Rouse Properties (RSE) 10-Q 4 May 15 2015 Q1 Quarterly report Financial data

DOCUMENT_AND_ENTITY_INFORMATIO

DOCUMENT AND ENTITY INFORMATION	3 Months Ended
	Mar. 31, 2015	1-May-15
Document and Entity Information
Entity Registrant Name	Rouse Properties, Inc.
Entity Central Index Key	1528558
Current Fiscal Year End Date	-19
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Document Type	10-Q
Document Period End Date	31-Mar-15
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1
Amendment Flag	FALSE
Entity Common Stock, Shares Outstanding (shares)		57,829,834

CONSOLIDATED_BALANCE_SHEETS

CONSOLIDATED BALANCE SHEETS (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Investment in real estate:
Land	$373,236	$371,363
Buildings and equipment	1,845,858	1,820,072
Less accumulated depreciation	-195,183	-189,838
Net investment in real estate	2,023,911	2,001,597
Cash and cash equivalents	11,331	14,308
Restricted cash	52,491	48,055
Accounts receivable, net	34,471	35,492
Deferred expenses, net	50,380	52,611
Prepaid expenses and other assets, net	54,768	62,690
Real Estate Assets Held for Development and Sale	0	55,647
Total assets	2,227,352	2,270,400
Liabilities:
Mortgages, notes and loans payable	1,545,525	1,584,499
Accounts payable and accrued expenses, net	113,444	113,976
Disposal Group, Including Discontinued Operation, Liabilities, Current	0	38,590
Total liabilities	1,658,969	1,737,065
Commitments and contingencies	0	0
Equity:
Preferred stock: $0.01 par value; 50,000,000 shares authorized, no shares issued and outstanding as of March 31, 2015 and December 31, 2014	0	0
Common stock	578	578
Additional paid-in capital	670,283	679,275
Accumulated deficit	-118,474	-162,881
Accumulated Other Comprehensive Income (Loss), Net of Tax	-888	-482
Total stockholders' equity	551,499	516,490
Non-controlling interest	16,884	16,845
Total equity	568,383	533,335
Total liabilities and equity	$2,227,352	$2,270,400

CONSOLIDATED_BALANCE_SHEETS_Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Mar. 31, 2015	Dec. 31, 2014
Preferred Stock [Member]
Par value of shares (in dollars per share)	$0.01	$0.01
Preferred Stock, Shares Authorized (in shares)	50,000,000	50,000,000
Number of preferred shares issued (in shares)	0	0
Preferred Stock, Shares Outstanding (in shares)	0	0
Common Class A [Member]
Common stock, par value (in dollars per share)	$0.01	$0.01
Common stock, shares authorized (in shares)	500,000,000	500,000,000
Common stock, shares issued (in shares)	57,746,765	49,652,596
Common stock, shares outstanding (in shares)	57,742,605	49,648,436

CONSOLIDATED_STATEMENTS_OF_OPE

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Statement of Comprehensive Income [Abstract]
Net Income (Loss) Attributable to Noncontrolling Interest	$6	$0
Net Income (Loss) Attributable to Parent	44,407	-4,425
Revenues:
Minimum rents	51,534	45,970
Tenant recoveries	19,949	19,184
Overage rents	1,590	1,464
Other	1,488	1,221
Total revenues	74,561	67,839
Expenses:
Property operating costs	16,875	16,736
Real estate taxes	7,474	6,193
Property maintenance costs	3,385	3,176
Marketing	389	541
Provision for doubtful accounts	497	193
General and administrative	6,470	5,941
Restructuring, Settlement and Impairment Provisions	2,900	0
Depreciation and amortization	25,986	21,045
Other	2,159	674
Total expenses	66,135	54,499
Operating income	8,426	13,340
Interest income	13	172
Interest expense	-19,151	-17,813
Gain (Loss) on extinguishment of debt	22,840	0
Provision for income taxes	-236	-124
Income (loss) from continuing operations before gain on sale of real estate assets	11,892	-4,425
Gains (Losses) on Sales of Investment Real Estate	32,509	0
Loss from continuing operations	44,401	-4,425
Net income (loss)	44,401	-4,425
Earnings Per Share, Diluted	$0.76
Earnings Per Share, Basic	$0.77	($0.08)
Dividends declared per share (in dollars per share)	$0.18	$0.17
Comprehensive loss:
Net income (loss)	44,401	-4,425
Other comprehensive loss:
Unrealized loss on financial instrument	-406	-286
Comprehensive income (loss)	$43,995	($4,711)

CONSOLIDATED_STATEMENTS_OF_EQU

CONSOLIDATED STATEMENTS OF EQUITY (USD $)	1 Months Ended	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Jan. 31, 2014	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014	Dec. 31, 2013
Noncontrolling Interest, Increase from Business Combination		$45
Stock Issued During Period, Shares, Employee Stock Purchase Plans		1,437
Stock Issued During Period, Value, Stock Options Exercised		553	820
Increase (Decrease) in Shareholders' Equity
Balance	455,281	533,335	455,281
Net income (loss)		44,401	-4,425
Unrealized loss on financial instrument		-406	-286
Comprehensive loss		-406
Stock Issued During Period, Shares, New Issues	8,050,000
Proceeds from Issuance of Common Stock	150,700	0	156,976
Stock Issued During Period, Value, Conversion of Convertible Securities			286
Offering costs			-150,697
Dividends		-10,410	470
Issuance and amortization of stock compensation		865	-10,937
Additional Paid-In Capital
Stock Issued During Period, Value, Stock Options Exercised		553	820
Increase (Decrease) in Shareholders' Equity
Balance	565,798		565,798
Offering costs			-150,616
Dividends		-10,410	470
Issuance and amortization of stock compensation		865	-10,937
Accumulated Deficit
Increase (Decrease) in Shareholders' Equity
Balance	-111,125		-111,125
Net income (loss)		44,407	-4,425
Accumulated Other Comprehensive Loss
Increase (Decrease) in Shareholders' Equity
Balance	0		0	-482
Unrealized loss on financial instrument			-286
Non-controlling Interest
Noncontrolling Interest, Increase from Business Combination		45
Increase (Decrease) in Shareholders' Equity
Balance		16,845			111
Noncontrolling Interest in Net Income (Loss) Joint Venture Partners, Nonredeemable		-6
Common Class B [Member] | Common Stock [Member]
Increase (Decrease) in Shareholders' Equity
Balance (in shares)	0		0	0
Balance	0		0	0
Stock Issued During Period, Value, Conversion of Convertible Securities			0
Common Class A [Member]
Increase (Decrease) in Shareholders' Equity
Balance (in shares)				49,652,596
Common Class A [Member] | Common Stock [Member]
Increase (Decrease) in Shareholders' Equity
Balance (in shares)	49,648,436	57,743,981	49,648,436
Balance	497		497
Stock Issued During Period, Shares, New Issues		8,050,000	8,050,000
Stock Issued During Period, Value, New Issues			81
Issuance and amortization of stock compensation (in shares)		53,550	0
Issuance and amortization of stock compensation			$0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period		34,248	42,489

CONSOLIDATED_STATEMENTS_OF_EQU1

CONSOLIDATED STATEMENTS OF EQUITY (Parenthetical) (USD $)	1 Months Ended	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Jan. 31, 2014	Mar. 31, 2015	Mar. 31, 2014
Common Stock, Dividends, Per Share, Cash Paid		$0	$0.13
Stock Issued During Period, Shares, New Issues	8,050,000
Underwriting Discount		$0	$6,279
Common Stock [Member]
Underwriting Discount		$6,200
Common Stock [Member] | Common Class A [Member]
Common Stock, Dividends, Per Share, Cash Paid	0.13
Stock Issued During Period, Shares, New Issues		8,050,000	8,050,000

CONSOLIDATED_STATEMENTS_OF_CAS

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Cash Flows from Operating Activities:
Net income (loss)	$44,401,000	($4,425,000)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Provision for doubtful accounts	497,000	193,000
Depreciation	23,715,000	19,161,000
Amortization	2,271,000	1,884,000
Amortization/write-off of deferred finance costs	899,000	1,272,000
Amortization/write-off of debt market rate adjustments	-9,000	500,000
Amortization of above/below market leases and tenant inducements	2,498,000	3,789,000
Straight-line rent amortization	42,000	-631,000
Provision for impairment	2,900,000	0
Gain on extinguishment of debt	22,840,000	0
Gain (Loss) on Sale of Properties	-32,509,000	0
Stock based compensation	865,000	820,000
Net changes:
Accounts receivable	380,000	-2,737,000
Prepaid expenses and other assets	1,581,000	352,000
Deferred expenses	-2,889,000	-4,104,000
Restricted cash	-1,536,000	2,827,000
Accounts payable and accrued expenses	-1,779,000	-6,377,000
Net cash provided by operating activities	18,487,000	12,524,000
Cash Flows from Investing Activities:
Acquisition/development of real estate and property additions/improvements	-48,000,000	0
Proceeds from Sale of Productive Assets	90,197,000	0
Payments Development, Building and Tenant Improvement	27,388,000	19,917,000
Demand deposit from affiliate	0	-50,051,000
Deposit for acquisition	0	1,000,000
Restricted cash	1,917,000	-1,259,000
Net cash provided by (used in) investing activities	16,726,000	-72,227,000
Cash Flows from Financing Activities:
Proceeds received from rights offering	0	156,976,000
Underwriting Discount	0	-6,279,000
Proceeds from Stock Options Exercised	553,000	0
Payments for offering costs	0	-470,000
Proceeds from refinance/issuance of mortgages, notes and loans payable	31,850,000	0
Borrowing under revolving line of credit	40,000,000	10,000,000
Principal payments on mortgages, notes and loans payable	-50,487,000	-32,820,000
Repayments under revolving credit line	-50,000,000	-58,000,000
Dividends paid	-9,817,000	-7,506,000
Deferred financing costs	-289,000	-302,000
Net cash (used in) provided by financing activities	-38,190,000	61,599,000
Net change in cash and cash equivalents	-2,977,000	1,896,000
Cash and cash equivalents at beginning of period	14,308,000	14,224,000
Cash and cash equivalents at end of period	11,331,000
Supplemental Disclosure of Cash Flow Information:
Interest paid, net of capitalized interest	16,485,000	16,651,000
Capitalized interest	-446,000	-482,000
Non-Cash Transactions:
Change in accrued capital expenditures included in accounts payable and accrued expenses	-5,938,000	8,770,000
Dividends declared, not yet paid	10,478,000
Capitalized market rate adjustments and deferred financing amortization	61,000	76,000
Supplemental non-cash information related to gain on extinguishment of debt:
Land	-5,320,000	0
Accounts receivable	490,000	0
Buildings and equipment, net	-16,966,000	0
Deferred expenses, net	-681,000	0
Mortgages, notes and loans payable	-45,960,000	0
Prepaid expenses and other assets	-224,000	0
Accounts payable and accrued expenses	($1,803,000)	$0

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 and Combined Financial Statements for the year ended December 31, 2014, which are included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2014 (the “Annual Report”), as certain footnote disclosures which would substantially duplicate those contained in the Annual Report have been omitted from this Quarterly Report.  Capitalized terms used, but not defined in this Quarterly Report, have the same meanings as in the Annual Report.
	General
	Rouse Properties, Inc. is a Delaware corporation that was created to hold certain assets and liabilities of General Growth Properties, Inc. ("GGP"). Prior to January 12, 2012, Rouse Properties, Inc. and its subsidiaries ("Rouse" or the "Company") were a wholly-owned subsidiary of GGP Limited Partnership (“GGP LP”). GGP distributed the assets and liabilities of 30 of its wholly-owned properties (“RPI Businesses”) to Rouse on January 12, 2012 (the “Spin-Off Date”). Before the spin-off, the Company had not conducted any business as a separate company and had no material assets or liabilities. The operations, assets and liabilities of the business were transferred to the Company by GGP on the Spin-Off Date and are presented as if the transferred business was our business for all historical periods prior to the Spin-Off Date. As such, the Company's assets and liabilities on the Spin-Off Date were reflective of GGP's respective carrying values. Unless the context otherwise requires, references to “we”, “us” and “our” refer to Rouse.
	Principles of Consolidation and Basis of Presentation
	The accompanying consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP"). The accompanying consolidated financial statements include the accounts of Rouse, as well as all subsidiaries of Rouse and all joint ventures in which the Company has a controlling interest. For consolidated joint ventures, the non-controlling 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 non-controlling interests as permanent equity of the Company. All intercompany transactions have been eliminated in consolidation as of and for each of the three months ended March 31, 2015 and 2014.
	The Company operates in a single reportable segment referred to as its retail segment, which includes the operation, development and management of regional malls. Each of the Company's 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 does not distinguish its operations based on geography, size or type and all operations are within the United States. No customer or tenant comprises more than 10% of consolidated revenues, and the properties have similar economic characteristics.

