Retail Properties of America (RPAI) 10-Q 1 May 19 2019 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2019	Apr. 26, 2019
Entity Information [Line Items]
Entity Registrant Name	RETAIL PROPERTIES OF AMERICA, INC.
Entity Central Index Key	0001222840
Document Type	10-Q
Document Period End Date	Mar. 31, 2019
Amendment Flag	false
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		213,584,580

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Investment properties:
Land	$ 1,050,176	$ 1,036,901
Building and other improvements	3,590,512	3,607,484
Developments in progress	54,564	48,369
Gross investment properties	4,695,252	4,692,754
Less accumulated depreciation	(1,331,679)	(1,313,602)
Net investment properties	3,363,573	3,379,152
Cash and cash equivalents	11,855	14,722
Accounts and notes receivable, net	72,294	78,398
Acquired lease intangible assets, net	92,532	97,090
Right-of-use lease assets	51,357	0
Other assets, net	76,828	78,108
Total assets	3,668,439	3,647,470
Liabilities:
Mortgages payable, net	204,524	205,320
Unsecured notes payable, net	696,497	696,362
Unsecured term loans, net	447,562	447,367
Unsecured revolving line of credit	299,000	273,000
Accounts payable and accrued expenses	52,155	82,942
Distributions payable	35,375	35,387
Acquired lease intangible liabilities, net	68,935	86,543
Lease liabilities	91,288	0
Other liabilities	40,483	73,540
Total liabilities	1,935,819	1,900,461
Commitments and contingencies (Note 13)
Equity:
Preferred stock, $0.001 par value, 10,000 shares authorized, none issued or outstanding	0	0
Additional paid-in capital	4,505,631	4,504,702
Accumulated distributions in excess of earnings	(2,768,965)	(2,756,802)
Accumulated other comprehensive loss	(5,036)	(1,522)
Total shareholders’ equity	1,731,844	1,746,591
Noncontrolling interests	776	418
Total equity	1,732,620	1,747,009
Total liabilities and equity	3,668,439	3,647,470
Class A common stock
Equity:
Class A common stock	$ 214	$ 213

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (parenthetical) - $ / shares shares in Thousands	Mar. 31, 2019	Dec. 31, 2018
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized	10,000	10,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Class A common stock
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	475,000	475,000
Common stock, shares issued	213,585	213,176
Common stock, shares outstanding	213,585	213,176

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Other Comprehensive (Loss) Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Revenues:
Lease income	$ 122,703	$ 124,842
Expenses:
Operating expenses	17,686	20,255
Real estate taxes	18,403	20,468
Depreciation and amortization	43,267	45,228
Provision for impairment of investment properties	0	592
General and administrative expenses	10,499	12,495
Total expenses	89,855	99,038
Other (expense) income:
Interest expense	(17,430)	(18,765)
Gain on sales of investment properties	8,449	34,519
Other (expense) income, net	(659)	222
Net income	23,208	41,780
Net income attributable to noncontrolling interests	0	0
Net income attributable to common shareholders	$ 23,208	$ 41,780
Earnings per common share – basic and diluted:
Net income per common share attributable to common shareholders	$ 0.11	$ 0.19
Net income	$ 23,208	$ 41,780
Other comprehensive (loss) income:
Net unrealized (loss) gain on derivative instruments (Note 8)	(3,514)	2,754
Comprehensive income attributable to the Company	$ 19,694	$ 44,534
Weighted average number of common shares outstanding – basic	212,850	218,849
Weighted average number of common shares outstanding – diluted	213,223	219,403

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Equity - USD ($) shares in Thousands, $ in Thousands	Total	Common stockClass A common stock	Additional paid-in capital	Accumulated distributions in excess of earnings	Accumulated other comprehensive income	Total shareholders' equity	Noncontrolling interests
Increase (decrease) in shareholders' equity
Cumulative effect of accounting change				$ (12)	$ 12
Balance (in shares) at Dec. 31, 2017		219,237
Balance at Dec. 31, 2017	$ 1,885,700	$ 219	$ 4,574,428	(2,690,021)	1,074	$ 1,885,700	$ 0
Increase (decrease) in shareholders' equity
Net income	41,780			41,780		41,780
Other comprehensive income (loss)	2,754				2,754	2,754
Distributions declared to common shareholders	(36,353)			(36,353)		(36,353)
Issuance of common stock (in shares)		59
Issuance of restricted shares (in shares)		305
Stock-based compensation expense, net of forfeitures	2,133		2,133			2,133
Shares withheld for employee taxes (in shares)		(112)
Shares withheld for employee taxes	(1,370)		(1,370)			(1,370)
Balance (in shares) at Mar. 31, 2018		219,489
Balance at Mar. 31, 2018	1,894,644	$ 219	4,575,191	(2,684,606)	3,840	1,894,644	0
Balance (in shares) at Dec. 31, 2018		213,176
Balance at Dec. 31, 2018	1,747,009	$ 213	4,504,702	(2,756,802)	(1,522)	1,746,591	418
Increase (decrease) in shareholders' equity
Net income	23,208			23,208		23,208
Other comprehensive income (loss)	(3,514)				(3,514)	(3,514)
Contributions from noncontrolling interests	358						358
Distributions declared to common shareholders	(35,371)			(35,371)		(35,371)
Issuance of common stock (in shares)		111
Issuance of restricted shares (in shares)		392
Issuance of restricted shares	1	$ 1				1
Stock-based compensation expense, net of forfeitures (in shares)		(9)
Stock-based compensation expense, net of forfeitures	1,966		1,966			1,966
Shares withheld for employee taxes (in shares)		(85)
Shares withheld for employee taxes	(1,037)		(1,037)			(1,037)
Balance (in shares) at Mar. 31, 2019		213,585
Balance at Mar. 31, 2019	$ 1,732,620	$ 214	$ 4,505,631	$ (2,768,965)	$ (5,036)	$ 1,731,844	$ 776

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Equity (parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Distributions declared to common shareholders (in dollars per share)	$ 0.165625	$ 0.165625

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Cash flows from operating activities:
Net income	$ 23,208	$ 41,780
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	43,267	45,228
Provision for impairment of investment properties	0	592
Gain on sales of investment properties	(8,449)	(34,519)
Amortization of loan fees and debt premium and discount, net	798	940
Amortization of stock-based compensation	1,966	2,133
Debt prepayment fees	0	974
Payment of leasing fees and inducements	(2,739)	(2,147)
Changes in accounts receivable, net	6,312	2,879
Changes in right-of-use lease assets	485	0
Changes in accounts payable and accrued expenses, net	(25,058)	(25,202)
Changes in lease liabilities	(150)	0
Changes in other operating assets and liabilities, net	398	3,530
Other, net	(3,083)	(2,023)
Net cash provided by operating activities	36,955	34,165
Cash flows from investing activities:
Purchase of investment properties	(25,204)	0
Capital expenditures and tenant improvements	(18,746)	(11,692)
Proceeds from sales of investment properties	21,605	112,214
Investment in developments in progress	(5,841)	(2,848)
Net cash (used in) provided by investing activities	(28,186)	97,674
Cash flows from financing activities:
Principal payments on mortgages payable	(764)	(11,788)
Proceeds from unsecured revolving line of credit	94,000	55,000
Repayments of unsecured revolving line of credit	(68,000)	(180,000)
Payment of loan fees and deposits	(4)	0
Debt prepayment fees	0	(974)
Distributions paid	(35,383)	(36,311)
Other, net	(679)	(1,370)
Net cash used in financing activities	(10,830)	(175,443)
Net decrease in cash, cash equivalents and restricted cash	(2,061)	(43,604)
Cash, cash equivalents and restricted cash, at beginning of period	19,601	86,335	$ 86,335
Cash, cash equivalents and restricted cash, at end of period	17,540	42,731	19,601
Supplemental cash flow disclosure, including non-cash activities:
Cash paid for interest, net of interest capitalized	16,216	17,636
Cash paid for amounts included in the measurement of operating lease liabilities	1,679	0
Distributions payable	35,375	36,353	35,387
Accrued capital expenditures and tenant improvements	9,407	6,581
Accrued leasing fees and inducements	754	444
Accrued redevelopment costs	395	1,129
Developments in progress placed in service	0	6,819
Lease liabilities arising from obtaining right-of-use lease assets	103,519	0
Straight-line ground rent liabilities reclassified to right-of-use lease asset	31,030	0
Straight-line office rent liability reclassified to right-of-use lease asset	507	0
Acquired ground lease intangible liability reclassified to right-of-use lease asset	11,898	0
Purchase of investment properties (after credits at closing):
Net investment properties	(23,894)	0
Accounts receivable, acquired lease intangibles and other assets	(1,694)	0
Accounts payable, acquired lease intangibles and other liabilities	384	0
Purchase of investment properties (after credits at closing)	(25,204)	0
Proceeds from sales of investment properties:
Net investment properties	17,456	80,460
Right-of-use lease assets	8,242	0
Accounts receivable, acquired lease intangibles and other assets	1,417	3,403
Lease liabilities	(11,326)	0
Accounts payable, acquired lease intangibles and other liabilities	(2,633)	(6,168)
Gain on sales of investment properties	8,449	34,519
Proceeds from sales of investment properties	21,605	112,214
Reconciliation of cash, cash equivalents and restricted cash reported on the Company’s condensed consolidated balance sheets to such amounts shown in the Company’s condensed consolidated statements of cash flows:
Cash and cash equivalents, at beginning of period	14,722	25,185	25,185
Restricted cash, at beginning of period (included in “Other assets, net”)	4,879	61,150	61,150
Cash, cash equivalents and restricted cash, at beginning of period	19,601	86,335	86,335
Cash and cash equivalents, at end of period	11,855	33,533	14,722
Restricted cash, at end of period (included in “Other assets, net”)	5,685	9,198	4,879
Cash, cash equivalents and restricted cash, at end of period	$ 17,540	$ 42,731	$ 19,601

Organization and Basis of Prese

Organization and Basis of Presentation	3 Months Ended
	Mar. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Basis of Presentation	ORGANIZATION AND BASIS OF PRESENTATION Retail Properties of America, Inc. (the Company) was formed on March 5, 2003 and its primary purpose is to own and operate high quality, strategically located open-air shopping centers, including properties with a mixed-use component. As of March 31, 2019 , the Company owned 105 retail operating properties in the United States. The Company has elected to be taxed as a real estate investment trust (REIT) under the Internal Revenue Code of 1986, as amended (the Code). The Company believes it qualifies for taxation as a REIT and, as such, the Company generally will not be subject to U.S. federal income tax on taxable income that is distributed to its shareholders. If the Company fails to qualify as a REIT in any taxable year, the Company will be subject to U.S. federal income tax on its taxable income. Even if the Company qualifies for taxation as a REIT, the Company may be subject to certain state and local taxes on its income, property or net worth and U.S. federal income and excise taxes on its undistributed income. The Company has one wholly-owned subsidiary that has jointly elected to be treated as a taxable REIT subsidiary (TRS) and is subject to U.S. federal, state and local income taxes at regular corporate tax rates. The income tax expense incurred by the TRS did not have a material impact on the Company’s accompanying condensed consolidated financial statements. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions. These estimates and assumptions affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. For example, significant estimates and assumptions have been made with respect to capitalization of development costs, provision for impairment, including estimates of holding periods, capitalization rates and discount rates (where applicable), and initial valuations and related amortization periods of deferred costs and intangibles, particularly with respect to property acquisitions and initial recognition of right-of-use lease assets and lease liabilities. Actual results could differ from these estimates. All share amounts and dollar amounts in this Quarterly Report on Form 10-Q, including the condensed consolidated financial statements and notes thereto, are stated in thousands with the exception of per share amounts and per square foot amounts. The accompanying condensed consolidated financial statements include the accounts of the Company, as well as all wholly-owned subsidiaries and any consolidated variable interest entities (VIEs). All intercompany balances and transactions have been eliminated in consolidation. Wholly-owned subsidiaries generally consist of limited liability companies, limited partnerships and statutory trusts. The Company’s property ownership as of March 31, 2019 is summarized below: Property Count Retail operating properties 105 Redevelopment projects: Circle East – redevelopment portion (a) — Plaza del Lago – multi-family rental units (a) — Carillon (b) 1 Total number of properties 106 (a) The operating portion of this property is included within the property count for retail operating properties. (b)

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Refer to the Company’s 2018 Annual Report on Form 10-K for a summary of its significant accounting policies. Except as disclosed below, there have been no changes to the Company’s significant accounting policies in the three months ended March 31, 2019 . Recently Adopted Accounting Pronouncements Effective January 1, 2019, the Company adopted Accounting Standards Update (ASU) 2016-02, Leases . This new guidance, including related ASUs that were subsequently issued, requires lessees to recognize a liability to make lease payments and a right-of-use lease (ROU) asset, initially measured at the present value of lease payments, for both operating and financing leases. For leases with a term of 12 months or less, lessees are permitted to make an accounting policy election, by class of underlying asset, to not recognize lease liabilities and lease assets. The guidance allows lessees and lessors to make an accounting policy election, by class of underlying asset, to not separate non-lease components from lease components. The guidance also provides an optional transition method which would allow entities to initially apply the new guidance in the period of adoption, recognizing a cumulative-effect adjustment to the opening balance of retained earnings, if necessary, and provides a package of three practical expedients whereby companies are not required to reassess (i) whether any expired or existing contracts are or contain leases, (ii) the lease classification (operating vs. capital/financing leases) for any expired or existing leases and (iii) initial direct costs for any existing leases (Package of Three Practical Expedients), as well as practical expedients whereby companies are not required to reassess whether land easements contain a lease and can use hindsight in determining the lease term and assessing impairment of the ROU asset. Further, the guidance requires lease-related revenues to be presented in a single line item rather than the previous presentation which separated them between “Rental income,” “Tenant recovery income” and “Other property income” on the condensed consolidated statements of operations and other comprehensive (loss) income. The guidance also requires bad debt to be presented as an adjustment to revenue rather than the previous presentation within “Operating expenses” on the condensed consolidated statements of operations and other comprehensive (loss) income. Finally, only incremental direct leasing costs may be capitalized under the new guidance, which is consistent with the Company’s previous policies. The Company adopted this new guidance on January 1, 2019, applied the requirements as of that date, elected the practical expedient to not separate non-lease components from lease components for all classes of assets, elected the Package of Three Practical Expedients as well as the practical expedient related to not reassessing whether land easements contain a lease. The Company did not elect the practical expedient related to hindsight for determining the lease term or assessing impairment of ROU assets. There was no retained earnings adjustment as a result of the adoption. Upon adoption, the Company recognized lease liabilities and ROU assets of $103,432 for operating leases where it is the lessee related to long-term ground leases and office leases, which are presented as “Right-of-use lease assets” and “Lease liabilities,” respectively, in the accompanying condensed consolidated balance sheets. The ROU assets are presented net of the Company’s existing straight-line ground rent liabilities of $31,030 and acquired ground lease intangible liability of $11,898 as of January 1, 2019. For leases with a term of 12 months or less, the Company made an accounting policy election to not recognize lease liabilities and lease assets. For leases where the Company is the lessor, the Company elected the practical expedient to not separate non-lease components from lease components for all classes of assets. In addition, the Company has presented all income as a single line item within “Lease income” in the accompanying condensed consolidated statements of operations and other comprehensive (loss) income for the current and comparative period. This resulted in the reclassification of (i) $94,455 of revenue previously presented as “Rental income,” (ii) $28,090 of revenue previously presented as “Tenant recovery income” and (iii) $2,297 of revenue previously presented as “Other property income” for the three months ended March 31, 2018 into “Lease income” in the accompanying condensed consolidated statements of operations and other comprehensive (loss) income. Upon adoption, the Company began recording bad debt as an adjustment to “Lease income” in the accompanying condensed consolidated statements of operations and other comprehensive (loss) income. For the three months ended March 31, 2018 , bad debt is presented within “Operating expenses” in the accompanying condensed consolidated statements of operations and other comprehensive (loss) income. The guidance regarding capitalization of leasing costs did not have any effect on the Company’s condensed consolidated financial statements. Refer to Note 6 to the condensed consolidated financial statements for further discussion. Effective January 1, 2019, the Company adopted ASU 2018-16, Derivatives and Hedging , due to the Company’s early adoption of ASU 2017-12, Derivatives and Hedging . This new guidance permits use of the Overnight Index Swap (OIS) Rate based on the Secured Overnight Financing Rate (SOFR) as a U.S. benchmark interest rate for hedge accounting purposes. SOFR represents the fifth permissible U.S. benchmark rate in addition to the following current eligible benchmark interest rates: (i) direct Treasury obligations of the U.S. government (UST), (ii) the London Interbank Offered Rate (LIBOR) swap rate, (iii) the OIS Rate based on the Fed Funds Effective Rate and (iv) the Securities Industry and Financial Markets Association (SIFMA) Municipal Swap Rate. The adoption of this pronouncement did not have any effect on the Company’s condensed consolidated financial statements as the Company did not change its benchmark rate. Recently Issued Accounting Pronouncements In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses . This new guidance is effective January 1, 2020, with early adoption permitted beginning January 1, 2019, and replaces the current incurred loss impairment methodology with a methodology that reflects expected credit losses. Financial assets that are measured at amortized cost will be required to be presented at the net amount expected to be collected with an allowance for credit losses deducted from the amortized cost basis. In addition, an entity must consider broader information in developing its expected credit loss estimate, including the use of forecasted information. In November 2018, the FASB issued ASU 2018-19, Codification Improvements to Topic 326, Financial Instruments – Credit Losses , which clarifies that receivables arising from operating leases are not within the scope of this new guidance. Generally, the pronouncement requires a modified retrospective method of adoption. The Company will continue to evaluate the impact of this guidance until it becomes effective. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement

