Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Feb. 23, 2018 | Jun. 30, 2017 | |
Entity Information [Line Items] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Dec. 31, 2017 | ||
Document Fiscal Year Focus | 2,017 | ||
Document Fiscal Period Focus | FY | ||
Entity Registrant Name | REGENCY CENTERS CORP | ||
Entity Central Index Key | 910,606 | ||
Entity well-known seasoned filer | Yes | ||
Entity voluntary filer | No | ||
Entity Current Reporting Status | Yes | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Common Stock Shares Outstanding | 170,794,466 | ||
Public Float | $ 9,302,533,353 | ||
Partnership Interest [Member] | |||
Entity Information [Line Items] | |||
Entity Registrant Name | REGENCY CENTERS LP | ||
Entity Central Index Key | 1,066,247 | ||
Entity Filer Category | Accelerated Filer |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Document Fiscal Year Focus | 2,017 | |
Real estate investments at cost (notes 1, 2 and 3): | ||
Investments in real estate partnerships (note 4) | $ 386,304 | $ 296,699 |
Acquired lease intangible assets, less accumulated amortization of $148,280 and $56,695 at December 31, 2017 and 2016, respectively (note 5) | 478,826 | 118,831 |
Liabilities: | ||
Notes payable (note 7) | 2,971,715 | 1,363,925 |
Unsecured Debt | 623,262 | 278,495 |
Parent Company [Member] | ||
Real estate investments at cost (notes 1, 2 and 3): | ||
Land | 4,667,744 | 1,660,424 |
Buildings and improvements | 5,910,686 | 3,092,197 |
Properties in development | 314,391 | 180,878 |
Gross real estate investments at cost | 10,892,821 | 4,933,499 |
Less: accumulated depreciation | 1,339,771 | 1,124,391 |
Total Cost Net of Accumulated Depreciation | 9,553,050 | 3,809,108 |
Investments in real estate partnerships (note 4) | 386,304 | 296,699 |
Net real estate investments | 9,939,354 | 4,105,807 |
Cash and cash equivalents | 45,370 | 13,256 |
Restricted cash | 4,011 | 4,623 |
Accounts and Notes Receivable, Net | 170,985 | 111,722 |
Deferred Costs | 80,044 | 69,000 |
Acquired lease intangible assets, less accumulated amortization of $148,280 and $56,695 at December 31, 2017 and 2016, respectively (note 5) | 478,826 | 118,831 |
Other assets (note 1) | 427,127 | 65,667 |
Total assets | 11,145,717 | 4,488,906 |
Liabilities: | ||
Notes payable (note 7) | 2,971,715 | 1,363,925 |
Unsecured Debt | 623,262 | 278,495 |
Accounts payable and other liabilities | 234,272 | 138,936 |
Acquired lease intangible liabilities, less accumulated amortization of $56,550 and $23,538 at December 31, 2017 and 2016, respectively (note 5) | 537,401 | 54,180 |
Tenants’ security and escrow deposits and prepaid rent | 46,013 | 28,868 |
Total liabilities | 4,412,663 | 1,864,404 |
Commitments and contingencies (notes 14 and 15) | 0 | 0 |
Stockholders’ equity (note 10): | ||
Preferred stock, $0.01 par value per share, 30,000,000 shares authorized; 13,000,000 Series 6 and 7 shares issued and outstanding at December 31, 2013 and December 31, 2012, with liquidation preferences of $25 per share | 0 | 325,000 |
Common stock $0.01 par value per share, 220,000,000 and 150,000,000 shares authorized; 171,364,908 and 104,497,286 shares issued at December 31, 2017 and 2016, respectively | 1,714 | 1,045 |
Treasury Stock, Value | 18,307 | 17,062 |
Additional paid-in capital | 7,873,104 | 3,294,923 |
Accumulated other comprehensive loss | (6,289) | (18,346) |
Distributions in excess of net income | (1,158,170) | (994,259) |
Total stockholders’ equity | 6,692,052 | 2,591,301 |
Noncontrolling interests (note 10): | ||
Noncontrolling Interest in Operating Partnerships | 10,907 | (1,967) |
Limited partners’ interests in consolidated partnerships | 30,095 | 35,168 |
Total noncontrolling interests | 41,002 | 33,201 |
Total equity | 6,733,054 | 2,624,502 |
Total liabilities and equity | 11,145,717 | 4,488,906 |
Partnership Interest [Member] | ||
Real estate investments at cost (notes 1, 2 and 3): | ||
Land | 4,667,744 | 1,660,424 |
Buildings and improvements | 5,910,686 | 3,092,197 |
Properties in development | 314,391 | 180,878 |
Gross real estate investments at cost | 10,892,821 | 4,933,499 |
Less: accumulated depreciation | 1,339,771 | 1,124,391 |
Total Cost Net of Accumulated Depreciation | 9,553,050 | 3,809,108 |
Investments in real estate partnerships (note 4) | 386,304 | 296,699 |
Net real estate investments | 9,939,354 | 4,105,807 |
Cash and cash equivalents | 45,370 | 13,256 |
Restricted cash | 4,011 | 4,623 |
Accounts and Notes Receivable, Net | 170,985 | 111,722 |
Deferred Costs | 80,044 | 69,000 |
Acquired lease intangible assets, less accumulated amortization of $148,280 and $56,695 at December 31, 2017 and 2016, respectively (note 5) | 478,826 | 118,831 |
Other assets (note 1) | 427,127 | 65,667 |
Total assets | 11,145,717 | 4,488,906 |
Liabilities: | ||
Notes payable (note 7) | 2,971,715 | 1,363,925 |
Unsecured Debt | 623,262 | 278,495 |
Accounts payable and other liabilities | 234,272 | 138,936 |
Acquired lease intangible liabilities, less accumulated amortization of $56,550 and $23,538 at December 31, 2017 and 2016, respectively (note 5) | 537,401 | 54,180 |
Tenants’ security and escrow deposits and prepaid rent | 46,013 | 28,868 |
Total liabilities | 4,412,663 | 1,864,404 |
Commitments and contingencies (notes 14 and 15) | 0 | 0 |
Stockholders’ equity (note 10): | ||
Preferred Units General Partner | 0 | 325,000 |
General partner; 171,364,908 and 104,497,286 units outstanding at December 31, 2017 and 2016, respectively | 6,698,341 | 2,284,647 |
Limited Partners' Capital Account | 10,907 | (1,967) |
Accumulated other comprehensive loss | (6,289) | (18,346) |
Total partners’ capital | 6,702,959 | 2,589,334 |
Noncontrolling interests (note 10): | ||
Limited partners’ interests in consolidated partnerships | 30,095 | 35,168 |
Total noncontrolling interests | 30,095 | 35,168 |
Total equity | 6,733,054 | 2,624,502 |
Total liabilities and equity | $ 11,145,717 | $ 4,488,906 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Accumulated amortization of acquired lease intangible assets | $ (148,280) | $ (56,695) |
General Partners' Capital Account, Units Outstanding | 171,364,908 | 104,497,000 |
Limited Partners' Capital Account, Units Outstanding | 350,000 | 154,000 |
Parent Company [Member] | ||
Deferred costs accumulated amortization | $ 93,291 | $ 83,529 |
Accumulated amortization of acquired lease intangible assets | 148,280 | 56,695 |
Accumulated accretion of acquired lease intangible liabilities | $ 56,550 | $ 23,538 |
Preferred stock, par value per share | $ 0.01 | $ 0.01 |
Preferred stock, shares authorized | 30,000,000 | 30,000,000 |
Preferred units of Series 3-5, units issued | 0 | 13,000,000 |
Preferred units of Series 3-5, units outstanding | 0 | 13,000,000 |
Preferred stock, liquidation preferences per share | $ 25 | $ 25 |
Common stock, par value per share | $ 0.01 | $ 0.01 |
Common stock, shares authorized | 220,000,000 | 150,000,000 |
Common Stock, Shares, Issued | 171,364,908 | 104,497,286 |
Treasury stock, shares held at cost | 366,628 | 347,903 |
Exchangeable operating partnership units aggregate redemption value | $ 24,206 | $ 10,630 |
Partnership Interest [Member] | ||
Deferred costs accumulated amortization | 93,291 | 83,529 |
Accumulated amortization of acquired lease intangible assets | 148,546 | 56,694 |
Accumulated accretion of acquired lease intangible liabilities | $ 57,170 | $ 23,538 |
Preferred stock, par value per share | $ 0.01 | $ 0.01 |
Preferred units of Series 3-5, units issued | 0 | 13,000,000 |
Preferred units of Series 3-5, units outstanding | 0 | 13,000,000 |
Preferred stock, liquidation preferences per share | $ 25 | $ 25 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Document Fiscal Year Focus | 2,017 | ||
Revenues: | |||
Recoveries from tenants and other income | $ 14,825 | $ 9,221 | |
Other expense (income) [Abstract] | |||
Provision for impairment | 0 | 1,700 | $ 0 |
Equity in income of investments in real estate partnerships (note 4) | 43,341 | 56,518 | 22,508 |
Federal Income Tax Expense (Benefit), Continuing Operations | (9,647) | (153) | (1,604) |
Gain (Loss) on Sale of Properties, Net of Applicable Income Taxes | 27,432 | 47,321 | 35,606 |
Parent Company [Member] | |||
Revenues: | |||
Minimum rent | 728,078 | 444,305 | 415,155 |
Percentage rent | 6,635 | 4,128 | 3,750 |
Recoveries from tenants and other income | 223,455 | 140,611 | 125,295 |
Management Fees Revenue | 26,158 | 25,327 | 25,563 |
Total revenues | 984,326 | 614,371 | 569,763 |
Operating expenses: | |||
Depreciation and amortization | 334,201 | 162,327 | 146,829 |
Operating and maintenance | 143,990 | 95,022 | 82,978 |
General and administrative | 67,624 | 65,327 | 65,600 |
Real estate taxes | 109,723 | 66,395 | 61,855 |
Other operating expenses | 89,225 | 14,081 | 7,836 |
Total operating expenses | 744,763 | 403,152 | 365,098 |
Other expense (income) [Abstract] | |||
Interest Expense | 132,629 | 90,712 | 102,622 |
Provision for impairment | 0 | 4,200 | 0 |
Early extinguishment of debt | 12,449 | 14,240 | 8,239 |
Net investment income, including unrealized (gains) losses of ($1,136), ($773), and $1,734 in 2017, 2016, and 2015, respectively (note 12) | 3,985 | 1,672 | 625 |
Gain (Loss) on Derivative Instruments, Net, Pretax | 0 | 40,586 | 0 |
Nonoperating Income (Expense) | (141,093) | (148,066) | (110,236) |
Income from operations before equity in income of investments in real estate partnerships and income taxes | 98,470 | 63,153 | 94,429 |
Equity in income of investments in real estate partnerships (note 4) | 43,341 | 56,518 | 22,508 |
Federal Income Tax Expense (Benefit), Continuing Operations | (9,737) | 0 | 0 |
Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | 151,548 | 119,671 | 116,937 |
Gain (Loss) on Sale of Properties, Net of Applicable Income Taxes | 27,432 | 47,321 | 35,606 |
Net income | 178,980 | 166,992 | 152,543 |
Noncontrolling interests: | |||
Noncontrolling Interest in Net Income (Loss) Operating Partnerships, Nonredeemable | (388) | (257) | (240) |
Noncontrolling Interest in Net Income (Loss) Limited Partnerships, Nonredeemable | (2,515) | (1,813) | (2,247) |
Income attributable to noncontrolling interests | (2,903) | (2,070) | (2,487) |
Net income attributable to the Company | 176,077 | 164,922 | 150,056 |
Preferred stock dividends and issuance costs | (16,128) | (21,062) | (21,062) |
Net Income (Loss) Available to Common Stockholders, Basic | $ 159,949 | $ 143,860 | $ 128,994 |
Continuing operations (in dollars per share) | $ 1 | $ 1.43 | $ 1.37 |
Continuing operations (in dollars per share) | $ 1 | $ 1.42 | $ 1.36 |
Partnership Interest [Member] | |||
Revenues: | |||
Minimum rent | $ 728,078 | $ 444,305 | $ 415,155 |
Percentage rent | 6,635 | 4,128 | 3,750 |
Recoveries from tenants and other income | 223,455 | 140,611 | 125,295 |
Management Fees Revenue | 26,158 | 25,327 | 25,563 |
Total revenues | 984,326 | 614,371 | 569,763 |
Operating expenses: | |||
Depreciation and amortization | 334,201 | 162,327 | 146,829 |
Operating and maintenance | 143,990 | 95,022 | 82,978 |
General and administrative | 67,624 | 65,327 | 65,600 |
Real estate taxes | 109,723 | 66,395 | 61,855 |
Other operating expenses | 89,225 | 14,081 | 7,836 |
Total operating expenses | 744,763 | 403,152 | 365,098 |
Other expense (income) [Abstract] | |||
Interest Expense | 132,629 | 90,712 | 102,622 |
Provision for impairment | 0 | 4,200 | 0 |
Early extinguishment of debt | 12,449 | 14,240 | 8,239 |
Net investment income, including unrealized (gains) losses of ($1,136), ($773), and $1,734 in 2017, 2016, and 2015, respectively (note 12) | 3,985 | 1,672 | 625 |
Gain (Loss) on Derivative Instruments, Net, Pretax | 0 | 40,586 | 0 |
Nonoperating Income (Expense) | (141,093) | (148,066) | (110,236) |
Income from operations before equity in income of investments in real estate partnerships and income taxes | 98,470 | 63,153 | 94,429 |
Equity in income of investments in real estate partnerships (note 4) | 43,341 | 56,518 | 22,508 |
Federal Income Tax Expense (Benefit), Continuing Operations | (9,737) | 0 | 0 |
Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | 151,548 | 119,671 | 116,937 |
Gain (Loss) on Sale of Properties, Net of Applicable Income Taxes | 27,432 | 47,321 | 35,606 |
Net income | 178,980 | 166,992 | 152,543 |
Noncontrolling interests: | |||
Noncontrolling Interest in Net Income (Loss) Limited Partnerships, Nonredeemable | (2,515) | (1,813) | (2,247) |
Income attributable to noncontrolling interests | (2,515) | (1,813) | (2,247) |
Net income attributable to the Company | 176,465 | 165,179 | 150,296 |
Preferred unit distributions | (16,128) | (21,062) | (21,062) |
Net (loss) income attributable to common unit holders | $ 160,337 | $ 144,117 | $ 129,234 |
Continuing operations (in dollars per share) | $ 1 | $ 1.43 | $ 1.37 |
Continuing operations (in dollars per share) | $ 1 | $ 1.42 | $ 1.36 |
Consolidated Statements of Ope5
Consolidated Statements of Operations (Parenthetical) - Parent Company [Member] - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Interest Income | $ 1,811 | $ 1,180 | $ 1,590 |
Trading Securities, Change in Unrealized Holding Gain (Loss) | $ (1,136) | $ (773) | $ 1,734 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Other comprehensive (loss) income: | |||
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net | $ 1,151 | $ (10,332) | $ (10,089) |
Parent Company [Member] | |||
Net income | 178,980 | 166,992 | 152,543 |
Other comprehensive (loss) income: | |||
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net | 1,151 | (10,332) | (10,089) |
Reclassification adjustment of derivative instruments included in net income | 11,103 | 51,139 | 9,152 |
Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, before Tax | (8) | 24 | (43) |
Other comprehensive income (loss) | 12,246 | 40,831 | (980) |
Comprehensive income | 191,226 | 207,823 | 151,563 |
Less: comprehensive income (loss) attributable to noncontrolling interests: | |||
Net income attributable to noncontrolling interests | 2,903 | 2,070 | 2,487 |
Comprehensive income attributable to noncontrolling interests | 3,092 | 2,554 | 2,452 |
Comprehensive income attributable to the Company | 188,134 | 205,269 | 149,111 |
Partnership Interest [Member] | |||
Net income | 178,980 | 166,992 | 152,543 |
Other comprehensive (loss) income: | |||
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net | 1,151 | (10,332) | (10,089) |
Reclassification adjustment of derivative instruments included in net income | 11,103 | 51,139 | 9,152 |
Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, before Tax | (8) | 24 | (43) |
Other comprehensive income (loss) | 12,246 | 40,831 | (980) |
Comprehensive income | 191,226 | 207,823 | 151,563 |
Less: comprehensive income (loss) attributable to noncontrolling interests: | |||
Net income attributable to noncontrolling interests | 2,515 | 1,813 | 2,247 |
Other Comprehensive (Income) Loss, Net of Tax, Portion Attributable to Noncontrolling Interest | 168 | 426 | (33) |
Comprehensive income attributable to noncontrolling interests | 2,683 | 2,239 | 2,214 |
Comprehensive income attributable to the Company | $ 188,543 | $ 205,584 | $ 149,349 |
Consolidated Statement of Chang
Consolidated Statement of Changes in Equity - USD ($) $ in Thousands | Parent Company [Member] | Preferred StockParent Company [Member] | Common StockParent Company [Member] | Treasury StockParent Company [Member] | Additional Paid-in Capital [Member]Parent Company [Member] | AOCI Attributable to Parent [Member] | AOCI Attributable to Parent [Member]Parent Company [Member] | Distributions in Excess of Net IncomeParent Company [Member] | Total Stockholders' Equity [Member]Parent Company [Member] | Noncontrolling Interest Exchangeable Operating Partnership Units [Member]Parent Company [Member] | Noncontrolling Interests in Limited Partners Interest in Consolidated Partnerships [Member]Parent Company [Member] | Noncontrolling Interest [Member]Parent Company [Member] | Common StockParent Company [Member] | Common StockPreferred StockParent Company [Member] | Common StockCommon StockParent Company [Member] | Common StockTreasury StockParent Company [Member] | Common StockAdditional Paid-in Capital [Member]Parent Company [Member] | Common StockAOCI Attributable to Parent [Member]Parent Company [Member] | Common StockDistributions in Excess of Net IncomeParent Company [Member] | Common StockTotal Stockholders' Equity [Member]Parent Company [Member] | Common StockNoncontrolling Interest Exchangeable Operating Partnership Units [Member]Parent Company [Member] | Common StockNoncontrolling Interests in Limited Partners Interest in Consolidated Partnerships [Member]Parent Company [Member] | Common StockNoncontrolling Interest [Member]Parent Company [Member] | Equity One Inc. [Member]Parent Company [Member] | Equity One Inc. [Member]Preferred StockParent Company [Member] | Equity One Inc. [Member]Common StockParent Company [Member] | Equity One Inc. [Member]Treasury StockParent Company [Member] | Equity One Inc. [Member]Additional Paid-in Capital [Member]Parent Company [Member] | Equity One Inc. [Member]AOCI Attributable to Parent [Member]Parent Company [Member] | Equity One Inc. [Member]Distributions in Excess of Net IncomeParent Company [Member] | Equity One Inc. [Member]Total Stockholders' Equity [Member]Parent Company [Member] | Equity One Inc. [Member]Noncontrolling Interest Exchangeable Operating Partnership Units [Member]Parent Company [Member] | Equity One Inc. [Member]Noncontrolling Interests in Limited Partners Interest in Consolidated Partnerships [Member]Parent Company [Member] | Equity One Inc. [Member]Noncontrolling Interest [Member]Parent Company [Member] |
Beginning balance at Dec. 31, 2014 | $ (1,936,482) | $ (325,000) | $ (941) | $ 19,382 | $ (2,540,153) | $ 57,748 | $ 882,372 | $ (1,906,592) | $ 1,914 | $ (31,804) | $ (29,890) | |||||||||||||||||||||||
Other comprehensive (loss) income: | ||||||||||||||||||||||||||||||||||
Net income | 152,543 | 0 | 0 | 0 | 0 | 0 | 150,056 | 240 | 2,247 | |||||||||||||||||||||||||
Net Income (Loss) Attributable to Noncontrolling Interest | 2,487 | 2,487 | ||||||||||||||||||||||||||||||||
Net Income (Loss) Attributable to Parent | 150,056 | |||||||||||||||||||||||||||||||||
Current period other comprehensive income, net | (980) | 0 | 0 | 0 | 0 | $ (945) | (945) | 0 | (945) | (2) | (33) | |||||||||||||||||||||||
Other Comprehensive (Income) Loss, Net of Tax, Portion Attributable to Noncontrolling Interest | (35) | |||||||||||||||||||||||||||||||||
Adjustments to Additional Paid in Capital, Share-based Compensation, Other Long-term Incentive Plans, Requisite Service Period Recognition | 0 | 0 | 0 | (276) | 276 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||||||||
Restricted stock issued, net of amortization | 13,869 | 0 | 0 | 0 | 13,869 | 0 | 0 | 13,869 | 0 | 0 | 0 | |||||||||||||||||||||||
Adjustments Related to Tax Withholding for Share-based Compensation | $ 9,706 | $ 0 | $ 0 | $ 0 | $ 9,706 | $ 0 | $ 0 | $ 9,706 | $ 0 | $ 0 | $ 0 | |||||||||||||||||||||||
Stock Issued During Period, Value, Dividend Reinvestment Plan | 1,250 | 1,250 | 0 | 0 | 0 | 1,250 | 0 | 0 | 1,250 | 0 | 0 | 0 | ||||||||||||||||||||||
Common stock issued for stock offerings, net of issuance costs | (198,494) | 0 | (31) | 0 | (198,463) | 0 | 0 | (198,494) | 0 | 0 | 0 | |||||||||||||||||||||||
Contributions from partners | 717 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 717 | 717 | |||||||||||||||||||||||
Partners' Capital Account, Distributions | 6,046 | 0 | 0 | 0 | 1,797 | 0 | 0 | 1,797 | 0 | 4,249 | 4,249 | |||||||||||||||||||||||
Cash dividends declared: | ||||||||||||||||||||||||||||||||||
Preferred stock/unit | (21,062) | 0 | 0 | 0 | 0 | 0 | 21,062 | (21,062) | 0 | 0 | 0 | |||||||||||||||||||||||
Common stock/unit | (182,941) | 0 | 0 | 0 | 0 | 0 | (182,642) | (182,642) | (299) | 0 | (299) | |||||||||||||||||||||||
Ending Balance at Dec. 31, 2015 | (2,082,620) | (325,000) | (972) | 19,658 | (2,742,508) | 58,693 | 936,020 | (2,054,109) | 1,975 | (30,486) | (28,511) | |||||||||||||||||||||||
Other comprehensive (loss) income: | ||||||||||||||||||||||||||||||||||
Net income | 166,992 | 0 | 0 | 0 | 0 | 0 | 164,922 | 257 | 1,813 | |||||||||||||||||||||||||
Net Income (Loss) Attributable to Noncontrolling Interest | 2,070 | 2,070 | ||||||||||||||||||||||||||||||||
Net Income (Loss) Attributable to Parent | 164,922 | |||||||||||||||||||||||||||||||||
Current period other comprehensive income, net | 40,831 | 0 | 0 | 0 | 0 | 40,347 | 40,347 | 0 | 40,347 | 58 | 426 | |||||||||||||||||||||||
Other Comprehensive (Income) Loss, Net of Tax, Portion Attributable to Noncontrolling Interest | 484 | |||||||||||||||||||||||||||||||||
Adjustments to Additional Paid in Capital, Share-based Compensation, Other Long-term Incentive Plans, Requisite Service Period Recognition | 0 | 0 | 0 | 2,596 | (2,596) | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||||||||
Restricted stock issued, net of amortization | 13,421 | 0 | 2 | 0 | 13,419 | 0 | 0 | 13,421 | 0 | 0 | 0 | |||||||||||||||||||||||
Adjustments Related to Tax Withholding for Share-based Compensation | 7,789 | 0 | 0 | 0 | 7,789 | 0 | 0 | 7,789 | 0 | 0 | 0 | |||||||||||||||||||||||
Stock Issued During Period, Value, Dividend Reinvestment Plan | 1,070 | 1,070 | 0 | 0 | 0 | 1,070 | 0 | 0 | 1,070 | 0 | 0 | 0 | ||||||||||||||||||||||
Common stock issued for stock offerings, net of issuance costs | (548,920) | 0 | (71) | 0 | (548,849) | 0 | 0 | (548,920) | 0 | 0 | 0 | |||||||||||||||||||||||
Partners' Capital Account, Redemptions | 0 | 0 | 0 | 0 | (538) | 0 | 0 | (538) | 0 | 538 | 538 | |||||||||||||||||||||||
Contributions from partners | 8,760 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 8,760 | 8,760 | |||||||||||||||||||||||
Partners' Capital Account, Distributions | 6,855 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 6,855 | 6,855 | |||||||||||||||||||||||
Cash dividends declared: | ||||||||||||||||||||||||||||||||||
Preferred stock/unit | (21,062) | 0 | 0 | 0 | 0 | 0 | 21,062 | (21,062) | 0 | 0 | 0 | |||||||||||||||||||||||
Common stock/unit | (202,406) | 0 | 0 | 0 | 0 | 0 | (202,099) | (202,099) | (307) | 0 | (307) | |||||||||||||||||||||||
Ending Balance at Dec. 31, 2016 | (2,624,502) | (325,000) | (1,045) | 17,062 | (3,294,923) | 18,346 | 994,259 | (2,591,301) | 1,967 | (35,168) | (33,201) | |||||||||||||||||||||||
Other comprehensive (loss) income: | ||||||||||||||||||||||||||||||||||
Net income | 178,980 | 0 | 0 | 0 | 0 | 0 | 176,077 | 388 | 2,515 | |||||||||||||||||||||||||
Net Income (Loss) Attributable to Noncontrolling Interest | 2,903 | 2,903 | ||||||||||||||||||||||||||||||||
Net Income (Loss) Attributable to Parent | 176,077 | |||||||||||||||||||||||||||||||||
Current period other comprehensive income, net | 12,246 | 0 | 0 | 0 | 0 | $ 12,057 | 12,057 | 0 | 12,057 | 21 | 168 | |||||||||||||||||||||||
Other Comprehensive (Income) Loss, Net of Tax, Portion Attributable to Noncontrolling Interest | 189 | |||||||||||||||||||||||||||||||||
Adjustments to Additional Paid in Capital, Share-based Compensation, Other Long-term Incentive Plans, Requisite Service Period Recognition | 9 | 0 | 0 | 1,245 | 1,236 | 0 | 0 | 9 | 0 | 0 | 0 | |||||||||||||||||||||||
Restricted stock issued, net of amortization | 15,295 | 0 | 2 | 0 | 15,293 | 0 | 0 | 15,295 | 0 | 0 | 0 | $ 7,951 | $ 0 | $ 1 | $ 0 | $ 7,950 | $ 0 | $ 0 | $ 7,951 | $ 0 | $ 0 | $ 0 | ||||||||||||
Adjustments Related to Tax Withholding for Share-based Compensation | 18,346 | 0 | (1) | 0 | 18,345 | 0 | 0 | 18,346 | 0 | 0 | 0 | |||||||||||||||||||||||
Stock Issued During Period, Value, Dividend Reinvestment Plan | 1,210 | 1,210 | 0 | 0 | 0 | 1,210 | 0 | 0 | 1,210 | 0 | 0 | 0 | ||||||||||||||||||||||
Common stock issued for stock offerings, net of issuance costs | $ (4,560,477) | $ 0 | $ (667) | $ 0 | $ (4,559,810) | $ 0 | $ 0 | $ (4,560,477) | $ 0 | $ 0 | $ 0 | |||||||||||||||||||||||
Partners' Capital Account, Redemptions | 0 | 0 | 0 | 0 | 72 | 0 | 0 | 72 | 0 | (72) | (72) | |||||||||||||||||||||||
Stock Redeemed or Called During Period, Value | 325,000 | 325,000 | 0 | 0 | 11,099 | 0 | 11,099 | 325,000 | 0 | 0 | 0 | |||||||||||||||||||||||
Contributions from partners | 13,478 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 13,100 | 378 | 13,478 | |||||||||||||||||||||||
Partners' Capital Account, Distributions | 8,206 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 8,206 | 8,206 | |||||||||||||||||||||||
Cash dividends declared: | ||||||||||||||||||||||||||||||||||
Preferred stock/unit | (5,029) | 0 | 0 | 0 | 0 | 0 | 5,029 | (5,029) | 0 | 0 | 0 | |||||||||||||||||||||||
Common stock/unit | (324,495) | 0 | 0 | 0 | 0 | 0 | (323,860) | (323,860) | (635) | 0 | (635) | |||||||||||||||||||||||
Ending Balance at Dec. 31, 2017 | $ (6,733,054) | $ 0 | $ (1,714) | $ 18,307 | $ (7,873,104) | $ 6,289 | $ 1,158,170 | $ (6,692,052) | $ (10,907) | $ (30,095) | $ (41,002) |
Consolidated Statement of Chan8
Consolidated Statement of Changes in Equity (Parenthetical) - $ / shares | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Parent Company [Member] | |||
Common stock/unit per share | $ 2.10 | $ 2 | $ 1.94 |
Consolidated Statement of Chan9
Consolidated Statement of Changes in Partnership Capital Statement - Partnership Interest [Member] - USD ($) $ in Thousands | Total | AOCI Attributable to Parent [Member] | Partners Capital Total [Member] | Noncontrolling Interest [Member] | General Partner [Member] | Limited Partner [Member] | Equity One Inc. [Member] | Equity One Inc. [Member]AOCI Attributable to Parent [Member] | Equity One Inc. [Member]Partners Capital Total [Member] | Equity One Inc. [Member]Noncontrolling Interest [Member] | Equity One Inc. [Member]General Partner [Member] | Equity One Inc. [Member]Limited Partner [Member] |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | $ 1,936,482 | $ (57,748) | $ 1,904,678 | $ 31,804 | $ 1,964,340 | $ (1,914) | ||||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | 152,543 | 0 | 150,296 | 2,247 | 150,056 | 240 | ||||||
Current period other comprehensive income, net | (980) | (945) | (947) | 0 | (2) | |||||||
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Noncontrolling Interest | (33) | |||||||||||
Partners' Capital Account, Contributions | 717 | 0 | 0 | 717 | 0 | 0 | ||||||
Partners' Capital Account, Distributions | 188,987 | 0 | 184,738 | 4,249 | 184,439 | 299 | ||||||
Dividends, Preferred Stock, Cash | 21,062 | 0 | (21,062) | 0 | (21,062) | 0 | ||||||
Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures | 13,869 | 0 | 13,869 | 0 | 13,869 | 0 | ||||||
Common unit issued as a result of common stock issued by Parent Company, net of purchases | 190,038 | 0 | 190,038 | 0 | 190,038 | 0 | ||||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 2,082,620 | (58,693) | 2,052,134 | 30,486 | 2,112,802 | (1,975) | ||||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | 166,992 | 0 | 165,179 | 1,813 | 164,922 | 257 | ||||||
Current period other comprehensive income, net | 40,831 | 40,347 | 40,405 | 0 | 58 | |||||||
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Noncontrolling Interest | 426 | |||||||||||
Partners' Capital Account, Contributions | 8,760 | 0 | 0 | 8,760 | 0 | 0 | ||||||
Partners' Capital Account, Distributions | 209,261 | 0 | 202,406 | 6,855 | 202,099 | 307 | ||||||
Partners' Capital Account, Redemptions | 0 | 0 | 538 | (538) | 538 | 0 | ||||||
Dividends, Preferred Stock, Cash | 21,062 | 0 | (21,062) | 0 | (21,062) | 0 | ||||||
Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures | 13,421 | 0 | 13,421 | 0 | 13,421 | 0 | ||||||
Common unit issued as a result of common stock issued by Parent Company, net of purchases | 542,201 | 0 | 542,201 | 0 | 542,201 | 0 | ||||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 2,624,502 | (18,346) | 2,589,334 | 35,168 | 2,609,647 | (1,967) | ||||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | 178,980 | 0 | 176,465 | 2,515 | 176,077 | 388 | ||||||
Current period other comprehensive income, net | 12,246 | 12,057 | 12,078 | 0 | 21 | |||||||
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Noncontrolling Interest | 168 | |||||||||||
Adjustments to Additional Paid in Capital, Share-based Compensation, Other Long-term Incentive Plans, Requisite Service Period Recognition | (9) | 0 | (9) | 0 | (9) | 0 | ||||||
Partners' Capital Account, Contributions | 13,478 | 0 | 13,100 | 378 | 0 | 13,100 | ||||||
Partners' Capital Account, Distributions | 332,701 | 0 | 324,495 | 8,206 | 323,860 | 635 | ||||||
Noncontrolling Interest, Decrease from Deconsolidation | 0 | 0 | (72) | 72 | (72) | 0 | ||||||
Dividends, Preferred Stock, Cash | 5,029 | 0 | (5,029) | 0 | (5,029) | 0 | ||||||
Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures | 15,295 | 0 | 15,295 | 0 | 15,295 | 0 | $ 7,951 | $ 0 | $ 7,951 | $ 0 | $ 7,951 | $ 0 |
Preferred Stock Redemption Premium | 325,000 | 0 | 325,000 | 0 | (325,000) | 0 | ||||||
Common unit issued as a result of common stock issued by Parent Company, net of purchases | 4,543,341 | 0 | 4,543,341 | 0 | 4,543,341 | 0 | ||||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | $ 6,733,054 | $ (6,289) | $ 6,702,959 | $ 30,095 | $ 6,698,341 | $ 10,907 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Document Fiscal Year Focus | 2,017 | ||
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Equity in income of investments in real estate partnerships | $ (43,341) | $ (56,518) | $ (22,508) |
Provision for impairment | 0 | 1,700 | 0 |
Deferred income tax expense (benefit) of taxable REIT subsidiary | (10,815) | 0 | 0 |
Changes in assets and liabilities: | |||
Straight-line rent receivable, net | (93,284) | (73,384) | |
Cash flows from investing activities: | |||
Proceeds from sale of real estate investments | 137,479 | 108,822 | |
Parent Company [Member] | |||
Cash flows from operating activities: | |||
Net income | 178,980 | 166,992 | 152,543 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation and amortization | 334,201 | 162,327 | 146,829 |
Amortization of deferred loan cost and debt premium | 9,509 | 9,762 | 9,677 |
Net accretion of above and below market lease intangibles, net | (23,144) | (3,879) | (1,598) |
Stock-based compensation, net of capitalization | 20,549 | 10,652 | 11,081 |
Equity in income of investments in real estate partnerships | (43,341) | (56,518) | (22,508) |
Gain Loss On Sale Of Properties Including Discontinued Operations | (27,432) | (47,321) | (35,606) |
Provision for impairment | 0 | 4,200 | 0 |
Early extinguishment of debt | 12,449 | 14,240 | 8,239 |
Deferred income tax expense (benefit) of taxable REIT subsidiary | (9,737) | 0 | 0 |
Proceeds from Equity Method Investment, Dividends or Distributions | 53,502 | 50,361 | 46,646 |
(Payments for) Proceeds from Settlement of Derivative Instrument | 0 | 0 | (7,267) |
Gain on derivative instruments | 76 | 0 | 0 |
Deferred compensation expense | 3,844 | 1,655 | 207 |
Net Realized and Unrealized Gain (Loss) on Trading Securities | 3,837 | 1,673 | 626 |
Changes in assets and liabilities: | |||
Increase (Decrease) in Restricted Cash for Operating Activities | 1,362 | 59 | 1,926 |
Accounts receivable, net | (7,077) | (1,581) | (2,059) |
Straight-line rent receivable, net | (19,004) | (7,219) | (8,231) |
Deferred leasing costs | (14,448) | (10,349) | (12,949) |
Other assets (note 1) | 9,536 | 673 | (496) |
Accounts payable and other liabilities | (2,114) | 5,543 | (3,810) |
Tenants’ security and escrow deposits and prepaid rent | (2,728) | (564) | 3,545 |
Net cash provided by operating activities | 471,146 | 297,360 | 285,543 |
Cash flows from investing activities: | |||
Acquisition of operating real estate | (124,727) | (333,220) | (42,983) |
Payments for (Proceeds from) Deposits on Real Estate Acquisitions | 4,917 | 750 | 2,250 |
Payments to Acquire Businesses, Net of Cash Acquired | (648,763) | 0 | 0 |
Real estate development and capital improvements | (347,780) | (234,598) | (205,103) |
Proceeds from sale of real estate investments | 112,161 | 135,269 | 108,822 |
Payments for (Proceeds from) Loans Receivable | (5,236) | 0 | 1,719 |
Investments in real estate partnerships | (23,529) | (37,879) | (20,054) |
Proceeds from Equity Method Investment, Dividends or Distributions, Return of Capital | 36,603 | 58,810 | 23,801 |
Payments for (Proceeds from) Other Investing Activities | 365 | 330 | 243 |
Acquisition of securities | (23,535) | (55,223) | (31,941) |
Proceeds from sale of securities | 21,378 | 57,590 | 28,400 |
Net cash used in investing activities | (1,007,980) | (409,671) | (139,346) |
Cash flows from financing activities: | |||
Proceeds from Issuance of Common Limited Partners Units | 88,458 | ||
Proceeds from Issuance of Common Stock | 548,920 | 198,494 | |
Payments Related to Tax Withholding for Share-based Compensation | (18,649) | (7,984) | (9,906) |
Proceeds from sale of treasury stock | 100 | 957 | 0 |
Payments for Repurchase of Common Stock | 0 | 29 | 0 |
Redemption of preferred stock and partnership units | (325,000) | 0 | 0 |
Proceeds from (Payments to) Noncontrolling Interests | (8,139) | (4,213) | (5,341) |
Payments of Ordinary Dividends, Noncontrolling Interest | (635) | (307) | (299) |
Dividends paid to common stockholders | (322,650) | (201,029) | (181,392) |
Dividends paid to preferred stockholders | (5,029) | (21,062) | (21,062) |
Repayment of fixed rate unsecured notes | 0 | (300,000) | (450,000) |
Proceeds from Issuance of Unsecured Debt | 953,115 | 0 | 248,160 |
Proceeds from unsecured credit facilities | 1,100,000 | 460,000 | 445,000 |
Repayment of unsecured credit facilities | (755,000) | (345,000) | (355,000) |
Proceeds from notes payable | 131,069 | 53,446 | 4,316 |
Repayment of notes payable | (232,839) | (72,803) | (76,168) |
Repayments of Secured Debt | 10,162 | 5,860 | 5,878 |
Payment of loan costs | (13,271) | (2,233) | (5,998) |
Payments of Debt Extinguishment Costs | (12,420) | (14,092) | (8,043) |
Net cash provided by (used in) financing activities | 568,948 | 88,711 | (223,117) |
Net increase (decrease) in cash and cash equivalents | 32,114 | (23,600) | (76,920) |
Cash and cash equivalents | 13,256 | 36,856 | 113,776 |
Cash and cash equivalents | 45,370 | 13,256 | 36,856 |
Supplemental disclosure of cash flow information: | |||
Cash paid for interest (net of capitalized interest of $000, $6,078, and $3,686 in 2014, 2013, and 2012, respectively) | 109,956 | 82,950 | 101,527 |
Income Taxes Paid | (269) | 0 | 1,015 |
Supplemental disclosure of non-cash transactions: | |||
Stock Issued During Period, Value, Conversion of Units | 13,100 | 0 | 0 |
Mortgage loans assumed for the acquisition of real estate | 27,000 | 0 | 42,799 |
Unrealized Gain (Loss) on Securities | (8) | 24 | (43) |
Stock Issued During Period, Value, Dividend Reinvestment Plan | 1,210 | 1,070 | 1,250 |
Contributions from limited partners in consolidated partnerships, net | 186 | 8,755 | 13 |
Common stock issued for dividend reinvestment in trust | 557 | 728 | 833 |
Stock-based compensation capitalized | 3,210 | 2,963 | 2,988 |
Contribution of stock awards into trust | 1,372 | 1,538 | 1,651 |
Distribution of stock held in trust | 677 | 4,114 | 1,898 |
Deconsolidation of consolidated partnership, Real estate, net | 0 | 14,144 | 0 |
Deconsolidation of consolidated partnership, Return of capital | 0 | (3,355) | 0 |
Deconsolidation of consolidated partnership, Mortgage Notes Payable | 0 | (9,415) | 0 |
Deconsolidation of consolidated partnership, Other assets and liabilities | 0 | 571 | 0 |
Deconsolidation of consolidated partnership, Noncontrolling Interest | 0 | (2,099) | 0 |
Partnership Interest [Member] | |||
Cash flows from operating activities: | |||
Net income | 178,980 | 166,992 | 152,543 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation and amortization | 334,201 | 162,327 | 146,829 |
Amortization of deferred loan cost and debt premium | 9,509 | 9,762 | 9,677 |
Net accretion of above and below market lease intangibles, net | (23,144) | (3,879) | (1,598) |
Stock-based compensation, net of capitalization | 20,549 | 10,652 | 11,081 |
Equity in income of investments in real estate partnerships | (43,341) | (56,518) | (22,508) |
Gain Loss On Sale Of Properties Including Discontinued Operations | (27,432) | (47,321) | (35,606) |
Provision for impairment | 0 | 4,200 | 0 |
Early extinguishment of debt | 12,449 | 14,240 | 8,239 |
Deferred income tax expense (benefit) of taxable REIT subsidiary | (9,737) | 0 | 0 |
Proceeds from Equity Method Investment, Dividends or Distributions | 53,502 | 50,361 | 46,646 |
(Payments for) Proceeds from Settlement of Derivative Instrument | 0 | 0 | (7,267) |
Gain on derivative instruments | 76 | 0 | 0 |
Deferred compensation expense | 3,844 | 1,655 | 207 |
Net Realized and Unrealized Gain (Loss) on Trading Securities | 3,837 | 1,673 | 626 |
Changes in assets and liabilities: | |||
Increase (Decrease) in Restricted Cash for Operating Activities | 1,362 | 59 | 1,926 |
Accounts receivable, net | (7,077) | (1,581) | (2,059) |
Straight-line rent receivable, net | (19,004) | (7,219) | (8,231) |
Deferred leasing costs | (14,448) | (10,349) | (12,949) |
Other assets (note 1) | 9,536 | 673 | (496) |
Accounts payable and other liabilities | (2,114) | 5,543 | (3,810) |
Tenants’ security and escrow deposits and prepaid rent | (2,728) | (564) | 3,545 |
Net cash provided by operating activities | 471,146 | 297,360 | 285,543 |
Cash flows from investing activities: | |||
Acquisition of operating real estate | (124,727) | (333,220) | (42,983) |
Payments for (Proceeds from) Deposits on Real Estate Acquisitions | 4,917 | 750 | 2,250 |
Payments to Acquire Businesses, Net of Cash Acquired | (648,763) | 0 | 0 |
Real estate development and capital improvements | (347,780) | (234,598) | (205,103) |
Proceeds from sale of real estate investments | 112,161 | 135,269 | 108,822 |
Payments for (Proceeds from) Loans Receivable | (5,236) | 0 | 1,719 |
Investments in real estate partnerships | (23,529) | (37,879) | (20,054) |
Proceeds from Equity Method Investment, Dividends or Distributions, Return of Capital | 36,603 | 58,810 | 23,801 |
Payments for (Proceeds from) Other Investing Activities | 365 | 330 | 243 |
Acquisition of securities | (23,535) | (55,223) | (31,941) |
Proceeds from sale of securities | 21,378 | 57,590 | 28,400 |
Net cash used in investing activities | (1,007,980) | (409,671) | (139,346) |
Cash flows from financing activities: | |||
Proceeds from Issuance of Common Limited Partners Units | 88,458 | 548,920 | 198,494 |
Payments Related to Tax Withholding for Share-based Compensation | (18,649) | (7,984) | (9,906) |
Proceeds from sale of treasury stock | 100 | 957 | 0 |
Payments for Repurchase of Common Stock | 0 | 29 | 0 |
Redemption of preferred stock and partnership units | (325,000) | 0 | 0 |
Proceeds from (Payments to) Noncontrolling Interests | (8,139) | (4,213) | (5,341) |
Dividends paid to common stockholders | (323,285) | (201,336) | (181,691) |
Dividends paid to preferred stockholders | (5,029) | (21,062) | (21,062) |
Repayment of fixed rate unsecured notes | 0 | (300,000) | (450,000) |
Proceeds from Issuance of Unsecured Debt | 953,115 | 0 | 248,160 |
Proceeds from unsecured credit facilities | 1,100,000 | 460,000 | 445,000 |
Repayment of unsecured credit facilities | (755,000) | (345,000) | (355,000) |
Proceeds from notes payable | 131,069 | 53,446 | 4,316 |
Repayment of notes payable | (232,839) | (72,803) | (76,168) |
Repayments of Secured Debt | 10,162 | 5,860 | 5,878 |
Payment of loan costs | (13,271) | (2,233) | (5,998) |
Payments of Debt Extinguishment Costs | (12,420) | (14,092) | (8,043) |
Net cash provided by (used in) financing activities | 568,948 | 88,711 | (223,117) |
Net increase (decrease) in cash and cash equivalents | 32,114 | (23,600) | (76,920) |
Cash and cash equivalents | 13,256 | 36,856 | 113,776 |
Cash and cash equivalents | 45,370 | 13,256 | 36,856 |
Supplemental disclosure of cash flow information: | |||
Cash paid for interest (net of capitalized interest of $000, $6,078, and $3,686 in 2014, 2013, and 2012, respectively) | 109,956 | 82,950 | 101,527 |
Supplemental disclosure of non-cash transactions: | |||
Stock Issued During Period, Value, Conversion of Units | 13,100 | 0 | 0 |
Mortgage loans assumed for the acquisition of real estate | 27,000 | 0 | 42,799 |
Unrealized Gain (Loss) on Securities | (8) | 24 | (43) |
Stock Issued During Period, Value, Dividend Reinvestment Plan | 1,210 | 1,070 | 1,250 |
Contributions from limited partners in consolidated partnerships, net | 186 | 8,755 | 13 |
Common stock issued for dividend reinvestment in trust | 557 | 728 | 833 |
Stock-based compensation capitalized | 3,210 | 2,963 | 2,988 |
Contribution of stock awards into trust | 1,372 | 1,538 | 1,651 |
Distribution of stock held in trust | 677 | 4,114 | 1,898 |
Deconsolidation of consolidated partnership, Real estate, net | 0 | 14,144 | 0 |
Deconsolidation of consolidated partnership, Return of capital | 0 | (3,355) | 0 |
Deconsolidation of consolidated partnership, Mortgage Notes Payable | 0 | (9,415) | 0 |
Deconsolidation of consolidated partnership, Other assets and liabilities | 0 | 571 | 0 |
Deconsolidation of consolidated partnership, Noncontrolling Interest | 0 | (2,099) | 0 |
Common Stock | Parent Company [Member] | |||
Supplemental disclosure of non-cash transactions: | |||
Stock Issued During Period, Value, Dividend Reinvestment Plan | 1,210 | 1,070 | 1,250 |
Equity One Inc. [Member] | |||
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Stock-based compensation, net of capitalization | 7,931 | 0 | 0 |
Equity One Inc. [Member] | Partnership Interest [Member] | |||
Supplemental disclosure of non-cash transactions: | |||
Mortgage loans assumed for the acquisition of real estate | 757,399 | 0 | 0 |
Common stock exchanged for Equity One shares | $ 4,471,808 | $ 0 | $ 0 |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Summary of Significant Accounting Policies | Organization and Principles of Consolidation General Regency Centers Corporation (the “Parent Company”) began its operations as a Real Estate Investment Trust (“REIT”) in 1993 and is the general partner of Regency Centers, L.P. (the “Operating Partnership”). The Parent Company engages in the ownership, management, leasing, acquisition, and development of retail shopping centers through the Operating Partnership, and has no other assets other than through its investment in the Operating Partnership, and its only liabilities are the unsecured notes assumed from the merger with Equity One, which are co-issued and guaranteed by the Operating Partnership. The Parent Company guarantees all of the unsecured debt of the Operating Partnership. As of December 31, 2017 , the Parent Company, the Operating Partnership, and their controlled subsidiaries on a consolidated basis (the "Company” or “Regency”) owned 311 retail shopping centers and held partial interests in an additional 115 retail shopping centers through unconsolidated investments in real estate partnerships (also referred to as "joint ventures" or "co-investment partnerships"). On March 1, 2017, Regency completed its merger with Equity One, whereby Equity One merged with and into Regency, with Regency continuing as the surviving public company. Under the terms of the Merger Agreement, each Equity One stockholder received 0.45 of a newly issued share of Regency common stock for each share of Equity One common stock owned immediately prior to the effective time of the merger, resulting in the issuance of approximately 65.5 million shares of Regency common stock to effect the merger. Estimates, Risks, and Uncertainties The preparation of the consolidated financial statements in conformity with U.S. Generally Accepted Accounting Principles (“GAAP”) requires the Company's management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of contingent assets and liabilities, at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The most significant estimates in the Company's financial statements relate to the net carrying values of its real estate investments, accounts receivable, straight line rent receivable, goodwill, and acquired lease intangible assets and acquired lease intangible liabilities. It is possible that the estimates and assumptions that have been utilized in the preparation of the consolidated financial statements could change significantly if economic conditions were to weaken. Consolidation The accompanying consolidated financial statements include the accounts of the Parent Company, the Operating Partnership, its wholly-owned subsidiaries, and consolidated partnerships in which the Company has a controlling interest. Investments in real estate partnerships not controlled by the Company are accounted for under the equity method. All significant inter-company balances and transactions are eliminated in the consolidated financial statements. The Company consolidates properties that are wholly owned or properties where it owns less than 100%, but which it controls. Control is determined using an evaluation based on accounting standards related to the consolidation of voting interest entities and variable interest entities ("VIEs"). For joint ventures that are determined to be a VIE, the Company consolidates the entity where it is deemed to be the primary beneficiary. Determination of the primary beneficiary is based on whether an entity has (1) the power to direct the activities of the VIE that most significantly impact the entity's economic performance, and (2) the obligation to absorb losses of the entity that could potentially be significant to the VIE or the right to receive benefits from the entity that could potentially be significant to the VIE. The Company's determination of the primary beneficiary considers all relationships between it and the VIE, including management agreements and other contractual arrangements. Ownership of the Parent Company The Parent Company has a single class of common stock outstanding. At December 31, 2016 , the Company also had two series of preferred stock outstanding (“Series 6 and 7 Preferred Stock”). The dividends on the Series 6 and 7 Preferred Stock were cumulative and payable in arrears quarterly. During 2017 , the Company redeemed in full the Series 6 and 7 Preferred Stock. Ownership of the Operating Partnership The Operating Partnership's capital includes general and limited common Partnership Units. As of December 31, 2017 , the Parent Company owned approximately 99.8% , or 171,364,908 , of the 171,714,810 outstanding common Partnership Units of the Operating Partnership, with the remaining limited Partnership Units held by third parties ("Exchangeable operating partnership units" or "EOP units"). The Parent Company serves as general partner of the Operating Partnership. The EOP unit holders have limited rights over the Operating Partnership such that they do not have the power to direct the activities of the Operating Partnership. As such, the Operating Partnership is considered a VIE, and the Parent Company is the primary beneficiary, which consolidates it. The Parent Company's only investment is the Operating Partnership. Net income and distributions of the Operating Partnership are allocable to the general and limited common Partnership Units in accordance with their ownership percentages. Real Estate Partnerships Regency has a partial ownership interest in 126 properties through partnerships, of which 11 are consolidated. These partners include institutional investors, other real estate developers and/or operators, and individual parties who help Regency source transactions for development and investment (the "Partners" or "limited partners"). Regency has a variable interest in these entities through its equity interests. As managing member, Regency maintains the books and records and typically provides leasing and property management to the partnerships. The Partners’ level of involvement varies from protective decisions (debt, bankruptcy, selling primary asset(s) of business) to involvement in approving leases, operating budgets, and capital budgets. • Those partnerships for which the Partners only have protective rights are considered VIEs under ASC 810, Consolidation. Regency is the primary beneficiary of these VIEs as Regency has power over these partnerships and they operate primarily for the benefit of Regency. As such, Regency consolidates these entities and reports the limited partners’ interest as noncontrolling interests. The majority of the operations of the VIEs are funded with cash flows generated by the properties, or in the case of developments, with capital contributions or third party construction loans. Regency does not provide financial support to the VIEs. • Those partnerships for which the Partners are involved in the day to day decisions and do not have any other aspects that would cause them to be considered VIEs, are evaluated for consolidation using the voting interest model. ◦ Those partnerships in which Regency has a controlling financial interest are consolidated and the limited partners’ ownership interest and share of net income is recorded as noncontrolling interest. ◦ Those partnerships in which Regency does not have a controlling financial interest are accounted for using the equity method and its ownership interest is recognized through single-line presentation as Investments in Real Estate Partnerships, in the Consolidated Balance Sheet, and Equity in Income of Investments in Real Estate Partnerships, in the Consolidated Statements of Operations. Cash distributions of earnings from operations from investments in real estate partnerships are presented in cash flows provided by operating activities in the accompanying Consolidated Statements of Cash Flows. Cash distributions from the sale of a property or loan proceeds received from the placement of debt on a property included in investments in real estate partnerships are presented in cash flows provided by investing activities in the accompanying Consolidated Statements of Cash Flows. Distributed proceeds from debt refinancing and real estate sales in excess of Regency's carrying value of its investment has resulted in a negative investment balance for one partnership, which is recorded within Accounts payable and other liabilities in the Consolidated Balance Sheets. ◦ The net difference in the carrying amount of investments in real estate partnerships and the underlying equity in net assets is either accreted to income and recorded in equity in income of investments in real estate partnerships in the accompanying Consolidated Statements of Operations over the expected useful lives of the properties and other intangible assets, which range in lives from 10 to 40 years, or recognized at liquidation if the joint venture agreement includes a unilateral right to elect to dissolve the real estate partnership and, upon such an election, receive a distribution in-kind. The assets of these partnerships are restricted to the use of the partnerships and cannot be used by general creditors of the Company. And similarly, the obligations of these partnerships can only be settled by the assets of these partnerships. The major classes of assets, liabilities, and non-controlling equity interests held by the Company's VIEs, exclusive of the Operating Partnership as a whole, are as follows: (in thousands) December 31, 2017 December 31, 2016 Assets Net real estate investments $172,736 86,440 Cash and cash equivalents 4,993 3,444 Liabilities Notes payable 16,551 8,175 Equity Limited partners’ interests in consolidated partnerships 17,572 17,565 Noncontrolling Interests Noncontrolling Interests of the Parent Company The consolidated financial statements of the Parent Company include the following ownership interests held by owners other than the preferred and common stockholders of the Parent Company: (i) the limited Partnership Units in the Operating Partnership held by third parties and (ii) the minority-owned interest held by third parties in consolidated partnerships (“Limited partners' interests in consolidated partnerships”). The Parent Company has included all of these noncontrolling interests in permanent equity, separate from the Parent Company's stockholders' equity, in the accompanying Consolidated Balance Sheets and Consolidated Statements of Equity and Comprehensive Income (Loss). The portion of net income or comprehensive income attributable to these noncontrolling interests is included in net income and comprehensive income in the accompanying Consolidated Statements of Operations and Consolidated Statements of Comprehensive Income (Loss) of the Parent Company. In accordance with the FASB ASC Topic 480, securities that are redeemable for cash or other assets at the option of the holder, not solely within the control of the issuer, are classified as redeemable noncontrolling interests outside of permanent equity in the Consolidated Balance Sheets. The Parent Company has evaluated the conditions as specified under the FASB ASC Topic 480 as it relates to exchangeable operating partnership units outstanding and concluded that it has the right to satisfy the redemption requirements of the units by delivering unregistered common stock. Each outstanding exchangeable operating partnership unit is exchangeable for one share of common stock of the Parent Company, and the unit holder cannot require redemption in cash or other assets. Limited partners' interests in consolidated partnerships are not redeemable by the holders. The Parent Company also evaluated its fiduciary duties to itself, its shareholders, and, as the managing general partner of the Operating Partnership, to the Operating Partnership, and concluded its fiduciary duties are not in conflict with each other or the underlying agreements. Therefore, the Parent Company classifies such units and interests as permanent equity in the accompanying Consolidated Balance Sheets and Consolidated Statements of Equity. Noncontrolling Interests of the Operating Partnership The Operating Partnership has determined that limited partners' interests in consolidated partnerships are noncontrolling interests. Subject to certain conditions and pursuant to the terms of the agreement, the Company generally has the right, but not the obligation, to purchase the other member’s interest or sell its own interest in these consolidated partnerships. The Operating Partnership has included these noncontrolling interests in permanent capital, separate from partners' capital, in the accompanying Consolidated Balance Sheets and Consolidated Statements of Capital. The portion of net income (loss) or comprehensive income (loss) attributable to these noncontrolling interests is included in net income and comprehensive income in the accompanying Consolidated Statements of Operations and Consolidated Statements Comprehensive Income (Loss) of the Operating Partnership. (b) Revenues and Tenant Receivable Leasing Revenue and Receivables The Company leases space to tenants under agreements with varying terms. Leases are accounted for as operating leases with minimum rent recognized on a straight-line basis over the term of the lease regardless of when payments are due. When the Company is the owner of the leasehold improvements, recognition of straight line lease revenue commences when the lessee is given possession of the leased space upon completion of tenant improvements. However, when the leasehold improvements are owned by the tenant, the lease inception date is the date the tenant obtains possession of the leased space for purposes of constructing its leasehold improvements. More than half of all of the lease agreements with anchor tenants contain provisions that provide for additional rents based on tenants' sales volume ("percentage rent"). Percentage rents are recognized when the tenants achieve the specified targets as defined in their lease agreements. Most all lease agreements contain provisions for reimbursement of the tenants' share of real estate taxes, insurance and common area maintenance (“CAM”) costs. Recovery of real estate taxes, insurance, and CAM costs are recognized as the respective costs are incurred in accordance with the lease agreements. The following table represents the components of Tenant and other receivables, net in the accompanying Consolidated Balance Sheets: December 31, (in thousands) 2017 2016 Billed tenant receivables $ 25,329 15,599 Accrued CAM, insurance and tax reimbursements 14,825 9,221 Other receivables 34,472 12,058 Straight-line rent receivables 93,284 73,384 Notes receivable 15,803 10,481 Less: allowance for doubtful accounts (8,040 ) (5,460 ) Less: straight-line rent reserves (4,688 ) (3,561 ) Total tenant and other receivables, net $ 170,985 111,722 The Company estimates the collectibility of the accounts receivable related to base rents, straight-line rents, expense reimbursements, and other revenue taking into consideration the Company's historical write-off experience, tenant credit-worthiness, current economic trends, and remaining lease terms . The Company recorded the following provisions for doubtful accounts: Year ended December 31, (in thousands) 2017 2016 2015 Gross provision for doubtful accounts $ 3,992 1,705 2,364 Provision for straight line rent reserve $ 1,129 2,271 714 Real Estate Sales Profits from sales of real estate are recognized under the full accrual method by the Company when: (i) a sale is consummated; (ii) the buyer's initial and continuing investment is adequate to demonstrate a commitment to pay for the property; (iii) the Company's receivable, if applicable, is not subject to future subordination; (iv) the Company has transferred to the buyer the usual risks and rewards of ownership; and (v) the Company does not have substantial continuing involvement with the property. Management Services The Company is engaged under agreements with its joint venture partners to provide asset management, property management, leasing, investing, and financing services for such joint ventures' shopping centers. The fees are market-based, generally calculated as a percentage of either revenues earned or the estimated values of the properties managed or the proceeds received, and are recognized as services are rendered, when fees due are determinable, and collectibility is reasonably assured. The Company also receives transaction fees, as contractually agreed upon with each joint venture, which include fees such as acquisition fees, disposition fees, “promotes”, or “earnouts”, and are recognized as services are rendered, when fees due are determinable, and collectibility is reasonably assured. (c) Real Estate Investments Capitalization and Depreciation Maintenance and repairs that do not improve or extend the useful lives of the respective assets are recorded in operating and maintenance expense. As part of the leasing process, the Company may provide the lessee with an allowance for the construction of leasehold improvements. These leasehold improvements are capitalized and recorded as tenant improvements, and depreciated over the shorter of the useful life of the improvements or the remaining lease term. If the allowance represents a payment for a purpose other than funding leasehold improvements, or in the event the Company is not considered the owner of the improvements, the allowance is considered to be a lease incentive and is recognized over the lease term as a reduction of minimum rent. Factors considered during this evaluation include, among other things, who holds legal title to the improvements as well as other controlling rights provided by the lease agreement and provisions for substantiation of such costs (e.g. unilateral control of the tenant space during the build-out process). Determination of the appropriate accounting for the payment of a tenant allowance is made on a lease-by-lease basis, considering the facts and circumstances of the individual tenant lease. Depreciation is computed using the straight-line method over estimated useful lives of approximately 40 years for buildings and improvements, the shorter of the useful life or the remaining lease term subject to a maximum of 10 years for tenant improvements, and three to seven years for furniture and equipment. Development Costs Land, buildings, and improvements are recorded at cost. All specifically identifiable costs related to development activities are capitalized into properties in development on the accompanying Consolidated Balance Sheets. The capitalized costs include pre-development costs essential to the development of the property, development costs, construction costs, interest costs, real estate taxes, and allocated direct employee costs incurred during the period of development. Interest costs are capitalized into each development project based upon applying the Company's weighted average borrowing rate to that portion of the actual development costs expended. The Company discontinues interest and real estate tax capitalization when the property is no longer being developed or is available for occupancy upon substantial completion of tenant improvements, but in no event would the Company capitalize interest on the project beyond 12 months after substantial completion of the building shell. Pre-development costs represent the costs the Company incurs prior to land acquisition including contract deposits, as well as legal, engineering, and other external professional fees related to evaluating the feasibility of developing a shopping center. As of December 31, 2017 and 2016 , the Company had refundable deposits of approximately $3.5 million and $1.2 million , respectively, included in pre-development costs. If the Company determines that the development of a particular shopping center is no longer probable, any related pre-development costs previously capitalized are immediately expensed. During the years ended December 31, 2017 , 2016 , and 2015 , the Company expensed pre-development costs of approximately $1.5 million , $1.5 million , and $1.7 million , respectively, in other operating expenses in the accompanying Consolidated Statements of Operations. Acquisitions Through June 30, 2017, the Company and its real estate partnerships accounted for operating property acquisitions as business combinations using the acquisition method. Effective July 1, 2017, upon the adoption of ASU 2017-01: Definition of a Business accounting standard, operating property acquisitions are generally considered asset acquisitions. The Company expenses transaction costs associated with business combinations in the period incurred and capitalizes transaction costs associated with asset acquisitions. Both business combinations and asset acquisitions require that the Company recognize and measure the identifiable assets acquired, the liabilities assumed, and any noncontrolling interest in the operating property acquired ("acquiree"). The Company's methodology includes estimating an “as-if vacant” fair value of the physical property, which includes land, building, and improvements. In addition, the Company determines the estimated fair value of identifiable intangible assets and liabilities, considering the following categories: (i) value of in-place leases, and (ii) above and below-market value of in-place leases. The value of in-place leases is estimated based on the value associated with the costs avoided in originating leases compared to the acquired in-place leases as well as the value associated with lost rental and recovery revenue during the assumed lease-up period. The value of in-place leases is recorded to amortization expense over the remaining expected term of the respective leases. Above-market and below-market in-place lease values for acquired properties are recorded based on the present value of the difference between (i) the contractual amounts to be paid pursuant to the in-place leases and (ii) management's estimate of fair market lease rates for comparable in-place leases, measured over a period equal to the remaining non-cancelable term of the lease, including below-market renewal options, if applicable. The value of above-market leases is amortized as a reduction of minimum rent over the remaining terms of the respective leases and the value of below-market leases is accreted to minimum rent over the remaining terms of the respective leases, including below-market renewal options, if applicable. The Company does not assign value to customer relationship intangibles if it has pre-existing business relationships with the major retailers at the acquired property since they do not provide incremental value over the Company's existing relationships. Held for Sale The Company classifies land, an operating property, or a property in development as held-for-sale upon satisfaction of the following criteria: (i) management commits to a plan to sell a property (or group of properties), (ii) the property is available for immediate sale in its present condition subject only to terms that are usual and customary for sales of such properties, (iii) an active program to locate a buyer and other actions required to complete the plan to sell the property have been initiated, (iv) the sale of the property is probable and transfer of the asset is expected to be completed within one year, (v) the property is being actively marketed for sale, and (vi) actions required to complete the plan indicate that it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn. Operating properties held-for-sale are carried at the lower of cost or fair value less costs to sell. Impairment We evaluate whether there are any indicators, including property operating performance and general market conditions, that the value of the real estate properties (including any related amortizable intangible assets or liabilities) may not be recoverable. Through the evaluation, we compare the current carrying value of the asset to the estimated undiscounted cash flows that are directly associated with the use and ultimate disposition of the asset. Our estimated cash flows are based on several key assumptions, including rental rates, costs of tenant improvements, leasing commissions, anticipated hold period, and assumptions regarding the residual value upon disposition, including the exit capitalization rate. These key assumptions are subjective in nature and could differ materially from actual results. Changes in our disposition strategy or changes in the marketplace may alter the hold period of an asset or asset group which may result in an impairment loss and such loss could be material to the Company's financial condition or operating performance. To the extent that the carrying value of the asset exceeds the estimated undiscounted cash flows, an impairment loss is recognized equal to the excess of carrying value over fair value. If such indicators are not identified, management will not assess the recoverability of a property's carrying value. If a property previously classified as held and used is changed to held-for-sale, the Company estimates fair value, less expected costs to sell, which could cause the Company to determine that the property is impaired. The fair value of real estate assets is subjective and is determined through comparable sales information and other market data if available, or through use of an income approach such as the direct capitalization method or the traditional discounted cash flow approach. Such cash flow projections consider factors such as expected future operating income, trends and prospects, as well as the effects of demand, competition and other factors, and therefore is subject to management judgment and changes in those factors could impact the determination of fair value. In estimating the fair value of undeveloped land, the Company generally uses market data and comparable sales information. A loss in value of investments in real estate partnerships under the equity method of accounting, other than a temporary decline, must be recognized in the period in which the loss occurs. If management identifies indicators that the value of the Company's investment in real estate partnerships may be impaired, it evaluates the investment by calculating the fair value of the investment by discounting estimated future cash flows over the expected term of the investment. Tax Basis The net book basis of the Company's real estate assets exceeds the net tax basis by approximately $2.8 billion at December 31, 2017 , primarily due to the tax free merger with Equity One and inheriting lower carryover tax basis. The net tax basis of the Company's real estate assets exceeded the book basis by approximately $190.3 million at December 31, 2016 , primarily due to the property impairments recorded for book purposes and the cost basis of the assets acquired and their carryover basis recorded for tax purposes. (d) Cash and Cash Equivalents Any instruments which have an original maturity of 90 days or less when purchased are considered cash equivalents. As of December 31, 2017 and 2016 , $4.0 million and $4.6 million , respectively, of cash was restricted through escrow agreements and certain mortgage loans. (e) Other Assets The following table represents the components of Other assets in the accompanying Consolidated Balance Sheets: December 31, (in thousands) 2017 2016 Goodwill (1) $ 331,884 — Investments 41,636 36,008 Prepaid and other 30,332 10,386 Derivative assets 14,515 11,622 Furniture, fixtures, and equipment, net 6,123 4,094 Deferred financing costs, net 2,637 3,557 Total other assets $ 427,127 65,667 (1) Goodwill amount is subject to provisional accounting for the purchase price allocation from the Equity One merger, as discussed in note 2. Goodwill Goodwill represents the excess of the purchase price consideration for the Equity One merger over the fair value of the assets acquired and liabilities assumed, and reflects expected synergies from combining Regency's and Equity One's operations. The Company accounts for goodwill in accordance with the Intangibles - Goodwill and Other Topic of the FASB ASC 350, and allocates its goodwill to the reporting units, which have been determined to be at the individual property level. The Company performs an impairment evaluation of its goodwill at least annually, in November of each year. The Company's current goodwill impairment analysis, using a qualitative approach, did not result in any indication of impairment. The goodwill impairment evaluation may be completed through a qualitative or quantitative approach. Under a qualitative approach, the impairment review for goodwill consists of an assessment of whether it is more-likely-than-not that the property’s fair value is less than its carrying value. If a qualitative approach indicates it is more likely-than-not that the estimated carrying value of a property exceeds its fair value, or if the Company chooses to bypass the qualitative approach for any property, the Company will perform the quantitative approach described below. The quantitative approach consists of estimating the fair value of each property using discounted projected future cash flows and comparing those estimated fair values with the carrying values, which include the allocated goodwill. If the estimated fair value is less than the carrying value, the Company would then recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit's fair value, not to exceed the total amount of goodwill allocated to that reporting unit. Investments The Company determines the appropriate classification of its investments in debt and equity securities at the time of purchase and reevaluates such determinations at each balance sheet date. Debt securities are classified as held to maturity when the Company has the positive intent and ability to hold the securities to maturity. Marketable securities that are bought and held principally for the purpose of selling them in the near term are classified as trading securities and are reported at fair value, with unrealized gains and losses recognized in earnings. Debt and marketable equity securities not classified as held to maturity or as trading, are classified as available-for-sale, and are carried at fair value, with the unrealized gains and losses, net of tax, included in the determination of comprehensive income and reported in the Consolidated Statements of Comprehensive Income. The fair value of securities is determined using quoted market prices. (f) Deferred Leasing Costs Deferred leasing costs consist of internal and external commissions associated with leasing the Company's shopping centers, and are presented net of accumulated amortization. Such costs are amortized over the period through lease expiration. If the lease is terminated early, the remaining leasing costs are written off. (g) Derivative Financial Instruments The Company manages economic risks, including interest rate, liquidity, and credit risk primarily by managing the amount, sources, and duration of its debt funding and the use of derivative financial instruments. Specifically, the Company enters into derivative financial instruments to manage exposures that arise from business activities that result in the receipt or future payment of known and uncertain cash amounts, the amount of which are determined by interest rates. The Company's derivative financial instruments are used to manage differences in the amount, timing, and duration of the Company's known or expected cash payments principally related to the Company's borrowings. All derivative instruments, whether designated in hedging relationships or not, are recorded on the accompanying Consolidated Balance Sheets at their fair value. The accounting for changes in the fair value of derivatives depends on the intended use of the derivative, whether the Company has elected to designate a derivative in a hedging relationship and apply hedge accounting, and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting. Derivatives designated and qualifying as a hedge of the exposure to changes in the fair value of an asset, liability, or firm commitment attributable to a particular risk, such as interest rate risk, are considered fair value hedges. Derivatives designated and qualifying as a hedge of the exposure to variabili |
