Brookfield Property REIT (BPYU) 10-Q 1 May 15 2015 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Mar. 31, 2015	Apr. 28, 2015
Document and Entity Information
Entity Registrant Name	General Growth Properties, Inc.
Entity Central Index Key	1496048
Document Type	10-Q
Document Period End Date	31-Mar-15
Amendment Flag	FALSE
Current Fiscal Year End Date	-19
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		886,203,025
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1

CONSOLIDATED_BALANCE_SHEETS

CONSOLIDATED BALANCE SHEETS (USD $)	Mar. 31, 2015		Dec. 31, 2014
In Thousands, unless otherwise specified
Investment in real estate:
Land	$3,639,735		$4,244,607
Buildings and equipment	16,208,711		18,028,844
Less accumulated depreciation	-2,140,032		-2,280,845
Construction in progress	331,604		703,859
Net property and equipment	18,040,018		20,696,465
Investment in and loans to/from Unconsolidated Real Estate Affiliates	3,474,620		2,604,762
Net investment in real estate	21,514,638		23,301,227
Cash and cash equivalents	173,273		372,471
Accounts and notes receivable, net	624,153		663,768
Deferred expenses, net	173,909		184,491
Prepaid expenses and other assets	846,965		813,777
Assets Held-for-sale, Not Part of Disposal Group, Current	94,730
Total assets	23,427,668		25,335,734
Liabilities:
Mortgages, notes and loans payable	13,763,034	[1]	15,998,289	[1]
Investment in Unconsolidated Real Estate Affiliates	36,108		35,598
Accounts payable and accrued expenses	715,313		934,897
Dividend payable	157,968		154,694
Deferred tax liabilities	8,588		21,240
Tax indemnification liability			0
Junior subordinated notes	206,200		206,200
Liabilities Held For Disposition	67,000
Total liabilities	14,954,211		17,350,918
Redeemable noncontrolling interests:
Preferred	168,736		164,031
Common	141,679		135,265
Total redeemable noncontrolling interests	310,415		299,296
Commitments and Contingencies	0		0
Equity:
11,000,000,000 shares authorized, $0.01 par value, 969,543,198 issued, 886,114,613 outstanding as of March 31, 2015, and 968,340,597 issued, 884,912,012 outstanding as of December 31, 2014	9,421		9,409
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	11,363,799		11,351,625
Retained earnings (accumulated deficit)	-2,342,725		-2,822,740
Accumulated other comprehensive loss	-69,263		-51,753
Common stock in treasury, at cost, 55,969,390 shares as of March 31, 2015 and December 31, 2014	-1,122,664		-1,122,664
Total stockholders’ equity	8,080,610		7,605,919
Noncontrolling interest in real estate	78,695
Noncontrolling interests in consolidated real estate affiliates			79,601
Noncontrolling Interest in Operating Partnerships	3,737		0
Total equity	8,163,042		7,685,520
Total liabilities, redeemable noncontrolling interests and equity	$23,427,668		$25,335,734
[1]	Includes market rate adjustments of $34.5 million and $19.9 million as of March 31, 2015 and December 31, 2014, respectively.

CONSOLIDATED_BALANCE_SHEETS_Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Mar. 31, 2015	Dec. 31, 2014
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	969,543,198	968,340,597
Common stock, shares outstanding	886,114,613	884,912,012
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	55,969,390

CONSOLIDATED_STATEMENTS_OF_COM

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Revenues:
Minimum rents	$374,112,000	$389,252,000
Tenant recoveries	177,482,000	181,466,000
Overage rents	8,815,000	9,821,000
Management fees and other corporate revenues	19,086,000	16,687,000
Other	14,648,000	25,659,000
Total revenues	594,143,000	622,885,000
Expenses:
Real estate taxes	55,987,000	56,916,000
Property maintenance costs	19,881,000	21,424,000
Marketing	4,708,000	5,804,000
Other property operating costs	76,296,000	85,666,000
Provision for doubtful accounts	3,271,000	2,142,000
Property management and other costs	42,793,000	44,950,000
General and administrative	12,446,000	11,599,000
Depreciation and amortization	175,948,000	171,478,000
Total expenses	391,330,000	399,979,000
Operating income	202,813,000	222,906,000
Interest and dividend income	8,821,000	6,409,000
Interest expense	-172,651,000	-179,046,000
Gain (loss) on foreign currency	-22,910,000	5,182,000
Gains from changes in control of investment properties	591,245,000	0
Income before income taxes, equity in income of Unconsolidated Real Estate Affiliates, discontinued operations and allocation to noncontrolling interests	607,318,000	55,451,000
Benefit from (provision for) income taxes	11,159,000	-3,692,000
Equity in income of Unconsolidated Real Estate Affiliates	23,273,000	7,157,000
Equity in income of Unconsolidated Real Estate Affiliates - (loss) gain on investment	12,000,000
Income from continuing operations	641,750,000	58,916,000
Discontinued Operations Gains (Losses) on Dispositions, Net of Tax before Gain (Losses) on Extinguishment of Debt	0	72,972,000
Discontinued operations	0	72,972,000
Net income	641,750,000	131,888,000
Allocation to noncontrolling interests	-7,019,000	-3,852,000
Net income attributable to General Growth Properties, Inc.	634,731,000	128,036,000
Preferred Stock dividends	-3,984,000	-3,984,000
Net income attributable to common stockholders	630,747,000	124,052,000
Basic Earnings Per Share:
Continuing operations	$0.71	$0.06
Discontinued operations	$0	$0.08
Total basic earnings per share	$0.71	$0.14
Diluted Earnings Per Share:
Continuing operations	$0.66	$0.06
Discontinued operations	$0	$0.07
Total diluted earnings per share	$0.66	$0.13
Dividends declared per share	$0.17	$0.15
Comprehensive Income, Net:
Net income	641,750,000	131,888,000
Other comprehensive income (loss)
Foreign currency translation	-17,718,000	3,952,000
Unrealized losses on financial instruments	-21,000	0
Other comprehensive income (loss)	-17,739,000	3,952,000
Comprehensive income	624,011,000	135,840,000
Comprehensive income allocated to noncontrolling interests	-6,790,000	-3,868,000
Comprehensive income attributable to General Growth Properties, Inc.	617,221,000	131,972,000
Preferred Stock dividends	-3,984,000	-3,984,000
Comprehensive income, net, attributable to common stockholders	$613,237,000	$127,988,000

CONSOLIDATED_STATEMENTS_OF_COM1

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME Parenthetical (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Statement of Comprehensive Income (Parenthetical) [Abstract]
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Reclassification Adjustment from AOCI, Realized upon Sale or Liquidation, Tax	$0	$109,900,000

CONSOLIDATED_STATEMENTS_OF_EQU

CONSOLIDATED STATEMENTS OF EQUITY (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014	Dec. 31, 2013
Noncontrolling Interest in Operating Partnership, Period Increase (Decrease)	($9,730)	($17,079)
Contributions from (Distributions to) Noncontrolling Interests	-1,348	-1,424
Noncontrolling interests Issued During Period Value LTIP Award Net Of Forfeitures	2,832
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	8,163,042	7,616,424	7,685,520	8,185,263
Net Income (Loss), Equity Statement	636,078	128,990
Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures	940	685
Stock Issued During Period, Value, Employee Stock Purchase Plan	525	1,042
Stock Issued During Period, Value, Stock Options Exercised	20,333	7,335
Cash Dividends Reinvested Stock	118	125
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	-17,510	3,936
Dividends, Common Stock, Cash	150,732	132,664
Dividends, Preferred Stock, Cash	3,984	3,984
Preferred Stock [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	242,042	242,042	242,042	242,042
Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures	0
Cash Dividends Reinvested Stock	0
Additional Paid-in Capital [Member]
Noncontrolling Interest in Operating Partnership, Period Increase (Decrease)	-9,730	-17,079
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	11,363,799	11,364,549	11,351,625	11,372,443
Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures	937	684
Stock Issued During Period, Value, Employee Stock Purchase Plan	525	1,041
Stock Issued During Period, Value, Stock Options Exercised	20,324	7,335
Cash Dividends Reinvested Stock	118	125
Retained Earnings [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	-2,342,725	-2,924,336	-2,822,740	-2,915,723
Net Income (Loss), Equity Statement	634,731	128,035
Dividends, Common Stock, Cash	150,732	132,664
Dividends, Preferred Stock, Cash	3,984	3,984
AOCI Attributable to Parent [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	-69,263	-34,237	-51,753	-38,173
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	-17,510	3,936
Treasury Stock [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	-1,122,664	-1,122,664	-1,122,664	-566,863
Noncontrolling Interest [Member]
Contributions from (Distributions to) Noncontrolling Interests	-1,348	-1,424
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	82,432	81,673	79,601	82,142
Net Income (Loss), Equity Statement	1,347	955
Common Stock [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	9,421	9,397	9,409	9,395
Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures	3	1
Stock Issued During Period, Value, Employee Stock Purchase Plan		1
Stock Issued During Period, Value, Stock Options Exercised	9
Cash Dividends Reinvested Stock	$0

CONSOLIDATED_STATEMENTS_OF_EQU1

CONSOLIDATED STATEMENTS OF EQUITY (Parenthetical) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Statement of Stockholders' Equity [Abstract]
Restricted stock grants, shares	240,943	31,112
Employee stock purchase program, shares	21,427	52,180
Stock option grants, forfeitures, shares	936,082	26,652
LTIPUnitsIssuedDuringPeriodLTIPUnitAwardNetOfForfeitures	1,665,896	0
Treasury stock purchases, shares	0	27,624,282
Cash dividends reinvested (DRIP) in stock, shares	4,149	6,254
Cash distributions declared (in dollars per share)	$0.17	$0.15

CONSOLIDATED_STATEMENTS_OF_CAS

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Cash Flows provided by Operating Activities:
Net income	$641,750	$131,888
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in income of Unconsolidated Real Estate Affiliates	-23,273	-7,157
Distributions received from Unconsolidated Real Estate Affiliates	7,940	6,907
Provision for doubtful accounts	3,271	2,178
Depreciation and amortization	175,948	174,499
Amortization/write-off of deferred finance costs	3,176	2,567
Accretion/write-off of debt market rate adjustments	14,685	9,505
Amortization of intangibles other than in-place leases	23,063	20,035
Straight-line rent amortization	-6,087	-11,597
Deferred income taxes	-11,665	41
Gain on dispositions, net	0	-4,693
Gains from changes in control of investment properties	-591,245	0
Gain on extinguishment of debt	0	-66,680
Loss (gain) on foreign currency	22,910	-5,182
Net changes:
Accounts and notes receivable	14,576	-28
Prepaid expenses and other assets	8,965	3,814
Deferred expenses	-14,553	-7,164
Restricted cash	5,619	2,613
Accounts payable and accrued expenses	-60,305	-22,006
Other, net	8,429	7,587
Net cash provided by operating activities	223,204	237,127
Cash Flows provided by (used in) Investing Activities:
Acquisition of real estate and property additions	-164,659	0
Development of real estate and property improvements	-199,726	-128,938
Payments for Deposits on Real Estate Acquisitions	-57,046	-16,950
Proceeds from sales of investment properties	666,242	0
Loans to joint venture partners	-37,500	0
Distributions received from Unconsolidated Real Estate Affiliates in excess of income	32,474	26,546
Decrease in restricted cash	966	34
Net cash provided by (used in) investing activities	240,751	-119,308
Cash Flows used in Financing Activities:
Proceeds from refinancing/issuance of mortgages, notes and loans payable	342,440	1,235,000
Principal payments on mortgages, notes and loans payable	-874,033	-836,920
Deferred finance costs	-618	-1,838
Treasury stock purchases	0	-555,801
Cash distributions paid to common stockholders	-150,393	-127,567
Cash distributions paid to Preferred Stockholders	-3,984	-3,984
Cash redemptions paid to holders of common units	-192	0
Other, net	23,627	-851
Net cash used in financing activities	-663,153	-291,961
Net change in cash and cash equivalents	-199,198	-174,142
Cash and cash equivalents at beginning of period	372,471	577,271
Cash and cash equivalents at end of period	173,273	403,129
Supplemental Disclosure of Cash Flow Information:
Interest paid	166,573	172,135
Interest capitalized	4,255	4,361
Income taxes paid	4,237	1,574
Accrued capital expenditures included in accounts payable and accrued expenses	102,619	63,214
Non-Cash Sale of Property
Assets	0	21,426
Liabilities and equity	$0	($21,426)