Acquisitions and Developments i

Acquisitions and Developments in Progress	3 Months Ended
	Mar. 31, 2019
Business Combinations [Abstract]
Acquisitions	ACQUISITIONS AND DEVELOPMENTS IN PROGRESS During the three months ended March 31, 2019 , the Company acquired North Benson Center, a 70,500 square foot multi-tenant retail operating property located in the Seattle metropolitan statistical area (MSA), for an acquisition price of $25,340 . The acquisition price does not include capitalized closing costs and adjustments totaling $90 . The Company did not acquire any properties during the three months ended March 31, 2018 . The following table summarizes the acquisition date values, before prorations, the Company recorded in conjunction with the acquisition discussed above: Three Months Ended March 31, 2019 Land $ 13,275 Building and other improvements, net 10,619 Acquired lease intangible assets (a) 1,770 Acquired lease intangible liabilities (b) (234 ) Net assets acquired $ 25,430 (a) The weighted average amortization period for acquired lease intangible assets is five years . (b) The weighted average amortization period for acquired lease intangible liabilities is five years . The above acquisition was funded using a combination of available cash on hand, proceeds from dispositions and proceeds from the Company’s unsecured revolving line of credit and was considered an asset acquisition and, as such, transaction costs were capitalized upon closing. Developments in Progress The Company’s developments in progress are as follows: Property Name MSA March 31, 2019 December 31, 2018 Active developments/redevelopments: Circle East – redevelopment portion (a) Baltimore $ 28,227 $ 22,383 Plaza del Lago – multi-family rental units (b) Chicago 887 536 29,114 22,919 Land held for development: One Loudoun Uptown (c) Washington, D.C. 25,450 25,450 Total developments in progress $ 54,564 $ 48,369 (a) During the year ended December 31, 2018, the Company received net proceeds of $11,820 in connection with the sale of air rights to a third party to develop multi-family rental units at the redevelopment portion of Circle East, which is shown net in the “Developments in progress” balance as of March 31, 2019 in the accompanying condensed consolidated balance sheets. (b) Redevelopment of the existing multi-family rental units commenced in 2018. (c) During the three months ended December 31, 2018, the Company acquired One Loudoun Uptown, a 58 -acre land parcel, of which 32 acres are developable. Variable Interest Entities During the year ended December 31, 2018, the Company entered into two joint ventures related to expansion and redevelopment projects at One Loudoun Downtown and Carillon, of which the Company owns 90% and 95% , respectively. The joint ventures are considered VIEs and the Company is considered the primary beneficiary for each joint venture, as it has a controlling financial interest in each. As such, it has consolidated these joint ventures and presented the joint venture partners’ interests as noncontrolling interests. The projects are in the predevelopment stage and each is currently being funded evenly by the Company and the respective joint venture partner. As of March 31, 2019 and December 31, 2018 , the Company had recorded $614 and $414 , respectively, of predevelopment costs related to the expansion project at One Loudoun Downtown and $938 and $422 , respectively, related to the redevelopment project at Carillon. These predevelopment costs are included within “Other assets, net” in the accompanying condensed consolidated balance sheets and no income was attributed to the noncontrolling interests during the three months ended March 31, 2019 and 2018

Dispositions

Dispositions	3 Months Ended
	Mar. 31, 2019
Discontinued Operations and Disposal Groups [Abstract]
Dispositions	DISPOSITIONS The Company closed on the following disposition during the three months ended March 31, 2019 : Date Property Name Property Type Square Footage Consideration Aggregate Proceeds, Net (a) Gain March 8, 2019 Edwards Multiplex – Fresno (a) Single-user retail 94,600 $ 25,850 $ 21,605 $ 8,449 94,600 $ 25,850 $ 21,605 $ 8,449 (a) Aggregate proceeds are net of transaction costs. Prior to the disposition, the Company was subject to a ground lease whereby it leased the underlying land from a third party. The ground lease was assumed by the purchaser in connection with the disposition. The Company closed on the following dispositions during the three months ended March 31, 2018: Date Property Name Property Type Square Footage Consideration Aggregate Proceeds, Net (a) Gain January 19, 2018 Crown Theater Single-user retail 74,200 $ 6,900 $ 6,350 $ 2,952 February 15, 2018 Cranberry Square Multi-tenant retail 195,200 23,500 23,163 10,174 March 7, 2018 Rite Aid Store (Eckerd)–Crossville, TN Single-user retail 13,800 1,800 1,768 157 March 20, 2018 Home Depot Plaza (b) Multi-tenant retail 135,600 16,250 15,873 — March 21, 2018 Governor's Marketplace Multi-tenant retail 243,100 23,500 20,993 7,429 March 28, 2018 Stony Creek I & Stony Creek II (c) Multi-tenant retail 204,800 32,800 32,078 11,628 866,700 $ 104,750 $ 100,225 $ 32,340 (a) Aggregate proceeds are net of transaction costs and exclude $169 of condemnation proceeds, which did not result in any additional gain recognition. (b) The Company repaid a $10,750 mortgage payable in conjunction with the disposition of the property. (c) The terms of the disposition of Stony Creek I and Stony Creek II were negotiated as a single transaction. During the three months ended March 31, 2018, the Company also received net proceeds of $11,820 and recognized a gain of $2,179 in connection with the sale of air rights at the redevelopment portion of Circle East. The aggregate proceeds from the property dispositions and other transactions during the three months ended March 31, 2018 totaled $112,214 , with aggregate gains of $34,519 . None of the dispositions completed during the three months ended March 31, 2019 and 2018 qualified for discontinued operations treatment and none are considered individually significant. As of March 31, 2019

Equity Compensation Plans

Equity Compensation Plans	3 Months Ended
	Mar. 31, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Equity Compensation Plans	EQUITY COMPENSATION PLANS The Company’s Amended and Restated 2014 Long-Term Equity Compensation Plan, subject to certain conditions, authorizes the issuance of incentive and non-qualified stock options, restricted stock and restricted stock units, stock appreciation rights and other similar awards to the Company’s employees, non-employee directors, consultants and advisors in connection with compensation and incentive arrangements that may be established by the Company’s board of directors or executive management. The following table summarizes the Company’s unvested restricted shares as of and for the three months ended March 31, 2019 : Unvested Weighted Average Balance as of January 1, 2019 440 $ 13.40 Shares granted (a) 392 $ 12.29 Shares vested (156 ) $ 13.95 Shares forfeited (9 ) $ 13.02 Balance as of March 31, 2019 (b) 667 $ 12.62 (a) Shares granted vest over periods ranging from 0.9 years to three years in accordance with the terms of applicable award agreements. (b) As of March 31, 2019 , total unrecognized compensation expense related to unvested restricted shares was $4,380 , which is expected to be amortized over a weighted average term of 1.6 years . The following table summarizes the Company’s unvested performance restricted stock units (RSUs) as of and for the three months ended March 31, 2019 : Unvested RSUs Weighted Average Grant Date Fair Value per RSU RSUs eligible for future conversion as of January 1, 2019 649 $ 14.54 RSUs granted (a) 382 $ 10.98 Conversion of RSUs to common stock and restricted shares (b) (192 ) $ 13.74 RSUs eligible for future conversion as of March 31, 2019 (c) 839 $ 13.10 (a) Assumptions and inputs as of the grant date included a risk-free interest rate of 2.47% , the Company’s historical common stock performance relative to the peer companies within the National Association of Real Estate Investment Trusts (NAREIT) Shopping Center Index and the Company’s common stock dividend yield of 6.07% . Subject to continued employment, in 2022, following the performance period which concludes on December 31, 2021, one-third of the RSUs that are earned will convert into shares of common stock and two-thirds will convert into restricted shares with a one year vesting term. (b) On February 4, 2019, 192 RSUs converted into 82 shares of common stock and 125 restricted shares that will vest on December 31, 2019, subject to continued employment through such date, after applying a conversion rate of 107.5% based upon the Company’s Total Shareholder Return (TSR) relative to the TSRs of its peer companies, for the performance period that concluded on December 31, 2018. An additional 29 shares of common stock were also issued representing the dividends that would have been paid on the earned awards during the performance period. (c) As of March 31, 2019 , total unrecognized compensation expense related to unvested RSUs was $7,291 , which is expected to be amortized over a weighted average term of 2.5 years . During the three months ended March 31, 2019 and 2018 , the Company recorded compensation expense of $1,966 and $2,133 , respectively, related to the amortization of unvested restricted shares and RSUs. Included within the amortization of stock-based compensation expense recorded during the three months ended March 31, 2018 is compensation expense of $330 related to the accelerated vesting of 23 restricted shares and remaining amortization related to the 29 RSUs that remained eligible for future conversion in conjunction with the departure of the Company’s former Executive Vice President, General Counsel and Secretary. The total fair value of restricted shares that vested during the three months ended March 31, 2019 was $1,825 . In addition, the total fair value of RSUs that converted into common stock during the three months ended March 31, 2019 was $1,052 . Prior to 2013, non-employee directors had been granted options to acquire shares under the Company’s Third Amended and Restated Independent Director Stock Option and Incentive Plan. As of March 31, 2019 , options to purchase 22 shares of common stock remained outstanding and exercisable. The Company did not grant any options in 2019 or 2018 and did not record any compensation expense related to stock options during the three months ended March 31, 2019 and 2018

Leases (Notes)

Leases (Notes)	3 Months Ended
	Mar. 31, 2019
Leases [Abstract]
Leases	LEASES Leases as Lessor The majority of revenues from the Company’s properties consist of rents received under long-term operating leases, predominantly consisting of base rent. Also, certain leases provide for percentage rent based primarily on tenant sales volume. Also, most leases provide for reimbursement of the tenant’s pro rata share of certain operating expenses incurred by the landlord, including, among others, real estate taxes, insurance, utilities, common area maintenance and management fees, subject to the terms of the respective lease. Certain other tenants are subject to net leases where the tenant is responsible for paying base rent to the Company, but is directly responsible for other costs associated with occupancy, such as real estate taxes. Expenses paid directly by the tenant rather than the landlord are not included in the accompanying condensed consolidated statements of operations and other comprehensive (loss) income. Expenses paid by the landlord, subject to reimbursement by the tenant, are included within “Operating expenses” or “Real estate taxes” and reimbursements are included within “Lease income” along with the associated base rent in the accompanying condensed consolidated statements of operations and other comprehensive (loss) income. The Company has elected the practical expedient to not separate non-lease components (primarily reimbursement of common area maintenance costs) from the related lease components and has applied the guidance of ASC 842, Leases , to the combined component as (i) the fixed non-lease components have the same timing and pattern of transfer as the associated lease component, (ii) the lease component, if accounted for separately, would be classified as an operating lease and (iii) the Company considers the lease component to be the predominant component of the combined contract. In addition, the Company records lease termination fee income when (i) a termination letter agreement is signed, (ii) all of the conditions of such agreement have been fulfilled, (iii) the tenant is no longer occupying the property and (iv) collectibility is reasonably assured. Upon early lease termination, the Company provides for losses related to recognized tenant specific intangibles and other assets or adjusts the remaining useful life of the assets if determined to be appropriate. The Company recorded lease termination fee income of $1,188 and $1,019 for the three months ended March 31, 2019 and 2018 , respectively, which is included within “Lease income” in the accompanying condensed consolidated statements of operations and other comprehensive (loss) income. In certain municipalities, the Company is required to remit sales taxes to governmental authorities based upon the rental income received from properties in those regions. These taxes are reimbursed by the tenant to the Company in accordance with the terms of the applicable tenant lease. The presentation of the remittance and reimbursement of these taxes is on a gross basis with sales tax expenses included within “Operating expenses” and sales tax reimbursements included within “Lease income” in the accompanying condensed consolidated statements of operations and other comprehensive (loss) income. Such taxes remitted to governmental authorities, which are generally reimbursed by tenants, were $146 and $188 for the three months ended March 31, 2019 and 2018 , respectively. Lease income related to the Company’s operating leases is comprised of the following: Three Months Ended March 31, 2019 2018 Lease income related to fixed lease payments $ 90,434 $ 92,420 Lease income related to variable lease payments 30,631 31,809 Other (a) 1,638 613 Lease income $ 122,703 $ 124,842 (a) For the three months ended March 31, 2019 , “Other” is comprised of revenue adjustments related to changes in collectibility and amortization of above and below market lease intangibles and lease inducements. For the three months ended March 31, 2018 , “Other” is comprised of amortization of above and below market lease intangibles and lease inducements. As of March 31, 2019 , undiscounted lease payments to be received under operating leases, excluding additional percentage rent based on tenants’ sales volume and tenant reimbursements of certain operating expenses and assuming no exercise of renewal options or early termination rights, for the remainder of 2019 , the next five years and thereafter are as follows: Lease Payments 2019 $ 349,608 2020 327,147 2021 287,147 2022 239,472 2023 191,874 2024 137,902 Thereafter 449,519 Total $ 1,982,669 As of December 31, 2018, lease payments to be received under operating leases, excluding additional percentage rent based on tenants’ sales volume and tenant reimbursements of certain operating expenses and assuming no exercise of renewal options or early termination rights, were as follows: Lease Payments 2019 $ 351,145 2020 314,081 2021 274,135 2022 227,417 2023 180,199 Thereafter 569,758 Total $ 1,916,735 The remaining lease terms range from less than one year to approximately 64 years as of March 31, 2019 and December 31, 2018. As of December 31, 2018, the Company had recorded an allowance for doubtful accounts of $7,976 . Many of the leases at the Company’s properties contain provisions that condition a tenant’s obligation to remain open, the amount of rent payable by the tenant or potentially the tenant’s obligation to remain in the lease, upon certain factors, including: (i) the presence and continued operation of a certain anchor tenant or tenants, (ii) minimum occupancy levels at the applicable property or (iii) tenant sales amounts. If such a provision is triggered by a failure of any of these or other applicable conditions, a tenant could have the right to cease operations at the applicable property, have its rent reduced or terminate its lease early. The Company does not expect that such provisions will have a material impact on its future operating results. Leases as Lessee The Company leases land under non-cancellable operating leases at certain of its properties expiring in various years from 2035 to 2073 , exclusive of any available option periods. In addition, the Company leases office space for certain management offices and its corporate offices expiring in various years from 2019 to 2023 , exclusive of any available option periods. Upon adoption of the new lease accounting standard (ASU 2016-02 and related amendments) on January 1, 2019, the Company recorded lease liabilities and ROU assets of $103,432 for long-term ground and office leases where it is the lessee, calculated by discounting future lease payments by the Company’s incremental borrowing rate as of January 1, 2019. The incremental borrowing rate was determined through consideration of (i) the Company’s entity-specific risk premium, (ii) observable market interest rates and (iii) lease term. The weighted average incremental borrowing rate used to discount the future payments was 5.91% and the Company’s operating leases had a weighted average remaining lease term of 44 years as of January 1, 2019. The Company did not include option terms in its future lease payments as they were not reasonably certain to be exercised. The Company’s existing straight-line ground rent liabilities of $31,030 and acquired ground lease intangible liability of $11,898 were reclassified as of January 1, 2019 to be presented net of the ROU assets. The following table summarizes total lease costs recognized during the period, including variable lease payments which were not significant, and non-cash rent expense. Lease costs recognized during the three months ended March 31, 2019 are presented under the new lease accounting standard and lease costs recognized during the three months ended March 31, 2018 are presented under the standard in effect prior to the Company’s adoption of ASU 2016-02. Three Months Ended March 31, 2019 2018 Ground lease rent expense (a) $ 1,704 $ 1,960 Office rent expense (b) $ 281 $ 333 (a) Included within “Operating expenses” in the accompanying condensed consolidated statements of operations and other comprehensive (loss) income. Includes non-cash ground rent expense of $358 and $666 for the three months ended March 31, 2019 and 2018 , respectively. (b) Office rent related to property management operations is included within “Operating expenses” and office rent related to corporate office operations is included within “General and administrative expenses” in the accompanying condensed consolidated statements of operations and other comprehensive (loss) income. The Company has elected to not record a lease liability/ROU asset for leases with a term of less than 12 months. Office rent expense for the three months ended March 31, 2019 includes $18 of short-term lease costs. As of March 31, 2019 , undiscounted future rental obligations to be paid under the long-term ground and office leases, including fixed rental increases, for the remainder of 2019 , the next five years and thereafter are as follows: Lease Obligations 2019 $ 4,369 2020 6,076 2021 6,110 2022 6,140 2023 6,102 2024 5,698 Thereafter 247,790 Total $ 282,285 Adjustment for discounting (190,997 ) Lease liabilities as of March 31, 2019 $ 91,288 The Company’s operating leases for ground leases and office leases had a weighted average remaining lease term of 44 years and a weighted average discount rate of 5.92% as of March 31, 2019 . As of December 31, 2018 , future rental obligations to be paid under the ground and office leases, including fixed rental increases, were as follows: Lease Obligations 2019 $ 6,448 2020 6,656 2021 6,716 2022 6,761 2023 6,769 Thereafter 279,916 Total $ 313,266