Real Estate Investments
Real Estate Investments | 12 Months Ended |
Dec. 31, 2017 | |
Real Estate [Abstract] | |
Real Estate Disclosure [Text Block] | 2. Real Estate Investments Acquisitions The following tables detail the shopping centers acquired or land acquired or leased for development. (in thousands) December 31, 2017 Date Purchased Property Name City/State Property Type Purchase Price Debt Assumed, Net of Premiums Intangible Assets Intangible Liabilities 3/6/2017 The Field at Commonwealth Chantilly, VA Development $ 9,500 — — — 3/8/2017 Pinecrest Place (1) Miami, FL Development — — — — 4/13/2017 Mellody Farm (2) Chicago, IL Development 26,200 — — — 6/28/2017 Concord outparcel (3) Miami, FL Operating 350 — — — 7/20/2017 Aventura Square outparcel (4) Miami, FL Operating 1,750 — 90 9 11/15/2017 Indigo Square Mount Pleasant, SC Development 3,900 — — — 12/21/2017 Scripps Ranch Marketplace San Diego, CA Operating 81,600 27,000 4,997 9,551 12/28/2017 Roosevelt Square Seattle, WA Operating 68,084 — 3,842 8,002 Total property acquisitions $ 191,384 27,000 8,929 17,562 (1) The Company leased 10.67 acres for a ground up development. (2) The Operating Partnership issued 195,732 partnership units valued at $13.1 million as partial consideration for the purchase price. (3) The Company purchased a 0.67 acre vacant outparcel adjacent to the Company's existing operating Concord Shopping Plaza. (4) The Company purchased a 0.06 acre outparcel improved with a leased building adjacent to the Company's existing operating Aventura Square. (in thousands) December 31, 2016 Date Purchased Property Name City/State Property Type Purchase Price Debt Assumed, Net of Premiums Intangible Assets Intangible Liabilities 2/22/2016 Garden City Park Garden City Park, NY Operating $ 17,300 — 10,171 2,940 3/4/2016 The Market at Springwoods Village (1) Houston, TX Development 17,994 — — — 5/16/2016 Market Common Clarendon Arlington, VA Operating 280,500 — 15,428 15,662 7/15/2016 Klahanie Shopping Center Sammamish, WA Operating 35,988 — 2,264 539 8/4/2016 The Village at Tustin Legacy Tustin, CA Development 18,800 — — — 10/26/2016 Nocatee Phase III Jacksonville, FL Development 240 — — — 10/30/2016 Brooklyn Station Phase II Jacksonville, FL Development 50 — — — 12/6/2016 The Village at Riverstone Houston, TX Development 16,656 — — — Total property acquisitions $ 387,528 — 27,863 19,141 (1) Regency acquired a 53% controlling interest in the Market at Springwoods Village partnership to develop a shopping center on land contributed by the partner. As a result of consolidation, the Company recorded the partner's non-controlling interest of $8.4 million in Limited partners' interests in consolidated partnerships in the accompanying Consolidated Balance Sheets. Equity One Merger General On March 1, 2017, Regency completed its merger with Equity One, a NYSE listed shopping center company, whereby Equity One merged with and into Regency, with Regency continuing as the surviving public company. Under the terms of the Merger Agreement, each Equity One stockholder received 0.45 of a newly issued share of Regency common stock for each share of Equity One common stock owned immediately prior to the effective time of the merger resulting in approximately 65.5 million Regency common shares being issued to effect the merger. The following table provides the components that make up the total purchase price for the Equity One merger: (in thousands, except stock price) Purchase Price Shares of common stock issued for merger 65,379 Closing stock price on March 1, 2017 $ 68.40 Value of common stock issued for merger $ 4,471,808 Other cash payments 721,297 Total purchase price $ 5,193,105 As part of the merger, Regency acquired 121 properties, including 8 properties held through co-investment partnerships. The consolidated net assets and results of operations of Equity One are included in the consolidated financial statements from the closing date, March 1, 2017, going forward and resulted in the following impact to Revenues and Net income attributable to common stockholders: (in thousands) Year ended December 31, 2017 Increase in total revenues $ 337,761 Increase in net income attributable to common stockholders $ 81,766 The Company incurred $80.7 million and $6.5 million , respectively, of merger-related transaction costs during the years ended December 31, 2017 and 2016, which are recorded in Other operating expenses in the accompanying Consolidated Statements of Operations, and are not reflected in the table above. Provisional Purchase Price Allocation of Merger The Equity One merger has been accounted for using the acquisition method of accounting in accordance with ASC 805, Business Combinations, which requires, among other things, that the assets acquired and liabilities assumed be recognized at their acquisition date fair values. The acquired assets and assumed liabilities of an acquired operating property generally include, but are not limited to: land, buildings and improvements, identified tangible and intangible assets and liabilities associated with in-place leases, including tenant improvements, leasing costs, value of above-market and below-market leases, and value of acquired in-place leases. This methodology requires estimating an “as-if vacant” fair value of the physical property, which includes land, building, and improvements and also determining the estimated fair value of identifiable intangible assets and liabilities, considering the following categories: (i) value of in-place leases, (ii) above and below-market value of in-place leases, and deferred taxes related to the book tax difference created through purchase accounting. The excess of the purchase price consideration over the fair value of assets acquired and liabilities assumed results in goodwill in the business combination, which reflects expected synergies from combining Regency's and Equity One's operations and the deferred tax liability at one of the acquired taxable REIT subsidiaries. The goodwill is not expected to be deductible for tax purposes. The provisional fair market value of the acquired operating properties is based on a valuation prepared by Regency with assistance of a third party valuation specialist. The third party used stabilized NOI and market specific capitalization and discount rates as the primary inputs in determining the fair value of the real estate assets. Management reviewed the inputs used by the third party specialist as well as the allocation of the purchase price to ensure reasonableness and that the procedures were performed in accordance with management's policy. Management and the third party valuation specialist have prepared their provisional fair value estimates for each of the operating properties acquired, but are still in process of reviewing all of the underlying inputs and assumptions; therefore, the purchase price and its allocation, in their entirety, are not yet complete as of the date of this filing but have been updated to reflect management's current best estimates of fair values as of the acquisition date. Once the purchase price and allocation are complete, an additional adjustment to the purchase price or allocation may occur. The following table summarizes the current provisional purchase price allocation based on the Company's valuation, including estimates and assumptions of the acquisition date fair value of the tangible and intangible assets acquired and liabilities assumed: (in thousands) Provisional Purchase Price Allocation Land $ 2,865,053 Building and improvements 2,619,553 Properties in development 68,744 Properties held for sale 19,600 Investments in unconsolidated real estate partnerships 99,666 Real estate assets 5,672,616 Cash, accounts receivable and other assets 112,909 Intangible assets 458,554 Goodwill 331,884 Total assets acquired 6,575,963 Notes payable 757,399 Accounts payable, accrued expenses, and other liabilities 121,798 Lease intangible liabilities 503,661 Total liabilities assumed 1,382,858 Total purchase price $ 5,193,105 During the three months ended December 31, 2017 , the Company adjusted the provisional purchase price allocation to reflect current best estimates of fair values of the acquired operating properties, based on the valuation process described above. These adjustments resulted in the following increases (decreases) to earnings during the three months ended December 31, 2017 that would have been recognized in previous periods if the adjustments to provisional amounts were recognized as of the acquisition date: (in thousands) Three months ended December 31, 2017 decrease in Minimum rent $ (2,386 ) decrease in Depreciation and amortization 1,435 increase in Equity in income of investments in real estate partnerships 350 Net decrease to earnings of provisional purchase price allocation adjustments $ (601 ) The allocation of the purchase price is based on management’s assessment, which may change in the future as more information becomes available. Subsequent adjustments made to the purchase price allocation upon completion of the Company's fair value assessment process will not exceed one year from the acquisition date. The allocation of the purchase price described above requires a significant amount of judgment and represents management's best estimate of the fair value as of the acquisition date. The following table details the provisional weighted average amortization and net accretion periods, in years, of the major classes of intangible assets and intangible liabilities arising from the Equity One merger: (in years) Weighted Average Amortization Period Assets: In-place leases 11.3 Above-market leases 7.9 Below-market ground leases 55.3 Liabilities: Below-market leases 25.8 Pro forma Information (unaudited) The following unaudited pro forma financial data includes the incremental revenues, operating expenses, depreciation and amortization, and costs of the Equity One acquisition as if it had occurred on January 1, 2016: Year ended December 31, (in thousands, except per share data) 2017 2016 Total revenues $ 1,052,221 1,006,367 Income (loss) from operations (1) 281,393 63,907 Net income (loss) attributable to common stockholders (1) 262,270 40,868 Income (loss) per common share - basic 1.54 0.25 Income (loss) per common share - diluted 1.54 0.25 (1) The pro forma earnings for the year ended December 31, 2017, were adjusted to exclude $103.6 million of merger costs, while 2016 pro forma earnings were adjusted to include all merger costs during the first quarter of 2016. The pro forma financial data is not necessarily indicative of what the actual results of operations would have been assuming the transaction had been completed as set forth above, nor does it purport to represent the results of operations for future periods. |
Dispositions
Dispositions | 12 Months Ended |
Dec. 31, 2017 | |
Discontinued Operations and Disposal Groups [Abstract] | |
Discontinued Operations | 3. Property Dispositions Dispositions The following table provides a summary of consolidated shopping centers and land parcels disposed of: Year ended December 31, (in thousands) 2017 2016 2015 Net proceeds from sale of real estate investments $ 112,161 137,479 (1) 108,822 Gain on sale of real estate, net of tax $ 27,432 47,321 35,606 Provision for impairment of real estate sold $ — 1,700 — Number of operating properties sold 6 11 5 Number of land out-parcels sold 9 16 2 (1) Includes cash deposits received in the previous year. |
Investments in Real Estate Part
Investments in Real Estate Partnerships | 12 Months Ended |
Dec. 31, 2017 | |
Equity Method Investments and Joint Ventures [Abstract] | |
Investments in Real Estate Partnerships | Investments in Real Estate Partnerships The Company invests in real estate partnerships, which consist of the following: December 31, 2017 (in thousands) Regency's Ownership Number of Properties Total Investment Total Assets of the Partnership Net Income of the Partnership The Company's Share of Net Income of the Partnership GRI - Regency, LLC (GRIR) 40.00% 70 $ 198,521 1,656,068 69,211 27,440 Equity One JV Portfolio, LLC (NYC) 30.00% 6 53,277 284,412 2,757 686 Columbia Regency Retail Partners, LLC (Columbia I) 20.00% 6 7,057 130,836 18,233 3,620 Columbia Regency Partners II, LLC (Columbia II) 20.00% 12 13,720 329,992 7,690 1,530 Cameron Village, LLC (Cameron) 30.00% 1 11,784 99,808 2,917 850 RegCal, LLC (RegCal) 25.00% 7 27,829 138,717 5,613 1,403 US Regency Retail I, LLC (USAA) 20.01% 7 — 90,900 22,299 4,456 Other investments in real estate partnerships 50.00% 6 74,116 154,987 11,238 3,356 Total investments in real estate partnerships 115 $ 386,304 2,885,720 139,958 43,341 December 31, 2016 (in thousands) Regency's Ownership Number of Properties Total Investment Total Assets of the Partnership Net Income of the Partnership The Company's Share of Net Income of the Partnership GRI - Regency, LLC (GRIR) 40.00% 70 $ 201,240 1,676,134 74,758 29,791 Columbia Regency Retail Partners, LLC (Columbia I) 20.00% 7 9,687 145,192 21,024 4,180 Columbia Regency Partners II, LLC (Columbia II) 20.00% 12 14,750 338,307 16,765 3,240 Cameron Village, LLC (Cameron) 30.00% 1 11,877 99,967 2,326 695 RegCal, LLC (RegCal) 25.00% 7 21,516 141,827 4,358 1,080 US Regency Retail I, LLC (USAA) 20.01% 8 13,176 109,665 5,901 1,180 Other investments in real estate partnerships 50.00% 4 24,453 97,650 35,915 16,352 Total investments in real estate partnerships 109 $ 296,699 2,608,742 161,047 56,518 The summarized balance sheet information for the investments in real estate partnerships, on a combined basis, is as follows: December 31, (in thousands) 2017 2016 Investments in real estate, net $ 2,682,578 2,439,110 Acquired lease intangible assets, net 54,021 42,974 Other assets 149,121 126,658 Total assets $ 2,885,720 2,608,742 Notes payable $ 1,514,729 1,309,931 Acquired lease intangible liabilities, net 42,466 29,678 Other liabilities 70,498 64,979 Capital - Regency 445,068 405,722 Capital - Third parties 812,959 798,432 Total liabilities and capital $ 2,885,720 2,608,742 The following table reconciles the Company's capital recorded by the unconsolidated partnerships to the Company's investments in real estate partnerships reported in the accompanying consolidated balance sheet: December 31, (in thousands) 2017 2016 Capital - Regency $ 445,068 405,722 Basis difference 40,351 1,382 Negative investment in USAA (1) 11,290 — Impairment of investment in real estate partnerships (1,300 ) (1,300 ) Restricted Gain Method deferral (2) (30,902 ) (30,902 ) Net book equity in excess of purchase price (78,203 ) (78,203 ) Investments in real estate partnerships $ 386,304 296,699 (1) During 2017, the USAA partnership distributed proceeds from debt refinancing and real estate sales in excess of Regency's carrying value of its investment resulting in a negative investment balance, which is recorded within Accounts payable and other liabilities in the Consolidated Balance Sheets. (2) Represents gains deferred under the Company's restricted gain method to maximize deferrals of gains associated with historic sales of shopping centers into joint ventures which contain distribution-in-kind ("DIK") provisions as a liquidation election. Regency has not sold any shopping centers into joint ventures during the years ended December 31, 2017, 2016 and 2015. As discussed further in note 1(n), the accounting for these deferred gains will change upon the adoption of ASU 2017-05 and Topic 606 on January 1, 2018. The revenues and expenses for the investments in real estate partnerships, on a combined basis, are summarized as follows: Year ended December 31, (in thousands) 2017 2016 2015 Total revenues $ 396,596 364,087 363,745 Operating expenses: Depreciation and amortization 99,327 99,252 111,648 Operating and maintenance 58,283 52,725 51,970 General and administrative 5,582 5,342 5,292 Real estate taxes 49,904 42,813 43,769 Other operating expenses 2,923 2,356 2,989 Total operating expenses $ 216,019 202,488 215,668 Other expense (income): Interest expense, net 73,244 69,193 79,477 Gain on sale of real estate (34,276 ) (70,907 ) (2,766 ) Provision for impairment — — 9,102 Early extinguishment of debt — 69 — Other expense (income) 1,651 2,197 1,516 Total other expense (income) 40,619 552 87,329 Net income of the Partnerships $ 139,958 161,047 60,748 The Company's share of net income of the Partnerships $ 43,341 56,518 22,508 Acquisitions The following table provides a summary of shopping centers and land parcels acquired through our unconsolidated real estate partnerships: (in thousands) Year ended December 31, 2017 Date Purchased Property Name City/State Property Type Co-investment Partner Ownership % Purchase Price Debt Assumed, Net of Premiums Intangible Assets Intangible Liabilities 10/11/2017 Midtown East Raleigh, NC Development ITB Holdings, LLC 50.00% $ 15,075 — — — Total property acquisitions $ 15,075 — — — (in thousands) Year ended December 31, 2016 Date Purchased Property Name City/State Property Type Co-investment Partner Ownership % Purchase Price Debt Assumed, Net of Premiums Intangible Assets Intangible Liabilities 3/24/2016 Applewood Village Shops Denver, CO Operating (1) GRIR 40.00% $ 200 — — — 12/20/2016 Plaza Venezia Orlando, FL Operating Columbia II 20.00% 92,350 35,076 6,899 11,548 Total property acquisitions $ 92,550 35,076 6,899 11,548 (1) Land parcels purchased as additions to the operating property. Dispositions The following table provides a summary of shopping centers and land out-parcels disposed of through our unconsolidated real estate partnerships: Year ended December 31, (in thousands) 2017 2016 2015 Proceeds from sale of real estate investments $ 73,122 174,090 39,459 Gain on sale of real estate $ 34,276 70,907 2,766 The Company's share of gain on sale of real estate $ 6,591 25,003 1,108 Number of operating properties sold 3 10 2 Number of land out-parcels sold 1 1 — Notes Payable Scheduled principal repayments on notes payable held by our unconsolidated investments in real estate partnerships as of December 31, 2017 were as follows: Scheduled Principal Payments and Maturities by Year: Scheduled Mortgage Loan Maturities Unsecured Total Regency’s 2018 $ 21,059 30,022 — 51,081 19,647 2019 19,852 73,259 — 93,111 24,448 2020 16,823 224,090 19,635 260,548 91,039 2021 10,818 269,942 — 280,760 100,402 2022 7,569 195,702 — 203,271 73,369 Beyond 5 Years 3,011 633,298 — 636,309 215,071 Net unamortized loan costs, debt premium / (discount) — (10,351 ) — (10,351 ) (3,365 ) Total notes payable $ 79,132 1,415,962 19,635 1,514,729 520,611 These loans are all non-recourse. Maturities will be repaid from proceeds from refinancing, partner capital contributions, or a combination thereof. The Company is obligated to contribute its pro-rata share to fund maturities if the loans are not refinanced, and it has the capacity to do so from existing cash balances, availability on its line of credit, and operating cash flows. The Company believes that its partners are financially sound and have sufficient capital or access thereto to fund future capital requirements. In the event that a co-investment partner was unable to fund its share of the capital requirements of the co-investment partnership, the Company would have the right, but not the obligation, to loan the defaulting partner the amount of its capital call. Management fee income In addition to earning our pro-rata share of net income or loss in each of these co-investment partnerships, we receive fees, as follows: Year ended December 31, (in thousands) 2017 2016 2015 Asset management, property management, leasing, and investment and financing services $ 25,260 24,595 24,519 |
Acquired Lease Intangibles
Acquired Lease Intangibles | 12 Months Ended |
Dec. 31, 2017 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Acquired Lease Intangible | Acquired Lease Intangibles The Company had the following acquired lease intangibles: December 31, (in thousands) 2017 (1) 2016 In-place leases $ 470,315 96,178 Above-market leases 64,625 14,684 Below-market ground leases 92,166 64,664 Total intangible assets $ 627,106 175,526 Accumulated amortization (148,280 ) (56,695 ) Acquired lease intangible assets, net $ 478,826 118,831 Below-market leases $ 588,850 71,996 Above-market ground leases 5,101 5,722 Total intangible liabilities 593,951 77,718 Accumulated amortization (56,550 ) (23,538 ) Acquired lease intangible liabilities, net $ 537,401 54,180 (1) Includes estimated values for acquired lease intangibles from the Equity One merger, for which the accounting remains provisional as of December 31, 2017, as discussed in Note 2. The following table provides a summary of amortization and net accretion amounts from acquired lease intangibles: Year ended December 31, (in thousands) 2017 (4) 2016 2015 In-place lease amortization $ 88,284 11,533 9,141 Above-market lease amortization (1) 9,443 1,742 1,950 Below-market ground lease amortization (3) 1,886 1,111 351 Acquired lease intangible asset amortization $ 99,613 14,386 11,442 Below-market lease amortization (2) $ 34,786 6,827 3,940 Above-market ground lease amortization (3) 136 167 215 Acquired lease intangible liability amortization $ 34,922 6,994 4,155 (1) Amounts are recorded as a reduction to minimum rent. (2) Amounts are recorded as an increase to minimum rent. (3) Above and below market ground lease amortization are recorded as offsets to Operating and maintenance. (4) Amortization and net accretion for the year ended December 31, 2017, includes amounts subject to provisional accounting from the Equity One merger, as discussed in Note 2. The estimated aggregate amortization and net accretion amounts from acquired lease intangibles, including provisional purchase price accounting for Equity One acquired lease intangibles, for the next five years are as follows: (in thousands) In Process Year Ending December 31, Net accretion of Above / Below market lease intangibles Amortization of In-place lease intangibles Net amortization of Below / Above ground lease intangibles 2018 $ 29,654 72,769 1,560 2019 28,754 54,743 1,550 2020 27,710 41,211 1,544 2021 27,106 32,893 1,545 2022 25,440 25,202 1,555 |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2017 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Income Taxes The Company has elected to be taxed as a REIT under the applicable provisions of the Code with certain of its subsidiaries treated as TRS entities, which are subject to federal and state income taxes. The following table summarizes the tax status of dividends paid on our common shares: Year ended December 31, (in thousands) 2017 2016 2015 Dividend per share $2.10 2.00 1.94 Ordinary income 86% 53% 71% Capital gain 10% 8% 5% Return of capital 4% 39% 19% Qualified dividend income —% —% 5% Our consolidated expense (benefit) for income taxes for the years ended December 31, 2017, 2016, and 2015 was as follows: Year ended December 31, (in thousands) 2017 2016 2015 Income tax (benefit) expense: Current $ 1,168 (153 ) (1,604 ) Deferred (10,815 ) — — Total income tax (benefit) expense (1) $ (9,647 ) (153 ) (1,604 ) (1) Includes $90 thousand of tax expense presented within Other operating expenses during the year ended December 31, 2017, and $153 thousand and $1.6 million of tax benefit presented within Gain on sale of real estate, net of tax, during the years ended December 31, 2016 and 2015, respectively. The income tax benefit for the year ended December 31, 2017 was primarily due to the income tax benefit from revaluing the net deferred tax liability at a TRS entity acquired through the Equity One merger, as a result of the change in corporate tax rates from the 2017 Tax Cuts and Jobs Act. The TRS entities are subject to federal and state income taxes and file separate tax returns. Income tax (benefit) expense differed from the amounts computed by applying the U.S. Federal income tax rate to pretax income of the TRS entities, as follows: Year ended December 31, (in thousands) 2017 2016 2015 Computed expected tax expense (benefit) $ 1,190 933 1,730 State income tax, net of federal benefit 108 56 224 Valuation allowance (1,512 ) (1,239 ) (3,556 ) Tax rate change (9,737 ) — — All other items 304 97 (2 ) Total income tax benefit (1) (9,647 ) (153 ) (1,604 ) Income tax benefit attributable to operations (1) $ (9,647 ) (153 ) (1,604 ) (1) Includes $90 thousand of tax expense presented within Other operating expenses during the year ended December 31, 2017, and $153 thousand and $1.6 million of tax benefit presented within Gain on sale of real estate, net of tax, during the years ended December 31, 2016 and 2015, respectively. The tax effects of temporary differences and carryforwards (included in Accounts payable and other liabilities in the accompanying Consolidated Balance Sheets) are summarized as follows: December 31, (in thousands) 2017 2016 Deferred tax assets Investments in real estate partnerships $ — 361 Provision for impairment 3,785 5,827 Deferred interest expense 2,754 2,714 Capitalized costs under Section 263A 729 1,145 Net operating loss carryforward 373 — Employee benefits — 44 Other 2,297 3,059 Deferred tax assets 9,938 13,150 Valuation allowance (8,300 ) (12,507 ) Deferred tax assets, net 1,638 643 Deferred tax liabilities Straight line rent (528 ) 643 Fixed assets (19,757 ) — Other (7 ) — Deferred tax liabilities (20,292 ) 643 Net deferred tax liabilities $ (18,654 ) — The net deferred tax liability increased during 2017 primarily due to the acquisition of a net deferred tax liability, from the basis difference of its real estate assets, at one TRS acquired as part of the Equity One merger, as discussed in note 2. Due to uncertainty regarding the realization of certain deferred tax assets, the Company previously established valuation allowances, primarily in connection with the deferred interest and NOL carryforwards related to certain TRSs. As of December 31, 2017 , the minimal projected future taxable income and unpredictable nature of potential property sales with built in losses support the conclusion that it is still more likely than not that some of the deferred tax assets will not be realized. |
Notes Payable and Unsecured Cre
Notes Payable and Unsecured Credit Facilities | 12 Months Ended |
Dec. 31, 2017 | |
Debt Disclosure [Abstract] | |
Notes Payable and Unsecured Credit Facilities | Notes Payable and Unsecured Credit Facilities The Company’s outstanding debt consists of the following: December 31, (in thousands) 2017 2016 Notes payable: Fixed rate mortgage loans $ 520,193 384,786 Variable rate mortgage loans 125,866 (1) 86,969 Fixed rate unsecured public and private debt 2,325,656 892,170 Total notes payable $ 2,971,715 1,363,925 Unsecured credit facilities: Line of Credit 60,000 15,000 Term Loans 563,262 263,495 Total unsecured credit facilities $ 623,262 278,495 Total debt outstanding $ 3,594,977 1,642,420 (1) Includes five mortgages, whose interest varies on LIBOR based formulas. Three of these variable rate loans have interest rate swaps in place to fix the interest rates at a range of 2.8% to 4.1%. Notes Payable Notes payable consist of mortgage loans secured by properties and unsecured public and private debt. Mortgage loans may be prepaid, but could be subject to yield maintenance premiums. Mortgage loans are generally due in monthly installments of principal and interest or interest only, whereas, interest on unsecured public and private debt is payable semi-annually. The Company is required to comply with certain financial covenants for its unsecured public debt as defined in the indenture agreements such as the following ratios: Consolidated Debt to Consolidated Assets, Consolidated Secured Debt to Consolidated Assets, Consolidated Income for Debt Service to Consolidated Debt Service, and Unencumbered Consolidated Assets to Unsecured Consolidated Debt. As of December 31, 2017 , management of the Company believes it is in compliance with all financial covenants for its unsecured public debt. As of December 31, 2017 , the key interest rates of the Company's notes payables were as follows: Interest Rates Maturing Through Minimum Maximum Weighted Average Effective Rate Weighted Average Contractual Rate Mortgage loans (1) 2036 2.39% 8.00% 4.23% 4.77% Fixed rate unsecured public and private debt 2047 3.60% 6.00% 4.11% 4.57% (1) Interest rates disclosed for mortgages include variable rate mortgages using the fixed interest rates from the interest rate swaps, as disclosed in Note 8. Unsecured Credit Facilities The Company has an unsecured line of credit commitment (the "Line") and unsecured term loan commitments (the "Term Loans") under separate credit agreements with a syndicate of banks. The Company is required to comply with certain financial covenants as defined in the Line and Term Loan credit agreements, such as Ratio of Indebtedness to Total Asset Value ("TAV"), Ratio of Unsecured Indebtedness to Unencumbered Asset Value, Ratio of Adjusted Earnings Before Interest Taxes Depreciation and Amortization (“EBITDA”) to Fixed Charges, Ratio of Secured Indebtedness to TAV, Ratio of Unencumbered Net Operating Income to Unsecured Interest Expense, and other covenants customary with this type of unsecured financing. As of December 31, 2017 , management of the Company believes it is in compliance with all financial covenants for the Line and Term Loan. The key terms of the Line and Term Loans were as follows: December 31, 2017 (in thousands) Total Capacity Remaining Capacity Maturing Through Variable Interest Rate (4) Fee Weighted Average Effective Rate Weighted Average Contractual Rate Line (7) $ 1,000,000 $ 930,600 (1) 5/13/2019 (2) LIBOR plus 0.925% $ 75 (3) (6) 2.30 % 2.12 % Term Loan (8) $ 265,000 $ — 1/5/2022 LIBOR plus 0.95% (5) $ 35 (6) 2.20 % 2.00 % Term Loan (8) $ 300,000 $ — 12/2/2020 LIBOR plus 0.95% (9) $ 35 (6) 2.80 % 2.77 % (1) Borrowing capacity is reduced by the balance of outstanding borrowings and commitments under outstanding letters of credit. (2) Maturity is subject to two six month extensions at the Company's option. (3) In addition, carries a commitment fee that is subject to adjustment based on the higher of the Company's corporate credit ratings from Moody's and S&P. At December 31, 2017, the commitment fee was 0.15%. (4) Interest rate spread is subject to Regency maintaining its corporate credit and senior unsecured ratings at BBB+. (5) The interest rate on the underlying debt is LIBOR + 0.95%. Effective July 7, 2016, an interest rate swap is in place to fix the interest on the entire balance at 2% through maturity. (6) Annual fee, in thousands. (7) Weighted average contractual and effective rates for the Line are calculated based on a fully drawn Line balance. (8) Weighted average contractual and effective rates for the Term Loans are based on the fixed rate with the interest rate swap. (9) The interest rate on the underlying debt is LIBOR + 0.95%, with an interest rate swap in place to fix the interest on the entire balance at 2.774% through maturity. Scheduled principal payments and maturities on notes payable and unsecured credit facilities were as follows: (in thousands) December 31, 2017 Scheduled Principal Payments and Maturities by Year: Scheduled Mortgage Unsecured Maturities (1) Total 2018 $ 10,641 112,226 — 122,867 2019 9,360 21,787 60,000 91,147 2020 11,122 78,580 450,000 539,702 2021 11,426 66,751 250,000 328,177 2022 11,618 5,848 565,000 582,466 Beyond 5 Years 37,056 260,328 1,650,000 1,947,384 Unamortized debt premium/(discount) and issuance costs — 9,316 (26,082 ) (16,766 ) Total notes payable $ 91,223 554,836 2,948,918 3,594,977 (1) Includes unsecured public and private debt and unsecured credit facilities. The Company has $112.2 million of debt maturing over the next twelve months, all of which is in the form of non-recourse mortgage loans. The Company currently intends to payoff the maturing balances with proceeds from unsecured borrowings and leave the properties unencumbered. The Company has sufficient capacity on its Line to repay the maturing debt, if necessary. |
Derivative Financial Instrument
Derivative Financial Instruments | 12 Months Ended |
Dec. 31, 2017 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative Financial Instruments | Derivative Financial Instruments The following table summarizes the terms and fair values of the Company's derivative financial instruments, as well as their classification on the Consolidated Balance Sheets: Fair Value at December 31, (in thousands) Assets (Liabilities) (1) Effective Date Maturity Date Notional Amount Bank Pays Variable Rate of Regency Pays Fixed Rate of 2017 2016 4/3/17 12/2/20 $ 300,000 1 Month LIBOR with Floor 1.824% $ 1,804 — 8/1/16 1/5/22 265,000 1 Month LIBOR with Floor 1.053% 10,744 9,889 4/7/16 4/1/23 20,000 1 Month LIBOR 1.303% 801 720 12/1/16 11/1/23 33,000 1 Month LIBOR 1.490% 1,166 1,013 6/2/17 6/2/27 37,500 1 Month LIBOR with Floor 2.366% (177 ) (580 ) Total derivative financial instruments $ 14,338 11,042 (1) Derivatives in an asset position are included within Other assets in the accompanying Consolidated Balance Sheets, while those in a liability position are included within Accounts payable and other liabilities. These derivative financial instruments are all interest rate swaps, which are designated and qualify as cash flow hedges. The Company does not use derivatives for trading or speculative purposes and currently does not have any derivatives that are not designated as hedges. The Company has master netting agreements; however, the Company does not have multiple derivatives subject to a single master netting agreement with the same counterparties. Therefore none are offset in the accompanying Consolidated Balance Sheets. The effective portion of changes in the fair value of derivatives designated and qualifying as cash flow hedges is recorded in accumulated other comprehensive income (loss) ("AOCI") and subsequently reclassified into earnings in the period that the hedged forecasted transaction affects earnings. The ineffective portion of the change in fair value of the derivatives is recognized directly in earnings within interest expense, in the accompanying Consolidated Statements of Operations. The following table represents the effect of the derivative financial instruments on the accompanying consolidated financial statements: Amount of Gain (Loss) Location and Amount of Gain (Loss) Location and Amount of Gain or Year ended December 31, Year ended December 31, Year ended December 31, (in thousands) 2017 2016 2015 2017 2016 2015 2017 2016 2015 Interest rate swaps $ 1,151 (10,332 ) (10,089 ) Interest expense $ (11,103 ) (51,139 ) (9,152 ) Loss on derivative instruments $ — (40,586 ) — As of December 31, 2017 , the Company expects $6.9 million of net deferred losses on derivative instruments accumulated in other comprehensive income, including the Company's share from its Investments in real estate partnerships, to be reclassified into earnings during the next 12 months. Included in the reclass is $8.4 million which is related to previously settled swaps on the Company's ten year fixed rate unsecured loans. Hedge Settlement During the third quarter of 2016, the Company initiated and completed a $400.1 million equity offering for the primary purpose of funding the early redemption of its $300 million notes. The Company also used $40.6 million from the net offering proceeds to settle $220 million of forward starting swaps related to new debt previously expected to be issued in 2017 to repay the notes at maturity. As a result of the equity offering, the Company believed that the issuance of new fixed rate debt within the remaining period of the forward starting swaps was probable not to occur. Accordingly, the Company ceased hedge accounting and reclassified the $40.6 million paid to settle the forward starting swaps from Accumulated other comprehensive loss to earnings during the third quarter of 2016. Subsequent Event On February 9, 2018, the Company executed a ten year treasury rate lock on $285.0 million notional amount at a fixed interest rate of 2.899% , intended to designate as a cash flow hedge against changes in interest rates on anticipated future fixed-rate unsecured borrowings. |
Fair Value Measurements
Fair Value Measurements | 12 Months Ended |
Dec. 31, 2017 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | Fair Value Measurements (a) Disclosure of Fair Value of Financial Instruments All financial instruments of the Company are reflected in the accompanying Consolidated Balance Sheets at amounts which, in management's estimation, reasonably approximates their fair values, except for the following: December 31, 2017 2016 (in thousands) Carrying Amount Fair Value Carrying Amount Fair Value Financial assets: Notes receivable $ 15,803 15,660 $ 10,481 10,380 Financial liabilities: Notes payable $ 2,971,715 3,058,044 $ 1,363,925 1,435,000 Unsecured credit facilities $ 623,262 625,000 $ 278,495 279,700 The above fair values represent management's estimate of the amounts that would be received from selling those assets or that would be paid to transfer those liabilities in an orderly transaction between market participants as of December 31, 2017 and 2016 . These fair value measurements maximize the use of observable inputs. However, in situations where there is little, if any, market activity for the asset or liability at the measurement date, the fair value measurement reflects the Company's own judgments about the assumptions that market participants would use in pricing the asset or liability. The Company develops its judgments based on the best information available at the measurement date, including expected cash flows, appropriately risk-adjusted discount rates, and available observable and unobservable inputs. Service providers involved in fair value measurements are evaluated for competency and qualifications on an ongoing basis. As considerable judgment is often necessary to estimate the fair value of these financial instruments, the fair values presented above are not necessarily indicative of amounts that will be realized upon disposition of the financial instruments. The following methods and assumptions were used to estimate the fair value of these financial instruments: Notes Receivable The fair value of the Company's notes receivable is estimated by calculating the present value of future contractual cash flows discounted at interest rates available for notes of the same terms and maturities, adjusted for counter-party specific credit risk. The fair value of notes receivable was determined primarily using Level 3 inputs of the fair value hierarchy, which considered counter-party credit risk and collateral risk of the underlying property securing the note receivable. Notes Payable The fair value of the Company's unsecured debt is estimated based on the quoted market prices for the same or similar issues or on the current rates offered to the Company for debt of the same remaining maturities. The fair value of the unsecured debt was determined using Level 2 inputs of the fair value hierarchy. The fair value of the Company's mortgage notes payable is estimated by discounting future cash flows of each instrument at rates that reflect the current market rates available to the Company for debt of the same terms and maturities. Fixed rate loans assumed in connection with real estate acquisitions are recorded in the accompanying consolidated financial statements at fair value at the time the property is acquired. The fair value of the mortgage notes payable was determined using Level 2 inputs of the fair value hierarchy. Unsecured Credit Facilities The fair value of the Company's Unsecured credit facilities is estimated based on the interest rates currently offered to the Company by financial institutions. The fair value of the credit facilities was determined using Level 2 inputs of the fair value hierarchy. The following interest rates were used by the Company to estimate the fair value of its financial instruments: December 31, 2017 2016 Low High Low High Notes receivable 3.8% 7.8% 7.2% 7.2% Notes payable 3.0% 3.9% 2.9% 3.9% Unsecured credit facilities 2.0% 3.0% 1.5% 1.6% (b) Fair Value Measurements The following financial instruments are measured at fair value on a recurring basis: Trading Securities Held in Trust The Company has investments in marketable securities, which are assets of the non-qualified deferred compensation plan ("NQDCP"), that are classified as trading securities held in trust on the accompanying Consolidated Balance Sheets. The fair value of the trading securities held in trust was determined using quoted prices in active markets, which are considered Level 1 inputs of the fair value hierarchy. Changes in the value of trading securities are recorded within net investment (income) loss from deferred compensation plan in the accompanying Consolidated Statements of Operations. Available-for-Sale Securities Available-for-sale securities consist of investments in certificates of deposit and corporate bonds, and are recorded at fair value using matrix pricing methods to estimate fair value, which are considered Level 2 inputs of the fair value hierarchy. Unrealized gains or losses on these securities are recognized through Other comprehensive income. Interest Rate Derivatives The fair value of the Company's interest rate derivatives is determined using widely accepted valuation techniques including discounted cash flow analysis on the expected cash flows of each derivative. This analysis reflects the contractual terms of the derivatives, including the period to maturity, and uses observable market-based inputs, including interest rate curves and implied volatilities. The Company incorporates credit valuation adjustments to appropriately reflect both its own nonperformance risk and the respective counterparty's nonperformance risk in the fair value measurements. Although the Company has determined that the majority of the inputs used to value its derivatives fall within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with its derivatives utilize Level 3 inputs, such as estimates of current credit spreads, to evaluate the likelihood of default by the Company and its counterparties. The Company has assessed the significance of the impact of the credit valuation adjustments on the overall valuation of its derivative positions and has determined that the credit valuation adjustments are not significant to the overall valuation of its interest rate swaps. As a result, the Company determined that its interest rate swaps valuation in its entirety is classified in Level 2 of the fair value hierarchy. The following table presents the placement in the fair value hierarchy of assets and liabilities that are measured at fair value on a recurring basis: Fair Value Measurements as of December 31, 2017 Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs (in thousands) Balance (Level 1) (Level 2) (Level 3) Assets: Trading securities held in trust $ 31,662 31,662 — — Available-for-sale securities 9,974 — 9,974 — Interest rate derivatives 14,515 — 14,515 — Total $ 56,151 31,662 24,489 — Liabilities: Interest rate derivatives $ (177 ) — (177 ) — Fair Value Measurements as of December 31, 2016 Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs (in thousands) Balance (Level 1) (Level 2) (Level 3) Assets: Trading securities held in trust $ 28,588 28,588 — — Available-for-sale securities 7,420 — 7,420 — Interest rate derivatives 11,622 — 11,622 — Total $ 47,630 28,588 19,042 — Liabilities: Interest rate derivatives $ (580 ) — (580 ) — |
Equity and Capital
Equity and Capital | 12 Months Ended |
Dec. 31, 2017 | |
Equity and Capital [Abstract] | |
Equity and Capital | Equity and Capital Preferred Stock of the Parent Company There were no preferred stock series outstanding as of December 31, 2017 . Terms and conditions of the preferred stock outstanding at December 31, 2016 , which were redeemed during 2017, are summarized as follows: Date of Issuance Shares Issued and Outstanding Liquidation Preference Distribution Rate Callable By Company Series 6 2/16/2012 10,000,000 $ 250,000,000 6.625% 2/16/2017 Series 7 8/23/2012 3,000,000 75,000,000 6.000% 8/23/2017 13,000,000 $ 325,000,000 The Series 6 and 7 preferred shares were perpetual, absent a change in control of the Parent Company, were not convertible into common stock of the Parent Company, and were redeemable at par upon the Company’s election beginning 5 years after the issuance date. None of the terms of the preferred stock contained any unconditional obligations that would have require the Company to redeem the securities at any time or for any purpose. Preferred Shares Redemption On February 16, 2017 , the Parent Company redeemed all of the issued and outstanding 6.625% Series 6 cumulative redeemable preferred shares. The redemption price of $25.21 per share included accrued and unpaid dividends, resulting in an aggregate amount being paid of $252.0 million . The funds used to redeem the Series 6 preferred shares were provided by the January 2017 senior unsecured debt offering. On August 23, 2017 , the Parent Company also redeemed all of the issued and outstanding 6.000% Series 7 cumulative redeemable preferred stock. The redemption price of $25.22 per share included accrued and unpaid dividends resulting in an aggregate amount being paid of $75.7 million . The Company used proceeds from its senior unsecured notes issued in June 2017 to fund the redemption. Common Stock of the Parent Company Issuances: At the Market ("ATM") Program Under the Parent Company's ATM equity offering program, the Parent Company may sell up to $500.0 million of common stock at prices determined by the market at the time of sale. As of December 31, 2017 , $500.0 million in common stock remained available for issuance under this ATM equity program. The following table presents the shares that were issued under the ATM equity program, which was used to fund investment activities: Year ended December 31, (dollar amounts are in thousands, except price per share data) 2017 2016 Shares issued (1) — 182,787 Weighted average price per share $ — 68.85 Gross proceeds $ — 12,584 Commissions $ — 157 Issuance costs (2) $ 349 97 (1) Reflects shares traded in December and settled in January each year. (2) Includes legal and accounting costs associated with maintaining the ATM program. Forward Equity Offering In March 2016, the Parent Company entered into a forward sale agreement (the "Forward Equity Offering") to issue 3.10 million shares of its common stock at an offering price of $75.25 per share, before any underwriting discount and offering expenses. In June 2016, the Parent Company partially settled its forward equity offering by delivering 1.85 million shares of newly issued common stock, receiving $137.5 million of net proceeds, which were used to reduce the balance on the Line. In December 2017, the Parent Company settled the remaining shares in its forward equity offering by delivering 1.25 million shares of newly issued common stock, receiving $89.1 million of net proceeds, which were used to reduce the balance on the Line. Equity One merger On March 1, 2017, Regency completed its merger with Equity One. Under the terms of the merger Agreement, each Equity One stockholder received 0.45 of a newly issued share of Regency common stock for each share of Equity One common stock that they owned immediately prior to the effective time of the Merger resulting in approximately 65.5 million shares being issued to effect the merger. Share Repurchase Program - Subsequent Event On February 7, 2018, the Company's Board authorized a common share repurchase program under which the Company may purchase, from time to time, up to a maximum of $250 million of shares of its outstanding common stock through open market purchases and/or in privately negotiated transactions. Any shares purchased will be retired. The program is scheduled to expire on February 6, 2020 . The timing and actual number of shares purchased under the program depend upon marketplace conditions and other factors. The program remains subject to the discretion of the board. Through the date of filing, the Company has repurchased $74.2 million of shares. Preferred Units of the Operating Partnership All preferred units for the Parent Company were retired, as discussed above. Common Units of the Operating Partnership Issuances: Common units were issued to the Parent Company in relation to the Parent Company's issuance of common stock, as discussed above. In April 2017, the Operating Partnership issued 195,732 limited partner units, valued at $13.1 million , as partial purchase price consideration for the acquisition of land for development. General Partners The Parent Company, as general partner, owned the following Partnership Units outstanding: December 31, (in thousands) 2017 2016 Partnership units owned by the general partner 171,365 104,497 Partnership units owned by the limited partners 350 154 Total partnership units outstanding 171,715 104,651 Percentage of partnership units owned by the general partner 99.8% 99.9% Accumulated Other Comprehensive Income (Loss) The following table presents changes in the balances of each component of AOCI: Controlling Interest Noncontrolling Interest Total (in thousands) Cash Flow Hedges Unrealized gain (loss) on Available-For-Sale Securities AOCI Cash Flow Hedges Unrealized gain (loss) on Available-For-Sale Securities AOCI AOCI Balance as of December 31, 2014 $ (57,748 ) — (57,748 ) (750 ) — (750 ) (58,498 ) Other comprehensive income before reclassifications (9,897 ) (43 ) (9,940 ) (192 ) — (192 ) (10,132 ) Amounts reclassified from accumulated other comprehensive income 8,995 — 8,995 157 — 157 9,152 Current period other comprehensive income, net (902 ) (43 ) (945 ) (35 ) — (35 ) (980 ) Balance as of December 31, 2015 $ (58,650 ) (43 ) (58,693 ) (785 ) — (785 ) (59,478 ) Other comprehensive income before reclassifications (10,587 ) 24 (10,563 ) 255 — 255 (10,308 ) Amounts reclassified from accumulated other comprehensive income 50,910 — 50,910 229 — 229 51,139 Current period other comprehensive income, net 40,323 24 40,347 484 — 484 40,831 Balance as of December 31, 2016 $ (18,327 ) (19 ) (18,346 ) (301 ) — (301 ) (18,647 ) Other comprehensive income before reclassifications 1,134 (8 ) 1,126 17 — 17 1,143 Amounts reclassified from accumulated other comprehensive income 10,931 — 10,931 172 — 172 11,103 Current period other comprehensive income, net 12,065 (8 ) 12,057 189 — 189 12,246 Balance as of December 31, 2017 $ (6,262 ) (27 ) (6,289 ) (112 ) — (112 ) (6,401 ) The following represents amounts reclassified out of AOCI into income: AOCI Component Amount Reclassified from AOCI into Income Affected Line Item(s) Where Net Income is Presented Year ended December 31, (in thousands) 2017 2016 2015 Interest rate swaps $ 11,103 51,139 9,152 Interest expense and Loss on derivative instruments |
Earnings per Share and Unit
Earnings per Share and Unit | 12 Months Ended |
Dec. 31, 2017 | |
Earnings per Share and Unit [Abstract] | |
Earnings per Share and Unit | Earnings per Share and Unit Parent Company Earnings per Share The following summarizes the calculation of basic and diluted earnings per share: Year ended December 31, (in thousands, except per share data) 2017 2016 2015 Numerator: Income from operations attributable to common stockholders - basic $ 159,949 143,860 128,994 Income from operations attributable to common stockholders - diluted $ 159,949 143,860 128,994 Denominator: Weighted average common shares outstanding for basic EPS 159,536 100,863 94,391 Weighted average common shares outstanding for diluted EPS (1) 159,960 101,285 94,856 Income per common share – basic $ 1.00 1.43 1.37 Income per common share – diluted $ 1.00 1.42 1.36 (1) Includes the dilutive impact of unvested restricted stock. Amounts excluded for each because they would be anti-dilutive include: The 1.3 million shares issuable under the forward equity offering outstanding at December 31, 2017 and 2016, using the treasury stock method . Income allocated to noncontrolling interests of the Operating Partnership has been excluded from the numerator and exchangeable Operating Partnership units have been omitted from the denominator for the purpose of computing diluted earnings per share since the effect of including these amounts in the numerator and denominator would have no impact. Weighted average exchangeable Operating Partnership units outstanding for the years ended December 31, 2017 , 2016, and 2015 were 295,054 , 154,170 , and 154,170 respectively. Operating Partnership Earnings per Unit The following summarizes the calculation of basic and diluted earnings per unit: Year ended December 31, (in thousands, except per share data) 2017 2016 2015 Numerator: Income from operations attributable to common unit holders - basic $ 160,337 144,117 129,234 Income from operations attributable to common unit holders - diluted $ 160,337 144,117 129,234 Denominator: Weighted average common units outstanding for basic EPU 159,831 101,017 94,546 Weighted average common units outstanding for diluted EPU (1) 160,255 101,439 95,011 Income per common unit – basic $ 1.00 1.43 1.37 Income per common unit – diluted $ 1.00 1.42 1.36 (1) Includes the dilutive impact of unvested restricted stock and forward equity offering using the treasury stock method. |
Operating Leases
Operating Leases | 12 Months Ended |
Dec. 31, 2017 | |
Leases [Abstract] | |
Operating Leases | Operating Leases The Company's properties are leased to tenants under operating leases. Our leases for tenant space under 10,000 square feet generally have initial terms ranging from three to seven years. Leases greater than 10,000 square feet generally have initial lease terms in excess of five years, mostly comprised of anchor tenants. Many of the anchor leases contain provisions allowing the tenant the option of extending the term of the lease at expiration. Future minimum rents under non-cancelable operating leases as of December 31, 2017 , excluding both tenant reimbursements of operating expenses and additional percentage rent based on tenants' sales, are as follows: In Process Year Ending December 31, Future Minimum Rents (in thousands) 2018 $ 734,157 2019 669,345 2020 589,515 2021 505,592 2022 412,924 Thereafter 1,643,594 Total $ 4,555,127 The shopping centers' tenant base primarily includes national and regional supermarkets, drug stores, discount department stores, restaurants, and other retailers and, consequently, the credit risk is concentrated in the retail industry. Grocer anchor tenants represent approximately 18% of pro-rata annual base rent. There were no tenants that individually represented more than 5% of the Company's annualized future minimum rents. The Company has shopping centers that are subject to non-cancelable, long-term ground leases where a third party owns and has leased the underlying land to the Company to construct and/or operate a shopping center. Ground leases expire through the year 2101 , and in most cases, provide for renewal options. Buildings and improvements constructed on the leased land are capitalized and depreciated over the shorter of the useful life of the improvements or the lease term. In addition, the Company has non-cancelable operating leases pertaining to office space from which it conducts its business. Office leases expire through the year 2029 , and in most cases, provide for renewal options. Leasehold improvements are capitalized, recorded as tenant improvements, and depreciated over the shorter of the useful life of the improvements or the lease term. Operating lease expense was $18.4 million , $13.1 million , and $9.5 million for the years ended December 31, 2017 , 2016 , and 2015 , respectively. The following table summarizes the future obligations under non-cancelable operating leases as of December 31, 2017 : In Process Year Ending December 31, Future Obligations (in thousands) 2018 $ 14,266 2019 15,329 2020 14,778 2021 13,907 2022 13,049 Thereafter 481,972 Total $ 553,301 |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2017 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Commitments and Contingencies Litigation The Company is involved in litigation on a number of matters and is subject to certain claims, which arise in the normal course of business, none of which, in the opinion of management, is expected to have a material adverse effect on the Company's consolidated financial position, results of operations, or liquidity. Legal fees are expensed as incurred. After the announcement of the merger agreement on November 14, 2016, a putative class action was filed on behalf of a purported stockholder in the Circuit Court for Duval County, Florida, under the following caption: Robert Garfield on Behalf of Himself and All Others Similarly Situated vs. Regency Centers Corporation, Martin E. Stein, Jr., John C. Schweitzer, Raymond L. Bank, Bryce Blair, C. Ronald Blankenship, J. Dix Druce, Jr., Mary Lou Fiala, David P. O'Connor, and Thomas G. Wattles, No. 16-2017-CA-000688-XXXX-MA, filed February 3, 2017. The class action alleges, among other matters, that the definitive joint proxy statement/prospectus filed by Regency and Equity One with the Securities and Exchange Commission (the “SEC”) on January 24, 2017 (the “Joint Proxy Statement/Prospectus”) omitted certain material information in connection with the merger. The complainant saught various remedies, including injunctive relief to prevent the consummation of the merger unless certain allegedly material information was disclosed and saught compensatory and rescissory damages in the event the merger was consummated without such disclosures. On February 17, 2017, the defendants entered into a stipulation of settlement with respect to the class action, pursuant to which the parties have agreed, among other things, that Regency will make certain supplemental disclosures. The supplemental disclosures were made by Regency in the Current Report on Form 8-K filed by Regency with the SEC on February 17, 2017. The stipulation of settlement was approved by the courts and the case dismissed in January 2018. Environmental The Company is also subject to numerous environmental laws and regulations as they apply to real estate pertaining to chemicals used by the dry cleaning industry, the existence of asbestos in older shopping centers, and underground petroleum storage tanks. The Company believes that the ultimate disposition of currently known environmental matters will not have a material effect on its financial position, liquidity, or operations. The Company can give no assurance that existing environmental studies with respect to the shopping centers have revealed all potential environmental contaminants or liabilities; that any previous owner, occupant or tenant did not create any material environmental condition not known to it; that the current environmental condition of the shopping centers will not be affected by tenants and occupants, by the condition of nearby properties, or by unrelated third parties; or that changes in applicable environmental laws and regulations or their interpretation will not result in additional material environmental liability to the Company. Letter of Credit The Company has the right to issue letters of credit under the Line up to an amount not to exceed $50.0 million , which reduces the credit availability under the Line. These letters of credit are primarily issued as collateral on behalf of its captive insurance program and to facilitate the construction of development projects. As of December 31, 2017 and 2016 , the Company had $9.4 million and $5.8 million in letters of credit outstanding, respectively. Purchase Commitments The Company enters purchase and sale agreements to buy or sell real estate assets in the normal course of business, which generally provide limited recourse if either party ends the contract. In addition, at December 31, 2017 , the Company has a commitment to purchase up to 100% ownership interest in an operating property valued at $205 million by November 2019 , currently expecting to acquire 30% interest by that date. |