ORGANIZATION

ORGANIZATION	3 Months Ended
	Mar. 31, 2015
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, 2014 which are included in the Company’s Annual Report on Form 10-K (the “Annual Report”) for the fiscal year ended December 31, 2014 (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 March 31, 2015, we are the owner, either entirely or with joint venture partners, of 129 retail properties.
	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 March 31, 2015, GGP held approximately a 99% common equity ownership (without giving effect to the potential conversion of the Preferred Units and LTIP Units as defined below) of the Operating Partnerships, while the remaining 1% is 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). GGPOP has full value long term incentive plan units and appreciation only long term incentive plan units (collectively “LTIP Units”), which are redeemable for cash or, at our option, Common Units (Note 12).
	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 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	3 Months Ended
	Mar. 31, 2015
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. The Company's chief operating decision maker is comprised of a team of several members of executive management who use Company NOI in assessing segment operating performance. 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.There are no individual operating segments that are greater than 10% of combined revenue, Company NOI, or combined assets. Company NOI excludes certain non-cash and non-comparable items such as straight-line rent and intangible asset and liability amortization, which are a result of our emergence, acquisition accounting and other capital contribution or restructuring events. 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.
	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 20 - 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 March 31, 2015
	Tenant leases:
	In-place value	$	477,416		$	(276,637	)	$	200,779
	As of December 31, 2014
	Tenant leases:
	In-place value	$	608,840		$	(362,531	)	$	246,309
	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 March 31,
		2015			2014
	Amortization/accretion effect on continuing operations	$	(48,880	)	$	(52,089	)
	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
	2015 Remaining		$	82,945
	2016		92,563
	2017		68,829
	2018		44,178
	2019		25,792
	Revenue Recognition and Related Matters
	Minimum rents are recognized on a straight-line basis over the terms of the related operating leases, including the effect of any free rent periods. Minimum rents also include lease termination income collected from tenants to allow for the tenant to vacate their space prior to their scheduled termination dates, as well as, accretion related to above and below-market tenant leases on acquired properties and properties that were recorded at fair value at the Effective Date.
	Overage rent is paid by a tenant when the tenant's sales exceed an agreed upon minimum amount and is recognized on an accrual basis once tenant sales exceed contractual tenant lease thresholds and is calculated by multiplying the sales in excess of the minimum amount by a percentage defined in the lease.
	Tenant recoveries are established in the leases or computed based upon a formula related to real estate taxes, insurance and other property operating expenses and are generally recognized as revenues in the period the related costs are incurred.
	Real estate sales are recognized whenever (1) a sale is consummated, (2) the buyer has demonstrated an adequate commitment to pay for the property, (3) the Company’s receivable is not subject to future subordination, and (4) the Company has transferred to the buyer the risks and rewards of ownership and does not have continuing involvement. Unless all conditions are met, recognition of all or a portion of the profit shall be postponed.
	We provide an allowance for doubtful accounts against the portion of accounts receivable, including straight-line rents, which is estimated to be uncollectible. Such allowances are reviewed periodically based upon our recovery experience.
	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 March 31,
		2015			2014
	Management fees from affiliates	$	19,086		$	16,687
	Management fee expense	(7,276		)	(6,690		)
	Net management fees from affiliates	$	11,810		$	9,997
	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.
	No provisions for impairment were recognized for the three months ended March 31, 2015 and 2014.
	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 months ended March 31, 2015 and 2014.
	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.
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 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 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 adopted this pronouncement effective January 1, 2015. This definition has been applied prospectively and is anticipated to substantially reduce the number of transactions, going forward, that qualify for discontinued operations as compared to historical results. (See Note 4 to the Consolidated Financial Statements).
Effective January 1, 2016, companies will be required to present debt issuance costs related to a recognized debt liability as a direct deduction from the carrying amount of that debt liability on the balance sheet. The recognition and measurement guidance for debt issuance costs will not be affected. The adoption of this pronouncement will result in the reclassification of unamortized capitalized loan fees from other assets to a direct reduction of the Company’s indebtedness on the consolidated balance sheets.
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. On April 1, 2015, the Financial Accounting Standards Board voted for a one-year deferral of the effective date of the new revenue recognition standard. If approved, the new standard will become effective for the Company beginning with the first quarter 2018 and can be adopted either retrospectively to each prior reporting period presented or as a cumulative effect adjustment as of the date of adoption. 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	3 Months Ended
	Mar. 31, 2015
Business Combinations [Abstract]
ACQUISITIONS AND JOINT VENTURE ACTIVITY	ACQUISITIONS AND JOINT VENTURE ACTIVITY
	On March 31, 2015, we acquired a 50% interest in a joint venture with Sears Holdings Corporation that owns anchor pads and in-place leases at 12 stores located at our properties for approximately $165.0 million. We recorded the investment in the joint venture for approximately $164.5 million ($165.0 million net of prorations and acquisition costs) to investment in and loans to/from Unconsolidated Real Estate Affiliates on our Consolidated Balance Sheet as of March 31, 2015. We have also committed to invest $33.3 million in a new REIT formed by Sears Holdings Corporation.
	During the three months ended March 31, 2015, we sold a 25% interest in Ala Moana Center in Honolulu, Hawaii for net proceeds of $907.0 million. We received $670.0 million at closing and will receive the remaining proceeds of $237.0 million in late 2016 after substantial completion of the redevelopment. Upon closing, our joint venture partner received a 25% economic interest in the joint venture. Subsequent to quarter end, we sold an additional 12.5% interest in Ala Moana Center under similar terms (Note 18).
	In accordance with applicable accounting standards for real estate sales with future development required, we recognized a $584.4 million gain on change in control of investment properties as of the closing date calculated on the percentage of the basis (real estate asset carrying value of Ala Moana Center and development costs incurred to date) as compared to the total estimated costs expected to be incurred through completion of the development. During the three months ended March 31, 2015, we recognized an additional $6.8 million gain on change of control of investment properties using the percentage of completion method for the construction completed from the closing date on February 27, 2015 through March 31, 2015. We will recognize an additional $57.4 million in gain on change of control of investment properties through substantial completion of construction. In total, we recorded a gain from change in control of investment properties of $591.2 million on our Consolidated Statement of Comprehensive Income for the three months ended March 31, 2015 as a result of this transaction.
	We account for the 75% interest in the joint venture that holds Ala Moana Center under the equity method of accounting (Note 6) because we share control over major decisions with the joint venture partner which results in the partner retaining substantive participating rights. Ala Moana Center was previously wholly owned by GGP and accounted for on a consolidated basis.
	The table below summarizes the gain calculation ($ in millions):
	Total proceeds (net of transaction costs of $6.8 million)	$	900.2
	Joint venture partner share of debt	462.5
	Total consideration	1,362.70
	Less: JV partner proportionate share of investment in Ala Moana Center and estimated development costs	(714.1		)
	Total gain to be recognized from change in control of investment property and development	648.6
	Gain attributable to JV partner proportionate share of investment in Ala Moana Center at closing	584.4
	Gain attributable to post-sale development activities through March 31, 2015	6.8
	Estimated future gain on change in control of investment properties related to completion of development	$	57.4

DISCONTINUED_OPERATIONS_AND_GA

DISCONTINUED OPERATIONS AND GAINS (LOSSES) ON DISPOSITIONS OF OPERATING PROPERTIES	3 Months Ended
	Mar. 31, 2015
Discontinued Operations and Disposal Groups [Abstract]
DISCONTINUED OPERATIONS AND GAINS (LOSSES) ON DISPOSITIONS OF OPERATING PROPERTIES	DISCONTINUED OPERATIONS AND GAINS ON DISPOSITIONS OF OPERATING PROPERTIES
	In the first quarter of 2015, the Company adopted Accounting Standards Update (ASU) No. 2014-08, "Reporting Discontinued operations and Disclosures of Disposals of Components of an Entity" issued by the Financial Accounting Standards Board. ASU No. 2014-08 changes the definition of a discontinued operation to include only those disposals of components of an entity that represent a strategic shift that has (or will have) a major effect on an entity's operations and financial results (e.g., a disposal of a major geographical area, a major line of business, a major equity method investment or other major parts of an entity). The Company’s adoption of ASU No. 2014-08 resulted in a change in how the Company would record operating results and gains on sales of real estate. Any future sales would not be reflected within Discontinued Operations in the Company’s Consolidated Statements of Operations.
	We have one property approved for sale and classified as held for disposition as of March 31, 2015. The assets and liabilities of this property have been reclassified to assets and liablities held for disposition on the Consolidated Balance Sheet as of March 31, 2015.
	The Company did not have any dispositions during the three months ended March 31, 2015 that qualified for discontinued operations presentation subsequent to its adoption of ASU No. 2014-08. The following table summarizes the operations of the properties included in discontinued operations for the three months ended March 31, 2014.
		Three Months Ended March 31,
		2014
	Retail and other revenue	$	10,051
	Retail and other operating expenses	6,976
	Operating income	3,075
	Interest expense, net	(1,476		)
	Gains on dispositions	4,693
	Net income from operations	6,292
	Gain on debt extinguishment	66,680
	Net income from discontinued operations	$	72,972