Debt

Debt	3 Months Ended
	Mar. 31, 2019
Debt Disclosure [Abstract]
Debt	DEBT The Company has the following types of indebtedness: (i) mortgages payable, (ii) unsecured notes payable, (iii) unsecured term loans and (iv) an unsecured revolving line of credit. Mortgages Payable The following table summarizes the Company’s mortgages payable: March 31, 2019 December 31, 2018 Balance Weighted Average Interest Rate Weighted Average Years to Maturity Balance Weighted Average Interest Rate Weighted Average Years to Maturity Fixed rate mortgages payable (a) $ 204,686 4.65 % 4.3 $ 205,450 4.65 % 4.5 Premium, net of accumulated amortization 712 775 Discount, net of accumulated amortization (525 ) (536 ) Capitalized loan fees, net of accumulated amortization (349 ) (369 ) Mortgages payable, net $ 204,524 $ 205,320 (a) The fixed rate mortgages had interest rates ranging from 3.75% to 7.48% as of March 31, 2019 and December 31, 2018 . During the three months ended March 31, 2019 , the Company made scheduled principal payments of $764 related to amortizing loans. Unsecured Notes Payable The following table summarizes the Company’s unsecured notes payable: March 31, 2019 December 31, 2018 Unsecured Notes Payable Maturity Date Balance Interest Rate/ Weighted Average Interest Rate Balance Interest Rate/ Weighted Average Interest Rate Senior notes – 4.12% due 2021 June 30, 2021 $ 100,000 4.12 % $ 100,000 4.12 % Senior notes – 4.58% due 2024 June 30, 2024 150,000 4.58 % 150,000 4.58 % Senior notes – 4.00% due 2025 March 15, 2025 250,000 4.00 % 250,000 4.00 % Senior notes – 4.08% due 2026 September 30, 2026 100,000 4.08 % 100,000 4.08 % Senior notes – 4.24% due 2028 December 28, 2028 100,000 4.24 % 100,000 4.24 % 700,000 4.19 % 700,000 4.19 % Discount, net of accumulated amortization (704 ) (734 ) Capitalized loan fees, net of accumulated amortization (2,799 ) (2,904 ) Total $ 696,497 (a) $ 696,362 (a) Subsequent to March 31, 2019, the Company entered into a note purchase agreement with certain institutional investors in a private placement transaction pursuant to which the Company expects to issue $100,000 of 10-year 4.82% senior unsecured notes on June 28, 2019. The proceeds are expected to be used to repay or refinance outstanding indebtedness and for general corporate purposes. Notes Due 2026 and 2028 The note purchase agreement governing the 4.08% senior unsecured notes due 2026 and the 4.24% senior unsecured notes due 2028 (Notes Due 2026 and 2028) contains customary representations, warranties and covenants, and events of default. Pursuant to the terms of such note purchase agreement, the Company is subject to various financial covenants, including the requirement to maintain the following: (i) maximum unencumbered, secured and consolidated leverage ratios; (ii) a minimum interest coverage ratio; (iii) an unencumbered interest coverage ratio (as set forth in the Company’s unsecured credit facility and the note purchase agreement governing the Notes Due 2021 and 2024 defined below); and (iv) a fixed charge coverage ratio (as set forth in the Company’s unsecured credit facility). Notes Due 2025 The indenture, as supplemented (the Indenture), governing the 4.00% senior unsecured notes due 2025 (Notes Due 2025) contains customary covenants and events of default. Pursuant to the terms of the Indenture, the Company is subject to various financial covenants, including the requirement to maintain the following: (i) maximum secured and total leverage ratios; (ii) a debt service coverage ratio; and (iii) maintenance of an unencumbered assets to unsecured debt ratio. Notes Due 2021 and 2024 The note purchase agreement governing the 4.12% senior unsecured notes due 2021 and the 4.58% senior unsecured notes due 2024 (Notes Due 2021 and 2024) contains customary representations, warranties and covenants, and events of default. Pursuant to the terms of such note purchase agreement, the Company is subject to various financial covenants, some of which are based upon the financial covenants in effect in the Company’s unsecured credit facility, including the requirement to maintain the following: (i) maximum unencumbered, secured and consolidated leverage ratios; (ii) minimum interest coverage and unencumbered interest coverage ratios; and (iii) a minimum consolidated net worth. As of March 31, 2019 , management believes the Company was in compliance with the financial covenants under the Indenture and the note purchase agreements. Unsecured Term Loans and Revolving Line of Credit The following table summarizes the Company’s term loans and revolving line of credit: March 31, 2019 December 31, 2018 Maturity Date Balance Interest Rate Balance Interest Unsecured credit facility term loan due 2021 – fixed rate (a) January 5, 2021 $ 250,000 3.20 % $ 250,000 3.20 % Unsecured term loan due 2023 – fixed rate (b) November 22, 2023 200,000 4.05 % 200,000 4.05 % Subtotal 450,000 450,000 Capitalized loan fees, net of accumulated amortization (2,438 ) (2,633 ) Term loans, net $ 447,562 $ 447,367 Unsecured credit facility revolving line of credit – variable rate (c) April 22, 2022 $ 299,000 3.55 % $ 273,000 3.57 % (a) $250,000 of LIBOR -based variable rate debt has been swapped to a fixed rate of 2.00% plus a credit spread based on a leverage grid ranging from 1.20% to 1.70% through January 5, 2021. The applicable credit spread was 1.20% as of March 31, 2019 and December 31, 2018 . (b) $200,000 of LIBOR -based variable rate debt has been swapped to a fixed rate of 2.85% plus a credit spread based on a leverage grid ranging from 1.20% to 1.85% through November 22, 2023. The applicable credit spread was 1.20% as of March 31, 2019 and December 31, 2018 . (c) Excludes capitalized loan fees, which are included within “Other assets, net” in the accompanying condensed consolidated balance sheets. Unsecured Credit Facility On April 23, 2018, the Company entered into its fifth amended and restated unsecured credit agreement (Unsecured Credit Agreement) with a syndicate of financial institutions led by Wells Fargo Bank, National Association serving as syndication agent and KeyBank National Association serving as administrative agent to provide for an unsecured credit facility aggregating $1,100,000 (Unsecured Credit Facility). The Unsecured Credit Facility consists of an $850,000 unsecured revolving line of credit and a $250,000 unsecured term loan and is priced on a leverage grid at a rate of LIBOR plus a credit spread. In accordance with the Unsecured Credit Agreement, the Company may elect to convert to an investment grade pricing grid. As of March 31, 2019 , making such an election would have resulted in a higher interest rate and, as such, the Company has not made the election to convert to an investment grade pricing grid. The following table summarizes the key terms of the Unsecured Credit Facility: Leverage-Based Pricing Investment Grade Pricing Unsecured Credit Facility Maturity Date Extension Option Extension Fee Credit Spread Facility Fee Credit Spread Facility Fee $250,000 unsecured term loan 1/5/2021 N/A N/A 1.20% - 1.70% N/A 0.90% - 1.75% N/A $850,000 unsecured revolving line of credit 4/22/2022 2 six month 0.075% 1.05% - 1.50% 0.15% - 0.30% 0.825%-1.55% 0.125% - 0.30% The Unsecured Credit Facility has a $500,000 accordion option that allows the Company, at its election, to increase the total Unsecured Credit Facility up to $1,600,000 , subject to (i) customary fees and conditions including, but not limited to, the absence of an event of default as defined in the Unsecured Credit Agreement and (ii) the Company’s ability to obtain additional lender commitments. The Unsecured Credit Agreement contains customary representations, warranties and covenants, and events of default. Pursuant to the terms of the Unsecured Credit Agreement, the Company is subject to various financial covenants, including the requirement to maintain the following: (i) maximum unencumbered, secured and consolidated leverage ratios; and (ii) minimum fixed charge and unencumbered interest coverage ratios. As of March 31, 2019 , management believes the Company was in compliance with the financial covenants and default provisions under the Unsecured Credit Agreement. Term Loan Due 2023 On January 3, 2017, the Company received funding on a seven-year $200,000 unsecured term loan (Term Loan Due 2023) with a group of financial institutions, which closed during the year ended December 31, 2016 and was amended on November 20, 2018. The Term Loan Due 2023 is priced on a leverage grid at a rate of LIBOR plus a credit spread. In accordance with the amended term loan agreement (Term Loan Agreement), the Company may elect to convert to an investment grade pricing grid. As of March 31, 2019 , making such an election would have resulted in a higher interest rate and, as such, the Company has not made the election to convert to an investment grade pricing grid. The following table summarizes the key terms of the Term Loan Due 2023: Term Loan Due 2023 Maturity Date Leverage-Based Pricing Credit Spread Investment Grade Pricing Credit Spread $200,000 unsecured term loan 11/22/2023 1.20% – 1.85% 0.85% – 1.65% The Term Loan Due 2023 has a $100,000 accordion option that allows the Company, at its election, to increase the total unsecured term loan up to $300,000 , subject to (i) customary fees and conditions, including the absence of an event of default as defined in the Term Loan Agreement and (ii) the Company’s ability to obtain additional lender commitments. The Term Loan Agreement contains customary representations, warranties and covenants, and events of default, including financial covenants that require the Company to maintain the following: (i) maximum unencumbered, secured and consolidated leverage ratios; and (ii) minimum fixed charge and unencumbered interest coverage ratios. As of March 31, 2019 , management believes the Company was in compliance with the financial covenants and default provisions under the Term Loan Agreement. Debt Maturities The following table shows the scheduled maturities and principal amortization of the Company’s indebtedness as of March 31, 2019 for the remainder of 2019 , each of the next four years and thereafter and the weighted average interest rates by year. The table does not reflect the impact of any debt activity that occurred after March 31, 2019 , such as the $100,000 private placement notes, which the Company expects to issue on June 28, 2019. 2019 2020 2021 2022 2023 Thereafter Total Debt: Fixed rate debt: Mortgages payable (a) $ 2,326 $ 3,228 $ 22,080 $ 113,946 $ 31,758 $ 31,348 $ 204,686 Fixed rate term loans (b) — — 250,000 — 200,000 — 450,000 Unsecured notes payable (c) — — 100,000 — — 600,000 700,000 Total fixed rate debt 2,326 3,228 372,080 113,946 231,758 631,348 1,354,686 Variable rate debt: Variable rate revolving line of credit — — — 299,000 — — 299,000 Total debt (d) $ 2,326 $ 3,228 $ 372,080 $ 412,946 $ 231,758 $ 631,348 $ 1,653,686 Weighted average interest rate on debt: Fixed rate debt 4.48 % 4.48 % 3.56 % 4.90 % 4.06 % 4.20 % 4.06 % Variable rate debt (e) — — — 3.55 % — — 3.55 % Total 4.48 % 4.48 % 3.56 % 3.92 % 4.06 % 4.20 % 3.97 % (a) Excludes mortgage premium of $712 and discount of $(525) , net of accumulated amortization, as of March 31, 2019 . (b) $250,000 of LIBOR -based variable rate debt has been swapped to a fixed rate of 2.00% plus a credit spread based on a leverage grid through January 5, 2021. As of March 31, 2019 , the applicable credit spread was 1.20% . In addition, $200,000 of LIBOR -based variable rate debt has been swapped to a fixed rate of 2.85% plus a credit spread based on a leverage grid through November 22, 2023. As of March 31, 2019 , the applicable credit spread was 1.20% . (c) Excludes discount of $(704) , net of accumulated amortization, as of March 31, 2019 . (d) The weighted average years to maturity of consolidated indebtedness was 4.5 years as of March 31, 2019 . Total debt excludes capitalized loan fees of $(5,586) , net of accumulated amortization, as of March 31, 2019 , which are included as a reduction to the respective debt balances. (e) Represents interest rate as of March 31, 2019 .