Summary of Quarterly Financial
Summary of Quarterly Financial Data | 12 Months Ended |
Dec. 31, 2017 | |
Quarterly Financial Information Disclosure [Abstract] | |
Summary of Quarterly Financial Data | Summary of Quarterly Financial Data (Unaudited) The following table summarizes selected Quarterly Financial Data for the Company on a historical basis for the years ended December 31, 2017 and 2016 : (in thousands except per share and per unit data) First Quarter Second Quarter Third Quarter Fourth Quarter Year ended December 31, 2017 Operating Data: Revenue $ 196,131 261,305 262,141 264,749 Net income attributable to common stockholders $ (33,223 ) 48,368 59,666 85,138 Net income attributable to exchangeable operating partnership units (19 ) 104 132 171 Net income attributable to common unit holders $ (33,242 ) 48,472 59,798 85,309 Net income attributable to common stock and unit holders per share and unit: Basic $ (0.26 ) 0.28 0.35 0.50 Diluted $ (0.26 ) 0.28 0.35 0.50 Year ended December 31, 2016 Operating Data: Revenue $ 149,628 152,413 152,769 159,561 Net income attributable to common stockholders $ 47,877 34,810 5,305 55,868 Net income attributable to exchangeable operating partnership units 85 64 16 92 Net income attributable to common unit holders $ 47,962 34,874 5,321 55,960 Net income attributable to common stock and unit holders per share and unit: Basic $ 0.49 0.36 0.05 0.53 Diluted $ 0.49 0.35 0.05 0.53 |
Schedule III - Consolidated Rea
Schedule III - Consolidated Real Estate and Accumulated Depreciation | 12 Months Ended |
Dec. 31, 2017 | |
SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Abstract] | |
Consolidated Real Estate and Accumulated Depreciation | REGENCY CENTERS CORPORATION AND REGENCY CENTERS, L.P. Initial Cost Total Cost Net Cost Shopping Centers (1) Land (3) Building & Improvements (3) Cost Capitalized Subsequent to Acquisition (2) (3) Land (3) Building & Improvements (3) Total (3) Accumulated Depreciation (3) Net of Accumulated Depreciation (3) Mortgages 101 7th Avenue $ 48,339 34,895 — 48,339 34,895 83,234 934 82,300 — 1175 Third Avenue 40,560 25,617 — 40,560 25,617 66,177 623 65,554 — 1225-1239 Second Ave 23,033 17,173 46 23,033 17,219 40,252 447 39,805 — 200 Potrero 4,860 2,251 — 4,860 2,251 7,111 87 7,024 — 22 Crescent Road 2,152 318 — 2,152 318 2,470 18 2,452 — 4S Commons Town Center 30,760 35,830 1,230 30,812 37,008 67,820 22,825 44,995 85,000 90-30 Metropolitan Avenue 16,355 24,429 79 16,355 24,508 40,863 536 40,327 — 91 Danbury Road 690 893 — 690 893 1,583 31 1,552 — Alafaya Commons 7,388 12,690 77 7,388 12,767 20,155 557 19,598 — Alafaya Village 2,806 6,046 63 2,806 6,109 8,915 216 8,699 — Ambassador Row 2,572 20,457 — 2,572 20,457 23,029 819 22,210 — Ambassador Row Courtyards 1,779 6,783 553 1,779 7,336 9,115 380 8,735 — Amerige Heights Town Center 10,109 11,288 614 10,109 11,902 22,011 4,340 17,671 15,844 Anastasia Plaza 9,065 — 639 3,338 6,366 9,704 2,324 7,380 — Ashburn Farm Market Center 9,835 4,812 640 9,835 5,452 15,287 4,272 11,015 — Ashford Place 2,584 9,865 1,105 2,584 10,970 13,554 7,247 6,307 — Atlantic Village 2,446 20,663 23 2,446 20,686 23,132 701 22,431 — Aventura Shopping Center 2,751 10,459 9,663 8,975 13,898 22,873 121 22,752 — Aventura Square 86,933 21,936 1,695 88,492 22,072 110,564 696 109,868 8,176 Balboa Mesa Shopping Center 23,074 33,838 13,915 27,758 43,069 70,827 9,747 61,080 — Banco Popular Building 2,003 1,294 47 2,016 1,328 3,344 55 3,289 — Belleview Square 8,132 9,756 3,097 8,323 12,662 20,985 7,389 13,596 — Belmont Chase 13,881 17,193 (588 ) 14,372 16,114 30,486 2,527 27,959 — Berkshire Commons 2,295 9,551 2,247 2,965 11,128 14,093 7,351 6,742 — Bird 107 Plaza 10,108 5,399 8 10,108 5,407 15,515 192 15,323 — Bird Ludlam 40,945 40,200 66 40,945 40,266 81,211 1,228 79,983 — Black Rock 22,251 20,815 301 22,250 21,117 43,367 3,535 39,832 20,000 Bloomingdale Square 3,940 14,912 3,174 4,430 17,596 22,026 9,152 12,874 — Bluebonnet Village 3,688 10,167 533 3,688 10,700 14,388 438 13,950 — Bluffs Square Shoppes 6,412 13,072 (165 ) 6,412 12,907 19,319 527 18,792 — Boca Village Square 42,543 11,043 30 42,543 11,073 53,616 464 53,152 — Boulevard Center 3,659 10,787 2,268 3,659 13,055 16,714 6,647 10,067 — REGENCY CENTERS CORPORATION AND REGENCY CENTERS, L.P. Initial Cost Total Cost Net Cost Shopping Centers (1) Land (3) Building & Improvements (3) Cost Capitalized Subsequent to Acquisition (2) (3) Land (3) Building & Improvements (3) Total (3) Accumulated Depreciation (3) Net of Accumulated Depreciation (3) Mortgages Boynton Lakes Plaza 2,628 11,236 4,936 3,606 15,194 18,800 6,817 11,983 — Boynton Plaza 11,781 21,812 106 11,781 21,918 33,699 694 33,005 — Brentwood Plaza 2,788 3,473 289 2,788 3,762 6,550 1,242 5,308 — Briarcliff La Vista 694 3,292 495 694 3,787 4,481 2,746 1,735 — Briarcliff Village 4,597 24,836 2,054 4,597 26,890 31,487 17,528 13,959 — Brick Walk 25,299 41,995 1,042 25,299 43,037 68,336 5,447 62,889 33,000 BridgeMill Market 6,303 14,526 276 6,303 14,802 21,105 540 20,565 5,596 Bridgeton 3,033 8,137 485 3,067 8,588 11,655 2,226 9,429 — Brighten Park 3,983 18,687 11,341 4,234 29,777 34,011 14,230 19,781 — Broadway Plaza 40,391 42,281 — 40,391 42,281 82,672 1,155 81,517 — Brooklyn Station on Riverside 7,019 8,688 (34 ) 7,019 8,654 15,673 1,095 14,578 — Brookside Plaza 33,612 19,043 151 33,612 19,194 52,806 854 51,952 — Buckhead Court 1,417 7,432 3,371 1,417 10,803 12,220 6,232 5,988 — Buckhead Station 69,831 35,397 2,217 69,868 37,577 107,445 1,306 106,139 — Buckley Square 2,970 5,978 1,151 2,970 7,129 10,099 4,026 6,073 — Caligo Crossing 2,459 4,897 39 2,546 4,849 7,395 2,536 4,859 — Cambridge Square 774 4,347 784 774 5,131 5,905 3,109 2,796 — Carmel Commons 2,466 12,548 5,119 3,422 16,711 20,133 9,047 11,086 — Carriage Gate 833 4,974 3,042 1,302 7,547 8,849 5,608 3,241 — Cashmere Corners 2,268 10,317 37 2,268 10,354 12,622 401 12,221 — Centerplace of Greeley III 6,661 11,502 460 5,694 12,929 18,623 4,447 14,176 — Charlotte Square 545 7,441 389 545 7,830 8,375 306 8,069 — Chasewood Plaza 4,612 20,829 5,234 6,518 24,157 30,675 15,835 14,840 — Chastain Square 29,501 13,217 1,278 29,501 14,495 43,996 551 43,445 — Cherry Grove 3,533 15,862 4,063 3,533 19,925 23,458 9,494 13,964 — Circle Center West 22,602 9,355 14 22,602 9,369 31,971 353 31,618 10,198 CityLine Market 12,208 15,839 71 12,246 15,872 28,118 1,404 26,714 — CityLine Market Phase II 2,611 3,233 (47 ) 2,611 3,186 5,797 186 5,611 — Clayton Valley Shopping Center 24,189 35,422 2,722 24,538 37,795 62,333 22,624 39,709 — Clocktower Plaza Shopping Ctr 48,907 20,347 64 48,907 20,411 69,318 594 68,724 — Clybourn Commons 15,056 5,594 254 15,056 5,848 20,904 925 19,979 — Cochran's Crossing 13,154 12,315 1,150 13,154 13,465 26,619 9,374 17,245 — REGENCY CENTERS CORPORATION AND REGENCY CENTERS, L.P. Initial Cost Total Cost Net Cost Shopping Centers (1) Land (3) Building & Improvements (3) Cost Capitalized Subsequent to Acquisition (2) (3) Land (3) Building & Improvements (3) Total (3) Accumulated Depreciation (3) Net of Accumulated Depreciation (3) Mortgages Compo Acres Shopping Center 28,096 10,925 235 28,096 11,160 39,256 312 38,944 — Concord Shopping Plaza 28,037 39,288 453 28,490 39,288 67,778 1,143 66,635 27,750 Copps Hill Plaza 28,508 41,680 194 28,508 41,874 70,382 1,285 69,097 14,221 Coral Reef Shopping Center 14,210 15,913 — 14,210 15,913 30,123 516 29,607 — Corkscrew Village 8,407 8,004 595 8,407 8,599 17,006 3,238 13,768 — Cornerstone Square 1,772 6,944 1,683 1,772 8,627 10,399 5,254 5,145 — Corvallis Market Center 6,674 12,244 456 6,696 12,678 19,374 5,254 14,120 — Costa Verde Center 12,740 26,868 1,640 12,798 28,450 41,248 15,398 25,850 — Countryside Shops 16,667 30,087 (108 ) 16,667 29,979 46,646 1,035 45,611 — Courtyard Shopping Center 5,867 4 3 5,867 7 5,874 2 5,872 — Crossroads Square 7,257 13,212 31 7,257 13,243 20,500 508 19,992 — Culpeper Colonnade 15,944 10,601 4,893 16,258 15,180 31,438 9,033 22,405 — Culver Center 108,355 32,798 144 108,355 32,942 141,297 1,157 140,140 — Danbury Green 29,579 19,979 105 29,579 20,084 49,663 601 49,062 — Dardenne Crossing 4,194 4,005 328 4,343 4,184 8,527 1,556 6,971 — Darinor Plaza — 32,832 529 — 33,361 33,361 1,006 32,355 — Diablo Plaza 5,300 8,181 1,444 5,300 9,625 14,925 4,906 10,019 — Dunwoody Village 3,342 15,934 4,041 3,342 19,975 23,317 13,297 10,020 — East Pointe 1,730 7,189 2,024 1,941 9,002 10,943 5,157 5,786 — East Washington Place 15,993 40,180 1,743 15,509 42,407 57,916 9,140 48,776 — El Camino Shopping Center 7,600 11,538 11,954 10,000 21,092 31,092 6,317 24,775 — El Cerrito Plaza 11,025 27,371 1,337 11,025 28,708 39,733 9,450 30,283 36,436 El Norte Parkway Plaza 2,834 7,370 3,308 3,263 10,249 13,512 4,965 8,547 — Elmwood Oaks Shopping Center 5,139 9,542 244 5,139 9,786 14,925 534 14,391 — Encina Grande 5,040 11,572 19,253 10,053 25,812 35,865 9,887 25,978 — Fairfax Shopping Center 15,239 11,367 (8,807 ) 10,793 7,006 17,799 6,691 11,108 — Fairfield 6,731 29,420 610 6,731 30,030 36,761 3,695 33,066 — Falcon Marketplace 1,340 4,168 442 1,340 4,610 5,950 2,086 3,864 — Fellsway Plaza 30,712 7,327 10,094 34,923 13,210 48,133 3,886 44,247 37,500 Fenton Marketplace 2,298 8,510 (8,240 ) 512 2,056 2,568 705 1,863 — Fleming Island 3,077 11,587 2,979 3,111 14,532 17,643 7,240 10,403 — Folsom Prairie City Crossing 4,164 13,032 619 4,164 13,651 17,815 5,890 11,925 — REGENCY CENTERS CORPORATION AND REGENCY CENTERS, L.P. Initial Cost Total Cost Net Cost Shopping Centers (1) Land (3) Building & Improvements (3) Cost Capitalized Subsequent to Acquisition (2) (3) Land (3) Building & Improvements (3) Total (3) Accumulated Depreciation (3) Net of Accumulated Depreciation (3) Mortgages Fountain Square 29,650 28,984 21 29,719 28,936 58,655 4,835 53,820 — French Valley Village Center 11,924 16,856 237 11,822 17,195 29,017 11,234 17,783 — Friars Mission Center 6,660 28,021 1,730 6,660 29,751 36,411 14,164 22,247 — Ft. Caroline 595 2,509 32 595 2,541 3,136 243 2,893 — Gardens Square 2,136 8,273 601 2,136 8,874 11,010 4,743 6,267 — Gateway 101 24,971 9,113 (1,356 ) 24,971 7,757 32,728 2,872 29,856 — Gateway Shopping Center 52,665 7,134 8,803 55,346 13,256 68,602 13,622 54,980 — Gelson's Westlake Market Plaza 3,157 11,153 5,677 4,654 15,333 19,987 6,098 13,889 — Glen Oak Plaza 4,103 12,951 557 4,103 13,508 17,611 3,386 14,225 — Glengary Shoppes 8,170 12,715 — 8,170 12,715 20,885 555 20,330 — Glenwood Village 1,194 5,381 290 1,194 5,671 6,865 4,094 2,771 — Golden Hills Plaza 12,699 18,482 3,607 11,528 23,260 34,788 7,762 27,026 — Grand Ridge Plaza 24,208 61,033 3,434 24,879 63,796 88,675 13,941 74,734 — Greenwood Shopping Centre 6,287 26,263 360 6,287 26,623 32,910 836 32,074 — Hammocks Town Center 26,380 27,498 — 26,380 27,498 53,878 1,018 52,860 — Hancock 8,232 28,260 1,808 8,232 30,068 38,300 15,494 22,806 — Harpeth Village Fieldstone 2,284 9,443 580 2,284 10,023 12,307 5,008 7,299 — Harris Crossing 7,199 3,687 (1,631 ) 5,508 3,747 9,255 2,113 7,142 — Heritage Plaza 12,390 26,097 13,851 12,215 40,123 52,338 16,384 35,954 — Hershey 7 808 8 7 816 823 395 428 — Hibernia Pavilion 4,929 5,065 84 4,929 5,149 10,078 2,673 7,405 — Hickory Creek Plaza 5,629 4,564 439 5,629 5,003 10,632 3,830 6,802 — Hillcrest Village 1,600 1,909 51 1,600 1,960 3,560 947 2,613 — Hilltop Village 2,995 4,581 2,966 3,104 7,438 10,542 1,672 8,870 — Hinsdale 5,734 16,709 11,903 8,343 26,003 34,346 11,456 22,890 — Holly Park 8,975 23,799 (177 ) 8,828 23,769 32,597 3,533 29,064 — Homestead McDonald's 2,110 119 — 2,110 119 2,229 7 2,222 — Howell Mill Village 5,157 14,279 2,391 5,157 16,670 21,827 5,564 16,263 — Hyde Park 9,809 39,905 2,930 9,809 42,835 52,644 23,693 28,951 — Indian Springs 24,974 25,903 116 25,034 25,959 50,993 2,989 48,004 — Indio Towne Center 17,946 32,617 5,394 23,105 32,852 55,957 14,848 41,109 — Inglewood Plaza 1,300 2,159 627 1,300 2,786 4,086 1,370 2,716 — REGENCY CENTERS CORPORATION AND REGENCY CENTERS, L.P. Initial Cost Total Cost Net Cost Shopping Centers (1) Land (3) Building & Improvements (3) Cost Capitalized Subsequent to Acquisition (2) (3) Land (3) Building & Improvements (3) Total (3) Accumulated Depreciation (3) Net of Accumulated Depreciation (3) Mortgages Jefferson Square 5,167 6,445 (7,220 ) 1,894 2,498 4,392 660 3,732 — Keller Town Center 2,294 12,841 596 2,404 13,327 15,731 6,380 9,351 — Kent Place 4,855 3,586 805 5,269 3,977 9,246 789 8,457 8,250 Kirkman Shoppes 8,085 27,518 167 8,089 27,681 35,770 838 34,932 — Kirkwood Commons 6,772 16,224 666 6,802 16,860 23,662 3,967 19,695 9,383 Klahanie Shopping Center 14,451 20,089 385 14,451 20,474 34,925 1,082 33,843 — Kroger New Albany Center 3,844 6,599 811 3,844 7,410 11,254 5,220 6,034 — Lake Mary Centre 19,181 62,066 792 19,181 62,858 82,039 2,142 79,897 — Lake Pine Plaza 2,008 7,632 706 2,029 8,317 10,346 4,283 6,063 — Lantana Outparcels 3,496 1,219 — 3,496 1,219 4,715 71 4,644 — Lebanon/Legacy Center 3,913 7,874 53 3,913 7,927 11,840 5,648 6,192 — Littleton Square 2,030 8,859 (3,869 ) 2,423 4,597 7,020 1,951 5,069 — Lloyd King Center 1,779 10,060 1,126 1,779 11,186 12,965 5,870 7,095 — Lower Nazareth Commons 15,992 12,964 3,585 16,343 16,198 32,541 7,474 25,067 — Magnolia Shoppes 16,546 8,384 42 16,546 8,426 24,972 561 24,411 — Mandarin Landing 5,942 29,201 290 5,942 29,491 35,433 926 34,507 — Market at Colonnade Center 6,455 9,839 69 6,160 10,203 16,363 3,377 12,986 — Market at Preston Forest 4,400 11,445 1,211 4,400 12,656 17,056 6,483 10,573 — Market at Round Rock 2,000 9,676 6,467 2,000 16,143 18,143 8,776 9,367 — Market at Springwoods Village 13,457 11,346 — 13,457 11,346 24,803 261 24,542 8,569 Market Common Clarendon 154,932 126,328 806 154,932 127,134 282,066 7,561 274,505 — Marketplace at Briargate 1,706 4,885 141 1,727 5,005 6,732 2,510 4,222 — Marketplace Shopping Center 1,287 5,509 5,536 1,330 11,002 12,332 6,392 5,940 — Millhopper Shopping Center 1,073 5,358 5,958 1,901 10,488 12,389 6,578 5,811 — Mockingbird Commons 3,000 10,728 1,640 3,000 12,368 15,368 6,035 9,333 — Monument Jackson Creek 2,999 6,765 730 2,999 7,495 10,494 5,379 5,115 — Morningside Plaza 4,300 13,951 719 4,300 14,670 18,970 7,400 11,570 — Murryhill Marketplace 2,670 18,401 12,799 2,903 30,967 33,870 11,309 22,561 — Naples Walk 18,173 13,554 1,060 18,173 14,614 32,787 5,658 27,129 — Newberry Square 2,412 10,150 765 2,412 10,915 13,327 7,943 5,384 — Newland Center 12,500 10,697 8,081 16,179 15,099 31,278 7,033 24,245 — Nocatee Town Center 10,124 8,691 7,106 10,478 15,443 25,921 4,216 21,705 — REGENCY CENTERS CORPORATION AND REGENCY CENTERS, L.P. Initial Cost Total Cost Net Cost Shopping Centers (1) Land (3) Building & Improvements (3) Cost Capitalized Subsequent to Acquisition (2) (3) Land (3) Building & Improvements (3) Total (3) Accumulated Depreciation (3) Net of Accumulated Depreciation (3) Mortgages North Hills 4,900 19,774 1,231 4,900 21,005 25,905 10,584 15,321 — Northgate Marketplace 5,668 13,727 (52 ) 4,995 14,348 19,343 4,060 15,283 — Northgate Marketplace Phase II 12,189 29,050 — 12,189 29,050 41,239 1,689 39,550 — Northgate Plaza (Maxtown Road) 1,769 6,652 4,807 2,839 10,389 13,228 4,272 8,956 — Northgate Square 5,011 8,692 1,026 5,011 9,718 14,729 3,683 11,046 — Northlake Village 2,662 11,284 1,511 2,686 12,771 15,457 6,223 9,234 — Oak Shade Town Center 6,591 28,966 679 6,591 29,645 36,236 6,921 29,315 8,149 Oakbrook Plaza 4,000 6,668 5,152 4,981 10,839 15,820 3,659 12,161 — Oakleaf Commons 3,503 11,671 55 3,190 12,039 15,229 5,281 9,948 — Ocala Corners 1,816 10,515 475 1,816 10,990 12,806 3,246 9,560 4,389 Old Kings Commons 3,350 5,678 21 3,350 5,699 9,049 262 8,787 — Old St Augustine Plaza 2,368 11,405 7,749 3,163 18,359 21,522 6,175 15,347 — Pablo Plaza 10,736 19,315 3,766 10,739 23,078 33,817 946 32,871 — Paces Ferry Plaza 2,812 12,639 (462 ) 2,812 12,177 14,989 7,620 7,369 — Panther Creek 14,414 14,748 3,763 15,212 17,713 32,925 11,984 20,941 — Pavilion 13,938 23,747 333 13,938 24,080 38,018 879 37,139 — Peartree Village 5,197 19,746 866 5,197 20,612 25,809 11,701 14,108 — Persimmons Place 25,975 38,114 17 26,600 37,506 64,106 5,359 58,747 — Piedmont Peachtree Crossing 45,118 17,027 52 45,118 17,079 62,197 669 61,528 — Pike Creek 5,153 20,652 1,962 5,251 22,516 27,767 11,740 16,027 — Pine Island 19,358 29,641 1,501 19,358 31,142 50,500 1,276 49,224 — Pine Lake Village 6,300 10,991 969 6,300 11,960 18,260 6,120 12,140 — Pine Ridge Square 12,565 24,534 116 12,565 24,650 37,215 781 36,434 — Pine Tree Plaza 668 6,220 609 668 6,829 7,497 3,471 4,026 — Plaza Escuela 24,677 104,547 23 24,677 104,570 129,247 2,498 126,749 — Plaza Hermosa 4,200 10,109 3,243 4,202 13,350 17,552 6,138 11,414 — Pleasanton Plaza 20,560 26,022 14 20,560 26,036 46,596 830 45,766 — Point Royale Shopping Center 17,246 15,738 498 17,730 15,752 33,482 716 32,766 — Post Road Plaza 14,997 5,439 150 14,997 5,589 20,586 164 20,422 — Potrero Center 133,422 116,758 — 133,422 116,758 250,180 2,853 247,327 — Powell Street Plaza 8,248 30,716 2,403 8,248 33,119 41,367 14,506 26,861 — Powers Ferry Square 3,687 17,965 6,848 5,348 23,152 28,500 14,585 13,915 — REGENCY CENTERS CORPORATION AND REGENCY CENTERS, L.P. Initial Cost Total Cost Net Cost Shopping Centers (1) Land (3) Building & Improvements (3) Cost Capitalized Subsequent to Acquisition (2) (3) Land (3) Building & Improvements (3) Total (3) Accumulated Depreciation (3) Net of Accumulated Depreciation (3) Mortgages Powers Ferry Village 1,191 4,672 518 1,191 5,190 6,381 3,620 2,761 — Preston Oaks 763 30,438 641 763 31,079 31,842 4,364 27,478 — Prestonbrook 7,069 8,622 577 7,069 9,199 16,268 6,513 9,755 — Prosperity Centre 10,120 27,777 25 10,120 27,802 37,922 913 37,009 — Ralphs Circle Center 20,653 6,602 — 20,653 6,602 27,255 266 26,989 — Red Bank Village 10,336 9,505 (89 ) 10,110 9,642 19,752 2,598 17,154 — Regency Commons 3,917 3,616 236 3,917 3,852 7,769 2,355 5,414 — Regency Square 4,770 25,191 5,713 5,060 30,614 35,674 22,980 12,694 — Rona Plaza 1,500 4,917 221 1,500 5,138 6,638 2,855 3,783 — Roosevelt Square 40,371 32,108 — 40,371 32,108 72,479 — 72,479 — Russell Ridge 2,234 6,903 1,403 2,234 8,306 10,540 4,847 5,693 — Ryanwood Square 9,912 10,714 (63 ) 9,912 10,651 20,563 446 20,117 — Salerno Village 1,279 76 — 1,279 76 1,355 4 1,351 — Sammamish-Highlands 9,300 8,075 8,145 9,592 15,928 25,520 7,309 18,211 — San Carlos Marketplace 33,977 59,916 — 33,977 59,916 93,893 1,446 92,447 — San Leandro Plaza 1,300 8,226 558 1,300 8,784 10,084 4,335 5,749 — Sandy Springs 6,889 28,056 2,562 6,889 30,618 37,507 5,351 32,156 — Sawgrass Promenade 10,106 13,264 115 10,106 13,379 23,485 509 22,976 — Scripps Ranch Marketplace 59,949 26,334 — 59,949 26,334 86,283 — 86,283 27,000 Sequoia Station 9,100 18,356 1,744 9,100 20,100 29,200 9,798 19,402 — Serramonte Center 383,465 127,304 2,991 383,465 130,295 513,760 4,608 509,152 — Shaw's at Plymouth 3,753 8,582 — 3,753 8,582 12,335 303 12,032 — Sheridan Plaza 76,375 103,159 730 76,375 103,889 180,264 3,122 177,142 55,875 Sherwood Crossings 2,731 6,360 690 2,731 7,050 9,781 2,887 6,894 — Shoppes 104 11,193 — 1,013 6,652 5,554 12,206 2,201 10,005 — Shoppes at Homestead (fka Loehmanns Plaza California) 5,420 9,450 1,667 5,420 11,117 16,537 5,457 11,080 — Shoppes at Lago Mar 7,575 12,094 33 7,575 12,127 19,702 464 19,238 — Shoppes at Sunlake Centre 13,584 18,150 48 13,584 18,198 31,782 668 31,114 — Shoppes of Grande Oak 5,091 5,985 393 5,091 6,378 11,469 4,885 6,584 — Shoppes of Jonathan's Landing 3,859 6,243 67 3,859 6,310 10,169 207 9,962 — Shoppes of Oakbrook 18,130 45,400 345 18,130 45,745 63,875 1,350 62,525 5,339 REGENCY CENTERS CORPORATION AND REGENCY CENTERS, L.P. Initial Cost Total Cost Net Cost Shopping Centers (1) Land (3) Building & Improvements (3) Cost Capitalized Subsequent to Acquisition (2) (3) Land (3) Building & Improvements (3) Total (3) Accumulated Depreciation (3) Net of Accumulated Depreciation (3) Mortgages Shoppes of Silver Lakes 14,544 24,814 15 14,544 24,829 39,373 855 38,518 — Shoppes of Sunset 2,678 1,497 — 2,678 1,497 4,175 73 4,102 — Shoppes of Sunset II 2,669 880 (2 ) 2,669 878 3,547 60 3,487 — Shops at County Center 9,957 11,296 922 10,254 11,921 22,175 7,897 14,278 — Shops at Erwin Mill 9,082 6,124 122 9,082 6,246 15,328 1,734 13,594 10,000 Shops at Johns Creek 1,863 2,014 (335 ) 1,501 2,041 3,542 1,241 2,301 — Shops at Mira Vista 11,691 9,026 104 11,691 9,130 20,821 1,423 19,398 234 Shops at Quail Creek 1,487 7,717 417 1,458 8,163 9,621 3,119 6,502 — Shops at Saugus 19,201 17,984 (306 ) 18,811 18,068 36,879 8,289 28,590 — Shops at Skylake 80,089 43,837 37 80,099 43,864 123,963 1,597 122,366 — Shops at Stonewall 27,511 22,123 8,717 28,633 29,718 58,351 15,450 42,901 — Shops on Main 17,020 27,055 6,819 18,399 32,495 50,894 5,622 45,272 — Siegen Village 5,569 12,726 74 5,569 12,800 18,369 676 17,693 — Sope Creek Crossing (fka Delk Spectrum) 2,985 12,001 2,913 3,332 14,567 17,899 7,494 10,405 — South Bay Village 11,714 15,580 1,712 11,776 17,230 29,006 3,342 25,664 — South Beach Regional 25,705 55,888 98 25,705 55,986 81,691 1,936 79,755 — South Point 6,266 8,235 16 6,266 8,251 14,517 307 14,210 — Southbury Green 25,929 35,058 33 25,929 35,091 61,020 1,045 59,975 — Southcenter 1,300 12,750 1,885 1,300 14,635 15,935 7,054 8,881 — Southpark at Cinco Ranch 18,395 11,306 7,354 21,438 15,617 37,055 4,200 32,855 — SouthPoint Crossing 4,412 12,235 831 4,382 13,096 17,478 6,384 11,094 — Starke 71 1,683 6 71 1,689 1,760 728 1,032 — Star's at Cambridge 30,942 13,660 — 30,942 13,660 44,602 418 44,184 — Star's at Quincy 26,355 10,073 — 26,355 10,073 36,428 460 35,968 — Star's at West Roxbury 21,787 13,573 (37 ) 21,787 13,536 35,323 428 34,895 — Sterling Ridge 12,846 12,162 703 12,846 12,865 25,711 9,229 16,482 — Stroh Ranch 4,280 8,189 510 4,280 8,699 12,979 6,006 6,973 — Summerlin Square 1,183 1,696 — 1,183 1,696 2,879 52 2,827 — Suncoast Crossing 9,030 10,764 4,449 13,374 10,869 24,243 5,648 18,595 — Talega Village Center 21,601 12,869 5 21,601 12,874 34,475 584 33,891 — Tamarac Town Square 12,153 9,652 20 12,153 9,672 21,825 434 21,391 — Tanasbourne Market 3,269 10,861 (275 ) 3,269 10,586 13,855 4,511 9,344 — REGENCY CENTERS CORPORATION AND REGENCY CENTERS, L.P. Initial Cost Total Cost Net Cost Shopping Centers (1) Land (3) Building & Improvements (3) Cost Capitalized Subsequent to Acquisition (2) (3) Land (3) Building & Improvements (3) Total (3) Accumulated Depreciation (3) Net of Accumulated Depreciation (3) Mortgages Tassajara Crossing 8,560 15,464 1,002 8,560 16,466 25,026 8,064 16,962 — Tech Ridge Center 12,945 37,169 (128 ) 12,945 37,041 49,986 9,990 39,996 6,769 The Collection at Harvard Square 72,910 6,086 14 72,910 6,100 79,010 155 78,855 — The Gallery at Westbury Plaza 95,771 229,479 489 95,771 229,968 325,739 5,909 319,830 — The Hub Hillcrest Market 18,773 61,906 4,952 19,611 66,020 85,631 10,011 75,620 — The Marketplace Shopping Center 8,960 38,019 84 8,960 38,103 47,063 1,077 45,986 — The Plaza at St. Lucie West 1,167 6,754 — 1,167 6,754 7,921 215 7,706 — The Point at Garden City Park (fka Garden City Park) 741 9,764 214 741 9,978 10,719 762 9,957 — The Shops at Hampton Oaks 822 393 72 822 465 1,287 28 1,259 — The Village Center 43,126 13,939 2,984 43,594 16,455 60,049 469 59,580 13,930 Town and Country 4,247 5,623 5 4,247 5,628 9,875 289 9,586 — Town Square 883 8,132 389 883 8,521 9,404 4,813 4,591 — Treasure Coast Plaza 7,004 22,102 89 7,004 22,191 29,195 726 28,469 3,170 Tustin Legacy 14,455 23,801 — 14,455 23,801 38,256 345 37,911 — Twin City Plaza 17,245 44,225 2,023 17,263 46,230 63,493 15,155 48,338 — Twin Peaks 5,200 25,827 1,519 5,200 27,346 32,546 13,055 19,491 — Unigold Shopping Center 4,744 5,890 558 4,744 6,448 11,192 276 10,916 — University Commons 4,070 30,785 (2 ) 4,070 30,783 34,853 2,982 31,871 36,994 Valencia Crossroads 17,921 17,659 1,034 17,921 18,693 36,614 15,223 21,391 — Village at La Floresta 13,140 20,571 (266 ) 13,152 20,293 33,445 2,166 31,279 — Village at Lee Airpark 11,099 12,968 3,464 12,007 15,524 27,531 7,734 19,797 — Village Center 3,885 14,131 8,815 5,480 21,351 26,831 8,649 18,182 — Vons Circle Center 48,542 23,113 29 48,542 23,142 71,684 806 70,878 8,283 Walker Center 3,840 7,232 3,798 3,878 10,992 14,870 5,857 9,013 — Walmart Norwalk 19,661 21,994 — 19,661 21,994 41,655 777 40,878 — Waterstone Plaza 4,857 14,141 12 4,857 14,153 19,010 439 18,571 — Welleby Plaza 1,496 7,787 1,276 1,496 9,063 10,559 7,003 3,556 — Wellington Town Square 2,041 12,131 106 2,041 12,237 14,278 6,856 7,422 — West Bird Plaza 11,748 19,779 8 11,748 19,787 31,535 632 30,903 — West Lake Shopping Center 9,572 10,781 5 9,572 10,786 20,358 474 19,884 — West Park Plaza 5,840 5,759 1,415 5,840 7,174 13,014 3,933 9,081 — REGENCY CENTERS CORPORATION AND REGENCY CENTERS, L.P. Initial Cost Total Cost Net Cost Shopping Centers (1) Land (3) Building & Improvements (3) Cost Capitalized Subsequent to Acquisition (2) (3) Land (3) Building & Improvements (3) Total (3) Accumulated Depreciation (3) Net of Accumulated Depreciation (3) Mortgages Westbury Plaza 113,606 53,983 745 113,606 54,728 168,334 2,162 166,172 88,000 Westchase 5,302 8,273 509 5,302 8,782 14,084 3,279 10,805 6,286 Westchester Commons 3,366 11,751 10,802 4,894 21,025 25,919 6,483 19,436 — Westchester Plaza 1,857 7,572 371 1,857 7,943 9,800 5,269 4,531 — Westlake Plaza and Center 7,043 27,195 29,447 17,598 46,087 63,685 19,980 43,705 — Westport Plaza 7,982 8,507 4 7,982 8,511 16,493 353 16,140 2,897 Westwood - Manor Care 12,736 2,493 — 12,736 2,493 15,229 54 15,175 — Westwood Shopping Center 113,582 20,565 — 113,582 20,565 134,147 802 133,345 — Westwood Village 19,933 25,301 (2,064 ) 18,723 24,447 43,170 12,001 31,169 — Whole Foods at Swampscott 7,083 8,638 — 7,083 8,638 15,721 261 15,460 — Williamsburg at Dunwoody 7,108 3,996 452 7,118 4,438 11,556 198 11,358 — Willow Festival 1,954 56,501 1,553 1,954 58,054 60,008 12,883 47,125 39,505 Willows Oaks Crossing 7,325 7,847 — 7,325 7,847 15,172 1,095 14,077 — Willows Shopping Center 48,848 80,917 382 48,876 81,271 130,147 2,258 127,889 — Woodcroft Shopping Center 1,419 6,284 950 1,421 7,232 8,653 4,264 4,389 — Woodman Van Nuy 5,500 7,195 293 5,500 7,488 12,988 3,747 9,241 — Woodmen Plaza 7,621 11,018 761 7,621 11,779 19,400 10,292 9,108 — Woodside Central 3,500 9,288 586 3,489 9,885 13,374 4,891 8,483 — Young Circle Shopping Center 5,666 10,714 11 5,666 10,725 16,391 360 16,031 — Total Corporate Assets 151 — 1,931 151 1,931 2,082 1,758 324 — Land held for future development 62,103 135 9 62,061 144 62,205 9 62,196 — Properties in Development — 68,744 245,647 — 314,391 314,391 — 314,391 — $ 4,610,000 5,574,604 708,259 4,667,744 6,225,077 10,892,821 1,339,771 9,553,050 636,743 (1) See Item 2, Properties for geographic location and year each operating property was acquired. (2) The negative balance for costs capitalized subsequent to acquisition could include out-parcels sold, provision for loss recorded, and demolition of part of the property for redevelopment. (3) The initial and total cost of land, building and improvements, and related accumulated depreciation as of and for the year ended December 31, 2017, includes amounts subject to provisional accounting for shopping centers acquired from the Equity One merger, as discussed in Note 2. See accompanying report of independent registered public accounting firm. Depreciation and amortization of the Company's investment in buildings and improvements reflected in the statements of operations is calculated over the estimated useful lives of the assets, which are up to 40 years. The aggregate cost for federal income tax purposes was approximately $8.8 billion at December 31, 2017 . The changes in total real estate assets for the years ended December 31, 2017 , 2016 , and 2015 are as follows (in thousands): 2017 2016 2015 Beginning balance $ 4,933,499 4,545,900 4,409,886 Acquired properties 5,772,265 370,010 39,850 Developments and improvements 273,871 148,904 174,972 Sale of properties (86,814 ) (126,855 ) (78,808 ) Provision for impairment — (4,460 ) — Ending balance $ 10,892,821 4,933,499 4,545,900 The changes in accumulated depreciation for the years ended December 31, 2017 , 2016 , and 2015 are as follows (in thousands): 2017 2016 2015 Beginning balance $ 1,124,391 1,043,787 933,708 Depreciation expense 222,395 115,355 119,475 Sale of properties (7,015 ) (32,791 ) (9,396 ) Provision for impairment — (1,960 ) — Ending balance $ 1,339,771 1,124,391 1,043,787 |
Stock-Based Compensation (Notes
Stock-Based Compensation (Notes) | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | Stock-Based Compensation The Company recorded stock-based compensation in general and administrative expenses in the accompanying Consolidated Statements of Operations, the components of which are further described below: Year ended December 31, (in thousands) 2017 2016 2015 Restricted stock (1) $ 15,525 13,422 13,869 Directors' fees paid in common stock (1) 303 193 200 Capitalized stock-based compensation (2) (3,210 ) (2,963 ) (2,988 ) Stock based compensation attributable to post-combination service from Equity One merger 7,931 — — Stock-based compensation, net of capitalization $ 20,549 10,652 11,081 (1) Includes amortization of the grant date fair value of restricted stock awards over the respective vesting periods. (2) Includes compensation expense specifically identifiable to development and leasing activities. The Company established its Long Term Omnibus Plan (the "Plan") under which the Board of Directors may grant stock options and other stock-based awards to officers, directors, and other key employees. The Plan allows the Company to issue up to 4.1 million shares in the form of the Parent Company's common stock or stock options. As of December 31, 2017 , there were 2.1 million shares available for grant under the Plan either through stock options or restricted stock. Restricted Stock Awards The Company grants restricted stock under the Plan to its employees as a form of long-term compensation and retention. The terms of each restricted stock grant vary depending upon the participant's responsibilities and position within the Company. The Company's stock grants can be categorized as either time-based awards, performance-based awards, or market-based awards. All awards are valued at fair value, earn dividends throughout the vesting period, and have no voting rights. Fair value is measured using the grant date market price for all time-based or performance-based awards. Market based awards are valued using a Monte Carlo simulation to estimate the fair value based on the probability of satisfying the market conditions and the projected stock price at the time of payout, discounted to the valuation date over a three year performance period. Assumptions include historic volatility over the previous three year period, risk-free interest rates, and Regency's historic daily return as compared to the market index. Since the award payout includes dividend equivalents and the total shareholder return includes the value of dividends, no dividend yield assumption is required for the valuation. Compensation expense is measured at the grant date and recognized on a straight-line basis over the requisite vesting period for the entire award. The following table summarizes non-vested restricted stock activity: Year ended December 31, 2017 Number of Shares Intrinsic Value Weighted Average Grant Price Non-vested as of December 31, 2016 561,261 Add: Time-based awards granted (1) (4) 118,339 $69.47 Add: Performance-based awards granted (2) (4) 38,494 $68.95 Add: Market-based awards granted (3) (4) 65,449 $78.54 Less: Vested and Distributed (5) 207,403 $69.32 Less: Forfeited 6,063 $66.91 Non-vested and expected to vest as of December 31, 2017 (6) 570,077 $39,438 (1) Time-based awards vest beginning on the first anniversary following the grant date over a three or four year service period. These grants are subject only to continued employment and are not dependent on future performance measures. Accordingly, if such vesting criteria are not met, compensation cost previously recognized would be reversed. (2) Performance-based awards are earned subject to future performance measurements. Once the performance criteria are achieved and the actual number of shares earned is determined, shares vest over a required service period. The Company considers the likelihood of meeting the performance criteria based upon management's estimates from which it determines the amounts recognized as expense on a periodic basis. (3) Market-based awards are earned dependent upon the Company's total shareholder return in relation to the shareholder return of a NAREIT index over a three-year period. Once the performance criteria are met and the actual number of shares earned is determined, the shares are immediately vested and distributed. The probability of meeting the criteria is considered when calculating the estimated fair value on the date of grant using a Monte Carlo simulation. These awards are accounted for as awards with market criteria, with compensation cost recognized over the service period, regardless of whether the performance criteria are achieved and the awards are ultimately earned. The significant assumptions underlying determination of fair values for market-based awards granted were as follows: Year ended December 31, 2017 2016 2015 Volatility 18.00% 18.50% 17.10% Risk free interest rate 1.48% 0.88% 0.78% (4) The weighted-average grant price for restricted stock granted during the years is summarized below: Year ended December 31, 2017 2016 2015 Weighted-average grant price for restricted stock $ 72.05 $ 79.40 $ 69.80 (5) The total intrinsic value of restricted stock vested during the years is summarized below (in thousands): Year ended December 31, 2017 2016 2015 Intrinsic value of restricted stock vested $ 14,376 $ 15,400 $ 18,600 (6) As of December 31, 2017, there was $14.2 million of unrecognized compensation cost related to non-vested restricted stock granted under the Parent Company's Plan. When recognized, this compensation results in additional paid in capital in the accompanying Consolidated Statements of Equity of the Parent Company and in general partner preferred and common units in the accompanying Consolidated Statements of Capital of the Operating Partnership. This unrecognized compensation cost is expected to be recognized over the next three years. The Company issues new restricted stock from its authorized shares available at the date of grant. |
Saving and Retirement Plans (No
Saving and Retirement Plans (Notes) | 12 Months Ended |
Dec. 31, 2017 | |
Compensation and Retirement Disclosure [Abstract] | |
Compensation and Employee Benefit Plans [Text Block] | Saving and Retirement Plans 401(k) Retirement Plan The Company maintains a 401(k) retirement plan covering substantially all employees, which permits participants to defer up to the maximum allowable amount determined by the IRS of their eligible compensation. This deferred compensation, together with Company matching contributions equal to 100% of employee deferrals up to a maximum of $5,000 of their eligible compensation, is fully vested and funded as of December 31, 2017 . Additionally, an annual profit sharing contribution is made, which vests over a three year period. Costs for Company contributions to the plan totaled $4.1 million , $3.3 million and $3.1 million for the years ended December 31, 2017 , 2016 , and 2015 , respectively. Non-Qualified Deferred Compensation Plan The Company maintains a non-qualified deferred compensation plan (“NQDCP”), which allows select employees and directors to defer part or all of their cash bonus, director fees, and vested restricted stock awards. All contributions into the participants' accounts are fully vested upon contribution to the NQDCP and are deposited in a Rabbi trust. The following table reflects the balances of the assets and deferred compensation liabilities of the Rabbi trust in the accompanying Consolidated Balance Sheets: Non Qualified Deferred Compensation Plan Component (1) Year ended December 31, (in thousands) 2017 2016 Assets: Trading securities held in trust (2) $ 31,662 28,588 Liabilities: Accounts payable and other liabilities $ 31,383 28,214 (1) Assets and liabilities of the Rabbi trust are exclusive of the shares of the Company's common stock. (2) Included within Other assets in the accompanying Consolidated Balance Sheets. Realized and unrealized gains and losses on trading securities are recognized within income from deferred compensation plan in the accompanying Consolidated Statements of Operations. Changes in participant obligations, which is based on changes in the value of their investment elections, is recognized within general and administrative expenses within the accompanying Consolidated Statements of Operations. Investments in shares of the Company's common stock are included, at cost, as treasury stock in the accompanying Consolidated Balance Sheets of the Parent Company and as a reduction of general partner capital in the accompanying Consolidated Balance Sheets of the Operating Partnership. The participant's deferred compensation liability attributable to the participants' investments in shares of the Company's common stock are included, at cost, within additional paid in capital in the accompanying Consolidated Balance Sheets of the Parent Company and as a reduction of general partner capital in the accompanying Consolidated Balance Sheets of the Operating Partnership. Changes in participant account balances related to the Regency common stock fund are recorded directly within stockholders' equity. |
Summary of Significant Accoun28
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Estimates, Risks and Uncertainties | Estimates, Risks, and Uncertainties The preparation of the consolidated financial statements in conformity with U.S. Generally Accepted Accounting Principles (“GAAP”) requires the Company's management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of contingent assets and liabilities, at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The most significant estimates in the Company's financial statements relate to the net carrying values of its real estate investments, accounts receivable, straight line rent receivable, goodwill, and acquired lease intangible assets and acquired lease intangible liabilities. It is possible that the estimates and assumptions that have been utilized in the preparation of the consolidated financial statements could change significantly if economic conditions were to weaken. |
Consolidation | Consolidation The accompanying consolidated financial statements include the accounts of the Parent Company, the Operating Partnership, its wholly-owned subsidiaries, and consolidated partnerships in which the Company has a controlling interest. Investments in real estate partnerships not controlled by the Company are accounted for under the equity method. All significant inter-company balances and transactions are eliminated in the consolidated financial statements. The Company consolidates properties that are wholly owned or properties where it owns less than 100%, but which it controls. Control is determined using an evaluation based on accounting standards related to the consolidation of voting interest entities and variable interest entities ("VIEs"). For joint ventures that are determined to be a VIE, the Company consolidates the entity where it is deemed to be the primary beneficiary. Determination of the primary beneficiary is based on whether an entity has (1) the power to direct the activities of the VIE that most significantly impact the entity's economic performance, and (2) the obligation to absorb losses of the entity that could potentially be significant to the VIE or the right to receive benefits from the entity that could potentially be significant to the VIE. The Company's determination of the primary beneficiary considers all relationships between it and the VIE, including management agreements and other contractual arrangements. Ownership of the Parent Company The Parent Company has a single class of common stock outstanding. At December 31, 2016 , the Company also had two series of preferred stock outstanding (“Series 6 and 7 Preferred Stock”). The dividends on the Series 6 and 7 Preferred Stock were cumulative and payable in arrears quarterly. During 2017 , the Company redeemed in full the Series 6 and 7 Preferred Stock. Ownership of the Operating Partnership The Operating Partnership's capital includes general and limited common Partnership Units. As of December 31, 2017 , the Parent Company owned approximately 99.8% , or 171,364,908 , of the 171,714,810 outstanding common Partnership Units of the Operating Partnership, with the remaining limited Partnership Units held by third parties ("Exchangeable operating partnership units" or "EOP units"). The Parent Company serves as general partner of the Operating Partnership. The EOP unit holders have limited rights over the Operating Partnership such that they do not have the power to direct the activities of the Operating Partnership. As such, the Operating Partnership is considered a VIE, and the Parent Company is the primary beneficiary, which consolidates it. The Parent Company's only investment is the Operating Partnership. Net income and distributions of the Operating Partnership are allocable to the general and limited common Partnership Units in accordance with their ownership percentages. |
Investments in Real Estate Partnerships | Real Estate Partnerships Regency has a partial ownership interest in 126 properties through partnerships, of which 11 are consolidated. These partners include institutional investors, other real estate developers and/or operators, and individual parties who help Regency source transactions for development and investment (the "Partners" or "limited partners"). Regency has a variable interest in these entities through its equity interests. As managing member, Regency maintains the books and records and typically provides leasing and property management to the partnerships. The Partners’ level of involvement varies from protective decisions (debt, bankruptcy, selling primary asset(s) of business) to involvement in approving leases, operating budgets, and capital budgets. • Those partnerships for which the Partners only have protective rights are considered VIEs under ASC 810, Consolidation. Regency is the primary beneficiary of these VIEs as Regency has power over these partnerships and they operate primarily for the benefit of Regency. As such, Regency consolidates these entities and reports the limited partners’ interest as noncontrolling interests. The majority of the operations of the VIEs are funded with cash flows generated by the properties, or in the case of developments, with capital contributions or third party construction loans. Regency does not provide financial support to the VIEs. • Those partnerships for which the Partners are involved in the day to day decisions and do not have any other aspects that would cause them to be considered VIEs, are evaluated for consolidation using the voting interest model. ◦ Those partnerships in which Regency has a controlling financial interest are consolidated and the limited partners’ ownership interest and share of net income is recorded as noncontrolling interest. ◦ Those partnerships in which Regency does not have a controlling financial interest are accounted for using the equity method and its ownership interest is recognized through single-line presentation as Investments in Real Estate Partnerships, in the Consolidated Balance Sheet, and Equity in Income of Investments in Real Estate Partnerships, in the Consolidated Statements of Operations. Cash distributions of earnings from operations from investments in real estate partnerships are presented in cash flows provided by operating activities in the accompanying Consolidated Statements of Cash Flows. Cash distributions from the sale of a property or loan proceeds received from the placement of debt on a property included in investments in real estate partnerships are presented in cash flows provided by investing activities in the accompanying Consolidated Statements of Cash Flows. Distributed proceeds from debt refinancing and real estate sales in excess of Regency's carrying value of its investment has resulted in a negative investment balance for one partnership, which is recorded within Accounts payable and other liabilities in the Consolidated Balance Sheets. ◦ The net difference in the carrying amount of investments in real estate partnerships and the underlying equity in net assets is either accreted to income and recorded in equity in income of investments in real estate partnerships in the accompanying Consolidated Statements of Operations over the expected useful lives of the properties and other intangible assets, which range in lives from 10 to 40 years, or recognized at liquidation if the joint venture agreement includes a unilateral right to elect to dissolve the real estate partnership and, upon such an election, receive a distribution in-kind. The assets of these partnerships are restricted to the use of the partnerships and cannot be used by general creditors of the Company. And similarly, the obligations of these partnerships can only be settled by the assets of these partnerships. The major classes of assets, liabilities, and non-controlling equity interests held by the Company's VIEs, exclusive of the Operating Partnership as a whole, are as follows: (in thousands) December 31, 2017 December 31, 2016 Assets Net real estate investments $172,736 86,440 Cash and cash equivalents 4,993 3,444 Liabilities Notes payable 16,551 8,175 Equity Limited partners’ interests in consolidated partnerships 17,572 17,565 Noncontrolling Interests Noncontrolling Interests of the Parent Company The consolidated financial statements of the Parent Company include the following ownership interests held by owners other than the preferred and common stockholders of the Parent Company: (i) the limited Partnership Units in the Operating Partnership held by third parties and (ii) the minority-owned interest held by third parties in consolidated partnerships (“Limited partners' interests in consolidated partnerships”). The Parent Company has included all of these noncontrolling interests in permanent equity, separate from the Parent Company's stockholders' equity, in the accompanying Consolidated Balance Sheets and Consolidated Statements of Equity and Comprehensive Income (Loss). The portion of net income or comprehensive income attributable to these noncontrolling interests is included in net income and comprehensive income in the accompanying Consolidated Statements of Operations and Consolidated Statements of Comprehensive Income (Loss) of the Parent Company. In accordance with the FASB ASC Topic 480, securities that are redeemable for cash or other assets at the option of the holder, not solely within the control of the issuer, are classified as redeemable noncontrolling interests outside of permanent equity in the Consolidated Balance Sheets. The Parent Company has evaluated the conditions as specified under the FASB ASC Topic 480 as it relates to exchangeable operating partnership units outstanding and concluded that it has the right to satisfy the redemption requirements of the units by delivering unregistered common stock. Each outstanding exchangeable operating partnership unit is exchangeable for one share of common stock of the Parent Company, and the unit holder cannot require redemption in cash or other assets. Limited partners' interests in consolidated partnerships are not redeemable by the holders. The Parent Company also evaluated its fiduciary duties to itself, its shareholders, and, as the managing general partner of the Operating Partnership, to the Operating Partnership, and concluded its fiduciary duties are not in conflict with each other or the underlying agreements. Therefore, the Parent Company classifies such units and interests as permanent equity in the accompanying Consolidated Balance Sheets and Consolidated Statements of Equity. Noncontrolling Interests of the Operating Partnership The Operating Partnership has determined that limited partners' interests in consolidated partnerships are noncontrolling interests. Subject to certain conditions and pursuant to the terms of the agreement, the Company generally has the right, but not the obligation, to purchase the other member’s interest or sell its own interest in these consolidated partnerships. The Operating Partnership has included these noncontrolling interests in permanent capital, separate from partners' capital, in the accompanying Consolidated Balance Sheets and Consolidated Statements of Capital. The portion of net income (loss) or comprehensive income (loss) attributable to these noncontrolling interests is included in net income and comprehensive income in the accompanying Consolidated Statements of Operations and Consolidated Statements Comprehensive Income (Loss) of the Operating Partnership. |
Revenues | Revenues and Tenant Receivable Leasing Revenue and Receivables The Company leases space to tenants under agreements with varying terms. Leases are accounted for as operating leases with minimum rent recognized on a straight-line basis over the term of the lease regardless of when payments are due. When the Company is the owner of the leasehold improvements, recognition of straight line lease revenue commences when the lessee is given possession of the leased space upon completion of tenant improvements. However, when the leasehold improvements are owned by the tenant, the lease inception date is the date the tenant obtains possession of the leased space for purposes of constructing its leasehold improvements. More than half of all of the lease agreements with anchor tenants contain provisions that provide for additional rents based on tenants' sales volume ("percentage rent"). Percentage rents are recognized when the tenants achieve the specified targets as defined in their lease agreements. Most all lease agreements contain provisions for reimbursement of the tenants' share of real estate taxes, insurance and common area maintenance (“CAM”) costs. Recovery of real estate taxes, insurance, and CAM costs are recognized as the respective costs are incurred in accordance with the lease agreements. The following table represents the components of Tenant and other receivables, net in the accompanying Consolidated Balance Sheets: December 31, (in thousands) 2017 2016 Billed tenant receivables $ 25,329 15,599 Accrued CAM, insurance and tax reimbursements 14,825 9,221 Other receivables 34,472 12,058 Straight-line rent receivables 93,284 73,384 Notes receivable 15,803 10,481 Less: allowance for doubtful accounts (8,040 ) (5,460 ) Less: straight-line rent reserves (4,688 ) (3,561 ) Total tenant and other receivables, net $ 170,985 111,722 The Company estimates the collectibility of the accounts receivable related to base rents, straight-line rents, expense reimbursements, and other revenue taking into consideration the Company's historical write-off experience, tenant credit-worthiness, current economic trends, and remaining lease terms . The Company recorded the following provisions for doubtful accounts: Year ended December 31, (in thousands) 2017 2016 2015 Gross provision for doubtful accounts $ 3,992 1,705 2,364 Provision for straight line rent reserve $ 1,129 2,271 714 Real Estate Sales Profits from sales of real estate are recognized under the full accrual method by the Company when: (i) a sale is consummated; (ii) the buyer's initial and continuing investment is adequate to demonstrate a commitment to pay for the property; (iii) the Company's receivable, if applicable, is not subject to future subordination; (iv) the Company has transferred to the buyer the usual risks and rewards of ownership; and (v) the Company does not have substantial continuing involvement with the property. Management Services The Company is engaged under agreements with its joint venture partners to provide asset management, property management, leasing, investing, and financing services for such joint ventures' shopping centers. The fees are market-based, generally calculated as a percentage of either revenues earned or the estimated values of the properties managed or the proceeds received, and are recognized as services are rendered, when fees due are determinable, and collectibility is reasonably assured. The Company also receives transaction fees, as contractually agreed upon with each joint venture, which include fees such as acquisition fees, disposition fees, “promotes”, or “earnouts”, and are recognized as services are rendered, when fees due are determinable, and collectibility is reasonably assured. |
Real Estate Investments | Real Estate Investments Capitalization and Depreciation Maintenance and repairs that do not improve or extend the useful lives of the respective assets are recorded in operating and maintenance expense. As part of the leasing process, the Company may provide the lessee with an allowance for the construction of leasehold improvements. These leasehold improvements are capitalized and recorded as tenant improvements, and depreciated over the shorter of the useful life of the improvements or the remaining lease term. If the allowance represents a payment for a purpose other than funding leasehold improvements, or in the event the Company is not considered the owner of the improvements, the allowance is considered to be a lease incentive and is recognized over the lease term as a reduction of minimum rent. Factors considered during this evaluation include, among other things, who holds legal title to the improvements as well as other controlling rights provided by the lease agreement and provisions for substantiation of such costs (e.g. unilateral control of the tenant space during the build-out process). Determination of the appropriate accounting for the payment of a tenant allowance is made on a lease-by-lease basis, considering the facts and circumstances of the individual tenant lease. Depreciation is computed using the straight-line method over estimated useful lives of approximately 40 years for buildings and improvements, the shorter of the useful life or the remaining lease term subject to a maximum of 10 years for tenant improvements, and three to seven years for furniture and equipment. Development Costs Land, buildings, and improvements are recorded at cost. All specifically identifiable costs related to development activities are capitalized into properties in development on the accompanying Consolidated Balance Sheets. The capitalized costs include pre-development costs essential to the development of the property, development costs, construction costs, interest costs, real estate taxes, and allocated direct employee costs incurred during the period of development. Interest costs are capitalized into each development project based upon applying the Company's weighted average borrowing rate to that portion of the actual development costs expended. The Company discontinues interest and real estate tax capitalization when the property is no longer being developed or is available for occupancy upon substantial completion of tenant improvements, but in no event would the Company capitalize interest on the project beyond 12 months after substantial completion of the building shell. Pre-development costs represent the costs the Company incurs prior to land acquisition including contract deposits, as well as legal, engineering, and other external professional fees related to evaluating the feasibility of developing a shopping center. As of December 31, 2017 and 2016 , the Company had refundable deposits of approximately $3.5 million and $1.2 million , respectively, included in pre-development costs. If the Company determines that the development of a particular shopping center is no longer probable, any related pre-development costs previously capitalized are immediately expensed. During the years ended December 31, 2017 , 2016 , and 2015 , the Company expensed pre-development costs of approximately $1.5 million , $1.5 million , and $1.7 million , respectively, in other operating expenses in the accompanying Consolidated Statements of Operations. Acquisitions Through June 30, 2017, the Company and its real estate partnerships accounted for operating property acquisitions as business combinations using the acquisition method. Effective July 1, 2017, upon the adoption of ASU 2017-01: Definition of a Business accounting standard, operating property acquisitions are generally considered asset acquisitions. The Company expenses transaction costs associated with business combinations in the period incurred and capitalizes transaction costs associated with asset acquisitions. Both business combinations and asset acquisitions require that the Company recognize and measure the identifiable assets acquired, the liabilities assumed, and any noncontrolling interest in the operating property acquired ("acquiree"). The Company's methodology includes estimating an “as-if vacant” fair value of the physical property, which includes land, building, and improvements. In addition, the Company determines the estimated fair value of identifiable intangible assets and liabilities, considering the following categories: (i) value of in-place leases, and (ii) above and below-market value of in-place leases. The value of in-place leases is estimated based on the value associated with the costs avoided in originating leases compared to the acquired in-place leases as well as the value associated with lost rental and recovery revenue during the assumed lease-up period. The value of in-place leases is recorded to amortization expense over the remaining expected term of the respective leases. Above-market and below-market in-place lease values for acquired properties are recorded based on the present value of the difference between (i) the contractual amounts to be paid pursuant to the in-place leases and (ii) management's estimate of fair market lease rates for comparable in-place leases, measured over a period equal to the remaining non-cancelable term of the lease, including below-market renewal options, if applicable. The value of above-market leases is amortized as a reduction of minimum rent over the remaining terms of the respective leases and the value of below-market leases is accreted to minimum rent over the remaining terms of the respective leases, including below-market renewal options, if applicable. The Company does not assign value to customer relationship intangibles if it has pre-existing business relationships with the major retailers at the acquired property since they do not provide incremental value over the Company's existing relationships. Held for Sale The Company classifies land, an operating property, or a property in development as held-for-sale upon satisfaction of the following criteria: (i) management commits to a plan to sell a property (or group of properties), (ii) the property is available for immediate sale in its present condition subject only to terms that are usual and customary for sales of such properties, (iii) an active program to locate a buyer and other actions required to complete the plan to sell the property have been initiated, (iv) the sale of the property is probable and transfer of the asset is expected to be completed within one year, (v) the property is being actively marketed for sale, and (vi) actions required to complete the plan indicate that it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn. Operating properties held-for-sale are carried at the lower of cost or fair value less costs to sell. Impairment We evaluate whether there are any indicators, including property operating performance and general market conditions, that the value of the real estate properties (including any related amortizable intangible assets or liabilities) may not be recoverable. Through the evaluation, we compare the current carrying value of the asset to the estimated undiscounted cash flows that are directly associated with the use and ultimate disposition of the asset. Our estimated cash flows are based on several key assumptions, including rental rates, costs of tenant improvements, leasing commissions, anticipated hold period, and assumptions regarding the residual value upon disposition, including the exit capitalization rate. These key assumptions are subjective in nature and could differ materially from actual results. Changes in our disposition strategy or changes in the marketplace may alter the hold period of an asset or asset group which may result in an impairment loss and such loss could be material to the Company's financial condition or operating performance. To the extent that the carrying value of the asset exceeds the estimated undiscounted cash flows, an impairment loss is recognized equal to the excess of carrying value over fair value. If such indicators are not identified, management will not assess the recoverability of a property's carrying value. If a property previously classified as held and used is changed to held-for-sale, the Company estimates fair value, less expected costs to sell, which could cause the Company to determine that the property is impaired. The fair value of real estate assets is subjective and is determined through comparable sales information and other market data if available, or through use of an income approach such as the direct capitalization method or the traditional discounted cash flow approach. Such cash flow projections consider factors such as expected future operating income, trends and prospects, as well as the effects of demand, competition and other factors, and therefore is subject to management judgment and changes in those factors could impact the determination of fair value. In estimating the fair value of undeveloped land, the Company generally uses market data and comparable sales information. A loss in value of investments in real estate partnerships under the equity method of accounting, other than a temporary decline, must be recognized in the period in which the loss occurs. If management identifies indicators that the value of the Company's investment in real estate partnerships may be impaired, it evaluates the investment by calculating the fair value of the investment by discounting estimated future cash flows over the expected term of the investment. Tax Basis The net book basis of the Company's real estate assets exceeds the net tax basis by approximately $2.8 billion at December 31, 2017 , primarily due to the tax free merger with Equity One and inheriting lower carryover tax basis. The net tax basis of the Company's real estate assets exceeded the book basis by approximately $190.3 million at December 31, 2016 , primarily due to the property impairments recorded for book purposes and the cost basis of the assets acquired and their carryover basis recorded for tax purposes. |
Cash and Cash Equivalents | Cash and Cash Equivalents Any instruments which have an original maturity of 90 days or less when purchased are considered cash equivalents. As of December 31, 2017 and 2016 , $4.0 million and $4.6 million , respectively, of cash was restricted through escrow agreements and certain mortgage loans. |
