Kite Realty Group Trust (KRG) 10-Q 6 May 16 2016 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2016	May. 02, 2016
Entity Information [Line Items]
Entity Registrant Name	KITE REALTY GROUP TRUST
Document Type	10-Q
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		83,364,345
Amendment Flag	false
Entity Central Index Key	1,286,043
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Large Accelerated Filer
Entity Well-known Seasoned Issuer	No
Document Period End Date	Mar. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
KRG, LP
Entity Information [Line Items]
Entity Registrant Name	KITE REALTY GROUP, L.P.
Document Type	10-Q
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		0
Amendment Flag	false
Entity Central Index Key	1,636,315
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Non-accelerated Filer
Entity Well-known Seasoned Issuer	No

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Assets:
Investment properties, at cost	$ 3,947,922	$ 3,933,140
Less: accumulated depreciation	(461,051)	(432,295)
Real Estate Investment Property, Net	3,486,871	3,500,845
Cash and cash equivalents	23,307	33,880
Tenant receivables	52,406	51,101
Restricted cash and escrow deposits	13,345	13,476
Deferred costs and intangibles, net	143,028	148,274
Prepaid and other assets	10,793	8,852
Total Assets	3,729,750	3,756,428
Liabilities and Equity:
Mortgage and other indebtedness, net	1,730,787	1,724,449
Accounts payable and accrued expenses	81,772	81,356
Deferred revenue and intangibles, net and other liabilities	127,484	131,559
Total Liabilities	1,940,043	1,937,364
Commitments and contingencies	0	0
Limited partners' interests in Operating Partnership and other redeemable noncontrolling interests	99,021	92,315
Kite Realty Group Trust Shareholders' Equity:
Common shares	834	833
Additional paid in capital and other	2,044,266	2,050,545
Accumulated other comprehensive loss	(9,290)	(2,145)
Accumulated deficit	(345,822)	(323,257)
Total Kite Realty Group Trust Shareholders' Equity	1,689,988	1,725,976
Noncontrolling Interests	698	773
Total Equity	1,690,686	1,726,749
Total Liabilities and Equity	3,729,750	3,756,428
KRG, LP
Assets:
Investment properties, at cost	3,947,922	3,933,140
Less: accumulated depreciation	(461,051)	(432,295)
Real Estate Investment Property, Net	3,486,871	3,500,845
Cash and cash equivalents	23,307	33,880
Tenant receivables	52,406	51,101
Restricted cash and escrow deposits	13,345	13,476
Deferred costs and intangibles, net	143,028	148,274
Prepaid and other assets	10,793	8,852
Total Assets	3,729,750	3,756,428
Liabilities and Equity:
Mortgage and other indebtedness, net	1,730,787	1,724,449
Accounts payable and accrued expenses	81,772	81,356
Deferred revenue and intangibles, net and other liabilities	127,484	131,559
Total Liabilities	1,940,043	1,937,364
Commitments and contingencies	0	0
Limited partners' interests in Operating Partnership and other redeemable noncontrolling interests	99,021	92,315
Kite Realty Group Trust Shareholders' Equity:
Common shares	1,699,278	1,728,121
Accumulated other comprehensive loss	(9,290)	(2,145)
Total Kite Realty Group Trust Shareholders' Equity	1,689,988	1,725,976
Noncontrolling Interests	698	773
Total Equity	1,690,686	1,726,749
Total Liabilities and Equity	$ 3,729,750	$ 3,756,428

Consolidated Balance Sheets (U3

Consolidated Balance Sheets (Unaudited) (Parentheticals) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Accrued straight-line rent (in Dollars)	$ 25,230	$ 23,809
Common Shares, par value (in Dollars per share)	$ 0.01	$ 0.01
Shares authorized (in shares)	225,000,000	225,000,000
Common Shares, shares issued	83,364,216	83,334,865
Common Shares, shares outstanding	83,364,216	83,334,865
KRG, LP
Accrued straight-line rent (in Dollars)	$ 25,230	$ 23,809
Common Shares, shares issued	83,364,216	83,334,865
Common Shares, shares outstanding	83,364,216	83,334,865

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive (Loss) Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Revenue:
Minimum rent	$ 67,463	$ 65,479
Tenant reimbursements	18,155	18,615
Other property related revenue	2,932	2,734
Total revenue	88,550	86,828
Expenses:
Property operating	12,192	12,724
Real estate taxes	11,135	10,021
General, administrative, and other	5,291	5,006
Merger and acquisition costs	0	159
Depreciation and amortization	42,240	40,435
Total expenses	70,858	68,345
Operating income	17,692	18,483
Interest expense	(15,325)	(13,933)
Income tax expense of taxable REIT subsidiary	(410)	(55)
Other income, net	18	4
Income before gain on sale of operating properties	1,975	4,499
Gain on sales of operating properties	0	3,363
Consolidated net income	1,975	7,862
Net income attributable to noncontrolling interests	(573)	(683)
Net income attributable to Kite Realty Group Trust	1,402	7,179
Dividends on preferred shares	0	(2,114)
Net income attributable to common shareholders	$ 1,402	$ 5,065
Net income (loss) per common share - basic & diluted:
Net income per common share - basic & diluted	$ 0.02	$ 0.06
Weighted average common shares outstanding - basic	83,348,507	83,532,092
Weighted average common shares outstanding - diluted	83,490,979	83,625,352
Dividends declared per common share (usd per share)	$ 0.2875	$ 0.2725
Change in fair value of derivatives	$ (7,313)	$ (3,226)
Total comprehensive (loss) income	(5,338)	4,636
Comprehensive income attributable to noncontrolling interests	(405)	(621)
Comprehensive (loss) income attributable to Kite Realty Group Trust	(5,743)	4,015
KRG, LP
Revenue:
Minimum rent	67,463	65,479
Tenant reimbursements	18,155	18,615
Other property related revenue	2,932	2,734
Total revenue	88,550	86,828
Expenses:
Property operating	12,192	12,724
Real estate taxes	11,135	10,021
General, administrative, and other	5,291	5,006
Merger and acquisition costs	0	159
Depreciation and amortization	42,240	40,435
Total expenses	70,858	68,345
Operating income	17,692	18,483
Interest expense	(15,325)	(13,933)
Income tax expense of taxable REIT subsidiary	(410)	(55)
Other income, net	18	4
Income before gain on sale of operating properties	1,975	4,499
Gain on sales of operating properties	0	3,363
Consolidated net income	1,975	7,862
Net income attributable to noncontrolling interests	(523)	(587)
Dividends on preferred shares	0	(2,114)
Net income attributable to common shareholders	1,452	5,161
Allocation of net income:
Limited Partners	50	96
Parent Company	$ 1,402	$ 5,065
Net income (loss) per common share - basic & diluted:
Net income per unit - basic & diluted	$ 0.02	$ 0.06
Weighted average common shares outstanding - basic	85,271,012	85,172,613
Weighted average common shares outstanding - diluted	85,413,485	85,265,873
Dividends declared per common share (usd per share)	$ 0.2875	$ 0.2725
Change in fair value of derivatives	$ (7,313)	$ (3,226)
Total comprehensive (loss) income	(5,338)	4,636
Comprehensive income attributable to noncontrolling interests	(523)	(587)
Comprehensive (loss) income attributable to Kite Realty Group Trust	$ (5,861)	$ 4,049

Consolidated Statement of Share

Consolidated Statement of Shareholders' Equity (Unaudited) - 3 months ended Mar. 31, 2016 - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Income (Loss)	Retained Earnings
Balances (in Shares) at Dec. 31, 2015		83,334,865
Balances at Dec. 31, 2015	$ 1,725,976	$ 833	$ 2,050,545	$ (2,145)	$ (323,257)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock compensation activity (in Shares)		27,351
Stock compensation activity	888	$ 1	887
Other comprehensive loss attributable to Kite Realty Group Trust	(7,145)			(7,145)
Distributions declared to common shareholders	(23,967)				(23,967)
Net income attributable to Kite Realty Group Trust	$ 1,402				1,402
Exchange of redeemable noncontrolling interests for common shares (in Shares)	2,000	2,000
Exchange of redeemable noncontrolling interests for common shares	$ 52		52
Adjustment to redeemable noncontrolling interests	(7,218)		(7,218)
Balances (in Shares) at Mar. 31, 2016		83,364,216
Balances at Mar. 31, 2016	$ 1,689,988	$ 834	$ 2,044,266	$ (9,290)	$ (345,822)

Consolidated Statements of Part

Consolidated Statements of Partners' Equity (Unaudited) - KRG, LP - 3 months ended Mar. 31, 2016 - USD ($) $ in Thousands	Total	General PartnerCommon Stock	General PartnerAccumulated Other Comprehensive Income (Loss)
Partners' capital, beginning balance at Dec. 31, 2015	$ 1,725,976	$ 1,728,121	$ (2,145)
Increase (Decrease) in Partners' Capital [Roll Forward]
Stock compensation activity	888	888
Other comprehensive loss attributable to Parent Company	(7,145)		(7,145)
Distributions declared to Parent Company	(23,967)	(23,967)
Net income allocated to Parent Company	1,402	1,402
Conversion of Limited Partner Units to shares of the Parent Company	52	52
Adjustment to redeemable noncontrolling interests	(7,218)	(7,218)
Partners' capital, ending balance at Mar. 31, 2016	$ 1,689,988	$ 1,699,278	$ (9,290)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Cash flows from operating activities:
Consolidated net income	$ 1,975	$ 7,862
Adjustments to reconcile consolidated net income to net cash provided by operating activities:
Straight-line rent	(1,443)	(1,279)
Depreciation and amortization	43,075	41,336
Gain on sale of operating properties, net	0	(3,363)
Provision for credit losses	841	748
Compensation expense for equity awards	1,241	1,061
Amortization of debt fair value adjustment	(1,015)	(1,601)
Amortization of in-place lease liabilities, net	(1,208)	(797)
Changes in assets and liabilities:
Tenant receivables and other	(958)	6,730
Deferred costs and other assets	(4,536)	(5,354)
Accounts payable, accrued expenses, deferred revenue and other liabilities	(5,586)	526
Payments on assumed earnout liability	0	(774)
Net cash provided by operating activities	32,386	45,095
Cash flows from investing activities:
Deposits related to acquisitions	0	(2,000)
Capital expenditures, net	(21,445)	(22,569)
Net proceeds from sales of operating properties	0	126,460
Collection of note receivable	500	0
Change in construction payables	(3,640)	3,314
Net cash (used in) provided by investing activities	(24,585)	105,205
Cash flows from financing activities:
Purchase of redeemable noncontrolling interests	0	(33,998)
Repurchases of common shares upon the vesting of restricted shares	(654)	(765)
Loan proceeds	48,100	83,577
Loan transaction costs	(689)	(433)
Loan payments	(41,308)	(90,927)
Distributions paid – common shareholders/unitholders	(22,709)	(21,708)
Distributions paid - preferred shareholders/unitholders	0	(2,114)
Net cash used in financing activities	(18,374)	(67,382)
Net change in cash and cash equivalents	(10,573)	82,918
Cash and cash equivalents, beginning of period	33,880	43,826
Cash and cash equivalents, end of period	23,307	126,744
Assumption of mortgages by buyer upon sale of properties	0	40,303
Redeemable Noncontrolling Interests
Cash flows from financing activities:
Distributions to noncontrolling interests	(950)	(985)
Noncontrolling Interests in Properties
Cash flows from financing activities:
Distributions to noncontrolling interests	(164)	(29)
KRG, LP
Cash flows from operating activities:
Consolidated net income	1,975	7,862
Adjustments to reconcile consolidated net income to net cash provided by operating activities:
Straight-line rent	(1,443)	(1,279)
Depreciation and amortization	43,075	41,336
Gain on sale of operating properties, net	0	(3,363)
Provision for credit losses	841	748
Compensation expense for equity awards	1,241	1,061
Amortization of debt fair value adjustment	(1,015)	(1,601)
Amortization of in-place lease liabilities, net	(1,208)	(797)
Changes in assets and liabilities:
Tenant receivables and other	(958)	6,730
Deferred costs and other assets	(4,536)	(5,354)
Accounts payable, accrued expenses, deferred revenue and other liabilities	(5,586)	526
Payments on assumed earnout liability	0	(774)
Net cash provided by operating activities	32,386	45,095
Cash flows from investing activities:
Deposits related to acquisitions	0	(2,000)
Capital expenditures, net	(21,445)	(22,569)
Net proceeds from sales of operating properties	0	126,460
Collection of note receivable	500	0
Change in construction payables	(3,640)	3,314
Net cash (used in) provided by investing activities	(24,585)	105,205
Cash flows from financing activities:
Purchase of redeemable noncontrolling interests	0	(33,998)
Loan proceeds	48,100	83,577
Loan transaction costs	(689)	(433)
Loan payments	(41,308)	(90,927)
Distributions paid – common shareholders/unitholders	(22,709)	(21,708)
Distributions paid - preferred shareholders/unitholders	0	(2,114)
Net cash used in financing activities	(18,374)	(67,382)
Net change in cash and cash equivalents	(10,573)	82,918
Cash and cash equivalents, beginning of period	33,880	43,826
Cash and cash equivalents, end of period	23,307	126,744
Assumption of mortgages by buyer upon sale of properties	0	40,303
KRG, LP | Redeemable Noncontrolling Interests
Cash flows from financing activities:
Distributions to noncontrolling interests	(950)	(985)
KRG, LP | Noncontrolling Interests in Properties
Cash flows from financing activities:
Distributions to noncontrolling interests	$ (164)	$ (29)