Derivatives

Derivatives	3 Months Ended
	Mar. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives	DERIVATIVES The Company’s objective in using interest rate derivatives is to manage its exposure to interest rate movements and add stability to interest expense. To accomplish this objective, the Company uses interest rate swaps as part of its interest rate risk management strategy. 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 agreement without exchange of the underlying notional amount. As of March 31, 2019 , the Company used five interest rate swaps to hedge the variable cash flows associated with variable rate debt. Changes in fair value of the derivatives that are designated and that qualify as cash flow hedges are recorded in “Accumulated other comprehensive (loss) income” and are reclassified into interest expense as interest payments are made on the Company’s variable rate debt. Over the next 12 months, the Company estimates that an additional $17 will be reclassified as a decrease to interest expense. The following table summarizes the Company’s interest rate swaps as of March 31, 2019 , which effectively convert one-month floating rate LIBOR to a fixed rate: Effective Date Notional Fixed Interest Rate Maturity Date December 29, 2017 $ 100,000 2.00 % January 5, 2021 December 29, 2017 $ 100,000 2.00 % January 5, 2021 December 29, 2017 $ 50,000 2.00 % January 5, 2021 November 23, 2018 $ 100,000 2.85 % November 22, 2023 November 23, 2018 $ 100,000 2.85 % November 22, 2023 The following table summarizes the Company’s interest rate swaps that were designated as cash flow hedges of interest rate risk: Number of Instruments Notional Interest Rate Derivatives March 31, 2019 December 31, 2018 March 31, 2019 December 31, 2018 Interest rate swaps 5 5 $ 450,000 $ 450,000 The table below presents the estimated fair value of the Company’s derivative financial instruments as well as their classification in the accompanying condensed consolidated balance sheets. The valuation techniques used are described in Note 11 to the condensed consolidated financial statements. Derivatives March 31, 2019 December 31, 2018 Balance Sheet Location Fair Value Balance Sheet Location Fair Value Derivatives designated as cash flow hedges: Interest rate swaps Other assets, net $ 1,126 Other assets, net $ 2,324 Interest rate swaps Other liabilities $ 6,162 Other liabilities $ 3,846 The following table presents the effect of the Company’s derivative financial instruments on the accompanying condensed consolidated statements of operations and other comprehensive (loss) income for the three months ended March 31, 2019 and 2018 : Derivatives in Cash Flow Hedging Relationships Amount of Loss (Gain) Recognized in Other Comprehensive Income on Derivative Location of (Gain) Loss Reclassified from Accumulated Other Comprehensive Income (AOCI) into Income Amount of (Gain) Loss Reclassified from AOCI into Income Total Interest Expense Presented in the Statements of Operations in which the Effects of Cash Flow Hedges are Recorded 2019 2018 2019 2018 2019 2018 Interest rate swaps $ 3,386 $ (2,667 ) Interest expense $ (128 ) $ 87 $ 17,430 $ 18,765

Equity

Equity	3 Months Ended
	Mar. 31, 2019
Equity [Abstract]
Equity	EQUITY The Company has an existing common stock repurchase program under which it may repurchase, from time to time, up to a maximum of $500,000 of shares of its Class A common stock. The shares may be repurchased in the open market or in privately negotiated transactions and are canceled upon repurchase. The timing and actual number of shares repurchased will depend on a variety of factors, including price in absolute terms and in relation to the value of the Company’s assets, corporate and regulatory requirements, market conditions and other corporate liquidity requirements and priorities. The common stock repurchase program may be suspended or terminated at any time without prior notice. The Company did not repurchase any shares during the three months ended March 31, 2019 and 2018 . As of March 31, 2019 , $189,105

Earnings per Share

Earnings per Share	3 Months Ended
	Mar. 31, 2019
Earnings Per Share [Abstract]
Earnings per Share	EARNINGS PER SHARE The following table summarizes the components used in the calculation of basic and diluted earnings per share (EPS): Three Months Ended March 31, 2019 2018 Numerator: Net income attributable to common shareholders $ 23,208 $ 41,780 Earnings allocated to unvested restricted shares (80 ) (96 ) Net income attributable to common shareholders excluding amounts attributable to unvested restricted shares $ 23,128 $ 41,684 Denominator: Denominator for earnings per common share – basic: Weighted average number of common shares outstanding 212,850 (a) 218,849 (b) Effect of dilutive securities: Stock options — (c) — (c) RSUs 373 (d) 554 (e) Denominator for earnings per common share – diluted: Weighted average number of common and common equivalent shares outstanding 213,223 219,403 (a) Excludes 667 shares of unvested restricted common stock as of March 31, 2019 , which equate to 602 shares on a weighted average basis for the three months ended March 31, 2019 . These shares will continue to be excluded from the computation of basic EPS until contingencies are resolved and the shares are released. (b) Excludes 545 shares of unvested restricted common stock as of March 31, 2018 , which equate to 573 shares on a weighted average basis for the three months ended March 31, 2018 . These shares were excluded from the computation of basic EPS as the contingencies remained and the shares had not been released as of the end of the reporting period. (c) There were outstanding options to purchase 22 and 38 shares of common stock as of March 31, 2019 and 2018 , respectively, at a weighted average exercise price of $17.34 and $18.85 , respectively. Of these totals, outstanding options to purchase 18 and 38 shares of common stock as of March 31, 2019 and 2018 , respectively, at a weighted average exercise price of $18.58 and $18.85 , respectively, have been excluded from the common shares used in calculating diluted EPS as including them would be anti-dilutive. (d) As of March 31, 2019 , there were 839 RSUs eligible for future conversion upon completion of the performance periods (see Note 5 to the condensed consolidated financial statements), which equate to 832 RSUs on a weighted average basis for the three months ended March 31, 2019 . These contingently issuable shares are a component of calculating diluted EPS. (e) As of March 31, 2018 , there were 649 RSUs eligible for future conversion upon completion of the performance periods, which equate to 686 RSUs on a weighted average basis for the three months ended March 31, 2018

Provision for Impairment of Inv

Provision for Impairment of Investment Properties	3 Months Ended
	Mar. 31, 2019
Impairment or Disposal of Tangible Assets Disclosure [Abstract]
Provision for Impairment of Investment Properties	PROVISION FOR IMPAIRMENT OF INVESTMENT PROPERTIES As of March 31, 2019 , the Company did not identify indicators of impairment at any of its properties. As of March 31, 2018 , the Company identified indicators of impairment at four of its properties. Such indicators included a low occupancy rate, difficulty in leasing space and related cost of re-leasing, financially troubled tenants or reduced anticipated holding periods. The following table summarizes the results of these analyses as of March 31, 2018 : March 31, 2018 Number of properties for which indicators of impairment were identified 4 (a) Less: number of properties for which an impairment charge was recorded 2 Less: number of properties that were held for sale as of the date the analysis was performed for which indicators of impairment were identified but no impairment charge was recorded — Remaining properties for which indicators of impairment were identified but no impairment charge was considered necessary 2 Weighted average percentage by which the projected undiscounted cash flows exceeded its respective carrying value for each of the remaining properties (b) 39 % (a) Includes three properties which have subsequently been sold as of March 31, 2019 . (b) Based upon the estimated holding period for each asset where an undiscounted cash flow analysis was performed. The Company did not record any investment property impairment charges during the three months ended March 31, 2019 . The Company recorded the following investment property impairment charges during the three months ended March 31, 2018 : Property Name Property Type Impairment Date Square Footage Provision for Impairment of Investment Properties Schaumburg Towers (a) Office March 31, 2018 895,400 $ 392 CVS Pharmacy – Lawton, OK (b) Single-user retail March 31, 2018 10,900 200 $ 592 Estimated fair value of impaired properties as of impairment date $ 70,250 (a) The Company recorded an impairment charge on March 31, 2018 based upon the terms and conditions of an executed sales contract. This property was classified as held for sale as of March 31, 2018 and was sold on May 31, 2018, at which time additional impairment was recognized pursuant to the terms and conditions of an executed sales contract. (b) The Company recorded an impairment charge based upon the terms and conditions of an executed sales contract. The property was sold on April 19, 2018.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2019
Fair Value Disclosures [Abstract]
Fair Value Measurements	FAIR VALUE MEASUREMENTS Fair Value of Financial Instruments The following table presents the carrying value and estimated fair value of the Company’s financial instruments: March 31, 2019 December 31, 2018 Carrying Value Fair Value Carrying Value Fair Value Financial assets: Derivative asset $ 1,126 $ 1,126 $ 2,324 $ 2,324 Financial liabilities: Mortgages payable, net $ 204,524 $ 209,393 $ 205,320 $ 208,173 Unsecured notes payable, net $ 696,497 $ 688,089 $ 696,362 $ 671,492 Unsecured term loans, net $ 447,562 $ 450,000 $ 447,367 $ 449,266 Unsecured revolving line of credit $ 299,000 $ 299,000 $ 273,000 $ 272,553 Derivative liability $ 6,162 $ 6,162 $ 3,846 $ 3,846 The carrying value of the derivative asset is included within “Other assets, net” and the carrying value of the derivative liability is included within “Other liabilities” in the accompanying condensed consolidated balance sheets. Recurring Fair Value Measurements The following table presents the Company’s financial instruments, which are measured at fair value on a recurring basis, by the level in the fair value hierarchy within which those measurements fall. Methods and assumptions used to estimate the fair value of these instruments are described after the table. Fair Value Level 1 Level 2 Level 3 Total March 31, 2019 Derivative asset $ — $ 1,126 $ — $ 1,126 Derivative liability $ — $ 6,162 $ — $ 6,162 December 31, 2018 Derivative asset $ — $ 2,324 $ — $ 2,324 Derivative liability $ — $ 3,846 $ — $ 3,846 Derivatives: The fair value of the derivative asset and derivative liability is determined using a discounted cash flow analysis on the expected future cash flows of each derivative. This analysis uses observable market data including forward yield curves and implied volatilities to determine the market’s expectation of the future cash flows of the variable component. The fixed and variable components of the derivative are then discounted using calculated discount factors developed based on the LIBOR swap rate and are aggregated to arrive at a single valuation for the period. The Company also 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 use Level 3 inputs, such as estimates of current credit spreads to evaluate the likelihood of default by itself and its counterparties. However, as of March 31, 2019 and December 31, 2018 , 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. As a result, the Company has determined that its derivative valuations in their entirety are classified within Level 2 of the fair value hierarchy. In adjusting the fair value of its derivative contracts for the effect of nonperformance risk, the Company has considered any applicable credit enhancements. The Company’s derivative instruments are further described in Note 8 to the condensed consolidated financial statements. Nonrecurring Fair Value Measurements The Company did not remeasure any assets to fair value on a nonrecurring basis as of March 31, 2019 and December 31, 2018 . Fair Value Disclosures The following table presents the Company’s financial liabilities, which are measured at fair value for disclosure purposes, by the level in the fair value hierarchy within which those measurements fall. Fair Value Level 1 Level 2 Level 3 Total March 31, 2019 Mortgages payable, net $ — $ — $ 209,393 $ 209,393 Unsecured notes payable, net $ 240,555 $ — $ 447,534 $ 688,089 Unsecured term loans, net $ — $ — $ 450,000 $ 450,000 Unsecured revolving line of credit $ — $ — $ 299,000 $ 299,000 December 31, 2018 Mortgages payable, net $ — $ — $ 208,173 $ 208,173 Unsecured notes payable, net $ 235,788 $ — $ 435,704 $ 671,492 Unsecured term loans, net $ — $ — $ 449,266 $ 449,266 Unsecured revolving line of credit $ — $ — $ 272,553 $ 272,553 The Company used the following discount rates in valuing its Level 3 financial liabilities: March 31, 2019 December 31, 2018 Mortgages payable, net range 3.9% to 4.1% 4.2% to 4.4% Unsecured notes payable, net weighted average 4.55% 4.91% Unsecured term loans, net weighted average 1.20% 1.25% Unsecured revolving line of credit 1.05% 1.10% There were no transfers between the levels of the fair value hierarchy during the three months ended March 31, 2019

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES As of March 31, 2019 , the Company had letters of credit outstanding totaling $433 that serve as collateral for certain capital improvements at two of its properties and reduce the available borrowings on its unsecured revolving line of credit. As of March 31, 2019 , the Company had active redevelopments at Circle East and Plaza del Lago. The Company estimates that it will incur net costs of approximately $34,000 to $36,000 related to the Circle East redevelopment and approximately $1,100 to $1,250 related to the redevelopment of the multi-family rental units at Plaza del Lago. As of March 31, 2019 , the Company has incurred $16,354 , net of proceeds of $11,820 from the sale of air rights, related to the redevelopment portion of Circle East and $887

Litigation

Litigation	3 Months Ended
	Mar. 31, 2019
Litigation Disclosure [Abstract]
Legal Matters and Contingencies	LITIGATIONThe Company is subject, from time to time, to various legal proceedings and claims that arise in the ordinary course of business. While the resolution of such matters cannot be predicted with certainty, management believes, based on currently available information, that the final outcome of such matters will not have a material effect on the Company’s condensed consolidated financial statements.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2019
Subsequent Events [Abstract]
Subsequent Events	SUBSEQUENT EVENTS Subsequent to March 31, 2019 , the Company: • entered into a note purchase agreement with certain institutional investors in a private placement transaction pursuant to which the Company expects to issue $100,000 of 10-year 4.82% senior unsecured notes on June 28, 2019. The proceeds are expected to be used to repay or refinance outstanding indebtedness and for general corporate purposes; • entered into a joint venture agreement related to the medical office portion of the redevelopment project at Carillon, of which the Company owns 95% ; and • declared the cash dividend for the second quarter of 2019 of $0.165625

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
Recent Accounting Pronouncements	Recently Issued Accounting Pronouncements In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses . This new guidance is effective January 1, 2020, with early adoption permitted beginning January 1, 2019, and replaces the current incurred loss impairment methodology with a methodology that reflects expected credit losses. Financial assets that are measured at amortized cost will be required to be presented at the net amount expected to be collected with an allowance for credit losses deducted from the amortized cost basis. In addition, an entity must consider broader information in developing its expected credit loss estimate, including the use of forecasted information. In November 2018, the FASB issued ASU 2018-19, Codification Improvements to Topic 326, Financial Instruments – Credit Losses , which clarifies that receivables arising from operating leases are not within the scope of this new guidance. Generally, the pronouncement requires a modified retrospective method of adoption. The Company will continue to evaluate the impact of this guidance until it becomes effective. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement

Organization and Basis of Pre_2

Organization and Basis of Presentation (Tables)	3 Months Ended
	Mar. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Summary of property ownership	The Company’s property ownership as of March 31, 2019 is summarized below: Property Count Retail operating properties 105 Redevelopment projects: Circle East – redevelopment portion (a) — Plaza del Lago – multi-family rental units (a) — Carillon (b) 1 Total number of properties 106 (a) The operating portion of this property is included within the property count for retail operating properties. (b)

Acquisitions and Developments_2

Acquisitions and Developments in Progress (Tables)	3 Months Ended
	Mar. 31, 2019
Business Combinations [Abstract]
Schedule of acquisition date fair values	The following table summarizes the acquisition date values, before prorations, the Company recorded in conjunction with the acquisition discussed above: Three Months Ended March 31, 2019 Land $ 13,275 Building and other improvements, net 10,619 Acquired lease intangible assets (a) 1,770 Acquired lease intangible liabilities (b) (234 ) Net assets acquired $ 25,430 (a) The weighted average amortization period for acquired lease intangible assets is five years . (b) The weighted average amortization period for acquired lease intangible liabilities is five years
Schedule of developments in progress	The Company’s developments in progress are as follows: Property Name MSA March 31, 2019 December 31, 2018 Active developments/redevelopments: Circle East – redevelopment portion (a) Baltimore $ 28,227 $ 22,383 Plaza del Lago – multi-family rental units (b) Chicago 887 536 29,114 22,919 Land held for development: One Loudoun Uptown (c) Washington, D.C. 25,450 25,450 Total developments in progress $ 54,564 $ 48,369 (a) During the year ended December 31, 2018, the Company received net proceeds of $11,820 in connection with the sale of air rights to a third party to develop multi-family rental units at the redevelopment portion of Circle East, which is shown net in the “Developments in progress” balance as of March 31, 2019 in the accompanying condensed consolidated balance sheets. (b) Redevelopment of the existing multi-family rental units commenced in 2018. (c) During the three months ended December 31, 2018, the Company acquired One Loudoun Uptown, a 58 -acre land parcel, of which 32

