Simon Property (SPG) 10-K 27 Feb 14 2013 FY Annual report Financial data

Document_and_Entity_Informatio

Document and Entity Information (USD $)	12 Months Ended
In Millions, except Share data, unless otherwise specified	Dec. 31, 2013	Jun. 28, 2013	Jan. 31, 2014	Jan. 31, 2014
			Common stock	Class B common stock
Entity Registrant Name	'SIMON PROPERTY GROUP INC /DE/	'	'	'
Entity Central Index Key	'0001063761	'	'	'
Document Type	'10-K	'	'	'
Document Period End Date	31-Dec-13	'	'	'
Amendment Flag	'false	'	'	'
Current Fiscal Year End Date	'--12-31	'	'	'
Entity Well-known Seasoned Issuer	'Yes	'	'	'
Entity Voluntary Filers	'No	'	'	'
Entity Current Reporting Status	'Yes	'	'	'
Entity Filer Category	'Large Accelerated Filer	'	'	'
Entity Public Float	'	$48,635	'	'
Entity Common Stock, Shares Outstanding	'	'	314,251,245	8,000
Document Fiscal Year Focus	'2013	'	'	'
Document Fiscal Period Focus	'FY	'	'	'

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Dec. 31, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
ASSETS:	'	'
Investment properties at cost	$35,126,344	$34,252,521
Less - accumulated depreciation	10,067,743	9,068,388
Investment properties, net	25,058,601	25,184,133
Cash and cash equivalents	1,716,863	1,184,518
Tenant receivables and accrued revenue, net	581,482	521,301
Investment in unconsolidated entities, at equity	2,433,399	2,108,966
Investment in Klepierre, at equity	2,014,415	2,016,954
Deferred costs and other assets	1,519,814	1,570,734
Total assets	33,324,574	32,586,606
LIABILITIES:	'	'
Mortgages and unsecured indebtedness	23,588,531	23,113,007
Accounts payable, accrued expenses, intangibles, and deferred revenues	1,374,113	1,374,172
Cash distributions and losses in partnerships and joint ventures, at equity	1,091,591	724,744
Other liabilities	257,222	303,588
Total liabilities	26,311,457	25,515,511
Commitments and contingencies	'	'
Limited partners' preferred interest in the Operating Partnership and noncontrolling redeemable interests in properties	190,485	178,006
Capital stock (850,000,000 total shares authorized, $ 0.0001 par value, 238,000,000 shares of excess common stock, 100,000,000 authorized shares of preferred stock):	'	'
Series J 8 3/8% cumulative redeemable preferred stock, 1,000,000 shares authorized, 796,948 issued and outstanding with a liquidation value of $ 39,847	44,390	44,719
Capital in excess of par value	9,217,363	9,175,724
Accumulated deficit	-3,218,686	-3,083,190
Accumulated other comprehensive loss	-75,795	-90,900
Common stock held in treasury at cost, 3,650,680 and 3,762,595 shares, respectively	-117,897	-135,781
Total stockholders' equity	5,849,406	5,910,603
Noncontrolling interests	973,226	982,486
Total equity	6,822,632	6,893,089
Total liabilities and equity	33,324,574	32,586,606
Common stock	'	'
Capital stock (850,000,000 total shares authorized, $ 0.0001 par value, 238,000,000 shares of excess common stock, 100,000,000 authorized shares of preferred stock):	'	'
Common stock	31	31
Class B common stock	'	'
Capital stock (850,000,000 total shares authorized, $ 0.0001 par value, 238,000,000 shares of excess common stock, 100,000,000 authorized shares of preferred stock):	'	'
Common stock	'	'

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical) (USD $)	Dec. 31, 2013	Dec. 31, 2012
In Thousands, except Share data, unless otherwise specified
Capital stock, total shares authorized	850,000,000	850,000,000
Capital stock, par value (in dollars per share)	$0.00	$0.00
Capital stock, shares of excess common stock	238,000,000	238,000,000
Capital stock, authorized shares of preferred stock	100,000,000	100,000,000
Series J 8 3/8% cumulative redeemable preferred stock, shares authorized	1,000,000	1,000,000
Series J 8 3/8% cumulative redeemable preferred stock, shares issued	796,948	796,948
Series J 8 3/8% cumulative redeemable preferred stock, shares outstanding	796,948	796,948
Series J 8 3/8% cumulative redeemable preferred stock, liquidation value (in dollars)	$39,847	$39,847
Common stock held in treasury, shares	3,650,680	3,762,595
Common stock	'	'
Common stock, par value (in dollars per share)	$0.00	$0.00
Common stock, shares authorized	511,990,000	511,990,000
Common stock, shares issued	314,251,245	313,658,419
Common stock, shares outstanding	314,251,245	313,658,419
Class B common stock	'	'
Common stock, par value (in dollars per share)	$0.00	$0.00
Common stock, shares authorized	10,000	10,000
Common stock, shares issued	8,000	8,000
Common stock, shares outstanding	8,000	8,000

Consolidated_Statements_of_Ope

Consolidated Statements of Operations and Comprehensive Income (USD $)	12 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
REVENUE:	'	'	'
Minimum rent	$3,201,958	$3,015,866	$2,664,724
Overage rent	223,473	195,726	140,842
Tenant reimbursements	1,442,907	1,340,307	1,177,269
Management fees and other revenues	126,972	128,366	128,010
Other income	174,828	199,819	195,587
Total revenue	5,170,138	4,880,084	4,306,432
EXPENSES:	'	'	'
Property operating	475,133	469,755	436,571
Depreciation and amortization	1,290,528	1,257,569	1,065,946
Real estate taxes	444,899	419,267	369,755
Repairs and maintenance	120,803	116,168	113,496
Advertising and promotion	126,210	118,790	107,002
Provision for credit losses	7,737	12,809	6,505
Home and regional office costs	140,931	123,926	128,618
General and administrative	59,803	57,144	46,319
Marketable and non-marketable securities charges and realized gains, net	'	-6,426	'
Other	88,405	90,482	89,066
Total operating expenses	2,754,449	2,659,484	2,363,278
OPERATING INCOME	2,415,689	2,220,600	1,943,154
Interest expense	-1,137,139	-1,127,025	-983,526
Income and other taxes	-39,734	-15,880	-11,595
Income from unconsolidated entities	205,259	131,907	81,238
Gain upon acquisition of controlling interests, sale or disposal of assets and interests in unconsolidated entities, and impairment charge on investment in unconsolidated entities, net	107,515	510,030	216,629
CONSOLIDATED NET INCOME	1,551,590	1,719,632	1,245,900
Net income attributable to noncontrolling interests	231,949	285,136	221,101
Preferred dividends	3,337	3,337	3,337
NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS	1,316,304	1,431,159	1,021,462
BASIC EARNINGS PER COMMON SHARE:	'	'	'
Net income attributable to common stockholders (in dollars per share)	$4.24	$4.72	$3.48
DILUTED EARNINGS PER COMMON SHARE:	'	'	'
Net income attributable to common stockholders (in dollars per share)	$4.24	$4.72	$3.48
Consolidated Net Income	1,551,590	1,719,632	1,245,900
Unrealized gain (loss) on derivative hedge agreements	7,101	16,652	-91,933
Net loss reclassified from accumulated other comprehensive income into earnings	9,205	21,042	16,169
Currency translation adjustments	2,865	9,200	-8,462
Changes in available-for-sale securities and other	-1,479	-39,248	-37,431
Comprehensive income	1,569,282	1,727,278	1,124,243
Comprehensive income attributable to noncontrolling interests	234,536	289,419	200,236
Comprehensive income attributable to common stockholders	$1,334,746	$1,437,859	$924,007

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
CASH FLOWS FROM OPERATING ACTIVITIES:	'	'	'
Consolidated Net Income	$1,551,590	$1,719,632	$1,245,900
Adjustments to reconcile consolidated net income to net cash provided by operating activities -	'	'	'
Depreciation and amortization	1,332,950	1,301,304	1,112,438
Gain upon acquisition of controlling interests, sale or disposal of assets and interests in unconsolidated entities, and impairment charge on investment in unconsolidated entities, net	-107,515	-510,030	-216,629
Marketable and non-marketable securities charges and realized gains, net	'	-6,426	'
Straight-line rent	-48,264	-37,998	-30,308
Equity in income of unconsolidated entities	-205,259	-131,907	-81,238
Distributions of income from unconsolidated entities	179,054	151,398	112,977
Changes in assets and liabilities -	'	'	'
Tenant receivables and accrued revenue, net	-13,938	-4,815	-19,370
Deferred costs and other assets	-30,013	-133,765	-58,924
Accounts payable, accrued expenses, intangibles, deferred revenues and other liabilities	42,391	165,679	-58,959
Net cash provided by operating activities	2,700,996	2,513,072	2,005,887
CASH FLOWS FROM INVESTING ACTIVITIES:	'	'	'
Acquisitions	-866,541	-3,735,718	-1,259,623
Funding of loans to related parties	-99,079	-25,364	'
Repayments from loans to related parties	'	92,600	'
Capital expenditures, net	-841,209	-802,427	-445,495
Cash from acquisitions and cash impact from the consolidation and deconsolidation of properties	'	91,163	19,302
Net proceeds from sale of assets	274,058	383,804	136,013
Investments in unconsolidated entities	-143,149	-201,330	-20,807
Purchase of marketable and non-marketable securities	-44,117	-184,804	-42,015
Proceeds from sale of marketable and non-marketable securities	47,495	415,848	6,866
Repayments of loans held for investment	'	163,908	235,124
Distributions of capital from unconsolidated entities	724,454	221,649	376,593
Net cash used in investing activities	-948,088	-3,580,671	-994,042
CASH FLOWS FROM FINANCING ACTIVITIES:	'	'	'
Proceeds from sales of common stock and other, net of transaction costs	99	1,213,840	5,313
Redemption of limited partner units	'	-248,000	'
Purchase of noncontrolling interest in consolidated properties	'	-229,595	'
Distributions to noncontrolling interest holders in properties	-9,335	-13,623	-28,793
Contributions from noncontrolling interest holders in properties	6,053	4,204	1,217
Preferred distributions of the Operating Partnership	-1,915	-1,915	-1,915
Preferred dividends and distributions to stockholders	-1,446,042	-1,244,553	-1,030,744
Distributions to limited partners	-242,596	-238,772	-211,497
Proceeds from issuance of debt, net of transaction costs	2,919,364	6,772,443	1,655,203
Repayments of debt	-2,446,191	-4,560,562	-1,398,697
Net cash (used in) provided by financing activities	-1,220,563	1,453,467	-1,009,913
INCREASE IN CASH AND CASH EQUIVALENTS	532,345	385,868	1,932
CASH AND CASH EQUIVALENTS, beginning of period	1,184,518	798,650	796,718
CASH AND CASH EQUIVALENTS, end of period	$1,716,863	$1,184,518	$798,650

Consolidated_Statements_of_Equ

Consolidated Statements of Equity (USD $)	Total	Preferred Stock	Preferred Stock	Common Stock	Accumulated Other Comprehensive Income (Loss)	Capital in Excess of Par Value	Accumulated Deficit	Common Stock Held in Treasury	Noncontrolling Interests
In Thousands, unless otherwise specified			Series J Preferred stock
Balance at Dec. 31, 2010	$5,633,752	$45,375	'	$30	$6,530	$8,059,852	($3,114,571)	($166,436)	$802,972
Increase (Decrease) in Stockholders' Equity	'	'	'	'	'	'	'	'	'
Exchange of limited partner units (596,051 common shares in 2013, 7,447,921 units for 6,795,296 common shares in 2012 and 584,432 common shares in 2011, Note 10)	'	'	'	'	'	9,465	'	'	-9,465
Issuance of limited partner units	9,084	'	'	'	'	'	'	'	9,084
Stock options exercised (common shares: 1,567 in 2013, 712 in 2012 and 324,720 in 2011, respectively and net of 76,969 shares used to fund required withholding tax in 2011)	2,095	'	'	'	'	2,095	'	'	'
Common Stock Retired (61,584 common shares)	-6,385	'	'	'	'	-6,385	'	'	'
Series J preferred stock premium amortization	-328	'	-328	'	'	'	'	'	'
Stock incentive program (common shares, net: 107,123 in 2013, 114,066 in 2012 and 116,885 in 2011)	'	'	'	'	'	-13,000	'	13,000	'
Amortization of stock incentive	14,018	'	'	'	'	14,018	'	'	'
Issuance of unit equivalents and other	21,940	'	'	'	'	1,056	-131,224	895	151,213
Adjustment to limited partners' interest from change in ownership in the Operating Partnership	'	'	'	'	'	36,032	'	'	-36,032
Distributions to common stockholders and limited partners, excluding Operating Partnership preferred interests	-1,242,241	'	'	'	'	'	-1,030,744	'	-211,497
Distribution to other noncontrolling interest partners	-1,029	'	'	'	'	'	'	'	-1,029
Other comprehensive income	-121,657	'	'	'	-100,793	'	'	'	-20,864
Net income, excluding $1,915, $1,915 and $1,915 attributable to preferred interests in the Operating Partnership during 2013, 2012 and 2011, respectively and $8,858, $8,520 and $8,946 attributable to noncontrolling redeemable interests in properties in temporary equity during 2013, 2012 and 2011, respectively	1,235,039	'	'	'	'	'	1,024,799	'	210,240
Balance at Dec. 31, 2011	5,544,288	45,047	'	30	-94,263	8,103,133	-3,251,740	-152,541	894,622
Increase (Decrease) in Stockholders' Equity	'	'	'	'	'	'	'	'	'
Exchange of limited partner units (596,051 common shares in 2013, 7,447,921 units for 6,795,296 common shares in 2012 and 584,432 common shares in 2011, Note 10)	'	'	'	'	'	144,197	'	'	-144,197
Public offering of common stock (9,137,500 common shares)	1,213,741	'	'	1	'	1,213,740	'	'	'
Issuance of limited partner units	31,324	'	'	'	'	'	'	'	31,324
Stock options exercised (common shares: 1,567 in 2013, 712 in 2012 and 324,720 in 2011, respectively and net of 76,969 shares used to fund required withholding tax in 2011)	41	'	'	'	'	41	'	'	'
Redemption of limited partner units	-248,000	'	'	'	'	-209,096	'	'	-38,904
Series J preferred stock premium amortization	-328	'	-328	'	'	'	'	'	'
Stock incentive program (common shares, net: 107,123 in 2013, 114,066 in 2012 and 116,885 in 2011)	'	'	'	'	'	-16,760	'	16,760	'
Amortization of stock incentive	14,001	'	'	'	'	14,001	'	'	'
Purchase of noncontrolling interests	84,476	'	'	'	'	25,917	'	'	58,559
Other	20,463	'	'	'	'	385	-21,393	'	41,471
Adjustment to limited partners' interest from change in ownership in the Operating Partnership	'	'	'	'	'	-99,834	'	'	99,834
Distributions to common stockholders and limited partners, excluding Operating Partnership preferred interests	-1,483,325	'	'	'	'	'	-1,244,553	'	-238,772
Distribution to other noncontrolling interest partners	-435	'	'	'	'	'	'	'	-435
Other comprehensive income	7,646	'	'	'	3,363	'	'	'	4,283
Net income, excluding $1,915, $1,915 and $1,915 attributable to preferred interests in the Operating Partnership during 2013, 2012 and 2011, respectively and $8,858, $8,520 and $8,946 attributable to noncontrolling redeemable interests in properties in temporary equity during 2013, 2012 and 2011, respectively	1,709,197	'	'	'	'	'	1,434,496	'	274,701
Balance at Dec. 31, 2012	6,893,089	44,719	'	31	-90,900	9,175,724	-3,083,190	-135,781	982,486
Increase (Decrease) in Stockholders' Equity	'	'	'	'	'	'	'	'	'
Exchange of limited partner units (596,051 common shares in 2013, 7,447,921 units for 6,795,296 common shares in 2012 and 584,432 common shares in 2011, Note 10)	'	'	'	'	'	11,161	'	'	-11,161
Stock options exercised (common shares: 1,567 in 2013, 712 in 2012 and 324,720 in 2011, respectively and net of 76,969 shares used to fund required withholding tax in 2011)	90	'	'	'	'	90	'	'	'
Series J preferred stock premium amortization	-329	'	-329	'	'	'	'	'	'
Stock incentive program (common shares, net: 107,123 in 2013, 114,066 in 2012 and 116,885 in 2011)	'	'	'	'	'	-17,884	'	17,884	'
Amortization of stock incentive	18,311	'	'	'	'	18,311	'	'	'
Issuance of unit equivalents and other	41,885	'	'	'	'	346	-9,095	'	50,634
Adjustment to limited partners' interest from change in ownership in the Operating Partnership	'	'	'	'	'	29,615	'	'	-29,615
Distributions to common stockholders and limited partners, excluding Operating Partnership preferred interests	-1,688,638	'	'	'	'	'	-1,446,042	'	-242,596
Distribution to other noncontrolling interest partners	-285	'	'	'	'	'	'	'	-285
Other comprehensive income	17,692	'	'	'	15,105	'	'	'	2,587
Net income, excluding $1,915, $1,915 and $1,915 attributable to preferred interests in the Operating Partnership during 2013, 2012 and 2011, respectively and $8,858, $8,520 and $8,946 attributable to noncontrolling redeemable interests in properties in temporary equity during 2013, 2012 and 2011, respectively	1,540,817	'	'	'	'	'	1,319,641	'	221,176
Balance at Dec. 31, 2013	$6,822,632	$44,390	'	$31	($75,795)	$9,217,363	($3,218,686)	($117,897)	$973,226

Consolidated_Statements_of_Equ1

Consolidated Statements of Equity (Parenthetical) (USD $)	12 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Consolidated Statements of Equity	'	'	'
Exchange of limited partner units, units (in shares)	'	7,447,921	'
Exchange of limited partner units, common shares	596,051	6,795,296	584,432
Public offering of common stock, shares	'	9,137,500	'
Stock options exercised, common shares	1,567	712	324,720
Stock options exercised related to fund required withholding tax, shares	'	'	76,969
Common Stock Retired, shares	'	'	61,584
Stock incentive program, shares, net	107,123	114,066	116,885
Issuance of unit equivalents and other, treasury stock, shares	'	'	6,857
Net income attributable to preferred interests in the Operating Partnership (in dollars)	$1,915	$1,915	$1,915
Net income attributable to noncontrolling redeemable interests in properties in temporary equity (in dollars)	$8,858	$8,520	$8,946

Organization

Organization	12 Months Ended
	Dec. 31, 2013
Organization	'
Organization	'
	1. Organization
	Simon Property Group, Inc., or Simon Property, is a Delaware corporation that operates as a self-administered and self-managed real estate investment trust, or REIT, under the Internal Revenue Code of 1986, as amended. REITs will generally not be liable for federal corporate income taxes as long as they continue to distribute not less than 100% of their taxable income. Simon Property Group, L.P., or the Operating Partnership, is our majority-owned partnership subsidiary that owns all of our real estate properties and other assets. The terms "we", "us" and "our" refer to Simon Property, the Operating Partnership, and its subsidiaries.
	We own, develop and manage retail real estate properties, which consist primarily of malls, Premium Outlets®, The Mills®, and community/lifestyle centers. As of December 31, 2013, we owned or held an interest in 308 income-producing properties in the United States, which consisted of 156 malls, 66 Premium Outlets, 62 community/lifestyle centers, 13 Mills and 11 other shopping centers or outlet centers in 38 states and Puerto Rico. Internationally, as of December 31, 2013, we had ownership interests in nine Premium Outlets in Japan, three Premium Outlets in South Korea, one Premium Outlet in Canada, one Premium Outlet in Mexico, and one Premium Outlet in Malaysia. In 2013, as further discussed in Note 7, we acquired noncontrolling interests in five operating properties in Europe through our joint venture with McArthurGlen. Of the five properties, two are located in Italy and one each is located in Austria, the Netherlands, and the United Kingdom. Additionally, as of December 31, 2013, we owned a 28.9% equity stake in Klépierre SA, or Klépierre, a publicly traded, Paris-based real estate company, which owns, or has an interest in, shopping centers located in 13 countries in Europe.
	On December 13, 2013, we announced a plan to spin off our interests in 98 properties comprised of substantially all of our strip center business and our smaller enclosed malls into an independent, publicly traded REIT (SpinCo). The spin-off is expected to be effectuated through a pro rata special distribution of all of the outstanding common shares of SpinCo to holders of Simon Property common stock as of the distribution record date, and is intended to qualify as a tax-free distribution for U.S. federal income tax purposes. At the time of the separation and distribution, SpinCo will own a percentage of the outstanding units of partnership interest of SpinCo L.P. that is equal to the percentage of outstanding units of partnership interest of the Operating Partnership owned by Simon Property, with the remaining units of SpinCo L.P. owned by the limited partners of the Operating Partnership. We expect the transaction will become effective in the second quarter of 2014. The transaction is subject to certain conditions, including declaration by the U.S. Securities and Exchange Commission that SpinCo's registration statement on Form 10 is effective, filing and approval of SpinCo's listing application, customary third party consents, and formal approval and declaration of the distribution by our Board of Directors. We may, at any time and for any reason until the proposed transaction is complete, abandon the spin-off or modify or change its terms.
	We generate the majority of our revenues from leases with retail tenants including:
	•
	base minimum rents,
	•
	overage and percentage rents based on tenants' sales volume, and
	•
	recoverable expenditures such as property operating, real estate taxes, repair and maintenance, and advertising and promotional expenditures.
	Revenues of our management company, after intercompany eliminations, consist primarily of management fees that are typically based upon the revenues of the property being managed.
	We also grow by generating supplemental revenues from the following activities:
	•
	establishing our malls as leading market resource providers for retailers and other businesses and consumer-focused corporate alliances, including payment systems (such as handling fees relating to the sales of bank-issued prepaid cards), national marketing alliances, static and digital media initiatives, business development, sponsorship, and events,
	•
	offering property operating services to our tenants and others, including waste handling and facility services, and the provision of energy services,
	•
	selling or leasing land adjacent to our properties, commonly referred to as "outlots" or "outparcels," and
	•
	generating interest income on cash deposits and investments in loans, including those made to related entities.

Basis_of_Presentation_and_Cons

Basis of Presentation and Consolidation	12 Months Ended
	Dec. 31, 2013
Basis of Presentation and Consolidation	'
Basis of Presentation and Consolidation	'
	2. Basis of Presentation and Consolidation
	The accompanying consolidated financial statements include the accounts of all controlled subsidiaries, and all significant intercompany amounts have been eliminated.
	We consolidate properties that are wholly owned or properties where we own less than 100% but we control. Control of a property is demonstrated by, among other factors, our ability to refinance debt and sell the property without the consent of any other partner or owner and the inability of any other partner or owner to replace us.
	We also consolidate a variable interest entity, or VIE, when we are determined to be the primary beneficiary. Determination of the primary beneficiary of a VIE is based on whether an entity has (1) the power to direct activities that most significantly impact the economic performance of the VIE and (2) the obligation to absorb losses or the right to receive benefits of the VIE that could potentially be significant to the VIE. Our determination of the primary beneficiary of a VIE considers all relationships between us and the VIE, including management agreements and other contractual arrangements. As described in Note 4, on December 4, 2012, we acquired the remaining 50% noncontrolling interest in two previously consolidated outlet properties. Prior to the acquisition, we had determined these properties were VIEs and we were the primary beneficiary. There have been no other changes during 2013 or 2012 in previous conclusions about whether an entity qualifies as a VIE or whether we are the primary beneficiary of any previously identified VIE. During 2013 and 2012, we did not provide financial or other support to a previously identified VIE that we were not previously contractually obligated to provide.
	Investments in partnerships and joint ventures represent our noncontrolling ownership interests in properties. We account for these investments using the equity method of accounting. We initially record these investments at cost and we subsequently adjust for net equity in income or loss, which we allocate in accordance with the provisions of the applicable partnership or joint venture agreement, cash contributions and distributions, and foreign currency fluctuations, if applicable. The allocation provisions in the partnership or joint venture agreements are not always consistent with the legal ownership interests held by each general or limited partner or joint venture investee primarily due to partner preferences. We separately report investments in joint ventures for which accumulated distributions have exceeded investments in and our share of net income of the joint ventures within cash distributions and losses in partnerships and joint ventures, at equity in the consolidated balance sheets. The net equity of certain joint ventures is less than zero because of financing or operating distributions that are usually greater than net income, as net income includes non-cash charges for depreciation and amortization.
	As of December 31, 2013, we consolidated 217 wholly-owned properties and 18 additional properties that are less than wholly-owned, but which we control or for which we are the primary beneficiary. We account for the remaining 93 properties, or the joint venture properties, as well as our investment in Klépierre, using the equity method of accounting, as we have determined we have significant influence over their operations. We manage the day-to-day operations of 70 of the 93 joint venture properties, but have determined that our partner or partners have substantive participating rights with respect to the assets and operations of these joint venture properties. Our investments in joint ventures in Japan, South Korea, Canada, Mexico, Malaysia, and the five properties through our joint venture with McArthurGlen comprise 20 of the remaining 23 properties. The international properties are managed locally by joint ventures in which we share control of the properties.
	Preferred distributions of the Operating Partnership are accrued at declaration and represent distributions on outstanding preferred units of partnership interests held by limited partners, or preferred units, and are included in net income attributable to noncontrolling interests. We allocate net operating results of the Operating Partnership after preferred distributions to third parties and to us based on the partners' respective weighted average ownership interests in the Operating Partnership. Net operating results of the Operating Partnership attributable to third parties are reflected in net income attributable to noncontrolling interests.
	Our weighted average ownership interest in the Operating Partnership was as follows:
		For the Year Ended
		December 31,
		2013			2012			2011
	Weighted average ownership interest		85.6	%		83.9	%		82.9	%
	As of December 31, 2013 and 2012, our ownership interest in the Operating Partnership was 85.7% and 85.6%, respectively. We adjust the noncontrolling limited partners' interest at the end of each period to reflect their interest in the Operating Partnership.
	Reclassifications
	We made certain reclassifications of prior period amounts in the consolidated financial statements to conform to the 2013 presentation. These reclassifications had no impact on previously reported net income attributable to common stockholders or earnings per share.

Summary_of_Significant_Account

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2013
Summary of Significant Accounting Policies	'
Summary of Significant Accounting Policies	'
	3. Summary of Significant Accounting Policies
	Investment Properties
	We record investment properties at cost. Investment properties include costs of acquisitions; development, predevelopment, and construction (including allocable salaries and related benefits); tenant allowances and improvements; and interest and real estate taxes incurred during construction. We capitalize improvements and replacements from repair and maintenance when the repair and maintenance extends the useful life, increases capacity, or improves the efficiency of the asset. All other repair and maintenance items are expensed as incurred. We capitalize interest on projects during periods of construction until the projects are ready for their intended purpose based on interest rates in place during the construction period. The amount of interest capitalized during each year is as follows:
		For the Year Ended
		December 31,
		2013			2012			2011
	Capitalized interest	$	16,604		$	21,145		$	5,815
	We record depreciation on buildings and improvements utilizing the straight-line method over an estimated original useful life, which is generally 10 to 35 years. We review depreciable lives of investment properties periodically and we make adjustments when necessary to reflect a shorter economic life. We amortize tenant allowances and tenant improvements utilizing the straight-line method over the term of the related lease or occupancy term of the tenant, if shorter. We record depreciation on equipment and fixtures utilizing the straight-line method over seven to ten years.
	We review investment properties for impairment on a property-by-property basis whenever events or changes in circumstances indicate that the carrying value of investment properties may not be recoverable. These circumstances include, but are not limited to, declines in a property's cash flows, ending occupancy or total sales per square foot. We measure any impairment of investment property when the estimated undiscounted operating income before depreciation and amortization plus its residual value is less than the carrying value of the property. To the extent impairment has occurred, we charge to income the excess of carrying value of the property over its estimated fair value. We estimate fair value using unobservable data such as operating income, estimated capitalization rates, or multiples, leasing prospects and local market information. We may decide to sell properties that are held for use and the sale prices of these properties may differ from their carrying values. We also review our investments, including investments in unconsolidated entities, if events or circumstances change indicating that the carrying amount of our investments may not be recoverable. We will record an impairment charge if we determine that a decline in the fair value of the investments is other-than-temporary. Changes in economic and operating conditions that occur subsequent to our review of recoverability of investment property and other investments could impact the assumptions used in that assessment and could result in future charges to earnings if assumptions regarding those investments differ from actual results.
	Purchase Accounting Allocation
	We allocate the purchase price of acquisitions and any excess investment in unconsolidated entities to the various components of the acquisition based upon the fair value of each component which may be derived from various observable or unobservable inputs and assumptions. Also, we may utilize third party valuation specialists. These components typically include buildings, land and intangibles related to in-place leases and we estimate:
	•
	the fair value of land and related improvements and buildings on an as-if-vacant basis,
	•
	the market value of in-place leases based upon our best estimate of current market rents and amortize the resulting market rent adjustment into revenues,
	•
	the value of costs to obtain tenants, including tenant allowances and improvements and leasing commissions, and
	•
	the value of revenue and recovery of costs foregone during a reasonable lease-up period, as if the space was vacant.
	Amounts allocated to building are depreciated over the estimated remaining life of the acquired building or related improvements. We amortize amounts allocated to tenant improvements, in-place lease assets and other lease-related intangibles over the remaining life of the underlying leases. We also estimate the value of other acquired intangible assets, if any, which are amortized over the remaining life of the underlying related intangibles.
	Discontinued Operations
	We reclassify any material operations and gains or losses on disposal related to consolidated properties disposed of during the period to discontinued operations. During 2013, we reported a net gain of approximately $64.8 million, or $0.18 per diluted share, on our consolidated property disposition activity. During 2012, we reported a net gain of approximately $21.1 million, or $.06 per diluted share, on our consolidated property disposition activity. During 2011, we reported a net loss of approximately $42.4 million, or $0.12 per diluted share, on our consolidated property disposition activity. These gains and losses are reported in gain upon acquisition of controlling interests, sale or disposal of assets and interests in unconsolidated entities, and impairment charge on investment in unconsolidated entities, net in the consolidated statements of operations and comprehensive income. The aggregate of the gains and losses on the disposition of these assets and the operating results were not significant to our consolidated results of operations during each of the three years ended December 31, 2013.
	Cash and Cash Equivalents
	We consider all highly liquid investments purchased with an original maturity of 90 days or less to be cash and cash equivalents. Cash equivalents are carried at cost, which approximates fair value. Cash equivalents generally consist of commercial paper, bankers acceptances, Eurodollars, repurchase agreements, and money market deposits or securities. Financial instruments that potentially subject us to concentrations of credit risk include our cash and cash equivalents and our trade accounts receivable. We place our cash and cash equivalents with institutions with high credit quality. However, at certain times, such cash and cash equivalents may be in excess of FDIC and SIPC insurance limits. See Notes 4 and 10 for disclosures about non-cash investing and financing transactions.
	Marketable and Non-Marketable Securities
	Marketable securities consist primarily of the investments of our captive insurance subsidiaries, available-for-sale securities, our deferred compensation plan investments, and certain investments held to fund the debt service requirements of debt previously secured by investment properties.
	The types of securities included in the investment portfolio of our captive insurance subsidiaries typically include U.S. Treasury or other U.S. government securities as well as corporate debt securities with maturities ranging from less than 1 to 10 years. These securities are classified as available-for-sale and are valued based upon quoted market prices or other observable inputs when quoted market prices are not available. The amortized cost of debt securities, which approximates fair value, held by our captive insurance subsidiaries is adjusted for amortization of premiums and accretion of discounts to maturity. Changes in the values of these securities are recognized in accumulated other comprehensive income (loss) until the gain or loss is realized or until any unrealized loss is deemed to be other-than-temporary. We review any declines in value of these securities for other-than-temporary impairment and consider the severity and duration of any decline in value. To the extent an other-than-temporary impairment is deemed to have occurred, an impairment charge is recorded and a new cost basis is established. Subsequent changes are then recognized through other comprehensive income (loss) unless another other-than-temporary impairment is deemed to have occurred. Net unrealized gains recorded in other comprehensive income (loss) as of December 31, 2013 and 2012 were approximately $1.1 million and $2.6 million, respectively, and represent the valuation and related currency adjustments for our marketable securities.
	On October 23, 2012 we completed the sale of all of our investments in Capital Shopping Centres Group PLC, or CSCG, and Capital & Counties Properties PLC, or CAPC. These investments were accounted for as available-for-sale securities and their value was adjusted to their quoted market price, including a related foreign exchange component, through other comprehensive income (loss). At the date of sale, we owned 35.4 million shares of CSCG and 38.9 million shares of CAPC. The aggregate proceeds received from the sale were $327.1 million, and we recognized a gain on the sale of $82.7 million, which is included in marketable and non-marketable securities charges and realized gains, net in the accompanying consolidated statements of operations and comprehensive income. The gain includes $79.4 million that was reclassified from accumulated other comprehensive income (loss).
	Our insurance subsidiaries are required to maintain statutory minimum capital and surplus as well as maintain a minimum liquidity ratio. Therefore, our access to these securities may be limited. Our deferred compensation plan investments are classified as trading securities and are valued based upon quoted market prices. The investments have a matching liability as the amounts are fully payable to the employees that earned the compensation. Changes in value of these securities and changes to the matching liability to employees are both recognized in earnings and, as a result, there is no impact to consolidated net income.
	At December 31, 2012, we also had investments of $24.9 million which were used to fund the debt service requirements of mortgage debt previously secured by investment property. These investments were classified as held-to-maturity and were recorded at amortized cost. We had no such investments at December 31, 2013 because the debt matured during 2013 and the investments funded the payoff.
	At December 31, 2013 and 2012, we had investments of $118.8 million and $98.9 million, respectively, in non-marketable securities that we account for under the cost method. We regularly evaluate these investments for any other-than-temporary impairment in their estimated fair value to determine whether an adjustment to the carrying value is required. During the fourth quarter of 2012, as a result of the significance and duration of the impairment, represented by the excess of the carrying value over the estimated fair value of certain cost method investments, we recognized other-than-temporary non-cash charges of $71.0 million, which is included in marketable and non-marketable securities charges and realized gains, net in the accompanying consolidated statements of operations and comprehensive income. The fair value of the remaining investment for the securities that were impaired is not material and was based on Level 2 fair value inputs.
	Fair Value Measurements
	Level 1 fair value inputs are quoted prices for identical items in active, liquid and visible markets such as stock exchanges. Level 2 fair value inputs are observable information for similar items in active or inactive markets, and appropriately consider counterparty creditworthiness in the valuations. Level 3 fair value inputs reflect our best estimate of inputs and assumptions market participants would use in pricing an asset or liability at the measurement date. The inputs are unobservable in the market and significant to the valuation estimate. We have no investments for which fair value is measured on a recurring basis using Level 3 inputs.
	We hold marketable securities that totaled $148.3 million and $170.2 million at December 31, 2013 and 2012, respectively, that were primarily classified as having Level 1 fair value inputs. In addition, we have derivative instruments which are classified as having Level 2 inputs which consist primarily of interest rate swap agreements and foreign currency forward contracts with a gross liability balance of $1.2 million and $1.5 million at December 31, 2013 and 2012, respectively, and a gross asset value of $8.4 million and $3.0 million at December 31, 2013 and 2012, respectively. We also have interest rate cap agreements with nominal values.
	Note 8 includes a discussion of the fair value of debt measured using Level 2 inputs. Notes 3 and 4 include a discussion of the fair values recorded in purchase accounting and impairment, using Level 2 and Level 3 inputs. Level 3 inputs to our purchase accounting and impairment include our estimations of net operating results of the property, capitalization rates and discount rates.
	Use of Estimates
	We prepared the accompanying consolidated financial statements in accordance with accounting principles generally accepted in the United States, or GAAP. GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and revenues and expenses during the reported period. Our actual results could differ from these estimates.
	Segment Disclosure
	Our primary business is the ownership, development, and management of retail real estate. We have aggregated our retail operations, including malls, Premium Outlets, The Mills, community/lifestyle centers, and our international investments into one reportable segment because they have similar economic characteristics and we provide similar products and services to similar types of, and in many cases, the same tenants.
	Deferred Costs and Other Assets
	Deferred costs and other assets include the following as of December 31:
		2013			2012
	Deferred financing and lease costs, net	$	344,970		$	334,337
	In-place lease intangibles, net		290,564			358,141
	Acquired above market lease intangibles, net		98,723			128,893
	Marketable securities of our captive insurance companies		94,720			119,424
	Goodwill		20,098			20,098
	Other marketable and non-marketable securities		173,887			150,264
	Prepaids, notes receivable and other assets, net		496,852			459,577
		$	1,519,814		$	1,570,734
	Deferred Financing and Lease Costs
	Our deferred costs consist primarily of financing fees we incurred in order to obtain long-term financing and internal and external leasing commissions and related costs. We record amortization of deferred financing costs on a straight-line basis over the terms of the respective loans or agreements. Our deferred leasing costs consist primarily of capitalized salaries and related benefits in connection with lease originations. We record amortization of deferred leasing costs on a straight-line basis over the terms of the related leases. Details of these deferred costs as of December 31 are as follows:
		2013			2012
	Deferred financing and lease costs	$	619,366		$	576,821
	Accumulated amortization		(274,396	)		(242,484	)
	Deferred financing and lease costs, net	$	344,970		$	334,337
	We report amortization of deferred financing costs, amortization of premiums, and accretion of discounts as part of interest expense. Amortization of deferred leasing costs is a component of depreciation and amortization expense. We amortize debt premiums and discounts, which are included in mortgages and unsecured indebtedness, over the remaining terms of the related debt instruments. These debt premiums or discounts arise either at the debt issuance or as part of the purchase price allocation of the fair value of debt assumed in acquisitions. The accompanying consolidated statements of operations and comprehensive income include amortization as follows:
		For the Year Ended December 31,
		2013			2012			2011
	Amortization of deferred financing costs	$	25,982		$	27,163		$	28,697
	Amortization of debt premiums, net of discounts		(33,535	)		(33,504	)		(8,439	)
	Amortization of deferred leasing costs		45,760			43,176			43,110
	Loans Held for Investment
From time to time, we may make investments in mortgage loans or mezzanine loans of third parties that own and operate commercial real estate assets located in the United States. Mortgage loans are secured, in part, by mortgages recorded against the underlying properties which are not owned by us. Mezzanine loans are secured, in part, by pledges of ownership interests of the entities that own the underlying real estate. Loans held for investment are carried at cost, net of any premiums or discounts which are accreted or amortized over the life of the related loan receivable utilizing the effective interest method. We evaluate the collectability of both interest and principal of each of these loans quarterly to determine whether the value has been impaired. A loan is deemed to be impaired when, based on current information and events, it is probable that we will be unable to collect all amounts due according to the existing contractual terms. When a loan is impaired, the amount of the loss accrual is calculated by comparing the carrying amount of the loan held for investment to its estimated realizable value.
We had investments in mortgage and mezzanine loans which were repaid during 2011 and 2012. We recorded $6.8 million and $24.3 million during 2012 and 2011, respectively, in interest income earned from these loans.
Intangibles
The average life of in-place lease intangibles is approximately 3.8 years, is amortized over the remaining life of the leases of the related property on the straight-line basis and is included with depreciation and amortization in the consolidated statements of operations and comprehensive income. The fair market value of above and below market leases is amortized into revenue over the remaining lease life as a component of reported minimum rents. The weighted average remaining life of these intangibles is approximately 5.0 years. The unamortized amount of below market leases is included in accounts payable, accrued expenses, intangibles and deferred revenues in the consolidated balance sheets and was $145.5 million and $199.2 million as of December 31, 2013 and 2012, respectively. The amount of amortization of above and below market leases, net for the years ended December 31, 2013, 2012, and 2011 was $24.1 million, $16.5 million, and $17.6 million, respectively. If a lease is terminated prior to the original lease termination, any remaining unamortized intangible is written off to earnings.
Details of intangible assets as of December 31 are as follows:
	2013			2012
In-place lease intangibles	$	481,661		$	480,517
Accumulated depreciation		(191,097	)		(122,376	)
In-place lease intangibles, net	$	290,564		$	358,141
Acquired above market lease intangibles	$	249,115		$	248,357
Accumulated amortization		(150,392	)		(119,464	)
Acquired above market lease intangibles, net	$	98,723		$	128,893
Estimated future amortization and the increasing (decreasing) effect on minimum rents for our above and below market leases as of December 31, 2013 are as follows:
	Below			Above			Impact
	Market			Market			to
	Leases			Leases			Minimum
							Rent,
							Net
2014	$	35,128		$	(22,020	)	$	13,108
2015		30,552			(19,441	)		11,111
2016		25,499			(17,468	)		8,031
2017		17,995			(13,889	)		4,106
2018		13,931			(11,062	)		2,869
Thereafter		22,413			(14,843	)		7,570
	$	145,518		$	(98,723	)	$	46,795
Derivative Financial Instruments
We record all derivatives on the balance sheet at fair value. The accounting for changes in the fair value of derivatives depends on the intended use of the derivative, whether we have designated a derivative as a hedge and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting. We use a variety of derivative financial instruments in the normal course of business to selectively manage or hedge a portion of the risks associated with our indebtedness and interest payments. Our objectives in using interest rate derivatives are to add stability to interest expense and to manage our exposure to interest rate movements. To accomplish this objective, we primarily use interest rate swaps and caps. We require that hedging derivative instruments be highly effective in reducing the risk exposure that they are designated to hedge. As a result, there is no significant ineffectiveness from any of our derivative activities. We formally designate any instrument that meets these hedging criteria as a hedge at the inception of the derivative contract. We have no credit-risk-related hedging or derivative activities.
As of December 31, 2013, we had the following outstanding interest rate derivatives related to managing our interest rate risk:
Interest Rate Derivative	Number of		Notional Amount
	Instruments
Interest Rate Swaps	2		$491.6 million
Interest Rate Caps	5		$248.3 million
The carrying value of our interest rate swap agreements, at fair value, as of December 31, 2013, is a net asset balance of $3.0 million, of which $0.4 million is included in other liabilities and $3.4 million is included in deferred costs and other assets. The December 31, 2012 carrying value was a liability balance of $1.5 million and is included in other liabilities. The interest rate cap agreements were of nominal value at December 31, 2013 and 2012 and we generally do not apply hedge accounting to these arrangements.
We are also exposed to fluctuations in foreign exchange rates on financial instruments which are denominated in foreign currencies, primarily in Japan and Europe. We use currency forward contracts and foreign currency denominated debt to manage our exposure to changes in foreign exchange rates on certain Yen and Euro-denominated receivables and net investments. Currency forward contracts involve fixing the Yen:USD or Euro:USD exchange rate for delivery of a specified amount of foreign currency on a specified date. The currency forward contracts are typically cash settled in US dollars for their fair value at or close to their settlement date. Approximately ¥1.6 billion remains as of December 31, 2013 for all forward contracts that we expect to settle through January 5, 2015. The December 31, 2013 asset balance related to these forward contracts was $5.0 million and is included in deferred costs and other assets. We have reported the changes in fair value for these forward contracts in earnings. The underlying currency adjustments on the foreign currency denominated receivables are also reported in income and generally offset the amounts in earnings for these forward contracts.
In the fourth quarter of 2013, we entered into a Euro:USD forward contract with a €74.0 million notional value maturing on May 30, 2014 which we designated as a net investment hedge. The December 31, 2013 liability balance related to this forward contract was $0.8 million and is included in other liabilities. We apply hedge accounting and the change in fair value for this forward contract is reported in other comprehensive income. Changes in the value of this forward contract are offset by changes in the underlying hedged Euro-denominated joint venture investment.
The total gross accumulated other comprehensive loss related to our derivative activities, including our share of the other comprehensive loss from joint venture properties, approximated $61.8 million and $78.1 million as of December 31, 2013 and 2012, respectively.
Noncontrolling Interests and Temporary Equity
Details of the carrying amount of our noncontrolling interests are as follows as of December 31:
	2013			2012
Limited partners' interests in the Operating Partnership	$	968,962		$	983,363
Nonredeemable noncontrolling interests in properties, net		4,264			(877	)
Total noncontrolling interests reflected in equity	$	973,226		$	982,486
Net income attributable to noncontrolling interests (which includes nonredeemable noncontrolling interests in consolidated properties, limited partners' interests in the Operating Partnership, redeemable noncontrolling interests in consolidated properties, and preferred distributions payable by the Operating Partnership on its outstanding preferred units) is a component of consolidated net income. In addition, the individual components of other comprehensive income (loss) are presented in the aggregate for both controlling and noncontrolling interests, with the portion attributable to noncontrolling interests deducted from comprehensive income attributable to common stockholders.
A rollforward of noncontrolling interests for the years ending December 31 is as follows:
	2013			2012			2011
Noncontrolling interests, beginning of period	$	982,486		$	894,622		$	802,972
Net income attributable to noncontrolling interests after preferred distributions and income attributable to redeemable noncontrolling interests in consolidated properties		221,176			274,701			210,240
Distributions to noncontrolling interest holders		(242,881	)		(239,207	)		(212,526	)
Other comprehensive income (loss) allocable to noncontrolling interests:
Unrealized gain (loss) on derivative hedge agreements		1,057			5,634			(15,814	)
Net loss reclassified from accumulated other comprehensive loss into earnings		1,317			3,021			2,774
Currency translation adjustments		426			2,435			(1,484	)
Changes in available-for-sale securities and other		(213	)		(6,807	)		(6,340	)
		2,587			4,283			(20,864	)
Adjustment to limited partners' interest from change in ownership in the Operating Partnership		(29,615	)		99,834			(36,032	)
Units issued to limited partners		—			31,324			9,084
Units exchanged for common shares		(11,161	)		(144,197	)		(9,465	)
Units redeemed		—			(38,904	)		—
Long-term incentive performance units		45,341			41,470			27,881
Purchase of noncontrolling interests, noncontrolling interests in newly consolidated properties and other		5,293			58,560			123,332
Noncontrolling interests, end of period	$	973,226		$	982,486		$	894,622
Accumulated Other Comprehensive Income (Loss)
The changes in components of our accumulated other comprehensive income (loss) consisted of the following net of noncontrolling interest as of December 31, 2013:
	Currency			Accumulated			Net unrealized			Total
	translation			derivative			gains on
	adjustments			losses, net			marketable
							securities
Beginning balance	$	(26,220	)	$	(66,917	)	$	2,237		$	(90,900	)
Other comprehensive income (loss) before reclassifications		2,439			6,044			(1,266	)		7,217
Amounts reclassified from accumulated other comprehensive income (loss)		—			7,888			—			7,888
Net current-period other comprehensive income (loss)		2,439			13,932			(1,266	)		15,105
Ending balance	$	(23,781	)	$	(52,985	)	$	971		$	(75,795	)
The reclassifications out of accumulated other comprehensive income (loss) consisted of the following as of December 31, 2013:
Details about accumulated other comprehensive	Amount reclassified			Affected line item in the
income (loss) components:	from accumulated			statement where
	other comprehensive			net income is presented
	income (loss)
Accumulated derivative losses, net
	$	(9,205	)	Interest expense
		1,317		Net income attributable to noncontrolling interests
	$	(7,888	)
Revenue Recognition
We, as a lessor, retain substantially all of the risks and benefits of ownership of the investment properties and account for our leases as operating leases. We accrue minimum rents on a straight-line basis over the terms of their respective leases. Substantially all of our retail tenants are also required to pay overage rents based on sales over a stated base amount during the lease year. We recognize overage rents only when each tenant's sales exceed the applicable sales threshold. We amortize any tenant inducements as a reduction of revenue utilizing the straight-line method over the term of the related lease or occupancy term of the tenant, if shorter.
We structure our leases to allow us to recover a significant portion of our property operating, real estate taxes, repairs and maintenance, and advertising and promotion expenses from our tenants. A substantial portion of our leases, other than those for anchor stores, require the tenant to reimburse us for a substantial portion of our operating expenses, including common area maintenance, or CAM, real estate taxes and insurance. This significantly reduces our exposure to increases in costs and operating expenses resulting from inflation. Such property operating expenses typically include utility, insurance, security, janitorial, landscaping, food court and other administrative expenses. As of December 31, 2013 for substantially all of our leases in the U.S. mall portfolio, we receive a fixed payment from the tenant for the CAM component which is recognized as revenue when earned. When not reimbursed by the fixed-CAM component, CAM expense reimbursements are based on the tenant's proportionate share of the allocable operating expenses and CAM capital expenditures for the property. We also receive escrow payments for these reimbursements from substantially all our non-fixed CAM tenants and monthly fixed CAM payments throughout the year. We accrue reimbursements from tenants for recoverable portions of all these expenses as revenue in the period the applicable expenditures are incurred. We recognize differences between estimated recoveries and the final billed amounts in the subsequent year. These differences were not material in any period presented. Our advertising and promotional costs are expensed as incurred.
Management Fees and Other Revenues
Management fees and other revenues are generally received from our unconsolidated joint venture properties as well as third parties. Management fee revenue is earned based on a contractual percentage of joint venture property revenue. Development fee revenue is earned on a contractual percentage of hard costs to develop a property. Leasing fee revenue is earned on a contractual per square foot charge based on the square footage of current year leasing activity. We recognize revenue for these services provided when earned based on the underlying activity.
Revenues from insurance premiums charged to unconsolidated properties are recognized on a pro-rata basis over the terms of the policies. Insurance losses on these policies and our self-insurance for our consolidated properties are reflected in property operating expenses in the accompanying consolidated statements of operations and comprehensive income and include estimates for losses incurred but not reported as well as losses pending settlement. Estimates for losses are based on evaluations by third-party actuaries and management's estimates. Total insurance reserves for our insurance subsidiaries and other self-insurance programs as of December 31, 2013 and 2012 approximated $103.4 million and $112.8 million, respectively, and are included in other liabilities in the consolidated balance sheets. Information related to the securities included in the investment portfolio of our captive insurance subsidiaries is included within the "Marketable and Non-Marketable Securities" section above.
Allowance for Credit Losses
We record a provision for credit losses based on our judgment of a tenant's creditworthiness, ability to pay and probability of collection. In addition, we also consider the retail sector in which the tenant operates and our historical collection experience in cases of bankruptcy, if applicable. Accounts are written off when they are deemed to be no longer collectible. Presented below is the activity in the allowance for credit losses during the following years:
	For the Year Ended
	December 31,
	2013			2012			2011
Balance, beginning of period	$	33,130		$	27,500		$	31,650
Consolidation of previously unconsolidated properties		—			2,075			860
Provision for credit losses		7,737			12,809			6,505
Accounts written off, net of recoveries		(4,955	)		(9,254	)		(11,515	)
Balance, end of period	$	35,912		$	33,130		$	27,500
Income Taxes
We and certain subsidiaries of the Operating Partnership have elected to be taxed as REITs under Sections 856 through 860 of the Internal Revenue Code and applicable Treasury regulations relating to REIT qualification. In order to maintain this REIT status, the regulations require the entity to distribute at least 90% of taxable income to its owners and meet certain other asset and income tests as well as other requirements. We intend to continue to adhere to these requirements and maintain our REIT status and that of the REIT subsidiaries. As REITs, these entities will generally not be liable for federal corporate income taxes as long as they continue to distribute in excess of 100% of their taxable income. Thus, we made no provision for federal income taxes for these entities in the accompanying consolidated financial statements. If we or any of the REIT subsidiaries fail to qualify as a REIT, we or that entity will be subject to tax at regular corporate rates for the years in which it failed to qualify. If we lose our REIT status we could not elect to be taxed as a REIT for four years unless our failure to qualify was due to reasonable cause and certain other conditions were satisfied.
We have also elected taxable REIT subsidiary, or TRS, status for some of our subsidiaries. This enables us to provide services that would otherwise be considered impermissible for REITs and participate in activities that do not qualify as "rents from real property". For these entities, deferred tax assets and liabilities are established for temporary differences between the financial reporting basis and the tax basis of assets and liabilities at the enacted tax rates expected to be in effect when the temporary differences reverse. A valuation allowance for deferred tax assets is provided if we believe all or some portion of the deferred tax asset may not be realized. An increase or decrease in the valuation allowance that results from the change in circumstances that causes a change in our judgment about the realizability of the related deferred tax asset is included in income.
As of December 31, 2013 and 2012, we had a net deferred tax asset of $1.1 million and $4.1 million, respectively, related to our TRS subsidiaries. The net deferred tax asset is included in deferred costs and other assets in the accompanying consolidated balance sheets and consists primarily of operating losses and other carryforwards for federal income tax purposes as well as the timing of the deductibility of losses or reserves from insurance subsidiaries. No valuation allowance has been recorded as we believe these amounts will be realized.
We are also subject to certain other taxes, including state and local taxes, franchise taxes, as well as income-based and withholding taxes on dividends from certain of our international investments, which are included in income and other taxes in the consolidated statements of operations and comprehensive income.
Corporate Expenses
Home and regional office costs primarily include compensation and personnel related costs, travel, building and office costs, and other expenses for our corporate home office and regional offices. General and administrative expense primarily includes executive compensation, benefits and travel expenses as well as costs of being a public company including certain legal costs, audit fees, regulatory fees, and certain other professional fees.

