Federal Realty Investment Trust (FRT) 10-K 10 Feb 22 2021 FY Annual report Financial data

Cover Page

Cover Page - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2021	Feb. 07, 2022	Jun. 30, 2021
Entity Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2021
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	1-07533
Entity Registrant Name	FEDERAL REALTY INVESTMENT TRUST
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	87-3916363
Entity Address, Address Line One	909 Rose Avenue, Suite 200
Entity Address, City or Town	North Bethesda
Entity Address, State or Province	MD
Entity Address, Postal Zip Code	20852
City Area Code	301)
Local Phone Number	998-8100
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 9.1
Entity Common Stock, Shares Outstanding		78,616,815
Entity Central Index Key	0000034903
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Amendment Flag	false
Federal Realty OP LP
Entity Information [Line Items]
Document Type	10-K
Document Period End Date	Dec. 31, 2021
Current Fiscal Year End Date	--12-31
Entity File Number	333-262016-01
Entity Registrant Name	FEDERAL REALTY OP LP
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	52-0782497
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Central Index Key	0001901876
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Amendment Flag	false
No Trading Symbol Flag
New York Stock Exchange, Inc. | Common Shares Of Beneficial Interest
Entity Information [Line Items]
Title of 12(b) Security	Common Shares of Beneficial Interest
Trading Symbol	FRT
Security Exchange Name	NYSE
New York Stock Exchange, Inc. | Depositary Shares
Entity Information [Line Items]
Title of 12(b) Security	Depositary Shares, each representing 1/1000 of a share
Trading Symbol	FRT-C
Security Exchange Name	NYSE

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2021
Audit Information [Abstract]
Auditor Name	GRANT THORNTON LLP
Auditor Location	New York, New York
Auditor Firm ID	248

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
ASSETS
Operating (including $2,207,648 and $1,703,202 of consolidated variable interest entities, respectively)	$ 8,814,791	$ 7,771,981
Construction-in-progress (including $18,752 and $44,896 of consolidated variable interest entities, respectively)	607,271	810,889
Real estate, at cost, total	9,422,062	8,582,870
Less accumulated depreciation and amortization (including $389,950 and $335,735 of consolidated variable interest entities, respectively)	(2,531,095)	(2,357,692)
Net real estate	6,890,967	6,225,178
Cash and cash equivalents	162,132	798,329
Accounts and notes receivable	169,007	159,780
Mortgage notes receivable, net	9,543	39,892
Investment in partnerships	13,027	22,128
Operating lease right of use assets	90,743	92,248
Finance lease right of use assets	49,832	51,116
Prepaid expenses and other assets	237,069	218,953
TOTAL ASSETS	7,622,320	7,607,624
Liabilities
Mortgages payable, net (including $335,301 and $413,681 of consolidated variable interest entities, respectively)	339,993	484,111
Notes payable, net	301,466	402,776
Senior notes and debentures, net	3,406,088	3,404,488
Accounts payable and accrued expenses	235,168	228,641
Dividends payable	86,538	83,839
Security deposits payable	25,331	20,388
Operating lease liabilities	72,661	72,441
Finance lease liabilities	72,032	72,049
Other liabilities and deferred credits	206,187	152,424
Total liabilities	4,745,464	4,921,157
Commitments and contingencies (Note 7)
Redeemable noncontrolling interests	213,708	137,720
Shareholders’ equity
Common shares of beneficial interest, $.01 par, 100,000,000 shares authorized, 78,603,305 and 76,727,394 shares issued and outstanding, respectively	790	771
Additional paid-in capital	3,488,794	3,297,305
Accumulated dividends in excess of net income	(1,066,932)	(988,272)
Accumulated other comprehensive loss	(2,047)	(5,644)
Total shareholders’ equity of the Trust	2,580,602	2,464,157
Noncontrolling interests	82,546	84,590
Total shareholders’ equity	2,663,148	2,548,747
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	7,622,320	7,607,624
5.0% Series C Cumulative Redeemable Preferred Shares, (stated at liquidation preference $25,000 per share), 6,000 shares issued and outstanding
Shareholders’ equity
Preferred shares, authorized 15,000,000 shares, $.01 par:	150,000	150,000
5.417% Series 1 Cumulative Convertible Preferred Shares, (stated at liquidation preference $25 per share), 399,896 shares issued and outstanding
Shareholders’ equity
Preferred shares, authorized 15,000,000 shares, $.01 par:	$ 9,997	$ 9,997

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Operating real estate, consolidated variable interest entities	$ 2,207,648	$ 1,703,202
Construction-in-progress, consolidated variable interest entities	18,752	44,896
Accumulated depreciation and amortization, consolidated variable interest entities	389,950	335,735
Mortgages payable, consolidated variable interest entities	$ 335,301	$ 413,681
Preferred shares, authorized	15,000,000	15,000,000
Preferred shares, par value	$ 0.01	$ 0.01
Preferred shares, percentage	5.00%	5.00%
Common shares of beneficial interest, par value	$ 0.01	$ 0.01
Common shares of beneficial interest, shares authorized	100,000,000	100,000,000
Common shares of beneficial interest, shares issued	78,603,305	76,727,394
Common shares of beneficial interest, shares outstanding	78,603,305	76,727,394
5.417% Series 1 Cumulative Convertible Preferred Shares, (stated at liquidation preference $25 per share), 399,896 shares issued and outstanding
Preferred shares, par value	$ 0.01	$ 0.01
Preferred shares, percentage	5.417%	5.417%
Preferred Shares, liquidation preference per share	$ 25	$ 25
Preferred shares, shares issued	399,896	399,896
Preferred shares, shares outstanding	399,896	399,896
5.0% Series C Cumulative Redeemable Preferred Shares, (stated at liquidation preference $25,000 per share), 6,000 shares issued and outstanding
Preferred shares, par value	$ 0.01	$ 0.01
Preferred shares, percentage	5.00%	5.00%
Preferred Shares, liquidation preference per share	$ 25,000	$ 25,000
Preferred shares, shares issued	6,000	6,000
Preferred shares, shares outstanding	6,000	6,000

Consolidated Statements Of Comp

Consolidated Statements Of Comprehensive Income - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
REVENUE
Rental Income	$ 948,842	$ 832,171	$ 932,738
Mortgage interest income	2,382	3,323	3,050
Total revenue	951,224	835,494	935,788
EXPENSES
Rental expenses	198,121	170,920	187,831
Real estate taxes	118,496	119,242	110,927
General and administrative	49,856	41,680	42,754
Depreciation and amortization	279,976	255,027	239,758
Total operating expenses	646,449	586,869	581,270
Impairment charge	0	(57,218)	0
Gain on sale of real estate and change in control of interest, net of tax	89,950	98,117	116,393
OPERATING INCOME	394,725	289,524	470,911
Other interest income	809	1,894	1,266
Interest expense	(127,698)	(136,289)	(109,623)
Early extinguishment of debt	0	(11,179)	0
Income (loss) from partnerships	1,245	(8,062)	(2,012)
Net income	269,081	135,888	360,542
Net income attributable to noncontrolling interests	(7,583)	(4,182)	(6,676)
NET INCOME ATTRIBUTABLE TO THE TRUST	261,498	131,706	353,866
Dividends on preferred shares	(8,042)	(8,042)	(8,042)
NET INCOME AVAILABLE FOR COMMON SHAREHOLDERS	$ 253,456	$ 123,664	$ 345,824
EARNINGS PER COMMON SHARE, BASIC
Net income available for common shareholders	$ 3.26	$ 1.62	$ 4.61
Weighted average number of common shares	77,336	75,515	74,766
EARNINGS PER COMMON SHARE, DILUTED
Net income available for common shareholders	$ 3.26	$ 1.62	$ 4.61
Weighted average number of common shares	77,368	75,515	74,766
COMPREHENSIVE INCOME
Net income	$ 269,081	$ 135,888	$ 360,542
Other comprehensive income (loss) - change in value of interest rate swaps	3,917	(5,302)	(397)
COMPREHENSIVE INCOME	272,998	130,586	360,145
Comprehensive income attributable to noncontrolling interests	(7,903)	(3,711)	(6,676)
COMPREHENSIVE INCOME ATTRIBUTABLE TO THE TRUST	$ 265,095	$ 126,875	$ 353,469