Dispositions (Tables)

Dispositions (Tables)	3 Months Ended
	Mar. 31, 2019
Discontinued Operations and Disposal Groups [Abstract]
Schedule of property dispositions	The Company closed on the following disposition during the three months ended March 31, 2019 : Date Property Name Property Type Square Footage Consideration Aggregate Proceeds, Net (a) Gain March 8, 2019 Edwards Multiplex – Fresno (a) Single-user retail 94,600 $ 25,850 $ 21,605 $ 8,449 94,600 $ 25,850 $ 21,605 $ 8,449 (a) Aggregate proceeds are net of transaction costs. Prior to the disposition, the Company was subject to a ground lease whereby it leased the underlying land from a third party. The ground lease was assumed by the purchaser in connection with the disposition. The Company closed on the following dispositions during the three months ended March 31, 2018: Date Property Name Property Type Square Footage Consideration Aggregate Proceeds, Net (a) Gain January 19, 2018 Crown Theater Single-user retail 74,200 $ 6,900 $ 6,350 $ 2,952 February 15, 2018 Cranberry Square Multi-tenant retail 195,200 23,500 23,163 10,174 March 7, 2018 Rite Aid Store (Eckerd)–Crossville, TN Single-user retail 13,800 1,800 1,768 157 March 20, 2018 Home Depot Plaza (b) Multi-tenant retail 135,600 16,250 15,873 — March 21, 2018 Governor's Marketplace Multi-tenant retail 243,100 23,500 20,993 7,429 March 28, 2018 Stony Creek I & Stony Creek II (c) Multi-tenant retail 204,800 32,800 32,078 11,628 866,700 $ 104,750 $ 100,225 $ 32,340 (a) Aggregate proceeds are net of transaction costs and exclude $169 of condemnation proceeds, which did not result in any additional gain recognition. (b) The Company repaid a $10,750 mortgage payable in conjunction with the disposition of the property. (c)

Equity Compensation Plans (Tabl

Equity Compensation Plans (Tables)	3 Months Ended
	Mar. 31, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Summary of unvested restricted shares and restricted stock units	The following table summarizes the Company’s unvested performance restricted stock units (RSUs) as of and for the three months ended March 31, 2019 : Unvested RSUs Weighted Average Grant Date Fair Value per RSU RSUs eligible for future conversion as of January 1, 2019 649 $ 14.54 RSUs granted (a) 382 $ 10.98 Conversion of RSUs to common stock and restricted shares (b) (192 ) $ 13.74 RSUs eligible for future conversion as of March 31, 2019 (c) 839 $ 13.10 (a) Assumptions and inputs as of the grant date included a risk-free interest rate of 2.47% , the Company’s historical common stock performance relative to the peer companies within the National Association of Real Estate Investment Trusts (NAREIT) Shopping Center Index and the Company’s common stock dividend yield of 6.07% . Subject to continued employment, in 2022, following the performance period which concludes on December 31, 2021, one-third of the RSUs that are earned will convert into shares of common stock and two-thirds will convert into restricted shares with a one year vesting term. (b) On February 4, 2019, 192 RSUs converted into 82 shares of common stock and 125 restricted shares that will vest on December 31, 2019, subject to continued employment through such date, after applying a conversion rate of 107.5% based upon the Company’s Total Shareholder Return (TSR) relative to the TSRs of its peer companies, for the performance period that concluded on December 31, 2018. An additional 29 shares of common stock were also issued representing the dividends that would have been paid on the earned awards during the performance period. (c) As of March 31, 2019 , total unrecognized compensation expense related to unvested RSUs was $7,291 , which is expected to be amortized over a weighted average term of 2.5 years three months ended March 31, 2019 : Unvested Weighted Average Balance as of January 1, 2019 440 $ 13.40 Shares granted (a) 392 $ 12.29 Shares vested (156 ) $ 13.95 Shares forfeited (9 ) $ 13.02 Balance as of March 31, 2019 (b) 667 $ 12.62 (a) Shares granted vest over periods ranging from 0.9 years to three years in accordance with the terms of applicable award agreements. (b) As of March 31, 2019 , total unrecognized compensation expense related to unvested restricted shares was $4,380 , which is expected to be amortized over a weighted average term of 1.6 years

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2019
Leases [Abstract]
Schedule of lease income	Lease income related to the Company’s operating leases is comprised of the following: Three Months Ended March 31, 2019 2018 Lease income related to fixed lease payments $ 90,434 $ 92,420 Lease income related to variable lease payments 30,631 31,809 Other (a) 1,638 613 Lease income $ 122,703 $ 124,842 (a) For the three months ended March 31, 2019 , “Other” is comprised of revenue adjustments related to changes in collectibility and amortization of above and below market lease intangibles and lease inducements. For the three months ended March 31, 2018
Schedule of lease payments to be received under operating leases (new lease accounting standard)	As of March 31, 2019 , undiscounted lease payments to be received under operating leases, excluding additional percentage rent based on tenants’ sales volume and tenant reimbursements of certain operating expenses and assuming no exercise of renewal options or early termination rights, for the remainder of 2019 , the next five years and thereafter are as follows: Lease Payments 2019 $ 349,608 2020 327,147 2021 287,147 2022 239,472 2023 191,874 2024 137,902 Thereafter 449,519 Total $ 1,982,669
Schedule of lease payments to be received under operating leases (previous lease accounting standard)	As of December 31, 2018, lease payments to be received under operating leases, excluding additional percentage rent based on tenants’ sales volume and tenant reimbursements of certain operating expenses and assuming no exercise of renewal options or early termination rights, were as follows: Lease Payments 2019 $ 351,145 2020 314,081 2021 274,135 2022 227,417 2023 180,199 Thereafter 569,758 Total $ 1,916,735
Schedule of rent expense	The following table summarizes total lease costs recognized during the period, including variable lease payments which were not significant, and non-cash rent expense. Lease costs recognized during the three months ended March 31, 2019 are presented under the new lease accounting standard and lease costs recognized during the three months ended March 31, 2018 are presented under the standard in effect prior to the Company’s adoption of ASU 2016-02. Three Months Ended March 31, 2019 2018 Ground lease rent expense (a) $ 1,704 $ 1,960 Office rent expense (b) $ 281 $ 333 (a) Included within “Operating expenses” in the accompanying condensed consolidated statements of operations and other comprehensive (loss) income. Includes non-cash ground rent expense of $358 and $666 for the three months ended March 31, 2019 and 2018 , respectively. (b) Office rent related to property management operations is included within “Operating expenses” and office rent related to corporate office operations is included within “General and administrative expenses” in the accompanying condensed consolidated statements of operations and other comprehensive (loss) income. The Company has elected to not record a lease liability/ROU asset for leases with a term of less than 12 months. Office rent expense for the three months ended March 31, 2019 includes $18
Schedule of future rental obligations to be paid under ground and office leases (new lease accounting standard)	As of March 31, 2019 , undiscounted future rental obligations to be paid under the long-term ground and office leases, including fixed rental increases, for the remainder of 2019 , the next five years and thereafter are as follows: Lease Obligations 2019 $ 4,369 2020 6,076 2021 6,110 2022 6,140 2023 6,102 2024 5,698 Thereafter 247,790 Total $ 282,285 Adjustment for discounting (190,997 ) Lease liabilities as of March 31, 2019 $ 91,288
Schedule of future rental obligations to be paid under ground and office leases (previous lease accounting standard)	As of December 31, 2018 , future rental obligations to be paid under the ground and office leases, including fixed rental increases, were as follows: Lease Obligations 2019 $ 6,448 2020 6,656 2021 6,716 2022 6,761 2023 6,769 Thereafter 279,916 Total $ 313,266

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2019
Debt Disclosure [Abstract]
Summary of mortgages payable	The following table summarizes the Company’s mortgages payable: March 31, 2019 December 31, 2018 Balance Weighted Average Interest Rate Weighted Average Years to Maturity Balance Weighted Average Interest Rate Weighted Average Years to Maturity Fixed rate mortgages payable (a) $ 204,686 4.65 % 4.3 $ 205,450 4.65 % 4.5 Premium, net of accumulated amortization 712 775 Discount, net of accumulated amortization (525 ) (536 ) Capitalized loan fees, net of accumulated amortization (349 ) (369 ) Mortgages payable, net $ 204,524 $ 205,320 (a) The fixed rate mortgages had interest rates ranging from 3.75% to 7.48% as of March 31, 2019 and December 31, 2018
Summary of unsecured notes payable	The following table summarizes the Company’s unsecured notes payable: March 31, 2019 December 31, 2018 Unsecured Notes Payable Maturity Date Balance Interest Rate/ Weighted Average Interest Rate Balance Interest Rate/ Weighted Average Interest Rate Senior notes – 4.12% due 2021 June 30, 2021 $ 100,000 4.12 % $ 100,000 4.12 % Senior notes – 4.58% due 2024 June 30, 2024 150,000 4.58 % 150,000 4.58 % Senior notes – 4.00% due 2025 March 15, 2025 250,000 4.00 % 250,000 4.00 % Senior notes – 4.08% due 2026 September 30, 2026 100,000 4.08 % 100,000 4.08 % Senior notes – 4.24% due 2028 December 28, 2028 100,000 4.24 % 100,000 4.24 % 700,000 4.19 % 700,000 4.19 % Discount, net of accumulated amortization (704 ) (734 ) Capitalized loan fees, net of accumulated amortization (2,799 ) (2,904 ) Total $ 696,497 (a) $ 696,362 (a) Subsequent to March 31, 2019, the Company entered into a note purchase agreement with certain institutional investors in a private placement transaction pursuant to which the Company expects to issue $100,000 of 10-year 4.82%
Summary of term loans and revolving line of credit	The following table summarizes the Company’s term loans and revolving line of credit: March 31, 2019 December 31, 2018 Maturity Date Balance Interest Rate Balance Interest Unsecured credit facility term loan due 2021 – fixed rate (a) January 5, 2021 $ 250,000 3.20 % $ 250,000 3.20 % Unsecured term loan due 2023 – fixed rate (b) November 22, 2023 200,000 4.05 % 200,000 4.05 % Subtotal 450,000 450,000 Capitalized loan fees, net of accumulated amortization (2,438 ) (2,633 ) Term loans, net $ 447,562 $ 447,367 Unsecured credit facility revolving line of credit – variable rate (c) April 22, 2022 $ 299,000 3.55 % $ 273,000 3.57 % (a) $250,000 of LIBOR -based variable rate debt has been swapped to a fixed rate of 2.00% plus a credit spread based on a leverage grid ranging from 1.20% to 1.70% through January 5, 2021. The applicable credit spread was 1.20% as of March 31, 2019 and December 31, 2018 . (b) $200,000 of LIBOR -based variable rate debt has been swapped to a fixed rate of 2.85% plus a credit spread based on a leverage grid ranging from 1.20% to 1.85% through November 22, 2023. The applicable credit spread was 1.20% as of March 31, 2019 and December 31, 2018 . (c)
Summary of unsecured credit facility	The following table summarizes the key terms of the Unsecured Credit Facility: Leverage-Based Pricing Investment Grade Pricing Unsecured Credit Facility Maturity Date Extension Option Extension Fee Credit Spread Facility Fee Credit Spread Facility Fee $250,000 unsecured term loan 1/5/2021 N/A N/A 1.20% - 1.70% N/A 0.90% - 1.75% N/A $850,000 unsecured revolving line of credit 4/22/2022 2 six month 0.075% 1.05% - 1.50% 0.15% - 0.30% 0.825%-1.55% 0.125% - 0.30%
Summary of Term Loan Due 2023	The following table summarizes the key terms of the Term Loan Due 2023: Term Loan Due 2023 Maturity Date Leverage-Based Pricing Credit Spread Investment Grade Pricing Credit Spread $200,000 unsecured term loan 11/22/2023 1.20% – 1.85% 0.85% – 1.65%
Summary of scheduled maturities and principal amortization of indebtedness	The following table shows the scheduled maturities and principal amortization of the Company’s indebtedness as of March 31, 2019 for the remainder of 2019 , each of the next four years and thereafter and the weighted average interest rates by year. The table does not reflect the impact of any debt activity that occurred after March 31, 2019 , such as the $100,000 private placement notes, which the Company expects to issue on June 28, 2019. 2019 2020 2021 2022 2023 Thereafter Total Debt: Fixed rate debt: Mortgages payable (a) $ 2,326 $ 3,228 $ 22,080 $ 113,946 $ 31,758 $ 31,348 $ 204,686 Fixed rate term loans (b) — — 250,000 — 200,000 — 450,000 Unsecured notes payable (c) — — 100,000 — — 600,000 700,000 Total fixed rate debt 2,326 3,228 372,080 113,946 231,758 631,348 1,354,686 Variable rate debt: Variable rate revolving line of credit — — — 299,000 — — 299,000 Total debt (d) $ 2,326 $ 3,228 $ 372,080 $ 412,946 $ 231,758 $ 631,348 $ 1,653,686 Weighted average interest rate on debt: Fixed rate debt 4.48 % 4.48 % 3.56 % 4.90 % 4.06 % 4.20 % 4.06 % Variable rate debt (e) — — — 3.55 % — — 3.55 % Total 4.48 % 4.48 % 3.56 % 3.92 % 4.06 % 4.20 % 3.97 % (a) Excludes mortgage premium of $712 and discount of $(525) , net of accumulated amortization, as of March 31, 2019 . (b) $250,000 of LIBOR -based variable rate debt has been swapped to a fixed rate of 2.00% plus a credit spread based on a leverage grid through January 5, 2021. As of March 31, 2019 , the applicable credit spread was 1.20% . In addition, $200,000 of LIBOR -based variable rate debt has been swapped to a fixed rate of 2.85% plus a credit spread based on a leverage grid through November 22, 2023. As of March 31, 2019 , the applicable credit spread was 1.20% . (c) Excludes discount of $(704) , net of accumulated amortization, as of March 31, 2019 . (d) The weighted average years to maturity of consolidated indebtedness was 4.5 years as of March 31, 2019 . Total debt excludes capitalized loan fees of $(5,586) , net of accumulated amortization, as of March 31, 2019 , which are included as a reduction to the respective debt balances. (e) Represents interest rate as of March 31, 2019

Derivatives (Tables)

