InvenTrust Properties (IVT) 10-Q 14 Nov 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2016	Nov. 07, 2016
Document and Entity Information [Abstract]
Entity Registrant Name	InvenTrust Properties Corp.
Entity Central Index Key	1,307,748
Document Type	10-Q
Document Period End Date	Sep. 30, 2016
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		862,220,473
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Investment properties:
Land	$ 567,913	$ 520,084
Building and other improvements	1,607,534	1,733,696
Construction in progress	2,052	3,714
Total	2,177,499	2,257,494
Less accumulated depreciation	(338,496)	(391,663)
Net investment properties	1,839,003	1,865,831
Cash and cash equivalents	578,730	203,285
Restricted cash and escrows	20,560	16,499
Investment in marketable securities	181,879	177,431
Investment in unconsolidated entities	179,418	178,316
Intangible assets, net	71,129	55,898
Accounts and rents receivable (net of allowance of $1,613 and $2,187)	27,846	30,272
Deferred costs and other assets	30,340	27,513
Assets of discontinued operations	444	1,649,878
Total assets	2,929,349	4,204,923
Liabilities
Debt, net	653,415	1,094,651
Accounts payable and accrued expenses	41,038	47,203
Distributions payable	14,550	28,013
Intangible liabilities, net	43,622	38,019
Other liabilities	15,083	13,519
Liabilities of discontinued operations	367	834,815
Total liabilities	768,075	2,056,220
Commitments and contingencies
Stockholders’ Equity
Preferred stock, $.001 par value, 40,000,000 shares authorized, none outstanding	0	0
Common stock, $.001 par value, 1,460,000,000 shares authorized, 862,215,694 shares issued and outstanding at September 30, 2016 and 862,205,672 shares issued and outstanding at December 31, 2015, respectively	862	862
Additional paid in capital	5,917,030	6,066,583
Accumulated distributions in excess of net loss	(3,800,197)	(3,956,032)
Accumulated other comprehensive income	43,579	37,290
Total stockholders’ equity	2,161,274	2,148,703
Total liabilities and stockholder's equity	$ 2,929,349	$ 4,204,923

Consolidated Balance Sheets (U3

Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Accounts and rents receivable, allowance	$ 1,613	$ 2,187
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized	40,000,000	40,000,000
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	1,460,000,000	1,460,000,000
Common stock, shares issued	862,215,694	862,205,672
Common stock, shares outstanding	862,215,694	862,205,672

Consolidated Statements of Oper

Consolidated Statements of Operations and Other Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Income
Rental income	$ 46,127	$ 49,975	$ 142,585	$ 149,806
Tenant recovery income	13,794	14,875	39,744	43,617
Other property income	737	1,352	2,612	3,290
Total income	60,658	66,202	184,941	196,713
Expenses
General and administrative expenses	12,397	15,400	41,247	52,475
Property operating expenses	8,279	9,070	23,607	27,573
Real estate taxes	8,904	9,449	27,765	28,246
Depreciation and amortization	21,230	22,056	64,109	66,462
Provision for asset impairment	2,818	92,167	41,139	92,167
Total expenses	53,628	148,142	197,867	266,923
Operating income (loss)	7,030	(81,940)	(12,926)	(70,210)
Interest and dividend income	3,128	2,666	8,538	9,163
Gain on sale of investment properties	29,586	729	105,998	7,957
(Loss) gain on extinguishment of debt	(4,645)	13	(10,317)	1,395
Other income	1,872	1,415	4,583	6,097
Interest expense	(10,984)	(14,681)	(39,584)	(41,682)
Loss on contribution to joint venture	0	(12,919)	0	(12,919)
Equity in earnings of unconsolidated entities	3,849	5,310	7,739	33,262
(Impairment) and realized gain on sale of marketable securities, net	(1,326)	304	(698)	20,459
Income (loss) before income taxes	28,510	(99,103)	63,333	(46,478)
Income tax expense	(286)	(1,556)	(480)	(2,402)
Net income (loss) from continuing operations	28,224	(100,659)	62,853	(48,880)
Net income from discontinued operations	9,095	5,012	163,574	21,123
Net income (loss)	$ 37,319	$ (95,647)	$ 226,427	$ (27,757)
Net income (loss) per common share, from continuing operations, basic and diluted (in dollars per share)	$ 0.03	$ (0.12)	$ 0.07	$ (0.06)
Net income per common share, from discontinued operations, basic and diluted (in dollars per share)	0.01	0.01	0.19	0.02
Net income (loss) per common share, basic and diluted (in dollars per share)	$ 0.04	$ (0.11)	$ 0.26	$ (0.04)
Weighted average number of common shares outstanding, basic and diluted (shares)	862,212,317	861,824,777	862,207,903	861,824,777
Distributions declared per common share outstanding (in dollars per share)	$ 0.02	$ 0.03	$ 0.08	$ 0.13
Distributions paid per common share outstanding (in dollars per share)	$ 0.03	$ 0.01	$ 0.10	$ 0.14
Comprehensive income (loss)
Unrealized gain (loss) on investment securities	$ (10,447)	$ (26,113)	$ 6,039	$ 7,242
Unrealized gain (loss) on derivatives	785	(671)	(1,831)	(76)
Reclassification adjustment for amounts recognized in net income (loss)	1,656	(570)	2,081	(21,252)
Comprehensive income (loss)	$ 29,313	$ (123,001)	$ 232,716	$ (41,843)

Consolidated Statements of Chan

Consolidated Statements of Changes in Equity (Unaudited) - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Distributions in excess of Net Loss	Accumulated Other Comprehensive Income (Loss)	Noncontrolling Interests
Balance, value at Dec. 31, 2014	$ 3,996,829	$ 861	$ 7,755,471	$ (3,820,882)	$ 57,599	$ 3,780
Balance, shares at Dec. 31, 2014		861,824,777
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	(27,741)			(27,757)		16
Unrealized gain on investment securities	7,242				7,242
Unrealized loss on derivatives	(76)				(76)
Reclassification adjustment for amounts recognized in net income	(21,252)				(21,252)
Distributions declared	(110,601)			(110,601)
Contributions from noncontrolling interests, net						152
Restricted share units	1,202		1,202
Equity effect of spin-off	(1,694,234)		(1,690,411)
Balance, value at Sep. 30, 2015	2,151,521	$ 861	6,066,262	(3,959,240)	43,513	125
Balance, shares at Sep. 30, 2015		861,824,777
Balance, value at Dec. 31, 2015	2,148,703	$ 862	6,066,583	(3,956,032)	37,290
Balance, shares at Dec. 31, 2015		862,205,672
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	226,427			226,427
Unrealized gain on investment securities	6,039				6,039
Unrealized loss on derivatives	(1,831)				(1,831)
Reclassification adjustment for amounts recognized in net income	2,081				2,081
Distributions declared	$ (70,592)			(70,592)
Share-based compensation (shares)	10,022
Share based compensation	$ 1,552		1,552
Equity effect of spin-off	(151,105)		(151,105)			$ (3,823)
Balance, value at Sep. 30, 2016	$ 2,161,274	$ 862	$ 5,917,030	$ (3,800,197)	$ 43,579
Balance, shares at Sep. 30, 2016		862,215,694

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Cash flows from operating activities:
Net income (loss)	$ 226,427	$ (27,757)
Adjustments to reconcile net income (loss) to net cash provided by operating activities
Depreciation and amortization	94,184	122,914
Amortization of above and below market leases, net	(2,791)	(1,241)
Amortization of debt premiums, discounts and financing costs	4,725	5,829
Straight-line rental income	414	901
Provision for asset impairment	117,722	92,167
Gain on sale of investment properties, net	(341,778)	(7,957)
Loss (gain) on extinguishment of debt	13,143	(1,395)
Loss on contribution to unconsolidated joint venture	0	12,919
Equity in earnings of unconsolidated entities	(7,721)	(33,294)
Distributions from unconsolidated entities	3,951	3,883
Gain on sale of investment in unconsolidated entities	(1,434)	0
Impairment and realized (gain) on sale of marketable securities, net	698	(20,459)
Non-cash share based compensation	2,558	1,311
Prepayment penalties and defeasance	(11,140)	0
Changes in assets and liabilities:
Accounts and rents receivable	2,422	(4,559)
Deferred costs and other assets	7,888	15,533
Accounts payable and accrued expenses	(9,410)	(8,335)
Other (liabilities) assets	(3,172)	(6,704)
Net cash flows provided by operating activities	96,686	143,756
Cash flows from investing activities:
Purchase of investment properties	(360,770)	(98,122)
Acquired in-place and market lease intangibles, net	(21,144)	(4,645)
Capital expenditures and tenant improvements	(4,200)	(21,768)
Investment in development projects	(53,077)	(85,744)
Proceeds from sale of investment properties, net	1,533,492	53,989
Proceeds from sale of marketable securities	1,591	58,369
Proceeds from the sale of and return of capital from unconsolidated entities	5,480	31,134
Contributions to unconsolidated entities	(5,850)	(25,030)
Distributions from unconsolidated entities	8,721	7,964
Payment of leasing fees	(2,306)	(3,838)
Restricted escrows and other assets	900	19,246
Other (assets) liabilities	(8,911)	2,350
Net cash flows provided by (used in) investing activities	1,093,926	(66,095)
Cash flows from financing activities:
Distributions paid	(84,056)	(118,501)
Proceeds from debt	299,735	172,507
Payoffs of debt	(999,094)	(293,404)
Principal payments of mortgage debt	(10,526)	(20,384)
Payment of loan fees and deposits	(31)	(1,970)
Contributions from noncontrolling interests, net	0	152
Property level cash contributed to Xenia Hotels & Resorts, Inc.	0	(130,080)
Net cash flows used in financing activities	(815,167)	(557,564)
Net increase (decrease) in cash and cash equivalents	375,445	(479,903)
Cash and cash equivalents, at beginning of period	203,285	733,150
Cash and cash equivalents, at end of period	578,730	253,247
Highlands REIT Inc. [Member]
Cash flows from financing activities:
Contribution to Spin-off	(21,195)	0
Xenia Hotels and Resorts, Inc. [Member]
Cash flows from financing activities:
Contribution to Spin-off	$ 0	$ (165,884)

Consolidated Statements of Cas7

Consolidated Statements of Cash Flows (Unaudited) (Parenthetical) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Cash paid for interest, net capitalized interest of $1,147 and $6,569	$ 49,574	$ 72,332
Capitalized interest	1,147	6,569
Mortgage assumed by buyer upon disposal of property	131,189	0
Assumption of mortgage debt upon acquisition of investment property	16,000	0
Net assets transferred at sale of real estate investments	2,007	0
Land contributed to an unconsolidated entity	0	46,174
Highlands REIT Inc. [Member]
Net equity distributed in spin-off, net of cash contributed	129,910	0
Xenia Hotels and Resorts, Inc. [Member]
Net equity distributed in spin-off, net of cash contributed	$ 0	$ 1,484,872

Organization

Organization	9 Months Ended
	Sep. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Organization The Company was incorporated as Inland American Real Estate Trust, Inc. in October 2004 as a Maryland corporation and has elected to be taxed, and currently qualifies, as a real estate investment trust ("REIT") for federal tax purposes. The Company changed its name to InvenTrust Properties Corp. in April 2015. The Company was formed to own, manage, acquire and develop a diversified portfolio of commercial real estate located throughout the United States and to own properties in development and partially own properties through joint ventures, as well as investments in marketable securities and other assets. As of September 30, 2016 , the Company's portfolio comprises 74 properties, representing 12.2 million square feet of retail space and 0.3 million square feet of non-core space. As used in these Notes and throughout this Quarterly Report on Form 10-Q, the terms "Company," "InvenTrust," "we," "us," or "our" mean InvenTrust Properties Corp. and its wholly owned subsidiaries and consolidated joint venture investments. Sale of Student Housing Platform On June 21, 2016, the Company completed the sale of its student housing platform, University House, to UHC Acquisition Sub LLC (the "Acquiror"), a subsidiary of a joint venture formed between Canada Pension Plan Investment Board, GIC and Scion Communities Investors LLC, pursuant to the terms of the Stock Purchase Agreement (the "Agreement"), dated as of January 3, 2016, by and among the Company, University House Communities Group, Inc. and the Acquiror, as amended by that certain Amendment No. 1 to the Agreement, dated as of May 30, 2016, and as further amended by that certain Amendment No. 2 to the Agreement, dated as of June 20, 2016. The Agreement's gross sales price was $1,410,000 . Under the terms of the Agreement, the final net proceeds were determined at the closing of the transaction following the determination of several events and closing considerations. Following certain adjustments and the repayment of related debt, in each case pursuant to the terms of the Agreement, the Company received at the closing net cash consideration, after transaction costs, of approximately $845,000 , $9,900 of which was deposited into escrow and relates to post closing obligations, $8,000 of which is being held pending resolution in connection with the completion of a development property as of September 30, 2016. Spin-Off of Highlands REIT, Inc. On April 28, 2016, the Company completed the spin-off of its subsidiary, Highlands REIT, Inc. ("Highlands"), which the Company formed to hold substantially all of its remaining non-core assets, through the Company's pro rata taxable distribution of 100% of the outstanding common stock of Highlands to holders of record of the Company's common stock as of the close of business on the record date, which was April 25, 2016 (referred to herein as the "Highlands spin-off"). Each holder of record of the Company's common stock received one share of Highlands' common stock for every one share of the Company's common stock held at the close of business on the record date. Highlands did not list its common stock on any securities exchange or other market in connection with the spin-off. In connection with the Highlands spin-off, the Company entered into a Separation and Distribution Agreement with Highlands to effect the separation and to provide for the allocation of assets and liabilities. Highlands' real property assets consisted of seven single- and multi-tenant office assets, two industrial assets, six retail assets, two correctional facilities, four parcels of unimproved land and one bank branch. Highlands assumed all liabilities relating to or arising out of these assets (excluding any liabilities relating to the properties previously owned and disposed of by subsidiaries of Highlands prior to the spin-off). The Company also entered into certain agreements with Highlands that, among other things, provide a framework for the relationship between the Company and Highlands as two separate companies, namely a Transition Services Agreement and an Employee Matters Agreement. Spin-Off of Xenia Hotels & Resorts, Inc. On February 3, 2015, the Company completed the spin-off of its lodging subsidiary, Xenia Hotels & Resorts, Inc. ("Xenia"), through a taxable pro rata taxable distribution by the Company of 95% of the outstanding common stock of Xenia to holders of record of the Company's common stock as of the close of business on the record date, which was January 20, 2015 (referred to herein as the "Xenia spin-off"). Each holder of record of the Company's common stock received one share of Xenia's common stock for every eight shares of the Company's common stock held at the close of business on the record date. In lieu of fractional shares, stockholders of the Company received cash. On February 4, 2015, Xenia's common stock began trading on the New York Stock Exchange ("NYSE") under the ticker symbol "XHR". Segment Reporting Following the Xenia spin-off, the Company no longer has a lodging segment. Therefore, the 46 lodging assets included in the Xenia spin-off, which are disclosed in "Note 4. Disposed Properties ", have been classified as discontinued operations as the Xenia spin-off represented a strategic shift that has had a major effect on the Company's operations and financial results. The assets and liabilities of these 46 lodging assets are classified as assets and liabilities of discontinued operations on the consolidated balance sheet at September 30, 2016 and December 31, 2015 . The operations of these 46 lodging assets have been classified as income from discontinued operations on the consolidated statements of operations and comprehensive income (loss) for the three and nine months ended September 30, 2016 and 2015 . Following the Highlands spin-off, the Company no longer has a reportable non-core segment. Therefore, the 18 assets and four parcels of unimproved land included in the Highlands spin-off and one non-core asset sold in the second quarter of 2016, all of which are disclosed in "Note 4. Disposed Properties ", have been classified as discontinued operations as the Highlands spin-off represented a strategic shift that has had a major effect on the Company's operations and financial results. The assets and liabilities of the 18 assets and four parcels of unimproved land and one non-core asset sold in the second quarter of 2016, are classified as assets and liabilities of discontinued operations on the consolidated balance sheets at September 30, 2016 and December 31, 2015 . The operations of the 18 assets and four parcels of unimproved land and one non-core asset sold in the second quarter of 2016, have been classified as income from discontinued operations on the consolidated statements of operations and comprehensive income (loss) for the three and nine months ended September 30, 2016 and 2015 . Following the sale of the student housing platform, the Company no longer has a reportable student housing segment. Therefore, the 17 assets included in the student housing platform sale and one student housing asset sold in the third quarter of 2016, all of which are disclosed in "Note 4. Disposed Properties ", have been classified as discontinued operations as the sale represented a strategic shift that has had a major effect on the Company's operations and financial results. The assets and liabilities of these 17 assets and one student housing asset are classified as assets and liabilities of discontinued operations on the consolidated balance sheets at September 30, 2016 and December 31, 2015 . The operations of the 17 assets included in the student housing platform sale and one student housing asset sold in the third quarter of 2016 have been classified as income from discontinued operations on the consolidated statements of operations and comprehensive income (loss) for the three and nine months ended September 30, 2016 and 2015 . With the completion of the student housing platform sale on June 21, 2016, the Company completed its previously announced portfolio strategy to focus solely on the retail asset class. Of the former reporting segments identified by the Company, only the retail segment remains as both an operating and reportable segment as of September 30, 2016 . Therefore, the Company will no longer present segment information. The accompanying consolidated financial statements include the accounts of InvenTrust Properties Corp., as well as all wholly owned subsidiaries and consolidated joint venture investments. Wholly owned subsidiaries generally consist of limited liability companies (LLCs) and limited partnerships (LPs). The effects of all significant intercompany transactions have been eliminated. Each property is owned by a separate legal entity that maintains its own books and financial records, and each entity's assets are not available to satisfy the liabilities of other affiliated entities, except as otherwise disclosed in "Note 7. Debt ". The Company owned 74 assets as of September 30, 2016 , including 73 retail assets with 12,159,788 square feet and one non-core asset with 322,326 square feet. The Company owned 129 assets as of December 31, 2015 and 142 assets as of September 30, 2015 .