Other Assets Disclosure [Text Block] | (e) Other Assets The following table represents the components of Other assets in the accompanying Consolidated Balance Sheets: December 31, (in thousands) 2017 2016 Goodwill (1) $ 331,884 — Investments 41,636 36,008 Prepaid and other 30,332 10,386 Derivative assets 14,515 11,622 Furniture, fixtures, and equipment, net 6,123 4,094 Deferred financing costs, net 2,637 3,557 Total other assets $ 427,127 65,667 (1) Goodwill amount is subject to provisional accounting for the purchase price allocation from the Equity One merger, as discussed in note 2. Goodwill Goodwill represents the excess of the purchase price consideration for the Equity One merger over the fair value of the assets acquired and liabilities assumed, and reflects expected synergies from combining Regency's and Equity One's operations. The Company accounts for goodwill in accordance with the Intangibles - Goodwill and Other Topic of the FASB ASC 350, and allocates its goodwill to the reporting units, which have been determined to be at the individual property level. The Company performs an impairment evaluation of its goodwill at least annually, in November of each year. The Company's current goodwill impairment analysis, using a qualitative approach, did not result in any indication of impairment. The goodwill impairment evaluation may be completed through a qualitative or quantitative approach. Under a qualitative approach, the impairment review for goodwill consists of an assessment of whether it is more-likely-than-not that the property’s fair value is less than its carrying value. If a qualitative approach indicates it is more likely-than-not that the estimated carrying value of a property exceeds its fair value, or if the Company chooses to bypass the qualitative approach for any property, the Company will perform the quantitative approach described below. The quantitative approach consists of estimating the fair value of each property using discounted projected future cash flows and comparing those estimated fair values with the carrying values, which include the allocated goodwill. If the estimated fair value is less than the carrying value, the Company would then recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit's fair value, not to exceed the total amount of goodwill allocated to that reporting unit. Investments The Company determines the appropriate classification of its investments in debt and equity securities at the time of purchase and reevaluates such determinations at each balance sheet date. Debt securities are classified as held to maturity when the Company has the positive intent and ability to hold the securities to maturity. Marketable securities that are bought and held principally for the purpose of selling them in the near term are classified as trading securities and are reported at fair value, with unrealized gains and losses recognized in earnings. Debt and marketable equity securities not classified as held to maturity or as trading, are classified as available-for-sale, and are carried at fair value, with the unrealized gains and losses, net of tax, included in the determination of comprehensive income and reported in the Consolidated Statements of Comprehensive Income. The fair value of securities is determined using quoted market prices. |
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block] | Goodwill Goodwill represents the excess of the purchase price consideration for the Equity One merger over the fair value of the assets acquired and liabilities assumed, and reflects expected synergies from combining Regency's and Equity One's operations. The Company accounts for goodwill in accordance with the Intangibles - Goodwill and Other Topic of the FASB ASC 350, and allocates its goodwill to the reporting units, which have been determined to be at the individual property level. The Company performs an impairment evaluation of its goodwill at least annually, in November of each year. The Company's current goodwill impairment analysis, using a qualitative approach, did not result in any indication of impairment. The goodwill impairment evaluation may be completed through a qualitative or quantitative approach. Under a qualitative approach, the impairment review for goodwill consists of an assessment of whether it is more-likely-than-not that the property’s fair value is less than its carrying value. If a qualitative approach indicates it is more likely-than-not that the estimated carrying value of a property exceeds its fair value, or if the Company chooses to bypass the qualitative approach for any property, the Company will perform the quantitative approach described below. The quantitative approach consists of estimating the fair value of each property using discounted projected future cash flows and comparing those estimated fair values with the carrying values, which include the allocated goodwill. If the estimated fair value is less than the carrying value, the Company would then recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit's fair value, not to exceed the total amount of goodwill allocated to that reporting unit. |
Marketable Securities, Trading Securities, Policy [Policy Text Block] | Investments The Company determines the appropriate classification of its investments in debt and equity securities at the time of purchase and reevaluates such determinations at each balance sheet date. Debt securities are classified as held to maturity when the Company has the positive intent and ability to hold the securities to maturity. Marketable securities that are bought and held principally for the purpose of selling them in the near term are classified as trading securities and are reported at fair value, with unrealized gains and losses recognized in earnings. Debt and marketable equity securities not classified as held to maturity or as trading, are classified as available-for-sale, and are carried at fair value, with the unrealized gains and losses, net of tax, included in the determination of comprehensive income and reported in the Consolidated Statements of Comprehensive Income. The fair value of securities is determined using quoted market prices. |
Deferred Costs | Deferred Leasing Costs Deferred leasing costs consist of internal and external commissions associated with leasing the Company's shopping centers, and are presented net of accumulated amortization. Such costs are amortized over the period through lease expiration. If the lease is terminated early, the remaining leasing costs are written off. |
Derivative Financial Instruments | Derivative Financial Instruments The Company manages economic risks, including interest rate, liquidity, and credit risk primarily by managing the amount, sources, and duration of its debt funding and the use of derivative financial instruments. Specifically, the Company enters into derivative financial instruments to manage exposures that arise from business activities that result in the receipt or future payment of known and uncertain cash amounts, the amount of which are determined by interest rates. The Company's derivative financial instruments are used to manage differences in the amount, timing, and duration of the Company's known or expected cash payments principally related to the Company's borrowings. All derivative instruments, whether designated in hedging relationships or not, are recorded on the accompanying Consolidated Balance Sheets at their fair value. The accounting for changes in the fair value of derivatives depends on the intended use of the derivative, whether the Company has elected to designate a derivative in a hedging relationship and apply hedge accounting, and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting. Derivatives designated and qualifying as a hedge of the exposure to changes in the fair value of an asset, liability, or firm commitment attributable to a particular risk, such as interest rate risk, are considered fair value hedges. Derivatives designated and qualifying as a hedge of the exposure to variability in expected future cash flows, or other types of forecasted transactions, are considered cash flow hedges. Hedge accounting generally provides for the matching of the timing of gain or loss recognition on the hedging instrument with the recognition of the changes in the fair value of the hedged asset or liability attributable to the hedged risk in a fair value hedge or the earnings effect of the hedged forecasted transactions in a cash flow hedge. The Company may enter into derivative contracts that are intended to economically hedge certain risks, even though hedge accounting does not apply or the Company elects not to apply hedge accounting. The Company uses interest rate swaps to mitigate its interest rate risk on a related financial instrument or forecasted transaction, and the Company designates these interest rate swaps as cash flow hedges. Interest rate swaps designated as cash flow hedges involve the receipt of variable-rate amounts from a counterparty in exchange for the Company making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. The gains or losses resulting from changes in fair value of derivatives that qualify as cash flow hedges are recognized in other comprehensive income (“OCI”) while the ineffective portion of the derivative's change in fair value is recognized in the Statements of Operations as interest expense. Upon the settlement of a hedge, gains and losses remaining in OCI are amortized through earnings over the underlying term of the hedged transaction. The Company formally documents all relationships between hedging instruments and hedged items, as well as its risk management objectives and strategies for undertaking various hedge transactions. The Company assesses, both at inception of the hedge and on an ongoing basis, whether the derivatives that are used in hedging transactions are highly effective in offsetting changes in the cash flows and/or forecasted cash flows of the hedged items. In assessing the valuation of the hedges, the Company uses standard market conventions and techniques such as discounted cash flow analysis, option pricing models, and termination costs at each balance sheet date. All methods of assessing fair value result in a general approximation of value, and such value may never actually be realized. The cash receipts or payments to settle interest rate swaps are presented in cash flows provided by operating activities in the accompanying Consolidated Statements of Cash Flows. |
Income Taxes | Income Taxes The Parent Company believes it qualifies, and intends to continue to qualify, as a REIT under the Code. As a REIT, the Parent Company will generally not be subject to federal income tax, provided that distributions to its stockholders are at least equal to REIT taxable income. Each wholly-owned corporate subsidiary of the Operating Partnership has elected to be a Taxable REIT Subsidiary (“TRS”) as defined in Section 856(l) of the Code. The TRS's are subject to federal and state income taxes and file separate tax returns. As a pass through entity, the Operating Partnership generally does not pay taxes, but its taxable income or loss is reported by its partners, of which the Parent Company, as general partner and approximately 99.8% owner, is allocated its pro-rata share of tax attributes. The Company accounts for income taxes related to its TRS’s under the asset and liability approach, which requires the recognition of the amount of taxes payable or refundable for the current year and deferred tax assets and liabilities for the expected future tax consequences of events that have been recognized in the financial statements. Under this method, deferred tax assets and liabilities are determined based on the differences between the financial statement and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The Company records net deferred tax assets to the extent it believes it is more likely than not that these assets will be realized. A valuation allowance is recorded to reduce deferred tax assets when it is believed that it is more likely than not that all or some portion of the deferred tax asset will not be realized. The Company considers all available positive and negative evidence, including forecasts of future taxable income, the reversal of other existing temporary differences, available net operating loss carryforwards, tax planning strategies and recent results of operations in order to make that determination. In addition, tax positions are initially recognized in the financial statements when it is more likely than not the position will be sustained upon examination by the tax authorities. Such tax positions shall initially and subsequently be measured as the largest amount of tax benefit that has a greater than 50% likelihood of being realized upon ultimate settlement with the tax authority assuming full knowledge of the position and relevant facts. The Company believes that it has appropriate support for the income tax positions taken and to be taken on its tax returns and that its accruals for tax liabilities are adequate for all open tax years ( 2014 and forward for federal and state) based on an assessment of many factors including past experience and interpretations of tax laws applied to the facts of each matter. The Tax Cuts and Jobs Act (the “Act”), signed into law in December 2017, includes numerous provisions that will affect businesses. Key provisions in the Act have significant financial statement effects. These effects include remeasurement of deferred taxes, recognition of liabilities for taxes on mandatory deemed repatriation and certain other foreign income, and reassessment of the realizability of deferred tax assets. Because the asset and liability approach under ASC 740 requires companies to recognize the effect of tax law changes in the period of enactment, the effects must be recognized in companies’ December 2017 financial statements, even though the effective date of the law for most provisions is January 1, 2018. To the extent that all information necessary is not available, prepared or analyzed, companies are allotted a measurement period to make adjustments for the effect of the law. The Company has calculated the tax impact of the change in tax law, most notably, the deferred tax assets and liabilities have been revalued at the appropriate tax rate. The impact resulted in a $9.7 million benefit recognized in earnings for 2017. |
Earnings per Share and Unit | Earnings per Share and Unit Basic earnings per share of common stock and unit are computed based upon the weighted average number of common shares and units, respectively, outstanding during the period. Diluted earnings per share and unit reflect the conversion of obligations and the assumed exercises of securities including the effects of shares issuable under the Company's share-based payment arrangements, if dilutive. Dividends paid on the Company's share-based compensation awards are not participating securities as they are forfeitable. |
Stock-Based Compensation | Stock-Based Compensation The Company grants stock-based compensation to its employees and directors. The Company recognizes stock-based compensation based on the grant-date fair value of the award and the cost of the stock-based compensation is expensed over the vesting period. When the Parent Company issues common shares as compensation, it receives a like number of common units from the Operating Partnership. The Company is committed to contributing to the Operating Partnership all proceeds from the exercise of stock options or other share-based awards granted under the Parent Company's Long-Term Omnibus Plan (the “Plan”). Accordingly, the Parent Company's ownership in the Operating Partnership will increase based on the amount of proceeds contributed to the Operating Partnership for the common units it receives. As a result of the issuance of common units to the Parent Company for stock-based compensation, the Operating Partnership records the effect of stock-based compensation for awards of equity in the Parent Company. |
Segment Reporting | Segment Reporting The Company's business is investing in retail shopping centers through direct ownership or partnership interests. The Company actively manages its portfolio of retail shopping centers and may from time to time make decisions to sell lower performing properties or developments not meeting its long-term investment objectives. The proceeds from sales are generally reinvested into higher quality retail shopping centers, through acquisitions or new developments, which management believes will generate sustainable revenue growth and attractive returns. It is management's intent that all retail shopping centers will be owned or developed for investment purposes; however, the Company may decide to sell all or a portion of a development upon completion. The Company's revenues and net income are generated from the operation of its investment portfolio. The Company also earns fees for services provided to manage and lease retail shopping centers owned through joint ventures. The Company's portfolio is located throughout the United States. Management does not distinguish or group its operations on a geographical basis for purposes of allocating resources or capital. The Company reviews operating and financial data for each property on an individual basis; therefore, the Company defines an operating segment as its individual properties. The individual properties have been aggregated into one reportable segment based upon their similarities with regard to both the nature and economics of the centers, tenants and operational processes, as well as long-term average financial performance. |
Assets and Liabilities Measured at Fair Value | Fair Value of Assets and Liabilities Fair value is a market-based measurement, not an entity-specific measurement. Therefore, a fair value measurement is determined based on the assumptions that market participants would use in pricing the asset or liability. As a basis for considering market participant assumptions in fair value measurements, the Company uses a fair value hierarchy that distinguishes between market participant assumptions based on market data obtained from independent sources (observable inputs that are classified within Levels 1 and 2 of the hierarchy) and the Company's own assumptions about market participant assumptions (unobservable inputs classified within Level 3 of the hierarchy). The three levels of inputs used to measure fair value are as follows: • Level 1 - Quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access. • Level 2 - Inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. • Level 3 - Unobservable inputs for the asset or liability, which are typically based on the Company's own assumptions, as there is little, if any, related market activity. The Company also remeasures nonfinancial assets and nonfinancial liabilities, initially measured at fair value in a business combination or other new basis event, at fair value in subsequent periods if a remeasurement event occurs. |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | (l) Business Concentration Grocer anchor tenants represent approximately 18% of pro-rata annual base rent. No single tenant accounts for 5% or more of revenue and none of the shopping centers are located outside the United States. |
Summary of Significant Accoun29
Summary of Significant Accounting Policies Recent Accounting Pronouncements (Policies) | 12 Months Ended |
Dec. 31, 2017 | |
Accounting Policies [Abstract] | |
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | (n) Recent Accounting Pronouncements The following table provides a brief description of recent accounting pronouncements and expected impact on our financial statements: Standard Description Date of adoption Effect on the financial statements or other significant matters Recently adopted: ASU 2016-09, March 2016, Compensation-Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting This ASU affects entities that issue share-based payment awards to their employees. The ASU is designed to simplify several aspects of accounting for share-based payment award transactions including income tax consequences, classification of awards as either equity or liabilities, an option to recognize stock compensation forfeitures as they occur, and changes to classification on the statement of cash flows. January 2017 The adoption of this standard resulted in the reclassification of income taxes withheld on share-based awards out of operating activities into financing activities on the Statement of Cash Flows. As retrospective application was required for this component of the ASU, $8.0 million was reclassified on the Statements of Cash Flows for the year ended December 31, 2016. ASU 2017-01 This ASU amends and provides a screen to determine when an integrated set of assets and activities, collectively referred to as a "set", is not a business. The screen requires that when substantially all of the fair value of the gross assets acquired (or disposed of) is concentrated in a single identifiable asset or a group of similar identifiable assets, the set is not a business. July 2017 This standard changed the treatment of individual operating properties from being considered a business to being considered an asset. ASU 2017-04, January 2017, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment This ASU simplifies how an entity tests goodwill for impairment by eliminating Step 2 from the goodwill impairment test. Step 2 measures a goodwill impairment loss by comparing the implied fair value of a reporting unit's goodwill with the carrying amount of that goodwill. Instead, under this update, the Company will perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. The Company would then recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit's fair value, not to exceed the total amount of goodwill allocated to that reporting unit. October 2017 The Company early adopted this ASU on October 1, 2017. The adoption of this ASU did not have an impact on the Company's financial statements and related disclosures, but rather simplified the method of evaluating goodwill for impairment. Standard Description Date of adoption Effect on the financial statements or other significant matters Not yet adopted: ASU 2017-12, August 2017, Targeted Improvements to Accounting for Hedging Activities This ASU provides updated guidance to better align a company’s financial reporting for hedging activities with the economic objectives of those activities. The transition guidance provides companies with the option of early adopting the new standard using a modified retrospective transition method in any interim period after issuance of the update, or alternatively requires adoption for fiscal years beginning after December 15, 2018. This adoption method will require the Company to recognize the cumulative effect of initially applying the ASU as an adjustment to accumulated other comprehensive income with a corresponding adjustment to the opening balance of retained earnings as of the beginning of the fiscal year that an entity adopts the update. January 2018 The Company plans to early adopt this ASU on January 1, 2018. The Company has assessed the impacts of the standard and has determined that the adoption and implementation of this standard will not have a material impact on the consolidated financial statements. ASU 2016-01, January 2016, Financial Instruments—Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities This ASU amends the guidance to classify equity securities with readily-determinable fair values into different categories and requires equity securities to be measured at fair value with changes in the fair value recognized through net income. Equity investments accounted for under the equity method are not included in the scope of this amendment. Early adoption of this amendment is not permitted. January 2018 The Company has assessed the impacts of the standard and determined that the adoption and implementation of this standard will not have a material impact on its results of operations, financial condition or cash flows. ASU 2016-15, August 2016, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments This ASU makes eight targeted changes to how cash receipts and cash payments are presented and classified in the statement of cash flows to eliminate current diversity in practice. Early adoption is permitted on a retrospective basis. January 2018 The ASU is consistent with the Company's current treatment and the Company has determined that the adoption and implementation of this standard will not have an impact on its cash flow statement. ASU 2016-18, November 2016, Statement of Cash Flows (Topic 230): Restricted Cash This ASU requires entities to show the changes in the total of cash, cash equivalents, restricted cash, and restricted cash equivalents in the statement of cash flows. The amendments in this ASU should be applied using a retrospective transition method to each period presented. January 2018 The Company has assessed the impacts of the standard and determined that the adoption will result in a change to the classification and presentation of changes in restricted cash on its cash flow statement, which is not expected to be material. There will be no change to the Company's financial condition or results of operations from the adoption of this standard. Standard Description Date of adoption Effect on the financial statements or other significant matters Revenue from Contracts with Customers (Topic 606) and related updates: ASU 2014-09, May 2014, Revenue from Contracts with Customers (Topic 606) ASU 2016-08, March 2016, Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations ASU 2016-10, April 2016, Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing ASU 2016-12, May 2016, Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients ASU 2016-19, December 2016, Technical Corrections and Improvements ASU 2016-20, December 2016, Technical Corrections and Improvements to Topic 606 Revenue from Contracts With Customers ASU 2017-05, February 2017, Clarifying the Scope of Asset Derecognition Guidance and Accounting for Partial Sales of Nonfinancial Assets (Subtopic 610-20) In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers ("Topic 606"). The objective of Topic 606 is to establish a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers. It will supersede most of the existing revenue guidance, including industry-specific guidance. The core principal of this new standard is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In applying Topic 606, companies will perform a five-step analysis of transactions to determine when and how revenue is recognized. Topic 606 applies to all contracts with customers except those that are within the scope of other topics in the FASB's accounting standards codification. As a result, Topic 606 does not apply to revenue from lease contracts until the adoption of the new leases standard, Topic 842, in January 2019. ASU 2017-05 clarifies that ASC 610-20 applies to all nonfinancial assets (including real estate) for which the counterparty is not a customer and requires an entity to derecognize a nonfinancial asset in a partial sale transaction when it ceases to have a controlling financial interest in the asset and has transferred control of the asset. Once an entity transfers control of the nonfinancial asset, the entity is required to measure any noncontrolling interest it receives or retains at fair value. Under the current guidance, a partial sale is recognized and carryover basis is used for the retained interest resulting in only partial gain recognition by the entity, however, the new guidance eliminates the use of carryover basis and generally requires the full gain be recognized. The standard allows for either "full retrospective" adoption, meaning the standard is applied to all of the periods presented, or "modified retrospective" adoption, meaning the standard is applied only to the most recent period presented in the financial statements. Additional disclosures are also required in order to enable users of financial statements to understand the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers, including disaggregated disclosures of revenue recognized, contract balances, and performance obligations. January 2018 The majority of the Company's revenue originates from lease contracts and will be subject to Topic 842 to be adopted in January 2019. Upon the adoption of the new leases standard, certain recoveries from tenants may become subject to the revenue standard, which may have a different recognition pattern or presentation than under current GAAP. Beyond revenue from lease contracts, the Company's other main revenue streams, include: - Management, transaction and other fees from the Company's real estate partnerships, primarily in the form of property management fees, asset management fees, and leasing commission fees. The Company evaluated all partnership fee relationships and does not currently expect any changes in the timing of revenue recognition from these revenue streams. - Sales of real estate assets will be accounted for under Subtopic 610-20, which provides for revenue recognition based on transfer of control. For property sales where Regency has no continuing involvement, there should be no change to the Company's timing of recognition. For property sales in which Regency has continuing involvement, full gain recognition may be required, where gains may have been deferred under existing GAAP. Upon adoption of ASU 2017-05, the Company's $30.9 million of previously deferred gains from transactions with equity method investees will be recognized through opening retained earnings. The Company intends to follow the modified retrospective method of adoption, applying the standard to only 2018, and not restating prior periods presented in future financial statements. Standard Description Date of adoption Effect on the financial statements or other significant matters ASU 2016-02, February 2016, Leases (Topic 842) This ASU amends the existing accounting standards for lease accounting, including requiring lessees to recognize most leases on their balance sheets. It also makes targeted changes to lessor accounting, including a change to the treatment of internal leasing costs and legal costs, which can no longer be capitalized. Early adoption of this standard is permitted to coincide with adoption of ASU 2014-09. The standard requires a modified retrospective transition approach for all leases existing at, or entered into after, the date of initial application, with an option to use certain transition relief. January 2019 The Company is evaluating the impact this standard will have on its financial statements and related disclosures. Upon adoption, the Company will recognize right of use assets and corresponding lease obligations for its office and ground lease obligations. Capitalization of internal leasing costs and legal costs will no longer be permitted upon the adoption of this standard, which will result in an increase in Total operating expenses in the Consolidated Statements of Operations in the period of adoption and prospectively. Historic capitalization of internal leasing costs was $10.4 million and $10.5 million during the years ended December 31, 2017 and 2016, respectively. Historic capitalization of legal costs was $1.2 million and $0.7 million during the years ended December 31, 2017 and 2016, respectively, including our pro rata share recognized through Equity in income of investments in real estate partnerships. ASU 2016-13, June 2016 , Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments This ASU replaces the incurred loss impairment methodology in current GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. This ASU also applies to how the Company determines its allowance for doubtful accounts on tenant receivables. January 2020 The Company is evaluating the alternative methods of adoption and the impact it will have on its financial statements and related disclosures. |
Summary of Significant Accoun30
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Schedule of Variable Interest Entities [Table Text Block] | The major classes of assets, liabilities, and non-controlling equity interests held by the Company's VIEs, exclusive of the Operating Partnership as a whole, are as follows: (in thousands) December 31, 2017 December 31, 2016 Assets Net real estate investments $172,736 86,440 Cash and cash equivalents 4,993 3,444 Liabilities Notes payable 16,551 8,175 Equity Limited partners’ interests in consolidated partnerships 17,572 17,565 |
Receivables, Trade and Other Accounts Receivable, Allowance for Doubtful Accounts, Policy [Policy Text Block] | The following table represents the components of Tenant and other receivables, net in the accompanying Consolidated Balance Sheets: December 31, (in thousands) 2017 2016 Billed tenant receivables $ 25,329 15,599 Accrued CAM, insurance and tax reimbursements 14,825 9,221 Other receivables 34,472 12,058 Straight-line rent receivables 93,284 73,384 Notes receivable 15,803 10,481 Less: allowance for doubtful accounts (8,040 ) (5,460 ) Less: straight-line rent reserves (4,688 ) (3,561 ) Total tenant and other receivables, net $ 170,985 111,722 |
Provisions for Doubtful Accounts [Table Text Block] | The Company recorded the following provisions for doubtful accounts: Year ended December 31, (in thousands) 2017 2016 2015 Gross provision for doubtful accounts $ 3,992 1,705 2,364 Provision for straight line rent reserve $ 1,129 2,271 714 |
Schedule of Other Current Assets [Table Text Block] | (e) Other Assets The following table represents the components of Other assets in the accompanying Consolidated Balance Sheets: December 31, (in thousands) 2017 2016 Goodwill (1) $ 331,884 — Investments 41,636 36,008 Prepaid and other 30,332 10,386 Derivative assets 14,515 11,622 Furniture, fixtures, and equipment, net 6,123 4,094 Deferred financing costs, net 2,637 3,557 Total other assets $ 427,127 65,667 (1) Goodwill amount is subject to provisional accounting for the purchase price allocation from the Equity One merger, as discussed in note 2. Goodwill Goodwill represents the excess of the purchase price consideration for the Equity One merger over the fair value of the assets acquired and liabilities assumed, and reflects expected synergies from combining Regency's and Equity One's operations. The Company accounts for goodwill in accordance with the Intangibles - Goodwill and Other Topic of the FASB ASC 350, and allocates its goodwill to the reporting units, which have been determined to be at the individual property level. The Company performs an impairment evaluation of its goodwill at least annually, in November of each year. The Company's current goodwill impairment analysis, using a qualitative approach, did not result in any indication of impairment. The goodwill impairment evaluation may be completed through a qualitative or quantitative approach. Under a qualitative approach, the impairment review for goodwill consists of an assessment of whether it is more-likely-than-not that the property’s fair value is less than its carrying value. If a qualitative approach indicates it is more likely-than-not that the estimated carrying value of a property exceeds its fair value, or if the Company chooses to bypass the qualitative approach for any property, the Company will perform the quantitative approach described below. The quantitative approach consists of estimating the fair value of each property using discounted projected future cash flows and comparing those estimated fair values with the carrying values, which include the allocated goodwill. If the estimated fair value is less than the carrying value, the Company would then recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit's fair value, not to exceed the total amount of goodwill allocated to that reporting unit. Investments The Company determines the appropriate classification of its investments in debt and equity securities at the time of purchase and reevaluates such determinations at each balance sheet date. Debt securities are classified as held to maturity when the Company has the positive intent and ability to hold the securities to maturity. Marketable securities that are bought and held principally for the purpose of selling them in the near term are classified as trading securities and are reported at fair value, with unrealized gains and losses recognized in earnings. Debt and marketable equity securities not classified as held to maturity or as trading, are classified as available-for-sale, and are carried at fair value, with the unrealized gains and losses, net of tax, included in the determination of comprehensive income and reported in the Consolidated Statements of Comprehensive Income. The fair value of securities is determined using quoted market prices. |
Schedule of Other Assets [Table Text Block] | The following table represents the components of Other assets in the accompanying Consolidated Balance Sheets: December 31, (in thousands) 2017 2016 Goodwill (1) $ 331,884 — Investments 41,636 36,008 Prepaid and other 30,332 10,386 Derivative assets 14,515 11,622 Furniture, fixtures, and equipment, net 6,123 4,094 Deferred financing costs, net 2,637 3,557 Total other assets $ 427,127 65,667 (1) Goodwill amount is subject to provisional accounting for the purchase price allocation from the Equity One merger, as discussed in note 2. |
Summary of Significant Accoun31
Summary of Significant Accounting Policies Recent Accounting Pronouncements (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Accounting Policies [Abstract] | |
Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block] | Standard Description Date of adoption Effect on the financial statements or other significant matters Recently adopted: ASU 2016-09, March 2016, Compensation-Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting This ASU affects entities that issue share-based payment awards to their employees. The ASU is designed to simplify several aspects of accounting for share-based payment award transactions including income tax consequences, classification of awards as either equity or liabilities, an option to recognize stock compensation forfeitures as they occur, and changes to classification on the statement of cash flows. January 2017 The adoption of this standard resulted in the reclassification of income taxes withheld on share-based awards out of operating activities into financing activities on the Statement of Cash Flows. As retrospective application was required for this component of the ASU, $8.0 million was reclassified on the Statements of Cash Flows for the year ended December 31, 2016. ASU 2017-01 This ASU amends and provides a screen to determine when an integrated set of assets and activities, collectively referred to as a "set", is not a business. The screen requires that when substantially all of the fair value of the gross assets acquired (or disposed of) is concentrated in a single identifiable asset or a group of similar identifiable assets, the set is not a business. July 2017 This standard changed the treatment of individual operating properties from being considered a business to being considered an asset. ASU 2017-04, January 2017, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment This ASU simplifies how an entity tests goodwill for impairment by eliminating Step 2 from the goodwill impairment test. Step 2 measures a goodwill impairment loss by comparing the implied fair value of a reporting unit's goodwill with the carrying amount of that goodwill. Instead, under this update, the Company will perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. The Company would then recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit's fair value, not to exceed the total amount of goodwill allocated to that reporting unit. October 2017 The Company early adopted this ASU on October 1, 2017. The adoption of this ASU did not have an impact on the Company's financial statements and related disclosures, but rather simplified the method of evaluating goodwill for impairment. Standard Description Date of adoption Effect on the financial statements or other significant matters Not yet adopted: ASU 2017-12, August 2017, Targeted Improvements to Accounting for Hedging Activities This ASU provides updated guidance to better align a company’s financial reporting for hedging activities with the economic objectives of those activities. The transition guidance provides companies with the option of early adopting the new standard using a modified retrospective transition method in any interim period after issuance of the update, or alternatively requires adoption for fiscal years beginning after December 15, 2018. This adoption method will require the Company to recognize the cumulative effect of initially applying the ASU as an adjustment to accumulated other comprehensive income with a corresponding adjustment to the opening balance of retained earnings as of the beginning of the fiscal year that an entity adopts the update. January 2018 The Company plans to early adopt this ASU on January 1, 2018. The Company has assessed the impacts of the standard and has determined that the adoption and implementation of this standard will not have a material impact on the consolidated financial statements. ASU 2016-01, January 2016, Financial Instruments—Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities This ASU amends the guidance to classify equity securities with readily-determinable fair values into different categories and requires equity securities to be measured at fair value with changes in the fair value recognized through net income. Equity investments accounted for under the equity method are not included in the scope of this amendment. Early adoption of this amendment is not permitted. January 2018 The Company has assessed the impacts of the standard and determined that the adoption and implementation of this standard will not have a material impact on its results of operations, financial condition or cash flows. ASU 2016-15, August 2016, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments This ASU makes eight targeted changes to how cash receipts and cash payments are presented and classified in the statement of cash flows to eliminate current diversity in practice. Early adoption is permitted on a retrospective basis. January 2018 The ASU is consistent with the Company's current treatment and the Company has determined that the adoption and implementation of this standard will not have an impact on its cash flow statement. ASU 2016-18, November 2016, Statement of Cash Flows (Topic 230): Restricted Cash This ASU requires entities to show the changes in the total of cash, cash equivalents, restricted cash, and restricted cash equivalents in the statement of cash flows. The amendments in this ASU should be applied using a retrospective transition method to each period presented. January 2018 The Company has assessed the impacts of the standard and determined that the adoption will result in a change to the classification and presentation of changes in restricted cash on its cash flow statement, which is not expected to be material. There will be no change to the Company's financial condition or results of operations from the adoption of this standard. Standard Description Date of adoption Effect on the financial statements or other significant matters Revenue from Contracts with Customers (Topic 606) and related updates: ASU 2014-09, May 2014, Revenue from Contracts with Customers (Topic 606) ASU 2016-08, March 2016, Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations ASU 2016-10, April 2016, Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing ASU 2016-12, May 2016, Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients ASU 2016-19, December 2016, Technical Corrections and Improvements ASU 2016-20, December 2016, Technical Corrections and Improvements to Topic 606 Revenue from Contracts With Customers ASU 2017-05, February 2017, Clarifying the Scope of Asset Derecognition Guidance and Accounting for Partial Sales of Nonfinancial Assets (Subtopic 610-20) In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers ("Topic 606"). The objective of Topic 606 is to establish a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers. It will supersede most of the existing revenue guidance, including industry-specific guidance. The core principal of this new standard is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In applying Topic 606, companies will perform a five-step analysis of transactions to determine when and how revenue is recognized. Topic 606 applies to all contracts with customers except those that are within the scope of other topics in the FASB's accounting standards codification. As a result, Topic 606 does not apply to revenue from lease contracts until the adoption of the new leases standard, Topic 842, in January 2019. ASU 2017-05 clarifies that ASC 610-20 applies to all nonfinancial assets (including real estate) for which the counterparty is not a customer and requires an entity to derecognize a nonfinancial asset in a partial sale transaction when it ceases to have a controlling financial interest in the asset and has transferred control of the asset. Once an entity transfers control of the nonfinancial asset, the entity is required to measure any noncontrolling interest it receives or retains at fair value. Under the current guidance, a partial sale is recognized and carryover basis is used for the retained interest resulting in only partial gain recognition by the entity, however, the new guidance eliminates the use of carryover basis and generally requires the full gain be recognized. The standard allows for either "full retrospective" adoption, meaning the standard is applied to all of the periods presented, or "modified retrospective" adoption, meaning the standard is applied only to the most recent period presented in the financial statements. Additional disclosures are also required in order to enable users of financial statements to understand the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers, including disaggregated disclosures of revenue recognized, contract balances, and performance obligations. January 2018 The majority of the Company's revenue originates from lease contracts and will be subject to Topic 842 to be adopted in January 2019. Upon the adoption of the new leases standard, certain recoveries from tenants may become subject to the revenue standard, which may have a different recognition pattern or presentation than under current GAAP. Beyond revenue from lease contracts, the Company's other main revenue streams, include: - Management, transaction and other fees from the Company's real estate partnerships, primarily in the form of property management fees, asset management fees, and leasing commission fees. The Company evaluated all partnership fee relationships and does not currently expect any changes in the timing of revenue recognition from these revenue streams. - Sales of real estate assets will be accounted for under Subtopic 610-20, which provides for revenue recognition based on transfer of control. For property sales where Regency has no continuing involvement, there should be no change to the Company's timing of recognition. For property sales in which Regency has continuing involvement, full gain recognition may be required, where gains may have been deferred under existing GAAP. Upon adoption of ASU 2017-05, the Company's $30.9 million of previously deferred gains from transactions with equity method investees will be recognized through opening retained earnings. The Company intends to follow the modified retrospective method of adoption, applying the standard to only 2018, and not restating prior periods presented in future financial statements. Standard Description Date of adoption Effect on the financial statements or other significant matters ASU 2016-02, February 2016, Leases (Topic 842) This ASU amends the existing accounting standards for lease accounting, including requiring lessees to recognize most leases on their balance sheets. It also makes targeted changes to lessor accounting, including a change to the treatment of internal leasing costs and legal costs, which can no longer be capitalized. Early adoption of this standard is permitted to coincide with adoption of ASU 2014-09. The standard requires a modified retrospective transition approach for all leases existing at, or entered into after, the date of initial application, with an option to use certain transition relief. January 2019 The Company is evaluating the impact this standard will have on its financial statements and related disclosures. Upon adoption, the Company will recognize right of use assets and corresponding lease obligations for its office and ground lease obligations. Capitalization of internal leasing costs and legal costs will no longer be permitted upon the adoption of this standard, which will result in an increase in Total operating expenses in the Consolidated Statements of Operations in the period of adoption and prospectively. Historic capitalization of internal leasing costs was $10.4 million and $10.5 million during the years ended December 31, 2017 and 2016, respectively. Historic capitalization of legal costs was $1.2 million and $0.7 million during the years ended December 31, 2017 and 2016, respectively, including our pro rata share recognized through Equity in income of investments in real estate partnerships. ASU 2016-13, June 2016 , Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments This ASU replaces the incurred loss impairment methodology in current GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. This ASU also applies to how the Company determines its allowance for doubtful accounts on tenant receivables. January 2020 The Company is evaluating the alternative methods of adoption and the impact it will have on its financial statements and related disclosures. |
Real Estate Investments (Tables
Real Estate Investments (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Wholly Owned Properties [Member] | |
Business Acquisition [Line Items] | |
Schedule of Business Acquisitions, by Acquisition [Table Text Block] | (in thousands) December 31, 2017 Date Purchased Property Name City/State Property Type Purchase Price Debt Assumed, Net of Premiums Intangible Assets Intangible Liabilities 3/6/2017 The Field at Commonwealth Chantilly, VA Development $ 9,500 — — — 3/8/2017 Pinecrest Place (1) Miami, FL Development — — — — 4/13/2017 Mellody Farm (2) Chicago, IL Development 26,200 — — — 6/28/2017 Concord outparcel (3) Miami, FL Operating 350 — — — 7/20/2017 Aventura Square outparcel (4) Miami, FL Operating 1,750 — 90 9 11/15/2017 Indigo Square Mount Pleasant, SC Development 3,900 — — — 12/21/2017 Scripps Ranch Marketplace San Diego, CA Operating 81,600 27,000 4,997 9,551 12/28/2017 Roosevelt Square Seattle, WA Operating 68,084 — 3,842 8,002 Total property acquisitions $ 191,384 27,000 8,929 17,562 (1) The Company leased 10.67 acres for a ground up development. (2) The Operating Partnership issued 195,732 partnership units valued at $13.1 million as partial consideration for the purchase price. (3) The Company purchased a 0.67 acre vacant outparcel adjacent to the Company's existing operating Concord Shopping Plaza. (4) The Company purchased a 0.06 acre outparcel improved with a leased building adjacent to the Company's existing operating Aventura Square. (in thousands) December 31, 2016 Date Purchased Property Name City/State Property Type Purchase Price Debt Assumed, Net of Premiums Intangible Assets Intangible Liabilities 2/22/2016 Garden City Park Garden City Park, NY Operating $ 17,300 — 10,171 2,940 3/4/2016 The Market at Springwoods Village (1) Houston, TX Development 17,994 — — — 5/16/2016 Market Common Clarendon Arlington, VA Operating 280,500 — 15,428 15,662 7/15/2016 Klahanie Shopping Center Sammamish, WA Operating 35,988 — 2,264 539 8/4/2016 The Village at Tustin Legacy Tustin, CA Development 18,800 — — — 10/26/2016 Nocatee Phase III Jacksonville, FL Development 240 — — — 10/30/2016 Brooklyn Station Phase II Jacksonville, FL Development 50 — — — 12/6/2016 The Village at Riverstone Houston, TX Development 16,656 — — — Total property acquisitions $ 387,528 — 27,863 19,141 (1) Regency acquired a 53% controlling interest in the Market at Springwoods Village partnership to develop a shopping center on land contributed by the partner. As a result of consolidation, the Company recorded the partner's non-controlling interest of $8.4 million in Limited partners' interests in consolidated partnerships in the accompanying Consolidated Balance Sheets. |
Equity One Inc. [Member] | |
Business Acquisition [Line Items] | |
Schedule of Business Acquisitions, by Acquisition [Table Text Block] | The following table provides the components that make up the total purchase price for the Equity One merger: (in thousands, except stock price) Purchase Price Shares of common stock issued for merger 65,379 Closing stock price on March 1, 2017 $ 68.40 Value of common stock issued for merger $ 4,471,808 Other cash payments 721,297 Total purchase price $ 5,193,105 |
Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block] | The following table details the provisional weighted average amortization and net accretion periods, in years, of the major classes of intangible assets and intangible liabilities arising from the Equity One merger: (in years) Weighted Average Amortization Period Assets: In-place leases 11.3 Above-market leases 7.9 Below-market ground leases 55.3 Liabilities: Below-market leases 25.8 |
Business Acquisition, Pro Forma Information [Table Text Block] | The consolidated net assets and results of operations of Equity One are included in the consolidated financial statements from the closing date, March 1, 2017, going forward and resulted in the following impact to Revenues and Net income attributable to common stockholders: (in thousands) Year ended December 31, 2017 Increase in total revenues $ 337,761 Increase in net income attributable to common stockholders $ 81,766 The Company incurred $80.7 million and $6.5 million , respectively, of merger-related transaction costs during the years ended December 31, 2017 and 2016, which are recorded in Other operating expenses in the accompanying Consolidated Statements of Operations, and are not reflected in the table above. |
Pro Forma [Member] | Equity One Inc. [Member] | |
Business Acquisition [Line Items] | |
Business Acquisition, Pro Forma Information [Table Text Block] | Pro forma Information (unaudited) The following unaudited pro forma financial data includes the incremental revenues, operating expenses, depreciation and amortization, and costs of the Equity One acquisition as if it had occurred on January 1, 2016: Year ended December 31, (in thousands, except per share data) 2017 2016 Total revenues $ 1,052,221 1,006,367 Income (loss) from operations (1) 281,393 63,907 Net income (loss) attributable to common stockholders (1) 262,270 40,868 Income (loss) per common share - basic 1.54 0.25 Income (loss) per common share - diluted 1.54 0.25 (1) The pro forma earnings for the year ended December 31, 2017, were adjusted to exclude $103.6 million of merger costs, while 2016 pro forma earnings were adjusted to include all merger costs during the first quarter of 2016. |
Provisional Purchase Price Allocation [Member] | Equity One Inc. [Member] | |
Business Acquisition [Line Items] | |
Schedule of Business Acquisitions, by Acquisition [Table Text Block] | The following table summarizes the current provisional purchase price allocation based on the Company's valuation, including estimates and assumptions of the acquisition date fair value of the tangible and intangible assets acquired and liabilities assumed: (in thousands) Provisional Purchase Price Allocation Land $ 2,865,053 Building and improvements 2,619,553 Properties in development 68,744 Properties held for sale 19,600 Investments in unconsolidated real estate partnerships 99,666 Real estate assets 5,672,616 Cash, accounts receivable and other assets 112,909 Intangible assets 458,554 Goodwill 331,884 Total assets acquired 6,575,963 Notes payable 757,399 Accounts payable, accrued expenses, and other liabilities 121,798 Lease intangible liabilities 503,661 Total liabilities assumed 1,382,858 Total purchase price $ 5,193,105 |
Provisional Purchase Price Allocation Adjustments [Member] | Equity One Inc. [Member] | |
Business Acquisition [Line Items] | |
Schedule of Business Acquisitions, by Acquisition [Table Text Block] | During the three months ended December 31, 2017 , the Company adjusted the provisional purchase price allocation to reflect current best estimates of fair values of the acquired operating properties, based on the valuation process described above. These adjustments resulted in the following increases (decreases) to earnings during the three months ended December 31, 2017 that would have been recognized in previous periods if the adjustments to provisional amounts were recognized as of the acquisition date: (in thousands) Three months ended December 31, 2017 decrease in Minimum rent $ (2,386 ) decrease in Depreciation and amortization 1,435 increase in Equity in income of investments in real estate partnerships 350 Net decrease to earnings of provisional purchase price allocation adjustments $ (601 ) |
Dispositions (Tables)
Dispositions (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Discontinued Operations and Disposal Groups [Abstract] | |
Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures [Table Text Block] | The following table provides a summary of consolidated shopping centers and land parcels disposed of: Year ended December 31, (in thousands) 2017 2016 2015 Net proceeds from sale of real estate investments $ 112,161 137,479 (1) 108,822 Gain on sale of real estate, net of tax $ 27,432 47,321 35,606 Provision for impairment of real estate sold $ — 1,700 — Number of operating properties sold 6 11 5 Number of land out-parcels sold 9 16 2 (1) Includes cash deposits received in the previous year. |
Investments in Real Estate Pa34
Investments in Real Estate Partnerships (Tables) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Schedule of Equity Method Investments [Line Items] | ||
Business dispositions unconsolidated co-investment partnership [Table Text Block] | The following table provides a summary of consolidated shopping centers and land parcels disposed of: Year ended December 31, (in thousands) 2017 2016 2015 Net proceeds from sale of real estate investments $ 112,161 137,479 (1) 108,822 Gain on sale of real estate, net of tax $ 27,432 47,321 35,606 Provision for impairment of real estate sold $ — 1,700 — Number of operating properties sold 6 11 5 Number of land out-parcels sold 9 16 2 (1) Includes cash deposits received in the previous year. | |
Schedule of Equity Method Investments [Table Text Block] | 4. Investments in Real Estate Partnerships The Company invests in real estate partnerships, which consist of the following: December 31, 2017 (in thousands) Regency's Ownership Number of Properties Total Investment Total Assets of the Partnership Net Income of the Partnership The Company's Share of Net Income of the Partnership GRI - Regency, LLC (GRIR) 40.00% 70 $ 198,521 1,656,068 69,211 27,440 Equity One JV Portfolio, LLC (NYC) 30.00% 6 53,277 284,412 2,757 686 Columbia Regency Retail Partners, LLC (Columbia I) 20.00% 6 7,057 130,836 18,233 3,620 Columbia Regency Partners II, LLC (Columbia II) 20.00% 12 13,720 329,992 7,690 1,530 Cameron Village, LLC (Cameron) 30.00% 1 11,784 99,808 2,917 850 RegCal, LLC (RegCal) 25.00% 7 27,829 138,717 5,613 1,403 US Regency Retail I, LLC (USAA) 20.01% 7 — 90,900 22,299 4,456 Other investments in real estate partnerships 50.00% 6 74,116 154,987 11,238 3,356 Total investments in real estate partnerships 115 $ 386,304 2,885,720 139,958 43,341 December 31, 2016 (in thousands) Regency's Ownership Number of Properties Total Investment Total Assets of the Partnership Net Income of the Partnership The Company's Share of Net Income of the Partnership GRI - Regency, LLC (GRIR) 40.00% 70 $ 201,240 1,676,134 74,758 29,791 Columbia Regency Retail Partners, LLC (Columbia I) 20.00% 7 9,687 145,192 21,024 4,180 Columbia Regency Partners II, LLC (Columbia II) 20.00% 12 14,750 338,307 16,765 3,240 Cameron Village, LLC (Cameron) 30.00% 1 11,877 99,967 2,326 695 RegCal, LLC (RegCal) 25.00% 7 21,516 141,827 4,358 1,080 US Regency Retail I, LLC (USAA) 20.01% 8 13,176 109,665 5,901 1,180 Other investments in real estate partnerships 50.00% 4 24,453 97,650 35,915 16,352 Total investments in real estate partnerships 109 $ 296,699 2,608,742 161,047 56,518 The summarized balance sheet information for the investments in real estate partnerships, on a combined basis, is as follows: December 31, (in thousands) 2017 2016 Investments in real estate, net $ 2,682,578 2,439,110 Acquired lease intangible assets, net 54,021 42,974 Other assets 149,121 126,658 Total assets $ 2,885,720 2,608,742 Notes payable $ 1,514,729 1,309,931 Acquired lease intangible liabilities, net 42,466 29,678 Other liabilities 70,498 64,979 Capital - Regency 445,068 405,722 Capital - Third parties 812,959 798,432 Total liabilities and capital $ 2,885,720 2,608,742 The following table reconciles the Company's capital recorded by the unconsolidated partnerships to the Company's investments in real estate partnerships reported in the accompanying consolidated balance sheet: December 31, (in thousands) 2017 2016 Capital - Regency $ 445,068 405,722 Basis difference 40,351 1,382 Negative investment in USAA (1) 11,290 — Impairment of investment in real estate partnerships (1,300 ) (1,300 ) Restricted Gain Method deferral (2) (30,902 ) (30,902 ) Net book equity in excess of purchase price (78,203 ) (78,203 ) Investments in real estate partnerships $ 386,304 296,699 (1) During 2017, the USAA partnership distributed proceeds from debt refinancing and real estate sales in excess of Regency's carrying value of its investment resulting in a negative investment balance, which is recorded within Accounts payable and other liabilities in the Consolidated Balance Sheets. (2) Represents gains deferred under the Company's restricted gain method to maximize deferrals of gains associated with historic sales of shopping centers into joint ventures which contain distribution-in-kind ("DIK") provisions as a liquidation election. Regency has not sold any shopping centers into joint ventures during the years ended December 31, 2017, 2016 and 2015. As discussed further in note 1(n), the accounting for these deferred gains will change upon the adoption of ASU 2017-05 and Topic 606 on January 1, 2018. The revenues and expenses for the investments in real estate partnerships, on a combined basis, are summarized as follows: Year ended December 31, (in thousands) 2017 2016 2015 Total revenues $ 396,596 364,087 363,745 Operating expenses: Depreciation and amortization 99,327 99,252 111,648 Operating and maintenance 58,283 52,725 51,970 General and administrative 5,582 5,342 5,292 Real estate taxes 49,904 42,813 43,769 Other operating expenses 2,923 2,356 2,989 Total operating expenses $ 216,019 202,488 215,668 Other expense (income): Interest expense, net 73,244 69,193 79,477 Gain on sale of real estate (34,276 ) (70,907 ) (2,766 ) Provision for impairment — — 9,102 Early extinguishment of debt — 69 — Other expense (income) 1,651 2,197 1,516 Total other expense (income) 40,619 552 87,329 Net income of the Partnerships $ 139,958 161,047 60,748 The Company's share of net income of the Partnerships $ 43,341 56,518 22,508 Acquisitions The following table provides a summary of shopping centers and land parcels acquired through our unconsolidated real estate partnerships: (in thousands) Year ended December 31, 2017 Date Purchased Property Name City/State Property Type Co-investment Partner Ownership % Purchase Price Debt Assumed, Net of Premiums Intangible Assets Intangible Liabilities 10/11/2017 Midtown East Raleigh, NC Development ITB Holdings, LLC 50.00% $ 15,075 — — — Total property acquisitions $ 15,075 — — — (in thousands) Year ended December 31, 2016 Date Purchased Property Name City/State Property Type Co-investment Partner Ownership % Purchase Price Debt Assumed, Net of Premiums Intangible Assets Intangible Liabilities 3/24/2016 Applewood Village Shops Denver, CO Operating (1) GRIR 40.00% $ 200 — — — 12/20/2016 Plaza Venezia Orlando, FL Operating Columbia II 20.00% 92,350 35,076 6,899 11,548 Total property acquisitions $ 92,550 35,076 6,899 11,548 (1) Land parcels purchased as additions to the operating property. Dispositions The following table provides a summary of shopping centers and land out-parcels disposed of through our unconsolidated real estate partnerships: Year ended December 31, (in thousands) 2017 2016 2015 Proceeds from sale of real estate investments $ 73,122 174,090 39,459 Gain on sale of real estate $ 34,276 70,907 2,766 The Company's share of gain on sale of real estate $ 6,591 25,003 1,108 Number of operating properties sold 3 10 2 Number of land out-parcels sold 1 1 — Notes Payable Scheduled principal repayments on notes payable held by our unconsolidated investments in real estate partnerships as of December 31, 2017 were as follows: Scheduled Principal Payments and Maturities by Year: Scheduled Mortgage Loan Maturities Unsecured Total Regency’s 2018 $ 21,059 30,022 — 51,081 19,647 2019 19,852 73,259 — 93,111 24,448 2020 16,823 224,090 19,635 260,548 91,039 2021 10,818 269,942 — 280,760 100,402 2022 7,569 195,702 — 203,271 73,369 Beyond 5 Years 3,011 633,298 — 636,309 215,071 Net unamortized loan costs, debt premium / (discount) — (10,351 ) — (10,351 ) (3,365 ) Total notes payable $ 79,132 1,415,962 19,635 1,514,729 520,611 These loans are all non-recourse. Maturities will be repaid from proceeds from refinancing, partner capital contributions, or a combination thereof. The Company is obligated to contribute its pro-rata share to fund maturities if the loans are not refinanced, and it has the capacity to do so from existing cash balances, availability on its line of credit, and operating cash flows. The Company believes that its partners are financially sound and have sufficient capital or access thereto to fund future capital requirements. In the event that a co-investment partner was unable to fund its share of the capital requirements of the co-investment partnership, the Company would have the right, but not the obligation, to loan the defaulting partner the amount of its capital call. | |
Schedule of Related Party Transactions [Table Text Block] | Management fee income In addition to earning our pro-rata share of net income or loss in each of these co-investment partnerships, we receive fees, as follows: Year ended December 31, (in thousands) 2017 2016 2015 Asset management, property management, leasing, and investment and financing services $ 25,260 24,595 24,519 | |
Unconsolidated Properties [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