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
	Properties
	Acquisition accounting was applied to real estate assets within the Rouse portfolio either when GGP emerged from bankruptcy in November 2010 or upon any subsequent acquisition. After acquisition accounting is applied, the real estate assets are carried at their cost basis less accumulated depreciation. Real estate taxes and interest costs incurred during development periods are capitalized. Capitalized interest costs are based on qualified expenditures and interest rates in place during the development period. Capitalized real estate taxes, interest and interest related costs are amortized over lives which are consistent with the developed assets.
	Pre-development costs, which generally include legal and professional fees and other directly-related third party costs, are capitalized as part of the property being developed. In the event a development is no longer deemed to be probable, the costs previously capitalized are expensed.
	Tenant improvements, either paid directly or in the form of construction allowances paid to tenants, are capitalized and depreciated over the shorter of the useful life or applicable lease term. Maintenance and repair costs are expensed when incurred. Expenditures for significant betterments and improvements are capitalized. In leasing tenant space, the Company may provide funding to the lessee through a tenant allowance. In accounting for a tenant allowance, the Company determines whether the allowance represents funding for the construction of leasehold improvements and evaluates the ownership of such improvements. If the Company is considered the owner of the leasehold improvements for accounting purposes, it capitalizes the amount of the tenant allowance and depreciates it over the shorter of the useful life of the leasehold improvements or the related lease term. If the tenant allowance represents a payment for a purpose other than funding leasehold improvements, or in the event that the Company is not considered the owner of the improvements for accounting purposes, the allowance is capitalized as a lease incentive and is recognized over the lease term as a reduction of rental revenue on a straight-line basis.
	Depreciation or amortization expense is computed using the straight-line method based upon the following estimated useful lives:
		Years
	Buildings and improvements	40
	Equipment and fixtures	10-May
	Tenant improvements	Shorter of useful life or applicable lease term
	The Company reviews depreciable lives of its properties periodically and makes adjustments when necessary to reflect a shorter economic life.
	Impairment
	Operating properties and intangible assets
	Accounting for the impairment or disposal of long-lived assets requires that if impairment indicators exist and the undiscounted cash flows expected to be generated by an asset are less than its carrying amount, an impairment provision should be recorded to write down the carrying amount of such asset to its fair value. The Company reviews all real estate assets 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 and occupancy percentages, high loan to value ratios, and carrying values in excess of the fair values. Impairment indicators for pre-development costs, which are typically costs incurred during the beginning stages of a potential development and developments in progress, are assessed by project and include, but are not limited to, significant changes to the Company’s plans with respect to the project, significant changes in projected completion dates, revenues or cash flows, development costs, market factors and sustainability of development projects.
	If an indicator of potential impairment exists, the asset is tested for recoverability by comparing its carrying amount to the estimated future undiscounted cash flows. The cash flow estimates used both for determining recoverability and estimating fair value are inherently judgmental and reflect current and projected trends in rental, occupancy and capitalization rates, and estimated holding periods for the applicable assets. Although the estimated fair value of certain assets may exceed the carrying amount, 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 a provision for impairment is determined to be necessary, the excess of the carrying amount of the asset over its estimated fair value is expensed to operations. The adjusted carrying amount, which represents the new cost basis of the asset, is depreciated over the remaining useful life of the asset.
	The Company determined there were events and circumstances which changed management's estimated holding period for Collin Creek Mall during the year ended December 31, 2014. The Company is in discussions with the lender on the property's non-recourse mortgage debt, which matures in July 2016, to identify options regarding the property's disposition prior to the loan maturity. The lender has placed the loan into special servicing status. As a result of the continued decline in the operating results of the property, the Company recorded an impairment charge of $2.9 million during the three months ended March 31, 2015, as the aggregate carrying value was higher than the fair value of the property. This impairment charge is included in "Provision for impairment" on the Company's Consolidated Statements of Operations and Comprehensive Income (Loss).
	No impairment charges were recorded for the three months ended March 31, 2014.
	Intangible Assets and Liabilities
	The following table summarizes our intangible assets and liabilities as a result of the application of acquisition accounting:
		Gross Asset				Accumulated				Net Carrying
		(Liability)				(Amortization)/				Amount
						Accretion
		(In thousands)
	31-Mar-15
	Tenant leases:
	In-place value	$	87,361			$	(36,015	)		$	51,346
	Above-market	100,139				(53,898		)		46,241
	Below-market	(62,150		)		20,834				(41,316		)
	Ground leases:
	Below-market	3,682				(575		)		3,107
	31-Dec-14
	Tenant leases:
	In-place value	$	97,745			$	(43,481	)		$	54,264
	Above-market	109,862				(58,866		)		50,996
	Below-market	(65,476		)		22,184				(43,292		)
	Ground leases:
	Below-market	3,682				(537		)		3,145
	The gross asset balances of the in-place value of tenant leases are included in "Buildings and Equipment" on the Company's Consolidated Balance Sheets. Acquired in-place tenant leases are amortized over periods that approximate the related lease terms. The above-market tenant leases and below-market ground leases are included in "Prepaid expenses and other assets, net", and below-market tenant leases are included in "Accounts payable and accrued expenses, net" as detailed in Notes 4 and 6, respectively.
	Amortization of in-place intangible assets and liabilities decreased the Company's income by $6.0 million and $5.9 million for the three months ended March 31, 2015 and 2014, respectively. Amortization of in-place intangibles is included in "Depreciation and amortization" on the Company's Consolidated Statements of Operations and Comprehensive Income (Loss).
	Amortization of above-market and below-market lease intangibles decreased the Company's revenue by $2.5 million and $3.8 million for the three months ended March 31, 2015 and 2014, respectively. Amortization of above-market and below-market lease intangibles is included in "Minimum rents" on the Company's Consolidated Statements of Operations and Comprehensive Income (Loss).
	Future amortization/accretion of these intangibles is estimated to decrease the Company's net income as follows:
	Year		In-place lease intangibles				Above/(below) market leases, net
			(In thousands)
	Remainder of 2015		$	13,735			$	5,286
	2016		12,059				5,054
	2017		7,149				3,179
	2018		4,695				739
	2019		3,296				(781		)
	2020		2,677				(1,110		)
	Cash and Cash Equivalents
	The Company considers all demand deposits with a maturity of three months or less, at the date of purchase, to be cash equivalents.
	Restricted Cash
	Restricted cash consists of security deposits and cash escrowed under loan agreements for debt service, real estate taxes, property insurance, tenant improvements, capital renovations and capital improvements.
	Interest Rate Hedging Instruments
	The Company recognizes its derivative financial instruments in either "Prepaid expenses and other assets, net" or "Accounts payable and accrued expenses, net", as applicable, in the Consolidated Balance Sheets and measures those instruments at fair value. The accounting for changes in fair value (i.e., gain or loss) of a derivative depends on whether it has been designated and qualifies as part of a hedging relationship, and further, on the type of hedging relationship. To qualify as a hedging instrument, a derivative must pass prescribed effectiveness tests, performed quarterly using both quantitative and qualitative methods. The Company entered into a derivative agreement as of March 31, 2014 that qualifies as a hedging instrument and was designated, based upon the exposure of being hedged, as a cash flow hedge. The fair value of this cash flow hedge as of March 31, 2015 was $0.9 million and is included in "Accounts payable and accrued expenses, net" in the Company's Consolidated Balance Sheets. The fair value of the Company's interest rate hedge is classified as Level 2 in the fair value measurement table. To the extent they are effective, changes in fair value of cash flow hedges are reported in "Accumulated other comprehensive income (loss)" ("AOCI/L") and reclassified into earnings in the same period or periods during which the hedged item affects earnings. The ineffective portion of the hedge, if any, is recognized in current earnings during the period of change in fair value. The gain or loss on the termination of an effective cash flow hedge is reported in AOCI/L and reclassified into earnings in the same period or periods during which the hedged item affects earnings. The Company also assesses the credit risk that the counterparty will not perform according to the terms of the contract.
	Revenue Recognition and Related Matters
	Minimum rent revenues are recognized on a straight-line basis over the terms of the related leases. Minimum rent revenues also include amounts collected from tenants to allow the termination of their leases prior to their scheduled expiration dates as well as the amortization related to above and below-market tenant leases on acquired properties and tenant inducements. Minimum rent revenues also includes percentage rents in lieu of minimum rent from those leases where the Company receives a percentage of tenant revenues.
	The following is a summary of amortization of straight-line rent, lease termination income, net amortization related to above and below-market tenant leases, amortization of tenant inducements, and percentage rent in lieu of minimum rent for the three months ended March 31, 2015 and 2014:
			Three Months Ended
			March 31,
			2015				2014
			(In thousands)
	Straight-line rent amortization		$	(42	)		$	625
	Lease termination income		433				—
Net amortization of above and below-market tenant leases		(2,459		)		(3,757		)
Amortization of lease inducement		(8		)		—
Percentage rent in lieu of minimum rent		1,597				1,607
Straight-line rent receivables represent the current net cumulative rents recognized prior to when billed and collectible, as provided by the terms of the leases. The following is a summary of straight-line rent receivables, which are included in "Accounts receivable, net," in the Company's Consolidated Balance Sheets and are reduced for allowances for doubtful accounts:
	March 31, 2015				December 31, 2014
	(In thousands)
Straight-line rent receivables, net	$	13,893			$	14,431
The Company provides 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. The Company also evaluates the probability of collecting future rent which is recognized currently under a straight-line methodology. This analysis considers the long term nature of the Company's leases, as a certain portion of the straight-line rent currently recognizable will not be billed to the tenant until future periods. The Company's experience relative to unbilled straight-line rent receivable is that a certain portion of the amounts recorded as straight-line rental revenue are never collected from (or billed to) tenants due to early lease terminations. For that portion of the recognized deferred rent that is not deemed to be probable of collection, an allowance for doubtful accounts has been provided. Accounts receivable are shown net of an allowance for doubtful accounts of $3.8 million and $3.4 million as of March 31, 2015 and December 31, 2014, respectively.
Tenant recoveries are recoveries from tenants that 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 in which the related costs are incurred. The Company makes certain assumptions and judgments in estimating the reimbursements at the end of each reporting period. The Company does not expect the actual results to materially differ from the estimated reimbursement.
Overage rent is paid by a tenant when its sales exceed an agreed-upon minimum amount. Overage rent is calculated by multiplying the sales in excess of the minimum amount by a percentage defined in the lease. Overage rent is recognized on an accrual basis once tenant sales exceed contractual tenant lease thresholds.
Other revenues generally consist of amounts earned by the Company for vending, advertising, and marketing revenues earned at the Company's malls and is recognized on an accrual basis over the related service period.
Income (Loss) Per Share
Basic net income (loss) per share is computed by dividing the net income (loss) applicable to common stockholders by the weighted-average number of shares of common stock outstanding for the period. Diluted net income per share is calculated similarly; however, it reflects potential dilution of securities by adding the incremental weighted average shares that would have been outstanding assuming all potentially dilutive securities were converted into common stock at the earliest date possible to the weighted-average number of shares of common stock outstanding for the period. As of March 31, 2015 and 2014, there were 4,104,412 and 3,294,071 stock options outstanding, respectively, that potentially could be converted into shares of common stock and 145,939 and 219,642 shares of non-vested restricted stock outstanding, respectively. The impact of dilutive stock options and non-vested restricted stock have been considered in the calculation of diluted weighted average shares outstanding for the three months ended March 31, 2015. The stock options and shares of restricted stock are excluded from the weighted average shares dilution computation for the three months ended March 2014, as their effect is anti-dilutive.
Fair Value
The objective of fair value is to determine the price that would be received upon the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (the exit price).  GAAP establishes a fair value hierarchy that prioritizes observable and unobservable inputs used to measure fair value:
•	Level 1 — quoted prices (unadjusted) in active markets that are accessible at the measurement date for assets or liabilities;
•	Level 2 — observable prices that are based on inputs not quoted in active markets, but corroborated by market data; and
•	Level 3 — unobservable inputs that are used when little or no market data is available.
The fair value hierarchy gives the highest priority to Level 1 inputs and the lowest priority to Level 3 inputs. In determining fair value, the Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible, as well as consider counterparty credit risk in our assessment of fair value.  Considerable judgment is necessary to interpret Level 2 and 3 inputs in determining the fair value of our financial and non-financial assets and liabilities.  Accordingly, the Company's fair value estimates, which are made at the end of each reporting period, may be different than the amounts that may ultimately be realized upon the sale or disposition of these assets.
The following table sets forth information regarding the Company's financial and non-financial instruments that are measured at fair value on a recurring and non-recurring basis by the above categories:
			Total Fair Value Measurement				Quoted Price in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
			(In thousands)
31-Mar-15
Recurring basis:
Assets:
Interest rate cap			$	—			$	—			$	—			$	—
Liabilities:
Interest rate swap			$	(888	)		$	—			$	(888	)		$	—
Non-recurring basis:
Investment in Real Estate (1)			$	48,528			$	—			$	—			$	48,528
31-Dec-14
Recurring basis:
Assets:
Interest rate cap			$	1			$	—			$	1			$	—
Liabilities:
Interest rate swap			$	(482	)						$	(482	)		$	—
Non-recurring basis:
Investment in Real Estate (1)			$	74,237			$	—			$	—			$	74,237
Explanatory Note:
(1) The carrying value includes each mall's respective land, building, and in-place lease value.
The following is a reconciliation of the carrying value of properties that were impaired and disposed of during the three months ended March 31, 2015:
		Collin Creek Mall (1)(2)				Steeplegate Mall (3)
		(In thousands)
Beginning carrying value, January 1, 2015		$	51,767			$	22,659
Capital expenditures		75				—
Depreciation and amortization expense		(414		)		(219		)
Loss on impairment of real estate		(2,900		)		—
Disposition of real estate asset		—				(22,440		)
Ending carrying value, March 31, 2015		$	48,528			$	—
Explanatory Notes:
(1) The carrying value includes the mall's respective land, building, in-place lease value, and above and below market lease values.
(2) The fair valued derermined using a terminal capitalization rate as of March 31, 2015.
(3) The property was conveyed to its mortgage lender during the three months ended March 31, 2015.
The Company estimates fair value relating to impairment assessments utilizing a direct capitalization rate on forecasted net operating income or discounted cash flows that include all projected cash inflows and outflows over a specific holding period. 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. The determination of which method to use is based on expected market conditions specific to the property being assessed. Based upon these inputs, the Company determined that its valuation of a property using a discounted cash flow model was classified within Level 3 of the fair value hierarchy.
The following table sets forth quantitative information about the unobservable inputs of the Company's Level 3 real estate, which is recorded at fair value as of March 31, 2015:
Unobservable Quantitative Inputs
Terminal Capitalization Rate	9.5	%
The Company uses interest rate swaps and caps to mitigate the effect of interest rate movements on its variable-rate debt. The Company has one interest rate swap and one interest rate cap as of March 31, 2015 and the interest rate swap qualified for hedge accounting. The interest rate swap has met the effectiveness test criteria since inception and changes in its fair value are reported in "Other comprehensive income/(loss)" ("OCI/L") and are reclassified into earnings in the same period or periods during which the hedged item affects earnings. The interest rate cap did not qualify for hedge accounting and changes in its fair value are reported in earnings during the period incurred. The fair value of the Company's interest rate hedges, classified under Level 2, are determined based on prevailing market data for contracts with matching durations, current and anticipated LIBOR information, consideration of the Company's credit standing, credit risk of the counterparty, and reasonable estimates about relevant future market conditions. See Note 7 for additional information regarding the Company's interest rate hedging instruments.
The Company's financial instruments are short term in nature and as such their fair values approximate their carrying amount in our Consolidated Balance Sheets except for debt. As of March 31, 2015 and December 31, 2014, management’s estimates of fair value are presented below. The Company estimated the fair value of the debt by using a future discounted cash flow analysis based on the use and weighting of multiple market inputs. As a result of the frequency and availability of market data, the inputs used to measure the estimated fair value of debt are Level 3 inputs. The primary sensitivity in these calculations is based on the selection of appropriate discount rates.
	March 31, 2015								December 31, 2014
	Carrying Amount				Estimated Fair				Carrying Amount				Estimated Fair
					Value								Value
	(In thousands)
Fixed-rate debt	$	1,220,430			$	1,231,948			$	1,249,195			$	1,248,928
Variable-rate debt	325,095				326,916				335,304				336,791
Total mortgages, notes and loans payable, net	$	1,545,525			$	1,558,864			$	1,584,499			$	1,585,719
Deferred Expenses
Deferred expenses are comprised of deferred lease costs incurred in connection with obtaining new tenants or renewals of lease agreements with current tenants, which are amortized on a straight-line basis over the terms of the related leases and included in "Depreciation and amortization" on the Company's Consolidated Statements of Operations and Comprehensive Income (Loss). Deferred financing costs are amortized on a straight-line basis (which approximates the effective interest method) over the lives of the related mortgages, notes, and loans payable and included in "Interest expense" on the Company's Consolidated Statements of Operations and Comprehensive Income (Loss).  The following table summarizes our deferred lease and financing costs:
	Gross Asset				Accumulated				Net Carrying
					Amortization				Amount
	(In thousands)
31-Mar-15
Deferred lease costs	$	53,582			$	(13,847	)		$	39,735
Deferred financing costs	16,753				(6,108		)		10,645
Total	$	70,335			$	(19,955	)		$	50,380
31-Dec-14
Deferred lease costs	$	55,647			$	(14,683	)		$	40,964
Deferred financing costs	19,151				(7,504		)		11,647
Total	$	74,798			$	(22,187	)		$	52,611
Asset Retirement Obligations
The Company evaluates any potential asset retirement obligations, including those related to disposal of asbestos containing materials and environmental remediation liabilities. The Company recognizes the fair value of such obligations in the period incurred if a reasonable estimate of fair value can be determined. As of March 31, 2015 and December 31, 2014, a preliminary estimate of the cost of the environmental remediation liability was approximately $4.5 million, which is included in "Accounts payable and accrued expenses, net" on the Company's Consolidated Balance Sheets. The Company does not believe that actual remediation costs will be materially different than the estimates as of March 31, 2015.
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, recoverable amounts of receivables, impairment of long-lived assets, valuation of hedging instruments and fair value of debt. Actual results could differ from these and other estimates.
Discontinued Operations
Prior to 2014, the Company reclassified to discontinued operations any material operations and gains or losses on disposal related to properties that were held for sale or disposed of during the period in accordance with the applicable accounting standards. In 2014, the Company early 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 (FASB). 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. The Company applied the revised definition to all disposals on a prospective basis beginning January 1, 2014.
Recent Accounting Pronouncements
In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Updated ("ASU") ASU 2014-09 “Revenue from Contracts with Customers (Topic 606).” This topic provides for five principles which should be followed to determine the appropriate amount and timing of revenue recognition for the transfer of goods and services to customers. The principles in this ASU should be applied to all contracts with customers regardless of industry. The amendments in this ASU are effective for reporting periods beginning after December 15, 2016, with two transition methods of adoption allowed. Early adoption for reporting periods prior to December 15, 2016 is not permitted. On April 1, 2015, the FASB board voted to postpone the effective date of the new revenue recognition standard by one year.  The ASU is now effective for the reporting periods after December 15, 2017. The Company is evaluating the financial statement impact of the guidance in this ASU and determining which transition method we will utilize.
In August 2014, the FASB issued ASU 2014-15, “Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern." This topic provides guidance on management’s responsibility to evaluate whether there is substantial doubt about a company’s ability to continue as a going concern and requires related footnote disclosures. The amendments in this ASU are effective for the annual period after December 15, 2016, and for annual and interim periods thereafter. Early adoption is permitted. The Company is currently evaluating the impact of the guidance in this ASU.
In April 2015, the FASB issued ASU 2015-03, "Simplifying the Presentation of Debt Issuance Costs", which requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of the related debt liability. For public business entities, the ASU is effective for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. Entities should apply the new guidance on a retrospective basis, wherein the balance sheet of each individual period presented should be adjusted to reflect the period-specific effects of applying the new guidance. The Company is currently evaluating the impact of the guidance in this ASU.

ACQUISITIONS_Notes

ACQUISITIONS (Notes)	3 Months Ended
	Mar. 31, 2015
Business Combinations [Abstract]
Acquisitions	ACQUISITIONS
	The Company includes the results of operations of real estate assets acquired in the Company's Consolidated Statements of Operations and Comprehensive Income (Loss) from the date of the related transactions.
	The following table presents the Company's acquisitions as of March 31, 2015 and December 31, 2014:
		Date Acquired		Property Name		Location		Square Footage Acquired		Purchase Price
	2015 Acquisitions									(In thousands)
		1/28/15		Mt. Shasta Mall (1)(2)		Redding, CA		521,000		$	49,000
						2015 Acquisitions Total		521,000		$	49,000
	2014 Acquisitions
		5/22/14		Bel Air Mall (1)(3)		Mobile, AL		1,004,439		$	131,917
		8/29/14		The Mall at Barnes Crossing (4)		Tupelo, MS		736,607		98,850
						2014 Acquisitions Total		1,741,046		$	230,767
	Explanatory Notes:
	(1) Rouse acquired a 100% interest in the mall.
	(2)	The Company closed on a new $31.9 million non-recourse mortgage loan that bears interest at 4.19%, matures in March 2025, is interest only for the first three years and amortizes over 30 years, thereafter.
	(3) The Company assumed an existing $112.5 million non-recourse mortgage loan with the acquisition. The loan bears interest at a fixed rate of 5.30%, amortizes on a 30 year schedule, and matures in December 2015.
	(4) Rouse acquired a 51% controlling interest in the mall and related properties. In conjunction with the closing of this transaction, the Company closed on a new $67.0 million non-recourse mortgage loan that bears interest at a fixed rate of 4.29%, matures in September 2024, is interest only for the first three years and amortizes on a 30 year schedule thereafter. See Note 12 for further details.
	The following table presents certain additional information regarding the Company's acquisitions as of March 31, 2015 and December 31, 2014:
		Property Name		Land				Building and Improvements			Acquired Lease Intangibles		Acquired Above Market Lease Intangibles		Acquired Below Market Lease Intangibles			Other
	2015 Acquisitions			(In thousands)
		Mt. Shasta Mall		$	7,809			$	38,008		$	3,779	$	915	$	(1,813	)	$	302
		Total		$	7,809			$	38,008		$	3,779	$	915	$	(1,813	)	$	302
	2014 Acquisitions
		Bel Air Mall		$	8,969			$	111,206		$	11,329	$	3,952	$	(6,889	)	$	3,350
		The Mall at Barnes Crossing		17,969				75,949			6,973		4,700		(8,100		)	1,359
		Total		$	26,938			$	187,155		$	18,302	$	8,652	$	(14,989	)	$	4,709
	The Company incurred acquisition and transaction related costs of $0.4 million and $0.2 million for the three months ended March 31, 2015 and 2014, respectively. Acquisition and transaction related costs consist of due diligence costs such as legal fees, environmental studies and closing costs. These costs were recorded in "Other" on the Company's Consolidated Statements of Operations and Comprehensive Income (Loss).
	During the three months ended March 31, 2015, the Company recorded approximately $1.3 million in revenues and $0.03 million in net loss related to the acquisition of Mt. Shasta Mall. There were no acquisitions made during the three months ended March 31, 2014.
	The following condensed pro forma financial information for the three months ended March 31, 2015 includes pro forma adjustments related to the acquisition of Mt. Shasta Mall, which is presented assuming the acquisition had been consummated as of January 1, 2014.
	The following condensed pro forma financial information is not necessarily indicative of what the actual results of operations of the Company would have been assuming the acquisition had been consummated as of January 1, nor does it purport to represent the results of operations for future periods. Pro forma adjustments include above and below-market amortization, straight-line rent, interest expense, and depreciation and amortization.
			Three months ended March 31,
			2015				2014
			As Adjusted (Unaudited)
			(In thousands, except per share amounts)
	Total revenues		$	75,195			$	69,741
	Net loss		44,385				(4,473		)
	Net income (loss) per share - basic		$	0.77			$	(0.08	)
	Net income (loss) per share - diluted		$	0.76			$	(0.08	)
	Weighted average shares - basic		57,603,340				56,129,522
	Weighted average shares - diluted		58,287,256				56,129,522

PREPAID_EXPENSES_AND_OTHER_ASS

PREPAID EXPENSES AND OTHER ASSETS, NET	3 Months Ended
	Mar. 31, 2015
Prepaid Expense and Other Assets [Abstract]
PREPAID EXPENSES AND OTHER ASSETS, NET	PREPAID EXPENSES AND OTHER ASSETS, NET
	The following table summarizes the significant components of prepaid expenses and other assets, net:
		March 31,		December 31,
		2015		2014
		(In thousands)
	Above-market tenant leases, net (Note 2)	$	46,241	$	50,996
	Prepaid expenses	3,145		4,755
	Below-market ground leases, net (Note 2)	3,107		3,145
	Deposits	414		1,447
	Other	1,861		2,347
	Total prepaid expenses and other assets, net	$	54,768	$	62,690