Derivatives (Tables)	3 Months Ended
	Mar. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of derivative instruments	The following table summarizes the Company’s interest rate swaps as of March 31, 2019 , which effectively convert one-month floating rate LIBOR to a fixed rate: Effective Date Notional Fixed Interest Rate Maturity Date December 29, 2017 $ 100,000 2.00 % January 5, 2021 December 29, 2017 $ 100,000 2.00 % January 5, 2021 December 29, 2017 $ 50,000 2.00 % January 5, 2021 November 23, 2018 $ 100,000 2.85 % November 22, 2023 November 23, 2018 $ 100,000 2.85 % November 22, 2023
Schedule of interest rate swaps designated as cash flow hedges	The following table summarizes the Company’s interest rate swaps that were designated as cash flow hedges of interest rate risk: Number of Instruments Notional Interest Rate Derivatives March 31, 2019 December 31, 2018 March 31, 2019 December 31, 2018 Interest rate swaps 5 5 $ 450,000 $ 450,000
Schedule of estimated fair value of derivative instruments	The table below presents the estimated fair value of the Company’s derivative financial instruments as well as their classification in the accompanying condensed consolidated balance sheets. The valuation techniques used are described in Note 11 to the condensed consolidated financial statements. Derivatives March 31, 2019 December 31, 2018 Balance Sheet Location Fair Value Balance Sheet Location Fair Value Derivatives designated as cash flow hedges: Interest rate swaps Other assets, net $ 1,126 Other assets, net $ 2,324 Interest rate swaps Other liabilities $ 6,162 Other liabilities $ 3,846
Schedule of effect of derivative instruments on the consolidated statements of operations	The following table presents the effect of the Company’s derivative financial instruments on the accompanying condensed consolidated statements of operations and other comprehensive (loss) income for the three months ended March 31, 2019 and 2018 : Derivatives in Cash Flow Hedging Relationships Amount of Loss (Gain) Recognized in Other Comprehensive Income on Derivative Location of (Gain) Loss Reclassified from Accumulated Other Comprehensive Income (AOCI) into Income Amount of (Gain) Loss Reclassified from AOCI into Income Total Interest Expense Presented in the Statements of Operations in which the Effects of Cash Flow Hedges are Recorded 2019 2018 2019 2018 2019 2018 Interest rate swaps $ 3,386 $ (2,667 ) Interest expense $ (128 ) $ 87 $ 17,430 $ 18,765

Earnings per Share (Tables)

Earnings per Share (Tables)	3 Months Ended
	Mar. 31, 2019
Earnings Per Share [Abstract]
Schedule of components used in the calculation of basic and diluted EPS	The following table summarizes the components used in the calculation of basic and diluted earnings per share (EPS): Three Months Ended March 31, 2019 2018 Numerator: Net income attributable to common shareholders $ 23,208 $ 41,780 Earnings allocated to unvested restricted shares (80 ) (96 ) Net income attributable to common shareholders excluding amounts attributable to unvested restricted shares $ 23,128 $ 41,684 Denominator: Denominator for earnings per common share – basic: Weighted average number of common shares outstanding 212,850 (a) 218,849 (b) Effect of dilutive securities: Stock options — (c) — (c) RSUs 373 (d) 554 (e) Denominator for earnings per common share – diluted: Weighted average number of common and common equivalent shares outstanding 213,223 219,403 (a) Excludes 667 shares of unvested restricted common stock as of March 31, 2019 , which equate to 602 shares on a weighted average basis for the three months ended March 31, 2019 . These shares will continue to be excluded from the computation of basic EPS until contingencies are resolved and the shares are released. (b) Excludes 545 shares of unvested restricted common stock as of March 31, 2018 , which equate to 573 shares on a weighted average basis for the three months ended March 31, 2018 . These shares were excluded from the computation of basic EPS as the contingencies remained and the shares had not been released as of the end of the reporting period. (c) There were outstanding options to purchase 22 and 38 shares of common stock as of March 31, 2019 and 2018 , respectively, at a weighted average exercise price of $17.34 and $18.85 , respectively. Of these totals, outstanding options to purchase 18 and 38 shares of common stock as of March 31, 2019 and 2018 , respectively, at a weighted average exercise price of $18.58 and $18.85 , respectively, have been excluded from the common shares used in calculating diluted EPS as including them would be anti-dilutive. (d) As of March 31, 2019 , there were 839 RSUs eligible for future conversion upon completion of the performance periods (see Note 5 to the condensed consolidated financial statements), which equate to 832 RSUs on a weighted average basis for the three months ended March 31, 2019 . These contingently issuable shares are a component of calculating diluted EPS. (e) As of March 31, 2018 , there were 649 RSUs eligible for future conversion upon completion of the performance periods, which equate to 686 RSUs on a weighted average basis for the three months ended March 31, 2018

Provision for Impairment of I_2

Provision for Impairment of Investment Properties (Tables)	3 Months Ended
	Mar. 31, 2019
Impairment or Disposal of Tangible Assets Disclosure [Abstract]
Schedule of identified impairment indicators	As of March 31, 2019 , the Company did not identify indicators of impairment at any of its properties. As of March 31, 2018 , the Company identified indicators of impairment at four of its properties. Such indicators included a low occupancy rate, difficulty in leasing space and related cost of re-leasing, financially troubled tenants or reduced anticipated holding periods. The following table summarizes the results of these analyses as of March 31, 2018 : March 31, 2018 Number of properties for which indicators of impairment were identified 4 (a) Less: number of properties for which an impairment charge was recorded 2 Less: number of properties that were held for sale as of the date the analysis was performed for which indicators of impairment were identified but no impairment charge was recorded — Remaining properties for which indicators of impairment were identified but no impairment charge was considered necessary 2 Weighted average percentage by which the projected undiscounted cash flows exceeded its respective carrying value for each of the remaining properties (b) 39 % (a) Includes three properties which have subsequently been sold as of March 31, 2019 . (b)
Schedule of investment property impairment charges	The Company recorded the following investment property impairment charges during the three months ended March 31, 2018 : Property Name Property Type Impairment Date Square Footage Provision for Impairment of Investment Properties Schaumburg Towers (a) Office March 31, 2018 895,400 $ 392 CVS Pharmacy – Lawton, OK (b) Single-user retail March 31, 2018 10,900 200 $ 592 Estimated fair value of impaired properties as of impairment date $ 70,250 (a) The Company recorded an impairment charge on March 31, 2018 based upon the terms and conditions of an executed sales contract. This property was classified as held for sale as of March 31, 2018 and was sold on May 31, 2018, at which time additional impairment was recognized pursuant to the terms and conditions of an executed sales contract. (b)

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2019
Fair Value Disclosures [Abstract]
Schedule of carrying value and estimated fair value of financial instruments	The following table presents the carrying value and estimated fair value of the Company’s financial instruments: March 31, 2019 December 31, 2018 Carrying Value Fair Value Carrying Value Fair Value Financial assets: Derivative asset $ 1,126 $ 1,126 $ 2,324 $ 2,324 Financial liabilities: Mortgages payable, net $ 204,524 $ 209,393 $ 205,320 $ 208,173 Unsecured notes payable, net $ 696,497 $ 688,089 $ 696,362 $ 671,492 Unsecured term loans, net $ 447,562 $ 450,000 $ 447,367 $ 449,266 Unsecured revolving line of credit $ 299,000 $ 299,000 $ 273,000 $ 272,553 Derivative liability $ 6,162 $ 6,162 $ 3,846 $ 3,846
Schedule of financial instruments measured at fair value on a recurring basis	The following table presents the Company’s financial instruments, which are measured at fair value on a recurring basis, by the level in the fair value hierarchy within which those measurements fall. Methods and assumptions used to estimate the fair value of these instruments are described after the table. Fair Value Level 1 Level 2 Level 3 Total March 31, 2019 Derivative asset $ — $ 1,126 $ — $ 1,126 Derivative liability $ — $ 6,162 $ — $ 6,162 December 31, 2018 Derivative asset $ — $ 2,324 $ — $ 2,324 Derivative liability $ — $ 3,846 $ — $ 3,846
Schedule of financial liabilities measured at fair value for disclosure purposes	The following table presents the Company’s financial liabilities, which are measured at fair value for disclosure purposes, by the level in the fair value hierarchy within which those measurements fall. Fair Value Level 1 Level 2 Level 3 Total March 31, 2019 Mortgages payable, net $ — $ — $ 209,393 $ 209,393 Unsecured notes payable, net $ 240,555 $ — $ 447,534 $ 688,089 Unsecured term loans, net $ — $ — $ 450,000 $ 450,000 Unsecured revolving line of credit $ — $ — $ 299,000 $ 299,000 December 31, 2018 Mortgages payable, net $ — $ — $ 208,173 $ 208,173 Unsecured notes payable, net $ 235,788 $ — $ 435,704 $ 671,492 Unsecured term loans, net $ — $ — $ 449,266 $ 449,266 Unsecured revolving line of credit $ — $ — $ 272,553 $ 272,553 The Company used the following discount rates in valuing its Level 3 financial liabilities: March 31, 2019 December 31, 2018 Mortgages payable, net range 3.9% to 4.1% 4.2% to 4.4% Unsecured notes payable, net weighted average 4.55% 4.91% Unsecured term loans, net weighted average 1.20% 1.25% Unsecured revolving line of credit 1.05% 1.10%

Organization and Basis of Pre_3

Organization and Basis of Presentation (Details)	Mar. 31, 2019propertysubsidiary
Real Estate Properties [Line Items]
Number of real estate properties owned	106
Number of wholly-owned subsidiaries jointly elected to be treated as a TRS | subsidiary	1
Operating properties | Retail
Real Estate Properties [Line Items]
Number of real estate properties owned	105
Redevelopment portion of Circle East | Redevelopment properties
Real Estate Properties [Line Items]
Number of real estate properties owned	0
Multi-family rental units at Plaza del Lago | Redevelopment properties
Real Estate Properties [Line Items]
Number of real estate properties owned	0
Carillon | Future redevelopment property
Real Estate Properties [Line Items]
Number of real estate properties owned	1

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details) - USD ($) $ in Thousands	Jan. 01, 2019	Mar. 31, 2019	Mar. 31, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Lease liabilities and ROU assets recognized upon adoption		$ 103,519	$ 0
Straight-line ground rent liabilities	$ 31,030
Acquired ground lease intangible liability	11,898
Rental income			94,455
Tenant recovery income			28,090
Other property income			$ 2,297
ASU 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Lease liabilities and ROU assets recognized upon adoption	$ 103,432

Acquisitions and Developments_3

Acquisitions and Developments in Progress - Summary of Acquisitions (Details) - North Benson Center $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)ft²
Business Acquisition [Line Items]
Square footage | ft²	70,500
Purchase price of asset acquisition	$ 25,340
Capitalized closing costs and adjustments	$ 90

Acquisitions and Developments_4

Acquisitions and Developments in Progress - Acquisition Date Fair Values (Details) - North Benson Center $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)
Acquisition Date Fair Values
Land	$ 13,275
Building and other improvements, net	10,619
Acquired lease intangible assets	1,770
Acquired lease intangible liabilities	(234)
Net assets acquired	$ 25,430
Weighted average amortization period, acquired lease intangible assets	5 years
Weighted average amortization period, acquired lease intangible liabilities	5 years

Acquisitions and Developments_5

Acquisitions and Developments in Progress - Summary of Developments in Progress (Details) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2019USD ($)	Mar. 31, 2018USD ($)	Dec. 31, 2018USD ($)a
Capitalized Costs of Unproved Properties Excluded from Amortization [Line Items]
Developments in progress	$ 54,564		$ 48,369
Aggregate proceeds, net	21,605	$ 112,214
Redevelopment portion of Circle East
Capitalized Costs of Unproved Properties Excluded from Amortization [Line Items]
Developments in progress	28,227		22,383
Multi-family rental units at Plaza del Lago
Capitalized Costs of Unproved Properties Excluded from Amortization [Line Items]
Developments in progress	887		536
Redevelopment properties
Capitalized Costs of Unproved Properties Excluded from Amortization [Line Items]
Developments in progress	29,114		22,919
One Loudoun Uptown
Capitalized Costs of Unproved Properties Excluded from Amortization [Line Items]
Land held for development	$ 25,450		$ 25,450
Acres of land | a			58
Acres of land that are developable | a			32
Redevelopment portion of Circle East, air rights
Capitalized Costs of Unproved Properties Excluded from Amortization [Line Items]
Aggregate proceeds, net		$ 11,820	$ 11,820

Acquisitions and Developments_6

Acquisitions and Developments in Progress - Variable Interest Entities (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)agreements	Mar. 31, 2019USD ($)
One Loudoun Downtown and Carillon
Variable Interest Entity [Line Items]
Number of joint ventures | agreements	2
One Loudoun Downtown
Variable Interest Entity [Line Items]
Company's ownership percentage		90.00%
Carillon
Variable Interest Entity [Line Items]
Company's ownership percentage		95.00%
Other assets, net | One Loudoun Downtown
Variable Interest Entity [Line Items]
Predevelopment costs incurred	$ 414	$ 614
Other assets, net | Carillon
Variable Interest Entity [Line Items]
Predevelopment costs incurred	$ 422	$ 938

Dispositions - Summary of Dispo

Dispositions - Summary of Dispositions (Details) $ in Thousands	Mar. 08, 2019USD ($)ft²	Mar. 28, 2018USD ($)ft²	Mar. 21, 2018USD ($)ft²	Mar. 20, 2018USD ($)ft²	Mar. 07, 2018USD ($)ft²	Feb. 15, 2018USD ($)ft²	Jan. 19, 2018USD ($)ft²	Mar. 31, 2019USD ($)ft²property	Mar. 31, 2018USD ($)ft²	Dec. 31, 2018USD ($)property
Property Dispositions [Line Items]
Aggregate proceeds, net								$ 21,605	$ 112,214
Gain								$ 8,449	$ 34,519
Number of properties classified as held for sale | property								106
Edwards Multiplex - Fresno, CA
Property Dispositions [Line Items]
Square footage | ft²	94,600
Consideration	$ 25,850
Aggregate proceeds, net	21,605
Gain	$ 8,449
2019 dispositions
Property Dispositions [Line Items]
Square footage | ft²								94,600
Consideration								$ 25,850
Aggregate proceeds, net								21,605
Gain								$ 8,449
Crown Theater
Property Dispositions [Line Items]
Square footage | ft²							74,200
Consideration							$ 6,900
Aggregate proceeds, net							6,350
Gain							$ 2,952
Cranberry Square
Property Dispositions [Line Items]
Square footage | ft²						195,200
Consideration						$ 23,500
Aggregate proceeds, net						23,163
Gain						$ 10,174
Rite Aid Store (Eckerd) - Crossville, TN
Property Dispositions [Line Items]
Square footage | ft²					13,800
Consideration					$ 1,800
Aggregate proceeds, net					1,768
Gain					$ 157
Home Depot Plaza
Property Dispositions [Line Items]
Square footage | ft²				135,600
Consideration				$ 16,250
Aggregate proceeds, net				15,873
Gain				0
Mortgage payable repaid				$ 10,750
Governor's Marketplace
Property Dispositions [Line Items]
Square footage | ft²			243,100
Consideration			$ 23,500
Aggregate proceeds, net			20,993
Gain			$ 7,429
Stony Creek I & Stony Creek II
Property Dispositions [Line Items]
Square footage | ft²		204,800
Consideration		$ 32,800
Aggregate proceeds, net		32,078
Gain		$ 11,628
2018 dispositions
Property Dispositions [Line Items]
Square footage | ft²									866,700
Consideration									$ 104,750
Aggregate proceeds, net									100,225
Gain									32,340
Condemnation proceeds									169
Redevelopment portion of Circle East, air rights
Property Dispositions [Line Items]
Aggregate proceeds, net									11,820	$ 11,820
Gain									$ 2,179
Investment properties held for sale
Property Dispositions [Line Items]
Number of properties classified as held for sale | property								0		0