Organization

Organization	3 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Organization Kite Realty Group Trust (the "Parent Company"), through its majority-owned subsidiary, Kite Realty Group, L.P. (the “Operating Partnership”), owns interests in various operating subsidiaries and joint ventures engaged in the ownership and operation, acquisition, development and redevelopment of high-quality neighborhood and community shopping centers in selected markets in the United States. The terms "Company," "we," "us," and "our" refer to the Parent Company and the Operating Partnership, collectively, and those entities owned or controlled by the Parent Company and/or the Operating Partnership. The Operating Partnership was formed on August 16, 2004, when the Parent Company contributed properties and the net proceeds from an initial public offering of shares of its common stock to the Operating Partnership. The Parent Company was organized in Maryland in 2004 to succeed in the development, acquisition, construction and real estate businesses of its predecessor. We believe the Company qualifies as a real estate investment trust (a “REIT”) under provisions of the Internal Revenue Code of 1986, as amended. The Parent Company is the sole general partner of the Operating Partnership, and as of March 31, 2016 owned approximately 97.7% of the common partnership interests in the Operating Partnership (“General Partner Units”). The remaining 2.3% of the common partnership interests (“Limited Partner Units” and, together with the General Partner Units, the “Common Units”) are owned by the limited partners. As the sole general partner of the Operating Partnership, the Parent Company has full, exclusive and complete responsibility and discretion in the day-to-day management and control of the Operating Partnership. The Parent Company and the Operating Partnership are operated as one enterprise. The management of the Parent Company consists of the same members as the management of the Operating Partnership. As the sole general partner with control of the Operating Partnership, the Parent Company consolidates the Operating Partnership for financial reporting purposes, and the Parent Company does not have any significant assets other than its investment in the Operating Partnership. At March 31, 2016 , we owned interests in 118 operating and redevelopment properties consisting of 108 retail properties, eight retail redevelopment properties, one office operating property and an associated parking garage. We also owned three development properties under construction as of this date.