Real_Estate_Acquisitions_and_D

Real Estate Acquisitions and Dispositions	12 Months Ended
	Dec. 31, 2013
Real Estate Acquisitions and Dispositions	'
Real Estate Acquisitions and Dispositions	'
	4. Real Estate Acquisitions and Dispositions
	We acquire interests in properties to generate both current income and long-term appreciation in value. We acquire interests in individual properties or portfolios of retail real estate companies that meet our investment criteria and sell properties which no longer meet our strategic criteria. Unless otherwise noted below, gains and losses on these transactions are included in gain upon acquisition of controlling interests, sale or disposal of assets and interests in unconsolidated entities, and impairment charge on investment in unconsolidated entities, net in the accompanying consolidated statements of operations and comprehensive income. We expense acquisition and potential acquisition costs related to business combinations and disposition related costs as they are incurred. We incurred a minimal amount of transaction expenses during 2013, 2012, and 2011.
	Our consolidated and unconsolidated acquisition and disposition activity for the periods presented are highlighted as follows:
	2013 and 2014 Acquisitions
	On January 10, 2014, we acquired one of our partner's remaining redeemable interests in a portfolio of ten properties for approximately $113.3 million subject to a pre-existing contractual arrangement. The amount paid to acquire the interests in the seven properties which were previously consolidated is included in limited partners' preferred interest in the Operating Partnership and noncontrolling redeemable interest in properties in the accompanying December 31, 2013 consolidated balance sheet.
	During 2013, as further discussed in Note 7, we acquired noncontrolling interests in the property management and development companies of McArthurGlen as well as interests in five designer outlet properties.
	On May 30, 2013, we acquired a 100% interest in a 390,000 square foot outlet center located near Portland, Oregon for cash consideration of $146.7 million. The fair value of the acquisition was recorded primarily as investment property and lease related intangibles. As a result of the excess of fair value over amounts paid, we recognized a gain of approximately $27.3 million.
	2012 Acquisitions
	On December 31, 2012, as discussed in Note 7, we contributed a wholly-owned property to a newly formed joint venture in exchange for an interest in a property contributed to the same joint venture by our joint venture partner.
	On December 4, 2012, we acquired the remaining 50% noncontrolling equity interest in two previously consolidated outlet properties located in Grand Prairie, Texas, and Livermore, California, and, accordingly, we now own 100% of these properties. We paid consideration of $260.9 million for the additional interests in the properties, 90% of which was paid in cash and 10% of which was satisfied through the issuance of units of the Operating Partnership. In addition, the construction loans we had provided to the properties totaling $162.5 million were extinguished on a non-cash basis. The transaction was accounted for as an equity transaction, as the properties had been previously consolidated.
	On June 4, 2012, we acquired a 50% interest in a 465,000 square foot outlet center located in Destin, Florida for $70.5 million.
	On March 22, 2012, as discussed in Note 7, we acquired additional interests in 26 of our joint venture properties from SPG-FCM Ventures, LLC, or SPG-FCM, in a transaction valued at approximately $1.5 billion, or the Mills transaction.
	On March 14, 2012, as discussed in Note 7, we acquired a 28.7% equity stake in Klépierre for approximately $2.0 billion.
	On January 6, 2012, we paid $50.0 million to acquire an additional 25% interest in Del Amo Fashion Center, thereby increasing our interest to 50% .
	2011 Acquisitions
	On December 31, 2011, we and our joint venture partner dissolved a venture in which we had a 50% interest and distributed a portfolio of properties previously held within the venture to us and our joint venture partner. As a result, we have a 100% interest in and now consolidate the six properties we received in the distribution. The distribution resulted in a remeasurement of the distributed assets to estimated fair value and a corresponding non-cash gain of $168.3 million in the fourth quarter of 2011 representing the estimated fair value of the net assets received in excess of the carrying value of our interest in the joint venture portfolio. The asset and liability allocations were recorded based on preliminary portfolio fair value estimates at the date of distribution and were finalized during the third quarter of 2012 resulting in an allocation to investment property of $585.0 million, lease related intangibles of $59.1 million and mortgage debt of $468.8 million, including debt premiums. We amortize these amounts over the estimated life of the related depreciable components of investment property, typically no greater than 40 years, the terms of the applicable leases and the applicable debt maturity, respectively. The adjusted allocations did not have a material impact on the results of operations for the year ended, or on our financial position at December 31, 2012.
	On August 25, 2011, we acquired additional controlling interests of approximately 83.75% in The Plaza at King of Prussia and The Court at King of Prussia, or collectively, King of Prussia, thereby increasing our ownership interest to 96.1%. At the time of acquisition, the property was subject to a $160.1 million mortgage. The consolidation of this previously unconsolidated property resulted in a remeasurement of our previously held interest to fair value and a corresponding non-cash gain of $82.9 million in the third quarter of 2011. As a result of the 2014 acquisition of our partner's interest, we now own 100% of this property.
	On July 19, 2011, we acquired a 100% ownership interest in a lifestyle center located in Albuquerque, New Mexico. Also, during the second quarter of 2011, we purchased an additional noncontrolling interest in an unconsolidated mall.
	During the third quarter of 2011 we contributed a wholly-owned property to a joint venture which holds our interests in nine unconsolidated properties. The transaction effectively exchanged a portion of our interest in this previously wholly-owned property for increased ownership interests in the nine unconsolidated properties. This transaction had no material impact on the consolidated statements of operations and comprehensive income.
	2013 Dispositions
	During 2013, we increased our economic interest in three unconsolidated community centers and subsequently disposed of our interests in those properties. Additionally, we disposed of our interests in eight consolidated retail properties and three unconsolidated retail properties. The aggregate gain recognized on these transactions was approximately $80.2 million.
	On August 8, 2013, we disposed of our interest in an office property located in the Boston, Massachusetts area. The gain on the sale was $7.9 million and is included in other income in the accompanying consolidated statements of operations and comprehensive income.
	2012 Dispositions
	During 2012, we disposed of our interests in nine consolidated retail properties and four unconsolidated retail properties. The aggregate net gain on these disposals was $15.5 million.
	On May 3, 2012, we sold our interests in two residential apartment buildings located at The Domain in Austin, Texas. The gain from the sale was $12.4 million, which is included in other income in the accompanying consolidated statements of operations and comprehensive income.
	On January 9, 2012, as discussed in Note 7, we sold our entire ownership interest in GCI.
	2011 Dispositions
	During 2011, we agreed to dispose of consolidated properties that had an aggregate carrying value of $355.4 million and debt obligations of $177.0 million for aggregate sales proceeds of $136.0 million resulting in a net loss of $42.4 million.

Per_Share_Data

Per Share Data	12 Months Ended
	Dec. 31, 2013
Per Share Data	'
Per Share Data	'
	5. Per Share Data
	We determine basic earnings per share based on the weighted average number of shares of common stock outstanding during the period and we consider any participating securities for purposes of applying the two-class method. We determine diluted earnings per share based on the weighted average number of shares of common stock outstanding combined with the incremental weighted average shares that would have been outstanding assuming all dilutive potential securities were converted into common shares at the earliest date possible. The following table sets forth the computation of our basic and diluted earnings per share.
		For the Year Ended December 31,
		2013			2012		2011
	Net Income available to Common Stockholders — Basic	$	1,316,304		$	1,431,159	$	1,021,462
	Effect of dilutive securities:
	Impact to General Partner's interest in Operating Partnership from all dilutive securities and options		—			—		39
	Net Income available to Common Stockholders — Diluted	$	1,316,304		$	1,431,159	$	1,021,501
	Weighted Average Shares Outstanding — Basic		310,255,168			303,137,350		293,504,064
	Effect of stock options		50			1,072		69,408
	Weighted Average Shares Outstanding — Diluted		310,255,218			303,138,422		293,573,472
	For the year ended December 31, 2013, potentially dilutive securities include stock options, units that are exchangeable for common stock and long-term incentive performance, or LTIP, units granted under our long-term incentive performance programs that are convertible into units and exchangeable for common stock. The only securities that had a dilutive effect for the years ended December 31, 2013, 2012, and 2011 were stock options.
	We accrue dividends when they are declared. The taxable nature of the dividends declared for each of the years ended as indicated is summarized as follows:
		For the Year Ended
		December 31,
		2013		2012		2011
	Total dividends paid per common share	$4.65		$4.10		$3.50
	Percent taxable as ordinary income	97.50%		99.50%		98.30%
	Percent taxable as long-term capital gains	2.50%		0.50%		1.70%
		100.00%		100.00%		100.00%
	In January 2014, our Board of Directors declared a cash dividend of $1.25 per share of common stock payable on February 28, 2014 to stockholders of record on February 14, 2014.

Investment_Properties

Investment Properties	12 Months Ended
	Dec. 31, 2013
Investment Properties	'
Investment Properties	'
	6. Investment Properties
	Investment properties consist of the following as of December 31:
		2013		2012
	Land	$	3,747,079	$	3,736,882
	Buildings and improvements		31,026,081		30,187,495
	Total land, buildings and improvements		34,773,160		33,924,377
	Furniture, fixtures and equipment		353,184		328,144
	Investment properties at cost		35,126,344		34,252,521
	Less — accumulated depreciation		10,067,743		9,068,388
	Investment properties at cost, net	$	25,058,601	$	25,184,133
	Construction in progress included above	$	364,542	$	329,663

Investments_in_Unconsolidated_

Investments in Unconsolidated Entities	12 Months Ended
	Dec. 31, 2013
Investments in Unconsolidated Entities	'
Investments in Unconsolidated Entities	'
	7. Investments in Unconsolidated Entities
	Joint ventures are common in the real estate industry. We use joint ventures to finance properties, develop new properties, and diversify our risk in a particular property or portfolio of properties. We held joint venture ownership interests in 73 properties in the United States as of December 31, 2013 and 78 properties as of December 31, 2012. We held interests in nine joint venture properties in Japan as of December 31, 2013 and eight as of December 31, 2012. We held interests in three joint venture properties in South Korea as of December 31, 2013 and two as of December 31, 2012. At December 31, 2013 and 2012, we also held interests in one joint venture property in Mexico and one joint venture property in Malaysia. On August 1, 2013, our first joint venture property in Canada opened. Also in 2013, as discussed below, we acquired noncontrolling interests in five operating properties in Europe through our joint venture with McArthurGlen. We account for these joint venture properties using the equity method of accounting. As discussed below, on January 9, 2012, we sold our interest in GCI which at the time owned 45 properties in Italy. Additionally, on March 14, 2012, we purchased a 28.7% equity stake in Klépierre. On May 21, 2012, Klépierre paid a dividend, which we elected to receive in additional shares, resulting in an increase in our ownership to approximately 28.9%.
	Certain of our joint venture properties are subject to various rights of first refusal, buy-sell provisions, put and call rights, or other sale or marketing rights for partners which are customary in real estate joint venture agreements and the industry. We and our partners in these joint ventures may initiate these provisions (subject to any applicable lock up or similar restrictions), which may result in either the sale of our interest or the use of available cash or borrowings, or the use of limited partnership interests in the Operating Partnership, to acquire the joint venture interest from our partner.
	We may provide financing to joint ventures primarily in the form of interest bearing construction loans. As of December 31, 2013 and 2012, we had construction loans and other advances to related parties totaling $140.3 million and $25.4 million, respectively, which are included in deferred costs and other assets.
	On December 31, 2012, we formed a joint venture with Institutional Mall Investors, or IMI, to own and operate The Shops at Mission Viejo in the Los Angeles suburb of Mission Viejo, California, and Woodfield Mall in the Chicago suburb of Schaumburg, Illinois. We and IMI each own a noncontrolling 50% interest in Woodfield Mall and we own a noncontrolling 51% interest in The Shops at Mission Viejo and IMI owns the remaining 49%. Prior to the formation of the joint venture, we owned 100% of The Shops at Mission Viejo and IMI owned 100% of Woodfield Mall. No gain was recorded as the transaction was recorded based on the carryover basis of our previous investment. Woodfield Mall is encumbered by a $425.0 million mortgage loan which matures in March of 2024 and bears interest at 4.5%. In January 2013, the joint venture closed a $295.0 million mortgage on the Shops at Mission Viejo which bears interest at 3.61% and matures in February of 2023. The proceeds from the financing were distributed to the venture partners and, as a result, we received a distribution of $149.7 million.
	On March 22, 2012, we acquired, through an acquisition of substantially all of the assets of The Mills Limited Partnership, or TMLP, additional interests in 26 properties. The transaction resulted in additional interests in 16 of the properties which remain unconsolidated, the consolidation of nine previously unconsolidated properties and the purchase of the remaining noncontrolling interest in a previously consolidated property. The transaction was valued at $1.5 billion, which included repayment of the remaining $562.1 million balance on TMLP's senior loan facility, and retirement of $100.0 million of TMLP's trust preferred securities. In connection with the transaction, our $558.4 million loan to SPG-FCM was extinguished on a non-cash basis. We consolidated $2.6 billion in additional property-level mortgage debt in connection with this transaction. This property-level mortgage debt was previously presented as debt of our unconsolidated entities. We and our joint venture partner had equal ownership in these properties prior to the transaction.
	The consolidation of the previously unconsolidated properties resulted in a remeasurement of our previously held interest in each of these nine newly consolidated properties to fair value and recognition of a corresponding non-cash gain of $488.7 million. In addition, we recorded an other-than-temporary impairment charge of $22.4 million for the excess of carrying value of our remaining investment in SPG-FCM over its estimated fair value. The gain on the transaction and impairment charge are included in gain upon acquisition of controlling interests, sale or disposal of assets and interests in unconsolidated entities, and impairment charge on investment in unconsolidated entities, net in the accompanying consolidated statements of operations and comprehensive income. The assets and liabilities of the newly consolidated properties acquired in the Mills transaction have been reflected at their estimated fair value at the acquisition date.
	We recorded our acquisition of the interest in these nine newly consolidated properties using the acquisition method of accounting. Tangible and intangible assets and liabilities were established based on their fair values at the date of acquisition. The results of operations of the newly consolidated properties have been included in our consolidated results from the date of acquisition. The purchase price allocations were finalized during the first quarter of 2013. No significant adjustments were made to the previously reported purchase price allocations.
	On January 6, 2012, we paid $50.0 million to acquire an additional 25% interest in Del Amo Fashion Center, increasing our interest to 50%.
	On December 31, 2011, as further discussed in Note 4, we and our joint venture partner dissolved a venture in which we had a 50% interest and distributed a portfolio of properties previously held within the venture to us and our joint venture partner. The results of operations of these properties are now presented as loss from operations of discontinued joint venture interests and the non-cash gain of $168.3 million recorded upon distribution to the partners is presented within (loss) gain on sale or disposal of discontinued operations, net in the "Summary Financial Information" below.
	International Investments
	We conduct our international operations through joint venture arrangements and account for all of our international joint venture investments using the equity method of accounting
	European Investments.    At December 31, 2013, we owned 57,634,148 shares, or approximately 28.9%, of Klépierre, which had a quoted market price of $46.53 per share. At the date of purchase on March 14, 2012, our excess investment in Klépierre was approximately $1.2 billion which we have allocated to the underlying investment property, other assets and liabilities based on estimated fair value. Our share of net income, net of amortization of our excess investment, was $20.7 million for the year ended December 31, 2013. Our share of net income, net of the amortization of our excess investment, was $0.5 million from the acquisition date through December 31, 2012. Based on applicable Euro:USD exchange rates and after our conversion of Klépierre's results to GAAP, Klépierre's total assets, total liabilities, and noncontrolling interests were $17.1 billion, $12.3 billion, and $1.7 billion, respectively, as of December 31, 2013 and $17.2 billion, $12.4 billion, and $1.9 billion, respectively, as of December 31, 2012. Klépierre's total revenues, operating income and consolidated net income were approximately $1.5 billion, $989.6 million and $317.3 million, respectively, for the year ended December 31, 2013 and $1.1 billion, $394.7 million and $323.6 million, respectively, for the period of our ownership in 2012.
	During the second quarter of 2013, we signed a definitive agreement with McArthurGlen, an owner, developer, and manager of designer outlets, to form one or more joint ventures to invest in certain of its existing designer outlets, development projects, and its property management and development companies. In conjunction with that agreement, we purchased a noncontrolling interest in the property management and development companies of McArthurGlen, and a noncontrolling interest in a development property located in Vancouver, British Columbia. On August 2, 2013 we acquired a noncontrolling interest in Ashford Designer Outlets in Kent, UK. On October 16, 2013 we completed the remaining transactions contemplated by our previously announced definitive agreement with McArthurGlen by acquiring noncontrolling interests in portions of four existing McArthurGlen Designer Outlets — Parndorf (Vienna, Austria), La Reggia (Naples, Italy), Noventa di Piave (Venice, Italy), and Roermond (Roermond, Netherlands). Our legal ownership interests in these entities range from 22.5% to 90%. The aggregate consideration for the above transactions, which is subject to further adjustment based upon contractual obligations and customary purchase price adjustments, was approximately $496.7 million. The carrying amount of our investment in these joint ventures, including all related components of accumulated other comprehensive income (loss) as well as subsequent capital contributions for development, was $510.7 million as of December 31, 2013. Substantially all of our investment has been deemed excess investment and has been preliminarily allocated to the underlying investment property based on estimated fair values. The preliminary allocations are subject to revision within the measurement period, not to exceed one year from the date of the acquisitions.
	We also have a minority interest in Value Retail PLC, which owns and operates nine luxury outlets throughout Europe and a direct minority ownership in three of those outlets. These investments are accounted for under the cost method. At December 31, 2013 and 2012, the carrying value of these investments was $115.4 million and $95.5 million, respectively, and is included in deferred costs and other assets.
	On January 9, 2012, we sold our entire ownership interest in GCI to our venture partner, Auchan S.A. The aggregate cash we received was $375.8 million and we recognized a gain on the sale of $28.8 million. Our investment carrying value included $39.5 million of accumulated losses related to currency translation and net investment hedge accumulated balances which had been recorded in accumulated other comprehensive income (loss).
	Asian Joint Ventures.    We conduct our international Premium Outlet operations in Japan through a joint venture with Mitsubishi Estate Co., Ltd. We have a 40% ownership interest in this joint venture. The carrying amount of our investment in this joint venture was $261.1 million and $314.2 million as of December 31, 2013 and 2012, respectively; including all related components of accumulated other comprehensive income (loss). We conduct our international Premium Outlet operations in South Korea through a joint venture with Shinsegae International Co. We have a 50% ownership interest in this joint venture. The carrying amount of our investment in this joint venture was $76.4 million and $62.9 million as of December 31, 2013 and 2012, respectively; including all related components of accumulated other comprehensive income (loss).
	Summary Financial Information
	A summary of our equity method investments and share of income from such investments, excluding Klépierre, follows. The accompanying joint venture statements of operations include amounts related to our investment GCI which was sold on January 9, 2012. In addition, we acquired additional controlling interests in King of Prussia on August 25, 2011, and nine properties in the Mills transaction on March 22, 2012. These previously unconsolidated properties became consolidated properties as of their respective acquisition dates. Additionally, on December 31, 2011, we and our joint venture partner dissolved a venture in which we had a 50% interest and distributed a portfolio of properties previously held within the venture to us and our joint venture partner. During 2012, we disposed of our interests in one mall and three non-core retail properties. Finally, during 2013, we disposed of three non-core retail properties. These transactions are reported within discontinued operations in the accompanying joint venture statements of operations.
	BALANCE SHEETS
		December 31,			December 31,
		2013			2012
	Assets:
	Investment properties, at cost	$	15,824,689		$	14,607,291
	Less - accumulated depreciation		5,294,578			4,926,511
			10,530,111			9,680,780
	Cash and cash equivalents		792,751			619,546
	Tenant receivables and accrued revenue, net		310,320			252,774
	Investment in unconsolidated entities, at equity		38,352			39,589
	Deferred costs and other assets		586,622			438,399
	Total assets	$	12,258,156		$	11,031,088
	Liabilities and Partners' Deficit:
	Mortgages	$	13,024,257		$	11,584,863
	Accounts payable, accrued expenses, intangibles, and deferred revenues		849,107			672,483
	Other liabilities		514,822			447,132
	Total liabilities		14,388,186			12,704,478
	Preferred units		67,450			67,450
	Partners' deficit		(2,197,480	)		(1,740,840	)
	Total liabilities and partners' deficit	$	12,258,156		$	11,031,088
	Our Share of:
	Partners' deficit	$	(717,776	)	$	(799,911	)
	Add: Excess Investment		2,059,584			2,184,133
	Our net Investment in unconsolidated entities, at equity	$	1,341,808		$	1,384,222
	"Excess Investment" represents the unamortized difference of our investment over our share of the equity in the underlying net assets of the joint ventures or other investments acquired and is allocated on a fair value basis primarily to investment property, lease related intangibles, and debt premiums and discounts. We amortize excess investment over the life of the related depreciable components of investment property, typically no greater than 40 years, the terms of the applicable leases and the applicable debt maturity, respectively. The amortization is included in the reported amount of income from unconsolidated entities.
	As of December 31, 2013, scheduled principal repayments on joint venture properties' mortgage indebtedness are as follows:
	2014	$	1,103,850
	2015		2,090,963
	2016		1,304,721
	2017		866,378
	2018		736,078
	Thereafter		6,917,266
	Total principal maturities		13,019,256
	Net unamortized debt premiums and discounts		5,001
	Total mortgages	$	13,024,257
	This debt becomes due in installments over various terms extending through 2027 with interest rates ranging from 0.46% to 9.35% and a weighted average rate of 4.60% at December 31, 2013.
	In November 2013, Aventura Mall in which we own a 33% interest refinanced its $430.0 million mortgage maturing December 11, 2017 with a $1.2 billion mortgage that matures December 1, 2020. The fixed interest rate was reduced from 5.91% to 3.75% as a result of this transaction and an extinguishment charge of $82.8 million was incurred which is included in interest expense in the accompanying joint venture statements of operations. Excess proceeds from the financing were distributed to the venture partners.
	STATEMENTS OF OPERATIONS
		For the Year Ended
		December 31,
		2013			2012			2011
	Revenue:
	Minimum rent	$	1,666,886		$	1,487,554		$	1,424,038
	Overage rent		180,772			176,609			140,822
Tenant reimbursements		765,357			691,564			660,354
Other income		200,104			171,698			150,949
Total revenue		2,813,119			2,527,425			2,376,163
Operating Expenses:
Property operating		498,485			477,338			460,235
Depreciation and amortization		528,317			508,083			487,057
Real estate taxes		212,667			178,739			167,608
Repairs and maintenance		69,116			65,163			64,271
Advertising and promotion		62,339			55,175			50,653
Provision for credit losses		1,287			1,824			4,496
Other		156,115			170,510			148,110
Total operating expenses		1,528,326			1,456,832			1,382,430
Operating Income		1,284,793			1,070,593			993,733
Interest expense		(694,904	)		(599,400	)		(593,408	)
Income from Continuing Operations		589,889			471,193			400,325
Gain (loss) from operations of discontinued joint venture interests		46			(20,311	)		(57,961	)
Gain (loss) on disposal of discontinued operations, net		51,164			(5,354	)		347,640
Net Income	$	641,099		$	445,528		$	690,004
Third-Party Investors' Share of Net Income	$	353,708		$	239,931		$	384,384
Our Share of Net Income		287,391			205,597			305,620
Amortization of Excess Investment		(102,875	)		(83,400	)		(50,562	)
Our Share of Loss (Gain) on Sale or Disposal of Assets and Interests in Unconsolidated Entities, net		—			9,245			(173,820	)
Income from Unconsolidated Entities	$	184,516		$	131,442		$	81,238
Our share of income from unconsolidated entities in the above table, aggregated with our share of results of Klépierre, is presented in income from unconsolidated entities in the accompanying consolidated statements of operations and comprehensive income. Our share of the loss (gain) on sale or disposal of assets and interests in unconsolidated entities, net is reflected within gain upon acquisition of controlling interests, sale or disposal of assets and interests in unconsolidated entities, and impairment charge on investment in unconsolidated entities, net in the accompanying consolidated statements of operations and comprehensive income.
2013 Dispositions
In 2013, we disposed of our interest in three non-core retail properties. We recognized no gain or loss on the disposal of these properties.
2012 Dispositions
In July 2012, we disposed of our interest in a mall, and in August 2012 we disposed of our interest in three non-core retail properties. Our share of the net loss on disposition was $9.2 million.
2011 Dispositions
In April 2011, we disposed of our interest in a mall, resulting in a gain of $7.8 million.

Indebtedness_and_Derivative_Fi

Indebtedness and Derivative Financial Instruments	12 Months Ended
	Dec. 31, 2013
Indebtedness and Derivative Financial Instruments	'
Indebtedness and Derivative Financial Instruments	'
	8. Indebtedness and Derivative Financial Instruments
	Our mortgages and unsecured indebtedness, excluding the impact of derivative instruments, consist of the following as of December 31:
		2013			2012
	Fixed-Rate Debt:
	Mortgage notes, including $63,968 and $101,104 net premiums, respectively. Weighted average interest and maturity of 5.62% and 4.2 years at December 31, 2013.	$	7,894,527		$	7,677,204
	Unsecured notes, including $38,519 and $38,847 net discounts, respectively. Weighted average interest and maturity of 4.87% and 6.4 years at December 31, 2013.		13,931,705			13,400,154
	Total Fixed-Rate Debt		21,826,232			21,077,358
	Variable-Rate Debt:
	Mortgages notes, at face value. Weighted average interest and maturity of 1.52% and 3.7 years at December 31, 2013.		350,000			442,152
	Unsecured Term Loan (see below)		240,000			—
	Credit Facility (see below)		1,172,299			1,593,497
	Total Variable-Rate Debt		1,762,299			2,035,649
	Total Mortgages and Unsecured Indebtedness	$	23,588,531		$	23,113,007
	General.    Our unsecured debt agreements contain financial covenants and other non-financial covenants. If we were to fail to comply with these covenants, after the expiration of the applicable cure periods, the debt maturity could be accelerated or other remedies could be sought by the lender including adjustments to the applicable interest rate. As of December 31, 2013, we are in compliance with all covenants of our unsecured debt.
	At December 31, 2013, we or our subsidiaries were the borrowers under 80 non-recourse mortgage notes secured by mortgages on 80 properties, including seven separate pools of cross-defaulted and cross-collateralized mortgages encumbering a total of 27 properties. Under these cross-default provisions, a default under any mortgage included in the cross-defaulted pool may constitute a default under all mortgages within that pool and may lead to acceleration of the indebtedness due on each property within the pool. Certain of our secured debt instruments contain financial and other non-financial covenants which are specific to the properties which serve as collateral for that debt. If the borrower fails to comply with these covenants, the lender could accelerate the debt and enforce its right against their collateral. At December 31, 2013, the applicable borrowers under these non-recourse mortgage notes were in compliance with all covenants where non-compliance could individually, or giving effect to applicable cross-default provisions in the aggregate, have a material adverse effect on our financial condition, results of operations or cash flows.
	Unsecured Debt
	At December 31, 2013, our unsecured debt consisted of $13.9 billion of senior unsecured notes of the Operating Partnership, net of discounts, $960.1 million outstanding under our $4.0 billion unsecured revolving credit facility, or Credit Facility, and $212.2 million outstanding under our $2.0 billion supplemental unsecured revolving credit facility, or Supplemental Facility, and $240.0 million outstanding under an unsecured term loan. The December 31, 2013 balance on the Credit Facility included $660.1 million (U.S. dollar equivalent) of Euro-denominated borrowings and the entire balance on the Supplemental Facility on such date consisted of Yen-denominated borrowings, both of which are designated as net investment hedges of a portion of our international investments.
	On December 31, 2013, we had an aggregate available borrowing capacity of $4.8 billion under the two credit facilities. The maximum outstanding balance of the credit facilities during the year ended December 31, 2013 was $1.6 billion and the weighted average outstanding balance was $1.3 billion. Letters of credit of $41.9 million were outstanding under the two facilities as of December 31, 2013.
	The Credit Facility's initial borrowing capacity of $4.0 billion can be increased at our sole option to $5.0 billion during its term. The Credit Facility will initially mature on October 30, 2015 and can be extended for an additional year at our sole option. As of December 31, 2013, the base interest rate on the Credit Facility was LIBOR plus 95 basis points (reflects a five basis point reduction effective May 16, 2013) with an additional facility fee of 15 basis points. In addition, the Credit Facility provides for a money market competitive bid option program that allows us to hold auctions to achieve lower pricing for short-term borrowings. The Credit Facility also includes a $2.0 billion multi-currency tranche.
	The Supplemental Facility's borrowing capacity of $2.0 billion can be increased at our sole option to $2.5 billion during its term. The Supplemental Facility will initially mature on June 30, 2016 and can be extended for an additional year at our sole option. As of December 31, 2013, the base interest rate on the Supplemental Facility was LIBOR plus 95 basis points (reflects a five basis point reduction effective May 16, 2013) with an additional facility fee of 15 basis points. Like the Credit Facility, the Supplemental Facility provides for a money market competitive bid option program and allows for multi-currency borrowings.
	During 2013, we redeemed at par or repaid at maturity $504.5 million of senior unsecured notes with fixed rates ranging from 5.30% to 7.18% with cash on hand. In addition, we repaid a $240.0 million mortgage loan with the proceeds from a $240.0 million unsecured term loan. The term loan has a capacity of up to $300.0 million, bears interest at LIBOR plus 110 basis points and matures on February 28, 2016 with two available one-year extension options.
	On October 2, 2013, the Operating Partnership issued €750.0 million ($1.0 billion USD equivalent) of senior unsecured notes at a fixed interest rate of 2.375% with a maturity date of October 2, 2020. Proceeds from the unsecured notes offering were used to pay down a portion of Euro-denominated borrowings on the Credit Facility and fund the acquisition of various assets in the McArthurGlen transactions further discussed in Note 7. These notes are designated as a net investment hedge of our Euro-denominated international investments.
	On December 30, 2013, we borrowed $300.0 million on our Credit Facility to partially fund the Sawgrass Mills mortgage repayment on January 2, 2014. These Credit Facility borrowings were repaid in full on January 22, 2014 using unsecured notes proceeds as discussed below.
	On January 21, 2014, the Operating Partnership issued $600.0 million of senior unsecured notes at a fixed interest rate of 2.20% with a maturity date of February 1, 2019 and $600.0 million of senior unsecured notes at a fixed interest rate of 3.75% with a maturity date of February 1, 2024. Proceeds from the unsecured notes offering were used to repay debt and for general corporate purposes.
	Mortgage Debt
	Total mortgage indebtedness was $8.2 billion and $8.0 billion at December 31, 2013 and 2012, respectively. During 2013, we added $370.0 million in new mortgage loans on previously unencumbered properties with a weighted average interest rate of 4.04%.
	On January 2, 2014, we repaid the $820.0 million outstanding mortgage at Sawgrass Mills originally maturing July 1, 2014 with cash on hand and a borrowing on our Credit Facility as discussed above.
	Debt Maturity and Other
	Our scheduled principal repayments on indebtedness as of December 31, 2013 are as follows:
	2014	$	2,072,529
	2015		1,972,833
	2016		5,005,080
	2017		3,594,748
	2018		2,031,818
	Thereafter		8,886,074
	Total principal maturities		23,563,082
	Net unamortized debt premium		25,449
	Total mortgages and unsecured indebtedness	$	23,588,531
	Our cash paid for interest in each period, net of any amounts capitalized, was as follows:
		For the Year Ended December 31,
		2013			2012			2011
	Cash paid for interest	$	1,142,201		$	1,122,223		$	979,436
	Derivative Financial Instruments
	Our exposure to market risk due to changes in interest rates primarily relates to our long-term debt obligations. We manage exposure to interest rate market risk through our risk management strategy by a combination of interest rate protection agreements to effectively fix or cap a portion of variable rate debt. We are also exposed to foreign currency risk on financings of certain foreign operations. Our intent is to offset gains and losses that occur on the underlying exposures, with gains and losses on the derivative contracts hedging these exposures. We do not enter into either interest rate protection or foreign currency rate protection agreements for speculative purposes.
	We may enter into treasury lock agreements as part of an anticipated debt issuance. Upon completion of the debt issuance, the fair value of these instruments is recorded as part of accumulated other comprehensive income (loss) and is amortized to interest expense over the life of the debt agreement.
	The unamortized loss on our treasury locks and terminated hedges recorded in accumulated other comprehensive income (loss) was $67.5 million and $78.0 million as of December 31, 2013 and 2012, respectively. As of December 31, 2013, our outstanding LIBOR based derivative contracts consisted of:
	•
	interest rate cap protection agreements with a notional amount of $248.3 million which mature in June 2014, and
	•
	fixed rate swap agreements with a notional amount of $491.6 million which have a weighted average fixed pay rate of 3.13% and a weighted average variable receive rate of 2.0%.
	Within the next year, we expect to reclassify to earnings approximately $10.4 million of losses related to active and terminated interest rate swaps from the current balance held in accumulated other comprehensive income (loss).
	Fair Value of Debt
	The carrying value of our variable-rate mortgages and other loans approximates their fair values. We estimate the fair values of consolidated fixed-rate mortgages using cash flows discounted at current borrowing rates and other indebtedness using cash flows discounted at current market rates. We estimate the fair values of consolidated fixed-rate unsecured notes using quoted market prices, or, if no quoted market prices are available, we use quoted market prices for securities with similar terms and maturities. The book value of our consolidated fixed-rate mortgages and unsecured indebtedness was $21.8 billion and $21.0 billion as of December 31, 2013 and 2012, respectively. The fair values of these financial instruments and the related discount rate assumptions as of December 31 are summarized as follows:
		2013			2012
	Fair value of fixed-rate mortgages and unsecured indebtedness	$	23,297		$	23,373
	Weighted average discount rates assumed in calculation of fair value for fixed-rate mortgages		3.07	%		3.24	%

Rentals_under_Operating_Leases

Rentals under Operating Leases	12 Months Ended
	Dec. 31, 2013
Rentals under Operating Leases	'
Rentals under Operating Leases	'
	9. Rentals under Operating Leases
	Future minimum rentals to be received under non-cancelable tenant operating leases for each of the next five years and thereafter, excluding tenant reimbursements of operating expenses and percentage rent based on tenant sales volume as of December 31, 2013 are as follows:
	2014	$	2,774,293
	2015		2,507,650
	2016		2,228,505
	2017		1,943,459
	2018		1,618,167
	Thereafter		4,614,730
		$	15,686,804

