Brookfield Property REIT (BPYU) 10-Q 6 Aug 14 2014 Q2 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	6 Months Ended
	Jun. 30, 2014	Aug. 04, 2014
Document and Entity Information	'	'
Entity Registrant Name	'General Growth Properties, Inc.	'
Entity Central Index Key	'0001496048	'
Document Type	'10-Q	'
Document Period End Date	30-Jun-14	'
Amendment Flag	'false	'
Current Fiscal Year End Date	'--12-31	'
Entity Current Reporting Status	'Yes	'
Entity Filer Category	'Large Accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	883,823,589
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q2	'

CONSOLIDATED_BALANCE_SHEETS

CONSOLIDATED BALANCE SHEETS (USD $)	Jun. 30, 2014		Dec. 31, 2013
In Thousands, unless otherwise specified
Investment in real estate:	'		'
Land	$4,297,767		$4,320,597
Buildings and equipment	18,237,236		18,270,748
Less accumulated depreciation	-2,099,755		-1,884,861
Construction in progress	471,791		406,930
Net property and equipment	20,907,039		21,113,414
Investment in and loans to/from Unconsolidated Real Estate Affiliates	2,580,966		2,407,698
Net investment in real estate	23,488,005		23,521,112
Cash and cash equivalents	242,007		577,271
Accounts and notes receivable, net	594,011		478,899
Deferred expenses, net	179,120		189,452
Prepaid expenses and other assets	873,416		995,569
Total assets	25,376,559		25,762,303
Liabilities:	'		'
Mortgages, notes and loans payable	15,909,223	[1]	15,672,437	[1]
Investment in Unconsolidated Real Estate Affiliates	18,416		17,405
Accounts payable and accrued expenses	839,386		970,995
Dividend payable	140,440		134,476
Deferred tax liabilities	28,367		24,667
Tax indemnification liability	321,958		321,958
Junior subordinated notes	206,200		206,200
Total liabilities	17,463,990		17,348,138
Redeemable noncontrolling interests:	'		'
Preferred	145,811		131,881
Common	113,892		97,021
Total redeemable noncontrolling interests	259,703		228,902
Commitments and Contingencies	0		0
Equity:	'		'
Common stock: 11,000,000,000 shares authorized, $0.01 par value, 967,222,315 issued, 883,793,730 outstanding as of June 30, 2014, and 966,998,908 issued, 911,194,605 outstanding as of December 31, 2013	9,398		9,395
Preferred stock: 500,000,000 shares authorized, $.01 par value, 10,000,000 shares issued and outstanding as of June 30, 2014 and December 31, 2013	242,042		242,042
Additional paid-in capital	11,362,069		11,372,443
Retained earnings (accumulated deficit)	-2,888,099		-2,915,723
Accumulated other comprehensive loss	-30,913		-38,173
Common stock in treasury, at cost, 55,969,390 shares as of June 30, 2014 and 28,345,108 shares as of December 31, 2013	-1,122,664		-566,863
Total stockholders’ equity	7,571,833		8,103,121
Noncontrolling interests in consolidated real estate affiliates	81,033		82,142
Total equity	7,652,866		8,185,263
Total liabilities and equity	$25,376,559		$25,762,303
[1]	Includes market rate adjustments of $19.1 million and $0.9 million as of June 30, 2014 and December 31, 2013, respectively.

CONSOLIDATED_BALANCE_SHEETS_Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Jun. 30, 2014	Dec. 31, 2013
Statement of Financial Position [Abstract]	'	'
Common stock, shares authorized	11,000,000,000	11,000,000,000
Common stock, par value (in dollars per share)	$0.01	$0.01
Common stock, shares issued	967,222,315	966,998,908
Common stock, shares outstanding	883,793,730	911,194,605
Preferred Stock, shares authorized	500,000,000	500,000,000
Preferred Stock, par value (in dollars per share)	$0.01	$0.01
Preferred Stock, shares issued	10,000,000	10,000,000
Preferred Stock, shares outstanding	10,000,000	10,000,000
Common stock in treasury, shares	55,969,390	28,345,108

CONSOLIDATED_STATEMENTS_OF_COM

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $)	3 Months Ended		6 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Revenues:	'	'	'	'
Minimum rents	$390,419	$385,512	$784,998	$779,407
Tenant recoveries	185,382	173,782	367,201	357,856
Overage rents	5,388	6,372	15,209	17,721
Management fees and other corporate revenues	17,717	17,307	34,403	33,239
Other	18,717	16,570	44,380	35,573
Total revenues	617,623	599,543	1,246,191	1,223,796
Expenses:	'	'	'	'
Real estate taxes	58,816	52,372	116,173	119,538
Property maintenance costs	14,452	14,952	36,427	37,908
Marketing	4,961	5,764	10,765	12,268
Other property operating costs	82,980	84,469	169,882	170,244
Provision for doubtful accounts	2,732	629	4,973	2,383
Property management and other costs	40,107	41,558	85,071	81,897
General and administrative	28,232	13,124	39,831	24,057
Depreciation and amortization	177,430	188,038	351,201	379,745
Total expenses	409,710	400,906	814,323	828,040
Operating income	207,913	198,637	431,868	395,756
Interest and dividend income	4,856	298	11,147	889
Interest expense	-175,494	-186,902	-354,924	-377,417
Gain on foreign currency	3,772	0	8,955	0
Warrant liability adjustment	0	0	0	-40,546
Gains from changes in control of investment properties	0	219,784	0	219,784
Loss on extinguishment of debt	0	-27,159	0	-36,478
Income before income taxes, equity in income of Unconsolidated Real Estate Affiliates, discontinued operations and allocation to noncontrolling interests	41,047	204,658	97,046	161,988
Provision for income taxes	-3,944	-1,382	-7,636	-1,523
Equity in income of Unconsolidated Real Estate Affiliates	19,320	13,987	26,477	27,181
Equity in income of Unconsolidated Real Estate Affiliates - gain on investment	0	0	0	3,448
Income from continuing operations	56,423	217,263	115,887	191,094
Discontinued operations:	'	'	'	'
Income (loss) from discontinued operations, including gains (losses) on dispositions	120,666	-3,340	126,410	-11,803
Gain on extinguishment of debt	0	0	66,680	25,894
Discontinued operations, net	120,666	-3,340	193,090	14,091
Net income	177,089	213,923	308,977	205,185
Allocation to noncontrolling interests	-3,365	-4,548	-7,217	-7,336
Net income attributable to General Growth Properties, Inc.	173,724	209,375	301,760	197,849
Preferred stock dividends	-3,984	-3,984	-7,968	-6,109
Net income attributable to common stockholders	169,740	205,391	293,792	191,740
Basic Earnings Per Share:	'	'	'	'
Continuing operations	$0.06	$0.22	$0.11	$0.19
Discontinued operations	$0.14	$0	$0.22	$0.01
Total basic earnings per share	$0.20	$0.22	$0.33	$0.20
Diluted Earnings Per Share:	'	'	'	'
Continuing operations	$0.05	$0.21	$0.11	$0.19
Discontinued operations	$0.13	$0	$0.20	$0.01
Total diluted earnings per share	$0.18	$0.21	$0.31	$0.20
Dividends declared per share	$0.15	$0.12	$0.30	$0.24
Comprehensive Income, Net:	'	'	'	'
Net income	177,089	213,923	308,977	205,185
Other comprehensive income	'	'	'	'
Net unrealized gains on financial instruments	-33	0	-33	0
Foreign currency translation	3,194	-60,575	7,145	-50,927
Unrealized gains on available-for-sale securities	0	682	0	931
Other comprehensive income (loss)	3,161	-59,893	7,112	-49,996
Comprehensive income	180,250	154,030	316,089	155,189
Comprehensive income allocated to noncontrolling interests	-3,202	-4,154	-7,069	-6,996
Comprehensive income attributable to General Growth Properties, Inc.	177,048	149,876	309,020	148,193
Preferred stock dividends	-3,984	-3,984	-7,968	-6,109
Comprehensive income, net, attributable to common stockholders	$173,064	$145,892	$301,052	$142,084

CONSOLIDATED_STATEMENTS_OF_EQU

CONSOLIDATED STATEMENTS OF EQUITY (USD $)	Total	Common Stock	Preferred Stock	Additional Paid-In Capital	Retained Earnings (Accumulated Deficit)	Accumulated Other Comprehensive Income (Loss)	Common Stock in Treasury	Noncontrolling Interests in Consolidated Real Estate Affiliates
In Thousands, unless otherwise specified
Balance at beginning of year at Dec. 31, 2012	$7,705,020	$9,392	$0	$10,432,447	($2,732,787)	($87,354)	$0	$83,322
Increase (Decrease) in Shareholders' Equity	'	'	'	'	'	'	'	'
Net income	199,119	'	'	'	197,849	'	'	1,270
Issuance of Preferred Stock, net of issuance costs	242,042	'	242,042	'	'	'	'	'
Distributions to noncontrolling interests in consolidated Real Estate Affiliates	-1,646	'	'	'	'	'	'	-1,646
Restricted stock grants, net	4,766	'	'	4,766	'	'	'	'
Employee stock purchase program	1,670	'	'	1,670	'	'	'	'
Stock option grants, net of forfeitures	27,165	3	'	27,162	'	'	'	'
Cash dividends reinvested (DRIP) in stock	293	'	'	293	'	'	'	'
Other comprehensive loss	-49,656	'	'	'	'	-49,656	'	'
Cash distributions declared	-225,504	'	'	'	-225,504	'	'	'
Cash distributions on Preferred Stock	-6,109	'	'	'	-6,109	'	'	'
Fair value adjustment for noncontrolling interest in GGPOP	-589	'	'	-589	'	'	'	'
Common stock warrants	895,513	'	'	895,513	'	'	'	'
Balance at end of year at Jun. 30, 2013	8,792,084	9,395	242,042	11,361,262	-2,766,551	-137,010	0	82,946
Balance at beginning of year at Dec. 31, 2013	8,185,263	9,395	242,042	11,372,443	-2,915,723	-38,173	-566,863	82,142
Increase (Decrease) in Shareholders' Equity	'	'	'	'	'	'	'	'
Net income	302,875	'	'	'	301,760	'	'	1,115
Distributions to noncontrolling interests in consolidated Real Estate Affiliates	-2,224	'	'	'	'	'	'	-2,224
Restricted stock grants, net	1,398	1	'	1,397	'	'	'	'
Employee stock purchase program	1,971	1	'	1,970	'	'	'	'
Stock option grants, net of forfeitures	13,601	1	'	13,600	'	'	'	'
Treasury stock purchases	-555,801	'	'	'	'	'	-555,801	'
Cash dividends reinvested (DRIP) in stock	252	'	'	252	'	'	'	'
Other comprehensive loss	7,260	'	'	'	'	7,260	'	'
Cash distributions declared	-266,168	'	'	'	-266,168	'	'	'
Cash distributions on Preferred Stock	-7,968	'	'	'	-7,968	'	'	'
Fair value adjustment for noncontrolling interest in GGPOP	-27,593	'	'	-27,593	'	'	'	'
Balance at end of year at Jun. 30, 2014	$7,652,866	$9,398	$242,042	$11,362,069	($2,888,099)	($30,913)	($1,122,664)	$81,033

CONSOLIDATED_STATEMENTS_OF_EQU1

CONSOLIDATED STATEMENTS OF EQUITY (Parenthetical) (USD $)	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
Statement of Stockholders' Equity [Abstract]	'	'
Restricted stock grants, shares	31,112	11,818
Employee stock purchase program, shares	96,781	84,774
Stock option grants, forfeitures, shares	83,724	290,438
Treasury stock purchases, shares	27,624,282	0
Cash dividends reinvested (DRIP) in stock, shares	11,790	14,050
Cash distributions declared (in dollars per share)	$0.30	$0.24

CONSOLIDATED_STATEMENTS_OF_CAS

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013
Cash Flows provided by Operating Activities:	'	'
Net income	$308,977	$205,185
Adjustments to reconcile net income to net cash provided by operating activities:	'	'
Equity in income of Unconsolidated Real Estate Affiliates	-26,477	-27,181
Equity in income of Unconsolidated Real Estate Affiliates - gain on investment, net	0	-3,448
Distributions received from Unconsolidated Real Estate Affiliates	19,224	30,238
Provision for doubtful accounts	4,910	2,587
Depreciation and amortization	352,454	387,230
Amortization/write-off of deferred finance costs	5,643	4,291
Accretion/write-off of debt market rate adjustments	12,648	5,445
Amortization of intangibles other than in-place leases	44,810	40,858
Straight-line rent amortization	-25,317	-25,207
Deferred income taxes	3,570	-1,682
Litigation loss	17,854	0
(Gain) loss on dispositions, net	-122,154	765
Gains from changes in control of investment properties	0	-219,784
Gain on extinguishment of debt	-66,680	-25,894
Provisions for impairment	0	4,975
Gain on foreign currency	-8,955	0
Warrant liability adjustment	0	40,546
Net changes:	'	'
Accounts and notes receivable	-618	14,122
Prepaid expenses and other assets	25,750	7,406
Deferred expenses	-4,206	-30,471
Restricted cash	-2,593	3,377
Accounts payable and accrued expenses	-8,203	-110,512
Other, net	13,627	11,046
Net cash provided by operating activities	544,264	313,892
Cash Flows (used in) provided by Investing Activities:	'	'
Acquisition of real estate and property additions	-247,586	-63,313
Development of real estate and property improvements	-272,719	-175,667
Proceeds from sales of investment properties	206,346	419,976
Contributions to Unconsolidated Real Estate Affiliates	-81,617	-58,607
Distributions received from Unconsolidated Real Estate Affiliates in excess of income	44,961	101,434
Decrease in restricted cash	2,635	4,632
Net cash (used in) provided by investing activities	-347,980	228,455
Cash Flows used in Financing Activities:	'	'
Proceeds from refinancing/issuance of mortgages, notes and loans payable	1,751,346	3,662,622
Principal payments on mortgages, notes and loans payable	-1,448,244	-3,532,036
Deferred finance costs	-10,176	-8,864
Net proceeds from issuance of Preferred stock	0	242,042
Purchase of Warrants	0	-633,229
Common stock purchases	-555,801	0
Cash distributions paid to common stockholders	-260,126	-216,004
Cash distributions paid to preferred stockholders	-7,968	-2,125
Cash redemptions paid to holders of common units	0	-4,756
Other, net	-579	30,106
Net cash used in financing activities	-531,548	-462,244
Net change in cash and cash equivalents	-335,264	80,103
Cash and cash equivalents at beginning of period	577,271	624,815
Cash and cash equivalents at end of period	242,007	704,918
Supplemental Disclosure of Cash Flow Information:	'	'
Interest paid	344,398	485,407
Interest capitalized	8,543	3,878
Income taxes paid	2,934	4,601
Accrued capital expenditures included in accounts payable and accrued expenses	63,178	68,627
Non-Cash Transactions:	'	'
Gain on investment in Unconsolidated Real Estate Affiliates	0	3,448
Amendment of warrant agreement	0	895,513
Non-Cash Sale of Property	'	'
Assets	21,426	71,881
Liabilities and equity	-21,426	-71,881
Assets	0	544,435
Liabilities and equity	$0	($544,435)

ORGANIZATION

ORGANIZATION	6 Months Ended
	Jun. 30, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
ORGANIZATION	'
	ORGANIZATION
	Readers of this Quarterly Report should refer to the Company’s (as defined below) audited consolidated financial statements for the year ended December 31, 2013 which are included in the Company’s Annual Report on Form 10-K (the “Annual Report”) for the fiscal year ended December 31, 2013 (Commission File No. 1-34948), as certain footnote disclosures which would substantially duplicate those contained in our Annual Report have been omitted from this Quarterly Report.  In the opinion of management, all adjustments necessary for a fair presentation (which include only normal recurring adjustments) have been included in this Quarterly Report.  Capitalized terms used, but not defined in this Quarterly Report, have the same meanings as in our Annual Report.
	General
	General Growth Properties, Inc. (“GGP” or the “Company”), a Delaware corporation, was organized in July 2010 and is a self-administered and self-managed real estate investment trust, referred to as a “REIT”.  In these notes, the terms “we,” “us” and “our” refer to GGP and its subsidiaries.
	GGP, through its subsidiaries and affiliates, is an owner and operator of retail properties. As of June 30, 2014, we are the owner, either entirely or with joint venture partners of 120 regional malls.  In addition to regional malls, as of June 30, 2014, we owned 12 strip/other retail properties, as well as six stand-alone office buildings.
	Substantially all of our business is conducted through GGP Operating Partnership, LP (“GGPOP”), GGP Nimbus, LP (“GGPN”) and GGP Limited Partnership (“GGPLP”, and together with GGPN, the “Operating Partnerships"), subsidiaries of GGP.  The Operating Partnerships own an interest in the properties that are part of the consolidated financial statements of GGP.  As of June 30, 2014, GGP held approximately a 99% common equity ownership (without giving effect to the potential conversion of the Preferred Units, as defined below) of the Operating Partnerships, while the remaining 1% was held by limited partners and certain previous contributors of properties to the Operating Partnerships or their predecessors.
	GGPOP is the general partner of, and owns a 1.5% equity interest in, each Operating Partnership. GGPOP has common units of limited partnership (“Common Units”), which are redeemable for cash or, at our option, shares of GGP common stock.  It also has preferred units of limited partnership interest (“Preferred Units”), of which, certain Preferred Units can be converted into Common Units and then redeemed for cash or, at our option, shares of GGP common stock (“Convertible Preferred Units”)
	(Note 10).
	In addition to holding ownership interests in various joint ventures, the Operating Partnerships generally conduct their operations through General Growth Management, Inc. (“GGMI”), General Growth Services, Inc. (“GGSI”), and GGP REIT Services, LLC (“GGPRS”).  GGMI and GGSI are taxable REIT subsidiaries (“TRS”s), which provide management, leasing, tenant coordination, business development, marketing, strategic partnership and other services for a majority of our Unconsolidated Real Estate Affiliates (defined below) and for substantially all of our Consolidated Properties, as defined below.  GGSI also serves as a contractor to GGMI for these services. GGPRS generally provides financial, accounting, tax, legal, development, and other services to our Consolidated Properties.
	We refer to our ownership interests in properties in which we own a majority or controlling interest and, as a result, are consolidated under accounting principles generally accepted in the United States of America (“GAAP”) as the “Consolidated Properties.”  We also own interests in certain properties through joint venture entities in which we own a noncontrolling interest (“Unconsolidated Real Estate Affiliates”) and we refer to those properties as the “Unconsolidated Properties.”