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2016
Accounting Policies [Abstract]
Basis of Presentation and Summary of Significant Accounting Policies	Basis of Presentation and Summary of Significant Accounting Policies The accompanying consolidated financial statements have been prepared in accordance with GAAP and require management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates. Refer to the Company's audited consolidated financial statements for the year ended December 31, 2015 , as certain note disclosures contained in such audited consolidated financial statements have been omitted from these interim consolidated financial statements. Reclassifications Certain reclassifications have been made to the consolidated statements of operations and comprehensive income (loss) for the three and nine months ended September 30, 2015 to conform to the 2016 presentations. These reclassifications primarily represent the classification of salaries and benefits of corporate-level employees and overhead costs from property operating expenses to general and administrative expenses for the three and nine months ended September 30, 2015 of $1,824 and $4,396 , respectively, and the classification of specialty leasing income from rental income to other property income for the three and nine months ended September 30, 2015 of $626 and $1,141 , respectively. Disposition of Real Estate The Company accounts for dispositions in accordance with FASB ASC 360-20, Real Estate Sales. The Company recognizes gain in full when real estate is sold, provided (a) the profit is determinable, that is, the collectability of the sales price is reasonably assured or the amount that will not be collectible can be estimated, and (b) the earnings process is virtually complete, that is, the seller is not obliged to perform significant activities after the sale to earn the profit. In April 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2014-08, Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity , which includes amendments that change the requirements for reporting discontinued operations and require additional disclosures about discontinued operations. Under the new guidance, only disposals representing a strategic shift that has (or will have) a major effect on the entity’s results and operations would qualify as discontinued operations. In addition, ASU 2014-08 expands the disclosure requirements for disposals that meet the definition of a discontinued operation and requires entities to disclose information about disposals of individually significant components that do not meet the definition of discontinued operations. ASU No. 2014-08 is effective for interim and annual reporting periods in fiscal years that begin after December 15, 2014. The Company has elected to early adopt No. ASU 2014-08, effective January 1, 2014. Certain reclassifications have been made to the consolidated balance sheets as of September 30, 2016 and December 31, 2015 and the consolidated statements of operations and comprehensive income (loss) for the three and nine months ended September 30, 2016 and 2015 to reflect the classification of the student housing platform sale, the Highlands spin-off and the Xenia spin-off as discontinued operations. The assets and liabilities of these disposal groups classified as held for sale have been classified as assets and liabilities of discontinued operations on the consolidated balance sheets as of September 30, 2016 and December 31, 2015 . The operations reflected in discontinued operations on the consolidated statements of operations and comprehensive income (loss) for the three and nine months ended September 30, 2016 and 2015 include the 17 student housing assets included in the student housing platform sale, the unconsolidated student housing joint venture sold during the nine months ended September 30, 2016 , the 18 assets and four parcels of unimproved land included in the Highlands spin-off, one non-core asset, and one student housing asset. The operations of 46 assets included in the Xenia spin-off are also reflected in discontinued operations on the consolidated statements of operations and comprehensive income (loss) for the three and nine months ended September 30, 2015 . Recently Adopted Accounting Pronouncements In February 2015, the Financial Accounting Standards Board ("FASB") issued ASU 2015-02, Consolidation . This update includes amendments that change the requirements for evaluating limited partnerships and similar entities for consolidation. Under the new guidance, limited partnerships and similar entities will be considered variable interest entities ("VIEs") unless a scope exception applies. As such, entities that consolidate limited partnerships and similar entities that are considered to be VIEs will be subject to VIE primary beneficiary disclosure requirements, and entities that do not consolidate a VIE will be subject to the disclosure requirements that apply to variable interest holders other than the primary beneficiary. The new guidance also eliminates three of the six criteria for determining if fees paid to a decision maker or service provider are considered to be variable interest in a VIE and changes the criteria used to determine if variable interests in a VIE held by related parties of a reporting entity require the reporting entity to consolidate the VIE. This standard is effective for financial statements issued by public companies for annual and interim reporting periods beginning after December 15, 2015. The adoption did not have a significant impact on the Company's consolidated financial statements or disclosure requirements. In April 2015, the FASB issued ASU 2015-03, Simplifying the Presentation of Debt Issuance Costs , which 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, consistent with debt discounts. The recognition and measurement guidance for debt issuance costs are not affected. Subsequently, in August 2015, the FASB issued ASU 2015-15, Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements , which allows an entity to present the costs related to securing a line-of-credit arrangement as an asset, regardless of whether there are any outstanding borrowings. The Company adopted ASU 2015-03 and 2015-15 effective as of January 1, 2016 with retrospective application to the December 31, 2015 consolidated balance sheet. The effect of the adoption of ASU 2015-03 and 2015-15 was to reclassify debt issuance costs of approximately $8,496 as of December 31, 2015 from deferred costs and other assets in the consolidated balance sheet to a contra account as a deduction from debt in the consolidated balance sheet. There was no effect on the consolidated statements of operations and comprehensive income (loss). In September 2015, the FASB issued ASU 2015-16, Simplifying the Accounting for Measurement-Period Adjustments, which requires that if the initial accounting for a business combination is incomplete as of the end of the reporting period in which the acquisition occurs, the acquiror records provisional amounts based on information available at the acquisition date. This guidance is effective for the Company beginning January 1, 2016. The adoption did not have a significant impact on the Company's consolidated financial statements. Recently Issued Accounting Pronouncements Not Yet Adopted In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers , which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The ASU will replace most existing revenue recognition guidance in GAAP when it becomes effective, although it will not affect the accounting for rental related revenues. In April 2015, the FASB approved an amendment to the ASU, deferring the effective date one year to annual reporting periods beginning after December 15, 2017 for public entities. The standard permits the use of either the retrospective or cumulative effect transition method. Early adoption is prohibited. The Company is evaluating the effect that ASU No. 2014-09 will have on its consolidated financial statements and related disclosures. The Company has not yet selected a transition method nor has it determined the effect of the standard on its ongoing financial reporting. In January 2016, the FASB issued ASU No. 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities , which revises an entity's accounting related to: (i) the classification and measurement of investments in equity securities; (ii) the presentation of certain fair value changes for financial liabilities measured at fair value; and (iii) amends certain disclosure requirements associated with the fair value of financial instruments, including eliminating the requirement for public business entities to disclose the method and significant assumptions used to estimate the fair value for financial instruments measured at amortized cost. This guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2017. The Company is continuing to evaluate this guidance; however, the Company does not expect its adoption will have a significant impact on the consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, Leases , amending the existing accounting standards for lease accounting, including requiring lessees to recognize most leases on their balance sheets and making targeted changes to lessor accounting. ASU 2016-02 will be effective for annual reporting periods beginning after December 15, 2018, and early adoption is permitted as of the standard's issuance date. 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. The Company is assessing whether the new standard will have a material effect on its financial position or results of operations. In March 2016, the FASB issued ASU No. 2016-09, Compensation – Stock Compensation, which outlines improvements to Employee Share-Based Payment Accounting. The new standard impacts certain aspects of the accounting for share-based payment transactions, including income tax consequences, classification of awards as either equity or liabilities, and classification on the statements of cash flows. ASU No. 2016-09, as issued, will be effective on January 1, 2017, with early adoption permitted. The Company is continuing to evaluate this guidance; however, the Company does not expect its adoption will have a significant impact on the consolidated financial statements. In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230) . The new guidance is intended to reduce the existing diversity in practice in how certain cash receipts and cash payments are presented and classified in the statement of cash flows. The core principle of the ASU requires the classification of eight specific issues identified under ASC 230 to be presented as either financing, investing or operating, or some combination thereof, depending upon the nature of the issue. ASU 2016-15 will be effective for annual reporting periods, including interim periods within those annual periods, beginning after December 15, 2017, and early adoption is permitted. Entities are required to use a retrospective transition approach for all of the issues identified to each period presented. The Company has not yet evaluated and cannot determine the impact this standard will have on the Company's consolidated financial statements and related disclosures.

Acquired Properties

Acquired Properties	9 Months Ended
	Sep. 30, 2016
Business Combinations [Abstract]
Acquired Properties	Acquired Properties The Company records identifiable assets, liabilities, noncontrolling interests and goodwill acquired in a business combination at fair value. During the nine months ended September 30, 2016 , the Company acquired six wholly owned retail assets for a gross acquisition price of $401,600 and assumed mortgage debt of $16,000 on one acquisition as a part of non-cash financing activities. Asset Type Property Date Gross Acquisition Price Square Footage Retail Shops at the Galleria 4/1/2016 $ 132,000 538,000 Retail Renaissance Center 4/1/2016 129,200 363,000 Retail Stevenson Ranch 4/15/2016 72,500 187,000 Retail The Pointe at Creedmoor 7/12/2016 17,000 60,000 Retail Windward Commons 8/23/2016 27,600 117,000 Retail Old Grove Marketplace 8/25/2016 23,300 81,000 Total $ 401,600 1,346,000 The following table summarizes the estimated fair value of the assets acquired and liabilities assumed (excluding mortgage debt) for the nine months ended September 30, 2016 , as listed above. 2016 Acquisitions Land $ 141,215 Building and other improvements 239,149 Total investment properties 380,364 Intangible assets 37,453 Intangible liabilities (16,477 ) Net other assets and liabilities 260 Total fair value of assets acquired and liabilities assumed $ 401,600 The acquired properties are included in the Company's results of operations based on their date of acquisition. The following unaudited pro-forma results of operations reflect these transactions as if each had occurred on January 1, 2015. The pro-forma information is not necessarily indicative of the results that actually would have occurred nor does it indicate future operating results. Three months ended Nine months ended September 30, September 30, 2016 2015 2016 2015 Total income $ 61,236 $ 71,545 $ 192,581 $ 212,743 Net income (loss) from continuing operations $ 29,818 $ (101,140 ) $ 65,667 $ (50,491 ) For properties acquired during the nine months ended September 30, 2016 , the Company recorded revenue of $8,025 and $14,804 for the three and nine months ended September 30, 2016 , respectively. The Company recorded property net income of $5,833 and $10,920 , excluding related expensed acquisition costs, for the three and nine months ended September 30, 2016 , respectively. The Company incurred $239 and $1,009 of acquisition and transaction costs during the three and nine months ended September 30, 2016 , respectively, that were recorded in general and administrative expenses on the consolidated statements of operations and comprehensive income (loss). During the nine months ended September 30, 2015 , the Company acquired two retail properties and one student housing property for a gross acquisition price of $103,000 . The table below reflects acquisition activity during the nine months ended September 30, 2015 . Asset Type Property Date Gross Acquisition Price Square Footage Retail The Shops at Walnut Creek 4/10/2015 $ 57,100 216,334 Retail Westpark Shopping Center 5/12/2015 33,400 176,935 Student Housing Bishops Landing (a) 4/27/2015 12,500 Total $ 103,000 (a) The assets of the Bishops Landing acquisition were recorded as assets of discontinued operations on the consolidated balance sheet as of December 31, 2015. The following table summarizes the estimated fair value of the assets acquired and liabilities assumed for the nine months ended September 30, 2015 , as listed above. 2015 Acquisitions Land $ 17,594 Building and other improvements 70,138 Construction in progress 12,500 Total investment properties 100,232 Net other assets and liabilities 2,768 Total fair value of assets acquired and liabilities assumed $ 103,000 The Company placed in service two student housing properties and completed an addition on a third student housing property during the three and nine months ended September 30, 2015 . These assets were included in the student housing platform sale on June 21, 2016, and were recorded as assets of discontinued operations on the consolidated balance sheet as of December 31, 2015. The following table summarizes the assets placed in service during the nine months ended September 30, 2015 : 2015 Assets Placed In Service Land $ 17,745 Building and other improvements 130,767 Total fixed assets placed in service $ 148,512 For retail properties acquired during the nine months ended September 30, 2015 , the Company recorded revenue of $2,208 and $3,855 for the three and nine months ended September 30, 2015 , respectively. The Company recorded property net income of $1,460 and $2,619 , excluding related expensed acquisition costs for the three and nine months ended September 30, 2015 , respectively. The Company incurred $116 and $487 of acquisition and transaction costs during the three and nine months ended September 30, 2015 , respectively, that were recorded in general and administrative expenses on the consolidated statements of operations and comprehensive income (loss). The revenues, property net income, and acquisition and transaction costs of student housing assets acquired and placed in service during the three and nine months ended September 30, 2015 have been included as part of discontinued operations in the consolidated statements of operations and comprehensive income (loss).