Schedule of Business Acquisitions, by Acquisition [Table Text Block] | (in thousands) Year ended December 31, 2017 Date Purchased Property Name City/State Property Type Co-investment Partner Ownership % Purchase Price Debt Assumed, Net of Premiums Intangible Assets Intangible Liabilities 10/11/2017 Midtown East Raleigh, NC Development ITB Holdings, LLC 50.00% $ 15,075 — — — Total property acquisitions $ 15,075 — — — (in thousands) Year ended December 31, 2016 Date Purchased Property Name City/State Property Type Co-investment Partner Ownership % Purchase Price Debt Assumed, Net of Premiums Intangible Assets Intangible Liabilities 3/24/2016 Applewood Village Shops Denver, CO Operating (1) GRIR 40.00% $ 200 — — — 12/20/2016 Plaza Venezia Orlando, FL Operating Columbia II 20.00% 92,350 35,076 6,899 11,548 Total property acquisitions $ 92,550 35,076 6,899 11,548 (1) Land parcels purchased as additions to the operating property. | |
Business dispositions unconsolidated co-investment partnership [Table Text Block] | Dispositions The following table provides a summary of shopping centers and land out-parcels disposed of through our unconsolidated real estate partnerships: Year ended December 31, (in thousands) 2017 2016 2015 Proceeds from sale of real estate investments $ 73,122 174,090 39,459 Gain on sale of real estate $ 34,276 70,907 2,766 The Company's share of gain on sale of real estate $ 6,591 25,003 1,108 Number of operating properties sold 3 10 2 Number of land out-parcels sold 1 1 — |
Acquired Lease Intangibles (Ta
Acquired Lease Intangibles (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of Net Accumulated Amortization and Accretion | The Company had the following acquired lease intangibles: December 31, (in thousands) 2017 (1) 2016 In-place leases $ 470,315 96,178 Above-market leases 64,625 14,684 Below-market ground leases 92,166 64,664 Total intangible assets $ 627,106 175,526 Accumulated amortization (148,280 ) (56,695 ) Acquired lease intangible assets, net $ 478,826 118,831 Below-market leases $ 588,850 71,996 Above-market ground leases 5,101 5,722 Total intangible liabilities 593,951 77,718 Accumulated amortization (56,550 ) (23,538 ) Acquired lease intangible liabilities, net $ 537,401 54,180 (1) Includes estimated values for acquired lease intangibles from the Equity One merger, for which the accounting remains provisional as of December 31, 2017, as discussed in Note 2. The following table provides a summary of amortization and net accretion amounts from acquired lease intangibles: Year ended December 31, (in thousands) 2017 (4) 2016 2015 In-place lease amortization $ 88,284 11,533 9,141 Above-market lease amortization (1) 9,443 1,742 1,950 Below-market ground lease amortization (3) 1,886 1,111 351 Acquired lease intangible asset amortization $ 99,613 14,386 11,442 Below-market lease amortization (2) $ 34,786 6,827 3,940 Above-market ground lease amortization (3) 136 167 215 Acquired lease intangible liability amortization $ 34,922 6,994 4,155 (1) Amounts are recorded as a reduction to minimum rent. (2) Amounts are recorded as an increase to minimum rent. (3) Above and below market ground lease amortization are recorded as offsets to Operating and maintenance. (4) Amortization and net accretion for the year ended December 31, 2017, includes amounts subject to provisional accounting from the Equity One merger, as discussed in Note 2. |
Schedule of Future Amortization Expense and Minimum Rent | The estimated aggregate amortization and net accretion amounts from acquired lease intangibles, including provisional purchase price accounting for Equity One acquired lease intangibles, for the next five years are as follows: (in thousands) In Process Year Ending December 31, Net accretion of Above / Below market lease intangibles Amortization of In-place lease intangibles Net amortization of Below / Above ground lease intangibles 2018 $ 29,654 72,769 1,560 2019 28,754 54,743 1,550 2020 27,710 41,211 1,544 2021 27,106 32,893 1,545 2022 25,440 25,202 1,555 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Income Tax Disclosure [Abstract] | |
Schedule of Tax Status of Dividends | The following table summarizes the tax status of dividends paid on our common shares: Year ended December 31, (in thousands) 2017 2016 2015 Dividend per share $2.10 2.00 1.94 Ordinary income 86% 53% 71% Capital gain 10% 8% 5% Return of capital 4% 39% 19% Qualified dividend income —% —% 5% |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | Our consolidated expense (benefit) for income taxes for the years ended December 31, 2017, 2016, and 2015 was as follows: Year ended December 31, (in thousands) 2017 2016 2015 Income tax (benefit) expense: Current $ 1,168 (153 ) (1,604 ) Deferred (10,815 ) — — Total income tax (benefit) expense (1) $ (9,647 ) (153 ) (1,604 ) (1) Includes $90 thousand of tax expense presented within Other operating expenses during the year ended December 31, 2017, and $153 thousand and $1.6 million of tax benefit presented within Gain on sale of real estate, net of tax, during the years ended December 31, 2016 and 2015, respectively. |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | The TRS entities are subject to federal and state income taxes and file separate tax returns. Income tax (benefit) expense differed from the amounts computed by applying the U.S. Federal income tax rate to pretax income of the TRS entities, as follows: Year ended December 31, (in thousands) 2017 2016 2015 Computed expected tax expense (benefit) $ 1,190 933 1,730 State income tax, net of federal benefit 108 56 224 Valuation allowance (1,512 ) (1,239 ) (3,556 ) Tax rate change (9,737 ) — — All other items 304 97 (2 ) Total income tax benefit (1) (9,647 ) (153 ) (1,604 ) Income tax benefit attributable to operations (1) $ (9,647 ) (153 ) (1,604 ) (1) Includes $90 thousand of tax expense presented within Other operating expenses during the year ended December 31, 2017, and $153 thousand and $1.6 million of tax benefit presented within Gain on sale of real estate, net of tax, during the years ended December 31, 2016 and 2015, respectively. |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | The tax effects of temporary differences and carryforwards (included in Accounts payable and other liabilities in the accompanying Consolidated Balance Sheets) are summarized as follows: December 31, (in thousands) 2017 2016 Deferred tax assets Investments in real estate partnerships $ — 361 Provision for impairment 3,785 5,827 Deferred interest expense 2,754 2,714 Capitalized costs under Section 263A 729 1,145 Net operating loss carryforward 373 — Employee benefits — 44 Other 2,297 3,059 Deferred tax assets 9,938 13,150 Valuation allowance (8,300 ) (12,507 ) Deferred tax assets, net 1,638 643 Deferred tax liabilities Straight line rent (528 ) 643 Fixed assets (19,757 ) — Other (7 ) — Deferred tax liabilities (20,292 ) 643 Net deferred tax liabilities $ (18,654 ) — |
Notes Payable and Unsecured C37
Notes Payable and Unsecured Credit Facilities (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Debt Instrument [Line Items] | |
Schedule of Debt [Table Text Block] | The Company’s outstanding debt consists of the following: December 31, (in thousands) 2017 2016 Notes payable: Fixed rate mortgage loans $ 520,193 384,786 Variable rate mortgage loans 125,866 (1) 86,969 Fixed rate unsecured public and private debt 2,325,656 892,170 Total notes payable $ 2,971,715 1,363,925 Unsecured credit facilities: Line of Credit 60,000 15,000 Term Loans 563,262 263,495 Total unsecured credit facilities $ 623,262 278,495 Total debt outstanding $ 3,594,977 1,642,420 (1) Includes five mortgages, whose interest varies on LIBOR based formulas. Three of these variable rate loans have interest rate swaps in place to fix the interest rates at a range of 2.8% to 4.1%. |
Schedule of Line of Credit Facilities [Table Text Block] | The key terms of the Line and Term Loans were as follows: December 31, 2017 (in thousands) Total Capacity Remaining Capacity Maturing Through Variable Interest Rate (4) Fee Weighted Average Effective Rate Weighted Average Contractual Rate Line (7) $ 1,000,000 $ 930,600 (1) 5/13/2019 (2) LIBOR plus 0.925% $ 75 (3) (6) 2.30 % 2.12 % Term Loan (8) $ 265,000 $ — 1/5/2022 LIBOR plus 0.95% (5) $ 35 (6) 2.20 % 2.00 % Term Loan (8) $ 300,000 $ — 12/2/2020 LIBOR plus 0.95% (9) $ 35 (6) 2.80 % 2.77 % (1) Borrowing capacity is reduced by the balance of outstanding borrowings and commitments under outstanding letters of credit. (2) Maturity is subject to two six month extensions at the Company's option. (3) In addition, carries a commitment fee that is subject to adjustment based on the higher of the Company's corporate credit ratings from Moody's and S&P. At December 31, 2017, the commitment fee was 0.15%. (4) Interest rate spread is subject to Regency maintaining its corporate credit and senior unsecured ratings at BBB+. (5) The interest rate on the underlying debt is LIBOR + 0.95%. Effective July 7, 2016, an interest rate swap is in place to fix the interest on the entire balance at 2% through maturity. (6) Annual fee, in thousands. (7) Weighted average contractual and effective rates for the Line are calculated based on a fully drawn Line balance. (8) Weighted average contractual and effective rates for the Term Loans are based on the fixed rate with the interest rate swap. (9) The interest rate on the underlying debt is LIBOR + 0.95%, with an interest rate swap in place to fix the interest on the entire balance at 2.774% through maturity. |
Schedule of Maturities of Long-term Debt [Table Text Block] | Scheduled principal payments and maturities on notes payable and unsecured credit facilities were as follows: (in thousands) December 31, 2017 Scheduled Principal Payments and Maturities by Year: Scheduled Mortgage Unsecured Maturities (1) Total 2018 $ 10,641 112,226 — 122,867 2019 9,360 21,787 60,000 91,147 2020 11,122 78,580 450,000 539,702 2021 11,426 66,751 250,000 328,177 2022 11,618 5,848 565,000 582,466 Beyond 5 Years 37,056 260,328 1,650,000 1,947,384 Unamortized debt premium/(discount) and issuance costs — 9,316 (26,082 ) (16,766 ) Total notes payable $ 91,223 554,836 2,948,918 3,594,977 (1) Includes unsecured public and private debt and unsecured credit facilities. The Company has $112.2 million of debt maturing over the next twelve months, all of which is in the form of non-recourse mortgage loans. |
Fixed Rate Mortgage Loans [Member] | |
Debt Instrument [Line Items] | |
Schedule of Long-term Debt Instruments [Table Text Block] | As of December 31, 2017 , the key interest rates of the Company's notes payables were as follows: Interest Rates Maturing Through Minimum Maximum Weighted Average Effective Rate Weighted Average Contractual Rate Mortgage loans (1) 2036 2.39% 8.00% 4.23% 4.77% Fixed rate unsecured public and private debt 2047 3.60% 6.00% 4.11% 4.57% (1) Interest rates disclosed for mortgages include variable rate mortgages using the fixed interest rates from the interest rate swaps, as disclosed in Note 8. |
Derivative Financial Instrume38
Derivative Financial Instruments (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block] | The following table summarizes the terms and fair values of the Company's derivative financial instruments, as well as their classification on the Consolidated Balance Sheets: Fair Value at December 31, (in thousands) Assets (Liabilities) (1) Effective Date Maturity Date Notional Amount Bank Pays Variable Rate of Regency Pays Fixed Rate of 2017 2016 4/3/17 12/2/20 $ 300,000 1 Month LIBOR with Floor 1.824% $ 1,804 — 8/1/16 1/5/22 265,000 1 Month LIBOR with Floor 1.053% 10,744 9,889 4/7/16 4/1/23 20,000 1 Month LIBOR 1.303% 801 720 12/1/16 11/1/23 33,000 1 Month LIBOR 1.490% 1,166 1,013 6/2/17 6/2/27 37,500 1 Month LIBOR with Floor 2.366% (177 ) (580 ) Total derivative financial instruments $ 14,338 11,042 (1) Derivatives in an asset position are included within Other assets in the accompanying Consolidated Balance Sheets, while those in a liability position are included within Accounts payable and other liabilities. |
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance [Table Text Block] | The following table represents the effect of the derivative financial instruments on the accompanying consolidated financial statements: Amount of Gain (Loss) Location and Amount of Gain (Loss) Location and Amount of Gain or Year ended December 31, Year ended December 31, Year ended December 31, (in thousands) 2017 2016 2015 2017 2016 2015 2017 2016 2015 Interest rate swaps $ 1,151 (10,332 ) (10,089 ) Interest expense $ (11,103 ) (51,139 ) (9,152 ) Loss on derivative instruments $ — (40,586 ) — |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Fair Value Disclosures [Abstract] | |
Fair Value, by Balance Sheet Grouping [Table Text Block] | All financial instruments of the Company are reflected in the accompanying Consolidated Balance Sheets at amounts which, in management's estimation, reasonably approximates their fair values, except for the following: December 31, 2017 2016 (in thousands) Carrying Amount Fair Value Carrying Amount Fair Value Financial assets: Notes receivable $ 15,803 15,660 $ 10,481 10,380 Financial liabilities: Notes payable $ 2,971,715 3,058,044 $ 1,363,925 1,435,000 Unsecured credit facilities $ 623,262 625,000 $ 278,495 279,700 |
Fair Value, Interest rate ranges [Table Text Block] | The following interest rates were used by the Company to estimate the fair value of its financial instruments: December 31, 2017 2016 Low High Low High Notes receivable 3.8% 7.8% 7.2% 7.2% Notes payable 3.0% 3.9% 2.9% 3.9% Unsecured credit facilities 2.0% 3.0% 1.5% 1.6% |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | The following table presents the placement in the fair value hierarchy of assets and liabilities that are measured at fair value on a recurring basis: Fair Value Measurements as of December 31, 2017 Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs (in thousands) Balance (Level 1) (Level 2) (Level 3) Assets: Trading securities held in trust $ 31,662 31,662 — — Available-for-sale securities 9,974 — 9,974 — Interest rate derivatives 14,515 — 14,515 — Total $ 56,151 31,662 24,489 — Liabilities: Interest rate derivatives $ (177 ) — (177 ) — Fair Value Measurements as of December 31, 2016 Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs (in thousands) Balance (Level 1) (Level 2) (Level 3) Assets: Trading securities held in trust $ 28,588 28,588 — — Available-for-sale securities 7,420 — 7,420 — Interest rate derivatives 11,622 — 11,622 — Total $ 47,630 28,588 19,042 — Liabilities: Interest rate derivatives $ (580 ) — (580 ) — |
Equity and Capital (Tables)
Equity and Capital (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Equity and Capital [Abstract] | |
Schedule of Preferred Stock [Table Text Block] | Preferred Stock of the Parent Company There were no preferred stock series outstanding as of December 31, 2017 . Terms and conditions of the preferred stock outstanding at December 31, 2016 , which were redeemed during 2017, are summarized as follows: Date of Issuance Shares Issued and Outstanding Liquidation Preference Distribution Rate Callable By Company Series 6 2/16/2012 10,000,000 $ 250,000,000 6.625% 2/16/2017 Series 7 8/23/2012 3,000,000 75,000,000 6.000% 8/23/2017 13,000,000 $ 325,000,000 The Series 6 and 7 preferred shares were perpetual, absent a change in control of the Parent Company, were not convertible into common stock of the Parent Company, and were redeemable at par upon the Company’s election beginning 5 years after the issuance date. None of the terms of the preferred stock contained any unconditional obligations that would have require the Company to redeem the securities at any time or for any purpose. Preferred Shares Redemption On February 16, 2017 , the Parent Company redeemed all of the issued and outstanding 6.625% Series 6 cumulative redeemable preferred shares. The redemption price of $25.21 per share included accrued and unpaid dividends, resulting in an aggregate amount being paid of $252.0 million . The funds used to redeem the Series 6 preferred shares were provided by the January 2017 senior unsecured debt offering. On August 23, 2017 , the Parent Company also redeemed all of the issued and outstanding 6.000% Series 7 cumulative redeemable preferred stock. The redemption price of $25.22 per share included accrued and unpaid dividends resulting in an aggregate amount being paid of $75.7 million . The Company used proceeds from its senior unsecured notes issued in June 2017 to fund the redemption. |
Schedule of Market Equity Distributions [Table Text Block] | The following table presents the shares that were issued under the ATM equity program, which was used to fund investment activities: Year ended December 31, (dollar amounts are in thousands, except price per share data) 2017 2016 Shares issued (1) — 182,787 Weighted average price per share $ — 68.85 Gross proceeds $ — 12,584 Commissions $ — 157 Issuance costs (2) $ 349 97 (1) Reflects shares traded in December and settled in January each year. (2) Includes legal and accounting costs associated with maintaining the ATM program. |
Schedule of Capital Units [Table Text Block] | The Parent Company, as general partner, owned the following Partnership Units outstanding: December 31, (in thousands) 2017 2016 Partnership units owned by the general partner 171,365 104,497 Partnership units owned by the limited partners 350 154 Total partnership units outstanding 171,715 104,651 Percentage of partnership units owned by the general partner 99.8% 99.9% |
Schedule of Accumulated Other Comprehensive Income (Loss) | The following table presents changes in the balances of each component of AOCI: Controlling Interest Noncontrolling Interest Total (in thousands) Cash Flow Hedges Unrealized gain (loss) on Available-For-Sale Securities AOCI Cash Flow Hedges Unrealized gain (loss) on Available-For-Sale Securities AOCI AOCI Balance as of December 31, 2014 $ (57,748 ) — (57,748 ) (750 ) — (750 ) (58,498 ) Other comprehensive income before reclassifications (9,897 ) (43 ) (9,940 ) (192 ) — (192 ) (10,132 ) Amounts reclassified from accumulated other comprehensive income 8,995 — 8,995 157 — 157 9,152 Current period other comprehensive income, net (902 ) (43 ) (945 ) (35 ) — (35 ) (980 ) Balance as of December 31, 2015 $ (58,650 ) (43 ) (58,693 ) (785 ) — (785 ) (59,478 ) Other comprehensive income before reclassifications (10,587 ) 24 (10,563 ) 255 — 255 (10,308 ) Amounts reclassified from accumulated other comprehensive income 50,910 — 50,910 229 — 229 51,139 Current period other comprehensive income, net 40,323 24 40,347 484 — 484 40,831 Balance as of December 31, 2016 $ (18,327 ) (19 ) (18,346 ) (301 ) — (301 ) (18,647 ) Other comprehensive income before reclassifications 1,134 (8 ) 1,126 17 — 17 1,143 Amounts reclassified from accumulated other comprehensive income 10,931 — 10,931 172 — 172 11,103 Current period other comprehensive income, net 12,065 (8 ) 12,057 189 — 189 12,246 Balance as of December 31, 2017 $ (6,262 ) (27 ) (6,289 ) (112 ) — (112 ) (6,401 ) |
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block] | The following represents amounts reclassified out of AOCI into income: AOCI Component Amount Reclassified from AOCI into Income Affected Line Item(s) Where Net Income is Presented Year ended December 31, (in thousands) 2017 2016 2015 Interest rate swaps $ 11,103 51,139 9,152 Interest expense and Loss on derivative instruments |
Earnings per Share and Unit (Ta
Earnings per Share and Unit (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Parent Company [Member] | |
Schedule of Earnings Per Share, Basic and Diluted | Parent Company Earnings per Share The following summarizes the calculation of basic and diluted earnings per share: Year ended December 31, (in thousands, except per share data) 2017 2016 2015 Numerator: Income from operations attributable to common stockholders - basic $ 159,949 143,860 128,994 Income from operations attributable to common stockholders - diluted $ 159,949 143,860 128,994 Denominator: Weighted average common shares outstanding for basic EPS 159,536 100,863 94,391 Weighted average common shares outstanding for diluted EPS (1) 159,960 101,285 94,856 Income per common share – basic $ 1.00 1.43 1.37 Income per common share – diluted $ 1.00 1.42 1.36 (1) Includes the dilutive impact of unvested restricted stock. |
Partnership Interest [Member] | |
Schedule of Earnings Per Share, Basic and Diluted | Operating Partnership Earnings per Unit The following summarizes the calculation of basic and diluted earnings per unit: Year ended December 31, (in thousands, except per share data) 2017 2016 2015 Numerator: Income from operations attributable to common unit holders - basic $ 160,337 144,117 129,234 Income from operations attributable to common unit holders - diluted $ 160,337 144,117 129,234 Denominator: Weighted average common units outstanding for basic EPU 159,831 101,017 94,546 Weighted average common units outstanding for diluted EPU (1) 160,255 101,439 95,011 Income per common unit – basic $ 1.00 1.43 1.37 Income per common unit – diluted $ 1.00 1.42 1.36 (1) Includes the dilutive impact of unvested restricted stock and forward equity offering using the treasury stock method. |
Operating Leases (Tables)
Operating Leases (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Operating Leased Assets [Line Items] | |
Schedule of Future Minimum Rental Payments for Operating Leases | Future minimum rents under non-cancelable operating leases as of December 31, 2017 , excluding both tenant reimbursements of operating expenses and additional percentage rent based on tenants' sales, are as follows: In Process Year Ending December 31, Future Minimum Rents (in thousands) 2018 $ 734,157 2019 669,345 2020 589,515 2021 505,592 2022 412,924 Thereafter 1,643,594 Total $ 4,555,127 |
Lease Agreements [Member] | |
Operating Leased Assets [Line Items] | |
Schedule of Future Minimum Rental Payments for Operating Leases | The following table summarizes the future obligations under non-cancelable operating leases as of December 31, 2017 : In Process Year Ending December 31, Future Obligations (in thousands) 2018 $ 14,266 2019 15,329 2020 14,778 2021 13,907 2022 13,049 Thereafter 481,972 Total $ 553,301 |
Summary of Quarterly Financia43
Summary of Quarterly Financial Data (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Quarterly Financial Information Disclosure [Abstract] | |
Quarterly Financial Information [Table Text Block] | The following table summarizes selected Quarterly Financial Data for the Company on a historical basis for the years ended December 31, 2017 and 2016 : (in thousands except per share and per unit data) First Quarter Second Quarter Third Quarter Fourth Quarter Year ended December 31, 2017 Operating Data: Revenue $ 196,131 261,305 262,141 264,749 Net income attributable to common stockholders $ (33,223 ) 48,368 59,666 85,138 Net income attributable to exchangeable operating partnership units (19 ) 104 132 171 Net income attributable to common unit holders $ (33,242 ) 48,472 59,798 85,309 Net income attributable to common stock and unit holders per share and unit: Basic $ (0.26 ) 0.28 0.35 0.50 Diluted $ (0.26 ) 0.28 0.35 0.50 Year ended December 31, 2016 Operating Data: Revenue $ 149,628 152,413 152,769 159,561 Net income attributable to common stockholders $ 47,877 34,810 5,305 55,868 Net income attributable to exchangeable operating partnership units 85 64 16 92 Net income attributable to common unit holders $ 47,962 34,874 5,321 55,960 Net income attributable to common stock and unit holders per share and unit: Basic $ 0.49 0.36 0.05 0.53 Diluted $ 0.49 0.35 0.05 0.53 |
Stock-Based Compensation (Table
Stock-Based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Schedule of Nonvested Share Activity [Table Text Block] | The following table summarizes non-vested restricted stock activity: Year ended December 31, 2017 Number of Shares Intrinsic Value Weighted Average Grant Price Non-vested as of December 31, 2016 561,261 Add: Time-based awards granted (1) (4) 118,339 $69.47 Add: Performance-based awards granted (2) (4) 38,494 $68.95 Add: Market-based awards granted (3) (4) 65,449 $78.54 Less: Vested and Distributed (5) 207,403 $69.32 Less: Forfeited 6,063 $66.91 Non-vested and expected to vest as of December 31, 2017 (6) 570,077 $39,438 (1) Time-based awards vest beginning on the first anniversary following the grant date over a three or four year service period. These grants are subject only to continued employment and are not dependent on future performance measures. Accordingly, if such vesting criteria are not met, compensation cost previously recognized would be reversed. (2) Performance-based awards are earned subject to future performance measurements. Once the performance criteria are achieved and the actual number of shares earned is determined, shares vest over a required service period. The Company considers the likelihood of meeting the performance criteria based upon management's estimates from which it determines the amounts recognized as expense on a periodic basis. (3) Market-based awards are earned dependent upon the Company's total shareholder return in relation to the shareholder return of a NAREIT index over a three-year period. Once the performance criteria are met and the actual number of shares earned is determined, the shares are immediately vested and distributed. The probability of meeting the criteria is considered when calculating the estimated fair value on the date of grant using a Monte Carlo simulation. These awards are accounted for as awards with market criteria, with compensation cost recognized over the service period, regardless of whether the performance criteria are achieved and the awards are ultimately earned. The significant assumptions underlying determination of fair values for market-based awards granted were as follows: Year ended December 31, 2017 2016 2015 Volatility 18.00% 18.50% 17.10% Risk free interest rate 1.48% 0.88% 0.78% (4) The weighted-average grant price for restricted stock granted during the years is summarized below: Year ended December 31, 2017 2016 2015 Weighted-average grant price for restricted stock $ 72.05 $ 79.40 $ 69.80 (5) The total intrinsic value of restricted stock vested during the years is summarized below (in thousands): Year ended December 31, 2017 2016 2015 Intrinsic value of restricted stock vested $ 14,376 $ 15,400 $ 18,600 (6) As of December 31, 2017, there was $14.2 million of unrecognized compensation cost related to non-vested restricted stock granted under the Parent Company's Plan. When recognized, this compensation results in additional paid in capital in the accompanying Consolidated Statements of Equity of the Parent Company and in general partner preferred and common units in the accompanying Consolidated Statements of Capital of the Operating Partnership. This unrecognized compensation cost is expected to be recognized over the next three years. The Company issues new restricted stock from its authorized shares available at the date of grant. |
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block] | The Company recorded stock-based compensation in general and administrative expenses in the accompanying Consolidated Statements of Operations, the components of which are further described below: Year ended December 31, (in thousands) 2017 2016 2015 Restricted stock (1) $ 15,525 13,422 13,869 Directors' fees paid in common stock (1) 303 193 200 Capitalized stock-based compensation (2) (3,210 ) (2,963 ) (2,988 ) Stock based compensation attributable to post-combination service from Equity One merger 7,931 — — Stock-based compensation, net of capitalization $ 20,549 10,652 11,081 (1) Includes amortization of the grant date fair value of restricted stock awards over the respective vesting periods. (2) Includes compensation expense specifically identifiable to development and leasing activities. The Company established its Long Term Omnibus Plan (the "Plan") under which the Board of Directors may grant stock options and other stock-based awards to officers, directors, and other key employees. The Plan allows the Company to issue up to 4.1 million shares in the form of the Parent Company's common stock or stock options. As of December 31, 2017 , there were 2.1 million shares available for grant under the Plan either through stock options or restricted stock. |
Saving and Retirement Plans (Ta
Saving and Retirement Plans (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items] | |
Deferred Compensation Arrangement with Individual Disclosure, Postretirement Benefits [Table Text Block] | The following table reflects the balances of the assets and deferred compensation liabilities of the Rabbi trust in the accompanying Consolidated Balance Sheets: Non Qualified Deferred Compensation Plan Component (1) Year ended December 31, (in thousands) 2017 2016 Assets: Trading securities held in trust (2) $ 31,662 28,588 Liabilities: Accounts payable and other liabilities $ 31,383 28,214 (1) Assets and liabilities of the Rabbi trust are exclusive of the shares of the Company's common stock. (2) Included within Other assets in the accompanying Consolidated Balance Sheets. |
Summary of Significant Accoun46
Summary of Significant Accounting Policies - Organization and Principles of Consolidation (Details) | 12 Months Ended | ||
Dec. 31, 2017USD ($)retail_shopping_centerpropertyshares | Dec. 31, 2016USD ($)shares | Dec. 31, 2015USD ($) | |
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | |||
Concentration Risk, Percentage | 18.00% | ||
Operations Commenced Date | Dec. 31, 1993 | ||
Current Fiscal Year End Date | --12-31 | ||
Document Fiscal Year Focus | 2,017 | ||
Parent Company, Ownership Percentage of Outstanding Common Partnership Units of Operating Partnership | 99.80% | 99.90% | |
General Partners' Capital Account, Units Outstanding | shares | 171,364,908 | 104,497,000 | |
Partners' Capital Account, Units | shares | 171,714,810 | 104,651,000 | |
Maximum Period Of TIme In Which Company Capitalizes Interest Costs | 12 months | ||
Tax Basis of Investments, Unrealized Appreciation (Depreciation), Net | $ 2,800,000,000 | $ 190,300,000 | |
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount | (9,737,000) | 0 | $ 0 |
Parent Company [Member] | |||
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | |||
Restricted Cash and Cash Equivalents | $ 4,011,000 | 4,623,000 | |
Conversion of Stock, Conversion Ratio | 0.45 | ||
Stock Issued During Period, Shares, Acquisitions | shares | 65,500,000 | ||
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount | $ 9,737,000 | ||
Partnership Interest [Member] | |||
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | |||
Restricted Cash and Cash Equivalents | $ 4,011,000 | $ 4,623,000 | |
Wholly Owned Properties [Member] | |||
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | |||
Number of Real Estate Properties | property | 311 | ||
Unconsolidated Properties [Member] | |||
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | |||
Number of Real Estate Properties | property | 115 | ||
Partially Owned Properties [Member] | |||
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | |||
Number of Real Estate Properties | retail_shopping_center | 126 | ||
Consolidated Properties [Member] | |||
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | |||
Number of Real Estate Properties | retail_shopping_center | 11 | ||
Minimum [Member] | |||
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | |||
Equity Method Investment, Accretion Period | 10 years | ||
Maximum [Member] | |||
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | |||
Concentration Risk, Percentage | 5.00% | ||
Equity Method Investment, Accretion Period | 40 years | ||
Building and Improvements [Member] | |||
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | |||
Property, Plant and Equipment, Useful Life | 40 years | ||
Tenant Improvements [Member] | |||
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | |||
Property, Plant and Equipment, Useful Life | 10 years | ||
Furniture and Fixtures [Member] | Minimum [Member] | |||
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | |||
Property, Plant and Equipment, Useful Life | 3 years | ||
Furniture and Fixtures [Member] | Maximum [Member] | |||
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | |||
Property, Plant and Equipment, Useful Life | 7 years |
Summary of Significant Accoun47
Summary of Significant Accounting Policies - Properties in Development (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Property, Plant and Equipment [Line Items] | |||
Document Fiscal Year Focus | 2,017 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | $ 708,259 | ||
Other Cost and Expense, Operating | 1,500 | $ 1,500 | $ 1,700 |
Refundable deposits - development | |||
Property, Plant and Equipment [Line Items] | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | $ 3,500 | $ 1,200 |
Summary of Significant Accoun48
Summary of Significant Accounting Policies Schedule of Variable Interest Entities (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Variable Interest Entity [Line Items] | ||
Current Fiscal Year End Date | --12-31 | |
Variable Interest Entity, Consolidated, Carrying Amount, Liabilities | $ 16,551 | $ 8,175 |
Noncontrolling Interest in Variable Interest Entity | 17,572 | 17,565 |
Real Estate [Member] | ||
Variable Interest Entity [Line Items] | ||
Variable Interest Entity, Consolidated, Carrying Amount, Assets | 172,736 | 86,440 |
Cash and Cash Equivalents [Member] | ||
Variable Interest Entity [Line Items] | ||
Variable Interest Entity, Consolidated, Carrying Amount, Assets | $ 4,993 | $ 3,444 |
Summary of Significant Accoun49
Summary of Significant Accounting Policies Receivables, Trade and Other Accounts Receivalbe, Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Document Fiscal Year Focus | 2,017 | ||
Provision for Doubtful Accounts | $ (8,040) | $ (5,460) | |
Straight Line Rent | 93,284 | 73,384 | |
Tenant Reimbursements | 14,825 | 9,221 | |
Billed Tenant Receivables [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Accounts and Notes Receivable, Net | 25,329 | 15,599 | |
Other Receivable [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Accounts and Notes Receivable, Net | 34,472 | 12,058 | |
Notes Receivable [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Accounts and Notes Receivable, Net | 15,803 | 10,481 | |
straight line rent [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Provision for Doubtful Accounts | (4,688) | (3,561) | |
Parent Company [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Accounts and Notes Receivable, Net | 170,985 | 111,722 | |
Straight Line Rent | 19,004 | 7,219 | $ 8,231 |
Tenant Reimbursements | $ 223,455 | $ 140,611 | $ 125,295 |
Summary of Significant Accoun50
Summary of Significant Accounting Policies Provision for Doubtful Accounts (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Allowance for Doubtful Accounts Receivable, Period Increase (Decrease) | $ 3,992 | $ 1,705 | $ 2,364 |
Provision for Loan and Lease Losses | $ 1,129 | $ 2,271 | $ 714 |
Summary of Significant Accoun51
Summary of Significant Accounting Policies Schedule of Other Current Assets (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Other Current Assets [Line Items] | ||
Document Fiscal Year Focus | 2,017 | |
Goodwill | $ 331,884 | $ 0 |
Investments | 41,636 | 36,008 |
Prepaid Expense and Other Assets | 30,332 | |
Prepaid Expense and Other Assets, Current | 10,386 | |
Derivative Asset | 14,515 | 11,622 |
Property, Plant and Equipment, Net | 6,123 | 4,094 |
Debt Issuance Costs, Net | 2,637 | |
Deferred Finance Costs, Own-share Lending Arrangement, Issuance Costs, Net | 3,557 | |
Parent Company [Member] | ||
Other Current Assets [Line Items] | ||
Other Assets | $ 427,127 | $ 65,667 |
Summary of Significant Accoun52
Summary of Significant Accounting Policies Recent Accounting Pronouncements (Details) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
Accounting Standards Update 2016-09 [Member] | ||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | $ 8,000,000 | |
Accounting Standards Update 2017-05 [Member] | ||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | $ 30,900,000 | |
Salaries expense [Member] | Accounting Standards Update 2016-02 [Member] [Member] | ||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | 10,400,000 | 10,500,000 |
Legal expense [Member] | Accounting Standards Update 2016-02 [Member] [Member] | ||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | $ 1,200,000 | $ 700,000 |
Real Estate Investments (Detail
Real Estate Investments (Details) $ / shares in Units, shares in Thousands | Mar. 01, 2017USD ($)property$ / sharesshares | Dec. 31, 2017USD ($) | Dec. 31, 2017USD ($)shares | Dec. 31, 2016USD ($) |
Business Acquisition [Line Items] | ||||
Payments to Acquire Businesses, Gross | $ 191,384,000 | $ 387,528,000 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities | $ 27,000,000 | $ 27,000,000 | $ 0 | |
Equity One Inc. [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities | $ 1,382,858,000 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | $ 458,554,000 | |||
Stock Issued During Period, Shares, Acquisitions | shares | 65,379 | |||
Business Acquisition, Share Price | $ / shares | $ 68.40 | |||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | $ 4,471,808,000 | |||
Business Combination, Consideration Transferred, Other Cash Payments | 721,297,000 | |||
Business Combination, Consideration Transferred | $ 5,193,105,000 | |||
Number of real estate properties acquired | property | 121 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Land | $ 2,865,053,000 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Buildings | 2,619,553,000 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Properties in Development | 68,744,000 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Properties Held-for-sale | 19,600,000 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Investments in Unconsolidated Properties | 99,666,000 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Real Estate Assets | 5,672,616,000 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets | 112,909,000 | |||
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net | 331,884,000 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets | 6,575,963,000 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt | 757,399,000 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Accounts Payable | 121,798,000 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Liabilities | 503,661,000 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | $ 5,193,105,000 | |||
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustments Related to Previous Period | (601) | |||
The Field at Commonwealth [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Acquisition, Effective Date of Acquisition | Mar. 6, 2017 | |||
Business Acquisition, Name of Acquired Entity | The Field at Commonwealth | |||
Business Acquisition Location, City and State | Chantilly, VA | |||
Business Acquisition, Property type | Development | |||
Payments to Acquire Businesses, Gross | $ 9,500,000 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities | 0 | $ 0 | ||
Pinecrest Place [Member] [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Acquisition, Effective Date of Acquisition | Mar. 8, 2017 | |||
Business Acquisition, Name of Acquired Entity | Pinecrest Place (1) | |||
Business Acquisition Location, City and State | Miami, FL | |||
Business Acquisition, Property type | Development | |||
Payments to Acquire Businesses, Gross | $ 0 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities | 0 | $ 0 | ||
Mellody Farm [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Acquisition, Effective Date of Acquisition | Apr. 13, 2017 | |||
Business Acquisition, Name of Acquired Entity | Mellody Farm (2) | |||
Business Acquisition Location, City and State | Chicago, IL | |||
Business Acquisition, Property type | Development | |||
Payments to Acquire Businesses, Gross | $ 26,200,000 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities | 0 | $ 0 | ||
Concord Outparcel [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Acquisition, Effective Date of Acquisition | Jun. 28, 2017 | |||
Business Acquisition, Name of Acquired Entity | Concord outparcel (3) | |||
Business Acquisition Location, City and State | Miami, FL | |||
Business Acquisition, Property type | Operating | |||
Payments to Acquire Businesses, Gross | $ 350,000 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities | 0 | $ 0 | ||
Aventura Square Outparcel [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Acquisition, Effective Date of Acquisition | Jul. 20, 2017 | |||
Business Acquisition, Name of Acquired Entity | Aventura Square outparcel (4) | |||
Business Acquisition Location, City and State | Miami, FL | |||
Business Acquisition, Property type | Operating | |||
Payments to Acquire Businesses, Gross | $ 1,750,000 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities | 0 | $ 0 | ||
Indigo Square [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Acquisition, Effective Date of Acquisition | Nov. 15, 2017 | |||
Business Acquisition, Name of Acquired Entity | Indigo Square | |||
Business Acquisition Location, City and State | Mount Pleasant, SC | |||
Business Acquisition, Property type | Development | |||
Payments to Acquire Businesses, Gross | $ 3,900,000 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities | 0 | $ 0 | ||
Scripps Ranch Marketplace [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Acquisition, Effective Date of Acquisition | Dec. 21, 2017 | |||
Business Acquisition, Name of Acquired Entity | Scripps Ranch Marketplace | |||
Business Acquisition Location, City and State | San Diego, CA | |||
Business Acquisition, Property type | Operating | |||
Payments to Acquire Businesses, Gross | $ 81,600,000 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities | 27,000,000 | $ 27,000,000 | ||
Roosevelt Square [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Acquisition, Effective Date of Acquisition | Dec. 28, 2017 | |||
Business Acquisition, Name of Acquired Entity | Roosevelt Square | |||
Business Acquisition Location, City and State | Seattle, WA | |||
Business Acquisition, Property type | Operating | |||
Payments to Acquire Businesses, Gross | $ 68,084,000 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities | 0 | 0 | ||
Garden City [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Acquisition, Effective Date of Acquisition | Feb. 22, 2016 | |||
Business Acquisition, Name of Acquired Entity | Garden City Park | |||
Business Acquisition Location, City and State | Garden City Park, NY | |||
Business Acquisition, Property type | Operating | |||
Payments to Acquire Businesses, Gross | $ 17,300,000 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities | $ 0 | |||
The Market at Springwoods Village [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Acquisition, Effective Date of Acquisition | Mar. 4, 2016 | |||
Business Acquisition, Name of Acquired Entity | The Market at Springwoods Village (1) | |||
Business Acquisition Location, City and State | Houston, TX | |||
Business Acquisition, Property type | Development | |||
Payments to Acquire Businesses, Gross | $ 17,994,000 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities | $ 0 | |||
Market Common Clarendon [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Acquisition, Effective Date of Acquisition | May 16, 2016 | |||
Business Acquisition, Name of Acquired Entity | Market Common Clarendon | |||
Business Acquisition Location, City and State | Arlington, VA | |||
Business Acquisition, Property type | Operating | |||
Payments to Acquire Businesses, Gross | $ 280,500,000 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities | $ 0 | |||
Klahanie Shopping Center [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Acquisition, Effective Date of Acquisition | Jul. 15, 2016 | |||
Business Acquisition, Name of Acquired Entity | Klahanie Shopping Center | |||
Business Acquisition Location, City and State | Sammamish, WA | |||
Business Acquisition, Property type | Operating | |||
Payments to Acquire Businesses, Gross | $ 35,988,000 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities | $ 0 | |||
The Village at Tustin Legacy [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Acquisition, Effective Date of Acquisition | Aug. 4, 2016 | |||
Business Acquisition, Name of Acquired Entity | The Village at Tustin Legacy | |||
Business Acquisition Location, City and State | Tustin, CA | |||
Business Acquisition, Property type | Development | |||
Payments to Acquire Businesses, Gross | $ 18,800,000 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities | $ 0 | |||
Nocatee Phase III [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Acquisition, Effective Date of Acquisition | Oct. 26, 2016 | |||
Business Acquisition, Name of Acquired Entity | Nocatee Phase III | |||
Business Acquisition Location, City and State | Jacksonville, FL | |||
Business Acquisition, Property type | Development | |||
Payments to Acquire Businesses, Gross | $ 240,000 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities | $ 0 | |||
Brooklyn Station Phase II [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Acquisition, Effective Date of Acquisition | Oct. 30, 2016 | |||
Business Acquisition, Name of Acquired Entity | Brooklyn Station Phase II | |||
Business Acquisition Location, City and State | Jacksonville, FL | |||
Business Acquisition, Property type | Development | |||
Payments to Acquire Businesses, Gross | $ 50,000 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities | $ 0 | |||
The Village at Riverstone [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Acquisition, Effective Date of Acquisition | Dec. 6, 2016 | |||
Business Acquisition, Name of Acquired Entity | The Village at Riverstone | |||
Business Acquisition Location, City and State | Houston, TX | |||
Business Acquisition, Property type | Development | |||
Payments to Acquire Businesses, Gross | $ 16,656,000 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities | 0 | |||
Partially Owned Properties [Member] | Equity One Inc. [Member] | ||||
Business Acquisition [Line Items] | ||||
Number of real estate properties acquired | property | 8 | |||
Off-Market Favorable Lease [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 8,929,000 | 8,929,000 | 27,863,000 | |
Off-Market Favorable Lease [Member] | The Field at Commonwealth [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 0 | 0 | ||
Off-Market Favorable Lease [Member] | Pinecrest Place [Member] [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 0 | 0 | ||
Off-Market Favorable Lease [Member] | Mellody Farm [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 0 | 0 | ||
Off-Market Favorable Lease [Member] | Concord Outparcel [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 0 | 0 | ||
Off-Market Favorable Lease [Member] | Aventura Square Outparcel [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 90,000 | 90,000 | ||
Off-Market Favorable Lease [Member] | Indigo Square [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 0 | 0 | ||
Off-Market Favorable Lease [Member] | Scripps Ranch Marketplace [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 4,997,000 | 4,997,000 | ||
Off-Market Favorable Lease [Member] | Roosevelt Square [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 3,842,000 | $ 3,842,000 | ||
Off-Market Favorable Lease [Member] | Garden City [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 10,171,000 | |||
Off-Market Favorable Lease [Member] | The Market at Springwoods Village [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 0 | |||
Off-Market Favorable Lease [Member] | Market Common Clarendon [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 15,428,000 | |||
Off-Market Favorable Lease [Member] | Klahanie Shopping Center [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 2,264,000 | |||
Off-Market Favorable Lease [Member] | The Village at Tustin Legacy [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 0 | |||
Off-Market Favorable Lease [Member] | Nocatee Phase III [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 0 | |||
Off-Market Favorable Lease [Member] | Brooklyn Station Phase II [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 0 | |||
Off-Market Favorable Lease [Member] | The Village at Riverstone [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 0 | |||
Parent Company [Member] | ||||
Business Acquisition [Line Items] | ||||
Conversion of Stock, Conversion Ratio | 0.45 | |||
Stock Issued During Period, Shares, Acquisitions | shares | 65,500 | |||
Off-Market Lease, Unfavorable [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 17,562,000 | $ 17,562,000 | 19,141,000 | |
Off-Market Lease, Unfavorable [Member] | The Field at Commonwealth [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 0 | 0 | ||
Off-Market Lease, Unfavorable [Member] | Pinecrest Place [Member] [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 0 | 0 | ||
Off-Market Lease, Unfavorable [Member] | Mellody Farm [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 0 | 0 | ||
Off-Market Lease, Unfavorable [Member] | Concord Outparcel [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 0 | 0 | ||
Off-Market Lease, Unfavorable [Member] | Aventura Square Outparcel [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 9,000 | 9,000 | ||
Off-Market Lease, Unfavorable [Member] | Indigo Square [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 0 | 0 | ||
Off-Market Lease, Unfavorable [Member] | Scripps Ranch Marketplace [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 9,551,000 | 9,551,000 | ||
Off-Market Lease, Unfavorable [Member] | Roosevelt Square [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 8,002,000 | $ 8,002,000 | ||
Off-Market Lease, Unfavorable [Member] | Garden City [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 2,940,000 | |||
Off-Market Lease, Unfavorable [Member] | The Market at Springwoods Village [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 0 | |||
Off-Market Lease, Unfavorable [Member] | Market Common Clarendon [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 15,662,000 | |||
Off-Market Lease, Unfavorable [Member] | Klahanie Shopping Center [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 539,000 | |||
Off-Market Lease, Unfavorable [Member] | The Village at Tustin Legacy [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 0 | |||
Off-Market Lease, Unfavorable [Member] | Nocatee Phase III [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 0 | |||
Off-Market Lease, Unfavorable [Member] | Brooklyn Station Phase II [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 0 | |||
Off-Market Lease, Unfavorable [Member] | The Village at Riverstone [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | $ 0 | |||
Minimum rent [Member] | Equity One Inc. [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustments Related to Previous Period | (2,386) | |||
Depreciation and Amortization [Member] | Equity One Inc. [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustments Related to Previous Period | 1,435 | |||
Operating Expense [Member] | Equity One Inc. [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustments Related to Previous Period | $ 350 |
Real Estate Investments Proform
Real Estate Investments Proforma (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Business Acquisition, Pro Forma Information [Line Items] | ||
Business Combination, Separately Recognized Transactions, Additional Disclosures, Acquisition Cost Expensed | $ 80,700 | $ 6,500 |
Document Fiscal Year Focus | 2,017 | |
Business Acquisition, Pro Forma Revenue | $ 1,052,221 | 1,006,367 |
Business Acquisition, Pro Forma Income (Loss) from Continuing Operations, Net of Tax | 281,393 | 63,907 |
Business Acquisition, Pro Forma Net Income (Loss) | $ 262,270 | $ 40,868 |
Business Acquisition, Pro Forma Earnings Per Share, Basic | $ 0.0154 | $ 0.0025 |
Business Acquisition, Pro Forma Earnings Per Share, Diluted | $ 0.0154 | $ 0.0025 |
Equity One Inc. [Member] | ||
Business Acquisition, Pro Forma Information [Line Items] | ||
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual | $ 337,761 | |
Business Combination, Pro Forma Information, Expenses of Acquiree since Acquisition Date, Actual | $ 81,766 |
Real Estate Investments Schedul
Real Estate Investments Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination (Details) - Equity One Inc. [Member] | Mar. 01, 2017 |
Leases, Acquired-in-Place [Member] | |
Acquired Finite-Lived Intangible Assets [Line Items] | |
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 11 years 3 months 4 days |
Above Market Leases [Member] | |
Acquired Finite-Lived Intangible Assets [Line Items] | |
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 7 years 10 months 28 days |
Below Market Ground Rent Lease [Member] [Member] | |
Acquired Finite-Lived Intangible Assets [Line Items] | |
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 55 years 3 months 18 days |
Acquired Lease Intangible Liabilities [Member] | |
Acquired Finite-Lived Intangible Assets [Line Items] | |
Weighted Average Accretion Period of Intangible Liabilities | 25 years 9 months 7 days |
Dispositions (Details)
Dispositions (Details) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017USD ($)property | Dec. 31, 2016USD ($)property | Dec. 31, 2015USD ($)property | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Document Fiscal Year Focus | 2,017 | ||
Proceeds from sale of real estate investments | $ 137,479 | $ 108,822 | |
Gain (Loss) on Sale of Properties, Net of Applicable Income Taxes | $ 27,432 | 47,321 | 35,606 |
Provision for impairment | $ 0 | $ 1,700 | $ 0 |
Operating Segments [Member] | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Number of Real Estate Properties Sold | property | 6 | 11 | 5 |
Land [Member] | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Number of Real Estate Properties Sold | property | 9 | 16 | 2 |
Investments in Real Estate Pa57
Investments in Real Estate Partnerships - Schedule of Investments in Real Estate Partnerships (Details) ratio in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017USD ($)property | Dec. 31, 2016USD ($)property | Dec. 31, 2015USD ($) | |
Schedule of Equity Method Investments [Line Items] | |||
Current Fiscal Year End Date | --12-31 | ||
Real Estate Partnerships, Number of Properties | property | 115 | 109 | |
Investments in real estate partnerships | $ 386,304 | $ 296,699 | |
Total Assets of the Partnership | 2,885,720 | 2,608,742 | |
Net Income (Loss) of the Partnership | 139,958 | 161,047 | $ 60,748 |
Income (Loss) from Equity Method Investments | $ 43,341 | $ 56,518 | $ 22,508 |
GRI - Regency, LLC [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Ownership Percentage | 0.00% | 0.00% | |
Real Estate Partnerships, Number of Properties | property | 70 | 70 | |
Investments in real estate partnerships | $ 198,521 | $ 201,240 | |
Total Assets of the Partnership | 1,656,068 | 1,676,134 | |
Net Income (Loss) of the Partnership | 69,211 | 74,758 | |
Income (Loss) from Equity Method Investments | $ 27,440 | $ 29,791 | |
Equity One JV Portfolio, LLC [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Ownership Percentage | 0.00% | ||
Real Estate Partnerships, Number of Properties | property | 6 | ||
Investments in real estate partnerships | $ 53,277 | ||
Total Assets of the Partnership | 284,412 | ||
Net Income (Loss) of the Partnership | 2,757 | ||
Income (Loss) from Equity Method Investments | $ 686 | ||
Columbia Regency Retail Partners, LLC [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Ownership Percentage | 0.00% | 0.00% | |
Real Estate Partnerships, Number of Properties | property | 6 | 7 | |
Investments in real estate partnerships | $ 7,057 | $ 9,687 | |
Total Assets of the Partnership | 130,836 | 145,192 | |
Net Income (Loss) of the Partnership | 18,233 | 21,024 | |
Income (Loss) from Equity Method Investments | $ 3,620 | $ 4,180 | |
Columbia Regency Partners II, LLC [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Ownership Percentage | 0.00% | 0.00% | |
Real Estate Partnerships, Number of Properties | property | 12 | 12 | |
Investments in real estate partnerships | $ 13,720 | $ 14,750 | |
Total Assets of the Partnership | 329,992 | 338,307 | |
Net Income (Loss) of the Partnership | 7,690 | 16,765 | |
Income (Loss) from Equity Method Investments | $ 1,530 | $ 3,240 | |
Cameron Village, LLC [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Ownership Percentage | 0.00% | 0.00% | |
Real Estate Partnerships, Number of Properties | property | 1 | 1 | |
Investments in real estate partnerships | $ 11,784 | $ 11,877 | |
Total Assets of the Partnership | 99,808 | 99,967 | |
Net Income (Loss) of the Partnership | 2,917 | 2,326 | |
Income (Loss) from Equity Method Investments | $ 850 | $ 695 | |
RegCal, LLC [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Ownership Percentage | 0.00% | 0.00% | |
Real Estate Partnerships, Number of Properties | property | 7 | 7 | |
Investments in real estate partnerships | $ 27,829 | $ 21,516 | |
Total Assets of the Partnership | 138,717 | 141,827 | |
Net Income (Loss) of the Partnership | 5,613 | 4,358 | |
Income (Loss) from Equity Method Investments | $ 1,403 | $ 1,080 | |
US Regency Retail 1, LLC [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Ownership Percentage | 0.00% | 0.00% | |
Real Estate Partnerships, Number of Properties | property | 7 | 8 | |
Investments in real estate partnerships | $ 0 | $ 13,176 | |
Total Assets of the Partnership | 90,900 | 109,665 | |
Net Income (Loss) of the Partnership | 22,299 | 5,901 | |
Income (Loss) from Equity Method Investments | $ 4,456 | $ 1,180 | |
Other Investments in Real Estate Partnerships [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Ownership Percentage | 0.00% | 0.00% | |
Real Estate Partnerships, Number of Properties | 0 | 0 | |
Investments in real estate partnerships | $ 74,116 | $ 24,453 | |
Total Assets of the Partnership | 154,987 | 97,650 | |
Net Income (Loss) of the Partnership | 11,238 | 35,915 | |
Income (Loss) from Equity Method Investments | $ 3,356 | $ 16,352 |
Investments in Real Estate Pa58
Investments in Real Estate Partnerships - Balance Sheet Summarized Financial Information (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Schedule of Equity Method Investments [Line Items] | ||
Document Fiscal Year Focus | 2,017 | |
Investment in real estate, net | $ 2,682,578 | $ 2,439,110 |
Acquired lease intangible assets, net | 54,021 | 42,974 |
Other assets | 149,121 | 126,658 |
Total assets | 2,885,720 | 2,608,742 |
Notes payable | 1,514,729 | 1,309,931 |
Acquired lease intangible liabilities, net | 42,466 | 29,678 |
Other liabilities | 70,498 | 64,979 |
Capital - Regency | 445,068 | 405,722 |
Capital - Third parties | 812,959 | 798,432 |
Total liabilities and capital | 2,885,720 | 2,608,742 |
Investments in real estate partnerships (note 4) | 386,304 | 296,699 |
Impairment Losses Related to Real Estate Partnerships | (1,300) | (1,300) |
Equity Method Investment, Difference Between Carrying Amount and Underlying Equity | (30,902) | |
Equity Method Summarized Financial Information, Net Book Equity in Excess of Purchase Price | (78,203) | (78,203) |
US Regency Retail 1, LLC [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
Total assets | 90,900 | 109,665 |
Investments in real estate partnerships (note 4) | 0 | 13,176 |
Basis Difference [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
Equity Method Investment, Difference Between Carrying Amount and Underlying Equity | 40,351 | 1,382 |
Restricted Gain Method Deferral [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
Equity Method Investment, Difference Between Carrying Amount and Underlying Equity | (30,902) | |
Other Liabilities [Member] | US Regency Retail 1, LLC [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
Investments in real estate partnerships (note 4) | $ 11,290 | $ 0 |
Investments in Real Estate Pa59
Investments in Real Estate Partnerships - Income Statment Summarized Financial Information (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Schedule of Equity Method Investments [Line Items] | |||
Document Fiscal Year Focus | 2,017 | ||
Revenues and expenses for the investments in real estate partnerships on a combined basis | |||
Total revenues | $ 396,596 | $ 364,087 | $ 363,745 |
Operating expenses: | |||
Depreciation and amortization | 99,327 | 99,252 | 111,648 |
Operating and maintenance | 58,283 | 52,725 | 51,970 |
General and administrative | 5,582 | 5,342 | 5,292 |
Real estate taxes | 49,904 | 42,813 | 43,769 |
Other expenses | 2,923 | 2,356 | 2,989 |
Total operating expenses | 216,019 | 202,488 | 215,668 |
Other expense (income): | |||
Interest expense, net | 73,244 | 69,193 | 79,477 |
Equity Method Investment, Summarized Financial Information, Gain Loss on Sale of Real Estate | 34,276 | 70,907 | 2,766 |
Provision for impairment | 0 | 0 | 9,102 |
Loss (gain) on extinguishment of debt | 0 | 69 | 0 |
Other expense (income) | 1,651 | 2,197 | 1,516 |
Total other expense | 40,619 | 552 | 87,329 |
Net income (loss) | 139,958 | 161,047 | 60,748 |
Unconsolidated Properties [Member] | |||
Other expense (income): | |||
Income (Loss) from Equity Method Investments | $ 34,276 | $ 70,907 | $ 2,766 |
Investments in Real Estate Pa60
Investments in Real Estate Partnerships - Schedule of Acquisitions by Real Estate Partnerships (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Business Acquisition [Line Items] | ||
Payments to Acquire Businesses, Gross | $ 191,384,000 | $ 387,528,000 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities | 27,000,000 | 0 |
Unconsolidated Properties [Member] | ||
Business Acquisition [Line Items] | ||
Payments to Acquire Businesses, Gross | 15,075,000 | 92,550,000 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities | $ 0 | $ 35,076,000 |
Unconsolidated Properties [Member] | Midtown East [Member] | ||
Business Acquisition [Line Items] | ||
Business Acquisition, Effective Date of Acquisition | Oct. 11, 2017 | |
Business Acquisition, Name of Acquired Entity | Midtown East | |
Business Acquisition Location, City and State | Raleigh, NC | |
Business Acquisition, Description of Acquired Entity | Development | |
Business Acquisition, Co-investment Partner | ITB Holdings, LLC | |
Equity Method Investment, Ownership Percentage | 50.00% | |
Payments to Acquire Businesses, Gross | $ 15,075,000 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities | 0 | |
Unconsolidated Properties [Member] | Applewood Village [Member] | ||
Business Acquisition [Line Items] | ||
Business Acquisition, Effective Date of Acquisition | Mar. 24, 2016 | |
Business Acquisition, Name of Acquired Entity | Applewood Village Shops | |
Business Acquisition Location, City and State | Denver, CO | |
Business Acquisition, Description of Acquired Entity | Operating (1) | |
Business Acquisition, Co-investment Partner | GRIR | |
Equity Method Investment, Ownership Percentage | 40.00% | |
Payments to Acquire Businesses, Gross | $ 200,000 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities | $ 0 | |
Unconsolidated Properties [Member] | Garden City [Member] | ||
Business Acquisition [Line Items] | ||
Business Acquisition, Effective Date of Acquisition | Dec. 20, 2016 | |
Business Acquisition, Name of Acquired Entity | Plaza Venezia | |
Business Acquisition Location, City and State | Orlando, FL | |
Business Acquisition, Description of Acquired Entity | Operating | |
Business Acquisition, Co-investment Partner | Columbia II | |
Equity Method Investment, Ownership Percentage | 20.00% | |
Payments to Acquire Businesses, Gross | $ 92,350,000 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities | 35,076,000 | |
Off-Market Favorable Lease [Member] | ||
Business Acquisition [Line Items] | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 8,929,000 | 27,863,000 |
Off-Market Favorable Lease [Member] | Unconsolidated Properties [Member] | ||
Business Acquisition [Line Items] | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 0 | 6,899,000 |
Off-Market Favorable Lease [Member] | Unconsolidated Properties [Member] | Midtown East [Member] | ||
Business Acquisition [Line Items] | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 0 | |
Off-Market Favorable Lease [Member] | Unconsolidated Properties [Member] | Applewood Village [Member] | ||
Business Acquisition [Line Items] | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 0 | |
Off-Market Favorable Lease [Member] | Unconsolidated Properties [Member] | Garden City [Member] | ||
Business Acquisition [Line Items] | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 6,899,000 | |
Off-Market Lease, Unfavorable [Member] | ||
Business Acquisition [Line Items] | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 17,562,000 | 19,141,000 |
Off-Market Lease, Unfavorable [Member] | Unconsolidated Properties [Member] | ||
Business Acquisition [Line Items] | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 0 | 11,548,000 |
Off-Market Lease, Unfavorable [Member] | Unconsolidated Properties [Member] | Midtown East [Member] | ||
Business Acquisition [Line Items] | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | $ 0 | |
Off-Market Lease, Unfavorable [Member] | Unconsolidated Properties [Member] | Applewood Village [Member] | ||
Business Acquisition [Line Items] | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 0 | |
Off-Market Lease, Unfavorable [Member] | Unconsolidated Properties [Member] | Garden City [Member] | ||
Business Acquisition [Line Items] | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | $ 11,548,000 |
Investments in Real Estate Pa61
Investments in Real Estate Partnerships - Schedule of Dispositions (Details) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017USD ($)property | Dec. 31, 2016USD ($)property | Dec. 31, 2015USD ($)property | |
Unconsolidated Properties [Member] | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Proceeds from Sale of Equity Method Investments | $ | $ 73,122 | $ 174,090 | $ 39,459 |
Equity Method Investment, Realized Gain (Loss) on Disposal | $ | 34,276 | 70,907 | 2,766 |