SUMMARY_OF_SIGNIFICANT_ACCOUNT

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2014
Accounting Policies [Abstract]	'
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	'
	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	Principles of Consolidation and Basis of Presentation
	The accompanying consolidated financial statements include the accounts of GGP, our subsidiaries and joint ventures in which we have a controlling interest. For consolidated joint ventures, the noncontrolling partner’s share of the assets, liabilities and operations of the joint ventures (generally computed as the joint venture partner’s ownership percentage) is included in noncontrolling interests in consolidated real estate affiliates as permanent equity of the Company. Intercompany balances and transactions have been eliminated.
	We operate in a single reportable segment which includes the operation, development and management of retail and other rental properties, primarily regional malls.  Our portfolio is targeted to a range of market sizes and consumer tastes.  Each of our operating properties is considered a separate operating segment, as each property earns revenues and incurs expenses, individual operating results are reviewed and discrete financial information is available.  We do not distinguish or group our consolidated operations based on geography, size or type. Our operating properties have similar economic characteristics and provide similar products and services to our tenants. Further, all material operations are within the United States and no customer or tenant comprises more than 10% of consolidated revenues.  As a result, the Company’s operating properties are aggregated into a single reportable segment.
	Reclassifications
	Certain prior period amounts included in the Consolidated Statements of Comprehensive Income and related footnotes associated with properties we have disposed of have been reclassified to discontinued operations for all periods presented. Additionally, $18.4 million of accrued interest related to the Tax indemnification liability (Note 16) was reclassified from Accounts payable and accrued expenses to Tax indemnification liability in our Consolidated Balance Sheets presented as of December 31, 2013, as presented herein.
	Properties
	Real estate assets are stated at cost less any provisions for impairments.  Expenditures for significant betterments and improvements are capitalized.  Maintenance and repairs are charged to expense when incurred.  Construction and improvement costs incurred in connection with the development of new properties or the redevelopment of existing properties are capitalized.  Real estate taxes, interest costs, and internal costs associated with leasing and development overhead incurred during construction periods are capitalized.  Capitalization is based on qualified expenditures and interest rates.  Capitalized real estate taxes, interest costs, and internal costs associated with leasing and development overhead are amortized over lives which are consistent with the related assets.
	Pre-development costs, which generally include legal and professional fees and other third-party costs directly related to the construction assets, are capitalized as part of the property being developed.  In the event a development is no longer deemed to be probable of occurring, the capitalized costs are expensed (see also our impairment policies in this note below).
	We periodically review the estimated useful lives of our properties, and may adjust them as necessary.  The estimated useful lives of our properties range from 10 - 45 years.
	Depreciation or amortization expense is computed using the straight-line method based upon the following estimated useful lives:
		Years
	Buildings and improvements	Oct-45
	Equipment and fixtures	20-Mar
	Tenant improvements	Shorter of useful life or applicable lease term
	Acquisitions of Operating Properties
	Acquisitions of properties are accounted for utilizing the acquisition method of accounting and, accordingly, the results of operations of acquired properties have been included in the results of operations from the respective dates of acquisition.  Estimates of future cash flows and other valuation techniques are used to allocate the purchase price of acquired property between land, buildings and improvements, equipment, assumed debt liabilities and identifiable intangible assets and liabilities such as amounts related to in-place tenant leases, acquired above and below-market tenant and ground leases, and tenant relationships.
	Identifiable intangible assets and liabilities are calculated for above-market and below-market tenant and ground leases where we are either the lessor or the lessee. The difference between the contractual rental rates and our estimate of market rental rates is measured over a period equal to the remaining non-cancelable term of the leases, including significantly below-market renewal options for which exercise of the renewal option appears to be reasonably assured.  The remaining term of leases with renewal options at terms significantly below market reflect the assumed exercise of such below-market renewal options and assume the amortization period would coincide with the extended lease term.
	The gross asset balances of the in-place value of tenant leases are included in buildings and equipment in our Consolidated Balance Sheets.
		Gross Asset			Accumulated			Net Carrying
					Amortization			Amount
	As of June 30, 2014
	Tenant leases:
	In-place value	$	696,009		$	(384,689	)	$	311,320
	As of December 31, 2013
	Tenant leases:
	In-place value	$	797,311		$	(420,370	)	$	376,941
	The above-market tenant leases and below-market ground leases are included in Prepaid expenses and other assets (Note 14); the below-market tenant leases, above-market ground leases and above-market headquarters office lease are included in Accounts payable and accrued expenses (Note 15) in our Consolidated Balance Sheets.
	Amortization/accretion of all intangibles, including the intangibles in Note 14 and Note 15, had the following effects on our Income (loss) from continuing operations:
		Three Months Ended June 30,						Six months ended June 30,
		2014			2013			2014			2013
	Amortization/accretion effect on continuing operations	$	(53,301	)	$	(57,538	)	$	(105,780	)	$	(125,520	)
	Future amortization/accretion of all intangibles, including the intangibles in Note 14 and Note 15, is estimated to decrease results from continuing operations as follows:
	Year		Amount
	2014 Remaining		$	83,756
	2015		141,551
	2016		109,824
	2017		82,224
	2018		54,049
	Management Fees and Other Corporate Revenues
	Management fees and other corporate revenues primarily represent management and leasing fees, development fees, financing fees, and fees for other ancillary services performed for the benefit of certain of the Unconsolidated Real Estate Affiliates.  Management fees are reported at 100% of the revenue earned from the joint venture in Management fees and other corporate revenues on our Consolidated Statements of Comprehensive Income.  Our share of the management fee expense incurred by the Unconsolidated Real Estate Affiliates is reported within Equity in income of Unconsolidated Real Estate Affiliates on our Consolidated Statements of Comprehensive Income and in Property management and other costs in the Condensed Combined Statements of Income in Note 6.  The following table summarizes the management fees from affiliates and our share of the management fee expense:
		Three Months Ended June 30,						Six Months Ended June 30,
		2014			2013			2014			2013
	Management fees from affiliates	$	17,717		$	17,281		$	34,403		$	33,139
	Management fee expense	(6,571		)	(6,146		)	(13,248		)	(12,117		)
	Net management fees from affiliates	$	11,146		$	11,135		$	21,155		$	21,022
	Impairment
	Operating properties
	We regularly review our consolidated properties for potential impairment indicators whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. Impairment indicators are assessed separately for each property and include, but are not limited to, significant decreases in real estate property net operating income, significant decreases in occupancy percentage, debt maturities, management’s intent with respect to the properties and prevailing market conditions.
	If an indicator of potential impairment exists, the property is tested for recoverability by comparing its carrying amount to the estimated future undiscounted cash flows. Although the carrying amount may exceed the estimated fair value of certain properties, a real estate asset is only considered to be impaired when its carrying amount cannot be recovered through estimated future undiscounted cash flows.  To the extent an impairment provision is determined to be necessary, the excess of the carrying amount of the property over its estimated fair value is expensed to operations.  In addition, the impairment provision is allocated proportionately to adjust the carrying amount of the asset group.  The adjusted carrying amount, which represents the new cost basis of the property, is depreciated over the remaining useful life of the property.
	Although we may market a property for sale, there can be no assurance that the transaction will be complete until the sale is finalized.  However, GAAP requires us to utilize the Company’s expected holding period of our properties when assessing recoverability.  If we cannot recover the carrying value of these properties within the planned holding period, we will estimate the fair values of the assets and record impairment charges for properties when the estimated fair value is less than their carrying value.
	Impairment indicators for pre-development costs, which are typically costs incurred during the beginning stages of a potential development and construction in progress, are assessed by project and include, but are not limited to, significant changes in the Company’s plans with respect to the project, significant changes in projected completion dates, tenant demand, anticipated revenues or cash flows, development costs, market factors and sustainability of development projects.
	Impairment charges are recorded in the Consolidated Statements of Comprehensive Income when the carrying value of a property is not recoverable and it exceeds the estimated fair value of the property, which can occur in accounting periods preceding disposition and / or in the period of disposition.
	There were no provisions for impairment for the three and six months ended June 30, 2014 and 2013, included in continuing operations of our Consolidated Statements of Comprehensive Income. There was no provision for impairment for the three and six months ended June 30, 2014, in Discontinued operations in our Consolidated Statements of Comprehensive Income. During the six months ended June 30, 2013, we recorded $5.0 million of impairment charges in Discontinued operations, net in our Consolidated Statements of Comprehensive Income, which was incurred as a result of the sale of two operating properties. One of the operating properties was previously transferred to a special servicer, and was sold in a lender-directed sale in full satisfaction of the related debt. This resulted in the recognition of a gain on extinguishment of debt of $25.9 million (Note 4). The other operating property related to a regional mall where the sales price of the property was lower than its carrying value.
	Investment in Unconsolidated Real Estate Affiliates
	A series of operating losses of an investee or other factors may indicate that an other-than-temporary decline in value of our investment in an Unconsolidated Real Estate Affiliate has occurred. The investment in each of the Unconsolidated Real Estate Affiliates is evaluated for valuation declines below the carrying amount.  Accordingly, in addition to the property-specific impairment analysis that we perform for such joint ventures (as part of our operating property impairment process described above), we also considered whether there were other-than-temporary declines with respect to the carrying values of our Unconsolidated Real Estate Affiliates. No impairments related to our investments in Unconsolidated Real Estate Affiliates were recognized for the three and six months ended June 30, 2014, and 2013.
	Fair Value Measurements (Note 5)
	The accounting principles for fair value measurements establish a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value.  These tiers include:
	•	Level 1 - defined as observable inputs such as quoted prices for identical assets or liabilities in active markets;
	•	Level 2 - defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and
	•	Level 3 - defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions.
	The impairment section above includes a discussion of all impairments recognized during the three and six months ended June 30, 2014, and 2013, which were based on Level 2 inputs.  Note 5 includes a discussion of properties measured at fair value on a non-recurring basis using Level 2 and Level 3 inputs and the fair value of debt, which is estimated on a recurring basis using Level 2 and Level 3 inputs.  Note 9 includes a discussion of our outstanding Warrants, which were measured at fair value using Level 3 inputs until the Warrant agreement was amended on March 28, 2013.  Note 10 includes a discussion of certain redeemable noncontrolling interests that are measured at fair value using Level 1 inputs.
	Recently Issued Accounting Pronouncements
Effective January 1, 2015 with early adoption permitted January 1, 2014 the definition of discontinued operations has been revised to limit what qualifies for this classification and presentation to disposals of components of a company that represent strategic shifts that have (or will have) a major effect on the company’s operations and financial results. Required expanded disclosures for disposals or disposal groups that qualify for discontinued operations are intended to provide users of financial statements with enhanced information about the assets, liabilities, revenues and expenses of such discontinued operations. In addition, in accordance with this pronouncement, companies are required to disclose the pretax profit or loss of an individually significant component that does not qualify for discontinued operations treatment. Pursuant to its terms, we have elected to adopt this pronouncement effective January 1, 2015. This definition will be applied prospectively after the adoption and is anticipated to substantially reduce the number of transactions, going forward, that qualify for discontinued operations as compared to historical results.
Effective January 1, 2017, companies will be required to apply a five-step model in accounting for revenue arising from contracts with customers. The core principle of the revenue model is that a company recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. Lease contracts will be excluded from this revenue recognition criteria; however, the sale of real estate will be required to follow the new model. Expanded quantitative and qualitative disclosures regarding revenue recognition will be required for contracts that are subject to this pronouncement. The Company is evaluating the potential impact of this pronouncement on its consolidated financial statements.
Use of Estimates
The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions. These estimates and assumptions affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. For example, estimates and assumptions have been made with respect to fair values of assets and liabilities for purposes of applying the acquisition method of accounting, the useful lives of assets, capitalization of development and leasing costs, provision for income taxes, recoverable amounts of receivables and deferred taxes, initial valuations and related amortization periods of deferred costs and intangibles, particularly with respect to acquisitions, impairment of long-lived assets, litigation related accruals and disclosures, and fair value of debt. Actual results could differ from these and other estimates.

ACQUISITIONS_AND_JOINT_VENTURE

ACQUISITIONS AND JOINT VENTURE ACTIVITY	6 Months Ended
	Jun. 30, 2014
Business Combinations [Abstract]	'
ACQUISITIONS AND JOINT VENTURE ACTIVITY	'
	ACQUISITIONS AND JOINT VENTURE ACTIVITY
	On June 27, 2014, we contributed $106.6 million to a joint venture that acquired acquired 685 5th Avenue in New York, New York for a gross purchase price of $521.4 million with $340.0 million in gross property-level financing. The property comprises approximately 25,000 square feet of retail space and 115,000 square feet of office space. We have a 50% interest in the joint venture and account for the joint venture under the equity method of accounting because we share control over major decisions with our joint venture partner. The property will be accounted for as an Unconsolidated Real Estate Affiliate, and is recorded within Investment in and loans to/from Unconsolidated Real Estate Affiliates on our Consolidated Balance Sheets (Note 6). In connection with the acquisition we provided an $85.3 million loan to our joint venture partner (Note 13).
	On June 28, 2013, we acquired the remaining 50% interest in Quail Springs Mall in Oklahoma City, Oklahoma, from our joint venture partner, for total consideration of $90.5 million, which included $55.5 million of cash and the assumption of the remaining 50% of debt. The investment property was previously recorded under the equity method of accounting and is now consolidated. The acquisition resulted in a remeasurement of the net assets acquired to fair value and as such, we recorded Gains from changes in control of investment properties of $19.8 million for the three and six months ended June 30, 2013, as the fair value of the net assets acquired was greater than our investment in the Unconsolidated Real Estate Affiliate and the cash paid to acquire our joint venture partner’s interest. The table below summarizes the gain calculation:
	Total fair value of net assets acquired	$	110,893
	Previous investment in Quail Springs Mall	(35,610		)
	Cash paid to acquire our joint venture partners' interest	(55,507		)
	Gains from changes in control of investment properties	$	19,776
	The following table summarizes the allocation of the purchase price to the net assets acquired at the date of acquisition. These allocations were based on the relative fair values of the assets acquired and liabilities assumed.
	Investment in real estate, including intangible assets and liabilities	$	186,627
	Fair value of debt	(77,204		)
	Net working capital	1,470
	Net assets acquired	$	110,893
	On May 16, 2013, we formed a joint venture with TIAA-CREF Global Investments, LLC (‘‘TIAACREF’’) that holds 100% of The Grand Canal Shoppes and The Shoppes at The Palazzo in Las Vegas, Nevada. We received $411.5 million in cash, net of debt assumed of $311.9 million, and TIAACREF received a 49.9% economic interest in the joint venture. We recorded Gains from changes in control of investment properties of $200.0 million on our Consolidated Statements of Comprehensive Income for the three and six months ended June 30, 2013, as a result of this transaction. We are the general partner, however we account for the joint venture under the equity method of accounting because we share control over major decisions with TIAACREF and TIAACREF has substantive participating rights. The table below summarizes the gain calculation:
	Cash received from our joint venture partner	$	411,476
	Proportionate share of previous investment in The Grand Canal Shoppes and The Shoppes at The Palazzo	(211,468		)
	Gains from changes in control of investment properties	$	200,008

DISCONTINUED_OPERATIONS_AND_GA

DISCONTINUED OPERATIONS AND GAINS (LOSSES) ON DISPOSITIONS OF OPERATING PROPERTIES	6 Months Ended
	Jun. 30, 2014
Discontinued Operations and Disposal Groups [Abstract]	'
DISCONTINUED OPERATIONS AND GAINS (LOSSES) ON DISPOSITIONS OF OPERATING PROPERTIES	'
	DISCONTINUED OPERATIONS AND GAINS (LOSSES) ON DISPOSITIONS OF OPERATING PROPERTIES
	All of our dispositions of consolidated operating properties for which there is no continuing involvement, for all periods presented, are included in discontinued operations in our Consolidated Statements of Comprehensive Income and are summarized in the table below.  Gains on disposition and gains on debt extinguishment are recorded in the Consolidated Statements of Comprehensive Income in the period the property is disposed.
	During the six months ended June 30, 2014, one property, which was previously transferred to a special servicer, was sold in a lender-directed sale in full satisfaction of the debt. This resulted in a gain on extinguishment of debt of $66.7 million and a reduction of property-level debt of $79.0 million. Additionally, we sold one asset for $210.0 million, which resulted in a gain of $117.5 million. We used the net proceeds from this transaction to repay debt of $100.9 million.
	During the six months ended June 30, 2013, we sold our interests in three assets totaling approximately 2 million square feet of gross leasable area (“GLA”), which reduced our property level debt by $121.2 million. One property, which was previously transferred to a servicer, was sold in a lender-directed sale in full satisfaction of the debt.  This resulted in a gain on extinguishment of debt of $25.9 million.
	The following table summarizes the operations of the properties included in discontinued operations.
		Three Months Ended June 30,						Six Months Ended June 30,
		2014			2013			2014			2013
	Retail and other revenue	$	2,707		$	14,176		$	7,075		$	28,928
	Total revenues	2,707			14,176			7,075			28,928
	Retail and other operating expenses	(507		)	10,817			1,835			22,475
	Provisions for impairment	—			—			—			4,975
	Total expenses	(507		)	10,817			1,835			27,450
	Operating income	3,214			3,359			5,240			1,478
	Interest expense, net	(9		)	(6,257		)	(984		)	(12,516		)
	Gains (losses) on dispositions	117,461			(442		)	122,154			(765		)
	Net income (loss) from operations	120,666			(3,340		)	126,410			(11,803		)
	Gain on debt extinguishment	—			—			66,680			25,894
	Net income from discontinued operations	$	120,666		$	(3,340	)	$	193,090		$	14,091

FAIR_VALUE

FAIR VALUE	6 Months Ended
	Jun. 30, 2014
Fair Value Disclosures [Abstract]	'
FAIR VALUE	'
	FAIR VALUE
	Nonrecurring Fair Value of Operating Properties
	We estimate fair value relating to impairment assessments based upon discounted cash flow and direct capitalization models that include all projected cash inflows and outflows over a specific holding period, or the negotiated sales price, if applicable.  Such projected cash flows are comprised of contractual rental revenues and forecasted rental revenues and expenses based upon market conditions and expectations for growth. Capitalization rates and discount rates utilized in these models are based on a reasonable range of current market rates for each property analyzed.  Based upon these inputs, we determined that our valuations of properties using a discounted cash flow or a direct capitalization model were classified within Level 3 of the fair value hierarchy.  For our properties for which the estimated fair value was based on negotiated sales prices, we determined that our valuation was classified within Level 2 of the fair value hierarchy.
	Disclosure of Fair Value of Financial Instruments
	The fair values of our financial instruments approximate their carrying amount in our consolidated financial statements except for debt.  Management’s estimates of fair value are presented below for our debt as of June 30, 2014 and December 31, 2013.
		June 30, 2014				December 31, 2013
		Carrying Amount (1)		Estimated Fair		Carrying Amount (1)		Estimated Fair
				Value				Value
	Fixed-rate debt	$	13,711,131	$	14,388,366	$	13,919,820	$	13,957,952
	Variable-rate debt	2,198,092		2,239,661		1,752,617		1,787,139
		$	15,909,223	$	16,628,027	$	15,672,437	$	15,745,091
	(1) Includes market rate adjustments of $19.1 million and $0.9 million as of June 30, 2014 and December 31, 2013, respectively.
	The fair value of our Junior Subordinated Notes approximates their carrying amount as of June 30, 2014 and December 31, 2013.  We estimated the fair value of mortgages, notes and other loans payable using Level 2 and Level 3 inputs based on recent financing transactions, estimates of the fair value of the property that serves as collateral for such debt, historical risk premiums for loans of comparable quality, current London Interbank Offered Rate (“LIBOR”), U.S. treasury obligation interest rates and on the discounted estimated future cash payments to be made on such debt. The discount rates estimated reflect our judgment as to what the approximate current lending rates for loans or groups of loans with similar maturities and assume that the debt is outstanding through maturity. We have utilized market information as available or present value techniques to estimate the amounts required to be disclosed.  Since such amounts are estimates that are based on limited available market information for similar transactions and do not acknowledge transfer or other repayment restrictions that may exist in specific loans, it is unlikely that the estimated fair value of any such debt could be realized by immediate settlement of the obligation.

UNCONSOLIDATED_REAL_ESTATE_AFF

UNCONSOLIDATED REAL ESTATE AFFILIATES	6 Months Ended
	Jun. 30, 2014
UNCONSOLIDATED REAL ESTATE AFFILIATES	'
UNCONSOLIDATED REAL ESTATE AFFILIATES	'
	UNCONSOLIDATED REAL ESTATE AFFILIATES
	The following is summarized financial information for all of our Unconsolidated Real Estate Affiliates.
		June 30, 2014				December 31, 2013
	Condensed Combined Balance Sheets - Unconsolidated Real Estate Affiliates
	Assets:
	Land	$	1,055,127			$	1,046,354
	Buildings and equipment	9,280,708				8,670,976
	Less accumulated depreciation	(2,432,538		)		(2,301,054		)
	Construction in progress	59,640				46,339
	Net property and equipment	7,962,937				7,462,615
	Cash and cash equivalents	298,870				260,405
	Accounts and notes receivable, net	170,099				187,533
	Deferred expenses, net	268,424				254,949
	Prepaid expenses and other assets	203,975				147,182
	Total assets	$	8,904,305			$	8,312,684
	Liabilities and Owners’ Equity:	\
	Mortgages, notes and loans payable	$	6,838,981			$	6,503,686
	Accounts payable, accrued expenses and other liabilities	322,671				324,620
	Cumulative effect of foreign currency translation (“CFCT”)	(17,036		)		(22,896		)
	Owners’ equity, excluding CFCT	1,759,689				1,507,274
	Total liabilities and owners’ equity	$	8,904,305			$	8,312,684
	Investment In and Loans To/From Unconsolidated Real Estate Affiliates, Net:
	Owners’ equity	$	1,742,653			$	1,484,378
	Less: joint venture partners’ equity	(889,809		)		(760,804		)
	Plus: excess investment/basis differences	1,709,706				1,666,719
	Investment in and loans to/from Unconsolidated Real Estate Affiliates, net	$	2,562,550			$	2,390,293
	Reconciliation - Investment In and Loans To/From Unconsolidated Real Estate Affiliates:
	Asset - Investment in and loans to/from Unconsolidated Real Estate Affiliates	$	2,580,966			$	2,407,698
	Liability - Investment in Unconsolidated Real Estate Affiliates	(18,416		)		(17,405		)
	Investment in and loans to/from Unconsolidated Real Estate Affiliates, net	$	2,562,550			$	2,390,293
			Three Months Ended June 30,							Six Months Ended June 30,
			2014				2013			2014			2013
	Condensed Combined Statements of Income - Unconsolidated Real Estate Affiliates
	Revenues:
	Minimum rents		$	212,735			$	186,713		$	398,543		$	367,398
	Tenant recoveries		87,434				83,159			174,896			159,288
	Overage rents		4,244				3,514			9,098			8,423
	Other		7,341				7,982			19,076			14,872
	Total revenues		311,754				281,368			601,613			549,981
	Expenses:
	Real estate taxes		27,003				26,094			54,686			51,609
	Property maintenance costs		8,304				7,638			20,006			16,261
	Marketing		3,223				3,388			6,790			6,529
	Other property operating costs		40,846				39,317			82,783			75,260
	Provision for doubtful accounts		227				(159		)	1,043			1,262
	Property management and other costs (1)		13,990				12,686			28,193			25,125
	General and administrative		5,326				594			5,810			1,174
	Depreciation and amortization		76,952				68,527			152,657			133,711
	Total expenses		175,871				158,085			351,968			310,931
	Operating income		135,883				123,283			249,645			239,050
	Interest income		1,301				311			2,848			566
	Interest expense		(73,523		)		(69,713		)	(146,395		)	(135,503		)
	Provision for income taxes		(91		)		(132		)	(279		)	(288		)
	Income from continuing operations		63,570				53,749			105,819			103,825
	Net income from disposed investment		—				6,319			—			18,111
	Allocation to noncontrolling interests		(13		)		(8		)	(17		)	33
	Net income attributable to the ventures		$	63,557			$	60,060		$	105,802		$	121,969
	Equity In Income of Unconsolidated Real Estate Affiliates:
	Net income attributable to the ventures		$	63,557			$	60,060		$	105,802		$	121,969
	Joint venture partners’ share of income		(34,011		)		(33,082		)	(58,224		)	(67,741		)
	Amortization of capital or basis differences		(10,226		)		(12,991		)	(21,101		)	(27,047		)
	Equity in income of Unconsolidated Real Estate Affiliates		$	19,320			$	13,987		$	26,477		$	27,181
	(1) Includes management fees charged to the unconsolidated joint ventures by GGMI and GGSI.
The Unconsolidated Real Estate Affiliates represents our investments in real estate joint ventures that are not consolidated. We hold interests in 21 domestic joint ventures, comprising 31 regional malls and six strip/other retail centers, and one joint venture in Brazil. Generally, we share in the profits and losses, cash flows and other matters relating to our investments in Unconsolidated Real Estate Affiliates in accordance with our respective ownership percentages.  We manage most of the properties owned by these joint ventures.  As we have joint control of these ventures with our venture partners, we account for these joint ventures under the equity method.
Unconsolidated Mortgages, Notes and Loans Payable, and Retained Debt
Our proportionate share of the mortgages, notes and loans payable of the unconsolidated joint ventures was $3.4 billion as of June 30, 2014 and $3.2 billion as of December 31, 2013, including Retained Debt (as defined below).  There can be no assurance that the Unconsolidated Properties will be able to refinance or restructure such debt on acceptable terms or otherwise, or that joint venture operations or contributions by us and/or our partners will be sufficient to repay such loans.
We have debt obligations in excess of our pro rata share of the debt for one of our Unconsolidated Real Estate Affiliates (“Retained Debt”). This Retained Debt represents distributed debt proceeds of the Unconsolidated Real Estate Affiliates in excess of our pro rata share of the non-recourse mortgage indebtedness.  The proceeds of the Retained Debt which were distributed to us are included as a reduction in our investment in Unconsolidated Real Estate Affiliates.  We had retained debt of $89.9 million at one property as of June 30, 2014, and $90.6 million as of December 31, 2013.  We are obligated to contribute funds on an ongoing basis, as needed, to our Unconsolidated Real Estate Affiliates in amounts sufficient to pay debt service on such Retained Debt.  If we do not contribute such funds, our distributions from such Unconsolidated Real Estate Affiliates, or our interest in, could be reduced to the extent of such deficiencies.  As of June 30, 2014, we do not anticipate an inability to perform on our obligations with respect to Retained Debt.