Disposed Properties

Disposed Properties	9 Months Ended
	Sep. 30, 2016
Discontinued Operations and Disposal Groups [Abstract]
Disposed Properties	4. Disposed Properties The Company disposed of one non-core asset, one student housing asset, 24 retail assets, 17 assets as part of the student housing platform sale, its investment in an unconsolidated student housing joint venture, and 18 assets and four parcels of unimproved land as a part of the Highlands spin-off during the nine months ended September 30, 2016 for an aggregate gross disposition price of $1,887,550 . For the nine months ended September 30, 2016 , the Company generated net proceeds from the sale of properties of $1,533,492 . The Company sold four non-core assets and one land parcel during the nine months ended September 30, 2015 for an aggregate gross disposition price of $53,275 . For the nine months ended September 30, 2015 , the Company generated net proceeds from the sale of properties of $53,989 . Retail dispositions included in continuing operations The following retail properties were sold during the nine months ended September 30, 2016 . These properties have been included in continuing operations on the consolidated statement of operations and comprehensive income for the three and nine months ended September 30, 2016 . Property Date Gross Disposition Price Square Footage Cypress Town Center 1/7/2016 $ 7,300 55,000 James Center 1/13/2016 31,400 140,200 Streets of Indian Lake 3/11/2016 37,000 254,100 Lord Salisbury Center 3/11/2016 20,800 113,800 Fabyan Randall 3/25/2016 14,800 91,400 Ward's Crossing 4/1/2016 16,000 80,900 Bartow Marketplace 4/8/2016 34,800 375,000 Atascocita Shopping Center 4/25/2016 8,900 47,300 Southeast Grocery Portfolio - 6 properties 4/29/2016 68,700 535,300 Brandon Centre 5/2/2016 22,500 133,300 Westport Village 5/17/2016 23,800 168,700 Gravois Dillon Plaza 6/8/2016 15,200 148,100 Highland Plaza 6/30/2016 16,100 148,100 Washington Park Plaza 7/1/2016 32,000 235,000 Gateway Plaza 7/8/2016 17,800 105,000 Winchester & Spring Town Centers - 2 properties 7/8/2016 29,900 102,000 Heritage Crossing 8/16/2016 34,900 311,000 Paradise Shops of Largo 9/29/2016 11,000 54,600 Total $ 442,900 3,098,800 For the three months ended September 30, 2016 and 2015 , the Company recorded a gain on sale of investment properties of $29,586 and $729 , respectively, in continuing operations. For the nine months ended September 30, 2016 and 2015 , the Company recorded a gain on sale of investment properties of $105,998 and $7,957 , respectively, in continuing operations. Dispositions included in discontinued operations In line with the Company's adoption of the accounting standard governing discontinued operations during the year ended December 31, 2014, only disposals representing a strategic shift that have (or will have) a major effect on results and operations would qualify as discontinued operations. During the three and nine months ended September 30, 2016 and 2015, the Company completed a number of transactions representing a strategic shift that will have a major effect on the results and operations of the Company. Student housing platform disposition On June 21, 2016, the Company completed the sale of its student housing platform, University House. The Agreement's sale price was $1,410,000 . On the closing date, the Company received net cash consideration, after transaction costs, closing adjustments, payoff of certain debts, and assumption of certain debts by the buyer, of approximately $845,000 , $9,900 of which was deposited into escrow and relates to post closing obligations, $8,000 of which is being held pending resolution in connection with the completion of a development property as of September 30, 2016. The Company sold one student housing asset separately from the sale of its student housing platform for a gross disposition price of $33,350 during the three and nine months ended September 30, 2016 . For the three months ended September 30, 2016, the Company recorded a gain on sale related to one student housing asset sold separately from the sale of its student housing platform of $10,494 , which is included in discontinued operations. For the nine months ended September 30, 2016, the Company recorded a gain on sale related to the one student housing asset sold separately from the sale of its student housing platform during the third quarter of 2016 and the student housing platform sale of $235,780 , which is included in discontinued operations. The 17 student housing assets included in the student housing platform sale and the one student housing asset sold during the three and nine months ended September 30, 2016 have been classified as discontinued operations as the student housing platform sale represented a strategic shift away from its student housing portfolio and has had a major effect on the Company's operations and financial results. The assets and liabilities of these assets have been classified as assets and liabilities of discontinued operations on the consolidated balance sheets as of September 30, 2016 and December 31, 2015. The operations of these assets have been included as income from discontinued operations on the consolidated statements of operations and comprehensive income (loss) for the three and nine months ended September 30, 2016 and 2015. On February 4, 2013, the Company entered into a student housing joint venture agreement with Gerding Edlen Investors, LLC ("GE") in order to develop, construct and manage a student housing community. The joint venture is known as 15th & Walnut Owner, LLC ("Eugene"). On February 25, 2016, GE purchased the Company's partnership interest in the joint venture. This joint venture has been classified as a discontinued operation as the student housing platform sale represented a strategic shift away from its student housing portfolio and has had a major effect on the Company's operations and financial results. A gain on the sale of the joint venture of $1,434 was recorded for the nine months ended September 30, 2016 and is included as part of discontinued operations on the consolidated statements of operations and comprehensive income (loss). The investment in the unconsolidated entity has been classified as an asset of discontinued operations on the consolidated balance sheet as of December 31, 2015. The equity in earnings of the unconsolidated entity has been included as income from discontinued operations on the consolidated statements of operations and comprehensive income (loss) for the three and nine months ended September 30, 2016 and 2015. Combined financial information for the Eugene joint venture The following tables present the combined condensed financial information for the Company's investment in Eugene. As of September 30, 2016 December 31, 2015 Assets: Real estate assets, net of accumulated depreciation $ — $ 17,944 Other assets — 730 Total assets — 18,674 Liabilities and equity: Mortgage debt — 11,620 Other liabilities — 1,025 Equity — 6,029 Total liabilities and equity $ — $ 18,674 Company’s share of equity — 4,195 Net excess of the net book value of underlying assets over the cost of investments — — Carrying value of investments in unconsolidated entities $ — $ 4,195 Three months ended Nine months ended September 30, September 30, 2016 2015 2016 2015 Revenues $ — $ 502 $ 305 $ 1,510 Expenses: Interest expense and loan cost amortization — 83 58 261 Depreciation and amortization — 170 113 504 Operating expenses, ground rent and general and administrative expenses — 171 164 617 Total expenses — 424 335 1,382 Net income (loss) $ — $ 78 $ (30 ) $ 128 Company's equity in earnings (loss) of the Eugene unconsolidated entity $ — $ 48 $ (19 ) $ 79 Highlands REIT, Inc. spin-off and other non-core disposition On April 28, 2016, the Company completed the spin-off of Highlands, which held substantially all of the Company's remaining non-core assets. The assets included as part of the Highlands spin-off consisted of 18 assets and four parcels of unimproved land. The Company received no proceeds associated with the Highlands spin-off. For the nine months ended September 30, 2016 , the Company recorded a provision for asset impairment loss of $76,583 in connection with these assets, which is included in discontinued operations. The Company also sold one non-core asset during the nine months ended September 30, 2016 for a gross disposition price of $1,300 and recognized a gain on the sale of this asset of $117 . This non-core asset has been classified as a discontinued operation as it reflects the Company's strategic shift away from its previous non-core asset portfolio. The Highlands assets included in the spin-off and the one non-core asset sold during the nine months ended September 30, 2016 have been classified as discontinued operations as the Highlands spin-off and subsequent sale of a non-core asset represented a strategic shift away from the Company's non-core portfolio and has had a major effect on the Company's operations and financial results. The assets and liabilities of these assets and the non-core assets and have been classified as assets and liabilities of discontinued operations on the consolidated balance sheets as of September 30, 2016 and December 31, 2015. The operations of these assets have been included as income from discontinued operations on the consolidated statements of operations and comprehensive income (loss) for the three and nine months ended September 30, 2016 and 2015. Xenia Hotels & Resorts, Inc. spin-off On February 3, 2015, the Company completed the spin-off of its lodging subsidiary, Xenia Hotels & Resorts, Inc. The 46 assets included in the Xenia spin-off have been classified as discontinued operations as the Xenia spin-off represented a strategic shift that has had a major effect on the Company's operations and financial results. The assets and liabilities of these assets have been classified as assets and liabilities of discontinued operations on the consolidated balance sheet as of December 31, 2015. The operations of these assets have been included as income from discontinued operations on the consolidated statements of operations and comprehensive income (loss) for the three and nine months ended September 30, 2016 . The major classes of assets and liabilities of discontinued operations, by disposal group, as of September 30, 2016 and December 31, 2015 were as follows: As of September 30, 2016 As of December 31, 2015 Student housing platform sale Highlands spin-off and other non-core Xenia spin-off Total Student housing platform sale Highlands spin-off and other non-core Xenia Total Assets Investment properties: Land $ — $ — $ — $ — $ 114,741 $ 139,215 $ — $ 253,956 Building and other improvements — — — — 913,293 638,709 — 1,552,002 Construction in progress (27 ) — — (27 ) 68,408 — — 68,408 Total (27 ) — — (27 ) 1,096,442 777,924 — 1,874,366 Less accumulated depreciation — — — — (106,941 ) (165,261 ) — (272,202 ) Net investment properties (27 ) — — (27 ) 989,501 612,663 — 1,602,164 Investment in unconsolidated entities — — — — 4,195 — — 4,195 Accounts and rents receivable (net of allowance of $0 and $230) — — — — 2,596 11,785 — 14,381 Intangible assets, net — — — — 3,131 12,101 — 15,232 Deferred costs and other assets (a) 53 (3 ) 421 471 7,236 3,552 3,118 13,906 Total assets $ 26 $ (3 ) $ 421 $ 444 $ 1,006,659 $ 640,101 $ 3,118 $ 1,649,878 Liabilities Debt — — — — 371,450 404,056 — 775,506 Accounts payable and accrued expenses (b) 214 — — 214 19,170 26,076 — 45,246 Intangible liabilities, net — — — — — 4,668 — 4,668 Other liabilities (c) $ 218 $ (9 ) $ (56 ) $ 153 7,855 1,519 21 9,395 Total liabilities $ 432 $ (9 ) $ (56 ) $ 367 $ 398,475 $ 436,319 $ 21 $ 834,815 (a) Deferred costs and other assets at September 30, 2016 primarily include receivables from Xenia related to taxes. (b) Accounts payable and accrued expenses at September 30, 2016 primarily include accrued costs related to the student housing platform sale. (c) Other liabilities at September 30, 2016 primarily includes liabilities related to the student housing platform sale. The operations reflected in discontinued operations on the consolidated statements of operations and comprehensive income (loss) for the three and nine months ended September 30, 2016 include the 17 student housing assets included in the student housing platform sale, the unconsolidated student housing joint venture sold during the nine months ended September 30, 2016 , the 18 assets and four parcels of unimproved land included in the Highlands spin-off, one non-core asset, and one student housing asset. The operations of the 46 assets included in the Xenia spin-off are also reflected in discontinued operations on the consolidated statements of operations and comprehensive income (loss) for the three and nine months ended September 30, 2015. Three months ended Nine months ended September 30, September 30, 2016 2015 2016 2015 Revenues $ 854 $ 46,538 $ 85,149 $ 203,435 Less: Depreciation and amortization expense 188 15,258 30,018 56,400 Other expenses 1,137 17,950 34,577 99,713 Provision for asset impairment — — 76,583 — Operating (loss) income from discontinued operations $ (471 ) $ 13,330 $ (56,029 ) $ 47,322 Interest expense, income taxes, and other miscellaneous income (311 ) (8,358 ) (14,766 ) (26,262 ) Equity in earnings of unconsolidated entity — 48 (19 ) 79 Gain on sale of investment in unconsolidated entity — — 1,434 — Gain on sale of properties, net 10,494 — 235,780 — Loss on extinguishment of debt (617 ) — (2,826 ) — Net income from discontinued operations $ 9,095 $ 5,020 $ 163,574 $ 21,139 Less net income attributable to non-controlling interests — (8 ) — (16 ) Net income from discontinued operations attributable to Company $ 9,095 $ 5,012 $ 163,574 $ 21,123 Revenues of discontinued operations, per weighted average number of common shares outstanding, basic and diluted $ — $ 0.05 $ 0.10 $ 0.24 Net income from discontinued operations, per weighted average number of common shares outstanding, basic and diluted $ 0.01 $ 0.01 $ 0.19 $ 0.02 Weighted average number of common shares outstanding, basic and diluted 862,212,317 861,824,777 862,207,903 861,824,777 Student housing platform sale Net cash provided by operating activities from the properties classified as discontinued operations was $19,688 and $24,638 for the nine months ended September 30, 2016 and 2015 , respectively. Net cash provided by (used in) investing activities from the properties classified as discontinued operations was $1,229,912 and $(106,292) for the nine months ended September 30, 2016 and 2015 , respectively. Highlands spin-off and other non-core disposition Net cash (used in) provided by operating activities from the properties classified as discontinued operations was $(893) and $45,454 for the nine months ended September 30, 2016 and 2015 , respectively. Net cash used in investing activities from the properties classified as discontinued operations was $(3,217) and $(3,070) for the nine months ended September 30, 2016 and 2015 , respectively. Xenia spin-off Net cash provided by (used in) operating activities from the properties classified as discontinued operations was $(74) and $(6,712) for the nine months ended September 30, 2016 and 2015 , respectively. Net cash provided by (used in) investing activities from the properties classified as discontinued operations was $2,697 and $(4,344) for the nine months ended September 30, 2016 and 2015 , respectively.

Investment in Partially Owned E

Investment in Partially Owned Entities	9 Months Ended
	Sep. 30, 2016
Investment in Partially Owned Entities [Abstract]
Investment in Partially Owned Entities	Investment in Partially Owned Entities Unconsolidated Entities The entities listed below are owned by the Company and other unaffiliated parties in joint ventures. Net income, distributions and capital transactions for these properties are allocated to the Company and its joint venture partners in accordance with the respective partnership agreements. Refer to the Company's Annual Report on Form 10-K for the year ended December 31, 2015 for details of each unconsolidated entity. These entities are not consolidated by the Company and the equity method of accounting is used to account for these investments. Under the equity method of accounting, the net equity investment of the Company and the Company's share of net income or loss from the unconsolidated entity are reflected in the consolidated balance sheets and the consolidated statements of operations and comprehensive income (loss). Carrying Value of Investment at Entity Description Ownership % September 30, 2016 December 31, 2015 IAGM Retail Fund I, LLC Retail shopping centers 55% $ 127,244 $ 131,362 Downtown Railyard Venture, LLC Land development (a) 50,979 45,081 Other unconsolidated entities Various real estate investments Various 1,195 1,873 $ 179,418 $ 178,316 (a) On September 30, 2015, the Company was admitted as a member to Downtown Railyard Venture, LLC ("DRV"), which is a joint venture established in order to develop and sell a land development. Simultaneously, the Company structured and closed the sale of a non-core land development to DRV, which for accounting purposes is treated as a contribution of the land development to DRV in exchange for an equity interest of $46,174 in DRV (the foregoing transaction is referred to as the "Railyards Transaction"). The Company recorded a loss of $12,919 on the Railyards Transaction during the three and nine months ended September 30, 2015 due to the difference between the carrying value of the land and the fair value of the equity interest. The Company's ownership percentage in DRV is based upon a waterfall calculation outlined in the operating agreement. During the three and nine months ended September 30, 2016 and 2015 , the Company recorded no impairment on its unconsolidated entities. On February 4, 2013, the Company entered into a joint venture agreement with GE in order to develop, construct and manage a student housing community. On February 25, 2016, GE purchased the Company's partnership interest in the joint venture. A gain on the sale of the joint venture of $1,434 was recorded for the nine months ended September 30, 2016 and is included as part of discontinued operations on the consolidated statements of operations and comprehensive income (loss) as the Company's exit from the student housing market is a strategic shift that has had a major effect on the Company's operations and financial results. Combined Financial Information The following tables present the combined condensed financial information for the Company's investment in unconsolidated entities. As of September 30, 2016 December 31, 2015 Assets: Real estate assets, net of accumulated depreciation $ 638,526 $ 645,305 Other assets 88,519 99,165 Total assets $ 727,045 $ 744,470 Liabilities and equity: Mortgage debt 311,329 314,202 Other liabilities 69,054 78,617 Equity 346,662 351,651 Total liabilities and equity $ 727,045 $ 744,470 Company's share of equity $ 192,982 $ 192,311 Net excess of the net book value of underlying assets over the cost of investments (net of accumulated amortization of $2,061 and $1,630, respectively) (13,564 ) (13,995 ) Carrying value of investments in unconsolidated entities $ 179,418 $ 178,316 Three months ended Nine months ended September 30, September 30, 2016 2015 2016 2015 Revenues $ 15,420 $ 16,618 $ 52,554 $ 84,326 Expenses: Interest expense and loan cost amortization 3,334 5,174 9,972 12,814 Depreciation and amortization 6,325 4,679 20,992 16,961 Operating expenses, ground rent and general and administrative expenses 4,398 5,628 15,064 15,542 Total expenses 14,057 15,481 46,028 45,317 Net income $ 1,363 $ 1,137 $ 6,526 $ 39,009 Company's share of net (loss) income, net of excess basis depreciation of $130, $130, $390 and $390, respectively $ (152 ) $ 746 $ 3,107 $ 15,631 Distributions from unconsolidated entities in equity in earnings in excess of the investments' carrying value 4,001 4,564 4,632 17,631 Equity in earnings of unconsolidated entities $ 3,849 $ 5,310 $ 7,739 $ 33,262 Equity in earnings of unconsolidated entities on the consolidated statements of operations and comprehensive income (loss) of $3,849 and $7,739 for the three and nine months ended September 30, 2016 , respectively, include nonrecurring distributions that are in excess of the investments' carrying value by $4,001 and $4,632 for the three and nine months ended September 30, 2016 , respectively. Equity in earnings of unconsolidated entities on the consolidated statement of operations and comprehensive income of $5,310 and $33,262 for the three and nine months ended September 30, 2015 , respectively, include nonrecurring distributions from the sale of assets within two joint ventures that are in excess of the investments' carrying value by $4,564 and $17,631 for the three and nine months ended September 30, 2015 , respectively. The unconsolidated entities had total third party debt of $311,329 at September 30, 2016 that matures as follows: Maturities during the year ended December 31, Amount 2016 $ — 2017 — 2018 203,832 2019 16,246 2020 — Thereafter 91,251 $ 311,329 Of the total outstanding debt related to assets held by the Company's unconsolidated joint ventures, approximately $23,000 is recourse to the Company. It is anticipated that the joint ventures will be able to repay or refinance all of their debt on a timely basis.

Investment in Marketable Securi

Investment in Marketable Securities	9 Months Ended
	Sep. 30, 2016
Investments, All Other Investments [Abstract]
Investment in Marketable Securities	Investment in Marketable Securities Investment in marketable securities of $181,879 and $177,431 at September 30, 2016 and December 31, 2015 , respectively, consists primarily of preferred and common stock investments in other REITs and certain real estate related bonds which are classified as available-for-sale securities and recorded at fair value. The cost basis, net of impairments, of available-for-sale securities was $136,029 and $138,318 as of September 30, 2016 and December 31, 2015 , respectively. The Company's investment in marketable securities includes an approximately 5% ownership of the outstanding common stock of Xenia. The Company held an investment in Xenia securities reported at its fair value of $86,069 and $86,919 as of September 30, 2016 and December 31, 2015 , respectively. The cost basis of the Xenia securities held by the Company was $80,748 as of September 30, 2016 and December 31, 2015 , respectively, which is equal to 5% of the net equity, at historical cost basis, contributed to Xenia at the time of the Xenia spin-off. Unrealized holding gains and losses on available-for-sale securities are excluded from earnings and reported as a separate component of comprehensive income until realized. The Company has net accumulated other comprehensive income related to its marketable securities portfolio of $45,850 and $39,113 , which includes gross unrealized losses of $546 and $2,242 related to its marketable securities as of September 30, 2016 and December 31, 2015 , respectively. Securities with gross unrealized losses have a related fair value of $2,977 and $10,712 as of September 30, 2016 and December 31, 2015 , respectively. The unrealized gain on the Xenia securities held by the Company was $5,321 and $6,171 as of September 30, 2016 and December 31, 2015 , respectively. The Company's policy for assessing recoverability of its available-for-sale securities is to record a charge against net earnings when the Company determines that the fair value of a security drops below the cost basis and believes that decline to be other-than-temporary. Factors in the assessment of other-than-temporary impairment include determining whether (1) the Company has the ability and intent to hold the security until it recovers, and (2) the length of time and degree to which the security's price has declined. An other-than-temporary impairment to available-for-sale securities of $1,327 was recorded for the three and nine months ended September 30, 2016 . There was no impairment to available-for-sale securities recorded for the three and nine months ended September 30, 2015. During the three months ended September 30, 2016 and 2015 , dividend income of $2,650 and $2,390 , respectively, was recognized and is included in interest and dividend income on the consolidated statements of operations and comprehensive income (loss). During the nine months ended September 30, 2016 and 2015 , dividend income of $7,950 and $7,853 , respectively, was recognized and is included in interest and dividend income on the consolidated statements of operations and comprehensive income (loss).