Equity

Equity	12 Months Ended
	Dec. 31, 2013
Equity	'
Equity	'
	10. Equity
	Our Board of Directors is authorized to reclassify excess common stock into one or more additional classes and series of capital stock, to establish the number of shares in each class or series and to fix the preferences, conversion and other rights, voting powers, restrictions, limitations as to dividends, and qualifications and terms and conditions of redemption of such class or series, without any further vote or action by the stockholders. The issuance of additional classes or series of capital stock may have the effect of delaying, deferring or preventing a change in control of us without further action of the stockholders. The ability to issue additional classes or series of capital stock, while providing flexibility in connection with possible acquisitions and other corporate purposes, could have the effect of making it more difficult for a third party to acquire, or of discouraging a third party from acquiring, a majority of our outstanding voting stock.
	Holders of our common stock are entitled to one vote for each share held of record on all matters submitted to a vote of stockholders, other than for the election of directors. The holders of our Class B common stock have the right to elect up to four members of the Board of Directors. All 8,000 outstanding shares of the Class B common stock are subject to two voting trusts as to which Herbert Simon and David Simon are the trustees. Shares of Class B common stock convert automatically into an equal number of shares of common stock upon the occurrence of certain events and can be converted into shares of common stock at the option of the holders.
	Common Stock Issuances
	In 2013, we issued 596,051 shares of common stock to 11 limited partners of the Operating Partnership in exchange for an equal number of units pursuant to the partnership agreement of the Operating Partnership.
	We issued 1,567 shares of common stock related to employee stock options exercised during 2013. We used the net proceeds from the option exercises to acquire additional units in the Operating Partnership.
	Temporary Equity
	We classify as temporary equity those securities for which there is the possibility that we could be required to redeem the security for cash irrespective of the probability of such a possibility. As a result, we classify one series of preferred units of the Operating Partnership and noncontrolling redeemable interests in properties in temporary equity. Each of these securities is discussed further below.
	Limited Partners' Preferred Interest in the Operating Partnership and Noncontrolling Redeemable Interests in Properties.    The following table summarizes the preferred units of the Operating Partnership and the amount of the noncontrolling redeemable interests in properties as of December 31. The redemption features of the preferred units of the Operating Partnership contain provisions which could require us to settle the redemption in cash. As a result, this series of preferred units in the Operating Partnership remains classified outside permanent equity. The remaining interests in a property or portfolio of properties which are redeemable at the option of the holder or in circumstances that may be outside our control, are accounted for as temporary equity within limited partners' preferred interest in the Operating Partnership and noncontrolling redeemable interests in properties in the accompanying consolidated balance sheets. The carrying amount of the noncontrolling interest is adjusted to the redemption amount assuming the instrument is redeemable at the balance sheet date. Changes in the redemption value of the underlying noncontrolling interest are recorded within accumulated deficit. There are no noncontrolling interests redeemable at amounts in excess of fair value.
	On January 10, 2014, we acquired one of our partner's remaining redeemable interests in a portfolio of ten properties for approximately $113.3 million subject to a pre-existing contractual arrangement. The amount paid to acquire the interests in the seven properties which were previously consolidated is included in limited partners' preferred interest in the Operating Partnership and noncontrolling redeemable interest in properties in the accompanying December 31, 2013 consolidated balance sheet.
		2013			2012
	7.50% Cumulative Redeemable Preferred Units, 260,000 units authorized, 255,373 issued and outstanding	$	25,537		$	25,537
	Other noncontrolling redeemable interests in properties		164,948			152,469
	Limited partners' preferred interest in the Operating Partnership and other noncontrolling redeemable interests in properties	$	190,485		$	178,006
	7.50% Cumulative Redeemable Preferred Units.    This series of preferred units accrues cumulative quarterly distributions at a rate of $7.50 annually. The preferred units are redeemable by the Operating Partnership upon the death of the survivor of the original holders, or the transfer of any units to any person or entity other than the persons or entities entitled to the benefits of the original holder. The redemption price is the liquidation value ($100.00 per preferred unit) plus accrued and unpaid distributions, payable either in cash or fully registered shares of our common stock at our election. In the event of the death of a holder of the preferred units, the occurrence of certain tax triggering events applicable to the holder, or on or after November 10, 2006, the holder may require the Operating Partnership to redeem the preferred units at the same redemption price payable at the option of the Operating Partnership in either cash or shares of common stock.
	Permanent Equity
	Preferred Stock.    Dividends on all series of preferred stock are calculated based upon the preferred stock's preferred return multiplied by the preferred stock's corresponding liquidation value. The Operating Partnership pays preferred distributions to us equal to the dividends we pay on the preferred stock issued.
	Series J 83/8% Cumulative Redeemable Preferred Stock.    Dividends accrue quarterly at an annual rate of 83/8% per share. We can redeem this series, in whole or in part, on or after October 15, 2027 at a redemption price of $50.00 per share, plus accumulated and unpaid dividends. This preferred stock was issued at a premium of $7.5 million. The unamortized premium included in the carrying value of the preferred stock at December 31, 2013 and 2012 was $4.5 million and $4.9 million, respectively.
	Other Equity Activity
	Notes Receivable from Former CPI Stockholders.    Notes receivable of $15.3 million from stockholders of an entity we acquired in 1998 are reflected as a deduction from capital in excess of par value in the consolidated statements of equity in the accompanying financial statements. The notes do not bear interest and become due at the time the underlying shares are sold.
	The Simon Property Group 1998 Stock Incentive Plan.    This plan, or the 1998 plan, provides for the grant of equity-based awards in the form of options to purchase shares, stock appreciation rights, restricted stock grants and performance-based unit awards. Options may be granted which are qualified as "incentive stock options" within the meaning of Section 422 of the Internal Revenue Code and options which are not so qualified. An aggregate of 17,300,000 shares of common stock have been reserved for issuance under the 1998 plan. Additionally, the partnership agreement requires us to purchase operating partnership units for cash in an amount equal to the fair market value of such shares.
	Administration.    The 1998 plan is administered by the Compensation Committee of the Board of Directors, or the Compensation Committee. The Compensation Committee determines which eligible individuals may participate and the type, extent and terms of the awards to be granted to them. In addition, the Compensation Committee interprets the 1998 plan and makes all other determinations deemed advisable for its administration. Options granted to employees become exercisable over the period determined by the Compensation Committee. The exercise price of an employee option may not be less than the fair market value of the shares on the date of grant. Employee options generally vest over a three-year period and expire ten years from the date of grant.
	Awards for Eligible Directors.    Directors who are not also our employees or employees of our affiliates are eligible to receive awards under the 1998 plan. Currently, each eligible director receives on the first day of the first calendar month following his or her initial election an award of restricted stock with a value of $82,500 (pro-rated for partial years of service). Thereafter, as of the date of each annual meeting of stockholders, eligible directors who are re-elected receive an award of restricted stock having a value of $82,500. In addition, eligible directors who serve as chairpersons of the standing committees receive an additional annual award of restricted stock having a value of $10,000 (in the case of the Audit and Compensation Committees) or $7,500 (in the case of the Governance and Nominating Committees). The Lead Independent Director also receives an annual restricted stock award having a value of $12,500. The restricted stock vests in full after one year.
	Once vested, the delivery of the shares of restricted stock (including reinvested dividends) is deferred under our Director Deferred Compensation Plan until the director retires, dies or becomes disabled or otherwise no longer serves as a director. The directors may vote and are entitled to receive dividends on the underlying shares; however, any dividends on the shares of restricted stock must be reinvested in shares of common stock and held in the deferred compensation plan until the shares of restricted stock are delivered to the former director.
	Stock Based Compensation
	Awards under our stock based compensation plans primarily take the form of LTIP units and restricted stock grants. Restricted stock and awards under the LTIP programs are all performance based and are based on various corporate and business unit performance measures as further described below. The expense related to these programs, net of amounts capitalized, is included within home and regional office costs and general and administrative costs in the accompanying statements of operations and comprehensive income.
	LTIP Programs.    Every year since 2010, the Compensation Committee has approved long-term, performance based incentive compensation programs, or the LTIP programs, for certain senior executive officers. Awards under the LTIP programs take the form of LTIP units, a form of limited partnership interest issued by the Operating Partnership, and will be considered earned if, and only to the extent to which, applicable total shareholder return, or TSR, performance measures are achieved during the performance period. Once earned, LTIP units are subject to a two year vesting period. One-half of the earned LTIP units will vest on January 1 of each of the 2nd and 3rd years following the end of the applicable performance period, subject to the participant maintaining employment with us through those dates and certain other conditions as described in those agreements. Awarded LTIP units not earned are forfeited. Earned and fully vested LTIP units are the equivalent of units. During the performance period, participants are entitled to receive distributions on the LTIP units awarded to them equal to 10% of the regular quarterly distributions paid on a unit of the Operating Partnership. As a result, we account for these LTIP units as participating securities under the two-class method of computing earnings per share.
	From 2010 to 2013, the Compensation Committee approved LTIP grants as shown in the table below. Grant date fair values of the LTIP units are estimated using a Monte Carlo model, and the resulting expense is recorded regardless of whether the TSR performance measures are achieved if the required service is delivered. The grant date fair values are being amortized into expense over the period from the grant date to the date at which the awards, if any, would become vested. The extent to which LTIP units that were earned and the aggregate grant date fair values adjusted for estimated forfeitures, are as set forth as follows:
	LTIP Program	LTIP Units Earned		Grant Date Fair Value
	2010 LTIP Program
	1-year 2010 LTIP Program	133,673		1-year program — $7.2 million
	2-year 2010 LTIP Program	337,006		2-year program — $14.8 million
	3-year 2010 LTIP Program	489,654		3-year program — $23.0 million
	2011-2013 LTIP Program	469,848		$35.0 million
	2012-2014 LTIP Program	To be determined in 2015		$35.0 million
	2013-2015 LTIP Program	To be determined in 2016		$33.5 million
	We recorded compensation expense, net of capitalization, related to these LTIP programs of approximately $25.7 million, $22.0 million, and $16.5 million for the years ended December 31, 2013, 2012 and 2011, respectively.
	Restricted Stock.    The 1998 plan also provides for shares of restricted stock to be granted to certain employees at no cost to those employees, subject to achievement of individual performance and certain financial and return-based performance measures established by the Compensation Committee related to the most recent year's performance. Once granted, the shares of restricted stock then vest annually over a three-year period beginning on January 1 of each year. The cost of restricted stock grants, which is based upon the stock's fair market value on the grant date, is recognized as expense ratably over the vesting period. Through December 31, 2013 a total of 5,447,436 shares of restricted stock, net of forfeitures, have been awarded under the plan. Information regarding restricted stock awards is summarized in the following table for each of the years presented:
		For the Year Ended
		December 31,
		2013			2012		2011
	Shares of restricted stock awarded during the year, net of forfeitures		107,123			114,066		116,885
	Weighted average fair value of shares granted during the year	$	160.2		$	146.7	$	110.12
	Amortization expense	$	18,311		$	14,001	$	14,018
	We recorded compensation expense, net of capitalization, related to restricted stock of approximately $12.7 million, $9.8 million, and $9.7 million for the years ended December 31, 2013, 2012 and 2011, respectively.
	Other Compensation Arrangements.    On July 6, 2011, in connection with the execution of an employment agreement, the Compensation Committee granted David Simon, our Chairman and CEO, a retention award in the form of 1,000,000 LTIP units (the "Award") for his continued service as our Chairman and Chief Executive Officer through July 5, 2019. Effective December 31, 2013, the Award was modified ("Current Award") and as a result the LTIP units will now become earned and eligible to vest based on the attainment of Company-based performance goals, in addition to the service-based vesting requirement included in the original Award. If the relevant performance criteria are not achieved, all or a portion of the Current Award will be forfeited. The Current Award does not contain an opportunity for Mr. Simon to receive additional LTIP Units above and beyond the original Award should our performance exceed the higher end of the performance criteria. The performance criteria of the Current Award are based on the attainment of specific funds from operations ("FFO") per share. If the performance criteria have been met, a maximum of 360,000 LTIP units ("A Units"), 360,000 LTIP units ("B Units") and 280,000 LTIP units ("C Units") may become earned December 31, 2015, 2016 and 2017, respectively. The earned A Units will vest on January 1, 2018, earned B Units will vest on January 1, 2019 and earned C Units will vest on June 30, 2019, subject to continued employment through such applicable date. The grant date fair value of the retention award of $120.3 million is being recognized as expense over the eight-year term of his employment agreement on a straight-line basis based through the applicable vesting periods of the A Units, B Units and C Units.
	Since 2001, we have not granted any options to officers, directors or employees, except for a series of reload options we assumed as part of a prior business combination. During the year ended December 31, 2013, 1,567 options with a weighted average exercise price per share of $50.17 were exercised. As of December 31, 2013, there were no remaining options outstanding.
	We also maintain a tax-qualified retirement 401(k) savings plan and offer no other post-retirement or post-employment benefits to our employees.
	Exchange Rights
	Limited partners in the Operating Partnership have the right to exchange all or any portion of their units for shares of common stock on a one-for-one basis or cash, as determined by the Board of Directors. The amount of cash to be paid if the exchange right is exercised and the cash option is selected will be based on the trading price of our common stock at that time. At December 31, 2013, we had reserved 57,274,430 shares of common stock for possible issuance upon the exchange of units, stock options and Class B common stock.

Commitments_and_Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2013
Commitments and Contingencies.	'
Commitments and Contingencies	'
	11. Commitments and Contingencies
	Litigation
	We are involved from time-to-time in various legal proceedings that arise in the ordinary course of our business, including, but not limited to commercial disputes, environmental matters, and litigation in connection with transactions including acquisitions and divestitures. We believe that such litigation, claims and administrative proceedings will not have a material adverse impact on our financial position or our results of operations. We record a liability when a loss is considered probable and the amount can be reasonably estimated.
	In May 2010, Opry Mills sustained significant flood damage. Insurance proceeds of $50 million have been funded by the insurers and remediation work has been completed. The property was re-opened March 29, 2012. The excess insurance carriers (those providing coverage above $50 million) have denied the claim under the policy for additional proceeds (of up to $150 million) to pay further amounts for restoration costs and business interruption losses. We and our lenders are continuing our efforts through pending litigation to recover our losses under the excess insurance policies for Opry Mills and we believe recovery is probable, but no assurances can be made that our efforts to recover these funds will be successful.
	Lease Commitments
	As of December 31, 2013, a total of 28 of the consolidated properties are subject to ground leases. The termination dates of these ground leases range from 2014 to 2090. These ground leases generally require us to make fixed annual rental payments, or a fixed annual rental plus a percentage rent component based upon the revenues or total sales of the property. In addition, we have several regional office locations that are subject to leases with termination dates ranging from 2014 to 2028. These office leases generally require us to make fixed annual rental payments plus pay our share of common area, real estate and utility expenses. Some of our ground and office leases include escalation clauses and renewal options. We incurred ground lease expense and office lease expense, which are included in other expense and home office and regional expense, respectively, as follows:
		For the Year Ended,
		December 31,
		2013		2012		2011
	Ground lease expense	$	40,042	$	43,421	$	42,284
	Office lease expense		4,057		2,004		2,047
	Future minimum lease payments due under these leases for years ending December 31, excluding applicable extension options and any sublease income, are as follows:
	2014	$	25,974
	2015		30,991
	2016		36,851
	2017		36,863
	2018		36,818
	Thereafter		1,012,997
		$	1,180,494
	Insurance
	We maintain insurance coverage with third party carriers who provide a portion of the coverage for specific layers of potential losses including commercial general liability, fire, flood, extended coverage and rental loss insurance on all of our properties in the United States. The initial portion of coverage not provided by third party carriers is either insured through our wholly-owned captive insurance companies, Rosewood Indemnity, Ltd. and Bridgewood Insurance Company, Ltd., or other financial arrangements controlled by us. The third party carrier has, in turn, agreed to provide evidence of coverage for this layer of losses under the terms and conditions of the carrier's policy. A similar policy written through our captive insurance entities also provides initial coverage for property insurance and certain windstorm risks at the properties located in coastal windstorm locations.
	We currently maintain insurance coverage against acts of terrorism on all of our properties in the United States on an "all risk" basis in the amount of up to $1 billion. The current federal laws which provide this coverage are expected to operate through 2014. Despite the existence of this insurance coverage, any threatened or actual terrorist attacks where we operate could adversely affect our property values, revenues, consumer traffic and tenant sales.
	Guarantees of Indebtedness
	Joint venture debt is the liability of the joint venture and is typically secured by the joint venture property, which is non-recourse to us. As of December 31, 2013 and 2012, the Operating Partnership guaranteed joint venture related mortgage indebtedness of $190.8 million and $84.9 million, respectively (of which we have a right of recovery from our venture partners of $83.0 million and $38.6 million, respectively). Mortgages guaranteed by us are secured by the property of the joint venture which could be sold in order to satisfy the outstanding obligation and which has an estimated fair value in excess of the guaranteed amount.
	Concentration of Credit Risk
	Our malls, Premium Outlets, The Mills, and community/lifestyle centers rely heavily upon anchor tenants to attract customers; however, anchor retailers do not contribute materially to our financial results as many anchor retailers own their spaces. All material operations are within the United States and no customer or tenant accounts for 5% or more of our consolidated revenues.
	Limited Life Partnerships
	We are the controlling partner in several consolidated partnerships that have a limited life. We estimated the settlement values of these noncontrolling interests as of December 31, 2013 and 2012 as approximately $125.0 million and $143.0 million, respectively. The settlement values are based on the estimated fair values upon a hypothetical liquidation of the partnership interests and estimated yield maintenance or prepayment penalties associated with the payment to settle any underlying secured mortgage debt.

Related_Party_Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2013
Related Party Transactions	'
Related Party Transactions	'
	12. Related Party Transactions
	Our management company provides management, insurance, and other services to Melvin Simon & Associates, Inc., a related party, unconsolidated joint ventures, and other non-owned related party properties. Amounts for services provided by our management company and its affiliates to our unconsolidated joint ventures and other related parties were as follows:
		For the Year Ended
		December 31,
		2013		2012		2011
	Amounts charged to unconsolidated joint ventures	$	121,996	$	119,534	$	125,306
	Amounts charged to properties owned by related parties		4,510		4,416		4,353
	During 2012 and 2011, we recorded interest income of $2.0 million and $9.8 million, respectively, net of inter-entity eliminations, related to the loans that we provided to TMLP and SPG-FCM. The loan to SPG-FCM was extinguished in the Mills transaction in 2012. In addition, during 2013, 2012 and 2011, we recorded development, royalty and other fee income related to our international investments of $14.0 million, $15.5 million and $12.3 million, respectively. Also during 2013, 2012 and 2011, we received fees related to financing activities, net of elimination, provided to unconsolidated joint ventures of $15.9 million, $3.0 million and $1.8 million, respectively. The fees related to our international investments and financing activities are included in other income in the accompanying consolidated statements of operations and comprehensive income.

Quarterly_Financial_Data_Unaud

Quarterly Financial Data (Unaudited)	12 Months Ended
	Dec. 31, 2013
Quarterly Financial Data (Unaudited)	'
Quarterly Financial Data (Unaudited)	'
	13. Quarterly Financial Data (Unaudited)
	Quarterly 2013 and 2012 data is summarized in the table below. Quarterly amounts may not sum to annual amounts due to rounding.
		First		Second		Third		Fourth
		Quarter		Quarter		Quarter		Quarter
	2013
	Total revenue	$	1,215,058	$	1,236,563	$	1,302,256	$	1,416,260
	Operating income		557,689		564,890		600,565		692,546
	Consolidated net income		334,468		400,525		367,293		449,304
	Net income attributable to common stockholders		283,138		339,936		311,675		381,555
	Net income per share — Basic	$	0.91	$	1.1	$	1	$	1.23
	Net income per share — Diluted	$	0.91	$	1.1	$	1	$	1.23
	Weighted average shares outstanding		309,986,506		310,261,278		310,332,777		310,434,337
	Diluted weighted average shares outstanding		309,986,709		310,261,278		310,332,777		310,434,337
	2012
	Total revenue	$	1,118,969	$	1,188,066	$	1,228,617	$	1,344,431
	Operating income		516,721		524,327		564,953		614,598
	Consolidated net income		781,829		260,936		306,371		370,496
	Net income attributable to common stockholders		645,410		215,445		254,921		315,383
	Net income per share — Basic	$	2.18	$	0.71	$	0.84	$	1.01
	Net income per share — Diluted	$	2.18	$	0.71	$	0.84	$	1.01
	Weighted average shares outstanding		295,693,410		303,252,359		304,107,489		303,137,350
	Diluted weighted average shares outstanding		295,694,520		303,253,401		304,108,559		303,138,422

Schedule_III_Real_Estate_and_A

Schedule III Real Estate and Accumulated Depreciation	12 Months Ended
	Dec. 31, 2013
Schedule III Real Estate and Accumulated Depreciation	'
Schedule III Real Estate and Accumulated Depreciation	'
	SCHEDULE III
	Simon Property Group, Inc. and Subsidiaries
	Real Estate and Accumulated Depreciation
	December 31, 2013
	(Dollars in thousands)
												Cost Capitalized				Gross Amounts At Which
							Initial Cost (3)					Subsequent to				Carried At Close of Period
												Acquisition (3)												Date of
																								Construction
																								or
	Name	Location		Encumbrances (6)			Land			Buildings and		Land		Buildings and		Land		Buildings and		Total (1)		Accumulated		Acquisition
										Improvements				Improvements				Improvements				Depreciation (2)
	Malls
	Anderson Mall	Anderson, SC			20,398		$	1,712		$	15,227	$	851	$	20,893	$	2,563	$	36,120	$	38,683	$	18,074	1972
	Bangor Mall	Bangor, ME			80,000			5,478			59,740		—		12,068		5,478		71,808		77,286		29,938	2004 (5)
	Barton Creek Square	Austin, TX			—			2,903			20,929		7,983		63,969		10,886		84,898		95,784		51,860	1981
	Battlefield Mall	Springfield, MO			125,000			3,919			27,231		3,000		64,059		6,919		91,290		98,209		60,631	1970
	Bay Park Square	Green Bay, WI			—			6,358			25,623		4,106		26,331		10,464		51,954		62,418		26,730	1980
	Bowie Town Center	Bowie (Washington, D.C.), MD			—			2,710			65,044		235		10,851		2,945		75,895		78,840		31,339	2001
	Boynton Beach Mall	Boynton Beach (Miami), FL			—			22,240			78,804		4,666		27,315		26,906		106,119		133,025		53,062	1985
	Brea Mall	Brea (Los Angeles), CA			—			39,500			209,202		—		42,967		39,500		252,169		291,669		104,653	1998 (4)
	Broadway Square	Tyler, TX			—			11,306			32,431		—		23,763		11,306		56,194		67,500		29,351	1994 (4)
	Brunswick Square	East Brunswick (New York), NJ			76,672			8,436			55,838		—		30,694		8,436		86,532		94,968		44,430	1973
	Burlington Mall	Burlington (Boston), MA			—			46,600			303,618		19,600		97,860		66,200		401,478		467,678		160,319	1998 (4)
	Castleton Square	Indianapolis, IN			—			26,250			98,287		7,434		75,407		33,684		173,694		207,378		83,383	1972
	Charlottesville Fashion Square	Charlottesville, VA			—			—			54,738		—		17,948		—		72,686		72,686		32,683	1997 (4)
	Chautauqua Mall	Lakewood, NY			—			3,116			9,641		—		16,435		3,116		26,076		29,192		14,185	1971
	Chesapeake Square	Chesapeake (Virginia Beach), VA			65,242			11,534			70,461		—		19,489		11,534		89,950		101,484		53,113	1989
	Cielo Vista Mall	El Paso, TX			—			1,005			15,262		608		49,967		1,613		65,229		66,842		38,467	1974
	College Mall	Bloomington, IN			—			1,003			16,245		720		45,306		1,723		61,551		63,274		33,597	1965
	Columbia Center	Kennewick, WA			—			17,441			66,580		—		26,566		17,441		93,146		110,587		43,792	1987
	Copley Place	Boston, MA			—			—			378,045		—		108,659		—		486,704		486,704		167,391	2002 (4)
	Coral Square	Coral Springs (Miami), FL			—			13,556			93,630		—		21,501		13,556		115,131		128,687		68,808	1984
	Cordova Mall	Pensacola, FL			—			18,626			73,091		7,321		61,890		25,947		134,981		160,928		49,889	1998 (4)
	Cottonwood Mall	Albuquerque, NM			—			10,122			69,958		—		7,542		10,122		77,500		87,622		42,020	1996
	Domain, The	Austin, TX			201,511			40,436			197,010		—		139,129		40,436		336,139		376,575		81,659	2005
	Edison Mall	Fort Myers, FL			—			11,529			107,350		—		31,772		11,529		139,122		150,651		61,499	1997 (4)
	Empire Mall	Sioux Falls, SD			176,300			35,998			192,186		—		21,862		35,998		214,048		250,046		14,896	1998 (5)
	Fashion Mall at Keystone, The	Indianapolis, IN			—			—			120,579		27,027		85,988		27,027		206,567		233,594		79,633	1997 (4)
	Firewheel Town Center	Garland (Dallas), TX			—			8,485			82,716		—		28,862		8,485		111,578		120,063		38,740	2004
	Forest Mall	Fond Du Lac, WI			—			721			4,491		—		8,682		721		13,173		13,894		9,167	1973
	Forum Shops at Caesars, The	Las Vegas, NV			—			—			276,567		—		220,290		—		496,857		496,857		189,169	1992
	Great Lakes Mall	Mentor (Cleveland), OH			—			12,302			100,362		—		30,661		12,302		131,023		143,325		57,785	1961
	Greenwood Park Mall	Greenwood (Indianapolis), IN			76,677			2,423			23,445		5,253		116,978		7,676		140,423		148,099		65,212	1979
	Gulf View Square	Port Richey (Tampa), FL			—			13,690			39,991		1,688		19,547		15,378		59,538		74,916		30,930	1980
	Haywood Mall	Greenville, SC			—			11,585			133,893		6		22,440		11,591		156,333		167,924		83,551	1998 (4)
	Independence Center	Independence (Kansas City), MO			200,000			5,042			45,798		—		35,198		5,042		80,996		86,038		41,275	1994 (4)
	Ingram Park Mall	San Antonio, TX			139,954			733			17,163		37		24,168		770		41,331		42,101		26,649	1979
	Irving Mall	Irving (Dallas), TX			—			6,737			17,479		2,533		43,025		9,270		60,504		69,774		37,218	1971
	Jefferson Valley Mall	Yorktown Heights (New York), NY			—			4,868			30,304		—		27,767		4,868		58,071		62,939		36,880	1983
	King of Prussia Mall	King of Prussia (Philadelphia), PA			118,082			175,063			1,128,200		—		58,646		175,063		1,186,846		1,361,909		103,212	2003 (5)
	Knoxville Center	Knoxville, TN			—			5,006			21,617		3,712		32,451		8,718		54,068		62,786		34,704	1984
	La Plaza Mall	McAllen, TX			—			1,375			9,828		6,569		50,650		7,944		60,478		68,422		29,053	1976
	Lakeline Mall	Cedar Park (Austin), TX			—			10,088			81,568		14		16,689		10,102		98,257		108,359		48,432	1995
												Cost Capitalized				Gross Amounts At Which
							Initial Cost (3)					Subsequent to				Carried At Close of Period
												Acquisition (3)												Date of
																								Construction
																								or
	Name	Location		Encumbrances (6)			Land			Buildings and		Land		Buildings and		Land		Buildings and		Total (1)		Accumulated		Acquisition
										Improvements				Improvements				Improvements				Depreciation (2)
	Lenox Square	Atlanta, GA			—			38,058			492,411		—		95,038		38,058		587,449		625,507		240,388	1998 (4)
	Lima Mall	Lima, OH			—			7,659			35,338		—		13,812		7,659		49,150		56,809		25,767	1965
Lincolnwood Town Center	Lincolnwood (Chicago), IL			—			7,834			63,480		—		7,682		7,834		71,162		78,996		45,561	1990
Lindale Mall	Cedar Rapids, IA			—			14,106			58,286		—		6,063		14,106		64,349		78,455		6,228	1998 (5)
Livingston Mall	Livingston (New York), NJ			—			22,214			105,250		—		44,517		22,214		149,767		171,981		59,767	1998 (4)
Longview Mall	Longview, TX			—			259			3,567		124		9,252		383		12,819		13,202		7,472	1978
Mall at Chestnut Hill, The	Chestnut Hill (Boston), MA			120,000			449			25,102		43,257		96,161		43,706		121,263		164,969		7,429	2002 (5)
Mall of Georgia	Buford (Atlanta), GA			—			47,492			326,633		—		11,340		47,492		337,973		385,465		127,877	1999 (5)
Maplewood Mall	St. Paul (Minneapolis), MN			—			17,119			80,758		—		24,267		17,119		105,025		122,144		37,102	2002 (4)
Markland Mall	Kokomo, IN			—			—			7,568		—		17,008		—		24,576		24,576		13,219	1968
McCain Mall	N. Little Rock, AR			—			—			9,515		10,530		24,457		10,530		33,972		44,502		8,535	1973
Melbourne Square	Melbourne, FL			—			15,762			55,891		4,160		30,434		19,922		86,325		106,247		39,350	1982
Menlo Park Mall	Edison (New York), NJ			—			65,684			223,252		—		43,986		65,684		267,238		332,922		127,857	1997 (4)
Mesa Mall	Grand Junction, CO			87,250			12,784			80,639		—		1,427		12,784		82,066		94,850		8,639	1998 (5)
Midland Park Mall	Midland, TX			83,293			687			9,213		—		24,059		687		33,272		33,959		18,852	1980
Miller Hill Mall	Duluth, MN			—			2,965			18,092		1,811		39,338		4,776		57,430		62,206		34,847	1973
Montgomery Mall	North Wales (Philadelphia), PA			80,265			27,105			86,915		—		45,806		27,105		132,721		159,826		43,138	2004 (5)
Muncie Mall	Muncie, IN			—			172			5,776		52		28,234		224		34,010		34,234		20,382	1970
North East Mall	Hurst (Dallas), TX			—			128			12,966		19,010		151,137		19,138		164,103		183,241		87,794	1971
Northgate Mall	Seattle, WA			—			24,369			115,992		—		97,693		24,369		213,685		238,054		89,976	1987
Northlake Mall	Atlanta, GA			—			33,322			98,035		—		3,813		33,322		101,848		135,170		73,019	1998 (4)
Northwoods Mall	Peoria, IL			—			1,185			12,779		2,164		38,469		3,349		51,248		54,597		32,596	1983
Oak Court Mall	Memphis, TN			—			15,673			57,304		—		9,556		15,673		66,860		82,533		37,543	1997 (4)
Ocean County Mall	Toms River (New York), NJ			—			20,404			124,945		—		30,049		20,404		154,994		175,398		66,356	1998 (4)
Orange Park Mall	Orange Park (Jacksonville), FL			—			12,998			65,121		—		42,553		12,998		107,674		120,672		55,165	1994 (4)
Orland Square	Orland Park (Chicago), IL			—			35,514			129,906		—		48,985		35,514		178,891		214,405		77,349	1997 (4)
Oxford Valley Mall	Langhorne (Philadelphia), PA			67,722			24,544			100,287		—		16,005		24,544		116,292		140,836		66,273	2003 (4)
Paddock Mall	Ocala, FL			—			11,198			39,727		—		21,955		11,198		61,682		72,880		26,719	1980
Penn Square Mall	Oklahoma City, OK			95,256			2,043			155,958		—		45,697		2,043		201,655		203,698		89,107	2002 (4)
Pheasant Lane Mall	Nashua, NH			—			3,902			155,068		550		45,029		4,452		200,097		204,549		74,585	2004 (5)
Phipps Plaza	Atlanta, GA			—			16,725			210,610		2,225		37,141		18,950		247,751		266,701		106,806	1998 (4)
Plaza Carolina	Carolina (San Juan), PR			225,000			15,493			279,560		—		57,842		15,493		337,402		352,895		99,118	2004 (4)
Port Charlotte Town Center	Port Charlotte, FL			46,353			5,471			58,570		—		15,507		5,471		74,077		79,548		40,124	1989
Prien Lake Mall	Lake Charles, LA			—			1,842			2,813		3,053		49,249		4,895		52,062		56,957		24,425	1972
Richmond Town Square	Richmond Heights (Cleveland), OH			—			2,600			12,112		—		56,081		2,600		68,193		70,793		51,751	1966
River Oaks Center	Calumet City (Chicago), IL			—			30,560			101,224		—		11,295		30,560		112,519		143,079		53,968	1997 (4)
Rockaway Townsquare	Rockaway (New York), NJ			—			41,918			212,257		—		40,440		41,918		252,697		294,615		104,858	1998 (4)
Rolling Oaks Mall	San Antonio, TX			—			1,929			38,609		—		13,650		1,929		52,259		54,188		31,736	1988
Roosevelt Field	Garden City (New York), NY			—			163,160			702,008		48		69,475		163,208		771,483		934,691		323,660	1998 (4)
Ross Park Mall	Pittsburgh, PA			—			23,541			90,203		—		88,181		23,541		178,384		201,925		87,737	1986
Rushmore Mall	Rapid City, SD			94,000			18,839			67,364		—		1,183		18,839		68,547		87,386		8,579	1998 (5)
Santa Rosa Plaza	Santa Rosa, CA			—			10,400			87,864		—		24,458		10,400		112,322		122,722		45,859	1998 (4)
Shops at Nanuet, The	Nanuet, NY			—			28,125			143,120		—		—		28,125		143,120		171,245		1,574	2013 (7)
Shops at Riverside, The	Hackensack (New York), NJ			130,000			13,521			238,746		—		3,948		13,521		242,694		256,215		15,859	2007 (4) (5)
South Hills Village	Pittsburgh, PA			—			23,445			125,840		1,472		45,091		24,917		170,931		195,848		69,149	1997 (4)
South Shore Plaza	Braintree (Boston), MA			—			101,200			301,495		—		158,334		101,200		459,829		561,029		164,478	1998 (4)
											Cost Capitalized				Gross Amounts At Which
						Initial Cost (3)					Subsequent to				Carried At Close of Period
											Acquisition (3)												Date of
																							Construction
																							or
Name	Location		Encumbrances (6)			Land			Buildings and		Land		Buildings and		Land		Buildings and		Total (1)		Accumulated		Acquisition
									Improvements				Improvements				Improvements				Depreciation (2)
Southdale Center	Edina (Minneapolis), MN			155,000			40,172			184,967		—		34,325		40,172		219,292		259,464		14,058	2007 (4) (5)
Southern Hills Mall	Sioux City, IA			101,500			15,025			75,984		—		727		15,025		76,711		91,736		8,252	1998 (5)
Southern Park Mall	Youngstown, OH			—			16,982			77,767		97		27,091		17,079		104,858		121,937		52,442	1970
SouthPark	Charlotte, NC			189,775			42,092			188,055		100		175,992		42,192		364,047		406,239		145,085	2002 (4)
Southridge Mall	Greendale (Milwaukee), WI			125,000			12,359			130,111		2,389		17,916		14,748		148,027		162,775		11,556	2007 (4) (5)
St. Charles Towne Center	Waldorf (Washington, D.C.), MD			—			7,710			52,934		1,180		30,943		8,890		83,877		92,767		47,149	1990
Stanford Shopping Center	Palo Alto (San Jose), CA			—			—			339,537		—		46,751		—		386,288		386,288		110,118	2003 (4)
Summit Mall	Akron , OH			65,000			15,374			51,137		—		46,586		15,374		97,723		113,097		44,203	1965
Sunland Park Mall	El Paso, TX			28,359			2,896			28,900		—		9,695		2,896		38,595		41,491		25,827	1988
Tacoma Mall	Tacoma (Seattle), WA			—			37,803			125,826		—		87,609		37,803		213,435		251,238		91,275	1987
Tippecanoe Mall	Lafayette, IN			—			2,897			8,439		5,517		47,150		8,414		55,589		64,003		37,655	1973
Town Center at Aurora	Aurora (Denver), CO			—			9,959			56,832		6		55,963		9,965		112,795		122,760		57,703	1998 (4)
Town Center at Boca Raton	Boca Raton (Miami), FL			—			64,200			307,317		—		167,058		64,200		474,375		538,575		199,104	1998 (4)
Town Center at Cobb	Kennesaw (Atlanta), GA			200,000			32,355			158,225		—		17,130		32,355		175,355		207,710		78,826	1998 (5)
Towne East Square	Wichita, KS			—			8,525			18,479		4,108		44,380		12,633		62,859		75,492		38,939	1975
Towne West Square	Wichita, KS			49,360			972			21,203		61		12,647		1,033		33,850		34,883		22,502	1980
Treasure Coast Square	Jensen Beach, FL			—			11,124			72,990		3,067		38,066		14,191		111,056		125,247		54,717	1987
Tyrone Square	St. Petersburg (Tampa), FL			—			15,638			120,962		—		34,028		15,638		154,990		170,628		74,948	1972
University Park Mall	Mishawaka, IN			—			16,768			112,158		7,000		54,248		23,768		166,406		190,174		127,845	1996 (4)
Valle Vista Mall	Harlingen, TX			40,000			1,398			17,159		329		21,322		1,727		38,481		40,208		24,142	1983
Virginia Center Commons	Glen Allen, VA			—			9,764			50,547		4,149		14,013		13,913		64,560		78,473		29,650	1991
Walt Whitman Shops	Huntington Station (New York), NY			116,932			51,700			111,258		3,789		115,133		55,489		226,391		281,880		79,487	1998 (4)
West Ridge Mall	Topeka, KS			64,794			5,453			34,132		1,168		24,122		6,621		58,254		64,875		33,282	1988
Westminster Mall	Westminster (Los Angeles), CA			—			43,464			84,709		—		35,744		43,464		120,453		163,917		51,246	1998 (4)
White Oaks Mall	Springfield, IL			50,000			3,024			35,692		2,102		61,835		5,126		97,527		102,653		37,770	1977
Wolfchase Galleria	Memphis, TN			225,000			15,881			128,276		—		11,960		15,881		140,236		156,117		68,585	2002 (4)
Woodland Hills Mall	Tulsa, OK			92,908			34,211			187,123		—		23,147		34,211		210,270		244,481		91,613	2004 (5)
Premium Outlets
Albertville Premium Outlets	Albertville (Minneapolis), MN			—			3,900			97,059		—		5,758		3,900		102,817		106,717		35,694	2004 (4)
Allen Premium Outlets	Allen (Dallas), TX			—			13,855			43,687		97		14,000		13,952		57,687		71,639		22,663	2004 (4)
Aurora Farms Premium Outlets	Aurora (Cleveland), OH			—			2,370			24,326		—		4,179		2,370		28,505		30,875		17,634	2004 (4)
Birch Run Premium Outlets	Birch Run (Detroit), MI			104,240			11,560			77,856		—		3,120		11,560		80,976		92,536		14,041	2010 (4)
Calhoun Premium Outlets	Calhoun, GA			20,035			1,745			12,529		—		746		1,745		13,275		15,020		4,631	2010 (4)
Camarillo Premium Outlets	Camarillo (Los Angeles), CA			—			16,670			224,721		395		64,137		17,065		288,858		305,923		86,240	2004 (4)
Carlsbad Premium Outlets	Carlsbad (San Diego), CA			—			12,890			184,990		96		3,502		12,986		188,492		201,478		54,417	2004 (4)
Carolina Premium Outlets	Smithfield (Raleigh), NC			49,452			3,175			59,863		5,311		5,320		8,486		65,183		73,669		26,530	2004 (4)
Chicago Premium Outlets	Aurora (Chicago), IL			—			659			118,005		—		5,158		659		123,163		123,822		46,276	2004 (4)
Cincinnati Premium Outlets	Monroe (Cincinnati), OH			—			14,117			71,520		—		4,415		14,117		75,935		90,052		17,349	2008
Clinton Crossing Premium Outlets	Clinton, CT			—			2,060			107,556		1,532		2,543		3,592		110,099		113,691		37,823	2004 (4)
Columbia Gorge Premium Outlets	Troutdale (Portland), OR			—			7,900			16,492		—		2,652		7,900		19,144		27,044		9,407	2004 (4)
Desert Hills Premium Outlets	Cabazon (Palm Springs), CA			—			3,440			338,679		—		62,681		3,440		401,360		404,800		97,116	2004 (4)
Edinburgh Premium Outlets	Edinburgh (Indianapolis), IN			—			2,857			47,309		—		13,273		2,857		60,582		63,439		23,497	2004 (4)
Ellenton Premium Outlets	Ellenton (Tampa), FL			102,442			15,807			182,412		—		3,485		15,807		185,897		201,704		36,306	2010 (4)
Folsom Premium Outlets	Folsom (Sacramento), CA			—			9,060			50,281		—		4,188		9,060		54,469		63,529		23,134	2004 (4)
											Cost Capitalized				Gross Amounts At Which
						Initial Cost (3)					Subsequent to				Carried At Close of Period
											Acquisition (3)												Date of
																							Construction
																							or
Name	Location		Encumbrances (6)			Land			Buildings and		Land		Buildings and		Land		Buildings and		Total (1)		Accumulated		Acquisition
									Improvements				Improvements				Improvements				Depreciation (2)
Gaffney Premium Outlets	Gaffney (Greenville/Charlotte), SC			36,360			4,056			32,371		—		2,105		4,056		34,476		38,532		7,154	2010 (4)
Gilroy Premium Outlets	Gilroy (San Jose), CA			—			9,630			194,122		—		9,347		9,630		203,469		213,099		67,532	2004 (4)
Grand Prairie Premium Outlets	Grand Prairie (Dallas), TX			120,000			9,497			198,253		—		—		9,497		198,253		207,750		8,100	2012
Grove City Premium Outlets	Grove City (Pittsburgh), PA			110,590			6,421			121,880		—		2,157		6,421		124,037		130,458		25,495	2010 (4)
Gulfport Premium Outlets	Gulfport, MS			24,674			—			27,949		—		1,598		—		29,547		29,547		6,388	2010 (4)
Hagerstown Premium Outlets	Hagerstown (Baltimore/Washington DC), MD			87,586			3,576			85,883		—		1,826		3,576		87,709		91,285		15,427	2010 (4)
Houston Premium Outlets	Cypress (Houston), TX			—			9,090			69,350		—		46,834		9,090		116,184		125,274		26,571	2007
Jackson Premium Outlets	Jackson (New York), NJ			—			6,413			104,013		3		4,878		6,416		108,891		115,307		31,859	2004 (4)
Jersey Shore Premium Outlets	Tinton Falls (New York), NJ			68,630			15,390			50,979		—		75,219		15,390		126,198		141,588		30,828	2007
Johnson Creek Premium Outlets	Johnson Creek, WI			—			2,800			39,546		—		6,778		2,800		46,324		49,124		15,467	2004 (4)
Kittery Premium Outlets	Kittery , ME			—			11,832			94,994		—		7,008		11,832		102,002		113,834		27,960	2004 (4)
Las Americas Premium Outlets	San Diego, CA			178,806			45,168			251,878		—		5,948		45,168		257,826		302,994		48,063	2007 (4)
Las Vegas Premium Outlets — North	Las Vegas, NV			—			25,435			134,973		16,536		88,100		41,971		223,073		265,044		66,499	2004 (4)
Las Vegas Premium Outlets — South	Las Vegas, NV			—			13,085			160,777		—		22,769		13,085		183,546		196,631		46,983	2004 (4)
Lebanon Premium Outlets	Lebanon (Nashville), TN			15,170			1,758			10,189		—		1,019		1,758		11,208		12,966		2,771	2010 (4)
Lee Premium Outlets	Lee, MA			50,014			9,167			52,212		—		1,075		9,167		53,287		62,454		11,176	2010 (4)
Leesburg Corner Premium Outlets	Leesburg (Washington D.C.), VA			—			7,190			162,023		—		3,871		7,190		165,894		173,084		58,996	2004 (4)
Liberty Village Premium Outlets	Flemington (New York), NJ			—			5,670			28,904		—		1,550		5,670		30,454		36,124		14,553	2004 (4)
Lighthouse Place Premium Outlets	Michigan City (Chicago, IL), IN			—			6,630			94,138		—		8,465		6,630		102,603		109,233		40,050	2004 (4)
Livermore Premium Outlets	Livermore (San Francisco), CA			—			21,925			308,694		—		—		21,925		308,694		330,619		11,557	2012
Merrimack Premium Outlets	Merrimack, NH			130,000			17,028			118,428		—		602		17,028		119,030		136,058		8,517	2012
Napa Premium Outlets	Napa, CA			—			11,400			45,023		—		3,375		11,400		48,398		59,798		17,537	2004 (4)
North Bend Premium Outlets	North Bend (Seattle), WA			—			2,143			36,197		—		3,496		2,143		39,693		41,836		11,480	2004 (4)
North Georgia Premium Outlets	Dawsonville (Atlanta), GA			—			4,300			132,325		—		3,183		4,300		135,508		139,808		45,209	2004 (4)
Orlando Premium Outlets — International Dr	Orlando, FL			—			32,727			472,815		—		2,156		32,727		474,971		507,698		63,945	2010 (4)
Orlando Premium Outlets — Vineland Ave	Orlando, FL			—			14,040			304,410		38,632		76,159		52,672		380,569		433,241		97,093	2004 (4)
Osage Beach Premium Outlets	Osage Beach, MO			—			9,460			85,804		—		5,828		9,460		91,632		101,092		33,158	2004 (4)
Petaluma Village Premium Outlets	Petaluma (San Francisco), CA			—			13,322			13,710		—		1,336		13,322		15,046		28,368		8,721	2004 (4)
Philadelphia Premium Outlets	Limerick (Philadelphia), PA			—			16,676			105,249		—		15,974		16,676		121,223		137,899		37,332	2006
Phoenix Premium Outlets	Chandler (Phoenix), AZ			—			—			63,751		—		—		—		63,751		63,751		1,938	2013
Pismo Beach Premium Outlets	Pismo Beach, CA			33,850			4,317			19,044		—		1,266		4,317		20,310		24,627		5,156	2010 (4)
Pleasant Prairie Premium Outlets	Pleasant Prairie (Chicago, IL/Milwaukee), WI			94,730			16,823			126,686		—		2,902		16,823		129,588		146,411		20,008	2010 (4)
Puerto Rico Premium Outlets	Barceloneta, PR			125,000			20,586			114,021		—		1,795		20,586		115,816		136,402		18,454	2010 (4)
Queenstown Premium Outlets	Queenstown (Baltimore), MD			66,150			8,129			61,950		—		2,727		8,129		64,677		72,806		10,908	2010 (4)
Rio Grande Valley Premium Outlets	Mercedes (McAllen), TX			—			12,229			41,547		—		33,564		12,229		75,111		87,340		26,739	2005
Round Rock Premium Outlets	Round Rock (Austin), TX			—			14,706			82,252		—		1,430		14,706		83,682		98,388		31,830	2005
San Marcos Premium Outlets	San Marcos (Austin/San Antonio), TX			140,276			13,180			287,179		—		5,195		13,180		292,374		305,554		39,066	2010 (4)
Seattle Premium Outlets	Tulalip (Seattle), WA			—			—			103,722		—		52,801		—		156,523		156,523		41,415	2004 (4)
St. Augustine Premium Outlets	St. Augustine (Jacksonville), FL			—			6,090			57,670		2		8,694		6,092		66,364		72,456		25,565	2004 (4)
The Crossings Premium Outlets	Tannersville , PA			115,000			7,720			172,931		—		11,172		7,720		184,103		191,823		54,325	2004 (4)
											Cost Capitalized				Gross Amounts At Which
						Initial Cost (3)					Subsequent to				Carried At Close of Period
											Acquisition (3)												Date of
																							Construction
																							or
Name	Location		Encumbrances (6)			Land			Buildings and		Land		Buildings and		Land		Buildings and		Total (1)		Accumulated		Acquisition
									Improvements				Improvements				Improvements				Depreciation (2)
Vacaville Premium Outlets	Vacaville , CA			—			9,420			84,850		—		10,269		9,420		95,119		104,539		37,972	2004 (4)
Waikele Premium Outlets	Waipahu (Honolulu), HI			—			22,630			77,316		—		2,850		22,630		80,166		102,796		28,323	2004 (4)
Waterloo Premium Outlets	Waterloo , NY			—			3,230			75,277		—		8,362		3,230		83,639		86,869		32,115	2004 (4)
Williamsburg Premium Outlets	Williamsburg, VA			101,186			10,323			223,789		—		2,591		10,323		226,380		236,703		30,766	2010 (4)
Woodburn Premium Outlets	Woodburn (Portland), OR			—			9,414			150,414		—		125		9,414		150,539		159,953		4,011	2013 (4)
Woodbury Common Premium Outlets	Central Valley (New York), NY			—			11,110			862,559		1,658		43,690		12,768		906,249		919,017		252,964	2004 (4)
Wrentham Village Premium Outlets	Wrentham (Boston), MA			—			4,900			282,031		—		8,015		4,900		290,046		294,946		90,807	2004 (4)
The Mills
Great Mall	Milpitas (San Jose), CA			269,306			70,496			463,101		—		6,311		70,496		469,412		539,908		30,378	2007 (4)(5)
Gurnee Mills	Gurnee (Chicago), IL			321,000			41,133			297,911		—		3,715		41,133		301,626		342,759		20,273	2007 (4)(5)
Opry Mills	Nashville, TN			382,347			51,000			327,503		—		9,742		51,000		337,245		388,245		21,815	2007 (4)(5)
Potomac Mills	Woodbridge (Washington, D.C.), VA			410,000			61,771			425,370		—		25,031		61,771		450,401		512,172		29,865	2007 (4)(5)
Sawgrass Mills	Sunrise (Miami), FL			820,000			194,002			1,641,153		—		28,981		194,002		1,670,134		1,864,136		103,801	2007 (4)(5)
Community/Lifestyle Centers
ABQ Uptown	Albuquerque, NM			—			6,374			75,333		4,054		4,003		10,428		79,336		89,764		7,640	2011 (4)
Arboretum	Austin, TX			—			7,640			36,774		71		12,240		7,711		49,014		56,725		21,046	1998 (4)
Bloomingdale Court	Bloomingdale (Chicago), IL			25,164			8,422			26,184		—		13,429		8,422		39,613		48,035		22,263	1987
Charles Towne Square	Charleston, SC			—			—			1,768		370		10,636		370		12,404		12,774		9,705	1976
Chesapeake Center	Chesapeake (Virginia Beach), VA			—			4,410			11,241		—		177		4,410		11,418		15,828		7,622	1989
Concord Mills Marketplace	Concord (Charlotte), NC			16,000			8,036			21,167		—		—		8,036		21,167		29,203		1,519	2007 (4)(5)
Countryside Plaza	Countryside (Chicago), IL			—			332			8,507		2,554		10,183		2,886		18,690		21,576		10,215	1977
Dare Centre	Kill Devil Hills, NC			—			—			5,702		—		649		—		6,351		6,351		2,157	2004 (4)
DeKalb Plaza	King of Prussia (Philadelphia), PA			2,377			1,955			3,405		—		1,348		1,955		4,753		6,708		2,722	2003 (4)
Empire East	Sioux Falls, SD			—			3,350			10,552		—		2,368		3,350		12,920		16,270		976	1998 (5)
Forest Plaza	Rockford, IL			17,733			4,132			16,818		453		13,143		4,585		29,961		34,546		14,616	1985
Gateway Centers	Austin, TX			—			24,549			81,437		—		13,282		24,549		94,719		119,268		33,797	2004 (4)
Greenwood Plus	Greenwood (Indianapolis), IN			—			1,129			1,792		—		4,655		1,129		6,447		7,576		3,725	1979
Henderson Square	King of Prussia (Philadelphia), PA			13,301			4,223			15,124		—		838		4,223		15,962		20,185		4,883	2003 (4)
Highland Lakes Center	Orlando, FL			—			7,138			25,284		—		2,102		7,138		27,386		34,524		22,367	1991
Keystone Shoppes	Indianapolis, IN			—			—			4,232		4,236		2,797		4,236		7,029		11,265		2,500	1997 (4)
Lake Plaza	Waukegan (Chicago), IL			—			2,487			6,420		—		1,370		2,487		7,790		10,277		4,533	1986
Lake View Plaza	Orland Park (Chicago), IL			15,470			4,702			17,543		—		13,726		4,702		31,269		35,971		17,600	1986
Lakeline Plaza	Cedar Park (Austin), TX			16,613			5,822			30,875		—		9,308		5,822		40,183		46,005		18,728	1998
Lima Center	Lima, OH			—			1,781			5,151		—		8,959		1,781		14,110		15,891		6,943	1978
Lincoln Crossing	O'Fallon (St. Louis), IL			—			674			2,192		—		893		674		3,085		3,759		1,653	1990
Lincoln Plaza	King of Prussia (Philadelphia), PA			—			—			21,299		—		3,496		—		24,795		24,795		13,155	2003 (4)
MacGregor Village	Cary, NC			—			502			8,897		—		400		502		9,297		9,799		2,556	2004 (4)
Mall of Georgia Crossing	Buford (Atlanta), GA			24,527			9,506			32,892		—		1,553		9,506		34,445		43,951		16,120	2004 (5)
Markland Plaza	Kokomo, IN			—			206			738		—		6,328		206		7,066		7,272		3,907	1974
Martinsville Plaza	Martinsville, VA			—			—			584		—		461		—		1,045		1,045		846	1967
Matteson Plaza	Matteson (Chicago), IL			—			1,771			9,737		—		3,604		1,771		13,341		15,112		8,081	1988
											Cost Capitalized				Gross Amounts At Which
						Initial Cost (3)					Subsequent to				Carried At Close of Period
											Acquisition (3)												Date of
																							Construction
																							or
Name	Location		Encumbrances (6)			Land			Buildings and		Land		Buildings and		Land		Buildings and		Total (1)		Accumulated		Acquisition
									Improvements				Improvements				Improvements				Depreciation (2)
Muncie Towne Plaza	Muncie, IN			6,907			267			10,509		87		2,777		354		13,286		13,640		6,147	1998
Naples Outlet Center	Naples, FL			15,718			1,514			519		—		44		1,514		563		2,077		409	2010 (4)
New Castle Plaza	New Castle, IN			—			128			1,621		—		1,608		128		3,229		3,357		1,876	1966
North Ridge Shopping Center	Raleigh, NC			12,500			385			12,838		—		1,512		385		14,350		14,735		3,956	2004 (4)
Northwood Plaza	Fort Wayne, IN			—			148			1,414		—		2,151		148		3,565		3,713		2,336	1974
Palms Crossing	McAllen, TX			37,179			13,496			45,925		—		9,232		13,496		55,157		68,653		15,868	2006
Richardson Square	Richardson (Dallas), TX			—			6,285			—		990		15,021		7,275		15,021		22,296		3,167	1977
Rockaway Commons	Rockaway (New York), NJ			—			5,149			26,435		—		8,443		5,149		34,878		40,027		12,129	1998 (4)
Rockaway Town Plaza	Rockaway (New York), NJ			—			—			18,698		2,225		3,225		2,225		21,923		24,148		6,157	2004
Shops at Arbor Walk, The	Austin, TX			42,020			—			42,546		—		6,124		—		48,670		48,670		12,828	2005
Shops at North East Mall, The	Hurst (Dallas), TX			—			12,541			28,177		402		5,835		12,943		34,012		46,955		18,837	1999
St. Charles Towne Plaza	Waldorf (Washington, D.C.), MD			—			8,216			18,993		—		4,477		8,216		23,470		31,686		13,191	1987
Tippecanoe Plaza	Lafayette, IN			—			—			745		234		5,298		234		6,043		6,277		3,784	1974
University Center	Mishawaka, IN			—			3,071			7,413		—		3,103		3,071		10,516		13,587		9,047	1980
University Town Plaza	Pensacola, FL			—			6,009			26,945		—		—		6,009		26,945		32,954		811	2013 (7)
Washington Plaza	Indianapolis, IN			—			941			1,697		—		1,221		941		2,918		3,859		2,708	1976
Waterford Lakes Town Center	Orlando, FL			—			8,679			72,836		—		17,229		8,679		90,065		98,744		46,600	1999
West Ridge Plaza	Topeka, KS			—			1,376			4,560		—		3,841		1,376		8,401		9,777		3,758	1988
White Oaks Plaza	Springfield, IL			13,813			3,169			14,267		—		6,546		3,169		20,813		23,982		9,581	1986
Wolf Ranch	Georgetown (Austin), TX			—			21,999			51,547		—		11,897		21,999		63,444		85,443		19,338	2004
Other Properties
Florida Keys Outlet Center	Florida City, FL			10,454			1,560			1,748		—		1,457		1,560		3,205		4,765		1,065	2010 (4)
Huntley Outlet Center	Huntley, IL			29,243			3,477			2,027		—		335		3,477		2,362		5,839		706	2010 (4)
Northfield Square	Bourbonnais , IL			24,970			362			53,396		—		3,520		362		56,916		57,278		39,539	2004 (5)
Outlet Marketplace	Orlando , FL			—			3,367			1,557		—		218		3,367		1,775		5,142		783	2010 (4)
Upper Valley Mall	Springfield, OH			42,447			8,421			38,745		—		10,590		8,421		49,335		57,756		25,515	1979
Washington Square	Indianapolis, IN			24,676			6,319			36,495		—		11,713		6,319		48,208		54,527		46,965	1974
Development Projects
Other pre-development costs				—			78,483			19,142		—		—		78,483		19,142		97,625		3,284
Other				—			2,614			8,007		—		201		2,614		8,208		10,822		3,226
			$	8,180,559			3,440,260		$	24,945,911	$	306,819	$	6,080,170	$	3,747,079	$	31,026,081	$	34,773,160	$	9,817,090
Simon Property Group, Inc. and Subsidiaries
Notes to Schedule III as of December 31, 2013
(Dollars in thousands)
-1
Reconciliation of Real Estate Properties:
The changes in real estate assets for the years ended December 31, 2013, 2012, and 2011 are as follows:
	2013			2012			2011
Balance, beginning of year	$	33,924,377		$	29,333,330		$	27,192,223
Acquisitions and consolidations (5)		288,835			4,438,848			2,068,452
Improvements		958,971			833,083			552,455
Disposals and deconsolidations		(399,023	)		(680,884	)		(479,800	)
Balance, close of year	$	34,773,160		$	33,924,377		$	29,333,330
The unaudited aggregate cost of real estate assets for federal income tax purposes as of December 31, 2013 was $29,419,072.
-2
Reconciliation of Accumulated Depreciation:
The changes in accumulated depreciation for the years ended December 31, 2013, 2012, and 2011 are as follows:
	2013			2012			2011
Balance, beginning of year	$	8,836,695		$	8,148,170		$	7,485,821
Depreciation expense		1,108,602			1,069,607			906,554
Disposals and deconsolidations		(128,207	)		(381,082	)		(244,205	)
Balance, close of year	$	9,817,090		$	8,836,695		$	8,148,170
Depreciation of our investment in buildings and improvements reflected in the consolidated statements of operations and comprehensive income is calculated over the estimated original lives of the assets as noted below.
•
Buildings and Improvements — typically 10-35 years for the structure, 15 years for landscaping and parking lot, and 10 years for HVAC equipment.
•
Tenant Allowances and Improvements — shorter of lease term or useful life.
-3
Initial cost generally represents net book value at December 20, 1993, except for acquired properties and new developments after December 20, 1993. Initial cost also includes any new developments that are opened during the current year. Costs of disposals and impairments of property are first reflected as a reduction to cost capitalized subsequent to acquisition.
-4
Not developed/constructed by us or our predecessors. The date of construction represents the initial acquisition date for assets in which we have acquired multiple interests.
-5
Initial cost for these properties is the cost at the date of consolidation for properties previously accounted for under the equity method of accounting.
-6
Encumbrances represent face amount of mortgage debt and exclude any premiums or discounts.
-7
Property redeveloped and re-opened as of date shown.