Basis of Presentation, Consolid

Basis of Presentation, Consolidation, Investments in Joint Ventures, and Noncontrolling Interests	3 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation, Consolidation, Investments in Joint Ventures, and Noncontrolling Interests	Basis of Presentation, Consolidation, Investments in Joint Ventures, and Noncontrolling Interests We have prepared the accompanying unaudited financial statements pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in the financial statements prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) may have been condensed or omitted pursuant to such rules and regulations, although management believes that the disclosures are adequate to make the presentation not misleading. The unaudited financial statements as of March 31, 2016 and for the three months ended March 31, 2016 and 2015 include all adjustments, consisting of normal recurring adjustments, necessary in the opinion of management to present fairly the financial information set forth therein. The consolidated financial statements in this Form 10-Q should be read in conjunction with the audited consolidated financial statements and related notes thereto included in the combined Annual Report on Form 10-K of the Parent Company and the Operating Partnership for the year ended December 31, 2015. The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the disclosure of contingent assets and liabilities, the reported amounts of assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reported period. Actual results could differ from these estimates. The results of operations for the interim periods are not necessarily indicative of the results that may be expected on an annual basis. Consolidation and Investments in Joint Ventures The accompanying financial statements are presented on a consolidated basis and include all accounts of the Parent Company, the Operating Partnership, the taxable REIT subsidiary of the Operating Partnership, subsidiaries of the Operating Partnership that are controlled and any variable interest entities (“VIEs”) in which the Operating Partnership is the primary beneficiary. In general, a VIE is a corporation, partnership, trust or any other legal structure used for business purposes that either (a) has equity investors that do not provide sufficient financial resources for the entity to support its activities, (b) does not have equity investors with voting rights or (c) has equity investors whose votes are disproportionate from their economics and substantially all of the activities are conducted on behalf of the investor with disproportionately fewer voting rights. As of January 1, 2016, we adopted Accounting Standards Update ("ASU") 2015-02, Consolidation: Amendments to the Consolidation Analysis , as required. See "Recently Issued Accounting Pronouncements" for further details. The Operating Partnership accounts for properties that are owned by joint ventures in accordance with the consolidation guidance. The Operating Partnership evaluates each joint venture and determines first whether to follow the variable interest entity ("VIE") or the voting interest entity ("VOE") model. Once the appropriate consolidation model is identified, the Operating Partnership then evaluates whether it should consolidate the joint venture. Under the VIE model, the Operating Partnership consolidates an entity when it has (i) the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance, and (ii) the obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE. Under the VOE model, the Operating Partnership consolidates an entity when (i) it controls the entity through ownership of a majority voting interest if the entity is not a limited partnership or (ii) it controls the entity through its ability to remove the other partners or owners in the entity, at its discretion, when the entity is a limited partnership. In determining whether to consolidate a VIE with the Operating Partnership, we consider all relationships between the Operating Partnership and the applicable VIE, including development agreements, management agreements and other contractual arrangements, in determining whether we have the power to direct the activities of the VIE that most significantly affect the VIE's performance. We also periodically reassess primary beneficiary status of the VIE. Prior to the adoption of ASC 2015-02, we treated one of our consolidated joint ventures as a VIE. During the three months ended March 31, 2016 , as a result of the adoption of ASC 2015-02, we concluded that two additional consolidated joint ventures of the Operating Partnership were VIEs as the partners do not have substantive participating rights and we were the primary beneficiary. As a result, as of March 31, 2016 , we owned investments in three joint ventures that are VIEs in which we are the primary beneficiary. As of this date, these VIEs had total debt of $238.8 million , which is secured by assets of the VIEs totaling $497.8 million . The Operating Partnership guarantees the debt of these VIEs. These conclusions did not impact the Company's financial position or results of operations. As part of the adoption of ASC 2015-02, the Company concluded the Operating Partnership was a VIE as the limited partners do not hold kick-out rights or substantive participating rights. The Parent Company consolidates the Operating Partnership as it is the primary beneficiary in accordance with the VIE model. Income Taxes and REIT Compliance Parent Company The Parent Company, which is considered a corporation for federal income tax purposes, has been organized and intends to continue to operate in a manner that will enable it to maintain its qualification as a REIT for federal income tax purposes. As a result, it generally will not be subject to federal income tax on the earnings that it distributes to the extent it distributes its “REIT taxable income” (determined before the deduction for dividends paid and excluding net capital gains) to shareholders of the Parent Company and meets certain other requirements on a recurring basis. To the extent that it satisfies this distribution requirement, but distributes less than 100% of its taxable income, it will be subject to federal corporate income tax on its undistributed REIT taxable income. REITs are subject to a number of organizational and operational requirements. If the Parent Company fails to qualify as a REIT in any taxable year, it will be subject to federal income tax on its taxable income at regular corporate rates for a period of four years following the year in which qualification is lost. We may also be subject to certain federal, state and local taxes on our income and property and to federal income and excise taxes on our undistributed taxable income even if the Parent Company does qualify as a REIT. The Operating Partnership intends to continue to make distributions to the Parent Company in amounts sufficient to assist the Parent Company in adhering to REIT requirements and maintaining its REIT status. We have elected to treat Kite Realty Holdings, LLC as a taxable REIT subsidiary of the Operating Partnership, and we may elect to treat other subsidiaries as taxable REIT subsidiaries in the future. This election enables us to receive income and provide services that would otherwise be impermissible for a REIT. Deferred tax assets and liabilities are established for temporary differences between the financial reporting bases and the tax bases of assets and liabilities at the tax rates expected to be in effect when the temporary differences reverse. Deferred tax assets are reduced by a valuation allowance if it is more likely than not that some portion or all of the deferred tax asset will not be realized. Operating Partnership The allocated share of income and loss, other than the operations of our taxable REIT subsidiary, is included in the income tax returns of the Operating Partnership's partners. Accordingly, the only federal income taxes included in the accompanying consolidated financial statements are in connection with its taxable REIT subsidiary. Noncontrolling Interests We report the non-redeemable noncontrolling interests in subsidiaries as equity and the amount of consolidated net income attributable to these noncontrolling interests is set forth separately in the consolidated financial statements. The noncontrolling interests in consolidated properties for the three months ended March 31, 2016 and 2015 were as follows: 2016 2015 Noncontrolling interests balance January 1 $ 773 $ 3,364 Net income allocable to noncontrolling interests, 89 28 Distributions to noncontrolling interests (164 ) (29 ) Noncontrolling interests balance at March 31 $ 698 $ 3,363 Redeemable Noncontrolling Interests - Limited Partners Limited Partner Units are redeemable noncontrolling interests in the Operating Partnership. We classify redeemable noncontrolling interests in the Operating Partnership in the accompanying consolidated balance sheets outside of permanent equity because we may be required to pay cash to holders of Limited Partner Units upon redemption of their interests in the Operating Partnership or deliver registered shares upon their conversion. The carrying amount of the redeemable noncontrolling interests in the Operating Partnership is reflected at the greater of historical book value or redemption value with a corresponding adjustment to additional paid-in capital. At March 31, 2016 and December 31, 2015 , the redemption value of the redeemable noncontrolling interests exceeded the historical book value, and the balance was accordingly adjusted to redemption value. We allocate net operating results of the Operating Partnership after preferred dividends and noncontrolling interests in the consolidated properties based on the partners’ respective weighted average ownership interest. We adjust the redeemable noncontrolling interests in the Operating Partnership at the end of each reporting period to reflect their interests in the Operating Partnership or redemption value. This adjustment is reflected in our shareholders’ and Parent Company's equity. For the three months ended March 31, 2016 and 2015 , the weighted average interests of the Parent Company and the limited partners in the Operating Partnership were as follows: Three Months Ended 2016 2015 Parent Company’s weighted average basic interest in 97.7 % 98.1 % Limited partners' weighted average basic interests in 2.3 % 1.9 % At March 31, 2016 and December 31, 2015 , the Parent Company's interest and the limited partners' redeemable noncontrolling ownership interests in the Operating Partnership were 97.7% and 2.3% and 98.1% and 1.9% , respectively. Concurrent with the Parent Company’s initial public offering and related formation transactions, certain individuals received Limited Partner Units of the Operating Partnership in exchange for their interests in certain properties. The limited partners were granted the right to redeem Limited Partner Units on or after August 16, 2005 for cash or, at the Parent Company's election, common shares of the Parent Company in an amount equal to the market value of an equivalent number of common shares of the Parent Company at the time of redemption. Such common shares must be registered, which is not fully in the Parent Company’s control. Therefore, the limited partners’ interest is not reflected in permanent equity. The Parent Company also has the right to redeem the Limited Partner Units directly from the limited partner in exchange for either cash in the amount specified above or a number of its common shares equal to the number of Limited Partner Units being redeemed. For the three months ended March 31, 2016 and 2015 , respectively, 2,000 and 3,000 Limited Partner Units were exchanged for the same number of common shares of the Parent Company. There were 1,945,840 and 1,901,278 Limited Partner Units outstanding as of March 31, 2016 and December 31, 2015 , respectively. The increase in Limited Partner Units outstanding from December 31, 2015 is due primarily to non-cash compensation awards previously made to our executive officers in the form of Limited Partner Units. Redeemable Noncontrolling Interests - Subsidiaries Prior to the merger with Inland Diversified Real Estate Trust, Inc. ("Inland Diversified") in 2014, Inland Diversified formed joint ventures with the previous owners of certain properties and issued Class B units in three joint ventures that indirectly own those properties. The Class B units related to two of these three joint ventures remain outstanding subsequent to the merger with Inland Diversified and are accounted for as noncontrolling interests in these properties. The Class B units will become redeemable at our applicable partner’s election at future dates generally beginning in March 2017 or October 2022 based on the applicable joint venture and the fulfillment of certain redemption criteria. Beginning in June 2018 and November 2022, with respect to the applicable joint venture, the Class B units can be redeemed at the election of either our partner or us for cash or Limited Partner Units in the Operating Partnership. None of the issued Class B units have a maturity date and none are mandatorily redeemable. We consolidate these joint ventures because we control the decision making of each of the joint ventures and our joint venture partners have limited protective rights. On February 13, 2015, we acquired our partner’s redeemable interest in the City Center operating property for $34.0 million and other non-redeemable rights and interests held by our partner for $0.4 million . We funded this acquisition with a $30 million draw on our unsecured revolving credit facility and the remainder in Limited Partner Units in the Operating Partnership. As a result of this transaction, our guarantee of a $26.6 million loan on behalf of LC White Plains Retail, LLC and LC White Plains Recreation, LLC was terminated. We classify redeemable noncontrolling interests in certain subsidiaries in the accompanying consolidated balance sheets outside of permanent equity because, under certain circumstances, we may be required to pay cash to Class B unitholders in specific subsidiaries upon redemption of their interests. The carrying amount of these redeemable noncontrolling interests is required to be reflected at the greater of initial book value or redemption value with a corresponding adjustment to additional paid-in capital. As of March 31, 2016 and December 31, 2015, the redemption amounts of these interests did not exceed the fair value of each interest. As of March 31, 2016 and December 31, 2015, the redemption value of the redeemable noncontrolling interests exceeded the initial book value. The redeemable noncontrolling interests in the Operating Partnership and subsidiaries for the three months ended March 31, 2016 and 2015 were as follows: 2016 2015 Redeemable noncontrolling interests balance January 1 $ 92,315 $ 125,082 Acquisition of partner's interest in City Center operating property — (33,998 ) Net income allocable to redeemable noncontrolling interests 482 655 Distributions declared to redeemable noncontrolling interests (992 ) (1,006 ) Other, net, including adjustments to redemption value 7,216 414 Total limited partners' interests in Operating Partnership and other redeemable noncontrolling interests balance at March 31 $ 99,021 $ 91,147 Limited partners' interests in Operating Partnership $ 54,921 $ 46,564 Other redeemable noncontrolling interests in certain subsidiaries 44,100 44,583 Total limited partners' interests in Operating Partnership and other redeemable noncontrolling interests balance at March 31 $ 99,021 $ 91,147 Recently Issued Accounting Pronouncements In May 2014, the Financial Accounting Standards Board ("FASB") issued ASU 2014-9, Revenue from Contracts with Customers (“ASU 2014-9”). ASU 2014-9 is a comprehensive revenue recognition standard that will supersede nearly all existing GAAP revenue recognition guidance. It will also affect the existing GAAP guidance governing the sale of nonfinancial assets. The new standard’s core principle is that a company will recognize revenue when it satisfies performance obligations by transferring promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for fulfilling those performance obligations. In doing so, companies will need to exercise more judgment and make more estimates than under existing GAAP guidance. Under the new standard, entities will now generally recognize the sale, and any associated gain or loss, of a real estate property when control of the property transfers, as long as collectability of the consideration is probable. The new standard also amends ASC 340-40, Other Assets and Deferred Costs - Contracts with Customers. Under ASC 340-40, incremental costs of obtaining a contract are recognized as an asset if the entity expects to recover them. Other costs related to originating a revenue transaction, such as salary expense, that is based on other qualitative or quantitative metrics likely do not meet the criteria for capitalization because they are not directly related to obtaining a contract. Upon adoption of the new standard, we expect an increase in General, administrative, and other expense on our consolidated statement of operations and a decrease in amortization expense. We are currently evaluating the impact adopting the new accounting standard and the transition method of such adoption will have on our consolidated financial statements. ASU 2014-9 is effective for public entities for annual and interim reporting periods beginning after December 15, 2017 and early adoption is not permitted. ASU 2014-9 allows for either recognizing the cumulative effect of application (i) at the start of the earliest comparative period presented (with the option to use any or all of three practical expedients) or (ii) as a cumulative effect adjustment as of the date of initial application, with no restatement of comparative periods presented. In February 2015, the FASB issued ASU 2015-02, Consolidation: Amendments to the Consolidation Analysis . ASU 2015-02 makes changes to both the VIE and VOE models, amended the criteria for determining VIEs and eliminated the presumption that a general partner should consolidate a limited partnership. All reporting entities involved with limited partnerships and similar entities were required to re-evaluate whether these entities, including the Operating Partnership, are subject to the VIE or VOE model and whether they qualify for consolidation. We adopted ASU 2015-02 in the first quarter of 2016 and although we classified two additional consolidated joint ventures of the Operating Partnership as VIEs (for a total of three consolidated VIEs as of March 31, 2016), there was no material effect on our consolidated financial statements. In April 2015, the FASB issued ASU 2015-03, Simplifying the Presentation of Debt Issuance Costs ("ASU 2015-03"). ASU 2015-03 requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability. Prior to the issuance of ASU 2015-03, debt issuance costs were required to be presented as deferred charge assets, separate from the related debt liability. ASU 2015-03 is effective for annual and interim reporting periods beginning on or after December 15, 2015. We adopted ASU 2015-03 retrospectively in the first quarter of 2016. As a result of the retrospective adoption, we reclassified unamortized deferred financing costs of $9.0 million and $9.6 million as of March 31, 2016 and December 31, 2015, respectively, from deferred costs and intangibles, net to a reduction in mortgage and other indebtedness, net on our consolidated balance sheets. Other than this reclassification, the adoption of ASU 2015-03 did not have an impact on our consolidated financial statements. In September 2015, the FASB issued ASU 2015-16, Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments. ASU 2015-16 eliminates the requirement for an acquirer in a business combination to account for measurement-period adjustments retrospectively. ASU 2015-16 requires that an acquirer must recognize measurement-period adjustments in the period in which they determine the amounts, including the effect on earnings of any amounts they would have recorded in previous periods if the accounting had been completed at the acquisition date. ASU 2015-16 is effective for annual and interim reporting periods beginning on or after December 15, 2015. We adopted ASU 2015-16 in the first quarter of 2016 and there was no effect on our consolidated financial statements as we did not have any business combinations during this period. In February 2016, the FASB issued ASU 2016-02, Leases . ASU 2016-02 amends the existing accounting standards for lease accounting, including requiring lessees to recognize most leases on their balance sheets and making certain changes to lessor accounting, including the accounting for sales-type and direct financing leases. ASU 2016-02 will be effective for annual and interim reporting periods beginning on or after December 15, 2018, with early adoption permitted. The new standard requires a modified retrospective transition approach for all leases existing at, or entered into after, the date of initial application, with an option to use certain transition relief. We are currently evaluating the impact adopting the new accounting standard will have on our consolidated financial statements.

Earnings Per Share or Unit

Earnings Per Share or Unit	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Earnings Per Share or Unit	Earnings Per Share or Unit Basic earnings per share or unit is calculated based on the weighted average number of common shares or units outstanding during the period. Diluted earnings per share or unit is determined based on the weighted average common number of shares or units outstanding during the period combined with the incremental average common shares or units that would have been outstanding assuming the conversion of all potentially dilutive common shares or units into common shares or units as of the earliest date possible. Potentially dilutive securities include outstanding options to acquire common shares; Limited Partner Units, which may be exchanged for either cash or common shares, at the Parent Company’s option and under certain circumstances; units under our Outperformance Plan; potential settlement of redeemable noncontrolling interests in certain joint ventures; and deferred common share units, which may be credited to the personal accounts of non-employee trustees in lieu of the payment of cash compensation or the issuance of common shares to such trustees. Limited Partner Units have been omitted from the Parent Company’s denominator for the purpose of computing diluted earnings per share because the effect of including these amounts in the denominator would have no dilutive impact. Weighted average Limited Partner Units outstanding for the three months ended March 31, 2016 and 2015 were 1.9 million and 1.6 million , respectively. Approximately 0.1 million outstanding options to acquire common shares were excluded from the computations of diluted earnings per share or unit for both the three months ended March 31, 2016 and 2015 , because the impact was not dilutive.