MORTGAGES_NOTES_AND_LOANS_PAYA

MORTGAGES, NOTES AND LOANS PAYABLE	6 Months Ended
	Jun. 30, 2014
Debt Disclosure [Abstract]	'
MORTGAGES, NOTES AND LOANS PAYABLE	'
	MORTGAGES, NOTES AND LOANS PAYABLE
	Mortgages, notes and loans payable and the weighted-average interest rates are summarized as follows:
		June 30, 2014 (1)		Weighted-Average		December 31, 2013 (3)		Weighted-Average
				Interest Rate (2)				Interest Rate (2)
	Fixed-rate debt:
	Collateralized mortgages, notes and loans payable (4)	$	13,701,402	4.53	%	$	13,907,029	4.55	%
	Corporate and other unsecured loans	9,729		4.41	%	12,791		4.41	%
	Total fixed-rate debt	13,711,131		4.53	%	13,919,820		4.55	%
	Variable-rate debt:
	Collateralized mortgages, notes and loans payable (4)	2,116,292		2.46	%	1,700,817		2.61	%
	Revolving credit facility	81,800		1.73	%	51,800		1.74	%
	Total variable-rate debt	2,198,092		2.43	%	1,752,617		2.59	%
	Total Mortgages, notes and loans payable	$	15,909,223	4.24	%	$	15,672,437	4.33	%
	Junior Subordinated Notes	$	206,200	1.67	%	$	206,200	1.69	%
	(1) Includes net $19.1 million of debt market rate adjustments.
	(2) Represents the weighted-average interest rates on our contractual principal balances.
	(3) Includes net $0.9 million of debt market rate adjustments.
	(4) Properties provide mortgage collateral as guarantors.  $101.7 million of the fixed-rate balance and $1.4 billion of the variable-rate balance is cross-collateralized.
	Collateralized Mortgages, Notes and Loans Payable
	As of June 30, 2014, $21.4 billion of land, buildings and equipment (before accumulated depreciation) and construction in progress have been pledged as collateral for our mortgages, notes and loans payable. Certain of these consolidated secured loans, representing $1.5 billion of debt, are cross-collateralized with other properties.  Although a majority of the $15.8 billion of fixed and variable rate collateralized mortgages, notes and loans payable are non-recourse, $1.7 billion of such mortgages, notes and loans payable are recourse to the Company as guarantees on secured financings.  In addition, certain mortgage loans contain other credit enhancement provisions which have been provided by GGP.  Certain mortgages, notes and loans payable may be prepaid but are generally subject to a prepayment penalty equal to a yield-maintenance premium, defeasance or a percentage of the loan balance.
	During the six months ended June 30, 2014, we refinanced consolidated mortgage notes totaling $1.0 billion related to six properties and generated net proceeds of $308.4 million.  The prior loans had a weighted-average term-to-maturity of 1.7 years, and a weighted-average interest rate of 4.8%.  The new loans have a weighted-average term-to-maturity of 7.3 years, and a weighted-average interest rate of 3.6%. In addition to these loans, we also obtained a $450.0 million construction loan at Ala Moana Center with an interest rate of LIBOR plus 1.9%. As of June 30, 2014, the Company has drawn $153.8 million under this loan.
	Corporate and Other Unsecured Loans
	We have certain unsecured debt obligations, the terms of which are described below:
		June 30, 2014 (2)		Weighted-Average		December 31, 2013 (3)		Weighted-Average
				Interest Rate				Interest Rate
	Unsecured debt:
	HHC Note (1)	$	9,993	4.41	%	$	13,179	4.41	%
	Revolving credit facility	81,800		1.73	%	51,800		1.74	%
	Total unsecured debt	$	91,793	2.02	%	$	64,979	2.28	%
	(1) Matures in December 2015.
	(2) Excludes a market rate discount of $0.3 million that decreases the total amount that appears outstanding in our Consolidated Balance Sheets.  The market rate discount amortizes as an addition to interest expense over the life of the loan.
	(3) Excludes a market rate discount of $0.4 million that decreases the total amount that appears outstanding in our Consolidated Balance Sheets.  The market rate discount amortizes as an addition to interest expense over the life of the loan.
	Our revolving credit facility (the “Facility”) as amended on October 23, 2013, provides for revolving loans of up to $1.0 billion.  The Facility has an uncommitted accordion feature for a total facility of up to $1.5 billion.  The Facility is scheduled to mature in October 2018 and is unsecured.  Borrowings under the Facility bear interest at a rate equal to LIBOR plus 132.5 to 195 basis points, which is determined by the Company’s leverage level.  The Facility contains certain restrictive covenants which limit material changes in the nature of our business conducted, including but not limited to, mergers, dissolutions or liquidations, dispositions of assets, liens, incurrence of additional indebtedness, dividends, transactions with affiliates, prepayment of subordinated debt, negative pledges and changes in fiscal periods. In addition, we are required not to exceed a maximum net debt-to-value ratio, a maximum leverage ratio and a minimum net cash interest coverage ratio; we are not aware of any instances of non-compliance with such covenants as of June 30, 2014. $81.8 million was outstanding on the Facility, as of June 30, 2014 and was repaid in full subsequent to quarter end (Note 18).
	Junior Subordinated Notes
	GGP Capital Trust I, a Delaware statutory trust (the “Trust”) and a wholly-owned subsidiary of GGPN, completed a private placement of $200.0 million of trust preferred securities (“TRUPS”) in 2006.  The Trust also issued $6.2 million of Common Securities to GGPOP.  The Trust used the proceeds from the sale of the TRUPS and Common Securities to purchase $206.2 million of floating rate Junior Subordinated Notes of GGPOP due 2036.  Distributions on the TRUPS are equal to LIBOR plus 1.45%.  Distributions are cumulative and accrue from the date of original issuance.  The TRUPS mature on April 30, 2036, but may be redeemed beginning on April 30, 2011 if the Trust exercises its right to redeem a like amount of Junior Subordinated Notes.  The Junior Subordinated Notes bear interest at LIBOR plus 1.45% and are fully recourse to the Company. Though the Trust currently is a wholly-owned subsidiary of GGPN, we are not the primary beneficiary of the Trust and, accordingly, it is not consolidated for accounting purposes.  We have recorded the Junior Subordinated Notes as a liability and our common equity interest in the Trust as prepaid expenses and other assets in our Consolidated Balance Sheets as of June 30, 2014 and December 31, 2013.
	Letters of Credit and Surety Bonds
	We had outstanding letters of credit and surety bonds of $24.3 million as of June 30, 2014 and $19.4 million as of December 31, 2013. These letters of credit and bonds were issued primarily in connection with insurance requirements, special real estate assessments and construction obligations.
	We are not aware of any instances of non-compliance with our financial covenants related to our mortgages, notes and loans payable as of June 30, 2014.

INCOME_TAXES

INCOME TAXES	6 Months Ended
	Jun. 30, 2014
Income Tax Disclosure [Abstract]	'
INCOME TAXES	'
	INCOME TAXES
	We have elected to be taxed as a REIT under the Internal Revenue Code.  We intend to maintain REIT status.  To qualify as a REIT, the Company must meet a number of organizational and operational requirements, including requirements to distribute at least 90% of our taxable ordinary income and to either distribute taxable capital gains to stockholders, or pay corporate income tax on the undistributed capital gains.  In addition, the Company is required to meet certain asset and income tests.
	As a REIT, we will generally not be subject to corporate level Federal income tax on taxable income we distribute currently to our stockholders.  If we fail to qualify as a REIT in any taxable year, we will be subject to Federal income taxes at regular corporate rates (including any applicable alternative minimum tax) and may not be able to qualify as a REIT for four subsequent taxable years.  Even if we qualify for taxation as a REIT, we may be subject to certain state and local taxes on our income or property, and to Federal income and excise taxes on our undistributed taxable income.  Generally, we are currently open to audit by the Internal Revenue Service for the years ended December 31, 2010 through 2013 and are open to audit by state taxing authorities for the years ended December 31, 2009 through 2013.
	Based on our assessment of the expected outcome of existing examinations or examinations that may commence, or as a result of the expiration of the statute of limitations for specific jurisdictions, it is reasonably possible that the related unrecognized tax benefits, excluding accrued interest, for tax positions taken regarding previously filed tax returns will change from those recorded at June 30, 2014, although such change is not expected to have a material effect on our consolidated financial position, results of operations or liquidity.

WARRANTS

WARRANTS	6 Months Ended
	Jun. 30, 2014
WARRANTS	'
WARRANTS	'
	WARRANTS
	Pursuant to the terms of the Investment Agreements, the Plan Sponsors and Blackstone were issued 120,000,000 warrants (the “Warrants”) to purchase common stock of GGP with an initial weighted average exercise price of $10.63.  Each Warrant was originally recorded as a liability, as the holders of the Warrants could have required GGP to settle such Warrants in cash upon certain changes of control events.  The Warrants were fully vested upon issuance.  Each Warrant has a term of seven years and expires on November 9, 2017.  Below is a summary of the Warrants initially received by the Plan Sponsors and Blackstone.
	Initial Warrant Holder		Number of Warrants		Initial Exercise Price
	Brookfield		57,500,000		$	10.75
	Blackstone - B (2)		2,500,000		10.75
	Fairholme (2)		41,070,000		10.5
	Pershing Square (1)		16,430,000		10.5
	Blackstone - A (2)		2,500,000		10.5
			120,000,000
	(1) On December 31, 2012, the Pershing Square Warrants were purchased by the Brookfield; Brookfield owns or manages on behalf of third parties, all outstanding Warrants.
	(2) On January 28, 2013, the Fairholme and Blackstone Warrants (A and B) were purchased by GGPOP.
	The Brookfield Warrants and the Blackstone Warrants (A and B) were immediately exercisable, while the Fairholme Warrants and the Pershing Square Warrants were exercisable (for the initial 6.5 years from the issuance) only upon 90 days prior notice, but there is no obligation to exercise at any point from the end of the 90 day notification period through maturity.
	The exercise prices of the Warrants are subject to adjustment for future dividends, stock dividends, distribution of assets, stock splits or reverse splits of our common stock or certain other events.  In accordance with the agreement, these calculations adjust both the exercise price and the number of shares issuable for the 120,000,000 Warrants that were initially issued to the Plan Sponsors.  During 2013 and 2014, the number of shares issuable upon exercise of the outstanding Warrants changed as follows:
					Exercise Price
	Record Date		Issuable Shares (1)		Brookfield and Blackstone - B		Fairholme, Pershing Square and Blackstone - A
	April 16, 2013		83,443,178		$	9.53	$	9.3
	July 16, 2013		83,945,892		9.47		9.25
	October 15, 2013		84,507,750		9.41		9.19
	December 13, 2013		85,084,392		9.34		9.12
	April 15, 2014		85,668,428		9.28		9.06
	(1) Issuable shares as of April 16, 2013 exclude the Fairholme and Blackstone A and B Warrants purchased and exercised by GGPOP (Note 11).
	The Fairholme and Blackstone A and B Warrants were purchased and subsequently exercised by GGPOP.  As of June 30, 2014, Brookfield owns or manages on behalf of third parties all of the remaining Warrants. Brookfield has the option for 57,500,000 Warrants to either full share settle (i.e. deliver cash for the exercise price of the Warrants in the amount of approximately $618 million in exchange for approximately 67,000,000 shares of common stock) or net share settle.  The remaining 16,430,000 Warrants owned or managed by Brookfield must be net share settled.  As of June 30, 2014, the remaining Warrants are exercisable into approximately 52 million common shares of the Company, at a weighted-average exercise price of approximately $9.23 per share.  Due to their ownership of Warrants, Brookfield’s potential ownership of the Company may change as a result of payments of dividends and changes in our stock price.
	On March 28, 2013, we amended the Warrant agreement to replace the right of Warrant holders to receive cash from the Company under a change of control to the right to, instead, receive shares of the Company, changing the method of settlement. This amendment results in the classification of the Warrants as a component of permanent equity on our Consolidated Balance Sheets. Prior to the amendment, the Warrants were classified as a liability, due to the cash settlement feature, and marked to fair value, with changes in fair value recognized in earnings. As a result of the amendment, the fair value was determined as of March 28, 2013 with the change in fair value recognized in our Consolidated Statements of Comprehensive Income and the determined fair value was reclassified to equity.
	The estimated fair value of the Warrants was $895.5 million as of March 28, 2013.  The fair value of the Warrants was estimated using the Black Scholes option pricing model using our stock price, the Warrant term, and Level 3 inputs (Note 2).  As discussed above, the modification of the warrant agreement resulted in the classification of the Warrants as equity as of March 28, 2013.  From December 31, 2012 through March 28, 2013, changes in the fair value of the Warrants were recognized in earnings.  An increase in GGP’s common stock price or in the expected volatility of the Warrants would increase the fair value; whereas, a decrease in GGP’s common stock price or an increase in the lack of marketability would decrease the fair value.
	The following table summarizes the change in fair value of the Warrants which is measured on a recurring basis using Level 3 inputs:
		Six Months Ended June 30, 2013
	Balance as of January 1,	$	1,488,196
	Warrant liability adjustment	40,546
	Purchase of Warrants by GGPOP	(633,229		)
	Reclassification to equity	(895,513		)
	Balance as of June 30,	$	—
	The following table summarizes the estimated fair value of the Warrants and significant observable and unobservable inputs used in the valuation as of March 28, 2013:
		March 28, 2013
	Fair value of Warrants	$	895,513
	Observable Inputs
	GGP stock price per share	$	19.88
	Warrant term	4.62
	Unobservable Inputs
	Expected volatility	30		%
	Range of values considered	(15% - 65%)
	Discount for lack of marketability	3		%
	Range of values considered	(3% - 7%)

EQUITY_AND_REDEEMABLE_NONCONTR

EQUITY AND REDEEMABLE NONCONTROLLING INTERESTS	6 Months Ended
	Jun. 30, 2014
Equity [Abstract]	'
EQUITY AND REDEEMABLE NONCONTROLLING INTERESTS	'
	EQUITY AND REDEEMABLE NONCONTROLLING INTERESTS
	Allocation to Noncontrolling Interests
	Noncontrolling interests consists of the redeemable interests related to common and preferred GGPOP units and the noncontrolling interest in our consolidated joint ventures.  The following table reflects the activity included in the allocation to noncontrolling interests.
			Three months ended June 30,							Six Months Ended June 30,
			2014				2013			2014			2013
	Distributions to preferred GGPOP units		$	(2,232	)		$	(2,336	)	$	(4,464	)	$	(4,671	)
	Net income allocation to noncontrolling interests in GGPOP from continuing operations (common units)		(973		)		(1,479		)	(1,637		)	(1,395		)
	Net income allocated to noncontrolling interest in consolidated real estate affiliates		(160		)		(733		)	(1,116		)	(1,270		)
	Allocation to noncontrolling interests		(3,365		)		(4,548		)	(7,217		)	(7,336		)
	Other comprehensive loss allocated to noncontrolling interests		163				394			148			340
	Comprehensive income allocated to noncontrolling interests		$	(3,202	)		$	(4,154	)	$	(7,069	)	$	(6,996	)
	Redeemable Noncontrolling Interests
	The minority interest related to the Common and Preferred Units of GGPOP are presented as redeemable noncontrolling interests in our Consolidated Balance Sheets since it is possible we could be required, under certain events outside of our control, to redeem the securities for cash by the holders of the securities.
	The Common and Preferred Units of GGPOP are recorded at the greater of the carrying amount adjusted for the noncontrolling interest’s share of the allocation of income or loss (and its share of other comprehensive income or loss) and dividends or their redemption value (i.e. fair value) as of each measurement date.  The excess of the fair value over the carrying amount from period to period is recorded within Additional paid-in capital in our Consolidated Balance Sheets.  Allocation to noncontrolling interests is presented as an adjustment to net income to arrive at Net income (loss) attributable to General Growth Properties, Inc.
	The common redeemable noncontrolling interests have been recorded at fair value for all periods presented.  One tranche of preferred redeemable noncontrolling interests has been recorded at fair value, while the other tranches of preferred redeemable noncontrolling interests have been recorded at carrying value.
	Generally, the holders of the Common Units share in any distributions by GGPOP with our common stockholders.  However, the GGPOP operating partnership agreement permits distributions solely to GGP if such distributions were required to allow GGP to comply with the REIT distribution requirements or to avoid the imposition of excise tax.  Under certain circumstances, the conversion rate for each Common Unit is required to be adjusted to give effect to stock distributions.  If the holders had requested redemption of the Common Units as of June 30, 2014, the aggregate amount of cash we would have paid would have been $145.8 million.
	GGPOP issued Convertible Preferred Units that are convertible into Common Units of GGPOP at the rates below (subject to adjustment).  The holder may convert the Convertible Preferred Units into Common Units of GGPOP at any time, subject to certain restrictions.  The Common Units are convertible into common stock at approximately a one-to-one ratio at the current stock price.
			Number of Common Units for each Preferred Unit			Number of Contractual Convertible Preferred Units Outstanding as of June 30, 2014			Converted Basis to Common Units Outstanding as of June 30, 2014		Conversion Price			Redemption Value
	Series B (1)		3			1,279,632			3,991,540		$	16.6667		94,041
	Series D		1.50821			532,750			803,499		33.15188			26,637
	Series E		1.29836			502,658			652,631		38.51			25,133
														$	145,811
	(1) The conversion price of Series B preferred units is lower than the GGP June 30, 2014 closing common stock price of $23.56; therefore, the June 30, 2014 common stock price of $23.56, and an additional conversion rate of 1.0397624 shares is used to calculate the Series B redemption value.
	The following table reflects the activity of the redeemable noncontrolling interests for the six months ended June 30, 2014, and 2013.
	Balance at January 1, 2013	$	268,219
	Net income	1,395
	Distributions	(1,511		)
	Redemption of GGPOP units	(3,328		)
	Other comprehensive loss	(340		)
	Fair value adjustment for noncontrolling interests in GGPOP	(839		)
	Balance at June 30, 2013	$	263,596
	Balance at January 1, 2014	$	228,902
	Net income	1,637
	Distributions	(1,450		)
	Other comprehensive loss	(148		)
	Fair value adjustment for noncontrolling interests in GGPOP	30,762
	Balance at June 30, 2014	$	259,703
	Common Stock Dividend
	Our Board of Directors declared common stock dividends during 2014 and 2013 as follows:
	Declaration Date		Record Date		Payment Date		Dividend Per Share
	2014
	15-May		15-Jul		July 31, 2014		$	0.15
	26-Feb		15-Apr		30-Apr-14		0.15
	2013
	28-Oct		13-Dec		January 2, 2014		$	0.14
	29-Jul		15-Oct		October 29, 2013		0.13
	10-May		16-Jul		July 30, 2013		0.12
	4-Feb		16-Apr		April 30, 2013		0.12
	Our Dividend Reinvestment Plan (“DRIP”) provides eligible holders of GGP’s common stock with a convenient method of increasing their investment in the Company by reinvesting all or a portion of cash dividends in additional shares of common stock.  Eligible stockholders who enroll in the DRIP on or before the fourth business day preceding the record date for a dividend payment will be able to have that dividend reinvested.  As a result of the DRIP elections, 11,790 shares were issued during the six months ended June 30, 2014 and 14,050 shares were issued during the six months ended June 30, 2013.
	Preferred Stock
	On February 13, 2013, we issued, in a public offering, 10,000,000 shares of 6.375% Series A Cumulative Perpetual Preferred Stock (the “Preferred Stock”) at a price of $25.00 per share, resulting in net proceeds of $242.0 million after issuance costs.  The Preferred Stock is recorded net of issuance costs within equity on our Consolidated Balance Sheets, and accrues a quarterly dividend at an annual rate of 6.375%.  The dividend is paid in arrears in preference to dividends on our common stock, and reduces net income available to common stockholders, and therefore, earnings per share.
	The Preferred Stock does not have a stated maturity date but we may redeem the Preferred Stock after February 12, 2018, for $25.00 per share plus all accrued and unpaid dividends.  We may redeem the Preferred Stock prior to February 12, 2018, in limited circumstances that preserve ownership limits and/or our status as a REIT, as well as during certain circumstances surrounding a change of control.  Upon certain circumstances surrounding a change of control, holders of Preferred Stock may elect to convert each share of their Preferred Stock into a number of shares of GGP common stock equivalent to $25.00 plus accrued and unpaid dividends, but not to exceed a cap of 2.4679 common shares (subject to certain adjustments related to GGP common share splits, subdivisions, or combinations).
	Our Board of Directors declared preferred stock dividends during 2014 and 2013 as follows:
	Declaration Date		Record Date		Payment Date		Dividend Per Share
	2014
	15-May		16-Jun		July 1, 2014		$	0.3984
	26-Feb		17-Mar		1-Apr-14		0.3984
	2013
	28-Oct		13-Dec		January 2, 2014		$	0.3984
	29-Jul		13-Sep		October 1, 2013		0.3984
	10-May		14-Jun		July 1, 2013		0.3984
	4-Mar		15-Mar		April 1, 2013		0.2125