Summary_of_Significant_Account1

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2013
Summary of Significant Accounting Policies	'
Investment Properties	'
	Investment Properties
	We record investment properties at cost. Investment properties include costs of acquisitions; development, predevelopment, and construction (including allocable salaries and related benefits); tenant allowances and improvements; and interest and real estate taxes incurred during construction. We capitalize improvements and replacements from repair and maintenance when the repair and maintenance extends the useful life, increases capacity, or improves the efficiency of the asset. All other repair and maintenance items are expensed as incurred. We capitalize interest on projects during periods of construction until the projects are ready for their intended purpose based on interest rates in place during the construction period. The amount of interest capitalized during each year is as follows:
		For the Year Ended
		December 31,
		2013			2012			2011
	Capitalized interest	$	16,604		$	21,145		$	5,815
	We record depreciation on buildings and improvements utilizing the straight-line method over an estimated original useful life, which is generally 10 to 35 years. We review depreciable lives of investment properties periodically and we make adjustments when necessary to reflect a shorter economic life. We amortize tenant allowances and tenant improvements utilizing the straight-line method over the term of the related lease or occupancy term of the tenant, if shorter. We record depreciation on equipment and fixtures utilizing the straight-line method over seven to ten years.
	We review investment properties for impairment on a property-by-property basis whenever events or changes in circumstances indicate that the carrying value of investment properties may not be recoverable. These circumstances include, but are not limited to, declines in a property's cash flows, ending occupancy or total sales per square foot. We measure any impairment of investment property when the estimated undiscounted operating income before depreciation and amortization plus its residual value is less than the carrying value of the property. To the extent impairment has occurred, we charge to income the excess of carrying value of the property over its estimated fair value. We estimate fair value using unobservable data such as operating income, estimated capitalization rates, or multiples, leasing prospects and local market information. We may decide to sell properties that are held for use and the sale prices of these properties may differ from their carrying values. We also review our investments, including investments in unconsolidated entities, if events or circumstances change indicating that the carrying amount of our investments may not be recoverable. We will record an impairment charge if we determine that a decline in the fair value of the investments is other-than-temporary. Changes in economic and operating conditions that occur subsequent to our review of recoverability of investment property and other investments could impact the assumptions used in that assessment and could result in future charges to earnings if assumptions regarding those investments differ from actual results.
Purchase Accounting Allocation	'
	Purchase Accounting Allocation
	We allocate the purchase price of acquisitions and any excess investment in unconsolidated entities to the various components of the acquisition based upon the fair value of each component which may be derived from various observable or unobservable inputs and assumptions. Also, we may utilize third party valuation specialists. These components typically include buildings, land and intangibles related to in-place leases and we estimate:
	•
	the fair value of land and related improvements and buildings on an as-if-vacant basis,
	•
	the market value of in-place leases based upon our best estimate of current market rents and amortize the resulting market rent adjustment into revenues,
	•
	the value of costs to obtain tenants, including tenant allowances and improvements and leasing commissions, and
	•
	the value of revenue and recovery of costs foregone during a reasonable lease-up period, as if the space was vacant.
	Amounts allocated to building are depreciated over the estimated remaining life of the acquired building or related improvements. We amortize amounts allocated to tenant improvements, in-place lease assets and other lease-related intangibles over the remaining life of the underlying leases. We also estimate the value of other acquired intangible assets, if any, which are amortized over the remaining life of the underlying related intangibles.
Discontinued Operations	'
	Discontinued Operations
	We reclassify any material operations and gains or losses on disposal related to consolidated properties disposed of during the period to discontinued operations. During 2013, we reported a net gain of approximately $64.8 million, or $0.18 per diluted share, on our consolidated property disposition activity. During 2012, we reported a net gain of approximately $21.1 million, or $.06 per diluted share, on our consolidated property disposition activity. During 2011, we reported a net loss of approximately $42.4 million, or $0.12 per diluted share, on our consolidated property disposition activity. These gains and losses are reported in gain upon acquisition of controlling interests, sale or disposal of assets and interests in unconsolidated entities, and impairment charge on investment in unconsolidated entities, net in the consolidated statements of operations and comprehensive income. The aggregate of the gains and losses on the disposition of these assets and the operating results were not significant to our consolidated results of operations during each of the three years ended December 31, 2013.
Cash and Cash Equivalents	'
	Cash and Cash Equivalents
	We consider all highly liquid investments purchased with an original maturity of 90 days or less to be cash and cash equivalents. Cash equivalents are carried at cost, which approximates fair value. Cash equivalents generally consist of commercial paper, bankers acceptances, Eurodollars, repurchase agreements, and money market deposits or securities. Financial instruments that potentially subject us to concentrations of credit risk include our cash and cash equivalents and our trade accounts receivable. We place our cash and cash equivalents with institutions with high credit quality. However, at certain times, such cash and cash equivalents may be in excess of FDIC and SIPC insurance limits. See Notes 4 and 10 for disclosures about non-cash investing and financing transactions.
Marketable and Non-Marketable Securities	'
	Marketable and Non-Marketable Securities
	Marketable securities consist primarily of the investments of our captive insurance subsidiaries, available-for-sale securities, our deferred compensation plan investments, and certain investments held to fund the debt service requirements of debt previously secured by investment properties.
	The types of securities included in the investment portfolio of our captive insurance subsidiaries typically include U.S. Treasury or other U.S. government securities as well as corporate debt securities with maturities ranging from less than 1 to 10 years. These securities are classified as available-for-sale and are valued based upon quoted market prices or other observable inputs when quoted market prices are not available. The amortized cost of debt securities, which approximates fair value, held by our captive insurance subsidiaries is adjusted for amortization of premiums and accretion of discounts to maturity. Changes in the values of these securities are recognized in accumulated other comprehensive income (loss) until the gain or loss is realized or until any unrealized loss is deemed to be other-than-temporary. We review any declines in value of these securities for other-than-temporary impairment and consider the severity and duration of any decline in value. To the extent an other-than-temporary impairment is deemed to have occurred, an impairment charge is recorded and a new cost basis is established. Subsequent changes are then recognized through other comprehensive income (loss) unless another other-than-temporary impairment is deemed to have occurred. Net unrealized gains recorded in other comprehensive income (loss) as of December 31, 2013 and 2012 were approximately $1.1 million and $2.6 million, respectively, and represent the valuation and related currency adjustments for our marketable securities.
	On October 23, 2012 we completed the sale of all of our investments in Capital Shopping Centres Group PLC, or CSCG, and Capital & Counties Properties PLC, or CAPC. These investments were accounted for as available-for-sale securities and their value was adjusted to their quoted market price, including a related foreign exchange component, through other comprehensive income (loss). At the date of sale, we owned 35.4 million shares of CSCG and 38.9 million shares of CAPC. The aggregate proceeds received from the sale were $327.1 million, and we recognized a gain on the sale of $82.7 million, which is included in marketable and non-marketable securities charges and realized gains, net in the accompanying consolidated statements of operations and comprehensive income. The gain includes $79.4 million that was reclassified from accumulated other comprehensive income (loss).
	Our insurance subsidiaries are required to maintain statutory minimum capital and surplus as well as maintain a minimum liquidity ratio. Therefore, our access to these securities may be limited. Our deferred compensation plan investments are classified as trading securities and are valued based upon quoted market prices. The investments have a matching liability as the amounts are fully payable to the employees that earned the compensation. Changes in value of these securities and changes to the matching liability to employees are both recognized in earnings and, as a result, there is no impact to consolidated net income.
	At December 31, 2012, we also had investments of $24.9 million which were used to fund the debt service requirements of mortgage debt previously secured by investment property. These investments were classified as held-to-maturity and were recorded at amortized cost. We had no such investments at December 31, 2013 because the debt matured during 2013 and the investments funded the payoff.
	At December 31, 2013 and 2012, we had investments of $118.8 million and $98.9 million, respectively, in non-marketable securities that we account for under the cost method. We regularly evaluate these investments for any other-than-temporary impairment in their estimated fair value to determine whether an adjustment to the carrying value is required. During the fourth quarter of 2012, as a result of the significance and duration of the impairment, represented by the excess of the carrying value over the estimated fair value of certain cost method investments, we recognized other-than-temporary non-cash charges of $71.0 million, which is included in marketable and non-marketable securities charges and realized gains, net in the accompanying consolidated statements of operations and comprehensive income. The fair value of the remaining investment for the securities that were impaired is not material and was based on Level 2 fair value inputs.
Fair Value Measurements	'
	Fair Value Measurements
	Level 1 fair value inputs are quoted prices for identical items in active, liquid and visible markets such as stock exchanges. Level 2 fair value inputs are observable information for similar items in active or inactive markets, and appropriately consider counterparty creditworthiness in the valuations. Level 3 fair value inputs reflect our best estimate of inputs and assumptions market participants would use in pricing an asset or liability at the measurement date. The inputs are unobservable in the market and significant to the valuation estimate. We have no investments for which fair value is measured on a recurring basis using Level 3 inputs.
	We hold marketable securities that totaled $148.3 million and $170.2 million at December 31, 2013 and 2012, respectively, that were primarily classified as having Level 1 fair value inputs. In addition, we have derivative instruments which are classified as having Level 2 inputs which consist primarily of interest rate swap agreements and foreign currency forward contracts with a gross liability balance of $1.2 million and $1.5 million at December 31, 2013 and 2012, respectively, and a gross asset value of $8.4 million and $3.0 million at December 31, 2013 and 2012, respectively. We also have interest rate cap agreements with nominal values.
	Note 8 includes a discussion of the fair value of debt measured using Level 2 inputs. Notes 3 and 4 include a discussion of the fair values recorded in purchase accounting and impairment, using Level 2 and Level 3 inputs. Level 3 inputs to our purchase accounting and impairment include our estimations of net operating results of the property, capitalization rates and discount rates.
Use of Estimates	'
	Use of Estimates
	We prepared the accompanying consolidated financial statements in accordance with accounting principles generally accepted in the United States, or GAAP. GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and revenues and expenses during the reported period. Our actual results could differ from these estimates.
Segment Disclosure	'
	Segment Disclosure
	Our primary business is the ownership, development, and management of retail real estate. We have aggregated our retail operations, including malls, Premium Outlets, The Mills, community/lifestyle centers, and our international investments into one reportable segment because they have similar economic characteristics and we provide similar products and services to similar types of, and in many cases, the same tenants.
Deferred Costs and Other Assets	'
	Deferred Costs and Other Assets
	Deferred costs and other assets include the following as of December 31:
		2013			2012
	Deferred financing and lease costs, net	$	344,970		$	334,337
	In-place lease intangibles, net		290,564			358,141
	Acquired above market lease intangibles, net		98,723			128,893
	Marketable securities of our captive insurance companies		94,720			119,424
	Goodwill		20,098			20,098
	Other marketable and non-marketable securities		173,887			150,264
	Prepaids, notes receivable and other assets, net		496,852			459,577
		$	1,519,814		$	1,570,734
Deferred Financing and Lease Costs	'
	Deferred Financing and Lease Costs
	Our deferred costs consist primarily of financing fees we incurred in order to obtain long-term financing and internal and external leasing commissions and related costs. We record amortization of deferred financing costs on a straight-line basis over the terms of the respective loans or agreements. Our deferred leasing costs consist primarily of capitalized salaries and related benefits in connection with lease originations. We record amortization of deferred leasing costs on a straight-line basis over the terms of the related leases. Details of these deferred costs as of December 31 are as follows:
		2013			2012
	Deferred financing and lease costs	$	619,366		$	576,821
	Accumulated amortization		(274,396	)		(242,484	)
	Deferred financing and lease costs, net	$	344,970		$	334,337
	We report amortization of deferred financing costs, amortization of premiums, and accretion of discounts as part of interest expense. Amortization of deferred leasing costs is a component of depreciation and amortization expense. We amortize debt premiums and discounts, which are included in mortgages and unsecured indebtedness, over the remaining terms of the related debt instruments. These debt premiums or discounts arise either at the debt issuance or as part of the purchase price allocation of the fair value of debt assumed in acquisitions. The accompanying consolidated statements of operations and comprehensive income include amortization as follows:
		For the Year Ended December 31,
		2013			2012			2011
	Amortization of deferred financing costs	$	25,982		$	27,163		$	28,697
	Amortization of debt premiums, net of discounts		(33,535	)		(33,504	)		(8,439	)
	Amortization of deferred leasing costs		45,760			43,176			43,110
Loans Held for Investment	'
	Loans Held for Investment
	From time to time, we may make investments in mortgage loans or mezzanine loans of third parties that own and operate commercial real estate assets located in the United States. Mortgage loans are secured, in part, by mortgages recorded against the underlying properties which are not owned by us. Mezzanine loans are secured, in part, by pledges of ownership interests of the entities that own the underlying real estate. Loans held for investment are carried at cost, net of any premiums or discounts which are accreted or amortized over the life of the related loan receivable utilizing the effective interest method. We evaluate the collectability of both interest and principal of each of these loans quarterly to determine whether the value has been impaired. A loan is deemed to be impaired when, based on current information and events, it is probable that we will be unable to collect all amounts due according to the existing contractual terms. When a loan is impaired, the amount of the loss accrual is calculated by comparing the carrying amount of the loan held for investment to its estimated realizable value.
	We had investments in mortgage and mezzanine loans which were repaid during 2011 and 2012. We recorded $6.8 million and $24.3 million during 2012 and 2011, respectively, in interest income earned from these loans.
Intangibles	'
	Intangibles
	The average life of in-place lease intangibles is approximately 3.8 years, is amortized over the remaining life of the leases of the related property on the straight-line basis and is included with depreciation and amortization in the consolidated statements of operations and comprehensive income. The fair market value of above and below market leases is amortized into revenue over the remaining lease life as a component of reported minimum rents. The weighted average remaining life of these intangibles is approximately 5.0 years. The unamortized amount of below market leases is included in accounts payable, accrued expenses, intangibles and deferred revenues in the consolidated balance sheets and was $145.5 million and $199.2 million as of December 31, 2013 and 2012, respectively. The amount of amortization of above and below market leases, net for the years ended December 31, 2013, 2012, and 2011 was $24.1 million, $16.5 million, and $17.6 million, respectively. If a lease is terminated prior to the original lease termination, any remaining unamortized intangible is written off to earnings.
	Details of intangible assets as of December 31 are as follows:
		2013			2012
	In-place lease intangibles	$	481,661		$	480,517
	Accumulated depreciation		(191,097	)		(122,376	)
	In-place lease intangibles, net	$	290,564		$	358,141
	Acquired above market lease intangibles	$	249,115		$	248,357
	Accumulated amortization		(150,392	)		(119,464	)
	Acquired above market lease intangibles, net	$	98,723		$	128,893
	Estimated future amortization and the increasing (decreasing) effect on minimum rents for our above and below market leases as of December 31, 2013 are as follows:
		Below			Above			Impact
		Market			Market			to
		Leases			Leases			Minimum
								Rent,
								Net
	2014	$	35,128		$	(22,020	)	$	13,108
	2015		30,552			(19,441	)		11,111
	2016		25,499			(17,468	)		8,031
	2017		17,995			(13,889	)		4,106
	2018		13,931			(11,062	)		2,869
	Thereafter		22,413			(14,843	)		7,570
		$	145,518		$	(98,723	)	$	46,795
Derivative Financial Instruments	'
	Derivative Financial Instruments
	We record all derivatives on the balance sheet at fair value. The accounting for changes in the fair value of derivatives depends on the intended use of the derivative, whether we have designated a derivative as a hedge and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting. We use a variety of derivative financial instruments in the normal course of business to selectively manage or hedge a portion of the risks associated with our indebtedness and interest payments. Our objectives in using interest rate derivatives are to add stability to interest expense and to manage our exposure to interest rate movements. To accomplish this objective, we primarily use interest rate swaps and caps. We require that hedging derivative instruments be highly effective in reducing the risk exposure that they are designated to hedge. As a result, there is no significant ineffectiveness from any of our derivative activities. We formally designate any instrument that meets these hedging criteria as a hedge at the inception of the derivative contract. We have no credit-risk-related hedging or derivative activities.
	As of December 31, 2013, we had the following outstanding interest rate derivatives related to managing our interest rate risk:
	Interest Rate Derivative	Number of		Notional Amount
		Instruments
	Interest Rate Swaps	2		$491.6 million
	Interest Rate Caps	5		$248.3 million
	The carrying value of our interest rate swap agreements, at fair value, as of December 31, 2013, is a net asset balance of $3.0 million, of which $0.4 million is included in other liabilities and $3.4 million is included in deferred costs and other assets. The December 31, 2012 carrying value was a liability balance of $1.5 million and is included in other liabilities. The interest rate cap agreements were of nominal value at December 31, 2013 and 2012 and we generally do not apply hedge accounting to these arrangements.
	We are also exposed to fluctuations in foreign exchange rates on financial instruments which are denominated in foreign currencies, primarily in Japan and Europe. We use currency forward contracts and foreign currency denominated debt to manage our exposure to changes in foreign exchange rates on certain Yen and Euro-denominated receivables and net investments. Currency forward contracts involve fixing the Yen:USD or Euro:USD exchange rate for delivery of a specified amount of foreign currency on a specified date. The currency forward contracts are typically cash settled in US dollars for their fair value at or close to their settlement date. Approximately ¥1.6 billion remains as of December 31, 2013 for all forward contracts that we expect to settle through January 5, 2015. The December 31, 2013 asset balance related to these forward contracts was $5.0 million and is included in deferred costs and other assets. We have reported the changes in fair value for these forward contracts in earnings. The underlying currency adjustments on the foreign currency denominated receivables are also reported in income and generally offset the amounts in earnings for these forward contracts.
	In the fourth quarter of 2013, we entered into a Euro:USD forward contract with a €74.0 million notional value maturing on May 30, 2014 which we designated as a net investment hedge. The December 31, 2013 liability balance related to this forward contract was $0.8 million and is included in other liabilities. We apply hedge accounting and the change in fair value for this forward contract is reported in other comprehensive income. Changes in the value of this forward contract are offset by changes in the underlying hedged Euro-denominated joint venture investment.
	The total gross accumulated other comprehensive loss related to our derivative activities, including our share of the other comprehensive loss from joint venture properties, approximated $61.8 million and $78.1 million as of December 31, 2013 and 2012, respectively.
Noncontrolling Interests and Temporary Equity	'
	Noncontrolling Interests and Temporary Equity
	Details of the carrying amount of our noncontrolling interests are as follows as of December 31:
		2013			2012
	Limited partners' interests in the Operating Partnership	$	968,962		$	983,363
	Nonredeemable noncontrolling interests in properties, net		4,264			(877	)
	Total noncontrolling interests reflected in equity	$	973,226		$	982,486
	Net income attributable to noncontrolling interests (which includes nonredeemable noncontrolling interests in consolidated properties, limited partners' interests in the Operating Partnership, redeemable noncontrolling interests in consolidated properties, and preferred distributions payable by the Operating Partnership on its outstanding preferred units) is a component of consolidated net income. In addition, the individual components of other comprehensive income (loss) are presented in the aggregate for both controlling and noncontrolling interests, with the portion attributable to noncontrolling interests deducted from comprehensive income attributable to common stockholders.
	A rollforward of noncontrolling interests for the years ending December 31 is as follows:
		2013			2012			2011
	Noncontrolling interests, beginning of period	$	982,486		$	894,622		$	802,972
	Net income attributable to noncontrolling interests after preferred distributions and income attributable to redeemable noncontrolling interests in consolidated properties		221,176			274,701			210,240
	Distributions to noncontrolling interest holders		(242,881	)		(239,207	)		(212,526	)
	Other comprehensive income (loss) allocable to noncontrolling interests:
	Unrealized gain (loss) on derivative hedge agreements		1,057			5,634			(15,814	)
	Net loss reclassified from accumulated other comprehensive loss into earnings		1,317			3,021			2,774
	Currency translation adjustments		426			2,435			(1,484	)
	Changes in available-for-sale securities and other		(213	)		(6,807	)		(6,340	)
			2,587			4,283			(20,864	)
	Adjustment to limited partners' interest from change in ownership in the Operating Partnership		(29,615	)		99,834			(36,032	)
	Units issued to limited partners		—			31,324			9,084
	Units exchanged for common shares		(11,161	)		(144,197	)		(9,465	)
	Units redeemed		—			(38,904	)		—
	Long-term incentive performance units		45,341			41,470			27,881
	Purchase of noncontrolling interests, noncontrolling interests in newly consolidated properties and other		5,293			58,560			123,332
	Noncontrolling interests, end of period	$	973,226		$	982,486		$	894,622
Accumulated Other Comprehensive Income (Loss)	'
	Accumulated Other Comprehensive Income (Loss)
	The changes in components of our accumulated other comprehensive income (loss) consisted of the following net of noncontrolling interest as of December 31, 2013:
		Currency			Accumulated			Net unrealized			Total
		translation			derivative			gains on
		adjustments			losses, net			marketable
								securities
	Beginning balance	$	(26,220	)	$	(66,917	)	$	2,237		$	(90,900	)
	Other comprehensive income (loss) before reclassifications		2,439			6,044			(1,266	)		7,217
	Amounts reclassified from accumulated other comprehensive income (loss)		—			7,888			—			7,888
	Net current-period other comprehensive income (loss)		2,439			13,932			(1,266	)		15,105
	Ending balance	$	(23,781	)	$	(52,985	)	$	971		$	(75,795	)
	The reclassifications out of accumulated other comprehensive income (loss) consisted of the following as of December 31, 2013:
	Details about accumulated other comprehensive	Amount reclassified			Affected line item in the
	income (loss) components:	from accumulated			statement where
		other comprehensive			net income is presented
		income (loss)
	Accumulated derivative losses, net
		$	(9,205	)	Interest expense
			1,317		Net income attributable to noncontrolling interests
		$	(7,888	)
Revenue Recognition	'
	Revenue Recognition
	We, as a lessor, retain substantially all of the risks and benefits of ownership of the investment properties and account for our leases as operating leases. We accrue minimum rents on a straight-line basis over the terms of their respective leases. Substantially all of our retail tenants are also required to pay overage rents based on sales over a stated base amount during the lease year. We recognize overage rents only when each tenant's sales exceed the applicable sales threshold. We amortize any tenant inducements as a reduction of revenue utilizing the straight-line method over the term of the related lease or occupancy term of the tenant, if shorter.
	We structure our leases to allow us to recover a significant portion of our property operating, real estate taxes, repairs and maintenance, and advertising and promotion expenses from our tenants. A substantial portion of our leases, other than those for anchor stores, require the tenant to reimburse us for a substantial portion of our operating expenses, including common area maintenance, or CAM, real estate taxes and insurance. This significantly reduces our exposure to increases in costs and operating expenses resulting from inflation. Such property operating expenses typically include utility, insurance, security, janitorial, landscaping, food court and other administrative expenses. As of December 31, 2013 for substantially all of our leases in the U.S. mall portfolio, we receive a fixed payment from the tenant for the CAM component which is recognized as revenue when earned. When not reimbursed by the fixed-CAM component, CAM expense reimbursements are based on the tenant's proportionate share of the allocable operating expenses and CAM capital expenditures for the property. We also receive escrow payments for these reimbursements from substantially all our non-fixed CAM tenants and monthly fixed CAM payments throughout the year. We accrue reimbursements from tenants for recoverable portions of all these expenses as revenue in the period the applicable expenditures are incurred. We recognize differences between estimated recoveries and the final billed amounts in the subsequent year. These differences were not material in any period presented. Our advertising and promotional costs are expensed as incurred.
Management Fees and Other Revenues	'
	Management Fees and Other Revenues
	Management fees and other revenues are generally received from our unconsolidated joint venture properties as well as third parties. Management fee revenue is earned based on a contractual percentage of joint venture property revenue. Development fee revenue is earned on a contractual percentage of hard costs to develop a property. Leasing fee revenue is earned on a contractual per square foot charge based on the square footage of current year leasing activity. We recognize revenue for these services provided when earned based on the underlying activity.
	Revenues from insurance premiums charged to unconsolidated properties are recognized on a pro-rata basis over the terms of the policies. Insurance losses on these policies and our self-insurance for our consolidated properties are reflected in property operating expenses in the accompanying consolidated statements of operations and comprehensive income and include estimates for losses incurred but not reported as well as losses pending settlement. Estimates for losses are based on evaluations by third-party actuaries and management's estimates. Total insurance reserves for our insurance subsidiaries and other self-insurance programs as of December 31, 2013 and 2012 approximated $103.4 million and $112.8 million, respectively, and are included in other liabilities in the consolidated balance sheets. Information related to the securities included in the investment portfolio of our captive insurance subsidiaries is included within the "Marketable and Non-Marketable Securities" section above.
Allowance for Credit Losses	'
	Allowance for Credit Losses
	We record a provision for credit losses based on our judgment of a tenant's creditworthiness, ability to pay and probability of collection. In addition, we also consider the retail sector in which the tenant operates and our historical collection experience in cases of bankruptcy, if applicable. Accounts are written off when they are deemed to be no longer collectible. Presented below is the activity in the allowance for credit losses during the following years:
		For the Year Ended
		December 31,
		2013			2012			2011
	Balance, beginning of period	$	33,130		$	27,500		$	31,650
	Consolidation of previously unconsolidated properties		—			2,075			860
	Provision for credit losses		7,737			12,809			6,505
	Accounts written off, net of recoveries		(4,955	)		(9,254	)		(11,515	)
	Balance, end of period	$	35,912		$	33,130		$	27,500
Income Taxes	'
	Income Taxes
	We and certain subsidiaries of the Operating Partnership have elected to be taxed as REITs under Sections 856 through 860 of the Internal Revenue Code and applicable Treasury regulations relating to REIT qualification. In order to maintain this REIT status, the regulations require the entity to distribute at least 90% of taxable income to its owners and meet certain other asset and income tests as well as other requirements. We intend to continue to adhere to these requirements and maintain our REIT status and that of the REIT subsidiaries. As REITs, these entities will generally not be liable for federal corporate income taxes as long as they continue to distribute in excess of 100% of their taxable income. Thus, we made no provision for federal income taxes for these entities in the accompanying consolidated financial statements. If we or any of the REIT subsidiaries fail to qualify as a REIT, we or that entity will be subject to tax at regular corporate rates for the years in which it failed to qualify. If we lose our REIT status we could not elect to be taxed as a REIT for four years unless our failure to qualify was due to reasonable cause and certain other conditions were satisfied.
	We have also elected taxable REIT subsidiary, or TRS, status for some of our subsidiaries. This enables us to provide services that would otherwise be considered impermissible for REITs and participate in activities that do not qualify as "rents from real property". For these entities, deferred tax assets and liabilities are established for temporary differences between the financial reporting basis and the tax basis of assets and liabilities at the enacted tax rates expected to be in effect when the temporary differences reverse. A valuation allowance for deferred tax assets is provided if we believe all or some portion of the deferred tax asset may not be realized. An increase or decrease in the valuation allowance that results from the change in circumstances that causes a change in our judgment about the realizability of the related deferred tax asset is included in income.
	As of December 31, 2013 and 2012, we had a net deferred tax asset of $1.1 million and $4.1 million, respectively, related to our TRS subsidiaries. The net deferred tax asset is included in deferred costs and other assets in the accompanying consolidated balance sheets and consists primarily of operating losses and other carryforwards for federal income tax purposes as well as the timing of the deductibility of losses or reserves from insurance subsidiaries. No valuation allowance has been recorded as we believe these amounts will be realized.
	We are also subject to certain other taxes, including state and local taxes, franchise taxes, as well as income-based and withholding taxes on dividends from certain of our international investments, which are included in income and other taxes in the consolidated statements of operations and comprehensive income.
Corporate Expenses	'
	Corporate Expenses
	Home and regional office costs primarily include compensation and personnel related costs, travel, building and office costs, and other expenses for our corporate home office and regional offices. General and administrative expense primarily includes executive compensation, benefits and travel expenses as well as costs of being a public company including certain legal costs, audit fees, regulatory fees, and certain other professional fees.