FAIR_VALUE

FAIR VALUE	3 Months Ended
	Mar. 31, 2015
Fair Value Disclosures [Abstract]
Fair Value Disclosures [Text Block]	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 March 31, 2015 and December 31, 2014.
		March 31, 2015				December 31, 2014
		Carrying Amount (1) (2)		Estimated Fair		Carrying Amount (1)		Estimated Fair
				Value (2)				Value
	Fixed-rate debt	$	11,667,588	$	12,387,240	$	13,606,936	$	14,211,247
	Variable-rate debt	2,095,446		2,104,654		2,391,353		2,399,547
		$	13,763,034	$	14,491,894	$	15,998,289	$	16,610,794
	(1) Includes market rate adjustments of $34.5 million and $19.9 million as of March 31, 2015 and December 31, 2014, respectively.
	(2) Excludes carrying value of $67.0 million of mortgage notes included in liabilities held for disposition. The carrying value approximates the fair value.
	The fair value of our Junior Subordinated Notes approximates their carrying amount as of March 31, 2015 and December 31, 2014. 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	3 Months Ended
	Mar. 31, 2015
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.
		March 31, 2015				December 31, 2014
	Condensed Combined Balance Sheets - Unconsolidated Real Estate Affiliates (1)
	Assets:
	Land	$	1,736,027			$	1,152,485
	Buildings and equipment	12,009,777				10,009,490
	Less accumulated depreciation	(2,863,321		)		(2,591,347		)
	Construction in progress	679,808				125,931
	Net property and equipment	11,562,291				8,696,559
	Investment in unconsolidated joint ventures	16,374				16,462
	Net investment in real estate	11,578,665				8,713,021
	Cash and cash equivalents	300,923				308,621
	Accounts and notes receivable, net	216,038				203,511
	Deferred expenses, net	340,092				281,835
	Prepaid expenses and other assets	754,461				594,257
	Total assets	$	13,190,179			$	10,101,245
	Liabilities and Owners’ Equity:	\
	Mortgages, notes and loans payable	$	9,594,565			$	7,945,828
	Accounts payable, accrued expenses and other liabilities	540,513				418,995
	Cumulative effect of foreign currency translation (“CFCT”)	(50,108		)		(35,238		)
	Owners’ equity, excluding CFCT	3,105,209				1,771,660
	Total liabilities and owners’ equity	$	13,190,179			$	10,101,245
	Investment In and Loans To/From Unconsolidated Real Estate Affiliates, Net:
	Owners’ equity	$	3,055,101			$	1,736,422
	Less: joint venture partners’ equity	(1,284,174		)		(861,515		)
	Plus: excess investment/basis differences	1,667,585				1,694,257
	Investment in and loans to/from Unconsolidated Real Estate Affiliates, net	$	3,438,512			$	2,569,164
	Reconciliation - Investment In and Loans To/From Unconsolidated Real Estate Affiliates:
	Asset - Investment in and loans to/from Unconsolidated Real Estate Affiliates	$	3,474,620			$	2,604,762
	Liability - Investment in Unconsolidated Real Estate Affiliates	(36,108		)		(35,598		)
	Investment in and loans to/from Unconsolidated Real Estate Affiliates, net	$	3,438,512			$	2,569,164
	(1) The Condensed Combined Balance Sheets - Unconsolidated Real Estate Affiliates include Ala Moana Center as of March 31, 2015 as the property was contributed into a joint venture during the first quarter of 2015.
			Three Months Ended March 31,
			2015				2014
	Condensed Combined Statements of Income - Unconsolidated Real Estate Affiliates (1)
	Revenues:
	Minimum rents		$	223,959			$	185,100
	Tenant recoveries		98,024				87,346
	Overage rents		6,152				4,855
	Other		12,529				11,735
	Total revenues		340,664				289,036
	Expenses:
	Real estate taxes		26,879				27,636
	Property maintenance costs		12,655				11,592
	Marketing		3,980				3,567
	Other property operating costs		47,569				41,897
	Provision for doubtful accounts		3,337				815
	Property management and other costs (2)		15,254				14,167
	General and administrative		1,115				483
	Depreciation and amortization		93,922				75,626
	Total expenses		204,711				175,783
	Operating income		135,953				113,253
	Interest income		1,954				1,547
	Interest expense		(92,297		)		(72,685		)
	Provision for income taxes		(205		)		(188		)
	Equity in loss of unconsolidated joint ventures		(180		)		—
	Income from continuing operations		45,225				41,927
	Net income from disposed investment		—				324
	Allocation to noncontrolling interests		(8		)		(4		)
	Net income attributable to the ventures		$	45,217			$	42,247
	Equity In Income of Unconsolidated Real Estate Affiliates:
	Net income attributable to the ventures		$	45,217			$	42,247
	Joint venture partners’ share of income		(22,243		)		(24,217		)
Amortization of capital or basis differences		299				(10,873		)
Equity in income of Unconsolidated Real Estate Affiliates		$	23,273			$	7,157
(1) The Condensed Combined Statements of Income - Unconsolidated Real Estate Affiliates include income from Ala Moana Center subsequent to the formation of the joint venture on February 27, 2015.
(2) 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 25 domestic joint ventures, comprising 40 U.S. retail properties and two 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.
On January 29, 2015, we sold our interest in a joint venture that owns Trails Village, which resulted in our recognition of a gain of $12.0 million. The $12.0 million is recognized within equity in income of Unconsolidated Real Estate Affiliates on our Consolidated Statements of Operations and Comprehensive Income. The gain is included in amortization of capital or basis differences in the table above.
To the extent that the Company contributes assets to a joint venture accounted for using the equity method, the Company’s investment in the joint venture is recorded at the Company’s cost basis in the assets that were contributed to the joint venture. The Company will recognize gains and losses on the contribution of its real estate to joint ventures, relating solely to the outside partner’s interest, to the extent the buyer is independent of the Company, the collection of the sales price is reasonably assured, and the Company will not be required to support the operations of the property or its related obligations to an extent greater than its proportionate interest.
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 $5.2 billion as of March 31, 2015 and $3.9 billion as of December 31, 2014, 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 $88.9 million at one property as of March 31, 2015, and $89.3 million as of December 31, 2014. 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 March 31, 2015, 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	3 Months Ended
	Mar. 31, 2015
Debt Disclosure [Abstract]
Fair Value Disclosures [Text Block]	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 March 31, 2015 and December 31, 2014.
		March 31, 2015					December 31, 2014
		Carrying Amount (1) (2)		Estimated Fair			Carrying Amount (1)			Estimated Fair
				Value (2)						Value
	Fixed-rate debt	$	11,667,588	$	12,387,240		$	13,606,936		$	14,211,247
	Variable-rate debt	2,095,446		2,104,654			2,391,353			2,399,547
		$	13,763,034	$	14,491,894		$	15,998,289		$	16,610,794
	(1) Includes market rate adjustments of $34.5 million and $19.9 million as of March 31, 2015 and December 31, 2014, respectively.
	(2) Excludes carrying value of $67.0 million of mortgage notes included in liabilities held for disposition. The carrying value approximates the fair value.
	The fair value of our Junior Subordinated Notes approximates their carrying amount as of March 31, 2015 and December 31, 2014. 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.
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:
		March 31, 2015 (1)		Weighted-Average		December 31, 2014 (3)			Weighted-Average
				Interest Rate (2)					Interest Rate (2)
	Fixed-rate debt:
	Collateralized mortgages, notes and loans payable (4)	$	11,662,579	4.49	%	$	13,600,337		4.52	%
	Corporate and other unsecured loans	5,009		4.41	%	6,599			4.41	%
	Total fixed-rate debt	11,667,588		4.49	%	13,606,936			4.52	%
	Variable-rate debt:
	Collateralized mortgages, notes and loans payable (4)	1,995,446		1.99	%	2,291,353			2	%
	Revolving credit facility	100,000		1.75	%	100,000			1.73	%
	Total variable-rate debt	2,095,446		1.98	%	2,391,353			1.99	%
	Total Mortgages, notes and loans payable	$	13,763,034	4.11	%	$	15,998,289		4.14	%
	Junior Subordinated Notes	$	206,200	1.7	%	$	206,200		1.68	%
	Variable-rate mortgages held for disposition	$	67,000	2.67	%	$	—		—	%
	(1) Includes $34.5 million of market rate adjustments, net.
	(2) Represents the weighted-average interest rates on our contractual principal balances.
	(3) Includes $19.9 million of market rate adjustments, net.
	(4) $100.4 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 March 31, 2015, $18.1 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 $13.7 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 three months ended March 31, 2015, we refinanced a $220.0 million consolidated mortgage note at one property and generated proceeds of $7.1 million. The prior loan had a term-to-maturity of 2.7 years, and an interest rate of 5.6%. The new loan has a term-to-maturity of 10.0 years, and an interest rate of 3.9%. In addition, we paid down $527.2 million of consolidated mortgage notes at four properties. The prior loans had a weighted-average term-to-maturity of 1.6 years, and a weighted-average interest rate of 5.2%.
	Corporate and Other Unsecured Loans
	We have certain unsecured debt obligations, the terms of which are described below:
		March 31, 2015 (2)		Weighted-Average		December 31, 2014 (3)			Weighted-Average
				Interest Rate					Interest Rate
	Unsecured debt:
	HHC Note (1)	$	5,079	4.41	%	$	6,735		4.41	%
	Revolving credit facility	100,000		1.75	%	100,000			1.73	%
	Total unsecured debt	$	105,079	1.88	%	$	106,735		1.9	%
	(1) Matures in December 2015.
	(2) Excludes a market rate discount of $0.1 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 $0.1 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 $1.1 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 March 31, 2015. $100.0 million was outstanding on the Facility, as of March 31, 2015.
	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 March 31, 2015 and December 31, 2014.
	Letters of Credit and Surety Bonds
	We had outstanding letters of credit and surety bonds of $49.9 million as of March 31, 2015 and $49.1 million as of December 31, 2014. 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 March 31, 2015.

INCOME_TAXES

INCOME TAXES	3 Months Ended
	Mar. 31, 2015
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 a requirement to distribute at least 90% of our taxable ordinary income. 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 and capital gains. We are currently statutorily open to audit by the Internal Revenue Service for the years ended December 31, 2011 through 2014 and are statutorily open to audit by state taxing authorities for the years ended December 31, 2010 through 2014.
	We believe that it is reasonably possible that all of our currently remaining unrecognized tax benefits may be recognized by the end of 2015 upon potential settlement of an audit and the expiration of the statute of limitations.

WARRANTS

WARRANTS	3 Months Ended
	Mar. 31, 2015
WARRANTS
WARRANTS	WARRANTS
	Brookfield owns 73,930,000 warrants (the “Warrants”) to purchase common stock of GGP with an initial weighted average exercise price of $10.70. Each Warrant was fully vested upon issuance, has a term of seven years and expires on November 9, 2017. Below is a summary of Warrants that were originally issued and are still outstanding.
	Initial Warrant Holder	Number of Warrants	Initial Exercise Price
	Brookfield - A	57,500,000	$	10.75
	Brookfield - B	16,430,000	10.5
		73,930,000
	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 originally issued 73,930,000 Warrants. During 2014 and 2015, the number of shares issuable upon exercise of the outstanding Warrants changed as follows:
			Exercise Price
	Record Date	Issuable Shares	Brookfield - A		Brookfield - B
	April 15, 2014	85,668,428	9.28		9.06
	July 15, 2014	86,215,500	9.22		9.01
	October 15, 2014	86,806,928	9.16		8.94
	December 15, 2014	87,353,999	9.1		8.89
	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 68,000,000 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 March 31, 2015, the Warrants are exercisable into approximately 61 million common shares of the Company, at a weighted-average exercise price of approximately $9.05 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.

EQUITY_AND_REDEEMABLE_NONCONTR

EQUITY AND REDEEMABLE NONCONTROLLING INTERESTS	3 Months Ended
	Mar. 31, 2015
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 GGPOP Common, Preferred, and LTIP 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 March 31,
			2015				2014
	Distributions to preferred GGPOP units		$	(2,232	)		$	(2,232	)
	Net income allocation to noncontrolling interests in GGPOP from continuing operations (common units)		(3,440		)		(664		)
	Net income allocation to noncontrolling interests in GGPOP from continuing operations (LTIP units)		(906		)		—
	Net income allocated to noncontrolling interest in consolidated real estate affiliates		(441		)		(956		)
	Allocation to noncontrolling interests		(7,019		)		(3,852		)
	Other comprehensive loss (income) allocated to noncontrolling interests		229				(16		)
	Comprehensive income allocated to noncontrolling interests		$	(6,790	)		$	(3,868	)
	Redeemable Noncontrolling Interests
	The noncontrolling interest related to the Common, Preferred, and LTIP Units of GGPOP are presented either as redeemable noncontrolling interests or as noncontrolling interests in our permanent equity on our Consolidated Balance Sheets. Classification as redeemable or permanent equity is considered on a tranche-by-tranche basis and is dependent on whether we could be required, under certain events outside of our control, to redeem the securities for cash by the holders of the securities. Those tranches for which we could be required to redeem the security for cash are included in redeemable equity. If we control the decision to redeem the securities for cash, the securities are classified as permanent equity.
	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 March 31, 2015, the aggregate amount of cash we would have paid would have been $168.7 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 March 31, 2015			Converted Basis to Common Units Outstanding as of March 31, 2015	Conversion Price		Redemption Value
	Series B (1)		3			1,268,957			3,958,242	$	16.6667	116,966
	Series D		1.50821			532,750			803,498	33.15188		26,637
	Series E		1.29836			502,658			652,631	38.51		25,133
												$	168,736
	(1) The conversion price of Series B preferred units is lower than the GGP March 31, 2015 closing common stock price of $29.55; therefore, the March 31, 2015 common stock price of $29.55, 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 three months ended March 31, 2015, and 2014.
	Balance at January 1, 2014	$	228,902
	Net income	664
	Distributions	(726		)
	Other comprehensive income	16
	Fair value adjustment for noncontrolling interests in Operating Partnership	17,079
	Balance at March 31, 2014	$	245,935
	Balance at January 1, 2015	$	299,296
	Net income	3,440
	Distributions	(1,109		)
	Redemption of GGPOP units	(713		)
	Other comprehensive loss	(229		)
	Fair value adjustment for noncontrolling interests in Operating Partnership	9,730
	Balance at March 31, 2015	$	310,415
	Common Stock Dividend
	Our Board of Directors declared common stock dividends during 2015 and 2014 as follows:
	Declaration Date		Record Date		Payment Date		Dividend Per Share
	2015
	19-Feb		15-Apr		30-Apr-15		$	0.17
	2014
	14-Nov		15-Dec		January 2, 2015		$	0.17
	12-Aug		15-Oct		October 31, 2014		0.16
	15-May		15-Jul		July 31, 2014		0.15
	26-Feb		15-Apr		April 30, 2014		0.15
	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, 4,149 shares were issued during the three months ended March 31, 2015 and 6,254 shares were issued during the three months ended March 31, 2014.
	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 2015 and 2014 as follows:
	Declaration Date		Record Date		Payment Date		Dividend Per Share
	2015
	19-Feb		16-Mar		1-Apr-15		$	0.3984
	2014
	14-Nov		15-Dec		January 2, 2015		$	0.3984
	12-Aug		15-Sep		October 1, 2014		0.3984
	15-May		16-Jun		July 1, 2014		0.3984
	26-Feb		17-Mar		April 1, 2014		0.3984