Consolidated Statement Of Share

Consolidated Statement Of Shareholders' Equity - USD ($) $ in Thousands	Total	Preferred Shares	Common shares	Additional Paid-in Capital	Accumulated Dividends in Excess of Net Income	Accumulated Other Comprehensive Loss	Noncontrolling Interests
Beginning balance (in shares) at Dec. 31, 2018		405,896	74,249,633
Beginning balance at Dec. 31, 2018	$ 2,467,330	$ 159,997	$ 745	$ 3,004,442	$ (818,877)	$ (416)	$ 121,439
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Adoption of new accounting standard	(7,098)				(7,098)
Net income, excluding amount attributable to redeemable noncontrolling interests	357,112				353,866		3,246
Other comprehensive income (loss) - change in value of interest rate swaps	(397)					(397)
Dividends declared to common shareholders	(310,973)				(310,973)
Dividends declared to preferred shareholders	(8,042)				(8,042)
Distributions declared to noncontrolling interests, excluding amounts attributable to redeemable noncontrolling interests	(9,961)						(9,961)
Common shares issued, net (in shares)			1,069,740
Common shares issued, net	$ 142,716		$ 11	142,705
Shares issued under dividend reinvestment plan (in shares)	15,909		15,909
Shares issued under dividend reinvestment plan	$ 2,095			2,095
Share-based compensation expense, net of forfeitures (in shares)			111,555
Share-based compensation expense, net of forfeitures	13,330		$ 1	13,329
Shares withheld for employee taxes (in shares)			(34,320)
Shares withheld for employee taxes	(4,626)			(4,626)
Conversion and redemption of OP units (in shares)			128,287
Conversion and redemption of OP units	(72)		$ 2	14,102			(14,176)
Contributions from noncontrolling interests, excluding amounts attributable to redeemable noncontrolling interests	243						243
Adjustment to redeemable noncontrolling interests	(5,525)			(5,525)
Ending balance (in shares) at Dec. 31, 2019		405,896	75,540,804
Ending balance at Dec. 31, 2019	2,636,132	$ 159,997	$ 759	3,166,522	(791,124)	(813)	100,791
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Adoption of new accounting standard	(510)				(510)
Net income, excluding amount attributable to redeemable noncontrolling interests	133,660				131,706		1,954
Other comprehensive income (loss) - change in value of interest rate swaps, excluding amounts attributable to redeemable noncontrolling interests	(4,831)					(4,831)
Other comprehensive income (loss) - change in value of interest rate swaps	(5,302)
Dividends declared to common shareholders	(320,302)				(320,302)
Dividends declared to preferred shareholders	(8,042)				(8,042)
Distributions declared to noncontrolling interests, excluding amounts attributable to redeemable noncontrolling interests	(8,874)						(8,874)
Common shares issued, net (in shares)			1,080,882
Common shares issued, net	$ 98,839		$ 11	98,828
Shares issued under dividend reinvestment plan (in shares)	24,491		24,491
Shares issued under dividend reinvestment plan	$ 2,072			2,072
Share-based compensation expense, net of forfeitures (in shares)			114,251
Share-based compensation expense, net of forfeitures	13,243		$ 1	13,242
Shares withheld for employee taxes (in shares)			(33,034)
Shares withheld for employee taxes	(4,052)			(4,052)
Conversion and redemption of OP units (in shares)			0
Conversion and redemption of OP units	(3,320)		$ 0	(30)			(3,290)
Contributions from noncontrolling interests, excluding amounts attributable to redeemable noncontrolling interests	120						120
Purchase of noncontrolling interest	(7,321)			(1,210)			(6,111)
Adjustment to redeemable noncontrolling interests	21,933			21,933
Ending balance (in shares) at Dec. 31, 2020		405,896	76,727,394
Ending balance at Dec. 31, 2020	2,548,747	$ 159,997	$ 771	3,297,305	(988,272)	(5,644)	84,590
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income, excluding amount attributable to redeemable noncontrolling interests	264,785				261,498		3,287
Other comprehensive income (loss) - change in value of interest rate swaps, excluding amounts attributable to redeemable noncontrolling interests	3,597					3,597
Other comprehensive income (loss) - change in value of interest rate swaps	3,917
Dividends declared to common shareholders	(332,116)				(332,116)
Dividends declared to preferred shareholders	(8,042)				(8,042)
Distributions declared to noncontrolling interests, excluding amounts attributable to redeemable noncontrolling interests	(4,341)						(4,341)
Common shares issued, net (in shares)			1,643,845
Common shares issued, net	$ 172,753		$ 17	172,736
Shares issued under dividend reinvestment plan (in shares)	19,758		19,758
Shares issued under dividend reinvestment plan	$ 1,955			1,955
Share-based compensation expense, net of forfeitures (in shares)			164,553
Share-based compensation expense, net of forfeitures	14,434		$ 2	14,432
Shares withheld for employee taxes (in shares)			(29,031)
Shares withheld for employee taxes	(2,998)			(2,998)
Conversion and redemption of OP units (in shares)			76,786
Conversion and redemption of OP units	(99)		$ 0	7,474			(7,573)
Contributions from noncontrolling interests, excluding amounts attributable to redeemable noncontrolling interests	6,583						6,583
Adjustment to redeemable noncontrolling interests	(2,110)			(2,110)
Ending balance (in shares) at Dec. 31, 2021		405,896	78,603,305
Ending balance at Dec. 31, 2021	$ 2,663,148	$ 159,997	$ 790	$ 3,488,794	$ (1,066,932)	$ (2,047)	$ 82,546

Consolidated Statement Of Sha_2

Consolidated Statement Of Shareholders' Equity (Parenthetical) - USD ($) $ in Thousands	Nov. 04, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement of Stockholders' Equity [Abstract]
Net income attributable to redeemable noncontrolling interests		$ 4,296	$ 2,228	$ 3,430
Other comprehensive income (loss) attributable to redeemable noncontrolling interests		$ 320	$ (471)	$ 0
Dividends declared to common shareholders (in dollars per share)	$ 1.07	$ 4.26	$ 4.22	$ 4.14
Distributions delcared to redeemable noncontrolling interests		$ (5,268)	$ (1,197)	$ (4,094)
Contributions from redeemable noncontrolling interests		$ 74,530	$ 19,335	$ 9,961

Consolidated Statements Of Cash

Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
OPERATING ACTIVITIES
Net income	$ 269,081	$ 135,888	$ 360,542
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	279,976	255,027	239,758
Impairment charge	0	57,218	0
Gain on sale of real estate and change in control of interest, net of tax	(89,950)	(98,117)	(116,393)
Early extinguishment of debt	0	11,179	0
(Income) loss from partnerships	(1,245)	8,062	2,012
Other, net	389	6,142	169
Changes in assets and liabilities, net of effects of acquisitions and dispositions:
Decrease (increase) in accounts receivable, net	1,214	(6,032)	(16,128)
Increase in prepaid expenses and other assets	(5,607)	(3,260)	(10,253)
Increase in accounts payable and accrued expenses	6,782	5,621	2,327
Increase (decrease) in security deposits and other liabilities	10,712	(1,799)	(115)
Net cash provided by operating activities	471,352	369,929	461,919
INVESTING ACTIVITIES
Acquisition of real estate	(366,466)	(9,589)	(204,516)
Capital expenditures - development and redevelopment	(368,786)	(433,872)	(327,074)
Capital expenditures - other	(71,728)	(68,064)	(82,836)
Costs associated with property sold under threat of condemnation, net	0	(12,924)	0
Proceeds from sale of real estate	137,868	183,461	321,997
Investment in partnerships	(3,115)	(3,348)	(1,052)
Distribution from partnerships in excess of earnings	2,970	1,301	2,765
Leasing costs	(21,990)	(15,080)	(25,459)
Repayment (issuance) of mortgage and other notes receivable, net	31,129	(10,268)	(357)
Net cash used in investing activities	(660,118)	(368,383)	(316,532)
FINANCING ACTIVITIES
Costs to amend revolving credit facility	0	(638)	(4,012)
Issuance of senior notes, net of costs	0	1,094,283	399,913
Redemption and retirement of senior notes	0	(510,360)	0
Issuance of notes payable, net of costs	0	398,722	0
Repayment of mortgages, finance leases, and notes payable	(277,643)	(70,237)	(301,029)
Issuance of common shares, net of costs	172,981	99,177	143,027
Dividends paid to common and preferred shareholders	(335,656)	(324,596)	(313,649)
Shares withheld for employee taxes	(2,998)	(4,052)	(4,626)
Contributions from noncontrolling interests	133	0	404
Distributions to and redemptions of noncontrolling interests	(9,784)	(20,563)	(20,133)
Net cash (used in) provided by financing activities	(452,967)	661,736	(100,105)
(Decrease) increase in cash, cash equivalents, and restricted cash	(641,733)	663,282	45,282
Cash, cash equivalents, and restricted cash at beginning of year	816,896	153,614	108,332
Cash, cash equivalents, and restricted cash at end of year	$ 175,163	$ 816,896	$ 153,614

Business And Organization

Business And Organization	12 Months Ended
	Dec. 31, 2021
Nature Of Operations [Abstract]
BUSINESS AND ORGANIZATION	BUSINESS AND ORGANIZATION Federal Realty Investment Trust (the “Trust”) is an equity real estate investment trust (“REIT”) specializing in the ownership, management, and redevelopment of retail and mixed-use properties. Our properties are located primarily in communities where we believe retail demand exceeds supply, in strategically selected metropolitan markets in the Mid-Atlantic and Northeast regions of the United States, California, and South Florida. As of December 31, 2021, we owned or had a majority interest in community and neighborhood shopping centers and mixed-use properties which are operated as 104 predominantly retail real estate projects. We operate in a manner intended to enable us to qualify as a REIT for federal income tax purposes. A REIT that distributes at least 90% of its taxable income to its shareholders each year and meets certain other conditions is not taxed on that portion of its taxable income which is distributed to its shareholders. See Note 15 for a discussion of the UPREIT reorganization we completed in January of 2022. Impacts of COVID-19 Pandemic In March 2020, the World Health Organization declared the outbreak of the novel coronavirus disease ("COVID-19") as a pandemic. While we continue to expect the impact to our properties will be temporary in nature, the extent of the future effects of COVID-19 on our business, results of operations, cash flows, and growth prospects is highly uncertain and will ultimately depend on future developments, none of which can be predicted with any certainty.