Basis_of_Presentation_and_Cons1

Basis of Presentation and Consolidation (Tables)	12 Months Ended
	Dec. 31, 2013
Basis of Presentation and Consolidation	'
Schedule of weighted average ownership interest in the operating partnership	'
		For the Year Ended
		December 31,
		2013			2012			2011
	Weighted average ownership interest		85.6	%		83.9	%		82.9	%

Summary_of_Significant_Account2

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2013
Summary of Significant Accounting Policies	'
Schedule of interest capitalized	'
		For the Year Ended
		December 31,
		2013			2012			2011
	Capitalized interest	$	16,604		$	21,145		$	5,815
Schedule of deferred costs and other assets	'
		2013			2012
	Deferred financing and lease costs, net	$	344,970		$	334,337
	In-place lease intangibles, net		290,564			358,141
	Acquired above market lease intangibles, net		98,723			128,893
	Marketable securities of our captive insurance companies		94,720			119,424
	Goodwill		20,098			20,098
	Other marketable and non-marketable securities		173,887			150,264
	Prepaids, notes receivable and other assets, net		496,852			459,577
		$	1,519,814		$	1,570,734
Schedule of deferred financing and leasing costs	'
		2013			2012
	Deferred financing and lease costs	$	619,366		$	576,821
	Accumulated amortization		(274,396	)		(242,484	)
	Deferred financing and lease costs, net	$	344,970		$	334,337
Schedule of amortization, included in statements of operations and comprehensive income	'
		For the Year Ended December 31,
		2013			2012			2011
	Amortization of deferred financing costs	$	25,982		$	27,163		$	28,697
	Amortization of debt premiums, net of discounts		(33,535	)		(33,504	)		(8,439	)
	Amortization of deferred leasing costs		45,760			43,176			43,110
Schedule of intangible assets	'
		2013			2012
	In-place lease intangibles	$	481,661		$	480,517
	Accumulated depreciation		(191,097	)		(122,376	)
	In-place lease intangibles, net	$	290,564		$	358,141
	Acquired above market lease intangibles	$	249,115		$	248,357
	Accumulated amortization		(150,392	)		(119,464	)
	Acquired above market lease intangibles, net	$	98,723		$	128,893
Schedule of estimated future amortization and the increasing (decreasing) effect on minimum rents for above and below market leases	'
	Estimated future amortization and the increasing (decreasing) effect on minimum rents for our above and below market leases as of December 31, 2013 are as follows:
		Below			Above			Impact
		Market			Market			to
		Leases			Leases			Minimum
								Rent,
								Net
	2014	$	35,128		$	(22,020	)	$	13,108
	2015		30,552			(19,441	)		11,111
	2016		25,499			(17,468	)		8,031
	2017		17,995			(13,889	)		4,106
	2018		13,931			(11,062	)		2,869
	Thereafter		22,413			(14,843	)		7,570
		$	145,518		$	(98,723	)	$	46,795
Schedule of outstanding interest rate derivatives related to interest rate risk	'
	As of December 31, 2013, we had the following outstanding interest rate derivatives related to managing our interest rate risk:
	Interest Rate Derivative	Number of		Notional Amount
		Instruments
	Interest Rate Swaps	2		$491.6 million
	Interest Rate Caps	5		$248.3 million
Schedule of carrying amount of noncontrolling interests	'
		2013			2012
	Limited partners' interests in the Operating Partnership	$	968,962		$	983,363
	Nonredeemable noncontrolling interests in properties, net		4,264			(877	)
	Total noncontrolling interests reflected in equity	$	973,226		$	982,486
Schedule of rollforward of noncontrolling interests	'
		2013			2012			2011
	Noncontrolling interests, beginning of period	$	982,486		$	894,622		$	802,972
	Net income attributable to noncontrolling interests after preferred distributions and income attributable to redeemable noncontrolling interests in consolidated properties		221,176			274,701			210,240
	Distributions to noncontrolling interest holders		(242,881	)		(239,207	)		(212,526	)
	Other comprehensive income (loss) allocable to noncontrolling interests:
	Unrealized gain (loss) on derivative hedge agreements		1,057			5,634			(15,814	)
	Net loss reclassified from accumulated other comprehensive loss into earnings		1,317			3,021			2,774
	Currency translation adjustments		426			2,435			(1,484	)
	Changes in available-for-sale securities and other		(213	)		(6,807	)		(6,340	)
			2,587			4,283			(20,864	)
	Adjustment to limited partners' interest from change in ownership in the Operating Partnership		(29,615	)		99,834			(36,032	)
	Units issued to limited partners		—			31,324			9,084
	Units exchanged for common shares		(11,161	)		(144,197	)		(9,465	)
	Units redeemed		—			(38,904	)		—
	Long-term incentive performance units		45,341			41,470			27,881
	Purchase of noncontrolling interests, noncontrolling interests in newly consolidated properties and other		5,293			58,560			123,332
	Noncontrolling interests, end of period	$	973,226		$	982,486		$	894,622
Schedule of changes in components of accumulated other comprehensive income (loss) net of noncontrolling interest	'
		Currency			Accumulated			Net unrealized			Total
		translation			derivative			gains on
		adjustments			losses, net			marketable
								securities
	Beginning balance	$	(26,220	)	$	(66,917	)	$	2,237		$	(90,900	)
	Other comprehensive income (loss) before reclassifications		2,439			6,044			(1,266	)		7,217
	Amounts reclassified from accumulated other comprehensive income (loss)		—			7,888			—			7,888
	Net current-period other comprehensive income (loss)		2,439			13,932			(1,266	)		15,105
	Ending balance	$	(23,781	)	$	(52,985	)	$	971		$	(75,795	)
Schedule of reclassifications out of accumulated other comprehensive income (loss)	'
	Details about accumulated other comprehensive	Amount reclassified			Affected line item in the
	income (loss) components:	from accumulated			statement where
		other comprehensive			net income is presented
		income (loss)
	Accumulated derivative losses, net
		$	(9,205	)	Interest expense
			1,317		Net income attributable to noncontrolling interests
		$	(7,888	)
Schedule of activity in the allowance for credit losses including the activity related to discontinued operations	'
		For the Year Ended
		December 31,
		2013			2012			2011
	Balance, beginning of period	$	33,130		$	27,500		$	31,650
	Consolidation of previously unconsolidated properties		—			2,075			860
	Provision for credit losses		7,737			12,809			6,505
	Accounts written off, net of recoveries		(4,955	)		(9,254	)		(11,515	)
	Balance, end of period	$	35,912		$	33,130		$	27,500

Per_Share_Data_Tables

Per Share Data (Tables)	12 Months Ended
	Dec. 31, 2013
Per Share Data	'
Schedule of computation of basic and diluted earnings per share	'
		For the Year Ended December 31,
		2013			2012		2011
	Net Income available to Common Stockholders — Basic	$	1,316,304		$	1,431,159	$	1,021,462
	Effect of dilutive securities:
	Impact to General Partner's interest in Operating Partnership from all dilutive securities and options		—			—		39
	Net Income available to Common Stockholders — Diluted	$	1,316,304		$	1,431,159	$	1,021,501
	Weighted Average Shares Outstanding — Basic		310,255,168			303,137,350		293,504,064
	Effect of stock options		50			1,072		69,408
	Weighted Average Shares Outstanding — Diluted		310,255,218			303,138,422		293,573,472
Schedule of taxable nature of dividend declared	'
		For the Year Ended
		December 31,
		2013		2012		2011
	Total dividends paid per common share	$4.65		$4.10		$3.50
	Percent taxable as ordinary income	97.50%		99.50%		98.30%
	Percent taxable as long-term capital gains	2.50%		0.50%		1.70%
		100.00%		100.00%		100.00%

Investment_Properties_Tables

Investment Properties (Tables)	12 Months Ended
	Dec. 31, 2013
Investment Properties	'
Schedule of investment properties	'
		2013		2012
	Land	$	3,747,079	$	3,736,882
	Buildings and improvements		31,026,081		30,187,495
	Total land, buildings and improvements		34,773,160		33,924,377
	Furniture, fixtures and equipment		353,184		328,144
	Investment properties at cost		35,126,344		34,252,521
	Less — accumulated depreciation		10,067,743		9,068,388
	Investment properties at cost, net	$	25,058,601	$	25,184,133
	Construction in progress included above	$	364,542	$	329,663

Investments_in_Unconsolidated_1

Investments in Unconsolidated Entities (Tables)	12 Months Ended
	Dec. 31, 2013
Investments in Unconsolidated Entities	'
Summary of equity method investments and share of income from such investments, balance sheet	'
		December 31,			December 31,
		2013			2012
	Assets:
	Investment properties, at cost	$	15,824,689		$	14,607,291
	Less - accumulated depreciation		5,294,578			4,926,511
			10,530,111			9,680,780
	Cash and cash equivalents		792,751			619,546
	Tenant receivables and accrued revenue, net		310,320			252,774
	Investment in unconsolidated entities, at equity		38,352			39,589
	Deferred costs and other assets		586,622			438,399
	Total assets	$	12,258,156		$	11,031,088
	Liabilities and Partners' Deficit:
	Mortgages	$	13,024,257		$	11,584,863
	Accounts payable, accrued expenses, intangibles, and deferred revenues		849,107			672,483
	Other liabilities		514,822			447,132
	Total liabilities		14,388,186			12,704,478
	Preferred units		67,450			67,450
	Partners' deficit		(2,197,480	)		(1,740,840	)
	Total liabilities and partners' deficit	$	12,258,156		$	11,031,088
	Our Share of:
	Partners' deficit	$	(717,776	)	$	(799,911	)
	Add: Excess Investment		2,059,584			2,184,133
	Our net Investment in unconsolidated entities, at equity	$	1,341,808		$	1,384,222
Schedule of principal repayments on joint venture properties' mortgage indebtedness	'
	As of December 31, 2013, scheduled principal repayments on joint venture properties' mortgage indebtedness are as follows:
	2014	$	1,103,850
	2015		2,090,963
	2016		1,304,721
	2017		866,378
	2018		736,078
	Thereafter		6,917,266
	Total principal maturities		13,019,256
	Net unamortized debt premiums and discounts		5,001
	Total mortgages	$	13,024,257
Summary of equity method investments and share of income from such investments, statement of operations	'
		2013			2012			2011
	Revenue:
	Minimum rent	$	1,666,886		$	1,487,554		$	1,424,038
	Overage rent		180,772			176,609			140,822
	Tenant reimbursements		765,357			691,564			660,354
	Other income		200,104			171,698			150,949
	Total revenue		2,813,119			2,527,425			2,376,163
	Operating Expenses:
	Property operating		498,485			477,338			460,235
	Depreciation and amortization		528,317			508,083			487,057
	Real estate taxes		212,667			178,739			167,608
	Repairs and maintenance		69,116			65,163			64,271
	Advertising and promotion		62,339			55,175			50,653
	Provision for credit losses		1,287			1,824			4,496
	Other		156,115			170,510			148,110
	Total operating expenses		1,528,326			1,456,832			1,382,430
	Operating Income		1,284,793			1,070,593			993,733
	Interest expense		(694,904	)		(599,400	)		(593,408	)
	Income from Continuing Operations		589,889			471,193			400,325
	Gain (loss) from operations of discontinued joint venture interests		46			(20,311	)		(57,961	)
	Gain (loss) on disposal of discontinued operations, net		51,164			(5,354	)		347,640
	Net Income	$	641,099		$	445,528		$	690,004
	Third-Party Investors' Share of Net Income	$	353,708		$	239,931		$	384,384
	Our Share of Net Income		287,391			205,597			305,620
	Amortization of Excess Investment		(102,875	)		(83,400	)		(50,562	)
	Our Share of Loss (Gain) on Sale or Disposal of Assets and Interests in Unconsolidated Entities, net		—			9,245			(173,820	)
	Income from Unconsolidated Entities	$	184,516		$	131,442		$	81,238

Indebtedness_and_Derivative_Fi1

Indebtedness and Derivative Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2013
Indebtedness and Derivative Financial Instruments	'
Schedule of mortgages and unsecured indebtedness	'
		2013			2012
	Fixed-Rate Debt:
	Mortgage notes, including $63,968 and $101,104 net premiums, respectively. Weighted average interest and maturity of 5.62% and 4.2 years at December 31, 2013.	$	7,894,527		$	7,677,204
	Unsecured notes, including $38,519 and $38,847 net discounts, respectively. Weighted average interest and maturity of 4.87% and 6.4 years at December 31, 2013.		13,931,705			13,400,154
	Total Fixed-Rate Debt		21,826,232			21,077,358
	Variable-Rate Debt:
	Mortgages notes, at face value. Weighted average interest and maturity of 1.52% and 3.7 years at December 31, 2013.		350,000			442,152
	Unsecured Term Loan (see below)		240,000			—
	Credit Facility (see below)		1,172,299			1,593,497
	Total Variable-Rate Debt		1,762,299			2,035,649
	Total Mortgages and Unsecured Indebtedness	$	23,588,531		$	23,113,007
Schedule of principal repayments of indebtedness	'
	Our scheduled principal repayments on indebtedness as of December 31, 2013 are as follows:
	2014	$	2,072,529
	2015		1,972,833
	2016		5,005,080
	2017		3,594,748
	2018		2,031,818
	Thereafter		8,886,074
	Total principal maturities		23,563,082
	Net unamortized debt premium		25,449
	Total mortgages and unsecured indebtedness	$	23,588,531
Schedule of cash paid for interest in each period, net of any amounts capitalized	'
		For the Year Ended December 31,
		2013			2012			2011
	Cash paid for interest	$	1,142,201		$	1,122,223		$	979,436
Schedule of fair values of financial instruments and the related discount rate assumptions	'
		2013			2012
	Fair value of fixed-rate mortgages and unsecured indebtedness	$	23,297		$	23,373
	Weighted average discount rates assumed in calculation of fair value for fixed-rate mortgages		3.07	%		3.24	%

Rentals_under_Operating_Leases1

Rentals under Operating Leases (Tables)	12 Months Ended
	Dec. 31, 2013
Rentals under Operating Leases	'
Schedule of future minimum rentals to be received under noncancelable tenant operating leases for each of the next five years and thereafter	'
	Future minimum rentals to be received under non-cancelable tenant operating leases for each of the next five years and thereafter, excluding tenant reimbursements of operating expenses and percentage rent based on tenant sales volume as of December 31, 2013 are as follows:
	2014	$	2,774,293
	2015		2,507,650
	2016		2,228,505
	2017		1,943,459
	2018		1,618,167
	Thereafter		4,614,730
		$	15,686,804

Equity_Tables

Equity (Tables)	12 Months Ended
	Dec. 31, 2013
Equity	'
Schedule of Limited Partners' Preferred Interests in the Operating Partnership and Other Noncontrolling Redeemable Interests in Properties	'
		2013			2012
	7.50% Cumulative Redeemable Preferred Units, 260,000 units authorized, 255,373 issued and outstanding	$	25,537		$	25,537
	Other noncontrolling redeemable interests in properties		164,948			152,469
	Limited partners' preferred interest in the Operating Partnership and other noncontrolling redeemable interests in properties	$	190,485		$	178,006
Schedule of LTIP units earned and aggregate grant date fair values adjusted for estimated forfeitures	'
	LTIP Program	LTIP Units Earned		Grant Date Fair Value
	2010 LTIP Program
	1-year 2010 LTIP Program	133,673		1-year program — $7.2 million
	2-year 2010 LTIP Program	337,006		2-year program — $14.8 million
	3-year 2010 LTIP Program	489,654		3-year program — $23.0 million
	2011-2013 LTIP Program	469,848		$35.0 million
	2012-2014 LTIP Program	To be determined in 2015		$35.0 million
	2013-2015 LTIP Program	To be determined in 2016		$33.5 million
Schedule of restricted stock awards	'
		For the Year Ended
		December 31,
		2013			2012		2011
	Shares of restricted stock awarded during the year, net of forfeitures		107,123			114,066		116,885
	Weighted average fair value of shares granted during the year	$	160.2		$	146.7	$	110.12
	Amortization expense	$	18,311		$	14,001	$	14,018

Commitments_and_Contingencies_

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2013
Commitments and Contingencies.	'
Schedule of ground lease expense and home office and regional expense incurred, included in other expense	'
		For the Year Ended,
		December 31,
		2013		2012		2011
	Ground lease expense	$	40,042	$	43,421	$	42,284
	Office lease expense		4,057		2,004		2,047
Schedule of future minimum lease payments due under leases, excluding applicable extension options and any sublease income	'
	Future minimum lease payments due under these leases for years ending December 31, excluding applicable extension options and any sublease income, are as follows:
	2014	$	25,974
	2015		30,991
	2016		36,851
	2017		36,863
	2018		36,818
	Thereafter		1,012,997
		$	1,180,494

Related_Party_Transactions_Tab

Related Party Transactions (Tables)	12 Months Ended
	Dec. 31, 2013
Related Party Transactions	'
Schedule of related party transactions	'
		For the Year Ended
		December 31,
		2013		2012		2011
	Amounts charged to unconsolidated joint ventures	$	121,996	$	119,534	$	125,306
	Amounts charged to properties owned by related parties		4,510		4,416		4,353

Quarterly_Financial_Data_Unaud1

Quarterly Financial Data (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2013
Quarterly Financial Data (Unaudited)	'
Schedule of quarterly financial data	'
		First		Second		Third		Fourth
		Quarter		Quarter		Quarter		Quarter
	2013
	Total revenue	$	1,215,058	$	1,236,563	$	1,302,256	$	1,416,260
	Operating income		557,689		564,890		600,565		692,546
	Consolidated net income		334,468		400,525		367,293		449,304
	Net income attributable to common stockholders		283,138		339,936		311,675		381,555
	Net income per share — Basic	$	0.91	$	1.1	$	1	$	1.23
	Net income per share — Diluted	$	0.91	$	1.1	$	1	$	1.23
	Weighted average shares outstanding		309,986,506		310,261,278		310,332,777		310,434,337
	Diluted weighted average shares outstanding		309,986,709		310,261,278		310,332,777		310,434,337
	2012
	Total revenue	$	1,118,969	$	1,188,066	$	1,228,617	$	1,344,431
	Operating income		516,721		524,327		564,953		614,598
	Consolidated net income		781,829		260,936		306,371		370,496
	Net income attributable to common stockholders		645,410		215,445		254,921		315,383
	Net income per share — Basic	$	2.18	$	0.71	$	0.84	$	1.01
	Net income per share — Diluted	$	2.18	$	0.71	$	0.84	$	1.01
	Weighted average shares outstanding		295,693,410		303,252,359		304,107,489		303,137,350
	Diluted weighted average shares outstanding		295,694,520		303,253,401		304,108,559		303,138,422

Organization_Details

Organization (Details)

0 Months Ended

12 Months Ended

12 Months Ended

Dec. 13, 2013

Mar. 14, 2012

Dec. 31, 2013

Dec. 31, 2013

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Dec. 31, 2013

Dec. 31, 2013

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Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2013

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Dec. 31, 2012

Dec. 31, 2013

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Dec. 31, 2013

2014 Forecasted Spinoff

Klepierre

U.S. and Puerto Rico

U.S. and Puerto Rico

U.S. and Puerto Rico

U.S. and Puerto Rico

U.S. and Puerto Rico

U.S. and Puerto Rico

Japan

Japan

Japan

South Korea

South Korea

South Korea

Canada

Mexico

Mexico

Mexico

Malaysia

Malaysia

Malaysia

Europe

Europe

Italy

Austria

Netherlands

United Kingdom

property

property

Malls

Premium Outlets

Community/Lifestyle Centers

The Mills

Other shopping centers or outlet centers

property

property

Premium Outlets

property

property

Premium Outlets

Premium Outlets

property

property

Premium Outlets

property

property

Premium Outlets

property

Klepierre

property

property

property

property

Item

property

property

property

property

property

property

property

property

property

property

country

Owned, developed and managed retail properties:

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of income-producing properties

'

'

308

156

66

62

13

11

9

8

9

3

2

3

1

1

1

1

1

1

1

'

'

'

'

'

'

Number of U.S. states containing property locations

'

'

38

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of properties in which interest is acquired

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

5

'

2

1

1

1

Joint venture ownership percentage

'

28.70%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

28.90%

'

'

'

'

Number of countries

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

13

'

'

'

'

Number of properties merged under spin off into publicly traded REIT (SpinCo)

98

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Basis_of_Presentation_and_Cons2

Basis of Presentation and Consolidation (Details)	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2013	Dec. 31, 2013	Dec. 04, 2012
	property		McArthurGlen Group	Weighted average	Weighted average	Weighted average	Wholly owned properties	Partially owned properties	Consolidated properties
			property				property	property	property
Basis of Presentation	'	'	'	'	'	'	'	'	'
Ownership interests acquired (as a percent)	'	'	'	'	'	'	'	'	50.00%
Number of properties included in consolidation	'	'	'	'	'	'	217	18	'
Total number of joint venture properties	93	'	'	'	'	'	'	'	'
Number of joint venture properties managed by the entity	70	'	'	'	'	'	'	'	'
Number of International joint venture properties	20	'	'	'	'	'	'	'	'
Number of properties in which interest is acquired	'	'	5	'	'	'	'	'	2
Number of joint venture properties managed by others	23	'	'	'	'	'	'	'	'
Ownership interest:	'	'	'	'	'	'	'	'	'
Ownership percentage in the Operating Partnership	85.70%	85.60%	'	85.60%	83.90%	82.90%	'	'	'

Summary_of_Significant_Account3

Summary of Significant Accounting Policies (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Investment Properties	'	'	'
Capitalized interest	$16,604	$21,145	$5,815
Buildings and improvements | Minimum	'	'	'
Investment properties	'	'	'
Useful life	'10 years	'	'
Buildings and improvements | Maximum	'	'	'
Investment properties	'	'	'
Useful life	'35 years	'	'
Equipment and fixtures | Minimum	'	'	'
Investment properties	'	'	'
Useful life	'7 years	'	'
Equipment and fixtures | Maximum	'	'	'
Investment properties	'	'	'
Useful life	'10 years	'	'

Summary_of_Significant_Account4

Summary of Significant Accounting Policies (Details 2) (USD $)	12 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Discontinued Operations	'	'	'
Gain (loss) upon acquisition of controlling interests, sale or disposal of assets and interests in unconsolidated entities and impairment charge on investment in unconsolidated entities, net	$107,515	$510,030	$216,629
Sale of Consolidated Properties	'	'	'
Discontinued Operations	'	'	'
Gain (loss) upon acquisition of controlling interests, sale or disposal of assets and interests in unconsolidated entities and impairment charge on investment in unconsolidated entities, net	$64,800	$21,100	($42,400)
Net gain (loss) upon acquisition of controlling interests, and on sale or disposal of assets and interests in unconsolidated entities, per diluted share (in dollars per share)	$0.18	$0.06	($0.12)

Summary_of_Significant_Account5

Summary of Significant Accounting Policies (Details 3) (USD $)	3 Months Ended		12 Months Ended		0 Months Ended
In Millions, except Share data, unless otherwise specified	Dec. 31, 2012	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Oct. 23, 2012	Oct. 23, 2012	Oct. 23, 2012	Dec. 31, 2013	Dec. 31, 2012
			Available for sale securities	Available for sale securities	Available for sale securities	Available for sale securities	Available for sale securities	Held-to-maturity securities	Held-to-maturity securities
			Securities in captive insurance subsidiary portfolio	Securities in captive insurance subsidiary portfolio	Original investment de-merged into CSCG and CAPC	CSCG	CAPC
			Minimum	Maximum
Marketable and Non-Marketable Securities	'	'	'	'	'	'	'	'	'
Investment maturity period	'	'	'1 year	'10 years	'	'	'	'	'
Net unrealized gains (losses) recorded in accumulated other comprehensive income (loss)	$2.60	$1.10	'	'	'	'	'	'	'
Number of shares owned	'	'	'	'	'	35,400,000	38,900,000	'	'
Proceeds received from the sale of investments	'	'	'	'	327.1	'	'	'	'
Gain recognized on sale of investment	'	'	'	'	82.7	'	'	'	'
Amount included in gain reclassified from accumulated other comprehensive income (loss)	'	'	'	'	79.4	'	'	'	'
Investments used to fund debt service requirements	'	'	'	'	'	'	'	0	24.9
Carrying value of investments under the cost method	98.9	118.8	'	'	'	'	'	'	'
Other-than-temporary non-cash charges	$71	'	'	'	'	'	'	'	'

Summary_of_Significant_Account6

Summary of Significant Accounting Policies (Details 4) (Recurring, USD $)	Dec. 31, 2013	Dec. 31, 2012
In Millions, unless otherwise specified
Level 1	'	'
Fair Value Measurements	'	'
Marketable securities with Level 1 fair value inputs	$148.30	$170.20
Level 2	'	'
Fair Value Measurements	'	'
Interest rate swap agreements and foreign currency forward contracts, gross liability balance	1.2	1.5
Interest rate swap agreements and foreign currency forward contracts, gross asset balance	8.4	3
Level 3	'	'
Fair Value Measurements	'	'
Investments	$0	'

Summary_of_Significant_Account7

Summary of Significant Accounting Policies (Details 5) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
	Item
Segment Disclosure	'	'	'
Number of reportable segments	1	'	'
Deferred costs and other assets	'	'	'
Deferred financing and lease costs, net	$344,970	$334,337	'
In-place lease intangibles, net	290,564	358,141	'
Acquired above market lease intangibles, net	98,723	128,893	'
Marketable securities of our captive insurance companies	94,720	119,424	'
Goodwill	20,098	20,098	'
Other marketable and non-marketable securities	173,887	150,264	'
Prepaids, notes receivable and other assets, net	496,852	459,577	'
Deferred costs and other assets	1,519,814	1,570,734	'
Deferred Financing and Lease Costs	'	'	'
Deferred financing and lease costs, gross	619,366	576,821	'
Accumulated amortization	-274,396	-242,484	'
Deferred financing and lease costs, net	344,970	334,337	'
Amortization, included in statements of operations and comprehensive income	'	'	'
Amortization of deferred financing costs	25,982	27,163	28,697
Amortization of debt premiums, net of discounts	-33,535	-33,504	-8,439
Amortization of deferred leasing costs	$45,760	$43,176	$43,110

Summary_of_Significant_Account8

Summary of Significant Accounting Policies (Details 6) (USD $)	12 Months Ended
In Millions, unless otherwise specified	Dec. 31, 2012	Dec. 31, 2011
Loans Held for Investment	'	'
Interest income on loans held for investment	$6.80	$24.30

Summary_of_Significant_Account9

Summary of Significant Accounting Policies (Details 7) (USD $)	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Intangible Assets	'	'	'
Unamortized below market leases included in accounts payable, accrued expenses, intangibles and deferred revenues	$145,500,000	$199,200,000	'
Estimated future amortization, and the increasing (decreasing) effect on below market minimum rents	'	'	'
2014	35,128,000	'	'
2015	30,552,000	'	'
2016	25,499,000	'	'
2017	17,995,000	'	'
2018	13,931,000	'	'
Thereafter	22,413,000	'	'
Lease intangibles assets, net	145,518,000	'	'
Estimated future amortization, and the increasing (decreasing) effect on minimum rents	'	'	'
2014	13,108,000	'	'
2015	11,111,000	'	'
2016	8,031,000	'	'
2017	4,106,000	'	'
2018	2,869,000	'	'
Thereafter	7,570,000	'	'
Lease intangibles assets, net	46,795,000	'	'
In-place lease intangibles	'	'	'
Intangible Assets	'	'	'
Average life of in-place lease intangibles	'3 years 9 months 18 days	'	'
Lease intangibles assets, gross	481,661,000	480,517,000	'
Accumulated amortization	-191,097,000	-122,376,000	'
Lease intangibles assets, net	290,564,000	358,141,000	'
Above and below market leases	'	'	'
Intangible Assets	'	'	'
Weighted average remaining life of intangible	'5 years	'	'
Amount of amortization expenses	24,100,000	16,500,000	17,600,000
Above Market Leases	'	'	'
Intangible Assets	'	'	'
Lease intangibles assets, gross	249,115,000	248,357,000	'
Accumulated amortization	-150,392,000	-119,464,000	'
Lease intangibles assets, net	98,723,000	128,893,000	'
Estimated future amortization, and the increasing (decreasing) effect on minimum rents	'	'	'
2014	-22,020,000	'	'
2015	-19,441,000	'	'
2016	-17,468,000	'	'
2017	-13,889,000	'	'
2018	-11,062,000	'	'
Thereafter	-14,843,000	'	'
Lease intangibles assets, net	($98,723,000)	'	'

Recovered_Sheet1

Summary of Significant Accounting Policies (Details 8)	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013
In Millions, unless otherwise specified	USD ($)	USD ($)	Interest rate swap	Interest rate swap	Interest rate swap	Interest rate swap	Interest rate cap	USD-Yen currency forward contract	USD-Yen currency forward contract	USD-Euro currency forward contract	USD-Euro currency forward contract
			USD ($)	Other liabilities	Other liabilities	Deferred costs and other assets	USD ($)	JPY (¥)	Deferred costs and other assets	EUR (€)	Other liabilities
			instrument	USD ($)	USD ($)	USD ($)	instrument		USD ($)		USD ($)
Derivative financial instruments	'	'	'	'	'	'	'	'	'	'	'
Number of Instruments	'	'	2	'	'	'	5	'	'	'	'
Notional Amount	'	'	$491.60	'	'	'	$248.30	¥ 1,600	'	€ 74	'
Interest rate net, fair value	'	'	3	-0.4	-1.5	3.4	'	'	'	'	'
Forward contract net, fair value	'	'	'	'	'	'	'	'	5	'	-0.8
Gross accumulated other comprehensive income or loss related to derivative activities	$61.80	$78.10	'	'	'	'	'	'	'	'	'

Recovered_Sheet2

Summary of Significant Accounting Policies (Details 9) (USD $)	Dec. 31, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Noncontrolling interests, carrying amounts, reclassified to permanent equity:	'	'
Limited partners' interests in the Operating Partnership	$968,962	$983,363
Nonredeemable noncontrolling deficit interests in properties, net	4,264	-877
Total noncontrolling interests reflected in equity	$973,226	$982,486

Recovered_Sheet3

Summary of Significant Accounting Policies (Details 10) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Noncontrolling interests:	'	'	'
Balance	$6,893,089	$5,544,288	$5,633,752
Other comprehensive income (loss) allocable to noncontrolling interests:	'	'	'
Unrealized gain (loss) on derivative hedge agreements	7,101	16,652	-91,933
Net loss reclassified from accumulated other comprehensive loss into earnings	9,205	21,042	16,169
Currency translation adjustments	2,865	9,200	-8,462
Changes in available-for-sale securities and other	-1,479	-39,248	-37,431
Other comprehensive income (loss)	17,692	7,646	-121,657
Balance	6,822,632	6,893,089	5,544,288
Noncontrolling Interests	'	'	'
Noncontrolling interests:	'	'	'
Balance	982,486	894,622	802,972
Net income attributable to noncontrolling interests after preferred distributions and income attributable to redeemable noncontrolling interests in consolidated properties	221,176	274,701	210,240
Distributions to noncontrolling interest holders	-242,881	-239,207	-212,526
Other comprehensive income (loss) allocable to noncontrolling interests:	'	'	'
Unrealized gain (loss) on derivative hedge agreements	1,057	5,634	-15,814
Net loss reclassified from accumulated other comprehensive loss into earnings	1,317	3,021	2,774
Currency translation adjustments	426	2,435	-1,484
Changes in available-for-sale securities and other	-213	-6,807	-6,340
Other comprehensive income (loss)	2,587	4,283	-20,864
Adjustment to limited partners' interest from change in ownership in the Operating Partnership	-29,615	99,834	-36,032
Units issued to limited partners	'	31,324	9,084
Units exchanged for common shares	-11,161	-144,197	-9,465
Units Redeemed	'	-38,904	'
Long-term incentive performance units	45,341	41,470	27,881
Purchase of noncontrolling interests, noncontrolling interests in newly consolidated properties and other	5,293	58,560	123,332
Balance	$973,226	$982,486	$894,622

Recovered_Sheet4

Summary of Significant Accounting Policies (Details 11) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013
Significant Accounting Policies	'
Beginning balance	($90,900)
Other comprehensive income (loss) before reclassifications	7,217
Amounts reclassified from accumulated other comprehensive income (loss)	7,888
Other comprehensive income (loss)	15,105
Ending balance	-75,795
Currency translation adjustments	'
Significant Accounting Policies	'
Beginning balance	-26,220
Other comprehensive income (loss) before reclassifications	2,439
Other comprehensive income (loss)	2,439
Ending balance	-23,781
Accumulated derivative losses, net	'
Significant Accounting Policies	'
Beginning balance	-66,917
Other comprehensive income (loss) before reclassifications	6,044
Amounts reclassified from accumulated other comprehensive income (loss)	7,888
Other comprehensive income (loss)	13,932
Ending balance	-52,985
Net unrealized gains on marketable securities	'
Significant Accounting Policies	'
Beginning balance	2,237
Other comprehensive income (loss) before reclassifications	-1,266
Other comprehensive income (loss)	-1,266
Ending balance	$971

Recovered_Sheet5

Summary of Significant Accounting Policies (Details 12) (USD $)	3 Months Ended								12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Significant Accounting Policies	'	'	'	'	'	'	'	'	'	'	'
Interest expense	'	'	'	'	'	'	'	'	($1,137,139)	($1,127,025)	($983,526)
Net income attributable to noncontrolling interests	'	'	'	'	'	'	'	'	231,949	285,136	221,101
NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS	381,555	311,675	339,936	283,138	315,383	254,921	215,445	645,410	1,316,304	1,431,159	1,021,462
Amount reclassified from accumulated other comprehensive income (loss)	'	'	'	'	'	'	'	'	'	'	'
Significant Accounting Policies	'	'	'	'	'	'	'	'	'	'	'
NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS	'	'	'	'	'	'	'	'	-7,888	'	'
Accumulated derivative losses, net | Amount reclassified from accumulated other comprehensive income (loss)	'	'	'	'	'	'	'	'	'	'	'
Significant Accounting Policies	'	'	'	'	'	'	'	'	'	'	'
Interest expense	'	'	'	'	'	'	'	'	-9,205	'	'
Net income attributable to noncontrolling interests	'	'	'	'	'	'	'	'	$1,317	'	'

Recovered_Sheet6

Summary of Significant Accounting Policies (Details 13) (USD $)	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Management Fees and Other Revenues	'	'	'
Insurance reserve for insurance subsidiaries and other self-insurance programs	$103,400,000	$112,800,000	'
Allowance for Credit Losses	'	'	'
Balance, beginning of period	33,130,000	27,500,000	31,650,000
Consolidation of previously unconsolidated properties	'	2,075,000	860,000
Provision for credit losses	7,737,000	12,809,000	6,505,000
Accounts written off, net of recoveries	-4,955,000	-9,254,000	-11,515,000
Balance, end of period	35,912,000	33,130,000	27,500,000
Income Taxes	'	'	'
Provision for federal income taxes for REIT entities	0	'	'
Deferred tax assets related to TRS subsidiaries, net	1,100,000	4,100,000	'
Valuation allowance	$0	'	'

Real_Estate_Acquisitions_and_D1

Real Estate Acquisitions and Dispositions (Details) (USD $)

12 Months Ended

0 Months Ended

12 Months Ended

0 Months Ended

0 Months Ended

3 Months Ended

12 Months Ended

3 Months Ended

12 Months Ended

12 Months Ended

0 Months Ended

12 Months Ended

0 Months Ended

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

21-May-12

Mar. 14, 2012

Jan. 06, 2012

Aug. 08, 2013

3-May-12

Dec. 31, 2011

Jan. 10, 2014

30-May-13

Dec. 04, 2012

Dec. 04, 2012

Dec. 04, 2012

Jun. 04, 2012

Mar. 22, 2012

Dec. 31, 2011

Dec. 31, 2011

Sep. 30, 2012

Sep. 30, 2012

Sep. 30, 2011

Jan. 10, 2014

Aug. 25, 2011

Jul. 19, 2011

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2013

Mar. 22, 2012

Sep. 30, 2011

Mar. 22, 2012

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2012

Dec. 04, 2012

Jan. 10, 2014

Mar. 22, 2012

Dec. 31, 2013

Dec. 31, 2012

Dec. 04, 2012

Klepierre

Klepierre

Del Amo Fashion Center

Office property, Boston, Massachusetts

The Domain, Austin, TX

Sale of Consolidated Properties

Portfolio of ten properties

Outlet center, Portland OR

Grand Prairie and Livermore properties

Livermore Premium Outlets, Livermore (San Francisco), CA

Grand Prairie Premium Outlets, Grand Prairie (Dallas), TX

Outlet center, Destin, FL

TMLP 2012 acquisition

Dissolved Joint Venture Partnership

Dissolved Joint Venture Partnership

Dissolved Joint Venture Partnership

Dissolved Joint Venture Partnership

King of Prussia

King of Prussia

King of Prussia

Albuquerque, New Mexico lifestyle center

Retail properties

Outlet center

Real estate property interests

Real estate property interests

Unconsolidated properties

Unconsolidated properties

Unconsolidated properties

Unconsolidated properties

Unconsolidated properties

Consolidated properties

Consolidated properties

Consolidated properties

Consolidated properties

Consolidated properties

Consolidated properties

property

property

sqft

sqft

property

Maximum

property

property

TMLP 2012 acquisition

property

TMLP 2012 acquisition

Community Centers

Retail properties

Retail properties

property

Portfolio of ten properties

TMLP 2012 acquisition

Retail properties

Retail properties

Outlet center

Item

property

property

property

property

property

property

property

property

property

Grand Prairie and Livermore properties

property

Real Estate Acquisitions and Dispositions

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of properties in which interest is acquired

'

'

'

'

'

'

'

'

'

10

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

5

'

'

'

'

3

'

'

2

7

'

'

'

2

Consideration paid

'

'

'

'

'

'

'

'

'

$113,300,000

'

$260,900,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Consideration paid in cash, percentage

'

'

'

'

'

'

'

'

'

'

'

90.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Consideration paid by issuance of units, percentage

'

'

'

'

'

'

'

'

'

'

'

10.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Property interest acquired (as a percent)

'

'

'

'

'

'

'

'

'

'

100.00%

'

'

'

50.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Area of property acquired (in square feet)

'

'

'

'

'

'

'

'

'

'

390,000

'

'

'

465,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Property interest acquired

'

'

'

'

'

'

'

'

'

'

146,700,000

'

'

'

70,500,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Gain on acquisition of property interests

'

'

'

'

'

'

'

'

'

'

27,300,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Ownership interests acquired (as a percent)

'

'

'

'

'

'

'

'

'

'

'

'

50.00%

50.00%

'

'

'

'

'

'

'

'

83.75%

100.00%

'

'

'

'

'

'

'

'

'

50.00%

'

'

'

'

'

Ownership interest after acquisition (as a percent)

'

'

'

'

'

'

'

'

'

'

'

'

100.00%

100.00%

'

'

100.00%

100.00%

'

'

'

100.00%

96.10%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Construction loans extinguished upon acquisition

'

'

'

'

'

'

'

'

'

'

'

162,500,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of properties

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

18

26

9

16

'

'

'

'

'

9

'

'

'

Transaction value

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1,500,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Joint venture ownership percentage

'

'

'

'

28.70%

'

'

'

'

'

'

'

'

'

'

'

50.00%

50.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Purchase price of equity method investment acquired

'

'

'

'

2,000,000,000

50,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Joint venture ownership percentage

'

'

'

'

'

25.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Joint venture ownership percentage after transactions

'

'

'

28.90%

'

50.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of consolidated properties received in distribution

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

6

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Gain due to acquisition of controlling interest

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

168,300,000

'

'

'

82,900,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

488,700,000

'

'

'

Investment properties

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

585,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Lease related intangibles

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

59,100,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Mortgage debt including debt premiums

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

2,600,000,000

'

'

468,800,000

'

'

'

160,100,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Estimated life of investment property

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'40 years

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of properties disposed of during the period

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

3

3

4

'

'

'

8

9

'

Gain (loss) on disposition

'

'

'

'

'

'

7,900,000

12,400,000

-42,400,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

15,500,000

'

80,200,000

'

'

'

'

'

'

'

'

'

'

'

'

Number of properties sold

'

'

'

'

'

'

'

2

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Aggregate carrying value of consolidated properties disposed of

'

'

'

'

'

'

'

'

355,400,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Debt obligation related to consolidated properties disposed of

'

'

'

'

'

'

'

'

177,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Net proceeds from sale of assets

$274,058,000

$383,804,000

$136,013,000

'

'

'

'

'

$136,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of partner's interest acquired

'

'

'

'

'

'

'

'

'

1

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Per_Share_Data_Details

Per Share Data (Details) (USD $)

0 Months Ended

3 Months Ended

12 Months Ended

In Thousands, except Share data, unless otherwise specified

Jan. 31, 2014

Dec. 31, 2013

Sep. 30, 2013

Jun. 30, 2013

Mar. 31, 2013

Dec. 31, 2012

Sep. 30, 2012

Jun. 30, 2012

Mar. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Per Share Data

'

'

'

'

'

'

'

'

'

'

'

'

Net Income available to Common Stockholders - Basic

'

$381,555

$311,675

$339,936

$283,138

$315,383

$254,921

$215,445

$645,410

$1,316,304

$1,431,159

$1,021,462

Effect of dilutive securities:

'

'

'

'

'

'

'

'

'

'

'

'

Impact to General Partner's interest in Operating Partnership from all dilutive securities and options

'

'

'

'

'

'

'

'

'

'

'

39

Net Income available to Common Stockholders - Diluted

'

'

'

'

'

'

'

'

'

$1,316,304

$1,431,159

$1,021,501

Weighted Average Shares Outstanding - Basic

'

310,434,337

310,332,777

310,261,278

309,986,506

303,137,350

304,107,489

303,252,359

295,693,410

310,255,168

303,137,350

293,504,064

Effect of stock options (in shares)

'

'

'

'

'

'

'

'

'

50

1,072

69,408

Weighted Average Shares Outstanding - Diluted

'

310,434,337

310,332,777

310,261,278

309,986,709

303,138,422

304,108,559

303,253,401

295,694,520

310,255,218

303,138,422

293,573,472

Dividends paid per common share (in dollars per share)

'

'

'

'

'

'

'

'

'

$4.65

$4.10

$3.50

Percent taxable as ordinary income

'

'

'

'

'

'

'

'

'

97.50%

99.50%

98.30%

Percent taxable as long-term capital gains

'

'

'

'

'

'

'

'

'

2.50%

0.50%

1.70%

Total percentage of dividends paid

'

'

'

'

'

'

'

'

'

100.00%

100.00%

100.00%

Dividends declared per common share (in dollars per share)

$1.25

'

'

'

'

'

'

'

'

'

'

'

Investment_Properties_Details

Investment Properties (Details) (USD $)	Dec. 31, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Investment Properties	'	'
Land	$3,747,079	$3,736,882
Buildings and improvements	31,026,081	30,187,495
Total land, buildings and improvements	34,773,160	33,924,377
Furniture, fixtures and equipment	353,184	328,144
Investment properties at cost	35,126,344	34,252,521
Less - accumulated depreciation	10,067,743	9,068,388
Investment properties, net	25,058,601	25,184,133
Construction in progress, included above	$364,542	$329,663

Investments_in_Unconsolidated_2

Investments in Unconsolidated Entities (Details) (USD $)

12 Months Ended

12 Months Ended

0 Months Ended

12 Months Ended

1 Months Ended

12 Months Ended

12 Months Ended

12 Months Ended

0 Months Ended

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2012

Dec. 31, 2012

21-May-12

Mar. 14, 2012

Dec. 31, 2012

Jan. 31, 2013

Dec. 31, 2012

Dec. 31, 2012

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Jan. 09, 2012

Dec. 31, 2013

Jan. 09, 2012

Dec. 31, 2013

Construction and other related party loans

Construction and other related party loans

The Shops at Mission Viejo

IMI

Klepierre

Klepierre

IMI Joint Venture

IMI Joint Venture

IMI Joint Venture

IMI Joint Venture

IMI Joint Venture

United States

United States

Japan

Japan

South Korea

South Korea

Mexico

Mexico

Malaysia

Malaysia

Italy

Italy

Europe

Europe

Europe

Woodfield Mall

Woodfield Mall

The Shops at Mission Viejo

The Shops at Mission Viejo

IMI

IMI

property

property

property

property

property

property

property

property

property

property

property

GCI

property

GCI

Klepierre

Woodfield Mall

The Shops at Mission Viejo

property

Schedule of Equity Method Investments

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of properties

'

'

'

'

'

'

'

'

'

'

'

'

'

'

73

78

9

8

3

2

1

1

1

1

'

'

'

'

'

Number of outlets in which interest acquired

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

2

'

5

'

'

Number of properties sold

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

45

'

'

'

Joint venture ownership percentage

'

'

'

'

'

'

'

'

28.70%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

28.90%

Joint venture ownership percentage after transactions

'

'

'

'

'

'

'

28.90%

'

50.00%

'

51.00%

50.00%

49.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Loans to related party

'

'

'

$140,300,000

$25,400,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Joint venture ownership percentage before transaction

'

'

'

'

'

100.00%

100.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Gain due to formation of joint venture

'

'

'

'

'

0

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

28,800,000

'

Aggregate face amount of mortgage notes

'

'

'

'

'

'

'

'

'

425,000,000

295,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Interest rate on mortgage loan (as a percent)

'

'

'

'

'

'

'

'

'

4.50%

3.61%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Distribution from joint venture financing proceeds

$179,054,000

$151,398,000

$112,977,000

'

'

'

'

'

'

'

$149,700,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Investments_in_Unconsolidated_3

Investments in Unconsolidated Entities (Details 2) (USD $)	3 Months Ended	0 Months Ended			0 Months Ended						0 Months Ended
	Dec. 31, 2011	Jan. 06, 2012	Dec. 31, 2013	Sep. 30, 2011	Mar. 22, 2012	Mar. 22, 2012	Mar. 22, 2012	Mar. 22, 2012	Mar. 22, 2012	Mar. 22, 2012	Mar. 22, 2012
	Dissolved Joint Venture Partnership	Del Amo Fashion Center	Consolidated and unconsolidated property interests	Unconsolidated property interests	TMLP 2012 acquisition	TMLP 2012 acquisition	TMLP 2012 acquisition	TMLP 2012 acquisition	TMLP 2012 acquisition	TMLP 2012 acquisition	TMLP 2012 acquisition
			property	property		TMLP Senior Loan Facility	TMLP Trust Preferred Securities	SPG-FCM Loan	Consolidated and unconsolidated property interests	Unconsolidated property interests	Consolidated property interests
									property	property	property
Business acquisition	'	'	'	'	'	'	'	'	'	'	'
Number of properties	'	'	18	9	'	'	'	'	26	16	9
Transaction value	'	'	'	'	$1,500,000,000	'	'	'	'	'	'
Repayment of TMLP senior loan facility	'	'	'	'	'	562,100,000	100,000,000	'	'	'	'
Debt extinguished, noncash	'	'	'	'	'	'	'	558,400,000	'	'	'
Mortgage debt assumed, consolidated	'	'	'	'	2,600,000,000	'	'	'	'	'	'
Gain due to acquisition of controlling interest	'	'	'	'	'	'	'	'	'	'	488,700,000
Gain due to acquisition of controlling interest	168,300,000	'	'	'	'	'	'	'	'	'	'
Other than temporary impairment charge	'	'	'	'	22,400,000	'	'	'	'	'	'
Purchase price of business acquired	'	$50,000,000	'	'	'	'	'	'	'	'	'
Joint venture ownership percentage after transactions	'	50.00%	'	'	'	'	'	'	'	'	'
Joint venture ownership percentage	50.00%	'	'	'	'	'	'	'	'	'	'
Joint venture ownership percentage before transaction	'	25.00%	'	'	'	'	'	'	'	'	'

Investments_in_Unconsolidated_4

Investments in Unconsolidated Entities (Details 3) (USD $)

12 Months Ended

0 Months Ended

12 Months Ended

3 Months Ended

12 Months Ended

10 Months Ended

12 Months Ended

0 Months Ended

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Mar. 14, 2012

Dec. 31, 2013

Jun. 30, 2013

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Mar. 14, 2012

Oct. 16, 2013

Dec. 31, 2013

Oct. 16, 2013

Oct. 16, 2013

Klepierre

McArthurGlen Group

McArthurGlen Group

Europe

Europe

Europe

Europe

Europe

Europe

Europe

Europe

property

Minimum

property

Klepierre

Klepierre

Klepierre

McArthurGlen Group

McArthurGlen Group

McArthurGlen Group

McArthurGlen Group

Item

property

Minimum

Maximum

Schedule of Equity Method Investments

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Shares owned

'