EARNINGS_PER_SHARE

EARNINGS PER SHARE	3 Months Ended
	Mar. 31, 2015
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 and the dilutive effect of options and their equivalents (including fixed awards and nonvested stock issued under stock-based compensation plans), are computed using the “treasury” method.
	Information related to our EPS calculations is summarized as follows:
		Three Months Ended March 31,
		2015			2014
	Numerators - Basic and Diluted:
	Income from continuing operations	$	641,750		$	58,916
	Preferred Stock dividends	(3,984		)	(3,984		)
	Allocation to noncontrolling interests	(7,019		)	(3,488		)
	Income from continuing operations - attributable to common stockholders	630,747			51,444
	Discontinued operations	—			72,972
	Allocation to noncontrolling interests	—			(364		)
	Discontinued operations - net of noncontrolling interests	—			72,608
	Net income	641,750			131,888
	Preferred Stock dividends	(3,984		)	(3,984		)
	Allocation to noncontrolling interests	(7,019		)	(3,852		)
	Net income attributable to common stockholders	$	630,747		$	124,052
	Denominators:
	Weighted-average number of common shares outstanding - basic	885,462			896,257
	Effect of dilutive securities	68,970			51,714
	Weighted-average number of common shares outstanding - diluted	954,432			947,971
	Anti-dilutive Securities:
	Effect of Preferred Units	5,472			5,506
	Effect of Common Units	4,799			4,834
	Effect of LTIP Common Units	1,256			—
		11,527			10,340
	For the three months ended March 31, 2015 and 2014, dilutive options and dilutive shares related to the Warrants are included in the denominator of EPS.
	Outstanding Common Units and LTIP 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 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 March 31, 2015, 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	3 Months Ended
	Mar. 31, 2015
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.
	On November 12, 2014, the Company’s Equity Plan was amended to allow for the grant of LTIP Units to certain officers, directors, and employees of the Company as an alternative to the Company’s stock options. LTIP Units are classes of partnership interests that under certain conditions, including vesting, are convertible by the holder into Common Units, which are redeemable by the holder for Common Shares on a one-to-one ratio (subject to adjustment for changes to GGP’s capital structure) or for the cash value of such shares at the option of the Company.
	Compensation expense related to stock-based compensation plans for the three months ended March 31, 2015, and 2014 is summarized in the following table in thousands:
		Three Months Ended March 31,
		2015			2014
	Stock options - Property management and other costs	$	1,889		$	2,205
	Stock options - General and administrative	2,794			4,697
	Restricted stock - Property management and other costs	773			421
	Restricted stock - General and administrative	148			276
	LTIP Units - Property management and other costs	383			—
	LTIP Units - General and administrative	2,466			—
	Total	$	8,453		$	7,599
	The following tables summarize stock option and LTIP Unit activity for the Equity Plan for GGP for the three months ended March 31, 2015, and 2014:
		2015					2014
		Shares		Weighted Average			Shares		Weighted Average
				Exercise					Exercise
				Price					Price
	Stock options Outstanding at January 1,	19,744,224		$	17.36		21,565,281		$	17.28
	Granted	267,253		29.15			50,000		22.41
	Exercised	(936,082	)	16.75			(26,652	)	15.79
	Forfeited	(124,784	)	20.22			(107,797	)	18.78
	Expired	(2,439	)	19.24			(8,102	)	14.39
	Stock options Outstanding at March 31,	18,948,172		$	17.53		21,472,730		$	17.29
		2015					2014
		Shares		Weighted Average Exercise Price			Shares		Weighted Average Exercise Price
	LTIP Units Outstanding at January 1,	—		$	—		—		$	—
	Granted	1,758,396		29.33			—		—
	Exercised	—		—			—		—
	Forfeited	—		—			—		—
	Expired	—		—			—		—
	LTIP Units Outstanding at March 31,	1,758,396		$	29.33		—		$	—

ACCOUNTS_AND_NOTES_RECEIVABLE_

ACCOUNTS AND NOTES RECEIVABLE, NET	3 Months Ended
	Mar. 31, 2015
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.
		March 31, 2015			December 31, 2014
	Trade receivables	$	93,268		$	124,698
	Notes receivable	326,106			320,881
	Straight-line rent receivable	217,470			230,172
	Other accounts receivable	3,928			3,638
	Total accounts and notes receivable	640,772			679,389
	Provision for doubtful accounts	(16,619		)	(15,621		)
	Total accounts and notes receivable, net	$	624,153		$	663,768
	Included in notes receivable is a $110.7 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.

PREPAID_EXPENSES_AND_OTHER_ASS

PREPAID EXPENSES AND OTHER ASSETS	3 Months Ended
	Mar. 31, 2015
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.
		March 31, 2015							December 31, 2014
		Gross Asset		Accumulated			Balance		Gross Asset		Accumulated			Balance
				Amortization							Amortization
	Intangible assets:
	Above-market tenant leases, net	$	708,351	$	(405,951	)	$	302,400	$	870,103	$	(498,016	)	$	372,087
	Below-market ground leases, net	119,545		(9,191		)	110,354		119,866		(8,906		)	110,960
	Real estate tax stabilization agreement, net	111,506		(27,724		)	83,782		111,506		(26,146		)	85,360
	Total intangible assets	$	939,402	$	(442,866	)	$	496,536	$	1,101,475	$	(533,068	)	$	568,407
	Remaining prepaid expenses and other assets:
	Security and escrow deposits						77,674							93,676
	Prepaid expenses						45,085							76,306
	Other non-tenant receivables (1)						189,899							28,712
	Deferred tax, net of valuation allowances						3,233							4,220
	Other						34,538							42,456
	Total remaining prepaid expenses and other assets						350,429							245,370
	Total prepaid expenses and other assets						$	846,965						$	813,777
	(1) Includes receivable due from our joint venture partner due upon completion of the redevelopment at Ala Moana.

ACCOUNTS_PAYABLE_AND_ACCRUED_E

ACCOUNTS PAYABLE AND ACCRUED EXPENSES	3 Months Ended
	Mar. 31, 2015
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.
		March 31, 2015							December 31, 2014
		Gross Liability		Accumulated			Balance		Gross Liability		Accumulated			Balance
				Accretion							Accretion
	Intangible liabilities:
	Below-market tenant leases, net	418,874		(211,926		)	$	206,948	502,919		(259,390		)	$	243,529
	Above-market headquarters office leases, net	15,268		(7,302		)	$	7,966	15,268		(6,867		)	$	8,401
	Above-market ground leases, net	9,127		(1,614		)	$	7,513	9,127		(1,522		)	$	7,605
	Total intangible liabilities	$	443,269	$	(220,842	)	$	222,427	$	527,314	$	(267,779	)	$	259,535
	Remaining Accounts payable and accrued expenses:
	Accrued interest						46,443							54,332
	Accounts payable and accrued expenses						66,993							82,292
	Accrued real estate taxes						76,124							85,910
	Deferred gains/income						95,970							114,968
	Accrued payroll and other employee liabilities						29,585							55,059
	Construction payable						102,619							198,471
	Tenant and other deposits						12,550							21,423
	Insurance reserve liability						16,352							16,509
	Capital lease obligations						11,898							12,066
	Conditional asset retirement obligation liability						9,379							10,135
	Uncertain tax position liability						6,663							6,663
	Other						18,310							17,534
	Total remaining Accounts payable and accrued expenses						492,886							675,362
	Total Accounts payable and accrued expenses						$	715,313						$	934,897

LITIGATION

LITIGATION	3 Months Ended
	Mar. 31, 2015
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. Neither the Company nor any of the Unconsolidated Real Estate Affiliates is currently involved in any material pending legal proceedings nor, to our knowledge, is any material legal proceeding currently threatened against the Company or any of the Unconsolidated Real Estate Affiliates.

COMMITMENTS_AND_CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Mar. 31, 2015
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 March 31,
		2015		2014
		(Dollars in thousands)
	Contractual rent expense, including participation rent	$	2,300	$	3,258
	Contractual rent expense, including participation rent and excluding amortization of above and below-market ground leases and straight-line rent	1,697		2,102
	See Note 16 for our disclosure of additional contingencies.

SUBSEQUENT_EVENTS_Notes

SUBSEQUENT EVENTS (Notes)	3 Months Ended
	Mar. 31, 2015
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS
	On April 1, 2015, we acquired 85 Fifth Avenue located in New York, New York for net equity of $14.0 million. In connection with the acquisition, we provided a $7.0 million loan to our joint venture partner.
	On April 10, 2015, we sold a 12.5% interest in Ala Moana Center for net proceeds of approximately $454 million. We received $335 million at closing and expect to receive the remaining proceeds of $119 million in late 2016 upon completion of the redevelopment and expansion.
	On April 17, 2015, GGP acquired the Crown Building located at 730 Fifth Avenue in New York City for approximately $1.775 billion which was funded with $1.25 billion of secured debt. GGP’s share of the equity is $205 million. In connection with the acquisition, we provided $204.3 million in loans to our joint venture partners.
	On April 27, 2015, GGP sold the office portion of 200 Lafayette in New York City for a gross purchase price of approximately $125 million.

SUMMARY_OF_SIGNIFICANT_ACCOUNT1

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2015
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. The Company's chief operating decision maker is comprised of a team of several members of executive management who use Company NOI in assessing segment operating performance. 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.There are no individual operating segments that are greater than 10% of combined revenue, Company NOI, or combined assets. Company NOI excludes certain non-cash and non-comparable items such as straight-line rent and intangible asset and liability amortization, which are a result of our emergence, acquisition accounting and other capital contribution or restructuring events. 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
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 20 - 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 March 31, 2015
	Tenant leases:
	In-place value	$	477,416		$	(276,637	)	$	200,779
	As of December 31, 2014
	Tenant leases:
	In-place value	$	608,840		$	(362,531	)	$	246,309
	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 March 31,
		2015			2014
	Amortization/accretion effect on continuing operations	$	(48,880	)	$	(52,089	)
	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
	2015 Remaining		$	82,945
	2016		92,563
	2017		68,829
	2018		44,178
	2019		25,792
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 March 31,
		2015			2014
	Management fees from affiliates	$	19,086		$	16,687
	Management fee expense	(7,276		)	(6,690		)
	Net management fees from affiliates	$	11,810		$	9,997
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.
	No provisions for impairment were recognized for the three months ended March 31, 2015 and 2014.
	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 months ended March 31, 2015 and 2014.
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.
	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 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 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 adopted this pronouncement effective January 1, 2015. This definition has been applied prospectively and is anticipated to substantially reduce the number of transactions, going forward, that qualify for discontinued operations as compared to historical results. (See Note 4 to the Consolidated Financial Statements).
	Effective January 1, 2016, companies will be required to present debt issuance costs related to a recognized debt liability as a direct deduction from the carrying amount of that debt liability on the balance sheet. The recognition and measurement guidance for debt issuance costs will not be affected. The adoption of this pronouncement will result in the reclassification of unamortized capitalized loan fees from other assets to a direct reduction of the Company’s indebtedness on the consolidated balance sheets.
	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. On April 1, 2015, the Financial Accounting Standards Board voted for a one-year deferral of the effective date of the new revenue recognition standard. If approved, the new standard will become effective for the Company beginning with the first quarter 2018 and can be adopted either retrospectively to each prior reporting period presented or as a cumulative effect adjustment as of the date of adoption. 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)	3 Months Ended
	Mar. 31, 2015
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 March 31, 2015
	Tenant leases:
	In-place value	$	477,416		$	(276,637	)	$	200,779
	As of December 31, 2014
	Tenant leases:
	In-place value	$	608,840		$	(362,531	)	$	246,309
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 March 31,
		2015			2014
	Amortization/accretion effect on continuing operations	$	(48,880	)	$	(52,089	)
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
	2015 Remaining		$	82,945
	2016		92,563
	2017		68,829
	2018		44,178
	2019		25,792
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 March 31,
		2015			2014
	Management fees from affiliates	$	19,086		$	16,687
	Management fee expense	(7,276		)	(6,690		)
	Net management fees from affiliates	$	11,810		$	9,997

DISCONTINUED_OPERATIONS_AND_GA1

DISCONTINUED OPERATIONS AND GAINS (LOSSES) ON DISPOSITIONS OF OPERATING PROPERTIES (Tables)	3 Months Ended
	Mar. 31, 2015
Discontinued Operations and Disposal Groups [Abstract]
Summary of operations of properties included in discontinued operations
		Three Months Ended March 31,
		2014
	Retail and other revenue	$	10,051
	Retail and other operating expenses	6,976
	Operating income	3,075
	Interest expense, net	(1,476		)
	Gains on dispositions	4,693
	Net income from operations	6,292
	Gain on debt extinguishment	66,680
	Net income from discontinued operations	$	72,972

FAIR_VALUE_Tables

FAIR VALUE (Tables)	3 Months Ended
	Mar. 31, 2015
Fair Value Disclosures [Abstract]
Fair Value, Option, Quantitative Disclosures [Table Text Block]	Management’s estimates of fair value are presented below for our debt as of March 31, 2015 and December 31, 2014.
		March 31, 2015				December 31, 2014
		Carrying Amount (1) (2)		Estimated Fair		Carrying Amount (1)		Estimated Fair
				Value (2)				Value
	Fixed-rate debt	$	11,667,588	$	12,387,240	$	13,606,936	$	14,211,247
	Variable-rate debt	2,095,446		2,104,654		2,391,353		2,399,547
		$	13,763,034	$	14,491,894	$	15,998,289	$	16,610,794
	(1) Includes market rate adjustments of $34.5 million and $19.9 million as of March 31, 2015 and December 31, 2014, respectively.