Debt

Debt	9 Months Ended
	Sep. 30, 2016
Notes and Loans Payable [Abstract]
Debt	7. Debt Mortgages Payable Mortgage loans outstanding as of September 30, 2016 and December 31, 2015 were $508,032 and $1,774,221 , respectively, and had a weighted average interest rate of 4.95% and 4.94% per annum, respectively. Mortgage discount, net, was $603 and $5,568 as of September 30, 2016 and December 31, 2015 , respectively. Debt issuance costs, which are presented as a deduction from the related debt liabilities, were $4,014 and $8,496 as of September 30, 2016 and December 31, 2015 , respectively. During the nine months ended September 30, 2016 , the Company assumed mortgage debt of $16,000 on one acquisition as a part of non-cash financing activities. Of the mortgage loans outstanding at December 31, 2015 , approximately $778,793 related to liabilities of discontinued operations. There was no mortgage discount, net, related to liabilities of discontinued operations as of December 31, 2015 . Of the debt issuance costs, approximately $3,287 related to liabilities of discontinued operations as of December 31, 2015 . As of September 30, 2016 , scheduled maturities for the Company's outstanding mortgage indebtedness had various due dates through June 2037 , as follows: Maturity Date As of September 30, 2016 Weighted average interest rate 2016 $ 25,186 6.06% 2017 185,934 5.57% 2018 59,575 4.25% 2019 — —% 2020 — —% Thereafter 237,337 4.53% Total $ 508,032 4.95% It is anticipated that the Company will be able to repay, refinance or extend the debt maturing in 2016 , and the Company believes it has adequate sources of funds to meet short-term cash needs related to these refinancings. Of the total outstanding debt for all years, approximately $3,550 is recourse to the Company at September 30, 2016 . It is anticipated that the Company will use proceeds from sales, cash on hand, capacity on term loan and line of credit to repay, refinance or extend the debt maturing in 2016 and 2017. Some of the mortgage loans require compliance with certain covenants, such as debt service coverage ratios, investment restrictions and distribution limitations. As of September 30, 2016 and December 31, 2015 , the Company was in compliance with all mortgage loan requirements except one loan with a carrying value of $3,151 , which matures in 2016 . This loan is not cross-collateralized with any other mortgage loans and is not recourse to the Company. Term loan and line of credit On November 5, 2015 , the Company entered into a term loan credit agreement for a $300,000 unsecured credit facility with a syndicate of seven lenders led by Wells Fargo Securities, LLC, Merrill Lynch, Pierce, Fenner & Smith, Incorporated and PNC Capital Markets LLC as joint lead arrangers. The accordion feature allows the Company to increase the size of the unsecured term loan credit facility to $600,000 , subject to certain conditions. The term loan credit facility consists of two tranches: a five-year tranche maturing on January 15, 2021, and a seven-year tranche maturing on November 5, 2022 . The credit facility can be drawn for one year from the agreement date, after which the unused portion of the credit facility will terminate. The credit facility is subject to maintenance of certain financial covenants. As of September 30, 2016 and December 31, 2015 , the Company was in compliance with all of the covenants and default provisions under the credit agreement. Interest rates are based on the Company's total leverage ratio. Based upon the Company's total leverage ratios at September 30, 2016 and December 31, 2015 , the five-year tranche bears an interest rate of LIBOR plus 1.30% and the seven-year tranche bears an interest rate of 1-month LIBOR plus 1.60% . The Company had $150,000 and $190,000 available under the term loan as of September 30, 2016 and December 31, 2015 , respectively. The interest rate on the outstanding balance of the term loan was 1.82% and 1.59% as of September 30, 2016 and December 31, 2015 , respectively. On February 3, 2015 , the Company entered into an amended and restated credit agreement for a $300,000 unsecured revolving line of credit with KeyBank National Association, JP Morgan Chase Bank National Association and other financial institutions. The accordion feature allows the Company to increase the size of its unsecured line of credit up to $600,000 , subject to certain conditions. The unsecured revolving line of credit matures on February 2, 2019 and contains one twelve-month extension option that the Company may exercise upon payment of an extension fee equal to 0.15% of the commitment amount on the maturity date and subject to certain other conditions. The unsecured revolving line of credit bears interest at a rate equal to 1-month LIBOR plus 1.40% and requires the maintenance of certain financial covenants. As of September 30, 2016 and December 31, 2015 , the Company was in compliance with all of the covenants and default provisions under the credit agreement. The Company had $300,000 and $300,000 available under the revolving line of credit as of September 30, 2016 and December 31, 2015 , respectively.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2016
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements In accordance with ASC 820, Fair Value Measurement and Disclosures, the Company defines fair value based on the price that would be received upon sale of an asset or the exit price that would be paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Company uses a fair value hierarchy that prioritizes observable and unobservable inputs used to measure fair value. The fair value hierarchy consists of three broad levels, which are described below: • Level 1 – Quoted prices in active markets for identical assets or liabilities that the entity has the ability to access. • Level 2 – Observable inputs, other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. • Level 3 – Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets and liabilities. This includes certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs. The Company has estimated the fair value of its financial and non-financial instruments using available market information and valuation methodologies the Company believes to be appropriate for these purposes. Considerable judgment and a high degree of subjectivity are involved in developing these estimates and, accordingly, they are not necessarily indicative of amounts that would be realized upon disposition. Recurring Measurements For assets and liabilities measured at fair value on a recurring basis, quantitative disclosure of the fair value for each major category of assets and liabilities is presented below: Fair Value Measurements at September 30, 2016 Using Quoted Prices in Active Markets for Identical Assets Using Significant Using Significant (Level 1) (Level 2) (Level 3) Available-for-sale real estate equity securities $ 180,249 $ — $ — Real estate related bonds — 1,630 — Total assets $ 180,249 $ 1,630 $ — Derivative interest rate instruments — (2,272 ) — Total liabilities $ — $ (2,272 ) $ — Fair Value Measurements at December 31, 2015 Using Quoted Prices in Active Markets for Identical Assets Using Significant Other Observable Inputs Using Significant Other Unobservable Inputs (Level 1) (Level 2) (Level 3) Available-for-sale real estate equity securities $ 175,127 $ — $ — Real estate related bonds — 2,304 — Total assets $ 175,127 $ 2,304 $ — Derivative interest rate instruments — (1,941 ) — Total liabilities $ — $ (1,941 ) $ — Level 1 At September 30, 2016 and December 31, 2015 , the fair value of the available-for-sale real estate equity securities has been valued based upon quoted market prices for the same or similar issues when current quoted market prices were available. Unrealized gains or losses on investment are reflected in unrealized gain (loss) on investment securities in comprehensive income on the consolidated statements of operations and comprehensive income (loss). Level 2 To calculate the fair value of the real estate related bonds and the derivative interest rate instruments, the Company primarily uses quoted prices for similar securities and contracts. For the real estate related bonds, the Company reviews price histories for similar market transactions. For the derivative interest rate instruments, the Company uses inputs based on data that is observed in the forward yield curve which is widely observable in the marketplace. The Company also incorporates credit valuation adjustments to appropriately reflect both its own nonperformance risk and the respective counterparties’ nonperformance risk in the fair value measurements which utilizes Level 3 inputs, such as estimates of current credit spreads. However, as of September 30, 2016 and December 31, 2015 , the Company determined that the credit valuation adjustments are not significant to the overall valuation of its derivatives. As a result, the Company determined that its derivative valuations in their entirety are classified in Level 2 of the fair value hierarchy. As of September 30, 2016 and December 31, 2015 , the Company had outstanding interest rate swap agreements with a notional value of $150,000 and $157,000 , respectively. Level 3 At September 30, 2016 and December 31, 2015 , the Company had no Level 3 recurring fair value measurements. Nonrecurring Measurements The following table summarizes activity for the Company’s assets measured at fair value on a nonrecurring basis. The Company recognized certain impairment charges to reflect the investments at their fair values for the three and nine months ended September 30, 2016 and 2015 . The asset groups that were reflected at fair value through this evaluation are: For the three months ended September 30, 2016 September 30, 2015 Fair Value Measurements Using Significant Unobservable Inputs Total Fair Value Measurements Using Significant Unobservable Inputs Total Investment properties, continuing operations $ 27,170 $ 2,818 $ 59,092 $ 92,167 Investment properties, discontinued operations — — — — Total $ 27,170 $ 2,818 $ 59,092 $ 92,167 For the nine months ended September 30, 2016 September 30, 2015 Fair Value Measurements Using Significant Unobservable Inputs Total Fair Value Measurements Using Significant Unobservable Inputs Total Investment properties, continuing operations $ 108,470 $ 41,139 $ 59,092 $ 92,167 Investment properties, discontinued operations 542,208 76,583 — — Total $ 650,678 $ 117,722 $ 59,092 $ 92,167 Investment properties, continuing operations During the three and nine months ended September 30, 2016 , the Company identified certain assets which may have a reduction in the expected holding period and reviewed the probability of these properties' disposition. The Company's estimated fair value relating to the investment assets' impairment analysis was based on purchase contracts and ten-year discounted cash flow models, which includes contractual revenues and unobservable inputs such as forecasted revenues and expenses. These unobservable inputs are based on market conditions and the Company's expected growth rates. During the three and nine months ended September 30, 2016 , capitalization rates ranging from 6.00% to 7.00% and discount rates ranging from 7.00% to 8.00% were utilized in the model and are based upon observable rates that the Company believes to be within a reasonable range of current market rates. For the three months ended September 30, 2016, the Company recorded a provision for asset impairment of $2,818 in continuing operations on one retail asset based on a discounted cash flow analysis. For the nine months ended September 30, 2016 , the Company recorded a provision for asset impairment of $41,139 in continuing operations on three retail assets and one non-core asset based on purchase contracts and discounted cash flow analysis. During the three and nine months ended September 30, 2015, the Company completed the Railyards Transaction. See joint venture disclosure in "Note 5. Investment in Partially Owned Entities". The Company’s estimated fair value relating to the investment property's impairment analysis was based on a third party independent appraisal obtained as of September 30, 2015. The appraisal utilized a twelve-year discounted cash flow model, which includes inflows and outflows over a specific holding period. The cash flows consist of unobservable inputs such as forecasted revenues and expenses. These unobservable inputs are based on market conditions and expected growth rates. A discount rate of 14% was utilized in the model and is based upon observable rates within a reasonable range of current market rates. It was determined the property was impaired and therefore was written down to fair value. The Company recorded an impairment charge of $92,167 on this property for the three and nine months ended September 30, 2015 . Investment properties, discontinued operations As discussed in "Note 1. Organization", the Company completed the Highlands spin-off on April 28, 2016. In connection with the Highlands spin-off, the Company evaluated Highlands as a disposal group for impairment. The Company's estimated fair value relating to the disposal group's impairment analysis was based on 10-year discounted cash flow models, which includes contractual inflows and outflows over a specific holding period. The cash flows consist of observable inputs such as contractual revenues and unobservable inputs forecasted revenues and expenses. These unobservable inputs are based on market conditions and the Company's expected growth rates. As of the spin date, capitalization rates ranging from 6.75% to 10.00% and discount rates ranging from 7.75% to 15.25% were utilized in the model and were based upon observable rates that the Company believes to be within a reasonable range of current market rates. Based on this analysis, the Company recorded an impairment related to the Highlands spin-off of $76,583 in discontinued operations for the nine months ended September 30, 2016 as the net book value of the disposal group exceeded its fair value. There was no impairment recorded for the three and nine months ended September 30, 2015 for investment properties included in discontinued operations on the statement of operations and comprehensive income. Financial Instruments Not Measured at Fair Value The table below represents the fair value of financial instruments presented at carrying values in the Company's consolidated financial statements as of September 30, 2016 and December 31, 2015 . September 30, 2016 December 31, 2015 Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value Mortgages payable $ 508,032 $ 511,820 $ 1,774,221 $ 1,789,464 Line of credit and term loan $ 150,000 $ 150,000 $ 110,000 $ 110,000 The Company estimates the fair value of its mortgages payable using a weighted average effective market interest rate of 5.10% per annum. The fair value estimate of the line of credit and term loan approximates the carrying value due to limited market volatility in pricing. The assumptions reflect the terms currently available on similar borrowing terms to borrowers with credit profiles similar to the Company's. The Company has determined that its debt instrument valuations are classified in Level 2 of the fair value hierarchy.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2016
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company has elected and has operated so as to qualify to be taxed as a real estate investment trust ("REIT") under the Internal Revenue Code of 1986, as amended (the "Code"), commencing with the tax year ended December 31, 2005. So long as it qualifies as a REIT, the Company generally will not be subject to federal income tax on taxable income that is distributed currently to stockholders. A REIT is subject to a number of organizational and operational requirements including a requirement that it currently distribute at least 90% of its REIT taxable income (subject to certain adjustments and excluding capital gains) to its stockholders each year. If the Company fails to qualify as a REIT in any taxable year, without the benefit of certain relief provisions, the Company will be subject to federal and state income tax on its taxable income at regular corporate tax rates and would not be able to re-elect REIT status during the four years following the year of the failure. Even if the Company qualifies for taxation as a REIT, the Company may be subject to certain state and local taxes on its income, property or net worth and federal income and excise taxes on its undistributed income. On December 15, 2015, MB REIT redeemed all of the outstanding shares of its Series B Preferred Stock and became a wholly-owned subsidiary of InvenTrust. At that time, MB REIT became a Qualified REIT Subsidiary ("QRS") of the Company and ceased to be treated as a separate REIT for U.S. federal income tax purposes. As a QRS, MB REIT was disregarded as a separate entity from the Company for federal income tax purposes. All assets, liabilities and items of income, deduction and credit of MB REIT were treated for federal income tax purposes as those of the Company. MB REIT was included in the Highlands spin-off as described in "Note 4. Disposed Properties ." From December 15, 2015 through the date of the Highlands spin-off, the Company included all items of income, deduction, and credit of MB REIT. The Company has elected to treat certain of its consolidated subsidiaries, and may in the future elect to treat certain newly formed subsidiaries, as taxable REIT subsidiaries pursuant to the Code. Taxable REIT subsidiaries may participate in non-real estate related activities (whether or not a REIT could engage in such activities) and/or perform non-customary services for tenants and are subject to federal and state income tax at regular corporate tax rates. During the nine months ended September 30, 2015 , the Company's hotels were leased to certain of the Company's taxable REIT subsidiaries. Lease revenue from these taxable REIT subsidiaries and the Company's wholly-owned subsidiaries is eliminated in consolidation. For the three months ended September 30, 2016 and 2015 , an income tax expense of $286 and $1,556 , respectively, was included in continuing operations on the consolidated statements of operations and comprehensive income (loss). For the nine months ended September 30, 2016 and 2015 , an income tax expense of $480 and $2,402 , respectively, was included in continuing operations on the consolidated statements of operations and comprehensive income (loss). For the three months ended September 30, 2016 and 2015 , income tax expense of $90 and benefit of $1,159 , respectively, was included in net income from discontinued operations on the consolidated statements of operations and comprehensive income (loss). For the nine months ended September 30, 2016 and 2015 , income tax expense of $279 and $1,030 , respectively, was included in net income from discontinued operations on the consolidated statements of operations and comprehensive income (loss).

Earnings per Share

Earnings per Share	9 Months Ended
	Sep. 30, 2016
Earnings Per Share [Abstract]
Earnings per Share and Equity Transactions	Earnings per Share and Equity Transactions Basic earnings per share ("EPS") are computed using the two-class method by dividing net income by the weighted average number of common shares outstanding for the period (the "common shares"). Diluted EPS is computed using the treasury method if more dilutive, by dividing net income by the common shares plus potential common shares issuable upon exercising options or other contracts. The following table reconciles the amounts used in calculating basic and diluted income per share (in thousands, except weighted average share and per share amounts): Three months ended Nine months ended September 30, September 30, 2016 2015 2016 2015 Net income (loss) from continuing operations $ 28,224 $ (100,659 ) $ 62,853 $ (48,880 ) Less: Dividends declared on common stock (14,550 ) (28,010 ) (70,592 ) (110,601 ) Less: Dividends declared on unvested restricted stock units (76 ) — (164 ) — Less: Undistributed income allocated to unvested shares (49 ) (65 ) — (65 ) Undistributed income (loss) $ 13,549 $ (128,734 ) $ (7,903 ) $ (159,546 ) Add: Dividends on common stock 14,550 28,010 70,592 110,601 Distributed and undistributed income (loss) from continuing operations, basic and diluted $ 28,099 $ (100,724 ) $ 62,689 $ (48,945 ) Income from discontinued operations allocated to common stockholders $ 9,095 $ 5,012 $ 163,574 $ 21,123 Weighted average shares outstanding, basic and diluted 862,212,317 861,824,777 862,207,903 861,824,777 Income (loss) from continuing operations allocated to common shareholders per share $ 0.03 $ (0.12 ) $ 0.07 $ (0.06 ) Income from discontinued operations allocated to common shareholders per share $ 0.01 $ 0.01 $ 0.19 $ 0.02