Equity Compensation Plans (Deta

Equity Compensation Plans (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	Mar. 31, 2019	Feb. 04, 2019	Mar. 31, 2019	Mar. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options outstanding	22		22	38
Number of options granted			0	0
Restricted shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares issued		125
Number of shares/RSUs in which vesting was accelerated				23
Fair value of restricted shares vested			$ 1,825
Equity Instruments, Nonvested [Roll Forward]
Balance at the beginning of the period (in shares)			440
Shares/RSUs granted (in shares)			392
Shares/RSUs vested (in shares)			(156)
Shares/RSUs forfeited (in shares)			(9)
Balance at the end of the period (in shares)	667		667	545
Equity Instruments, Nonvested, Weighted Average Grant Date Fair Value
Balance at the beginning of the period (in dollars per share)			$ 13.40
Shares/RSUs granted (in dollars per share)			12.29
Shares/RSUs vested (in dollars per share)			13.95
Shares/RSUs forfeited (in dollars per share)			13.02
Balance at the end of the period (in dollars per share)	$ 12.62		$ 12.62
Compensation Cost Not Yet Recognized
Total unrecognized compensation expense	$ 4,380		$ 4,380
Unrecognized compensation expense, period for recognition (in years)	1 year 7 months 6 days
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period for shares/RSUs granted			1 year
Risk-free interest rate (as a percent)			2.47%
Common stock dividend yield (as a percent)			6.07%
Conversion rate of RSUs into shares of common stock (as a percent)			33.00%
Conversion rate of RSUs into restricted shares (as a percent)			67.00%
Number of RSUs converted		192
Conversion rate (as a percent)		107.50%
Number of shares/RSUs in which vesting was accelerated				29
Fair value of restricted shares vested			$ 1,052
Equity Instruments, Nonvested [Roll Forward]
Balance at the beginning of the period (in shares)			649
Shares/RSUs granted (in shares)			382
Shares/RSUs vested (in shares)			(192)
Balance at the end of the period (in shares)	839		839
Equity Instruments, Nonvested, Weighted Average Grant Date Fair Value
Balance at the beginning of the period (in dollars per share)			$ 14.54
Shares/RSUs granted (in dollars per share)			10.98
Shares/RSUs vested (in dollars per share)			13.74
Balance at the end of the period (in dollars per share)	$ 13.10		$ 13.10
Compensation Cost Not Yet Recognized
Total unrecognized compensation expense	$ 7,291		$ 7,291
Unrecognized compensation expense, period for recognition (in years)	2 years 6 months
Restricted shares and RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense			1,966	$ 2,133
Additional compensation expense				330
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense			$ 0	$ 0
Minimum | Restricted shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period for shares/RSUs granted			10 months 24 days
Maximum | Restricted shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period for shares/RSUs granted			3 years
Class A common stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares issued		82
Dividends | Class A common stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares issued		29

Leases - Summary of Leases as L

Leases - Summary of Leases as Lessor (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Lessor, Lease, Description [Line Items]
Lease termination fee income	$ 1,188	$ 1,019
Taxes remitted to governmental authorities and reimbursed by tenants	146	188
Accounts and notes receivable, allowances (in dollars)			$ 7,976
Operating Leases, Lease Income
Lease income related to fixed lease payments	90,434	92,420
Lease income related to variable lease payments	30,631	31,809
Other	1,638	613
Lease income	122,703	$ 124,842
Lessor, Operating Lease, Payments, Fiscal Year Maturity
Lease payments, remainder of 2019	349,608
Lease payments, 2020	327,147
Lease payments, 2021	287,147
Lease payments, 2022	239,472
Lease payments, 2023	191,874
Lease payments, 2024	137,902
Lease payments, thereafter	449,519
Total lease payments	$ 1,982,669
Operating Leases, Future Minimum Payments Receivable
Lease payments, 2019			351,145
Lease payments, 2020			314,081
Lease payments, 2021			274,135
Lease payments, 2022			227,417
Lease payments, 2023			180,199
Lease payments, thereafter			569,758
Total lease payments			$ 1,916,735
Minimum
Lessor, Lease, Description [Line Items]
Remaining lease term	1 year		1 year
Maximum
Lessor, Lease, Description [Line Items]
Remaining lease term	64 years		64 years

Leases - Summary of Leases as_2

Leases - Summary of Leases as Lessee (Details) - USD ($) $ in Thousands	Jan. 01, 2019	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Lessee, Lease, Description [Line Items]
Lease liabilities and ROU assets recognized upon adoption		$ 103,519	$ 0
Weighted average incremental borrowing rate (as a percent)	5.91%	5.92%
Weighted average remaining lease term	44 years	44 years
Straight-line ground rent liabilities	$ 31,030
Acquired ground lease intangible liability	11,898
Operating Lease Liabilities, Payments Due
Lease obligations, remainder of 2019		$ 4,369
Lease obligations, 2020		6,076
Lease obligations, 2021		6,110
Lease obligations, 2022		6,140
Lease obligations, 2023		6,102
Lease obligations, 2024		5,698
Lease obligations, thereafter		247,790
Total lease obligations		282,285
Adjustment for discounting		(190,997)
Lease liabilities		91,288		$ 0
Operating Leases, Future Minimum Payments Due
Lease obligations, 2019				6,448
Lease obligations, 2020				6,656
Lease obligations, 2021				6,716
Lease obligations, 2022				6,761
Lease obligations, 2023				6,769
Lease obligations, thereafter				279,916
Total lease obligations				$ 313,266
ASU 2016-02
Lessee, Lease, Description [Line Items]
Lease liabilities and ROU assets recognized upon adoption	$ 103,432
Ground lease
Lessee, Lease, Description [Line Items]
Rent expense under new lease accounting standard		1,704
Rent expense under previous lease accounting standard			1,960
Office
Lessee, Lease, Description [Line Items]
Rent expense under new lease accounting standard		281
Rent expense under previous lease accounting standard			333
Short-term lease costs		18
Non-cash ground rent
Lessee, Lease, Description [Line Items]
Rent expense under new lease accounting standard		$ 358
Rent expense under previous lease accounting standard			$ 666

Debt - Summary of Mortgages Pay

Debt - Summary of Mortgages Payable (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018	Mar. 31, 2019
Debt Instrument [Line Items]
Long-term debt	$ 1,653,686		$ 1,653,686
Weighted average interest rate (as a percent)	3.97%		3.97%
Fixed rate debt
Debt Instrument [Line Items]
Long-term debt	$ 1,354,686		$ 1,354,686
Weighted average interest rate (as a percent)	4.06%		4.06%
Mortgages payable
Debt Instrument [Line Items]
Premium, net of accumulated amortization	$ 712	$ 775	$ 712
Discount, net of accumulated amortization	(525)	(536)	(525)
Capitalized loan fees, net of accumulated amortization	(349)	(369)	(349)
Mortgages payable, net	204,524	205,320	204,524
Scheduled principal payments related to amortizing loans			764
Mortgages payable | Fixed rate debt
Debt Instrument [Line Items]
Long-term debt	$ 204,686	$ 205,450	$ 204,686
Weighted average interest rate (as a percent)	4.65%	4.65%	4.65%
Weighted average years to maturity	4 years 3 months 18 days	4 years 6 months
Minimum | Mortgages payable
Debt Instrument [Line Items]
Fixed interest rate (as a percent)	3.75%	3.75%	3.75%
Maximum | Mortgages payable
Debt Instrument [Line Items]
Fixed interest rate (as a percent)	7.48%	7.48%	7.48%

Debt - Summary of Unsecured Not

Debt - Summary of Unsecured Notes Payable (Details) - USD ($) $ in Thousands	Jun. 28, 2019	Mar. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Principal balance		$ 696,497	$ 696,362
Weighted average interest rate (as a percent)		3.97%
Senior Notes
Debt Instrument [Line Items]
Principal balance		$ 700,000	700,000
Discount, net of accumulated amortization		(704)	(734)
Capitalized loan fees, net of accumulated amortization		$ (2,799)	$ (2,904)
Weighted average interest rate (as a percent)		4.19%	4.19%
Senior Notes | 4.12% Notes Due 2021
Debt Instrument [Line Items]
Principal balance		$ 100,000	$ 100,000
Stated interest rate (as a percent)		4.12%	4.12%
Senior Notes | 4.58% Notes Due 2024
Debt Instrument [Line Items]
Principal balance		$ 150,000	$ 150,000
Stated interest rate (as a percent)		4.58%	4.58%
Senior Notes | 4.00% Notes Due 2025
Debt Instrument [Line Items]
Principal balance		$ 250,000	$ 250,000
Stated interest rate (as a percent)		4.00%	4.00%
Senior Notes | 4.08% Notes Due 2026
Debt Instrument [Line Items]
Principal balance		$ 100,000	$ 100,000
Stated interest rate (as a percent)		4.08%	4.08%
Senior Notes | 4.24% Notes Due 2028
Debt Instrument [Line Items]
Principal balance		$ 100,000	$ 100,000
Stated interest rate (as a percent)		4.24%	4.24%
Subsequent events | Senior Notes | 4.82% Notes Due 2029
Debt Instrument [Line Items]
Stated interest rate (as a percent)	4.82%
Amount of debt issuance	$ 100,000
Term of debt issuance	10 years

Debt - Summary of Unsecured Cre

Debt - Summary of Unsecured Credit Facility (Details) $ in Thousands	Mar. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Nov. 20, 2018	Apr. 23, 2018USD ($)extension_options	Jan. 03, 2017USD ($)
Line of Credit Facility [Line Items]
Unsecured term loans	$ 447,562	$ 447,367
Revolving line of credit	299,000	273,000
Unsecured term loans
Line of Credit Facility [Line Items]
Unsecured term loans	450,000	450,000
Capitalized loan fees, net of accumulated amortization	(2,438)	(2,633)
Term loans, net	447,562	447,367
Term Loan Due 2023
Line of Credit Facility [Line Items]
Principal amount					$ 200,000
Fixed rate debt | Unsecured credit facility term loan due 2021
Line of Credit Facility [Line Items]
Unsecured term loans	$ 250,000	$ 250,000
Interest rate on credit facility (as a percent)	3.20%	3.20%
Fixed rate debt | Term Loan Due 2023
Line of Credit Facility [Line Items]
Unsecured term loans	$ 200,000	$ 200,000
Interest rate on term loan due 2023 (as a percent)	4.05%	4.05%
Variable rate debt | Unsecured credit facility revolving line of credit
Line of Credit Facility [Line Items]
Revolving line of credit	$ 299,000	$ 273,000
Interest rate on credit facility (as a percent)	3.55%	3.57%
Two $100,00 and one $50,000 interest rate swaps maturing in 2021
Line of Credit Facility [Line Items]
Variable rate debt swapped to fixed rate	$ 250,000
Fixed interest rate (as a percent)	2.00%
Two $100,00 and one $50,000 interest rate swaps maturing in 2021 | Unsecured credit facility term loan due 2021
Line of Credit Facility [Line Items]
Variable rate debt swapped to fixed rate	$ 250,000
Fixed interest rate (as a percent)	2.00%
Two $100,000 interest rate swaps maturing in 2023
Line of Credit Facility [Line Items]
Variable rate debt swapped to fixed rate	$ 200,000
Fixed interest rate (as a percent)	2.85%
Two $100,000 interest rate swaps maturing in 2023 | Term Loan Due 2023
Line of Credit Facility [Line Items]
Variable rate debt swapped to fixed rate	$ 200,000
Fixed interest rate (as a percent)	2.85%
LIBOR | Unsecured credit facility term loan due 2021
Line of Credit Facility [Line Items]
Variable interest rate spread (as a percent)	1.20%	1.20%
LIBOR | Term Loan Due 2023
Line of Credit Facility [Line Items]
Reference rate for variable interest rate					LIBOR
Variable interest rate spread (as a percent)	1.20%	1.20%
LIBOR | Two $100,00 and one $50,000 interest rate swaps maturing in 2021
Line of Credit Facility [Line Items]
Reference rate for variable interest rate	LIBOR
Variable interest rate spread (as a percent)	1.20%
LIBOR | Two $100,00 and one $50,000 interest rate swaps maturing in 2021 | Unsecured credit facility term loan due 2021
Line of Credit Facility [Line Items]
Reference rate for variable interest rate	LIBOR
LIBOR | Two $100,000 interest rate swaps maturing in 2023
Line of Credit Facility [Line Items]
Reference rate for variable interest rate	LIBOR
Variable interest rate spread (as a percent)	1.20%
LIBOR | Two $100,000 interest rate swaps maturing in 2023 | Term Loan Due 2023
Line of Credit Facility [Line Items]
Reference rate for variable interest rate	LIBOR
Minimum | LIBOR | Unsecured credit facility term loan due 2021
Line of Credit Facility [Line Items]
Variable interest rate spread (as a percent)	1.20%
Minimum | LIBOR | Term Loan Due 2023
Line of Credit Facility [Line Items]
Variable interest rate spread (as a percent)	1.20%		1.20%
Maximum | LIBOR | Unsecured credit facility term loan due 2021
Line of Credit Facility [Line Items]
Variable interest rate spread (as a percent)	1.70%
Maximum | LIBOR | Term Loan Due 2023
Line of Credit Facility [Line Items]
Variable interest rate spread (as a percent)	1.85%		1.85%
2018 Wells Fargo and KeyBank syndicate | Unsecured Credit Facility
Line of Credit Facility [Line Items]
Aggregate borrowing capacity				$ 1,100,000
Additional borrowing capacity				500,000
Maximum borrowing capacity				1,600,000
2018 Wells Fargo and KeyBank syndicate | Unsecured credit facility term loan due 2021
Line of Credit Facility [Line Items]
Principal amount				250,000
2018 Wells Fargo and KeyBank syndicate | Unsecured credit facility revolving line of credit
Line of Credit Facility [Line Items]
Aggregate borrowing capacity				$ 850,000
Number of extension options | extension_options				2
Revolving line of credit, period of extension of maturity (in years)				6 months
Revolving line of credit, extension fee as a percentage of commitment amount				0.075%
2018 Wells Fargo and KeyBank syndicate | Minimum | Unsecured credit facility revolving line of credit
Line of Credit Facility [Line Items]
Facility fee (as a percent)				0.15%
2018 Wells Fargo and KeyBank syndicate | Minimum | LIBOR | Unsecured credit facility revolving line of credit
Line of Credit Facility [Line Items]
Variable interest rate spread (as a percent)				1.05%
2018 Wells Fargo and KeyBank syndicate | Maximum | Unsecured credit facility revolving line of credit
Line of Credit Facility [Line Items]
Facility fee (as a percent)				0.30%
2018 Wells Fargo and KeyBank syndicate | Maximum | LIBOR | Unsecured credit facility revolving line of credit
Line of Credit Facility [Line Items]
Variable interest rate spread (as a percent)				1.50%
Investment grade rated | Minimum | LIBOR | Term Loan Due 2023
Line of Credit Facility [Line Items]
Variable interest rate spread (as a percent)			0.85%
Investment grade rated | Maximum | LIBOR | Term Loan Due 2023
Line of Credit Facility [Line Items]
Variable interest rate spread (as a percent)			1.65%
Investment grade rated | 2018 Wells Fargo and KeyBank syndicate | Minimum | Unsecured credit facility revolving line of credit
Line of Credit Facility [Line Items]
Facility fee (as a percent)				0.125%
Investment grade rated | 2018 Wells Fargo and KeyBank syndicate | Minimum | LIBOR | Unsecured credit facility revolving line of credit
Line of Credit Facility [Line Items]
Variable interest rate spread (as a percent)				0.825%
Investment grade rated | 2018 Wells Fargo and KeyBank syndicate | Maximum | Unsecured credit facility revolving line of credit
Line of Credit Facility [Line Items]
Facility fee (as a percent)				0.30%
Investment grade rated | 2018 Wells Fargo and KeyBank syndicate | Maximum | LIBOR | Unsecured credit facility revolving line of credit
Line of Credit Facility [Line Items]
Variable interest rate spread (as a percent)				1.55%