UNCONSOLIDATED_REAL_ESTATE_AFF1

UNCONSOLIDATED REAL ESTATE AFFILIATES (Tables)	3 Months Ended
	Mar. 31, 2015
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.
		March 31, 2015				December 31, 2014
	Condensed Combined Balance Sheets - Unconsolidated Real Estate Affiliates (1)
	Assets:
	Land	$	1,736,027			$	1,152,485
	Buildings and equipment	12,009,777				10,009,490
	Less accumulated depreciation	(2,863,321		)		(2,591,347		)
	Construction in progress	679,808				125,931
	Net property and equipment	11,562,291				8,696,559
	Investment in unconsolidated joint ventures	16,374				16,462
	Net investment in real estate	11,578,665				8,713,021
	Cash and cash equivalents	300,923				308,621
	Accounts and notes receivable, net	216,038				203,511
	Deferred expenses, net	340,092				281,835
	Prepaid expenses and other assets	754,461				594,257
	Total assets	$	13,190,179			$	10,101,245
	Liabilities and Owners’ Equity:	\
	Mortgages, notes and loans payable	$	9,594,565			$	7,945,828
	Accounts payable, accrued expenses and other liabilities	540,513				418,995
	Cumulative effect of foreign currency translation (“CFCT”)	(50,108		)		(35,238		)
	Owners’ equity, excluding CFCT	3,105,209				1,771,660
	Total liabilities and owners’ equity	$	13,190,179			$	10,101,245
	Investment In and Loans To/From Unconsolidated Real Estate Affiliates, Net:
	Owners’ equity	$	3,055,101			$	1,736,422
	Less: joint venture partners’ equity	(1,284,174		)		(861,515		)
	Plus: excess investment/basis differences	1,667,585				1,694,257
	Investment in and loans to/from Unconsolidated Real Estate Affiliates, net	$	3,438,512			$	2,569,164
	Reconciliation - Investment In and Loans To/From Unconsolidated Real Estate Affiliates:
	Asset - Investment in and loans to/from Unconsolidated Real Estate Affiliates	$	3,474,620			$	2,604,762
	Liability - Investment in Unconsolidated Real Estate Affiliates	(36,108		)		(35,598		)
	Investment in and loans to/from Unconsolidated Real Estate Affiliates, net	$	3,438,512			$	2,569,164
	(1) The Condensed Combined Balance Sheets - Unconsolidated Real Estate Affiliates include Ala Moana Center as of March 31, 2015 as the property was contributed into a joint venture during the first quarter of 2015.
			Three Months Ended March 31,
			2015				2014
	Condensed Combined Statements of Income - Unconsolidated Real Estate Affiliates (1)
	Revenues:
	Minimum rents		$	223,959			$	185,100
	Tenant recoveries		98,024				87,346
	Overage rents		6,152				4,855
	Other		12,529				11,735
	Total revenues		340,664				289,036
	Expenses:
	Real estate taxes		26,879				27,636
	Property maintenance costs		12,655				11,592
	Marketing		3,980				3,567
	Other property operating costs		47,569				41,897
	Provision for doubtful accounts		3,337				815
	Property management and other costs (2)		15,254				14,167
	General and administrative		1,115				483
	Depreciation and amortization		93,922				75,626
	Total expenses		204,711				175,783
	Operating income		135,953				113,253
	Interest income		1,954				1,547
	Interest expense		(92,297		)		(72,685		)
	Provision for income taxes		(205		)		(188		)
	Equity in loss of unconsolidated joint ventures		(180		)		—
	Income from continuing operations		45,225				41,927
	Net income from disposed investment		—				324
	Allocation to noncontrolling interests		(8		)		(4		)
	Net income attributable to the ventures		$	45,217			$	42,247
	Equity In Income of Unconsolidated Real Estate Affiliates:
	Net income attributable to the ventures		$	45,217			$	42,247
	Joint venture partners’ share of income		(22,243		)		(24,217		)
	Amortization of capital or basis differences		299				(10,873		)
Equity in income of Unconsolidated Real Estate Affiliates		$	23,273			$	7,157
(1) The Condensed Combined Statements of Income - Unconsolidated Real Estate Affiliates include income from Ala Moana Center subsequent to the formation of the joint venture on February 27, 2015.
(2) Includes management fees charged to the unconsolidated joint ventures by GGMI and GGSI.

MORTGAGES_NOTES_AND_LOANS_PAYA1

MORTGAGES, NOTES AND LOANS PAYABLE (Tables)	3 Months Ended
	Mar. 31, 2015
Debt Disclosure [Abstract]
Fair Value, Option, Quantitative Disclosures [Table Text Block]	Management’s estimates of fair value are presented below for our debt as of March 31, 2015 and December 31, 2014.
		March 31, 2015					December 31, 2014
		Carrying Amount (1) (2)		Estimated Fair			Carrying Amount (1)			Estimated Fair
				Value (2)						Value
	Fixed-rate debt	$	11,667,588	$	12,387,240		$	13,606,936		$	14,211,247
	Variable-rate debt	2,095,446		2,104,654			2,391,353			2,399,547
		$	13,763,034	$	14,491,894		$	15,998,289		$	16,610,794
	(1) Includes market rate adjustments of $34.5 million and $19.9 million as of March 31, 2015 and December 31, 2014, respectively.
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:
		March 31, 2015 (1)		Weighted-Average		December 31, 2014 (3)			Weighted-Average
				Interest Rate (2)					Interest Rate (2)
	Fixed-rate debt:
	Collateralized mortgages, notes and loans payable (4)	$	11,662,579	4.49	%	$	13,600,337		4.52	%
	Corporate and other unsecured loans	5,009		4.41	%	6,599			4.41	%
	Total fixed-rate debt	11,667,588		4.49	%	13,606,936			4.52	%
	Variable-rate debt:
	Collateralized mortgages, notes and loans payable (4)	1,995,446		1.99	%	2,291,353			2	%
	Revolving credit facility	100,000		1.75	%	100,000			1.73	%
	Total variable-rate debt	2,095,446		1.98	%	2,391,353			1.99	%
	Total Mortgages, notes and loans payable	$	13,763,034	4.11	%	$	15,998,289		4.14	%
	Junior Subordinated Notes	$	206,200	1.7	%	$	206,200		1.68	%
	Variable-rate mortgages held for disposition	$	67,000	2.67	%	$	—		—	%
	(1) Includes $34.5 million of market rate adjustments, net.
	(2) Represents the weighted-average interest rates on our contractual principal balances.
	(3) Includes $19.9 million of market rate adjustments, net.
	(4) $100.4 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:
		March 31, 2015 (2)		Weighted-Average		December 31, 2014 (3)			Weighted-Average
				Interest Rate					Interest Rate
	Unsecured debt:
	HHC Note (1)	$	5,079	4.41	%	$	6,735		4.41	%
	Revolving credit facility	100,000		1.75	%	100,000			1.73	%
	Total unsecured debt	$	105,079	1.88	%	$	106,735		1.9	%
	(1) Matures in December 2015.
	(2) Excludes a market rate discount of $0.1 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 $0.1 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)	3 Months Ended
	Mar. 31, 2015
WARRANTS
Schedule of Warrants initially received	Below is a summary of Warrants that were originally issued and are still outstanding.
	Initial Warrant Holder	Number of Warrants	Initial Exercise Price
	Brookfield - A	57,500,000	$	10.75
	Brookfield - B	16,430,000	10.5
		73,930,000
Schedule of change in shares issuable upon exercise of outstanding Warrants	During 2014 and 2015, the number of shares issuable upon exercise of the outstanding Warrants changed as follows:
			Exercise Price
	Record Date	Issuable Shares	Brookfield - A		Brookfield - B
	April 15, 2014	85,668,428	9.28		9.06
	July 15, 2014	86,215,500	9.22		9.01
	October 15, 2014	86,806,928	9.16		8.94
	December 15, 2014	87,353,999	9.1		8.89

EQUITY_AND_REDEEMABLE_NONCONTR1

EQUITY AND REDEEMABLE NONCONTROLLING INTERESTS (Tables)	3 Months Ended
	Mar. 31, 2015
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 March 31,
			2015				2014
	Distributions to preferred GGPOP units		$	(2,232	)		$	(2,232	)
	Net income allocation to noncontrolling interests in GGPOP from continuing operations (common units)		(3,440		)		(664		)
	Net income allocation to noncontrolling interests in GGPOP from continuing operations (LTIP units)		(906		)		—
	Net income allocated to noncontrolling interest in consolidated real estate affiliates		(441		)		(956		)
	Allocation to noncontrolling interests		(7,019		)		(3,852		)
	Other comprehensive loss (income) allocated to noncontrolling interests		229				(16		)
	Comprehensive income allocated to noncontrolling interests		$	(6,790	)		$	(3,868	)
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 March 31, 2015			Converted Basis to Common Units Outstanding as of March 31, 2015	Conversion Price		Redemption Value
	Series B (1)		3			1,268,957			3,958,242	$	16.6667	116,966
	Series D		1.50821			532,750			803,498	33.15188		26,637
	Series E		1.29836			502,658			652,631	38.51		25,133
												$	168,736
	(1) The conversion price of Series B preferred units is lower than the GGP March 31, 2015 closing common stock price of $29.55; therefore, the March 31, 2015 common stock price of $29.55, 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 three months ended March 31, 2015, and 2014.
	Balance at January 1, 2014	$	228,902
	Net income	664
	Distributions	(726		)
	Other comprehensive income	16
	Fair value adjustment for noncontrolling interests in Operating Partnership	17,079
	Balance at March 31, 2014	$	245,935
	Balance at January 1, 2015	$	299,296
	Net income	3,440
	Distributions	(1,109		)
	Redemption of GGPOP units	(713		)
	Other comprehensive loss	(229		)
	Fair value adjustment for noncontrolling interests in Operating Partnership	9,730
	Balance at March 31, 2015	$	310,415
Summary of dividends declared	Our Board of Directors declared common stock dividends during 2015 and 2014 as follows:
	Declaration Date		Record Date		Payment Date		Dividend Per Share
	2015
	19-Feb		15-Apr		30-Apr-15		$	0.17
	2014
	14-Nov		15-Dec		January 2, 2015		$	0.17
	12-Aug		15-Oct		October 31, 2014		0.16
	15-May		15-Jul		July 31, 2014		0.15
	26-Feb		15-Apr		April 30, 2014		0.15
Schedule of Preferred Dividends Payable	Our Board of Directors declared preferred stock dividends during 2015 and 2014 as follows:
	Declaration Date		Record Date		Payment Date		Dividend Per Share
	2015
	19-Feb		16-Mar		1-Apr-15		$	0.3984
	2014
	14-Nov		15-Dec		January 2, 2015		$	0.3984
	12-Aug		15-Sep		October 1, 2014		0.3984
	15-May		16-Jun		July 1, 2014		0.3984
	26-Feb		17-Mar		April 1, 2014		0.3984

EARNINGS_PER_SHARE_Tables

EARNINGS PER SHARE (Tables)	3 Months Ended
	Mar. 31, 2015
Earnings Per Share [Abstract]
Summary of information related to EPS calculations	Information related to our EPS calculations is summarized as follows:
		Three Months Ended March 31,
		2015			2014
	Numerators - Basic and Diluted:
	Income from continuing operations	$	641,750		$	58,916
	Preferred Stock dividends	(3,984		)	(3,984		)
	Allocation to noncontrolling interests	(7,019		)	(3,488		)
	Income from continuing operations - attributable to common stockholders	630,747			51,444
	Discontinued operations	—			72,972
	Allocation to noncontrolling interests	—			(364		)
	Discontinued operations - net of noncontrolling interests	—			72,608
	Net income	641,750			131,888
	Preferred Stock dividends	(3,984		)	(3,984		)
	Allocation to noncontrolling interests	(7,019		)	(3,852		)
	Net income attributable to common stockholders	$	630,747		$	124,052
	Denominators:
	Weighted-average number of common shares outstanding - basic	885,462			896,257
	Effect of dilutive securities	68,970			51,714
	Weighted-average number of common shares outstanding - diluted	954,432			947,971
	Anti-dilutive Securities:
	Effect of Preferred Units	5,472			5,506
	Effect of Common Units	4,799			4,834
	Effect of LTIP Common Units	1,256			—
		11,527			10,340