Equity Method Investment, Realized Gain (Loss) on Disposal, Parent Company's Share | $ | $ 6,591 | $ 25,003 | $ 1,108 |
Operating Segments [Member] | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Number of Real Estate Properties Sold | 6 | 11 | 5 |
Operating Segments [Member] | Unconsolidated Properties [Member] | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Number of Real Estate Properties Sold | 3 | 10 | 2 |
Land [Member] | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Number of Real Estate Properties Sold | 9 | 16 | 2 |
Land [Member] | Unconsolidated Properties [Member] | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Number of Real Estate Properties Sold | 1 | 1 | 0 |
Investments in Real Estate Pa62
Investments in Real Estate Partnerships - Scheduled Principal Payments (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Schedule of Equity Method Investments [Line Items] | ||
2,017 | $ 122,867 | |
2,018 | 91,147 | |
2,019 | 539,702 | |
2,020 | 328,177 | |
2,021 | 582,466 | |
Beyond 5 Years | 1,947,384 | |
Unamortized debt discounts (premiums) | (16,766) | |
Long-term Debt | 3,594,977 | $ 1,642,420 |
Mortgages [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
Long-term Debt | 520,193 | 384,786 |
Mortgages [Member] | Scheduled Principal Payments [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
2,017 | 10,641 | |
2,018 | 9,360 | |
2,019 | 11,122 | |
2,020 | 11,426 | |
2,021 | 11,618 | |
Beyond 5 Years | 37,056 | |
Unamortized debt discounts (premiums) | 0 | |
Long-term Debt | 91,223 | |
Mortgages [Member] | Mortgage Loan Maturities [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
2,017 | 112,226 | |
2,018 | 21,787 | |
2,019 | 78,580 | |
2,020 | 66,751 | |
2,021 | 5,848 | |
Beyond 5 Years | 260,328 | |
Unamortized debt discounts (premiums) | 9,316 | |
Long-term Debt | 554,836 | |
Unsecured Debt [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
Long-term Debt | 2,325,656 | $ 892,170 |
Unsecured Debt [Member] | Unsecured Maturities [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
2,017 | 0 | |
2,018 | 60,000 | |
2,019 | 450,000 | |
2,020 | 250,000 | |
2,021 | 565,000 | |
Beyond 5 Years | 1,650,000 | |
Unamortized debt discounts (premiums) | (26,082) | |
Long-term Debt | 2,948,918 | |
Unconsolidated Investments in Partnership [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
2,017 | 51,081 | |
2,018 | 93,111 | |
2,019 | 260,548 | |
2,020 | 280,760 | |
2,021 | 203,271 | |
Beyond 5 Years | 636,309 | |
Unamortized debt discounts (premiums) | (10,351) | |
Long-term Debt | 1,514,729 | |
Unconsolidated Investments in Partnership [Member] | Mortgages [Member] | Scheduled Principal Payments [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
2,017 | 21,059 | |
2,018 | 19,852 | |
2,019 | 16,823 | |
2,020 | 10,818 | |
2,021 | 7,569 | |
Beyond 5 Years | 3,011 | |
Unamortized debt discounts (premiums) | 0 | |
Long-term Debt | 79,132 | |
Unconsolidated Investments in Partnership [Member] | Mortgages [Member] | Mortgage Loan Maturities [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
2,017 | 30,022 | |
2,018 | 73,259 | |
2,019 | 224,090 | |
2,020 | 269,942 | |
2,021 | 195,702 | |
Beyond 5 Years | 633,298 | |
Unamortized debt discounts (premiums) | (10,351) | |
Long-term Debt | 1,415,962 | |
Unconsolidated Investments in Partnership [Member] | Unsecured Debt [Member] | Unsecured Maturities [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
2,017 | 0 | |
2,018 | 0 | |
2,019 | 19,635 | |
2,020 | 0 | |
2,021 | 0 | |
Beyond 5 Years | 0 | |
Unamortized debt discounts (premiums) | 0 | |
Long-term Debt | 19,635 | |
Unconsolidated Investments in Partnership, Pro-Rata Share [Member] [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
2,017 | 19,647 | |
2,018 | 24,448 | |
2,019 | 91,039 | |
2,020 | 100,402 | |
2,021 | 73,369 | |
Beyond 5 Years | 215,071 | |
Unamortized debt discounts (premiums) | (3,365) | |
Long-term Debt | $ 520,611 |
Investments in Real Estate Pa63
Investments in Real Estate Partnerships - Related Party Revenue (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Related Party Transaction [Line Items] | |||
Document Fiscal Year Focus | 2,017 | ||
Revenue from Related Parties | $ 25,260 | $ 24,595 | $ 24,519 |
Acquired Leases Intangibles (De
Acquired Leases Intangibles (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Finite-Lived Intangible Assets [Line Items] | |||
Finite-Lived Intangible Assets, Gross | $ 627,106 | $ 175,526 | |
Accumulated amortization | (148,280) | (56,695) | |
Acquired lease intangible assets, net of amortization | 478,826 | 118,831 | |
Finite LIved Intangible Liabilities | 593,951 | 77,718 | |
Finite-Lived Intangible Liabilities, Accumulated Accretion | (56,550) | (23,538) | |
Finite-Lived Intangible Assets, Amortization Expense | 99,613 | 14,386 | $ 11,442 |
Acquired lease intangible liability accretion | 34,922 | 6,994 | 4,155 |
Off-Market Lease, Unfavorable [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Finite Lived Intangible Liabilities, Gross | 588,850 | 71,996 | |
Acquired lease intangible liability accretion | 34,786 | 6,827 | 3,940 |
Above Market Ground Rent Lease [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Finite Lived Intangible Liabilities, Gross | 5,101 | 5,722 | |
Above Market Leases [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Acquired lease intangible liability accretion | 136 | 167 | 215 |
In-place leases, net | |||
Finite-Lived Intangible Assets [Line Items] | |||
Finite-Lived Intangible Assets, Gross | 470,315 | 96,178 | |
Finite-Lived Intangible Assets, Amortization Expense | 88,284 | 11,533 | 9,141 |
Above Market Leases [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Finite-Lived Intangible Assets, Gross | 64,625 | 14,684 | |
Finite-Lived Intangible Assets, Amortization Expense | 9,443 | 1,742 | 1,950 |
Above-market ground leases, net | |||
Finite-Lived Intangible Assets [Line Items] | |||
Finite-Lived Intangible Assets, Gross | 92,166 | 64,664 | |
Finite-Lived Intangible Assets, Amortization Expense | 1,886 | 1,111 | $ 351 |
Partnership Interest [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Accumulated amortization | 148,546 | 56,694 | |
Acquired lease intangible assets, net of amortization | 478,826 | 118,831 | |
Off-market Lease, Unfavorable | $ 537,401 | $ 54,180 |
Acquired Lease Intangibles Sche
Acquired Lease Intangibles Schedule of Future Amortization Expense and Minimum Rent (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2017USD ($) | |
Amortization Expense [Abstract] | |
2,016 | $ 72,769 |
Future Accretion, Year Two | 28,754 |
2,017 | 54,743 |
Future Accretion, Year Three | 27,710 |
2,018 | 41,211 |
Future Accretion, Year Four | 27,106 |
2,019 | 32,893 |
Future Accretion, Year Five | 25,440 |
2,020 | 25,202 |
Net Accretion [Abstract] | |
2,016 | 29,654 |
Above/Below Market Ground Lease [Member] | |
Amortization Expense [Abstract] | |
2,016 | 1,560 |
2,017 | 1,550 |
2,018 | 1,544 |
2,019 | 1,545 |
2,020 | $ 1,555 |
Income Taxes - Tax Status of Di
Income Taxes - Tax Status of Dividends (Details) - $ / shares | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Schedule of Tax Status of Dividends [Line Items] | |||
Document Fiscal Year Focus | 2,017 | ||
Ordinary income | 86.00% | 53.00% | 71.00% |
Capital gain | 10.00% | 8.00% | 5.00% |
Return of capital | 4.00% | 39.00% | 19.00% |
Allocation of Dividends, Qualified Dividend Income | 0.00% | 0.00% | 5.00% |
Parent Company [Member] | |||
Schedule of Tax Status of Dividends [Line Items] | |||
Dividend per share | $ 2.10 | $ 2 | $ 1.94 |
Income Taxes - Tax Reconciliati
Income Taxes - Tax Reconciliation (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Schedule of Income Tax Rate Reconciliation [Line Items] | |||
Document Fiscal Year Focus | 2,017 | ||
Computed expected tax expense (benefit) | $ 1,190,000 | $ 933,000 | $ 1,730,000 |
State income tax, net of federal benefit | 108,000 | 56,000 | 224,000 |
Valuation allowance | (1,512,000) | (1,239,000) | (3,556,000) |
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount | (9,737,000) | 0 | 0 |
All other items | 304,000 | 97,000 | (2,000) |
Federal Income Tax Expense (Benefit), Continuing Operations | $ (9,647,000) | $ (153,000) | $ (1,604,000) |
Income Taxes - Deferred Taxes (
Income Taxes - Deferred Taxes (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Deferred Tax Assets, Net [Abstract] | ||
Investments in real estate partnerships | $ 0 | $ 361 |
Provision for impairment | 3,785 | 5,827 |
Deferred interest expense | 2,754 | 2,714 |
Capitalized costs under Section 263A | (729) | (1,145) |
Operating Loss Carryforwards | 373 | 0 |
Employee benefits | 0 | 44 |
Other | 2,297 | 3,059 |
Deferred tax assets | 9,938 | 13,150 |
Valuation allowance | (8,300) | (12,507) |
Deferred tax assets, net | 1,638 | 643 |
Deferred Tax Liabilities, Net [Abstract] | ||
Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Deferred Rent | (528) | (643) |
Fixed assets | (19,757) | 0 |
Deferred Tax Liabilities, Other | (7) | 0 |
Deferred tax liabilities | 20,292 | 643 |
Net deferred tax liabilities | $ (18,654) | $ 0 |
Income Taxes Income Taxes - Inc
Income Taxes Income Taxes - Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Schedule of Components of Income Tax Expense (Benefit) [Line Items] | |||
Current Income Tax Expense (Benefit) | $ 1,168 | $ (153) | $ (1,604) |
Deferred Income Tax Expense (Benefit) | (10,815) | 0 | 0 |
Federal Income Tax Expense (Benefit), Continuing Operations | $ (9,647) | $ (153) | $ (1,604) |
Notes Payable and Unsecured C70
Notes Payable and Unsecured Credit Facilities (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Debt Instrument [Line Items] | ||
Long-term Debt | $ 3,594,977 | $ 1,642,420 |
Maturities of Long-term Debt [Abstract] | ||
2,017 | 122,867 | |
2,018 | 91,147 | |
2,019 | 539,702 | |
2,020 | 328,177 | |
2,021 | 582,466 | |
Beyond 5 Years | 1,947,384 | |
Unamortized debt discounts (premiums) | (16,766) | |
Line of Credit [Member] | ||
Debt Instrument [Line Items] | ||
Line of Credit Facility, Maximum Borrowing Capacity | 1,000,000 | |
Line of Credit Facility, Remaining Borrowing Capacity | $ 930,600 | |
Debt Instrument, Maturity Date | May 13, 2019 | |
Line of Credit Facility, Interest Rate Description | LIBOR plus 0.925% | |
Line of Credit Facility, Annual Fee Description | 75 | |
Revolving Credit Facility [Member] | 265M Term Loan [Member] | ||
Debt Instrument [Line Items] | ||
Unsecured credit facilities - maximum borrowing capacity | $ 265,000 | |
Debt Instrument, Unused Borrowing Capacity, Amount | $ 0 | |
Debt Instrument, Maturity Date | Jan. 5, 2022 | |
Debt Instrument, Interest Rate Terms | LIBOR plus 0.95% | |
Line of Credit Facility, Annual Fee Description | 35 | |
Revolving Credit Facility [Member] | 300M Term Loan [Member] | ||
Debt Instrument [Line Items] | ||
Unsecured credit facilities - maximum borrowing capacity | $ 300,000 | |
Debt Instrument, Unused Borrowing Capacity, Amount | $ 0 | |
Debt Instrument, Maturity Date | Dec. 2, 2020 | |
Debt Instrument, Interest Rate Terms | LIBOR plus 0.95% | |
Line of Credit Facility, Annual Fee Description | 35 | |
Contractual Rate [Member] | Line of Credit [Member] | ||
Debt Instrument [Line Items] | ||
Debt, Weighted Average Interest Rate | 2.12% | |
Contractual Rate [Member] | Revolving Credit Facility [Member] | 265M Term Loan [Member] | ||
Debt Instrument [Line Items] | ||
Debt, Weighted Average Interest Rate | 2.00% | |
Contractual Rate [Member] | Revolving Credit Facility [Member] | 300M Term Loan [Member] | ||
Debt Instrument [Line Items] | ||
Debt, Weighted Average Interest Rate | 2.77% | |
Effective Rate [Member] | Line of Credit [Member] | ||
Debt Instrument [Line Items] | ||
Debt, Weighted Average Interest Rate | 2.30% | |
Effective Rate [Member] | Revolving Credit Facility [Member] | 265M Term Loan [Member] | ||
Debt Instrument [Line Items] | ||
Debt, Weighted Average Interest Rate | 2.20% | |
Effective Rate [Member] | Revolving Credit Facility [Member] | 300M Term Loan [Member] | ||
Debt Instrument [Line Items] | ||
Debt, Weighted Average Interest Rate | 2.80% | |
Mortgages [Member] | ||
Debt Instrument [Line Items] | ||
Long-term Debt | $ 520,193 | 384,786 |
Mortgages [Member] | Scheduled Principal Payments [Member] | ||
Debt Instrument [Line Items] | ||
Long-term Debt | 91,223 | |
Maturities of Long-term Debt [Abstract] | ||
2,017 | 10,641 | |
2,018 | 9,360 | |
2,019 | 11,122 | |
2,020 | 11,426 | |
2,021 | 11,618 | |
Beyond 5 Years | 37,056 | |
Unamortized debt discounts (premiums) | 0 | |
Mortgages [Member] | Mortgage Loan Maturities [Member] | ||
Debt Instrument [Line Items] | ||
Long-term Debt | 554,836 | |
Maturities of Long-term Debt [Abstract] | ||
2,017 | 112,226 | |
2,018 | 21,787 | |
2,019 | 78,580 | |
2,020 | 66,751 | |
2,021 | 5,848 | |
Beyond 5 Years | 260,328 | |
Unamortized debt discounts (premiums) | 9,316 | |
Mortgages [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||
Debt Instrument [Line Items] | ||
Long-term Debt | $ 125,866 | 86,969 |
Mortgages [Member] | Contractual Rate [Member] | ||
Debt Instrument [Line Items] | ||
Debt, Weighted Average Interest Rate | 4.77% | |
Mortgages [Member] | Effective Rate [Member] | ||
Debt Instrument [Line Items] | ||
Debt, Weighted Average Interest Rate | 4.23% | |
Notes Payable to Banks [Member] | ||
Debt Instrument [Line Items] | ||
Long-term Debt | $ 2,971,715 | 1,363,925 |
Unsecured Debt [Member] | ||
Debt Instrument [Line Items] | ||
Long-term Debt | 2,325,656 | 892,170 |
Long-term Line of Credit | 623,262 | 278,495 |
Unsecured Debt [Member] | Unsecured Maturities [Member] | ||
Debt Instrument [Line Items] | ||
Long-term Debt | 2,948,918 | |
Maturities of Long-term Debt [Abstract] | ||
2,017 | 0 | |
2,018 | 60,000 | |
2,019 | 450,000 | |
2,020 | 250,000 | |
2,021 | 565,000 | |
Beyond 5 Years | 1,650,000 | |
Unamortized debt discounts (premiums) | (26,082) | |
Unsecured Debt [Member] | Line of Credit [Member] | ||
Debt Instrument [Line Items] | ||
Long-term Line of Credit | 60,000 | 15,000 |
Unsecured Debt [Member] | Revolving Credit Facility [Member] | ||
Debt Instrument [Line Items] | ||
Long-term Line of Credit | $ 563,262 | $ 263,495 |
Unsecured Debt [Member] | Contractual Rate [Member] | ||
Debt Instrument [Line Items] | ||
Debt, Weighted Average Interest Rate | 4.57% | |
Unsecured Debt [Member] | Effective Rate [Member] | ||
Debt Instrument [Line Items] | ||
Debt, Weighted Average Interest Rate | 4.11% | |
Minimum [Member] | Secured Debt [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate During Period | 2.39% | |
Minimum [Member] | Unsecured Debt [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate During Period | 3.60% | |
Maximum [Member] | Secured Debt [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate During Period | 8.00% | |
Maximum [Member] | Unsecured Debt [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate During Period | 6.00% |
Derivative Financial Instrume71
Derivative Financial Instruments - Fair Value of Derivatives (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Derivatives, Fair Value [Line Items] | ||
Document Fiscal Year Focus | 2,017 | |
Derivative @ 1.824% 300M [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative, Inception Date | Apr. 3, 2017 | |
Derivative, Maturity Date | Dec. 2, 2020 | |
Derivative, Notional Amount | $ 300,000 | |
Derivative, Underlying Basis | 1 Month LIBOR with Floor | |
Derivative, Fixed Interest Rate | 1.824% | |
Interest Rate Cash Flow Hedge Asset at Fair Value | $ 1,804 | $ 0 |
Derivative @ 1.053% 265M [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative, Inception Date | Aug. 1, 2016 | |
Derivative, Maturity Date | Jan. 5, 2022 | |
Derivative, Notional Amount | $ 265,000 | |
Derivative, Underlying Basis | 1 Month LIBOR with Floor | |
Derivative, Fixed Interest Rate | 1.053% | |
Interest Rate Cash Flow Hedge Asset at Fair Value | $ 10,744 | 9,889 |
Derivative @ 1.30250% 20.0M [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative, Inception Date | Apr. 7, 2016 | |
Derivative, Maturity Date | Apr. 1, 2023 | |
Derivative, Notional Amount | $ 20,000 | |
Derivative, Underlying Basis | 1 Month LIBOR | |
Derivative, Fixed Interest Rate | 1.3025% | |
Interest Rate Cash Flow Hedge Asset at Fair Value | $ 801 | 720 |
Derivative @ 1.490% 33.0M [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative, Inception Date | Dec. 1, 2016 | |
Derivative, Maturity Date | Nov. 1, 2023 | |
Derivative, Notional Amount | $ 33,000 | |
Derivative, Underlying Basis | 1 Month LIBOR | |
Derivative, Fixed Interest Rate | 1.49% | |
Interest Rate Cash Flow Hedge Asset at Fair Value | $ 1,166 | 1,013 |
Derivative @ 2.36600% 37.5K [Member] [Domain] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative, Inception Date | Jun. 2, 2017 | |
Derivative, Maturity Date | Jun. 2, 2027 | |
Derivative, Notional Amount | $ 37,500 | |
Derivative, Underlying Basis | 1 Month LIBOR with Floor | |
Derivative, Fixed Interest Rate | 2.366% | |
Interest Rate Cash Flow Hedge Liability at Fair Value | $ (177) | (580) |
Fair Value, Measurements, Recurring [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Interest Rate Cash Flow Hedge Asset at Fair Value | 14,515 | 11,622 |
Interest Rate Cash Flow Hedge Liability at Fair Value | (177) | (580) |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Interest Rate Cash Flow Hedge Asset at Fair Value | 14,515 | 11,622 |
Interest Rate Cash Flow Hedge Liability at Fair Value | (177) | (580) |
Interest Rate Cash Flow Hedge Derivative at Fair Value, Net | $ (14,338) | $ 11,042 |
Derivative Financial Instrume72
Derivative Financial Instruments - Derivative Gains (Losses) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Derivative Instruments, Gain (Loss) [Line Items] | |||
Document Fiscal Year Focus | 2,017 | ||
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net | $ 1,151 | $ (10,332) | $ (10,089) |
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net | (11,103) | (51,139) | (9,152) |
Derivative Instruments, Gain (Loss) Recognized in Income, Ineffective Portion and Amount Excluded from Effectiveness Testing, Net | $ 0 | $ (40,586) | $ 0 |
Derivative Financial Instrume73
Derivative Financial Instruments - Additional Information (Details) - USD ($) | Jul. 15, 2016 | Jul. 14, 2016 | Dec. 31, 2017 | Feb. 09, 2018 | Jul. 13, 2016 |
Derivative [Line Items] | |||||
Current Fiscal Year End Date | --12-31 | ||||
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months | $ 6,900,000 | ||||
Loss on Discontinuation of Cash Flow Hedge Due to Forecasted Transaction Probable of Not Occurring | $ 40,600,000 | ||||
Equity Offering [Member] | |||||
Derivative [Line Items] | |||||
Proceeds from Issuance of Common Stock | $ 400,100,000 | ||||
Unsecured Debt [Member] | |||||
Derivative [Line Items] | |||||
Unsecured Debt Repayment | $ 300,000,000 | ||||
Swap [Member] | |||||
Derivative [Line Items] | |||||
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months | 8,400,000 | ||||
Assets [Member] | |||||
Derivative [Line Items] | |||||
Derivative, Notional Amount | $ 220,000,000 | ||||
Subsequent Event [Member] | Derivative @ 2.899% 285M 10Yr Treasury Rate Lock [Member] | |||||
Derivative [Line Items] | |||||
Derivative, Notional Amount | $ 285,000,000 | ||||
Derivative, Fixed Interest Rate | 2.899% |
Fair Value Measurements - Fair
Fair Value Measurements - Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Document Fiscal Year Focus | 2,017 | |
Financing Receivable, Net | $ 15,803 | $ 10,481 |
Notes Payable | 2,971,715 | 1,363,925 |
Unsecured Debt | $ 623,262 | $ 278,495 |
Unsecured Credit Facilities [Member] | Minimum [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Fair Value Assumptions, Risk Free Interest Rate | 2.00% | 1.50% |
Unsecured Credit Facilities [Member] | Maximum [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Fair Value Assumptions, Risk Free Interest Rate | 3.00% | 1.60% |
Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Notes Receivable, Fair Value | $ 15,660 | $ 10,380 |
Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Notes Payable, Fair Value | 3,058,044 | 1,435,000 |
Fair Value, Inputs, Level 2 [Member] | Unsecured Credit Facilities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Debt Instrument, Fair Value Disclosure | $ 625,000 | $ 279,700 |
Notes Receivable [Member] | Minimum [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Fair Value Assumptions, Risk Free Interest Rate | 3.80% | 7.20% |
Notes Receivable [Member] | Maximum [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Fair Value Assumptions, Risk Free Interest Rate | 7.80% | 7.20% |
Notes Payable, Other Payables [Member] | Minimum [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Fair Value Assumptions, Risk Free Interest Rate | 3.00% | 2.90% |
Notes Payable, Other Payables [Member] | Maximum [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Fair Value Assumptions, Risk Free Interest Rate | 3.90% | 3.90% |
Fair Value Measurements - Recur
Fair Value Measurements - Recurring and Nonrecurring Basis (Details) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading Securities, Fair Value Disclosure | $ 31,662 | $ 28,588 |
Available-for-sale Securities | 9,974 | 7,420 |
Interest Rate Cash Flow Hedge Asset at Fair Value | 14,515 | 11,622 |
Total | 56,151 | 47,630 |
Interest Rate Cash Flow Hedge Liability at Fair Value | (177) | (580) |
Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading Securities, Fair Value Disclosure | 31,662 | 28,588 |
Available-for-sale Securities | 0 | 0 |
Interest Rate Cash Flow Hedge Asset at Fair Value | 0 | 0 |
Total | 31,662 | 28,588 |
Interest Rate Cash Flow Hedge Liability at Fair Value | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading Securities, Fair Value Disclosure | 0 | 0 |
Available-for-sale Securities | 9,974 | 7,420 |
Interest Rate Cash Flow Hedge Asset at Fair Value | 14,515 | 11,622 |
Total | 24,489 | 19,042 |
Interest Rate Cash Flow Hedge Liability at Fair Value | (177) | (580) |
Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading Securities, Fair Value Disclosure | 0 | 0 |
Available-for-sale Securities | 0 | 0 |
Interest Rate Cash Flow Hedge Asset at Fair Value | 0 | 0 |
Total | 0 | 0 |
Interest Rate Cash Flow Hedge Liability at Fair Value | $ 0 | $ 0 |
Equity and Capital - Terms and
Equity and Capital - Terms and Conditions of Preferred and Common Stock (Details) | Feb. 16, 2017 | Feb. 26, 2018USD ($) | Dec. 31, 2017USD ($)$ / sharesshares | Dec. 31, 2016USD ($)$ / sharesshares | Dec. 31, 2015USD ($) | Feb. 06, 2020 | Feb. 07, 2018USD ($) | Feb. 17, 2017USD ($)$ / shares |
Class of Stock [Line Items] | ||||||||
Amount avaiable for issuance | $ 500,000,000 | |||||||
Current Fiscal Year End Date | --12-31 | |||||||
Document Fiscal Year Focus | 2,017 | |||||||
Series 6 and Series 7 | ||||||||
Class of Stock [Line Items] | ||||||||
Award vesting period | 5 years | |||||||
Parent Company [Member] | ||||||||
Class of Stock [Line Items] | ||||||||
Preferred Stock, Shares Issued | shares | 0 | 13,000,000 | ||||||
Liquidation preference | $ 325,000,000 | |||||||
Net proceeds from common stock issuance | $ 548,920,000 | $ 198,494,000 | ||||||
Conversion of Stock, Conversion Ratio | 0.45 | |||||||
Stock Issued During Period, Shares, Acquisitions | shares | 65,500,000 | |||||||
Parent Company [Member] | Series 6 | ||||||||
Class of Stock [Line Items] | ||||||||
Preferred Stock, Date of Issuance | Feb. 16, 2012 | |||||||
Preferred Stock, Shares Issued | shares | 10,000,000 | |||||||
Liquidation preference | $ 250,000,000 | |||||||
Preferred Stock, Callable Date | Feb. 16, 2017 | |||||||
Preferred Stock, Redemption Date | Feb. 16, 2017 | |||||||
Preferred Stock, Dividend Rate, Percentage | 6.625% | |||||||
Preferred Stock, Redemption Price Per Share | $ / shares | $ 25.21 | |||||||
Preferred Stock, Redemption Value | $ 252,000,000 | |||||||
Parent Company [Member] | Series 7 | ||||||||
Class of Stock [Line Items] | ||||||||
Preferred Stock, Date of Issuance | Aug. 23, 2012 | |||||||
Preferred Stock, Shares Issued | shares | 3,000,000 | |||||||
Liquidation preference | $ 75,000,000 | |||||||
Preferred Stock, Callable Date | Aug. 23, 2017 | |||||||
Preferred Stock, Redemption Date | Aug. 23, 2017 | |||||||
Preferred Stock, Dividend Rate, Percentage | 6.00% | |||||||
Preferred Stock, Redemption Price Per Share | $ / shares | $ 25.22 | |||||||
Preferred Stock, Redemption Value | $ 75,700,000 | |||||||
Maximum [Member] | ||||||||
Class of Stock [Line Items] | ||||||||
Amount avaiable for issuance | $ 500,000,000 | |||||||
Equity Offering, Common Shares available for issue | shares | 3,100,000 | |||||||
Common Stock | ||||||||
Class of Stock [Line Items] | ||||||||
Sale of Stock, Price Per Share | $ / shares | $ 75.25 | |||||||
Subsequent Event [Member] | ||||||||
Class of Stock [Line Items] | ||||||||
Stock Repurchase Program, Number of Shares Authorized to be Repurchased | $ 250,000,000 | |||||||
Stock Repurchase Program Expiration Date | Feb. 6, 2020 | |||||||
Stock Repurchased During Period, Value | $ 74,200,000 | |||||||
Forward Equity Offering [Member] | ||||||||
Class of Stock [Line Items] | ||||||||
Stock Issued During Period, Shares, New Issues | shares | 1,850,000 | |||||||
Net proceeds from common stock issuance | $ 137,500,000 | |||||||
Forward Equity Offering 2 [Member] | ||||||||
Class of Stock [Line Items] | ||||||||
Stock Issued During Period, Shares, New Issues | shares | 1,250,000 | |||||||
Net proceeds from common stock issuance | $ 89,100,000 | |||||||
ATM Equity Offering Program [Member] | ||||||||
Class of Stock [Line Items] | ||||||||
Stock Issued During Period, Shares, New Issues | shares | 0 | 182,787,000 | ||||||
Weighted Average Price Per Share | $ / shares | $ 0 | $ 68.85 | ||||||
Net proceeds from common stock issuance | $ 0 | $ 12,584,000 | ||||||
Payments for Commissions | 0 | 157,000 | ||||||
Payments of stock issuance costs | $ 349,000 | $ 97,000 |
Equity and Capital - Noncontrol
Equity and Capital - Noncontrolling Interest of Limited Partners (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Limited Partners' Capital Account [Line Items] | |||
Document Fiscal Year Focus | 2,017 | ||
General Partners' Capital Account, Units Outstanding | 171,364,908 | 104,497,000 | |
Limited Partners' Capital Account, Units Outstanding | 350,000 | 154,000 | |
Partners' Capital Account, Units | 171,714,810 | 104,651,000 | |
Parent Company, Ownership Percentage of Outstanding Common Partnership Units of Operating Partnership | 99.80% | 99.90% | |
Parent Company [Member] | |||
Limited Partners' Capital Account [Line Items] | |||
Partners' Capital Account, Contributions | $ 13,478 | $ 8,760 | $ 717 |
Parent Company [Member] | Noncontrolling Interest Exchangeable Operating Partnership Units [Member] | |||
Limited Partners' Capital Account [Line Items] | |||
Partners' Capital Account, Units, Contributed | 195,732 | ||
Partners' Capital Account, Contributions | $ 13,100 | $ 0 | $ 0 |
Equity and Capital - Accumulate
Equity and Capital - Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Document Fiscal Year Focus | 2,017 | ||
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | $ 10,931 | $ 50,910 | $ 8,995 |
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | |||
Accumulated Other Comprehensive Income (Loss), Net of Tax, Beginning of Period | (18,327) | (58,650) | (57,748) |
Other Comprehensive Income (Loss), before Reclassifications, before Tax | 1,134 | (10,587) | (9,897) |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | 10,931 | 50,910 | 8,995 |
Current period other comprehensive income, net | 12,065 | 40,323 | (902) |
Accumulated Other Comprehensive Income (Loss), Net of Tax, End of Period | (6,262) | (18,327) | (58,650) |
Accumulated Net Unrealized Investment Gain (Loss) [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | 0 | 0 | 0 |
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | |||
Accumulated Other Comprehensive Income (Loss), Net of Tax, Beginning of Period | (19) | (43) | 0 |
Other Comprehensive Income (Loss), before Reclassifications, before Tax | (8) | 24 | (43) |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | 0 | 0 | 0 |
Current period other comprehensive income, net | (8) | 24 | (43) |
Accumulated Other Comprehensive Income (Loss), Net of Tax, End of Period | (27) | (19) | (43) |
Accumulated Other Comprehensive Income (Loss) [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | 10,931 | 50,910 | 8,995 |
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | |||
Accumulated Other Comprehensive Income (Loss), Net of Tax, Beginning of Period | (18,346) | (58,693) | (57,748) |
Other Comprehensive Income (Loss), before Reclassifications, before Tax | 1,126 | (10,563) | (9,940) |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | 10,931 | 50,910 | 8,995 |
Current period other comprehensive income, net | 12,057 | 40,347 | (945) |
Accumulated Other Comprehensive Income (Loss), Net of Tax, End of Period | (6,289) | (18,346) | (58,693) |
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Noncontrolling Interest [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | 172 | 229 | 157 |
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | |||
Accumulated Other Comprehensive Income (Loss), Net of Tax, Beginning of Period | (301) | (785) | (750) |
Other Comprehensive Income (Loss), before Reclassifications, before Tax | 17 | 255 | (192) |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | 172 | 229 | 157 |
Current period other comprehensive income, net | 189 | 484 | (35) |
Accumulated Other Comprehensive Income (Loss), Net of Tax, End of Period | (112) | (301) | (785) |
Accumulated Net Investment Gain (Loss) Attributable to Noncontrolling Interest [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | 0 | 0 | 0 |
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | |||
Accumulated Other Comprehensive Income (Loss), Net of Tax, Beginning of Period | 0 | 0 | 0 |
Other Comprehensive Income (Loss), before Reclassifications, before Tax | 0 | 0 | 0 |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | 0 | 0 | 0 |
Current period other comprehensive income, net | 0 | 0 | 0 |
Accumulated Other Comprehensive Income (Loss), Net of Tax, End of Period | 0 | 0 | 0 |
AOCI Attributable to Noncontrolling Interest [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | 172 | 229 | 157 |
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | |||
Accumulated Other Comprehensive Income (Loss), Net of Tax, Beginning of Period | (301) | (785) | (750) |
Other Comprehensive Income (Loss), before Reclassifications, before Tax | 17 | 255 | (192) |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | 172 | 229 | 157 |
Current period other comprehensive income, net | 189 | 484 | (35) |
Accumulated Other Comprehensive Income (Loss), Net of Tax, End of Period | (112) | (301) | (785) |
AOCI Including Portion Attributable to Noncontrolling Interest [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | 11,103 | 51,139 | 9,152 |
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | |||
Accumulated Other Comprehensive Income (Loss), Net of Tax, Beginning of Period | (18,647) | (59,478) | (58,498) |
Other Comprehensive Income (Loss), before Reclassifications, before Tax | 1,143 | (10,308) | (10,132) |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | 11,103 | 51,139 | 9,152 |
Current period other comprehensive income, net | 12,246 | 40,831 | (980) |
Accumulated Other Comprehensive Income (Loss), Net of Tax, End of Period | (6,401) | (18,647) | (59,478) |
Accumulated Net Gain (Loss) from Cash Flow Hedges Including Portion Attributable to Noncontrolling Interest [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | 11,103 | 51,139 | 9,152 |
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | |||
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | $ 11,103 | $ 51,139 | $ 9,152 |
Earnings per Share and Unit (De
Earnings per Share and Unit (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | |||||||||||
Document Fiscal Year Focus | 2,017 | ||||||||||
Numerator [Abstract] | |||||||||||
Net income (loss) attributable to common stockholders | $ 85,138 | $ 59,666 | $ 48,368 | $ (33,223) | $ 55,868 | $ 5,305 | $ 34,810 | $ 47,877 | |||
Income per common share - basic (note 13): | |||||||||||
Continuing operations (in dollars per share) | $ 0.50 | $ 0.35 | $ 0.28 | $ (0.26) | $ 0.53 | $ 0.05 | $ 0.36 | $ 0.49 | |||
Income per common share - diluted (note 13): | |||||||||||
Continuing operations (in dollars per share) | $ 0.53 | $ 0.05 | $ 0.35 | $ 0.49 | |||||||
Earnings Per Common Unit - Diluted [Abstract] | |||||||||||
Current Fiscal Year End Date | --12-31 | ||||||||||
Weighted Average Limited Partnership Units Outstanding, Basic | 295,054 | 154,170 | 154,170 | ||||||||
Parent Company [Member] | |||||||||||
Numerator [Abstract] | |||||||||||
Net income (loss) attributable to common stockholders | $ 159,949 | $ 143,860 | $ 128,994 | ||||||||
Denominator [Abstract] | |||||||||||
Weighted average common shares/units outstanding for basic EPS/EPU | 159,536,000 | 100,863,000 | 94,391,000 | ||||||||
Weighted average common shares/units outstanding for diluted EPS/EPU | 159,960,000 | 101,285,000 | 94,856,000 | ||||||||
Income per common share - basic (note 13): | |||||||||||
Continuing operations (in dollars per share) | $ 1 | $ 1.43 | $ 1.37 | ||||||||
Income per common share - diluted (note 13): | |||||||||||
Continuing operations (in dollars per share) | $ 1 | $ 1.42 | $ 1.36 | ||||||||
Partnership Interest [Member] | |||||||||||
Denominator [Abstract] | |||||||||||
Weighted average common shares/units outstanding for basic EPS/EPU | 159,831,000 | 101,017,000 | 94,546,000 | ||||||||
Weighted average common shares/units outstanding for diluted EPS/EPU | 160,255,000 | 101,439,000 | 95,011,000 | ||||||||
Income per common share - basic (note 13): | |||||||||||
Continuing operations (in dollars per share) | $ 1 | $ 1.43 | $ 1.37 | ||||||||
Income per common share - diluted (note 13): | |||||||||||
Continuing operations (in dollars per share) | 1 | 1.42 | 1.36 | ||||||||
Earnings Per Common Unit, Basic [Abstract] | |||||||||||
Continuing operations (in dollars per share) | 1 | 1.43 | 1.37 | ||||||||
Earnings Per Common Unit - Diluted [Abstract] | |||||||||||
Continuing operations (in dollars per share) | $ 1 | $ 1.42 | $ 1.36 | ||||||||
Continuing operations | Parent Company [Member] | |||||||||||
Numerator [Abstract] | |||||||||||
Net income (loss) attributable to common stockholders | $ 159,949 | $ 143,860 | $ 128,994 | ||||||||
Net (loss) income for common stockholders - diluted | 159,949 | 143,860 | 128,994 | ||||||||
Continuing operations | Partnership Interest [Member] | |||||||||||
Numerator [Abstract] | |||||||||||
Net income (loss) attributable to common stockholders | 160,337 | 144,117 | 129,234 | ||||||||
Net (loss) income for common stockholders - diluted | $ 160,337 | $ 144,117 | $ 129,234 |
Operating Leases - Lessor (Deta
Operating Leases - Lessor (Details) | 12 Months Ended | ||
Dec. 31, 2017USD ($)ft²employees | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | |
Operating Leases, Future Minimum Payments Receivable [Abstract] | |||
2,017 | $ 734,157 | ||
2,018 | 669,345 | ||
2,019 | 589,515 | ||
2,020 | 505,592 | ||
2,021 | 412,924 | ||
Thereafter | 1,643,594 | ||
Total | $ 4,555,127 | ||
Operating Leased Assets [Line Items] | |||
Customer Concentration Risk - Number | employees | 0 | ||
Concentration Risk, Percentage | 18.00% | ||
Ground Lease Expiration Date | 2,101 | ||
Office Lease Expiration Date | 2,029 | ||
Operating leases expenses | $ 18,400,000 | $ 13,100,000 | $ 9,500,000 |
Minimum [Member] | |||
Operating Leased Assets [Line Items] | |||
Operating leases, lease year range | 3 years | ||
Operating leases, lease year range for tenant space greater than 10,000 sq ft | 5 years | ||
Maximum [Member] | |||
Operating Leased Assets [Line Items] | |||
Operating leases, lease year range | 7 years | ||
Concentration Risk, Percentage | 5.00% | ||
Leases less than 10,000 sqft [Member] | |||
Operating Leased Assets [Line Items] | |||
Operating leases, tenant space terms | ft² | 10,000 | ||
Leases greater then 10,000sqft [Member] | |||
Operating Leased Assets [Line Items] | |||
Operating leases, tenant space terms | ft² | 10,000 |
Operating Leases - Lessee (Deta
Operating Leases - Lessee (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Operating Leases, Future Minimum Payments Due [Abstract] | |||
2,017 | $ 14,266 | ||
2,018 | 15,329 | ||
2,019 | 14,778 | ||
2,020 | 13,907 | ||
2,021 | 13,049 | ||
Thereafter | 481,972 | ||
Total | $ 553,301 | ||
Operating Leased Assets [Line Items] | |||
Office Lease Expiration Date | 2,029 | ||
Operating leases expenses | $ 18,400,000 | $ 13,100,000 | $ 9,500,000 |
Commitments and Contingencies L
Commitments and Contingencies Letters of Credit (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Line of Credit Facility [Line Items] | ||
Letters of Credit Outstanding, Amount | $ 9.4 | $ 5.8 |
Letter of Credit [Member] | ||
Line of Credit Facility [Line Items] | ||
Line of Credit Facility, Maximum Borrowing Capacity | $ 50 |
Commitments and Contingencies P
Commitments and Contingencies Purchase Commitments (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2017USD ($) | |
Long-term Purchase Commitment [Line Items] | |
Current Fiscal Year End Date | --12-31 |
Long-term Purchase Commitment, Amount | $ 205 |
Long-term Purchase Commitment, Description | November 2,019 |
Maximum [Member] | |
Long-term Purchase Commitment [Line Items] | |
Noncontrolling Interest, Ownership Percentage by Parent | 100.00% |
Minimum [Member] | |
Long-term Purchase Commitment [Line Items] | |
Noncontrolling Interest, Ownership Percentage by Parent | 0.00% |
Summary of Quarterly Financia84
Summary of Quarterly Financial Data (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | |||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | |
Revenues included in Discontinued Operations | $ 264,749 | |||||||
Net income (loss) attributable to common stockholders | 85,138 | $ 59,666 | $ 48,368 | $ (33,223) | $ 55,868 | $ 5,305 | $ 34,810 | $ 47,877 |
Noncontrolling Interest in Net Income (Loss) Operating Partnerships, Nonredeemable | 171 | 132 | 104 | (19) | 92 | 16 | 64 | 85 |
Net Income (Loss) Allocated to General Partners | $ 85,309 | $ 59,798 | $ 48,472 | $ (33,242) | $ 55,960 | $ 5,321 | $ 34,874 | $ 47,962 |
Income (Loss) from Continuing Operations, Per Basic Share | $ 0.50 | $ 0.35 | $ 0.28 | $ (0.26) | $ 0.53 | $ 0.05 | $ 0.36 | $ 0.49 |
Earnings Per Share, Diluted | $ 0.50 | $ 0.35 | $ 0.28 | $ (0.26) | ||||
Income (Loss) from Continuing Operations, Per Diluted Share | $ 0.53 | $ 0.05 | $ 0.35 | $ 0.49 | ||||
Scenario, Previously Reported [Member] | ||||||||
Revenues included in Discontinued Operations | $ 262,141 | $ 261,305 | $ 196,131 | $ 159,561 | $ 152,769 | $ 152,413 | $ 149,628 |
Subsequent Events (Details)
Subsequent Events (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Mar. 01, 2017 | |
Subsequent Event [Line Items] | ||||||||||||
Net income (loss) attributable to common stockholders | $ 85,138 | $ 59,666 | $ 48,368 | $ (33,223) | $ 55,868 | $ 5,305 | $ 34,810 | $ 47,877 | ||||
Equity One Inc. [Member] | ||||||||||||
Subsequent Event [Line Items] | ||||||||||||
Business Acquisition, Share Price | $ 68.40 | |||||||||||
Parent Company [Member] | ||||||||||||
Subsequent Event [Line Items] | ||||||||||||
Repayment of fixed rate unsecured notes | $ 0 | $ 300,000 | $ 450,000 | |||||||||
Net income (loss) attributable to common stockholders | $ 159,949 | $ 143,860 | $ 128,994 | |||||||||
Preferred stock, liquidation preferences per share | $ 25 | $ 25 | $ 25 | $ 25 | ||||||||
Common Stock, Par or Stated Value Per Share | $ 0.01 | $ 0.01 | $ 0.01 | $ 0.01 |
Schedule III - Consolidated R86
Schedule III - Consolidated Real Estate and Accumulated Depreciation (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2017 | |
Initial Cost | ||||
Land | $ 4,610,000 | |||
Building & Improvements | 5,574,604 | |||
Costs Capitalized Subsequent to Acquisition | (708,259) | |||
Total Cost | ||||
Land | 4,667,744 | |||
Building & Improvements | 6,225,077 | |||
Total | $ 4,933,499 | $ 4,545,900 | $ 4,409,886 | 10,892,821 |
Accumulated Depreciation | $ 1,124,391 | 1,043,787 | 933,708 | 1,339,771 |
Total Cost, Net of Accumulated Depreciation | 9,553,050 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 636,743 | |||
Aggregate cost for Federal income tax purposes | 8,800,000 | |||
Document Fiscal Year Focus | 2,017 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | $ 10,892,821 | 4,933,499 | 4,545,900 | |
Acquired properties | 5,772,265 | 370,010 | 39,850 | |
Developments and improvements | 273,871 | 148,904 | 174,972 | |
Sale of properties | (86,814) | (126,855) | (78,808) | |
SEC Schedule III, Real Estate, Write-down or Reserve, Amount | 0 | 4,460 | 0 | |
Ending balance | 4,933,499 | 4,545,900 | 4,409,886 | |
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Beginning balance | 1,124,391 | 1,043,787 | 933,708 | |
Depreciation expense | 222,395 | 115,355 | 119,475 | |
Sale of properties | (7,015) | (32,791) | (9,396) | |
Provision for impairment | 0 | (1,960) | 0 | |
Ending balance | 1,339,771 | $ 1,124,391 | $ 1,043,787 | |
South Point [Member] | ||||
Initial Cost | ||||
Land | 6,266 | |||
Building & Improvements | 8,235 | |||
Costs Capitalized Subsequent to Acquisition | (16) | |||
Total Cost | ||||
Land | 6,266 | |||
Building & Improvements | 8,251 | |||
Total | 14,517 | 14,517 | ||
Accumulated Depreciation | 307 | 307 | ||
Total Cost, Net of Accumulated Depreciation | 14,210 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 14,517 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 307 | |||
Southbury Green [Member] | ||||
Initial Cost | ||||
Land | 25,929 | |||
Building & Improvements | 35,058 | |||
Costs Capitalized Subsequent to Acquisition | (33) | |||
Total Cost | ||||
Land | 25,929 | |||
Building & Improvements | 35,091 | |||
Total | 61,020 | 61,020 | ||
Accumulated Depreciation | 1,045 | 1,045 | ||
Total Cost, Net of Accumulated Depreciation | 59,975 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 61,020 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 1,045 | |||
101 7th Avenue [Member] | ||||
Initial Cost | ||||
Land | 48,339 | |||
Building & Improvements | 34,895 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Total Cost | ||||
Land | 48,339 | |||
Building & Improvements | 34,895 | |||
Total | 83,234 | 83,234 | ||
Accumulated Depreciation | 934 | 934 | ||
Total Cost, Net of Accumulated Depreciation | 82,300 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 83,234 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 934 | |||
1175 Third Avenue [Member] | ||||
Initial Cost | ||||
Land | 40,560 | |||
Building & Improvements | 25,617 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Total Cost | ||||
Land | 40,560 | |||
Building & Improvements | 25,617 | |||
Total | 66,177 | 66,177 | ||
Accumulated Depreciation | 623 | 623 | ||
Total Cost, Net of Accumulated Depreciation | 65,554 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 66,177 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 623 | |||
1225-1239 Second Ave [Member] | ||||
Initial Cost | ||||
Land | 23,033 | |||
Building & Improvements | 17,173 | |||
Costs Capitalized Subsequent to Acquisition | (46) | |||
Total Cost | ||||
Land | 23,033 | |||
Building & Improvements | 17,219 | |||
Total | 40,252 | 40,252 | ||
Accumulated Depreciation | 447 | 447 | ||
Total Cost, Net of Accumulated Depreciation | 39,805 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 40,252 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 447 | |||
200 Potrero [Member] | ||||
Initial Cost | ||||
Land | 4,860 | |||
Building & Improvements | 2,251 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Total Cost | ||||
Land | 4,860 | |||
Building & Improvements | 2,251 | |||
Total | 7,111 | 7,111 | ||
Accumulated Depreciation | 87 | 87 | ||
Total Cost, Net of Accumulated Depreciation | 7,024 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 7,111 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 87 | |||
22 Crescent Road [Member] | ||||
Initial Cost | ||||
Land | 2,152 | |||
Building & Improvements | 318 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Total Cost | ||||
Land | 2,152 | |||
Building & Improvements | 318 | |||
Total | 2,470 | 2,470 | ||
Accumulated Depreciation | 18 | 18 | ||
Total Cost, Net of Accumulated Depreciation | 2,452 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 2,470 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 18 | |||
4S Commons Town Center [Member] | ||||
Initial Cost | ||||
Land | 30,760 | |||
Building & Improvements | 35,830 | |||
Costs Capitalized Subsequent to Acquisition | (1,230) | |||
Total Cost | ||||
Land | 30,812 | |||
Building & Improvements | 37,008 | |||
Total | 67,820 | 67,820 | ||
Accumulated Depreciation | 22,825 | 22,825 | ||
Total Cost, Net of Accumulated Depreciation | 44,995 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 85,000 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 67,820 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 22,825 | |||
90-30 Metropolitan Avenue [Member] | ||||
Initial Cost | ||||
Land | 16,355 | |||
Building & Improvements | 24,429 | |||
Costs Capitalized Subsequent to Acquisition | (79) | |||
Total Cost | ||||
Land | 16,355 | |||
Building & Improvements | 24,508 | |||
Total | 40,863 | 40,863 | ||
Accumulated Depreciation | 536 | 536 | ||
Total Cost, Net of Accumulated Depreciation | 40,327 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 40,863 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 536 | |||
91 Danbury Road [Member] | ||||
Initial Cost | ||||
Land | 690 | |||
Building & Improvements | 893 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Total Cost | ||||
Land | 690 | |||
Building & Improvements | 893 | |||
Total | 1,583 | 1,583 | ||
Accumulated Depreciation | 31 | 31 | ||
Total Cost, Net of Accumulated Depreciation | 1,552 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 1,583 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 31 | |||
Alafaya Commons [Member] | ||||
Initial Cost | ||||
Land | 7,388 | |||
Building & Improvements | 12,690 | |||
Costs Capitalized Subsequent to Acquisition | (77) | |||
Total Cost | ||||
Land | 7,388 | |||
Building & Improvements | 12,767 | |||
Total | 20,155 | 20,155 | ||
Accumulated Depreciation | 557 | 557 | ||
Total Cost, Net of Accumulated Depreciation | 19,598 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 20,155 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 557 | |||
Alafaya Village [Member] | ||||
Initial Cost | ||||
Land | 2,806 | |||
Building & Improvements | 6,046 | |||
Costs Capitalized Subsequent to Acquisition | (63) | |||
Total Cost | ||||
Land | 2,806 | |||
Building & Improvements | 6,109 | |||
Total | 8,915 | 8,915 | ||
Accumulated Depreciation | 216 | 216 | ||
Total Cost, Net of Accumulated Depreciation | 8,699 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 8,915 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 216 | |||
Ambassador Row [Member] | ||||
Initial Cost | ||||
Land | 2,572 | |||
Building & Improvements | 20,457 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Total Cost | ||||
Land | 2,572 | |||
Building & Improvements | 20,457 | |||
Total | 23,029 | 23,029 | ||
Accumulated Depreciation | 819 | 819 | ||
Total Cost, Net of Accumulated Depreciation | 22,210 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 23,029 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 819 | |||
Ambassador Row Courtyards [Member] | ||||
Initial Cost | ||||
Land | 1,779 | |||
Building & Improvements | 6,783 | |||
Costs Capitalized Subsequent to Acquisition | (553) | |||
Total Cost | ||||
Land | 1,779 | |||
Building & Improvements | 7,336 | |||
Total | 9,115 | 9,115 | ||
Accumulated Depreciation | 380 | 380 | ||
Total Cost, Net of Accumulated Depreciation | 8,735 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 9,115 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 380 | |||
Amerige Heights Town Center [Member] | ||||
Initial Cost | ||||
Land | 10,109 | |||
Building & Improvements | 11,288 | |||
Costs Capitalized Subsequent to Acquisition | (614) | |||
Total Cost | ||||
Land | 10,109 | |||
Building & Improvements | 11,902 | |||
Total | 22,011 | 22,011 | ||
Accumulated Depreciation | 4,340 | 4,340 | ||
Total Cost, Net of Accumulated Depreciation | 17,671 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 15,844 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 22,011 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 4,340 | |||
Anastasia Plaza [Member] | ||||
Initial Cost | ||||
Land | 9,065 | |||
Building & Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition | (639) | |||
Total Cost | ||||
Land | 3,338 | |||
Building & Improvements | 6,366 | |||
Total | 9,704 | 9,704 | ||
Accumulated Depreciation | 2,324 | 2,324 | ||
Total Cost, Net of Accumulated Depreciation | 7,380 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 9,704 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 2,324 | |||
Ashburn Farm Market Center [Member] | ||||
Initial Cost | ||||
Land | 9,835 | |||
Building & Improvements | 4,812 | |||
Costs Capitalized Subsequent to Acquisition | (640) | |||
Total Cost | ||||
Land | 9,835 | |||
Building & Improvements | 5,452 | |||
Total | 15,287 | 15,287 | ||
Accumulated Depreciation | 4,272 | 4,272 | ||
Total Cost, Net of Accumulated Depreciation | 11,015 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 15,287 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 4,272 | |||
Ashford Perimeter [Member] | ||||
Initial Cost | ||||
Land | 2,584 | |||
Building & Improvements | 9,865 | |||
Costs Capitalized Subsequent to Acquisition | (1,105) | |||
Total Cost | ||||
Land | 2,584 | |||
Building & Improvements | 10,970 | |||
Total | 13,554 | 13,554 | ||
Accumulated Depreciation | 7,247 | 7,247 | ||
Total Cost, Net of Accumulated Depreciation | 6,307 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 13,554 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 7,247 | |||
Atlantic Village [Member] | ||||
Initial Cost | ||||
Land | 2,446 | |||
Building & Improvements | 20,663 | |||
Costs Capitalized Subsequent to Acquisition | (23) | |||
Total Cost | ||||
Land | 2,446 | |||
Building & Improvements | 20,686 | |||
Total | 23,132 | 23,132 | ||
Accumulated Depreciation | 701 | 701 | ||
Total Cost, Net of Accumulated Depreciation | 22,431 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 23,132 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 701 | |||
Aventura Shopping Center [Member] | ||||
Initial Cost | ||||
Land | 2,751 | |||
Building & Improvements | 10,459 | |||
Costs Capitalized Subsequent to Acquisition | (9,663) | |||
Total Cost | ||||
Land | 8,975 | |||
Building & Improvements | 13,898 | |||
Total | 22,873 | 22,873 | ||
Accumulated Depreciation | 121 | 121 | ||
Total Cost, Net of Accumulated Depreciation | 22,752 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 22,873 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 121 | |||
Aventura Square [Member] [Member] | ||||
Initial Cost | ||||
Land | 86,933 | |||
Building & Improvements | 21,936 | |||
Costs Capitalized Subsequent to Acquisition | (1,695) | |||
Total Cost | ||||
Land | 88,492 | |||
Building & Improvements | 22,072 | |||
Total | 110,564 | 110,564 | ||
Accumulated Depreciation | 696 | 696 | ||
Total Cost, Net of Accumulated Depreciation | 109,868 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 8,176 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 110,564 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 696 | |||
Balboa Mesa Shopping Center [Member] | ||||
Initial Cost | ||||
Land | 23,074 | |||
Building & Improvements | 33,838 | |||
Costs Capitalized Subsequent to Acquisition | (13,915) | |||
Total Cost | ||||
Land | 27,758 | |||
Building & Improvements | 43,069 | |||
Total | 70,827 | 70,827 | ||
Accumulated Depreciation | 9,747 | 9,747 | ||
Total Cost, Net of Accumulated Depreciation | 61,080 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 70,827 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 9,747 | |||
Banco Popular Building [Member] | ||||
Initial Cost | ||||
Land | 2,003 | |||
Building & Improvements | 1,294 | |||
Costs Capitalized Subsequent to Acquisition | (47) | |||
Total Cost | ||||
Land | 2,016 | |||
Building & Improvements | 1,328 | |||
Total | 3,344 | 3,344 | ||
Accumulated Depreciation | 55 | 55 | ||
Total Cost, Net of Accumulated Depreciation | 3,289 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 3,344 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 55 | |||
Belleview Square [Member] | ||||
Initial Cost | ||||
Land | 8,132 | |||
Building & Improvements | 9,756 | |||
Costs Capitalized Subsequent to Acquisition | (3,097) | |||
Total Cost | ||||
Land | 8,323 | |||
Building & Improvements | 12,662 | |||
Total | 20,985 | 20,985 | ||
Accumulated Depreciation | 7,389 | 7,389 | ||
Total Cost, Net of Accumulated Depreciation | 13,596 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 20,985 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 7,389 | |||
Belmont Chase [Member] | ||||
Initial Cost | ||||
Land | 13,881 | |||
Building & Improvements | 17,193 | |||
Costs Capitalized Subsequent to Acquisition | 588 | |||
Total Cost | ||||
Land | 14,372 | |||
Building & Improvements | 16,114 | |||
Total | 30,486 | 30,486 | ||
Accumulated Depreciation | 2,527 | 2,527 | ||
Total Cost, Net of Accumulated Depreciation | 27,959 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 30,486 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 2,527 | |||
Berkshire Commons [Member] | ||||
Initial Cost | ||||
Land | 2,295 | |||
Building & Improvements | 9,551 | |||
Costs Capitalized Subsequent to Acquisition | (2,247) | |||
Total Cost | ||||
Land | 2,965 | |||
Building & Improvements | 11,128 | |||
Total | 14,093 | 14,093 | ||
Accumulated Depreciation | 7,351 | 7,351 | ||
Total Cost, Net of Accumulated Depreciation | 6,742 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 14,093 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 7,351 | |||
Bird 107 Plaza [Member] | ||||
Initial Cost | ||||
Land | 10,108 | |||
Building & Improvements | 5,399 | |||
Costs Capitalized Subsequent to Acquisition | (8) | |||
Total Cost | ||||
Land | 10,108 | |||
Building & Improvements | 5,407 | |||
Total | 15,515 | 15,515 | ||
Accumulated Depreciation | 192 | 192 | ||
Total Cost, Net of Accumulated Depreciation | 15,323 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 15,515 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 192 | |||
Bird Ludlam [Member] | ||||
Initial Cost | ||||
Land | 40,945 | |||
Building & Improvements | 40,200 | |||
Costs Capitalized Subsequent to Acquisition | (66) | |||
Total Cost | ||||
Land | 40,945 | |||
Building & Improvements | 40,266 | |||
Total | 81,211 | 81,211 | ||
Accumulated Depreciation | 1,228 | 1,228 | ||
Total Cost, Net of Accumulated Depreciation | 79,983 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 81,211 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 1,228 | |||
Blackrock [Member] [Domain] | ||||
Initial Cost | ||||
Land | 22,251 | |||
Building & Improvements | 20,815 | |||
Costs Capitalized Subsequent to Acquisition | (301) | |||
Total Cost | ||||
Land | 22,250 | |||
Building & Improvements | 21,117 | |||
Total | 43,367 | 43,367 | ||
Accumulated Depreciation | 3,535 | 3,535 | ||
Total Cost, Net of Accumulated Depreciation | 39,832 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 20,000 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 43,367 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 3,535 | |||
Bloomingdale Square [Member] | ||||
Initial Cost | ||||
Land | 3,940 | |||
Building & Improvements | 14,912 | |||
Costs Capitalized Subsequent to Acquisition | (3,174) | |||
Total Cost | ||||
Land | 4,430 | |||
Building & Improvements | 17,596 | |||
Total | 22,026 | 22,026 | ||
Accumulated Depreciation | 9,152 | 9,152 | ||
Total Cost, Net of Accumulated Depreciation | 12,874 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 22,026 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 9,152 | |||
Bluebonnet Village [Member] | ||||
Initial Cost | ||||
Land | 3,688 | |||
Building & Improvements | 10,167 | |||
Costs Capitalized Subsequent to Acquisition | (533) | |||
Total Cost | ||||
Land | 3,688 | |||
Building & Improvements | 10,700 | |||
Total | 14,388 | 14,388 | ||
Accumulated Depreciation | 438 | 438 | ||
Total Cost, Net of Accumulated Depreciation | 13,950 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 14,388 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 438 | |||
Bluff Square Shoppes [Member] | ||||
Initial Cost | ||||
Land | 6,412 | |||
Building & Improvements | 13,072 | |||
Costs Capitalized Subsequent to Acquisition | 165 | |||
Total Cost | ||||
Land | 6,412 | |||
Building & Improvements | 12,907 | |||
Total | 19,319 | 19,319 | ||
Accumulated Depreciation | 527 | 527 | ||
Total Cost, Net of Accumulated Depreciation | 18,792 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 19,319 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 527 | |||
Boca Village Square [Member] | ||||
Initial Cost | ||||
Land | 42,543 | |||
Building & Improvements | 11,043 | |||
Costs Capitalized Subsequent to Acquisition | (30) | |||
Total Cost | ||||
Land | 42,543 | |||
Building & Improvements | 11,073 | |||
Total | 53,616 | 53,616 | ||
Accumulated Depreciation | 464 | 464 | ||
Total Cost, Net of Accumulated Depreciation | 53,152 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 53,616 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 464 | |||
Boulevard Center [Member] | ||||
Initial Cost | ||||
Land | 3,659 | |||
Building & Improvements | 10,787 | |||
Costs Capitalized Subsequent to Acquisition | (2,268) | |||
Total Cost | ||||
Land | 3,659 | |||
Building & Improvements | 13,055 | |||
Total | 16,714 | 16,714 | ||
Accumulated Depreciation | 6,647 | 6,647 | ||
Total Cost, Net of Accumulated Depreciation | 10,067 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 16,714 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 6,647 | |||
Boynton Lakes Plaza [Member] | ||||
Initial Cost | ||||
Land | 2,628 | |||
Building & Improvements | 11,236 | |||
Costs Capitalized Subsequent to Acquisition | (4,936) | |||
Total Cost | ||||
Land | 3,606 | |||
Building & Improvements | 15,194 | |||
Total | 18,800 | 18,800 | ||
Accumulated Depreciation | 6,817 | 6,817 | ||
Total Cost, Net of Accumulated Depreciation | 11,983 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 18,800 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 6,817 | |||
Boynton Plaza [Member] | ||||
Initial Cost | ||||
Land | 11,781 | |||
Building & Improvements | 21,812 | |||
Costs Capitalized Subsequent to Acquisition | (106) | |||
Total Cost | ||||
Land | 11,781 | |||
Building & Improvements | 21,918 | |||
Total | 33,699 | 33,699 | ||
Accumulated Depreciation | 694 | 694 | ||
Total Cost, Net of Accumulated Depreciation | 33,005 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 33,699 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 694 | |||
Brentwood Plaza [Member] | ||||
Initial Cost | ||||
Land | 2,788 | |||
Building & Improvements | 3,473 | |||
Costs Capitalized Subsequent to Acquisition | (289) | |||
Total Cost | ||||
Land | 2,788 | |||
Building & Improvements | 3,762 | |||
Total | 6,550 | 6,550 | ||
Accumulated Depreciation | 1,242 | 1,242 | ||
Total Cost, Net of Accumulated Depreciation | 5,308 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 6,550 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 1,242 | |||
Briarcliff La Vista [Member] | ||||
Initial Cost | ||||
Land | 694 | |||
Building & Improvements | 3,292 | |||
Costs Capitalized Subsequent to Acquisition | (495) | |||
Total Cost | ||||
Land | 694 | |||
Building & Improvements | 3,787 | |||
Total | 4,481 | 4,481 | ||
Accumulated Depreciation | 2,746 | 2,746 | ||
Total Cost, Net of Accumulated Depreciation | 1,735 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 4,481 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 2,746 | |||
Briarcliff Village [Member] | ||||
Initial Cost | ||||
Land | 4,597 | |||
Building & Improvements | 24,836 | |||
Costs Capitalized Subsequent to Acquisition | (2,054) | |||
Total Cost | ||||
Land | 4,597 | |||
Building & Improvements | 26,890 | |||
Total | 31,487 | 31,487 | ||
Accumulated Depreciation | 17,528 | 17,528 | ||
Total Cost, Net of Accumulated Depreciation | 13,959 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 31,487 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 17,528 | |||
Brickwalk [Member] | ||||
Initial Cost | ||||
Land | 25,299 | |||
Building & Improvements | 41,995 | |||
Costs Capitalized Subsequent to Acquisition | (1,042) | |||
Total Cost | ||||
Land | 25,299 | |||
Building & Improvements | 43,037 | |||
Total | 68,336 | 68,336 | ||
Accumulated Depreciation | 5,447 | 5,447 | ||
Total Cost, Net of Accumulated Depreciation | 62,889 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 33,000 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 68,336 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 5,447 | |||
BridgeMill Market [Member] | ||||
Initial Cost | ||||
Land | 6,303 | |||
Building & Improvements | 14,526 | |||
Costs Capitalized Subsequent to Acquisition | (276) | |||
Total Cost | ||||
Land | 6,303 | |||
Building & Improvements | 14,802 | |||
Total | 21,105 | 21,105 | ||
Accumulated Depreciation | 540 | 540 | ||
Total Cost, Net of Accumulated Depreciation | 20,565 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 5,596 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 21,105 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 540 | |||
Bridgeton [Member] | ||||
Initial Cost | ||||
Land | 3,033 | |||
Building & Improvements | 8,137 | |||
Costs Capitalized Subsequent to Acquisition | (485) | |||
Total Cost | ||||
Land | 3,067 | |||
Building & Improvements | 8,588 | |||
Total | 11,655 | 11,655 | ||
Accumulated Depreciation | 2,226 | 2,226 | ||
Total Cost, Net of Accumulated Depreciation | 9,429 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 11,655 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 2,226 | |||
Brighten Park [Member] | ||||
Initial Cost | ||||
Land | 3,983 | |||
Building & Improvements | 18,687 | |||
Costs Capitalized Subsequent to Acquisition | (11,341) | |||
Total Cost | ||||
Land | 4,234 | |||
Building & Improvements | 29,777 | |||
Total | 34,011 | 34,011 | ||
Accumulated Depreciation | 14,230 | 14,230 | ||
Total Cost, Net of Accumulated Depreciation | 19,781 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 34,011 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 14,230 | |||
Broadway Plaza [Member] | ||||
Initial Cost | ||||
Land | 40,391 | |||
Building & Improvements | 42,281 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Total Cost | ||||
Land | 40,391 | |||
Building & Improvements | 42,281 | |||
Total | 82,672 | 82,672 | ||
Accumulated Depreciation | 1,155 | 1,155 | ||
Total Cost, Net of Accumulated Depreciation | 81,517 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 82,672 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 1,155 | |||
Brooklyn Station [Member] | ||||
Initial Cost | ||||
Land | 7,019 | |||
Building & Improvements | 8,688 | |||
Costs Capitalized Subsequent to Acquisition | 34 | |||
Total Cost | ||||
Land | 7,019 | |||
Building & Improvements | 8,654 | |||
Total | 15,673 | 15,673 | ||
Accumulated Depreciation | 1,095 | 1,095 | ||
Total Cost, Net of Accumulated Depreciation | 14,578 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 15,673 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 1,095 | |||
Brookside Plaza [Member] | ||||
Initial Cost | ||||
Land | 33,612 | |||
Building & Improvements | 19,043 | |||
Costs Capitalized Subsequent to Acquisition | (151) | |||
Total Cost | ||||
Land | 33,612 | |||
Building & Improvements | 19,194 | |||
Total | 52,806 | 52,806 | ||
Accumulated Depreciation | 854 | 854 | ||
Total Cost, Net of Accumulated Depreciation | 51,952 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 52,806 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 854 | |||
Buckhead Court [Member] | ||||
Initial Cost | ||||
Land | 1,417 | |||
Building & Improvements | 7,432 | |||
Costs Capitalized Subsequent to Acquisition | (3,371) | |||
Total Cost | ||||
Land | 1,417 | |||
Building & Improvements | 10,803 | |||
Total | 12,220 | 12,220 | ||
Accumulated Depreciation | 6,232 | 6,232 | ||
Total Cost, Net of Accumulated Depreciation | 5,988 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 12,220 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 6,232 | |||
Buckhead Station [Member] | ||||
Initial Cost | ||||
Land | 69,831 | |||
Building & Improvements | 35,397 | |||
Costs Capitalized Subsequent to Acquisition | (2,217) | |||
Total Cost | ||||
Land | 69,868 | |||
Building & Improvements | 37,577 | |||
Total | 107,445 | 107,445 | ||
Accumulated Depreciation | 1,306 | 1,306 | ||
Total Cost, Net of Accumulated Depreciation | 106,139 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 107,445 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 1,306 | |||
Buckley Square [Member] | ||||
Initial Cost | ||||
Land | 2,970 | |||
Building & Improvements | 5,978 | |||
Costs Capitalized Subsequent to Acquisition | (1,151) | |||
Total Cost | ||||
Land | 2,970 | |||
Building & Improvements | 7,129 | |||
Total | 10,099 | 10,099 | ||
Accumulated Depreciation | 4,026 | 4,026 | ||
Total Cost, Net of Accumulated Depreciation | 6,073 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 10,099 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 4,026 | |||
Caligo Crossing [Member] | ||||
Initial Cost | ||||
Land | 2,459 | |||
Building & Improvements | 4,897 | |||
Costs Capitalized Subsequent to Acquisition | (39) | |||
Total Cost | ||||
Land | 2,546 | |||
Building & Improvements | 4,849 | |||
Total | 7,395 | 7,395 | ||
Accumulated Depreciation | 2,536 | 2,536 | ||
Total Cost, Net of Accumulated Depreciation | 4,859 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 7,395 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 2,536 | |||