EARNINGS_PER_SHARE

EARNINGS PER SHARE	6 Months Ended
	Jun. 30, 2014
Earnings Per Share [Abstract]	'
EARNINGS PER SHARE	'
	EARNINGS PER SHARE
	Basic earnings per share (“EPS”) is computed by dividing net income available to common stockholders by the weighted-average number of common shares outstanding.  Diluted EPS is computed after adjusting the numerator and denominator of the basic EPS computation for the effects of all potentially dilutive common shares.  The dilutive effect of the Warrants are computed using the “if-converted” method and the dilutive effect of options and their equivalents (including fixed awards and nonvested stock issued under stock-based compensation plans), is computed using the “treasury” method.
	Information related to our EPS calculations is summarized as follows:
		Three Months Ended June 30,						Six Months Ended June 30,
		2014			2013			2014			2013
	Numerators - Basic and Diluted:
	Income from continuing operations	$	56,423		$	217,263		$	115,887		$	191,094
	Preferred Stock dividends	(3,984		)	(3,984		)	(7,968		)	(6,109		)
	Allocation to noncontrolling interests	(2,687		)	(4,551		)	(6,175		)	(7,208		)
	Income from continuing operations - attributable to common stockholders	49,752			208,728			101,744			177,777
	Discontinued operations	120,666			(3,340		)	193,090			14,091
	Allocation to noncontrolling interests	(678		)	3			(1,042		)	(128		)
	Discontinued operations - net of noncontrolling interests	119,988			(3,337		)	192,048			13,963
	Net income	177,089			213,923			308,977			205,185
	Preferred Stock dividends	(3,984		)	(3,984		)	(7,968		)	(6,109		)
	Allocation to noncontrolling interests	(3,365		)	(4,548		)	(7,217		)	(7,336		)
	Net income attributable to common stockholders	$	169,740		$	205,391		$	293,792		$	191,740
	Denominators:
	Weighted-average number of common shares outstanding - basic	883,763			939,434			889,975			939,353
	Effect of dilutive securities	56,962			50,027			54,408			3,552
	Weighted-average number of common shares outstanding - diluted	940,725			989,461			944,383			942,905
	Anti-dilutive Securities:
	Effect of Preferred Units	5,506			5,526			5,506			5,526
	Effect of Common Units	4,834			6,417			4,834			6,495
	Effect of Stock Options	—			—			—			—
	Effect of Warrants	—			—			—			48,173
		10,340			11,943			10,340			60,194
	For the three and six months ended June 30, 2014, dilutive options and potentially dilutive shares related to the Warrants are included in the denominator of EPS. For the three and six months ended June 30, 2013, options are included in the denominator of diluted EPS. Warrants were dilutive for the three months ended June 30, 2013, but were anti-dilutive for the six months ended June 30, 2013, and as such, their effect has not been included in the calculation of diluted net loss per share.
	Outstanding Common Units have been excluded from the diluted EPS calculation for all periods presented because including such Common Units would also require that the share of GGPOP income attributable to such Common Units be added back to net income therefore resulting in no effect on EPS. Outstanding Preferred Units have been excluded from the diluted EPS calculation for all periods presented because including the Preferred Units would also require that the Preferred Unit dividend be added back to the net income, resulting in them being anti-dilutive.
	During the year ended December 31, 2013, GGPOP repurchased 28,345,108 shares of GGP’s common stock for $566.9 million. These shares are presented as Common stock in treasury, at cost, on our Consolidated Balance Sheets.  Accordingly, these shares have been excluded from the calculation of EPS.  In addition, GGPOP was issued 27,459,195 shares of GGP common stock on March 26, 2013, as a result of GGPOP’s purchase and subsequent exercising of the Fairholme and Blackstone A and B Warrants.  These shares are presented as issued, but not outstanding on our Consolidated Balance Sheets.  Accordingly, these shares have been excluded from the calculation of EPS.
	On February 10, 2014, GGPOP repurchased 27,624,282 shares of GGP’s common stock for $555.8 million. These shares are presented as Common stock in treasury, at cost, on our Consolidated Balance Sheets.  Accordingly, these shares have been excluded from the calculation of EPS.
	On May 1, 2014, the shares of GGP common stock owned by GGPOP were contributed to GGPN, and as a result of these transactions, GGPN owns an aggregate of 83,428,585 shares of GGP common stock as of June 30, 2014, of which 55,969,390 are shown as treasury stock and 27,459,195 are shown as issued, but not outstanding on our Consolidated Balance Sheets.

STOCKBASED_COMPENSATION_PLANS

STOCK-BASED COMPENSATION PLANS	6 Months Ended
	Jun. 30, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'
STOCK-BASED COMPENSATION PLANS	'
	STOCK-BASED COMPENSATION PLANS
	The General Growth Properties, Inc. 2010 Equity Plan (the ‘‘Equity Plan’’) reserved for issuance of 4% of outstanding shares on a fully diluted basis. The Equity Plan provides for grants of nonqualified stock options, incentive stock options, stock appreciation rights, restricted stock, other stock-based awards and performance-based compensation (collectively, the ‘‘Awards’’). Directors, officers and other employees of GGP’s and its subsidiaries and affiliates are eligible for the Awards.  The Equity Plan is not subject to the Employee Retirement Income Security Act of 1974, as amended. No participant may be granted more than 4,000,000 shares, or the equivalent dollar value of such shares, in any year. Options granted under the Equity Plan will be designated as either nonqualified stock options or incentive stock options. An option granted as an incentive stock option will, to the extent it fails to qualify as an incentive stock option, be treated as a nonqualified option. The exercise price of an option may not be less than the fair value of a share of GGP’s common stock on the date of grant. The term of each option will be determined prior to the date of grant, but may not exceed 10 years.
	Compensation expense related to stock-based compensation plans for the three months ended June 30, 2014, and 2013 is summarized in the following table:
		Three Months Ended June 30,						Six Months Ended June 30,
		2014			2013			2014				2013
	Stock options - Property management and other costs	$	1,792		$	1,106		$	3,997			$	2,335
	Stock options - General and administrative	3,574			2,278			8,270				4,278
	Restricted stock - Property management and other costs	446			389			867				814
	Restricted stock - General and administrative	279			1,977			555				3,954
	Total	$	6,091		$	5,750		$	13,689			$	11,381
	The following tables summarize stock option activity for the Equity Plan for GGP for the three months ended June 30, 2014, and 2013:
		2014					2013
		Shares		Weighted Average			Shares			Weighted Average
				Exercise						Exercise
				Price						Price
	Stock options Outstanding at January 1,	21,565,281		$	17.28		9,692,499			$	13.59
	Granted	50,000		22.41			5,901,108			19.24
	Exercised	(83,724	)	15.78			(285,491	)		14.29
	Forfeited	(244,346	)	19.06			(211,510	)		15.25
	Expired	(8,102	)	14.39			(14,279	)		14.13
	Stock options Outstanding at June 30,	21,279,109		$	17.28		15,082,327			$	15.76
	There was no significant restricted stock activity for the three months ended June 30, 2014, and 2013.

ACCOUNTS_AND_NOTES_RECEIVABLE_

ACCOUNTS AND NOTES RECEIVABLE, NET	6 Months Ended
	Jun. 30, 2014
Receivables [Abstract]	'
ACCOUNTS AND NOTES RECEIVABLE, NET	'
	ACCOUNTS AND NOTES RECEIVABLE, NET
	The following table summarizes the significant components of Accounts and notes receivable, net.
		June 30, 2014			December 31, 2013
	Trade receivables	$	113,811		$	123,522
	Notes receivable	278,728			179,559
	Straight-line rent receivable	214,033			190,332
	Other accounts receivable	4,944			3,377
	Total Accounts and notes receivable	611,516			496,790
	Provision for doubtful accounts	(17,505		)	(17,891		)
	Total Accounts and notes receivable, net	$	594,011		$	478,899
	Notes receivable includes a $156.4 million note receivable issued to Rique Empreendimentos e Participacoes Ltda. (“Rique”) in conjunction with our sale of Aliansce Shopping Centers, S.A. (“Aliansce”) to Rique and Canada Pension Plan Investment Board on September 30, 2013.  The note receivable is denominated in Brazilian Reais, bears interest at an effective interest rate of approximately 14%, is collateralized by shares of common stock in Aliansce, and requires annual principal and interest payments over the 5 years term.  We recognize the impact of changes in the exchange rate on the note receivable as Gain or loss on foreign currency in our Consolidated Statements of Comprehensive Income.
	Also included within notes receivable is an $85.3 million note receivable from our joint venture partner related to the acquisition of 685 5th Avenue in New York City (Note 3). The note receivable bears interest at an interest rate of 7.5%, is collateralized by our partner's ownership interest in the joint venture, and matures on June 27, 2024.

PREPAID_EXPENSES_AND_OTHER_ASS

PREPAID EXPENSES AND OTHER ASSETS	6 Months Ended
	Jun. 30, 2014
Prepaid Expense and Other Assets [Abstract]	'
PREPAID EXPENSES AND OTHER ASSETS	'
	PREPAID EXPENSES AND OTHER ASSETS
	The following table summarizes the significant components of Prepaid expenses and other assets.
		June 30, 2014							December 31, 2013
		Gross Asset		Accumulated			Balance		Gross Asset		Accumulated			Balance
				Amortization							Amortization
	Intangible assets:
	Above-market tenant leases, net	940,441		(485,654		)	$	454,787	1,022,398		(478,998		)	$	543,400
	Below-market ground leases, net	163,179		(15,720		)	$	147,459	164,017		(13,597		)	$	150,420
	Real estate tax stabilization agreement, net	111,506		(22,990		)	$	88,516	111,506		(19,834		)	$	91,672
	Total intangible assets	$	1,215,126	$	(524,364	)	$	690,762	$	1,297,921	$	(512,429	)	$	785,492
	Remaining Prepaid expenses and other assets:
	Security and escrow deposits						99,426							145,999
	Prepaid expenses						53,620							23,283
	Other non-tenant receivables						17,445							25,988
	Deferred tax, net of valuation allowances						2,576							906
	Other						9,587							13,901
	Total remaining Prepaid expenses and other assets						182,654							210,077
	Total Prepaid expenses and other assets						$	873,416						$	995,569

ACCOUNTS_PAYABLE_AND_ACCRUED_E

ACCOUNTS PAYABLE AND ACCRUED EXPENSES	6 Months Ended
	Jun. 30, 2014
Payables and Accruals [Abstract]	'
ACCOUNTS PAYABLE AND ACCRUED EXPENSES	'
	ACCOUNTS PAYABLE AND ACCRUED EXPENSES
	The following table summarizes the significant components of Accounts payable and accrued expenses.
		June 30, 2014							December 31, 2013
		Gross Liability		Accumulated			Balance		Gross Liability		Accumulated			Balance
				Accretion							Accretion
	Intangible liabilities:
	Below-market tenant leases, net	571,131		(267,553		)	$	303,578	622,710		(271,215		)	$	351,495
	Above-market headquarters office leases, net	15,267		(5,999		)	$	9,268	15,268		(5,130		)	$	10,138
	Above-market ground leases, net	9,127		(1,339		)	$	7,788	9,756		(1,181		)	$	8,575
	Total intangible liabilities	$	595,525	$	(274,891	)	$	320,634	$	647,734	$	(277,526	)	$	370,208
	Remaining Accounts payable and accrued expenses:
	Accrued interest						54,326							58,777
	Accounts payable and accrued expenses						91,936							102,246
	Accrued real estate taxes						94,524							92,663
	Deferred gains/income						91,149							115,354
	Accrued payroll and other employee liabilities						40,282							34,006
	Construction payable						63,180							103,988
	Tenant and other deposits						21,991							21,434
	Insurance reserve liability						17,137							16,643
	Capital lease obligations						12,392							12,703
	Conditional asset retirement obligation liability						9,153							10,424
	Uncertain tax position liability						7,077							5,536
	Other						15,605							27,013
	Total remaining Accounts payable and accrued expenses						518,752							600,787
	Total Accounts payable and accrued expenses						$	839,386						$	970,995

LITIGATION

LITIGATION	6 Months Ended
	Jun. 30, 2014
LITIGATION	'
LITIGATION	'
	LITIGATION
	In the normal course of business, from time to time, we are involved in legal proceedings relating to the ownership and operations of our properties. In management’s opinion, the liabilities, if any, that may ultimately result from such legal actions are not expected to have a material effect on our consolidated financial position, results of operations or liquidity.
	Urban Litigation
	In October 2004, certain limited partners (the "Urban Plaintiffs") of Urban Shopping Centers, L.P. ("Urban") filed a lawsuit against Urban's general partner, Head Acquisition, L.P. ("Head"), as well as The Rouse Company, LP ("TRCLP"), Simon Property Group, Inc., Westfield America, Inc., and various of their affiliates, including Head's general partners (collectively, the "Urban Defendants"), in Circuit Court in Cook County, Illinois. GGP, GGPOP and other affiliates were later included as Urban Defendants. The lawsuit alleged, among other things, that the Urban Defendants breached the Urban partnership agreement, unjustly enriched themselves through misappropriation of partnership opportunities, failed to grow the partnership, breached their fiduciary duties, and tortiously interfered with several contractual relationships. The plaintiffs sought relief in the form of unspecified monetary damages and equitable relief requiring, among other things, the Urban Defendants, including GGP, Inc. and its affiliates, to engage in certain future transactions through the Urban Partnership.  On May 19, 2014 the Company settled the litigation and recorded a loss of $17.9 million, which is included in General and administrative expense in our Consolidated Statements of Comprehensive Income. The Company invested $60.0 million in Urban and contributed, at fair value, a 5.6% interest in three assets in exchange for preferred equity interests. The Company has no obligation to engage in future activity through Urban other than transactions associated with partnership assets.
	Tax Indemnification Liability
	Pursuant to the Investment Agreements, the Company has indemnified HHC from and against 93.75% of any and all losses, claims, damages, liabilities and reasonable expenses to which HHC and its subsidiaries become subject, in each case solely to the extent directly attributable to MPC Taxes (as defined in the Investment Agreements) in an amount up to $303.8 million.  Under certain circumstances, the Company agreed to be responsible for interest or penalties attributable to such MPC Taxes in excess of the $303.8 million.  The IRS disagrees with the method used to report gains for income tax purposes that are the subject of the MPC taxes.  As a result of this disagreement, The Howard Hughes Company, LLC and Howard Hughes Properties, Inc. filed petitions in the United States Tax Court on May 6, 2011, contesting this liability for the 2007 and 2008 years and a trial was held in early November 2012.  The Tax Court rendered its opinion on June 2, 2014, in favor of the IRS. The Company is in the process of evaluating its course of action, but regardless of whether or not the Company decides to appeal, the Company may pay approximately $202 million in tax and related interest in accordance with the Investment Agreements in the third or fourth quarter of 2014. The Internal Revenue Service has opened an audit for these two taxpayers for 2009 through 2011 with respect to MPC Taxes; however, the Company does not expect any material taxes or interest or penalties to be due for these years based on a change to the method outlined by the Tax Court.
	The Company has accrued approximately $322 million related to the tax indemnification liability on our Consolidated Balance Sheets as of June 30, 2014, and December 31, 2013.  As a result of the Company's consideration of the risks associated with this matter, including the timing of recognition of indemnified and non-indemnified income by HHC, the use of specific deductions, and the ultimate amount of indemnified income recognized, as well as discussions with counsel, the Company believes that the aggregate liability recorded of approximately $322 million represents management’s best estimate of our liability as of June 30, 2014, and that the probability that the Company will incur a loss in excess of this amount is remote.

COMMITMENTS_AND_CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 2014
Commitments and Contingencies Disclosure [Abstract]	'
COMMITMENTS AND CONTINGENCIES	'
	COMMITMENTS AND CONTINGENCIES
	We lease land or buildings at certain properties from third parties. The leases generally provide us with a right of first refusal in the event of a proposed sale of the property by the landlord. Rental payments are expensed as incurred and have, to the extent applicable, been straight-lined over the term of the lease. The following is a summary of our contractual rental expense as presented in our Consolidated Statements of Comprehensive Income:
		Three Months Ended June 30,				Six Months Ended June 30,
		2014		2013		2014		2013
		(Dollars in thousands)
	Contractual rent expense, including participation rent	$	3,193	$	3,679	$	6,452	$	6,957
	Contractual rent expense, including participation rent and excluding amortization of above and below-market ground leases and straight-line rent	2,039		2,456		4,142		4,512
	See Note 16 for our obligations related to uncertain tax positions and for disclosure of additional contingencies.

SUBSEQUENT_EVENTS_Notes

SUBSEQUENT EVENTS (Notes)	6 Months Ended
	Jun. 30, 2014
Subsequent Events [Abstract]	'
SUBSEQUENT EVENTS	'
	SUBSEQUENT EVENTS
	On August 1, 2014, we amended our $1.4 billion corporate loan secured by cross-collateralized mortgages on 14 properties.  This amendment lowered the interest rate on the loan from LIBOR plus 2.50% to LIBOR plus 1.75%.  The loan matures on April 26, 2016, and then after, has two one-year maturity date extension options.
	During July, 2014, we obtained a $100 million loan at one property with an interest rate of LIBOR plus 2.50%. In addition, we repaid $81.8 million on our Facility. No amounts remain drawn on the Facility.