Debt - Summary of Term Loan Due

Debt - Summary of Term Loan Due 2023 (Details) - Term Loan Due 2023 - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018	Nov. 20, 2018	Jan. 03, 2017
Debt Instrument [Line Items]
Term of debt issuance				7 years
Principal amount				$ 200,000
Additional borrowing capacity				100,000
Maximum borrowing capacity				$ 300,000
LIBOR
Debt Instrument [Line Items]
Reference rate for variable interest rate				LIBOR
Variable interest rate spread (as a percent)	1.20%	1.20%
Minimum | LIBOR
Debt Instrument [Line Items]
Variable interest rate spread (as a percent)	1.20%		1.20%
Maximum | LIBOR
Debt Instrument [Line Items]
Variable interest rate spread (as a percent)	1.85%		1.85%
Investment grade rated | Minimum | LIBOR
Debt Instrument [Line Items]
Variable interest rate spread (as a percent)			0.85%
Investment grade rated | Maximum | LIBOR
Debt Instrument [Line Items]
Variable interest rate spread (as a percent)			1.65%

Debt - Schedule of Debt Maturit

Debt - Schedule of Debt Maturities (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018	Jun. 28, 2019
Long-term Debt, Fiscal Year Maturity
2019	$ 2,326
2020	3,228
2021	372,080
2022	412,946
2023	231,758
Thereafter	631,348
Total	$ 1,653,686
Long-term Debt, Weighted Average Interest Rate
2019	4.48%
2020	4.48%
2021	3.56%
2022	3.92%
2023	4.06%
Thereafter	4.20%
Total	3.97%
Mortgages payable
Debt Instrument [Line Items]
Premium, net of accumulated amortization	$ 712	$ 775
Discount, net of accumulated amortization	(525)	(536)
Capitalized loan fees, net of accumulated amortization	(349)	(369)
Unsecured notes payable
Debt Instrument [Line Items]
Discount, net of accumulated amortization	(704)	(734)
Capitalized loan fees, net of accumulated amortization	$ (2,799)	$ (2,904)
Long-term Debt, Weighted Average Interest Rate
Total	4.19%	4.19%
Consolidated indebtedness
Debt Instrument [Line Items]
Weighted average years to maturity	4 years 6 months
Capitalized loan fees, net of accumulated amortization	$ (5,586)
Fixed rate debt
Long-term Debt, Fiscal Year Maturity
2019	2,326
2020	3,228
2021	372,080
2022	113,946
2023	231,758
Thereafter	631,348
Total	$ 1,354,686
Long-term Debt, Weighted Average Interest Rate
2019	4.48%
2020	4.48%
2021	3.56%
2022	4.90%
2023	4.06%
Thereafter	4.20%
Total	4.06%
Fixed rate debt | Mortgages payable
Debt Instrument [Line Items]
Weighted average years to maturity	4 years 3 months 18 days	4 years 6 months
Long-term Debt, Fiscal Year Maturity
2019	$ 2,326
2020	3,228
2021	22,080
2022	113,946
2023	31,758
Thereafter	31,348
Total	$ 204,686	$ 205,450
Long-term Debt, Weighted Average Interest Rate
Total	4.65%	4.65%
Fixed rate debt | Unsecured term loans
Long-term Debt, Fiscal Year Maturity
2019	$ 0
2020	0
2021	250,000
2022	0
2023	200,000
Thereafter	0
Total	450,000
Fixed rate debt | Unsecured notes payable
Long-term Debt, Fiscal Year Maturity
2019	0
2020	0
2021	100,000
2022	0
2023	0
Thereafter	600,000
Total	$ 700,000
Variable rate debt
Long-term Debt, Weighted Average Interest Rate
2019	0.00%
2020	0.00%
2021	0.00%
2022	3.55%
2023	0.00%
Thereafter	0.00%
Total	3.55%
Variable rate debt | Unsecured revolving line of credit
Long-term Debt, Fiscal Year Maturity
2019	$ 0
2020	0
2021	0
2022	299,000
2023	0
Thereafter	0
Total	299,000
Two $100,00 and one $50,000 interest rate swaps maturing in 2021
Debt Instrument [Line Items]
Variable rate debt swapped to fixed rate	$ 250,000
Fixed interest rate (as a percent)	2.00%
Two $100,000 interest rate swaps maturing in 2023
Debt Instrument [Line Items]
Variable rate debt swapped to fixed rate	$ 200,000
Fixed interest rate (as a percent)	2.85%
LIBOR | Two $100,00 and one $50,000 interest rate swaps maturing in 2021
Debt Instrument [Line Items]
Reference rate for variable interest rate	LIBOR
Variable interest rate spread (as a percent)	1.20%
LIBOR | Two $100,000 interest rate swaps maturing in 2023
Debt Instrument [Line Items]
Reference rate for variable interest rate	LIBOR
Variable interest rate spread (as a percent)	1.20%
Subsequent events | 4.82% Notes Due 2029 | Unsecured notes payable
Debt Instrument [Line Items]
Amount of debt issuance			$ 100,000

Derivatives - Schedule of Deriv

Derivatives - Schedule of Derivative Instruments (Details) - Cash flow hedges $ in Thousands	Mar. 31, 2019USD ($)instrument	Dec. 31, 2018USD ($)instrument	Nov. 23, 2018USD ($)	Dec. 29, 2017USD ($)
Interest rate swaps
Derivative [Line Items]
Number of instruments | instrument	5	5
Amount expected to be reclassified to interest expense over the next 12 months	$ 17
Notional	$ 450,000	$ 450,000
$100,000 interest rate swap maturing in 2021 no. 1
Derivative [Line Items]
Notional				$ 100,000
Fixed interest rate (as a percent)				2.00%
$100,000 interest rate swap maturing in 2021 no. 2
Derivative [Line Items]
Notional				$ 100,000
Fixed interest rate (as a percent)				2.00%
$50,000 interest rate swap maturing in 2021
Derivative [Line Items]
Notional				$ 50,000
Fixed interest rate (as a percent)				2.00%
$100,000 interest rate swap maturing in 2023 no. 1
Derivative [Line Items]
Notional			$ 100,000
Fixed interest rate (as a percent)			2.85%
$100,000 interest rate swap maturing in 2023 no. 2
Derivative [Line Items]
Notional			$ 100,000
Fixed interest rate (as a percent)			2.85%
LIBOR
Derivative [Line Items]
Reference rate for variable interest rate	one-month floating rate LIBOR

Derivatives - Interest Rate Swa

Derivatives - Interest Rate Swaps Designated as Cash Flow Hedges (Details) - Interest rate swaps - Cash flow hedges $ in Thousands	Mar. 31, 2019USD ($)instrument	Dec. 31, 2018USD ($)instrument
Derivative [Line Items]
Number of instruments | instrument	5	5
Notional | $	$ 450,000	$ 450,000

Derivatives - Estimated Fair Va

Derivatives - Estimated Fair Value (Details) - Interest rate swaps - Cash flow hedges - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Derivatives, Fair Value [Line Items]
Fair value of derivative asset	$ 1,126	$ 2,324
Fair value of derivative liability	$ 6,162	$ 3,846

Derivatives - Effect on Stateme

Derivatives - Effect on Statements of Operations (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Derivative Instruments, (Gain) Loss [Line Items]
Interest expense presented in Statements of Operations in which the effects of cash flow hedges are recorded	$ 17,430	$ 18,765
Interest rate swaps | Cash flow hedges
Derivative Instruments, (Gain) Loss [Line Items]
Amount of (gain) loss recognized in other comprehensive income on derivative	3,386	(2,667)
Amount of (gain) loss reclassified from AOCI into income	(128)	87
Interest expense presented in Statements of Operations in which the effects of cash flow hedges are recorded	$ 17,430	$ 18,765

Equity (Details)

Equity (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Class of Stock [Line Items]
Maximum authorized amount for stock repurchases	$ 500,000
Number of shares repurchased	0	0
Remaining authorized repurchase amount	$ 189,105

Earnings per Share (Details)

Earnings per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Numerator:
Net income attributable to common shareholders			$ 23,208	$ 41,780
Earnings allocated to unvested restricted shares			(80)	(96)
Net income attributable to common shareholders excluding amounts attributable to unvested restricted shares			$ 23,128	$ 41,684
Denominator for earnings per common share – basic:
Weighted average number of common shares outstanding			212,850	218,849
Effect of dilutive securities:
Stock options			0	0
RSUs			373	554
Denominator for earnings per common share – diluted:
Weighted average number of common and common equivalent shares outstanding			213,223	219,403
Earnings Per Share, Other Disclosures
Weighted average number of shares of restricted common stock			602	573
Antidilutive Securities Excluded from Computation of Earnings per Share [Line Items]
Number of outstanding options to purchase shares of common stock	22	38	22	38
Weighted average exercise price of outstanding options (in dollars per share)	$ 17.34	$ 18.85	$ 17.34	$ 18.85
Restricted shares
Earnings Per Share, Other Disclosures
Unvested restricted common stock	667	545	667	545	440
Stock options
Antidilutive Securities Excluded from Computation of Earnings per Share [Line Items]
Number of outstanding options to purchase shares of common stock that would be anti-dilutive	18	38
Weighted average exercise price of outstanding options excluded from diluted EPS calculation (in dollars per share)	$ 18.58	$ 18.85
RSUs
Earnings Per Share, Other Disclosures
Unvested restricted common stock	839		839		649
Antidilutive Securities Excluded from Computation of Earnings per Share [Line Items]
Number of RSUs eligible for future conversion	839	649	839	649
Weighted average number of RSUs			832	686

Provision for Impairment of I_3

Provision for Impairment of Investment Properties - Impairment Indicators (Details) - property	Mar. 31, 2019	Mar. 31, 2018
Impaired Long-Lived Assets Held and Used [Line Items]
Number of properties for which indicators of impairment were identified	0	4
Number of properties for which an impairment charge was recorded		2
Number of properties held for sale with impairment indicators but not impaired		0
Remaining properties with impairment indicators but not impaired		2
Weighted average percentage by which projected undiscounted cash flows exceeded carrying value for remaining properties		39.00%
Number of properties with impairment indicators which were subsequently sold		3

Provision for Impairment of I_4

Provision for Impairment of Investment Properties - Impairment Charges (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)	Mar. 31, 2018USD ($)ft²
Impaired Long-Lived Assets Held and Used [Line Items]
Provision for impairment of investment properties	$ 0	$ 592
Estimated fair value of impaired properties as of impairment date		$ 70,250
Schaumburg Towers
Impaired Long-Lived Assets Held and Used [Line Items]
Square footage | ft²		895,400
Provision for impairment of investment properties		$ 392
CVS Pharmacy - Lawton, OK
Impaired Long-Lived Assets Held and Used [Line Items]
Square footage | ft²		10,900
Provision for impairment of investment properties		$ 200

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Financial liabilities:
Mortgages payable, net	$ 204,524	$ 205,320
Unsecured notes payable, net	696,497	696,362
Unsecured term loans, net	447,562	447,367
Unsecured revolving line of credit	299,000	273,000
Carrying Value
Financial assets:
Derivative asset	1,126	2,324
Financial liabilities:
Mortgages payable, net	204,524	205,320
Unsecured notes payable, net	696,497	696,362
Unsecured term loans, net	447,562	447,367
Unsecured revolving line of credit	299,000	273,000
Derivative liability	6,162	3,846
Fair Value
Financial assets:
Derivative asset	1,126	2,324
Financial liabilities:
Mortgages payable, net	209,393	208,173
Unsecured notes payable, net	688,089	671,492
Unsecured term loans, net	450,000	449,266
Unsecured revolving line of credit	299,000	272,553
Derivative liability	$ 6,162	$ 3,846

Fair Value Measurements - Recur

Fair Value Measurements - Recurring Fair Value Measurements (Details) - Recurring Fair Value Measurements - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	$ 1,126	$ 2,324
Derivative liability	6,162	3,846
Fair value, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	1,126	2,324
Derivative liability	$ 6,162	$ 3,846

Fair Value Measurements - Fai_2

Fair Value Measurements - Fair Value Disclosures (Details) $ in Thousands	Mar. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Mortgages payable, net	$ 204,524	$ 205,320
Unsecured notes payable, net	696,497	696,362
Unsecured term loans, net	447,562	447,367
Unsecured revolving line of credit	299,000	273,000
Fair Value, Level 1
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Unsecured notes payable, net	240,555	235,788
Fair Value, Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Mortgages payable, net	209,393	208,173
Unsecured notes payable, net	447,534	435,704
Unsecured term loans, net	450,000	449,266
Unsecured revolving line of credit	299,000	272,553
Fair Value, Total
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Mortgages payable, net	209,393	208,173
Unsecured notes payable, net	688,089	671,492
Unsecured term loans, net	450,000	449,266
Unsecured revolving line of credit	299,000	272,553
Unsecured notes payable
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Unsecured notes payable, net	$ 700,000	$ 700,000
Discount rate | Unsecured revolving line of credit
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Input for measuring debt	0.0105	0.0110
Discount rate | Minimum | Mortgages payable
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Input for measuring debt	0.039	0.042
Discount rate | Maximum | Mortgages payable
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Input for measuring debt	0.041	0.044
Discount rate | Weighted average | Unsecured notes payable
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Input for measuring debt	0.0455	0.0491
Discount rate | Weighted average | Unsecured term loans
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Input for measuring debt	0.0120	0.0125

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Thousands	Mar. 31, 2019USD ($)property	Mar. 31, 2019USD ($)property	Mar. 31, 2018USD ($)
Commitments and Contingencies [Line Items]
Amount of letters of credit outstanding	$ 433	$ 433
Number of properties with letters of credit | property	2	2
Aggregate proceeds, net		$ 21,605	$ 112,214
Redevelopment portion of Circle East
Commitments and Contingencies [Line Items]
Redevelopment costs incurred	$ 16,354	16,354
Redevelopment portion of Circle East | Minimum
Commitments and Contingencies [Line Items]
Net estimated redevelopment costs	34,000	34,000
Redevelopment portion of Circle East | Maximum
Commitments and Contingencies [Line Items]
Net estimated redevelopment costs	36,000	36,000
Multi-family rental units at Plaza del Lago
Commitments and Contingencies [Line Items]
Redevelopment costs incurred	887	887
Multi-family rental units at Plaza del Lago | Minimum
Commitments and Contingencies [Line Items]
Net estimated redevelopment costs	1,100	1,100
Multi-family rental units at Plaza del Lago | Maximum
Commitments and Contingencies [Line Items]
Net estimated redevelopment costs	1,250	$ 1,250
Redevelopment portion of Circle East, air rights
Commitments and Contingencies [Line Items]
Aggregate proceeds, net	$ 11,820

Subsequent Events (Details)

Subsequent Events (Details) - USD ($) $ / shares in Units, $ in Thousands	Jun. 28, 2019	May 01, 2019	Mar. 31, 2019	Mar. 31, 2018
Subsequent Event [Line Items]
Common stock dividends declared (per share)			$ 0.165625	$ 0.165625
Subsequent events | Senior Notes | 4.82% Notes Due 2029
Subsequent Event [Line Items]
Amount of debt issuance	$ 100,000
Term of debt issuance	10 years
Stated interest rate (as a percent)	4.82%
Subsequent events | Carillon, medical office redevelopment
Subsequent Event [Line Items]
Company's ownership percentage		95.00%
Subsequent events | Class A common stock
Subsequent Event [Line Items]
Common stock dividends declared (per share)		$ 0.165625