MORTGAGES_NOTES_AND_LOANS_PAYA

MORTGAGES, NOTES AND LOANS PAYABLE	3 Months Ended
	Mar. 31, 2015
Debt Disclosure [Abstract]
MORTGAGES, NOTES AND LOANS PAYABLE	MORTGAGES, NOTES AND LOANS PAYABLE, NET
	Mortgages, notes and loans payable are summarized as follows:
		March 31,			December 31,			Interest Rate at March 31, 2015			Scheduled Maturity Date
		2015			2014
	Fixed-rate debt:	(in thousands)
	Steeplegate Mall	$	—		$	45,858		—	%		—
	Bel Air Mall (1)	110,712			111,276			5.3			Dec-15
	Greenville Mall	40,394			40,602			5.29			Dec-15
	Vista Ridge Mall	67,824			68,537			6.87			Apr-16
	Washington Park Mall	—			10,505			—			—
	The Centre at Salisbury	115,000			115,000			5.79			May-16
	The Mall at Turtle Creek	77,379			77,648			6.54			Jun-16
	Collin Creek Mall	57,572			58,128			6.78			Jul-16
	Grand Traverse Mall	59,224			59,479			5.02			Feb-17
	West Valley Mall (2)	59,000			59,000			3.24			Sep-18
	Pierre Bossier  Mall	46,453			46,654			4.94			May-22
	Pierre Bossier Anchor	3,615			3,637			4.85			May-22
	Southland Center (MI)	75,722			76,037			5.09			Jul-22
	Chesterfield Towne Center	107,659			107,967			4.75			Oct-22
	Animas Valley Mall	49,825			50,053			4.41			Nov-22
	Lakeland Square	67,739			68,053			4.17			Mar-23
	Valley Hills Mall	66,204			66,492			4.47			Jul-23
	Chula Vista Center (1)(3)	70,000			70,000			4.18			Jul-24
	The Mall at Barnes Crossing (1)	67,000			67,000			4.29			Sep-24
	Bayshore Mall (1)	46,500			46,500			3.96			Oct-24
	Mt. Shasta Mall (1)	31,850			—			4.19			Mar-25
	Total fixed-rate debt	$	1,219,672		$	1,248,426
	Add: Market rate adjustments	759			769
		$	1,220,431		$	1,249,195
	Variable-rate debt:
	NewPark Mall (4)	$	65,094		$	65,304		3.43	%		May-17
	2013 Term Loan(5)	260,000			260,000			2.93			Nov-18
	2013 Revolver (5)	—			10,000			2.93			Nov-17
	Total variable-rate debt:	$	325,094		$	335,304
	Total mortgages, notes and loans payable, net	$	1,545,525		$	1,584,499
	Explanatory Notes:
	(1) See the significant property loan refinancings and acquisitions table below, under "—Property-Level Debt" in this Note 5 for additional information regarding the debt related to each property.
	(2) During January 2014, the Company entered into a swap transaction which fixes the interest rate on the loan for this property to 3.24%. See Note 7 for further details.
	(3) On July 1, 2014, the Company removed Chula Vista Center from the 2013 Senior Facility (as defined below) collateral pool and placed a new non-recourse mortgage loan on Chula Vista Center. Sikes Senter debt was repaid on July 1, 2014 from proceeds from the Chula Vista Center refinancing and upon repayment Sikes was added to the 2013 Senior Facility collateral pool with no change to the outstanding 2013 Senior Facility collateral pool balance.
	(4) During July 2014, the Company reduced the spread from LIBOR (30 day) plus 405 basis points to LIBOR (30 day) plus 325 basis points.
	(5) LIBOR (30 day) plus 275 basis points.
	Property-Level Debt
	The Company had individual property-level debt (the “Property-Level Debt”) on 19 of its 35 assets, totaling $1.28 billion (excluding $0.8 million of market rate adjustments) as of March 31, 2015. As of March 31, 2015, the Property-Level Debt had a weighted average interest rate of 5.0% and an average remaining term of 4.8 years. The Property-Level Debt is generally non-recourse to the Company and is stand-alone (i.e., not cross-collateralized) first mortgage debt with the exception of customary contingent guarantees and indemnities.
	The following is a summary of significant property loan refinancings and acquisitions that have occurred during the three months March 31, 2015 and the year ended December 31, 2014 ($ in thousands):
	Property		Date	Balance at Date of Refinancing			Interest Rate			Balance of New Loan		New Interest Rate		Net Proceeds (1)		Maturity
	March 31, 2015:
	Mt. Shasta Mall (2)		Feb-15	$	—		—	%		$	31,850	4.19	%	$	—	Mar-25
	December 31, 2014:
	Bayshore Mall (2)		Oct-14	$	—		—	%		$	46,500	3.96	%	$	43,400	Oct-24
	The Mall at Barnes Crossing (2)		Aug-14	—			—	%		67,000		4.29	%	—		Sep-24
	Chula Vista Center (3)		Jul-14	—			—	%		70,000		4.18	%	15,000		Jul-24
	Sikes Senter (3)		Jul-14	54,618			5.2	%		—		—	%	—		—
	Bel Air Mall		May-14	—			—	%		112,505		5.3	%	—		Dec-15
	Explanatory Notes:
	(1) Net proceeds are net of closing costs.
	(2) The loan is interest-only for the first three years.
	(3) On July 1, 2014, the Company removed Chula Vista Center, located in Chula Vista, CA, from the 2013 Senior Facility collateral pool and placed a new non-recourse mortgage loan on the property. Sikes Senter, located in Wichita Falls, TX, had an outstanding mortgage loan which was repaid on July 1, 2014 from proceeds from the Chula Vista Center refinancing. Upon repayment Sikes Senter was added to the 2013 Senior Facility collateral pool with no change to the outstanding 2013 Senior Facility balance.
	In January 2015, the loan associated with The Shoppes at Knollwood with a mortgage debt balance of $35.1 million was defeased simultaneously with the sale of the property. As of December 31, 2014, the loan was shown as a component of "Liabilities of property held for sale" on the Consolidated Balance Sheets.
	In February 2015, the Company repaid the $10.4 million mortgage debt balance on Washington Park Mall which had a fixed interest rate of 5.35%.
	In February 2015, the loan associated with Vista Ridge Mall was transferred to special servicing.
	In March 2015, the loan associated with Steeplegate Mall was conveyed to the lender in full satisfaction of the debt. The loan had an outstanding balance of approximately $45.9 million.
	Corporate Facilities
	2013 Senior Facility
	On November 22, 2013, the Company entered into a $510.0 million secured credit facility that provides borrowings on a revolving basis of up to $250.0 million (the "2013 Revolver") and a $260.0 million senior secured term loan (the "2013 Term Loan" and together with the 2013 Revolver, the "2013 Senior Facility"). Borrowings on the 2013 Senior Facility bear interest at LIBOR plus 185 to 300 basis points based on the Company's corporate leverage. The Company has the option, subject to the satisfaction of certain conditions precedent, to exercise an "accordion" provision to increase the commitments under the 2013 Revolver and/or incur additional term loans in the aggregate amount of $250.0 million such that the aggregate amount of the commitments and outstanding loans under the 2013 Secured Facility does not exceed $760.0 million. During the year ended December 31, 2014, the Company exercised a portion of its "accordion" feature on the 2013 Senior Facility to increase the available borrowings of the 2013 Revolver thereunder from $250.0 million to $285.0 million. The term and rates of the Company's 2013 Senior Facility were otherwise unchanged.
The 2013 Revolver has an initial term of four years with a one year extension option and the 2013 Term Loan has a term of five years. As of March 31, 2015, there was no outstanding balance on the 2013 Revolver. As of December 31, 2014 , the Company had $10.0 million outstanding on the 2013 Revolver. The default interest rate following a payment event of default under the 2013 Senior Facility is 3.00% more than the then-applicable interest rate. The Company is required to pay an unused fee related to the 2013 Revolver equal to 0.20% per year if the aggregate unused amount is greater than or equal to 50% of the 2013 Revolver or 0.30% per year if the aggregate unused amount is less than 50% of the 2013 Revolver.  During each of the three months ended March 31, 2015 and March 31, 2014, the Company incurred $0.2 million of unused fees related to the 2013 Revolver. Under the 2013 Term Loan, letters of credit totaling $1.1 million were outstanding as of March 31, 2015 in connection with four of its properties. Additionally, the Company had $4.1 million of letters of credit outstanding in relation to The Shoppes at Knollwood. During the three months ended March 31, 2015 and 2014, the Company incurred $0.04 million and $0.02 million, respectively, of letter of credit fees.
The 2013 Senior Facility contains representations and warranties, affirmative and negative covenants and defaults that are customary for such a real estate loan. In addition, the 2013 Senior Facility requires compliance with certain financial covenants, including borrowing base loan to value and debt yield, corporate maximum leverage ratio, minimum ratio of adjusted consolidated earnings before interest, tax, depreciation and amortization to fixed charges, minimum tangible net worth, minimum mortgaged property requirement, maximum unhedged variable rate debt and maximum recourse indebtedness. Failure to comply with the covenants in the 2013 Senior Facility would result in a default thereunder and, absent a waiver or an amendment from our lenders, permit the acceleration of all outstanding borrowings under the 2013 Senior Facility. No assurance can be given that the Company would be successful in obtaining such waiver or amendment in this current financial climate, or that any accommodations that the Company were able to negotiate would be on terms as favorable as those in the 2013 Senior Facility. In December 2014, the Company entered into an amendment of the 2013 Senior Facility whereby certain modifications were made to the financial covenant calculations. As of March 31, 2015, the Company was in compliance with all of the debt covenants related to the 2013 Senior Facility.
As of March 31, 2015, $2.12 billion of land, buildings and equipment (before accumulated depreciation) have been pledged as collateral for our mortgages, notes and loans payable. Certain mortgage notes 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.
The weighted-average interest rate on our collateralized mortgages, notes and loans payable was approximately 4.6% as of March 31, 2015 and December 31, 2014. As of March 31, 2015, the average remaining term was 4.6 years.

ACCOUNTS_PAYABLE_AND_ACCRUED_E

ACCOUNTS PAYABLE AND ACCRUED EXPENSES, NET	3 Months Ended
	Mar. 31, 2015
Accounts Payable and Accrued Liabilities, Current [Abstract]
ACCOUNTS PAYABLE AND ACCRUED EXPENSES, NET	ACCOUNTS PAYABLE AND ACCRUED EXPENSES, NET
	The following table summarizes the significant components of accounts payable and accrued expenses, net:
		March 31, 2015		December 31, 2014
		(In thousands)
	Below market tenant leases, net (Note 2)	$	41,316	$	43,292
	Construction payable	20,671		16,272
	Accounts payable and accrued expenses	10,480		9,901
	Accrued dividend	10,478		9,885
	Accrued real estate taxes	9,317		9,028
	Accrued interest	6,543		4,380
	Deferred income	4,611		5,471
	Asset retirement obligation liability	4,515		4,545
	Accrued payroll and other employee liabilities	2,852		9,352
	Tenants and other deposits	1,369		1,336
	Other	1,292		514
	Total accounts payable and accrued expenses, net	$	113,444	$	113,976

DERIVATIVES_DERIVATIVES

DERIVATIVES DERIVATIVES	3 Months Ended
	Mar. 31, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVES	DERIVATIVES
	Cash Flow Hedges of Interest Rate Risk
	The Company records its derivative instruments in its Consolidated Balance Sheets at fair value. The accounting for changes in the fair value of a derivative depends on the intended use of the derivative, whether the derivative has been designated as a hedge and, if so, whether the hedge has met the criteria necessary to apply hedge accounting.
	The Company's objectives in using interest rate derivatives are to add stability to interest expense and to manage its exposure to interest rate movements. To accomplish these objectives, the Company primarily uses interest rate swaps and caps as part of its interest rate risk management strategy. Interest rate swaps designated as cash flow hedges involve the receipt of variable-rate amounts from the counterparty in exchange for the Company making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. Interest rate caps designated as cash flow hedges involve the receipt of variable-rate amounts from a counterparty if interest rates rise above the strike rate on the contract in exchange for an up-front premium.
	The effective portion of changes in fair value of derivatives designated and that qualify as cash flow hedges is recorded in accumulated other comprehensive income (loss) ("AOCI/L") and is subsequently reclassified into earnings in the period in which the hedged forecasted transactions affect earnings. During the three months ended March 31, 2015 and March 31, 2014, such derivatives were used to hedge the variable cash flows associated with existing variable-rate borrowings. The ineffective portion of the change in fair value of the derivatives is recognized in earnings. During the three months ended March 31, 2015 and March 31, 2014, the Company recorded no hedge ineffectiveness for the interest rate swap.
	Amounts reported in AOCI/L related to derivatives are reclassified to interest expense as interest payments are made on the Company’s variable-rate debt. As of March 31, 2015, the Company expects that an additional $0.7 million will be reclassified as an increase to interest expense over the next 12 months.
	Interest Rate Swap
	The Company entered into an interest rate swap to hedge the risk of changes in cash flows on borrowings related to the West Valley Mall in January 2014. The interest related to this loan was computed at a variable rate of LIBOR + 1.75% and the Company swapped this for a fixed rate of 1.49% plus a spread of 1.75%. The interest rate swap protects the Company from increases in the hedged cash flows attributable to increases in LIBOR. The interest rate swap matures in June 2018.
	As of March 31, 2015, the Company had the following outstanding interest rate derivative that was designated as a cash flow hedge of interest rate risk:
	Interest Rate Derivative	Number of Instruments		Notional Amount
				(in thousands)
	Interest rate swap	1		$59,000
	Non-Designated Hedges - Interest Rate Caps
	Derivatives not designated as hedges are not speculative and are used to manage the Company’s exposure to interest rate movements and other identified risks but do not meet the hedge accounting requirements. Changes in the fair value of the derivative not designated as hedges are recorded directly in earnings. For the three months ended March 31, 2015 and 2014, such amounts equaled $475 and $0.01 million, respectively. As of March 31, 2015, the Company had the following outstanding derivative that was not designated as a hedge in qualifying hedging relationships:
	Interest Rate Derivative	Number of Instruments		Notional Amount
				(in thousands)
	Interest rate cap	1		$65,095
	The table below presents the fair value of the Company’s derivative financial instruments as well as their classification on the Company's Consolidated Balance Sheets as of March 31, 2015 and December 31, 2014:
	Instrument Type	Location in consolidated balance sheets		Notional Amount				Designated Benchmark Interest Rate	Strike Rate			Fair Value at March 31, 2015				Fair Value at December 31, 2014				Maturity Date
	Derivative not designated as hedging instruments			(dollars in thousands)
	Interest Rate Cap	Prepaid expenses and other assets, net		$	65,095			One-month LIBOR	4.5	%		$	—			$	1			May-16
	Derivative designated as hedging instruments
	Pay fixed / receive variable rate swap	Accounts payable and accrued expenses, net		$	59,000			One-month LIBOR	1.49	%		$	(888	)		$	(482	)		Jun-18
	The table below presents the effect of the Company’s derivative financial instruments on the Company's Consolidated Statements of Operations and Comprehensive Income (Loss) for the three months ended March 31, 2015. The Company had no cash flow hedges during the three months ended March 31, 2014.
									Location of Losses Reclassified from OCI/L Into Earnings (Effective Portion)										Location of Gain (Loss) Recognized in Earnings (Ineffective Portion)
	Hedging Instrument	Gain (Loss) Recognized in OCI/L (Effective Portion)									Loss Recognized in Earnings (Effective Portion)										Gain Recognized in Earnings (Ineffective Portion)
		(dollars in thousands)
	Three Months Ended March 31,	2015				2014					2015				2014						2015		2014
	Pay fixed / receive variable rate swap	$	(601	)		$	(411	)	Interest expense		$	195			$	125			n.a.		$	—	$	—
	Credit Risk-Related Contingent Features
	The Company has an agreement with its derivative counterparty that contains a provision whereby if the Company defaults on any of its indebtedness, including a default whereby repayment of such indebtedness has not been accelerated by the lender, the Company could also be declared in default on its derivative obligations. The Company has not posted any collateral related to this agreement. As of March 31, 2015, the fair value of the derivative liability, which includes accrued interest but excludes any adjustment for nonperformance risk, related to this agreement was $1.0 million. If the Company had breached this provision as of March 31, 2015, it would have been required to settle its obligations under the agreement at its termination value of $1.0 million.

DISPOSITIONS_OF_REAL_ESTATE_AS

DISPOSITIONS OF REAL ESTATE ASSETS	3 Months Ended
	Mar. 31, 2015
Discontinued Operations and Disposal Groups [Abstract]
DISPOSITIONS OF REAL ESTATE ASSETS	DISPOSITIONS OF REAL ESTATE ASSETS
	In the first quarter of 2014, the Company adopted ASU 2014-08, which changed the definition and criteria of property dispositions classified as discontinued operations, on a prospective basis. As a result of applying this accounting guidance, the following dispositions were not reclassified to discontinued operations as a prior disposition was.
	The results of operations of the properties below, as well as any gain on extinguishment of debt and impairment losses related to the properties, are included in "Income from continuing operations" on the Company's Consolidated Statements of Operations and Comprehensive Income (Loss) for all periods presented, as applicable.
	The Shoppes at Knollwood Mall
	In January 2015, the Company sold The Shoppes at Knollwood Mall located in St. Louis Park, MN, for gross proceeds of $106.7 million. The mortgage debt of $35.1 million was defeased simultaneously with the sale of the property. The Company recognized a gain of $32.5 million as a result of the disposition, which is reflected in "Gain on sale of real estate assets" on the Company's Consolidated Statements of Operations and Comprehensive Income (Loss) for the three months ended March 31, 2015.
	At closing, the Company entered into a Development Agreement with the buyer to complete the redevelopment of the property. The buyer escrowed $7.9 million in funds to settle the remaining development costs incurred by the Company. The redevelopment is expected to be completed by June 30, 2015. Escrowed funds in excess of the remaining development costs will be recorded as a "Gain on sale of real estate assets" on the Company's Consolidated Statements of Operations and Comprehensive Income (Loss)in the period the development is completed and the funds are released.
	Steeplegate Mall
	In March 2015, the Company conveyed Steeplegate Mall located in Concord, NH to its mortgage lender in full satisfaction of the debt. The loan had a net outstanding balance of approximately $45.9 million. The Company recognized a $22.8 million gain related to the debt extinguishment which is reflected in "Gain on extinguishment of debt" on the Company's Consolidated Statements of Operations and Comprehensive Income (Loss) for the three months ended March 31, 2015.

INCOME_TAXES

INCOME TAXES	3 Months Ended
	Mar. 31, 2015
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES
	The Company elected to be taxed as a Real Estate Investment Trust ("REIT") beginning with the filing of its tax return for the 2011 fiscal year. As of March 31, 2015, the Company has met the requirements of a REIT and has filed its tax returns for the 2013 calendar year accordingly. Subject to its ability to meet the requirements of a REIT, the Company intends to maintain this status in future periods.
	To qualify as a REIT, the Company must meet a number of organizational and operational requirements, including requirements to distribute at least 90% of its ordinary taxable income and to either distribute capital gains to stockholders, or pay corporate income tax on the undistributed capital gains. In addition, the Company is required to meet certain asset and income tests.
	As a REIT, the Company will generally not be subject to corporate level federal income tax on taxable income that it distributes currently to its stockholders. If the Company fails to qualify as a REIT in any taxable year, it 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 the Company qualifies for tax treatment as a REIT, it may be subject to certain state and local taxes on its income or property, and to federal income and excise taxes on its undistributed taxable income.
	The Company has a subsidiary that it elected to treat as a Taxable REIT Subsidiary ("TRS"), which is subject to federal and state income taxes. For each of the three months ended March 31, 2015 and 2014, the Company incurred approximately $0.01 million and $0.02 million, respectively, in taxes associated with the TRS, which are recorded in "Provision for income taxes" on the Company's Consolidated Statements of Operations and Comprehensive Income (Loss).