SUMMARY_OF_SIGNIFICANT_ACCOUNT1

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2014
Accounting Policies [Abstract]	'
Principles of Consolidation and Basis of Presentation	'
	Principles of Consolidation and Basis of Presentation
	The accompanying consolidated financial statements include the accounts of GGP, our subsidiaries and joint ventures in which we have a controlling interest. For consolidated joint ventures, the noncontrolling partner’s share of the assets, liabilities and operations of the joint ventures (generally computed as the joint venture partner’s ownership percentage) is included in noncontrolling interests in consolidated real estate affiliates as permanent equity of the Company. Intercompany balances and transactions have been eliminated.
	We operate in a single reportable segment which includes the operation, development and management of retail and other rental properties, primarily regional malls.  Our portfolio is targeted to a range of market sizes and consumer tastes.  Each of our operating properties is considered a separate operating segment, as each property earns revenues and incurs expenses, individual operating results are reviewed and discrete financial information is available.  We do not distinguish or group our consolidated operations based on geography, size or type. Our operating properties have similar economic characteristics and provide similar products and services to our tenants. Further, all material operations are within the United States and no customer or tenant comprises more than 10% of consolidated revenues.  As a result, the Company’s operating properties are aggregated into a single reportable segment.
Reclassifications	'
	Reclassifications
	Certain prior period amounts included in the Consolidated Statements of Comprehensive Income and related footnotes associated with properties we have disposed of have been reclassified to discontinued operations for all periods presented. Additionally, $18.4 million of accrued interest related to the Tax indemnification liability (Note 16) was reclassified from Accounts payable and accrued expenses to Tax indemnification liability in our Consolidated Balance Sheets presented as of December 31, 2013, as presented herein.
Properties	'
	Properties
	Real estate assets are stated at cost less any provisions for impairments.  Expenditures for significant betterments and improvements are capitalized.  Maintenance and repairs are charged to expense when incurred.  Construction and improvement costs incurred in connection with the development of new properties or the redevelopment of existing properties are capitalized.  Real estate taxes, interest costs, and internal costs associated with leasing and development overhead incurred during construction periods are capitalized.  Capitalization is based on qualified expenditures and interest rates.  Capitalized real estate taxes, interest costs, and internal costs associated with leasing and development overhead are amortized over lives which are consistent with the related assets.
	Pre-development costs, which generally include legal and professional fees and other third-party costs directly related to the construction assets, are capitalized as part of the property being developed.  In the event a development is no longer deemed to be probable of occurring, the capitalized costs are expensed (see also our impairment policies in this note below).
	We periodically review the estimated useful lives of our properties, and may adjust them as necessary.  The estimated useful lives of our properties range from 10 - 45 years.
	Depreciation or amortization expense is computed using the straight-line method based upon the following estimated useful lives:
		Years
	Buildings and improvements	Oct-45
	Equipment and fixtures	20-Mar
	Tenant improvements	Shorter of useful life or applicable lease term
Acquisitions of Operating Properties	'
	Acquisitions of Operating Properties
	Acquisitions of properties are accounted for utilizing the acquisition method of accounting and, accordingly, the results of operations of acquired properties have been included in the results of operations from the respective dates of acquisition.  Estimates of future cash flows and other valuation techniques are used to allocate the purchase price of acquired property between land, buildings and improvements, equipment, assumed debt liabilities and identifiable intangible assets and liabilities such as amounts related to in-place tenant leases, acquired above and below-market tenant and ground leases, and tenant relationships.
	Identifiable intangible assets and liabilities are calculated for above-market and below-market tenant and ground leases where we are either the lessor or the lessee. The difference between the contractual rental rates and our estimate of market rental rates is measured over a period equal to the remaining non-cancelable term of the leases, including significantly below-market renewal options for which exercise of the renewal option appears to be reasonably assured.  The remaining term of leases with renewal options at terms significantly below market reflect the assumed exercise of such below-market renewal options and assume the amortization period would coincide with the extended lease term.
	The gross asset balances of the in-place value of tenant leases are included in buildings and equipment in our Consolidated Balance Sheets.
		Gross Asset			Accumulated			Net Carrying
					Amortization			Amount
	As of June 30, 2014
	Tenant leases:
	In-place value	$	696,009		$	(384,689	)	$	311,320
	As of December 31, 2013
	Tenant leases:
	In-place value	$	797,311		$	(420,370	)	$	376,941
	The above-market tenant leases and below-market ground leases are included in Prepaid expenses and other assets (Note 14); the below-market tenant leases, above-market ground leases and above-market headquarters office lease are included in Accounts payable and accrued expenses (Note 15) in our Consolidated Balance Sheets.
	Amortization/accretion of all intangibles, including the intangibles in Note 14 and Note 15, had the following effects on our Income (loss) from continuing operations:
		Three Months Ended June 30,						Six months ended June 30,
		2014			2013			2014			2013
	Amortization/accretion effect on continuing operations	$	(53,301	)	$	(57,538	)	$	(105,780	)	$	(125,520	)
	Future amortization/accretion of all intangibles, including the intangibles in Note 14 and Note 15, is estimated to decrease results from continuing operations as follows:
	Year		Amount
	2014 Remaining		$	83,756
	2015		141,551
	2016		109,824
	2017		82,224
	2018		54,049
Management Fees and Other Corporate Revenues	'
	Management Fees and Other Corporate Revenues
	Management fees and other corporate revenues primarily represent management and leasing fees, development fees, financing fees, and fees for other ancillary services performed for the benefit of certain of the Unconsolidated Real Estate Affiliates.  Management fees are reported at 100% of the revenue earned from the joint venture in Management fees and other corporate revenues on our Consolidated Statements of Comprehensive Income.  Our share of the management fee expense incurred by the Unconsolidated Real Estate Affiliates is reported within Equity in income of Unconsolidated Real Estate Affiliates on our Consolidated Statements of Comprehensive Income and in Property management and other costs in the Condensed Combined Statements of Income in Note 6.  The following table summarizes the management fees from affiliates and our share of the management fee expense:
		Three Months Ended June 30,						Six Months Ended June 30,
		2014			2013			2014			2013
	Management fees from affiliates	$	17,717		$	17,281		$	34,403		$	33,139
	Management fee expense	(6,571		)	(6,146		)	(13,248		)	(12,117		)
	Net management fees from affiliates	$	11,146		$	11,135		$	21,155		$	21,022
Impairment	'
	Impairment
	Operating properties
	We regularly review our consolidated properties for potential impairment indicators whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. Impairment indicators are assessed separately for each property and include, but are not limited to, significant decreases in real estate property net operating income, significant decreases in occupancy percentage, debt maturities, management’s intent with respect to the properties and prevailing market conditions.
	If an indicator of potential impairment exists, the property is tested for recoverability by comparing its carrying amount to the estimated future undiscounted cash flows. Although the carrying amount may exceed the estimated fair value of certain properties, a real estate asset is only considered to be impaired when its carrying amount cannot be recovered through estimated future undiscounted cash flows.  To the extent an impairment provision is determined to be necessary, the excess of the carrying amount of the property over its estimated fair value is expensed to operations.  In addition, the impairment provision is allocated proportionately to adjust the carrying amount of the asset group.  The adjusted carrying amount, which represents the new cost basis of the property, is depreciated over the remaining useful life of the property.
	Although we may market a property for sale, there can be no assurance that the transaction will be complete until the sale is finalized.  However, GAAP requires us to utilize the Company’s expected holding period of our properties when assessing recoverability.  If we cannot recover the carrying value of these properties within the planned holding period, we will estimate the fair values of the assets and record impairment charges for properties when the estimated fair value is less than their carrying value.
	Impairment indicators for pre-development costs, which are typically costs incurred during the beginning stages of a potential development and construction in progress, are assessed by project and include, but are not limited to, significant changes in the Company’s plans with respect to the project, significant changes in projected completion dates, tenant demand, anticipated revenues or cash flows, development costs, market factors and sustainability of development projects.
	Impairment charges are recorded in the Consolidated Statements of Comprehensive Income when the carrying value of a property is not recoverable and it exceeds the estimated fair value of the property, which can occur in accounting periods preceding disposition and / or in the period of disposition.
	There were no provisions for impairment for the three and six months ended June 30, 2014 and 2013, included in continuing operations of our Consolidated Statements of Comprehensive Income. There was no provision for impairment for the three and six months ended June 30, 2014, in Discontinued operations in our Consolidated Statements of Comprehensive Income. During the six months ended June 30, 2013, we recorded $5.0 million of impairment charges in Discontinued operations, net in our Consolidated Statements of Comprehensive Income, which was incurred as a result of the sale of two operating properties. One of the operating properties was previously transferred to a special servicer, and was sold in a lender-directed sale in full satisfaction of the related debt. This resulted in the recognition of a gain on extinguishment of debt of $25.9 million (Note 4). The other operating property related to a regional mall where the sales price of the property was lower than its carrying value.
	Investment in Unconsolidated Real Estate Affiliates
	A series of operating losses of an investee or other factors may indicate that an other-than-temporary decline in value of our investment in an Unconsolidated Real Estate Affiliate has occurred. The investment in each of the Unconsolidated Real Estate Affiliates is evaluated for valuation declines below the carrying amount.  Accordingly, in addition to the property-specific impairment analysis that we perform for such joint ventures (as part of our operating property impairment process described above), we also considered whether there were other-than-temporary declines with respect to the carrying values of our Unconsolidated Real Estate Affiliates. No impairments related to our investments in Unconsolidated Real Estate Affiliates were recognized for the three and six months ended June 30, 2014, and 2013.
Fair Value Measurements	'
	Fair Value Measurements (Note 5)
	The accounting principles for fair value measurements establish a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value.  These tiers include:
	•	Level 1 - defined as observable inputs such as quoted prices for identical assets or liabilities in active markets;
	•	Level 2 - defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and
	•	Level 3 - defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions.
	The impairment section above includes a discussion of all impairments recognized during the three and six months ended June 30, 2014, and 2013, which were based on Level 2 inputs.  Note 5 includes a discussion of properties measured at fair value on a non-recurring basis using Level 2 and Level 3 inputs and the fair value of debt, which is estimated on a recurring basis using Level 2 and Level 3 inputs.  Note 9 includes a discussion of our outstanding Warrants, which were measured at fair value using Level 3 inputs until the Warrant agreement was amended on March 28, 2013.  Note 10 includes a discussion of certain redeemable noncontrolling interests that are measured at fair value using Level 1 inputs.
Recently Issued Accounting Pronouncements	'
	Recently Issued Accounting Pronouncements
	Effective January 1, 2015 with early adoption permitted January 1, 2014 the definition of discontinued operations has been revised to limit what qualifies for this classification and presentation to disposals of components of a company that represent strategic shifts that have (or will have) a major effect on the company’s operations and financial results. Required expanded disclosures for disposals or disposal groups that qualify for discontinued operations are intended to provide users of financial statements with enhanced information about the assets, liabilities, revenues and expenses of such discontinued operations. In addition, in accordance with this pronouncement, companies are required to disclose the pretax profit or loss of an individually significant component that does not qualify for discontinued operations treatment. Pursuant to its terms, we have elected to adopt this pronouncement effective January 1, 2015. This definition will be applied prospectively after the adoption and is anticipated to substantially reduce the number of transactions, going forward, that qualify for discontinued operations as compared to historical results.
	Effective January 1, 2017, companies will be required to apply a five-step model in accounting for revenue arising from contracts with customers. The core principle of the revenue model is that a company recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. Lease contracts will be excluded from this revenue recognition criteria; however, the sale of real estate will be required to follow the new model. Expanded quantitative and qualitative disclosures regarding revenue recognition will be required for contracts that are subject to this pronouncement. The Company is evaluating the potential impact of this pronouncement on its consolidated financial statements.
Use of Estimates	'
	Use of Estimates
	The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions. These estimates and assumptions affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. For example, estimates and assumptions have been made with respect to fair values of assets and liabilities for purposes of applying the acquisition method of accounting, the useful lives of assets, capitalization of development and leasing costs, provision for income taxes, recoverable amounts of receivables and deferred taxes, initial valuations and related amortization periods of deferred costs and intangibles, particularly with respect to acquisitions, impairment of long-lived assets, litigation related accruals and disclosures, and fair value of debt. Actual results could differ from these and other estimates.

SUMMARY_OF_SIGNIFICANT_ACCOUNT2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	6 Months Ended
	Jun. 30, 2014
Accounting Policies [Abstract]	'
Schedule of estimated useful lives of properties	'
	Depreciation or amortization expense is computed using the straight-line method based upon the following estimated useful lives:
		Years
	Buildings and improvements	Oct-45
	Equipment and fixtures	20-Mar
	Tenant improvements	Shorter of useful life or applicable lease term
Schedule of gross asset balances of in-place value of tenant leases	'
	The gross asset balances of the in-place value of tenant leases are included in buildings and equipment in our Consolidated Balance Sheets.
		Gross Asset			Accumulated			Net Carrying
					Amortization			Amount
	As of June 30, 2014
	Tenant leases:
	In-place value	$	696,009		$	(384,689	)	$	311,320
	As of December 31, 2013
	Tenant leases:
	In-place value	$	797,311		$	(420,370	)	$	376,941
Schedule of effects of amortization/accretion of all intangibles on Income (loss) from continuing operations	'
	Amortization/accretion of all intangibles, including the intangibles in Note 14 and Note 15, had the following effects on our Income (loss) from continuing operations:
		Three Months Ended June 30,						Six months ended June 30,
		2014			2013			2014			2013
	Amortization/accretion effect on continuing operations	$	(53,301	)	$	(57,538	)	$	(105,780	)	$	(125,520	)
Schedule of future amortization/accretion of all intangibles, estimated to decrease results from continuing operations	'
	Future amortization/accretion of all intangibles, including the intangibles in Note 14 and Note 15, is estimated to decrease results from continuing operations as follows:
	Year		Amount
	2014 Remaining		$	83,756
	2015		141,551
	2016		109,824
	2017		82,224
	2018		54,049
Summary of management fees from affiliates and entity's share of management fee expense	'
	The following table summarizes the management fees from affiliates and our share of the management fee expense:
		Three Months Ended June 30,						Six Months Ended June 30,
		2014			2013			2014			2013
	Management fees from affiliates	$	17,717		$	17,281		$	34,403		$	33,139
	Management fee expense	(6,571		)	(6,146		)	(13,248		)	(12,117		)
	Net management fees from affiliates	$	11,146		$	11,135		$	21,155		$	21,022

ACQUISITIONS_AND_JOINT_VENTURE1

ACQUISITIONS AND JOINT VENTURE ACTIVITY (Table)	6 Months Ended
	Jun. 30, 2014
ACQUISITIONS AND JOINT VENTURE ACTIVITY	'
Schedule of allocation of purchase price to net assets acquired at the date of acquisition	'
	The following table summarizes the allocation of the purchase price to the net assets acquired at the date of acquisition. These allocations were based on the relative fair values of the assets acquired and liabilities assumed.
	Investment in real estate, including intangible assets and liabilities	$	186,627
	Fair value of debt	(77,204		)
	Net working capital	1,470
	Net assets acquired	$	110,893
Quail Springs Mall	'
ACQUISITIONS AND JOINT VENTURE ACTIVITY	'
Schedule of gain calculation	'
	The table below summarizes the gain calculation:
	Total fair value of net assets acquired	$	110,893
	Previous investment in Quail Springs Mall	(35,610		)
	Cash paid to acquire our joint venture partners' interest	(55,507		)
	Gains from changes in control of investment properties	$	19,776
Grand Canal Shoppes Holdings, LLC	'
ACQUISITIONS AND JOINT VENTURE ACTIVITY	'
Schedule of gain calculation	'
	The table below summarizes the gain calculation:
	Cash received from our joint venture partner	$	411,476
	Proportionate share of previous investment in The Grand Canal Shoppes and The Shoppes at The Palazzo	(211,468		)
	Gains from changes in control of investment properties	$	200,008

DISCONTINUED_OPERATIONS_AND_GA1

DISCONTINUED OPERATIONS AND GAINS (LOSSES) ON DISPOSITIONS OF OPERATING PROPERTIES (Tables)	6 Months Ended
	Jun. 30, 2014
Discontinued Operations and Disposal Groups [Abstract]	'
Summary of operations of properties included in discontinued operations	'
	The following table summarizes the operations of the properties included in discontinued operations.
		Three Months Ended June 30,						Six Months Ended June 30,
		2014			2013			2014			2013
	Retail and other revenue	$	2,707		$	14,176		$	7,075		$	28,928
	Total revenues	2,707			14,176			7,075			28,928
	Retail and other operating expenses	(507		)	10,817			1,835			22,475
	Provisions for impairment	—			—			—			4,975
	Total expenses	(507		)	10,817			1,835			27,450
	Operating income	3,214			3,359			5,240			1,478
	Interest expense, net	(9		)	(6,257		)	(984		)	(12,516		)
	Gains (losses) on dispositions	117,461			(442		)	122,154			(765		)
	Net income (loss) from operations	120,666			(3,340		)	126,410			(11,803		)
	Gain on debt extinguishment	—			—			66,680			25,894
	Net income from discontinued operations	$	120,666		$	(3,340	)	$	193,090		$	14,091

FAIR_VALUE_Tables

FAIR VALUE (Tables)	6 Months Ended
	Jun. 30, 2014
Fair Value Disclosures [Abstract]	'
Schedule of carrying amount and estimates of fair value of debt	'
	Management’s estimates of fair value are presented below for our debt as of June 30, 2014 and December 31, 2013.
		June 30, 2014				December 31, 2013
		Carrying Amount (1)		Estimated Fair		Carrying Amount (1)		Estimated Fair
				Value				Value
	Fixed-rate debt	$	13,711,131	$	14,388,366	$	13,919,820	$	13,957,952
	Variable-rate debt	2,198,092		2,239,661		1,752,617		1,787,139
		$	15,909,223	$	16,628,027	$	15,672,437	$	15,745,091
	(1) Includes market rate adjustments of $19.1 million and $0.9 million as of June 30, 2014 and December 31, 2013, respectively.

UNCONSOLIDATED_REAL_ESTATE_AFF1

UNCONSOLIDATED REAL ESTATE AFFILIATES (Tables)	6 Months Ended
	Jun. 30, 2014
UNCONSOLIDATED REAL ESTATE AFFILIATES	'
Schedule of summarized financial information for Unconsolidated Real Estate Affiliates	'
	The following is summarized financial information for all of our Unconsolidated Real Estate Affiliates.
		June 30, 2014				December 31, 2013
	Condensed Combined Balance Sheets - Unconsolidated Real Estate Affiliates
	Assets:
	Land	$	1,055,127			$	1,046,354
	Buildings and equipment	9,280,708				8,670,976
	Less accumulated depreciation	(2,432,538		)		(2,301,054		)
	Construction in progress	59,640				46,339
	Net property and equipment	7,962,937				7,462,615
	Cash and cash equivalents	298,870				260,405
	Accounts and notes receivable, net	170,099				187,533
	Deferred expenses, net	268,424				254,949
	Prepaid expenses and other assets	203,975				147,182
	Total assets	$	8,904,305			$	8,312,684
	Liabilities and Owners’ Equity:	\
	Mortgages, notes and loans payable	$	6,838,981			$	6,503,686
	Accounts payable, accrued expenses and other liabilities	322,671				324,620
	Cumulative effect of foreign currency translation (“CFCT”)	(17,036		)		(22,896		)
	Owners’ equity, excluding CFCT	1,759,689				1,507,274
	Total liabilities and owners’ equity	$	8,904,305			$	8,312,684
	Investment In and Loans To/From Unconsolidated Real Estate Affiliates, Net:
	Owners’ equity	$	1,742,653			$	1,484,378
	Less: joint venture partners’ equity	(889,809		)		(760,804		)
	Plus: excess investment/basis differences	1,709,706				1,666,719
	Investment in and loans to/from Unconsolidated Real Estate Affiliates, net	$	2,562,550			$	2,390,293
	Reconciliation - Investment In and Loans To/From Unconsolidated Real Estate Affiliates:
	Asset - Investment in and loans to/from Unconsolidated Real Estate Affiliates	$	2,580,966			$	2,407,698
	Liability - Investment in Unconsolidated Real Estate Affiliates	(18,416		)		(17,405		)
	Investment in and loans to/from Unconsolidated Real Estate Affiliates, net	$	2,562,550			$	2,390,293
			Three Months Ended June 30,							Six Months Ended June 30,
			2014				2013			2014			2013
	Condensed Combined Statements of Income - Unconsolidated Real Estate Affiliates
	Revenues:
	Minimum rents		$	212,735			$	186,713		$	398,543		$	367,398
	Tenant recoveries		87,434				83,159			174,896			159,288
	Overage rents		4,244				3,514			9,098			8,423
	Other		7,341				7,982			19,076			14,872
	Total revenues		311,754				281,368			601,613			549,981
	Expenses:
	Real estate taxes		27,003				26,094			54,686			51,609
	Property maintenance costs		8,304				7,638			20,006			16,261
	Marketing		3,223				3,388			6,790			6,529
	Other property operating costs		40,846				39,317			82,783			75,260
	Provision for doubtful accounts		227				(159		)	1,043			1,262
	Property management and other costs (1)		13,990				12,686			28,193			25,125
	General and administrative		5,326				594			5,810			1,174
	Depreciation and amortization		76,952				68,527			152,657			133,711
	Total expenses		175,871				158,085			351,968			310,931
	Operating income		135,883				123,283			249,645			239,050
	Interest income		1,301				311			2,848			566
	Interest expense		(73,523		)		(69,713		)	(146,395		)	(135,503		)
	Provision for income taxes		(91		)		(132		)	(279		)	(288		)
	Income from continuing operations		63,570				53,749			105,819			103,825
	Net income from disposed investment		—				6,319			—			18,111
	Allocation to noncontrolling interests		(13		)		(8		)	(17		)	33
	Net income attributable to the ventures		$	63,557			$	60,060		$	105,802		$	121,969
	Equity In Income of Unconsolidated Real Estate Affiliates:
	Net income attributable to the ventures		$	63,557			$	60,060		$	105,802		$	121,969
	Joint venture partners’ share of income		(34,011		)		(33,082		)	(58,224		)	(67,741		)
	Amortization of capital or basis differences		(10,226		)		(12,991		)	(21,101		)	(27,047		)
	Equity in income of Unconsolidated Real Estate Affiliates		$	19,320			$	13,987		$	26,477		$	27,181
	(1) Includes management fees charged to the unconsolidated joint ventures by GGMI and GGSI.