Mortgage and Other Indebtedness

Mortgage and Other Indebtedness	3 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
Mortgage and Other Indebtedness	Mortgage and Other Indebtedness Mortgage and other indebtedness consisted of the following at March 31, 2016 and December 31, 2015 : As of March 31, 2016 Principal Unamortized Net Premiums Unamortized Deferred Financing Costs 1 Total Senior unsecured notes $ 250,000 $ — $ (2,764 ) $ 247,236 Unsecured revolving credit facility 68,100 — (1,557 ) 66,543 Unsecured term loan 500,000 — (2,797 ) 497,203 Notes payable secured by properties under construction - variable rate 132,776 — (90 ) 132,686 Mortgage notes payable - fixed rate 715,368 15,506 (1,385 ) 729,489 Mortgage notes payable - variable rate 58,085 — (455 ) 57,630 Total mortgage and other indebtedness $ 1,724,329 $ 15,506 $ (9,048 ) $ 1,730,787 As of December 31, 2015 Principal Unamortized Net Premiums Unamortized Deferred Financing Costs 1 Total Senior unsecured notes $ 250,000 $ — $ (2,755 ) $ 247,245 Unsecured revolving credit facility 20,000 — (1,727 ) 18,273 Unsecured term loan 500,000 — (2,985 ) 497,015 Notes payable secured by properties under construction - variable rate 132,776 — (133 ) 132,643 Mortgage notes payable - fixed rate 756,494 16,521 (1,555 ) 771,460 Mortgage notes payable - variable rate 58,268 — (455 ) 57,813 Total mortgage and other indebtedness $ 1,717,538 $ 16,521 $ (9,610 ) $ 1,724,449 ____________________ 1 Effective March 31, 2016, we adopted ASC 2015-03, Simplifying the Presentation of Debt Issuance Costs, which changes the presentation of deferred financing costs on the consolidated balance sheets. This guidance was adopted retrospectively and all prior periods have been adjusted to reflect this change in accounting principle. Consolidated indebtedness, including weighted average maturities and weighted average interest rates as of March 31, 2016 , considering the impact of interest rate swaps, is summarized below: Outstanding Amount Ratio Weighted Average Weighted Average Fixed rate debt 1 $ 1,460,714 84 % 4.12 % 5.3 Variable rate debt 263,615 16 % 1.97 % 3.7 Net debt premiums and issuance costs, net 6,458 N/A N/A N/A Total $1,730,787 100 % 3.80 % 5.1 ____________________ 1 Calculations on fixed rate debt include the portion of variable rate debt that has been hedged; therefore, calculations on variable rate debt exclude the portion of variable rate debt that has been hedged. $495.3 million in variable rate debt is hedged for a weighted average 1.8 years. Mortgage and construction loans are collateralized by certain real estate properties and leases. Mortgage loans are generally due in monthly installments of interest and principal and mature over various terms through 2030. Variable interest rates on mortgage and construction loans are based on LIBOR plus spreads ranging from 135 to 225 basis points. At March 31, 2016 , the one-month LIBOR interest rate was 0.44% . Fixed interest rates on mortgage loans range from 3.78% to 6.78% . Unsecured Revolving Credit Facility and Unsecured Term Loans We have an unsecured revolving credit facility with a total commitment of $500 million , a $400 million unsecured term loan and a seven -year unsecured term loan for up to $200 million on which we have drawn $100 million . The amount that we may borrow under our unsecured revolving credit facility is based on the value of the assets in our unencumbered asset pool. The senior unsecured notes and the unsecured term loans are included in the total borrowings outstanding for the purpose of determining the amount we may borrow under our unsecured revolving credit facility. Taking into account outstanding borrowings and letters of credit, we had $377.6 million available under our unsecured revolving credit facility for future borrowings as of March 31, 2016 . As of March 31, 2016 , $68.1 million was outstanding under the unsecured revolving credit facility and $500 million was outstanding under our unsecured term loans. Additionally, we had letters of credit outstanding which totaled $15.8 million , against which no amounts were advanced as of March 31, 2016 . Our ability to borrow under the unsecured revolving credit facility is subject to our compliance with various restrictive and financial covenants, including with respect to liens, indebtedness, investments, dividends, mergers and asset sales. As of March 31, 2016 , we were in compliance with all such covenants. Other Debt Activity For the three months ended March 31, 2016 , we had total new borrowings of $48.1 million and total repayments of $41.3 million . The major components of this activity are as follows: • In the first quarter of 2016, we retired the $16.3 million loan secured by our Cool Creek Commons operating property and the $23.6 million loan secured by our Sunland Towne Centre operating property; • We borrowed $48.1 million on the revolving credit facility to fund the above retirements of secured debt and for general business purposes; and • We made scheduled principal payments on indebtedness totaling $1.4 million in the first three months of 2016. Fair Value of Fixed and Variable Rate Debt As of March 31, 2016 , the estimated fair value of our fixed rate debt, was $1.1 billion compared to the book value of $1.0 billion . The fair value was estimated using Level 2 and 3 inputs with cash flows discounted at current borrowing rates for similar instruments which ranged from 3.78% to 6.78% . As of March 31, 2016 , the fair value of variable rate debt was $781.9 million compared to the book value of $759.0 million . The fair value was estimated using Level 2 and 3 inputs with cash flows discounted at current borrowing rates for similar instruments which ranged from 1.79% to 2.69% .

Derivative Instruments, Hedging

Derivative Instruments, Hedging Activities and Other Comprehensive Income	3 Months Ended
	Mar. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments, Hedging Activities and Other Comprehensive Income	Derivative Instruments, Hedging Activities and Other Comprehensive Income In order to manage potential future volatility relating to variable interest rate risk, we enter into interest rate hedging agreements from time to time. We do not use derivatives for trading or speculative purposes, nor do we have any derivatives that are not designated as cash flow hedges. The agreements with each of our derivative counterparties provide that, in the event of default on any of our indebtedness, we could also be declared in default on our derivative obligations. As of March 31, 2016 , we were party to various cash flow hedge agreements with notional amounts totaling $648.3 million . These hedge agreements effectively fix the interest rate underlying certain variable rate debt instruments over terms ranging from 2016 through 2020 . Utilizing a weighted average interest rate spread over LIBOR on all variable rate debt resulted in fixing the weighted average interest rate at 2.78% . In January 2016, we entered into two forward-starting interest rate swaps that will effectively fix the interest rate on $150 million of previously unhedged variable rate debt at 3.208% . The effective date of the swaps is June 30, 2016, and they will expire on July 1, 2021. These interest rate hedge agreements are the only assets or liabilities that we record at fair value on a recurring basis. The valuation of these assets and liabilities is determined using widely accepted techniques including discounted cash flow analysis. These techniques consider the contractual terms of the derivatives (including the period to maturity) and use observable market-based inputs such as interest rate curves and implied volatilities. We also incorporate credit valuation adjustments into the fair value measurements to reflect nonperformance risk on both our part and that of the respective counterparties. As a basis for considering market participant assumptions in fair value measurements, accounting guidance establishes a fair value hierarchy that distinguishes between market participant assumptions based on market data obtained from sources independent of the reporting entity (observable inputs for identical instruments that are classified within Level 1 and observable inputs for similar instruments that are classified within Level 2) and the reporting entity’s own assumptions about market participant assumptions (unobservable inputs classified within Level 3). In instances where the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy, the level in the fair value hierarchy within which the entire fair value measurement falls is based on the lowest level input that is significant to the fair value measurement in its entirety. Our assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the asset or liability. Although we have determined that the majority of the inputs used to value our derivatives fall within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with our derivatives utilize Level 3 inputs, such as estimates of current credit spreads to evaluate the likelihood of default by us and our counterparties. However, as of March 31, 2016 and December 31, 2015 , we have assessed the significance of the impact of the credit valuation adjustments on the overall valuation of our derivative positions and have determined that the credit valuation adjustments are not significant to the overall valuation of our derivatives. As a result, we have determined that our derivative valuations are classified in Level 2 of the fair value hierarchy. As of March 31, 2016 the estimated fair value of our interest rate hedges was a liability of $11.8 million , including accrued interest of $0.3 million . As of March 31, 2016 , $11.8 million is reflected in accounts payable and accrued expenses on the accompanying consolidated balance sheets. At December 31, 2015 the estimated fair value of our interest rate hedges was a net liability of $4.8 million , including accrued interest of $0.4 million . As of December 31, 2015 , $0.2 million is reflected in prepaid and other assets and $5.0 million is reflected in accounts payable and accrued expenses on the accompanying consolidated balance sheets. Amounts reported in accumulated other comprehensive income related to derivatives will be reclassified to earnings over time as the hedged items are recognized in earnings. During the three months ended March 31, 2016 and 2015 , $1.0 million and $1.4 million , respectively, were reclassified as a reduction to earnings. As the interest payments on our hedges are made over the next 12 months, we estimate the impact to interest expense to be $4.1 million . Our share of net unrealized gains and losses on our interest rate hedge agreements are the only components of the change in accumulated other comprehensive loss.

Shareholders' Equity

Shareholders' Equity	3 Months Ended
	Mar. 31, 2016
Stockholders' Equity Note [Abstract]
Shareholders' Equity	Shareholders’ Equity Distribution Payments Our Board of Trustees declared a cash distribution of $0.2875 for the first quarter of 2016 to common shareholders and Common Unit holders of record as of April 6, 2016, which represents a 5.5% increase over our previous quarterly distribution. The distribution was paid on April 13, 2016. Outperformance Plan In January 2016, the Compensation Committee of our Board of Trustees adopted the 2016 Outperformance Program for members of executive management and certain other employees, pursuant to which participants are eligible to earn profits interests ("LTIP Units") in the Operating Partnership based on the achievement of certain performance criteria related to the Company’s common shares. Participants in the 2016 Outperformance Plan were awarded the right to earn, in the aggregate, up to $6 million of share-settled awards (the “bonus pool”) if, and only to the extent of which, based on our total shareholder return (“TSR”) performance measures are achieved for the three -year period beginning January 4, 2016 and ending December 31, 2018. Awarded interests not earned based on the TSR measures are forfeited. If the TSR performance measures are achieved at the end of the three -year performance period, participants will receive their percentage interest in the bonus pool as LTIP Units in the Operating Partnership. Such LTIP Units vest over an additional two -year service period. The compensation cost of the 2016 Outperformance Plan is fixed as of the grant date and is recognized regardless of whether the LTIP Units are ultimately earned or if the service requirement is met. Restricted Award Grants In February 2016, a total of 103,685 restricted awards were granted to members of executive management and certain other employees. The restricted awards will vest ratably over periods ranging from three to five years. Performance Awards In February 2016, the Compensation Committee awarded each of four executive officers a three -year performance award in the form of restricted performance share units ("PSUs"). These PSUs may be earned over a three -year performance period from January 1, 2016 to December 31, 2018. The performance criteria are based on the relative total shareholder return ("TSR") achieved by the Company measured against a peer group over the three -year measurement period. Any PSUs earned at the end of the three -year period will be fully vested at that date. The total number of PSUs issued to the executive officers was based on a target value of $1.0 million but may be earned in a range from 0% to 200% of the target value depending on our TSR over the measurement period in relation to the peer group.