'

'

'

'

'

'

'

57,634,148

'

'

'

'

'

Joint venture ownership percentage

'

'

'

28.70%

'

'

'

'

28.90%

'

'

'

22.50%

90.00%

Quoted market price per share (in dollars per share)

'

'

'

'

'

'

'

'

$46.53

'

'

'

'

'

Excess investment

'

'

'

'

'

'

'

'

'

$1,200,000,000

'

'

'

'

Share of net income, net of amortization of our excess investment

205,259,000

131,907,000

81,238,000

'

'

'

'

500,000

20,700,000

'

'

'

'

'

Total assets

'

'

'

'

'

'

'

17,200,000,000

17,100,000,000

'

'

'

'

'

Total liabilities

'

'

'

'

'

'

'

12,400,000,000

12,300,000,000

'

'

'

'

'

Noncontrolling interests

'

'

'

'

'

'

'

1,900,000,000

1,700,000,000

'

'

'

'

'

Total revenues

'

'

'

'

'

'

'

1,100,000,000

1,500,000,000

'

'

'

'

'

Total operating income

'

'

'

'

'

'

'

394,700,000

989,600,000

'

'

'

'

'

Consolidated net Income

'

'

'

'

'

'

'

323,600,000

317,300,000

'

'

'

'

'

Number of outlets in which interest acquired

'

'

'

'

5

'

5

'

'

'

4

'

'

'

Purchase price of business acquired

'

'

'

2,000,000,000

'

'

'

'

'

'

496,700,000

'

'

'

Equity investment

$2,433,399,000

$2,108,966,000

'

'

'

'

'

'

'

'

'

$510,700,000

'

'

Number of joint ventures to invest in per definitive agreement

'

'

'

'

'

1

'

'

'

'

'

'

'

'

Investments_in_Unconsolidated_5

Investments in Unconsolidated Entities (Details 4) (USD $)	12 Months Ended
In Millions, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012
	property
Cost method investments	'	'
Cost Method Investments	$118.80	$98.90
Europe | Value Retail PLC	'	'
Cost method investments	'	'
Number of luxury outlets owned and operated	9	'
Number of outlets in which the entity has a minority direct ownership	3	'
Cost Method Investments	$115.40	$95.50

Investments_in_Unconsolidated_6

Investments in Unconsolidated Entities (Details 5) (USD $)	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013	Dec. 31, 2012	Jan. 09, 2012	Jan. 09, 2012
			Currency translation and net investment hedges	Currency translation and net investment hedges	Europe	Europe
					GCI	GCI
						Currency translation and net investment hedges
Schedule of Equity Method Investments	'	'	'	'	'	'
Aggregate cash received	'	'	'	'	$375,800,000	'
Gain on sale of equity method investment	'	'	'	'	28,800,000	'
Accumulated losses recorded in AOCI	$75,795,000	$90,900,000	$23,781,000	$26,220,000	'	$39,500,000

Investments_in_Unconsolidated_7

Investments in Unconsolidated Entities (Details 6) (USD $)	Dec. 31, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Schedule of Equity Method Investments	'	'
Equity investment	$2,433,399	$2,108,966
Japan | Mitsubishi Estate Co., Ltd. | Premium Outlet operations	'	'
Schedule of Equity Method Investments	'	'
Joint venture ownership percentage	40.00%	'
Equity investment	261,100	314,200
South Korea | Shinsegae International Co | Premium Outlet operations	'	'
Schedule of Equity Method Investments	'	'
Joint venture ownership percentage	50.00%	'
Equity investment	$76,400	$62,900

Investments_in_Unconsolidated_8

Investments in Unconsolidated Entities (Details 7) (USD $)

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Dec. 31, 2010

Nov. 30, 2013

Nov. 30, 2013

Nov. 30, 2013

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Mar. 22, 2012

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Aventura Mall

Mortgages maturing December 11, 2017

Mortgages maturing December 01, 2020

Mall

Retail properties

Retail properties

Dissolved Joint Venture Partnership

TMLP 2012 acquisition

Equity Method Investments

Equity Method Investments

Equity Method Investments

Aventura Mall

Aventura Mall

property

property

property

Consolidated property interests

Unconsolidated property interests

Unconsolidated property interests

Unconsolidated property interests

property

Maximum

Schedule of Equity Method Investments

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of properties

'

'

'

'

'

'

'

'

'

'

'

9

'

'

'

Number of joint venture interests sold

'

'

'

'

'

'

'

1

3

3

'

'

'

'

'

Joint venture ownership percentage

'

'

'

'

33.00%

'

'

'

'

'

50.00%

'

'

'

'

Assets:

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Investment properties, at cost

$35,126,344,000

$34,252,521,000

'

'

'

'

'

'

'

'

'

'

$15,824,689,000

$14,607,291,000

'

Less - accumulated depreciation

10,067,743,000

9,068,388,000

'

'

'

'

'

'

'

'

'

'

5,294,578,000

4,926,511,000

'

Investment properties, net

25,058,601,000

25,184,133,000

'

'

'

'

'

'

'

'

'

'

10,530,111,000

9,680,780,000

'

Cash and cash equivalents

1,716,863,000

1,184,518,000

798,650,000

796,718,000

'

'

'

'

'

'

'

'

792,751,000

619,546,000

'

Tenant receivables and accrued revenue, net

581,482,000

521,301,000

'

'

'

'

'

'

'

'

'

'

310,320,000

252,774,000

'

Investment in unconsolidated entities, at equity

'

'

'

'

'

'

'

'

'

'

'

'

38,352,000

39,589,000

'

Deferred costs and other assets

1,519,814,000

1,570,734,000

'

'

'

'

'

'

'

'

'

'

586,622,000

438,399,000

'

Total assets

'

'

'

'

'

'

'

'

'

'

'

'

12,258,156,000

11,031,088,000

'

Liabilities and Partners' Deficit:

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Mortgages and unsecured indebtedness

23,588,531,000

23,113,007,000

'

'

'

'

'

'

'

'

'

'

13,024,257,000

11,584,863,000

'

Accounts payable, accrued expenses, intangibles, and deferred revenues

1,374,113,000

1,374,172,000

'

'

'

'

'

'

'

'

'

'

849,107,000

672,483,000

'

Other liabilities

257,222,000

303,588,000

'

'

'

'

'

'

'

'

'

'

514,822,000

447,132,000

'

Total liabilities

26,311,457,000

25,515,511,000

'

'

'

'

'

'

'

'

'

'

14,388,186,000

12,704,478,000

'

Preferred units

'

'

'

'

'

'

'

'

'

'

'

'

67,450,000

67,450,000

'

Partners' deficit

-3,218,686,000

-3,083,190,000

'

'

'

'

'

'

'

'

'

'

-2,197,480,000

-1,740,840,000

'

Total liabilities and equity

33,324,574,000

32,586,606,000

'

'

'

'

'

'

'

'

'

'

12,258,156,000

11,031,088,000

'

Our Share of:

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Partners' deficit

'

'

'

'

'

'

'

'

'

'

'

'

-717,776,000

-799,911,000

'

Add: Excess Investment

'

'

'

'

'

'

'

'

'

'

'

'

2,059,584,000

2,184,133,000

'

Our net Investment in unconsolidated entities, at equity

2,433,399,000

2,108,966,000

'

'

'

'

'

'

'

'

'

'

1,341,808,000

1,384,222,000

'

Life of joint ventures with excess investment

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'40 years

Debt Maturity and Other

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

2014

2,072,529,000

'

'

'

'

'

'

'

'

'

'

'

1,103,850,000

'

'

2015

1,972,833,000

'

'

'

'

'

'

'

'

'

'

'

2,090,963,000

'

'

2016

5,005,080,000

'

'

'

'

'

'

'

'

'

'

'

1,304,721,000

'

'

2017

3,594,748,000

'

'

'

'

'

'

'

'

'

'

'

866,378,000

'

'

2018

2,031,818,000

'

'

'

'

'

'

'

'

'

'

'

736,078,000

'

'

Thereafter

8,886,074,000

'

'

'

'

'

'

'

'

'

'

'

6,917,266,000

'

'

Total principal maturities

23,563,082,000

'

'

'

'

'

'

'

'

'

'

'

13,019,256,000

'

'

Net unamortized debt premiums and discounts

25,449,000

'

'

'

'

'

'

'

'

'

'

'

5,001,000

'

'

Total mortgages and other indebtedness

23,588,531,000

23,113,007,000

'

'

'

'

'

'

'

'

'

'

13,024,257,000

11,584,863,000

'

Interest rate, low end of range (as a percent)

'

'

'

'

'

'

'

'

'

'

'

'

0.46%

'

'

Interest rate, high end of range (as a percent)

'

'

'

'

'

'

'

'

'

'

'

'

9.35%

'

'

Weighted average interest rate (as a percent)

'

'

'

'

'

'

'

'

'

'

'

'

4.60%

'

'

Debt refinanced

'

'

'

'

'

430,000,000

'

'

'

'

'

'

'

'

'

Debt issued to refinance previous mortgage

'

'

'

'

'

'

1,200,000,000

'

'

'

'

'

'

'

'

Fixed interest rate before reduction (as a percent)

'

'

'

'

5.91%

'

'

'

'

'

'

'

'

'

'

Fixed interest rate (as a percent)

'

'

'

'

3.75%

'

'

'

'

'

'

'

'

'

'

Extinguishment charge

'

'

'

'

$82,800,000

'

'

'

'

'

'

'

'

'

'

Investments_in_Unconsolidated_9

Investments in Unconsolidated Entities (Details 8) (USD $)

3 Months Ended

12 Months Ended

1 Months Ended

12 Months Ended

1 Months Ended

12 Months Ended

Dec. 31, 2013

Sep. 30, 2013

Jun. 30, 2013

Mar. 31, 2013

Dec. 31, 2012

Sep. 30, 2012

Jun. 30, 2012

Mar. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Aug. 31, 2012

Dec. 31, 2013

Apr. 30, 2011

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Retail properties

Retail properties

Mall

Non-core retail property and Mall

Equity Method Investments

Equity Method Investments

Equity Method Investments

property

property

Unconsolidated property interests

Unconsolidated property interests

Unconsolidated property interests

Revenue:

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Minimum rent

'

'

'

'

'

'

'

'

$3,201,958,000

$3,015,866,000

$2,664,724,000

'

'

'

'

$1,666,886,000

$1,487,554,000

$1,424,038,000

Overage rent

'

'

'

'

'

'

'

'

223,473,000

195,726,000

140,842,000

'

'

'

'

180,772,000

176,609,000

140,822,000

Tenant reimbursements

'

'

'

'

'

'

'

'

1,442,907,000

1,340,307,000

1,177,269,000

'

'

'

'

765,357,000

691,564,000

660,354,000

Other income

'

'

'

'

'

'

'

'

174,828,000

199,819,000

195,587,000

'

'

'

'

200,104,000

171,698,000

150,949,000

Total revenue

1,416,260,000

1,302,256,000

1,236,563,000

1,215,058,000

1,344,431,000

1,228,617,000

1,188,066,000

1,118,969,000

5,170,138,000

4,880,084,000

4,306,432,000

'

'

'

'

2,813,119,000

2,527,425,000

2,376,163,000

Operating Expenses:

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Property operating

'

'

'

'

'

'

'

'

475,133,000

469,755,000

436,571,000

'

'

'

'

498,485,000

477,338,000

460,235,000

Depreciation and amortization

'

'

'

'

'

'

'

'

1,290,528,000

1,257,569,000

1,065,946,000

'

'

'

'

528,317,000

508,083,000

487,057,000

Real estate taxes

'

'

'

'

'

'

'

'

444,899,000

419,267,000

369,755,000

'

'

'

'

212,667,000

178,739,000

167,608,000

Repairs and maintenance

'

'

'

'

'

'

'

'

120,803,000

116,168,000

113,496,000

'

'

'

'

69,116,000

65,163,000

64,271,000

Advertising and promotion

'

'

'

'

'

'

'

'

126,210,000

118,790,000

107,002,000

'

'

'

'

62,339,000

55,175,000

50,653,000

Provision for credit losses

'

'

'

'

'

'

'

'

7,737,000

12,809,000

6,505,000

'

'

'

'

1,287,000

1,824,000

4,496,000

Other

'

'

'

'

'

'

'

'

88,405,000

90,482,000

89,066,000

'

'

'

'

156,115,000

170,510,000

148,110,000

Total operating expenses

'

'

'

'

'

'

'

'

2,754,449,000

2,659,484,000

2,363,278,000

'

'

'

'

1,528,326,000

1,456,832,000

1,382,430,000

OPERATING INCOME

692,546,000

600,565,000

564,890,000

557,689,000

614,598,000

564,953,000

524,327,000

516,721,000

2,415,689,000

2,220,600,000

1,943,154,000

'

'

'

'

1,284,793,000

1,070,593,000

993,733,000

Interest expense

'

'

'

'

'

'

'

'

-1,137,139,000

-1,127,025,000

-983,526,000

'

'

'

'

-694,904,000

-599,400,000

-593,408,000

Income from Continuing Operations

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

589,889,000

471,193,000

400,325,000

Gain (loss) from operations of discontinued joint venture interests

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

46,000

-20,311,000

-57,961,000

Gain (loss) on disposal of discontinued operations, net

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

51,164,000

-5,354,000

347,640,000

Net Income

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

641,099,000

445,528,000

690,004,000

Third-Party Investors' Share of Net Income

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

353,708,000

239,931,000

384,384,000

Our Share of Net Income

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

287,391,000

205,597,000

305,620,000

Amortization of Excess Investment

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

-102,875,000

-83,400,000

-50,562,000

Our Share of Loss (Gain) on Sale or Disposal of Assets and Interests in Unconsolidated Entities, net

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

9,245,000

-173,820,000

Income from Unconsolidated Entities

'

'

'

'

'

'

'

'

205,259,000

131,907,000

81,238,000

'

'

'

'

184,516,000

131,442,000

81,238,000

Number of properties disposed of during the period

'

'

'

'

'

'

'

'

'

'

'

3

3

'

'

'

'

'

Gain (loss) on disposition

'

'

'

'

'

'

'

'

'

'

'

'

$0

$7,800,000

($9,200,000)

'

'

'

Indebtedness_and_Derivative_Fi2

Indebtedness and Derivative Financial Instruments (Details)

Dec. 31, 2013

Dec. 31, 2012

Jan. 02, 2014

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Oct. 02, 2013

Oct. 02, 2013

Jan. 21, 2014

Jan. 21, 2014

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Dec. 30, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

USD ($)

USD ($)

Secured Debt

Secured Debt

Secured Debt

Unsecured Debt

Unsecured Debt

Unsecured Debt

Unsecured Debt

Unsecured Debt

Unsecured Debt

Unsecured Debt

Unsecured Debt

Unsecured Debt

Unsecured Debt

Unsecured Debt

Unsecured Debt

Unsecured Debt

Unsecured Debt

Mortgages

Mortgages

Mortgages

Senior unsecured notes

Senior unsecured notes

Senior unsecured notes 5.30% to 7.18%

Senior unsecured notes 2.375% due October 2020

Senior unsecured notes 2.375% due October 2020

Senior unsecured notes 2.20% due February 2019

Senior unsecured notes 3.75% due February 2024

Credit Facility and the Supplemental Facility

Credit Facility and the Supplemental Facility

Credit Facility

Credit Facility

Credit Facility

Supplemental Facility

Term loan

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

Operating Partnership

Operating Partnership

Operating Partnership

Operating Partnership

USD ($)

USD ($)

USD ($)

USD ($)

Euro

USD ($)

USD ($)

note

USD ($)

EUR (€)

USD ($)

USD ($)

Item

USD ($)

Item

mortgagepool

property

Fixed-Rate Debt:

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Fixed-rate mortgages and other indebtedness

$21,826,232,000

$21,077,358,000

'

$7,894,527,000

$7,677,204,000

$13,931,705,000

$13,400,154,000

'

'

'

'

'

'

'

'

'

'

'

'

Weighted-average interest rate, fixed-rate debt (as a percent)

'

'

'

5.62%

'

4.87%

'

'

'

'

'

'

'

'

'

'

'

'

'

Net premiums

'

'

'

63,968,000

101,104,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Net discount

'

'

'

'

'

38,519,000

38,847,000

'

'

'

'

'

'

'

'

'

'

'

'

Weighted average maturity period, fixed-rate debt

'

'

'

'4 years 2 months 12 days

'

'6 years 4 months 24 days

'

'

'

'

'

'

'

'

'

'

'

'

'

Variable-Rate Debt:

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Variable-rate mortgages and other indebtedness

1,762,299,000

2,035,649,000

'

350,000,000

442,152,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Credit facility, amount outstanding

'

'

'

'

'

'

'

'

'

'

'

'

1,172,299,000

1,593,497,000

960,100,000

'

'

212,200,000

'

Weighted average interest rate, variable-rate debt (as a percent)

'

'

'

1.52%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Weighted average maturity period, variable-rate debt

'

'

'

'3 years 8 months 12 days

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Total mortgages and other indebtedness

23,588,531,000

23,113,007,000

'

8,200,000,000

8,000,000,000

13,900,000,000

'

'

'

'

'

'

'

'

'

'

660,100,000

'

240,000,000

Number of non-recourse mortgage notes under which the Company and subsidiaries are borrowers

'

'

'

80

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of properties secured by non-recourse mortgage notes

'

'

'

80

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of cross-defaulted and cross-collateralized mortgage pools

'

'

'

7

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Total number of properties pledged as collateral for cross defaulted and cross collateralized mortgages

'

'

'

27

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Maximum borrowing capacity

'

'

'

'

'

'

'

'

'

'

'

'

'

'

4,000,000,000

'

'

2,000,000,000

300,000,000

Available borrowing capacity

'

'

'

'

'

'

'

'

'

'

'

'

4,800,000,000

'

'

'

'

'

'

Maximum amount outstanding during period

'

'

'

'

'

'

'

'

'

'

'

'

1,600,000,000

'

'

'

'

'

'

Credit facility, weighted average amount outstanding

'

'

'

'

'

'

'

'

'

'

'

'

1,300,000,000

'

'

'

'

'

'

Letters of credit outstanding

'

'

'

'

'

'

'

'

'

'

'

'

41,900,000

'

'

'

'

'

'

Number of credit facilities

'

'

'

'

'

'

'

'

'

'

'

'

2

'

'

'

'

'

'

Optional expanded maximum borrowing capacity

'

'

'

'

'

'

'

'

'

'

'

'

'

'

5,000,000,000

'

'

2,500,000,000

'

Reference rate

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'LIBOR

'

'

'LIBOR

'LIBOR

Interest added to reference rate (as a percent)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

0.95%

'

'

0.95%

1.10%

Additional facility fee (as a percent)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

0.15%

'

'

0.15%

'

Reduction in interest added to reference rate (as a percent)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

0.05%

'

'

0.05%

'

Multi-currency tranche

'

'

'

'

'

'

'

'

'

'

'

'

'

'

2,000,000,000

'

'

'

'

Amount of debt redeemed

'

'

'

240,000,000

'

'

'

504,500,000

'

'

'

'

'

'

'

'

'

'

'

Interest rate, low end of range (as a percent)

'

'

'

'

'

'

'

5.30%

'

'

'

'

'

'

'

'

'

'

'

Interest rate, high end of range (as a percent)

'

'

'

'

'

'

'

7.18%

'

'

'

'

'

'

'

'

'

'

'

Number of one-year extension options available

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

2

Debt instrument extension period

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'1 year

Debt issued

'

'

'

370,000,000

'

'

'

'

1,000,000,000

750,000,000

600,000,000

600,000,000

'

'

'

300,000,000

'

'

'

Interest rate on debt (as a percent)

'

'

'

'

'

'

'

'

2.38%

2.38%

2.20%

3.75%

'

'

'

'

'

'

'

Average interest rate (as a percent)

'

'

'

4.04%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Debt repaid

'

'

$820,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Indebtedness_and_Derivative_Fi3

Indebtedness and Derivative Financial Instruments (Details 2) (USD $)	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Debt Maturity and Other	'	'	'
2014	$2,072,529,000	'	'
2015	1,972,833,000	'	'
2016	5,005,080,000	'	'
2017	3,594,748,000	'	'
2018	2,031,818,000	'	'
Thereafter	8,886,074,000	'	'
Total principal maturities	23,563,082,000	'	'
Net unamortized debt premiums	25,449,000	'	'
Total mortgages and other indebtedness	23,588,531,000	23,113,007,000	'
Cash paid for interest	1,142,201,000	1,122,223,000	979,436,000
Derivative financial instruments	'	'	'
Unamortized loss of benefits from treasury and interest rate hedge agreements	67,500,000	78,000,000	'
Amount expected to be reclassified from accumulated other comprehensive loss to earnings within the next year	10,400,000	'	'
Fair value of debt	'	'	'
Carrying value of fixed-rate mortgages and unsecured indebtedness	21,800,000,000	21,000,000,000	'
Fair value of fixed-rate mortgages and unsecured indebtedness	23,297,000,000	23,373,000,000	'
Weighted average discount rates assumed in calculation of fair value for fixed-rate mortgages (as a percent)	3.07%	3.24%	'
Interest rate swap	'	'	'
Derivative financial instruments	'	'	'
Notional Amount	491,600,000	'	'
Fixed rate swap agreements, weighted average fixed pay rate (as a percent)	3.13%	'	'
Fixed rate swap agreements, weighted average variable receive rate (as a percent)	2.00%	'	'
Interest rate cap	'	'	'
Derivative financial instruments	'	'	'
Notional Amount	$248,300,000	'	'

Rentals_under_Operating_Leases2

Rentals under Operating Leases (Details) (USD $)	Dec. 31, 2013
In Thousands, unless otherwise specified
Future minimum rentals to be received under noncancelable tenant operating leases	'
2014	$2,774,293
2015	2,507,650
2016	2,228,505
2017	1,943,459
2018	1,618,167
Thereafter	4,614,730
Future minimum rental receivables	$15,686,804

Equity_Details

Equity (Details)	12 Months Ended			12 Months Ended
	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013
		Common Stock	Employee Options	Partnership agreement of Operating Partnership	Class B common stock	Class B common stock	Class B common stock
		Item		Item	Item		Maximum
							Item
Equity	'	'	'	'	'	'	'
Minimum number of additional classes or series of common stock that the Board is authorized to reclassify from excess common stock	1	'	'	'	'	'	'
Equity	'	'	'	'	'	'	'
Number of votes entitled per share to holders of common stock	'	1	'	'	'	'	'
Number of members of board of directors elected under entitlement of right	'	'	'	'	'	'	4
Common stock, shares outstanding	'	'	'	'	8,000	8,000	'
Number of voting trusts which are subject to outstanding shares common stock	'	'	'	'	2	'	'
Common stock, shares issued	'	'	1,567	596,051	8,000	8,000	'
The number of limited partners who received common stock in exchange for an equal number of units, during the period.	'	'	'	11	'	'	'

Equity_Details_2

Equity (Details 2) (USD $)	12 Months Ended		0 Months Ended			12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 04, 2012	Jan. 10, 2014	Jan. 10, 2014	Dec. 31, 2013	Dec. 31, 2012
			Consolidated properties	Portfolio of ten properties	Portfolio of ten properties	7.5% Cumulative Redeemable Preferred Units	7.5% Cumulative Redeemable Preferred Units
			property	property	Consolidated properties
				Item	property
Redeemable preferred stock	'	'	'	'	'	'	'
Number of partner's interest acquired	'	'	'	1	'	'	'
Number of properties contained in a portfolio	'	'	2	10	7	'	'
Consideration transferred for partner's interests acquired	'	'	'	$113,300,000	'	'	'
Temporary equity stated dividend rate percentage	'	'	'	'	'	7.50%	7.50%
Other noncontrolling redeemable interests in properties	164,948,000	152,469,000	'	'	'	'	'
Limited partners' preferred interest in the Operating Partnership and other noncontrolling redeemable interests in properties	190,485,000	178,006,000	'	'	'	'	'
Temporary equity, shares authorized	'	'	'	'	'	260,000	260,000
Temporary equity, shares issued	'	'	'	'	'	255,373	255,373
Temporary equity, shares outstanding	'	'	'	'	'	255,373	255,373
Limited partners' preferred interest in the Operating Partnership	'	'	'	'	'	25,537,000	25,537,000
Cumulative quarterly distributions on preferred units (in dollars per share)	'	'	'	'	'	$7.50	'
Temporary equity redemption price (in dollars per share)	'	'	'	'	'	$100	'
Liquidation preference (in dollars per share)	'	'	'	'	'	$100	'
Number of Series of Units Classified Into Temporary Equity	1	'	'	'	'	'	'
Noncontrolling interests redeemable at amounts in excess of fair value	$0	'	'	'	'	'	'

Equity_Details_3

Equity (Details 3) (Series J 8 3/8% Cumulative Redeemable Preferred Stock, USD $)	12 Months Ended
In Millions, except Per Share data, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012
Series J 8 3/8% Cumulative Redeemable Preferred Stock	'	'
Equity	'	'
Preferred stock stated dividend rate percentage	8.38%	8.38%
Redemption price of preferred stock (in dollars per share)	$50	'
Premium received on preferred stock issued	$7.50	'
Preferred stock unamortized premium	$4.50	$4.90

Equity_Details_4

Equity (Details 4) (USD $)

12 Months Ended

1 Months Ended

12 Months Ended

12 Months Ended

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Dec. 31, 2013

Jul. 31, 2011

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Item

Restricted stock

Restricted stock

Restricted stock

Restricted stock

LTIP Retention Award to Chairman and CEO

LTIP Retention Award to Chairman and CEO

LTIP Retention Award to Chairman and CEO

LTIP Retention Award to Chairman and CEO

Employee Options

1998 Stock Incentive Plan

LTIP programs

LTIP programs

LTIP programs

One-year 2010 LTIP Program

Two-year 2010 LTIP Program

Three-year 2010 LTIP Program

2011-2013 LTIP Program

2012-2014 LTIP Program

2013-2015 LTIP program

Automatic Awards for Eligible Directors

A Units

B Units

C Units

Maximum

Maximum

Maximum

Stock-based incentive plan awards

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Shares reserved for issuance (in shares)

'

'

'

'

'

'

'

'

'

'

'

'

17,300,000

'

'

'

'

'

'

'

'

'

Vesting period

'

'

'

'3 years

'

'

'1 year

'

'

'

'

'3 years

'

'2 years

'

'

'

'

'

'

'

'

Expiration period

'

'

'

'

'

'

'

'

'

'

'

'10 years

'

'

'

'

'

'

'

'

'

'

Value of restricted shares awarded to directors on initial election

'

'

'

'

'

'

$82,500

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Value of restricted shares awarded to director on re-election

'

'

'

'

'

'

82,500

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Value of additional restricted shares awarded to director serving as the chairperson of the Audit and Compensation Committees

'

'

'

'

'

'

10,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Value of additional restricted shares awarded to a director serving as chairperson of a Governance and Nominating Committees

'

'

'

'

'

'

7,500

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Value of additional restricted shares awarded to the Lead Director

'

'

'

'

'

'

12,500

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Vesting rights percentage

'

'

'

'

'

'

'

'

'

'

'

'

'

50.00%

'

'

'

'

'

'

'

'

Compensation expense, net of capitalization

'

'

'

12,700,000

9,800,000

9,700,000

'

'

'

'

'

'

'

25,700,000

22,000,000

16,500,000

'

'

'

'

'

'

Percent of distributions of Operating Partnership that participants are entitled to receive during performance period

'

'

'

'

'

'

'

'

'

'

'

'

'

10.00%

'

'

'

'

'

'

'

'

Performance period

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'1 year

'2 years

'3 years

'

'

'

Service period

'

'

'

'

'

'

'

'8 years

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Aggregate grant date fair value

'

'

'

'

'

'

'

120,300,000

'

'

'

'

'

'

'

'

7,200,000

14,800,000

23,000,000

35,000,000

35,000,000

33,500,000

Notes Receivable from Former CPI Stockholders

15,300,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Award of restricted stock to employees (in shares)

'

'

'

'

'

'

'

1,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Units earned under LTIP program (in shares)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

133,673

337,006

489,654

469,848

'

'

Units to be earned under LTIP program (in shares)

'

'

'

'

'

'

'

'

360,000

360,000

280,000

'

'

'

'

'

'

'

'

'

'

'

Total number of shares awarded, net of forfeiture

'

'

'

5,447,436

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Shares of restricted stock awarded during the year, net of forfeitures

'

'

'

107,123

114,066

116,885

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Weighted average fair value of shares granted during the year (in dollars per share)

'

'

'

$160.20

$146.70

$110.12

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Amortization expense

'

'

'

$18,311,000

$14,001,000

$14,018,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Exercised (in shares)

1,567

712

324,720

'

'

'

'

'

'

'

'

1,567

'

'

'

'

'

'

'

'

'

'

Exercised (in dollars per share)

'

'

'

'

'

'

'

'

'

'

'

$50.17

'

'

'

'

'

'

'

'

'

'

Options outstanding (in shares)

'

'

'

'

'

'

'

'

'

'

'

0

'

'

'

'

'

'

'

'

'

'

Exchange Rights

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Limited partners units, exchange ratio

1

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Common stock reserved for possible conversion (in shares)

57,274,430

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Commitments_and_Contingencies_1

Commitments and Contingencies (Details) (USD $)	1 Months Ended	12 Months Ended
	31-May-10	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
		property	Ground	Ground	Ground	Office	Office	Office
Commitments and Contingencies.	'	'	'	'	'	'	'	'
Insurance proceeds funded by insurers	$50,000,000	'	'	'	'	'	'	'
Minimum insurance coverage	50,000,000	'	'	'	'	'	'	'
Additional insurance proceeds	150,000,000	'	'	'	'	'	'	'
Lease Commitments	'	'	'	'	'	'	'	'
Properties subject to ground leases	'	28	'	'	'	'	'	'
Lease Commitments	'	'	'	'	'	'	'	'
Lease expense	'	'	40,042,000	43,421,000	42,284,000	4,057,000	2,004,000	2,047,000
Future minimum lease payments due under ground leases	'	'	'	'	'	'	'	'
2014	'	25,974,000	'	'	'	'	'	'
2015	'	30,991,000	'	'	'	'	'	'
2016	'	36,851,000	'	'	'	'	'	'
2017	'	36,863,000	'	'	'	'	'	'
2018	'	36,818,000	'	'	'	'	'	'
Thereafter	'	1,012,997,000	'	'	'	'	'	'
Total	'	1,180,494,000	'	'	'	'	'	'
Insurance	'	'	'	'	'	'	'	'
Insurance coverage, acts of terrorism	'	$1,000,000,000	'	'	'	'	'	'

Commitments_and_Contingencies_2

Commitments and Contingencies (Details 2) (USD $)	Dec. 31, 2013	Dec. 31, 2012
In Millions, unless otherwise specified
Limited Life Partnerships	'	'
Approximate settlement values of noncontrolling interest	$125	$143
Joint Venture Mortgage and Indebtedness	'	'
Guarantees of Joint Venture Indebtedness:	'	'
Loan guarantee	190.8	84.9
Loan guarantees recoverable	$83	$38.60

Commitments_and_Contingencies_3

Commitments and Contingencies (Details 3) (Consolidated revenues, Concentration of credit risk, Maximum)	12 Months Ended
	Dec. 31, 2013
Consolidated revenues | Concentration of credit risk | Maximum	'
Concentration of Credit Risk	'
Percentage of consolidated revenues from a single customer or tenant	5.00%

Related_Party_Transactions_Det

Related Party Transactions (Details) (USD $)	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Development, royalty and other fees	'	'	'
Related party transactions	'	'	'
Amounts charged to related party	$14,000,000	$15,500,000	$12,300,000
Fees for financing activities	'	'	'
Related party transactions	'	'	'
Amounts charged to related party	15,900,000	3,000,000	1,800,000
Unconsolidated joint ventures | Amounts for services provided	'	'	'
Related party transactions	'	'	'
Amounts charged to related party	121,996,000	119,534,000	125,306,000
Properties owned by related parties | Amounts for services provided	'	'	'
Related party transactions	'	'	'
Amounts charged to related party	4,510,000	4,416,000	4,353,000
TMLP and SPG-FCM	'	'	'
Related party transactions	'	'	'
Interest income from TMLP and SPG-FCM, net of inter-entity eliminations	'	$2,000,000	$9,800,000

Quarterly_Financial_Data_Unaud2

Quarterly Financial Data (Unaudited) (Details) (USD $)	3 Months Ended								12 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Quarterly Financial Data (Unaudited)	'	'	'	'	'	'	'	'	'	'	'
Total revenue	$1,416,260	$1,302,256	$1,236,563	$1,215,058	$1,344,431	$1,228,617	$1,188,066	$1,118,969	$5,170,138	$4,880,084	$4,306,432
Operating Income	692,546	600,565	564,890	557,689	614,598	564,953	524,327	516,721	2,415,689	2,220,600	1,943,154
Consolidated net income	449,304	367,293	400,525	334,468	370,496	306,371	260,936	781,829	1,551,590	1,719,632	1,245,900
Net income attributable to common stockholders	$381,555	$311,675	$339,936	$283,138	$315,383	$254,921	$215,445	$645,410	$1,316,304	$1,431,159	$1,021,462
Net income (loss) per share - Basic	$1.23	$1	$1.10	$0.91	$1.01	$0.84	$0.71	$2.18	$4.24	$4.72	$3.48
Net income (loss) per share - Diluted	$1.23	$1	$1.10	$0.91	$1.01	$0.84	$0.71	$2.18	$4.24	$4.72	$3.48
Weighted average shares outstanding (in shares)	310,434,337	310,332,777	310,261,278	309,986,506	303,137,350	304,107,489	303,252,359	295,693,410	310,255,168	303,137,350	293,504,064
Diluted weighted average shares outstanding (in shares)	310,434,337	310,332,777	310,261,278	309,986,709	303,138,422	304,108,559	303,253,401	295,694,520	310,255,218	303,138,422	293,573,472