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation	Stock-Based Compensation Share Unit Plans During 2014, the Company adopted the following three long-term incentive plans: (1) the Inland American Real Estate Trust, Inc. 2014 Share Unit Plan (the "Retail Plan"), with respect to the Company's retail business; (2) the Xenia Hotels & Resorts, Inc. 2014 Share Unit Plan (the "Lodging Plan"), with respect to the Company's lodging business; and (3) the Inland American Communities Group, Inc. 2014 Share Unit Plan (the "Student Housing Plan"), with respect to the Company's student housing business (collectively, the "Share Unit Plans"). Each Share Unit Plan provides for the grant of "share unit" awards to eligible participants. The value of a "share unit" was determined based on a phantom capitalization of the Company's retail/non-core business, lodging business and student housing business, and does not necessarily correspond to the value of a share of common stock of the Company, Xenia or Inland American Communities Group, Inc. (University House Communities Group, Inc.), as applicable. Vesting of the share units is conditioned upon the occurrence of a triggering event, such as a listing or a change in control of the applicable business, and if no triggering event occurs within five years following the applicable grant date, then the share units are forfeited. The Company does not recognize share-based compensation expense with respect to the Share Unit Plans until the occurrence of a triggering event. As of February 3, 2015, the share units outstanding under the Lodging Plan were included in the Xenia spin-off. As of June 19, 2015, in connection with the adoption of the Incentive Award Plan (as defined below), the Company terminated the Retail Plan. Awards outstanding as of June 19, 2015 with a grant date value of $7,845 under the Retail Plan will remain outstanding and subject to the terms of the Retail Plan and the applicable award agreement. No additional awards will be granted under the Retail Plan. The closing of the student housing platform sale on June 21, 2016 was a triggering event under the Student Housing Plan. As of June 20, 2016, share unit awards granted in 2016, 2015 and 2014 with an aggregate vested value of $2,246 , $1,796 and $833 , respectively, were outstanding under the Student Housing Plan, and were paid as part of the closing of the student housing platform sale and recorded as an offset of the gain on the student housing platform sale, which was included in discontinued operations on the consolidated statements of operations and comprehensive income (loss) for the nine months ended September 30, 2016 . Share unit awards vested under the Student Housing Plan during the nine months ended September 30, 2016 with an aggregate value of $313 are included in continuing operations on the consolidated statements of operations and comprehensive income (loss). As a triggering event had not occurred with respect to the Company's retail business, the Company did not recognize stock-based compensation expense related to the Retail Plan for the three and nine months ended September 30, 2016 and 2015 . Incentive Award Plan Effective as of June 19, 2015, the Company's board of directors adopted and approved the InvenTrust Properties Corp. 2015 Incentive Award Plan (the "Incentive Award Plan"), under which the Company may grant cash and equity incentive awards to eligible employees, directors, and consultants. Under the Incentive Award Plan, the Company is authorized to grant up to 30,000,000 shares of the Company's common stock pursuant to awards under the plan. At September 30, 2016 , 26,523,304 shares were available for future issuance under the Incentive Award Plan. A summary of the Company's restricted stock unit activity as of September 30, 2016 is as follows: Number of Restricted Stock Units Weighted Average Price at Grant Date Outstanding at January 1, 2016 951,555 $4.00 Restricted stock units granted 2,334,226 3.14 Restricted stock units vested, granted in 2015 (8,489 ) 4.00 Restricted stock units vested, granted in 2016 (9,969 ) 3.14 Restricted stock units forfeited, granted in 2015 (179,608 ) 4.00 Restricted stock units forfeited, granted in 2016 (258,172 ) 3.14 Outstanding at September 30, 2016 2,829,543 $3.37 At September 30, 2016 , there was $7,112 of total unrecognized compensation expense related to unvested stock-based compensation arrangements granted under the Incentive Award Plan. The restricted stock units outstanding as of September 30, 2016 have vesting schedules through December 2017 or 2018, as applicable. Stock-based compensation expense will be amortized on a straight-line basis over the vesting period. The Company recognized stock-based compensation expense of $1,247 and $2,583 related to the Incentive Award Plan for the three and nine months ended September 30, 2016 , respectively. The Company recognized stock-based compensation expense of $1,123 and $1,260 related to the Incentive Award Plan for the three and nine months ended September 30, 2015 , respectively.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies The Company is subject, from time to time, to various legal proceedings and claims that arise in the ordinary course of business. While the resolution of these matters cannot be predicted with certainty, management believes, based on currently available information, that the final outcome of such matters will not have a material adverse effect on the financial condition, results of operations or liquidity of the Company. The Company is party to personal injury lawsuits from time to time. These lawsuits and any resulting damages are generally covered by the Company's insurance policies. However, on October 6, 2016, the Company's insurance carrier served the Company with a reservation of rights letter alleging that insurance coverage will not be provided for certain damages that could be awarded at the trial of one pending lawsuit. The Company believes the position of the insurer is not supported by any evidence and intends to vigorously contest any denial of insurance coverage. While management does not believe that an adverse outcome, if any, in this lawsuit would have a material adverse effect on the Company's financial condition, there can be no assurance that an adverse outcome would not have a material effect on the Company's results of operations for any particular period. The Company is unable to estimate the effect of this lawsuit and therefore has not recorded an estimate as of September 30, 2016 on the consolidated balance sheets or the consolidated statement of operations and comprehensive income (loss) for the three and nine months ended September 30, 2016 and 2015.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2016
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Distribution Rate Effective for the quarterly distribution paid in October 2016, the Company reduced its annual distribution rate from $0.13 per share of common stock to $0.0675 per share of common stock. The adjustment to the distribution rate equates to a 2016 calendar year total distribution of $0.09875 per share (an annual rate of $0.13 per share through June 30, 2016 and an annual rate of $0.0675 per share from July 1, 2016 to year-end). Distributions were paid on October 6, 2016 to each stockholder of record on September 30, 2016 in the amount of $0.016875 per share. Tender Offer On October 27, 2016, the Company commenced a modified "Dutch Auction" self-tender offer to purchase for cash up to $200 million in value of shares of its common stock. In accordance with the terms and subject to the conditions of the offer to purchase and letter of transmittal, the Company will select the lowest price, which will not exceed $2.94 nor be less than $2.45 per share, net to the seller in cash, less any applicable withholding of taxes and without interest, that will enable the Company to purchase up to the maximum number of shares of common stock having an aggregate purchase price not exceeding $200 million . The tender offer is scheduled to expire at 5:00 p.m., New York City time, on November 28, 2016, unless the offer is extended or withdrawn. Acquisitions Subsequent to September 30, 2016 , the Company acquired Northcross Commons in Huntersville, North Carolina on October 14, 2016. This retail community center consists of approximately 63,000 square feet and was purchased at a gross acquisition price of $31.0 million . Dispositions Subsequent to September 30, 2016 , the Company disposed of, at a gain of approximately $13.9 million , four retail assets consisting of a combined 158,000 square feet for an aggregate gross disposition price of $36.6 million .

Acquired Properties (Tables)

Acquired Properties (Tables)	9 Months Ended
	Sep. 30, 2016
Business Combinations [Abstract]
Schedule of Business Acquisitions	During the nine months ended September 30, 2016 , the Company acquired six wholly owned retail assets for a gross acquisition price of $401,600 and assumed mortgage debt of $16,000 on one acquisition as a part of non-cash financing activities. Asset Type Property Date Gross Acquisition Price Square Footage Retail Shops at the Galleria 4/1/2016 $ 132,000 538,000 Retail Renaissance Center 4/1/2016 129,200 363,000 Retail Stevenson Ranch 4/15/2016 72,500 187,000 Retail The Pointe at Creedmoor 7/12/2016 17,000 60,000 Retail Windward Commons 8/23/2016 27,600 117,000 Retail Old Grove Marketplace 8/25/2016 23,300 81,000 Total $ 401,600 1,346,000 The following table summarizes the estimated fair value of the assets acquired and liabilities assumed (excluding mortgage debt) for the nine months ended September 30, 2016 , as listed above. 2016 Acquisitions Land $ 141,215 Building and other improvements 239,149 Total investment properties 380,364 Intangible assets 37,453 Intangible liabilities (16,477 ) Net other assets and liabilities 260 Total fair value of assets acquired and liabilities assumed $ 401,600 During the nine months ended September 30, 2015 , the Company acquired two retail properties and one student housing property for a gross acquisition price of $103,000 . The table below reflects acquisition activity during the nine months ended September 30, 2015 . Asset Type Property Date Gross Acquisition Price Square Footage Retail The Shops at Walnut Creek 4/10/2015 $ 57,100 216,334 Retail Westpark Shopping Center 5/12/2015 33,400 176,935 Student Housing Bishops Landing (a) 4/27/2015 12,500 Total $ 103,000 (a) The assets of the Bishops Landing acquisition were recorded as assets of discontinued operations on the consolidated balance sheet as of December 31, 2015. The following table summarizes the estimated fair value of the assets acquired and liabilities assumed for the nine months ended September 30, 2015 , as listed above. 2015 Acquisitions Land $ 17,594 Building and other improvements 70,138 Construction in progress 12,500 Total investment properties 100,232 Net other assets and liabilities 2,768 Total fair value of assets acquired and liabilities assumed $ 103,000 The Company placed in service two student housing properties and completed an addition on a third student housing property during the three and nine months ended September 30, 2015 . These assets were included in the student housing platform sale on June 21, 2016, and were recorded as assets of discontinued operations on the consolidated balance sheet as of December 31, 2015. The following table summarizes the assets placed in service during the nine months ended September 30, 2015 : 2015 Assets Placed In Service Land $ 17,745 Building and other improvements 130,767 Total fixed assets placed in service $ 148,512
Schedule of Pro Forma Information	The following unaudited pro-forma results of operations reflect these transactions as if each had occurred on January 1, 2015. The pro-forma information is not necessarily indicative of the results that actually would have occurred nor does it indicate future operating results. Three months ended Nine months ended September 30, September 30, 2016 2015 2016 2015 Total income $ 61,236 $ 71,545 $ 192,581 $ 212,743 Net income (loss) from continuing operations $ 29,818 $ (101,140 ) $ 65,667 $ (50,491 )

Disposed Properties (Tables)

Disposed Properties (Tables)	9 Months Ended
	Sep. 30, 2016
Discontinued Operations and Disposal Groups [Abstract]
Summary of Disposal Activity, Excluding Discontinued Operations, Disposal Activity [Table Text Block]	The following retail properties were sold during the nine months ended September 30, 2016 . These properties have been included in continuing operations on the consolidated statement of operations and comprehensive income for the three and nine months ended September 30, 2016 . Property Date Gross Disposition Price Square Footage Cypress Town Center 1/7/2016 $ 7,300 55,000 James Center 1/13/2016 31,400 140,200 Streets of Indian Lake 3/11/2016 37,000 254,100 Lord Salisbury Center 3/11/2016 20,800 113,800 Fabyan Randall 3/25/2016 14,800 91,400 Ward's Crossing 4/1/2016 16,000 80,900 Bartow Marketplace 4/8/2016 34,800 375,000 Atascocita Shopping Center 4/25/2016 8,900 47,300 Southeast Grocery Portfolio - 6 properties 4/29/2016 68,700 535,300 Brandon Centre 5/2/2016 22,500 133,300 Westport Village 5/17/2016 23,800 168,700 Gravois Dillon Plaza 6/8/2016 15,200 148,100 Highland Plaza 6/30/2016 16,100 148,100 Washington Park Plaza 7/1/2016 32,000 235,000 Gateway Plaza 7/8/2016 17,800 105,000 Winchester & Spring Town Centers - 2 properties 7/8/2016 29,900 102,000 Heritage Crossing 8/16/2016 34,900 311,000 Paradise Shops of Largo 9/29/2016 11,000 54,600 Total $ 442,900 3,098,800
Schedule of Disposals Qualifying as Discontinued Operations	The following tables present the combined condensed financial information for the Company's investment in Eugene. As of September 30, 2016 December 31, 2015 Assets: Real estate assets, net of accumulated depreciation $ — $ 17,944 Other assets — 730 Total assets — 18,674 Liabilities and equity: Mortgage debt — 11,620 Other liabilities — 1,025 Equity — 6,029 Total liabilities and equity $ — $ 18,674 Company’s share of equity — 4,195 Net excess of the net book value of underlying assets over the cost of investments — — Carrying value of investments in unconsolidated entities $ — $ 4,195 Three months ended Nine months ended September 30, September 30, 2016 2015 2016 2015 Revenues $ — $ 502 $ 305 $ 1,510 Expenses: Interest expense and loan cost amortization — 83 58 261 Depreciation and amortization — 170 113 504 Operating expenses, ground rent and general and administrative expenses — 171 164 617 Total expenses — 424 335 1,382 Net income (loss) $ — $ 78 $ (30 ) $ 128 Company's equity in earnings (loss) of the Eugene unconsolidated entity $ — $ 48 $ (19 ) $ 79 The major classes of assets and liabilities of discontinued operations, by disposal group, as of September 30, 2016 and December 31, 2015 were as follows: As of September 30, 2016 As of December 31, 2015 Student housing platform sale Highlands spin-off and other non-core Xenia spin-off Total Student housing platform sale Highlands spin-off and other non-core Xenia Total Assets Investment properties: Land $ — $ — $ — $ — $ 114,741 $ 139,215 $ — $ 253,956 Building and other improvements — — — — 913,293 638,709 — 1,552,002 Construction in progress (27 ) — — (27 ) 68,408 — — 68,408 Total (27 ) — — (27 ) 1,096,442 777,924 — 1,874,366 Less accumulated depreciation — — — — (106,941 ) (165,261 ) — (272,202 ) Net investment properties (27 ) — — (27 ) 989,501 612,663 — 1,602,164 Investment in unconsolidated entities — — — — 4,195 — — 4,195 Accounts and rents receivable (net of allowance of $0 and $230) — — — — 2,596 11,785 — 14,381 Intangible assets, net — — — — 3,131 12,101 — 15,232 Deferred costs and other assets (a) 53 (3 ) 421 471 7,236 3,552 3,118 13,906 Total assets $ 26 $ (3 ) $ 421 $ 444 $ 1,006,659 $ 640,101 $ 3,118 $ 1,649,878 Liabilities Debt — — — — 371,450 404,056 — 775,506 Accounts payable and accrued expenses (b) 214 — — 214 19,170 26,076 — 45,246 Intangible liabilities, net — — — — — 4,668 — 4,668 Other liabilities (c) $ 218 $ (9 ) $ (56 ) $ 153 7,855 1,519 21 9,395 Total liabilities $ 432 $ (9 ) $ (56 ) $ 367 $ 398,475 $ 436,319 $ 21 $ 834,815 (a) Deferred costs and other assets at September 30, 2016 primarily include receivables from Xenia related to taxes. (b) Accounts payable and accrued expenses at September 30, 2016 primarily include accrued costs related to the student housing platform sale. (c) Other liabilities at September 30, 2016 primarily includes liabilities related to the student housing platform sale.
Summary of Components of Discontinued Operations	Three months ended Nine months ended September 30, September 30, 2016 2015 2016 2015 Revenues $ 854 $ 46,538 $ 85,149 $ 203,435 Less: Depreciation and amortization expense 188 15,258 30,018 56,400 Other expenses 1,137 17,950 34,577 99,713 Provision for asset impairment — — 76,583 — Operating (loss) income from discontinued operations $ (471 ) $ 13,330 $ (56,029 ) $ 47,322 Interest expense, income taxes, and other miscellaneous income (311 ) (8,358 ) (14,766 ) (26,262 ) Equity in earnings of unconsolidated entity — 48 (19 ) 79 Gain on sale of investment in unconsolidated entity — — 1,434 — Gain on sale of properties, net 10,494 — 235,780 — Loss on extinguishment of debt (617 ) — (2,826 ) — Net income from discontinued operations $ 9,095 $ 5,020 $ 163,574 $ 21,139 Less net income attributable to non-controlling interests — (8 ) — (16 ) Net income from discontinued operations attributable to Company $ 9,095 $ 5,012 $ 163,574 $ 21,123 Revenues of discontinued operations, per weighted average number of common shares outstanding, basic and diluted $ — $ 0.05 $ 0.10 $ 0.24 Net income from discontinued operations, per weighted average number of common shares outstanding, basic and diluted $ 0.01 $ 0.01 $ 0.19 $ 0.02 Weighted average number of common shares outstanding, basic and diluted 862,212,317 861,824,777 862,207,903 861,824,777

Investment in Partially Owned23

Investment in Partially Owned Entities (Tables)	9 Months Ended
	Sep. 30, 2016
Investment in Partially Owned Entities [Abstract]
Schedule of Net Equity Investment and Share of Net Income or Loss	Under the equity method of accounting, the net equity investment of the Company and the Company's share of net income or loss from the unconsolidated entity are reflected in the consolidated balance sheets and the consolidated statements of operations and comprehensive income (loss). Carrying Value of Investment at Entity Description Ownership % September 30, 2016 December 31, 2015 IAGM Retail Fund I, LLC Retail shopping centers 55% $ 127,244 $ 131,362 Downtown Railyard Venture, LLC Land development (a) 50,979 45,081 Other unconsolidated entities Various real estate investments Various 1,195 1,873 $ 179,418 $ 178,316 (a) On September 30, 2015, the Company was admitted as a member to Downtown Railyard Venture, LLC ("DRV"), which is a joint venture established in order to develop and sell a land development. Simultaneously, the Company structured and closed the sale of a non-core land development to DRV, which for accounting purposes is treated as a contribution of the land development to DRV in exchange for an equity interest of $46,174 in DRV (the foregoing transaction is referred to as the "Railyards Transaction"). The Company recorded a loss of $12,919 on the Railyards Transaction during the three and nine months ended September 30, 2015 due to the difference between the carrying value of the land and the fair value of the equity interest. The Company's ownership percentage in DRV is based upon a waterfall calculation outlined in the operating agreement.
Schedule of Combined Financial Information of Investment in Unconsolidated Entities	The following tables present the combined condensed financial information for the Company's investment in unconsolidated entities. As of September 30, 2016 December 31, 2015 Assets: Real estate assets, net of accumulated depreciation $ 638,526 $ 645,305 Other assets 88,519 99,165 Total assets $ 727,045 $ 744,470 Liabilities and equity: Mortgage debt 311,329 314,202 Other liabilities 69,054 78,617 Equity 346,662 351,651 Total liabilities and equity $ 727,045 $ 744,470 Company's share of equity $ 192,982 $ 192,311 Net excess of the net book value of underlying assets over the cost of investments (net of accumulated amortization of $2,061 and $1,630, respectively) (13,564 ) (13,995 ) Carrying value of investments in unconsolidated entities $ 179,418 $ 178,316 Three months ended Nine months ended September 30, September 30, 2016 2015 2016 2015 Revenues $ 15,420 $ 16,618 $ 52,554 $ 84,326 Expenses: Interest expense and loan cost amortization 3,334 5,174 9,972 12,814 Depreciation and amortization 6,325 4,679 20,992 16,961 Operating expenses, ground rent and general and administrative expenses 4,398 5,628 15,064 15,542 Total expenses 14,057 15,481 46,028 45,317 Net income $ 1,363 $ 1,137 $ 6,526 $ 39,009 Company's share of net (loss) income, net of excess basis depreciation of $130, $130, $390 and $390, respectively $ (152 ) $ 746 $ 3,107 $ 15,631 Distributions from unconsolidated entities in equity in earnings in excess of the investments' carrying value 4,001 4,564 4,632 17,631 Equity in earnings of unconsolidated entities $ 3,849 $ 5,310 $ 7,739 $ 33,262
Schedule of Debt Maturities of the Unconsolidated Entities	The unconsolidated entities had total third party debt of $311,329 at September 30, 2016 that matures as follows: Maturities during the year ended December 31, Amount 2016 $ — 2017 — 2018 203,832 2019 16,246 2020 — Thereafter 91,251 $ 311,329