Summary Of Significant Accounti

Summary Of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Principles of Consolidation Our consolidated financial statements include the accounts of the Trust, its corporate subsidiaries, and all entities in which the Trust has a controlling interest or has been determined to be the primary beneficiary of a variable interest entity (“VIE”). The equity interests of other investors are reflected as noncontrolling interests or redeemable noncontrolling interests. All significant intercompany transactions and balances are eliminated in consolidation. We account for our interests in joint ventures, which we do not control, using the equity method of accounting. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America, referred to as “GAAP,” requires management to make estimates and assumptions that in certain circumstances affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities, and revenues and expenses. These estimates are prepared using management’s best judgment, after considering past, current and expected events and economic conditions. Actual results could differ from these estimates. Revenue Recognition and Accounts Receivable Our leases with our tenants are classified as operating leases. When collection of substantially all lease payments during the lease term is considered probable, the lease qualifies for accrual accounting. Lease payments are recognized on a straight-line basis from the point in time when the tenant controls the space through the term of the related lease. Variable lease payments relating to percentage rent are recognized at the end of the lease year or earlier if we have determined the required sales level is achieved. Real estate tax and other cost reimbursements are recognized on an accrual basis over the periods in which the related expenditures are incurred. Many of our leases contain tenant options that enable the tenant to extend the term of the lease at expiration at pre-established rental rates that often include fixed rent increases, consumer price index adjustments or other market rate adjustments from the prior base rent. For a tenant to terminate its lease agreement prior to the end of the agreed term, we may require that they pay a fee to cancel the lease agreement. Lease termination fees are generally recognized on the termination date if the tenant has relinquished control of the space. When a lease is terminated early but the tenant continues to control the space under a modified lease agreement, the lease termination fee is generally recognized evenly over the remaining term of the modified lease agreement. Lease concessions (unrelated to the COVID-19 pandemic) are evaluated to determine whether the concession represents a modification of the original lease contract. Modifications generally result in a reassessment of the lease term and lease classification, and remeasurement of lease payments received. Remeasured lease payments are recognized on a straight-line basis over the remaining term of the modified lease contract. In April 2020, the Financial Accounting Standards Board ("FASB") issued interpretive guidance relating to the accounting for lease concessions provided as a result of the COVID-19 pandemic that allows entities to treat the concession as if it was a part of the existing contract instead of applying lease modification accounting. This guidance is only applicable to the COVID-19 pandemic related lease concessions that do not result in a substantial increase in the rights of the lessor or the obligations of the lessee. We have elected this option relating to qualifying rent deferral and rent abatement agreements. For qualifying lease modifications with rent deferrals, this results in no change to our revenue recognition but an increase in the lease receivable balance until the deferred rent has been repaid. For qualifying lease modifications that include rent abatement concessions, this results in a direct reduction of rental income in the current period. As of December 31, 2021, we executed rent deferral agreements related to the COVID-19 pandemic representing approximately $46 million of rent. We have subsequently collected approximately $27 million of those amounts previously deferred. As of December 31, 2021, we have entered into rent abatement agreements related to the COVID-19 pandemic totaling $26 million and $48 million of rents due in 2021 and 2020, respectively. When collection of substantially all lease payments during the lease term is not considered probable, total lease revenue is limited to the lesser of revenue recognized under accrual accounting or cash received. Determining the probability of collection of substantially all lease payments during a lease term requires significant judgment. This determination is impacted by numerous factors including our assessment of the tenant’s credit worthiness, economic conditions, tenant sales productivity in that location, historical experience with the tenant and tenants operating in the same industry, future prospects for the tenant and the industry in which it operates, and the length of the lease term. If leases currently classified as probable are subsequently reclassified as not probable, any outstanding lease receivables (including straight-line rent receivables) would be written-off with a corresponding decrease in rental income. If leases currently classified as not probable are subsequently changed to probable, any lease receivables (including straight-line rent receivables) are re-instated with a corresponding increase to rental income. Since March 2020, federal, state, and local governments have taken various actions to mitigate the spread of COVID-19. These actions included the closure of nonessential businesses and ordering residents to generally stay at home at the onset of the pandemic, phased re-openings and capacity limitations, and now generally lifted restrictions. While the overall economy is showing signs of recovery from the initial impacts of COVID-19, workforce shortages, global supply chain bottlenecks and shortages, inflation, as well as COVID-19 variants are impacting the recovery. Closures and restrictions, along with the general concern over the spread of COVID-19, required a significant number of tenants to close their operations or to significantly limit the amount of business they were able to conduct, which impacted their ability to timely pay rent as required under our leases and also caused many tenants to close their business permanently. As a result, we revised our collectibility assumptions for many of our tenants most significantly impacted by COVID-19. Accordingly, during the years ended December 31, 2021 and 2020, we recognized collectibility related adjustments of $24.0 million and $106.6 million, respectively. This includes changes in our collectibility assessments from probable to not probable, disputed rents, and any rent abatements directly related to COVID-19, as well as the write-off of $0.7 million and $12.7 million, respectively of straight-line rent receivables related to tenants changed to a cash basis of revenue recognition during the years ended December 31, 2021 and 2020. As of December 31, 2021 and 2020, the revenue from approximately 34% and 35% of our tenants (based on total commercial leases), respectively, is being recognized on a cash basis. As of December 31, 2021 and 2020, our straight-line rent receivables balance was $110.7 million and $103.3 million, respectively, and is included in "accounts and notes receivable, net" on our consolidated balance sheet. Other revenue recognition policies Sales of real estate are recognized generally upon the transfer of control, which usually occurs when the real estate is legally sold. When we enter into a transaction to sell a property or a portion of a property, we evaluate the recognition of the sale under ASC 610-20, "Other Income - Gains and Losses from the Derecognition of Nonfinancial Assets." In accordance with ASC 610-20, we apply the guidance in ASC 606, "Revenue from Contracts with Customers," to determine whether and when control transfers and how to measure the associated gain or loss. We determine the transaction price based on the consideration we expect to receive. Variable consideration is included in the transaction price to the extent it is probable that a significant reversal of a gain recognized will not occur. We analyze the risk of a significant gain reversal and if necessary limit the amount of variable consideration recognized in order to mitigate this risk. The estimation of variable consideration requires us to make assumptions and apply significant judgment. Real Estate Land, buildings and improvements are recorded at cost. Depreciation is computed using the straight-line method. Estimated useful lives range generally from 35 years to a maximum of 50 years on buildings and major improvements. Minor improvements, furniture and equipment are capitalized and depreciated over useful lives ranging from 2 to 20 years. Maintenance and repairs that do not improve or extend the useful lives of the related assets are charged to operations as incurred. Tenant improvements are capitalized and depreciated over the life of the related lease or their estimated useful life, whichever is shorter. If a tenant vacates its space prior to contractual termination of its lease, the undepreciated balance of any tenant improvements are written off if they are replaced or have no future value. In 2021, 2020 and 2019, real estate depreciation expense was $245.1 million, $227.9 million and $215.4 million, respectively, including amounts from real estate sold. Our methodology of allocating the cost of acquisitions to assets acquired and liabilities assumed is based on estimated fair values, replacement cost and/or appraised values. When we acquire operating real estate properties, the purchase price is allocated to land, building, improvements, leasing costs, intangibles such as acquired leases, assumed debt, if any, and to current assets and liabilities acquired, if any. The value allocated to acquired leases is amortized over the related lease term and reflected as rental income in the consolidated statements of comprehensive income. We consider qualitative and quantitative factors in evaluating the likelihood of a tenant exercising a below market renewal option and include such renewal options in the calculation of acquired lease value when we consider these to be bargain renewal options. If the value of below market lease intangibles includes renewal option periods, we include such renewal periods in the amortization period utilized. If a tenant vacates its space prior to contractual termination of its lease, the unamortized balance of any acquired lease value is written off to rental income. Transaction costs related to asset acquisitions, such as broker fees, transfer taxes, legal, accounting, valuation, and other professional and consulting fees, are capitalized as part of the acquisition cost. The acquisition of an operating shopping center typically qualifies as an asset acquisition. Prior to the adoption of ASU 2016-02, "Leases," when applicable, as lessee, we classified our leases of land and building as operating or capital leases. We were required to use judgment and make estimates in determining the lease term, the estimated economic life of the property and the interest rate to be used in determining whether or not the lease meets the qualification of a capital lease. Subsequently, capital leases are now considered "finance leases." We capitalize certain costs related to the development and redevelopment of real estate including pre-construction costs, real estate taxes, insurance, construction costs and salaries and related costs of personnel directly involved, are capitalized. Additionally, we capitalize interest costs related to development and redevelopment activities. Capitalization of these costs begin when the activities and related expenditures commence and cease when the project is substantially complete and ready for its intended use at which time the project is placed in service and depreciation commences. Additionally, we make estimates as to the probability of certain development and redevelopment projects being completed. If we determine the development or redevelopment is no longer probable of completion, we expense all capitalized costs which are not recoverable. Long-Lived Assets and Impairment There are estimates and assumptions made by management in preparing the consolidated financial statements for which the actual results will be determined over long periods of time. This includes the recoverability of long-lived assets, including our properties that have been acquired or redeveloped and our investment in certain joint ventures. Management’s evaluation of impairment includes review for possible indicators of impairment as well as, in certain circumstances, undiscounted and discounted cash flow analysis. Since most of our investments in real estate are wholly-owned or controlled assets which are held for use, a property with impairment indicators is first tested for impairment by comparing the undiscounted cash flows, including residual value, to the current net book value of the property. If the undiscounted cash flows are less than the net book value, the property is written down to expected fair value. The calculation of both discounted and undiscounted cash flows requires management to make estimates of future cash flows including revenues, operating expenses, required maintenance and development expenditures, market conditions, demand for space by tenants and rental rates over long periods. Because our properties typically have a long life, the assumptions used to estimate the future recoverability of book value requires significant management judgment. Actual results could be significantly different from the estimates. These estimates have a direct impact on net income, because recording an impairment charge results in a negative adjustment to net income. Cash and Cash Equivalents We define cash and cash equivalents as cash on hand, demand deposits with financial institutions and short term liquid investments with an initial maturity, when purchased, under three months. Cash balances in individual banks may exceed the federally insured limit by the Federal Deposit Insurance Corporation (the “FDIC”). At December 31, 2021, we had $167.3 million in excess of the FDIC insured limit. Prepaid Expenses and Other Assets Prepaid expenses and other assets consist primarily of lease costs, prepaid property taxes and acquired above market leases. Capitalized lease costs are incremental direct costs incurred which were essential to originate a successful leasing arrangement and would not have been incurred had the leasing transaction not taken place. These costs include third party commissions related to obtaining a lease. Capitalized lease costs are amortized over the initial life of the related lease which generally ranges from three ten Debt Issuance Costs Costs related to the issuance of debt instruments are deferred and are amortized as interest expense over the estimated life of the related issue using the straight-line method which approximates the effective interest method. If a debt instrument is paid off prior to its original maturity date, the unamortized balance of debt issuance costs are written off to interest expense or, if significant, included in “early extinguishment of debt.” Debt issuance costs related to our revolving credit facility are classified as an asset and are included in "prepaid expenses and other assets" in our consolidated balance sheets. All other debt issuance costs are presented as a direct deduction from the carrying amount of the debt liability. Derivative Instruments We may use derivative instruments to manage exposure to variable interest rate risk. We generally enter into interest rate swaps to manage our exposure to variable interest rate risk and treasury locks to manage the risk of interest rates rising prior to the issuance of debt. We enter into derivative instruments that qualify as cash flow hedges and do not enter into derivative