Schedule_III_Real_Estate_and_A1

Schedule III Real Estate and Accumulated Depreciation (Details) (USD $)	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
In Thousands, unless otherwise specified
Real Estate and Accumulated Depreciation	'	'	'	'
Encumbrances as of Year End	$8,180,559	'	'	'
Initial Cost	'	'	'	'
Land	3,440,260	'	'	'
Buildings and Improvements	24,945,911	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Land	306,819	'	'	'
Buildings and Improvements	6,080,170	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	3,747,079	'	'	'
Buildings and Improvements	31,026,081	'	'	'
Total	34,773,160	33,924,377	29,333,330	27,192,223
Accumulated Depreciation	9,817,090	8,836,695	8,148,170	7,485,821
Malls | Anderson Mall, Anderson, SC	'	'	'	'
Real Estate and Accumulated Depreciation	'	'	'	'
Encumbrances as of Year End	20,398	'	'	'
Initial Cost	'	'	'	'
Land	1,712	'	'	'
Buildings and Improvements	15,227	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Land	851	'	'	'
Buildings and Improvements	20,893	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	2,563	'	'	'
Buildings and Improvements	36,120	'	'	'
Total	38,683	'	'	'
Accumulated Depreciation	18,074	'	'	'
Malls | Bangor Mall, Bangor, ME	'	'	'	'
Real Estate and Accumulated Depreciation	'	'	'	'
Encumbrances as of Year End	80,000	'	'	'
Initial Cost	'	'	'	'
Land	5,478	'	'	'
Buildings and Improvements	59,740	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	12,068	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	5,478	'	'	'
Buildings and Improvements	71,808	'	'	'
Total	77,286	'	'	'
Accumulated Depreciation	29,938	'	'	'
Malls | Barton Creek Square, Austin, TX	'	'	'	'
Initial Cost	'	'	'	'
Land	2,903	'	'	'
Buildings and Improvements	20,929	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Land	7,983	'	'	'
Buildings and Improvements	63,969	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	10,886	'	'	'
Buildings and Improvements	84,898	'	'	'
Total	95,784	'	'	'
Accumulated Depreciation	51,860	'	'	'
Malls | Battlefield Mall, Springfield, MO	'	'	'	'
Real Estate and Accumulated Depreciation	'	'	'	'
Encumbrances as of Year End	125,000	'	'	'
Initial Cost	'	'	'	'
Land	3,919	'	'	'
Buildings and Improvements	27,231	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Land	3,000	'	'	'
Buildings and Improvements	64,059	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	6,919	'	'	'
Buildings and Improvements	91,290	'	'	'
Total	98,209	'	'	'
Accumulated Depreciation	60,631	'	'	'
Malls | Bay Park Square, Green Bay, WI	'	'	'	'
Initial Cost	'	'	'	'
Land	6,358	'	'	'
Buildings and Improvements	25,623	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Land	4,106	'	'	'
Buildings and Improvements	26,331	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	10,464	'	'	'
Buildings and Improvements	51,954	'	'	'
Total	62,418	'	'	'
Accumulated Depreciation	26,730	'	'	'
Malls | Bowie Town Center, Bowie (Washington, D.C.), MD	'	'	'	'
Initial Cost	'	'	'	'
Land	2,710	'	'	'
Buildings and Improvements	65,044	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Land	235	'	'	'
Buildings and Improvements	10,851	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	2,945	'	'	'
Buildings and Improvements	75,895	'	'	'
Total	78,840	'	'	'
Accumulated Depreciation	31,339	'	'	'
Malls | Boynton Beach Mall, Boynton Beach (Miami), FL	'	'	'	'
Initial Cost	'	'	'	'
Land	22,240	'	'	'
Buildings and Improvements	78,804	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Land	4,666	'	'	'
Buildings and Improvements	27,315	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	26,906	'	'	'
Buildings and Improvements	106,119	'	'	'
Total	133,025	'	'	'
Accumulated Depreciation	53,062	'	'	'
Malls | Brea Mall, Brea (Los Angeles), CA	'	'	'	'
Initial Cost	'	'	'	'
Land	39,500	'	'	'
Buildings and Improvements	209,202	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	42,967	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	39,500	'	'	'
Buildings and Improvements	252,169	'	'	'
Total	291,669	'	'	'
Accumulated Depreciation	104,653	'	'	'
Malls | Broadway Square, Tyler, TX	'	'	'	'
Initial Cost	'	'	'	'
Land	11,306	'	'	'
Buildings and Improvements	32,431	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	23,763	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	11,306	'	'	'
Buildings and Improvements	56,194	'	'	'
Total	67,500	'	'	'
Accumulated Depreciation	29,351	'	'	'
Malls | Brunswick Square, East Brunswick (New York), NJ	'	'	'	'
Real Estate and Accumulated Depreciation	'	'	'	'
Encumbrances as of Year End	76,672	'	'	'
Initial Cost	'	'	'	'
Land	8,436	'	'	'
Buildings and Improvements	55,838	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	30,694	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	8,436	'	'	'
Buildings and Improvements	86,532	'	'	'
Total	94,968	'	'	'
Accumulated Depreciation	44,430	'	'	'
Malls | Burlington Mall, Burlington (Boston), MA	'	'	'	'
Initial Cost	'	'	'	'
Land	46,600	'	'	'
Buildings and Improvements	303,618	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Land	19,600	'	'	'
Buildings and Improvements	97,860	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	66,200	'	'	'
Buildings and Improvements	401,478	'	'	'
Total	467,678	'	'	'
Accumulated Depreciation	160,319	'	'	'
Malls | Castleton Square, Indianapolis, IN	'	'	'	'
Initial Cost	'	'	'	'
Land	26,250	'	'	'
Buildings and Improvements	98,287	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Land	7,434	'	'	'
Buildings and Improvements	75,407	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	33,684	'	'	'
Buildings and Improvements	173,694	'	'	'
Total	207,378	'	'	'
Accumulated Depreciation	83,383	'	'	'
Malls | Charlottesville Fashion Square, Charlottesville, VA	'	'	'	'
Initial Cost	'	'	'	'
Buildings and Improvements	54,738	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	17,948	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Buildings and Improvements	72,686	'	'	'
Total	72,686	'	'	'
Accumulated Depreciation	32,683	'	'	'
Malls | Chautauqua Mall, Lakewood, NY	'	'	'	'
Initial Cost	'	'	'	'
Land	3,116	'	'	'
Buildings and Improvements	9,641	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	16,435	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	3,116	'	'	'
Buildings and Improvements	26,076	'	'	'
Total	29,192	'	'	'
Accumulated Depreciation	14,185	'	'	'
Malls | Chesapeake Square, Chesapeake (Virginia Beach), VA	'	'	'	'
Real Estate and Accumulated Depreciation	'	'	'	'
Encumbrances as of Year End	65,242	'	'	'
Initial Cost	'	'	'	'
Land	11,534	'	'	'
Buildings and Improvements	70,461	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	19,489	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	11,534	'	'	'
Buildings and Improvements	89,950	'	'	'
Total	101,484	'	'	'
Accumulated Depreciation	53,113	'	'	'
Malls | Cielo Vista Mall, El Paso, TX	'	'	'	'
Initial Cost	'	'	'	'
Land	1,005	'	'	'
Buildings and Improvements	15,262	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Land	608	'	'	'
Buildings and Improvements	49,967	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	1,613	'	'	'
Buildings and Improvements	65,229	'	'	'
Total	66,842	'	'	'
Accumulated Depreciation	38,467	'	'	'
Malls | College Mall, Bloomington, IN	'	'	'	'
Initial Cost	'	'	'	'
Land	1,003	'	'	'
Buildings and Improvements	16,245	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Land	720	'	'	'
Buildings and Improvements	45,306	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	1,723	'	'	'
Buildings and Improvements	61,551	'	'	'
Total	63,274	'	'	'
Accumulated Depreciation	33,597	'	'	'
Malls | Columbia Center, Kennewick, WA	'	'	'	'
Initial Cost	'	'	'	'
Land	17,441	'	'	'
Buildings and Improvements	66,580	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	26,566	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	17,441	'	'	'
Buildings and Improvements	93,146	'	'	'
Total	110,587	'	'	'
Accumulated Depreciation	43,792	'	'	'
Malls | Copley Place, Boston, MA	'	'	'	'
Initial Cost	'	'	'	'
Buildings and Improvements	378,045	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	108,659	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Buildings and Improvements	486,704	'	'	'
Total	486,704	'	'	'
Accumulated Depreciation	167,391	'	'	'
Malls | Coral Square, Coral Springs (Miami), FL	'	'	'	'
Initial Cost	'	'	'	'
Land	13,556	'	'	'
Buildings and Improvements	93,630	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	21,501	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	13,556	'	'	'
Buildings and Improvements	115,131	'	'	'
Total	128,687	'	'	'
Accumulated Depreciation	68,808	'	'	'
Malls | Cordova Mall, Pensacola, FL	'	'	'	'
Initial Cost	'	'	'	'
Land	18,626	'	'	'
Buildings and Improvements	73,091	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Land	7,321	'	'	'
Buildings and Improvements	61,890	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	25,947	'	'	'
Buildings and Improvements	134,981	'	'	'
Total	160,928	'	'	'
Accumulated Depreciation	49,889	'	'	'
Malls | Cottonwood Mall, Albuquerque, NM	'	'	'	'
Initial Cost	'	'	'	'
Land	10,122	'	'	'
Buildings and Improvements	69,958	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	7,542	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	10,122	'	'	'
Buildings and Improvements	77,500	'	'	'
Total	87,622	'	'	'
Accumulated Depreciation	42,020	'	'	'
Malls | Domain, The, Austin, TX	'	'	'	'
Real Estate and Accumulated Depreciation	'	'	'	'
Encumbrances as of Year End	201,511	'	'	'
Initial Cost	'	'	'	'
Land	40,436	'	'	'
Buildings and Improvements	197,010	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	139,129	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	40,436	'	'	'
Buildings and Improvements	336,139	'	'	'
Total	376,575	'	'	'
Accumulated Depreciation	81,659	'	'	'
Malls | Edison Mall, Fort Myers, FL	'	'	'	'
Initial Cost	'	'	'	'
Land	11,529	'	'	'
Buildings and Improvements	107,350	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	31,772	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	11,529	'	'	'
Buildings and Improvements	139,122	'	'	'
Total	150,651	'	'	'
Accumulated Depreciation	61,499	'	'	'
Malls | Empire Mall, Sioux Falls, SD	'	'	'	'
Real Estate and Accumulated Depreciation	'	'	'	'
Encumbrances as of Year End	176,300	'	'	'
Initial Cost	'	'	'	'
Land	35,998	'	'	'
Buildings and Improvements	192,186	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	21,862	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	35,998	'	'	'
Buildings and Improvements	214,048	'	'	'
Total	250,046	'	'	'
Accumulated Depreciation	14,896	'	'	'
Malls | Fashion Mall at Keystone, The, Indianapolis, IN	'	'	'	'
Initial Cost	'	'	'	'
Buildings and Improvements	120,579	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Land	27,027	'	'	'
Buildings and Improvements	85,988	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	27,027	'	'	'
Buildings and Improvements	206,567	'	'	'
Total	233,594	'	'	'
Accumulated Depreciation	79,633	'	'	'
Malls | Firewheel Town Center, Garland (Dallas), TX	'	'	'	'
Initial Cost	'	'	'	'
Land	8,485	'	'	'
Buildings and Improvements	82,716	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	28,862	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	8,485	'	'	'
Buildings and Improvements	111,578	'	'	'
Total	120,063	'	'	'
Accumulated Depreciation	38,740	'	'	'
Malls | Forest Mall, Fond Du Lac, WI	'	'	'	'
Initial Cost	'	'	'	'
Land	721	'	'	'
Buildings and Improvements	4,491	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	8,682	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	721	'	'	'
Buildings and Improvements	13,173	'	'	'
Total	13,894	'	'	'
Accumulated Depreciation	9,167	'	'	'
Malls | Forum Shops at Caesars, The, Las Vegas, NV	'	'	'	'
Initial Cost	'	'	'	'
Buildings and Improvements	276,567	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	220,290	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Buildings and Improvements	496,857	'	'	'
Total	496,857	'	'	'
Accumulated Depreciation	189,169	'	'	'
Malls | Great Lakes Mall, Mentor (Cleveland), OH	'	'	'	'
Initial Cost	'	'	'	'
Land	12,302	'	'	'
Buildings and Improvements	100,362	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	30,661	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	12,302	'	'	'
Buildings and Improvements	131,023	'	'	'
Total	143,325	'	'	'
Accumulated Depreciation	57,785	'	'	'
Malls | Greenwood Park Mall, Greenwood (Indianapolis), IN	'	'	'	'
Real Estate and Accumulated Depreciation	'	'	'	'
Encumbrances as of Year End	76,677	'	'	'
Initial Cost	'	'	'	'
Land	2,423	'	'	'
Buildings and Improvements	23,445	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Land	5,253	'	'	'
Buildings and Improvements	116,978	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	7,676	'	'	'
Buildings and Improvements	140,423	'	'	'
Total	148,099	'	'	'
Accumulated Depreciation	65,212	'	'	'
Malls | Gulf View Square, Port Richey (Tampa), FL	'	'	'	'
Initial Cost	'	'	'	'
Land	13,690	'	'	'
Buildings and Improvements	39,991	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Land	1,688	'	'	'
Buildings and Improvements	19,547	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	15,378	'	'	'
Buildings and Improvements	59,538	'	'	'
Total	74,916	'	'	'
Accumulated Depreciation	30,930	'	'	'
Malls | Haywood Mall, Greenville, SC	'	'	'	'
Initial Cost	'	'	'	'
Land	11,585	'	'	'
Buildings and Improvements	133,893	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Land	6	'	'	'
Buildings and Improvements	22,440	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	11,591	'	'	'
Buildings and Improvements	156,333	'	'	'
Total	167,924	'	'	'
Accumulated Depreciation	83,551	'	'	'
Malls | Independence Center, Independence (Kansas City), MO	'	'	'	'
Real Estate and Accumulated Depreciation	'	'	'	'
Encumbrances as of Year End	200,000	'	'	'
Initial Cost	'	'	'	'
Land	5,042	'	'	'
Buildings and Improvements	45,798	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	35,198	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	5,042	'	'	'
Buildings and Improvements	80,996	'	'	'
Total	86,038	'	'	'
Accumulated Depreciation	41,275	'	'	'
Malls | Ingram Park Mall, San Antonio, TX	'	'	'	'
Real Estate and Accumulated Depreciation	'	'	'	'
Encumbrances as of Year End	139,954	'	'	'
Initial Cost	'	'	'	'
Land	733	'	'	'
Buildings and Improvements	17,163	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Land	37	'	'	'
Buildings and Improvements	24,168	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	770	'	'	'
Buildings and Improvements	41,331	'	'	'
Total	42,101	'	'	'
Accumulated Depreciation	26,649	'	'	'
Malls | Irving Mall, Irving (Dallas), TX	'	'	'	'
Initial Cost	'	'	'	'
Land	6,737	'	'	'
Buildings and Improvements	17,479	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Land	2,533	'	'	'
Buildings and Improvements	43,025	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	9,270	'	'	'
Buildings and Improvements	60,504	'	'	'
Total	69,774	'	'	'
Accumulated Depreciation	37,218	'	'	'
Malls | Jefferson Valley Mall, Yorktown Heights (New York), NY	'	'	'	'
Initial Cost	'	'	'	'
Land	4,868	'	'	'
Buildings and Improvements	30,304	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	27,767	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	4,868	'	'	'
Buildings and Improvements	58,071	'	'	'
Total	62,939	'	'	'
Accumulated Depreciation	36,880	'	'	'
Malls | King of Prussia Mall, King of Prussia (Philadelphia), PA	'	'	'	'
Real Estate and Accumulated Depreciation	'	'	'	'
Encumbrances as of Year End	118,082	'	'	'
Initial Cost	'	'	'	'
Land	175,063	'	'	'
Buildings and Improvements	1,128,200	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	58,646	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	175,063	'	'	'
Buildings and Improvements	1,186,846	'	'	'
Total	1,361,909	'	'	'
Accumulated Depreciation	103,212	'	'	'
Malls | Knoxville Center, Knoxville, TN	'	'	'	'
Initial Cost	'	'	'	'
Land	5,006	'	'	'
Buildings and Improvements	21,617	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Land	3,712	'	'	'
Buildings and Improvements	32,451	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	8,718	'	'	'
Buildings and Improvements	54,068	'	'	'
Total	62,786	'	'	'
Accumulated Depreciation	34,704	'	'	'
Malls | La Plaza Mall, McAllen, TX	'	'	'	'
Initial Cost	'	'	'	'
Land	1,375	'	'	'
Buildings and Improvements	9,828	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Land	6,569	'	'	'
Buildings and Improvements	50,650	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	7,944	'	'	'
Buildings and Improvements	60,478	'	'	'
Total	68,422	'	'	'
Accumulated Depreciation	29,053	'	'	'
Malls | Lakeline Mall, Cedar Park (Austin), TX	'	'	'	'
Initial Cost	'	'	'	'
Land	10,088	'	'	'
Buildings and Improvements	81,568	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Land	14	'	'	'
Buildings and Improvements	16,689	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	10,102	'	'	'
Buildings and Improvements	98,257	'	'	'
Total	108,359	'	'	'
Accumulated Depreciation	48,432	'	'	'
Malls | Lenox Square, Atlanta, GA	'	'	'	'
Initial Cost	'	'	'	'
Land	38,058	'	'	'
Buildings and Improvements	492,411	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	95,038	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	38,058	'	'	'
Buildings and Improvements	587,449	'	'	'
Total	625,507	'	'	'
Accumulated Depreciation	240,388	'	'	'
Malls | Lima Mall, Lima, OH	'	'	'	'
Initial Cost	'	'	'	'
Land	7,659	'	'	'
Buildings and Improvements	35,338	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	13,812	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	7,659	'	'	'
Buildings and Improvements	49,150	'	'	'
Total	56,809	'	'	'
Accumulated Depreciation	25,767	'	'	'
Malls | Lincolnwood Town Center, Lincolnwood (Chicago), IL	'	'	'	'
Initial Cost	'	'	'	'
Land	7,834	'	'	'
Buildings and Improvements	63,480	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	7,682	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	7,834	'	'	'
Buildings and Improvements	71,162	'	'	'
Total	78,996	'	'	'
Accumulated Depreciation	45,561	'	'	'
Malls | Lindale Mall, Cedar Rapids, IA	'	'	'	'
Initial Cost	'	'	'	'
Land	14,106	'	'	'
Buildings and Improvements	58,286	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	6,063	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	14,106	'	'	'
Buildings and Improvements	64,349	'	'	'
Total	78,455	'	'	'
Accumulated Depreciation	6,228	'	'	'
Malls | Livingston Mall, Livingston (New York), NJ	'	'	'	'
Initial Cost	'	'	'	'
Land	22,214	'	'	'
Buildings and Improvements	105,250	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	44,517	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	22,214	'	'	'
Buildings and Improvements	149,767	'	'	'
Total	171,981	'	'	'
Accumulated Depreciation	59,767	'	'	'
Malls | Longview Mall, Longview, TX	'	'	'	'
Initial Cost	'	'	'	'
Land	259	'	'	'
Buildings and Improvements	3,567	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Land	124	'	'	'
Buildings and Improvements	9,252	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	383	'	'	'
Buildings and Improvements	12,819	'	'	'
Total	13,202	'	'	'
Accumulated Depreciation	7,472	'	'	'
Malls | Mall at Chestnut Hill, The, Chestnut Hill (Boston), MA	'	'	'	'
Real Estate and Accumulated Depreciation	'	'	'	'
Encumbrances as of Year End	120,000	'	'	'
Initial Cost	'	'	'	'
Land	449	'	'	'
Buildings and Improvements	25,102	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Land	43,257	'	'	'
Buildings and Improvements	96,161	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	43,706	'	'	'
Buildings and Improvements	121,263	'	'	'
Total	164,969	'	'	'
Accumulated Depreciation	7,429	'	'	'
Malls | Mall of Georgia, Buford (Atlanta), GA	'	'	'	'
Initial Cost	'	'	'	'
Land	47,492	'	'	'
Buildings and Improvements	326,633	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	11,340	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	47,492	'	'	'
Buildings and Improvements	337,973	'	'	'
Total	385,465	'	'	'
Accumulated Depreciation	127,877	'	'	'
Malls | Maplewood Mall, St. Paul (Minneapolis), MN	'	'	'	'
Initial Cost	'	'	'	'
Land	17,119	'	'	'
Buildings and Improvements	80,758	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	24,267	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	17,119	'	'	'
Buildings and Improvements	105,025	'	'	'
Total	122,144	'	'	'
Accumulated Depreciation	37,102	'	'	'
Malls | Markland Mall, Kokomo, IN	'	'	'	'
Initial Cost	'	'	'	'
Buildings and Improvements	7,568	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	17,008	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Buildings and Improvements	24,576	'	'	'
Total	24,576	'	'	'
Accumulated Depreciation	13,219	'	'	'
Malls | McCain Mall, N. Little Rock, AR	'	'	'	'
Initial Cost	'	'	'	'
Buildings and Improvements	9,515	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Land	10,530	'	'	'
Buildings and Improvements	24,457	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	10,530	'	'	'
Buildings and Improvements	33,972	'	'	'
Total	44,502	'	'	'
Accumulated Depreciation	8,535	'	'	'
Malls | Melbourne Square, Melbourne, FL	'	'	'	'
Initial Cost	'	'	'	'
Land	15,762	'	'	'
Buildings and Improvements	55,891	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Land	4,160	'	'	'
Buildings and Improvements	30,434	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	19,922	'	'	'
Buildings and Improvements	86,325	'	'	'
Total	106,247	'	'	'
Accumulated Depreciation	39,350	'	'	'
Malls | Menlo Park Mall, Edison (New York), NJ	'	'	'	'
Initial Cost	'	'	'	'
Land	65,684	'	'	'
Buildings and Improvements	223,252	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	43,986	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	65,684	'	'	'
Buildings and Improvements	267,238	'	'	'
Total	332,922	'	'	'
Accumulated Depreciation	127,857	'	'	'
Malls | Mesa Mall, Grand Junction, CO	'	'	'	'
Real Estate and Accumulated Depreciation	'	'	'	'
Encumbrances as of Year End	87,250	'	'	'
Initial Cost	'	'	'	'
Land	12,784	'	'	'
Buildings and Improvements	80,639	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	1,427	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	12,784	'	'	'
Buildings and Improvements	82,066	'	'	'
Total	94,850	'	'	'
Accumulated Depreciation	8,639	'	'	'
Malls | Midland Park Mall, Midland, TX	'	'	'	'
Real Estate and Accumulated Depreciation	'	'	'	'
Encumbrances as of Year End	83,293	'	'	'
Initial Cost	'	'	'	'
Land	687	'	'	'
Buildings and Improvements	9,213	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	24,059	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	687	'	'	'
Buildings and Improvements	33,272	'	'	'
Total	33,959	'	'	'
Accumulated Depreciation	18,852	'	'	'
Malls | Miller Hill Mall, Duluth, MN	'	'	'	'
Initial Cost	'	'	'	'
Land	2,965	'	'	'
Buildings and Improvements	18,092	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Land	1,811	'	'	'
Buildings and Improvements	39,338	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	4,776	'	'	'
Buildings and Improvements	57,430	'	'	'
Total	62,206	'	'	'
Accumulated Depreciation	34,847	'	'	'
Malls | Montgomery Mall, North Wales (Philadelphia), PA	'	'	'	'
Real Estate and Accumulated Depreciation	'	'	'	'
Encumbrances as of Year End	80,265	'	'	'
Initial Cost	'	'	'	'
Land	27,105	'	'	'
Buildings and Improvements	86,915	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	45,806	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	27,105	'	'	'
Buildings and Improvements	132,721	'	'	'
Total	159,826	'	'	'
Accumulated Depreciation	43,138	'	'	'
Malls | Muncie Mall, Muncie, IN	'	'	'	'
Initial Cost	'	'	'	'
Land	172	'	'	'
Buildings and Improvements	5,776	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Land	52	'	'	'
Buildings and Improvements	28,234	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	224	'	'	'
Buildings and Improvements	34,010	'	'	'
Total	34,234	'	'	'
Accumulated Depreciation	20,382	'	'	'
Malls | North East Mall, Hurst (Dallas), TX	'	'	'	'
Initial Cost	'	'	'	'
Land	128	'	'	'
Buildings and Improvements	12,966	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Land	19,010	'	'	'
Buildings and Improvements	151,137	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	19,138	'	'	'
Buildings and Improvements	164,103	'	'	'
Total	183,241	'	'	'
Accumulated Depreciation	87,794	'	'	'
Malls | Northgate Mall, Seattle, WA	'	'	'	'
Initial Cost	'	'	'	'
Land	24,369	'	'	'
Buildings and Improvements	115,992	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	97,693	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	24,369	'	'	'
Buildings and Improvements	213,685	'	'	'
Total	238,054	'	'	'
Accumulated Depreciation	89,976	'	'	'
Malls | Northlake Mall, Atlanta, GA	'	'	'	'
Initial Cost	'	'	'	'
Land	33,322	'	'	'
Buildings and Improvements	98,035	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	3,813	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	33,322	'	'	'
Buildings and Improvements	101,848	'	'	'
Total	135,170	'	'	'
Accumulated Depreciation	73,019	'	'	'
Malls | Northwoods Mall, Peoria, IL	'	'	'	'
Initial Cost	'	'	'	'
Land	1,185	'	'	'
Buildings and Improvements	12,779	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Land	2,164	'	'	'
Buildings and Improvements	38,469	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	3,349	'	'	'
Buildings and Improvements	51,248	'	'	'
Total	54,597	'	'	'
Accumulated Depreciation	32,596	'	'	'
Malls | Oak Court Mall, Memphis, TN	'	'	'	'
Initial Cost	'	'	'	'
Land	15,673	'	'	'
Buildings and Improvements	57,304	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	9,556	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	15,673	'	'	'
Buildings and Improvements	66,860	'	'	'
Total	82,533	'	'	'
Accumulated Depreciation	37,543	'	'	'
Malls | Ocean County Mall, Toms River (New York), NJ	'	'	'	'
Initial Cost	'	'	'	'
Land	20,404	'	'	'
Buildings and Improvements	124,945	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	30,049	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	20,404	'	'	'
Buildings and Improvements	154,994	'	'	'
Total	175,398	'	'	'
Accumulated Depreciation	66,356	'	'	'
Malls | Orange Park Mall, Orange Park (Jacksonville), FL	'	'	'	'
Initial Cost	'	'	'	'
Land	12,998	'	'	'
Buildings and Improvements	65,121	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	42,553	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	12,998	'	'	'
Buildings and Improvements	107,674	'	'	'
Total	120,672	'	'	'
Accumulated Depreciation	55,165	'	'	'
Malls | Orland Square, Orland Park (Chicago), IL	'	'	'	'
Initial Cost	'	'	'	'
Land	35,514	'	'	'
Buildings and Improvements	129,906	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	48,985	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	35,514	'	'	'
Buildings and Improvements	178,891	'	'	'
Total	214,405	'	'	'
Accumulated Depreciation	77,349	'	'	'
Malls | Oxford Valley Mall, Langhorne (Philadelphia), PA	'	'	'	'
Real Estate and Accumulated Depreciation	'	'	'	'
Encumbrances as of Year End	67,722	'	'	'
Initial Cost	'	'	'	'
Land	24,544	'	'	'
Buildings and Improvements	100,287	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	16,005	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	24,544	'	'	'
Buildings and Improvements	116,292	'	'	'
Total	140,836	'	'	'
Accumulated Depreciation	66,273	'	'	'
Malls | Paddock Mall, Ocala, FL	'	'	'	'
Initial Cost	'	'	'	'
Land	11,198	'	'	'
Buildings and Improvements	39,727	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	21,955	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	11,198	'	'	'
Buildings and Improvements	61,682	'	'	'
Total	72,880	'	'	'
Accumulated Depreciation	26,719	'	'	'
Malls | Penn Square Mall, Oklahoma City, OK	'	'	'	'
Real Estate and Accumulated Depreciation	'	'	'	'
Encumbrances as of Year End	95,256	'	'	'
Initial Cost	'	'	'	'
Land	2,043	'	'	'
Buildings and Improvements	155,958	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	45,697	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	2,043	'	'	'
Buildings and Improvements	201,655	'	'	'
Total	203,698	'	'	'
Accumulated Depreciation	89,107	'	'	'
Malls | Pheasant Lane Mall, Nashua, NH	'	'	'	'
Initial Cost	'	'	'	'
Land	3,902	'	'	'
Buildings and Improvements	155,068	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Land	550	'	'	'
Buildings and Improvements	45,029	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	4,452	'	'	'
Buildings and Improvements	200,097	'	'	'
Total	204,549	'	'	'
Accumulated Depreciation	74,585	'	'	'
Malls | Phipps Plaza, Atlanta, GA	'	'	'	'
Initial Cost	'	'	'	'
Land	16,725	'	'	'
Buildings and Improvements	210,610	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Land	2,225	'	'	'
Buildings and Improvements	37,141	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	18,950	'	'	'
Buildings and Improvements	247,751	'	'	'
Total	266,701	'	'	'
Accumulated Depreciation	106,806	'	'	'
Malls | Plaza Carolina, Carolina (San Juan), PR	'	'	'	'
Real Estate and Accumulated Depreciation	'	'	'	'
Encumbrances as of Year End	225,000	'	'	'
Initial Cost	'	'	'	'
Land	15,493	'	'	'
Buildings and Improvements	279,560	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	57,842	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	15,493	'	'	'
Buildings and Improvements	337,402	'	'	'
Total	352,895	'	'	'
Accumulated Depreciation	99,118	'	'	'
Malls | Port Charlotte Town Center, Port Charlotte, FL	'	'	'	'
Real Estate and Accumulated Depreciation	'	'	'	'
Encumbrances as of Year End	46,353	'	'	'
Initial Cost	'	'	'	'
Land	5,471	'	'	'
Buildings and Improvements	58,570	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	15,507	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	5,471	'	'	'
Buildings and Improvements	74,077	'	'	'
Total	79,548	'	'	'
Accumulated Depreciation	40,124	'	'	'
Malls | Prien Lake Mall, Lake Charles, LA	'	'	'	'
Initial Cost	'	'	'	'
Land	1,842	'	'	'
Buildings and Improvements	2,813	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Land	3,053	'	'	'
Buildings and Improvements	49,249	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	4,895	'	'	'
Buildings and Improvements	52,062	'	'	'
Total	56,957	'	'	'
Accumulated Depreciation	24,425	'	'	'
Malls | Richmond Town Square, Richmond Heights (Cleveland), OH	'	'	'	'
Initial Cost	'	'	'	'
Land	2,600	'	'	'
Buildings and Improvements	12,112	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	56,081	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	2,600	'	'	'
Buildings and Improvements	68,193	'	'	'
Total	70,793	'	'	'
Accumulated Depreciation	51,751	'	'	'
Malls | River Oaks Center, Calumet City (Chicago), IL	'	'	'	'
Initial Cost	'	'	'	'
Land	30,560	'	'	'
Buildings and Improvements	101,224	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	11,295	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	30,560	'	'	'
Buildings and Improvements	112,519	'	'	'
Total	143,079	'	'	'
Accumulated Depreciation	53,968	'	'	'
Malls | Rockaway Townsquare, Rockaway (New York), NJ	'	'	'	'
Initial Cost	'	'	'	'
Land	41,918	'	'	'
Buildings and Improvements	212,257	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	40,440	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	41,918	'	'	'
Buildings and Improvements	252,697	'	'	'
Total	294,615	'	'	'
Accumulated Depreciation	104,858	'	'	'
Malls | Rolling Oaks Mall, San Antonio, TX	'	'	'	'
Initial Cost	'	'	'	'
Land	1,929	'	'	'
Buildings and Improvements	38,609	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	13,650	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	1,929	'	'	'
Buildings and Improvements	52,259	'	'	'
Total	54,188	'	'	'
Accumulated Depreciation	31,736	'	'	'
Malls | Roosevelt Field, Garden City (New York), NY	'	'	'	'
Initial Cost	'	'	'	'
Land	163,160	'	'	'
Buildings and Improvements	702,008	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Land	48	'	'	'
Buildings and Improvements	69,475	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	163,208	'	'	'
Buildings and Improvements	771,483	'	'	'
Total	934,691	'	'	'
Accumulated Depreciation	323,660	'	'	'
Malls | Ross Park Mall, Pittsburgh, PA	'	'	'	'
Initial Cost	'	'	'	'
Land	23,541	'	'	'
Buildings and Improvements	90,203	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	88,181	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	23,541	'	'	'
Buildings and Improvements	178,384	'	'	'
Total	201,925	'	'	'
Accumulated Depreciation	87,737	'	'	'
Malls | Rushmore Mall, Rapid City, SD	'	'	'	'
Real Estate and Accumulated Depreciation	'	'	'	'
Encumbrances as of Year End	94,000	'	'	'
Initial Cost	'	'	'	'
Land	18,839	'	'	'
Buildings and Improvements	67,364	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	1,183	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	18,839	'	'	'
Buildings and Improvements	68,547	'	'	'
Total	87,386	'	'	'
Accumulated Depreciation	8,579	'	'	'
Malls | Santa Rosa Plaza, Santa Rosa, CA	'	'	'	'
Initial Cost	'	'	'	'
Land	10,400	'	'	'
Buildings and Improvements	87,864	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	24,458	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	10,400	'	'	'
Buildings and Improvements	112,322	'	'	'
Total	122,722	'	'	'
Accumulated Depreciation	45,859	'	'	'
Malls | Shops at Nanuet, The, Nanuet, NY	'	'	'	'
Initial Cost	'	'	'	'
Land	28,125	'	'	'
Buildings and Improvements	143,120	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	28,125	'	'	'
Buildings and Improvements	143,120	'	'	'
Total	171,245	'	'	'
Accumulated Depreciation	1,574	'	'	'
Malls | Shops at Riverside, The, Hackensack (New York), NJ	'	'	'	'
Real Estate and Accumulated Depreciation	'	'	'	'
Encumbrances as of Year End	130,000	'	'	'
Initial Cost	'	'	'	'
Land	13,521	'	'	'
Buildings and Improvements	238,746	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	3,948	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	13,521	'	'	'
Buildings and Improvements	242,694	'	'	'
Total	256,215	'	'	'
Accumulated Depreciation	15,859	'	'	'
Malls | South Hills Village, Pittsburgh, PA	'	'	'	'
Initial Cost	'	'	'	'
Land	23,445	'	'	'
Buildings and Improvements	125,840	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Land	1,472	'	'	'
Buildings and Improvements	45,091	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	24,917	'	'	'
Buildings and Improvements	170,931	'	'	'
Total	195,848	'	'	'
Accumulated Depreciation	69,149	'	'	'
Malls | South Shore Plaza, Braintree (Boston), MA	'	'	'	'
Initial Cost	'	'	'	'
Land	101,200	'	'	'
Buildings and Improvements	301,495	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	158,334	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	101,200	'	'	'
Buildings and Improvements	459,829	'	'	'
Total	561,029	'	'	'
Accumulated Depreciation	164,478	'	'	'
Malls | Southdale Center, Edina (Minneapolis), MN	'	'	'	'
Real Estate and Accumulated Depreciation	'	'	'	'
Encumbrances as of Year End	155,000	'	'	'
Initial Cost	'	'	'	'
Land	40,172	'	'	'
Buildings and Improvements	184,967	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	34,325	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	40,172	'	'	'
Buildings and Improvements	219,292	'	'	'
Total	259,464	'	'	'
Accumulated Depreciation	14,058	'	'	'
Malls | Southern Hills Mall, Sioux City, IA	'	'	'	'
Real Estate and Accumulated Depreciation	'	'	'	'
Encumbrances as of Year End	101,500	'	'	'
Initial Cost	'	'	'	'
Land	15,025	'	'	'
Buildings and Improvements	75,984	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	727	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	15,025	'	'	'
Buildings and Improvements	76,711	'	'	'
Total	91,736	'	'	'
Accumulated Depreciation	8,252	'	'	'
Malls | Southern Park Mall, Youngstown, OH	'	'	'	'
Initial Cost	'	'	'	'
Land	16,982	'	'	'
Buildings and Improvements	77,767	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Land	97	'	'	'
Buildings and Improvements	27,091	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	17,079	'	'	'
Buildings and Improvements	104,858	'	'	'
Total	121,937	'	'	'
Accumulated Depreciation	52,442	'	'	'
Malls | SouthPark, Charlotte, NC	'	'	'	'
Real Estate and Accumulated Depreciation	'	'	'	'
Encumbrances as of Year End	189,775	'	'	'
Initial Cost	'	'	'	'
Land	42,092	'	'	'
Buildings and Improvements	188,055	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Land	100	'	'	'
Buildings and Improvements	175,992	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	42,192	'	'	'
Buildings and Improvements	364,047	'	'	'
Total	406,239	'	'	'
Accumulated Depreciation	145,085	'	'	'
Malls | Southridge Mall, Greendale (Milwaukee), WI	'	'	'	'
Real Estate and Accumulated Depreciation	'	'	'	'
Encumbrances as of Year End	125,000	'	'	'
Initial Cost	'	'	'	'
Land	12,359	'	'	'
Buildings and Improvements	130,111	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Land	2,389	'	'	'
Buildings and Improvements	17,916	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	14,748	'	'	'
Buildings and Improvements	148,027	'	'	'
Total	162,775	'	'	'
Accumulated Depreciation	11,556	'	'	'
Malls | St. Charles Towne Center, Waldorf (Washington, D.C.), MD	'	'	'	'
Initial Cost	'	'	'	'
Land	7,710	'	'	'
Buildings and Improvements	52,934	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Land	1,180	'	'	'
Buildings and Improvements	30,943	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	8,890	'	'	'
Buildings and Improvements	83,877	'	'	'
Total	92,767	'	'	'
Accumulated Depreciation	47,149	'	'	'
Malls | Stanford Shopping Center, Palo Alto (San Jose), CA	'	'	'	'
Initial Cost	'	'	'	'
Buildings and Improvements	339,537	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	46,751	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Buildings and Improvements	386,288	'	'	'
Total	386,288	'	'	'
Accumulated Depreciation	110,118	'	'	'
Malls | Summit Mall, Akron, OH	'	'	'	'
Real Estate and Accumulated Depreciation	'	'	'	'
Encumbrances as of Year End	65,000	'	'	'
Initial Cost	'	'	'	'
Land	15,374	'	'	'
Buildings and Improvements	51,137	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	46,586	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	15,374	'	'	'
Buildings and Improvements	97,723	'	'	'
Total	113,097	'	'	'
Accumulated Depreciation	44,203	'	'	'
Malls | Sunland Park Mall, El Paso, TX	'	'	'	'
Real Estate and Accumulated Depreciation	'	'	'	'
Encumbrances as of Year End	28,359	'	'	'
Initial Cost	'	'	'	'
Land	2,896	'	'	'
Buildings and Improvements	28,900	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	9,695	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	2,896	'	'	'
Buildings and Improvements	38,595	'	'	'
Total	41,491	'	'	'
Accumulated Depreciation	25,827	'	'	'
Malls | Tacoma Mall, Tacoma (Seattle), WA	'	'	'	'
Initial Cost	'	'	'	'
Land	37,803	'	'	'
Buildings and Improvements	125,826	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	87,609	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	37,803	'	'	'
Buildings and Improvements	213,435	'	'	'
Total	251,238	'	'	'
Accumulated Depreciation	91,275	'	'	'
Malls | Tippecanoe Mall, Lafayette, IN	'	'	'	'
Initial Cost	'	'	'	'
Land	2,897	'	'	'
Buildings and Improvements	8,439	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Land	5,517	'	'	'
Buildings and Improvements	47,150	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	8,414	'	'	'
Buildings and Improvements	55,589	'	'	'
Total	64,003	'	'	'
Accumulated Depreciation	37,655	'	'	'
Malls | Town Center at Aurora, Aurora (Denver), CO	'	'	'	'
Initial Cost	'	'	'	'
Land	9,959	'	'	'
Buildings and Improvements	56,832	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Land	6	'	'	'
Buildings and Improvements	55,963	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	9,965	'	'	'
Buildings and Improvements	112,795	'	'	'
Total	122,760	'	'	'
Accumulated Depreciation	57,703	'	'	'
Malls | Town Center at Boca Raton, Boca Raton (Miami), FL	'	'	'	'
Initial Cost	'	'	'	'
Land	64,200	'	'	'
Buildings and Improvements	307,317	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	167,058	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	64,200	'	'	'
Buildings and Improvements	474,375	'	'	'
Total	538,575	'	'	'
Accumulated Depreciation	199,104	'	'	'
Malls | Town Center at Cobb, Kennesaw (Atlanta), GA	'	'	'	'
Real Estate and Accumulated Depreciation	'	'	'	'
Encumbrances as of Year End	200,000	'	'	'
Initial Cost	'	'	'	'
Land	32,355	'	'	'
Buildings and Improvements	158,225	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	17,130	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	32,355	'	'	'
Buildings and Improvements	175,355	'	'	'
Total	207,710	'	'	'
Accumulated Depreciation	78,826	'	'	'
Malls | Towne East Square, Wichita, KS	'	'	'	'
Initial Cost	'	'	'	'
Land	8,525	'	'	'
Buildings and Improvements	18,479	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Land	4,108	'	'	'
Buildings and Improvements	44,380	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	12,633	'	'	'
Buildings and Improvements	62,859	'	'	'
Total	75,492	'	'	'
Accumulated Depreciation	38,939	'	'	'
Malls | Towne West Square, Wichita, KS	'	'	'	'
Real Estate and Accumulated Depreciation	'	'	'	'
Encumbrances as of Year End	49,360	'	'	'
Initial Cost	'	'	'	'
Land	972	'	'	'
Buildings and Improvements	21,203	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Land	61	'	'	'
Buildings and Improvements	12,647	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	1,033	'	'	'
Buildings and Improvements	33,850	'	'	'
Total	34,883	'	'	'
Accumulated Depreciation	22,502	'	'	'
Malls | Treasure Coast Square, Jensen Beach, FL	'	'	'	'
Initial Cost	'	'	'	'
Land	11,124	'	'	'
Buildings and Improvements	72,990	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Land	3,067	'	'	'
Buildings and Improvements	38,066	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	14,191	'	'	'
Buildings and Improvements	111,056	'	'	'
Total	125,247	'	'	'
Accumulated Depreciation	54,717	'	'	'
Malls | Tyrone Square, St. Petersburg (Tampa), FL	'	'	'	'
Initial Cost	'	'	'	'
Land	15,638	'	'	'
Buildings and Improvements	120,962	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	34,028	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	15,638	'	'	'
Buildings and Improvements	154,990	'	'	'
Total	170,628	'	'	'
Accumulated Depreciation	74,948	'	'	'
Malls | University Park Mall, Mishawaka, IN	'	'	'	'
Initial Cost	'	'	'	'
Land	16,768	'	'	'
Buildings and Improvements	112,158	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Land	7,000	'	'	'
Buildings and Improvements	54,248	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	23,768	'	'	'
Buildings and Improvements	166,406	'	'	'
Total	190,174	'	'	'
Accumulated Depreciation	127,845	'	'	'
Malls | Valle Vista Mall, Harlingen, TX	'	'	'	'
Real Estate and Accumulated Depreciation	'	'	'	'
Encumbrances as of Year End	40,000	'	'	'
Initial Cost	'	'	'	'
Land	1,398	'	'	'
Buildings and Improvements	17,159	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Land	329	'	'	'
Buildings and Improvements	21,322	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	1,727	'	'	'
Buildings and Improvements	38,481	'	'	'
Total	40,208	'	'	'
Accumulated Depreciation	24,142	'	'	'
Malls | Virginia Center Commons, Glen Allen, VA	'	'	'	'
Initial Cost	'	'	'	'
Land	9,764	'	'	'
Buildings and Improvements	50,547	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Land	4,149	'	'	'
Buildings and Improvements	14,013	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	13,913	'	'	'
Buildings and Improvements	64,560	'	'	'
Total	78,473	'	'	'
Accumulated Depreciation	29,650	'	'	'
Malls | Walt Whitman Shops, Huntington Station (New York), NY	'	'	'	'
Real Estate and Accumulated Depreciation	'	'	'	'
Encumbrances as of Year End	116,932	'	'	'
Initial Cost	'	'	'	'
Land	51,700	'	'	'
Buildings and Improvements	111,258	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Land	3,789	'	'	'
Buildings and Improvements	115,133	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	55,489	'	'	'
Buildings and Improvements	226,391	'	'	'
Total	281,880	'	'	'
Accumulated Depreciation	79,487	'	'	'
Malls | West Ridge Mall, Topeka, KS	'	'	'	'
Real Estate and Accumulated Depreciation	'	'	'	'
Encumbrances as of Year End	64,794	'	'	'
Initial Cost	'	'	'	'
Land	5,453	'	'	'
Buildings and Improvements	34,132	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Land	1,168	'	'	'
Buildings and Improvements	24,122	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	6,621	'	'	'
Buildings and Improvements	58,254	'	'	'
Total	64,875	'	'	'
Accumulated Depreciation	33,282	'	'	'
Malls | Westminster Mall, Westminster (Los Angeles), CA	'	'	'	'
Initial Cost	'	'	'	'
Land	43,464	'	'	'
Buildings and Improvements	84,709	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	35,744	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	43,464	'	'	'
Buildings and Improvements	120,453	'	'	'
Total	163,917	'	'	'
Accumulated Depreciation	51,246	'	'	'
Malls | White Oaks Mall, Springfield, IL	'	'	'	'
Real Estate and Accumulated Depreciation	'	'	'	'
Encumbrances as of Year End	50,000	'	'	'
Initial Cost	'	'	'	'
Land	3,024	'	'	'
Buildings and Improvements	35,692	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Land	2,102	'	'	'
Buildings and Improvements	61,835	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	5,126	'	'	'
Buildings and Improvements	97,527	'	'	'
Total	102,653	'	'	'
Accumulated Depreciation	37,770	'	'	'
Malls | Wolfchase Galleria, Memphis, TN	'	'	'	'
Real Estate and Accumulated Depreciation	'	'	'	'
Encumbrances as of Year End	225,000	'	'	'
Initial Cost	'	'	'	'
Land	15,881	'	'	'
Buildings and Improvements	128,276	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	11,960	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	15,881	'	'	'
Buildings and Improvements	140,236	'	'	'
Total	156,117	'	'	'
Accumulated Depreciation	68,585	'	'	'
Malls | Woodland Hills Mall, Tulsa, OK	'	'	'	'
Real Estate and Accumulated Depreciation	'	'	'	'
Encumbrances as of Year End	92,908	'	'	'
Initial Cost	'	'	'	'
Land	34,211	'	'	'
Buildings and Improvements	187,123	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	23,147	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	34,211	'	'	'
Buildings and Improvements	210,270	'	'	'
Total	244,481	'	'	'
Accumulated Depreciation	91,613	'	'	'
Premium Outlets | Albertville Premium Outlets, Albertville (Minneapolis), MN	'	'	'	'
Initial Cost	'	'	'	'
Land	3,900	'	'	'
Buildings and Improvements	97,059	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	5,758	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	3,900	'	'	'
Buildings and Improvements	102,817	'	'	'
Total	106,717	'	'	'
Accumulated Depreciation	35,694	'	'	'
Premium Outlets | Allen Premium Outlets, Allen (Dallas), TX	'	'	'	'
Initial Cost	'	'	'	'
Land	13,855	'	'	'
Buildings and Improvements	43,687	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Land	97	'	'	'
Buildings and Improvements	14,000	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	13,952	'	'	'
Buildings and Improvements	57,687	'	'	'
Total	71,639	'	'	'
Accumulated Depreciation	22,663	'	'	'
Premium Outlets | Aurora Farms Premium Outlets, Aurora (Cleveland), OH	'	'	'	'
Initial Cost	'	'	'	'
Land	2,370	'	'	'
Buildings and Improvements	24,326	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	4,179	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	2,370	'	'	'
Buildings and Improvements	28,505	'	'	'
Total	30,875	'	'	'
Accumulated Depreciation	17,634	'	'	'
Premium Outlets | Birch Run Premium Outlets, Birch Run (Detroit), MI	'	'	'	'
Real Estate and Accumulated Depreciation	'	'	'	'
Encumbrances as of Year End	104,240	'	'	'
Initial Cost	'	'	'	'
Land	11,560	'	'	'
Buildings and Improvements	77,856	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	3,120	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	11,560	'	'	'
Buildings and Improvements	80,976	'	'	'
Total	92,536	'	'	'
Accumulated Depreciation	14,041	'	'	'
Premium Outlets | Calhoun Premium Outlets, Calhoun, GA	'	'	'	'
Real Estate and Accumulated Depreciation	'	'	'	'
Encumbrances as of Year End	20,035	'	'	'
Initial Cost	'	'	'	'
Land	1,745	'	'	'
Buildings and Improvements	12,529	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	746	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	1,745	'	'	'
Buildings and Improvements	13,275	'	'	'
Total	15,020	'	'	'
Accumulated Depreciation	4,631	'	'	'
Premium Outlets | Camarillo Premium Outlets, Camarillo (Los Angeles), CA	'	'	'	'
Initial Cost	'	'	'	'
Land	16,670	'	'	'
Buildings and Improvements	224,721	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Land	395	'	'	'
Buildings and Improvements	64,137	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	17,065	'	'	'
Buildings and Improvements	288,858	'	'	'
Total	305,923	'	'	'
Accumulated Depreciation	86,240	'	'	'
Premium Outlets | Carlsbad Premium Outlets, Carlsbad (San Diego), CA	'	'	'	'
Initial Cost	'	'	'	'
Land	12,890	'	'	'
Buildings and Improvements	184,990	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Land	96	'	'	'
Buildings and Improvements	3,502	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	12,986	'	'	'
Buildings and Improvements	188,492	'	'	'
Total	201,478	'	'	'
Accumulated Depreciation	54,417	'	'	'
Premium Outlets | Carolina Premium Outlets, Smithfield (Raleigh), NC	'	'	'	'
Real Estate and Accumulated Depreciation	'	'	'	'
Encumbrances as of Year End	49,452	'	'	'
Initial Cost	'	'	'	'
Land	3,175	'	'	'
Buildings and Improvements	59,863	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Land	5,311	'	'	'
Buildings and Improvements	5,320	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	8,486	'	'	'
Buildings and Improvements	65,183	'	'	'
Total	73,669	'	'	'
Accumulated Depreciation	26,530	'	'	'
Premium Outlets | Chicago Premium Outlets, Aurora (Chicago), IL	'	'	'	'
Initial Cost	'	'	'	'
Land	659	'	'	'
Buildings and Improvements	118,005	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	5,158	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	659	'	'	'
Buildings and Improvements	123,163	'	'	'
Total	123,822	'	'	'
Accumulated Depreciation	46,276	'	'	'
Premium Outlets | Cincinnati Premium Outlets, Monroe (Cincinnati), OH	'	'	'	'
Initial Cost	'	'	'	'
Land	14,117	'	'	'
Buildings and Improvements	71,520	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	4,415	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	14,117	'	'	'
Buildings and Improvements	75,935	'	'	'
Total	90,052	'	'	'
Accumulated Depreciation	17,349	'	'	'
Premium Outlets | Clinton Crossing Premium Outlets, Clinton, CT	'	'	'	'
Initial Cost	'	'	'	'
Land	2,060	'	'	'
Buildings and Improvements	107,556	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Land	1,532	'	'	'
Buildings and Improvements	2,543	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	3,592	'	'	'
Buildings and Improvements	110,099	'	'	'
Total	113,691	'	'	'
Accumulated Depreciation	37,823	'	'	'
Premium Outlets | Columbia Gorge Premium Outlets, Troutdale (Portland), OR	'	'	'	'
Initial Cost	'	'	'	'
Land	7,900	'	'	'
Buildings and Improvements	16,492	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	2,652	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	7,900	'	'	'
Buildings and Improvements	19,144	'	'	'
Total	27,044	'	'	'
Accumulated Depreciation	9,407	'	'	'
Premium Outlets | Desert Hills Premium Outlets, Cabazon (Palm Springs), CA	'	'	'	'
Initial Cost	'	'	'	'
Land	3,440	'	'	'
Buildings and Improvements	338,679	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	62,681	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	3,440	'	'	'
Buildings and Improvements	401,360	'	'	'
Total	404,800	'	'	'
Accumulated Depreciation	97,116	'	'	'
Premium Outlets | Edinburgh Premium Outlets, Edinburgh (Indianapolis), IN	'	'	'	'
Initial Cost	'	'	'	'
Land	2,857	'	'	'
Buildings and Improvements	47,309	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	13,273	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	2,857	'	'	'
Buildings and Improvements	60,582	'	'	'
Total	63,439	'	'	'
Accumulated Depreciation	23,497	'	'	'
Premium Outlets | Ellenton Premium Outlets, Ellenton (Tampa), FL	'	'	'	'
Real Estate and Accumulated Depreciation	'	'	'	'
Encumbrances as of Year End	102,442	'	'	'
Initial Cost	'	'	'	'
Land	15,807	'	'	'
Buildings and Improvements	182,412	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	3,485	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	15,807	'	'	'
Buildings and Improvements	185,897	'	'	'
Total	201,704	'	'	'
Accumulated Depreciation	36,306	'	'	'
Premium Outlets | Folsom Premium Outlets, Folsom (Sacramento), CA	'	'	'	'
Initial Cost	'	'	'	'
Land	9,060	'	'	'
Buildings and Improvements	50,281	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	4,188	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	9,060	'	'	'
Buildings and Improvements	54,469	'	'	'
Total	63,529	'	'	'
Accumulated Depreciation	23,134	'	'	'
Premium Outlets | Gaffney Premium Outlets, Gaffney (Greenville/Charlotte), SC	'	'	'	'
Real Estate and Accumulated Depreciation	'	'	'	'
Encumbrances as of Year End	36,360	'	'	'
Initial Cost	'	'	'	'
Land	4,056	'	'	'
Buildings and Improvements	32,371	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	2,105	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	4,056	'	'	'
Buildings and Improvements	34,476	'	'	'
Total	38,532	'	'	'
Accumulated Depreciation	7,154	'	'	'
Premium Outlets | Gilroy Premium Outlets, Gilroy (San Jose), CA	'	'	'	'
Initial Cost	'	'	'	'
Land	9,630	'	'	'
Buildings and Improvements	194,122	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	9,347	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	9,630	'	'	'
Buildings and Improvements	203,469	'	'	'
Total	213,099	'	'	'
Accumulated Depreciation	67,532	'	'	'
Premium Outlets | Grand Prairie Premium Outlets, Grand Prairie (Dallas), TX	'	'	'	'
Real Estate and Accumulated Depreciation	'	'	'	'
Encumbrances as of Year End	120,000	'	'	'
Initial Cost	'	'	'	'
Land	9,497	'	'	'
Buildings and Improvements	198,253	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	9,497	'	'	'
Buildings and Improvements	198,253	'	'	'
Total	207,750	'	'	'
Accumulated Depreciation	8,100	'	'	'
Premium Outlets | Grove City Premium Outlets, Grove City (Pittsburgh), PA	'	'	'	'
Real Estate and Accumulated Depreciation	'	'	'	'
Encumbrances as of Year End	110,590	'	'	'
Initial Cost	'	'	'	'
Land	6,421	'	'	'
Buildings and Improvements	121,880	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	2,157	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	6,421	'	'	'
Buildings and Improvements	124,037	'	'	'
Total	130,458	'	'	'
Accumulated Depreciation	25,495	'	'	'
Premium Outlets | Gulfport Premium Outlets, Gulfport, MS	'	'	'	'
Real Estate and Accumulated Depreciation	'	'	'	'
Encumbrances as of Year End	24,674	'	'	'
Initial Cost	'	'	'	'
Buildings and Improvements	27,949	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	1,598	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Buildings and Improvements	29,547	'	'	'
Total	29,547	'	'	'
Accumulated Depreciation	6,388	'	'	'
Premium Outlets | Hagerstown Premium Outlets, Hagerstown (Baltimore/Washington DC), MD	'	'	'	'
Real Estate and Accumulated Depreciation	'	'	'	'
Encumbrances as of Year End	87,586	'	'	'
Initial Cost	'	'	'	'
Land	3,576	'	'	'
Buildings and Improvements	85,883	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	1,826	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	3,576	'	'	'
Buildings and Improvements	87,709	'	'	'
Total	91,285	'	'	'
Accumulated Depreciation	15,427	'	'	'
Premium Outlets | Houston Premium Outlets, Cypress (Houston), TX	'	'	'	'
Initial Cost	'	'	'	'
Land	9,090	'	'	'
Buildings and Improvements	69,350	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	46,834	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	9,090	'	'	'
Buildings and Improvements	116,184	'	'	'
Total	125,274	'	'	'
Accumulated Depreciation	26,571	'	'	'
Premium Outlets | Jackson Premium Outlets, Jackson (New York), NJ	'	'	'	'
Initial Cost	'	'	'	'
Land	6,413	'	'	'
Buildings and Improvements	104,013	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Land	3	'	'	'
Buildings and Improvements	4,878	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	6,416	'	'	'
Buildings and Improvements	108,891	'	'	'
Total	115,307	'	'	'
Accumulated Depreciation	31,859	'	'	'
Premium Outlets | Jersey Shore Premium Outlets, Tinton Falls (New York), NJ	'	'	'	'
Real Estate and Accumulated Depreciation	'	'	'	'
Encumbrances as of Year End	68,630	'	'	'
Initial Cost	'	'	'	'
Land	15,390	'	'	'
Buildings and Improvements	50,979	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	75,219	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	15,390	'	'	'
Buildings and Improvements	126,198	'	'	'
Total	141,588	'	'	'
Accumulated Depreciation	30,828	'	'	'
Premium Outlets | Johnson Creek Premium Outlets, Johnson Creek, WI	'	'	'	'
Initial Cost	'	'	'	'
Land	2,800	'	'	'
Buildings and Improvements	39,546	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	6,778	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	2,800	'	'	'
Buildings and Improvements	46,324	'	'	'
Total	49,124	'	'	'
Accumulated Depreciation	15,467	'	'	'
Premium Outlets | Kittery Premium Outlets, Kittery , ME	'	'	'	'
Initial Cost	'	'	'	'
Land	11,832	'	'	'
Buildings and Improvements	94,994	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	7,008	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	11,832	'	'	'
Buildings and Improvements	102,002	'	'	'
Total	113,834	'	'	'
Accumulated Depreciation	27,960	'	'	'
Premium Outlets | Las Americas Premium Outlets, San Diego, CA	'	'	'	'
Real Estate and Accumulated Depreciation	'	'	'	'
Encumbrances as of Year End	178,806	'	'	'
Initial Cost	'	'	'	'
Land	45,168	'	'	'
Buildings and Improvements	251,878	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	5,948	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	45,168	'	'	'
Buildings and Improvements	257,826	'	'	'
Total	302,994	'	'	'
Accumulated Depreciation	48,063	'	'	'
Premium Outlets | Las Vegas Premium Outlets - North, Las Vegas, NV	'	'	'	'
Initial Cost	'	'	'	'
Land	25,435	'	'	'
Buildings and Improvements	134,973	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Land	16,536	'	'	'
Buildings and Improvements	88,100	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	41,971	'	'	'
Buildings and Improvements	223,073	'	'	'
Total	265,044	'	'	'
Accumulated Depreciation	66,499	'	'	'
Premium Outlets | Las Vegas Premium Outlets - South, Las Vegas, NV	'	'	'	'
Initial Cost	'	'	'	'
Land	13,085	'	'	'
Buildings and Improvements	160,777	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	22,769	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	13,085	'	'	'
Buildings and Improvements	183,546	'	'	'
Total	196,631	'	'	'
Accumulated Depreciation	46,983	'	'	'
Premium Outlets | Lebanon Premium Outlets, Lebanon (Nashville), TN	'	'	'	'
Real Estate and Accumulated Depreciation	'	'	'	'
Encumbrances as of Year End	15,170	'	'	'
Initial Cost	'	'	'	'
Land	1,758	'	'	'
Buildings and Improvements	10,189	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	1,019	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	1,758	'	'	'
Buildings and Improvements	11,208	'	'	'
Total	12,966	'	'	'
Accumulated Depreciation	2,771	'	'	'
Premium Outlets | Lee Premium Outlets, Lee, MA	'	'	'	'
Real Estate and Accumulated Depreciation	'	'	'	'
Encumbrances as of Year End	50,014	'	'	'
Initial Cost	'	'	'	'
Land	9,167	'	'	'
Buildings and Improvements	52,212	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	1,075	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	9,167	'	'	'
Buildings and Improvements	53,287	'	'	'
Total	62,454	'	'	'
Accumulated Depreciation	11,176	'	'	'
Premium Outlets | Leesburg Corner Premium Outlets, Leesburg (Washington D.C.), VA	'	'	'	'
Initial Cost	'	'	'	'
Land	7,190	'	'	'
Buildings and Improvements	162,023	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	3,871	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	7,190	'	'	'
Buildings and Improvements	165,894	'	'	'
Total	173,084	'	'	'
Accumulated Depreciation	58,996	'	'	'
Premium Outlets | Liberty Village Premium Outlets, Flemington (New York), NJ	'	'	'	'
Initial Cost	'	'	'	'
Land	5,670	'	'	'
Buildings and Improvements	28,904	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	1,550	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	5,670	'	'	'
Buildings and Improvements	30,454	'	'	'
Total	36,124	'	'	'
Accumulated Depreciation	14,553	'	'	'
Premium Outlets | Lighthouse Place Premium Outlets, Michigan City (Chicago, IL), IN	'	'	'	'
Initial Cost	'	'	'	'
Land	6,630	'	'	'
Buildings and Improvements	94,138	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	8,465	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	6,630	'	'	'
Buildings and Improvements	102,603	'	'	'
Total	109,233	'	'	'
Accumulated Depreciation	40,050	'	'	'
Premium Outlets | Livermore Premium Outlets, Livermore (San Francisco), CA	'	'	'	'
Initial Cost	'	'	'	'
Land	21,925	'	'	'
Buildings and Improvements	308,694	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	21,925	'	'	'
Buildings and Improvements	308,694	'	'	'
Total	330,619	'	'	'
Accumulated Depreciation	11,557	'	'	'
Premium Outlets | Merrimack Premium Outlets, Merrimack, NH	'	'	'	'
Real Estate and Accumulated Depreciation	'	'	'	'
Encumbrances as of Year End	130,000	'	'	'
Initial Cost	'	'	'	'
Land	17,028	'	'	'
Buildings and Improvements	118,428	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	602	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	17,028	'	'	'
Buildings and Improvements	119,030	'	'	'
Total	136,058	'	'	'
Accumulated Depreciation	8,517	'	'	'
Premium Outlets | Napa Premium Outlets, Napa, CA	'	'	'	'
Initial Cost	'	'	'	'
Land	11,400	'	'	'
Buildings and Improvements	45,023	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	3,375	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	11,400	'	'	'
Buildings and Improvements	48,398	'	'	'
Total	59,798	'	'	'
Accumulated Depreciation	17,537	'	'	'
Premium Outlets | North Bend Premium Outlets, North Bend (Seattle), WA	'	'	'	'
Initial Cost	'	'	'	'
Land	2,143	'	'	'
Buildings and Improvements	36,197	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	3,496	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	2,143	'	'	'
Buildings and Improvements	39,693	'	'	'
Total	41,836	'	'	'
Accumulated Depreciation	11,480	'	'	'
Premium Outlets | North Georgia Premium Outlets, Dawsonville (Atlanta), GA	'	'	'	'
Initial Cost	'	'	'	'
Land	4,300	'	'	'
Buildings and Improvements	132,325	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	3,183	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	4,300	'	'	'
Buildings and Improvements	135,508	'	'	'
Total	139,808	'	'	'
Accumulated Depreciation	45,209	'	'	'
Premium Outlets | Orlando Premium Outlets - International Dr, Orlando, FL	'	'	'	'
Initial Cost	'	'	'	'
Land	32,727	'	'	'
Buildings and Improvements	472,815	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	2,156	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	32,727	'	'	'
Buildings and Improvements	474,971	'	'	'
Total	507,698	'	'	'
Accumulated Depreciation	63,945	'	'	'
Premium Outlets | Orlando Premium Outlets - Vineland Ave, Orlando, FL	'	'	'	'
Initial Cost	'	'	'	'
Land	14,040	'	'	'
Buildings and Improvements	304,410	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Land	38,632	'	'	'
Buildings and Improvements	76,159	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	52,672	'	'	'
Buildings and Improvements	380,569	'	'	'
Total	433,241	'	'	'
Accumulated Depreciation	97,093	'	'	'
Premium Outlets | Osage Beach Premium Outlets, Osage Beach, MO	'	'	'	'
Initial Cost	'	'	'	'
Land	9,460	'	'	'
Buildings and Improvements	85,804	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	5,828	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	9,460	'	'	'
Buildings and Improvements	91,632	'	'	'
Total	101,092	'	'	'
Accumulated Depreciation	33,158	'	'	'
Premium Outlets | Petaluma Village Premium Outlets, Petaluma (San Francisco), CA	'	'	'	'
Initial Cost	'	'	'	'
Land	13,322	'	'	'
Buildings and Improvements	13,710	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	1,336	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	13,322	'	'	'
Buildings and Improvements	15,046	'	'	'
Total	28,368	'	'	'
Accumulated Depreciation	8,721	'	'	'
Premium Outlets | Philadelphia Premium Outlets, Limerick (Philadelphia), PA	'	'	'	'
Initial Cost	'	'	'	'
Land	16,676	'	'	'
Buildings and Improvements	105,249	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	15,974	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	16,676	'	'	'
Buildings and Improvements	121,223	'	'	'
Total	137,899	'	'	'
Accumulated Depreciation	37,332	'	'	'
Premium Outlets | Phoenix Premium Outlets, Chandler (Phoenix), AZ	'	'	'	'
Initial Cost	'	'	'	'
Buildings and Improvements	63,751	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Buildings and Improvements	63,751	'	'	'
Total	63,751	'	'	'
Accumulated Depreciation	1,938	'	'	'
Premium Outlets | Pismo Beach Premium Outlets, Pismo Beach, CA	'	'	'	'
Real Estate and Accumulated Depreciation	'	'	'	'
Encumbrances as of Year End	33,850	'	'	'
Initial Cost	'	'	'	'
Land	4,317	'	'	'
Buildings and Improvements	19,044	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	1,266	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	4,317	'	'	'
Buildings and Improvements	20,310	'	'	'
Total	24,627	'	'	'
Accumulated Depreciation	5,156	'	'	'
Premium Outlets | Pleasant Prairie Premium Outlets, Pleasant Prairie (Chicago, IL/Milwaukee), WI	'	'	'	'
Real Estate and Accumulated Depreciation	'	'	'	'
Encumbrances as of Year End	94,730	'	'	'
Initial Cost	'	'	'	'
Land	16,823	'	'	'
Buildings and Improvements	126,686	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	2,902	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	16,823	'	'	'
Buildings and Improvements	129,588	'	'	'
Total	146,411	'	'	'
Accumulated Depreciation	20,008	'	'	'
Premium Outlets | Puerto Rico Premium Outlets, Barceloneta, PR	'	'	'	'
Real Estate and Accumulated Depreciation	'	'	'	'
Encumbrances as of Year End	125,000	'	'	'
Initial Cost	'	'	'	'
Land	20,586	'	'	'
Buildings and Improvements	114,021	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	1,795	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	20,586	'	'	'
Buildings and Improvements	115,816	'	'	'
Total	136,402	'	'	'
Accumulated Depreciation	18,454	'	'	'
Premium Outlets | Queenstown Premium Outlets, Queenstown (Baltimore), MD	'	'	'	'
Real Estate and Accumulated Depreciation	'	'	'	'
Encumbrances as of Year End	66,150	'	'	'
Initial Cost	'	'	'	'
Land	8,129	'	'	'
Buildings and Improvements	61,950	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	2,727	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	8,129	'	'	'
Buildings and Improvements	64,677	'	'	'
Total	72,806	'	'	'
Accumulated Depreciation	10,908	'	'	'
Premium Outlets | Rio Grande Valley Premium Outlets, Mercedes (McAllen), TX	'	'	'	'
Initial Cost	'	'	'	'
Land	12,229	'	'	'
Buildings and Improvements	41,547	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	33,564	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	12,229	'	'	'
Buildings and Improvements	75,111	'	'	'
Total	87,340	'	'	'
Accumulated Depreciation	26,739	'	'	'
Premium Outlets | Round Rock Premium Outlets, Round Rock (Austin), TX	'	'	'	'
Initial Cost	'	'	'	'
Land	14,706	'	'	'
Buildings and Improvements	82,252	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	1,430	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	14,706	'	'	'
Buildings and Improvements	83,682	'	'	'
Total	98,388	'	'	'
Accumulated Depreciation	31,830	'	'	'
Premium Outlets | San Marcos Premium Outlets, San Marcos (Austin/San Antonio), TX	'	'	'	'
Real Estate and Accumulated Depreciation	'	'	'	'
Encumbrances as of Year End	140,276	'	'	'
Initial Cost	'	'	'	'
Land	13,180	'	'	'
Buildings and Improvements	287,179	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	5,195	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	13,180	'	'	'
Buildings and Improvements	292,374	'	'	'
Total	305,554	'	'	'
Accumulated Depreciation	39,066	'	'	'
Premium Outlets | Seattle Premium Outlets, Tulalip (Seattle), WA	'	'	'	'
Initial Cost	'	'	'	'
Buildings and Improvements	103,722	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	52,801	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Buildings and Improvements	156,523	'	'	'
Total	156,523	'	'	'
Accumulated Depreciation	41,415	'	'	'
Premium Outlets | St. Augustine Premium Outlets, St. Augustine (Jacksonville), FL	'	'	'	'
Initial Cost	'	'	'	'
Land	6,090	'	'	'
Buildings and Improvements	57,670	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Land	2	'	'	'
Buildings and Improvements	8,694	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	6,092	'	'	'
Buildings and Improvements	66,364	'	'	'
Total	72,456	'	'	'
Accumulated Depreciation	25,565	'	'	'
Premium Outlets | The Crossings Premium Outlets, Tannersville , PA	'	'	'	'
Real Estate and Accumulated Depreciation	'	'	'	'
Encumbrances as of Year End	115,000	'	'	'
Initial Cost	'	'	'	'
Land	7,720	'	'	'
Buildings and Improvements	172,931	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	11,172	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	7,720	'	'	'
Buildings and Improvements	184,103	'	'	'
Total	191,823	'	'	'
Accumulated Depreciation	54,325	'	'	'
Premium Outlets | Vacaville Premium Outlets, Vacaville , CA	'	'	'	'
Initial Cost	'	'	'	'
Land	9,420	'	'	'
Buildings and Improvements	84,850	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	10,269	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	9,420	'	'	'
Buildings and Improvements	95,119	'	'	'
Total	104,539	'	'	'
Accumulated Depreciation	37,972	'	'	'
Premium Outlets | Waikele Premium Outlets, Waipahu (Honolulu), HI	'	'	'	'
Initial Cost	'	'	'	'
Land	22,630	'	'	'
Buildings and Improvements	77,316	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	2,850	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	22,630	'	'	'
Buildings and Improvements	80,166	'	'	'
Total	102,796	'	'	'
Accumulated Depreciation	28,323	'	'	'
Premium Outlets | Waterloo Premium Outlets, Waterloo , NY	'	'	'	'
Initial Cost	'	'	'	'
Land	3,230	'	'	'
Buildings and Improvements	75,277	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	8,362	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	3,230	'	'	'
Buildings and Improvements	83,639	'	'	'
Total	86,869	'	'	'
Accumulated Depreciation	32,115	'	'	'
Premium Outlets | Williamsburg Premium Outlets, Williamsburg, VA	'	'	'	'
Real Estate and Accumulated Depreciation	'	'	'	'
Encumbrances as of Year End	101,186	'	'	'
Initial Cost	'	'	'	'
Land	10,323	'	'	'
Buildings and Improvements	223,789	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	2,591	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	10,323	'	'	'
Buildings and Improvements	226,380	'	'	'
Total	236,703	'	'	'
Accumulated Depreciation	30,766	'	'	'
Premium Outlets | Woodburn Premium Outlets, Woodburn (Portland), OR	'	'	'	'
Initial Cost	'	'	'	'
Land	9,414	'	'	'
Buildings and Improvements	150,414	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	125	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	9,414	'	'	'
Buildings and Improvements	150,539	'	'	'
Total	159,953	'	'	'
Accumulated Depreciation	4,011	'	'	'
Premium Outlets | Woodbury Common Premium Outlets, Central Valley (New York), NY	'	'	'	'
Initial Cost	'	'	'	'
Land	11,110	'	'	'
Buildings and Improvements	862,559	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Land	1,658	'	'	'
Buildings and Improvements	43,690	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	12,768	'	'	'
Buildings and Improvements	906,249	'	'	'
Total	919,017	'	'	'
Accumulated Depreciation	252,964	'	'	'
Premium Outlets | Wrentham Village Premium Outlets, Wrentham (Boston), MA	'	'	'	'
Initial Cost	'	'	'	'
Land	4,900	'	'	'
Buildings and Improvements	282,031	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	8,015	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	4,900	'	'	'
Buildings and Improvements	290,046	'	'	'
Total	294,946	'	'	'
Accumulated Depreciation	90,807	'	'	'
The Mills | Great Mall, Milpitas (San Jose), CA	'	'	'	'
Real Estate and Accumulated Depreciation	'	'	'	'
Encumbrances as of Year End	269,306	'	'	'
Initial Cost	'	'	'	'
Land	70,496	'	'	'
Buildings and Improvements	463,101	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	6,311	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	70,496	'	'	'
Buildings and Improvements	469,412	'	'	'
Total	539,908	'	'	'
Accumulated Depreciation	30,378	'	'	'
The Mills | Gurnee Mills, Gurnee (Chicago), IL	'	'	'	'
Real Estate and Accumulated Depreciation	'	'	'	'
Encumbrances as of Year End	321,000	'	'	'
Initial Cost	'	'	'	'
Land	41,133	'	'	'
Buildings and Improvements	297,911	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	3,715	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	41,133	'	'	'
Buildings and Improvements	301,626	'	'	'
Total	342,759	'	'	'
Accumulated Depreciation	20,273	'	'	'
The Mills | Opry Mills, Nashville, TN	'	'	'	'
Real Estate and Accumulated Depreciation	'	'	'	'
Encumbrances as of Year End	382,347	'	'	'
Initial Cost	'	'	'	'
Land	51,000	'	'	'
Buildings and Improvements	327,503	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	9,742	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	51,000	'	'	'
Buildings and Improvements	337,245	'	'	'
Total	388,245	'	'	'
Accumulated Depreciation	21,815	'	'	'
The Mills | Potomac Mills, Woodbridge (Washington, D.C.), VA	'	'	'	'
Real Estate and Accumulated Depreciation	'	'	'	'
Encumbrances as of Year End	410,000	'	'	'
Initial Cost	'	'	'	'
Land	61,771	'	'	'
Buildings and Improvements	425,370	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	25,031	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	61,771	'	'	'
Buildings and Improvements	450,401	'	'	'
Total	512,172	'	'	'
Accumulated Depreciation	29,865	'	'	'
The Mills | Sawgrass Mills, Sunrise (Miami), FL	'	'	'	'
Real Estate and Accumulated Depreciation	'	'	'	'
Encumbrances as of Year End	820,000	'	'	'
Initial Cost	'	'	'	'
Land	194,002	'	'	'
Buildings and Improvements	1,641,153	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	28,981	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	194,002	'	'	'
Buildings and Improvements	1,670,134	'	'	'
Total	1,864,136	'	'	'
Accumulated Depreciation	103,801	'	'	'
Community/Lifestyle Centers | ABQ Uptown, Albuquerque, NM	'	'	'	'
Initial Cost	'	'	'	'
Land	6,374	'	'	'
Buildings and Improvements	75,333	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Land	4,054	'	'	'
Buildings and Improvements	4,003	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	10,428	'	'	'
Buildings and Improvements	79,336	'	'	'
Total	89,764	'	'	'
Accumulated Depreciation	7,640	'	'	'
Community/Lifestyle Centers | Arboretum, Austin, TX	'	'	'	'
Initial Cost	'	'	'	'
Land	7,640	'	'	'
Buildings and Improvements	36,774	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Land	71	'	'	'
Buildings and Improvements	12,240	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	7,711	'	'	'
Buildings and Improvements	49,014	'	'	'
Total	56,725	'	'	'
Accumulated Depreciation	21,046	'	'	'
Community/Lifestyle Centers | Bloomingdale Court, Bloomingdale (Chicago), IL	'	'	'	'
Real Estate and Accumulated Depreciation	'	'	'	'
Encumbrances as of Year End	25,164	'	'	'
Initial Cost	'	'	'	'
Land	8,422	'	'	'
Buildings and Improvements	26,184	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	13,429	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	8,422	'	'	'
Buildings and Improvements	39,613	'	'	'
Total	48,035	'	'	'
Accumulated Depreciation	22,263	'	'	'
Community/Lifestyle Centers | Charles Towne Square, Charleston, SC	'	'	'	'
Initial Cost	'	'	'	'
Buildings and Improvements	1,768	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Land	370	'	'	'
Buildings and Improvements	10,636	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	370	'	'	'
Buildings and Improvements	12,404	'	'	'
Total	12,774	'	'	'
Accumulated Depreciation	9,705	'	'	'
Community/Lifestyle Centers | Chesapeake Center, Chesapeake (Virginia Beach), VA	'	'	'	'
Initial Cost	'	'	'	'
Land	4,410	'	'	'
Buildings and Improvements	11,241	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	177	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	4,410	'	'	'
Buildings and Improvements	11,418	'	'	'
Total	15,828	'	'	'
Accumulated Depreciation	7,622	'	'	'
Community/Lifestyle Centers | Concord Mills Marketplace, Concord (Charlotte), NC	'	'	'	'
Real Estate and Accumulated Depreciation	'	'	'	'
Encumbrances as of Year End	16,000	'	'	'
Initial Cost	'	'	'	'
Land	8,036	'	'	'
Buildings and Improvements	21,167	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	8,036	'	'	'
Buildings and Improvements	21,167	'	'	'
Total	29,203	'	'	'
Accumulated Depreciation	1,519	'	'	'
Community/Lifestyle Centers | Countryside Plaza, Countryside (Chicago), IL	'	'	'	'
Initial Cost	'	'	'	'
Land	332	'	'	'
Buildings and Improvements	8,507	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Land	2,554	'	'	'
Buildings and Improvements	10,183	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	2,886	'	'	'
Buildings and Improvements	18,690	'	'	'
Total	21,576	'	'	'
Accumulated Depreciation	10,215	'	'	'
Community/Lifestyle Centers | Dare Centre, Kill Devil Hills, NC	'	'	'	'
Initial Cost	'	'	'	'
Buildings and Improvements	5,702	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	649	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Buildings and Improvements	6,351	'	'	'
Total	6,351	'	'	'
Accumulated Depreciation	2,157	'	'	'
Community/Lifestyle Centers | DeKalb Plaza, King of Prussia (Philadelphia), PA	'	'	'	'
Real Estate and Accumulated Depreciation	'	'	'	'
Encumbrances as of Year End	2,377	'	'	'
Initial Cost	'	'	'	'
Land	1,955	'	'	'
Buildings and Improvements	3,405	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	1,348	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	1,955	'	'	'
Buildings and Improvements	4,753	'	'	'
Total	6,708	'	'	'
Accumulated Depreciation	2,722	'	'	'
Community/Lifestyle Centers | Empire East, Sioux Falls, SD	'	'	'	'
Initial Cost	'	'	'	'
Land	3,350	'	'	'
Buildings and Improvements	10,552	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	2,368	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	3,350	'	'	'
Buildings and Improvements	12,920	'	'	'
Total	16,270	'	'	'
Accumulated Depreciation	976	'	'	'
Community/Lifestyle Centers | Forest Plaza, Rockford, IL	'	'	'	'
Real Estate and Accumulated Depreciation	'	'	'	'
Encumbrances as of Year End	17,733	'	'	'
Initial Cost	'	'	'	'
Land	4,132	'	'	'
Buildings and Improvements	16,818	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Land	453	'	'	'
Buildings and Improvements	13,143	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	4,585	'	'	'
Buildings and Improvements	29,961	'	'	'
Total	34,546	'	'	'
Accumulated Depreciation	14,616	'	'	'
Community/Lifestyle Centers | Gateway Centers, Austin, TX	'	'	'	'
Initial Cost	'	'	'	'
Land	24,549	'	'	'
Buildings and Improvements	81,437	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	13,282	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	24,549	'	'	'
Buildings and Improvements	94,719	'	'	'
Total	119,268	'	'	'
Accumulated Depreciation	33,797	'	'	'
Community/Lifestyle Centers | Greenwood Plus, Greenwood (Indianapolis), IN	'	'	'	'
Initial Cost	'	'	'	'
Land	1,129	'	'	'
Buildings and Improvements	1,792	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	4,655	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	1,129	'	'	'
Buildings and Improvements	6,447	'	'	'
Total	7,576	'	'	'
Accumulated Depreciation	3,725	'	'	'
Community/Lifestyle Centers | Henderson Square, King of Prussia (Philadelphia), PA	'	'	'	'
Real Estate and Accumulated Depreciation	'	'	'	'
Encumbrances as of Year End	13,301	'	'	'
Initial Cost	'	'	'	'
Land	4,223	'	'	'
Buildings and Improvements	15,124	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	838	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	4,223	'	'	'
Buildings and Improvements	15,962	'	'	'
Total	20,185	'	'	'
Accumulated Depreciation	4,883	'	'	'
Community/Lifestyle Centers | Highland Lakes Center, Orlando, FL	'	'	'	'
Initial Cost	'	'	'	'
Land	7,138	'	'	'
Buildings and Improvements	25,284	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	2,102	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	7,138	'	'	'
Buildings and Improvements	27,386	'	'	'
Total	34,524	'	'	'
Accumulated Depreciation	22,367	'	'	'
Community/Lifestyle Centers | Keystone Shoppes, Indianapolis, IN	'	'	'	'
Initial Cost	'	'	'	'
Buildings and Improvements	4,232	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Land	4,236	'	'	'
Buildings and Improvements	2,797	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	4,236	'	'	'
Buildings and Improvements	7,029	'	'	'
Total	11,265	'	'	'
Accumulated Depreciation	2,500	'	'	'
Community/Lifestyle Centers | Lake Plaza, Waukegan (Chicago), IL	'	'	'	'
Initial Cost	'	'	'	'
Land	2,487	'	'	'
Buildings and Improvements	6,420	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	1,370	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	2,487	'	'	'
Buildings and Improvements	7,790	'	'	'
Total	10,277	'	'	'
Accumulated Depreciation	4,533	'	'	'
Community/Lifestyle Centers | Lake View Plaza, Orland Park (Chicago), IL	'	'	'	'
Real Estate and Accumulated Depreciation	'	'	'	'
Encumbrances as of Year End	15,470	'	'	'
Initial Cost	'	'	'	'
Land	4,702	'	'	'
Buildings and Improvements	17,543	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	13,726	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	4,702	'	'	'
Buildings and Improvements	31,269	'	'	'
Total	35,971	'	'	'
Accumulated Depreciation	17,600	'	'	'
Community/Lifestyle Centers | Lakeline Plaza, Cedar Park (Austin), TX	'	'	'	'
Real Estate and Accumulated Depreciation	'	'	'	'
Encumbrances as of Year End	16,613	'	'	'
Initial Cost	'	'	'	'
Land	5,822	'	'	'
Buildings and Improvements	30,875	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	9,308	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	5,822	'	'	'
Buildings and Improvements	40,183	'	'	'
Total	46,005	'	'	'
Accumulated Depreciation	18,728	'	'	'
Community/Lifestyle Centers | Lima Center, Lima, OH	'	'	'	'
Initial Cost	'	'	'	'
Land	1,781	'	'	'
Buildings and Improvements	5,151	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	8,959	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	1,781	'	'	'
Buildings and Improvements	14,110	'	'	'
Total	15,891	'	'	'
Accumulated Depreciation	6,943	'	'	'
Community/Lifestyle Centers | Lincoln Crossing, O'Fallon (St. Louis), IL	'	'	'	'
Initial Cost	'	'	'	'
Land	674	'	'	'
Buildings and Improvements	2,192	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	893	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	674	'	'	'
Buildings and Improvements	3,085	'	'	'
Total	3,759	'	'	'
Accumulated Depreciation	1,653	'	'	'
Community/Lifestyle Centers | Lincoln Plaza, King of Prussia (Philadelphia), PA	'	'	'	'
Initial Cost	'	'	'	'
Buildings and Improvements	21,299	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	3,496	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Buildings and Improvements	24,795	'	'	'
Total	24,795	'	'	'
Accumulated Depreciation	13,155	'	'	'
Community/Lifestyle Centers | MacGregor Village, Cary, NC	'	'	'	'
Initial Cost	'	'	'	'
Land	502	'	'	'
Buildings and Improvements	8,897	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	400	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	502	'	'	'
Buildings and Improvements	9,297	'	'	'
Total	9,799	'	'	'
Accumulated Depreciation	2,556	'	'	'
Community/Lifestyle Centers | Mall of Georgia Crossing, Buford (Atlanta), GA	'	'	'	'
Real Estate and Accumulated Depreciation	'	'	'	'
Encumbrances as of Year End	24,527	'	'	'
Initial Cost	'	'	'	'
Land	9,506	'	'	'
Buildings and Improvements	32,892	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	1,553	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	9,506	'	'	'
Buildings and Improvements	34,445	'	'	'
Total	43,951	'	'	'
Accumulated Depreciation	16,120	'	'	'
Community/Lifestyle Centers | Markland Plaza, Kokomo, IN	'	'	'	'
Initial Cost	'	'	'	'
Land	206	'	'	'
Buildings and Improvements	738	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	6,328	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	206	'	'	'
Buildings and Improvements	7,066	'	'	'
Total	7,272	'	'	'
Accumulated Depreciation	3,907	'	'	'
Community/Lifestyle Centers | Martinsville Plaza, Martinsville, VA	'	'	'	'
Initial Cost	'	'	'	'
Buildings and Improvements	584	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	461	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Buildings and Improvements	1,045	'	'	'
Total	1,045	'	'	'
Accumulated Depreciation	846	'	'	'
Community/Lifestyle Centers | Matteson Plaza, Matteson (Chicago), IL	'	'	'	'
Initial Cost	'	'	'	'
Land	1,771	'	'	'
Buildings and Improvements	9,737	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	3,604	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	1,771	'	'	'
Buildings and Improvements	13,341	'	'	'
Total	15,112	'	'	'
Accumulated Depreciation	8,081	'	'	'
Community/Lifestyle Centers | Muncie Towne Plaza, Muncie, IN	'	'	'	'
Real Estate and Accumulated Depreciation	'	'	'	'
Encumbrances as of Year End	6,907	'	'	'
Initial Cost	'	'	'	'
Land	267	'	'	'
Buildings and Improvements	10,509	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Land	87	'	'	'
Buildings and Improvements	2,777	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	354	'	'	'
Buildings and Improvements	13,286	'	'	'
Total	13,640	'	'	'
Accumulated Depreciation	6,147	'	'	'
Community/Lifestyle Centers | Naples Outlet Center, Naples, FL	'	'	'	'
Real Estate and Accumulated Depreciation	'	'	'	'
Encumbrances as of Year End	15,718	'	'	'
Initial Cost	'	'	'	'
Land	1,514	'	'	'
Buildings and Improvements	519	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	44	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	1,514	'	'	'
Buildings and Improvements	563	'	'	'
Total	2,077	'	'	'
Accumulated Depreciation	409	'	'	'
Community/Lifestyle Centers | New Castle Plaza, New Castle, IN	'	'	'	'
Initial Cost	'	'	'	'
Land	128	'	'	'
Buildings and Improvements	1,621	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	1,608	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	128	'	'	'
Buildings and Improvements	3,229	'	'	'
Total	3,357	'	'	'
Accumulated Depreciation	1,876	'	'	'
Community/Lifestyle Centers | North Ridge Shopping Center, Raleigh, NC	'	'	'	'
Real Estate and Accumulated Depreciation	'	'	'	'
Encumbrances as of Year End	12,500	'	'	'
Initial Cost	'	'	'	'
Land	385	'	'	'
Buildings and Improvements	12,838	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	1,512	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	385	'	'	'
Buildings and Improvements	14,350	'	'	'
Total	14,735	'	'	'
Accumulated Depreciation	3,956	'	'	'
Community/Lifestyle Centers | Northwood Plaza, Fort Wayne, IN	'	'	'	'
Initial Cost	'	'	'	'
Land	148	'	'	'
Buildings and Improvements	1,414	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	2,151	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	148	'	'	'
Buildings and Improvements	3,565	'	'	'
Total	3,713	'	'	'
Accumulated Depreciation	2,336	'	'	'
Community/Lifestyle Centers | Palms Crossing, McAllen, TX	'	'	'	'
Real Estate and Accumulated Depreciation	'	'	'	'
Encumbrances as of Year End	37,179	'	'	'
Initial Cost	'	'	'	'
Land	13,496	'	'	'
Buildings and Improvements	45,925	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	9,232	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	13,496	'	'	'
Buildings and Improvements	55,157	'	'	'
Total	68,653	'	'	'
Accumulated Depreciation	15,868	'	'	'
Community/Lifestyle Centers | Richardson Square, Richardson (Dallas), TX	'	'	'	'
Initial Cost	'	'	'	'
Land	6,285	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Land	990	'	'	'
Buildings and Improvements	15,021	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	7,275	'	'	'
Buildings and Improvements	15,021	'	'	'
Total	22,296	'	'	'
Accumulated Depreciation	3,167	'	'	'
Community/Lifestyle Centers | Rockaway Commons, Rockaway (New York), NJ	'	'	'	'
Initial Cost	'	'	'	'
Land	5,149	'	'	'
Buildings and Improvements	26,435	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	8,443	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	5,149	'	'	'
Buildings and Improvements	34,878	'	'	'
Total	40,027	'	'	'
Accumulated Depreciation	12,129	'	'	'
Community/Lifestyle Centers | Rockaway Town Plaza, Rockaway (New York), NJ	'	'	'	'
Initial Cost	'	'	'	'
Buildings and Improvements	18,698	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Land	2,225	'	'	'
Buildings and Improvements	3,225	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	2,225	'	'	'
Buildings and Improvements	21,923	'	'	'
Total	24,148	'	'	'
Accumulated Depreciation	6,157	'	'	'
Community/Lifestyle Centers | Shops at Arbor Walk, The, Austin, TX	'	'	'	'
Real Estate and Accumulated Depreciation	'	'	'	'
Encumbrances as of Year End	42,020	'	'	'
Initial Cost	'	'	'	'
Buildings and Improvements	42,546	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	6,124	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Buildings and Improvements	48,670	'	'	'
Total	48,670	'	'	'
Accumulated Depreciation	12,828	'	'	'
Community/Lifestyle Centers | Shops at North East Mall, The, Hurst (Dallas), TX	'	'	'	'
Initial Cost	'	'	'	'
Land	12,541	'	'	'
Buildings and Improvements	28,177	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Land	402	'	'	'
Buildings and Improvements	5,835	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	12,943	'	'	'
Buildings and Improvements	34,012	'	'	'
Total	46,955	'	'	'
Accumulated Depreciation	18,837	'	'	'
Community/Lifestyle Centers | St. Charles Towne Plaza, Waldorf (Washington, D.C.), MD	'	'	'	'
Initial Cost	'	'	'	'
Land	8,216	'	'	'
Buildings and Improvements	18,993	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	4,477	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	8,216	'	'	'
Buildings and Improvements	23,470	'	'	'
Total	31,686	'	'	'
Accumulated Depreciation	13,191	'	'	'
Community/Lifestyle Centers | Tippecanoe Plaza, Lafayette, IN	'	'	'	'
Initial Cost	'	'	'	'
Buildings and Improvements	745	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Land	234	'	'	'
Buildings and Improvements	5,298	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	234	'	'	'
Buildings and Improvements	6,043	'	'	'
Total	6,277	'	'	'
Accumulated Depreciation	3,784	'	'	'
Community/Lifestyle Centers | University Center, Mishawaka, IN	'	'	'	'
Initial Cost	'	'	'	'
Land	3,071	'	'	'
Buildings and Improvements	7,413	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	3,103	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	3,071	'	'	'
Buildings and Improvements	10,516	'	'	'
Total	13,587	'	'	'
Accumulated Depreciation	9,047	'	'	'
Community/Lifestyle Centers | University Town Plaza, Pensacola, FL	'	'	'	'
Initial Cost	'	'	'	'
Land	6,009	'	'	'
Buildings and Improvements	26,945	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	6,009	'	'	'
Buildings and Improvements	26,945	'	'	'
Total	32,954	'	'	'
Accumulated Depreciation	811	'	'	'
Community/Lifestyle Centers | Washington Plaza, Indianapolis, IN	'	'	'	'
Initial Cost	'	'	'	'
Land	941	'	'	'
Buildings and Improvements	1,697	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	1,221	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	941	'	'	'
Buildings and Improvements	2,918	'	'	'
Total	3,859	'	'	'
Accumulated Depreciation	2,708	'	'	'
Community/Lifestyle Centers | Waterford Lakes Town Center, Orlando, FL	'	'	'	'
Initial Cost	'	'	'	'
Land	8,679	'	'	'
Buildings and Improvements	72,836	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	17,229	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	8,679	'	'	'
Buildings and Improvements	90,065	'	'	'
Total	98,744	'	'	'
Accumulated Depreciation	46,600	'	'	'
Community/Lifestyle Centers | West Ridge Plaza, Topeka, KS	'	'	'	'
Initial Cost	'	'	'	'
Land	1,376	'	'	'
Buildings and Improvements	4,560	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	3,841	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	1,376	'	'	'
Buildings and Improvements	8,401	'	'	'
Total	9,777	'	'	'
Accumulated Depreciation	3,758	'	'	'
Community/Lifestyle Centers | White Oaks Plaza, Springfield, IL	'	'	'	'
Real Estate and Accumulated Depreciation	'	'	'	'
Encumbrances as of Year End	13,813	'	'	'
Initial Cost	'	'	'	'
Land	3,169	'	'	'
Buildings and Improvements	14,267	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	6,546	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	3,169	'	'	'
Buildings and Improvements	20,813	'	'	'
Total	23,982	'	'	'
Accumulated Depreciation	9,581	'	'	'
Community/Lifestyle Centers | Wolf Ranch, Georgetown (Austin), TX	'	'	'	'
Initial Cost	'	'	'	'
Land	21,999	'	'	'
Buildings and Improvements	51,547	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	11,897	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	21,999	'	'	'
Buildings and Improvements	63,444	'	'	'
Total	85,443	'	'	'
Accumulated Depreciation	19,338	'	'	'
Other Properties | Florida Keys Outlet Center, Florida City, FL	'	'	'	'
Real Estate and Accumulated Depreciation	'	'	'	'
Encumbrances as of Year End	10,454	'	'	'
Initial Cost	'	'	'	'
Land	1,560	'	'	'
Buildings and Improvements	1,748	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	1,457	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	1,560	'	'	'
Buildings and Improvements	3,205	'	'	'
Total	4,765	'	'	'
Accumulated Depreciation	1,065	'	'	'
Other Properties | Huntley Outlet Center, Huntley, IL	'	'	'	'
Real Estate and Accumulated Depreciation	'	'	'	'
Encumbrances as of Year End	29,243	'	'	'
Initial Cost	'	'	'	'
Land	3,477	'	'	'
Buildings and Improvements	2,027	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	335	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	3,477	'	'	'
Buildings and Improvements	2,362	'	'	'
Total	5,839	'	'	'
Accumulated Depreciation	706	'	'	'
Other Properties | Northfield Square, Bourbonnais , IL	'	'	'	'
Real Estate and Accumulated Depreciation	'	'	'	'
Encumbrances as of Year End	24,970	'	'	'
Initial Cost	'	'	'	'
Land	362	'	'	'
Buildings and Improvements	53,396	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	3,520	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	362	'	'	'
Buildings and Improvements	56,916	'	'	'
Total	57,278	'	'	'
Accumulated Depreciation	39,539	'	'	'
Other Properties | Outlet Marketplace, Orlando , FL	'	'	'	'
Initial Cost	'	'	'	'
Land	3,367	'	'	'
Buildings and Improvements	1,557	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	218	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	3,367	'	'	'
Buildings and Improvements	1,775	'	'	'
Total	5,142	'	'	'
Accumulated Depreciation	783	'	'	'
Other Properties | Upper Valley Mall, Springfield, OH	'	'	'	'
Real Estate and Accumulated Depreciation	'	'	'	'
Encumbrances as of Year End	42,447	'	'	'
Initial Cost	'	'	'	'
Land	8,421	'	'	'
Buildings and Improvements	38,745	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	10,590	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	8,421	'	'	'
Buildings and Improvements	49,335	'	'	'
Total	57,756	'	'	'
Accumulated Depreciation	25,515	'	'	'
Other Properties | Washington Square, Indianapolis, IN	'	'	'	'
Real Estate and Accumulated Depreciation	'	'	'	'
Encumbrances as of Year End	24,676	'	'	'
Initial Cost	'	'	'	'
Land	6,319	'	'	'
Buildings and Improvements	36,495	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	11,713	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	6,319	'	'	'
Buildings and Improvements	48,208	'	'	'
Total	54,527	'	'	'
Accumulated Depreciation	46,965	'	'	'
Development Projects | Other pre-development costs	'	'	'	'
Initial Cost	'	'	'	'
Land	78,483	'	'	'
Buildings and Improvements	19,142	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	78,483	'	'	'
Buildings and Improvements	19,142	'	'	'
Total	97,625	'	'	'
Accumulated Depreciation	3,284	'	'	'
Other	'	'	'	'
Initial Cost	'	'	'	'
Land	2,614	'	'	'
Buildings and Improvements	8,007	'	'	'
Costs Capitalized Subsequent to Acquisition	'	'	'	'
Buildings and Improvements	201	'	'	'
Gross Amounts At Which Carried At Close of Period	'	'	'	'
Land	2,614	'	'	'
Buildings and Improvements	8,208	'	'	'
Total	10,822	'	'	'
Accumulated Depreciation	$3,226	'	'	'