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2016
Notes and Loans Payable [Abstract]
Schedule Of Maturities For Outstanding Mortgage Indebtedness	As of September 30, 2016 , scheduled maturities for the Company's outstanding mortgage indebtedness had various due dates through June 2037 , as follows: Maturity Date As of September 30, 2016 Weighted average interest rate 2016 $ 25,186 6.06% 2017 185,934 5.57% 2018 59,575 4.25% 2019 — —% 2020 — —% Thereafter 237,337 4.53% Total $ 508,032 4.95%

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2016
Fair Value Disclosures [Abstract]
Quantitative Disclosure of The Fair Value For Each Major Category Of Assets And Liabilities	For assets and liabilities measured at fair value on a recurring basis, quantitative disclosure of the fair value for each major category of assets and liabilities is presented below: Fair Value Measurements at September 30, 2016 Using Quoted Prices in Active Markets for Identical Assets Using Significant Using Significant (Level 1) (Level 2) (Level 3) Available-for-sale real estate equity securities $ 180,249 $ — $ — Real estate related bonds — 1,630 — Total assets $ 180,249 $ 1,630 $ — Derivative interest rate instruments — (2,272 ) — Total liabilities $ — $ (2,272 ) $ — Fair Value Measurements at December 31, 2015 Using Quoted Prices in Active Markets for Identical Assets Using Significant Other Observable Inputs Using Significant Other Unobservable Inputs (Level 1) (Level 2) (Level 3) Available-for-sale real estate equity securities $ 175,127 $ — $ — Real estate related bonds — 2,304 — Total assets $ 175,127 $ 2,304 $ — Derivative interest rate instruments — (1,941 ) — Total liabilities $ — $ (1,941 ) $ —
Assets Measured at Fair Value on Non-Recurring Basis	The following table summarizes activity for the Company’s assets measured at fair value on a nonrecurring basis. The Company recognized certain impairment charges to reflect the investments at their fair values for the three and nine months ended September 30, 2016 and 2015 . The asset groups that were reflected at fair value through this evaluation are: For the three months ended September 30, 2016 September 30, 2015 Fair Value Measurements Using Significant Unobservable Inputs Total Fair Value Measurements Using Significant Unobservable Inputs Total Investment properties, continuing operations $ 27,170 $ 2,818 $ 59,092 $ 92,167 Investment properties, discontinued operations — — — — Total $ 27,170 $ 2,818 $ 59,092 $ 92,167 For the nine months ended September 30, 2016 September 30, 2015 Fair Value Measurements Using Significant Unobservable Inputs Total Fair Value Measurements Using Significant Unobservable Inputs Total Investment properties, continuing operations $ 108,470 $ 41,139 $ 59,092 $ 92,167 Investment properties, discontinued operations 542,208 76,583 — — Total $ 650,678 $ 117,722 $ 59,092 $ 92,167
Fair Value of Financial Instruments Presented at Carrying Values	The table below represents the fair value of financial instruments presented at carrying values in the Company's consolidated financial statements as of September 30, 2016 and December 31, 2015 . September 30, 2016 December 31, 2015 Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value Mortgages payable $ 508,032 $ 511,820 $ 1,774,221 $ 1,789,464 Line of credit and term loan $ 150,000 $ 150,000 $ 110,000 $ 110,000

Earnings per Share (Tables)

Earnings per Share (Tables)	9 Months Ended
	Sep. 30, 2016
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following table reconciles the amounts used in calculating basic and diluted income per share (in thousands, except weighted average share and per share amounts): Three months ended Nine months ended September 30, September 30, 2016 2015 2016 2015 Net income (loss) from continuing operations $ 28,224 $ (100,659 ) $ 62,853 $ (48,880 ) Less: Dividends declared on common stock (14,550 ) (28,010 ) (70,592 ) (110,601 ) Less: Dividends declared on unvested restricted stock units (76 ) — (164 ) — Less: Undistributed income allocated to unvested shares (49 ) (65 ) — (65 ) Undistributed income (loss) $ 13,549 $ (128,734 ) $ (7,903 ) $ (159,546 ) Add: Dividends on common stock 14,550 28,010 70,592 110,601 Distributed and undistributed income (loss) from continuing operations, basic and diluted $ 28,099 $ (100,724 ) $ 62,689 $ (48,945 ) Income from discontinued operations allocated to common stockholders $ 9,095 $ 5,012 $ 163,574 $ 21,123 Weighted average shares outstanding, basic and diluted 862,212,317 861,824,777 862,207,903 861,824,777 Income (loss) from continuing operations allocated to common shareholders per share $ 0.03 $ (0.12 ) $ 0.07 $ (0.06 ) Income from discontinued operations allocated to common shareholders per share $ 0.01 $ 0.01 $ 0.19 $ 0.02

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Share-based Compensation, Restricted Stock Units Award Activity	A summary of the Company's restricted stock unit activity as of September 30, 2016 is as follows: Number of Restricted Stock Units Weighted Average Price at Grant Date Outstanding at January 1, 2016 951,555 $4.00 Restricted stock units granted 2,334,226 3.14 Restricted stock units vested, granted in 2015 (8,489 ) 4.00 Restricted stock units vested, granted in 2016 (9,969 ) 3.14 Restricted stock units forfeited, granted in 2015 (179,608 ) 4.00 Restricted stock units forfeited, granted in 2016 (258,172 ) 3.14 Outstanding at September 30, 2016 2,829,543 $3.37

Organization (Details)

Organization (Details) $ in Thousands	Jun. 21, 2016USD ($)	Apr. 28, 2016PropertyProperties	Jan. 03, 2016USD ($)	Feb. 03, 2015	Sep. 30, 2016USD ($)ft²PropertyProperties	Jun. 30, 2016Properties	Sep. 30, 2016USD ($)ft²PropertyProperties	Sep. 30, 2015USD ($)Properties	Dec. 31, 2015Properties
Entity Information [Line Items]
Number of real estate properties					74		74	142	129
Gross disposition price | $							$ 1,887,550	$ 53,275
Retail [Member]
Entity Information [Line Items]
Number of real estate properties					73		73
Square Footage | ft²					12,159,788		12,159,788
Student Housing [Member]
Entity Information [Line Items]
Number of disposed assets | Property					1		1
Gross disposition price | $			$ 1,410,000		$ 33,350		$ 33,350
Proceeds from divestiture of businesses | $	$ 845,000
Escrow related to post-closing obligations | $	9,900
Escrow held pending completion of a development project | $	$ 8,000
Non-core [Member]
Entity Information [Line Items]
Number of real estate properties					1		1
Square Footage | ft²					322,326		322,326
Highlands Spin-off [Member]
Entity Information [Line Items]
Percent of outstanding shares of common stock included in spin-off (percent)		100.00%
Xenia Hotels and Resorts, Inc. [Member]
Entity Information [Line Items]
Percent of outstanding shares of common stock included in spin-off (percent)				95.00%
Discontinued Operations, Disposed of by Means Other than Sale, Spinoff [Member] | Highlands Spin-off [Member]
Entity Information [Line Items]
Number of real estate properties		18			18		18
Discontinued Operations, Disposed of by Means Other than Sale, Spinoff [Member] | Xenia Hotels and Resorts, Inc. [Member]
Entity Information [Line Items]
Number of real estate properties					46		46
Discontinued Operations, Disposed of by Means Other than Sale, Spinoff [Member] | Student Housing Platform Sale [Member]
Entity Information [Line Items]
Number of real estate properties					17		17
Correctional Facility [Member] | Highlands Spin-off [Member]
Entity Information [Line Items]
Number of real estate properties | Property		2
Single and Multi-Tenant Office Building [Member] | Highlands Spin-off [Member]
Entity Information [Line Items]
Number of real estate properties | Property		7
Industrial Asset [Member] | Highlands Spin-off [Member]
Entity Information [Line Items]
Number of real estate properties | Property		2
Retail [Member]
Entity Information [Line Items]
Number of disposed assets | Property							24
Square Footage | ft²					3,098,800		3,098,800
Gross disposition price | $							$ 442,900
Retail [Member] | Highlands Spin-off [Member]
Entity Information [Line Items]
Number of real estate properties | Property		6
Land [Member] | Highlands Spin-off [Member]
Entity Information [Line Items]
Number of real estate properties | Property		4
Land [Member] | Discontinued Operations, Disposed of by Means Other than Sale, Spinoff [Member] | Highlands Spin-off [Member]
Entity Information [Line Items]
Number of real estate properties		4
Bank Branch [Member] | Highlands Spin-off [Member]
Entity Information [Line Items]
Number of real estate properties | Property		1
Non-core [Member]
Entity Information [Line Items]
Number of disposed assets								4
Non-core [Member] | Discontinued Operations, Disposed of by Means Other than Sale, Spinoff [Member]
Entity Information [Line Items]
Number of real estate properties					1		1
Number of disposed assets						1	1
Gross disposition price | $							$ 1,300

Basis of Presentation and Sum29

Basis of Presentation and Summary of Significant Accounting Policies (Details) $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2016USD ($)PropertyProperties	Jun. 30, 2016Properties	Sep. 30, 2015USD ($)Properties	Sep. 30, 2016USD ($)PropertyProperties	Sep. 30, 2015USD ($)Properties	Apr. 28, 2016PropertyProperties	Dec. 31, 2015USD ($)Properties
Debt Instrument [Line Items]
Number of real estate properties	74		142	74	142		129
Debt Issuance Cost | $	$ 4,014			$ 4,014			$ 8,496
General and Administrative Expense [Member] | Restatement Adjustment [Member]
Debt Instrument [Line Items]
Salaries, Benefits and Overhead Costs | $			$ 1,824		$ 4,396
Other Property Income [Member] | Restatement Adjustment [Member]
Debt Instrument [Line Items]
Specialty Leasing Income | $			$ 626		$ 1,141
Discontinued Operations, Disposed of by Means Other than Sale, Spinoff [Member] | Student Housing Platform Sale [Member]
Debt Instrument [Line Items]
Number of real estate properties	17			17
Discontinued Operations, Disposed of by Means Other than Sale, Spinoff [Member] | Highlands Spin-off [Member]
Debt Instrument [Line Items]
Number of real estate properties	18			18		18
Discontinued Operations, Disposed of by Means Other than Sale, Spinoff [Member] | Xenia Hotels and Resorts, Inc. [Member]
Debt Instrument [Line Items]
Number of real estate properties	46			46
Non-core [Member]
Debt Instrument [Line Items]
Number of disposed assets					4
Non-core [Member] | Discontinued Operations, Disposed of by Means Other than Sale, Spinoff [Member]
Debt Instrument [Line Items]
Number of real estate properties	1			1
Number of disposed assets		1		1
Land [Member] | Highlands Spin-off [Member]
Debt Instrument [Line Items]
Number of real estate properties | Property						4
Land [Member] | Discontinued Operations, Disposed of by Means Other than Sale, Spinoff [Member] | Highlands Spin-off [Member]
Debt Instrument [Line Items]
Number of real estate properties						4
Student Housing [Member]
Debt Instrument [Line Items]
Number of disposed assets | Property	1			1

Acquired Properties (Details)

Acquired Properties (Details) $ in Thousands	Aug. 25, 2016USD ($)ft²	Aug. 23, 2016USD ($)ft²	Jul. 12, 2016USD ($)ft²	Apr. 15, 2016USD ($)ft²	Apr. 01, 2016USD ($)ft²	May 12, 2015USD ($)ft²	Apr. 27, 2015USD ($)	Apr. 10, 2015USD ($)ft²	Sep. 30, 2016USD ($)Propertiesft²	Sep. 30, 2015USD ($)Properties
Acquired Properties Textual Details [Line Items]
Number of businesses acquired | Properties									6
Gross Acquisition Price										$ 103,000
Assumption of mortgage debt upon acquisition of investment property									$ 16,000	$ 0
Retail [Member]
Acquired Properties Textual Details [Line Items]
Number of businesses acquired | Properties									6	2
Gross Acquisition Price									$ 401,600
Square Footage | ft²									1,346,000
Student Housing [Member]
Acquired Properties Textual Details [Line Items]
Number of businesses acquired | Properties										1
Shops at Galleria Houston, TX [Member] | Retail [Member]
Acquired Properties Textual Details [Line Items]
Gross Acquisition Price					$ 132,000
Square Footage | ft²					538,000
Renaissance Center Durham, NC [Member] | Retail [Member]
Acquired Properties Textual Details [Line Items]
Gross Acquisition Price					$ 129,200
Square Footage | ft²					363,000
Stevenson Ranch, Stevenson Ranch, CA [Member] | Retail [Member]
Acquired Properties Textual Details [Line Items]
Gross Acquisition Price				$ 72,500
Square Footage | ft²				187,000
Pointe at Creedmoor, Raleigh, North Carolina [Member] | Retail [Member]
Acquired Properties Textual Details [Line Items]
Gross Acquisition Price			$ 17,000
Square Footage | ft²			60,000
Winward Commons [Member] | Retail [Member]
Acquired Properties Textual Details [Line Items]
Gross Acquisition Price		$ 27,600
Square Footage | ft²		117,000
The Shops at Walnut Creek [Member] | Retail [Member]
Acquired Properties Textual Details [Line Items]
Gross Acquisition Price								$ 57,100
Square Footage | ft²								216,334
Westpark Shopping Center [Member] | Retail [Member]
Acquired Properties Textual Details [Line Items]
Gross Acquisition Price						$ 33,400
Square Footage | ft²						176,935
Bishops Landing [Member] | Student Housing [Member]
Acquired Properties Textual Details [Line Items]
Gross Acquisition Price							$ 12,500
Old Grove Marketplace [Member] | Retail [Member]
Acquired Properties Textual Details [Line Items]
Gross Acquisition Price	$ 23,300
Square Footage | ft²	81,000

Acquired Properties - Assets Ac

Acquired Properties - Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Sep. 30, 2015
Business Combinations [Abstract]
Land	$ 141,215	$ 17,594
Building and other improvements	239,149	70,138
Construction in progress		12,500
Total investment properties	380,364	100,232
Intangible assets	37,453
Intangible liabilities	(16,477)
Net other assets and liabilities	260	2,768
Total fair value of assets acquired and liabilities assumed	$ 401,600	$ 103,000

Acquired Properties Pro Forma I

Acquired Properties Pro Forma Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Business Combinations [Abstract]
Total income	$ 61,236	$ 71,545	$ 192,581	$ 212,743
Net income (loss) from continuing operations	$ 29,818	$ (101,140)	$ 65,667	$ (50,491)

Acquired Properties - Propertie

Acquired Properties - Properties Placed in Service (Details) - Student Housing [Member] $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2015USD ($)Property	Sep. 30, 2015USD ($)Property
Property, Plant and Equipment [Line Items]
Number of properties placed in service | Property	2	2
Land	$ 17,745	$ 17,745
Building and other improvements	130,767	130,767
Total fixed assets placed in service	$ 148,512	$ 148,512

Acquired Properties - Additiona

Acquired Properties - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Business Acquisition [Line Items]
Revenue not included in related expensed acquisition costs	$ 8,025	$ 2,208	$ 14,804	$ 3,855
Property net income not included in related expensed acquisition costs	5,833	1,460	10,920	2,619
Continuing Operations [Member] | General and Administrative Expense [Member]
Business Acquisition [Line Items]
Acquisition and transaction costs	$ 239	$ 116	$ 1,009	$ 487