Cambridge Square [Member] | ||||
Initial Cost | ||||
Land | 774 | |||
Building & Improvements | 4,347 | |||
Costs Capitalized Subsequent to Acquisition | (784) | |||
Total Cost | ||||
Land | 774 | |||
Building & Improvements | 5,131 | |||
Total | 5,905 | 5,905 | ||
Accumulated Depreciation | 3,109 | 3,109 | ||
Total Cost, Net of Accumulated Depreciation | 2,796 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 5,905 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 3,109 | |||
Carmel commons [Member] | ||||
Initial Cost | ||||
Land | 2,466 | |||
Building & Improvements | 12,548 | |||
Costs Capitalized Subsequent to Acquisition | (5,119) | |||
Total Cost | ||||
Land | 3,422 | |||
Building & Improvements | 16,711 | |||
Total | 20,133 | 20,133 | ||
Accumulated Depreciation | 9,047 | 9,047 | ||
Total Cost, Net of Accumulated Depreciation | 11,086 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 20,133 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 9,047 | |||
Carriage Gate [Member] | ||||
Initial Cost | ||||
Land | 833 | |||
Building & Improvements | 4,974 | |||
Costs Capitalized Subsequent to Acquisition | (3,042) | |||
Total Cost | ||||
Land | 1,302 | |||
Building & Improvements | 7,547 | |||
Total | 8,849 | 8,849 | ||
Accumulated Depreciation | 5,608 | 5,608 | ||
Total Cost, Net of Accumulated Depreciation | 3,241 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 8,849 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 5,608 | |||
Cashmere Corners [Member] | ||||
Initial Cost | ||||
Land | 2,268 | |||
Building & Improvements | 10,317 | |||
Costs Capitalized Subsequent to Acquisition | (37) | |||
Total Cost | ||||
Land | 2,268 | |||
Building & Improvements | 10,354 | |||
Total | 12,622 | 12,622 | ||
Accumulated Depreciation | 401 | 401 | ||
Total Cost, Net of Accumulated Depreciation | 12,221 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 12,622 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 401 | |||
Centerplace of Greeley III [Member] | ||||
Initial Cost | ||||
Land | 6,661 | |||
Building & Improvements | 11,502 | |||
Costs Capitalized Subsequent to Acquisition | (460) | |||
Total Cost | ||||
Land | 5,694 | |||
Building & Improvements | 12,929 | |||
Total | 18,623 | 18,623 | ||
Accumulated Depreciation | 4,447 | 4,447 | ||
Total Cost, Net of Accumulated Depreciation | 14,176 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 18,623 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 4,447 | |||
Charlotte Square [Member] | ||||
Initial Cost | ||||
Land | 545 | |||
Building & Improvements | 7,441 | |||
Costs Capitalized Subsequent to Acquisition | (389) | |||
Total Cost | ||||
Land | 545 | |||
Building & Improvements | 7,830 | |||
Total | 8,375 | 8,375 | ||
Accumulated Depreciation | 306 | 306 | ||
Total Cost, Net of Accumulated Depreciation | 8,069 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 8,375 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 306 | |||
Chasewood Plaza [Member] | ||||
Initial Cost | ||||
Land | 4,612 | |||
Building & Improvements | 20,829 | |||
Costs Capitalized Subsequent to Acquisition | (5,234) | |||
Total Cost | ||||
Land | 6,518 | |||
Building & Improvements | 24,157 | |||
Total | 30,675 | 30,675 | ||
Accumulated Depreciation | 15,835 | 15,835 | ||
Total Cost, Net of Accumulated Depreciation | 14,840 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 30,675 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 15,835 | |||
Chastain Square [Member] | ||||
Initial Cost | ||||
Land | 29,501 | |||
Building & Improvements | 13,217 | |||
Costs Capitalized Subsequent to Acquisition | (1,278) | |||
Total Cost | ||||
Land | 29,501 | |||
Building & Improvements | 14,495 | |||
Total | 43,996 | 43,996 | ||
Accumulated Depreciation | 551 | 551 | ||
Total Cost, Net of Accumulated Depreciation | 43,445 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 43,996 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 551 | |||
Cherry Grove [Member] | ||||
Initial Cost | ||||
Land | 3,533 | |||
Building & Improvements | 15,862 | |||
Costs Capitalized Subsequent to Acquisition | (4,063) | |||
Total Cost | ||||
Land | 3,533 | |||
Building & Improvements | 19,925 | |||
Total | 23,458 | 23,458 | ||
Accumulated Depreciation | 9,494 | 9,494 | ||
Total Cost, Net of Accumulated Depreciation | 13,964 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 23,458 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 9,494 | |||
Circle Center West [Member] | ||||
Initial Cost | ||||
Land | 22,602 | |||
Building & Improvements | 9,355 | |||
Costs Capitalized Subsequent to Acquisition | (14) | |||
Total Cost | ||||
Land | 22,602 | |||
Building & Improvements | 9,369 | |||
Total | 31,971 | 31,971 | ||
Accumulated Depreciation | 353 | 353 | ||
Total Cost, Net of Accumulated Depreciation | 31,618 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 10,198 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 31,971 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 353 | |||
City Line Market [Member] | ||||
Initial Cost | ||||
Land | 12,208 | |||
Building & Improvements | 15,839 | |||
Costs Capitalized Subsequent to Acquisition | (71) | |||
Total Cost | ||||
Land | 12,246 | |||
Building & Improvements | 15,872 | |||
Total | 28,118 | 28,118 | ||
Accumulated Depreciation | 1,404 | 1,404 | ||
Total Cost, Net of Accumulated Depreciation | 26,714 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 28,118 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 1,404 | |||
CityLine Market Ph II [Member] | ||||
Initial Cost | ||||
Land | 2,611 | |||
Building & Improvements | 3,233 | |||
Costs Capitalized Subsequent to Acquisition | 47 | |||
Total Cost | ||||
Land | 2,611 | |||
Building & Improvements | 3,186 | |||
Total | 5,797 | 5,797 | ||
Accumulated Depreciation | 186 | 186 | ||
Total Cost, Net of Accumulated Depreciation | 5,611 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 5,797 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 186 | |||
Clayton Valley Shopping Center [Member] | ||||
Initial Cost | ||||
Land | 24,189 | |||
Building & Improvements | 35,422 | |||
Costs Capitalized Subsequent to Acquisition | (2,722) | |||
Total Cost | ||||
Land | 24,538 | |||
Building & Improvements | 37,795 | |||
Total | 62,333 | 62,333 | ||
Accumulated Depreciation | 22,624 | 22,624 | ||
Total Cost, Net of Accumulated Depreciation | 39,709 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 62,333 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 22,624 | |||
Clocktower Plaza Shopping Center [Member] | ||||
Initial Cost | ||||
Land | 48,907 | |||
Building & Improvements | 20,347 | |||
Costs Capitalized Subsequent to Acquisition | (64) | |||
Total Cost | ||||
Land | 48,907 | |||
Building & Improvements | 20,411 | |||
Total | 69,318 | 69,318 | ||
Accumulated Depreciation | 594 | 594 | ||
Total Cost, Net of Accumulated Depreciation | 68,724 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 69,318 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 594 | |||
Clybourn Commons [Member] | ||||
Initial Cost | ||||
Land | 15,056 | |||
Building & Improvements | 5,594 | |||
Costs Capitalized Subsequent to Acquisition | (254) | |||
Total Cost | ||||
Land | 15,056 | |||
Building & Improvements | 5,848 | |||
Total | 20,904 | 20,904 | ||
Accumulated Depreciation | 925 | 925 | ||
Total Cost, Net of Accumulated Depreciation | 19,979 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 20,904 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 925 | |||
Cochran's Crossing [Member] | ||||
Initial Cost | ||||
Land | 13,154 | |||
Building & Improvements | 12,315 | |||
Costs Capitalized Subsequent to Acquisition | (1,150) | |||
Total Cost | ||||
Land | 13,154 | |||
Building & Improvements | 13,465 | |||
Total | 26,619 | 26,619 | ||
Accumulated Depreciation | 9,374 | 9,374 | ||
Total Cost, Net of Accumulated Depreciation | 17,245 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 26,619 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 9,374 | |||
Compo Acres Shopping Center [Member] | ||||
Initial Cost | ||||
Land | 28,096 | |||
Building & Improvements | 10,925 | |||
Costs Capitalized Subsequent to Acquisition | (235) | |||
Total Cost | ||||
Land | 28,096 | |||
Building & Improvements | 11,160 | |||
Total | 39,256 | 39,256 | ||
Accumulated Depreciation | 312 | 312 | ||
Total Cost, Net of Accumulated Depreciation | 38,944 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 39,256 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 312 | |||
Concord Shopping Plaza [Member] | ||||
Initial Cost | ||||
Land | 28,037 | |||
Building & Improvements | 39,288 | |||
Costs Capitalized Subsequent to Acquisition | (453) | |||
Total Cost | ||||
Land | 28,490 | |||
Building & Improvements | 39,288 | |||
Total | 67,778 | 67,778 | ||
Accumulated Depreciation | 1,143 | 1,143 | ||
Total Cost, Net of Accumulated Depreciation | 66,635 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 27,750 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 67,778 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 1,143 | |||
Copps Hill Plaza [Member] | ||||
Initial Cost | ||||
Land | 28,508 | |||
Building & Improvements | 41,680 | |||
Costs Capitalized Subsequent to Acquisition | (194) | |||
Total Cost | ||||
Land | 28,508 | |||
Building & Improvements | 41,874 | |||
Total | 70,382 | 70,382 | ||
Accumulated Depreciation | 1,285 | 1,285 | ||
Total Cost, Net of Accumulated Depreciation | 69,097 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 14,221 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 70,382 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 1,285 | |||
Coral Reef Shopping Center [Member] | ||||
Initial Cost | ||||
Land | 14,210 | |||
Building & Improvements | 15,913 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Total Cost | ||||
Land | 14,210 | |||
Building & Improvements | 15,913 | |||
Total | 30,123 | 30,123 | ||
Accumulated Depreciation | 516 | 516 | ||
Total Cost, Net of Accumulated Depreciation | 29,607 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 30,123 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 516 | |||
Corkscrew Village [Member] | ||||
Initial Cost | ||||
Land | 8,407 | |||
Building & Improvements | 8,004 | |||
Costs Capitalized Subsequent to Acquisition | (595) | |||
Total Cost | ||||
Land | 8,407 | |||
Building & Improvements | 8,599 | |||
Total | 17,006 | 17,006 | ||
Accumulated Depreciation | 3,238 | 3,238 | ||
Total Cost, Net of Accumulated Depreciation | 13,768 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 17,006 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 3,238 | |||
Cornerstone Square [Member] | ||||
Initial Cost | ||||
Land | 1,772 | |||
Building & Improvements | 6,944 | |||
Costs Capitalized Subsequent to Acquisition | (1,683) | |||
Total Cost | ||||
Land | 1,772 | |||
Building & Improvements | 8,627 | |||
Total | 10,399 | 10,399 | ||
Accumulated Depreciation | 5,254 | 5,254 | ||
Total Cost, Net of Accumulated Depreciation | 5,145 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 10,399 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 5,254 | |||
Corvallis Market Center [Member] | ||||
Initial Cost | ||||
Land | 6,674 | |||
Building & Improvements | 12,244 | |||
Costs Capitalized Subsequent to Acquisition | (456) | |||
Total Cost | ||||
Land | 6,696 | |||
Building & Improvements | 12,678 | |||
Total | 19,374 | 19,374 | ||
Accumulated Depreciation | 5,254 | 5,254 | ||
Total Cost, Net of Accumulated Depreciation | 14,120 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 19,374 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 5,254 | |||
Costa Verde Center [Member] | ||||
Initial Cost | ||||
Land | 12,740 | |||
Building & Improvements | 26,868 | |||
Costs Capitalized Subsequent to Acquisition | (1,640) | |||
Total Cost | ||||
Land | 12,798 | |||
Building & Improvements | 28,450 | |||
Total | 41,248 | 41,248 | ||
Accumulated Depreciation | 15,398 | 15,398 | ||
Total Cost, Net of Accumulated Depreciation | 25,850 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 41,248 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 15,398 | |||
Countryside Shops [Member] | ||||
Initial Cost | ||||
Land | 16,667 | |||
Building & Improvements | 30,087 | |||
Costs Capitalized Subsequent to Acquisition | 108 | |||
Total Cost | ||||
Land | 16,667 | |||
Building & Improvements | 29,979 | |||
Total | 46,646 | 46,646 | ||
Accumulated Depreciation | 1,035 | 1,035 | ||
Total Cost, Net of Accumulated Depreciation | 45,611 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 46,646 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 1,035 | |||
Courtyard Landcom [Member] | ||||
Initial Cost | ||||
Land | 5,867 | |||
Building & Improvements | 4 | |||
Costs Capitalized Subsequent to Acquisition | (3) | |||
Total Cost | ||||
Land | 5,867 | |||
Building & Improvements | 7 | |||
Total | 5,874 | 5,874 | ||
Accumulated Depreciation | 2 | 2 | ||
Total Cost, Net of Accumulated Depreciation | 5,872 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 5,874 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 2 | |||
Crossroads Square [Member] | ||||
Initial Cost | ||||
Land | 7,257 | |||
Building & Improvements | 13,212 | |||
Costs Capitalized Subsequent to Acquisition | (31) | |||
Total Cost | ||||
Land | 7,257 | |||
Building & Improvements | 13,243 | |||
Total | 20,500 | 20,500 | ||
Accumulated Depreciation | 508 | 508 | ||
Total Cost, Net of Accumulated Depreciation | 19,992 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 20,500 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 508 | |||
Culpeper Colonnade [Member] | ||||
Initial Cost | ||||
Land | 15,944 | |||
Building & Improvements | 10,601 | |||
Costs Capitalized Subsequent to Acquisition | (4,893) | |||
Total Cost | ||||
Land | 16,258 | |||
Building & Improvements | 15,180 | |||
Total | 31,438 | 31,438 | ||
Accumulated Depreciation | 9,033 | 9,033 | ||
Total Cost, Net of Accumulated Depreciation | 22,405 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 31,438 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 9,033 | |||
Culver Center [Member] | ||||
Initial Cost | ||||
Land | 108,355 | |||
Building & Improvements | 32,798 | |||
Costs Capitalized Subsequent to Acquisition | (144) | |||
Total Cost | ||||
Land | 108,355 | |||
Building & Improvements | 32,942 | |||
Total | 141,297 | 141,297 | ||
Accumulated Depreciation | 1,157 | 1,157 | ||
Total Cost, Net of Accumulated Depreciation | 140,140 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 141,297 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 1,157 | |||
Danbury Green [Member] | ||||
Initial Cost | ||||
Land | 29,579 | |||
Building & Improvements | 19,979 | |||
Costs Capitalized Subsequent to Acquisition | (105) | |||
Total Cost | ||||
Land | 29,579 | |||
Building & Improvements | 20,084 | |||
Total | 49,663 | 49,663 | ||
Accumulated Depreciation | 601 | 601 | ||
Total Cost, Net of Accumulated Depreciation | 49,062 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 49,663 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 601 | |||
Dardenne Crossing [Member] | ||||
Initial Cost | ||||
Land | 4,194 | |||
Building & Improvements | 4,005 | |||
Costs Capitalized Subsequent to Acquisition | (328) | |||
Total Cost | ||||
Land | 4,343 | |||
Building & Improvements | 4,184 | |||
Total | 8,527 | 8,527 | ||
Accumulated Depreciation | 1,556 | 1,556 | ||
Total Cost, Net of Accumulated Depreciation | 6,971 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 8,527 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 1,556 | |||
Delk Spectrum [Member] | ||||
Initial Cost | ||||
Land | 0 | |||
Building & Improvements | 32,832 | |||
Costs Capitalized Subsequent to Acquisition | (529) | |||
Total Cost | ||||
Land | 0 | |||
Building & Improvements | 33,361 | |||
Total | 33,361 | 33,361 | ||
Accumulated Depreciation | 1,006 | 1,006 | ||
Total Cost, Net of Accumulated Depreciation | 32,355 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 33,361 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 1,006 | |||
Diablo Plaza [Member] | ||||
Initial Cost | ||||
Land | 5,300 | |||
Building & Improvements | 8,181 | |||
Costs Capitalized Subsequent to Acquisition | (1,444) | |||
Total Cost | ||||
Land | 5,300 | |||
Building & Improvements | 9,625 | |||
Total | 14,925 | 14,925 | ||
Accumulated Depreciation | 4,906 | 4,906 | ||
Total Cost, Net of Accumulated Depreciation | 10,019 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 14,925 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 4,906 | |||
Dunwoody Village [Member] | ||||
Initial Cost | ||||
Land | 3,342 | |||
Building & Improvements | 15,934 | |||
Costs Capitalized Subsequent to Acquisition | (4,041) | |||
Total Cost | ||||
Land | 3,342 | |||
Building & Improvements | 19,975 | |||
Total | 23,317 | 23,317 | ||
Accumulated Depreciation | 13,297 | 13,297 | ||
Total Cost, Net of Accumulated Depreciation | 10,020 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 23,317 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 13,297 | |||
East Pointe [Member] | ||||
Initial Cost | ||||
Land | 1,730 | |||
Building & Improvements | 7,189 | |||
Costs Capitalized Subsequent to Acquisition | (2,024) | |||
Total Cost | ||||
Land | 1,941 | |||
Building & Improvements | 9,002 | |||
Total | 10,943 | 10,943 | ||
Accumulated Depreciation | 5,157 | 5,157 | ||
Total Cost, Net of Accumulated Depreciation | 5,786 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 10,943 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 5,157 | |||
East Washington Place [Member] | ||||
Initial Cost | ||||
Land | 15,993 | |||
Building & Improvements | 40,180 | |||
Costs Capitalized Subsequent to Acquisition | (1,743) | |||
Total Cost | ||||
Land | 15,509 | |||
Building & Improvements | 42,407 | |||
Total | 57,916 | 57,916 | ||
Accumulated Depreciation | 9,140 | 9,140 | ||
Total Cost, Net of Accumulated Depreciation | 48,776 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 57,916 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 9,140 | |||
El Camino Shopping Center [Member] | ||||
Initial Cost | ||||
Land | 7,600 | |||
Building & Improvements | 11,538 | |||
Costs Capitalized Subsequent to Acquisition | (11,954) | |||
Total Cost | ||||
Land | 10,000 | |||
Building & Improvements | 21,092 | |||
Total | 31,092 | 31,092 | ||
Accumulated Depreciation | 6,317 | 6,317 | ||
Total Cost, Net of Accumulated Depreciation | 24,775 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 31,092 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 6,317 | |||
El Cerrito Plaza [Member] | ||||
Initial Cost | ||||
Land | 11,025 | |||
Building & Improvements | 27,371 | |||
Costs Capitalized Subsequent to Acquisition | (1,337) | |||
Total Cost | ||||
Land | 11,025 | |||
Building & Improvements | 28,708 | |||
Total | 39,733 | 39,733 | ||
Accumulated Depreciation | 9,450 | 9,450 | ||
Total Cost, Net of Accumulated Depreciation | 30,283 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 36,436 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 39,733 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 9,450 | |||
El Norte Parkway Plaza [Member] | ||||
Initial Cost | ||||
Land | 2,834 | |||
Building & Improvements | 7,370 | |||
Costs Capitalized Subsequent to Acquisition | (3,308) | |||
Total Cost | ||||
Land | 3,263 | |||
Building & Improvements | 10,249 | |||
Total | 13,512 | 13,512 | ||
Accumulated Depreciation | 4,965 | 4,965 | ||
Total Cost, Net of Accumulated Depreciation | 8,547 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 13,512 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 4,965 | |||
Elmwood Oaks Shopping Center [Member] | ||||
Initial Cost | ||||
Land | 5,139 | |||
Building & Improvements | 9,542 | |||
Costs Capitalized Subsequent to Acquisition | (244) | |||
Total Cost | ||||
Land | 5,139 | |||
Building & Improvements | 9,786 | |||
Total | 14,925 | 14,925 | ||
Accumulated Depreciation | 534 | 534 | ||
Total Cost, Net of Accumulated Depreciation | 14,391 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 14,925 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 534 | |||
Encina Grande [Member] | ||||
Initial Cost | ||||
Land | 5,040 | |||
Building & Improvements | 11,572 | |||
Costs Capitalized Subsequent to Acquisition | (19,253) | |||
Total Cost | ||||
Land | 10,053 | |||
Building & Improvements | 25,812 | |||
Total | 35,865 | 35,865 | ||
Accumulated Depreciation | 9,887 | 9,887 | ||
Total Cost, Net of Accumulated Depreciation | 25,978 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 35,865 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 9,887 | |||
Fairfax Shopping Center [Member] | ||||
Initial Cost | ||||
Land | 15,239 | |||
Building & Improvements | 11,367 | |||
Costs Capitalized Subsequent to Acquisition | 8,807 | |||
Total Cost | ||||
Land | 10,793 | |||
Building & Improvements | 7,006 | |||
Total | 17,799 | 17,799 | ||
Accumulated Depreciation | 6,691 | 6,691 | ||
Total Cost, Net of Accumulated Depreciation | 11,108 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 17,799 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 6,691 | |||
Fairfield [Member] | ||||
Initial Cost | ||||
Land | 6,731 | |||
Building & Improvements | 29,420 | |||
Costs Capitalized Subsequent to Acquisition | (610) | |||
Total Cost | ||||
Land | 6,731 | |||
Building & Improvements | 30,030 | |||
Total | 36,761 | 36,761 | ||
Accumulated Depreciation | 3,695 | 3,695 | ||
Total Cost, Net of Accumulated Depreciation | 33,066 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 36,761 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 3,695 | |||
Falcon [Member] | ||||
Initial Cost | ||||
Land | 1,340 | |||
Building & Improvements | 4,168 | |||
Costs Capitalized Subsequent to Acquisition | (442) | |||
Total Cost | ||||
Land | 1,340 | |||
Building & Improvements | 4,610 | |||
Total | 5,950 | 5,950 | ||
Accumulated Depreciation | 2,086 | 2,086 | ||
Total Cost, Net of Accumulated Depreciation | 3,864 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 5,950 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 2,086 | |||
Fellsway Plaza [Member] | ||||
Initial Cost | ||||
Land | 30,712 | |||
Building & Improvements | 7,327 | |||
Costs Capitalized Subsequent to Acquisition | (10,094) | |||
Total Cost | ||||
Land | 34,923 | |||
Building & Improvements | 13,210 | |||
Total | 48,133 | 48,133 | ||
Accumulated Depreciation | 3,886 | 3,886 | ||
Total Cost, Net of Accumulated Depreciation | 44,247 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 37,500 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 48,133 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 3,886 | |||
Fenton Marketplace [Member] | ||||
Initial Cost | ||||
Land | 2,298 | |||
Building & Improvements | 8,510 | |||
Costs Capitalized Subsequent to Acquisition | 8,240 | |||
Total Cost | ||||
Land | 512 | |||
Building & Improvements | 2,056 | |||
Total | 2,568 | 2,568 | ||
Accumulated Depreciation | 705 | 705 | ||
Total Cost, Net of Accumulated Depreciation | 1,863 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 2,568 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 705 | |||
Fleming Island [Member] | ||||
Initial Cost | ||||
Land | 3,077 | |||
Building & Improvements | 11,587 | |||
Costs Capitalized Subsequent to Acquisition | (2,979) | |||
Total Cost | ||||
Land | 3,111 | |||
Building & Improvements | 14,532 | |||
Total | 17,643 | 17,643 | ||
Accumulated Depreciation | 7,240 | 7,240 | ||
Total Cost, Net of Accumulated Depreciation | 10,403 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 17,643 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 7,240 | |||
Folsom Prairie City Crossing [Member] | ||||
Initial Cost | ||||
Land | 4,164 | |||
Building & Improvements | 13,032 | |||
Costs Capitalized Subsequent to Acquisition | (619) | |||
Total Cost | ||||
Land | 4,164 | |||
Building & Improvements | 13,651 | |||
Total | 17,815 | 17,815 | ||
Accumulated Depreciation | 5,890 | 5,890 | ||
Total Cost, Net of Accumulated Depreciation | 11,925 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 17,815 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 5,890 | |||
Fountain Square [Member] | ||||
Initial Cost | ||||
Land | 29,650 | |||
Building & Improvements | 28,984 | |||
Costs Capitalized Subsequent to Acquisition | (21) | |||
Total Cost | ||||
Land | 29,719 | |||
Building & Improvements | 28,936 | |||
Total | 58,655 | 58,655 | ||
Accumulated Depreciation | 4,835 | 4,835 | ||
Total Cost, Net of Accumulated Depreciation | 53,820 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 58,655 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 4,835 | |||
French Valley Village Center [Member] | ||||
Initial Cost | ||||
Land | 11,924 | |||
Building & Improvements | 16,856 | |||
Costs Capitalized Subsequent to Acquisition | (237) | |||
Total Cost | ||||
Land | 11,822 | |||
Building & Improvements | 17,195 | |||
Total | 29,017 | 29,017 | ||
Accumulated Depreciation | 11,234 | 11,234 | ||
Total Cost, Net of Accumulated Depreciation | 17,783 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 29,017 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 11,234 | |||
Friars Mission Center [Member] | ||||
Initial Cost | ||||
Land | 6,660 | |||
Building & Improvements | 28,021 | |||
Costs Capitalized Subsequent to Acquisition | (1,730) | |||
Total Cost | ||||
Land | 6,660 | |||
Building & Improvements | 29,751 | |||
Total | 36,411 | 36,411 | ||
Accumulated Depreciation | 14,164 | 14,164 | ||
Total Cost, Net of Accumulated Depreciation | 22,247 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 36,411 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 14,164 | |||
Garden City [Member] | ||||
Initial Cost | ||||
Land | 595 | |||
Building & Improvements | 2,509 | |||
Costs Capitalized Subsequent to Acquisition | (32) | |||
Total Cost | ||||
Land | 595 | |||
Building & Improvements | 2,541 | |||
Total | 3,136 | 3,136 | ||
Accumulated Depreciation | 243 | 243 | ||
Total Cost, Net of Accumulated Depreciation | 2,893 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 3,136 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 243 | |||
Gardens Square [Member] | ||||
Initial Cost | ||||
Land | 2,136 | |||
Building & Improvements | 8,273 | |||
Costs Capitalized Subsequent to Acquisition | (601) | |||
Total Cost | ||||
Land | 2,136 | |||
Building & Improvements | 8,874 | |||
Total | 11,010 | 11,010 | ||
Accumulated Depreciation | 4,743 | 4,743 | ||
Total Cost, Net of Accumulated Depreciation | 6,267 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 11,010 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 4,743 | |||
Gateway 101 [Member] | ||||
Initial Cost | ||||
Land | 24,971 | |||
Building & Improvements | 9,113 | |||
Costs Capitalized Subsequent to Acquisition | 1,356 | |||
Total Cost | ||||
Land | 24,971 | |||
Building & Improvements | 7,757 | |||
Total | 32,728 | 32,728 | ||
Accumulated Depreciation | 2,872 | 2,872 | ||
Total Cost, Net of Accumulated Depreciation | 29,856 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 32,728 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 2,872 | |||
Gateway Shopping Center [Member] | ||||
Initial Cost | ||||
Land | 52,665 | |||
Building & Improvements | 7,134 | |||
Costs Capitalized Subsequent to Acquisition | (8,803) | |||
Total Cost | ||||
Land | 55,346 | |||
Building & Improvements | 13,256 | |||
Total | 68,602 | 68,602 | ||
Accumulated Depreciation | 13,622 | 13,622 | ||
Total Cost, Net of Accumulated Depreciation | 54,980 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 68,602 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 13,622 | |||
Gelson's Westlake Market Plaza [Member] | ||||
Initial Cost | ||||
Land | 3,157 | |||
Building & Improvements | 11,153 | |||
Costs Capitalized Subsequent to Acquisition | (5,677) | |||
Total Cost | ||||
Land | 4,654 | |||
Building & Improvements | 15,333 | |||
Total | 19,987 | 19,987 | ||
Accumulated Depreciation | 6,098 | 6,098 | ||
Total Cost, Net of Accumulated Depreciation | 13,889 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 19,987 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 6,098 | |||
Glen Oak Plaza [Member] | ||||
Initial Cost | ||||
Land | 4,103 | |||
Building & Improvements | 12,951 | |||
Costs Capitalized Subsequent to Acquisition | (557) | |||
Total Cost | ||||
Land | 4,103 | |||
Building & Improvements | 13,508 | |||
Total | 17,611 | 17,611 | ||
Accumulated Depreciation | 3,386 | 3,386 | ||
Total Cost, Net of Accumulated Depreciation | 14,225 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 17,611 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 3,386 | |||
Glengary Shoppes [Member] | ||||
Initial Cost | ||||
Land | 8,170 | |||
Building & Improvements | 12,715 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Total Cost | ||||
Land | 8,170 | |||
Building & Improvements | 12,715 | |||
Total | 20,885 | 20,885 | ||
Accumulated Depreciation | 555 | 555 | ||
Total Cost, Net of Accumulated Depreciation | 20,330 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 20,885 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 555 | |||
Glenwood Village [Member] | ||||
Initial Cost | ||||
Land | 1,194 | |||
Building & Improvements | 5,381 | |||
Costs Capitalized Subsequent to Acquisition | (290) | |||
Total Cost | ||||
Land | 1,194 | |||
Building & Improvements | 5,671 | |||
Total | 6,865 | 6,865 | ||
Accumulated Depreciation | 4,094 | 4,094 | ||
Total Cost, Net of Accumulated Depreciation | 2,771 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 6,865 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 4,094 | |||
Golden Hills Plaza [Member] | ||||
Initial Cost | ||||
Land | 12,699 | |||
Building & Improvements | 18,482 | |||
Costs Capitalized Subsequent to Acquisition | (3,607) | |||
Total Cost | ||||
Land | 11,528 | |||
Building & Improvements | 23,260 | |||
Total | 34,788 | 34,788 | ||
Accumulated Depreciation | 7,762 | 7,762 | ||
Total Cost, Net of Accumulated Depreciation | 27,026 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 34,788 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 7,762 | |||
Grand Ridge Plaza [Member] | ||||
Initial Cost | ||||
Land | 24,208 | |||
Building & Improvements | 61,033 | |||
Costs Capitalized Subsequent to Acquisition | (3,434) | |||
Total Cost | ||||
Land | 24,879 | |||
Building & Improvements | 63,796 | |||
Total | 88,675 | 88,675 | ||
Accumulated Depreciation | 13,941 | 13,941 | ||
Total Cost, Net of Accumulated Depreciation | 74,734 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 88,675 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 13,941 | |||
Greenwood Shpping Centre [Member] | ||||
Initial Cost | ||||
Land | 6,287 | |||
Building & Improvements | 26,263 | |||
Costs Capitalized Subsequent to Acquisition | (360) | |||
Total Cost | ||||
Land | 6,287 | |||
Building & Improvements | 26,623 | |||
Total | 32,910 | 32,910 | ||
Accumulated Depreciation | 836 | 836 | ||
Total Cost, Net of Accumulated Depreciation | 32,074 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 32,910 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 836 | |||
Hammocks Town Center [Member] | ||||
Initial Cost | ||||
Land | 26,380 | |||
Building & Improvements | 27,498 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Total Cost | ||||
Land | 26,380 | |||
Building & Improvements | 27,498 | |||
Total | 53,878 | 53,878 | ||
Accumulated Depreciation | 1,018 | 1,018 | ||
Total Cost, Net of Accumulated Depreciation | 52,860 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 53,878 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 1,018 | |||
Hancock [Member] | ||||
Initial Cost | ||||
Land | 8,232 | |||
Building & Improvements | 28,260 | |||
Costs Capitalized Subsequent to Acquisition | (1,808) | |||
Total Cost | ||||
Land | 8,232 | |||
Building & Improvements | 30,068 | |||
Total | 38,300 | 38,300 | ||
Accumulated Depreciation | 15,494 | 15,494 | ||
Total Cost, Net of Accumulated Depreciation | 22,806 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 38,300 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 15,494 | |||
Harpeth Village Fieldstone [Member] | ||||
Initial Cost | ||||
Land | 2,284 | |||
Building & Improvements | 9,443 | |||
Costs Capitalized Subsequent to Acquisition | (580) | |||
Total Cost | ||||
Land | 2,284 | |||
Building & Improvements | 10,023 | |||
Total | 12,307 | 12,307 | ||
Accumulated Depreciation | 5,008 | 5,008 | ||
Total Cost, Net of Accumulated Depreciation | 7,299 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 12,307 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 5,008 | |||
Harris Crossing [Member] | ||||
Initial Cost | ||||
Land | 7,199 | |||
Building & Improvements | 3,687 | |||
Costs Capitalized Subsequent to Acquisition | (1,631) | |||
Total Cost | ||||
Land | 5,508 | |||
Building & Improvements | 3,747 | |||
Total | 9,255 | 9,255 | ||
Accumulated Depreciation | 2,113 | 2,113 | ||
Total Cost, Net of Accumulated Depreciation | 7,142 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 9,255 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 2,113 | |||
Heritage Plaza [Member] | ||||
Initial Cost | ||||
Land | 12,390 | |||
Building & Improvements | 26,097 | |||
Costs Capitalized Subsequent to Acquisition | (13,851) | |||
Total Cost | ||||
Land | 12,215 | |||
Building & Improvements | 40,123 | |||
Total | 52,338 | 52,338 | ||
Accumulated Depreciation | 16,384 | 16,384 | ||
Total Cost, Net of Accumulated Depreciation | 35,954 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 52,338 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 16,384 | |||
Hershey [Member] | ||||
Initial Cost | ||||
Land | 7 | |||
Building & Improvements | 808 | |||
Costs Capitalized Subsequent to Acquisition | (8) | |||
Total Cost | ||||
Land | 7 | |||
Building & Improvements | 816 | |||
Total | 823 | 823 | ||
Accumulated Depreciation | 395 | 395 | ||
Total Cost, Net of Accumulated Depreciation | 428 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 823 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 395 | |||
Hibernia Pavilion [Member] | ||||
Initial Cost | ||||
Land | 4,929 | |||
Building & Improvements | 5,065 | |||
Costs Capitalized Subsequent to Acquisition | (84) | |||
Total Cost | ||||
Land | 4,929 | |||
Building & Improvements | 5,149 | |||
Total | 10,078 | 10,078 | ||
Accumulated Depreciation | 2,673 | 2,673 | ||
Total Cost, Net of Accumulated Depreciation | 7,405 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 10,078 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 2,673 | |||
Hickory Creek Plaza [Member] | ||||
Initial Cost | ||||
Land | 5,629 | |||
Building & Improvements | 4,564 | |||
Costs Capitalized Subsequent to Acquisition | (439) | |||
Total Cost | ||||
Land | 5,629 | |||
Building & Improvements | 5,003 | |||
Total | 10,632 | 10,632 | ||
Accumulated Depreciation | 3,830 | 3,830 | ||
Total Cost, Net of Accumulated Depreciation | 6,802 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 10,632 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 3,830 | |||
Hillcrest Village [Member] | ||||
Initial Cost | ||||
Land | 1,600 | |||
Building & Improvements | 1,909 | |||
Costs Capitalized Subsequent to Acquisition | (51) | |||
Total Cost | ||||
Land | 1,600 | |||
Building & Improvements | 1,960 | |||
Total | 3,560 | 3,560 | ||
Accumulated Depreciation | 947 | 947 | ||
Total Cost, Net of Accumulated Depreciation | 2,613 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 3,560 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 947 | |||
Hilltop Village [Member] | ||||
Initial Cost | ||||
Land | 2,995 | |||
Building & Improvements | 4,581 | |||
Costs Capitalized Subsequent to Acquisition | (2,966) | |||
Total Cost | ||||
Land | 3,104 | |||
Building & Improvements | 7,438 | |||
Total | 10,542 | 10,542 | ||
Accumulated Depreciation | 1,672 | 1,672 | ||
Total Cost, Net of Accumulated Depreciation | 8,870 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 10,542 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 1,672 | |||
Hinsdale [Member] | ||||
Initial Cost | ||||
Land | 5,734 | |||
Building & Improvements | 16,709 | |||
Costs Capitalized Subsequent to Acquisition | (11,903) | |||
Total Cost | ||||
Land | 8,343 | |||
Building & Improvements | 26,003 | |||
Total | 34,346 | 34,346 | ||
Accumulated Depreciation | 11,456 | 11,456 | ||
Total Cost, Net of Accumulated Depreciation | 22,890 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 34,346 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 11,456 | |||
Holly Park [Member] | ||||
Initial Cost | ||||
Land | 8,975 | |||
Building & Improvements | 23,799 | |||
Costs Capitalized Subsequent to Acquisition | (177) | |||
Total Cost | ||||
Land | 8,828 | |||
Building & Improvements | 23,769 | |||
Total | 32,597 | 32,597 | ||
Accumulated Depreciation | 3,533 | 3,533 | ||
Total Cost, Net of Accumulated Depreciation | 29,064 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 32,597 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 3,533 | |||
Homestead McDonald's [Member] | ||||
Initial Cost | ||||
Land | 2,110 | |||
Building & Improvements | 119 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Total Cost | ||||
Land | 2,110 | |||
Building & Improvements | 119 | |||
Total | 2,229 | 2,229 | ||
Accumulated Depreciation | 7 | 7 | ||
Total Cost, Net of Accumulated Depreciation | 2,222 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 2,229 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 7 | |||
Howell Mill Village [Member] | ||||
Initial Cost | ||||
Land | 5,157 | |||
Building & Improvements | 14,279 | |||
Costs Capitalized Subsequent to Acquisition | (2,391) | |||
Total Cost | ||||
Land | 5,157 | |||
Building & Improvements | 16,670 | |||
Total | 21,827 | 21,827 | ||
Accumulated Depreciation | 5,564 | 5,564 | ||
Total Cost, Net of Accumulated Depreciation | 16,263 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 21,827 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 5,564 | |||
Hyde Park [Member] | ||||
Initial Cost | ||||
Land | 9,809 | |||
Building & Improvements | 39,905 | |||
Costs Capitalized Subsequent to Acquisition | (2,930) | |||
Total Cost | ||||
Land | 9,809 | |||
Building & Improvements | 42,835 | |||
Total | 52,644 | 52,644 | ||
Accumulated Depreciation | 23,693 | 23,693 | ||
Total Cost, Net of Accumulated Depreciation | 28,951 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 52,644 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 23,693 | |||
Indian Springs [Member] | ||||
Initial Cost | ||||
Land | 24,974 | |||
Building & Improvements | 25,903 | |||
Costs Capitalized Subsequent to Acquisition | (116) | |||
Total Cost | ||||
Land | 25,034 | |||
Building & Improvements | 25,959 | |||
Total | 50,993 | 50,993 | ||
Accumulated Depreciation | 2,989 | 2,989 | ||
Total Cost, Net of Accumulated Depreciation | 48,004 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 50,993 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 2,989 | |||
Indio Towne Center [Member] | ||||
Initial Cost | ||||
Land | 17,946 | |||
Building & Improvements | 32,617 | |||
Costs Capitalized Subsequent to Acquisition | (5,394) | |||
Total Cost | ||||
Land | 23,105 | |||
Building & Improvements | 32,852 | |||
Total | 55,957 | 55,957 | ||
Accumulated Depreciation | 14,848 | 14,848 | ||
Total Cost, Net of Accumulated Depreciation | 41,109 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 55,957 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 14,848 | |||
Inglewood Plaza [Member] | ||||
Initial Cost | ||||
Land | 1,300 | |||
Building & Improvements | 2,159 | |||
Costs Capitalized Subsequent to Acquisition | (627) | |||
Total Cost | ||||
Land | 1,300 | |||
Building & Improvements | 2,786 | |||
Total | 4,086 | 4,086 | ||
Accumulated Depreciation | 1,370 | 1,370 | ||
Total Cost, Net of Accumulated Depreciation | 2,716 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 4,086 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 1,370 | |||
Jefferson Square [Member] | ||||
Initial Cost | ||||
Land | 5,167 | |||
Building & Improvements | 6,445 | |||
Costs Capitalized Subsequent to Acquisition | (7,220) | |||
Total Cost | ||||
Land | 1,894 | |||
Building & Improvements | 2,498 | |||
Total | 4,392 | 4,392 | ||
Accumulated Depreciation | 660 | 660 | ||
Total Cost, Net of Accumulated Depreciation | 3,732 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 4,392 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 660 | |||
Keller Town Center [Member] | ||||
Initial Cost | ||||
Land | 2,294 | |||
Building & Improvements | 12,841 | |||
Costs Capitalized Subsequent to Acquisition | (596) | |||
Total Cost | ||||
Land | 2,404 | |||
Building & Improvements | 13,327 | |||
Total | 15,731 | 15,731 | ||
Accumulated Depreciation | 6,380 | 6,380 | ||
Total Cost, Net of Accumulated Depreciation | 9,351 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 15,731 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 6,380 | |||
Kent Place [Member] | ||||
Initial Cost | ||||
Land | 4,855 | |||
Building & Improvements | 3,586 | |||
Costs Capitalized Subsequent to Acquisition | (805) | |||
Total Cost | ||||
Land | 5,269 | |||
Building & Improvements | 3,977 | |||
Total | 9,246 | 9,246 | ||
Accumulated Depreciation | 789 | 789 | ||
Total Cost, Net of Accumulated Depreciation | 8,457 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 8,250 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 9,246 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 789 | |||
Kirkman Shoppes [Member] | ||||
Initial Cost | ||||
Land | 8,085 | |||
Building & Improvements | 27,518 | |||
Costs Capitalized Subsequent to Acquisition | (167) | |||
Total Cost | ||||
Land | 8,089 | |||
Building & Improvements | 27,681 | |||
Total | 35,770 | 35,770 | ||
Accumulated Depreciation | 838 | 838 | ||
Total Cost, Net of Accumulated Depreciation | 34,932 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 35,770 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 838 | |||
Kirkwood Commons [Member] | ||||
Initial Cost | ||||
Land | 6,772 | |||
Building & Improvements | 16,224 | |||
Costs Capitalized Subsequent to Acquisition | (666) | |||
Total Cost | ||||
Land | 6,802 | |||
Building & Improvements | 16,860 | |||
Total | 23,662 | 23,662 | ||
Accumulated Depreciation | 3,967 | 3,967 | ||
Total Cost, Net of Accumulated Depreciation | 19,695 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 9,383 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 23,662 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 3,967 | |||
Klahanie Shopping Center [Member] | ||||
Initial Cost | ||||
Land | 14,451 | |||
Building & Improvements | 20,089 | |||
Costs Capitalized Subsequent to Acquisition | (385) | |||
Total Cost | ||||
Land | 14,451 | |||
Building & Improvements | 20,474 | |||
Total | 34,925 | 34,925 | ||
Accumulated Depreciation | 1,082 | 1,082 | ||
Total Cost, Net of Accumulated Depreciation | 33,843 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 34,925 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 1,082 | |||
Kroger New Albany Center [Member] | ||||
Initial Cost | ||||
Land | 3,844 | |||
Building & Improvements | 6,599 | |||
Costs Capitalized Subsequent to Acquisition | (811) | |||
Total Cost | ||||
Land | 3,844 | |||
Building & Improvements | 7,410 | |||
Total | 11,254 | 11,254 | ||
Accumulated Depreciation | 5,220 | 5,220 | ||
Total Cost, Net of Accumulated Depreciation | 6,034 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 11,254 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 5,220 | |||
Lake mary Centre [Member] | ||||
Initial Cost | ||||
Land | 19,181 | |||
Building & Improvements | 62,066 | |||
Costs Capitalized Subsequent to Acquisition | (792) | |||
Total Cost | ||||
Land | 19,181 | |||
Building & Improvements | 62,858 | |||
Total | 82,039 | 82,039 | ||
Accumulated Depreciation | 2,142 | 2,142 | ||
Total Cost, Net of Accumulated Depreciation | 79,897 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 82,039 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 2,142 | |||
Lake Pine Plaza [Member] | ||||
Initial Cost | ||||
Land | 2,008 | |||
Building & Improvements | 7,632 | |||
Costs Capitalized Subsequent to Acquisition | (706) | |||
Total Cost | ||||
Land | 2,029 | |||
Building & Improvements | 8,317 | |||
Total | 10,346 | 10,346 | ||
Accumulated Depreciation | 4,283 | 4,283 | ||
Total Cost, Net of Accumulated Depreciation | 6,063 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 10,346 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 4,283 | |||
Lantana Outparcels [Member] | ||||
Initial Cost | ||||
Land | 3,496 | |||
Building & Improvements | 1,219 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Total Cost | ||||
Land | 3,496 | |||
Building & Improvements | 1,219 | |||
Total | 4,715 | 4,715 | ||
Accumulated Depreciation | 71 | 71 | ||
Total Cost, Net of Accumulated Depreciation | 4,644 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 4,715 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 71 | |||
Lebanon Center [Member] | ||||
Initial Cost | ||||
Land | 3,913 | |||
Building & Improvements | 7,874 | |||
Costs Capitalized Subsequent to Acquisition | (53) | |||
Total Cost | ||||
Land | 3,913 | |||
Building & Improvements | 7,927 | |||
Total | 11,840 | 11,840 | ||
Accumulated Depreciation | 5,648 | 5,648 | ||
Total Cost, Net of Accumulated Depreciation | 6,192 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 11,840 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 5,648 | |||
Littleton Square [Member] | ||||
Initial Cost | ||||
Land | 2,030 | |||
Building & Improvements | 8,859 | |||
Costs Capitalized Subsequent to Acquisition | 3,869 | |||
Total Cost | ||||
Land | 2,423 | |||
Building & Improvements | 4,597 | |||
Total | 7,020 | 7,020 | ||
Accumulated Depreciation | 1,951 | 1,951 | ||
Total Cost, Net of Accumulated Depreciation | 5,069 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 7,020 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 1,951 | |||
Lloyd King Center [Member] | ||||
Initial Cost | ||||
Land | 1,779 | |||
Building & Improvements | 10,060 | |||
Costs Capitalized Subsequent to Acquisition | (1,126) | |||
Total Cost | ||||
Land | 1,779 | |||
Building & Improvements | 11,186 | |||
Total | 12,965 | 12,965 | ||
Accumulated Depreciation | 5,870 | 5,870 | ||
Total Cost, Net of Accumulated Depreciation | 7,095 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 12,965 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 5,870 | |||
Lower Nazareth Commons [Member] | ||||
Initial Cost | ||||
Land | 15,992 | |||
Building & Improvements | 12,964 | |||
Costs Capitalized Subsequent to Acquisition | (3,585) | |||
Total Cost | ||||
Land | 16,343 | |||
Building & Improvements | 16,198 | |||
Total | 32,541 | 32,541 | ||
Accumulated Depreciation | 7,474 | 7,474 | ||
Total Cost, Net of Accumulated Depreciation | 25,067 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 32,541 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 7,474 | |||
Magnolia Shoppes [Member] | ||||
Initial Cost | ||||
Land | 16,546 | |||
Building & Improvements | 8,384 | |||
Costs Capitalized Subsequent to Acquisition | (42) | |||
Total Cost | ||||
Land | 16,546 | |||
Building & Improvements | 8,426 | |||
Total | 24,972 | 24,972 | ||
Accumulated Depreciation | 561 | 561 | ||
Total Cost, Net of Accumulated Depreciation | 24,411 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 24,972 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 561 | |||
Mandarin Landing [Member] | ||||
Initial Cost | ||||
Land | 5,942 | |||
Building & Improvements | 29,201 | |||
Costs Capitalized Subsequent to Acquisition | (290) | |||
Total Cost | ||||
Land | 5,942 | |||
Building & Improvements | 29,491 | |||
Total | 35,433 | 35,433 | ||
Accumulated Depreciation | 926 | 926 | ||
Total Cost, Net of Accumulated Depreciation | 34,507 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 35,433 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 926 | |||
Market at Colonnade Center [Member] | ||||
Initial Cost | ||||
Land | 6,455 | |||
Building & Improvements | 9,839 | |||
Costs Capitalized Subsequent to Acquisition | (69) | |||
Total Cost | ||||
Land | 6,160 | |||
Building & Improvements | 10,203 | |||
Total | 16,363 | 16,363 | ||
Accumulated Depreciation | 3,377 | 3,377 | ||
Total Cost, Net of Accumulated Depreciation | 12,986 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 16,363 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 3,377 | |||
Market at Preston Forest [Member] | ||||
Initial Cost | ||||
Land | 4,400 | |||
Building & Improvements | 11,445 | |||
Costs Capitalized Subsequent to Acquisition | (1,211) | |||
Total Cost | ||||
Land | 4,400 | |||
Building & Improvements | 12,656 | |||
Total | 17,056 | 17,056 | ||
Accumulated Depreciation | 6,483 | 6,483 | ||
Total Cost, Net of Accumulated Depreciation | 10,573 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 17,056 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 6,483 | |||
Market at Round Rock [Member] | ||||
Initial Cost | ||||
Land | 2,000 | |||
Building & Improvements | 9,676 | |||
Costs Capitalized Subsequent to Acquisition | (6,467) | |||
Total Cost | ||||
Land | 2,000 | |||
Building & Improvements | 16,143 | |||
Total | 18,143 | 18,143 | ||
Accumulated Depreciation | 8,776 | 8,776 | ||
Total Cost, Net of Accumulated Depreciation | 9,367 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 18,143 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 8,776 | |||
The Market at Springwoods Village [Member] | ||||
Initial Cost | ||||
Land | 13,457 | |||
Building & Improvements | 11,346 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Total Cost | ||||
Land | 13,457 | |||
Building & Improvements | 11,346 | |||
Total | 24,803 | 24,803 | ||
Accumulated Depreciation | 261 | 261 | ||
Total Cost, Net of Accumulated Depreciation | 24,542 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 8,569 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 24,803 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 261 | |||
Market Common Clarendon [Member] | ||||
Initial Cost | ||||
Land | 154,932 | |||
Building & Improvements | 126,328 | |||
Costs Capitalized Subsequent to Acquisition | (806) | |||
Total Cost | ||||
Land | 154,932 | |||
Building & Improvements | 127,134 | |||
Total | 282,066 | 282,066 | ||
Accumulated Depreciation | 7,561 | 7,561 | ||
Total Cost, Net of Accumulated Depreciation | 274,505 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 282,066 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 7,561 | |||
Marketplace at Briargate [Member] | ||||
Initial Cost | ||||
Land | 1,706 | |||
Building & Improvements | 4,885 | |||
Costs Capitalized Subsequent to Acquisition | (141) | |||
Total Cost | ||||
Land | 1,727 | |||
Building & Improvements | 5,005 | |||
Total | 6,732 | 6,732 | ||
Accumulated Depreciation | 2,510 | 2,510 | ||
Total Cost, Net of Accumulated Depreciation | 4,222 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 6,732 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 2,510 | |||
Marketplace Shopping Center [Member] | ||||
Initial Cost | ||||
Land | 1,287 | |||
Building & Improvements | 5,509 | |||
Costs Capitalized Subsequent to Acquisition | (5,536) | |||
Total Cost | ||||
Land | 1,330 | |||
Building & Improvements | 11,002 | |||
Total | 12,332 | 12,332 | ||
Accumulated Depreciation | 6,392 | 6,392 | ||
Total Cost, Net of Accumulated Depreciation | 5,940 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 12,332 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 6,392 | |||
Millhopper Shopping Center [Member] | ||||
Initial Cost | ||||
Land | 1,073 | |||
Building & Improvements | 5,358 | |||
Costs Capitalized Subsequent to Acquisition | (5,958) | |||
Total Cost | ||||
Land | 1,901 | |||
Building & Improvements | 10,488 | |||
Total | 12,389 | 12,389 | ||
Accumulated Depreciation | 6,578 | 6,578 | ||
Total Cost, Net of Accumulated Depreciation | 5,811 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 12,389 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 6,578 | |||
Mockingbird Common [Member] | ||||
Initial Cost | ||||
Land | 3,000 | |||
Building & Improvements | 10,728 | |||
Costs Capitalized Subsequent to Acquisition | (1,640) | |||
Total Cost | ||||
Land | 3,000 | |||
Building & Improvements | 12,368 | |||
Total | 15,368 | 15,368 | ||
Accumulated Depreciation | 6,035 | 6,035 | ||
Total Cost, Net of Accumulated Depreciation | 9,333 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 15,368 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 6,035 | |||
Monument Jackson Creek [Member] | ||||
Initial Cost | ||||
Land | 2,999 | |||
Building & Improvements | 6,765 | |||
Costs Capitalized Subsequent to Acquisition | (730) | |||
Total Cost | ||||
Land | 2,999 | |||
Building & Improvements | 7,495 | |||
Total | 10,494 | 10,494 | ||
Accumulated Depreciation | 5,379 | 5,379 | ||
Total Cost, Net of Accumulated Depreciation | 5,115 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 10,494 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 5,379 | |||
Morningside Plaza [Member] | ||||
Initial Cost | ||||
Land | 4,300 | |||
Building & Improvements | 13,951 | |||
Costs Capitalized Subsequent to Acquisition | (719) | |||
Total Cost | ||||
Land | 4,300 | |||
Building & Improvements | 14,670 | |||
Total | 18,970 | 18,970 | ||
Accumulated Depreciation | 7,400 | 7,400 | ||
Total Cost, Net of Accumulated Depreciation | 11,570 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 18,970 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 7,400 | |||
Murrayhill Marketplace [Member] | ||||
Initial Cost | ||||
Land | 2,670 | |||
Building & Improvements | 18,401 | |||
Costs Capitalized Subsequent to Acquisition | (12,799) | |||
Total Cost | ||||
Land | 2,903 | |||
Building & Improvements | 30,967 | |||
Total | 33,870 | 33,870 | ||
Accumulated Depreciation | 11,309 | 11,309 | ||
Total Cost, Net of Accumulated Depreciation | 22,561 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 33,870 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 11,309 | |||
Naples Walk [Member] | ||||
Initial Cost | ||||
Land | 18,173 | |||
Building & Improvements | 13,554 | |||
Costs Capitalized Subsequent to Acquisition | (1,060) | |||
Total Cost | ||||
Land | 18,173 | |||
Building & Improvements | 14,614 | |||
Total | 32,787 | 32,787 | ||
Accumulated Depreciation | 5,658 | 5,658 | ||
Total Cost, Net of Accumulated Depreciation | 27,129 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 32,787 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 5,658 | |||
Newberry Square [Member] | ||||
Initial Cost | ||||
Land | 2,412 | |||
Building & Improvements | 10,150 | |||
Costs Capitalized Subsequent to Acquisition | (765) | |||
Total Cost | ||||
Land | 2,412 | |||
Building & Improvements | 10,915 | |||
Total | 13,327 | 13,327 | ||
Accumulated Depreciation | 7,943 | 7,943 | ||
Total Cost, Net of Accumulated Depreciation | 5,384 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 13,327 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 7,943 | |||
Newland Center [Member] | ||||
Initial Cost | ||||
Land | 12,500 | |||
Building & Improvements | 10,697 | |||
Costs Capitalized Subsequent to Acquisition | (8,081) | |||
Total Cost | ||||
Land | 16,179 | |||
Building & Improvements | 15,099 | |||
Total | 31,278 | 31,278 | ||
Accumulated Depreciation | 7,033 | 7,033 | ||
Total Cost, Net of Accumulated Depreciation | 24,245 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 31,278 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 7,033 | |||
Nocatee Town Center [Member] | ||||
Initial Cost | ||||
Land | 10,124 | |||
Building & Improvements | 8,691 | |||
Costs Capitalized Subsequent to Acquisition | (7,106) | |||
Total Cost | ||||
Land | 10,478 | |||
Building & Improvements | 15,443 | |||
Total | 25,921 | 25,921 | ||
Accumulated Depreciation | 4,216 | 4,216 | ||
Total Cost, Net of Accumulated Depreciation | 21,705 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 25,921 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 4,216 | |||
North Hills [Member] | ||||
Initial Cost | ||||
Land | 4,900 | |||
Building & Improvements | 19,774 | |||
Costs Capitalized Subsequent to Acquisition | (1,231) | |||
Total Cost | ||||
Land | 4,900 | |||
Building & Improvements | 21,005 | |||
Total | 25,905 | 25,905 | ||
Accumulated Depreciation | 10,584 | 10,584 | ||
Total Cost, Net of Accumulated Depreciation | 15,321 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 25,905 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 10,584 | |||
Northgate Marketplace [Member] | ||||
Initial Cost | ||||
Land | 5,668 | |||
Building & Improvements | 13,727 | |||
Costs Capitalized Subsequent to Acquisition | (52) | |||
Total Cost | ||||
Land | 4,995 | |||
Building & Improvements | 14,348 | |||
Total | 19,343 | 19,343 | ||
Accumulated Depreciation | 4,060 | 4,060 | ||
Total Cost, Net of Accumulated Depreciation | 15,283 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 19,343 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 4,060 | |||
Northgate Ph II [Member] | ||||
Initial Cost | ||||
Land | 12,189 | |||
Building & Improvements | 29,050 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Total Cost | ||||
Land | 12,189 | |||
Building & Improvements | 29,050 | |||
Total | 41,239 | 41,239 | ||
Accumulated Depreciation | 1,689 | 1,689 | ||
Total Cost, Net of Accumulated Depreciation | 39,550 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 41,239 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 1,689 | |||
Northgate Plaza (Maxtown Road) [Member] | ||||
Initial Cost | ||||
Land | 1,769 | |||
Building & Improvements | 6,652 | |||
Costs Capitalized Subsequent to Acquisition | 4,807 | |||
Total Cost | ||||
Land | 2,839 | |||
Building & Improvements | 10,389 | |||
Total | 13,228 | 13,228 | ||
Accumulated Depreciation | 4,272 | 4,272 | ||
Total Cost, Net of Accumulated Depreciation | 8,956 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 13,228 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 4,272 | |||
Northgate Square [Member] | ||||
Initial Cost | ||||
Land | 5,011 | |||
Building & Improvements | 8,692 | |||
Costs Capitalized Subsequent to Acquisition | 1,026 | |||
Total Cost | ||||
Land | 5,011 | |||
Building & Improvements | 9,718 | |||
Total | 14,729 | 14,729 | ||
Accumulated Depreciation | 3,683 | 3,683 | ||
Total Cost, Net of Accumulated Depreciation | 11,046 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 14,729 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 3,683 | |||
Northlake Village [Member] | ||||
Initial Cost | ||||
Land | 2,662 | |||
Building & Improvements | 11,284 | |||
Costs Capitalized Subsequent to Acquisition | 1,511 | |||
Total Cost | ||||
Land | 2,686 | |||
Building & Improvements | 12,771 | |||
Total | 15,457 | 15,457 | ||
Accumulated Depreciation | 6,223 | 6,223 | ||
Total Cost, Net of Accumulated Depreciation | 9,234 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 15,457 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 6,223 | |||
Oak Shade Town Center [Member] | ||||
Initial Cost | ||||
Land | 6,591 | |||
Building & Improvements | 28,966 | |||
Costs Capitalized Subsequent to Acquisition | 679 | |||
Total Cost | ||||
Land | 6,591 | |||
Building & Improvements | 29,645 | |||
Total | 36,236 | 36,236 | ||
Accumulated Depreciation | 6,921 | 6,921 | ||
Total Cost, Net of Accumulated Depreciation | 29,315 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 8,149 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 36,236 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 6,921 | |||
Oakbrook Plaza [Member] | ||||
Initial Cost | ||||
Land | 4,000 | |||
Building & Improvements | 6,668 | |||
Costs Capitalized Subsequent to Acquisition | 5,152 | |||
Total Cost | ||||
Land | 4,981 | |||
Building & Improvements | 10,839 | |||
Total | 15,820 | 15,820 | ||
Accumulated Depreciation | 3,659 | 3,659 | ||
Total Cost, Net of Accumulated Depreciation | 12,161 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 15,820 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 3,659 | |||
Oakleaf Commons [Member] | ||||
Initial Cost | ||||
Land | 3,503 | |||
Building & Improvements | 11,671 | |||
Costs Capitalized Subsequent to Acquisition | 55 | |||
Total Cost | ||||
Land | 3,190 | |||
Building & Improvements | 12,039 | |||
Total | 15,229 | 15,229 | ||
Accumulated Depreciation | 5,281 | 5,281 | ||
Total Cost, Net of Accumulated Depreciation | 9,948 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 15,229 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 5,281 | |||
Ocala Corners [Member] | ||||
Initial Cost | ||||
Land | 1,816 | |||
Building & Improvements | 10,515 | |||
Costs Capitalized Subsequent to Acquisition | 475 | |||
Total Cost | ||||
Land | 1,816 | |||
Building & Improvements | 10,990 | |||
Total | 12,806 | 12,806 | ||
Accumulated Depreciation | 3,246 | 3,246 | ||
Total Cost, Net of Accumulated Depreciation | 9,560 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 4,389 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 12,806 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 3,246 | |||
Old Kings Commons [Member] | ||||
Initial Cost | ||||
Land | 3,350 | |||
Building & Improvements | 5,678 | |||
Costs Capitalized Subsequent to Acquisition | 21 | |||
Total Cost | ||||
Land | 3,350 | |||
Building & Improvements | 5,699 | |||
Total | 9,049 | 9,049 | ||
Accumulated Depreciation | 262 | 262 | ||
Total Cost, Net of Accumulated Depreciation | 8,787 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 9,049 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 262 | |||
Old St Augustine Plaza [Member] | ||||
Initial Cost | ||||
Land | 2,368 | |||
Building & Improvements | 11,405 | |||
Costs Capitalized Subsequent to Acquisition | 7,749 | |||
Total Cost | ||||
Land | 3,163 | |||
Building & Improvements | 18,359 | |||
Total | 21,522 | 21,522 | ||
Accumulated Depreciation | 6,175 | 6,175 | ||
Total Cost, Net of Accumulated Depreciation | 15,347 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 21,522 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 6,175 | |||
Pablo Plaza [Member] | ||||
Initial Cost | ||||
Land | 10,736 | |||
Building & Improvements | 19,315 | |||
Costs Capitalized Subsequent to Acquisition | 3,766 | |||
Total Cost | ||||
Land | 10,739 | |||
Building & Improvements | 23,078 | |||
Total | 33,817 | 33,817 | ||
Accumulated Depreciation | 946 | 946 | ||
Total Cost, Net of Accumulated Depreciation | 32,871 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 33,817 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 946 | |||
Paces Ferry Plaza [Member] | ||||
Initial Cost | ||||
Land | 2,812 | |||
Building & Improvements | 12,639 | |||
Costs Capitalized Subsequent to Acquisition | (462) | |||
Total Cost | ||||
Land | 2,812 | |||
Building & Improvements | 12,177 | |||
Total | 14,989 | 14,989 | ||
Accumulated Depreciation | 7,620 | 7,620 | ||
Total Cost, Net of Accumulated Depreciation | 7,369 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 14,989 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 7,620 | |||
Panther Creek [Member] | ||||
Initial Cost | ||||
Land | 14,414 | |||
Building & Improvements | 14,748 | |||
Costs Capitalized Subsequent to Acquisition | 3,763 | |||
Total Cost | ||||
Land | 15,212 | |||
Building & Improvements | 17,713 | |||
Total | 32,925 | 32,925 | ||
Accumulated Depreciation | 11,984 | 11,984 | ||
Total Cost, Net of Accumulated Depreciation | 20,941 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 32,925 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 11,984 | |||
Pavillion [Member] | ||||
Initial Cost | ||||
Land | 13,938 | |||
Building & Improvements | 23,747 | |||
Costs Capitalized Subsequent to Acquisition | 333 | |||
Total Cost | ||||
Land | 13,938 | |||
Building & Improvements | 24,080 | |||
Total | 38,018 | 38,018 | ||
Accumulated Depreciation | 879 | 879 | ||
Total Cost, Net of Accumulated Depreciation | 37,139 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 38,018 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 879 | |||
Peartree Village [Member] | ||||
Initial Cost | ||||
Land | 5,197 | |||
Building & Improvements | 19,746 | |||
Costs Capitalized Subsequent to Acquisition | (866) | |||
Total Cost | ||||
Land | 5,197 | |||
Building & Improvements | 20,612 | |||
Total | 25,809 | 25,809 | ||
Accumulated Depreciation | 11,701 | 11,701 | ||
Total Cost, Net of Accumulated Depreciation | 14,108 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 25,809 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 11,701 | |||
Persimmon Place [Member] | ||||
Initial Cost | ||||
Land | 25,975 | |||
Building & Improvements | 38,114 | |||
Costs Capitalized Subsequent to Acquisition | (17) | |||
Total Cost | ||||
Land | 26,600 | |||
Building & Improvements | 37,506 | |||
Total | 64,106 | 64,106 | ||
Accumulated Depreciation | 5,359 | 5,359 | ||
Total Cost, Net of Accumulated Depreciation | 58,747 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 64,106 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 5,359 | |||
Piedmont Peachtree Crossing [Member] | ||||
Initial Cost | ||||
Land | 45,118 | |||
Building & Improvements | 17,027 | |||
Costs Capitalized Subsequent to Acquisition | (52) | |||
Total Cost | ||||
Land | 45,118 | |||
Building & Improvements | 17,079 | |||
Total | 62,197 | 62,197 | ||
Accumulated Depreciation | 669 | 669 | ||
Total Cost, Net of Accumulated Depreciation | 61,528 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 62,197 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 669 | |||
Pike Creek [Member] | ||||
Initial Cost | ||||
Land | 5,153 | |||
Building & Improvements | 20,652 | |||
Costs Capitalized Subsequent to Acquisition | (1,962) | |||
Total Cost | ||||
Land | 5,251 | |||
Building & Improvements | 22,516 | |||
Total | 27,767 | 27,767 | ||
Accumulated Depreciation | 11,740 | 11,740 | ||
Total Cost, Net of Accumulated Depreciation | 16,027 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 27,767 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 11,740 | |||
Pine Island [Member] | ||||
Initial Cost | ||||
Land | 19,358 | |||
Building & Improvements | 29,641 | |||
Costs Capitalized Subsequent to Acquisition | (1,501) | |||