instruments for speculative purposes. Interest rate swaps associated with cash flow hedges are recorded at fair value on a recurring basis. Effectiveness of cash flow hedges is assessed both at inception and on an ongoing basis. The effective portion of changes in fair value of the interest rate swaps associated with cash flow hedges is recorded in other comprehensive income (loss) which is included in accumulated other comprehensive income (loss) on the balance sheet and statement of shareholders' equity. Cash flow hedges become ineffective if critical terms of the hedging instrument and the debt instrument do not perfectly match such as notional amounts, settlement dates, reset dates, calculation period and LIBOR rate. In addition, the default risk of the counterparty is evaluated by monitoring the credit worthiness of the counterparty which includes reviewing debt ratings and financial performance. If a cash flow hedge is deemed ineffective, the ineffective portion of changes in fair value of the interest rate swaps associated with cash flow hedges is recognized in earnings in the period affected. At December 31, 2021, we have two interest rate swap agreements that effectively fix the interest rate on a mortgage payable associated with our Hoboken property at 3.67%. Both swaps were designated and qualify for cash flow hedge accounting. As of December 31, 2021, our Assembly Row hotel joint venture is a party to two interest rate swap agreements that effectively fix the interest rate on the joint venture's mortgage debt at 5.206%. Both swaps were designated and qualify as cash flow hedges. Hedge ineffectiveness has not impacted earnings in 2021, 2020 and 2019. Mortgage Notes Receivable We have invested in certain mortgage loans that, because of their nature, qualify as loan receivables. At the time of investment, we did not intend for the arrangement to be anything other than a financing and did not contemplate a real estate investment. We evaluate each investment to determine whether the loan arrangement qualifies as a loan, joint venture or real estate investment and the appropriate accounting thereon. Such determination affects our balance sheet classification of these investments and the recognition of interest income derived therefrom. Mortgage notes receivable are recorded at cost, net of any valuation adjustments. Effective January 1, 2020, (upon the adoption of ASU 2016-13, "Financial Instruments - Credit Losses," as amended and interpreted), we account for mortgage notes receivable using the "expected credit loss" model, and accordingly impairment losses are estimated and recorded for the entire life of the loan. Prior to the implementation of ASC 326, we recognized impairment losses as incurred. Interest income is accrued as earned. Mortgage notes receivable are considered past due based on the contractual terms of the note agreement. On a quarterly basis, we evaluate the collectability of each mortgage note receivable and update our expected credit loss model based on various factors which may include payment history, expected fair value of the collateral securing the loan, internal and external credit information and/or economic trends. A loan is considered impaired when it is probable that we will be unable to collect all amounts due under the existing contractual terms. When a loan is considered impaired, the amount of the loss accrual is calculated by comparing the carrying amount of the mortgage note receivable to the present value of expected future cash flows. As our loans are collateralized by mortgages, these loans have risk characteristics similar to the risks in owning commercial real estate. On May 11, 2021, two of our outstanding mortgage notes receivable were repaid. Including interest, the net proceeds were $33.8 million. As a result of the transaction, our mortgage notes receivable, net of valuation allowance, decreased $30.3 million. At December 31, 2021, we had three mortgage notes receivable with an aggregate carrying amount, net of valuation adjustments of $9.5 million, and a weighted average interest rate of 10.9%. Share Based Compensation We grant share based compensation awards to employees and trustees typically in the form of restricted common shares, common shares, and options. We measure share based compensation expense based on the grant date fair value of the award and recognize the expense ratably over the requisite service period, which is typically the vesting period. See Note 12 for further discussion regarding our share based compensation plans and policies. Variable Interest Entities Certain entities that do not have sufficient equity at risk for the entity to finance its activities without additional subordinated financial support from other parties or in which equity investors do not have the characteristics of a controlling financial interest qualify as VIEs. VIEs are required to be consolidated by their primary beneficiary. The primary beneficiary of a VIE has both the power to direct the activities that most significantly impact economic performance of the VIE and the obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE. On January 4, 2021, we acquired our partner's interest in the Pike & Rose hotel joint venture, which was previously considered a variable interest in a VIE. See Note 3 for additional details of this transaction. Our equity method investments in the Assembly Row hotel joint venture and the La Alameda shopping center and our mortgage notes receivable are considered variable interests in a VIE. As we do not control the activities that most significantly impact the economic performance of the joint ventures related to the Assembly Row hotel, the La Alameda shopping center, or the borrower entities related to our mortgage notes receivable, we are not the primary beneficiary and do not consolidate. As of December 31, 2021 and 2020, our investment in the Assembly Row hotel and La Alameda shopping center joint ventures and maximum exposure to loss was $8.9 million and $9.9 million, respectively, and $8.8 million for our Pike & Rose hotel joint venture as of December 31, 2020. As of December 31, 2021 and 2020, our investment in mortgage notes receivable and maximum exposure to loss was $9.5 million and $39.9 million, respectively. In addition, we have 21 entities that meet the criteria of a VIE in which we hold a variable interest. For each of these entities, we control the significant operating decisions and consequently have the power to direct the activities that most significantly impact the economic performance of the entities. As we also have the obligation to absorb the majority of the losses and/or the right to receive a majority of the benefits for each of these entities, all are consolidated in our financial statements. Net real estate assets related to VIEs included in our consolidated balance sheets were approximately $1.8 billion and $1.4 billion as of December 31, 2021 and 2020, respectively, and mortgages related to VIEs included in our consolidated balance sheets were approximately $335.3 million and $413.7 million, as of December 31, 2021 and 2020, respectively. Redeemable Noncontrolling Interests We have certain noncontrolling interests that are redeemable for cash upon the occurrence of an event that is not solely in our control and therefore are classified outside of permanent equity. We adjust the carrying amounts of these noncontrolling interests that are currently redeemable to redemption value at the balance sheet date. Adjustments to the carrying amount to reflect changes in redemption value are recorded as adjustments to additional paid-in capital in shareholders' equity. These amounts are classified within the mezzanine section of the consolidated balance sheets. The following table provides a rollforward of the redeemable noncontrolling interests: Year Ended December 31, 2021 2020 (In thousands) Beginning balance $ 137,720 $ 139,758 Contributions 74,530 19,335 Net income 4,296 2,228 Other comprehensive income (loss) - change in value of interest rate swaps 320 (471) Distributions & redemptions (5,268) (1,197) Change in redemption value 2,110 (21,933) Ending balance $ 213,708 $ 137,720 Leases We adopted ASC 842 effective January 1, 2019 under the modified retrospective approach and elected the optional transition method to apply the provisions of ASC 842 as of the adoption date, rather than the earliest period presented. We elected to apply certain adoption related practical expedients for all leases that commenced prior to the election date. These practical expedients included not reassessing whether any expired or existing contracts were or contained leases; not reassessing the lease classification for any expired or existing leases; and not reassessing initial direct costs for any existing leases. We also elected the practical expedient for lessors to combine our lease and non-lease components (primarily impacts common area maintenance recoveries). Lessor We recorded a charge to the opening accumulated dividends in excess of net income of $7.1 million in 2019 as a result of the adoption of ASC 842. This charge was attributable to the write off certain direct leasing costs recorded under the previous lease accounting rules for leases which had not commenced as well as the write off of unreserved receivables (including straight-line receivables) for leases where we had determined the collection of substantially all the lease payments required for the term is not probable. Lessee We have ground leases at 12 properties which are accounted for as operating leases. The operating lease right of use ("ROU") assets and related liabilities are shown separately on the face of our consolidated balance sheet and reflect the present value of the minimum lease payments. A key input in the calculation is the discount rate. As the rate implied in the lease agreements is not readily determinable, we utilize our incremental borrowing rate that correspond to the remaining term of the lease, our credit spread, and and adjustment to reflect the collateralized payment terms present in the lease. Our operating lease agreements may include options to extend the lease term or terminate it early. We include options to extend or terminate leases in the ROU operating lease asset and liability when it is reasonably certain we will exercise these options. Operating lease expense is recognized on a straight-line basis over the non-cancellable lease term and is included in rental expenses in our consolidated statements of operations. We elected to apply the short-term lease exemption within ASC 842, and as such we have not recorded an ROU asset or lease liability for leases with terms of less than 12 months. Income Taxes We operate in a manner intended to enable us to qualify as a REIT for federal income tax purposes. A REIT that distributes at least 90% of its taxable income to its shareholders each year and meets certain other conditions is not taxed on that portion of its taxable income which is distributed to its shareholders. Therefore, federal income taxes on our taxable income have been and are generally expected to be immaterial. We are obligated to pay state taxes, generally consisting of franchise or gross receipts taxes in certain states. Such state taxes also have not been material. We have elected to treat certain of our subsidiaries as taxable REIT subsidiaries, which we refer to as a TRS. In general, a TRS may engage in any real estate business and certain non-real estate businesses, subject to certain limitations under the Internal Revenue Code of 1986, as amended (the “Code”). A TRS is subject to federal and state income taxes. Our TRS activities have not been material. With few exceptions, we are no longer subject to U.S. federal, state, and local tax examinations by tax authorities for years before 2017. As of December 31, 2021 and 2020, we had no material unrecognized tax benefits. While we currently have no material unrecognized tax benefits, as a policy, we recognize penalties and interest accrued related to unrecognized tax benefits as income tax expense. Segment Information Our primary business is the ownership, management, and redevelopment of retail and mixed-use properties. We review operating and financial information for each property on an individual basis and therefore, each property represents an individual operating segment. We evaluate financial performance using property operating income, which consists of rental income, and mortgage interest income, less rental expenses and real estate taxes. No individual commercial or residential property constitutes more than 10% of our revenues or property operating income and we have no operations outside of the United States of America. Therefore, we have aggregated our properties into one reportable segment as the properties share similar long-term economic characteristics and have other similarities including the fact that they are operated using consistent business strategies, are typically located in major metropolitan areas, and have similar tenant mixes. Forward Equity Sales On February 24, 2021, we replaced our existing at-the-market (“ATM”) equity program with a new ATM equity program in which we may from time to time offer and sell common shares having an aggregate offering price of up to $500.0 million. The new ATM equity program also allows shares to be sold through forward sales contracts. Our forward sales contracts currently meet all the conditions for equity classification; and therefore, we record common stock on the settlement date at the purchase price contemplated by the contract. Furthermore, we consider the potential dilution resulting from forward sales contracts in our earnings per share calculations. We use the treasury method to determine the dilution, if any, from the forward sales contracts during the period of time prior to settlement. See Note 8 to the consolidated financial statements for details of our 2021 forward sales transactions. Recent Accounting Pronouncements Issued in 2021: ASU 2021-05, July 2021, Lessors - Certain Leases with Variable Lease Payments (Topic 842) This ASU amends the lessor lease classification in ASC 842 for leases that include variable lease payments that are not based on an index or rate. Under the amended guidance, lessors will classify a lease with variable payments that do not depend on an index or rate as an operating lease if the lease would have been classified as a sales-type lease or a direct financing lease under the previous ASU 842 classification criteria, and sales-type or direct financing lease classification would result in a Day 1 loss. This guidance is effective for annual periods beginning after December 15, 2021, and interim periods therein. The adoption of this standard does not have an impact to our consolidated financial statements. Issued in 2020: ASU 2020-04, March 2020, Reference Rate Reform (Topic 848) This ASU provides companies with optional practical expedients to ease the accounting burden for contract modifications associated with transitioning away from LIBOR and other interbank offered rates that are expected to be discontinued as part of reference rate reform. For hedges, the guidance generally allows changes to the reference rate and other critical terms without having to de-designate the hedging relationship, as well as allows the shortcut method to continue to be applied. For contract modifications, changes in the reference rate or other critical terms will be treated as a continuation of the prior contract. This guidance can be applied immediately, however, is generally only available through December 31, 2022. We are still evaluating the impact of reference rate reform and whether we will apply any of these practical expedients. ASU 2020-06, August 2020, Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging - Contracts in Entity's Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity's Own Equity This ASU simplifies the accounting for convertible instruments by removing the requirements to separately present certain conversion features in equity, simplifying the settlement assessment that entities are required to perform to determine wh