Disposed Properties Narrative (

Disposed Properties Narrative (Details)	Jun. 21, 2016USD ($)	Jan. 03, 2016USD ($)	Sep. 30, 2016USD ($)PropertyProperties	Jun. 30, 2016Properties	Sep. 30, 2015USD ($)Properties	Sep. 30, 2016USD ($)PropertyProperties	Sep. 30, 2015USD ($)Properties	Apr. 28, 2016PropertyProperties	Dec. 31, 2015Properties
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain on sale of properties, net			$ 10,494,000		$ 0	$ 235,780,000	$ 0
Gross disposition price						1,887,550,000	53,275,000
Proceeds from sale of investment properties, net						1,533,492,000	53,989,000
Gain on sale of investment properties			$ 29,586,000		$ 729,000	$ 105,998,000	$ 7,957,000
Number of real estate properties | Properties			74		142	74	142		129
Provision for asset impairment			$ 0		$ 0	$ 76,583,000	$ 0
Discontinued Operations, Disposed of by Means Other than Sale, Spinoff [Member] | Xenia Spin-off [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of real estate properties | Properties			46			46
Discontinued Operations, Disposed of by Means Other than Sale, Spinoff [Member] | Highlands Spin-off [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of real estate properties | Properties			18			18		18
Discontinued Operations, Disposed of by Means Other than Sale, Spinoff [Member] | Student Housing Platform Sale [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of real estate properties | Properties			17			17
Retail [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of disposed assets | Property						24
Gross disposition price						$ 442,900,000
Retail [Member] | Highlands Spin-off [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of real estate properties | Property								6
Land [Member] | Raleigh Hillsborough Raleigh, NC [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of disposed assets | Properties							1
Land [Member] | Highlands Spin-off [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of real estate properties | Property								4
Land [Member] | Discontinued Operations, Disposed of by Means Other than Sale, Spinoff [Member] | Highlands Spin-off [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of real estate properties | Properties								4
Non-core [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of disposed assets | Properties							4
Non-core [Member] | Discontinued Operations, Disposed of by Means Other than Sale, Spinoff [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of disposed assets | Properties				1		1
Gross disposition price						$ 1,300,000
Gain on sale of investment properties						$ 117,000
Number of real estate properties | Properties			1			1
Student Housing [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Escrow held pending completion of a development project	$ 8,000,000
Number of disposed assets | Property			1			1
Gross disposition price		$ 1,410,000,000	$ 33,350,000			$ 33,350,000
Proceeds from divestiture of businesses	845,000,000
Escrow related to post-closing obligations	$ 9,900,000
Net Income from Discontinued Operations [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain on sale of investment in unconsolidated entities						$ 1,434,000

Disposed Properties (Details 1)

Disposed Properties (Details 1)	3 Months Ended		9 Months Ended
	Sep. 30, 2016USD ($)Properties$ / sharesshares	Sep. 30, 2015USD ($)Properties$ / sharesshares	Sep. 30, 2016USD ($)Properties$ / sharesshares	Sep. 30, 2015USD ($)Properties$ / sharesshares	Dec. 31, 2015USD ($)Properties
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gross disposition price			$ 1,887,550,000	$ 53,275,000
Assets
Investment properties, gross	$ (27,000)		(27,000)		$ 1,874,366,000
Less accumulated depreciation	0		0		(272,202,000)
Net investment properties	(27,000)		(27,000)		1,602,164,000
Investment in unconsolidated entities	0		0		4,195,000
Accounts and rents receivable (net of allowance of $0 and $230)	0		0		14,381,000
Intangible assets, net	0		0		15,232,000
Deferred costs and other assets	471,000		471,000		13,906,000
Total assets	444,000		444,000		1,649,878,000
Liabilities
Debt	0		0		775,506,000
Accounts payable and accrued expenses	214,000		214,000		45,246,000
Intangible liabilities, net	0		0		4,668,000
Other liabilities	153,000		153,000		9,395,000
Total liabilities	367,000		367,000		$ 834,815,000
Summary of components of discontinued operations
Revenues	854,000	$ 46,538,000	85,149,000	203,435,000
Depreciation and amortization expense	188,000	15,258,000	30,018,000	56,400,000
Other expenses	1,137,000	17,950,000	34,577,000	99,713,000
Provision for asset impairment	0	0	76,583,000	0
Operating (loss) income from discontinued operations	(471,000)	13,330,000	(56,029,000)	47,322,000
Interest expense, income taxes, and other miscellaneous income	(311,000)	(8,358,000)	(14,766,000)	(26,262,000)
Equity in earnings of unconsolidated entity	0	48,000	(19,000)	79,000
Gain on sale of investment in unconsolidated entity	0	0	1,434,000	0
Gain on sale of properties, net	10,494,000	0	235,780,000	0
Loss on extinguishment of debt	(617,000)	0	(2,826,000)	0
Net income from discontinued operations	9,095,000	5,020,000	163,574,000	21,139,000
Less net income attributable to non-controlling interests	0	(8,000)	0	(16,000)
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent	$ 9,095,000	$ 5,012,000	$ 163,574,000	$ 21,123,000
Revenues of discontinued operations, per weighted average number of common shares outstanding, basic (in dollars per share) | $ / shares	$ 0	$ 0.05	$ 0.10	$ 0.24
Net income from discontinued operations, per weighted average number of common shares outstanding, basic (in dollars per share) | $ / shares	$ 0.01	$ 0.01	$ 0.19	$ 0.02
Weighted average number of common shares outstanding, basic and diluted (shares) | shares	862,212,317	861,824,777	862,207,903	861,824,777
Cash Flow Information
Number of real estate properties | Properties	74	142	74	142	129
Highlands Spin-off and other non-core [Member]
Assets
Investment properties, gross	$ 0		$ 0		$ 777,924,000
Less accumulated depreciation	0		0		(165,261,000)
Net investment properties	0		0		612,663,000
Investment in unconsolidated entities	0		0		0
Accounts and rents receivable (net of allowance of $0 and $230)	0		0		11,785,000
Intangible assets, net	0		0		12,101,000
Deferred costs and other assets	(3,000)		(3,000)		3,552,000
Total assets	(3,000)		(3,000)		640,101,000
Liabilities
Debt	0		0		404,056,000
Accounts payable and accrued expenses	0		0		26,076,000
Intangible liabilities, net	0		0		4,668,000
Other liabilities	(9,000)		(9,000)		1,519,000
Total liabilities	(9,000)		(9,000)		436,319,000
Cash Flow Information
Net cash used in operating activities			(893,000)	$ 45,454,000
Net cash used in investing activities			(3,217,000)	(3,070,000)
Xenia Hotels and Resorts, Inc. [Member]
Assets
Investment properties, gross	0		0		0
Less accumulated depreciation	0		0		0
Net investment properties	0		0		0
Investment in unconsolidated entities	0		0		0
Accounts and rents receivable (net of allowance of $0 and $230)	0		0		0
Intangible assets, net	0		0		0
Deferred costs and other assets	421,000		421,000		3,118,000
Total assets	421,000		421,000		3,118,000
Allowance for doubtful accounts	0		0		230,000
Liabilities
Debt	0		0		0
Accounts payable and accrued expenses	0		0		0
Intangible liabilities, net	0		0		0
Other liabilities	(56,000)		(56,000)		21,000
Total liabilities	(56,000)		(56,000)		21,000
Cash Flow Information
Net cash used in operating activities			(74,000)	(6,712,000)
Net cash used in investing activities			2,697,000	(4,344,000)
Student Housing Platform Sale [Member]
Assets
Investment properties, gross	(27,000)		(27,000)		1,096,442,000
Less accumulated depreciation	0		0		(106,941,000)
Net investment properties	(27,000)		(27,000)		989,501,000
Investment in unconsolidated entities	0		0		4,195,000
Accounts and rents receivable (net of allowance of $0 and $230)	0		0		2,596,000
Intangible assets, net	0		0		3,131,000
Deferred costs and other assets	53,000		53,000		7,236,000
Total assets	26,000		26,000		1,006,659,000
Liabilities
Debt	0		0		371,450,000
Accounts payable and accrued expenses	214,000		214,000		19,170,000
Intangible liabilities, net	0		0		0
Other liabilities	218,000		218,000		7,855,000
Total liabilities	432,000		432,000		398,475,000
Cash Flow Information
Net cash used in operating activities			19,688,000	24,638,000
Net cash used in investing activities			1,229,912,000	(106,292,000)
Land [Member]
Assets
Investment properties, gross	0		0		253,956,000
Land [Member] | Highlands Spin-off and other non-core [Member]
Assets
Investment properties, gross	0		0		139,215,000
Land [Member] | Xenia Hotels and Resorts, Inc. [Member]
Assets
Investment properties, gross	0		0		0
Land [Member] | Student Housing Platform Sale [Member]
Assets
Investment properties, gross	0		0		114,741,000
Building and other improvements [Member]
Assets
Investment properties, gross	0		0		1,552,002,000
Building and other improvements [Member] | Highlands Spin-off and other non-core [Member]
Assets
Investment properties, gross	0		0		638,709,000
Building and other improvements [Member] | Xenia Hotels and Resorts, Inc. [Member]
Assets
Investment properties, gross	0		0		0
Building and other improvements [Member] | Student Housing Platform Sale [Member]
Assets
Investment properties, gross	0		0		913,293,000
Construction in progress [Member]
Assets
Investment properties, gross	(27,000)		(27,000)		68,408,000
Construction in progress [Member] | Highlands Spin-off and other non-core [Member]
Assets
Investment properties, gross	0		0		0
Construction in progress [Member] | Xenia Hotels and Resorts, Inc. [Member]
Assets
Investment properties, gross	0		0		0
Construction in progress [Member] | Student Housing Platform Sale [Member]
Assets
Investment properties, gross	(27,000)		(27,000)		68,408,000
Co-venturer [Member] | 15th & Walnut Owner, LLC [Member]
Assets
Net investment properties	0		0		17,944,000
Deferred costs and other assets	0		0		730,000
Total assets	0		0		18,674,000
Liabilities
Debt	0		0		11,620,000
Other liabilities	0		0		1,025,000
Equity	0		0		6,029,000
Total liabilities and equity	0		0		18,674,000
Company’s share of equity	0		0		4,195,000
Net excess of the net book value of underlying assets over the cost of investments	0		0		0
Carrying value of investments in unconsolidated entities	0		0		$ 4,195,000
Summary of components of discontinued operations
Revenues	0	$ 502,000	305,000	1,510,000
Interest expense and loan cost amortization	0	83,000	58,000	261,000
Depreciation and amortization expense	0	170,000	113,000	504,000
Operating expenses, ground rent and general and administrative expenses	0	171,000	164,000	617,000
Total expenses	0	424,000	335,000	1,382,000
Net income from discontinued operations	0	78,000	(30,000)	128,000
Company's equity in earnings (loss) of the Eugene unconsolidated entity	$ 0	$ 48,000	$ (19,000)	$ 79,000

Disposed Properties (Details 2)

Disposed Properties (Details 2) $ in Thousands	9 Months Ended
	Sep. 30, 2016USD ($)ft²	Sep. 30, 2015USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gross disposition price	$ 1,887,550	$ 53,275
Retail [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gross disposition price	$ 442,900
Square Footage | ft²	3,098,800
Retail [Member] | Cypress Town Center
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Date	Jan. 7, 2016
Gross disposition price	$ 7,300
Square Footage | ft²	55,000
Retail [Member] | James Center
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Date	Jan. 13, 2016
Gross disposition price	$ 31,400
Square Footage | ft²	140,200
Retail [Member] | Streets of Indian Lake
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Date	Mar. 11, 2016
Gross disposition price	$ 37,000
Square Footage | ft²	254,100
Retail [Member] | Lord Salisbury Center
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Date	Mar. 11, 2016
Gross disposition price	$ 20,800
Square Footage | ft²	113,800
Retail [Member] | Fabyan Randall
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Date	Mar. 25, 2016
Gross disposition price	$ 14,800
Square Footage | ft²	91,400
Retail [Member] | Ward's Crossing
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Date	Apr. 1, 2016
Gross disposition price	$ 16,000
Square Footage | ft²	80,900
Retail [Member] | Bartow Marketplace
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Date	Apr. 8, 2016
Gross disposition price	$ 34,800
Square Footage | ft²	375,000
Retail [Member] | Atascocita Shopping Center
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Date	Apr. 25, 2016
Gross disposition price	$ 8,900
Square Footage | ft²	47,300
Retail [Member] | Southeast Grocery Portfolio - 6 properties
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Date	Apr. 29, 2016
Gross disposition price	$ 68,700
Square Footage | ft²	535,300
Retail [Member] | Brandon Centre
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Date	May 2, 2016
Gross disposition price	$ 22,500
Square Footage | ft²	133,300
Retail [Member] | Westport Village
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Date	May 17, 2016
Gross disposition price	$ 23,800
Square Footage | ft²	168,700
Retail [Member] | Gravois Dillon Plaza
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Date	Jun. 8, 2016
Gross disposition price	$ 15,200
Square Footage | ft²	148,100
Retail [Member] | Highland Plaza
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Date	Jun. 30, 2016
Gross disposition price	$ 16,100
Square Footage | ft²	148,100
Retail [Member] | Washington Park Plaza
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Date	Jul. 1, 2016
Gross disposition price	$ 32,000
Square Footage | ft²	235,000
Retail [Member] | Gateway Plaza
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Date	Jul. 8, 2016
Gross disposition price	$ 17,800
Square Footage | ft²	105,000
Retail [Member] | Winchester & Spring Town Centers
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Date	Jul. 8, 2016
Gross disposition price	$ 29,900
Square Footage | ft²	102,000
Retail [Member] | Heritage Crossing
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Date	Aug. 16, 2016
Gross disposition price	$ 34,900
Square Footage | ft²	311,000
Retail [Member] | Paradise Shops of Largo
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Date	Sep. 29, 2016
Gross disposition price	$ 11,000
Square Footage | ft²	54,600

Investment in Partially Owned38

Investment in Partially Owned Entities (Details 1) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Schedule of net equity investment and share of net income or loss
Investment	$ 179,418		$ 179,418		$ 178,316
Loss on Railyards Transaction	$ 3,849	$ 5,310	$ 7,739	$ 33,262
IAGM Retail Fund I, LLC [Member]
Schedule of net equity investment and share of net income or loss
Description			Retail shopping centers
Ownership %	55.00%		55.00%
Investment	$ 127,244		$ 127,244		131,362
Downtown Railyard Venture, LLC [Member]
Schedule of net equity investment and share of net income or loss
Description			Land development
Investment	50,979	46,174	$ 50,979	46,174	45,081
Loss on Railyards Transaction		$ (12,919)		$ (12,919)
Other Unconsolidated Entities [Member]
Schedule of net equity investment and share of net income or loss
Description			Various real estate investments
Investment	$ 1,195		$ 1,195		$ 1,873

Investment in Partially Owned39

Investment in Partially Owned Entities (Details 2) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Schedule of Equity Method Investments [Line Items]
Impairment on unconsolidated entities	$ 0	$ 0		$ 0
Assets
Real estate assets, net of accumulated depreciation	638,526,000		$ 638,526,000		$ 645,305,000
Other assets	88,519,000		88,519,000		99,165,000
Total assets	727,045,000		727,045,000		744,470,000
Liabilities and Equity
Mortgage debt	311,329,000		311,329,000		314,202,000
Other liabilities	69,054,000		69,054,000		78,617,000
Equity	346,662,000		346,662,000		351,651,000
Total liabilities and equity	727,045,000		727,045,000		744,470,000
Company's share of equity	192,982,000		192,982,000		192,311,000
Net excess of the net book value of underlying assets over the cost of investments (net of accumulated amortization of $2,061 and $1,630, respectively)	(13,564,000)		(13,564,000)		(13,995,000)
Carrying value of investments in unconsolidated entities	179,418,000		179,418,000		178,316,000
Statements of Operations:
Revenues	15,420,000	16,618,000	52,554,000	84,326,000
Expenses
Interest expense and loan cost amortization	3,334,000	5,174,000	9,972,000	12,814,000
Depreciation and amortization	6,325,000	4,679,000	20,992,000	16,961,000
Operating expenses, ground rent and general and administrative expenses	4,398,000	5,628,000	15,064,000	15,542,000
Total expenses	14,057,000	15,481,000	46,028,000	45,317,000
Net income	1,363,000	1,137,000	6,526,000	39,009,000
Company’s share of:
Distributions in excess of the carrying value of the investment	4,001,000	4,564,000	4,632,000	17,631,000
Equity in earnings of unconsolidated entities	3,849,000	5,310,000	7,739,000	33,262,000
Accumulated Depreciation of Investments over Book Value	2,061,000		2,061,000		$ 1,630,000
Distributions from Equity Method Investments [Member]
Company’s share of:
Equity in earnings of unconsolidated entities	(152,000)	746,000	3,107,000	15,631,000
Unconsolidated Entities [Member]
Company’s share of:
Depreciation	$ 130,000	$ 130,000	390,000	$ 390,000
Net Income from Discontinued Operations [Member]
Schedule of Equity Method Investments [Line Items]
Gain on sale of investment in unconsolidated entities			$ 1,434,000

Investment in Partially Owned40

Investment in Partially Owned Entities (Details 3) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Schedule of Debt Maturities of the Unconsolidated Entities
Mortgage debt	$ 311,329	$ 314,202
Recourse Debt	3,550
Unconsolidated Entities [Member]
Schedule of Debt Maturities of the Unconsolidated Entities
2,016	0
2,017	0
2,018	203,832
2,019	16,246
2,020	0
Thereafter	91,251
the Company [Member]
Schedule of Debt Maturities of the Unconsolidated Entities
Recourse Debt	$ 23,000