COMMON_STOCK

COMMON STOCK	3 Months Ended
	Mar. 31, 2015
Equity [Abstract]
COMMON STOCK	COMMON STOCK
	On January 13, 2014, the Company issued 8,050,000 shares of common stock in an underwritten public offering at a public offering price of $19.50 per share. Net proceeds of the public offering were approximately $150.7 million after deducting the underwriting discount of $6.3 million, but before deducting offering expenses.
	Brookfield Asset Management, Inc. and its affiliates (collectively, “Brookfield”) owned approximately 33.5% of the Company's common stock as of March 31, 2015.
	Dividends
	On February 26, 2015, the Company's Board of Directors declared a first quarter common stock dividend of $0.18 per share, which was paid on April 30, 2015 to stockholders of record on April 15, 2015.
	Dividend Reinvestment and Stock Purchase Plan
	On May 12, 2014, the Company established a Dividend Reinvestment and Stock Purchase Plan ("DRIP"). Under the DRIP, the Company's stockholders may purchase additional shares of common stock by automatically reinvesting all or a portion of the cash dividends paid on their shares of common stock or by making optional cash payments, or both, at fees described in the DRIP prospectus. The DRIP commenced with the payment of the second quarter dividend which was paid on July 31, 2014 to stockholders of record on July 15, 2014. To date, the Company has purchased the shares needed to satisfy the DRIP elections in the open market. No additional shares have been issued.
	Employee Stock Purchase Plan
	On July 1, 2014, the Company commenced enrollment under its Employee Stock Purchase Plan (the "ESPP"). The ESPP was implemented to provide eligible employees of the Company and its participating subsidiaries with an opportunity to purchase common stock of the Company at a discount of 5%, through accumulated payroll deductions or other permitted contributions. The ESPP was adopted by the Company's Board of Directors on February 27, 2014 and approved by its stockholders on May 9, 2014. The first offering period commenced on August 1, 2014 and had a duration of three months, closing on October 31, 2014. The maximum number of shares of common stock that may be issued under the ESPP is 500,000 subject to adjustments under certain circumstances. As of March 31, 2015, 2,813 shares have been issued under the ESPP since the ESPP was implemented.

STOCK_BASED_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	NOTE 11                                                    STOCK BASED COMPENSATION PLANS
	Incentive Stock Plans
	On January 12, 2012, the Company adopted the Rouse Properties, Inc. 2012 Equity Incentive Plan (the "Equity Plan").
	Stock Options
	Pursuant to the Equity Plan, the Company granted stock options to certain employees of the Company.  The vesting terms of these grants are specific to the individual grant.  In general, participating employees are required to remain employed for vesting to occur (subject to certain limited exceptions).  In the event that a participating employee ceases to be employed by the Company, any options that have not vested will generally be forfeited. Stock options generally vest annually over a five year period.
	The following tables summarize stock option activity for the Equity Plan for the three months ended March 31, 2015 and 2014:
		2015				2014
		Shares		Weighted Average Exercise Price		Shares		Weighted Average Exercise Price
	Stock options outstanding at January 1,	3,313,869		$15.89		2,579,171		$15.14
	Granted	857,000		17.18		750,300		18.4
	Exercised	(34,248	)	15.11		—		—
	Forfeited	(32,209	)	17.18		(35,400	)	15.13
	Expired	—		—		—		—
	Stock options outstanding at March 31,	4,104,412		$16.16		3,294,071		$15.89
			Stock Options Outstanding (1)
	Issuance		Shares		Weighted Average Remaining Contractual Term (in years)		Weighted Average Exercise Price
	Mar-12		1,463,417		7		$14.72
	May-12		21,900		7.17		13.71
	Aug-12		36,400		7.42		13.75
	Oct-12		297,257		7.58		14.47
	Feb-13		671,400		7.92		16.48
	Feb-14		728,840		8.92		18.4
	Jul-14		28,198		9.33		17.2
	Feb-15		857,000		9.92		17.18
	Stock options outstanding at March 31, 2015		4,104,412		8.16		$16.16
	Explanatory Note:
	(1) As of March 31, 2015, 1,427,143 stock options are fully vested and are currently exercisable. As of March 31, 2015, the intrinsic value of these options was $5.1 million, and such stock options had a weighted average exercise price of $15.39 and a weighted average remaining contractual term of 7.5 years.
	The Company recognized $0.5 million and $0.4 million in compensation expense related to the stock options for the three months ended March 31, 2015 and 2014, respectively, which is recorded in "General and administrative" on the Company's Consolidated Statements of Operations and Comprehensive Income (Loss).
	Restricted Stock
	Pursuant to the Equity Plan, the Company granted restricted stock to certain employees and non-employee directors.  The vesting terms of these grants are specific to the individual grant, and are generally three to four year periods. In general, participating employees are required to remain employed for vesting to occur (subject to certain limited exceptions).  In the event that a participating employee ceases to be employed by the Company, any shares that have not vested will generally be forfeited. Dividends are paid on restricted stock and are not returnable, even if the underlying stock does not ultimately vest.
	The following table summarizes restricted stock activity for the three months ended March 31, 2015 and 2014:
		2015				2014
		Shares		Weighted Average Grant Date Fair Value		Shares		Weighted Average Grant Date Fair Value
	Non-vested restricted stock grants outstanding at January 1,	205,731		$15.45		278,617		$14.85
	Granted	53,550		17.18		42,489		18.4
	Forfeited	—		—		—		—
	Canceled	—		—		—		—
	Vested	(113,342	)	14.99		(101,464	)	14.95
	Non-vested restricted stock grants outstanding at March 31,	145,939		$16.21		219,642		$15.49
	The weighted average remaining contractual term (in years) of granted, non-vested restricted stock awards as of March 31, 2015 was 1.3 years.
	The Company recognized $0.4 million in compensation expense related to the restricted stock for each of the three months ended March 31, 2015 and 2014, respectively, which is recorded in "General and administrative" on the Company's Consolidated Statements of Operations and Comprehensive Income (Loss).
	Other Disclosures
	As of March 31, 2015, there was $9.8 million of total unrecognized compensation expense related to all nonvested options and restricted stock grants. Of this total, $3.0 million in 2015, $3.2 million in 2016, $1.8 million in 2017, $1.1 million in 2018, $0.6 million in 2019 and $0.1 million in 2020, will be recognized, respectively, in "General and administrative" on the Company's Consolidated Statements of Operations and Comprehensive Income (Loss).  These amounts may be impacted by future grants, changes in forfeiture estimates or vesting terms, and actual forfeiture rates differing from estimated forfeiture rates.

NONCONTROLLING_INTEREST

NON-CONTROLLING INTEREST	3 Months Ended
	Mar. 31, 2015
Noncontrolling Interest [Abstract]
NON-CONTROLLING INTEREST	NON-CONTROLLING INTEREST
	The non-controlling interest on the Company's Consolidated Balance Sheets represents Series A Cumulative Non-Voting Preferred Stock ("Preferred Shares") of Rouse Holdings, Inc. ("Holdings"), a subsidiary of Rouse, and the interest in the Mall at Barnes Crossing entities.
	Holdings issued 111 Preferred Shares at a par value of $1,000 per share to third parties on June 29, 2012. The Preferred Shareholders are entitled to a cumulative preferential annual cash dividend of 12.5%. These Preferred Shares may only be redeemed at the option of Holdings for $1,000 per share plus all accrued and unpaid dividends. Furthermore, in the event of a voluntary or involuntary liquidation of Holdings, the Preferred Shareholders are entitled to a liquidation preference of $1,000 per share plus all accrued and unpaid dividends. The Preferred Shares are not convertible into or exchangeable for any property or securities of Holdings.
	On August 29, 2014, the Company purchased a 51% interest in three limited liability companies which together own and operate the Mall at Barnes Crossing, the Market Center, a strip shopping center located adjacent to the property, and various vacant land parcels associated with the development (collectively referred to as "The Mall at Barnes Crossing"). The Company determined it holds the controlling interest in the The Mall at Barnes Crossing. As a result, the joint venture is presented on the Company's Consolidated Financial Statements as of March 31, 2015 and December 31,2014 and for the three months ended March 31, 2015 on a consolidated basis, with the interests of the third parties reflected as a non-controlling interest.
	In connection with the acquisition, the Company formed a joint venture with the other interest holders in the properties. Pursuant to the joint venture arrangements, the Company has the exclusive authority to manage the business of the joint venture, except for certain actions (e.g., disposing of the properties and incurring debt under certain circumstances) that would require the consent of a third-party partner.  At any time after August 29, 2017 (or earlier under certain circumstances), the Company will have the right to purchase its partners’ interests in the joint venture at a purchase price generally equal to their fair market value (the “Call Price”). Consideration paid to our partners for their interests in the joint venture may, under certain circumstances, be in the form of shares of our common stock and/or common units (“Units”) of our operating partnership, Rouse Properties, LP (the “Operating Partnership”).  If the consideration for the Call Price includes Units, the Company, the Operating Partnership and a third-party partner will enter into a tax protection agreement that will provide for indemnification of such partner under certain circumstances against certain tax liabilities incurred by such partner, if such liabilities result from a transaction involving a taxable disposition of The Mall at Barnes Crossing or the failure to offer to such partner the opportunity to guarantee certain indebtedness.

EARNINGS_PER_SHARE_Notes

EARNINGS PER SHARE (Notes)	3 Months Ended
	Mar. 31, 2015
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE
	Earnings per share ("EPS") is calculated using the two class method, which allocates earnings among common stock and participating securities to calculate EPS when an entity's capital structure includes either two or more classes of common stock or common stock and participating securities. Unvested share-based payment awards that contain non-forfeitable rights to dividends or dividend equivalents (whether paid or unpaid) are participating securities. As such, unvested restricted stock of the Company are considered participating securities. The dilutive effect of options and their equivalents (including fixed awards and nonvested stock issued under stock-based compensation plans), is computed using the “treasury” method.
	The following table presents a reconciliation of net income (loss) used in basic and diluted EPS calculations ($ in thousands, except per share data):
		Three Months Ended March 31,
		2015			2014
	Net income (loss) attributable to Rouse Properties Inc.	$	44,407		$	(4,425	)
	Net loss attributable to non-controlling interests	(6		)	—
	Income (loss) attributable to Rouse Properties Inc. and allocable to common shareholders and Participating Security Holders	$	44,401		$	(4,425	)
	Earnings allocable to common shares:
	Numerator for basic and diluted earnings per share
	Net income (loss) attributable to Rouse Properties Inc. and allocable to common shareholders	$	43,759		$	(4,425	)
	Denominator for basic and diluted earnings per share
	Weighted average common shares outstanding - basic	57,603,340			56,129,522
	Add: effect of assumed shares issued under treasury stock method for stock options and restricted shares	683,916			—
	Weighted average common shares outstanding - diluted	58,287,256			56,129,522
	Basic and Diluted earnings per share
	Net income (loss) attributable to Rouse Properties Inc. and allocable to common shareholders- basic	$	0.76		$	(0.08	)
	Net income (loss) attributable to Rouse Properties Inc. and allocable to common shareholders- diluted	$	0.75		$	(0.08	)
	Earnings allocable to Participating Security Holders
	Numerator for basic and diluted earnings per share
	Net income (loss) attributable to Rouse Properties Inc and allocable to Participating Security Holders	$	519		$	—
	Denominator for basic and diluted earnings per share
	Weighted average common shares outstanding - basic	57,603,340			56,129,522
	Add: effect of assumed shares issued under treasury stock method for stock options and restricted shares	683,916
	Weighted average common shares outstanding - diluted	58,287,256			56,129,522
	Basic and Diluted earnings per share
	Net income (loss) attributable to Rouse Properties Inc. and allocable to common shareholders- basic	$	0.01		$	—
	Net income (loss) attributable to Rouse Properties Inc. and allocable to common shareholders- diluted	$	0.01		$	—

RELATED_PARTY_TRANSACTIONS

RELATED PARTY TRANSACTIONS	3 Months Ended
	Mar. 31, 2015
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS
	Office Lease with Brookfield
	Upon its spin-off from GGP, the Company assumed a 10-year lease agreement with Brookfield, as landlord, for office space for its corporate office in New York City. Costs associated with the office lease were $0.3 million for each of the three months ended March 31, 2015 and 2014. There were no outstanding amounts payable as of March 31, 2015 and December 31, 2014.
	Business Information and Technology Costs
	As part of the spin-off from GGP, the Company commenced the development of its initial information technology platform ("Brookfield Platform"). The development of the Brookfield Platform required us to purchase, design and create various information technology applications and infrastructure. Brookfield Corporate Operations, LLC ("BCO") had been engaged to assist in the project development and to procure the various applications and infrastructure of the Company. As of March 31, 2015, the Company had approximately $8.3 million of infrastructure costs which were capitalized in "Buildings and equipment" on the Company's Consolidated Balance Sheets. As of March 31, 2015, no costs were outstanding and payable.
	The Company was also required to pay a monthly information technology services fee to BCO. Approximately $0.5 million and $0.8 million in costs were incurred for the three months ended March 31, 2015 and 2014, respectively. As of March 31, 2015 and December 31, 2014, $0.5 million and $0.3 million of costs were outstanding and payable, respectively.
	Currently, the Company is undertaking the development of its own information technology platform ("Rouse Platform"). As of March 31, 2015, the Company had incurred approximately $9.8 million of infrastructure costs, of which $8.5 million was incurred for the Rouse Platform. As of March 31, 2015, $7.0 million is included in "Buildings and equipment" on the Company's Consolidated Balance Sheets that is related to the purchase, design and implementation of various technology applications and infrastructure of the Rouse Platform. The remaining $1.5 million is included in "Other" on the Company's Consolidated Statements of Operations and Comprehensive Income (Loss) that is related to the planning, scoping and data governance of developing the Rouse Platform. As of March 31, 2015 and December 31, 2014, $0.3 million of costs were outstanding and payable.
	In connection with the development of the Rouse Platform, the Company accelerated the remaining depreciation of the costs related to the initial move to the Brookfield Platform resulting in additional depreciation expense of $1.3 million for the three months ended March 31, 2015, which is included in "Depreciation and amortization" on the Company's Consolidated Statements of Operations and Comprehensive Income (Loss).
	Financial Service Center
	During 2013, the Company engaged BCO's financial service center to manage certain administrative services of Rouse, such as accounts payable and receivable, lease administration, and other similar types of services. Approximately $0.03 million and $0.8 million in costs were incurred for the three months ended March 31, 2015 and 2014, respectively. As of March 31, 2015 and December 31, 2014, there were $0.2 million outstanding and payable.
	Demand Deposit from Brookfield U.S. Holdings
	In August 2012, the Company entered into an agreement with Brookfield U.S. Holdings ("U.S. Holdings") to place funds into an interest bearing account which earns interest at LIBOR plus 1.05% per annum. The demand deposit was secured by a note from U.S. Holdings and is guaranteed by Brookfield Asset Management Inc. The demand deposit had an original maturity of February 14, 2013 and was extended to November 14, 2014. However, the Company may have demanded the funds earlier by providing U.S. Holdings with three days notice. The Company earned approximately $0.2 million in interest income for the three months ended March 31, 2014. As of the year ended December 31, 2014, the agreement has been terminated.

SUBSEQUENT_EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	Mar. 31, 2015
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS
	On April 30, 2015, the Company conveyed its interest in Collin Creek Mall located in Plano, TX, to its mortgage lender in full satisfaction of the debt.
	On May 04, 2015, the Company's Board of Directors declared a second quarter common stock dividend of $0.18 per share which will be paid on July 31, 2015 to stockholders of record on July 15, 2015.