Real Estate

Real Estate	12 Months Ended
	Dec. 31, 2021
Real Estate [Abstract]
Real Estate Disclosure	REAL ESTATE 2021 Property Acquisitions On January 4, 2021, we acquired our partner's 20% interest in our joint venture arrangement related to the Pike & Rose hotel for $2.3 million, and repaid the $31.5 million mortgage loan encumbering the hotel. As a result of the transaction, we gained control of the hotel, and effective January 4, 2021, we have consolidated this asset. We also recognized a gain on acquisition of the controlling interest of $2.1 million related to the difference between the carrying value and fair value of the previously held equity interest. On February 22, 2021, we acquired the fee interest at our Mount Vernon Plaza property in Alexandria, Virginia for $5.6 million. As a result of this transaction, the "operating lease right of use assets" and "operating lease liabilities" on our consolidated balance sheet decreased by $9.8 million. We now own the entire fee interest on this property. During the year ended December 31, 2021, we acquired the following properties: Date Acquired Property City/State Gross Leasable Area (GLA) Ownership % Gross Value (in square feet) (in millions) April 30, 2021 Chesterbrook (1) McLean, Virginia 90,000 80 % $ 32.1 (2) June 1, 2021 Grossmont Center (1) La Mesa, California 933,000 60 % $ 175.0 (3) June 14, 2021 Camelback Colonnade (1) Phoenix, Arizona 642,000 98 % $ 162.5 (4) June 14, 2021 Hilton Village (1) Scottsdale, Arizona 93,000 98 % $ 37.5 (5) September 2, 2021 Twinbrooke Shopping Centre Fairfax, Virginia 106,000 100 % $ 33.8 (6) (1) These acquisitions were completed through newly formed joint ventures, for which we own the controlling interest listed above, and therefore, these properties are consolidated in our financial statements. (2) Approximately $1.9 million and $0.6 million of net assets acquired were allocated to other assets for "acquired lease costs" and "above market leases," respectively, and $8.0 million of net assets acquired were allocated to other liabilities for "below market leases." (3) Approximately $12.3 million and $2.6 million of net assets acquired were allocated to other assets for "acquired lease costs" and "above market leases," respectively, and $14.7 million of net assets acquired were allocated to other liabilities for "below market leases." (4) Approximately $11.6 million of net assets acquired were allocated to other assets for "acquired lease costs" and $28.3 million were allocated to other liabilities for "below market leases." (5) The land is controlled under a long-term ground lease that expires on December 31, 2076, for which we have recorded a $10.4 million "operating lease right of use asset" (net of a $1.3 million above market liability) and an $11.6 million "operating lease liability." Approximately $2.7 million and $1.1 million of net assets acquired were allocated to other assets for "acquired lease costs" and "above market leases," respectively, and $3.6 million were allocated to other liabilities for "below market leases." (6) Approximately $1.2 million and $0.3 million of net assets acquired were allocated to other assets for "acquired lease costs" and "above market leases," respectively, and $2.7 million of net assets acquired were allocated to other liabilities for "below market leases." 2021 Property Dispositions During the year ended December 31, 2021, we sold two properties and a portion of three properties for a total sales price of $141.6 million, which resulted in a net gain of $88.3 million. 2020 Property Acquisitions Date Acquired Property City/State Gross Leasable Area (GLA) Purchase Price (in square feet) (in millions) January 10, 2020 Fairfax Junction Fairfax, Virginia 49,000 $ 22.3 (1) February 12, 2020 Hoboken (2 mixed-use buildings) Hoboken, New Jersey 12,000 $ 14.3 (2) (1) This property is adjacent to, and is operated as part of the property acquired in 2019. The purchase price was paid with a combination of cash and the issuance of 163,322 downREIT operating partnership units. Approximately $0.5 million and $0.4 million of net assets acquired were allocated to other assets for "above market leases," and other liabilities for "below market leases," respectively. (2) The purchase price includes the assumption of $8.9 million of mortgage debt, and is in addition to the 37 buildings previously acquired in 2019, and was completed through the same joint venture. Less than $0.1 million and approximately $3.3 million of net assets acquired were allocated to other assets for "above market leases," and other liabilities for "below market leases," respectively. 2020 Impairment On September 1, 2020, the $60.6 million non-recourse mortgage loan on The Shops at Sunset Place matured. The mortgage was not repaid, and thus the lender declared the loan in default. We evaluated our long-term plans for the property, taking into account current market conditions and prospective development and redevelopment returns, as well as the impact of COVID-19 on the revenue prospects for the property, and concluded we did not expect to move forward with the planned redevelopment or repay the mortgage balance, and thus, did not expect to be long term holders of the asset. Given these expectations, we recorded an impairment charge of $57.2 million during the third quarter of 2020. The fair value estimate used to determine the impairment charge was determined by market comparable data and discounted cash flow analyses. The cash flows utilized in such analyses are comprised of unobservable inputs which include forecasted rental revenue and expenses based upon market conditions and future expectations. The capitalization rates and discount rates utilized in such analyses are based upon unobservable rates that we believe to be within a reasonable range of current market rates for the property. Based on these inputs, we have determined that the $57 million estimated valuation of the property is classified within Level 3 of the fair value hierarchy. On December 31, 2020, we sold The Shops at Sunset Place for $65.5 million and repaid the mortgage loan. The resulting gain of $9.2 million is included in the cumulative 2020 gain of $98.1 million noted in the 2020 Property Dispositions section below. 2020 Property Dispositions During the year ended December 31, 2020, we sold three properties (including The Shops at Sunset Place discussed above) and one building for a total sales price of $186.1 million, which resulted in a net gain of $98.1 million. During the year ended December 31, 2020, we closed on the sale of the remaining two condominium units at our Pike & Rose property, receiving proceeds net of closing costs of $2.1 million.

Acquired In-Place Leases

Acquired In-Place Leases	12 Months Ended
	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
ACQUIRED IN-PLACE LEASES	ACQUIRED LEASES Acquired lease assets comprise of above market leases where we are the lessor and below market leases where we are the lessee. Acquired lease liabilities comprise of below market leases where we are the lessor and above market leases where we are the lessee. As a lessor, acquired above market leases are included in prepaid expenses and other assets, and acquired below market leases are included in other liabilities and deferred credits. In accordance with our adoption of ASC Topic 842, acquired below market leases and acquired above market leases where we are the lessee are included in right of use assets. The following is a summary of our acquired lease assets and liabilities: December 31, 2021 December 31, 2020 Cost Accumulated Amortization Cost Accumulated Amortization (in thousands) Above market leases, lessor $ 46,951 $ (33,617) $ 43,560 $ (31,661) Below market leases, lessee 34,604 (5,019) 34,604 (4,190) Total $ 81,555 $ (38,636) $ 78,164 $ (35,851) Below market leases, lessor $ (230,059) $ 78,327 $ (174,582) $ 68,286 Above market leases, lessee (10,347) 2,654 (9,084) 2,116 Total $ (240,406) $ 80,981 $ (183,666) $ 70,402 The value allocated to acquired leases where we are the lessor is amortized over the related lease term and reflected as additional rental income for below market leases or a reduction of rental income for above market leases in the consolidated statements of comprehensive income. The related amortization of acquired leases where we are the lessee is reflected as additional rental expense for below market leases or a reduction of rental expenses for above market leases in the consolidated statements of comprehensive income. The following is a summary of acquired lease amortization: Year Ended December 31, 2021 2020 2019 (in thousands) Amortization of above market leases, lessor $ (3,150) $ (4,060) $ (3,239) Amortization of below market leases, lessor 11,897 8,406 9,623 Net increase in rental income $ 8,747 $ 4,346 $ 6,384 Amortization of below market leases, lessee $ 828 $ 828 $ 828 Amortization of above market leases, lessee (538) (525) (525) Net increase in rental expense $ 290 $ 303 $ 303 The following is a summary of the remaining weighted average amortization period for our acquired lease assets and acquired lease liabilities: December 31, 2021 Above market leases, lessor 3.2 years Below market leases, lessee 37.6 years Below market leases, lessor 18.1 years Above market leases, lessee 17.6 years The amortization for acquired leases during the next five years and thereafter, assuming no early lease terminations, is as follows: Acquired Lease Assets Acquired Lease Liabilities (In thousands) Year ending December 31, 2022 $ 3,674 $ 13,541 2023 3,446 12,962 2024 3,139 12,450 2025 2,126 8,984 2026 1,931 8,622 Thereafter 28,603 102,866 $ 42,919 $ 159,425

Debt

Debt	12 Months Ended
	Dec. 31, 2021
Debt Instruments [Abstract]
Debt Disclosure [Text Block]	DEBT The following is a summary of our total debt outstanding as of December 31, 2021 and 2020: Principal Balance as of December 31, Stated Interest Rate as of Stated Maturity Date as of Description of Debt 2021 2020 December 31, 2021 December 31, 2021 Mortgages payable (Dollars in thousands) Sylmar Towne Center $ — $ 16,236 5.39 % June 6, 2021 Plaza Del Sol — 8,041 5.23 % December 1, 2021 THE AVENUE at White Marsh — 52,705 3.35 % January 1, 2022 Montrose Crossing — 65,596 4.20 % January 10, 2022 Azalea 40,000 40,000 3.73 % November 1, 2025 Bell Gardens 12,127 12,408 4.06 % August 1, 2026 Plaza El Segundo 125,000 125,000 3.83 % June 5, 2027 The Grove at Shrewsbury (East) 43,600 43,600 3.77 % September 1, 2027 Brook 35 11,500 11,500 4.65 % July 1, 2029 Hoboken (24 Buildings) (1) 56,450 56,450 LIBOR + 1.95% December 15, 2029 Various Hoboken (14 Buildings) 31,817 32,705 Various (2) Various through 2029 Chelsea 4,851 5,234 5.36 % January 15, 2031 Hoboken (1 Building) (3) 16,234 16,560 3.75 % July 1, 2042 Subtotal 341,579 486,035 Net unamortized debt issuance costs and premium (1,586) (1,924) Total mortgages payable, net 339,993 484,111 Notes payable Revolving credit facility — — LIBOR + 0.775% January 19, 2024 Term loan 300,000 400,000 LIBOR + 0.80% April 16, 2024 Various 2,635 3,270 11.31 % Various through 2028 Subtotal 302,635 403,270 Net unamortized debt issuance costs (1,169) (494) Total notes payable, net 301,466 402,776 Senior notes and debentures 2.75% notes 275,000 275,000 2.75 % June 1, 2023 3.95% notes 600,000 600,000 3.95 % January 15, 2024 1.25% notes 400,000 400,000 1.25 % February 15, 2026 7.48% debentures 29,200 29,200 7.48 % August 15, 2026 3.25% notes 475,000 475,000 3.25 % July 15, 2027 6.82% medium term notes 40,000 40,000 6.82 % August 1, 2027 3.20% notes 400,000 400,000 3.20 % June 15, 2029 3.50% notes 400,000 400,000 3.50 % June 1, 2030 4.50% notes 550,000 550,000 4.50 % December 1, 2044 3.625% notes 250,000 250,000 3.625 % August 1, 2046 Subtotal 3,419,200 3,419,200 Net unamortized debt issuance costs and premium (13,112) (14,712) Total senior notes and debentures 3,406,088 3,404,488 Total debt $ 4,047,547 $ 4,291,375 _____________________ 1) On November 26, 2019, we entered into two interest rate swap agreements that fix the interest rate on the mortgage loan at 3.67%. 2) The interest rates on these mortgages range from 3.91% to 5.00%. 3) This mortgage loan has a fixed interest rate, however, the rate resets every five years until maturity. The current interest rate is fixed until July 1, 2022, and the loan is prepayable at par anytime after this date. On April 16, 2021, we repaid $100.0 million of our existing $400.0 million term loan, amended the agreement on the remaining $300.0 million to lower the current spread over LIBOR from 135 basis points to 80 basis points based on our current credit rating, and extended the initial maturity date to April 16, 2024, along with two one-year extensions, at our option. In 2021, we repaid the following mortgage loans, at par, prior to their original maturity date: Property Repayment Date Principal (in millions) Sylmar Towne Center February 5, 2021 $ 16.2 Plaza Del Sol September 1, 2021 $ 7.9 Montrose Crossing October 12, 2021 $ 64.1 The AVENUE at White Marsh November 2, 2021 $ 52.7 During 2021, 2020 and 2019, the maximum amount of borrowings outstanding under our revolving credit facility was $150.0 million, $990.0 million and $116.5 million, respectively. The weighted average amount of borrowings outstanding was $19.6 million, $138.5 million and $26.8 million, respectively, and the weighted average interest rate, before amortization of debt fees, was 0.9%, 1.5% and 3.2%, respectively. The revolving credit facility requires an annual facility fee of $1.0 million. At December 31, 2021 and December 31, 2020, our revolving credit facility had no balance outstanding. Our revolving credit facility, term loan, and certain notes require us to comply with various financial covenants, including the maintenance of minimum shareholders’ equity and debt coverage ratios and a maximum ratio of debt to net worth. As of December 31, 2021, we were in compliance with all default related debt covenants. Scheduled principal payments on mortgages payable, notes payable, senior notes and debentures as of December 31, 2021 are as follows: Mortgages Notes Senior Notes and Total (In thousands) Year ending December 31, 2022 $ 3,351 $ 744 $ — $ 4,095 2023 3,549 758 275,000 279,307 2024 3,688 300,659 (1)(2) 600,000 904,347 2025 48,033 383 — 48,416 2026 26,657 54 429,200 455,911 Thereafter 256,301 37 2,115,000 2,371,338 $ 341,579 $ 302,635 $ 3,419,200 $ 4,063,414 (3) _____________________ (1) Our $300.0 million term loan matures on April 16, 2024 plus two one-year extensions, at our option. (2) Our $1.0 billion revolving credit facility matures on January 19, 2024, plus two six-month extensions at our option. As of December 31, 2021, there was no balance outstanding under this credit facility. (3) The total debt maturities differ from the total reported on the consolidated balance sheet due to the unamortized net debt issuance costs and premium/discount on mortgage loans, notes payable, and senior notes as of December 31, 2021.