Investment in Marketable Secu41

Investment in Marketable Securities (Details) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Investment in Marketable Securities (Textual) [Abstract]
Investment in marketable securities	$ 181,879,000		$ 181,879,000		$ 177,431,000
Impairment on securities included as a component of realized gain (loss)	136,029,000		136,029,000		138,318,000
Net accumulated other comprehensive income			45,850,000		39,113,000
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value	2,977,000		2,977,000		10,712,000
Available-for-sale Securities, Accumulated Gross Unrealized Gain (Loss), before Tax	546,000		546,000		2,242,000
Impairments on available for sale securities	1,327,000	$ 0	1,327,000	$ 0
Dividend Income, Operating	2,650,000	$ 2,390,000	7,950,000	$ 7,853,000
Xenia Hotels and Resorts, Inc. [Member]
Investment in Marketable Securities (Textual) [Abstract]
Investment in marketable securities	86,069,000		86,069,000		86,919,000
Impairment on securities included as a component of realized gain (loss)	$ 80,748,000		$ 80,748,000		$ 80,748,000
Investment Owned, Percent of Net Assets	5.00%		5.00%		5.00%
Available-for-sale Securities, Accumulated Gross Unrealized Gain (Loss), before Tax	$ 5,321,000		$ 5,321,000		$ 6,171,000

Debt (Details)

Debt (Details)	9 Months Ended
	Sep. 30, 2016USD ($)Loans	Sep. 30, 2015USD ($)	Dec. 31, 2015USD ($)
Schedule of maturities for outstanding mortgage indebtedness
2,016	$ 25,186,000
2,017	185,934,000
2,018	59,575,000
2,019	0
2,020	0
Thereafter	237,337,000
Mortgage loans payable	$ 508,032,000		$ 1,774,221,000
Weighted average interest rate	4.95%		4.94%
Debt Instrument, Unamortized Discount (Premium), Net	$ 603,000		$ 5,568,000
Debt Issuance Cost	4,014,000		8,496,000
Assumption of mortgage debt upon acquisition of investment property	16,000,000	$ 0
Recourse Debt	$ 3,550,000
Number of Mortgage Loans on Real Estate in Default | Loans	1
Mortgage Loans on Real Estate, Principal Amount of Loan in Default	$ 3,151,000		2,721,000
2,016
Schedule of maturities for outstanding mortgage indebtedness
Weighted average interest rate	6.06%
2,017
Schedule of maturities for outstanding mortgage indebtedness
Weighted average interest rate	5.57%
2,018
Schedule of maturities for outstanding mortgage indebtedness
Weighted average interest rate	4.25%
2,019
Schedule of maturities for outstanding mortgage indebtedness
Weighted average interest rate	0.00%
2,020
Schedule of maturities for outstanding mortgage indebtedness
Weighted average interest rate	0.00%
Thereafter
Schedule of maturities for outstanding mortgage indebtedness
Weighted average interest rate	4.53%
Discontinued Operations [Member]
Schedule of maturities for outstanding mortgage indebtedness
Mortgage loans payable			778,793,000
Debt Instrument, Unamortized Discount (Premium), Net			0
Debt Issuance Cost			$ 3,287,000

Line of Credit (Details)

Line of Credit (Details)	Feb. 02, 2019	Feb. 03, 2015USD ($)	Sep. 30, 2016USD ($)	Dec. 31, 2015USD ($)	Nov. 05, 2015USD ($)tranche
Line of Credit Facility [Line Items]
Mortgage Loans on Real Estate, Principal Amount of Loan in Default			$ 3,151,000	$ 2,721,000
Wells Fargo, Merrill Lynch, Pierce Fenner & Smith, PNC Capital Markets Credit Facility [Member]
Line of Credit Facility [Line Items]
Line of credit facility, interest rate at period end (percent)			1.82%	1.59%
Line of credit facility, remaining borrowing capacity			$ 150,000,000	$ 190,000,000	$ 300,000,000
Number of tranches in loan credit facility | tranche					2
Unsecured Debt [Member] | KeyBanc Capital Markets and J.P. Morgan Securities LLC [Member]
Line of Credit Facility [Line Items]
Debt instrument, face amount				200,000,000
Revolving Credit Facility [Member] | KeyBanc Capital Markets and J.P. Morgan Securities LLC Amended and Restated [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Initiation Date		Feb. 3, 2015
Extension option on line of credit, period			1 year
Line of Credit Facility, Interest Rate Description			1-month LIBOR plus 1.40%
Line of credit facility, remaining borrowing capacity		$ 300,000,000	$ 300,000,000	$ 300,000,000
Maximum [Member] | Wells Fargo, Merrill Lynch, Pierce Fenner & Smith, PNC Capital Markets Credit Facility [Member]
Line of Credit Facility [Line Items]
Line of credit facility, remaining borrowing capacity					$ 600,000,000
Maximum [Member] | Revolving Credit Facility [Member] | KeyBanc Capital Markets and J.P. Morgan Securities LLC Amended and Restated [Member]
Line of Credit Facility [Line Items]
Line of credit facility, remaining borrowing capacity		$ 600,000,000
Scenario, Forecast [Member] | Revolving Credit Facility [Member] | KeyBanc Capital Markets and J.P. Morgan Securities LLC Amended and Restated [Member]
Line of Credit Facility [Line Items]
Commitment fee	0.15%
Debt Instrument, Maturity Date	Feb. 2, 2019
5-Year Tranche [Member] | Wells Fargo, Merrill Lynch, Pierce Fenner & Smith, PNC Capital Markets Credit Facility [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Interest Rate Description			LIBOR plus 1.30%
7-Year Tranche [Member] | Wells Fargo, Merrill Lynch, Pierce Fenner & Smith, PNC Capital Markets Credit Facility [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Interest Rate Description			1-month LIBOR plus 1.60%
One-Month LIBOR [Member] | Revolving Credit Facility [Member] | KeyBanc Capital Markets and J.P. Morgan Securities LLC Amended and Restated [Member]
Line of Credit Facility [Line Items]
Basis spread on variable interest rate (percent)			1.40%
One-Month LIBOR [Member] | 7-Year Tranche [Member] | Wells Fargo, Merrill Lynch, Pierce Fenner & Smith, PNC Capital Markets Credit Facility [Member]
Line of Credit Facility [Line Items]
Basis spread on variable interest rate (percent)			1.60%
London Interbank Offered Rate (LIBOR) [Member] | 5-Year Tranche [Member] | Wells Fargo, Merrill Lynch, Pierce Fenner & Smith, PNC Capital Markets Credit Facility [Member]
Line of Credit Facility [Line Items]
Basis spread on variable interest rate (percent)			1.30%

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Interest Rate Swap [Member] | Using Significant Other Observable Inputs (Level 2) [Member]
Schedule of Fair Value Assets and Liabilities Measured on Recurring Basis
Notiional value of outstanding interest rate swaps	$ 150,000	$ 157,000
Fair Value, Measurements, Recurring [Member] | Using Quoted Prices In Active Markets For Identical Assets (Level 1) [Member]
Schedule of Fair Value Assets and Liabilities Measured on Recurring Basis
Available-for-sale real estate equity securities	180,249	175,127
Real estate related bonds	0	0
Total assets	180,249	175,127
Derivative interest rate instruments	0	0
Total liabilities	0	0
Fair Value, Measurements, Recurring [Member] | Using Significant Other Observable Inputs (Level 2) [Member]
Schedule of Fair Value Assets and Liabilities Measured on Recurring Basis
Available-for-sale real estate equity securities	0	0
Real estate related bonds	1,630	2,304
Total assets	1,630	2,304
Derivative interest rate instruments	(2,272)	(1,941)
Total liabilities	(2,272)	(1,941)
Fair Value, Measurements, Recurring [Member] | Using Significant Other Unobservable Inputs (Level 3) [Member]
Schedule of Fair Value Assets and Liabilities Measured on Recurring Basis
Available-for-sale real estate equity securities	0	0
Real estate related bonds	0	0
Total assets	0	0
Derivative interest rate instruments	0	0
Total liabilities	$ 0	$ 0

Fair Value Measurements (Deta45

Fair Value Measurements (Details 1) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total impairment losses, investment properties	$ 2,818	$ 92,167	$ 41,139	$ 92,167
Fair Value, Measurements, Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total asset impairment charges	2,818	92,167	117,722	92,167
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total impairment losses	27,170	59,092	650,678	59,092
Continuing Operations [Member] | Fair Value, Measurements, Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total impairment losses, investment properties	2,818	92,167		92,167
Continuing Operations [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value, investment properties	27,170	59,092	108,470	59,092
Discontinued Operations [Member] | Fair Value, Measurements, Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total impairment losses, investment properties	0	0	76,583	0
Discontinued Operations [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value, investment properties	$ 0	$ 0	$ 542,208	$ 0

Fair Value Measurements (Deta46

Fair Value Measurements (Details 2) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Fair Value Disclosures [Abstract]
Mortgages payable	$ 508,032	$ 1,774,221
Estimated fair value, mortgage and notes payable	511,820	1,789,464
Carrying Value Of Line Of Credit	150,000	110,000
Lines of Credit, Fair Value Disclosure	$ 150,000	$ 110,000

Fair Value Measurements (Deta47

Fair Value Measurements (Details Textual)	3 Months Ended		9 Months Ended
	Sep. 30, 2016USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2016USD ($)Property	Sep. 30, 2015USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value inputs, discount rate (percent)			5.10%
Provision for asset impairment	$ 2,818,000	$ 92,167,000	$ 41,139,000	$ 92,167,000
Provision for asset impairment for disposed properties	$ 0	0	$ 76,583,000	0
Continuing Operations [Member] | Minimum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value inputs, capitalization rate (percent)	6.00%		6.00%
Fair value inputs, discount rate (percent)	7.00%		7.00%
Continuing Operations [Member] | Maximum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value inputs, capitalization rate (percent)	7.00%		7.00%
Fair value inputs, discount rate (percent)	8.00%		8.00%
Continuing Operations [Member] | Fair Value, Measurements, Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Provision for asset impairment	$ 2,818,000	92,167,000		92,167,000
Discontinued Operations [Member] | Minimum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value inputs, capitalization rate (percent)			6.75%
Fair value inputs, discount rate (percent)			7.75%
Discontinued Operations [Member] | Maximum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value inputs, capitalization rate (percent)			10.00%
Fair value inputs, discount rate (percent)			15.25%
Discontinued Operations [Member] | Fair Value, Measurements, Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Provision for asset impairment	$ 0	$ 0	$ 76,583,000	$ 0
Non-core [Member] | Continuing Operations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Provision for asset impairment, properties affected | Property			1
Retail [Member] | Continuing Operations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Provision for asset impairment, properties affected | Property			3
Downtown Railyard Venture, LLC [Member] | Continuing Operations [Member] | Fair Value, Measurements, Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value inputs, discount rate (percent)				14.00%

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Income Tax Disclosure [Abstract]
Percentage of taxable income distributed to shareholders			90.00%
Income tax expense	$ 286	$ 1,556	$ 480	$ 2,402
Income tax expense included in net income from discontinued operations	$ 90	$ (1,159)	$ 279	$ 1,030

Earnings per Share and Equity T

Earnings per Share and Equity Transactions Earnings per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Net Income (Loss) Allocated to Common Stockholders [Abstract]
Net income (loss) from continuing operations	$ 28,224	$ (100,659)	$ 62,853	$ (48,880)
Less: Dividends declared on common stock	(14,550)	(28,010)	(70,592)	(110,601)
Less: Dividends declared on unvested restricted stock units	(76)	0	(164)	0
Less: Undistributed income allocated to unvested shares	(49)	(65)	0	(65)
Undistributed income (loss)	13,549	(128,734)	(7,903)	(159,546)
Add: Dividends on common stock	14,550	28,010	70,592	110,601
Distributed and undistributed income (loss) from continuing operations, basic and diluted	28,099	(100,724)	62,689	(48,945)
Income from discontinued operations allocated to common stockholders	$ 9,095	$ 5,012	$ 163,574	$ 21,123
Weighted average shares outstanding, basic and diluted (in shares)	862,212,317	861,824,777	862,207,903	861,824,777
Income (loss) from continuing operations allocated to common shareholders per share (in USD per share)	$ 0.03	$ (0.12)	$ 0.07	$ (0.06)
Income from discontinued operations allocated to common shareholders per share (in dollars per share)	$ 0.01	$ 0.01	$ 0.19	$ 0.02
Accumulated Distributions in excess of Net Loss
Net Income (Loss) Allocated to Common Stockholders [Abstract]
Less: Dividends declared on common stock	$ (14,550)	$ (28,010)	$ (70,592)	$ (110,601)
Add: Dividends on common stock	$ 14,550	$ 28,010	$ 70,592	$ 110,601

Stock-Based Compensation (Detai

Stock-Based Compensation (Details Textual) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016USD ($)shares	Sep. 30, 2015USD ($)	Sep. 30, 2016USD ($)shares	Sep. 30, 2015USD ($)	Dec. 31, 2014stock_based_compensation_plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of stock-based compensation plans (plans) | stock_based_compensation_plan					3
Stock-based compensation expense not yet recognized	$ 7,112		$ 7,112
Student Housing Plan share units granted in period			313	$ 313
Stock-based compensation expense recognized	1,247	$ 1,123	2,583	$ 1,260
2014 Retail Plan [Member] | Plan approved during 2014 [Member] | Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense not yet recognized	7,845		7,845
2014 Student Housing Plan [Member] | Plan approved during 2014 [Member] | Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense not yet recognized	833		833
2014 Student Housing Plan [Member] | Year-to-Date 2016 [Member] | Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense not yet recognized	2,246		2,246
2014 Student Housing Plan [Member] | During the year ended December 31, 2015 [Member] | Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense not yet recognized	$ 1,796		$ 1,796
2015 Incentive Award Plan [Member] | 2015 Incentive Award Plan approved on June 19, 2015 [Member] | Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized | shares	30,000,000		30,000,000
Shares available for future issuance | shares	26,523,304		26,523,304

Stock-Based Compensation (Det51

Stock-Based Compensation (Details) - Restricted Stock Units (RSUs) [Member]	9 Months Ended
	Sep. 30, 2016$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Outstanding at beginning of year (shares) | shares	951,555
Restricted shares granted (shares) | shares	2,334,226
Outstanding at end of year (shares) | shares	2,829,543
Weighted Average Price at Grant, Beginning of year (in dollars per share) | $ / shares	$ 4
Weighted Average Price at Grant, Restricted shares granted (in dollars per share) | $ / shares	3.14
Weighted Average Price at Grant, End of year (in dollars per share) | $ / shares	$ 3.37
Granted in 2015 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Restricted shares vested (shares) | shares	(8,489)
Restricted shares forfeited (shares) | shares	(179,608)
Weighted Average Price at Grant, Restricted shares vested (in dollars per share) | $ / shares	$ 4
Weighted Average Price at Grant, Restricted shares forfeited (in dollars per share) | $ / shares	$ 4
Granted in 2016 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Restricted shares vested (shares) | shares	(9,969)
Restricted shares forfeited (shares) | shares	(258,172)
Weighted Average Price at Grant, Restricted shares vested (in dollars per share) | $ / shares	$ 3.14
Weighted Average Price at Grant, Restricted shares forfeited (in dollars per share) | $ / shares	$ 3.14

Subsequent Events (Details)

Subsequent Events (Details)

Oct. 14, 2016USD ($)ft²

Oct. 06, 2016$ / shares

Nov. 28, 2016$ / shares

Nov. 10, 2016USD ($)ft²Property

Oct. 31, 2016$ / shares

Sep. 30, 2016USD ($)ft²

Sep. 30, 2015USD ($)

Dec. 31, 2016$ / shares

Jun. 30, 2016$ / shares

Sep. 30, 2016USD ($)ft²Property

Sep. 30, 2015USD ($)

Oct. 27, 2016USD ($)

Subsequent Event [Line Items]

Annual distribution, per share (in USD per share) | $ / shares

$ 0.13

Gross acquisition price

$ 103,000,000

Gain on sale of properties, net

$ 10,494,000

$ 0

$ 235,780,000

0

Gross disposition price

$ 1,887,550,000

$ 53,275,000

Subsequent Event [Member]

Subsequent Event [Line Items]

Annual distribution, per share (in USD per share) | $ / shares

$ 0.0675

Adjustment to distribution rate, per share (in USD per share) | $ / shares

$ 0.09875

Quarterly distribution, per share (in USD per share) | $ / shares

$ 0.016875

Gain on sale of properties, net

$ 13,900,000

Retail [Member]

Subsequent Event [Line Items]

Square Footage | ft²

12,159,788

12,159,788

Gross acquisition price

$ 401,600,000

Retail [Member] | Northcross Commons, Huntersville, NC [Member] | Subsequent Event [Member]

Subsequent Event [Line Items]

Square Footage | ft²

63,000

Gross acquisition price

$ 31,000,000

Dutch Auction Self-tender Offer [Member] | Subsequent Event [Member]

Subsequent Event [Line Items]

Amount authorized under Dutch Auction self-tender offer

$ 200,000,000

Scenario, Forecast [Member]

Subsequent Event [Line Items]

Annual distribution, per share (in USD per share) | $ / shares

$ 0.0675

Maximum [Member] | Scenario, Forecast [Member] | Dutch Auction Self-tender Offer [Member]

Subsequent Event [Line Items]

Dutch Auction, price per share (in USD per share) | $ / shares

$ 2.94

Minimum [Member] | Scenario, Forecast [Member] | Dutch Auction Self-tender Offer [Member]

Subsequent Event [Line Items]

Dutch Auction, price per share (in USD per share) | $ / shares

$ 2.45

Retail [Member]

Subsequent Event [Line Items]

Square Footage | ft²

3,098,800

3,098,800

Number of disposed assets | Property

24

Gross disposition price

$ 442,900,000

Retail [Member] | Subsequent Event [Member]

Subsequent Event [Line Items]

Square Footage | ft²

158,000

Number of disposed assets | Property

4

Gross disposition price

$ 36,600,000