MORTGAGES_NOTES_AND_LOANS_PAYA1

MORTGAGES, NOTES AND LOANS PAYABLE (Tables)	6 Months Ended
	Jun. 30, 2014
Debt Disclosure [Abstract]	'
Summary of mortgages, notes and loans payable and weighted average interest rates	'
	Mortgages, notes and loans payable and the weighted-average interest rates are summarized as follows:
		June 30, 2014 (1)		Weighted-Average		December 31, 2013 (3)		Weighted-Average
				Interest Rate (2)				Interest Rate (2)
	Fixed-rate debt:
	Collateralized mortgages, notes and loans payable (4)	$	13,701,402	4.53	%	$	13,907,029	4.55	%
	Corporate and other unsecured loans	9,729		4.41	%	12,791		4.41	%
	Total fixed-rate debt	13,711,131		4.53	%	13,919,820		4.55	%
	Variable-rate debt:
	Collateralized mortgages, notes and loans payable (4)	2,116,292		2.46	%	1,700,817		2.61	%
	Revolving credit facility	81,800		1.73	%	51,800		1.74	%
	Total variable-rate debt	2,198,092		2.43	%	1,752,617		2.59	%
	Total Mortgages, notes and loans payable	$	15,909,223	4.24	%	$	15,672,437	4.33	%
	Junior Subordinated Notes	$	206,200	1.67	%	$	206,200	1.69	%
	(1) Includes net $19.1 million of debt market rate adjustments.
	(2) Represents the weighted-average interest rates on our contractual principal balances.
	(3) Includes net $0.9 million of debt market rate adjustments.
	(4) Properties provide mortgage collateral as guarantors.  $101.7 million of the fixed-rate balance and $1.4 billion of the variable-rate balance is cross-collateralized.
Schedule of terms of unsecured debt obligations	'
	We have certain unsecured debt obligations, the terms of which are described below:
		June 30, 2014 (2)		Weighted-Average		December 31, 2013 (3)		Weighted-Average
				Interest Rate				Interest Rate
	Unsecured debt:
	HHC Note (1)	$	9,993	4.41	%	$	13,179	4.41	%
	Revolving credit facility	81,800		1.73	%	51,800		1.74	%
	Total unsecured debt	$	91,793	2.02	%	$	64,979	2.28	%
	(1) Matures in December 2015.
	(2) Excludes a market rate discount of $0.3 million that decreases the total amount that appears outstanding in our Consolidated Balance Sheets.  The market rate discount amortizes as an addition to interest expense over the life of the loan.
	(3) Excludes a market rate discount of $0.4 million that decreases the total amount that appears outstanding in our Consolidated Balance Sheets.  The market rate discount amortizes as an addition to interest expense over the life of the loan.

WARRANTS_Tables

WARRANTS (Tables)	6 Months Ended
	Jun. 30, 2014
WARRANTS	'
Schedule of Warrants initially received	'
	Below is a summary of the Warrants initially received by the Plan Sponsors and Blackstone.
	Initial Warrant Holder		Number of Warrants		Initial Exercise Price
	Brookfield		57,500,000		$	10.75
	Blackstone - B (2)		2,500,000		10.75
	Fairholme (2)		41,070,000		10.5
	Pershing Square (1)		16,430,000		10.5
	Blackstone - A (2)		2,500,000		10.5
			120,000,000
	(1) On December 31, 2012, the Pershing Square Warrants were purchased by the Brookfield; Brookfield owns or manages on behalf of third parties, all outstanding Warrants.
	(2) On January 28, 2013, the Fairholme and Blackstone Warrants (A and B) were purchased by GGPOP.
Schedule of change in shares issuable upon exercise of outstanding Warrants	'
	During 2013 and 2014, the number of shares issuable upon exercise of the outstanding Warrants changed as follows:
					Exercise Price
	Record Date		Issuable Shares (1)		Brookfield and Blackstone - B		Fairholme, Pershing Square and Blackstone - A
	April 16, 2013		83,443,178		$	9.53	$	9.3
	July 16, 2013		83,945,892		9.47		9.25
	October 15, 2013		84,507,750		9.41		9.19
	December 13, 2013		85,084,392		9.34		9.12
	April 15, 2014		85,668,428		9.28		9.06
	(1) Issuable shares as of April 16, 2013 exclude the Fairholme and Blackstone A and B Warrants purchased and exercised by GGPOP (Note 11).
Summary of change in fair value of Warrants measured on a recurring basis using Level 3 inputs	'
	The following table summarizes the change in fair value of the Warrants which is measured on a recurring basis using Level 3 inputs:
		Six Months Ended June 30, 2013
	Balance as of January 1,	$	1,488,196
	Warrant liability adjustment	40,546
	Purchase of Warrants by GGPOP	(633,229		)
	Reclassification to equity	(895,513		)
	Balance as of June 30,	$	—
Summary of estimated fair value of Warrants and significant observable and unobservable inputs used in valuation	'
	The following table summarizes the estimated fair value of the Warrants and significant observable and unobservable inputs used in the valuation as of March 28, 2013:
		March 28, 2013
	Fair value of Warrants	$	895,513
	Observable Inputs
	GGP stock price per share	$	19.88
	Warrant term	4.62
	Unobservable Inputs
	Expected volatility	30		%
	Range of values considered	(15% - 65%)
	Discount for lack of marketability	3		%
	Range of values considered	(3% - 7%)

EQUITY_AND_REDEEMABLE_NONCONTR1

EQUITY AND REDEEMABLE NONCONTROLLING INTERESTS (Tables)	6 Months Ended
	Jun. 30, 2014
Equity [Abstract]	'
Schedule of activity included in allocation to noncontrolling interests	'
	The following table reflects the activity included in the allocation to noncontrolling interests.
			Three months ended June 30,							Six Months Ended June 30,
			2014				2013			2014			2013
	Distributions to preferred GGPOP units		$	(2,232	)		$	(2,336	)	$	(4,464	)	$	(4,671	)
	Net income allocation to noncontrolling interests in GGPOP from continuing operations (common units)		(973		)		(1,479		)	(1,637		)	(1,395		)
	Net income allocated to noncontrolling interest in consolidated real estate affiliates		(160		)		(733		)	(1,116		)	(1,270		)
	Allocation to noncontrolling interests		(3,365		)		(4,548		)	(7,217		)	(7,336		)
	Other comprehensive loss allocated to noncontrolling interests		163				394			148			340
	Comprehensive income allocated to noncontrolling interests		$	(3,202	)		$	(4,154	)	$	(7,069	)	$	(6,996	)
Schedule of redeemable noncontrolling interests	'
	The Common Units are convertible into common stock at approximately a one-to-one ratio at the current stock price.
			Number of Common Units for each Preferred Unit			Number of Contractual Convertible Preferred Units Outstanding as of June 30, 2014			Converted Basis to Common Units Outstanding as of June 30, 2014		Conversion Price			Redemption Value
	Series B (1)		3			1,279,632			3,991,540		$	16.6667		94,041
	Series D		1.50821			532,750			803,499		33.15188			26,637
	Series E		1.29836			502,658			652,631		38.51			25,133
														$	145,811
	(1) The conversion price of Series B preferred units is lower than the GGP June 30, 2014 closing common stock price of $23.56; therefore, the June 30, 2014 common stock price of $23.56, and an additional conversion rate of 1.0397624 shares is used to calculate the Series B redemption value.
Schedule of activity of redeemable noncontrolling interests	'
	The following table reflects the activity of the redeemable noncontrolling interests for the six months ended June 30, 2014, and 2013.
	Balance at January 1, 2013	$	268,219
	Net income	1,395
	Distributions	(1,511		)
	Redemption of GGPOP units	(3,328		)
	Other comprehensive loss	(340		)
	Fair value adjustment for noncontrolling interests in GGPOP	(839		)
	Balance at June 30, 2013	$	263,596
	Balance at January 1, 2014	$	228,902
	Net income	1,637
	Distributions	(1,450		)
	Other comprehensive loss	(148		)
	Fair value adjustment for noncontrolling interests in GGPOP	30,762
	Balance at June 30, 2014	$	259,703
Summary of dividends declared	'
	Our Board of Directors declared common stock dividends during 2014 and 2013 as follows:
	Declaration Date		Record Date		Payment Date		Dividend Per Share
	2014
	15-May		15-Jul		July 31, 2014		$	0.15
	26-Feb		15-Apr		30-Apr-14		0.15
	2013
	28-Oct		13-Dec		January 2, 2014		$	0.14
	29-Jul		15-Oct		October 29, 2013		0.13
	10-May		16-Jul		July 30, 2013		0.12
	4-Feb		16-Apr		April 30, 2013		0.12
Schedule of Preferred Dividends Payable	'
	Our Board of Directors declared preferred stock dividends during 2014 and 2013 as follows:
	Declaration Date		Record Date		Payment Date		Dividend Per Share
	2014
	15-May		16-Jun		July 1, 2014		$	0.3984
	26-Feb		17-Mar		1-Apr-14		0.3984
	2013
	28-Oct		13-Dec		January 2, 2014		$	0.3984
	29-Jul		13-Sep		October 1, 2013		0.3984
	10-May		14-Jun		July 1, 2013		0.3984
	4-Mar		15-Mar		April 1, 2013		0.2125

EARNINGS_PER_SHARE_Tables

EARNINGS PER SHARE (Tables)	6 Months Ended
	Jun. 30, 2014
Earnings Per Share [Abstract]	'
Summary of information related to EPS calculations	'
	Information related to our EPS calculations is summarized as follows:
		Three Months Ended June 30,						Six Months Ended June 30,
		2014			2013			2014			2013
	Numerators - Basic and Diluted:
	Income from continuing operations	$	56,423		$	217,263		$	115,887		$	191,094
	Preferred Stock dividends	(3,984		)	(3,984		)	(7,968		)	(6,109		)
	Allocation to noncontrolling interests	(2,687		)	(4,551		)	(6,175		)	(7,208		)
	Income from continuing operations - attributable to common stockholders	49,752			208,728			101,744			177,777
	Discontinued operations	120,666			(3,340		)	193,090			14,091
	Allocation to noncontrolling interests	(678		)	3			(1,042		)	(128		)
	Discontinued operations - net of noncontrolling interests	119,988			(3,337		)	192,048			13,963
	Net income	177,089			213,923			308,977			205,185
	Preferred Stock dividends	(3,984		)	(3,984		)	(7,968		)	(6,109		)
	Allocation to noncontrolling interests	(3,365		)	(4,548		)	(7,217		)	(7,336		)
	Net income attributable to common stockholders	$	169,740		$	205,391		$	293,792		$	191,740
	Denominators:
	Weighted-average number of common shares outstanding - basic	883,763			939,434			889,975			939,353
	Effect of dilutive securities	56,962			50,027			54,408			3,552
	Weighted-average number of common shares outstanding - diluted	940,725			989,461			944,383			942,905
	Anti-dilutive Securities:
	Effect of Preferred Units	5,506			5,526			5,506			5,526
	Effect of Common Units	4,834			6,417			4,834			6,495
	Effect of Stock Options	—			—			—			—
	Effect of Warrants	—			—			—			48,173
		10,340			11,943			10,340			60,194

STOCKBASED_COMPENSATION_PLANS_

STOCK-BASED COMPENSATION PLANS (Tables)	6 Months Ended
	Jun. 30, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'
Summary of compensation expense related to stock-based compensation plans	'
	Compensation expense related to stock-based compensation plans for the three months ended June 30, 2014, and 2013 is summarized in the following table:
		Three Months Ended June 30,						Six Months Ended June 30,
		2014			2013			2014				2013
	Stock options - Property management and other costs	$	1,792		$	1,106		$	3,997			$	2,335
	Stock options - General and administrative	3,574			2,278			8,270				4,278
	Restricted stock - Property management and other costs	446			389			867				814
	Restricted stock - General and administrative	279			1,977			555				3,954
	Total	$	6,091		$	5,750		$	13,689			$	11,381
Summary of stock option activity	'
	The following tables summarize stock option activity for the Equity Plan for GGP for the three months ended June 30, 2014, and 2013:
		2014					2013
		Shares		Weighted Average			Shares			Weighted Average
				Exercise						Exercise
				Price						Price
	Stock options Outstanding at January 1,	21,565,281		$	17.28		9,692,499			$	13.59
	Granted	50,000		22.41			5,901,108			19.24
	Exercised	(83,724	)	15.78			(285,491	)		14.29
	Forfeited	(244,346	)	19.06			(211,510	)		15.25
	Expired	(8,102	)	14.39			(14,279	)		14.13
	Stock options Outstanding at June 30,	21,279,109		$	17.28		15,082,327			$	15.76

ACCOUNTS_AND_NOTES_RECEIVABLE_1

ACCOUNTS AND NOTES RECEIVABLE, NET (Tables)	6 Months Ended
	Jun. 30, 2014
Receivables [Abstract]	'
Summary of significant components of Accounts and notes receivable, net	'
	The following table summarizes the significant components of Accounts and notes receivable, net.
		June 30, 2014			December 31, 2013
	Trade receivables	$	113,811		$	123,522
	Notes receivable	278,728			179,559
	Straight-line rent receivable	214,033			190,332
	Other accounts receivable	4,944			3,377
	Total Accounts and notes receivable	611,516			496,790
	Provision for doubtful accounts	(17,505		)	(17,891		)
	Total Accounts and notes receivable, net	$	594,011		$	478,899

PREPAID_EXPENSES_AND_OTHER_ASS1

PREPAID EXPENSES AND OTHER ASSETS (Tables)	6 Months Ended
	Jun. 30, 2014
Prepaid Expense and Other Assets [Abstract]	'
Summary of significant components of Prepaid expenses and other assets	'
	The following table summarizes the significant components of Prepaid expenses and other assets.
		June 30, 2014							December 31, 2013
		Gross Asset		Accumulated			Balance		Gross Asset		Accumulated			Balance
				Amortization							Amortization
	Intangible assets:
	Above-market tenant leases, net	940,441		(485,654		)	$	454,787	1,022,398		(478,998		)	$	543,400
	Below-market ground leases, net	163,179		(15,720		)	$	147,459	164,017		(13,597		)	$	150,420
	Real estate tax stabilization agreement, net	111,506		(22,990		)	$	88,516	111,506		(19,834		)	$	91,672
	Total intangible assets	$	1,215,126	$	(524,364	)	$	690,762	$	1,297,921	$	(512,429	)	$	785,492
	Remaining Prepaid expenses and other assets:
	Security and escrow deposits						99,426							145,999
	Prepaid expenses						53,620							23,283
	Other non-tenant receivables						17,445							25,988
	Deferred tax, net of valuation allowances						2,576							906
	Other						9,587							13,901
	Total remaining Prepaid expenses and other assets						182,654							210,077
	Total Prepaid expenses and other assets						$	873,416						$	995,569

ACCOUNTS_PAYABLE_AND_ACCRUED_E1

ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Tables)	6 Months Ended
	Jun. 30, 2014
Payables and Accruals [Abstract]	'
Summary of significant components of Accounts payable and accrued expenses	'
	The following table summarizes the significant components of Accounts payable and accrued expenses.
		June 30, 2014							December 31, 2013
		Gross Liability		Accumulated			Balance		Gross Liability		Accumulated			Balance
				Accretion							Accretion
	Intangible liabilities:
	Below-market tenant leases, net	571,131		(267,553		)	$	303,578	622,710		(271,215		)	$	351,495
	Above-market headquarters office leases, net	15,267		(5,999		)	$	9,268	15,268		(5,130		)	$	10,138
	Above-market ground leases, net	9,127		(1,339		)	$	7,788	9,756		(1,181		)	$	8,575
	Total intangible liabilities	$	595,525	$	(274,891	)	$	320,634	$	647,734	$	(277,526	)	$	370,208
	Remaining Accounts payable and accrued expenses:
	Accrued interest						54,326							58,777
	Accounts payable and accrued expenses						91,936							102,246
	Accrued real estate taxes						94,524							92,663
	Deferred gains/income						91,149							115,354
	Accrued payroll and other employee liabilities						40,282							34,006
	Construction payable						63,180							103,988
	Tenant and other deposits						21,991							21,434
	Insurance reserve liability						17,137							16,643
	Capital lease obligations						12,392							12,703
	Conditional asset retirement obligation liability						9,153							10,424
	Uncertain tax position liability						7,077							5,536
	Other						15,605							27,013
	Total remaining Accounts payable and accrued expenses						518,752							600,787
	Total Accounts payable and accrued expenses						$	839,386						$	970,995

COMMITMENTS_AND_CONTINGENCIES_

COMMITMENTS AND CONTINGENCIES (Tables)	6 Months Ended
	Jun. 30, 2014
Commitments and Contingencies Disclosure [Abstract]	'
Summary of contractual rental expense	'
	The following is a summary of our contractual rental expense as presented in our Consolidated Statements of Comprehensive Income:
		Three Months Ended June 30,				Six Months Ended June 30,
		2014		2013		2014		2013
		(Dollars in thousands)
	Contractual rent expense, including participation rent	$	3,193	$	3,679	$	6,452	$	6,957
	Contractual rent expense, including participation rent and excluding amortization of above and below-market ground leases and straight-line rent	2,039		2,456		4,142		4,512

ORGANIZATION_Details

ORGANIZATION (Details)	6 Months Ended
	Jun. 30, 2014
Real estate properties	'
Common equity ownership in GGP Limited Partnership (as a percent)	99.00%
Ownership in GGP Limited held by limited partners (as a percent)	1.00%
United States | Regional Malls	'
Real estate properties	'
Number of real estate properties in portfolio	120
Western region of the United States | Strip/other retail centers	'
Real estate properties	'
Number of real estate properties in portfolio	12
Columbia, Maryland | Stand-alone office buildings	'
Real estate properties	'
Number of real estate properties in portfolio	6
GGPLP	'
Real estate properties	'
Common equity ownership in GGP Limited Partnership (as a percent)	1.50%

SUMMARY_OF_SIGNIFICANT_ACCOUNT3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2014
Summary of significant accounting policies	'
Income Tax Examination, Interest Accrued	18.4
Minimum | Properties	'
Summary of significant accounting policies	'
Estimated useful lives	'10 years
Minimum | Buildings and improvements	'
Summary of significant accounting policies	'
Estimated useful lives	'10 years
Minimum | Equipment and fixtures	'
Summary of significant accounting policies	'
Estimated useful lives	'3 years
Maximum | Properties	'
Summary of significant accounting policies	'
Estimated useful lives	'45 years
Maximum | Buildings and improvements	'
Summary of significant accounting policies	'
Estimated useful lives	'45 years
Maximum | Equipment and fixtures	'
Summary of significant accounting policies	'
Estimated useful lives	'20 years

SUMMARY_OF_SIGNIFICANT_ACCOUNT4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 2) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2013
Acquisitions of operating properties	'	'	'	'	'
Gross Asset	$1,215,126	'	$1,215,126	'	$1,297,921
Accumulated Amortization	-524,364	'	-524,364	'	-512,429
Balance	690,762	'	690,762	'	785,492
Amortization/accretion effect on continuing operations	-53,301	-57,538	-105,780	-125,520	'
Future amortization/accretion of intangibles	'	'	'	'	'
2014 Remaining	83,756	'	83,756	'	'
2015	141,551	'	141,551	'	'
2016	109,824	'	109,824	'	'
2017	82,224	'	82,224	'	'
2018	54,049	'	54,049	'	'
Tenant leases, In-place value	'	'	'	'	'
Acquisitions of operating properties	'	'	'	'	'
Gross Asset	696,009	'	696,009	'	797,311
Accumulated Amortization	-384,689	'	-384,689	'	-420,370
Balance	$311,320	'	$311,320	'	$376,941

SUMMARY_OF_SIGNIFICANT_ACCOUNT5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 3) (USD $)	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Management Fees and Other Corporate Revenues	'	'	'	'
Percentage of revenue earned from joint venture reported as management fees	100.00%	'	'	'
Management fees from affiliates	$17,717,000	$17,281,000	$34,403,000	$33,139,000
Management fee expense	-6,571,000	-6,146,000	-13,248,000	-12,117,000
Net management fees from affiliates	11,146,000	11,135,000	21,155,000	21,022,000
Gain on extinguishment of debt	0	0	66,680,000	25,894,000
Provision for impairment from Equity in income of Unconsolidated Real Estate Affiliates	0	0	0	0
Continuing operations	'	'	'	'
Management Fees and Other Corporate Revenues	'	'	'	'
Impairment charges	'	0	0	'
Discontinuing operations	'	'	'	'
Management Fees and Other Corporate Revenues	'	'	'	'
Impairment charges	'	'	'	0
Number of impaired operating properties	'	'	'	2
Gain on extinguishment of debt	0	0	66,680,000	25,894,000
Discontinuing operations | Property transferred to a special servicer	'	'	'	'
Management Fees and Other Corporate Revenues	'	'	'	'
Impairment charges	'	'	'	$5,000,000

ACQUISITIONS_AND_JOINT_VENTURE2

ACQUISITIONS AND JOINT VENTURE ACTIVITY (Details) (USD $)

0 Months Ended

6 Months Ended

0 Months Ended

3 Months Ended

6 Months Ended

0 Months Ended

3 Months Ended

6 Months Ended

0 Months Ended

16-May-13

Jun. 30, 2014

Jun. 28, 2013

Jun. 30, 2013

Jun. 30, 2013

Jun. 28, 2013

16-May-13

Jun. 30, 2013

Jun. 30, 2013

16-May-13

Jun. 27, 2014

Jun. 27, 2014

Jun. 27, 2014

Jun. 27, 2014

Quail Springs Mall

Quail Springs Mall

Quail Springs Mall

Quail Springs Mall

Grand Canal Shoppes Holdings, LLC

Grand Canal Shoppes Holdings, LLC

Grand Canal Shoppes Holdings, LLC

Grand Canal Shoppes Holdings, LLC

685 5th Avenue New York, New York

685 5th Avenue New York, New York

Retail Site [Member]

Officer [Member]

685 5th Avenue New York, New York

685 5th Avenue New York, New York

sqft

sqft

ACQUISITIONS AND JOINT VENTURE ACTIVITY

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Gain (Loss) on Disposition of Business

'

$117,500,000

'

'

'

'

'

'

'

'

'

'

'

'

Payments to Acquire Businesses, Gross

'

'

'

'

'

'

'

'

'

'

521,400,000

'

'

'

Business Combination, Consideration Transferred, Liabilities Incurred

'

'

'

'

'

'

'

'

'

'

340,000,000

'

'

'

Area of Real Estate Property

'

'

'

'

'

'

'

'

'

'

'

'

0

115,000

Ownership interest acquired (as a percent)

'

'

'

'

'

50.00%

'

'

'

'

'

50.00%

'