Fair Value Of Financial Instrum

Fair Value Of Financial Instruments	12 Months Ended
	Dec. 31, 2021
Fair Value Disclosures [Abstract]
FAIR VALUE OF FINANCIAL INSTRUMENTS	FAIR VALUE OF FINANCIAL INSTRUMENTS A fair value measurement is based on the assumptions that market participants would use in pricing an asset or liability in an orderly transaction. The hierarchy for inputs used in measuring fair value are as follows: 1. Level 1 Inputs—quoted prices in active markets for identical assets or liabilities 2. Level 2 Inputs—observable inputs other than quoted prices in active markets for identical assets and liabilities 3. Level 3 Inputs—prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the level within which the fair value measurement is categorized is based on the lowest level input that is significant to the fair value measurement. Except as disclosed below, the carrying amount of our financial instruments approximates their fair value. The fair value of our mortgages payable, notes payable and senior notes and debentures is sensitive to fluctuations in interest rates. Quoted market prices (Level 1) were used to estimate the fair value of our marketable senior notes and debentures and discounted cash flow analysis (Level 2) is generally used to estimate the fair value of our mortgages and notes payable. Considerable judgment is necessary to estimate the fair value of financial instruments. The estimates of fair value presented herein are not necessarily indicative of the amounts that could be realized upon disposition of the financial instruments. A summary of the carrying amount and fair value of our mortgages payable, notes payable and senior notes and debentures is as follows: December 31, 2021 December 31, 2020 Carrying Fair Value Carrying Fair Value (In thousands) Mortgages and notes payable $ 641,459 $ 655,864 $ 886,887 $ 879,390 Senior notes and debentures $ 3,406,088 $ 3,649,776 $ 3,404,488 $ 3,761,465 As of December 31, 2021, we have two interest rate swap agreements with notional amounts of $56.5 million that are measured at fair value on a recurring basis. The interest rate swap agreements fix the interest rate on $56.5 million of mortgage payables at 3.67% through December 15, 2029. The fair values of the interest rate swap agreements are based on the estimated amounts we would receive or pay to terminate the contracts at the reporting date and are determined using interest rate pricing models and interest rate related observable inputs. The fair value of our swaps at December 31, 2021 was a liability of $1.5 million and is included in "other liabilities and deferred credits" on our consolidated balance sheet. During 2021, the value of our interest rate swaps increased $3.2 million (including $0.9 million reclassified from other comprehensive income to interest expense). A summary of our financial liabilities that are measured at fair value on a recurring basis, by level within the fair value hierarchy is as follows: December 31, 2021 December 31, 2020 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total (In thousands) Interest rate swaps $ — $ (1,511) $ — $ (1,511) $ — $ (4,711) $ — $ (4,711) One of our equity method investees has two interest rate swaps which qualify as cash flow hedges. At December 31, 2021 and December 31, 2020, our share of the change in fair value of the related swaps included in "accumulated other comprehensive loss" was an increase of $0.7 million and a decrease of $0.5 million, respectively.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES We are sometimes involved in lawsuits, warranty claims, and environmental matters arising in the ordinary course of business. Management makes assumptions and estimates concerning the likelihood and amount of any potential loss relating to these matters. We are currently a party to various legal proceedings. We accrue a liability for litigation if an unfavorable outcome is probable and the amount of loss can be reasonably estimated. If an unfavorable outcome is probable and a reasonable estimate of the loss is a range, we accrue the best estimate within the range; however, if no amount within the range is a better estimate than any other amount, the minimum within the range is accrued. Legal fees related to litigation are expensed as incurred. We do not believe that the ultimate outcome of these matters, either individually or in the aggregate, could have a material adverse effect on our financial position or overall trends in results of operations; however, litigation is subject to inherent uncertainties. Also under our leases, tenants are typically obligated to indemnify us from and against all liabilities, costs and expenses imposed upon or asserted against us (1) as owner of the properties due to certain matters relating to the operation of the properties by the tenant, and (2) where appropriate, due to certain matters relating to the ownership of the properties prior to their acquisition by us. We are self-insured for general liability costs up to predetermined retained amounts per claim, and we believe that we maintain adequate accruals to cover our retained liability. We currently do not maintain third party stop-loss insurance policies to cover liability costs in excess of predetermined retained amounts. Our accrual for self-insurance liability is determined by management and is based on claims filed and an estimate of claims incurred but not yet reported. Management considers a number of factors, including third-party actuarial analysis, previous experience in our portfolio, and future increases in costs of claims, when making these determinations. If our liability costs exceed these accruals, it will reduce our net income. We reserve for estimated losses, if any, associated with warranties given to a buyer at the time real estate is sold or other potential liabilities relating to that sale, taking any insurance policies into account. These warranties may extend up to ten years and require significant judgment. If changes in facts and circumstances indicate that warranty reserves are understated, we will accrue additional reserves at such time a liability has been incurred and the costs can be reasonably estimated. Warranty reserves are released once the legal liability period has expired or all related work has been substantially completed. On December 11, 2019, we received proceeds related to the sale under the threat of condemnation at San Antonio Center as discussed in our Annual Report on Form 10-K for the year ended December 31, 2019. We have indemnified the condemning authority for all costs incurred related to the condemnation proceedings including any payments required to tenants at the property and expect the process will take several years to complete. During 2021, we did not incur any payments, and consequently, at December 31, 2021, our liability remains $32.6 million to reflect our estimate of the remaining consideration. At December 31, 2021 and 2020, our reserves for general liability costs were $5.2 million and $4.6 million, respectively, and are included in “accounts payable and accrued expenses” in our consolidated balance sheets. Any potential losses which exceed our estimates would result in a decrease in our net income. During 2021 and 2020, we made payments from these reserves of $1.5 million and $0.8 million, respectively. Although we consider the reserve to be adequate, there can be no assurance that the reserve will prove to be adequate over-time to cover losses due to the difference between the assumptions used to estimate the reserve and actual losses. At December 31, 2021, we had letters of credit outstanding of approximately $4.8 million. As of December 31, 2021 in connection with capital improvement, development, and redevelopment projects, the Trust has contractual obligations of approximately $319.2 million. We are obligated under operating lease agreements on several shopping centers and one office lease requiring minimum annual payments as follows, as of December 31, 2021: (In thousands) Year ending December 31, 2022 $ 5,191 2023 5,278 2024 5,455 2025 5,326 2026 4,831 Thereafter 177,395 Total future minimum operating lease payments 203,476 Less amount representing interest (130,815) Operating lease liabilities $ 72,661 Future minimum lease payments and their present value for properties under finance leases as of December 31, 2021, are as follows: (In thousands) Year ending December 31, 2022 $ 5,810 2023 60,013 2024 1,013 2025 1,013 2026 1,013 Thereafter 79,824 Total future minimum finance lease payments 148,686 Less amount representing interest (76,654) Finance lease liabilities $ 72,032 A master lease for Mercer Mall includes a fixed purchase price option for $55 million in 2023. If we fail to exercise our purchase option, the owner of Mercer Mall has a put option which would require us to purchase Mercer Mall for $60 million in 2025. Under the terms of the Congressional Plaza partnership agreement, a minority partner has the right to require us and the other minority partner to purchase its 26.63% interest in Congressional Plaza at the interest’s then-current fair market value. If the other minority partner defaults in their obligation, we must purchase the full interest. Based on management’s current estimate of fair market value as of December 31, 2021, our estimated maximum liability upon exercise of the put option would range from approximately $67 million to $71 million. A master lease for Melville Mall, as amended on October 14, 2021, includes a fixed price put option at any time prior to June 30, 2025, requiring us to purchase Melville Mall for approximately $3.6 million. Additionally, we have the right to purchase Melville Mall in 2026 for approximately $3.6 million. The consideration is net of a contract amendment fee to be paid by the landlord. Two of the members in Plaza El Segundo have the right to require us to purchase their 10.0% and 11.8% ownership interests at the interests' then-current fair market value. If the members fail to exercise their put options, we have the right to purchase each of their interests on or after December 30, 2026 at fair market value. Based on management’s current estimate of fair market value as of December 31, 2021, our estimated maximum liability upon exercise of the put option would range from approximately $25 million to $28 million. The other member in The Grove at Shrewsbury and Brook 35 has the right to require us to purchase all of its approximately 4.1% interest in The Grove at Shrewsbury and approximately 6.5% interest in Brook 35 at the interests' then-current fair market value. Based on management's current estimate of fair market value as of December 31, 2021, our estimated maximum liability upon exercise of the put option would range from $6 million to $7 million. Effective September 18, 2023, the other member in Hoboken has the right to require us to purchase all of its 10.0% ownership interest at the interest's then-current fair market value. Based on management's current estimate of fair market value as of December 31, 2021, our estimated maximum liability upon exercise of the put option would range from $9 million to $10 million. Effective June 14, 2026, the other member in Cambelback Colonnade and Hilton Village has the right to require us to purchase all of its 2.0% ownership interest at the interest's then-current fair market value. Based on management's current estimate of fair value as of December 31, 2021, our estimated maximum liability upon exercise of the put option would range from $4 million to $5 million. Effective June 1, 2029, the other member in Grossmont Center has the right to require us to purchase all of its 40.0% ownership interest at the interest's then-current fair market value. Based on management's current estimate of fair value as of December 31, 2021, our estimated maximum liability upon exercise of the put option would range from $68 million to $73 million. Under the terms of certain partnership agreements, the partners have the right to exchange their operating partnership units for cash or the same number of our common shares, at our option. A total of 666,831 downREIT operating partnership units are outstanding which have a total fair value of $90.9 million, based on our closing stock price on December 31, 2021.