Deferred Costs

Deferred Costs	3 Months Ended
	Mar. 31, 2016
Deferred Costs [Abstract]
Deferred Costs	Deferred costs consist primarily of acquired lease intangible assets, broker fees and capitalized salaries and related benefits incurred in connection with lease originations. Deferred leasing costs, lease intangibles and similar costs are amortized on a straight-line basis over the terms of the related leases. At March 31, 2016 and December 31, 2015 , deferred costs consisted of the following: March 31, December 31, Acquired lease intangible assets $ 134,501 $ 138,796 Deferred leasing costs and other 57,293 55,332 191,794 194,128 Less—accumulated amortization (48,766 ) (45,854 ) Total $ 143,028 $ 148,274 The accompanying consolidated statements of operations include amortization expense as follows: Three Months Ended 2016 2015 Amortization of deferred leasing costs, lease intangibles and other $ 6,269 $ 5,889 Amortization of above market lease intangibles 1,236 1,632 Amortization of deferred leasing costs, leasing intangibles and other is included in depreciation and amortization expense. The amortization of above market lease intangibles is included as a reduction to revenue.

Deferred Revenue and Other Liab

Deferred Revenue and Other Liabilities	3 Months Ended
	Mar. 31, 2016
Deferred Revenue Disclosure [Abstract]
Deferred Revenue and Other Liabilities	Deferred Revenue and Other Liabilities Deferred revenue and other liabilities consist of unamortized fair value of in-place lease liabilities recorded in connection with purchase accounting, potential earnout payments related to property acquisitions, retainage payables for development and redevelopment projects, and tenant rent payments received in advance. The amortization of in-place lease liabilities is recognized as revenue over the remaining life of the leases (including option periods for leases with below market renewal options) through 2046. Tenant rent payments received in advance are recognized as revenue in the period to which they apply, which is typically the month following their receipt. At March 31, 2016 and December 31, 2015 , deferred revenue and other liabilities consisted of the following: March 31, December 31, Unamortized in-place lease liabilities $ 109,753 $ 112,405 Retainage payables and other 5,980 5,636 Assumed earnout liability (Note 9) 1,380 1,380 Tenant rent payments received in advance 10,371 12,138 Total $ 127,484 $ 131,559 The amortization of below market lease intangibles was $2.4 million for both the three months ended March 31, 2016 and 2015 . The amortization of below market lease intangibles is included as an increase to revenue.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Other Commitments and Contingencies We are not subject to any material litigation nor, to management’s knowledge, is any material litigation currently threatened against us. We are parties to routine litigation, claims, and administrative proceedings arising in the ordinary course of business. Management believes that such routine litigation, claims, and administrative proceedings will not have a material adverse impact on our consolidated financial statements. We are obligated under various completion guarantees with certain lenders and lease agreements with tenants to complete all or portions of the development and redevelopment projects. We believe we currently have sufficient financing in place to fund these projects and expect to do so primarily through existing construction loans. In addition, if necessary, we may make draws on our unsecured revolving credit facility. As of March 31, 2016 , we had outstanding letters of credit totaling $15.8 million . At that date, there were no amounts advanced against these instruments. Previously Assumed Earnout Liability We are a party to an earnout arrangement with the former seller of one of our operating properties, whereby we are required to pay the seller additional consideration based on whether the seller was able to lease certain vacant space at the property. The potential earnout liability was $1.4 million at both March 31, 2016 and December 31, 2015. Any difference would impact earnings and be reflected in the consolidated statements of operations in the period the settlement is determined.

Disposal of Operating Propertie

Disposal of Operating Properties	3 Months Ended
	Mar. 31, 2016
Discontinued Operations and Disposal Groups [Abstract]
Disposal of Operating Properties	Disposals of Operating Properties During the three months ended March 31, 2016 , we did not dispose of any operating properties. During the fourth quarter of 2015, we sold our Four Corner operating property in Seattle, Washington, and our Cornelius Gateway operating property in Portland, Oregon, for aggregate proceeds of $44.9 million and a net gain of $0.6 million . In March 2015, we sold seven properties for aggregate net proceeds of $103.0 million and a net gain of $3.4 million . The results of these operating properties are not included in discontinued operations in the accompanying statements of operations as none of the operating properties individually, nor in the aggregate, represent a strategic shift that has had or will have a material effect on our operations or financial results.

Acquisitions

Acquisitions	3 Months Ended
	Mar. 31, 2016
Business Combinations [Abstract]
Acquisitions	Acquisitions During the three months ended March 31, 2016 , we did not acquire any operating properties. In 2015, we acquired four operating properties for total consideration of $185.8 million , including the assumption of an $18.3 million loan, which are summarized below: Property Name MSA Acquisition Date Owned GLA Colleyville Downs Dallas, TX April 2015 185,848 Belle Isle Station Oklahoma City, OK May 2015 164,327 Livingston Shopping Center New York - Newark July 2015 139,657 Chapel Hill Shopping Center Fort Worth / Dallas, TX August 2015 126,755