STOCKBASED_COMPENSATION_PLANS_

STOCK-BASED COMPENSATION PLANS (Tables)	3 Months Ended
	Mar. 31, 2015
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 March 31, 2015, and 2014 is summarized in the following table in thousands:
		Three Months Ended March 31,
		2015			2014
	Stock options - Property management and other costs	$	1,889		$	2,205
	Stock options - General and administrative	2,794			4,697
	Restricted stock - Property management and other costs	773			421
	Restricted stock - General and administrative	148			276
	LTIP Units - Property management and other costs	383			—
	LTIP Units - General and administrative	2,466			—
	Total	$	8,453		$	7,599
Summary of stock option activity	The following tables summarize stock option and LTIP Unit activity for the Equity Plan for GGP for the three months ended March 31, 2015, and 2014:
		2015					2014
		Shares		Weighted Average			Shares		Weighted Average
				Exercise					Exercise
				Price					Price
	Stock options Outstanding at January 1,	19,744,224		$	17.36		21,565,281		$	17.28
	Granted	267,253		29.15			50,000		22.41
	Exercised	(936,082	)	16.75			(26,652	)	15.79
	Forfeited	(124,784	)	20.22			(107,797	)	18.78
	Expired	(2,439	)	19.24			(8,102	)	14.39
	Stock options Outstanding at March 31,	18,948,172		$	17.53		21,472,730		$	17.29

ACCOUNTS_AND_NOTES_RECEIVABLE_1

ACCOUNTS AND NOTES RECEIVABLE, NET (Tables)	3 Months Ended
	Mar. 31, 2015
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.
		March 31, 2015			December 31, 2014
	Trade receivables	$	93,268		$	124,698
	Notes receivable	326,106			320,881
	Straight-line rent receivable	217,470			230,172
	Other accounts receivable	3,928			3,638
	Total accounts and notes receivable	640,772			679,389
	Provision for doubtful accounts	(16,619		)	(15,621		)
	Total accounts and notes receivable, net	$	624,153		$	663,768

PREPAID_EXPENSES_AND_OTHER_ASS1

PREPAID EXPENSES AND OTHER ASSETS (Tables)	3 Months Ended
	Mar. 31, 2015
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.
		March 31, 2015							December 31, 2014
		Gross Asset		Accumulated			Balance		Gross Asset		Accumulated			Balance
				Amortization							Amortization
	Intangible assets:
	Above-market tenant leases, net	$	708,351	$	(405,951	)	$	302,400	$	870,103	$	(498,016	)	$	372,087
	Below-market ground leases, net	119,545		(9,191		)	110,354		119,866		(8,906		)	110,960
	Real estate tax stabilization agreement, net	111,506		(27,724		)	83,782		111,506		(26,146		)	85,360
	Total intangible assets	$	939,402	$	(442,866	)	$	496,536	$	1,101,475	$	(533,068	)	$	568,407
	Remaining prepaid expenses and other assets:
	Security and escrow deposits						77,674							93,676
	Prepaid expenses						45,085							76,306
	Other non-tenant receivables (1)						189,899							28,712
	Deferred tax, net of valuation allowances						3,233							4,220
	Other						34,538							42,456
	Total remaining prepaid expenses and other assets						350,429							245,370
	Total prepaid expenses and other assets						$	846,965						$	813,777

ACCOUNTS_PAYABLE_AND_ACCRUED_E1

ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Tables)	3 Months Ended
	Mar. 31, 2015
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.
		March 31, 2015							December 31, 2014
		Gross Liability		Accumulated			Balance		Gross Liability		Accumulated			Balance
				Accretion							Accretion
	Intangible liabilities:
	Below-market tenant leases, net	418,874		(211,926		)	$	206,948	502,919		(259,390		)	$	243,529
	Above-market headquarters office leases, net	15,268		(7,302		)	$	7,966	15,268		(6,867		)	$	8,401
	Above-market ground leases, net	9,127		(1,614		)	$	7,513	9,127		(1,522		)	$	7,605
	Total intangible liabilities	$	443,269	$	(220,842	)	$	222,427	$	527,314	$	(267,779	)	$	259,535
	Remaining Accounts payable and accrued expenses:
	Accrued interest						46,443							54,332
	Accounts payable and accrued expenses						66,993							82,292
	Accrued real estate taxes						76,124							85,910
	Deferred gains/income						95,970							114,968
	Accrued payroll and other employee liabilities						29,585							55,059
	Construction payable						102,619							198,471
	Tenant and other deposits						12,550							21,423
	Insurance reserve liability						16,352							16,509
	Capital lease obligations						11,898							12,066
	Conditional asset retirement obligation liability						9,379							10,135
	Uncertain tax position liability						6,663							6,663
	Other						18,310							17,534
	Total remaining Accounts payable and accrued expenses						492,886							675,362
	Total Accounts payable and accrued expenses						$	715,313						$	934,897

COMMITMENTS_AND_CONTINGENCIES_

COMMITMENTS AND CONTINGENCIES (Tables)	3 Months Ended
	Mar. 31, 2015
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 March 31,
		2015		2014
		(Dollars in thousands)
	Contractual rent expense, including participation rent	$	2,300	$	3,258
	Contractual rent expense, including participation rent and excluding amortization of above and below-market ground leases and straight-line rent	1,697		2,102

ORGANIZATION_Details

ORGANIZATION (Details)	3 Months Ended
	Mar. 31, 2015
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	129
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)	3 Months Ended
	Mar. 31, 2015
Minimum | Properties
Summary of significant accounting policies
Estimated useful lives	20 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
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Acquisitions of operating properties
Gross Asset	$939,402		$1,101,475
Accumulated Amortization	-442,866		-533,068
Balance	496,536		568,407
Amortization/accretion effect on continuing operations	-48,880	-52,089
Future amortization/accretion of intangibles
2014 Remaining	82,945
2015	92,563
2016	68,829
2017	44,178
2018	25,792
Tenant leases, In-place value
Acquisitions of operating properties
Gross Asset	477,416		608,840
Accumulated Amortization	-276,637		-362,531
Balance	$200,779		$246,309

SUMMARY_OF_SIGNIFICANT_ACCOUNT5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 3) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Management Fees and Other Corporate Revenues
Percentage of revenue earned from joint venture reported as management fees	100.00%
Management fees from affiliates	$19,086,000	$16,687,000
Management fee expense	-7,276,000	-6,690,000
Net management fees from affiliates	11,810,000	9,997,000
Provision for impairment from Equity in income of Unconsolidated Real Estate Affiliates	0	0
Continuing operations
Management Fees and Other Corporate Revenues
Impairment charges	0	0
Discontinuing operations
Management Fees and Other Corporate Revenues
Gain on extinguishment of debt		$66,680,000

ACQUISITIONS_AND_JOINT_VENTURE1

ACQUISITIONS AND JOINT VENTURE ACTIVITY (Details) (USD $)	0 Months Ended	3 Months Ended		0 Months Ended	3 Months Ended	0 Months Ended
	Mar. 31, 2015	Mar. 31, 2015	Mar. 31, 2014	Feb. 27, 2015	Jun. 30, 2015	Apr. 10, 2015
ACQUISITIONS AND JOINT VENTURE ACTIVITY
Ownership interest acquired (as a percent)				75.00%
Payments to acquire interest in joint venture, net	$164,500,000
Gains from changes in control of investment properties		591,245,000	0
Sears JV [Domain]
ACQUISITIONS AND JOINT VENTURE ACTIVITY
Equity Method Investment, Ownership Percentage in Investment Properties by Joint Venture	50.00%	50.00%
Investment in joint venture	-165,000,000
Ala Moana [Member]
ACQUISITIONS AND JOINT VENTURE ACTIVITY
Estimated future gain on change in control of investment property				57,400,000
Business Acquisition, Total Partnership Net Proceeds				907,000,000
Payments to Acquire Businesses, Gross				670,000,000
Business Acquisition, Remaining Net Proceeds				237,000,000
Equity Method Investment, Ownership Percentage in Investment Properties by Joint Venture				25.00%
Payments to acquire interest in joint venture, net				900,200,000
Debt assumed joint venture				462,500,000
Consideration for acquisition				1,362,700,000
Business Combination, Consideration Transferred, Including Equity Interest in Acquiree Held Prior to Combination				-714,100,000
Gains from changes in control of investment properties		648,600,000		584,400,000
Deferred Gain Recognized to date				6,800,000
Subsequent Event [Member] | Sears JV [Domain]
ACQUISITIONS AND JOINT VENTURE ACTIVITY
Investment in joint venture					-33,300,000
Subsequent Event [Member] | Ala Moana [Member]
ACQUISITIONS AND JOINT VENTURE ACTIVITY
Business Acquisition, Total Partnership Net Proceeds						454,000,000
Business Acquisition, Remaining Net Proceeds						119,000,000
Consideration for acquisition						$335,000,000
Disposal Group Not Discontinued Operation In Ownership Interest, Potential Sale						12.50%

DISCONTINUED_OPERATIONS_AND_GA2

DISCONTINUED OPERATIONS AND GAINS (LOSSES) ON DISPOSITIONS OF OPERATING PROPERTIES (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Discontinued operations
Total revenues	$594,143	$622,885
Total expenses	391,330	399,979
Operating income	202,813	222,906
Discontinued operations	0	72,972
Discontinuing operations
Discontinued operations
Retail and other revenue		10,051
Retail and other operating expenses		6,976
Operating income		3,075
Interest expense, net		-1,476
Gains (losses) on dispositions		4,693
Net income (loss) from operations		6,292
Gain on extinguishment of debt		66,680
Discontinued operations		$72,972

FAIR_VALUE_Details

FAIR VALUE (Details) (USD $)	3 Months Ended
	Mar. 31, 2015		Dec. 31, 2014
Carrying Amount
Fixed-rate debt	$11,667,588,000	[1]	$13,606,936,000	[1]
Variable-rate debt	2,095,446,000	[1]	2,391,353,000	[1]
Total mortgages, notes and loans payable	13,763,034,000	[1]	15,998,289,000	[1]
Estimated Fair Value
Long Term Debt, Percentage Bearing Fixed Interest, Fair Value	12,387,240,000		14,211,247,000
Long Term Debt, Percentage Bearing Variable Interest, Fair Value	2,104,654,000		2,399,547,000
Total long-term debt, fair value	14,491,894,000		16,610,794,000
Market rate adjustments	34,500,000		19,900,000
Liabilities Held For Disposition	$67,000,000
Variable rate basis	LIBOR
[1]	Includes market rate adjustments of $34.5 million and $19.9 million as of March 31, 2015 and December 31, 2014, respectively.