SUMMARY_OF_SIGNIFICANT_ACCOUNT1

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2015
Accounting Policies [Abstract]
Properties	Properties
	Acquisition accounting was applied to real estate assets within the Rouse portfolio either when GGP emerged from bankruptcy in November 2010 or upon any subsequent acquisition. After acquisition accounting is applied, the real estate assets are carried at their cost basis less accumulated depreciation. Real estate taxes and interest costs incurred during development periods are capitalized. Capitalized interest costs are based on qualified expenditures and interest rates in place during the development period. Capitalized real estate taxes, interest and interest related costs are amortized over lives which are consistent with the developed assets.
	Pre-development costs, which generally include legal and professional fees and other directly-related third party costs, are capitalized as part of the property being developed. In the event a development is no longer deemed to be probable, the costs previously capitalized are expensed.
	Tenant improvements, either paid directly or in the form of construction allowances paid to tenants, are capitalized and depreciated over the shorter of the useful life or applicable lease term. Maintenance and repair costs are expensed when incurred. Expenditures for significant betterments and improvements are capitalized. In leasing tenant space, the Company may provide funding to the lessee through a tenant allowance. In accounting for a tenant allowance, the Company determines whether the allowance represents funding for the construction of leasehold improvements and evaluates the ownership of such improvements. If the Company is considered the owner of the leasehold improvements for accounting purposes, it capitalizes the amount of the tenant allowance and depreciates it over the shorter of the useful life of the leasehold improvements or the related lease term. If the tenant allowance represents a payment for a purpose other than funding leasehold improvements, or in the event that the Company is not considered the owner of the improvements for accounting purposes, the allowance is capitalized as a lease incentive and is recognized over the lease term as a reduction of rental revenue on a straight-line basis.
	Depreciation or amortization expense is computed using the straight-line method based upon the following estimated useful lives:
		Years
	Buildings and improvements	40
	Equipment and fixtures	10-May
	Tenant improvements	Shorter of useful life or applicable lease term
Impairment	Impairment
	Operating properties and intangible assets
	Accounting for the impairment or disposal of long-lived assets requires that if impairment indicators exist and the undiscounted cash flows expected to be generated by an asset are less than its carrying amount, an impairment provision should be recorded to write down the carrying amount of such asset to its fair value. The Company reviews all real estate assets 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 and occupancy percentages, high loan to value ratios, and carrying values in excess of the fair values. Impairment indicators for pre-development costs, which are typically costs incurred during the beginning stages of a potential development and developments in progress, are assessed by project and include, but are not limited to, significant changes to the Company’s plans with respect to the project, significant changes in projected completion dates, revenues or cash flows, development costs, market factors and sustainability of development projects.
	If an indicator of potential impairment exists, the asset is tested for recoverability by comparing its carrying amount to the estimated future undiscounted cash flows. The cash flow estimates used both for determining recoverability and estimating fair value are inherently judgmental and reflect current and projected trends in rental, occupancy and capitalization rates, and estimated holding periods for the applicable assets. Although the estimated fair value of certain assets may exceed the carrying amount, 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 a provision for impairment is determined to be necessary, the excess of the carrying amount of the asset over its estimated fair value is expensed to operations. The adjusted carrying amount, which represents the new cost basis of the asset, is depreciated over the remaining useful life of the asset.
Intangible Assets and Liabilities	The gross asset balances of the in-place value of tenant leases are included in "Buildings and Equipment" on the Company's Consolidated Balance Sheets. Acquired in-place tenant leases are amortized over periods that approximate the related lease terms. The above-market tenant leases and below-market ground leases are included in "Prepaid expenses and other assets, net", and below-market tenant leases are included in "Accounts payable and accrued expenses, net" as detailed in Notes 4 and 6, respectively.
Cash and Cash Equivalents	Cash and Cash Equivalents
	The Company considers all demand deposits with a maturity of three months or less, at the date of purchase, to be cash equivalents.
Restricted Cash	Restricted Cash
	Restricted cash consists of security deposits and cash escrowed under loan agreements for debt service, real estate taxes, property insurance, tenant improvements, capital renovations and capital improvements.
Interest Rate Hedging Instruments	Interest Rate Hedging Instruments
	The Company recognizes its derivative financial instruments in either "Prepaid expenses and other assets, net" or "Accounts payable and accrued expenses, net", as applicable, in the Consolidated Balance Sheets and measures those instruments at fair value. The accounting for changes in fair value (i.e., gain or loss) of a derivative depends on whether it has been designated and qualifies as part of a hedging relationship, and further, on the type of hedging relationship. To qualify as a hedging instrument, a derivative must pass prescribed effectiveness tests, performed quarterly using both quantitative and qualitative methods. The Company entered into a derivative agreement as of March 31, 2014 that qualifies as a hedging instrument and was designated, based upon the exposure of being hedged, as a cash flow hedge. The fair value of this cash flow hedge as of March 31, 2015 was $0.9 million and is included in "Accounts payable and accrued expenses, net" in the Company's Consolidated Balance Sheets. The fair value of the Company's interest rate hedge is classified as Level 2 in the fair value measurement table. To the extent they are effective, changes in fair value of cash flow hedges are reported in "Accumulated other comprehensive income (loss)" ("AOCI/L") and reclassified into earnings in the same period or periods during which the hedged item affects earnings. The ineffective portion of the hedge, if any, is recognized in current earnings during the period of change in fair value. The gain or loss on the termination of an effective cash flow hedge is reported in AOCI/L and reclassified into earnings in the same period or periods during which the hedged item affects earnings. The Company also assesses the credit risk that the counterparty will not perform according to the terms of the contract.
Revenue Recognition and Related Matters	Revenue Recognition and Related Matters
	Minimum rent revenues are recognized on a straight-line basis over the terms of the related leases. Minimum rent revenues also include amounts collected from tenants to allow the termination of their leases prior to their scheduled expiration dates as well as the amortization related to above and below-market tenant leases on acquired properties and tenant inducements. Minimum rent revenues also includes percentage rents in lieu of minimum rent from those leases where the Company receives a percentage of tenant revenues.
	The following is a summary of amortization of straight-line rent, lease termination income, net amortization related to above and below-market tenant leases, amortization of tenant inducements, and percentage rent in lieu of minimum rent for the three months ended March 31, 2015 and 2014:
			Three Months Ended
			March 31,
			2015				2014
			(In thousands)
	Straight-line rent amortization		$	(42	)		$	625
	Lease termination income		433				—
	Net amortization of above and below-market tenant leases		(2,459		)		(3,757		)
	Amortization of lease inducement		(8		)		—
	Percentage rent in lieu of minimum rent		1,597				1,607
	Straight-line rent receivables represent the current net cumulative rents recognized prior to when billed and collectible, as provided by the terms of the leases. The following is a summary of straight-line rent receivables, which are included in "Accounts receivable, net," in the Company's Consolidated Balance Sheets and are reduced for allowances for doubtful accounts:
		March 31, 2015				December 31, 2014
		(In thousands)
	Straight-line rent receivables, net	$	13,893			$	14,431
	The Company provides 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. The Company also evaluates the probability of collecting future rent which is recognized currently under a straight-line methodology. This analysis considers the long term nature of the Company's leases, as a certain portion of the straight-line rent currently recognizable will not be billed to the tenant until future periods. The Company's experience relative to unbilled straight-line rent receivable is that a certain portion of the amounts recorded as straight-line rental revenue are never collected from (or billed to) tenants due to early lease terminations. For that portion of the recognized deferred rent that is not deemed to be probable of collection, an allowance for doubtful accounts has been provided. Accounts receivable are shown net of an allowance for doubtful accounts of $3.8 million and $3.4 million as of March 31, 2015 and December 31, 2014, respectively.
	Tenant recoveries are recoveries from tenants that 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 in which the related costs are incurred. The Company makes certain assumptions and judgments in estimating the reimbursements at the end of each reporting period. The Company does not expect the actual results to materially differ from the estimated reimbursement.
	Overage rent is paid by a tenant when its sales exceed an agreed-upon minimum amount. Overage rent is calculated by multiplying the sales in excess of the minimum amount by a percentage defined in the lease. Overage rent is recognized on an accrual basis once tenant sales exceed contractual tenant lease thresholds.
	Other revenues generally consist of amounts earned by the Company for vending, advertising, and marketing revenues earned at the Company's malls and is recognized on an accrual basis over the related service period.
Loss Per Share	er Share
	Basic net income (loss) per share is computed by dividing the net income (loss) applicable to common stockholders by the weighted-average number of shares of common stock outstanding for the period. Diluted net income per share
Fair Value	Fair Value
	The objective of fair value is to determine the price that would be received upon the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (the exit price).  GAAP establishes a fair value hierarchy that prioritizes observable and unobservable inputs used to measure fair value:
	•	Level 1 — quoted prices (unadjusted) in active markets that are accessible at the measurement date for assets or liabilities;
	•	Level 2 — observable prices that are based on inputs not quoted in active markets, but corroborated by market data; and
	•	Level 3 — unobservable inputs that are used when little or no market data is available.
	The fair value hierarchy gives the highest priority to Level 1 inputs and the lowest priority to Level 3 inputs. In determining fair value, the Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible, as well as consider counterparty credit risk in our assessment of fair value.  Considerable judgment is necessary to interpret Level 2 and 3 inputs in determining the fair value of our financial and non-financial assets and liabilities.  Accordingly, the Company's fair value estimates, which are made at the end of each reporting period, may be different than the amounts that may ultimately be realized upon the sale or disposition of these assets.
	The following table sets forth information regarding the Company's financial and non-financial instruments that are measured at fair value on a recurring and non-recurring basis by the above categories:
				Total Fair Value Measurement				Quoted Price in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)
				(In thousands)
	31-Mar-15
	Recurring basis:
	Assets:
	Interest rate cap			$	—			$	—	$	—		$	—
	Liabilities:
	Interest rate swap			$	(888	)		$	—	$	(888	)	$	—
	Non-recurring basis:
	Investment in Real Estate (1)			$	48,528			$	—	$	—		$	48,528
	31-Dec-14
	Recurring basis:
	Assets:
	Interest rate cap			$	1			$	—	$	1		$	—
	Liabilities:
	Interest rate swap			$	(482	)				$	(482	)	$	—
	Non-recurring basis:
	Investment in Real Estate (1)			$	74,237			$	—	$	—		$	74,237
	Explanatory Note:
	(1) The carrying value includes each mall's respective land, building, and in-place lease value.
	The following is a reconciliation of the carrying value of properties that were impaired and disposed of during the three months ended March 31, 2015:
			Collin Creek Mall (1)(2)				Steeplegate Mall (3)
			(In thousands)
	Beginning carrying value, January 1, 2015		$	51,767			$	22,659
	Capital expenditures		75				—
	Depreciation and amortization expense		(414		)		(219		)
	Loss on impairment of real estate		(2,900		)		—
	Disposition of real estate asset		—				(22,440		)
	Ending carrying value, March 31, 2015		$	48,528			$	—
	Explanatory Notes:
	(1) The carrying value includes the mall's respective land, building, in-place lease value, and above and below market lease values.
	(2) The fair valued derermined using a terminal capitalization rate as of March 31, 2015.
	(3) The property was conveyed to its mortgage lender during the three months ended March 31, 2015.
	The Company estimates fair value relating to impairment assessments utilizing a direct capitalization rate on forecasted net operating income or discounted cash flows that include all projected cash inflows and outflows over a specific holding period. 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. The determination of which method to use is based on expected market conditions specific to the property being assessed. Based upon these inputs, the Company determined that its valuation of a property using a discounted cash flow model was classified within Level 3 of the fair value hierarchy.
	The following table sets forth quantitative information about the unobservable inputs of the Company's Level 3 real estate, which is recorded at fair value as of March 31, 2015:
	Unobservable Quantitative Inputs
	Terminal Capitalization Rate	9.5	%
	The Company uses interest rate swaps and caps to mitigate the effect of interest rate movements on its variable-rate debt. The Company has one interest rate swap and one interest rate cap as of March 31, 2015 and the interest rate swap qualified for hedge accounting. The interest rate swap has met the effectiveness test criteria since inception and changes in its fair value are reported in "Other comprehensive income/(loss)" ("OCI/L") and are reclassified into earnings in the same period or periods during which the hedged item affects earnings. The interest rate cap did not qualify for hedge accounting and changes in its fair value are reported in earnings during the period incurred. The fair value of the Company's interest rate hedges, classified under Level 2, are determined based on prevailing market data for contracts with matching durations, current and anticipated LIBOR information, consideration of the Company's credit standing, credit risk of the counterparty, and reasonable estimates about relevant future market conditions. See Note 7 for additional information regarding the Company's interest rate hedging instruments.
	The Company's financial instruments are short term in nature and as such their fair values approximate their carrying amount in our Consolidated Balance Sheets except for debt. As of March 31, 2015 and December 31, 2014, management’s estimates of fair value are presented below. The Company estimated the fair value of the debt by using a future discounted cash flow analysis based on the use and weighting of multiple market inputs. As a result of the frequency and availability of market data, the inputs used to measure the estimated fair value of debt are Level 3 inputs. The primary sensitivity in these calculations is based on the selection of appropriate discount rates.
Deferred Expenses	Deferred Expenses
Asset Retirement Obligations	Asset Retirement Obligations
	The Company evaluates any potential asset retirement obligations, including those related to disposal of asbestos containing materials and environmental remediation liabilities. The Company recognizes the fair value of such obligations in the period incurred if a reasonable estimate of fair value can be determined.
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, recoverable amounts of receivables, impairment of long-lived assets, valuation of hedging instruments and fair value of debt. Actual results could differ from these and other estimates.
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Pronouncements
	In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Updated ("ASU") ASU 2014-09 “Revenue from Contracts with Customers (Topic 606).” This topic provides for five principles which should be followed to determine the appropriate amount and timing of revenue recognition for the transfer of goods and services to customers. The principles in this ASU should be applied to all contracts with customers regardless of industry. The amendments in this ASU are effective for reporting periods beginning after December 15, 2016, with two transition methods of adoption allowed. Early adoption for reporting periods prior to December 15, 2016 is not permitted. On April 1, 2015, the FASB board voted to postpone the effective date of the new revenue recognition standard by one year.  The ASU is now effective for the reporting periods after December 15, 2017. The Company is evaluating the financial statement impact of the guidance in this ASU and determining which transition method we will utilize.
	In August 2014, the FASB issued ASU 2014-15, “Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern." This topic provides guidance on management’s responsibility to evaluate whether there is substantial doubt about a company’s ability to continue as a going concern and requires related footnote disclosures. The amendments in this ASU are effective for the annual period after December 15, 2016, and for annual and interim periods thereafter. Early adoption is permitted. The Company is currently evaluating the impact of the guidance in this ASU.
	In April 2015, the FASB issued ASU 2015-03, "Simplifying the Presentation of Debt Issuance Costs", which requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of the related debt liability. For public business entities, the ASU is effective for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. Entities should apply the new guidance on a retrospective basis, wherein the balance sheet of each individual period presented should be adjusted to reflect the period-specific effects of applying the new guidance. The Company is currently evaluating the impact of the guidance in this ASU.

SUMMARY_OF_SIGNIFICANT_ACCOUNT2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	3 Months Ended
	Mar. 31, 2015
Accounting Policies [Abstract]
Schedule of estimated useful lives	Depreciation or amortization expense is computed using the straight-line method based upon the following estimated useful lives:
		Years
	Buildings and improvements	40
	Equipment and fixtures	10-May
	Tenant improvements	Shorter of useful life or applicable lease term
Schedule of intangible assets and liabilities	The following table summarizes our intangible assets and liabilities as a result of the application of acquisition accounting:
		Gross Asset				Accumulated				Net Carrying
		(Liability)				(Amortization)/				Amount
						Accretion
		(In thousands)
	31-Mar-15
	Tenant leases:
	In-place value	$	87,361			$	(36,015	)		$	51,346
	Above-market	100,139				(53,898		)		46,241
	Below-market	(62,150		)		20,834				(41,316		)
	Ground leases:
	Below-market	3,682				(575		)		3,107
	31-Dec-14
	Tenant leases:
	In-place value	$	97,745			$	(43,481	)		$	54,264
	Above-market	109,862				(58,866		)		50,996
	Below-market	(65,476		)		22,184				(43,292		)
	Ground leases:
	Below-market	3,682				(537		)		3,145
Schedule of Finite-Lived Intangible Assets	Future amortization/accretion of these intangibles is estimated to decrease the Company's net income as follows:
	Year		In-place lease intangibles				Above/(below) market leases, net
			(In thousands)
	Remainder of 2015		$	13,735			$	5,286
	2016		12,059				5,054
	2017		7,149				3,179
	2018		4,695				739
	2019		3,296				(781		)
	2020		2,677				(1,110		)
Summary of amortization of straight-line rent, lease termination income, net amortization related to above and below-market tenant leases, amortization of tenant inducements, and percentage rent in lieu of minimum rent	The following is a summary of amortization of straight-line rent, lease termination income, net amortization related to above and below-market tenant leases, amortization of tenant inducements, and percentage rent in lieu of minimum rent for the three months ended March 31, 2015 and 2014:
			Three Months Ended
			March 31,
			2015				2014
			(In thousands)
	Straight-line rent amortization		$	(42	)		$	625
	Lease termination income		433				—
	Net amortization of above and below-market tenant leases		(2,459		)		(3,757		)
	Amortization of lease inducement		(8		)		—
	Percentage rent in lieu of minimum rent		1,597				1,607
Schedule of straight-line rent receivables	The following is a summary of straight-line rent receivables, which are included in "Accounts receivable, net," in the Company's Consolidated Balance Sheets and are reduced for allowances for doubtful accounts:
		March 31, 2015				December 31, 2014
		(In thousands)
	Straight-line rent receivables, net	$	13,893			$	14,431
Schedule of weighted-average shares outstanding
Schedule of assets and liabilities measured at fair value on a recurring and non-recurring basis	The following table sets forth information regarding the Company's financial and non-financial instruments that are measured at fair value on a recurring and non-recurring basis by the above categories:
				Total Fair Value Measurement				Quoted Price in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
				(In thousands)
	31-Mar-15
	Recurring basis:
	Assets:
	Interest rate cap			$	—			$	—			$	—			$	—
	Liabilities:
	Interest rate swap			$	(888	)		$	—			$	(888	)		$	—
	Non-recurring basis:
	Investment in Real Estate (1)			$	48,528			$	—			$	—			$	48,528
	31-Dec-14
	Recurring basis:
	Assets:
	Interest rate cap			$	1			$	—			$	1			$	—
	Liabilities:
	Interest rate swap			$	(482	)						$	(482	)		$	—
	Non-recurring basis:
	Investment in Real Estate (1)			$	74,237			$	—			$	—			$	74,237
Schedule of Reconciliation of Carrying Value of Properties	The following is a reconciliation of the carrying value of properties that were impaired and disposed of during the three months ended March 31, 2015:
			Collin Creek Mall (1)(2)				Steeplegate Mall (3)
			(In thousands)
	Beginning carrying value, January 1, 2015		$	51,767			$	22,659
	Capital expenditures		75				—
	Depreciation and amortization expense		(414		)		(219		)
	Loss on impairment of real estate		(2,900		)		—
	Disposition of real estate asset		—				(22,440		)
	Ending carrying value, March 31, 2015		$	48,528			$	—
	Explanatory Notes:
	(1) The carrying value includes the mall's respective land, building, in-place lease value, and above and below market lease values.
Schedule of quantitative information about the unobservable inputs of the Company's Level 3 real estate	The following table sets forth quantitative information about the unobservable inputs of the Company's Level 3 real estate, which is recorded at fair value as of March 31, 2015:
	Unobservable Quantitative Inputs
	Terminal Capitalization Rate	9.5	%
Schedule of fair value of financial instruments	The primary sensitivity in these calculations is based on the selection of appropriate discount rates.
		March 31, 2015								December 31, 2014
		Carrying Amount				Estimated Fair				Carrying Amount				Estimated Fair
						Value								Value
		(In thousands)
	Fixed-rate debt	$	1,220,430			$	1,231,948			$	1,249,195			$	1,248,928
	Variable-rate debt	325,095				326,916				335,304				336,791
	Total mortgages, notes and loans payable, net	$	1,545,525			$	1,558,864			$	1,584,499			$	1,585,719
Summary of deferred lease and financing costs
		Gross Asset				Accumulated				Net Carrying
						Amortization				Amount
		(In thousands)
	31-Mar-15
	Deferred lease costs	$	53,582			$	(13,847	)		$	39,735
	Deferred financing costs	16,753				(6,108		)		10,645
	Total	$	70,335			$	(19,955	)		$	50,380
	31-Dec-14
	Deferred lease costs	$	55,647			$	(14,683	)		$	40,964
	Deferred financing costs	19,151				(7,504		)		11,647
	Total	$	74,798			$	(22,187	)		$	52,611

ACQUISITIONS_Acquisitions_Tabl

ACQUISITIONS Acquisitions (Tables)	3 Months Ended
	Mar. 31, 2015
Business Combinations [Abstract]
Pro Forma Information
			Three months ended March 31,
			2015				2014
			As Adjusted (Unaudited)
			(In thousands, except per share amounts)
	Total revenues		$	75,195			$	69,741
	Net loss		44,385				(4,473		)
	Net income (loss) per share - basic		$	0.77			$	(0.08	)
	Net income (loss) per share - diluted		$	0.76			$	(0.08	)
	Weighted average shares - basic		57,603,340				56,129,522
	Weighted average shares - diluted		58,287,256				56,129,522
Schedule of Acquistions	The following table presents the Company's acquisitions as of March 31, 2015 and December 31, 2014:
		Date Acquired		Property Name		Location		Square Footage Acquired		Purchase Price
	2015 Acquisitions									(In thousands)
		1/28/15		Mt. Shasta Mall (1)(2)		Redding, CA		521,000		$	49,000
						2015 Acquisitions Total		521,000		$	49,000
	2014 Acquisitions
		5/22/14		Bel Air Mall (1)(3)		Mobile, AL		1,004,439		$	131,917
		8/29/14		The Mall at Barnes Crossing (4)		Tupelo, MS		736,607		98,850
						2014 Acquisitions Total		1,741,046		$	230,767
	Explanatory Notes:
	(1) Rouse acquired a 100% interest in the mall.
	(2)	The Company closed on a new $31.9 million non-recourse mortgage loan that bears interest at 4.19%, matures in March 2025, is interest only for the first three years and amortizes over 30 years, thereafter.
	(3) The Company assumed an existing $112.5 million non-recourse mortgage loan with the acquisition. The loan bears interest at a fixed rate of 5.30%, amortizes on a 30 year schedule, and matures in December 2015.
	(4) Rouse acquired a 51% controlling interest in the mall and related properties. In conjunction with the closing of this transaction, the Company closed on a new $67.0 million non-recourse mortgage loan that bears interest at a fixed rate of 4.29%, matures in September 2024, is interest only for the first three years and amortizes on a 30 year schedule thereafter. See Note 12 for further details.
	The following table presents certain additional information regarding the Company's acquisitions as of March 31, 2015 and December 31, 2014:
		Property Name		Land				Building and Improvements			Acquired Lease Intangibles		Acquired Above Market Lease Intangibles		Acquired Below Market Lease Intangibles			Other
	2015 Acquisitions			(In thousands)
		Mt. Shasta Mall		$	7,809			$	38,008		$	3,779	$	915	$	(1,813	)	$	302
		Total		$	7,809			$	38,008		$	3,779	$	915	$	(1,813	)	$	302
	2014 Acquisitions
		Bel Air Mall		$	8,969			$	111,206		$	11,329	$	3,952	$	(6,889	)	$	3,350
		The Mall at Barnes Crossing		17,969				75,949			6,973		4,700		(8,100		)	1,359
		Total		$	26,938			$	187,155		$	18,302	$	8,652	$	(14,989	)	$	4,709