Shareholders' Equity

Shareholders' Equity	12 Months Ended
	Dec. 31, 2021
Stockholders' Equity Note [Abstract]
SHAREHOLDERS’ EQUITY	SHAREHOLDERS’ EQUITY We have a Dividend Reinvestment Plan (the “Plan”), whereby shareholders may use their dividends and optional cash payments to purchase shares. In 2021, 2020 and 2019, 19,758 shares, 24,491 shares, and 15,909 shares, respectively, were issued under the Plan. As of December 31, 2021, 2020, and 2019, we had 6,000,000 Depositary Shares outstanding, each representing 1/1000th interest of 5.0% Series C Cumulative Redeemable Preferred Share, par value $0.01 per share ("Series C Preferred Shares"), at the liquidation preference of $25.00 per depositary share (or $25,000 per Series C Preferred share). The Series C Preferred Shares accrue dividends at a rate of 5.0% of the $25,000 liquidation preference per year and are redeemable at our option on or after September 29, 2022. Additionally, they are not convertible and holders of these shares generally have no voting rights, unless we fail to pay dividends for six or more quarters. As of December 31, 2021, 2020, and 2019, we had 399,896 shares of 5.417% Series 1 Cumulative Convertible Preferred Shares (“Series 1 Preferred Shares”) outstanding that have a liquidation preference of $25 per share and par value $0.01 per share. The Series 1 Preferred Shares accrue dividends at a rate of 5.417% per year and are convertible at any time by the holders to our common shares at a conversion rate of $104.69 per share. The Series 1 Preferred Shares are also convertible under certain circumstances at our election. The holders of the Series 1 Preferred Shares have no voting rights. On February 24, 2021, we replaced our existing at-the-market (“ATM”) equity program with a new ATM equity program in which we may from time to time offer and sell common shares having an aggregate offering price of up to $500.0 million. On May 7, 2021, we amended this ATM equity program, which resets the limit to $500.0 million. The new ATM equity program also allows shares to be sold through forward sales contracts. We intend to use the net proceeds to fund potential acquisition opportunities, fund our development and redevelopment pipeline, repay indebtedness and/or for general corporate purposes. For the year ended December 31, 2021, we issued 847,471 common shares at a weighted average price per share of $104.19 for net cash proceeds of $87.0 million including paying $0.9 million in commissions and $0.4 million in additional offering expenses related to the sales of these common shares. For the year ended December 31, 2020, we issued 1,080,804 common shares at a weighted average price per share of $92.51 for net cash proceeds of $98.8 million and paid $1.0 million in commissions and $0.1 million in additional offering expenses related to the sales of these common shares. We also entered into forward sales contracts for the year ended December 31, 2021 for 2,999,955 common shares under our ATM equity program at a weighted average offering price of $120.22. During 2021, we settled a portion of the forward sales agreements entered into during the year by issuing 796,300 common shares for net proceeds of $85.7 million. The forward price that we will receive upon physical settlement of the remaining forward sale agreements is subject to the adjustment for (i) commissions, (ii) a floating interest rate factor equal to a specified daily rate less a spread, (iii) the forward purchasers' stock borrowing costs and (iv) scheduled dividends during the term of the forward sale agreements. The remaining open forward shares may be settled at any time on or before multiple required settlement dates ranging from June 2022 to December 2022. As of December 31, 2021, we had the capacity to issue up to $175.0 million in common shares under our ATM equity program.

Dividends

Dividends	12 Months Ended
	Dec. 31, 2021
Dividends [Abstract]
DIVIDENDS	DIVIDENDS The following table provides a summary of dividends declared and paid per share: Year Ended December 31, 2021 2020 2019 Declared Paid Declared Paid Declared Paid Common shares $ 4.260 $ 4.250 $ 4.220 $ 4.210 $ 4.140 $ 4.110 5.417% Series 1 Cumulative Convertible Preferred shares $ 1.354 $ 1.354 $ 1.354 $ 1.354 $ 1.354 $ 1.354 5.0% Series C Cumulative Redeemable Preferred shares (1) $ 1.250 $ 1.250 $ 1.250 $ 1.250 $ 1.250 $ 1.250 (1) Amount represents dividends per depositary share, each representing 1/1000th of a share. A summary of the income tax status of dividends per share paid is as follows: Year Ended December 31, 2021 2020 2019 Common shares Ordinary dividend $ 3.358 $ 3.452 $ 4.110 Capital gain 0.680 — — Return of capital 0.212 0.758 — $ 4.250 $ 4.210 $ 4.110 5.417% Series 1 Cumulative Convertible Preferred shares Ordinary dividend $ 1.124 $ 1.354 $ 1.354 Capital gain 0.230 — — $ 1.354 $ 1.354 $ 1.354 5.0% Series C Cumulative Redeemable Preferred shares Ordinary dividend $ 1.038 $ 1.250 1.250 Capital gain 0.212 — — $ 1.250 $ 1.250 $ 1.250 On November 4, 2021, the Trustees declared a quarterly cash dividend of $1.07 per common share, payable January 18, 2022 to common shareholders of record on January 3, 2022.

Operating Leases

Operating Leases	12 Months Ended
	Dec. 31, 2021
Leases [Abstract]
OPERATING LEASES	LEASES At December 31, 2021, our 104 predominantly retail shopping center and mixed-use properties are located in 12 states and the District of Columbia. There are approximately 3,100 commercial leases and 3,000 residential leases. Our commercial tenants range from sole proprietorships to national retailers and corporations. At December 31, 2021, no one tenant or corporate group of tenants accounted for more than 2.7% of annualized base rent. Our leases with commercial property and residential tenants are classified as operating leases. Commercial property leases generally range from three to ten years (certain leases with anchor tenants may be longer), and in addition to minimum rents, may provide for percentage rents based on the tenant’s level of sales achieved and cost recoveries for the tenant’s share of certain operating costs. Leases on apartments are generally for a period of 1 year or less. As of December 31, 2021, future minimum rentals from noncancelable commercial operating leases (excluding both tenant reimbursements of operating expenses and percentage rent based on tenants' sales) are as follows: (In thousands) Year ending December 31, 2022 $ 634,134 2023 596,004 2024 531,652 2025 447,549 2026 376,692 Thereafter 1,675,278 $ 4,261,309 The following table provides additional information on our operating and finance leases where we are the lessee: Year Ended December 31, 2021 2020 2019 (In thousands) LEASE COST: Finance lease cost: Amortization of right-of-use assets $ 1,284 $ 1,284 $ 1,284 Interest on lease liabilities 5,828 5,826 5,824 Operating lease cost 5,687 5,946 6,063 Variable lease cost 246 353 487 Total lease cost $ 13,045 $ 13,409 $ 13,658 OTHER INFORMATION: Cash paid for amounts included in the measurement of lease liabilities Operating cash flows for finance leases $ 5,723 $ 5,736 $ 5,759 Operating cash flows for operating leases $ 5,288 $ 5,498 $ 5,561 Financing cash flows for finance leases $ 51 $ 46 $ 47 December 31, 2021 2020 Weighted-average remaining term - finance leases 16.3 years 17.3 years Weighted-average remaining term - operating leases 52.8 years 53.4 years Weighted-average discount rate - finance leases 8.0 % 8.0 % Weighted-average discount rate - operating leases 4.5 % 4.4 % ROU assets obtained in exchange for operating lease liabilities $ 10,341 $ 855

Components Of Rental Expense

Components Of Rental Expense	12 Months Ended
	Dec. 31, 2021
Components Of Rental Expense [Abstract]
COMPONENTS OF RENTAL EXPENSE	COMPONENTS OF RENTAL EXPENSES The principal components of rental expenses are as follows: Year Ended December 31, 2021 2020 2019 (In thousands) Repairs and maintenance $ 78,028 $ 66,845 $ 73,179 Utilities 27,808 25,065 27,729 Management fees and costs 24,919 23,752 24,930 Payroll 18,341 16,691 16,485 Insurance 14,406 12,439 9,036 Marketing 7,481 6,432 7,427 Ground rent 4,571 4,595 4,803 Other operating (1) 22,567 15,101 24,242 Total rental expenses $ 198,121 $ 170,920 $ 187,831 _____________________ (1) Other operating for the year ended December 31, 2019 includes an $11.9 million charge relating to the buyout of a lease at Assembly Square Marketplace.