Total Cost | ||||
Land | 19,358 | |||
Building & Improvements | 31,142 | |||
Total | 50,500 | 50,500 | ||
Accumulated Depreciation | 1,276 | 1,276 | ||
Total Cost, Net of Accumulated Depreciation | 49,224 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 50,500 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 1,276 | |||
Pine Lake Village [Member] | ||||
Initial Cost | ||||
Land | 6,300 | |||
Building & Improvements | 10,991 | |||
Costs Capitalized Subsequent to Acquisition | (969) | |||
Total Cost | ||||
Land | 6,300 | |||
Building & Improvements | 11,960 | |||
Total | 18,260 | 18,260 | ||
Accumulated Depreciation | 6,120 | 6,120 | ||
Total Cost, Net of Accumulated Depreciation | 12,140 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 18,260 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 6,120 | |||
Pine Ridge Square [Member] | ||||
Initial Cost | ||||
Land | 12,565 | |||
Building & Improvements | 24,534 | |||
Costs Capitalized Subsequent to Acquisition | (116) | |||
Total Cost | ||||
Land | 12,565 | |||
Building & Improvements | 24,650 | |||
Total | 37,215 | 37,215 | ||
Accumulated Depreciation | 781 | 781 | ||
Total Cost, Net of Accumulated Depreciation | 36,434 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 37,215 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 781 | |||
Pine Tree Plaza [Member] | ||||
Initial Cost | ||||
Land | 668 | |||
Building & Improvements | 6,220 | |||
Costs Capitalized Subsequent to Acquisition | (609) | |||
Total Cost | ||||
Land | 668 | |||
Building & Improvements | 6,829 | |||
Total | 7,497 | 7,497 | ||
Accumulated Depreciation | 3,471 | 3,471 | ||
Total Cost, Net of Accumulated Depreciation | 4,026 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 7,497 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 3,471 | |||
Plaza Escuela [Member] | ||||
Initial Cost | ||||
Land | 24,677 | |||
Building & Improvements | 104,547 | |||
Costs Capitalized Subsequent to Acquisition | (23) | |||
Total Cost | ||||
Land | 24,677 | |||
Building & Improvements | 104,570 | |||
Total | 129,247 | 129,247 | ||
Accumulated Depreciation | 2,498 | 2,498 | ||
Total Cost, Net of Accumulated Depreciation | 126,749 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 129,247 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 2,498 | |||
Plaza Hermosa [Member] | ||||
Initial Cost | ||||
Land | 4,200 | |||
Building & Improvements | 10,109 | |||
Costs Capitalized Subsequent to Acquisition | (3,243) | |||
Total Cost | ||||
Land | 4,202 | |||
Building & Improvements | 13,350 | |||
Total | 17,552 | 17,552 | ||
Accumulated Depreciation | 6,138 | 6,138 | ||
Total Cost, Net of Accumulated Depreciation | 11,414 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 17,552 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 6,138 | |||
Pleasanton Plaza [Member] | ||||
Initial Cost | ||||
Land | 20,560 | |||
Building & Improvements | 26,022 | |||
Costs Capitalized Subsequent to Acquisition | (14) | |||
Total Cost | ||||
Land | 20,560 | |||
Building & Improvements | 26,036 | |||
Total | 46,596 | 46,596 | ||
Accumulated Depreciation | 830 | 830 | ||
Total Cost, Net of Accumulated Depreciation | 45,766 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 46,596 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 830 | |||
Point Royale Shopping Center [Member] | ||||
Initial Cost | ||||
Land | 17,246 | |||
Building & Improvements | 15,738 | |||
Costs Capitalized Subsequent to Acquisition | (498) | |||
Total Cost | ||||
Land | 17,730 | |||
Building & Improvements | 15,752 | |||
Total | 33,482 | 33,482 | ||
Accumulated Depreciation | 716 | 716 | ||
Total Cost, Net of Accumulated Depreciation | 32,766 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 33,482 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 716 | |||
Post Road Plaza [Member] | ||||
Initial Cost | ||||
Land | 14,997 | |||
Building & Improvements | 5,439 | |||
Costs Capitalized Subsequent to Acquisition | (150) | |||
Total Cost | ||||
Land | 14,997 | |||
Building & Improvements | 5,589 | |||
Total | 20,586 | 20,586 | ||
Accumulated Depreciation | 164 | 164 | ||
Total Cost, Net of Accumulated Depreciation | 20,422 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 20,586 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 164 | |||
Potrero Center [Member] | ||||
Initial Cost | ||||
Land | 133,422 | |||
Building & Improvements | 116,758 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Total Cost | ||||
Land | 133,422 | |||
Building & Improvements | 116,758 | |||
Total | 250,180 | 250,180 | ||
Accumulated Depreciation | 2,853 | 2,853 | ||
Total Cost, Net of Accumulated Depreciation | 247,327 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 250,180 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 2,853 | |||
Powell Street Plaza [Member] | ||||
Initial Cost | ||||
Land | 8,248 | |||
Building & Improvements | 30,716 | |||
Costs Capitalized Subsequent to Acquisition | (2,403) | |||
Total Cost | ||||
Land | 8,248 | |||
Building & Improvements | 33,119 | |||
Total | 41,367 | 41,367 | ||
Accumulated Depreciation | 14,506 | 14,506 | ||
Total Cost, Net of Accumulated Depreciation | 26,861 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 41,367 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 14,506 | |||
Powers Ferry Square [Member] | ||||
Initial Cost | ||||
Land | 3,687 | |||
Building & Improvements | 17,965 | |||
Costs Capitalized Subsequent to Acquisition | (6,848) | |||
Total Cost | ||||
Land | 5,348 | |||
Building & Improvements | 23,152 | |||
Total | 28,500 | 28,500 | ||
Accumulated Depreciation | 14,585 | 14,585 | ||
Total Cost, Net of Accumulated Depreciation | 13,915 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 28,500 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 14,585 | |||
Powers Ferry Village [Member] | ||||
Initial Cost | ||||
Land | 1,191 | |||
Building & Improvements | 4,672 | |||
Costs Capitalized Subsequent to Acquisition | (518) | |||
Total Cost | ||||
Land | 1,191 | |||
Building & Improvements | 5,190 | |||
Total | 6,381 | 6,381 | ||
Accumulated Depreciation | 3,620 | 3,620 | ||
Total Cost, Net of Accumulated Depreciation | 2,761 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 6,381 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 3,620 | |||
Preston Park [Member] | ||||
Initial Cost | ||||
Land | 763 | |||
Building & Improvements | 30,438 | |||
Costs Capitalized Subsequent to Acquisition | (641) | |||
Total Cost | ||||
Land | 763 | |||
Building & Improvements | 31,079 | |||
Total | 31,842 | 31,842 | ||
Accumulated Depreciation | 4,364 | 4,364 | ||
Total Cost, Net of Accumulated Depreciation | 27,478 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 31,842 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 4,364 | |||
Prestonbrook [Member] | ||||
Initial Cost | ||||
Land | 7,069 | |||
Building & Improvements | 8,622 | |||
Costs Capitalized Subsequent to Acquisition | (577) | |||
Total Cost | ||||
Land | 7,069 | |||
Building & Improvements | 9,199 | |||
Total | 16,268 | 16,268 | ||
Accumulated Depreciation | 6,513 | 6,513 | ||
Total Cost, Net of Accumulated Depreciation | 9,755 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 16,268 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 6,513 | |||
Prosperity Centre [Member] | ||||
Initial Cost | ||||
Land | 10,120 | |||
Building & Improvements | 27,777 | |||
Costs Capitalized Subsequent to Acquisition | (25) | |||
Total Cost | ||||
Land | 10,120 | |||
Building & Improvements | 27,802 | |||
Total | 37,922 | 37,922 | ||
Accumulated Depreciation | 913 | 913 | ||
Total Cost, Net of Accumulated Depreciation | 37,009 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 37,922 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 913 | |||
Ralphs Circle Center [Member] | ||||
Initial Cost | ||||
Land | 20,653 | |||
Building & Improvements | 6,602 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Total Cost | ||||
Land | 20,653 | |||
Building & Improvements | 6,602 | |||
Total | 27,255 | 27,255 | ||
Accumulated Depreciation | 266 | 266 | ||
Total Cost, Net of Accumulated Depreciation | 26,989 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 27,255 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 266 | |||
Red Bank [Member] | ||||
Initial Cost | ||||
Land | 10,336 | |||
Building & Improvements | 9,505 | |||
Costs Capitalized Subsequent to Acquisition | 89 | |||
Total Cost | ||||
Land | 10,110 | |||
Building & Improvements | 9,642 | |||
Total | 19,752 | 19,752 | ||
Accumulated Depreciation | 2,598 | 2,598 | ||
Total Cost, Net of Accumulated Depreciation | 17,154 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 19,752 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 2,598 | |||
Regency Commons [Member] | ||||
Initial Cost | ||||
Land | 3,917 | |||
Building & Improvements | 3,616 | |||
Costs Capitalized Subsequent to Acquisition | (236) | |||
Total Cost | ||||
Land | 3,917 | |||
Building & Improvements | 3,852 | |||
Total | 7,769 | 7,769 | ||
Accumulated Depreciation | 2,355 | 2,355 | ||
Total Cost, Net of Accumulated Depreciation | 5,414 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 7,769 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 2,355 | |||
Regency Square [Member] | ||||
Initial Cost | ||||
Land | 4,770 | |||
Building & Improvements | 25,191 | |||
Costs Capitalized Subsequent to Acquisition | (5,713) | |||
Total Cost | ||||
Land | 5,060 | |||
Building & Improvements | 30,614 | |||
Total | 35,674 | 35,674 | ||
Accumulated Depreciation | 22,980 | 22,980 | ||
Total Cost, Net of Accumulated Depreciation | 12,694 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 35,674 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 22,980 | |||
Rona Plaza [Member] | ||||
Initial Cost | ||||
Land | 1,500 | |||
Building & Improvements | 4,917 | |||
Costs Capitalized Subsequent to Acquisition | (221) | |||
Total Cost | ||||
Land | 1,500 | |||
Building & Improvements | 5,138 | |||
Total | 6,638 | 6,638 | ||
Accumulated Depreciation | 2,855 | 2,855 | ||
Total Cost, Net of Accumulated Depreciation | 3,783 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 6,638 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 2,855 | |||
Roosevelt Square [Member] | ||||
Initial Cost | ||||
Land | 40,371 | |||
Building & Improvements | 32,108 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Total Cost | ||||
Land | 40,371 | |||
Building & Improvements | 32,108 | |||
Total | 72,479 | 72,479 | ||
Accumulated Depreciation | 0 | 0 | ||
Total Cost, Net of Accumulated Depreciation | 72,479 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 72,479 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 0 | |||
San Leandro Plaza [Member] | ||||
Initial Cost | ||||
Land | 1,300 | |||
Building & Improvements | 8,226 | |||
Costs Capitalized Subsequent to Acquisition | (558) | |||
Total Cost | ||||
Land | 1,300 | |||
Building & Improvements | 8,784 | |||
Total | 10,084 | 10,084 | ||
Accumulated Depreciation | 4,335 | 4,335 | ||
Total Cost, Net of Accumulated Depreciation | 5,749 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 10,084 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 4,335 | |||
Sandy Springs [Member] | ||||
Initial Cost | ||||
Land | 6,889 | |||
Building & Improvements | 28,056 | |||
Costs Capitalized Subsequent to Acquisition | (2,562) | |||
Total Cost | ||||
Land | 6,889 | |||
Building & Improvements | 30,618 | |||
Total | 37,507 | 37,507 | ||
Accumulated Depreciation | 5,351 | 5,351 | ||
Total Cost, Net of Accumulated Depreciation | 32,156 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 37,507 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 5,351 | |||
Sawgrass Promenade [Member] | ||||
Initial Cost | ||||
Land | 10,106 | |||
Building & Improvements | 13,264 | |||
Costs Capitalized Subsequent to Acquisition | (115) | |||
Total Cost | ||||
Land | 10,106 | |||
Building & Improvements | 13,379 | |||
Total | 23,485 | 23,485 | ||
Accumulated Depreciation | 509 | 509 | ||
Total Cost, Net of Accumulated Depreciation | 22,976 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 23,485 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 509 | |||
Saugus [Member] | ||||
Initial Cost | ||||
Land | 59,949 | |||
Building & Improvements | 26,334 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Total Cost | ||||
Land | 59,949 | |||
Building & Improvements | 26,334 | |||
Total | 86,283 | 86,283 | ||
Accumulated Depreciation | 0 | 0 | ||
Total Cost, Net of Accumulated Depreciation | 86,283 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 27,000 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 86,283 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 0 | |||
Sequoia Station [Member] | ||||
Initial Cost | ||||
Land | 9,100 | |||
Building & Improvements | 18,356 | |||
Costs Capitalized Subsequent to Acquisition | (1,744) | |||
Total Cost | ||||
Land | 9,100 | |||
Building & Improvements | 20,100 | |||
Total | 29,200 | 29,200 | ||
Accumulated Depreciation | 9,798 | 9,798 | ||
Total Cost, Net of Accumulated Depreciation | 19,402 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 29,200 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 9,798 | |||
Serramonte Center [Member] | ||||
Initial Cost | ||||
Land | 383,465 | |||
Building & Improvements | 127,304 | |||
Costs Capitalized Subsequent to Acquisition | (2,991) | |||
Total Cost | ||||
Land | 383,465 | |||
Building & Improvements | 130,295 | |||
Total | 513,760 | 513,760 | ||
Accumulated Depreciation | 4,608 | 4,608 | ||
Total Cost, Net of Accumulated Depreciation | 509,152 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 513,760 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 4,608 | |||
Shaw's at Plymouth [Member] | ||||
Initial Cost | ||||
Land | 3,753 | |||
Building & Improvements | 8,582 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Total Cost | ||||
Land | 3,753 | |||
Building & Improvements | 8,582 | |||
Total | 12,335 | 12,335 | ||
Accumulated Depreciation | 303 | 303 | ||
Total Cost, Net of Accumulated Depreciation | 12,032 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 12,335 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 303 | |||
Sheridan Plaza [Member] | ||||
Initial Cost | ||||
Land | 76,375 | |||
Building & Improvements | 103,159 | |||
Costs Capitalized Subsequent to Acquisition | (730) | |||
Total Cost | ||||
Land | 76,375 | |||
Building & Improvements | 103,889 | |||
Total | 180,264 | 180,264 | ||
Accumulated Depreciation | 3,122 | 3,122 | ||
Total Cost, Net of Accumulated Depreciation | 177,142 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 55,875 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 180,264 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 3,122 | |||
Sherwood Market Center [Member] | ||||
Initial Cost | ||||
Land | 2,731 | |||
Building & Improvements | 6,360 | |||
Costs Capitalized Subsequent to Acquisition | (690) | |||
Total Cost | ||||
Land | 2,731 | |||
Building & Improvements | 7,050 | |||
Total | 9,781 | 9,781 | ||
Accumulated Depreciation | 2,887 | 2,887 | ||
Total Cost, Net of Accumulated Depreciation | 6,894 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 9,781 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 2,887 | |||
Shoppes @ 104 [Member] | ||||
Initial Cost | ||||
Land | 11,193 | |||
Building & Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition | (1,013) | |||
Total Cost | ||||
Land | 6,652 | |||
Building & Improvements | 5,554 | |||
Total | 12,206 | 12,206 | ||
Accumulated Depreciation | 2,201 | 2,201 | ||
Total Cost, Net of Accumulated Depreciation | 10,005 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 12,206 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 2,201 | |||
Loehmanns Plaza California [Member] | ||||
Initial Cost | ||||
Land | 5,420 | |||
Building & Improvements | 9,450 | |||
Costs Capitalized Subsequent to Acquisition | (1,667) | |||
Total Cost | ||||
Land | 5,420 | |||
Building & Improvements | 11,117 | |||
Total | 16,537 | 16,537 | ||
Accumulated Depreciation | 5,457 | 5,457 | ||
Total Cost, Net of Accumulated Depreciation | 11,080 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 16,537 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 5,457 | |||
Shoppes at Lago Mar [Member] | ||||
Initial Cost | ||||
Land | 7,575 | |||
Building & Improvements | 12,094 | |||
Costs Capitalized Subsequent to Acquisition | (33) | |||
Total Cost | ||||
Land | 7,575 | |||
Building & Improvements | 12,127 | |||
Total | 19,702 | 19,702 | ||
Accumulated Depreciation | 464 | 464 | ||
Total Cost, Net of Accumulated Depreciation | 19,238 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 19,702 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 464 | |||
Shoppes at Sunlake Centre [Member] | ||||
Initial Cost | ||||
Land | 13,584 | |||
Building & Improvements | 18,150 | |||
Costs Capitalized Subsequent to Acquisition | (48) | |||
Total Cost | ||||
Land | 13,584 | |||
Building & Improvements | 18,198 | |||
Total | 31,782 | 31,782 | ||
Accumulated Depreciation | 668 | 668 | ||
Total Cost, Net of Accumulated Depreciation | 31,114 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 31,782 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 668 | |||
Shoppes of Grande Oak [Member] | ||||
Initial Cost | ||||
Land | 5,091 | |||
Building & Improvements | 5,985 | |||
Costs Capitalized Subsequent to Acquisition | (393) | |||
Total Cost | ||||
Land | 5,091 | |||
Building & Improvements | 6,378 | |||
Total | 11,469 | 11,469 | ||
Accumulated Depreciation | 4,885 | 4,885 | ||
Total Cost, Net of Accumulated Depreciation | 6,584 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 11,469 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 4,885 | |||
Shoppes of Jonathan's Landing [Member] | ||||
Initial Cost | ||||
Land | 3,859 | |||
Building & Improvements | 6,243 | |||
Costs Capitalized Subsequent to Acquisition | (67) | |||
Total Cost | ||||
Land | 3,859 | |||
Building & Improvements | 6,310 | |||
Total | 10,169 | 10,169 | ||
Accumulated Depreciation | 207 | 207 | ||
Total Cost, Net of Accumulated Depreciation | 9,962 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 10,169 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 207 | |||
Shoppes of Oakbrook [Member] | ||||
Initial Cost | ||||
Land | 18,130 | |||
Building & Improvements | 45,400 | |||
Costs Capitalized Subsequent to Acquisition | (345) | |||
Total Cost | ||||
Land | 18,130 | |||
Building & Improvements | 45,745 | |||
Total | 63,875 | 63,875 | ||
Accumulated Depreciation | 1,350 | 1,350 | ||
Total Cost, Net of Accumulated Depreciation | 62,525 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 5,339 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 63,875 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 1,350 | |||
Shoppes of Silver Lakes [Member] | ||||
Initial Cost | ||||
Land | 14,544 | |||
Building & Improvements | 24,814 | |||
Costs Capitalized Subsequent to Acquisition | (15) | |||
Total Cost | ||||
Land | 14,544 | |||
Building & Improvements | 24,829 | |||
Total | 39,373 | 39,373 | ||
Accumulated Depreciation | 855 | 855 | ||
Total Cost, Net of Accumulated Depreciation | 38,518 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 39,373 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 855 | |||
Shoppes of Sunset [Member] | ||||
Initial Cost | ||||
Land | 2,678 | |||
Building & Improvements | 1,497 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Total Cost | ||||
Land | 2,678 | |||
Building & Improvements | 1,497 | |||
Total | 4,175 | 4,175 | ||
Accumulated Depreciation | 73 | 73 | ||
Total Cost, Net of Accumulated Depreciation | 4,102 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 4,175 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 73 | |||
Shoppes of Sunset II [Member] | ||||
Initial Cost | ||||
Land | 2,669 | |||
Building & Improvements | 880 | |||
Costs Capitalized Subsequent to Acquisition | 2 | |||
Total Cost | ||||
Land | 2,669 | |||
Building & Improvements | 878 | |||
Total | 3,547 | 3,547 | ||
Accumulated Depreciation | 60 | 60 | ||
Total Cost, Net of Accumulated Depreciation | 3,487 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 3,547 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 60 | |||
Shops at County Center [Member] | ||||
Initial Cost | ||||
Land | 9,957 | |||
Building & Improvements | 11,296 | |||
Costs Capitalized Subsequent to Acquisition | (922) | |||
Total Cost | ||||
Land | 10,254 | |||
Building & Improvements | 11,921 | |||
Total | 22,175 | 22,175 | ||
Accumulated Depreciation | 7,897 | 7,897 | ||
Total Cost, Net of Accumulated Depreciation | 14,278 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 22,175 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 7,897 | |||
Shops at Erwin Mill [Member] | ||||
Initial Cost | ||||
Land | 9,082 | |||
Building & Improvements | 6,124 | |||
Costs Capitalized Subsequent to Acquisition | (122) | |||
Total Cost | ||||
Land | 9,082 | |||
Building & Improvements | 6,246 | |||
Total | 15,328 | 15,328 | ||
Accumulated Depreciation | 1,734 | 1,734 | ||
Total Cost, Net of Accumulated Depreciation | 13,594 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 10,000 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 15,328 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 1,734 | |||
Shops at Johns Creek [Member] | ||||
Initial Cost | ||||
Land | 1,863 | |||
Building & Improvements | 2,014 | |||
Costs Capitalized Subsequent to Acquisition | 335 | |||
Total Cost | ||||
Land | 1,501 | |||
Building & Improvements | 2,041 | |||
Total | 3,542 | 3,542 | ||
Accumulated Depreciation | 1,241 | 1,241 | ||
Total Cost, Net of Accumulated Depreciation | 2,301 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 3,542 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 1,241 | |||
Shops at Mira Vista [Member] | ||||
Initial Cost | ||||
Land | 11,691 | |||
Building & Improvements | 9,026 | |||
Costs Capitalized Subsequent to Acquisition | (104) | |||
Total Cost | ||||
Land | 11,691 | |||
Building & Improvements | 9,130 | |||
Total | 20,821 | 20,821 | ||
Accumulated Depreciation | 1,423 | 1,423 | ||
Total Cost, Net of Accumulated Depreciation | 19,398 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 234 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 20,821 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 1,423 | |||
Shops at Quail Creek [Member] | ||||
Initial Cost | ||||
Land | 1,487 | |||
Building & Improvements | 7,717 | |||
Costs Capitalized Subsequent to Acquisition | (417) | |||
Total Cost | ||||
Land | 1,458 | |||
Building & Improvements | 8,163 | |||
Total | 9,621 | 9,621 | ||
Accumulated Depreciation | 3,119 | 3,119 | ||
Total Cost, Net of Accumulated Depreciation | 6,502 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 9,621 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 3,119 | |||
Shops on Main [Member] | ||||
Initial Cost | ||||
Land | 17,020 | |||
Building & Improvements | 27,055 | |||
Costs Capitalized Subsequent to Acquisition | (6,819) | |||
Total Cost | ||||
Land | 18,399 | |||
Building & Improvements | 32,495 | |||
Total | 50,894 | 50,894 | ||
Accumulated Depreciation | 5,622 | 5,622 | ||
Total Cost, Net of Accumulated Depreciation | 45,272 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 50,894 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 5,622 | |||
Siegen Village [Member] | ||||
Initial Cost | ||||
Land | 5,569 | |||
Building & Improvements | 12,726 | |||
Costs Capitalized Subsequent to Acquisition | (74) | |||
Total Cost | ||||
Land | 5,569 | |||
Building & Improvements | 12,800 | |||
Total | 18,369 | 18,369 | ||
Accumulated Depreciation | 676 | 676 | ||
Total Cost, Net of Accumulated Depreciation | 17,693 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 18,369 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 676 | |||
Delk Spectrum [Member] | ||||
Initial Cost | ||||
Land | 2,985 | |||
Building & Improvements | 12,001 | |||
Costs Capitalized Subsequent to Acquisition | (2,913) | |||
Total Cost | ||||
Land | 3,332 | |||
Building & Improvements | 14,567 | |||
Total | 17,899 | 17,899 | ||
Accumulated Depreciation | 7,494 | 7,494 | ||
Total Cost, Net of Accumulated Depreciation | 10,405 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 17,899 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 7,494 | |||
South Bay Village [Member] | ||||
Initial Cost | ||||
Land | 11,714 | |||
Building & Improvements | 15,580 | |||
Costs Capitalized Subsequent to Acquisition | (1,712) | |||
Total Cost | ||||
Land | 11,776 | |||
Building & Improvements | 17,230 | |||
Total | 29,006 | 29,006 | ||
Accumulated Depreciation | 3,342 | 3,342 | ||
Total Cost, Net of Accumulated Depreciation | 25,664 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 29,006 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 3,342 | |||
Southcenter [Member] | ||||
Initial Cost | ||||
Land | 1,300 | |||
Building & Improvements | 12,750 | |||
Costs Capitalized Subsequent to Acquisition | (1,885) | |||
Total Cost | ||||
Land | 1,300 | |||
Building & Improvements | 14,635 | |||
Total | 15,935 | 15,935 | ||
Accumulated Depreciation | 7,054 | 7,054 | ||
Total Cost, Net of Accumulated Depreciation | 8,881 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 15,935 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 7,054 | |||
Southpark at Cinco Ranch [Member] | ||||
Initial Cost | ||||
Land | 18,395 | |||
Building & Improvements | 11,306 | |||
Costs Capitalized Subsequent to Acquisition | (7,354) | |||
Total Cost | ||||
Land | 21,438 | |||
Building & Improvements | 15,617 | |||
Total | 37,055 | 37,055 | ||
Accumulated Depreciation | 4,200 | 4,200 | ||
Total Cost, Net of Accumulated Depreciation | 32,855 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 37,055 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 4,200 | |||
SouthPoint Crossing [Member] | ||||
Initial Cost | ||||
Land | 4,412 | |||
Building & Improvements | 12,235 | |||
Costs Capitalized Subsequent to Acquisition | (831) | |||
Total Cost | ||||
Land | 4,382 | |||
Building & Improvements | 13,096 | |||
Total | 17,478 | 17,478 | ||
Accumulated Depreciation | 6,384 | 6,384 | ||
Total Cost, Net of Accumulated Depreciation | 11,094 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 17,478 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 6,384 | |||
Starke [Member] | ||||
Initial Cost | ||||
Land | 71 | |||
Building & Improvements | 1,683 | |||
Costs Capitalized Subsequent to Acquisition | (6) | |||
Total Cost | ||||
Land | 71 | |||
Building & Improvements | 1,689 | |||
Total | 1,760 | 1,760 | ||
Accumulated Depreciation | 728 | 728 | ||
Total Cost, Net of Accumulated Depreciation | 1,032 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 1,760 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 728 | |||
Sterling Ridge [Member] | ||||
Initial Cost | ||||
Land | 12,846 | |||
Building & Improvements | 12,162 | |||
Costs Capitalized Subsequent to Acquisition | (703) | |||
Total Cost | ||||
Land | 12,846 | |||
Building & Improvements | 12,865 | |||
Total | 25,711 | 25,711 | ||
Accumulated Depreciation | 9,229 | 9,229 | ||
Total Cost, Net of Accumulated Depreciation | 16,482 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 25,711 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 9,229 | |||
Stroh Ranch [Member] | ||||
Initial Cost | ||||
Land | 4,280 | |||
Building & Improvements | 8,189 | |||
Costs Capitalized Subsequent to Acquisition | (510) | |||
Total Cost | ||||
Land | 4,280 | |||
Building & Improvements | 8,699 | |||
Total | 12,979 | 12,979 | ||
Accumulated Depreciation | 6,006 | 6,006 | ||
Total Cost, Net of Accumulated Depreciation | 6,973 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 12,979 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 6,006 | |||
Suncoast Crossing [Member] | ||||
Initial Cost | ||||
Land | 9,030 | |||
Building & Improvements | 10,764 | |||
Costs Capitalized Subsequent to Acquisition | (4,449) | |||
Total Cost | ||||
Land | 13,374 | |||
Building & Improvements | 10,869 | |||
Total | 24,243 | 24,243 | ||
Accumulated Depreciation | 5,648 | 5,648 | ||
Total Cost, Net of Accumulated Depreciation | 18,595 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 24,243 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 5,648 | |||
Tanasbourne Market [Member] | ||||
Initial Cost | ||||
Land | 3,269 | |||
Building & Improvements | 10,861 | |||
Costs Capitalized Subsequent to Acquisition | (275) | |||
Total Cost | ||||
Land | 3,269 | |||
Building & Improvements | 10,586 | |||
Total | 13,855 | 13,855 | ||
Accumulated Depreciation | 4,511 | 4,511 | ||
Total Cost, Net of Accumulated Depreciation | 9,344 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 13,855 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 4,511 | |||
Tassajara Crossing [Member] | ||||
Initial Cost | ||||
Land | 8,560 | |||
Building & Improvements | 15,464 | |||
Costs Capitalized Subsequent to Acquisition | (1,002) | |||
Total Cost | ||||
Land | 8,560 | |||
Building & Improvements | 16,466 | |||
Total | 25,026 | 25,026 | ||
Accumulated Depreciation | 8,064 | 8,064 | ||
Total Cost, Net of Accumulated Depreciation | 16,962 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 25,026 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 8,064 | |||
Tech Ridge [Member] | ||||
Initial Cost | ||||
Land | 12,945 | |||
Building & Improvements | 37,169 | |||
Costs Capitalized Subsequent to Acquisition | 128 | |||
Total Cost | ||||
Land | 12,945 | |||
Building & Improvements | 37,041 | |||
Total | 49,986 | 49,986 | ||
Accumulated Depreciation | 9,990 | 9,990 | ||
Total Cost, Net of Accumulated Depreciation | 39,996 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 6,769 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 49,986 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 9,990 | |||
The Hub Hillcrest Market [Member] | ||||
Initial Cost | ||||
Land | 18,773 | |||
Building & Improvements | 61,906 | |||
Costs Capitalized Subsequent to Acquisition | (4,952) | |||
Total Cost | ||||
Land | 19,611 | |||
Building & Improvements | 66,020 | |||
Total | 85,631 | 85,631 | ||
Accumulated Depreciation | 10,011 | 10,011 | ||
Total Cost, Net of Accumulated Depreciation | 75,620 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 85,631 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 10,011 | |||
Town Square [Member] | ||||
Initial Cost | ||||
Land | 883 | |||
Building & Improvements | 8,132 | |||
Costs Capitalized Subsequent to Acquisition | (389) | |||
Total Cost | ||||
Land | 883 | |||
Building & Improvements | 8,521 | |||
Total | 9,404 | 9,404 | ||
Accumulated Depreciation | 4,813 | 4,813 | ||
Total Cost, Net of Accumulated Depreciation | 4,591 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 9,404 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 4,813 | |||
Twin City Plaza [Member] | ||||
Initial Cost | ||||
Land | 17,245 | |||
Building & Improvements | 44,225 | |||
Costs Capitalized Subsequent to Acquisition | (2,023) | |||
Total Cost | ||||
Land | 17,263 | |||
Building & Improvements | 46,230 | |||
Total | 63,493 | 63,493 | ||
Accumulated Depreciation | 15,155 | 15,155 | ||
Total Cost, Net of Accumulated Depreciation | 48,338 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 63,493 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 15,155 | |||
Twin Peaks [Member] | ||||
Initial Cost | ||||
Land | 5,200 | |||
Building & Improvements | 25,827 | |||
Costs Capitalized Subsequent to Acquisition | (1,519) | |||
Total Cost | ||||
Land | 5,200 | |||
Building & Improvements | 27,346 | |||
Total | 32,546 | 32,546 | ||
Accumulated Depreciation | 13,055 | 13,055 | ||
Total Cost, Net of Accumulated Depreciation | 19,491 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 32,546 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 13,055 | |||
University Commons [Member] | ||||
Initial Cost | ||||
Land | 4,070 | |||
Building & Improvements | 30,785 | |||
Costs Capitalized Subsequent to Acquisition | 2 | |||
Total Cost | ||||
Land | 4,070 | |||
Building & Improvements | 30,783 | |||
Total | 34,853 | 34,853 | ||
Accumulated Depreciation | 2,982 | 2,982 | ||
Total Cost, Net of Accumulated Depreciation | 31,871 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 36,994 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 34,853 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 2,982 | |||
South Bay Regional [Member] | ||||
Initial Cost | ||||
Land | 25,705 | |||
Building & Improvements | 55,888 | |||
Costs Capitalized Subsequent to Acquisition | (98) | |||
Total Cost | ||||
Land | 25,705 | |||
Building & Improvements | 55,986 | |||
Total | 81,691 | 81,691 | ||
Accumulated Depreciation | 1,936 | 1,936 | ||
Total Cost, Net of Accumulated Depreciation | 79,755 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 81,691 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 1,936 | |||
Valencia Crossroads [Member] | ||||
Initial Cost | ||||
Land | 17,921 | |||
Building & Improvements | 17,659 | |||
Costs Capitalized Subsequent to Acquisition | (1,034) | |||
Total Cost | ||||
Land | 17,921 | |||
Building & Improvements | 18,693 | |||
Total | 36,614 | 36,614 | ||
Accumulated Depreciation | 15,223 | 15,223 | ||
Total Cost, Net of Accumulated Depreciation | 21,391 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 36,614 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 15,223 | |||
Village at La Floresta [Member] | ||||
Initial Cost | ||||
Land | 13,140 | |||
Building & Improvements | 20,571 | |||
Costs Capitalized Subsequent to Acquisition | 266 | |||
Total Cost | ||||
Land | 13,152 | |||
Building & Improvements | 20,293 | |||
Total | 33,445 | 33,445 | ||
Accumulated Depreciation | 2,166 | 2,166 | ||
Total Cost, Net of Accumulated Depreciation | 31,279 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 33,445 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 2,166 | |||
Village at Lee Airpark [Member] | ||||
Initial Cost | ||||
Land | 11,099 | |||
Building & Improvements | 12,968 | |||
Costs Capitalized Subsequent to Acquisition | (3,464) | |||
Total Cost | ||||
Land | 12,007 | |||
Building & Improvements | 15,524 | |||
Total | 27,531 | 27,531 | ||
Accumulated Depreciation | 7,734 | 7,734 | ||
Total Cost, Net of Accumulated Depreciation | 19,797 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 27,531 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 7,734 | |||
Village Center [Member] | ||||
Initial Cost | ||||
Land | 3,885 | |||
Building & Improvements | 14,131 | |||
Costs Capitalized Subsequent to Acquisition | (8,815) | |||
Total Cost | ||||
Land | 5,480 | |||
Building & Improvements | 21,351 | |||
Total | 26,831 | 26,831 | ||
Accumulated Depreciation | 8,649 | 8,649 | ||
Total Cost, Net of Accumulated Depreciation | 18,182 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 26,831 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 8,649 | |||
Walker Center [Member] | ||||
Initial Cost | ||||
Land | 3,840 | |||
Building & Improvements | 7,232 | |||
Costs Capitalized Subsequent to Acquisition | (3,798) | |||
Total Cost | ||||
Land | 3,878 | |||
Building & Improvements | 10,992 | |||
Total | 14,870 | 14,870 | ||
Accumulated Depreciation | 5,857 | 5,857 | ||
Total Cost, Net of Accumulated Depreciation | 9,013 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 14,870 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 5,857 | |||
Star's at Cambridge [Member] | ||||
Initial Cost | ||||
Land | 30,942 | |||
Building & Improvements | 13,660 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Total Cost | ||||
Land | 30,942 | |||
Building & Improvements | 13,660 | |||
Total | 44,602 | 44,602 | ||
Accumulated Depreciation | 418 | 418 | ||
Total Cost, Net of Accumulated Depreciation | 44,184 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 44,602 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 418 | |||
Star's at Quincy [Member] | ||||
Initial Cost | ||||
Land | 26,355 | |||
Building & Improvements | 10,073 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Total Cost | ||||
Land | 26,355 | |||
Building & Improvements | 10,073 | |||
Total | 36,428 | 36,428 | ||
Accumulated Depreciation | 460 | 460 | ||
Total Cost, Net of Accumulated Depreciation | 35,968 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 36,428 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 460 | |||
Star's at West Roxbury [Member] | ||||
Initial Cost | ||||
Land | 21,787 | |||
Building & Improvements | 13,573 | |||
Costs Capitalized Subsequent to Acquisition | 37 | |||
Total Cost | ||||
Land | 21,787 | |||
Building & Improvements | 13,536 | |||
Total | 35,323 | 35,323 | ||
Accumulated Depreciation | 428 | 428 | ||
Total Cost, Net of Accumulated Depreciation | 34,895 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 35,323 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 428 | |||
Welleby Plaza [Member] | ||||
Initial Cost | ||||
Land | 1,496 | |||
Building & Improvements | 7,787 | |||
Costs Capitalized Subsequent to Acquisition | (1,276) | |||
Total Cost | ||||
Land | 1,496 | |||
Building & Improvements | 9,063 | |||
Total | 10,559 | 10,559 | ||
Accumulated Depreciation | 7,003 | 7,003 | ||
Total Cost, Net of Accumulated Depreciation | 3,556 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 10,559 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 7,003 | |||
Wellington Town Square [Member] | ||||
Initial Cost | ||||
Land | 2,041 | |||
Building & Improvements | 12,131 | |||
Costs Capitalized Subsequent to Acquisition | (106) | |||
Total Cost | ||||
Land | 2,041 | |||
Building & Improvements | 12,237 | |||
Total | 14,278 | 14,278 | ||
Accumulated Depreciation | 6,856 | 6,856 | ||
Total Cost, Net of Accumulated Depreciation | 7,422 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 14,278 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 6,856 | |||
West Park Plaza [Member] | ||||
Initial Cost | ||||
Land | 5,840 | |||
Building & Improvements | 5,759 | |||
Costs Capitalized Subsequent to Acquisition | (1,415) | |||
Total Cost | ||||
Land | 5,840 | |||
Building & Improvements | 7,174 | |||
Total | 13,014 | 13,014 | ||
Accumulated Depreciation | 3,933 | 3,933 | ||
Total Cost, Net of Accumulated Depreciation | 9,081 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 13,014 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 3,933 | |||
Westchase [Member] | ||||
Initial Cost | ||||
Land | 5,302 | |||
Building & Improvements | 8,273 | |||
Costs Capitalized Subsequent to Acquisition | (509) | |||
Total Cost | ||||
Land | 5,302 | |||
Building & Improvements | 8,782 | |||
Total | 14,084 | 14,084 | ||
Accumulated Depreciation | 3,279 | 3,279 | ||
Total Cost, Net of Accumulated Depreciation | 10,805 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 6,286 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 14,084 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 3,279 | |||
Sumerlin Square [Member] | ||||
Initial Cost | ||||
Land | 1,183 | |||
Building & Improvements | 1,696 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Total Cost | ||||
Land | 1,183 | |||
Building & Improvements | 1,696 | |||
Total | 2,879 | 2,879 | ||
Accumulated Depreciation | 52 | 52 | ||
Total Cost, Net of Accumulated Depreciation | 2,827 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 2,879 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 52 | |||
Westchester Plaza [Member] | ||||
Initial Cost | ||||
Land | 3,366 | |||
Building & Improvements | 11,751 | |||
Costs Capitalized Subsequent to Acquisition | (10,802) | |||
Total Cost | ||||
Land | 4,894 | |||
Building & Improvements | 21,025 | |||
Total | 25,919 | 25,919 | ||
Accumulated Depreciation | 6,483 | 6,483 | ||
Total Cost, Net of Accumulated Depreciation | 19,436 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 25,919 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 6,483 | |||
Talega Village Center [Member] | ||||
Initial Cost | ||||
Land | 21,601 | |||
Building & Improvements | 12,869 | |||
Costs Capitalized Subsequent to Acquisition | (5) | |||
Total Cost | ||||
Land | 21,601 | |||
Building & Improvements | 12,874 | |||
Total | 34,475 | 34,475 | ||
Accumulated Depreciation | 584 | 584 | ||
Total Cost, Net of Accumulated Depreciation | 33,891 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 34,475 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 584 | |||
Tamarac Town Square [Member] | ||||
Initial Cost | ||||
Land | 12,153 | |||
Building & Improvements | 9,652 | |||
Costs Capitalized Subsequent to Acquisition | (20) | |||
Total Cost | ||||
Land | 12,153 | |||
Building & Improvements | 9,672 | |||
Total | 21,825 | 21,825 | ||
Accumulated Depreciation | 434 | 434 | ||
Total Cost, Net of Accumulated Depreciation | 21,391 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 21,825 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 434 | |||
Westchester Plaza [Member] | ||||
Initial Cost | ||||
Land | 1,857 | |||
Building & Improvements | 7,572 | |||
Costs Capitalized Subsequent to Acquisition | (371) | |||
Total Cost | ||||
Land | 1,857 | |||
Building & Improvements | 7,943 | |||
Total | 9,800 | 9,800 | ||
Accumulated Depreciation | 5,269 | 5,269 | ||
Total Cost, Net of Accumulated Depreciation | 4,531 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 9,800 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 5,269 | |||
Westlake Plaza and Center [Member] | ||||
Initial Cost | ||||
Land | 7,043 | |||
Building & Improvements | 27,195 | |||
Costs Capitalized Subsequent to Acquisition | (29,447) | |||
Total Cost | ||||
Land | 17,598 | |||
Building & Improvements | 46,087 | |||
Total | 63,685 | 63,685 | ||
Accumulated Depreciation | 19,980 | 19,980 | ||
Total Cost, Net of Accumulated Depreciation | 43,705 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 63,685 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 19,980 | |||
Westwood Village [Member] | ||||
Initial Cost | ||||
Land | 19,933 | |||
Building & Improvements | 25,301 | |||
Costs Capitalized Subsequent to Acquisition | (2,064) | |||
Total Cost | ||||
Land | 18,723 | |||
Building & Improvements | 24,447 | |||
Total | 43,170 | 43,170 | ||
Accumulated Depreciation | 12,001 | 12,001 | ||
Total Cost, Net of Accumulated Depreciation | 31,169 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 43,170 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 12,001 | |||
The Collection at Harvard Square [Member] | ||||
Initial Cost | ||||
Land | 72,910 | |||
Building & Improvements | 6,086 | |||
Costs Capitalized Subsequent to Acquisition | (14) | |||
Total Cost | ||||
Land | 72,910 | |||
Building & Improvements | 6,100 | |||
Total | 79,010 | 79,010 | ||
Accumulated Depreciation | 155 | 155 | ||
Total Cost, Net of Accumulated Depreciation | 78,855 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 79,010 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 155 | |||
The Gallery at Westbury Plaza [Member] | ||||
Initial Cost | ||||
Land | 95,771 | |||
Building & Improvements | 229,479 | |||
Costs Capitalized Subsequent to Acquisition | (489) | |||
Total Cost | ||||
Land | 95,771 | |||
Building & Improvements | 229,968 | |||
Total | 325,739 | 325,739 | ||
Accumulated Depreciation | 5,909 | 5,909 | ||
Total Cost, Net of Accumulated Depreciation | 319,830 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 325,739 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 5,909 | |||
Willow Festival [Member] | ||||
Initial Cost | ||||
Land | 1,954 | |||
Building & Improvements | 56,501 | |||
Costs Capitalized Subsequent to Acquisition | (1,553) | |||
Total Cost | ||||
Land | 1,954 | |||
Building & Improvements | 58,054 | |||
Total | 60,008 | 60,008 | ||
Accumulated Depreciation | 12,883 | 12,883 | ||
Total Cost, Net of Accumulated Depreciation | 47,125 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 39,505 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 60,008 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 12,883 | |||
The Marketplace Shopping Center [Member] | ||||
Initial Cost | ||||
Land | 8,960 | |||
Building & Improvements | 38,019 | |||
Costs Capitalized Subsequent to Acquisition | (84) | |||
Total Cost | ||||
Land | 8,960 | |||
Building & Improvements | 38,103 | |||
Total | 47,063 | 47,063 | ||
Accumulated Depreciation | 1,077 | 1,077 | ||
Total Cost, Net of Accumulated Depreciation | 45,986 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 47,063 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 1,077 | |||
The Plaza at St. Lucie West [Member] | ||||
Initial Cost | ||||
Land | 1,167 | |||
Building & Improvements | 6,754 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Total Cost | ||||
Land | 1,167 | |||
Building & Improvements | 6,754 | |||
Total | 7,921 | 7,921 | ||
Accumulated Depreciation | 215 | 215 | ||
Total Cost, Net of Accumulated Depreciation | 7,706 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 7,921 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 215 | |||
Garden City [Member] | ||||
Initial Cost | ||||
Land | 741 | |||
Building & Improvements | 9,764 | |||
Costs Capitalized Subsequent to Acquisition | (214) | |||
Total Cost | ||||
Land | 741 | |||
Building & Improvements | 9,978 | |||
Total | 10,719 | 10,719 | ||
Accumulated Depreciation | 762 | 762 | ||
Total Cost, Net of Accumulated Depreciation | 9,957 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 10,719 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 762 | |||
The Shops at Hampton Oaks [Member] | ||||
Initial Cost | ||||
Land | 822 | |||
Building & Improvements | 393 | |||
Costs Capitalized Subsequent to Acquisition | (72) | |||
Total Cost | ||||
Land | 822 | |||
Building & Improvements | 465 | |||
Total | 1,287 | 1,287 | ||
Accumulated Depreciation | 28 | 28 | ||
Total Cost, Net of Accumulated Depreciation | 1,259 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 1,287 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 28 | |||
The Village Center [Member] | ||||
Initial Cost | ||||
Land | 43,126 | |||
Building & Improvements | 13,939 | |||
Costs Capitalized Subsequent to Acquisition | (2,984) | |||
Total Cost | ||||
Land | 43,594 | |||
Building & Improvements | 16,455 | |||
Total | 60,049 | 60,049 | ||
Accumulated Depreciation | 469 | 469 | ||
Total Cost, Net of Accumulated Depreciation | 59,580 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 13,930 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 60,049 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 469 | |||
Town and Country [Member] | ||||
Initial Cost | ||||
Land | 4,247 | |||
Building & Improvements | 5,623 | |||
Costs Capitalized Subsequent to Acquisition | (5) | |||
Total Cost | ||||
Land | 4,247 | |||
Building & Improvements | 5,628 | |||
Total | 9,875 | 9,875 | ||
Accumulated Depreciation | 289 | 289 | ||
Total Cost, Net of Accumulated Depreciation | 9,586 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 9,875 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 289 | |||
Woodcroft Shopping Center [Member] | ||||
Initial Cost | ||||
Land | 1,419 | |||
Building & Improvements | 6,284 | |||
Costs Capitalized Subsequent to Acquisition | (950) | |||
Total Cost | ||||
Land | 1,421 | |||
Building & Improvements | 7,232 | |||
Total | 8,653 | 8,653 | ||
Accumulated Depreciation | 4,264 | 4,264 | ||
Total Cost, Net of Accumulated Depreciation | 4,389 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 8,653 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 4,264 | |||
Treasure Coast Plaza [Member] | ||||
Initial Cost | ||||
Land | 7,004 | |||
Building & Improvements | 22,102 | |||
Costs Capitalized Subsequent to Acquisition | (89) | |||
Total Cost | ||||
Land | 7,004 | |||
Building & Improvements | 22,191 | |||
Total | 29,195 | 29,195 | ||
Accumulated Depreciation | 726 | 726 | ||
Total Cost, Net of Accumulated Depreciation | 28,469 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 3,170 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 29,195 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 726 | |||
The Village at Tustin Legacy [Member] | ||||
Initial Cost | ||||
Land | 14,455 | |||
Building & Improvements | 23,801 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Total Cost | ||||
Land | 14,455 | |||
Building & Improvements | 23,801 | |||
Total | 38,256 | 38,256 | ||
Accumulated Depreciation | 345 | 345 | ||
Total Cost, Net of Accumulated Depreciation | 37,911 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 38,256 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 345 | |||
Woodman Van Nuys [Member] | ||||
Initial Cost | ||||
Land | 5,500 | |||
Building & Improvements | 7,195 | |||
Costs Capitalized Subsequent to Acquisition | (293) | |||
Total Cost | ||||
Land | 5,500 | |||
Building & Improvements | 7,488 | |||
Total | 12,988 | 12,988 | ||
Accumulated Depreciation | 3,747 | 3,747 | ||
Total Cost, Net of Accumulated Depreciation | 9,241 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 12,988 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 3,747 | |||
Woodmen Plaza [Member] | ||||
Initial Cost | ||||
Land | 7,621 | |||
Building & Improvements | 11,018 | |||
Costs Capitalized Subsequent to Acquisition | (761) | |||
Total Cost | ||||
Land | 7,621 | |||
Building & Improvements | 11,779 | |||
Total | 19,400 | 19,400 | ||
Accumulated Depreciation | 10,292 | 10,292 | ||
Total Cost, Net of Accumulated Depreciation | 9,108 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 19,400 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 10,292 | |||
Unigold Shopping Center [Member] | ||||
Initial Cost | ||||
Land | 4,744 | |||
Building & Improvements | 5,890 | |||
Costs Capitalized Subsequent to Acquisition | (558) | |||
Total Cost | ||||
Land | 4,744 | |||
Building & Improvements | 6,448 | |||
Total | 11,192 | 11,192 | ||
Accumulated Depreciation | 276 | 276 | ||
Total Cost, Net of Accumulated Depreciation | 10,916 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 11,192 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 276 | |||
Properties in Development [Member] | ||||
Initial Cost | ||||
Land | 0 | |||
Building & Improvements | 68,744 | |||
Costs Capitalized Subsequent to Acquisition | (245,647) | |||
Total Cost | ||||
Land | 0 | |||
Building & Improvements | 314,391 | |||
Total | 314,391 | 314,391 | ||
Accumulated Depreciation | 0 | 0 | ||
Total Cost, Net of Accumulated Depreciation | 314,391 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 314,391 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 0 | |||
Russell Ridge [Member] | ||||
Initial Cost | ||||
Land | 2,234 | |||
Building & Improvements | 6,903 | |||
Costs Capitalized Subsequent to Acquisition | (1,403) | |||
Total Cost | ||||
Land | 2,234 | |||
Building & Improvements | 8,306 | |||
Total | 10,540 | 10,540 | ||
Accumulated Depreciation | 4,847 | 4,847 | ||
Total Cost, Net of Accumulated Depreciation | 5,693 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 10,540 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 4,847 | |||
Ryanwood Square [Member] | ||||
Initial Cost | ||||
Land | 9,912 | |||
Building & Improvements | 10,714 | |||
Costs Capitalized Subsequent to Acquisition | 63 | |||
Total Cost | ||||
Land | 9,912 | |||
Building & Improvements | 10,651 | |||
Total | 20,563 | 20,563 | ||
Accumulated Depreciation | 446 | 446 | ||
Total Cost, Net of Accumulated Depreciation | 20,117 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 20,563 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 446 | |||
Salerno Vilalge [Member] | ||||
Initial Cost | ||||
Land | 1,279 | |||
Building & Improvements | 76 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Total Cost | ||||
Land | 1,279 | |||
Building & Improvements | 76 | |||
Total | 1,355 | 1,355 | ||
Accumulated Depreciation | 4 | 4 | ||
Total Cost, Net of Accumulated Depreciation | 1,351 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 1,355 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 4 | |||
Sammamish-Highlands [Member] | ||||
Initial Cost | ||||
Land | 9,300 | |||
Building & Improvements | 8,075 | |||
Costs Capitalized Subsequent to Acquisition | (8,145) | |||
Total Cost | ||||
Land | 9,592 | |||
Building & Improvements | 15,928 | |||
Total | 25,520 | 25,520 | ||
Accumulated Depreciation | 7,309 | 7,309 | ||
Total Cost, Net of Accumulated Depreciation | 18,211 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 25,520 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 7,309 | |||
Vons Circle Center [Member] | ||||
Initial Cost | ||||
Land | 48,542 | |||
Building & Improvements | 23,113 | |||
Costs Capitalized Subsequent to Acquisition | (29) | |||
Total Cost | ||||
Land | 48,542 | |||
Building & Improvements | 23,142 | |||
Total | 71,684 | 71,684 | ||
Accumulated Depreciation | 806 | 806 | ||
Total Cost, Net of Accumulated Depreciation | 70,878 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 8,283 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 71,684 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 806 | |||
San Carlos Marketplace [Member] | ||||
Initial Cost | ||||
Land | 33,977 | |||
Building & Improvements | 59,916 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Total Cost | ||||
Land | 33,977 | |||
Building & Improvements | 59,916 | |||
Total | 93,893 | 93,893 | ||
Accumulated Depreciation | 1,446 | 1,446 | ||
Total Cost, Net of Accumulated Depreciation | 92,447 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 93,893 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 1,446 | |||
Walmart Norwalk [Member] | ||||
Initial Cost | ||||
Land | 19,661 | |||
Building & Improvements | 21,994 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Total Cost | ||||
Land | 19,661 | |||
Building & Improvements | 21,994 | |||
Total | 41,655 | 41,655 | ||
Accumulated Depreciation | 777 | 777 | ||
Total Cost, Net of Accumulated Depreciation | 40,878 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 41,655 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 777 | |||
Waterstone Plaza [Member] | ||||
Initial Cost | ||||
Land | 4,857 | |||
Building & Improvements | 14,141 | |||
Costs Capitalized Subsequent to Acquisition | (12) | |||
Total Cost | ||||
Land | 4,857 | |||
Building & Improvements | 14,153 | |||
Total | 19,010 | 19,010 | ||
Accumulated Depreciation | 439 | 439 | ||
Total Cost, Net of Accumulated Depreciation | 18,571 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 19,010 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 439 | |||
Woodside Central [Member] | ||||
Initial Cost | ||||
Land | 3,500 | |||
Building & Improvements | 9,288 | |||
Costs Capitalized Subsequent to Acquisition | (586) | |||
Total Cost | ||||
Land | 3,489 | |||
Building & Improvements | 9,885 | |||
Total | 13,374 | 13,374 | ||
Accumulated Depreciation | 4,891 | 4,891 | ||
Total Cost, Net of Accumulated Depreciation | 8,483 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 13,374 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 4,891 | |||
Corporately Held Assets [Member] | ||||
Initial Cost | ||||
Land | 151 | |||
Building & Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition | (1,931) | |||
Total Cost | ||||
Land | 151 | |||
Building & Improvements | 1,931 | |||
Total | 2,082 | 2,082 | ||
Accumulated Depreciation | 1,758 | 1,758 | ||
Total Cost, Net of Accumulated Depreciation | 324 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 2,082 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 1,758 | |||
West Bird Plaza [Member] | ||||
Initial Cost | ||||
Land | 11,748 | |||
Building & Improvements | 19,779 | |||
Costs Capitalized Subsequent to Acquisition | (8) | |||
Total Cost | ||||
Land | 11,748 | |||
Building & Improvements | 19,787 | |||
Total | 31,535 | 31,535 | ||
Accumulated Depreciation | 632 | 632 | ||
Total Cost, Net of Accumulated Depreciation | 30,903 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 31,535 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 632 | |||
West Lake Shopping Center [Member] | ||||
Initial Cost | ||||
Land | 9,572 | |||
Building & Improvements | 10,781 | |||
Costs Capitalized Subsequent to Acquisition | (5) | |||
Total Cost | ||||
Land | 9,572 | |||
Building & Improvements | 10,786 | |||
Total | 20,358 | 20,358 | ||
Accumulated Depreciation | 474 | 474 | ||
Total Cost, Net of Accumulated Depreciation | 19,884 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 20,358 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 474 | |||
Land Held for Future Development [Member] | ||||
Initial Cost | ||||
Land | 62,103 | |||
Building & Improvements | 135 | |||
Costs Capitalized Subsequent to Acquisition | (9) | |||
Total Cost | ||||
Land | 62,061 | |||
Building & Improvements | 144 | |||
Total | 62,205 | 62,205 | ||
Accumulated Depreciation | 9 | 9 | ||
Total Cost, Net of Accumulated Depreciation | 62,196 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 62,205 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 9 | |||
Westbury Plaza [Member] | ||||
Initial Cost | ||||
Land | 113,606 | |||
Building & Improvements | 53,983 | |||
Costs Capitalized Subsequent to Acquisition | (745) | |||
Total Cost | ||||
Land | 113,606 | |||
Building & Improvements | 54,728 | |||
Total | 168,334 | 168,334 | ||
Accumulated Depreciation | 2,162 | 2,162 | ||
Total Cost, Net of Accumulated Depreciation | 166,172 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 88,000 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 168,334 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 2,162 | |||
Westport Plaza [Member] | ||||
Initial Cost | ||||
Land | 7,982 | |||
Building & Improvements | 8,507 | |||
Costs Capitalized Subsequent to Acquisition | (4) | |||
Total Cost | ||||
Land | 7,982 | |||
Building & Improvements | 8,511 | |||
Total | 16,493 | 16,493 | ||
Accumulated Depreciation | 353 | 353 | ||
Total Cost, Net of Accumulated Depreciation | 16,140 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 2,897 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 16,493 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 353 | |||
Westwood - Manor Care [Member] | ||||
Initial Cost | ||||
Land | 12,736 | |||
Building & Improvements | 2,493 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Total Cost | ||||
Land | 12,736 | |||
Building & Improvements | 2,493 | |||
Total | 15,229 | 15,229 | ||
Accumulated Depreciation | 54 | 54 | ||
Total Cost, Net of Accumulated Depreciation | 15,175 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 15,229 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 54 | |||
Westwood Shopping Center [Member] | ||||
Initial Cost | ||||
Land | 113,582 | |||
Building & Improvements | 20,565 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Total Cost | ||||
Land | 113,582 | |||
Building & Improvements | 20,565 | |||
Total | 134,147 | 134,147 | ||
Accumulated Depreciation | 802 | 802 | ||
Total Cost, Net of Accumulated Depreciation | 133,345 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 134,147 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 802 | |||
Whole Foods at Swampscott [Member] | ||||
Initial Cost | ||||
Land | 7,083 | |||
Building & Improvements | 8,638 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Total Cost | ||||
Land | 7,083 | |||
Building & Improvements | 8,638 | |||
Total | 15,721 | 15,721 | ||
Accumulated Depreciation | 261 | 261 | ||
Total Cost, Net of Accumulated Depreciation | 15,460 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 15,721 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 261 | |||
Williamsburg at Dunwoody [Member] | ||||
Initial Cost | ||||
Land | 7,108 | |||
Building & Improvements | 3,996 | |||
Costs Capitalized Subsequent to Acquisition | (452) | |||
Total Cost | ||||
Land | 7,118 | |||
Building & Improvements | 4,438 | |||
Total | 11,556 | 11,556 | ||
Accumulated Depreciation | 198 | 198 | ||
Total Cost, Net of Accumulated Depreciation | 11,358 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 11,556 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 198 | |||
Willows Oaks Crossing [Member] | ||||
Initial Cost | ||||
Land | 7,325 | |||
Building & Improvements | 7,847 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Total Cost | ||||
Land | 7,325 | |||
Building & Improvements | 7,847 | |||
Total | 15,172 | 15,172 | ||
Accumulated Depreciation | 1,095 | 1,095 | ||
Total Cost, Net of Accumulated Depreciation | 14,077 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 15,172 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 1,095 | |||
Willows Shopping Center [Member] | ||||
Initial Cost | ||||
Land | 48,848 | |||
Building & Improvements | 80,917 | |||
Costs Capitalized Subsequent to Acquisition | (382) | |||
Total Cost | ||||
Land | 48,876 | |||
Building & Improvements | 81,271 | |||
Total | 130,147 | 130,147 | ||
Accumulated Depreciation | 2,258 | 2,258 | ||
Total Cost, Net of Accumulated Depreciation | 127,889 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 130,147 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 2,258 | |||
Young Circle Shopping Center [Member] | ||||
Initial Cost | ||||
Land | 5,666 | |||
Building & Improvements | 10,714 | |||
Costs Capitalized Subsequent to Acquisition | (11) | |||
Total Cost | ||||
Land | 5,666 | |||
Building & Improvements | 10,725 | |||
Total | 16,391 | 16,391 | ||
Accumulated Depreciation | 360 | 360 | ||
Total Cost, Net of Accumulated Depreciation | 16,031 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 16,391 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 360 | |||
Shops at Saugus [Member] | ||||
Initial Cost | ||||
Land | 19,201 | |||
Building & Improvements | 17,984 | |||
Costs Capitalized Subsequent to Acquisition | 306 | |||
Total Cost | ||||
Land | 18,811 | |||
Building & Improvements | 18,068 | |||
Total | 36,879 | 36,879 | ||
Accumulated Depreciation | 8,289 | 8,289 | ||
Total Cost, Net of Accumulated Depreciation | 28,590 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 36,879 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 8,289 | |||
Shops at Skylake [Member] | ||||
Initial Cost | ||||
Land | 80,089 | |||
Building & Improvements | 43,837 | |||
Costs Capitalized Subsequent to Acquisition | (37) | |||
Total Cost | ||||
Land | 80,099 | |||
Building & Improvements | 43,864 | |||
Total | 123,963 | 123,963 | ||
Accumulated Depreciation | 1,597 | 1,597 | ||
Total Cost, Net of Accumulated Depreciation | 122,366 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 123,963 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 1,597 | |||
Shops at Stonewall [Member] | ||||
Initial Cost | ||||
Land | 27,511 | |||
Building & Improvements | 22,123 | |||
Costs Capitalized Subsequent to Acquisition | (8,717) | |||
Total Cost | ||||
Land | 28,633 | |||
Building & Improvements | 29,718 | |||
Total | 58,351 | 58,351 | ||
Accumulated Depreciation | 15,450 | 15,450 | ||
Total Cost, Net of Accumulated Depreciation | 42,901 | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | $ 0 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 58,351 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | $ 15,450 | |||
Building and Improvements [Member] | ||||
Total Cost | ||||
Property, Plant and Equipment, Useful Life | 40 years |
Stock-Based Compensation Stock-
Stock-Based Compensation Stock-Based Compensation (Details) - USD ($) $ in Thousands, shares in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs, Capitalized Amount | $ 3,210 | $ 2,963 | $ 2,988 |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 4.1 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 2.1 | ||
Current Fiscal Year End Date | --12-31 | ||
Restricted Stock [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Allocated Share-based Compensation Expense | $ 15,525 | 13,422 | 13,869 |
Common Stock | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Noninterest Expense Directors Fees | 303 | 193 | 200 |
Equity One Inc. [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Stock-based compensation, net of capitalization | 7,931 | 0 | 0 |
Parent Company [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Stock-based compensation, net of capitalization | $ 20,549 | $ 10,652 | $ 11,081 |
Stock-Based Compensation Restri
Stock-Based Compensation Restricted Stock (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Document Fiscal Year Focus | 2,017 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 18.00% | 18.50% | 17.10% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 1.48% | 0.88% | 0.78% |
Restricted Stock [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 570,077 | 561,261 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | 207,403 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value | $ 69.32 | ||
Stock Issued During Period, Shares, Restricted Stock Award, Forfeited | 6,063 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value | $ 66.91 | ||
Non-Vested Restricted Stock Intrinsic Value | $ 39,438 | ||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ 72.05 | $ 79.40 | $ 69.80 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value | $ 14,376 | $ 15,400 | $ 18,600 |
Time Based Awards Granted [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 118,339 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 69.47 | ||
Performance Based Awards Granted [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 38,494 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 68.95 | ||
Market Based Awards Granted [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 65,449 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 78.54 |
Saving and Retirement Plans Non
Saving and Retirement Plans Non-Qualified Deferred Compensation Plan (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items] | ||
Document Fiscal Year Focus | 2,017 | |
Assets Held-in-trust | $ 31,662 | $ 28,588 |
Deferred Compensation Liability, Current and Noncurrent | $ 31,383 | $ 28,214 |
Saving and Retirement Plans 401
Saving and Retirement Plans 401K Retirement Plan (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Current Fiscal Year End Date | --12-31 | ||
Profit Sharing Contribution, Vesting Period | 3 years | ||
Defined Contribution Plan, Cost Recognized | $ 4,100,000 | $ 3,300,000 | $ 3,100,000 |
Maximum [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Contribution Plan, Employer Discretionary Contribution Amount | $ 5,000 |