PREPAID_EXPENSES_AND_OTHER_ASS1

PREPAID EXPENSES AND OTHER ASSETS, NET (Tables)	3 Months Ended
	Mar. 31, 2015
Prepaid Expense and Other Assets [Abstract]
Summary of the significant components of prepaid expenses and other assets, net	The following table summarizes the significant components of prepaid expenses and other assets, net:
		March 31,		December 31,
		2015		2014
		(In thousands)
	Above-market tenant leases, net (Note 2)	$	46,241	$	50,996
	Prepaid expenses	3,145		4,755
	Below-market ground leases, net (Note 2)	3,107		3,145
	Deposits	414		1,447
	Other	1,861		2,347
	Total prepaid expenses and other assets, net	$	54,768	$	62,690

MORTGAGES_NOTES_AND_LOANS_PAYA1

MORTGAGES, NOTES AND LOANS PAYABLE (Tables)	3 Months Ended
	Mar. 31, 2015
Debt Disclosure [Abstract]
Summary of Mortgages, notes and loans payable	The following is a summary of significant property loan refinancings and acquisitions that have occurred during the three months March 31, 2015 and the year ended December 31, 2014 ($ in thousands):
	Property		Date	Balance at Date of Refinancing			Interest Rate			Balance of New Loan		New Interest Rate		Net Proceeds (1)		Maturity
	March 31, 2015:
	Mt. Shasta Mall (2)		Feb-15	$	—		—	%		$	31,850	4.19	%	$	—	Mar-25
	December 31, 2014:
	Bayshore Mall (2)		Oct-14	$	—		—	%		$	46,500	3.96	%	$	43,400	Oct-24
	The Mall at Barnes Crossing (2)		Aug-14	—			—	%		67,000		4.29	%	—		Sep-24
	Chula Vista Center (3)		Jul-14	—			—	%		70,000		4.18	%	15,000		Jul-24
	Sikes Senter (3)		Jul-14	54,618			5.2	%		—		—	%	—		—
	Bel Air Mall		May-14	—			—	%		112,505		5.3	%	—		Dec-15
	Explanatory Notes:
	(1) Net proceeds are net of closing costs.
	(2) The loan is interest-only for the first three years.
	(3) On July 1, 2014, the Company removed Chula Vista Center, located in Chula Vista, CA, from the 2013 Senior Facility collateral pool and placed a new non-recourse mortgage loan on the property. Sikes Senter, located in Wichita Falls, TX, had an outstanding mortgage loan which was repaid on July 1, 2014 from proceeds from the Chula Vista Center refinancing. Upon repayment Sikes Senter was added to the 2013 Senior Facility collateral pool with no change to the outstanding 2013 Senior Facility balance.
	In January 2015, the loan associated with The Shoppes at Knollwood with a mortgage debt balance of $35.1 million was defeased simultaneously with the sale of the property. As of December 31, 2014, the loan was shown as a component of "Liabilities of property held for sale" on the Consolidated Balance Sheets.
	In February 2015, the Company repaid the $10.4 million mortgage debt balance on Washington Park Mall which had a fixed interest rate of 5.35%.
	In February 2015, the loan associated with Vista Ridge Mall was transferred to special servicing.
	In March 2015, the loan associated with Steeplegate Mall was conveyed to the lender in full satisfaction of the debt. The loan had an outstanding balance of approximately $45.9 million.
	Mortgages, notes and loans payable are summarized as follows:
		March 31,			December 31,			Interest Rate at March 31, 2015			Scheduled Maturity Date
		2015			2014
	Fixed-rate debt:	(in thousands)
	Steeplegate Mall	$	—		$	45,858		—	%		—
	Bel Air Mall (1)	110,712			111,276			5.3			Dec-15
	Greenville Mall	40,394			40,602			5.29			Dec-15
	Vista Ridge Mall	67,824			68,537			6.87			Apr-16
	Washington Park Mall	—			10,505			—			—
	The Centre at Salisbury	115,000			115,000			5.79			May-16
	The Mall at Turtle Creek	77,379			77,648			6.54			Jun-16
	Collin Creek Mall	57,572			58,128			6.78			Jul-16
	Grand Traverse Mall	59,224			59,479			5.02			Feb-17
	West Valley Mall (2)	59,000			59,000			3.24			Sep-18
	Pierre Bossier  Mall	46,453			46,654			4.94			May-22
	Pierre Bossier Anchor	3,615			3,637			4.85			May-22
	Southland Center (MI)	75,722			76,037			5.09			Jul-22
	Chesterfield Towne Center	107,659			107,967			4.75			Oct-22
	Animas Valley Mall	49,825			50,053			4.41			Nov-22
	Lakeland Square	67,739			68,053			4.17			Mar-23
	Valley Hills Mall	66,204			66,492			4.47			Jul-23
	Chula Vista Center (1)(3)	70,000			70,000			4.18			Jul-24
	The Mall at Barnes Crossing (1)	67,000			67,000			4.29			Sep-24
	Bayshore Mall (1)	46,500			46,500			3.96			Oct-24
	Mt. Shasta Mall (1)	31,850			—			4.19			Mar-25
	Total fixed-rate debt	$	1,219,672		$	1,248,426
	Add: Market rate adjustments	759			769
		$	1,220,431		$	1,249,195
	Variable-rate debt:
	NewPark Mall (4)	$	65,094		$	65,304		3.43	%		May-17
	2013 Term Loan(5)	260,000			260,000			2.93			Nov-18
	2013 Revolver (5)	—			10,000			2.93			Nov-17
	Total variable-rate debt:	$	325,094		$	335,304
	Total mortgages, notes and loans payable, net	$	1,545,525		$	1,584,499
	Explanatory Notes:
	(1) See the significant property loan refinancings and acquisitions table below, under "—Property-Level Debt" in this Note 5 for additional information regarding the debt related to each property.
	(2) During January 2014, the Company entered into a swap transaction which fixes the interest rate on the loan for this property to 3.24%. See Note 7 for further details.
	(3) On July 1, 2014, the Company removed Chula Vista Center from the 2013 Senior Facility (as defined below) collateral pool and placed a new non-recourse mortgage loan on Chula Vista Center. Sikes Senter debt was repaid on July 1, 2014 from proceeds from the Chula Vista Center refinancing and upon repayment Sikes was added to the 2013 Senior Facility collateral pool with no change to the outstanding 2013 Senior Facility collateral pool balance.
	(4) During July 2014, the Company reduced the spread from LIBOR (30 day) plus 405 basis points to LIBOR (30 day) plus 325 basis points.
	(5) LIBOR (30 day) plus 275 basis points.

ACCOUNTS_PAYABLE_AND_ACCRUED_E1

ACCOUNTS PAYABLE AND ACCRUED EXPENSES, NET (Tables)	3 Months Ended
	Mar. 31, 2015
Accounts Payable and Accrued Liabilities, Current [Abstract]
Summary of the significant components of accounts payable and accrued expenses, net	The following table summarizes the significant components of accounts payable and accrued expenses, net:
		March 31, 2015		December 31, 2014
		(In thousands)
	Below market tenant leases, net (Note 2)	$	41,316	$	43,292
	Construction payable	20,671		16,272
	Accounts payable and accrued expenses	10,480		9,901
	Accrued dividend	10,478		9,885
	Accrued real estate taxes	9,317		9,028
	Accrued interest	6,543		4,380
	Deferred income	4,611		5,471
	Asset retirement obligation liability	4,515		4,545
	Accrued payroll and other employee liabilities	2,852		9,352
	Tenants and other deposits	1,369		1,336
	Other	1,292		514
	Total accounts payable and accrued expenses, net	$	113,444	$	113,976

DERIVATIVES_Tables

DERIVATIVES (Tables)	3 Months Ended
	Mar. 31, 2015
Derivative [Line Items]
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]	The table below presents the fair value of the Company’s derivative financial instruments as well as their classification on the Company's Consolidated Balance Sheets as of March 31, 2015 and December 31, 2014:
	Instrument Type	Location in consolidated balance sheets		Notional Amount				Designated Benchmark Interest Rate	Strike Rate			Fair Value at March 31, 2015				Fair Value at December 31, 2014				Maturity Date
	Derivative not designated as hedging instruments			(dollars in thousands)
	Interest Rate Cap	Prepaid expenses and other assets, net		$	65,095			One-month LIBOR	4.5	%		$	—			$	1			May-16
	Derivative designated as hedging instruments
	Pay fixed / receive variable rate swap	Accounts payable and accrued expenses, net		$	59,000			One-month LIBOR	1.49	%		$	(888	)		$	(482	)		Jun-18
Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location [Table Text Block]	The table below presents the effect of the Company’s derivative financial instruments on the Company's Consolidated Statements of Operations and Comprehensive Income (Loss) for the three months ended March 31, 2015. The Company had no cash flow hedges during the three months ended March 31, 2014.
									Location of Losses Reclassified from OCI/L Into Earnings (Effective Portion)										Location of Gain (Loss) Recognized in Earnings (Ineffective Portion)
	Hedging Instrument	Gain (Loss) Recognized in OCI/L (Effective Portion)									Loss Recognized in Earnings (Effective Portion)										Gain Recognized in Earnings (Ineffective Portion)
		(dollars in thousands)
	Three Months Ended March 31,	2015				2014					2015				2014						2015		2014
	Pay fixed / receive variable rate swap	$	(601	)		$	(411	)	Interest expense		$	195			$	125			n.a.		$	—	$	—
Designated as Hedging Instrument [Member]
Derivative [Line Items]
Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block]	As of March 31, 2015, the Company had the following outstanding interest rate derivative that was designated as a cash flow hedge of interest rate risk:
	Interest Rate Derivative	Number of Instruments		Notional Amount
				(in thousands)
	Interest rate swap	1		$59,000
Not Designated as Hedging Instrument [Member]
Derivative [Line Items]
Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block]	s of March 31, 2015, the Company had the following outstanding derivative that was not designated as a hedge in qualifying hedging relationships:
	Interest Rate Derivative	Number of Instruments		Notional Amount
				(in thousands)
	Interest rate cap	1		$65,095

STOCK_BASED_COMPENSATION_PLANS1

STOCK BASED COMPENSATION PLANS (Tables)	3 Months Ended
	Mar. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Summary of stock options activity for the equity plan	The following tables summarize stock option activity for the Equity Plan for the three months ended March 31, 2015 and 2014:
		2015				2014
		Shares		Weighted Average Exercise Price		Shares		Weighted Average Exercise Price
	Stock options outstanding at January 1,	3,313,869		$15.89		2,579,171		$15.14
	Granted	857,000		17.18		750,300		18.4
	Exercised	(34,248	)	15.11		—		—
	Forfeited	(32,209	)	17.18		(35,400	)	15.13
	Expired	—		—		—		—
	Stock options outstanding at March 31,	4,104,412		$16.16		3,294,071		$15.89
Summary of stock options outstanding by issuance period
			Stock Options Outstanding (1)
	Issuance		Shares		Weighted Average Remaining Contractual Term (in years)		Weighted Average Exercise Price
	Mar-12		1,463,417		7		$14.72
	May-12		21,900		7.17		13.71
	Aug-12		36,400		7.42		13.75
	Oct-12		297,257		7.58		14.47
	Feb-13		671,400		7.92		16.48
	Feb-14		728,840		8.92		18.4
	Jul-14		28,198		9.33		17.2
	Feb-15		857,000		9.92		17.18
	Stock options outstanding at March 31, 2015		4,104,412		8.16		$16.16
	Explanatory Note:
	(1) As of March 31, 2015, 1,427,143 stock options are fully vested and are currently exercisable. As of March 31, 2015, the intrinsic value of these options was $5.1 million, and such stock options had a weighted average exercise price of $15.39 and a weighted average remaining contractual term of 7.5 years.
Summary of restricted stock activity	The following table summarizes restricted stock activity for the three months ended March 31, 2015 and 2014:
		2015				2014
		Shares		Weighted Average Grant Date Fair Value		Shares		Weighted Average Grant Date Fair Value
	Non-vested restricted stock grants outstanding at January 1,	205,731		$15.45		278,617		$14.85
	Granted	53,550		17.18		42,489		18.4
	Forfeited	—		—		—		—
	Canceled	—		—		—		—
	Vested	(113,342	)	14.99		(101,464	)	14.95
	Non-vested restricted stock grants outstanding at March 31,	145,939		$16.21		219,642		$15.49
Schedule of weighted average assumptions under the Black-Scholes option-pricing model for estimation of fair value of options

EARNINGS_PER_SHARE_Tables

EARNINGS PER SHARE (Tables)	3 Months Ended
	Mar. 31, 2015
Earnings Per Share [Abstract]
Reconciliation of Net Income (Loss)	The following table presents a reconciliation of net income (loss) used in basic and diluted EPS calculations ($ in thousands, except per share data):
		Three Months Ended March 31,
		2015			2014
	Net income (loss) attributable to Rouse Properties Inc.	$	44,407		$	(4,425	)
	Net loss attributable to non-controlling interests	(6		)	—
	Income (loss) attributable to Rouse Properties Inc. and allocable to common shareholders and Participating Security Holders	$	44,401		$	(4,425	)
	Earnings allocable to common shares:
	Numerator for basic and diluted earnings per share
	Net income (loss) attributable to Rouse Properties Inc. and allocable to common shareholders	$	43,759		$	(4,425	)
	Denominator for basic and diluted earnings per share
	Weighted average common shares outstanding - basic	57,603,340			56,129,522
	Add: effect of assumed shares issued under treasury stock method for stock options and restricted shares	683,916			—
	Weighted average common shares outstanding - diluted	58,287,256			56,129,522
	Basic and Diluted earnings per share
	Net income (loss) attributable to Rouse Properties Inc. and allocable to common shareholders- basic	$	0.76		$	(0.08	)
	Net income (loss) attributable to Rouse Properties Inc. and allocable to common shareholders- diluted	$	0.75		$	(0.08	)
	Earnings allocable to Participating Security Holders
	Numerator for basic and diluted earnings per share
	Net income (loss) attributable to Rouse Properties Inc and allocable to Participating Security Holders	$	519		$	—
	Denominator for basic and diluted earnings per share
	Weighted average common shares outstanding - basic	57,603,340			56,129,522
	Add: effect of assumed shares issued under treasury stock method for stock options and restricted shares	683,916
	Weighted average common shares outstanding - diluted	58,287,256			56,129,522
	Basic and Diluted earnings per share
	Net income (loss) attributable to Rouse Properties Inc. and allocable to common shareholders- basic	$	0.01		$	—
	Net income (loss) attributable to Rouse Properties Inc. and allocable to common shareholders- diluted	$	0.01		$	—

ORGANIZATION_Details

ORGANIZATION (Details)	3 Months Ended
	Mar. 31, 2015	Jul. 01, 2014
	segment
Organization [Line Items]
Number of Operating Segments	1
Segment Reporting, Disclosure of Major Customers	0.1
GGP [Member]
Organization [Line Items]
Number of properties assets and liabilities are split over	30
Employee Stock [Member]
Organization [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized		500,000

SUMMARY_OF_SIGNIFICANT_ACCOUNT3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Property, Plant and Equipment)(Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Properties
Preliminary estimate of the cost of the environmental remediation liability	4,515	$4,545
Building and improvements
Properties
Estimated useful lives	40 years
Equipment and fixtures | Maximum [Member]
Properties
Estimated useful lives	10 years
Equipment and fixtures | Minimum [Member]
Properties
Estimated useful lives	5 years

SUMMARY_OF_SIGNIGANT_ACCOUNTIN

SUMMARY OF SIGNIGANT ACCOUNTING POLICIES (Impairment)(Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Restructuring, Settlement and Impairment Provisions	$2,900	$0
Provision for impairment	2,900	0
Gain (Loss) on extinguishment of debt	$22,840	$0

SUMMARY_OF_SIGNIFICANT_ACCOUNT4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Intangible Assets and Liabilities)(Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Intangible assets and liabilities
Net Carrying Amount	($41,316,000)		($43,292,000)
Amortization of Intangible Assets	6,000,000	5,900,000
Amortization of intangible assets and liabilities	2,500,000	3,800,000
Estimated decrease to income due to future amortization
Remainder of 2015	13,735,000
2015	12,059,000
2016	7,149,000
2017	4,695,000
2018	3,296,000
2019	2,677,000
Future Amortization and Accretion Expense Future Amortization [Abstract]
Remainder of 2015	5,286,000
2015	5,054,000
2016	3,179,000
2017	739,000
2018	-781,000
2019	-1,110,000
Tenant leases
Intangible assets and liabilities
Gross Liability	-62,150,000		-65,476,000
Accumulated Accretion	20,834,000		22,184,000
Net Carrying Amount	-41,316,000		-43,292,000
Tenant leases | Leases, Acquired-in-Place
Intangible assets and liabilities
Gross Assets	87,361,000		97,745,000
Accumulated Amortization	-36,015,000		-43,481,000
Net Carrying Amount	51,346,000		54,264,000
Tenant leases | Above-market tenant leases, net
Intangible assets and liabilities
Gross Assets	100,139,000		109,862,000
Accumulated Amortization	-53,898,000		-58,866,000
Net Carrying Amount	46,241,000		50,996,000
Ground leases
Intangible assets and liabilities
Gross Assets	3,682,000		3,682,000
Accumulated Amortization	-575,000		-537,000
Net Carrying Amount	$3,107,000		$3,145,000

SUMMARY_OF_SIGNIFICANT_ACCOUNT5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Interest Rate Hedging Instruments) (Details) (Accounts Payable and Accrued Liabilities [Member], Designated as Hedging Instrument [Member], Cash Flow Hedging [Member], USD $)	Mar. 31, 2015
In Thousands, unless otherwise specified
Accounts Payable and Accrued Liabilities [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member]
Derivative [Line Items]
Derivative Liability	$900

SUMMARY_OF_SIGNIFICANT_ACCOUNT6

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Revenue Recognition and Related Matters)(Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Accounting Policies [Abstract]
Straight-line rent amortization	($42,000)	$625,000
Lease termination income	433,000	0
Net amortization of above and below-market tenant leases	-2,459,000	-3,757,000
Amortization of lease inducement	-8,000	0
Percentage rents in lieu of minimum rent	1,597,000	1,607,000
Straight-line rent receivables, net	13,893,000		14,431,000
Allowance for doubtful accounts	$3,800,000		$3,400,000

SUMMARY_OF_SIGNIFICANT_ACCOUNT7

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Loss Per Share)(Details)	Mar. 31, 2015		Dec. 31, 2014	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2013
Employee Stock Option [Member]
Income (Loss) per share
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	4,104,412	[1]	3,313,869	3,294,071	2,579,171
Restricted Stock [Member]
Income (Loss) per share
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number	145,939		205,731	219,642	278,617	219,642
[1]	(1) As of MarchB 31, 2015, 1,427,143 stock options are fully vested and are currently exercisable. As of MarchB 31, 2015, the intrinsic value of these options was $5.1 million, and such stock options had a weighted average exercise price of $15.39 and a weighted average remaining contractual term of 7.5 years.

SUMMARY_OF_SIGNIFICANT_ACCOUNT8

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Fair Value Measurements)(Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015		Dec. 31, 2014
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value Inputs, Terminal Capitalization Rate	9.50%
Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in Real Estate, Fair Value Disclosure	48,528	[1]	$74,237	[1]
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in Real Estate, Fair Value Disclosure	48,528	[1]	74,237	[1]
Interest Rate Cap [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset	0		1
Interest Rate Swap [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability	-888		-482
Interest Rate Swap [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability	-888		-482
Not Designated as Hedging Instrument [Member] | Interest Rate Cap [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset, Fair Value, Gross Asset	0
Prepaid Expenses and Other Current Assets [Member] | Not Designated as Hedging Instrument [Member] | Interest Rate Cap [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset, Fair Value, Gross Asset			$1
[1]	The carrying value includes each mall's respective land, building, and in-place lease value.