Basis of Presentation, Consol19

Basis of Presentation, Consolidation, Investments in Joint Ventures, and Noncontrolling Interests (Policies)	3 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Consolidation and Investments in Joint Ventures	Consolidation and Investments in Joint Ventures The accompanying financial statements are presented on a consolidated basis and include all accounts of the Parent Company, the Operating Partnership, the taxable REIT subsidiary of the Operating Partnership, subsidiaries of the Operating Partnership that are controlled and any variable interest entities (“VIEs”) in which the Operating Partnership is the primary beneficiary. In general, a VIE is a corporation, partnership, trust or any other legal structure used for business purposes that either (a) has equity investors that do not provide sufficient financial resources for the entity to support its activities, (b) does not have equity investors with voting rights or (c) has equity investors whose votes are disproportionate from their economics and substantially all of the activities are conducted on behalf of the investor with disproportionately fewer voting rights. As of January 1, 2016, we adopted Accounting Standards Update ("ASU") 2015-02, Consolidation: Amendments to the Consolidation Analysis , as required. See "Recently Issued Accounting Pronouncements" for further details. The Operating Partnership accounts for properties that are owned by joint ventures in accordance with the consolidation guidance. The Operating Partnership evaluates each joint venture and determines first whether to follow the variable interest entity ("VIE") or the voting interest entity ("VOE") model. Once the appropriate consolidation model is identified, the Operating Partnership then evaluates whether it should consolidate the joint venture. Under the VIE model, the Operating Partnership consolidates an entity when it has (i) the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance, and (ii) the obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE. Under the VOE model, the Operating Partnership consolidates an entity when (i) it controls the entity through ownership of a majority voting interest if the entity is not a limited partnership or (ii) it controls the entity through its ability to remove the other partners or owners in the entity, at its discretion, when the entity is a limited partnership. In determining whether to consolidate a VIE with the Operating Partnership, we consider all relationships between the Operating Partnership and the applicable VIE, including development agreements, management agreements and other contractual arrangements, in determining whether we have the power to direct the activities of the VIE that most significantly affect the VIE's performance. We also periodically reassess primary beneficiary status of the VIE. Prior to the adoption of ASC 2015-02, we treated one of our consolidated joint ventures as a VIE. During the three months ended March 31, 2016 , as a result of the adoption of ASC 2015-02, we concluded that two additional consolidated joint ventures of the Operating Partnership were VIEs as the partners do not have substantive participating rights and we were the primary beneficiary. As a result, as of March 31, 2016 , we owned investments in three joint ventures that are VIEs in which we are the primary beneficiary. As of this date, these VIEs had total debt of $238.8 million , which is secured by assets of the VIEs totaling $497.8 million . The Operating Partnership guarantees the debt of these VIEs. These conclusions did not impact the Company's financial position or results of operations.
Income Tax, Policy	Income Taxes and REIT Compliance Parent Company The Parent Company, which is considered a corporation for federal income tax purposes, has been organized and intends to continue to operate in a manner that will enable it to maintain its qualification as a REIT for federal income tax purposes. As a result, it generally will not be subject to federal income tax on the earnings that it distributes to the extent it distributes its “REIT taxable income” (determined before the deduction for dividends paid and excluding net capital gains) to shareholders of the Parent Company and meets certain other requirements on a recurring basis. To the extent that it satisfies this distribution requirement, but distributes less than 100% of its taxable income, it will be subject to federal corporate income tax on its undistributed REIT taxable income. REITs are subject to a number of organizational and operational requirements. If the Parent Company fails to qualify as a REIT in any taxable year, it will be subject to federal income tax on its taxable income at regular corporate rates for a period of four years following the year in which qualification is lost. We may also be subject to certain federal, state and local taxes on our income and property and to federal income and excise taxes on our undistributed taxable income even if the Parent Company does qualify as a REIT. The Operating Partnership intends to continue to make distributions to the Parent Company in amounts sufficient to assist the Parent Company in adhering to REIT requirements and maintaining its REIT status. We have elected to treat Kite Realty Holdings, LLC as a taxable REIT subsidiary of the Operating Partnership, and we may elect to treat other subsidiaries as taxable REIT subsidiaries in the future. This election enables us to receive income and provide services that would otherwise be impermissible for a REIT. Deferred tax assets and liabilities are established for temporary differences between the financial reporting bases and the tax bases of assets and liabilities at the tax rates expected to be in effect when the temporary differences reverse. Deferred tax assets are reduced by a valuation allowance if it is more likely than not that some portion or all of the deferred tax asset will not be realized. Operating Partnership The allocated share of income and loss, other than the operations of our taxable REIT subsidiary, is included in the income tax returns of the Operating Partnership's partners. Accordingly, the only federal income taxes included in the accompanying consolidated financial statements are in connection with its taxable REIT subsidiary.
Investments, Policy	Noncontrolling Interests We report the non-redeemable noncontrolling interests in subsidiaries as equity and the amount of consolidated net income attributable to these noncontrolling interests is set forth separately in the consolidated financial statements. The noncontrolling interests in consolidated properties for the three months ended March 31, 2016 and 2015 were as follows: 2016 2015 Noncontrolling interests balance January 1 $ 773 $ 3,364 Net income allocable to noncontrolling interests, 89 28 Distributions to noncontrolling interests (164 ) (29 ) Noncontrolling interests balance at March 31 $ 698 $ 3,363 Redeemable Noncontrolling Interests - Limited Partners Limited Partner Units are redeemable noncontrolling interests in the Operating Partnership. We classify redeemable noncontrolling interests in the Operating Partnership in the accompanying consolidated balance sheets outside of permanent equity because we may be required to pay cash to holders of Limited Partner Units upon redemption of their interests in the Operating Partnership or deliver registered shares upon their conversion. The carrying amount of the redeemable noncontrolling interests in the Operating Partnership is reflected at the greater of historical book value or redemption value with a corresponding adjustment to additional paid-in capital. At March 31, 2016 and December 31, 2015 , the redemption value of the redeemable noncontrolling interests exceeded the historical book value, and the balance was accordingly adjusted to redemption value. We allocate net operating results of the Operating Partnership after preferred dividends and noncontrolling interests in the consolidated properties based on the partners’ respective weighted average ownership interest. We adjust the redeemable noncontrolling interests in the Operating Partnership at the end of each reporting period to reflect their interests in the Operating Partnership or redemption value. This adjustment is reflected in our shareholders’ and Parent Company's equity. For the three months ended March 31, 2016 and 2015 , the weighted average interests of the Parent Company and the limited partners in the Operating Partnership were as follows: Three Months Ended 2016 2015 Parent Company’s weighted average basic interest in 97.7 % 98.1 % Limited partners' weighted average basic interests in 2.3 % 1.9 % At March 31, 2016 and December 31, 2015 , the Parent Company's interest and the limited partners' redeemable noncontrolling ownership interests in the Operating Partnership were 97.7% and 2.3% and 98.1% and 1.9% , respectively. Concurrent with the Parent Company’s initial public offering and related formation transactions, certain individuals received Limited Partner Units of the Operating Partnership in exchange for their interests in certain properties. The limited partners were granted the right to redeem Limited Partner Units on or after August 16, 2005 for cash or, at the Parent Company's election, common shares of the Parent Company in an amount equal to the market value of an equivalent number of common shares of the Parent Company at the time of redemption. Such common shares must be registered, which is not fully in the Parent Company’s control. Therefore, the limited partners’ interest is not reflected in permanent equity. The Parent Company also has the right to redeem the Limited Partner Units directly from the limited partner in exchange for either cash in the amount specified above or a number of its common shares equal to the number of Limited Partner Units being redeemed. For the three months ended March 31, 2016 and 2015 , respectively, 2,000 and 3,000 Limited Partner Units were exchanged for the same number of common shares of the Parent Company. There were 1,945,840 and 1,901,278 Limited Partner Units outstanding as of March 31, 2016 and December 31, 2015 , respectively. The increase in Limited Partner Units outstanding from December 31, 2015 is due primarily to non-cash compensation awards previously made to our executive officers in the form of Limited Partner Units. Redeemable Noncontrolling Interests - Subsidiaries Prior to the merger with Inland Diversified Real Estate Trust, Inc. ("Inland Diversified") in 2014, Inland Diversified formed joint ventures with the previous owners of certain properties and issued Class B units in three joint ventures that indirectly own those properties. The Class B units related to two of these three joint ventures remain outstanding subsequent to the merger with Inland Diversified and are accounted for as noncontrolling interests in these properties. The Class B units will become redeemable at our applicable partner’s election at future dates generally beginning in March 2017 or October 2022 based on the applicable joint venture and the fulfillment of certain redemption criteria. Beginning in June 2018 and November 2022, with respect to the applicable joint venture, the Class B units can be redeemed at the election of either our partner or us for cash or Limited Partner Units in the Operating Partnership. None of the issued Class B units have a maturity date and none are mandatorily redeemable. We consolidate these joint ventures because we control the decision making of each of the joint ventures and our joint venture partners have limited protective rights. On February 13, 2015, we acquired our partner’s redeemable interest in the City Center operating property for $34.0 million and other non-redeemable rights and interests held by our partner for $0.4 million . We funded this acquisition with a $30 million draw on our unsecured revolving credit facility and the remainder in Limited Partner Units in the Operating Partnership. As a result of this transaction, our guarantee of a $26.6 million loan on behalf of LC White Plains Retail, LLC and LC White Plains Recreation, LLC was terminated. We classify redeemable noncontrolling interests in certain subsidiaries in the accompanying consolidated balance sheets outside of permanent equity because, under certain circumstances, we may be required to pay cash to Class B unitholders in specific subsidiaries upon redemption of their interests. The carrying amount of these redeemable noncontrolling interests is required to be reflected at the greater of initial book value or redemption value with a corresponding adjustment to additional paid-in capital. As of March 31, 2016 and December 31, 2015, the redemption amounts of these interests did not exceed the fair value of each interest. As of March 31, 2016 and December 31, 2015, the redemption value of the redeemable noncontrolling interests exceeded the initial book value.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In May 2014, the Financial Accounting Standards Board ("FASB") issued ASU 2014-9, Revenue from Contracts with Customers (“ASU 2014-9”). ASU 2014-9 is a comprehensive revenue recognition standard that will supersede nearly all existing GAAP revenue recognition guidance. It will also affect the existing GAAP guidance governing the sale of nonfinancial assets. The new standard’s core principle is that a company will recognize revenue when it satisfies performance obligations by transferring promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for fulfilling those performance obligations. In doing so, companies will need to exercise more judgment and make more estimates than under existing GAAP guidance. Under the new standard, entities will now generally recognize the sale, and any associated gain or loss, of a real estate property when control of the property transfers, as long as collectability of the consideration is probable. The new standard also amends ASC 340-40, Other Assets and Deferred Costs - Contracts with Customers. Under ASC 340-40, incremental costs of obtaining a contract are recognized as an asset if the entity expects to recover them. Other costs related to originating a revenue transaction, such as salary expense, that is based on other qualitative or quantitative metrics likely do not meet the criteria for capitalization because they are not directly related to obtaining a contract. Upon adoption of the new standard, we expect an increase in General, administrative, and other expense on our consolidated statement of operations and a decrease in amortization expense. We are currently evaluating the impact adopting the new accounting standard and the transition method of such adoption will have on our consolidated financial statements. ASU 2014-9 is effective for public entities for annual and interim reporting periods beginning after December 15, 2017 and early adoption is not permitted. ASU 2014-9 allows for either recognizing the cumulative effect of application (i) at the start of the earliest comparative period presented (with the option to use any or all of three practical expedients) or (ii) as a cumulative effect adjustment as of the date of initial application, with no restatement of comparative periods presented. In February 2015, the FASB issued ASU 2015-02, Consolidation: Amendments to the Consolidation Analysis . ASU 2015-02 makes changes to both the VIE and VOE models, amended the criteria for determining VIEs and eliminated the presumption that a general partner should consolidate a limited partnership. All reporting entities involved with limited partnerships and similar entities were required to re-evaluate whether these entities, including the Operating Partnership, are subject to the VIE or VOE model and whether they qualify for consolidation. We adopted ASU 2015-02 in the first quarter of 2016 and although we classified two additional consolidated joint ventures of the Operating Partnership as VIEs (for a total of three consolidated VIEs as of March 31, 2016), there was no material effect on our consolidated financial statements. In April 2015, the FASB issued ASU 2015-03, Simplifying the Presentation of Debt Issuance Costs ("ASU 2015-03"). ASU 2015-03 requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability. Prior to the issuance of ASU 2015-03, debt issuance costs were required to be presented as deferred charge assets, separate from the related debt liability. ASU 2015-03 is effective for annual and interim reporting periods beginning on or after December 15, 2015. We adopted ASU 2015-03 retrospectively in the first quarter of 2016. As a result of the retrospective adoption, we reclassified unamortized deferred financing costs of $9.0 million and $9.6 million as of March 31, 2016 and December 31, 2015, respectively, from deferred costs and intangibles, net to a reduction in mortgage and other indebtedness, net on our consolidated balance sheets. Other than this reclassification, the adoption of ASU 2015-03 did not have an impact on our consolidated financial statements. In September 2015, the FASB issued ASU 2015-16, Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments. ASU 2015-16 eliminates the requirement for an acquirer in a business combination to account for measurement-period adjustments retrospectively. ASU 2015-16 requires that an acquirer must recognize measurement-period adjustments in the period in which they determine the amounts, including the effect on earnings of any amounts they would have recorded in previous periods if the accounting had been completed at the acquisition date. ASU 2015-16 is effective for annual and interim reporting periods beginning on or after December 15, 2015. We adopted ASU 2015-16 in the first quarter of 2016 and there was no effect on our consolidated financial statements as we did not have any business combinations during this period. In February 2016, the FASB issued ASU 2016-02, Leases . ASU 2016-02 amends the existing accounting standards for lease accounting, including requiring lessees to recognize most leases on their balance sheets and making certain changes to lessor accounting, including the accounting for sales-type and direct financing leases. ASU 2016-02 will be effective for annual and interim reporting periods beginning on or after December 15, 2018, with early adoption permitted. The new standard requires a modified retrospective transition approach for all leases existing at, or entered into after, the date of initial application, with an option to use certain transition relief. We are currently evaluating the impact adopting the new accounting standard will have on our consolidated financial statements.

Basis of Presentation, Consol20

Basis of Presentation, Consolidation, Investments in Joint Ventures, and Noncontrolling Interests (Tables)	3 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Stockholders Equity	The noncontrolling interests in consolidated properties for the three months ended March 31, 2016 and 2015 were as follows: 2016 2015 Noncontrolling interests balance January 1 $ 773 $ 3,364 Net income allocable to noncontrolling interests, 89 28 Distributions to noncontrolling interests (164 ) (29 ) Noncontrolling interests balance at March 31 $ 698 $ 3,363
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net	he weighted average interests of the Parent Company and the limited partners in the Operating Partnership were as follows: Three Months Ended 2016 2015 Parent Company’s weighted average basic interest in 97.7 % 98.1 % Limited partners' weighted average basic interests in 2.3 % 1.9 %
Redeemable Noncontrolling Interest	The redeemable noncontrolling interests in the Operating Partnership and subsidiaries for the three months ended March 31, 2016 and 2015 were as follows: 2016 2015 Redeemable noncontrolling interests balance January 1 $ 92,315 $ 125,082 Acquisition of partner's interest in City Center operating property — (33,998 ) Net income allocable to redeemable noncontrolling interests 482 655 Distributions declared to redeemable noncontrolling interests (992 ) (1,006 ) Other, net, including adjustments to redemption value 7,216 414 Total limited partners' interests in Operating Partnership and other redeemable noncontrolling interests balance at March 31 $ 99,021 $ 91,147 Limited partners' interests in Operating Partnership $ 54,921 $ 46,564 Other redeemable noncontrolling interests in certain subsidiaries 44,100 44,583 Total limited partners' interests in Operating Partnership and other redeemable noncontrolling interests balance at March 31 $ 99,021 $ 91,147