UNCONSOLIDATED_REAL_ESTATE_AFF2

UNCONSOLIDATED REAL ESTATE AFFILIATES (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Assets:
Land	$3,639,735	$4,244,607
Buildings and equipment	16,208,711	18,028,844
Less accumulated depreciation	-2,140,032	-2,280,845
Construction in progress	331,604	703,859
Net property and equipment	18,040,018	20,696,465
Net investment in real estate	21,514,638	23,301,227
Cash and cash equivalents	173,273	372,471	403,129	577,271
Accounts and notes receivable, net	624,153	663,768
Deferred expenses, net	173,909	184,491
Prepaid expenses and other assets	846,965	813,777
Total assets	23,427,668	25,335,734
Liabilities and Owners’ Equity:
Mortgages, notes and loans payable	105,079	106,735
Total liabilities, redeemable noncontrolling interests and equity	23,427,668	25,335,734
Investment In and Loans To/From Unconsolidated Real Estate Affiliates, Net:
Owners’ equity	-8,163,042	-7,685,520	-7,616,424	-8,185,263
Investment in and loans to/from Unconsolidated Real Estate Affiliates, net	3,474,620	2,604,762
Reconciliation - Investment In and Loans To/From Unconsolidated Real Estate Affiliates:
Investment in and loans to/from Unconsolidated Real Estate Affiliates, net	3,474,620	2,604,762
Unconsolidated
Assets:
Land	1,736,027	1,152,485
Buildings and equipment	12,009,777	10,009,490
Less accumulated depreciation	-2,863,321	-2,591,347
Construction in progress	679,808	125,931
Net property and equipment	11,562,291	8,696,559
Investment in Unconsolidated Joint Ventures	16,374	16,462
Net investment in real estate	11,578,665	8,713,021
Cash and cash equivalents	300,923	308,621
Accounts and notes receivable, net	216,038	203,511
Deferred expenses, net	340,092	281,835
Prepaid expenses and other assets	754,461	594,257
Total assets	13,190,179	10,101,245
Liabilities and Owners’ Equity:
Mortgages, notes and loans payable	9,594,565	7,945,828
Accounts payable, accrued expenses and other liabilities	540,513	418,995
Cumulative effect of foreign currency translation (“CFCT”)	-50,108	-35,238
Owners’ equity, excluding CFCT	3,105,209	1,771,660
Total liabilities, redeemable noncontrolling interests and equity	13,190,179	10,101,245
Investment In and Loans To/From Unconsolidated Real Estate Affiliates, Net:
Owners’ equity	3,055,101	1,736,422
Less: joint venture partners’ equity	-1,284,174	-861,515
Plus: excess investment/basis differences	1,667,585	1,694,257
Investment in and loans to/from Unconsolidated Real Estate Affiliates, net	3,438,512	2,569,164
Reconciliation - Investment In and Loans To/From Unconsolidated Real Estate Affiliates:
Asset - Investment in and loans to/from Unconsolidated Real Estate Affiliates	3,474,620	2,604,762
Liability - Investment in Unconsolidated Real Estate Affiliates	-36,108	-35,598
Investment in and loans to/from Unconsolidated Real Estate Affiliates, net	$3,438,512	$2,569,164
United States | Unconsolidated Real Estate Affiliates
Condensed Combined Financial Information of Unconsolidated Real Estate Affiliates
Number of Joint Ventures in which Entity Holds Interest	25

UNCONSOLIDATED_REAL_ESTATE_AFF3

UNCONSOLIDATED REAL ESTATE AFFILIATES (Details 2) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Revenues:
Minimum rents	$374,112	$389,252
Tenant recoveries	177,482	181,466
Overage rents	8,815	9,821
Other	14,648	25,659
Total revenues	594,143	622,885
Expenses:
Real estate taxes	55,987	56,916
Property maintenance costs	19,881	21,424
Marketing	4,708	5,804
Other property operating costs	76,296	85,666
Provision for doubtful accounts	3,271	2,142
Property management and other costs	42,793	44,950
General and administrative	12,446	11,599
Depreciation and amortization	175,948	171,478
Total expenses	391,330	399,979
Operating income	202,813	222,906
Interest expense	-172,651	-179,046
Provision for income taxes	11,159	-3,692
Income (Loss) from Unconsolidated Joint Ventures		0
Income from continuing operations	641,750	58,916
Allocation to noncontrolling interests	-7,019	-3,852
Net income attributable to common stockholders	630,747	124,052
Equity In Income of Unconsolidated Real Estate Affiliates:
Net income attributable to the ventures	630,747	124,052
Equity in income of Unconsolidated Real Estate Affiliates	23,273	7,157
Unconsolidated Real Estate Affiliates
Revenues:
Minimum rents	223,959	185,100
Tenant recoveries	98,024	87,346
Overage rents	6,152	4,855
Other	12,529	11,735
Total revenues	340,664	289,036
Expenses:
Real estate taxes	26,879	27,636
Property maintenance costs	12,655	11,592
Marketing	3,980	3,567
Other property operating costs	47,569	41,897
Provision for doubtful accounts	3,337	815
Property management and other costs	15,254	14,167
General and administrative	1,115	483
Depreciation and amortization	93,922	75,626
Total expenses	204,711	175,783
Operating income	135,953	113,253
Interest and dividend income	1,954	1,547
Interest expense	-92,297	-72,685
Provision for income taxes	-205	-188
Income (Loss) from Unconsolidated Joint Ventures	-180
Income from continuing operations	45,225	41,927
Net income from disposed investment	0	324
Allocation to noncontrolling interests	-8	-4
Net income attributable to common stockholders	45,217	42,247
Equity In Income of Unconsolidated Real Estate Affiliates:
Net income attributable to the ventures	45,217	42,247
Joint venture partners’ share of income	-22,243	-24,217
Amortization of capital or basis differences	299	-10,873
Equity in income of Unconsolidated Real Estate Affiliates	$23,273	$7,157

UNCONSOLIDATED_REAL_ESTATE_AFF4

UNCONSOLIDATED REAL ESTATE AFFILIATES (Details 3) (USD $)	3 Months Ended
	Mar. 31, 2015	Dec. 31, 2014
Condensed Combined Financial Information of Unconsolidated Real Estate Affiliates
Debt, Weighted Average Interest Rate	1.88%	1.90%
Equity Method Investment, Realized Gain (Loss) on Disposal	$12,000,000
Loans Payable	-527,200,000
Unconsolidated Real Estate Affiliates | Strip Centers [Member]
Condensed Combined Financial Information of Unconsolidated Real Estate Affiliates
Number of real estate properties in portfolio	2
Unconsolidated
Condensed Combined Financial Information of Unconsolidated Real Estate Affiliates
Entity's proportionate share in indebtedness secured by Unconsolidated Properties including retained debt	5,200,000,000	3,900,000,000
Aggregate carrying value of retained debt, reflected as a reduction in entity's investment in Unconsolidated Real Estate Affiliates	$88,900,000	89,300,000
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	129
United States | Unconsolidated Real Estate Affiliates
Condensed Combined Financial Information of Unconsolidated Real Estate Affiliates
Number of Joint Ventures in which Entity Holds Interest	25
United States | Unconsolidated Real Estate Affiliates | Regional Malls
Condensed Combined Financial Information of Unconsolidated Real Estate Affiliates
Number of real estate properties in portfolio	40
Brazil | Unconsolidated Real Estate Affiliates
Condensed Combined Financial Information of Unconsolidated Real Estate Affiliates
Number of Joint Ventures in which Entity Holds Interest	1
Loans Payable before Refinancing [Member]
Condensed Combined Financial Information of Unconsolidated Real Estate Affiliates
Debt, Weighted Average Interest Rate	5.60%

MORTGAGES_NOTES_AND_LOANS_PAYA2

MORTGAGES, NOTES AND LOANS PAYABLE (Details) (USD $)	3 Months Ended		12 Months Ended
	Mar. 31, 2015		Dec. 31, 2006	Dec. 31, 2014
	item
Mortgages, notes and loans payable
Fixed-rate debt	$11,667,588,000	[1]		$13,606,936,000	[1]
Long Term Debt, Percentage Bearing Fixed Interest, Fair Value	12,387,240,000			14,211,247,000
Long-term debt	105,079,000			106,735,000
Weighted-average fixed interest rate (as a percent)	4.49%			4.52%
Weighted-average variable interest rate (as a percent)	1.98%			1.99%
Mortgages, notes and loans payable	13,763,034,000	[1]		15,998,289,000	[1]
Long-term Debt, Weighted Average Interest Rate	4.11%			4.14%
Variable-rate debt	2,095,446,000	[1]		2,391,353,000	[1]
Long Term Debt, Percentage Bearing Variable Interest, Fair Value	2,104,654,000			2,399,547,000
Market rate adjustments	34,500,000			19,900,000
Number of properties with mortgage notes refinanced	1
Term to maturity	1 year 7 months 0 days
Debt, Weighted Average Interest Rate	1.88%			1.90%
Loans Payable	-527,200,000
Variable rate basis	LIBOR
Outstanding letter of credit and surety bonds	49,900,000			49,100,000
Debt Instrument, Fair Value Disclosure	14,491,894,000			16,610,794,000
GGP Capital Trust I
Mortgages, notes and loans payable
Variable rate basis	LIBOR
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%
Revolving credit facility
Mortgages, notes and loans payable
Long-term debt	100,000,000
Weighted-average variable interest rate (as a percent)	1.75%			1.73%
Variable-rate debt	100,000,000			100,000,000
Maximum borrowing capacity	1,100,000,000
Debt Instrument, Convertible, Beneficial Conversion Feature	1,500,000,000
Revolving credit facility | Minimum
Mortgages, notes and loans payable
Basis spread on variable rate (as a percent)	132.50%
Revolving credit facility | Maximum
Mortgages, notes and loans payable
Basis spread on variable rate (as a percent)	195.00%
Line of Credit [Member] | Minimum
Mortgages, notes and loans payable
Basis spread on variable rate (as a percent)	1.33%
Line of Credit [Member] | Maximum
Mortgages, notes and loans payable
Basis spread on variable rate (as a percent)	1.95%
Corporate Note Securities [Member]
Mortgages, notes and loans payable
Fixed-rate debt	5,079,000			6,735,000
Collateralized mortgages, notes and loans payable
Mortgages, notes and loans payable
Fixed-rate debt	11,662,579,000			13,600,337,000
Weighted-average fixed interest rate (as a percent)	4.49%			4.52%
Weighted-average variable interest rate (as a percent)	1.99%			2.00%
Mortgages, notes and loans payable	13,700,000,000
Variable-rate debt	1,995,446,000			2,291,353,000
Land, buildings and equipment and developments in progress (before accumulated depreciation) pledged as collateral	18,100,000,000
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	220,000,000
Proceeds from mortgage loans refinanced	7,100,000
Junior Subordinated Notes due 2041
Mortgages, notes and loans payable
Long-term debt	206,200,000			206,200,000
Weighted-average variable interest rate (as a percent)	1.70%			1.68%
Prior loans
Mortgages, notes and loans payable
Term to maturity	2 years 8 months 0 days
Debt, Weighted Average Interest Rate	5.60%
New Loan
Mortgages, notes and loans payable
Term to maturity	10 years 0 months 0 days
Debt, Weighted Average Interest Rate	3.90%
522310 Mortgage and Nonmortgage Loan Brokers [Member]
Mortgages, notes and loans payable
Debt, Weighted Average Interest Rate	5.20%
Corporate and other unsecured loans
Mortgages, notes and loans payable
Fixed-rate debt	5,009,000			6,599,000
Weighted-average fixed interest rate (as a percent)	4.41%			4.41%
Unsecured fixed-rate debt
Mortgages, notes and loans payable
Market rate adjustment excluded from corporate and other unsecured loans	100,000			100,000
Cross-collateralized | Collateralized mortgages, notes and loans payable
Mortgages, notes and loans payable
Fixed-rate debt	100,400,000
Variable-rate debt	$1,400,000,000
[1]	Includes market rate adjustments of $34.5 million and $19.9 million as of March 31, 2015 and December 31, 2014, respectively.

INCOME_TAXES_Details

INCOME TAXES (Details)	3 Months Ended
	Mar. 31, 2015
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) (USD $)	3 Months Ended
	Mar. 31, 2015	Jul. 15, 2014		Apr. 15, 2014		Nov. 09, 2010
		warrant		warrant		warrant
WARRANT LIABILITY
Issuable Shares		86,215,500	[1]	85,668,428	[1]	73,930,000
Term of Warrants, in number of years from the effective date	7 years
Brookfield - A
WARRANT LIABILITY
Number of Warrants						57,500,000
Issuable Shares	61,000,000
Exercise price (in dollars per share)						10.75
Exercise price of remaining warrants (in dollars per share)	9.05
Pershing Square
WARRANT LIABILITY
Number of Warrants						16,430,000	[2]
Exercise price (in dollars per share)						10.5
Brookfield and Blackstone
WARRANT LIABILITY
Exercise price (in dollars per share)		9.22		9.28
Fairholme, Pershing Square and Blackstone
WARRANT LIABILITY
Exercise price (in dollars per share)		9.01		9.06
[1]	{F|ahBzfndlYmZpbGluZ3MtaHJkcmoLEgZYTUxEb2MiXlhCUkxEb2NHZW5JbmZvOjM5MDI3ZmI0Y2JjMDQ4MWU5NGM4YmExM2QyMmM3NDFmfFRleHRTZWxlY3Rpb246RDg3QjNEQTRFQzgwOUQ3Q0ZGOTU3QkE1NTdFNTcwMzUM}
[2]	{F|ahBzfndlYmZpbGluZ3MtaHJkcmoLEgZYTUxEb2MiXlhCUkxEb2NHZW5JbmZvOjM5MDI3ZmI0Y2JjMDQ4MWU5NGM4YmExM2QyMmM3NDFmfFRleHRTZWxlY3Rpb246Njc5MDE1QTRFRDU5NzQwOTI3QTY3QkE1NTdFNTg3Q0YM}