Schedule_III_Real_Estate_and_A2

Schedule III Real Estate and Accumulated Depreciation (Details 2) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Reconciliation of Real Estate Properties:	'	'	'
Balance, beginning of year	$33,924,377	$29,333,330	$27,192,223
Acquisitions and consolidations	288,835	4,438,848	2,068,452
Improvements	958,971	833,083	552,455
Disposals and deconsolidations	-399,023	-680,884	-479,800
Balance, close of year	34,773,160	33,924,377	29,333,330
Unaudited aggregate cost of real estate for federal income tax purposes	29,419,072	'	'
Reconciliation of Accumulated Depreciation:	'	'	'
Balance, beginning of year	8,836,695	8,148,170	7,485,821
Depreciation expense	1,108,602	1,069,607	906,554
Disposals and deconsolidations	-128,207	-381,082	-244,205
Balance, close of year	$9,817,090	$8,836,695	$8,148,170
Structure | Maximum	'	'	'
Estimated original lives	'	'	'
Depreciable life	'35 years	'	'
Structure | Minimum	'	'	'
Estimated original lives	'	'	'
Depreciable life	'10 years	'	'
Landscaping and parking lot	'	'	'
Estimated original lives	'	'	'
Depreciable life	'15 years	'	'
HVAC equipment	'	'	'
Estimated original lives	'	'	'
Depreciable life	'10 years	'	'