'

Notes, Loans and Financing Receivable, Gross, Noncurrent

'

85,300,000

'

'

'

'

'

'

'

'

'

'

'

'

Consideration for acquisition

'

'

90,500,000

'

'

'

'

'

'

'

'

'

'

'

Investment in joint venture

'

'

-55,507,000

'

'

'

'

'

'

'

-106,600,000

'

'

'

Remaining debt and net working capital assumed

'

'

'

'

'

50.00%

'

'

'

'

'

'

'

'

Gains from changes in control of investment properties

'

'

19,776,000

19,800,000

19,800,000

'

200,008,000

200,000,000

200,000,000

'

'

'

'

'

Net assets acquired

'

'

'

'

'

110,893,000

'

'

'

'

'

'

'

'

Investment in real estate

'

'

'

'

'

186,627,000

'

'

'

'

'

'

'

'

Fair value of mortgages, notes and loans payable

'

'

'

'

'

-77,204,000

'

'

'

'

'

'

'

'

Net working capital

'

'

'

'

'

1,470,000

'

'

'

'

'

'

'

'

Ownership in investment properties by joint venture (as a percent)

100.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

Cash paid as contribution in joint venture

'

'

'

'

'

'

'

'

'

411,476,000

'

'

'

'

Debt assumed joint venture

311,900,000

'

'

'

'

'

'

'

'

'

'

'

'

'

Economic Interest in Joint Venture Received by Co Venturer Percent

'

5.60%

'

'

'

'

'

'

'

49.90%

'

'

'

'

Previous investment in joint venture

'

'

'

'

'

($35,610,000)

'

'

'

($211,468,000)

'

'

'

'

DISCONTINUED_OPERATIONS_AND_GA2

DISCONTINUED OPERATIONS AND GAINS (LOSSES) ON DISPOSITIONS OF OPERATING PROPERTIES (Details) (USD $)	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
		sqft		sqft
Discontinued operations	'	'	'	'
Debt on the property paid down with proceeds from sale	'	$121,200,000	$100,900,000	'
Proceeds from Divestiture of Businesses	'	'	210,000,000	'
Gain (Loss) on Disposition of Business	'	'	117,500,000	'
Area of real estate property sold	'	2,000,000	'	2,000,000
Total revenues	617,623,000	599,543,000	1,246,191,000	1,223,796,000
Total expenses	409,710,000	400,906,000	814,323,000	828,040,000
Operating income	207,913,000	198,637,000	431,868,000	395,756,000
Gain on extinguishment of debt	0	0	66,680,000	25,894,000
Discontinued operations, net	120,666,000	-3,340,000	193,090,000	14,091,000
Discontinuing operations	'	'	'	'
Discontinued operations	'	'	'	'
Retail and other revenue	2,707,000	14,176,000	7,075,000	28,928,000
Total revenues	2,707,000	14,176,000	7,075,000	28,928,000
Retail and other operating expenses	-507,000	10,817,000	1,835,000	22,475,000
Provision for impairment	0	0	0	4,975,000
Total expenses	-507,000	10,817,000	1,835,000	27,450,000
Operating income	3,214,000	3,359,000	5,240,000	1,478,000
Interest expense, net	-9,000	-6,257,000	-984,000	-12,516,000
Gains (losses) on dispositions	117,461,000	-442,000	122,154,000	-765,000
Net income (loss) from operations	120,666,000	-3,340,000	126,410,000	-11,803,000
Gain on extinguishment of debt	0	0	66,680,000	25,894,000
Discontinued operations, net	120,666,000	-3,340,000	193,090,000	14,091,000
Property transferred to a special servicer | Discontinuing operations	'	'	'	'
Discontinued operations	'	'	'	'
Number of properties previously transferred to a special servicer	1	1	'	'
Debt on the property paid down with proceeds from sale	$79,000,000	'	'	'

FAIR_VALUE_Details

FAIR VALUE (Details) (USD $)	6 Months Ended
	Jun. 30, 2014		Dec. 31, 2013
Carrying Amount	'		'
Fixed-rate debt	$13,711,131,000	[1]	$13,919,820,000	[1]
Variable-rate debt	2,198,092,000	[1]	1,752,617,000	[1]
Total mortgages, notes and loans payable	15,909,223,000	[1]	15,672,437,000	[1]
Estimated Fair Value	'		'
Long Term Debt, Percentage Bearing Fixed Interest, Fair Value	14,388,366,000		13,957,952,000
Long Term Debt, Percentage Bearing Variable Interest, Fair Value	2,239,661,000		1,787,139,000
Total long-term debt, fair value	16,628,027,000		15,745,091,000
Market rate adjustments	$19,100,000		$900,000
Variable rate basis	'LIBOR		'
[1]	Includes market rate adjustments of $19.1 million and $0.9 million as of June 30, 2014 and December 31, 2013, respectively.

UNCONSOLIDATED_REAL_ESTATE_AFF2

UNCONSOLIDATED REAL ESTATE AFFILIATES (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013	Jun. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Assets:	'	'	'	'
Land	$4,297,767	$4,320,597	'	'
Buildings and equipment	18,237,236	18,270,748	'	'
Less accumulated depreciation	-2,099,755	-1,884,861	'	'
Construction in progress	471,791	406,930	'	'
Net property and equipment	20,907,039	21,113,414	'	'
Cash and cash equivalents	242,007	577,271	704,918	624,815
Accounts and notes receivable, net	594,011	478,899	'	'
Deferred expenses, net	179,120	189,452	'	'
Prepaid expenses and other assets	873,416	995,569	'	'
Total assets	25,376,559	25,762,303	'	'
Liabilities and Owners’ Equity:	'	'	'	'
Mortgages, notes and loans payable	91,793	64,979	'	'
Total liabilities and equity	25,376,559	25,762,303	'	'
Investment In and Loans To/From Unconsolidated Real Estate Affiliates, Net:	'	'	'	'
Owners’ equity	-7,652,866	-8,185,263	-8,792,084	-7,705,020
Investment in and loans to/from Unconsolidated Real Estate Affiliates, net	2,580,966	2,407,698	'	'
Reconciliation - Investment In and Loans To/From Unconsolidated Real Estate Affiliates:	'	'	'	'
Investment in and loans to/from Unconsolidated Real Estate Affiliates, net	2,580,966	2,407,698	'	'
Unconsolidated	'	'	'	'
Assets:	'	'	'	'
Land	1,055,127	1,046,354	'	'
Buildings and equipment	9,280,708	8,670,976	'	'
Less accumulated depreciation	-2,432,538	-2,301,054	'	'
Construction in progress	59,640	46,339	'	'
Net property and equipment	7,962,937	7,462,615	'	'
Cash and cash equivalents	298,870	260,405	'	'
Accounts and notes receivable, net	170,099	187,533	'	'
Deferred expenses, net	268,424	254,949	'	'
Prepaid expenses and other assets	203,975	147,182	'	'
Total assets	8,904,305	8,312,684	'	'
Liabilities and Owners’ Equity:	'	'	'	'
Mortgages, notes and loans payable	6,838,981	6,503,686	'	'
Accounts payable, accrued expenses and other liabilities	322,671	324,620	'	'
Cumulative effect of foreign currency translation (“CFCT”)	-17,036	-22,896	'	'
Owners’ equity, excluding CFCT	1,759,689	1,507,274	'	'
Total liabilities and equity	8,904,305	8,312,684	'	'
Investment In and Loans To/From Unconsolidated Real Estate Affiliates, Net:	'	'	'	'
Owners’ equity	1,742,653	1,484,378	'	'
Less: joint venture partners’ equity	-889,809	-760,804	'	'
Plus: excess investment/basis differences	1,709,706	1,666,719	'	'
Investment in and loans to/from Unconsolidated Real Estate Affiliates, net	2,562,550	2,390,293	'	'
Reconciliation - Investment In and Loans To/From Unconsolidated Real Estate Affiliates:	'	'	'	'
Asset - Investment in and loans to/from Unconsolidated Real Estate Affiliates	2,580,966	2,407,698	'	'
Liability - Investment in Unconsolidated Real Estate Affiliates	-18,416	-17,405	'	'
Investment in and loans to/from Unconsolidated Real Estate Affiliates, net	$2,562,550	$2,390,293	'	'

UNCONSOLIDATED_REAL_ESTATE_AFF3

UNCONSOLIDATED REAL ESTATE AFFILIATES (Details 2) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Revenues:	'	'	'	'
Minimum rents	$390,419	$385,512	$784,998	$779,407
Tenant recoveries	185,382	173,782	367,201	357,856
Overage rents	5,388	6,372	15,209	17,721
Other	18,717	16,570	44,380	35,573
Total revenues	617,623	599,543	1,246,191	1,223,796
Expenses:	'	'	'	'
Real estate taxes	58,816	52,372	116,173	119,538
Property maintenance costs	14,452	14,952	36,427	37,908
Marketing	4,961	5,764	10,765	12,268
Other property operating costs	82,980	84,469	169,882	170,244
Provision for doubtful accounts	2,732	629	4,973	2,383
Property management and other costs	40,107	41,558	85,071	81,897
General and administrative	28,232	13,124	39,831	24,057
Depreciation and amortization	177,430	188,038	351,201	379,745
Total expenses	409,710	400,906	814,323	828,040
Operating income	207,913	198,637	431,868	395,756
Interest expense	-175,494	-186,902	-354,924	-377,417
Provision for income taxes	-3,944	-1,382	-7,636	-1,523
Income from continuing operations	56,423	217,263	115,887	191,094
Allocation to noncontrolling interests	-3,365	-4,548	-7,217	-7,336
Net income attributable to common stockholders	169,740	205,391	293,792	191,740
Equity In Income of Unconsolidated Real Estate Affiliates:	'	'	'	'
Net income attributable to the ventures	169,740	205,391	293,792	191,740
Equity in income of Unconsolidated Real Estate Affiliates	19,320	13,987	26,477	27,181
Unconsolidated Real Estate Affiliates	'	'	'	'
Revenues:	'	'	'	'
Minimum rents	212,735	186,713	398,543	367,398
Tenant recoveries	87,434	83,159	174,896	159,288
Overage rents	4,244	3,514	9,098	8,423
Other	7,341	7,982	19,076	14,872
Total revenues	311,754	281,368	601,613	549,981
Expenses:	'	'	'	'
Real estate taxes	27,003	26,094	54,686	51,609
Property maintenance costs	8,304	7,638	20,006	16,261
Marketing	3,223	3,388	6,790	6,529
Other property operating costs	40,846	39,317	82,783	75,260
Provision for doubtful accounts	227	-159	1,043	1,262
Property management and other costs	13,990	12,686	28,193	25,125
General and administrative	5,326	594	5,810	1,174
Depreciation and amortization	76,952	68,527	152,657	133,711
Total expenses	175,871	158,085	351,968	310,931
Operating income	135,883	123,283	249,645	239,050
Interest and dividend income	1,301	311	2,848	566
Interest expense	-73,523	-69,713	-146,395	-135,503
Provision for income taxes	-91	-132	-279	-288
Income from continuing operations	63,570	53,749	105,819	103,825
Net income from disposed investment	0	6,319	0	18,111
Allocation to noncontrolling interests	-13	-8	-17	33
Net income attributable to common stockholders	63,557	60,060	105,802	121,969
Equity In Income of Unconsolidated Real Estate Affiliates:	'	'	'	'
Net income attributable to the ventures	63,557	60,060	105,802	121,969
Joint venture partners’ share of income	-34,011	-33,082	-58,224	-67,741
Amortization of capital or basis differences	-10,226	-12,991	-21,101	-27,047
Equity in income of Unconsolidated Real Estate Affiliates	$19,320	$13,987	$26,477	$27,181

UNCONSOLIDATED_REAL_ESTATE_AFF4

UNCONSOLIDATED REAL ESTATE AFFILIATES (Details 3) (USD $)	Jun. 30, 2014	Dec. 31, 2013
	item	property
Unconsolidated Real Estate Affiliates | Strip Centers [Member]	'	'
Condensed Combined Financial Information of Unconsolidated Real Estate Affiliates	'	'
Number of real estate properties in portfolio	6	'
Unconsolidated	'	'
Condensed Combined Financial Information of Unconsolidated Real Estate Affiliates	'	'
Entity's proportionate share in indebtedness secured by Unconsolidated Properties including retained debt	$3,400,000,000	$3,200,000,000
Aggregate carrying value of retained debt, reflected as a reduction in entity's investment in Unconsolidated Real Estate Affiliates	$89,900,000	$90,600,000
Number of unconsolidated properties with retained debt	1	1
United States | Regional Malls	'	'
Condensed Combined Financial Information of Unconsolidated Real Estate Affiliates	'	'
Number of real estate properties in portfolio	120	'
United States | Unconsolidated Real Estate Affiliates	'	'
Condensed Combined Financial Information of Unconsolidated Real Estate Affiliates	'	'
Number of joint ventures in which the entity holds interest	21	'
United States | Unconsolidated Real Estate Affiliates | Regional Malls	'	'
Condensed Combined Financial Information of Unconsolidated Real Estate Affiliates	'	'
Number of real estate properties in portfolio	31	'
Brazil | Unconsolidated Real Estate Affiliates	'	'
Condensed Combined Financial Information of Unconsolidated Real Estate Affiliates	'	'
Number of joint ventures in which the entity holds interest	1	'

MORTGAGES_NOTES_AND_LOANS_PAYA2

MORTGAGES, NOTES AND LOANS PAYABLE (Details) (USD $)

6 Months Ended

6 Months Ended

12 Months Ended

6 Months Ended

6 Months Ended

6 Months Ended

6 Months Ended

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Dec. 31, 2006

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

GGP Capital Trust I

GGP Capital Trust I

Revolving credit facility

Revolving credit facility

Corporate Note Securities [Member]

Corporate Note Securities [Member]

Collateralized mortgages, notes and loans payable

Collateralized mortgages, notes and loans payable

Junior Subordinated Notes due 2041

Junior Subordinated Notes due 2041

Prior loans

New Loan

Construction Loans [Member]

Corporate and other unsecured loans

Corporate and other unsecured loans

Unsecured fixed-rate debt

Unsecured fixed-rate debt

Revolving credit facility, (the "Facility")

Revolving credit facility, (the "Facility")

Cross-collateralized

item

Minimum

Maximum

Collateralized mortgages, notes and loans payable

Mortgages, notes and loans payable

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Fixed-rate debt

$13,711,131,000

[1]

$13,919,820,000

[1]

'

'

'

'

$9,993,000

$13,179,000

$13,701,402,000

$13,907,029,000

'

'

'

'

'

$9,729,000

$12,791,000

'

'

'

'

$101,700,000

Long Term Debt, Percentage Bearing Fixed Interest, Fair Value

14,388,366,000

13,957,952,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Long-term debt

91,793,000

64,979,000

'

'

81,800,000

'

'

'

'

'

206,200,000

206,200,000

'

'

'

'

'

'

'

'

'

'

Weighted-average fixed interest rate (as a percent)

4.53%

4.55%

'

'

'

'

'

'

4.53%

4.55%

'

'

'

'

'

4.41%

4.41%

'

'

'

'

'

Weighted-average variable interest rate (as a percent)

2.43%

2.59%

'

'

1.73%

1.74%

'

'

2.46%

2.61%

1.67%

1.69%

'

'

'

'

'

'

'

'

'

'

Mortgages, notes and loans payable

15,909,223,000

[1]

15,672,437,000

[1]

'

'

'

'

'

'

15,800,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

Long-term Debt, Weighted Average Interest Rate

4.24%

4.33%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Variable-rate debt

2,198,092,000

[1]

1,752,617,000

[1]

'

'

81,800,000

51,800,000

'

'

2,116,292,000

1,700,817,000

'

'

'

'

'

'

'

'

'

'

'

1,400,000,000

Long Term Debt, Percentage Bearing Variable Interest, Fair Value

2,239,661,000

1,787,139,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Mortgage Loans on Real Estate, New Mortgage Loans

'

'

'

'

'

'

'

'

153,800,000

'

'

'

'

'

450,000,000

'

'

'

'

'

'

'

Market rate adjustments

19,100,000

900,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Market rate adjustment excluded from corporate and other unsecured loans

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

300,000

400,000

'

'

'

Land, buildings and equipment and developments in progress (before accumulated depreciation) pledged as collateral

'

'

'

'

'

'

'

'

21,400,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

Secured debt, cross-collateralized with other properties

'

'

'

'

'

'

'

'

1,500,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

Amount of recourse fixed and variable rate debt

'

'

'

'

'

'

'

'

1,700,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

Value of mortgage notes refinanced

'

'

'

'

'

'

'

'

1,000,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of properties with mortgage notes refinanced

'

'

'

'

'

'

'

'

6

'

'

'

'

'

'

'

'

'

'

'

'

'

Proceeds from mortgage loans refinanced

'

'

'

'

'

'

'

'

308,400,000

'

'

'

'

'

'

'

'

'

'

'

'

'

Term to maturity

'

'

'

'

'

'

'

'

'

'

'

'

'1 year 8 months 0 days

'7 years 3 months 0 days

'

'

'

'

'

'

'

'

Debt, Weighted Average Interest Rate

2.02%

2.28%

'

'

'

'

'

'

'

'

'

'

4.80%

3.60%

'

'

'

'

'

'

'

'

Maximum borrowing capacity

'

'

'

'

1,000,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Debt Instrument, Convertible, Beneficial Conversion Feature

'

'

'

'

1,500,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Variable rate basis

'LIBOR

'

'LIBOR

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Basis spread on variable rate (as a percent)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1.33%

1.95%

'

Issuance of trust preferred securities

'

'

'

200,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Common securities issued to GGLP

'

'

'

6,200,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Trust Preferred Securities, basis spread on variable rate

'

'

1.45%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Outstanding letter of credit and surety bonds

24,300,000

19,400,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Debt Instrument, Interest Rate, Stated Percentage

'

'

'

'

'

'

'

'

1.90%

'

'

'

'

'

'

'

'

'

'

'

'

'

Debt Instrument, Fair Value Disclosure

$16,628,027,000

$15,745,091,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

[1]

Includes market rate adjustments of $19.1 million and $0.9 million as of June 30, 2014 and December 31, 2013, respectively.

INCOME_TAXES_Details

INCOME TAXES (Details)	3 Months Ended
	Jun. 30, 2014
Income Tax Disclosure [Abstract]	'
Required minimum percentage distribution of ordinary taxable income to stockholders to qualify as a REIT	90.00%
Period of disqualification of REIT status	'4 years

WARRANTS_Details

WARRANTS (Details)

6 Months Ended

3 Months Ended

6 Months Ended

Jun. 30, 2014

Apr. 15, 2014

Dec. 13, 2013

Oct. 15, 2013

Jul. 16, 2013

Apr. 16, 2013

Nov. 09, 2010

Jun. 30, 2014

Nov. 09, 2010

Nov. 09, 2010

Jun. 30, 2014

Jun. 30, 2014

Nov. 09, 2010

Nov. 09, 2010

Apr. 15, 2014

Dec. 13, 2013

Oct. 15, 2013

Jul. 16, 2013

Apr. 16, 2013

Apr. 15, 2014

Dec. 13, 2013

Oct. 15, 2013

Jul. 16, 2013

Apr. 16, 2013

warrant

warrant

warrant

warrant

warrant

warrant

Brookfield

Brookfield

Blackstone

Fairholme

Fairholme

Fairholme

Pershing Square

Brookfield and Blackstone

Brookfield and Blackstone

Brookfield and Blackstone

Brookfield and Blackstone

Brookfield and Blackstone

Fairholme, Pershing Square and Blackstone

Fairholme, Pershing Square and Blackstone

Fairholme, Pershing Square and Blackstone

Fairholme, Pershing Square and Blackstone

Fairholme, Pershing Square and Blackstone

warrant

warrant

warrant

warrant

warrant

WARRANT LIABILITY

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of Warrants

'

'

'

'

'

'

'

'

57,500,000

2,500,000

[1]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of Warrants

'

'

'

'

'

'

'

'

'

2,500,000

[1]

'

'

41,070,000

[1]

16,430,000

[2]

'

'

'

'

'

'

'

'

'

'

Issuable Shares

'

85,668,428

[3]

85,084,392

[3]

84,507,750

[3]

83,945,892

[3]

83,443,178

[3]

120,000,000

52,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Exercise price (in dollars per share)

'

'

'

'

'

'

10.63

'

10.75

10.75

[1]

'

'

10.5

[1]

10.5

[2]

9.28

9.34

9.41

9.47

9.53

9.06

9.12

9.19

9.25

9.3

Exercise price (in dollars per share)

'

'

'

'

'

'

'

'

'

10.5

[1]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Exercise price of remaining warrants (in dollars per share)

'

'

'

'

'

'

'

9.23

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Term of Warrants, in number of years from the effective date

'7 years

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Initial period of term of Warrants in number of years during which prior notice is to be given

'

'

'

'

'

'

'

'

'

'

'

'6 years 6 months

'

'

'

'

'

'

'

'

'

'

'

'

Notice period to exercise permanent warrants

'

'

'

'

'

'

'

'

'

'

'90 days

'

'

'

'

'

'

'

'

'

'

'

'

'

[1]

(2) On January 28, 2013, the Fairholme and Blackstone Warrants (A and B) were purchased by GGPOP.

[2]

(1) On December 31, 2012, the Pershing Square Warrants were purchased by the Brookfield; Brookfield owns or manages on behalf of third parties, all outstanding Warrants.