WARRANTS_Details_2

WARRANTS (Details 2) (USD $)	Jul. 15, 2014		Apr. 15, 2014		Nov. 09, 2010	Mar. 31, 2015
In Millions, except Share data, unless otherwise specified	warrant		warrant		warrant	warrant
WARRANT LIABILITY
Issuable Shares	86,215,500	[1]	85,668,428	[1]	73,930,000
The Brookfield Investor
WARRANT LIABILITY
Number of Warrants					57,500,000
Warrant option exercise price						$618
Common stock shares issued in warrant settlement transaction						68,000,000
Issuable Shares						61,000,000
[1]	{F|ahBzfndlYmZpbGluZ3MtaHJkcmoLEgZYTUxEb2MiXlhCUkxEb2NHZW5JbmZvOjM5MDI3ZmI0Y2JjMDQ4MWU5NGM4YmExM2QyMmM3NDFmfFRleHRTZWxlY3Rpb246RDg3QjNEQTRFQzgwOUQ3Q0ZGOTU3QkE1NTdFNTcwMzUM}

EQUITY_AND_REDEEMABLE_NONCONTR2

EQUITY AND REDEEMABLE NONCONTROLLING INTERESTS (Details) (USD $)	0 Months Ended						3 Months Ended		0 Months Ended
	Feb. 26, 2014	Oct. 28, 2013	Jul. 29, 2013	10-May-13	Mar. 04, 2013	Feb. 04, 2013	Mar. 31, 2015	Mar. 31, 2014	Feb. 13, 2013
Equity and redeemable noncontrolling interest
Estimated payments for repurchase of redeemable noncontrolling interest							$168,700,000
Conversion ratio for convertible common units to common stock							1
Allocation to Noncontrolling Interests
Distributions to preferred Operating Partnership units							-2,232,000	-2,232,000
Net (income) loss allocation to noncontrolling interests in operating partnership from continuing operations (common units)							-3,440,000	-664,000
Net Income (Loss) Distributed to General Operating Partnership LTIP Units							906,000	0
Net (income) loss allocated to noncontrolling interest in consolidated real estate affiliates							-441,000	-956,000
Allocation to noncontrolling interests							-7,019,000	-3,852,000
Other comprehensive loss allocation to noncontrolling interests							229,000	-16,000
Comprehensive (income) loss allocated to noncontrolling interests							-6,790,000	-3,868,000
Unit Conversions Disclosures
Redemption Value							168,736,000
GGP stock price per share							$29.55
Activity of redeemable noncontrolling interests
Balance at the beginning of the period							299,296,000	228,902,000
Net income (loss)							3,440,000	664,000
Distributions							-1,109,000	-726,000
Other comprehensive income (loss)							-229,000	16,000
Fair value adjustment for noncontrolling interests in Operating Partnership							9,730,000	17,079,000
Balance at the end of the period							310,415,000	245,935,000
Common Stock Dividend
Dividends declared per share	$0.17	$0.17	$0.16	$0.15		$0.15	$0.17	$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							4,149	6,254
Preferred Stock dividends declared (in dollars per share)	$0.40	$0.40	$0.40	$0.40	$0.40
Series B
Unit Conversions Disclosures
Number of Common Units for each Preferred unit							3
Number of Contractual Convertible Preferred Units Outstanding							1,268,957,000
Converted Basis to Common Units Outstanding							3,958,242,000
Conversion Price (in dollars per share)							$16.67
Redemption Value							116,966,000
GGP stock price per share							$29.55
Common Stock Dividend
Conversion ratio							1.0397624
Series D
Unit Conversions Disclosures
Number of Common Units for each Preferred unit							1.50821
Number of Contractual Convertible Preferred Units Outstanding							532,750,000
Converted Basis to Common Units Outstanding							803,498,000
Conversion Price (in dollars per share)							$33.15
Redemption Value							26,637,000
Series E
Unit Conversions Disclosures
Number of Common Units for each Preferred unit							1.29836
Number of Contractual Convertible Preferred Units Outstanding							502,658,000
Converted Basis to Common Units Outstanding							652,631,000
Conversion Price (in dollars per share)							$38.51
Redemption Value							25,133,000
6.375% series A cumulative redeemable perpetual preferred stock
Common Stock Dividend
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									$242,000,000
Conversion of preferred share per common share issued upon conversion							2.4679

EARNINGS_PER_SHARE_Details

EARNINGS PER SHARE (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Numerators - Basic and Diluted:
Income from continuing operations	$641,750	$58,916
Preferred Stock dividends	-3,984	-3,984
Allocation to noncontrolling interests	-7,019	-3,488
Income from continuing operations - attributable to common stockholders	630,747	51,444
Discontinued operations	0	72,972
Allocation to noncontrolling interests	0	-364
Discontinued operations - net of noncontrolling interests	0	72,608
Net income	641,750	131,888
Preferred Stock dividends	-3,984	-3,984
Allocation to noncontrolling interests	-7,019	-3,852
Net income attributable to common stockholders	$630,747	$124,052
Denominators:
Weighted-average number of common shares outstanding - basic	885,462	896,257
Effect of dilutive securities	68,970	51,714
Weighted-average number of common shares outstanding - diluted	954,432	947,971
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	11,527	10,340
Preferred Units
Denominators:
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	5,472	5,506
Common Units
Denominators:
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	4,799	4,834

EARNINGS_PER_SHARE_Details_2

EARNINGS PER SHARE (Details 2) (USD $)	3 Months Ended		0 Months Ended	12 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Mar. 26, 2013	Dec. 31, 2013	Dec. 31, 2014
Effect of anti-dilutive Securities
Common stock in treasury, shares	55,969,390			28,345,108	55,969,390
Treasury Stock, Value, Acquired, Cost Method		($555,801)
Treasury stock purchases, shares	0	27,624,282
GGPLP
Effect of anti-dilutive Securities
Treasury Stock, Value, Acquired, Cost Method	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

STOCKBASED_COMPENSATION_PLANS_1

STOCK-BASED COMPENSATION PLANS (Details)	3 Months Ended
	Mar. 31, 2015
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
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Stock-Based Compensation Plans
Compensation expense	$8,453	$7,599
Stock options | Property management and other costs
Stock-Based Compensation Plans
Compensation expense	1,889	2,205
Stock options | General and administrative
Stock-Based Compensation Plans
Compensation expense	2,794	4,697
Restricted Stock | Property management and other costs
Stock-Based Compensation Plans
Compensation expense	773	421
Restricted Stock | General and administrative
Stock-Based Compensation Plans
Compensation expense	$148	$276

STOCKBASED_COMPENSATION_PLANS_3

STOCK-BASED COMPENSATION PLANS (Details 3) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Shares
Exercised (in shares)	-936,082	-26,652
Stock options
Shares
Stock options Outstanding at the beginning of the period (in shares)	19,744,224	21,565,281
Granted (in shares)	267,253	50,000
Exercised (in shares)	-936,082	-26,652
Forfeited (in shares)	-124,784	-107,797
Expired (in shares)	-2,439	-8,102
Stock options Outstanding at the end of the period (in shares)	18,948,172	21,472,730
Weighted Average Exercise Price
Stock options Outstanding at the beginning of the period (in dollars per share)	17.36	17.28
Granted (in dollars per share)	29.15	22.41
Exercised (in dollars per share)	16.75	15.79
Forfeited (in dollars per share)	20.22	18.78
Expired (in dollars per share)	19.24	14.39
Stock options Outstanding at the end of the period (in dollars per share)	17.53	17.29

ACCOUNTS_AND_NOTES_RECEIVABLE_2

ACCOUNTS AND NOTES RECEIVABLE, NET (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Dec. 31, 2014
ACCOUNTS AND NOTES RECEIVABLE, NET
Trade receivables	$93,268,000	$124,698,000
Notes receivable	326,106,000	320,881,000
Straight-line rent receivable	217,470,000	230,172,000
Other accounts receivable	3,928,000	3,638,000
Total accounts and notes receivable	640,772,000	679,389,000
Provision for doubtful accounts	-16,619,000	-15,621,000
Total accounts and notes receivable, net	624,153,000	663,768,000
Unconsolidated
ACCOUNTS AND NOTES RECEIVABLE, NET
Total accounts and notes receivable, net	216,038,000	203,511,000
Aliansce | Unconsolidated
ACCOUNTS AND NOTES RECEIVABLE, NET
Notes receivable	$110,700,000
Effective interest rate (as a percent)	14.00%
Term of note	5 years

PREPAID_EXPENSES_AND_OTHER_ASS2

PREPAID EXPENSES AND OTHER ASSETS (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Intangible assets:
Gross Asset	$939,402	$1,101,475
Accumulated Amortization	-442,866	-533,068
Balance	496,536	568,407
Remaining prepaid expenses and other assets:
Security and escrow deposits	77,674	93,676
Prepaid expenses	45,085	76,306
Other non-tenant receivables (1)	189,899	28,712
Deferred tax, net of valuation allowances	3,233	4,220
Other	34,538	42,456
Total remaining prepaid expenses and other assets	350,429	245,370
Total prepaid expenses and other assets	846,965	813,777
Above-market tenant leases, net
Intangible assets:
Gross Asset	708,351	870,103
Accumulated Amortization	-405,951	-498,016
Balance	302,400	372,087
Below-market ground leases, net
Intangible assets:
Gross Asset	119,545	119,866
Accumulated Amortization	-9,191	-8,906
Balance	110,354	110,960
Real estate tax stabilization agreement, net
Intangible assets:
Gross Asset	111,506	111,506
Accumulated Amortization	-27,724	-26,146
Balance	$83,782	$85,360

ACCOUNTS_PAYABLE_AND_ACCRUED_E2

ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Intangible liabilities:
Gross Liability	$443,269	$527,314
Accumulated Accretion	-220,842	-267,779
Balance	222,427	259,535
Remaining Accounts payable and accrued expenses:
Accrued interest	46,443	54,332
Accounts payable and accrued expenses	66,993	82,292
Accrued real estate taxes	76,124	85,910
Deferred gains/income	95,970	114,968
Accrued payroll and other employee liabilities	29,585	55,059
Construction payable	102,619	198,471
Tenant and other deposits	12,550	21,423
Insurance reserve liability	16,352	16,509
Capital lease obligations	11,898	12,066
Conditional asset retirement obligation liability	9,379	10,135
Uncertain tax position liability	6,663	6,663
Other	18,310	17,534
Total remaining Accounts payable and accrued expenses	492,886	675,362
Total Accounts payable and accrued expenses	715,313	934,897
Below-market tenant leases, net
Intangible liabilities:
Gross Liability	418,874	502,919
Accumulated Accretion	-211,926	-259,390
Balance	206,948	243,529
Above-market headquarters office leases, net
Intangible liabilities:
Gross Liability	15,268	15,268
Accumulated Accretion	-7,302	-6,867
Balance	7,966	8,401
Above-market ground leases, net
Intangible liabilities:
Gross Liability	9,127	9,127
Accumulated Accretion	-1,614	-1,522
Balance	$7,513	$7,605

COMMITMENTS_AND_CONTINGENCIES_1

COMMITMENTS AND CONTINGENCIES (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Commitments and Contingencies Disclosure [Abstract]
Contractual rent expense, including participation rent	$2,300	$3,258
Contractual rent expense, including participation rent and excluding amortization of above and below-market ground leases and straight-line rent	$1,697	$2,102

SUBSEQUENT_EVENTS_Details

SUBSEQUENT EVENTS (Details) (USD $)	0 Months Ended
	Apr. 27, 2015	Feb. 27, 2015	Apr. 10, 2015	Apr. 17, 2015	Apr. 01, 2015
Subsequent Event [Member]
Subsequent Event [Line Items]
Proceeds from Sale of Buildings	$125,000,000
85 5th Avenue New York, New York [Domain] | Subsequent Event [Member]
Subsequent Event [Line Items]
Equity Method Investments					14,000,000
Notes receivable					7,000,000
Ala Moana [Member]
Subsequent Event [Line Items]
Business Acquisition, Remaining Net Proceeds		237,000,000
Business Acquisition, Total Partnership Net Proceeds		907,000,000
Consideration for acquisition		1,362,700,000
Payments to Acquire Businesses, Gross		670,000,000
Ala Moana [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Business Acquisition, Remaining Net Proceeds			119,000,000
Disposal Group Not Discontinued Operation In Ownership Interest, Potential Sale			12.50%
Business Acquisition, Total Partnership Net Proceeds			454,000,000
Consideration for acquisition			335,000,000
730 5th Avenue [Domain] | Subsequent Event [Member]
Subsequent Event [Line Items]
Payments to Acquire Interest in Joint Venture				1,775,000,000
Notes, Loans and Financing Receivable, Gross, Noncurrent				204,300,000
Business Combination, Consideration Transferred, Liabilities Incurred				1,250,000,000
Payments to Acquire Businesses, Gross				$205,000,000