SUMMARY_OF_SIGNIFICIANT_ACCOUN

SUMMARY OF SIGNIFICIANT ACCOUNTING POLICIES (Schedule of Reconciliation of Carrying Value of Properties) (Details) (USD $)	3 Months Ended		12 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015		Dec. 31, 2013		Dec. 31, 2014
Real Estate Properties [Line Items]
Depreciation and amortization expense	$195,183				$189,838
Steeplegate Mall [Member]
Real Estate Properties [Line Items]
Beginning carrying value, January 1, 2014	22,659	[1]
Capital expenditures	0	[1]
Real Estate, Depreciation and Amortization Expense	-219	[1]
Loss on impairment of real estate	0	[1]
Beginning carrying value, January 1, 2014	0	[1]
Collin Creek Mall [Member]
Real Estate Properties [Line Items]
Beginning carrying value, January 1, 2014	51,767	[2],[3]
Capital expenditures	75	[2],[3]
Real Estate, Depreciation and Amortization Expense	-414	[2],[3]
Loss on impairment of real estate	-2,900	[2],[3]
Beginning carrying value, January 1, 2014	48,528	[2],[3]
Steeplegate Mall [Member]
Real Estate Properties [Line Items]
Gain (Loss) on Disposition of Assets			($22,440)	[1]
[1]	(3) The property was conveyed to its mortgage lender during the three months ended March 31, 2015.
[2]	The carrying value includes each mall's respective land, building, and in-place lease value.
[3]	(2) The fair valued derermined using a terminal capitalization rate as of March 31, 2015.

SUMMARY_OF_SIGNIFICANT_ACCOUNT9

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Fair Value)(Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Fair Value of Financial Instruments
Fixed-rate debt	$1,219,672	$1,248,426
Variable-rate debt	325,094	335,304
Total Mortgages, notes and loans payable	1,545,525	1,584,499
Estimated Fair Value
Fair Value of Financial Instruments
Fixed-rate debt	1,231,948	1,248,928
Variable-rate debt	326,916	336,791
Total Mortgages, notes and loans payable	1,558,864	1,585,719
Carrying Amount
Fair Value of Financial Instruments
Fixed-rate debt	1,220,430	1,249,195
Variable-rate debt	325,095	335,304
Total Mortgages, notes and loans payable	$1,545,525	$1,584,499

Recovered_Sheet1

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Deferred Expenses)(Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Deferred lease costs
Gross Asset	$53,582	$55,647
Accumulated Amortization	-13,847	-14,683
Net Carrying Amount	39,735	40,964
Deferred finance costs
Gross Asset	16,753	19,151
Accumulated Amortization	-6,108	-7,504
Net Carrying Amount	10,645	11,647
Total
Gross Asset	70,335	74,798
Accumulated Amortization	-19,955	-22,187
Net Carrying Amount	$50,380	$52,611

Recovered_Sheet2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Asset Retirement Obligations)(Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Asset Retirement Obligations
Preliminary estimate of the cost of the environmental remediation liability	$4,515	$4,545

ACQUISITIONS_Schedule_of_Acqui

ACQUISITIONS (Schedule of Acquistions) (Details) (USD $)	3 Months Ended				0 Months Ended	12 Months Ended	0 Months Ended	3 Months Ended
	Mar. 31, 2015		Mar. 31, 2014		Jan. 28, 2015	Dec. 31, 2014	Aug. 30, 2014	Sep. 30, 2014	Aug. 29, 2014
	sqft		sqft
Business Acquisition [Line Items]
Controlling interest percentage									51.00%
Retail Site [Member]
Business Acquisition [Line Items]
Square Footage Acquired	521,000,000		1,741,046
Purchase Price	$49,000,000		$230,767,000
Retail Site [Member] | Mt. Shasta Mall [Member]
Business Acquisition [Line Items]
Date Acquired					28-Jan-15
Square Footage Acquired	521,000,000	[1],[2]
Purchase Price	49,000,000	[1],[2]
Long term debt, assumed	31,900,000
Interest rate	4.19%
Debt Instrument, Interest Rate Terms	P3Y
Amortization term						30 years
Retail Site [Member] | Bel Air Mall
Business Acquisition [Line Items]
Date Acquired	22-May-14
Square Footage Acquired			1,004,439	[1],[3]
Purchase Price			131,917,000	[1],[3]
Long term debt, assumed	112,500,000
Interest rate	5.30%
Amortization term						30 years
Retail Site [Member] | The Mall at Barnes Crossing
Business Acquisition [Line Items]
Date Acquired							29-Aug-14
Square Footage Acquired			736,607	[4]
Purchase Price			98,850,000	[4]
Acquired interest						100.00%
Long term debt, assumed						67,000,000
Debt Instrument, Interest Rate Terms								P3Y
Amortization term						30 years
Controlling interest percentage						51.00%
Retail Site [Member] | The Mall at Barnes Crossing
Business Acquisition [Line Items]
Interest rate						4.29%
[1]	Rouse acquired a 100% interest in the mall.
[2]	he Company assumed an existing $112.5 million non-recourse mortgage loan with the acquisition. The loan bears interest at a fixed rate of 5.30%, amortizes on a 30 year schedule, and matures in December 2015.
[3]	The Company closed on a new $31.9 million non-recourse mortgage loan that bears interest at 4.19%, matures in March 2025, is interest only for the first three years and amortizes over 30 years, thereafter
[4]	Rouse acquired a 51% controlling interest in the mall and related properties. In conjunction with the closing of this transaction, the Company closed on a new $67.0 million non-recourse mortgage loan that bears interest at a fixed rate of 4.29%, matures in September 2024, is interest only for the first three years and amortizes on a 30 year schedule thereafter. See Note 12 for further details.

ACQUISITIONS_Additional_Inform

ACQUISITIONS (Additional Information) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Business Acquisition [Line Items]
Acquired Below Market Lease Intangibles	$1,813	$14,989
Mt. Shasta Mall [Member]
Business Acquisition [Line Items]
Acquired Below Market Lease Intangibles	1,813
The Mall at Barnes Crossing
Business Acquisition [Line Items]
Acquired Below Market Lease Intangibles		8,100
Bel Air Mall
Business Acquisition [Line Items]
Acquired Below Market Lease Intangibles		6,889
Land
Business Acquisition [Line Items]
Purchase Price	7,809	26,938
Land | Mt. Shasta Mall [Member]
Business Acquisition [Line Items]
Purchase Price	7,809
Land | The Mall at Barnes Crossing
Business Acquisition [Line Items]
Purchase Price		17,969
Land | Bel Air Mall
Business Acquisition [Line Items]
Purchase Price		8,969
Building and improvements
Business Acquisition [Line Items]
Purchase Price	38,008	187,155
Building and improvements | Mt. Shasta Mall [Member]
Business Acquisition [Line Items]
Purchase Price	38,008
Building and improvements | The Mall at Barnes Crossing
Business Acquisition [Line Items]
Purchase Price		75,949
Building and improvements | Bel Air Mall
Business Acquisition [Line Items]
Purchase Price		111,206
Other
Business Acquisition [Line Items]
Purchase Price	302	4,709
Other | Mt. Shasta Mall [Member]
Business Acquisition [Line Items]
Purchase Price	302
Other | The Mall at Barnes Crossing
Business Acquisition [Line Items]
Purchase Price		1,359
Other | Bel Air Mall
Business Acquisition [Line Items]
Purchase Price		3,350
Leases, Acquired-in-Place
Business Acquisition [Line Items]
Purchase Price	3,779	18,302
Leases, Acquired-in-Place | Mt. Shasta Mall [Member]
Business Acquisition [Line Items]
Purchase Price	3,779
Leases, Acquired-in-Place | The Mall at Barnes Crossing
Business Acquisition [Line Items]
Purchase Price		6,973
Leases, Acquired-in-Place | Bel Air Mall
Business Acquisition [Line Items]
Purchase Price		11,329
Above-market tenant leases, net
Business Acquisition [Line Items]
Purchase Price	915	8,652
Above-market tenant leases, net | Mt. Shasta Mall [Member]
Business Acquisition [Line Items]
Purchase Price	915
Above-market tenant leases, net | The Mall at Barnes Crossing
Business Acquisition [Line Items]
Purchase Price		4,700
Above-market tenant leases, net | Bel Air Mall
Business Acquisition [Line Items]
Purchase Price		$3,952

ACQUISITIONS_Narrative_Details

ACQUISITIONS (Narrative) (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Business Acquisition [Line Items]
Acquisition and transaction related costs	$400,000	$200,000
Revenues	74,561,000	67,839,000
Net Income (Loss) Attributable to Parent	44,407,000	-4,425,000
Bel Air Mall
Business Acquisition [Line Items]
Revenues	1,300,000
Net Income (Loss) Attributable to Parent	$0

ACQUISITIONS_Pro_Forma_Details

ACQUISITIONS (Pro Forma) (Details) (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Business Combinations [Abstract]
Total revenues	$75,195	$69,741
Net loss	$44,385	($4,473)
Net income (loss) per share - basic	$0.77	($0.08)
Net income (loss) per share - diluted	$0.76	($0.08)
Weighted average shares - basic	57,603,340	56,130,000
Weighted average shares - diluted	58,287,256	56,129,522

PREPAID_EXPENSES_AND_OTHER_ASS2

PREPAID EXPENSES AND OTHER ASSETS, NET (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Prepaid expenses and other assets
Deposits	$414	$1,447
Prepaid expenses	3,145	4,755
Other	1,861	2,347
Prepaid expenses and other assets, net	54,768	62,690
Ground leases
Prepaid expenses and other assets
Finite-lived intangible assets, net	3,107	3,145
Above-market tenant leases, net | Tenant leases
Prepaid expenses and other assets
Finite-lived intangible assets, net	$46,241	$50,996

Recovered_Sheet3

- Mortgages, Notes and Loans Payable Schedule (Details) (USD $)

0 Months Ended

1 Months Ended

3 Months Ended

In Thousands, unless otherwise specified

Jun. 30, 2014

Jul. 31, 2014

Mar. 31, 2015

Dec. 31, 2014

Jan. 31, 2014

31-May-14

Aug. 31, 2014

Feb. 28, 2015

Oct. 31, 2014

Mortgages, notes and loans payable [Line Item]

Fixed-rate debt

1,219,672

$1,248,426

Less: Market rate adjustments

759

769

Fixed-rate debt at fair value

1,220,431

1,249,195

Variable-rate debt

325,094

335,304

Total Mortgages, notes and loans payable

1,545,525

1,584,499

West Valley [Member]

Mortgages, notes and loans payable [Line Item]

Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate

3.24%

Steeplegate Mall [Member]

Mortgages, notes and loans payable [Line Item]

Fixed-rate debt

0

45,858

Total Mortgages, notes and loans payable

50,000

Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate

0.00%

Bel Air Mall

Mortgages, notes and loans payable [Line Item]

Fixed-rate debt

110,712

[1]

111,276

[1]

Total Mortgages, notes and loans payable

112,505

0

Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate

5.30%

[1]

GreenvilleMall [Member]

Mortgages, notes and loans payable [Line Item]

Fixed-rate debt

40,394

40,602

Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate

5.29%

Vista Ridge Mall [Member]

Mortgages, notes and loans payable [Line Item]

Fixed-rate debt

67,824

68,537

Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate

6.87%

Washington Park Mall [Member]

Mortgages, notes and loans payable [Line Item]

Fixed-rate debt

0

10,505

Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate

0.00%

The Centre at Salisbury [Member]

Mortgages, notes and loans payable [Line Item]

Fixed-rate debt

115,000

115,000

Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate

5.79%

The Mall at Turtle Creek [Member]

Mortgages, notes and loans payable [Line Item]

Fixed-rate debt

77,379

77,648

Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate

6.54%

Collin Creek [Member]

Mortgages, notes and loans payable [Line Item]

Fixed-rate debt

57,572

58,128

Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate

6.78%

Grand Traverse Mall [Member]

Mortgages, notes and loans payable [Line Item]

Fixed-rate debt

59,224

59,479

Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate

5.02%

West Valley Mall [Member]

Mortgages, notes and loans payable [Line Item]

Fixed-rate debt

59,000

[2]

59,000

[2]

Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate

3.24%

[2]

Pierre Bossier Mall [Member]

Mortgages, notes and loans payable [Line Item]

Fixed-rate debt

46,453

46,654

Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate

4.94%

Pierre Bossier Anchor [Member]

Mortgages, notes and loans payable [Line Item]

Fixed-rate debt

3,615

3,637

Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate

4.85%

Southland Center [Member]

Mortgages, notes and loans payable [Line Item]

Fixed-rate debt

75,722

76,037

Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate

5.09%

ChesterfieldTowneCenter [Member]

Mortgages, notes and loans payable [Line Item]

Fixed-rate debt

107,659

107,967

Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate

4.75%

Animas Valley Mall [Member]

Mortgages, notes and loans payable [Line Item]

Fixed-rate debt

49,825

50,053

Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate

4.41%

LakelandMall [Member]

Mortgages, notes and loans payable [Line Item]

Fixed-rate debt

67,739

68,053

Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate

4.17%

Valley Hills [Member]

Mortgages, notes and loans payable [Line Item]

Fixed-rate debt

66,204

66,492

Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate

4.47%

Chula Vista Center [Member]

Mortgages, notes and loans payable [Line Item]

Fixed-rate debt

70,000

[1],[3]

70,000

[1],[3]

Total Mortgages, notes and loans payable

0

[4]

70,000

[4]

Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate

4.18%

[1],[3]

The Mall at Barnes Crossing

Mortgages, notes and loans payable [Line Item]

Fixed-rate debt

67,000

[1]

67,000

[1]

Total Mortgages, notes and loans payable

67

[5]

0

[5]

Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate

4.29%

[1]

Bay Shore Mall [Member]

Mortgages, notes and loans payable [Line Item]

Fixed-rate debt

46,500

[1]

46,500

[1]

Total Mortgages, notes and loans payable

47

[5]

0

[5]

Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate

3.96%

[1]

5.35%

Mt. Shasta Mall [Member]

Mortgages, notes and loans payable [Line Item]

Fixed-rate debt

31,850

[1]

0

[1]

Total Mortgages, notes and loans payable

32

[6]

0

[6]

Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate

4.19%

[1]

NewPark Mall [Member]

Mortgages, notes and loans payable [Line Item]

Debt Instrument, Basis Spread on Variable Rate

4.05%

3.25%

Variable-rate debt

65,094

[7]

65,304

[7]

Variable-rate debt, interest rate

3.43%

[7]

2013 Term Loan [Member]

Mortgages, notes and loans payable [Line Item]

Variable-rate debt

260,000

[8]

260,000

[8]

Variable-rate debt, interest rate

2.93%

[8]

2013 Revolver [Member]

Mortgages, notes and loans payable [Line Item]

Variable-rate debt

0

[8]

$10,000

[8]

Variable-rate debt, interest rate

2.93%

[8]

LIBOR | 2013 Term Loan [Member]

Mortgages, notes and loans payable [Line Item]

Debt Instrument, Basis Spread on Variable Rate

2.75%

LIBOR | 2013 Revolver [Member]

Mortgages, notes and loans payable [Line Item]

Debt Instrument, Basis Spread on Variable Rate

0.00%

[1]

See the significant property loan refinancings and acquisitions table below, under "bProperty-Level Debt" in this Note 5 for additional information regarding the debt related to each property.

[2]

During January 2014, the Company entered into a swap transaction which fixes the interest rate on the loan for this property to 3.24%. See Note 7 for further details.

[3]

(3) On July 1, 2014, the Company removed Chula Vista Center from the 2013 Senior Facility (as defined below) collateral pool and placed a new non-recourse mortgage loan on Chula Vista Center. Sikes Senter debt was repaid on July 1, 2014 from proceeds from the Chula Vista Center refinancing and upon repayment Sikes was added to the 2013 Senior Facility collateral pool with no change to the outstanding 2013 Senior Facility collateral pool balance.

[4]

On July 1, 2014, the Company removed Chula Vista Center, located in Chula Vista, CA, from the 2013 Senior Facility collateral pool and placed a new non-recourse mortgage loan on the property. Sikes Senter, located in Wichita Falls, TX, had an outstanding mortgage loan which was repaid on July 1, 2014 from proceeds from the Chula Vista Center refinancing. Upon repayment Sikes Senter was added to the 2013 Senior Facility collateral pool with no change to the outstanding 2013 Senior Facility balance.

[5]

The loan is interest-only for the first three years.

[6]

(1) Net proceeds are net of closing costs.

[7]

(4) During July 2014, the Company reduced the spread from LIBOR (30 day) plus 405 basis points to LIBOR (30 day) plus 325 basis points.

[8]

(5) LIBOR (30 day) plus 275 basis points.

MORTGAGES_NOTES_AND_LOANS_PAYA2

MORTGAGES, NOTES AND LOANS PAYABLE - Schedule of Property Refinancing (Details) (USD $)

3 Months Ended

1 Months Ended

In Thousands, unless otherwise specified

Mar. 31, 2015

Mar. 31, 2014

Feb. 28, 2015

Dec. 31, 2014

Oct. 31, 2014

Aug. 31, 2014

Jul. 31, 2014

31-May-14

Debt Instrument [Line Items]

Long-term Debt

$1,545,525

$1,584,499

Proceeds from Issuance of Long-term Debt

31,850

0

Repayment of long term debt

50,487

32,820

Mt. Shasta Mall [Member]

Debt Instrument [Line Items]

Long-term Debt

32

[1]

0

[1]

Debt Instrument, Interest Rate, Effective Percentage

4.19%

[1]

0.00%

[1]

Proceeds from Issuance of Long-term Debt

0

[1]

Bay Shore Mall [Member]

Debt Instrument [Line Items]

Long-term Debt

47

[2]

0

[2]

Debt Instrument, Interest Rate, Effective Percentage

3.96%

[2]

0.00%

[2]

Proceeds from Issuance of Long-term Debt

43,400

[2]

The Mall at Barnes Crossing

Debt Instrument [Line Items]

Long-term Debt

67

[2]

0

[2]

Debt Instrument, Interest Rate, Effective Percentage

4.29%

[2]

0.00%

[2]

Proceeds from Issuance of Long-term Debt

0

[2]

Chula Vista Center [Member]

Debt Instrument [Line Items]

Long-term Debt

70,000

[3]

0

[3]

Debt Instrument, Interest Rate, Effective Percentage

4.18%

[3]

0.00%

[3]

Proceeds from Issuance of Long-term Debt

15,000

[3]

Sikes Center [Member]

Debt Instrument [Line Items]

Long-term Debt

0

[3]

54,618

[3]

Debt Instrument, Interest Rate, Effective Percentage

0.00%

[3]

5.20%

[3]

Proceeds from Issuance of Long-term Debt

0

[3]

Bel Air Mall

Debt Instrument [Line Items]

Long-term Debt

112,505

0

Debt Instrument, Interest Rate, Effective Percentage

5.30%

0.00%

Proceeds from Issuance of Long-term Debt

0

Washington Park Mall [Member]

Debt Instrument [Line Items]

Repayment of long term debt

$10,400

[1]

(1) Net proceeds are net of closing costs.

[2]

The loan is interest-only for the first three years.