Mortgage and Other Indebtedne21

Mortgage and Other Indebtedness (Tables)	3 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
Schedule of Participating Mortgage Loans	Mortgage and other indebtedness consisted of the following at March 31, 2016 and December 31, 2015 : As of March 31, 2016 Principal Unamortized Net Premiums Unamortized Deferred Financing Costs 1 Total Senior unsecured notes $ 250,000 $ — $ (2,764 ) $ 247,236 Unsecured revolving credit facility 68,100 — (1,557 ) 66,543 Unsecured term loan 500,000 — (2,797 ) 497,203 Notes payable secured by properties under construction - variable rate 132,776 — (90 ) 132,686 Mortgage notes payable - fixed rate 715,368 15,506 (1,385 ) 729,489 Mortgage notes payable - variable rate 58,085 — (455 ) 57,630 Total mortgage and other indebtedness $ 1,724,329 $ 15,506 $ (9,048 ) $ 1,730,787 As of December 31, 2015 Principal Unamortized Net Premiums Unamortized Deferred Financing Costs 1 Total Senior unsecured notes $ 250,000 $ — $ (2,755 ) $ 247,245 Unsecured revolving credit facility 20,000 — (1,727 ) 18,273 Unsecured term loan 500,000 — (2,985 ) 497,015 Notes payable secured by properties under construction - variable rate 132,776 — (133 ) 132,643 Mortgage notes payable - fixed rate 756,494 16,521 (1,555 ) 771,460 Mortgage notes payable - variable rate 58,268 — (455 ) 57,813 Total mortgage and other indebtedness $ 1,717,538 $ 16,521 $ (9,610 ) $ 1,724,449 ____________________ 1 Effective March 31, 2016, we adopted ASC 2015-03, Simplifying the Presentation of Debt Issuance Costs, which changes the presentation of deferred financing costs on the consolidated balance sheets. This guidance was adopted retrospectively and all prior periods have been adjusted to reflect this change in accounting principle.
Schedule of Debt	Consolidated indebtedness, including weighted average maturities and weighted average interest rates as of March 31, 2016 , considering the impact of interest rate swaps, is summarized below: Outstanding Amount Ratio Weighted Average Weighted Average Fixed rate debt 1 $ 1,460,714 84 % 4.12 % 5.3 Variable rate debt 263,615 16 % 1.97 % 3.7 Net debt premiums and issuance costs, net 6,458 N/A N/A N/A Total $1,730,787 100 % 3.80 % 5.1 ____________________ 1 Calculations on fixed rate debt include the portion of variable rate debt that has been hedged; therefore, calculations on variable rate debt exclude the portion of variable rate debt that has been hedged. $495.3 million in variable rate debt is hedged for a weighted average 1.8 years.

Deferred Costs (Tables)

Deferred Costs (Tables)	3 Months Ended
	Mar. 31, 2016
Deferred Costs [Abstract]
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure	At March 31, 2016 and December 31, 2015 , deferred costs consisted of the following: March 31, December 31, Acquired lease intangible assets $ 134,501 $ 138,796 Deferred leasing costs and other 57,293 55,332 191,794 194,128 Less—accumulated amortization (48,766 ) (45,854 ) Total $ 143,028 $ 148,274
Deferred Cost Amortization	The accompanying consolidated statements of operations include amortization expense as follows: Three Months Ended 2016 2015 Amortization of deferred leasing costs, lease intangibles and other $ 6,269 $ 5,889 Amortization of above market lease intangibles 1,236 1,632

Deferred Revenue and Other Li23

Deferred Revenue and Other Liabilities (Tables)	3 Months Ended
	Mar. 31, 2016
Deferred Revenue Disclosure [Abstract]
Deferred Revenue, by Arrangement, Disclosure	At March 31, 2016 and December 31, 2015 , deferred revenue and other liabilities consisted of the following: March 31, December 31, Unamortized in-place lease liabilities $ 109,753 $ 112,405 Retainage payables and other 5,980 5,636 Assumed earnout liability (Note 9) 1,380 1,380 Tenant rent payments received in advance 10,371 12,138 Total $ 127,484 $ 131,559

Acquisitions (Tables)

Acquisitions (Tables)	3 Months Ended
	Mar. 31, 2016
Business Combinations [Abstract]
Schedule of Real Estate Properties	In 2015, we acquired four operating properties for total consideration of $185.8 million , including the assumption of an $18.3 million loan, which are summarized below: Property Name MSA Acquisition Date Owned GLA Colleyville Downs Dallas, TX April 2015 185,848 Belle Isle Station Oklahoma City, OK May 2015 164,327 Livingston Shopping Center New York - Newark July 2015 139,657 Chapel Hill Shopping Center Fort Worth / Dallas, TX August 2015 126,755

Organization (Details)

Organization (Details)	3 Months Ended
	Mar. 31, 2016property
Organization [Line Items]
Limited Liability Company (LLC) or Limited Partnership (LP), Managing Member or General Partner, Ownership Interest	97.70%
Number of real estate properties	118
Retail Operating Properties
Organization [Line Items]
Number of real estate properties	108
Redevelopment Properties
Organization [Line Items]
Number of real estate properties	8
Office Properties
Organization [Line Items]
Number of real estate properties	1
In-Process Retail Development Properties
Organization [Line Items]
Number of real estate properties	3
KRG, LP
Organization [Line Items]
Limited Liability Company (LLC) or Limited Partnership (LP), Members or Limited Partners, Ownership Interest	2.30%

Basis of Presentation, Consol26

Basis of Presentation, Consolidation, Investments in Joint Ventures, and Noncontrolling Interests - Additional Information (Details) $ in Thousands	Feb. 13, 2015USD ($)	Mar. 31, 2016USD ($)joint_ventureshares	Mar. 31, 2015shares	Dec. 31, 2015USD ($)shares
Noncontrolling Interest [Line Items]
Variable Interest Entity, Number of Entities | joint_venture		3
Variable Interest Entity, Consolidated, Carrying Amount, Liabilities (in Dollars)		$ 238,800
Variable Interest Entity, Consolidated, Carrying Amount, Assets (in Dollars)		$ 497,800
Exchange of redeemable noncontrolling interests for common shares (in Shares) | shares		2,000	3,000
Limited Partners' Capital Account, Units Outstanding | shares		1,945,840		1,901,278
Special Assessment Bond Termination	$ 26,600
Debt Issuance Costs, Net		$ 9,048		$ 9,610
Revolving Credit Facility | City Center Operating Property
Noncontrolling Interest [Line Items]
Proceeds from Lines of Credit	$ 30,000
Operating Partnership
Noncontrolling Interest [Line Items]
Noncontrolling interest, ownership percentage by parent		97.70%		98.10%
Noncontrolling interest, ownership percentage by noncontrolling owners		2.30%		1.90%
Accounting Standards Update 2015-02
Noncontrolling Interest [Line Items]
Variable Interest Entity, Number of Entities | joint_venture		2

Basis of Presentation, Consol27

Basis of Presentation, Consolidation, Investments in Joint Ventures, and Noncontrolling Interests - Noncontrolling Interests (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Beginning Balance	$ 773	$ 3,364
Net income allocable to noncontrolling interests, excluding redeemable noncontrolling interests	573	683
Distributions to noncontrolling interests	(164)	(29)
Ending Balance	698	3,363
Excluding Redeemable Non-Controlling Interests
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Net income allocable to noncontrolling interests, excluding redeemable noncontrolling interests	$ 89	$ 28

Basis of Presentation, Consol28

Basis of Presentation, Consolidation, Investments in Joint Ventures, and Noncontrolling Interests - Weighted Average Interests in Operating Partnership (Details) - Operating Partnership	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Parent Company’s weighted average basic interest in Operating Partnership	97.70%	98.10%
Limited partners' weighted average basic interests in Operating Partnership	2.30%	1.90%

Basis of Presentation, Consol29

Basis of Presentation, Consolidation, Investments in Joint Ventures, and Noncontrolling Interests - Redeemable Noncontrolling Interests (Details) $ in Thousands	Feb. 13, 2015USD ($)	Mar. 31, 2016USD ($)joint_venture	Mar. 31, 2015USD ($)	Mar. 31, 2016USD ($)	Mar. 31, 2015USD ($)
Redeemable Noncontrolling Interest, Equity, Carrying Amount [Roll Forward]
Net income allocable to redeemable noncontrolling interests		$ 573	$ 683
Distributions to noncontrolling interests		(164)	(29)
Redeemable Noncontrolling Interests
Redeemable Noncontrolling Interest, Equity, Carrying Amount [Roll Forward]
Beginning Balance		92,315	125,082
Acquisition of partner's interest in City Center		0	(33,998)
Net income allocable to redeemable noncontrolling interests		482	655
Distributions to noncontrolling interests		(992)	(1,006)
Other, net, including adjustments to redemption value		7,216	414
Ending Balance		99,021	91,147
Total limited partners' interests in Operating Partnership and other redeemable noncontrolling interests balance at March 31		92,315	125,082	$ 99,021	$ 91,147
Redeemable Noncontrolling Interests | Partnership Interest
Redeemable Noncontrolling Interest, Equity, Carrying Amount [Roll Forward]
Ending Balance		99,021	91,147
Limited partners' interests in Operating Partnership				54,921	46,564
Other redeemable noncontrolling interests in certain subsidiaries				44,100	44,583
Total limited partners' interests in Operating Partnership and other redeemable noncontrolling interests balance at March 31		$ 99,021	$ 91,147	$ 99,021	$ 91,147
Capital Unit, Class B
Redeemable Noncontrolling Interest [Line Items]
Number of Joint Ventures in which Units are Issued | joint_venture		3
Number of Joint Ventures in which Units are Issued, Noncontrolling Interest | joint_venture		2
City Center Operating Property
Redeemable Noncontrolling Interest, Equity, Carrying Amount [Roll Forward]
Acquisition of partner's interest in City Center	$ (400)
City Center Operating Property | Noncontrolling Interest
Redeemable Noncontrolling Interest, Equity, Carrying Amount [Roll Forward]
Acquisition of partner's interest in City Center	(34,000)
Revolving Credit Facility | City Center Operating Property
Redeemable Noncontrolling Interest [Line Items]
Proceeds from Lines of Credit	$ 30,000

Earnings Per Share or Unit (Det

Earnings Per Share or Unit (Details) - shares shares in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Earnings Per Share [Abstract]
Weighted average limited partnership units outstanding, basic	1.9	1.6
Antidilutive securities excluded from computation of earnings per share, amount	0.1	0.1

Mortgage and Other Indebtedne31

Mortgage and Other Indebtedness - Consolidated Indebtedness by Type of Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Participating Mortgage Loans [Line Items]
Long-term Debt, Principal Balance	$ 1,724,329	$ 1,717,538
Debt Instrument, Unamortized Premium	15,506	16,521
Debt Issuance Costs, Net	(9,048)	(9,610)
Mortgage and other indebtedness, net	1,730,787	1,724,449
Senior Unsecured Notes
Participating Mortgage Loans [Line Items]
Long-term Debt, Principal Balance	250,000	250,000
Debt Instrument, Unamortized Premium	0	0
Debt Issuance Costs, Net	(2,764)	(2,755)
Mortgage and other indebtedness, net	247,236	247,245
Unsecured Debt
Participating Mortgage Loans [Line Items]
Long-term Debt, Principal Balance	500,000	500,000
Debt Instrument, Unamortized Premium	0	0
Debt Issuance Costs, Net	(2,797)	(2,985)
Mortgage and other indebtedness, net	497,203	497,015
Construction Loans | Variable Rate Debt
Participating Mortgage Loans [Line Items]
Long-term Debt, Principal Balance	132,776	132,776
Debt Instrument, Unamortized Premium	0	0
Debt Issuance Costs, Net	(90)	(133)
Mortgage and other indebtedness, net	132,686	132,643
Mortgages | Variable Rate Debt
Participating Mortgage Loans [Line Items]
Long-term Debt, Principal Balance	58,085	58,268
Debt Instrument, Unamortized Premium	0	0
Debt Issuance Costs, Net	(455)	(455)
Mortgage and other indebtedness, net	57,630	57,813
Mortgages | Fixed Rate Debt
Participating Mortgage Loans [Line Items]
Long-term Debt, Principal Balance	715,368	756,494
Debt Instrument, Unamortized Premium	15,506	16,521
Debt Issuance Costs, Net	(1,385)	(1,555)
Mortgage and other indebtedness, net	729,489	771,460
Revolving Credit Facility
Participating Mortgage Loans [Line Items]
Long-term Debt, Principal Balance	68,100	20,000
Debt Instrument, Unamortized Premium	0	0
Debt Issuance Costs, Line of Credit Arrangements, Net	(1,557)	(1,727)
Mortgage and other indebtedness, net	$ 66,543	$ 18,273