[3]

(1) Issuable shares as of April 16, 2013 exclude the Fairholme and Blackstone A and B Warrants purchased and exercised by GGPOP (Note 11).

WARRANTS_Details_2

WARRANTS (Details 2) (USD $)

0 Months Ended

6 Months Ended

Mar. 28, 2013

Jun. 30, 2014

Jun. 30, 2013

Apr. 15, 2014

Dec. 13, 2013

Oct. 15, 2013

Jul. 16, 2013

Apr. 16, 2013

Nov. 09, 2010

warrant

warrant

warrant

warrant

warrant

warrant

WARRANT LIABILITY

'

'

'

'

'

'

'

'

'

Issuable Shares

'

'

'

85,668,428

[1]

85,084,392

[1]

84,507,750

[1]

83,945,892

[1]

83,443,178

[1]

120,000,000

Fair Value of Warrant Liability

'

'

'

'

'

'

'

'

'

Reclassification to equity

'

$0

($895,513,000)

'

'

'

'

'

'

Estimated fair value of Warrants and significant assumptions used in valuation

'

'

'

'

'

'

'

'

'

Fair value of Warrants

895,513,000

'

'

'

'

'

'

'

'

Observable Inputs

'

'

'

'

'

'

'

'

'

GGP stock price per share

$19.88

$23.56

'

'

'

'

'

'

'

Warrant term

'4 years 7 months 15 days

'

'

'

'

'

'

'

'

Unobservable Inputs

'

'

'

'

'

'

'

'

'

Expected volatility (as a percent)

30.00%

'

'

'

'

'

'

'

'

Discount for lack of marketability (as a percent)

3.00%

'

'

'

'

'

'

'

'

The Brookfield Investor

'

'

'

'

'

'

'

'

'

WARRANT LIABILITY

'

'

'

'

'

'

'

'

'

Number of Warrants

'

'

'

'

'

'

'

'

57,500,000

Warrant option exercise price

'

618,000,000

'

'

'

'

'

'

'

Common stock shares issued in warrant settlement transaction

'

67,000,000

'

'

'

'

'

'

'

Issuable Shares

'

52,000,000

'

'

'

'

'

'

'

Pershing Square

'

'

'

'

'

'

'

'

'

WARRANT LIABILITY

'

'

'

'

'

'

'

'

'

Number of Warrants

'

'

'

'

'

'

'

'

16,430,000

[2]

Fairholme

'

'

'

'

'

'

'

'

'

WARRANT LIABILITY

'

'

'

'

'

'

'

'

'

Number of Warrants

'

'

'

'

'

'

'

'

41,070,000

[3]

Blackstone

'

'

'

'

'

'

'

'

'

WARRANT LIABILITY

'

'

'

'

'

'

'

'

'

Number of Warrants

'

'

'

'

'

'

'

'

2,500,000

[3]

Number of Warrants

'

'

'

'

'

'

'

'

2,500,000

[3]

Minimum

'

'

'

'

'

'

'

'

'

Unobservable Inputs

'

'

'

'

'

'

'

'

'

Expected volatility (as a percent)

15.00%

'

'

'

'

'

'

'

'

Discount for lack of marketability (as a percent)

3.00%

'

'

'

'

'

'

'

'

Maximum

'

'

'

'

'

'

'

'

'

Unobservable Inputs

'

'

'

'

'

'

'

'

'

Expected volatility (as a percent)

65.00%

'

'

'

'

'

'

'

'

Discount for lack of marketability (as a percent)

7.00%

'

'

'

'

'

'

'

'

Fair Value Measurements, Recurring | Significant Unobservable Inputs (Level 3)

'

'

'

'

'

'

'

'

'

Fair Value of Warrant Liability

'

'

'

'

'

'

'

'

'

Balance at the beginning of the period

'

'

1,488,196,000

'

'

'

'

'

'

Warrant liability adjustment

'

'

40,546,000

'

'

'

'

'

'

Purchase of warrants by GGPLP

'

'

-633,229,000

'

'

'

'

'

'

Reclassification to equity

'

'

-895,513,000

'

'

'

'

'

'

Balance at the end of the period

'

'

$0

'

'

'

'

'

'

[1]

(1) Issuable shares as of April 16, 2013 exclude the Fairholme and Blackstone A and B Warrants purchased and exercised by GGPOP (Note 11).

[2]

(1) On December 31, 2012, the Pershing Square Warrants were purchased by the Brookfield; Brookfield owns or manages on behalf of third parties, all outstanding Warrants.

[3]

(2) On January 28, 2013, the Fairholme and Blackstone Warrants (A and B) were purchased by GGPOP.

EQUITY_AND_REDEEMABLE_NONCONTR2

EQUITY AND REDEEMABLE NONCONTROLLING INTERESTS (Details) (USD $)

0 Months Ended

3 Months Ended

6 Months Ended

3 Months Ended

6 Months Ended

3 Months Ended

0 Months Ended

2 Months Ended

Feb. 26, 2014

Oct. 28, 2013

Jul. 29, 2013

10-May-13

Mar. 04, 2013

Feb. 04, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Mar. 28, 2013

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Feb. 13, 2013

Jun. 30, 2014

Jul. 01, 2014

Jul. 15, 2014

Series B

Series B

Series D

Series E

6.375% series A cumulative redeemable perpetual preferred stock

6.375% series A cumulative redeemable perpetual preferred stock

Subsequent Event

Subsequent Event

Equity and redeemable noncontrolling interest

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Estimated payments for repurchase of redeemable noncontrolling interest

'

'

'

'

'

'

$145,800,000

'

$145,800,000

'

'

'

'

'

'

'

'

'

'

Conversion ratio for convertible common units to common stock

'

'

'

'

'

'

1

'

'

'

'

'

'

'

'

'

'

'

'

Allocation to Noncontrolling Interests

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Distributions to preferred Operating Partnership units

'

'

'

'

'

'

-2,232,000

-2,336,000

-4,464,000

-4,671,000

'

'

'

'

'

'

'

'

'

Net (income) loss allocation to noncontrolling interests in operating partnership from continuing operations (common units)

'

'

'

'

'

'

-973,000

-1,479,000

-1,637,000

-1,395,000

'

'

'

'

'

'

'

'

'

Allocation to noncontrolling interests

'

'

'

'

'

'

-3,365,000

-4,548,000

-7,217,000

-7,336,000

'

'

'

'

'

'

'

'

'

Other comprehensive loss allocation to noncontrolling interests

'

'

'

'

'

'

163,000

394,000

148,000

340,000

'

'

'

'

'

'

'

'

'

Comprehensive (income) loss allocated to noncontrolling interests

'

'

'

'

'

'

-3,202,000

-4,154,000

-7,069,000

-6,996,000

'

'

'

'

'

'

'

'

'

Unit Conversions Disclosures

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of Common Units for each Preferred unit

'

'

'

'

'

'

'

'

'

'

'

3

3

1.50821

1.29836

'

'

'

'

Number of Contractual Convertible Preferred Units Outstanding

'

'

'

'

'

'

'

'

'

'

'

1,279,632,000

1,279,632,000

532,750,000

502,658,000

'

'

'

'

Converted Basis to Common Units Outstanding

'

'

'

'

'

'

'

'

'

'

'

3,991,540,000

3,991,540,000

803,499,000

652,631,000

'

'

'

'

Conversion Price (in dollars per share)

'

'

'

'

'

'

'

'

'

'

'

$16.67

'

$33.15

$38.51

'

'

'

'

Redemption Value

'

'

'

'

'

'

145,811,000

'

145,811,000

'

'

94,041,000

94,041,000

26,637,000

25,133,000

'

'

'

'

GGP stock price per share

'

'

'

'

'

'

$23.56

'

$23.56

'

$19.88

$23.56

$23.56

'

'

'

'

'

'

Activity of redeemable noncontrolling interests

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Balance at the beginning of the period

'

'

'

'

'

'

'

'

228,902,000

268,219,000

'

'

'

'

'

'

'

'

'

Net income (loss)

'

'

'

'

'

'

'

'

1,637,000

1,395,000

'

'

'

'

'

'

'

'

'

Distributions

'

'

'

'

'

'

'

'

-1,450,000

-1,511,000

'

'

'

'

'

'

'

'

'

Redemption of operating partnership units

'

'

'

'

'

'

'

'

'

-3,328,000

'

'

'

'

'

'

'

'

'

Other comprehensive income (loss)

'

'

'

'

'

'

'

'

-148,000

-340,000

'

'

'

'

'

'

'

'

'

Fair value adjustment for noncontrolling interests in Operating Partnership

'

'

'

'

'

'

'

'

30,762,000

-839,000

'

'

'

'

'

'

'

'

'

Balance at the end of the period

'

'

'

'

'

'

259,703,000

263,596,000

259,703,000

263,596,000

'

'

'

'

'

'

'

'

'

Common Stock Dividend

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Dividends declared per share

$0.15

$0.14

$0.13

$0.12

'

$0.12

$0.15

$0.12

$0.30

$0.24

'

'

'

'

'

'

'

'

$0.15

Number of business days preceding the record date of dividend for enrolling in DRIP

'

'

'

'

'

'

'4 days

'

'

'

'

'

'

'

'

'

'

'

'

Cash dividends reinvested (DRIP) in stock, shares

'

'

'

'

'

'

'

'

11,790

14,050

'

'

'

'

'

'

'

'

'

Issue price (in dollars per share)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$25

'

'

'

Redemption price per share (in dollars per share)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$25

'

'

Number of preferred shares redeemed through public offering

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

10,000,000

'

'

'

Preferred shares dividend (as a percent)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

6.38%

'

'

'

Net proceeds from preferred shares issued after issuance costs

'

'

'

'

'

'

'

'

0

242,042,000

'

'

'

'

'

242,000,000

'

'

'

Conversion of preferred share per common share issued upon conversion

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

2.4679

'

'

Preferred Stock dividends declared (in dollars per share)

$0.40

$0.40

$0.40

$0.40

$0.21

'

'

'

'

'

'

'

'

'

'

'

'

$0.40

'

Conversion ratio

'

'

'

'

'

'

'

'

'

'

'

'

1.0397624

'

'

'

'

'

'

Net (income) loss allocated to noncontrolling interest in consolidated real estate affiliates

'

'

'

'

'

'

($160,000)

($733,000)

($1,116,000)

($1,270,000)

'

'

'

'

'

'

'

'

'

EARNINGS_PER_SHARE_Details

EARNINGS PER SHARE (Details) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Numerators - Basic and Diluted:	'	'	'	'
Income from continuing operations	$56,423	$217,263	$115,887	$191,094
Preferred stock dividends	-3,984	-3,984	-7,968	-6,109
Allocation to noncontrolling interests	-2,687	-4,551	-6,175	-7,208
Income from continuing operations - attributable to common stockholders	49,752	208,728	101,744	177,777
Discontinued operations	120,666	-3,340	193,090	14,091
Allocation to noncontrolling interests	-678	3	-1,042	-128
Discontinued operations - net of noncontrolling interests	119,988	-3,337	192,048	13,963
Net income	177,089	213,923	308,977	205,185
Preferred Stock dividends	-3,984	-3,984	-7,968	-6,109
Allocation to noncontrolling interests	-3,365	-4,548	-7,217	-7,336
Net income attributable to common stockholders	$169,740	$205,391	$293,792	$191,740
Denominators:	'	'	'	'
Weighted-average number of common shares outstanding - basic	883,763	939,434	889,975	939,353
Effect of dilutive securities	56,962	50,027	54,408	3,552
Weighted-average number of common shares outstanding - diluted	940,725	989,461	944,383	942,905
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	10,340	11,943	10,340	60,194
Preferred Units	'	'	'	'
Denominators:	'	'	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	5,506	5,526	5,506	5,526
Common Units	'	'	'	'
Denominators:	'	'	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	4,834	6,417	4,834	6,495
Stock Options	'	'	'	'
Denominators:	'	'	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	'	0	0	0
Warrant	'	'	'	'
Denominators:	'	'	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	'	0	0	48,173

EARNINGS_PER_SHARE_Details_2

EARNINGS PER SHARE (Details 2) (USD $)	6 Months Ended			0 Months Ended	3 Months Ended	12 Months Ended
In Thousands, except Share data, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2013	Mar. 26, 2013	Jun. 30, 2014	Dec. 31, 2013
				GGPLP	GGPLP	GGPLP
Effect of anti-dilutive Securities	'	'	'	'	'	'
Common stock in treasury, shares	55,969,390	'	28,345,108	'	'	'
Treasury Stock, Value, Acquired, Cost Method	$555,801	'	'	'	$555,800	$566,900
Investment Owned, Balance, Shares	'	'	'	'	83,428,585	'
Shares Issued to Affiliate in Warrant Exercise Not Outstanding	'	'	'	27,459,195	27,459,195	'
Treasury stock purchases, shares	27,624,282	0	'	'	27,624,282	'

STOCKBASED_COMPENSATION_PLANS_1

STOCK-BASED COMPENSATION PLANS (Details)	3 Months Ended
	Jun. 30, 2014
Stock-Based Compensation Plans	'
Shares of common stock reserved for issuance as a percentage of outstanding shares on a fully diluted basis	4.00%
Maximum number of shares that can be granted to participant	4,000,000
Stock options | Maximum | Certain employees	'
Stock-Based Compensation Plans	'
Term of awards	'10 years

STOCKBASED_COMPENSATION_PLANS_2

STOCK-BASED COMPENSATION PLANS (Details 2) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Stock-Based Compensation Plans	'	'	'	'
Compensation expense	$6,091	$5,750	$13,689	$11,381
Stock options | Property management and other costs	'	'	'	'
Stock-Based Compensation Plans	'	'	'	'
Compensation expense	1,792	1,106	3,997	2,335
Stock options | General and administrative	'	'	'	'
Stock-Based Compensation Plans	'	'	'	'
Compensation expense	3,574	2,278	8,270	4,278
Restricted Stock | Property management and other costs	'	'	'	'
Stock-Based Compensation Plans	'	'	'	'
Compensation expense	446	389	867	814
Restricted Stock | General and administrative	'	'	'	'
Stock-Based Compensation Plans	'	'	'	'
Compensation expense	$279	$1,977	$555	$3,954

STOCKBASED_COMPENSATION_PLANS_3

STOCK-BASED COMPENSATION PLANS (Details 3) (USD $)	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
Shares	'	'
Exercised (in shares)	-83,724	-290,438
Stock options	'	'
Shares	'	'
Stock options Outstanding at the beginning of the period (in shares)	21,565,281	9,692,499
Granted (in shares)	50,000	5,901,108
Exercised (in shares)	-83,724	-285,491
Forfeited (in shares)	-244,346	-211,510
Expired (in shares)	-8,102	-14,279
Stock options Outstanding at the end of the period (in shares)	21,279,109	15,082,327
Weighted Average Exercise Price	'	'
Stock options Outstanding at the beginning of the period (in dollars per share)	17.28	13.59
Granted (in dollars per share)	22.41	19.24
Exercised (in dollars per share)	15.78	14.29
Forfeited (in dollars per share)	19.06	15.25
Expired (in dollars per share)	14.39	14.13
Stock options Outstanding at the end of the period (in dollars per share)	17.28	15.76

ACCOUNTS_AND_NOTES_RECEIVABLE_2

ACCOUNTS AND NOTES RECEIVABLE, NET (Details) (USD $)	6 Months Ended				3 Months Ended
	Jun. 30, 2014	Dec. 31, 2013	Jun. 30, 2014	Dec. 31, 2013	Jun. 30, 2014
			Unconsolidated	Unconsolidated	Aliansce
					Unconsolidated
ACCOUNTS AND NOTES RECEIVABLE, NET	'	'	'	'	'
Trade receivables	$113,811,000	$123,522,000	'	'	'
Notes receivable	278,728,000	179,559,000	'	'	'
Straight-line rent receivable	214,033,000	190,332,000	'	'	'
Other accounts receivable	4,944,000	3,377,000	'	'	'
Total Accounts and notes receivable	611,516,000	496,790,000	'	'	'
Provision for doubtful accounts	-17,505,000	-17,891,000	'	'	'
Total Accounts and notes receivable, net	594,011,000	478,899,000	170,099,000	187,533,000	'
Notes receivable	'	'	'	'	156,400,000
Effective interest rate (as a percent)	'	'	'	'	14.00%
Term of note	'	'	'	'	'5 years
Notes, Loans and Financing Receivable, Gross, Noncurrent	$85,300,000	'	'	'	'
Note Receivable Interest Rate Stated	7.50%	'	'	'	'

PREPAID_EXPENSES_AND_OTHER_ASS2

PREPAID EXPENSES AND OTHER ASSETS (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Intangible assets:	'	'
Gross Asset	$1,215,126	$1,297,921
Accumulated Amortization	-524,364	-512,429
Balance	690,762	785,492
Remaining Prepaid expenses and other assets:	'	'
Security and escrow deposits	99,426	145,999
Prepaid expenses	53,620	23,283
Other non-tenant receivables	17,445	25,988
Deferred tax, net of valuation allowances	2,576	906
Other	9,587	13,901
Total remaining Prepaid expenses and other assets	182,654	210,077
Total Prepaid expenses and other assets	873,416	995,569
Above-market tenant leases, net	'	'
Intangible assets:	'	'
Gross Asset	940,441	1,022,398
Accumulated Amortization	-485,654	-478,998
Balance	454,787	543,400
Below-market ground leases, net	'	'
Intangible assets:	'	'
Gross Asset	163,179	164,017
Accumulated Amortization	-15,720	-13,597
Balance	147,459	150,420
Real estate tax stabilization agreement, net	'	'
Intangible assets:	'	'
Gross Asset	111,506	111,506
Accumulated Amortization	-22,990	-19,834
Balance	$88,516	$91,672

ACCOUNTS_PAYABLE_AND_ACCRUED_E2

ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Intangible liabilities:	'	'
Gross Liability	$595,525	$647,734
Accumulated Accretion	-274,891	-277,526
Balance	320,634	370,208
Remaining Accounts payable and accrued expenses:	'	'
Accrued interest	54,326	58,777
Accounts payable and accrued expenses	91,936	102,246
Accrued real estate taxes	94,524	92,663
Deferred gains/income	91,149	115,354
Accrued payroll and other employee liabilities	40,282	34,006
Construction payable	63,180	103,988
Tenant and other deposits	21,991	21,434
Insurance reserve liability	17,137	16,643
Capital lease obligations	12,392	12,703
Conditional asset retirement obligation liability	9,153	10,424
Uncertain tax position liability	7,077	5,536
Other	15,605	27,013
Total remaining Accounts payable and accrued expenses	518,752	600,787
Total Accounts payable and accrued expenses	839,386	970,995
Below-market tenant leases, net	'	'
Intangible liabilities:	'	'
Gross Liability	571,131	622,710
Accumulated Accretion	-267,553	-271,215
Balance	303,578	351,495
Above-market headquarters office leases, net	'	'
Intangible liabilities:	'	'
Gross Liability	15,267	15,268
Accumulated Accretion	-5,999	-5,130
Balance	9,268	10,138
Above-market ground leases, net	'	'
Intangible liabilities:	'	'
Gross Liability	9,127	9,756
Accumulated Accretion	-1,339	-1,181
Balance	$7,788	$8,575

LITIGATION_Details

LITIGATION (Details) (USD $)	3 Months Ended	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2013
	taxpayer
Litigation	'	'	'	'
Gain (Loss) Related to Litigation Settlement	'	($17,854,000)	$0	'
Preferred Units, Contributed Capital	60,000,000	60,000,000	'	'
Economic Interest in Joint Venture Received by Co Venturer Percent	5.60%	5.60%	'	'
Estimated Tax and Interest Due One Decision is Entered By Tax Court	202,000,000	202,000,000	'	'
Number of taxpayers under audit	2	'	'	'
Tax indemnification liability	321,958,000	321,958,000	'	321,958,000
HHC	'	'	'	'
Litigation	'	'	'	'
Successor indemnified percentage of losses of HHC and its subsidiaries	93.75%	'	'	'
Maximum amount indemnified, solely to the extent directly attributable to MPC Taxes	$303,800,000	'	'	'

COMMITMENTS_AND_CONTINGENCIES_1

COMMITMENTS AND CONTINGENCIES (Details) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Commitments and Contingencies Disclosure [Abstract]	'	'	'	'
Contractual rent expense, including participation rent	$3,193	$3,679	$6,452	$6,957
Contractual rent expense, including participation rent and excluding amortization of above and below-market ground leases and straight-line rent	$2,039	$2,456	$4,142	$4,512

SUBSEQUENT_EVENTS_Details

SUBSEQUENT EVENTS (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013	Jun. 30, 2014	Jul. 31, 2014	Aug. 01, 2014	Aug. 01, 2014	Jul. 11, 2014
			LIBOR	Subsequent Event	Subsequent Event	Subsequent Event	Subsequent Event
					property	LIBOR	LIBOR
Subsequent Event [Line Items]	'	'	'	'	'	'	'
Long-term debt	$91,793,000	$64,979,000	'	'	$1,400,000,000	'	'
Number of Properties Subject to Collateralized Debt Obligations	'	'	'	'	14	'	'
Basis spread on variable rate (as a percent)	'	'	2.50%	'	'	1.75%	2.50%
Mortgage Loans on Real Estate, New Mortgage Loans	'	'	'	100,000,000	'	'	'
Debt Instrument Maturity Number of Extensions	'	'	'	'	2	'	'
Repayments of Debt	'	'	'	$81,800,000	'	'	'