[3]

On July 1, 2014, the Company removed Chula Vista Center, located in Chula Vista, CA, from the 2013 Senior Facility collateral pool and placed a new non-recourse mortgage loan on the property. Sikes Senter, located in Wichita Falls, TX, had an outstanding mortgage loan which was repaid on July 1, 2014 from proceeds from the Chula Vista Center refinancing. Upon repayment Sikes Senter was added to the 2013 Senior Facility collateral pool with no change to the outstanding 2013 Senior Facility balance.

MORTGAGES_NOTES_AND_LOANS_PAYA3

MORTGAGES, NOTES AND LOANS PAYABLE - Corporate Facility, 2013 Senior Facility Narrative (Details) (USD $)	3 Months Ended		12 Months Ended	0 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014	Nov. 22, 2013
Debt Instrument [Line Items]
Current borrowing capacity				510,000,000
Maximum increase in borrowing capacity			250,000,000
Line of credit, maximum credit			760,000,000
Liabilities Subject to Compromise, Environmental Contingencies	1,100,000
Fees, Letter of Credit	35,689	20,000
Secured Debt [Member]
Debt Instrument [Line Items]
Pledged assets	2,120,000,000
Weighted average interest rate	4.60%		4.60%
Knollwood Mall [Member]
Debt Instrument [Line Items]
Liabilities Subject to Compromise, Environmental Contingencies	4,100,000
Revolving Credit Facility [Member] | 2013 Revolver [Member]
Debt Instrument [Line Items]
Current borrowing capacity	285,000,000			250,000,000
Term			4 years
Extension option			1 year
Long-term Line of Credit	0		10,000,000
Line of Credit Facility Unused Capacity Commitment Fee Percentage for Unused Credit Facility Greater than or Equal to Fifty Percent	0.20%
Commitment Fee Percentage, If Less Than 50 Percent	0.30%
Commitment Fee Amount	200,000	200,000
Secured Debt [Member] | 2013 Term Loan [Member]
Debt Instrument [Line Items]
Current borrowing capacity				260,000,000
Term			5 years
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Debt Instrument Default Interest Rate				3.00%
Weighted Average [Member] | Secured Debt [Member]
Debt Instrument [Line Items]
Term	4 years 7 months

MORTGAGES_NOTES_AND_LOANS_PAYA4

MORTGAGES, NOTES AND LOANS PAYABLE - Property Level Debt Narrative (Details) (USD $)	3 Months Ended			1 Months Ended
	Mar. 31, 2015		Mar. 31, 2014	Feb. 28, 2015	Dec. 31, 2014		Jan. 31, 2015	Oct. 31, 2014
	property
Debt Instrument [Line Items]
Number of real estate properties	35
Long-term Debt	$1,545,525,000				$1,584,499,000
Repayment of long term debt	50,487,000		32,820,000
Property Level Debt [Member]
Debt Instrument [Line Items]
Number of real estate properties	19
Long-term Debt	1,280,000,000
Market rate adjustments	-800,000
Weighted average interest rate	5.00%
Knollwood Mall [Member]
Debt Instrument [Line Items]
Long-term Debt							40,000,000
Bay Shore Mall [Member]
Debt Instrument [Line Items]
Long-term Debt					47,000	[1]		0	[1]
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate	3.96%	[2]		5.35%
Steeplegate Mall [Member]
Debt Instrument [Line Items]
Long-term Debt	50,000,000
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate	0.00%
Washington Park Mall [Member]
Debt Instrument [Line Items]
Repayment of long term debt				$10,400,000
Weighted Average [Member] | Property Level Debt [Member]
Debt Instrument [Line Items]
Term	4 years 9 months
[1]	The loan is interest-only for the first three years.
[2]	See the significant property loan refinancings and acquisitions table below, under "bProperty-Level Debt" in this Note 5 for additional information regarding the debt related to each property.

ACCOUNTS_PAYABLE_AND_ACCRUED_E2

ACCOUNTS PAYABLE AND ACCRUED EXPENSES, NET (Details) (USD $)	Mar. 31, 2015	Feb. 28, 2015	Dec. 31, 2014	Mar. 31, 2013
Accounts Payable and Accrued Liabilities, Current [Abstract]
Below market tenant leases, net (Note 2)	$41,316,000		$43,292,000
Construction payable	20,671,000		16,272,000
Accounts payable and accrued expenses	10,480,000		9,901,000
Accrued dividend	10,478,000	0.18	9,885,000	9,884,000
Accrued interest	6,543,000		4,380,000
Accrued real estate taxes	9,317,000		9,028,000
Deferred income	4,611,000		5,471,000
Accrued payroll and other employee liabilities	2,852,000		9,352,000
Tenant and other deposits	1,369,000		1,336,000
Asset retirement obligation liability	4,515,000		4,545,000
Other	1,292,000		514,000
Total accounts payable and accrued expenses, net	$113,444,000		$113,976,000

DERIVATIVES_Details

DERIVATIVES (Details) (USD $)	3 Months Ended		12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014	Jan. 31, 2014
Derivative [Line Items]
Interest Rate Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months, Net			$700,000
Derivative, Fixed Interest Rate				1.49%
Interest Rate Cap [Member]
Derivative [Line Items]
Derivative, Gain on Derivative	475	10,000
Cash Flow Hedging [Member] | Interest Rate Swap [Member]
Derivative [Line Items]
Number of Instruments			1
Designated as Hedging Instrument [Member] | Interest Expense [Member]
Derivative [Line Items]
Gain (Loss) Recognized in OCI/L (Effective Portion)	-601,000
Loss Recognized in Earnings (Effective Portion)	195,000		125,000
Gain Recognized in Earnings (Ineffective Portion)	0		0
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Interest Rate Swap [Member] | Accounts Payable and Accrued Liabilities [Member]
Derivative [Line Items]
Notional Amount	59,000,000
Strike Rate	1.49%
Derivative Liability, Fair Value	-888,000
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Fair Value, Measurements, Recurring [Member] | Interest Rate Swap [Member] | Accounts Payable and Accrued Liabilities [Member]
Derivative [Line Items]
Derivative Liability, Fair Value			-482,000
Not Designated as Hedging Instrument [Member] | Interest Rate Cap [Member] | Prepaid Expenses and Other Current Assets [Member]
Derivative [Line Items]
Notional Amount	65,095,000
Strike Rate	4.50%
Not Designated as Hedging Instrument [Member] | Fair Value, Measurements, Recurring [Member] | Interest Rate Cap [Member]
Derivative [Line Items]
Derivative Asset, Fair Value, Gross Asset	0
Not Designated as Hedging Instrument [Member] | Fair Value, Measurements, Recurring [Member] | Interest Rate Cap [Member] | Prepaid Expenses and Other Current Assets [Member]
Derivative [Line Items]
Derivative Asset, Fair Value, Gross Asset			$1,000

DERIVATIVES_Additional_Details

DERIVATIVES - Additional (Details) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2015	Jan. 31, 2014	Dec. 31, 2014
Derivative [Line Items]
Derivative, Fixed Interest Rate			1.49%
Amount needed to settle its obligations under the agreement at its termination value		$1,000,000
LIBOR
Derivative [Line Items]
Basis spread on variable rate				1.75%
Interest Expense [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Derivative Instruments, Gain Recognized in Other Comprehensive Income (Loss), Effective Portion	($411,000)

DISPOSITIONS_OF_REAL_ESTATE_AS1

DISPOSITIONS OF REAL ESTATE ASSETS (Details) (USD $)	3 Months Ended		1 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Jan. 31, 2015
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain (Loss) on extinguishment of debt	$22,840,000	$0
Knollwood Mall [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gross proceeds			106,700,000
Mortgage debt			35,100,000
Gain on disposition			32,500,000
Escrow Deposit			7,900,000
Steeplegate Mall [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net outstanding balance	45,900,000
Gain (Loss) on extinguishment of debt	$22.80

INCOME_TAXES_Details

INCOME TAXES (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Income Tax Disclosure [Abstract]
Required minimum percentage distribution of ordinary taxable income to stockholders to qualify as a REIT	90.00%
Period of disqualification of REIT status	4 years
Amount incurred in taxes with the TRS subsidiary	$0.01	$0.02

COMMON_STOCK_Details

COMMON STOCK (Details) (USD $)	1 Months Ended	3 Months Ended		8 Months Ended	0 Months Ended
In Thousands, except Share data, unless otherwise specified	Jan. 31, 2014	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015	Jul. 01, 2014
Common Stock disclosures
Issuance of common stock related to the rights offering (in shares)	8,050,000
Share Price	$19.50
Proceeds from Issuance of Common Stock	$150,700	$0	$156,976
Underwriting Discount		$0	($6,279)
Stock Issued During Period, Shares, Employee Stock Purchase Plans		1,437		2,813
Employee Stock [Member]
Common Stock disclosures
Share-based Compensation Arrangement by Share-based Payment Award, Discount from Market Price, Offering Date					5.00%
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized					500,000
Common Class A [Member] | Brookfield
Common Stock disclosures
Related Party Beneficial Ownership Percentage Held in Reporting Entity		33.50%		33.50%

STOCK_BASED_COMPENSATION_PLANS2

STOCK BASED COMPENSATION PLANS (Details) (USD $)	3 Months Ended
In Millions, except Share data, unless otherwise specified	Mar. 31, 2015		Mar. 31, 2014
Weighted Average Exercise Price
Unrecognized compensation cost (in dollars)	$9.80
Compensation expense expected to be recognized in 2015	3
Compensation expense expected to be recognized in 2016	3.2
Compensation expense expected to be recognized in 2017	1.8
Compensation expense expected to be recognized in 2018	1.1
Employee Stock Option [Member]
Stock Based Compensation Plans
Vesting period	5 years
Shares
Stock options outstanding at beginning of the year (in shares)	3,313,869		2,579,171
Granted (in shares)	857,000		750,300
Exercised (in shares)	-34,248		0
Forfeited (in shares)	-32,209		-35,400
Expired (in shares)	0		0
Stock options outstanding at the end of the year (in shares)	4,104,412	[1]	3,294,071
Weighted Average Exercise Price
Stock options outstanding, beginning period (in dollars per share)	$15.89		$15.14
Granted (in dollars per share)	$17.18		$18.40
Exercised (in dollars per share)	$15		$0
Forfeited (in dollars per share)	$17.18		$15.13
Expired (in dollars per share)	$0		$0
Stock options outstanding, ending period (in dollars per share)	$16.16		$15.89
Stock options becoming fully vested and exercisable (in shares)	1,427,143
Intrinsic value of options vested	$5.10
Weighted Average Exercise Price (in dollars per share)	$15.39
Weighted average contractual term	7 years 5 months 20 days
[1]	(1) As of MarchB 31, 2015, 1,427,143 stock options are fully vested and are currently exercisable. As of MarchB 31, 2015, the intrinsic value of these options was $5.1 million, and such stock options had a weighted average exercise price of $15.39 and a weighted average remaining contractual term of 7.5 years.

STOCK_OPTIONS_OUTSTANDING_Deta

STOCK OPTIONS OUTSTANDING (Details 2) (Employee Stock Option [Member], USD $)	3 Months Ended
In Millions, except Share data, unless otherwise specified	Mar. 31, 2015		Mar. 31, 2014	Dec. 31, 2014	Dec. 31, 2013
Stock options outstanding
Shares	4,104,412	[1]	3,294,071	3,313,869	2,579,171
Weighted Average Remaining Contractual Term (in years)	8 years 1 month 27 days
Weighted Average Exercise Price (in dollars per share)	$16.16		$15.89	$15.89	$15.14
Stock options becoming fully vested and exercisable (in shares)	1,427,143
Intrinsic value of options vested	$5.10
Weighted Average Exercise Price (in dollars per share)	$15.39
Weighted average contractual term	7 years 5 months 20 days
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost	$0.50		$0.40
March 2012 [Member]
Stock options outstanding
Shares	1,463,417
Weighted Average Remaining Contractual Term (in years)	7 years 0 months
Weighted Average Exercise Price (in dollars per share)	$14.72
May 2012 [Member]
Stock options outstanding
Shares	21,900
Weighted Average Remaining Contractual Term (in years)	7 years 2 months 1 day
Weighted Average Exercise Price (in dollars per share)	$13.71
August 2012 [Member]
Stock options outstanding
Shares	36,400
Weighted Average Remaining Contractual Term (in years)	7 years 5 months 1 day
Weighted Average Exercise Price (in dollars per share)	$13.75
October 2012 [Member]
Stock options outstanding
Shares	297,257
Weighted Average Remaining Contractual Term (in years)	7 years 7 months
Weighted Average Exercise Price (in dollars per share)	$14.47
February 2013 [Member]
Stock options outstanding
Shares	671,400
Weighted Average Remaining Contractual Term (in years)	7 years 11 months 1 day
Weighted Average Exercise Price (in dollars per share)	$16.48
February 2014 [Member]
Stock options outstanding
Shares	728,840
Weighted Average Remaining Contractual Term (in years)	8 years 11 months
Weighted Average Exercise Price (in dollars per share)	$18.40
July 2014 [Member]
Stock options outstanding
Shares	28,198
Weighted Average Remaining Contractual Term (in years)	9 years 4 months
Weighted Average Exercise Price (in dollars per share)	$17.20
February 2015 [Member]
Stock options outstanding
Shares	857,000
Weighted Average Remaining Contractual Term (in years)	9 years 11 months
Weighted Average Exercise Price (in dollars per share)	$17.18
[1]	(1) As of MarchB 31, 2015, 1,427,143 stock options are fully vested and are currently exercisable. As of MarchB 31, 2015, the intrinsic value of these options was $5.1 million, and such stock options had a weighted average exercise price of $15.39 and a weighted average remaining contractual term of 7.5 years.

STOCK_BASED_COMPENSATION_PLANS3

STOCK BASED COMPENSATION PLANS STOCK OPTIONS OUTSTANDING (Details 3) (USD $)	3 Months Ended
In Millions, except Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2013
Assumptions used in estimating values of options granted
Unrecognized compensation cost (in dollars)	$9.80
Compensation expense expected to be recognized in 2015	3
Compensation expense expected to be recognized in 2016	3.2
Compensation expense expected to be recognized in 2017	1.8
Compensation expense expected to be recognized in 2018	1.1
Compensation expense expected to be recognized in 2019	0.6
Compensation Nonvested Awards Total Compensatin expense expectedto be recognized in 2020	0.1
Restricted Stock [Member]
Shares
Nonvested restricted stock grants outstanding as of beginning of period (in shares)	205,731	278,617	219,642
Granted (in shares)	53,550	42,489
Forfeited (in shares)	0	0
Cancelled (in shares)	0	0
Vested (in shares)	-113,342	-101,464
Nonvested restricted stock grants outstanding as of end of period (in shares)	145,939	219,642	219,642
Weighted average grant date fair value
Nonvested restricted stock grants outstanding as of beginning of period (in dollars per share)	$15.45	$14.85	$15.49
Granted (in dollars per share)	$17.18	$18.40
Forfeited (in dollars per share)	$0	$0
Cancelled (in dollars per share)	$0	$0
Vested (in dollars per share)	$14.99	$14.95
Nonvested restricted stock grants outstanding as of end of period (in dollars per share)	$16.21		$15.49
Additional disclosures
Weighted average remaining contractual term		1 year 4 months 1 day
Recognition of share-based compensation expense	$0.40
Restricted Stock [Member] | Minimum [Member]
Stock Based Compensation Plans
Vesting period	3 years
Restricted Stock [Member] | Maximum [Member]
Stock Based Compensation Plans
Vesting period	4 years
Employee Stock Option [Member]
Stock Based Compensation Plans
Vesting period	5 years

NONCONTROLLING_INTEREST_Detail

NON-CONTROLLING INTEREST (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Aug. 29, 2014	Jun. 29, 2012
Non-controlling interest
Controlling interest percentage		51.00%
Holdings | Preferred Shares
Non-controlling interest
Number of preferred shares issued (in shares)			111
Par value of shares (in dollars per share)			$1,000
Cumulative preferential annual cash dividend (as a percent)	12.50%
Redemption price (in dollars per share)	$1,000
Liquidation preference (in dollars per share)	$1,000

EARNINGS_PER_SHARE_Details

EARNINGS PER SHARE (Details) (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Earnings Per Share [Abstract]
Net income (loss) attributable to Rouse Properties Inc.	$44,407	($4,425)
Net loss attributable to non-controlling interests	-6	0
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	44,401	-4,425
Earnings Allocable to Common Shares [Abstract]
Net Income (Loss) Available to Common Stockholders, Diluted	43,759	-4,425
Weighted average shares - basic	57,603,340	56,130,000
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements	683,916	0
Weighted average shares - diluted	58,287,256	56,129,522
Earnings Per Share, Basic	$0.76	($0.08)
Earnings Per Share, Diluted	$0.75	($0.08)
Earnings Allocable to Participating Security Holders [Abstract]
Earnings (Loss) Allocated To Participating Securities Basic	$519	$0
Weighted average shares - basic	57,603,340	56,130,000
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements	683,916	0
Weighted average shares - diluted	58,287,256	56,129,522
Earnings Per Share, Basic, Undistributed	$0.01	$0
Earnings Per Share, Diluted, Undistributed	$0.01	$0

RELATED_PARTY_TRANSACTIONS_Det

RELATED PARTY TRANSACTIONS (Details) (USD $)	3 Months Ended		0 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Jan. 12, 2012	Dec. 31, 2014	Aug. 31, 2012
Related party transactions
Maximum borrowing capacity under revolving subordinated credit facility with a wholly-owned subsidiary of Brookfield				$760,000,000
Monthly information technology services fee	500,000	800,000
Monthly information technology services fee payable	500,000			300,000
Capitalized Computer Software, Gross	9,800,000
Brookfield Asset Management Inc [Member] | Office leases [Member] | Building [Member]
Related party transactions
Cost associated with agreement entered with the related party	300,000	300,000
Amount payable to related party	0			0
Term of lease agreement assumed upon spin off			10 years
Brookfield Corporate Operations LLC [Member]
Related party transactions
Cost associated with agreement entered with the related party	0	800,000
Amount payable to related party	200,000			200,000
U.S. Holdings [Member]
Related party transactions
Interest rate basis	LIBOR
Interest receivable (as a percent)					1.05%
Note receivable funds notice period	3 days
Interest income		200,000
Due from affiliate				0
Buildings and Equipment [Member] | Brookfield Corporate Operations LLC [Member]
Related party transactions
Related Party Transaction Business Infrastructure Total Costs Incurred	8,300,000
Due to Affiliate	0
Accounts Payable and Accrued Liabilities [Member]
Related party transactions
Capitalized Computer Software, Gross	300,000
Accounts Payable and Accrued Liabilities [Member] | Brookfield Corporate Operations LLC [Member]
Related party transactions
Capitalized Computer Software, Gross				300,000
Buildings and Equipment [Member]
Related party transactions
Capitalized Computer Software, Gross	$7,000,000

SUBSEQUENT_EVENTS_Details

SUBSEQUENT EVENTS (Details) (USD $)	3 Months Ended		0 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	4-May-15
SUBSEQUENT EVENTS
Common stock dividend declared (in dollars per share)	$0.18	$0.17
Subsequent Event [Member]
SUBSEQUENT EVENTS
Common stock dividend declared (in dollars per share)			$0.18

Uncategorized_Items

Uncategorized Items
[us-gaap_CommonStockSharesIssued]	57,740,925	0	57,833,216	0
[us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest]					-286,000	705,827,000	111,000	-115,550,000	578,000	0	-888,000	670,283,000	16,884,000	-118,474,000	578,000	0