Mortgage and Other Indebtedne32

Mortgage and Other Indebtedness - Consolidated Indebtedness by Type of Interest Rate (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Amount	$ 1,730,787	$ 1,724,449
Percentage of Total	100.00%
Weighted Average Interest Rate	3.80%
Weighted Average Maturity (Years)	5 years 1 month 6 days
Fixed Rate Debt Considering Hedges
Debt Instrument [Line Items]
Amount	$ 1,460,714
Percentage of Total	84.00%
Weighted Average Interest Rate	4.12%
Weighted Average Maturity (Years)	5 years 3 months 18 days
Variable Rate Debt Considering Hedges
Debt Instrument [Line Items]
Amount	$ 263,615
Percentage of Total	16.00%
Weighted Average Interest Rate	1.97%
Weighted Average Maturity (Years)	3 years 8 months 12 days
Net Premiums On Acquired Debt
Debt Instrument [Line Items]
Amount	$ 6,458
Variable Rate Debt | Floating Rate Debt Hedged
Debt Instrument [Line Items]
Amount	$ 495,300
Weighted Average Maturity (Years)	1 year 9 months 18 days

Mortgage and Other Indebtedne33

Mortgage and Other Indebtedness - Additional Information (Details) - USD ($)	Mar. 31, 2016	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Debt Instrument [Line Items]
Percentage of Total	100.00%	100.00%
Weighted Average Interest Rate	3.80%	3.80%
Weighted Average Maturity (Years)		5 years 1 month 6 days
Long-term debt	$ 1,730,787,000	$ 1,730,787,000		$ 1,724,449,000
Letters of credit outstanding, amount	15,800,000	15,800,000
Letters of credit outstanding, amount advanced	0	0
Loan proceeds		48,100,000	$ 83,577,000
Repayments of long-term debt		41,308,000	$ 90,927,000
Percentage bearing fixed interest, amount	1,000,000,000	1,000,000,000
Percentage bearing variable interest, amount	759,000,000	759,000,000
Scheduled Principal Payments
Debt Instrument [Line Items]
Repayments of long-term debt		1,400,000
Fixed Rate Debt
Debt Instrument [Line Items]
Long-term debt, fair value	1,100,000,000	1,100,000,000
Variable Rate Debt
Debt Instrument [Line Items]
Long-term debt, fair value	781,900,000	781,900,000
Cool Creek Commons
Debt Instrument [Line Items]
Repayments of long-term debt		16,300,000
Sunland Towne Centre
Debt Instrument [Line Items]
Repayments of long-term debt		23,600,000
Term Loan
Debt Instrument [Line Items]
Long-term debt	400,000,000	400,000,000
Term Loan | 7-year unsecured term loan
Debt Instrument [Line Items]
Long-term debt	$ 100,000,000	100,000,000
Debt Instrument, Term	7 years
Term Loan, Unused Borrowing Capacity, Amount	$ 200,000,000	200,000,000
Term Loan | Total Term Loans
Debt Instrument [Line Items]
Long-term debt	500,000,000	500,000,000
Revolving Credit Facility
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	500,000,000	500,000,000
Long-term debt	66,543,000	66,543,000		$ 18,273,000
Remaining borrowing capacity	377,600,000	377,600,000
Long-term line of credit	$ 68,100,000	$ 68,100,000
London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Percentage bearing variable interest, percentage rate	0.44%	0.44%
Minimum | Fixed Rate Debt
Debt Instrument [Line Items]
Percentage bearing fixed interest, percentage rate	3.78%	3.78%
Minimum | Variable Rate Debt
Debt Instrument [Line Items]
Percentage bearing variable interest, percentage rate	1.79%	1.79%
Minimum | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate		135.00%
Maximum | Fixed Rate Debt
Debt Instrument [Line Items]
Percentage bearing fixed interest, percentage rate	6.78%	6.78%
Maximum | Variable Rate Debt
Debt Instrument [Line Items]
Percentage bearing variable interest, percentage rate	2.69%	2.69%
Maximum | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate		225.00%

Derivative Instruments, Hedgi34

Derivative Instruments, Hedging Activities and Other Comprehensive Income (Details)	3 Months Ended
	Mar. 31, 2016USD ($)	Mar. 31, 2015USD ($)	Jan. 31, 2016USD ($)swap	Dec. 31, 2015USD ($)
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, average cap interest rate	2.78%
Hedge liability at fair value	$ 11,800,000
Hedge derivative at fair value, net				$ 4,800,000
Gain (loss) reclassified from accumulated OCI into income, effective portion, net	1,000,000	$ 1,400,000
Interest expense	15,325,000	$ 13,933,000
Prepaid Expenses and Other Current Assets
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Hedge asset at fair value				200,000
Accounts Payable and Accrued Liabilities
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Hedge liability at fair value	11,800,000			5,000,000
Accrued Interest
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Hedge derivative at fair value, net	300,000			$ 400,000
Interest Rate Swap
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, notional amount			$ 150,000,000
Number of Interest Rate Derivatives Held | swap			2
Derivative, Variable Interest Rate			3.208%
Increase As Hedged Forecasted Interest Payments Occur
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Interest expense	4,100,000
Cash Flow Hedging
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, notional amount	$ 648,300,000

Shareholders' Equity (Details)

Shareholders' Equity (Details) - USD ($)	Feb. 29, 2016	Jan. 31, 2016	Mar. 31, 2016
Class of Stock [Line Items]
Common dividends, cash paid (per share)			$ 0.2875
Dividend Distribution Increase Percentage			5.50%
Maximum
Class of Stock [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Percent of Compensation in Performance Shares	200.00%
Minimum
Class of Stock [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Percent of Compensation in Performance Shares	0.00%
Restricted Stock
Class of Stock [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	103,685
Restricted Stock | Maximum
Class of Stock [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	5 years
Restricted Stock | Minimum
Class of Stock [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	3 years
Restricted Stock Units (RSUs)
Class of Stock [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Requisite Service Period	3 years
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	3 years
Share-based Compensation Arrangement by Share-based Payment Award, Award Measurement Period	3 years
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period	3 years
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Nonvested			$ 1,000,000
Outperformance Plan 2016
Class of Stock [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Requisite Service Period		3 years
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period		2 years
Outperformance Plan 2016 | Maximum
Class of Stock [Line Items]
Deferred Compensation Share-based Arrangements, Liability, Current and Noncurrent		$ 6,000,000

Deferred Costs - Deferred Cost

Deferred Costs - Deferred Costs (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Deferred Costs [Abstract]
Acquired lease intangible assets	$ 134,501	$ 138,796
Deferred leasing costs and other	57,293	55,332
Deferred Costs Gross	191,794	194,128
Less—accumulated amortization	(48,766)	(45,854)
Total	$ 143,028	$ 148,274

Deferred Costs - Amortization

Deferred Costs - Amortization Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Deferred Costs [Abstract]
Amortization of deferred leasing costs, lease intangibles and other	$ 6,269	$ 5,889
Amortization of Above Market Lease Intangibles	$ 1,236	$ 1,632

Deferred Revenue and Other Li38

Deferred Revenue and Other Liabilities (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Deferred Revenue Arrangement [Line Items]
Deferred revenue	$ 127,484		$ 131,559
Amortization of below market lease intangibles	2,400	$ 2,400
Unamortized in-place lease liabilities
Deferred Revenue Arrangement [Line Items]
Deferred revenue	109,753		112,405
Retainage payables and other
Deferred Revenue Arrangement [Line Items]
Deferred revenue	5,980		5,636
Potential earnout payments due
Deferred Revenue Arrangement [Line Items]
Deferred revenue	1,380		1,380
Tenant rent payments received in advance
Deferred Revenue Arrangement [Line Items]
Deferred revenue	$ 10,371		$ 12,138

Commitments and Contingencies

Commitments and Contingencies - Additional Information (Details)	Mar. 31, 2016USD ($)property	Dec. 31, 2015USD ($)
Commitments and Contingencies [Line Items]
Letters of credit outstanding, amount	$ 15,800,000
Amount advanced	$ 0
Number of real estate properties | property	118
Earnout | Inland Diversified Real Estate Trust
Commitments and Contingencies [Line Items]
Number of real estate properties | property	1
Contingent consideration, liability	$ 1,400,000	$ 1,400,000

Disposal of Operating Propert40

Disposal of Operating Properties - Additional Information (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)property	Dec. 31, 2015USD ($)	Mar. 31, 2015USD ($)property
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net proceeds from sales of operating properties	$ 0		$ 126,460
Number of real estate properties | property	118
Seven Property Disposal
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of real estate properties | property			7
Disposal group, including discontinued operation, assets			$ 103,000
Gain (loss) on sale of properties			$ 3,400
Four Corner and Cornelius Gateway
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net proceeds from sales of operating properties		$ 44,900
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal		$ 600

Acquisitions - Additional Info

Acquisitions - Additional Information (Details) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2016USD ($)	Mar. 31, 2015USD ($)	Dec. 31, 2015USD ($)property
Business Acquisition [Line Items]
Number of operating properties acquired | property			4
Assumption of mortgages by buyer upon sale of properties	$ 0	$ 40,303
Colleyville Downs, Belle Isle Station, Livingston Shopping Center and Chapel Hill Shopping Center
Business Acquisition [Line Items]
Payments to Acquire Real Estate			$ 185,800
Chapel Hill Operating Property
Business Acquisition [Line Items]
Assumption of mortgages by buyer upon sale of properties			$ 18,300

Acquisitions - Property Acquis

Acquisitions - Property Acquisitions (Details)	Mar. 31, 2016ft²
Colleyville Downs
Real Estate Properties [Line Items]
Net Rentable Area	185,848
Belle Isle Station
Real Estate Properties [Line Items]
Net Rentable Area	164,327
Livingston Shopping Center
Real Estate Properties [Line Items]
Net Rentable Area	139,657
Chapel Hill Operating Property
Real Estate Properties [Line Items]
Net Rentable Area	126,755