Share-Based Compensation Plans

Share-Based Compensation Plans	12 Months Ended
	Dec. 31, 2021
Share-based Payment Arrangement [Abstract]
SHARE-BASED COMPENSATION PLANS	SHARE-BASED COMPENSATION PLANS A summary of share-based compensation expense included in net income is as follows: Year Ended December 31, 2021 2020 2019 (In thousands) Grants of common shares and options $ 14,434 $ 13,243 $ 13,330 Capitalized share-based compensation (1,425) (1,319) (1,054) Share-based compensation expense $ 13,009 $ 11,924 $ 12,276 As of December 31, 2021, we have grants outstanding under two share-based compensation plans. In May 2020, our shareholders approved the 2020 Performance Incentive Plan ("the 2020 Plan"), which authorized the grant of share options, common shares, and other share-based awards for up to 1,750,000 common shares of beneficial interest. Our 2010 Long Term Incentive Plan, as amended (the "2010 Plan”), which expired in May 2020, authorized the grant of share options, common shares and other share-based awards for up to 2,450,000 common shares of beneficial interest. Option awards under the plans are required to have an exercise price at least equal to the closing trading price of our common shares on the date of grant. Options and restricted share awards under the plan generally vest over three to seven years and option awards typically have a ten-year contractual term. We pay dividends on unvested shares. Certain options and share awards provide for accelerated vesting if there is a change in control. Additionally, the vesting on certain option and share awards can accelerate in part or in full upon termination without cause. The fair value of each option award is estimated on the date of grant using the Black-Scholes model. Expected volatilities, term, dividend yields, employee exercises and estimated forfeitures are primarily based on historical data. The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of grant. The fair value of each share award is determined based on the closing trading price of our common shares on the grant date. No options were granted in 2020 and 2019. The following table provides a summary of the assumptions used to value options granted in 2021: Year Ended December 31, 2021 Volatility 29.3 % Expected dividend yield 4.1 % Expected term (in years) 7.5 Risk free interest rate 0.9 % The weighted-average grant-date fair value of options granted in 2021 was $16.40 per share. The following table provides a summary of option activity for 2021: Shares Weighted- Weighted- Aggregate (In years) (In thousands) Outstanding at December 31, 2020 682 $ 152.34 Granted 3,658 95.77 Exercised — — Forfeited or expired (682) 152.34 Outstanding at December 31, 2021 3,658 $ 95.77 9.1 $ 148 Exercisable at December 31, 2021 — $ — — $ — The following table provides a summary of restricted share activity for 2021: Shares Weighted-Average Unvested at December 31, 2020 233,178 $ 127.32 Granted 166,746 97.46 Vested (108,735) 121.77 Forfeited (2,193) 112.05 Unvested at December 31, 2021 288,996 $ 112.29 The weighted-average grant-date fair value of stock awarded in 2021, 2020 and 2019 was $97.46, $124.55 and $133.30, respectively. The total vesting-date fair value of shares vested during the year ended December 31, 2021, 2020 and 2019, was $11.0 million, $12.4 million and $13.0 million, respectively. On February 10, 2021, 10,441 restricted stock units were awarded to an officer that vest at the end of four years. The final awards earned are based on meeting certain market based performance criteria, and may vary from 0% to 200% of the original award. The weighted-average grant-date fair value of stock awarded in 2021 was $97.01. The following table provides a summary of restricted stock unit activity for 2021: Shares Weighted-Average Unvested at December 31, 2020 — $ — Granted 10,441 97.01 Vested — — Forfeited — — Unvested at December 31, 2021 10,441 $ 97.01 As of December 31, 2021, there was $20.0 million of total unrecognized compensation cost related to unvested share-based compensation arrangements (i.e. options and unvested shares) granted under our plans. This cost is expected to be recognized over the next 4.6 years with a weighted-average period of 2.3 years. Subsequent to December 31, 2021, common shares were awarded under various compensation plans as follows: Date Award Vesting Term Beneficiary January 3, 2022 5,135 Shares Immediate Trustees February 9, 2022 103,463 Restricted Shares 3-5 years Officers and key employees

Savings and Retirement Plans

Savings and Retirement Plans	12 Months Ended
	Dec. 31, 2021
Savings and Retirement Plans [Abstract]
SAVINGS AND RETIREMENT PLANS	SAVINGS AND RETIREMENT PLANS We have a savings and retirement plan in accordance with the provisions of Section 401(k) of the Code. Generally, employees can elect, at their discretion, to contribute a portion of their compensation up to a maximum of $19,500 for 2021 and 2020, and 19,000 for 2019. Under the plan, we contribute 50% of each employee’s elective deferrals up to 5% of eligible earnings. In addition, we may make discretionary contributions within the limits of deductibility set forth by the Code. Our full-time employees are immediately eligible to become plan participants. Employees are eligible to receive matching contributions immediately on their participation; however, these matching payments will not vest until their third anniversary of employment. Our expense for the years ended December 31, 2021, 2020 and 2019 was approximately $816,000, $813,000 and $764,000, respectively. A non-qualified deferred compensation plan for our officers and certain other employees was established in 1994 that allows the participants to defer a portion of their income. As of December 31, 2021 and 2020, we are liable to participants for approximately $21.0 million and $18.0 million, respectively, under this plan. Although this is an unfunded plan, we have purchased certain investments to match this obligation. Our obligation under this plan and the related investments are both included in the accompanying consolidated financial statements.

Earnings Per Share

Earnings Per Share	12 Months Ended
	Dec. 31, 2021
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE We have calculated earnings per share (“EPS”) under the two-class method. The two-class method is an earnings allocation methodology whereby EPS for each class of common stock and participating securities is calculated according to dividends declared and participation rights in undistributed earnings. For 2021 we had 0.3 million, and for 2020 and 2019 we had 0.2 million weighted average unvested shares outstanding, respectively, which are considered participating securities. Therefore, we have allocated our earnings for basic and diluted EPS between common shares and unvested shares; the portion of earnings allocated to the unvested shares is reflected as “earnings allocated to unvested shares” in the reconciliation below. The following potentially issuable shares were excluded from the diluted EPS calculation because their impact is anti-dilutive: • exercise of 682 stock options in 2020 and 2019, respectively, • conversions of downREIT operating partnership units and 5.417% Series 1 Cumulative Convertible Preferred Shares for 2021, 2020, and 2019, respectively, and • the issuance of 1.8 million shares issuable under forward sales agreements in 2021. Additionally, 10,441 unvested restricted stock units are excluded from the diluted EPS calculation as the market based performance criteria in the award has not yet been achieved. Year Ended December 31, 2021 2020 2019 (In thousands, except per share data) NUMERATOR Net income $ 269,081 $ 135,888 $ 360,542 Less: Preferred share dividends (8,042) (8,042) (8,042) Less: Income from operations attributable to noncontrolling interests (7,583) (4,182) (6,676) Less: Earnings allocated to unvested shares (1,211) (992) (1,007) Net income available for common shareholders, basic and diluted $ 252,245 $ 122,672 $ 344,817 DENOMINATOR Weighted average common shares outstanding—basic 77,336 75,515 74,766 Effect of dilutive securities: Open forward contracts for share issuances 32 — — Weighted average common shares outstanding—diluted 77,368 75,515 74,766 EARNINGS PER COMMON SHARE, BASIC Net income available for common shareholders $ 3.26 $ 1.62 $ 4.61 EARNINGS PER COMMON SHARE, DILUTED Net income available for common shareholders $ 3.26 $ 1.62 $ 4.61

Subsequent Event

Subsequent Event	12 Months Ended
	Dec. 31, 2021
Subsequent Event [Line Items]
Subsequent Event	SUBSEQUENT EVENTSIn January of 2022, we completed the UPREIT reorganization described in the Explanatory Note at the beginning of this Annual Report. Prior to the UPREIT Reorganization, our business was conducted through the Predecessor. This Annual Report pertains to the business and results of operations of the Predecessor for its fiscal year ended December 31, 2021. As a result of the UPREIT reorganization, the Parent Company became the successor issuer to the Predecessor under the Exchange Act. The Parent Company and the Partnership have elected to co-file this Annual Report of the Predecessor to ensure continuity of information to investors. For additional information on our UPREIT reorganization, please see our Current Reports on Form 8-K filed with the SEC on January 3, 2022 and January 5, 2022.

Schedule III - Summary of Real

Schedule III - Summary of Real Estate and Accumulated Depreciation	12 Months Ended
	Dec. 31, 2021
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]
Schedule III - Summary of Real Estate and Accumulated Depreciation	FEDERAL REALTY INVESTMENT TRUST SCHEDULE III SUMMARY OF REAL ESTATE AND ACCUMULATED DEPRECIATION DECEMBER 31, 2021 (Dollars in thousands) COLUMN A COLUMN B COLUMN C COLUMN D COLUMN E COLUMN F COLUMN G COLUMN H COLUMN I Descriptions Encumbrance Initial cost to company Cost Gross amount at which carried at Accumulated Date Date Life on which Land Building and Land Building and Total 29TH PLACE (Virginia) $ 10,211 $ 18,863 $ 11,035 $ 10,195 $ 29,914 $ 40,109 $ 15,312 1975 - 2001 5/30/2007 (1) ANDORRA (Pennsylvania) 2,432 12,346 18,458 2,432 30,804 33,236 22,053 1953 1/12/1988 (1) ASSEMBLY ROW/ASSEMBLY SQUARE MARKETPLACE (Massachusetts) 93,252 34,196 951,169 69,421 1,009,196 1,078,617 107,931 2005, 2012-2021 2005-2013 (1) AZALEA (California) 39,800 40,219 67,117 628 40,219 67,745 107,964 11,036 2014 8/2/2017 (1) BALA CYNWYD (Pennsylvania) 3,565 14,466 48,471 2,683 63,819 66,502 29,407 1955/2020 9/22/1993 (1) BARCROFT PLAZA (Virginia) 12,617 29,603 7,968 12,617 37,571 50,188 7,320 1963, 1972, 1990, & 2000 1/13/16 & 11/7/16 (1) BARRACKS ROAD (Virginia) 4,363 16,459 49,352 4,363 65,811 70,174 50,852 1958 12/31/1985 (1) BELL GARDENS (California) 11,861 24,406 85,947 1,929 24,406 87,876 112,282 18,619 1990, 2003, 2006 8/2/17 & 11/29/18 (1) BETHESDA ROW (Maryland) 46,579 35,406 168,421 43,904 206,502 250,406 99,202 1945-2008 12/31/93, 6/2/97, 1/20/06, 9/25/08, 9/30/08, & 12/27/10 (1) BIRCH & BROAD (formerly known as Falls Plaza) (Virginia) 1,798 1,270 20,876 1,819 22,125 23,944 9,741 1960/1962 9/30/67 & 10/05/72 (1) BRICK PLAZA (New Jersey) — 24,715 79,632 4,094 100,253 104,347 60,075 1958 12/28/1989 (1) BRISTOL PLAZA (Connecticut) 3,856 15,959 15,398 3,856 31,357 35,213 20,652 1959 9/22/1995 (1) BROOK 35 (New Jersey) 11,345 7,128 38,355 4,722 7,128 43,077 50,205 11,296 1986/2004 1/1/2014 (1) CAMELBACK COLONNADE (Arizona) 52,658 126,646 49 52,658 126,695 179,353 2,655 1977/2019 6/14/2021 (1) CAMPUS PLAZA (Massachusetts) 16,710 13,412 433 16,710 13,845 30,555 3,381 1970 1/13/2016 (1) CHELSEA COMMONS (Massachusetts) 4,692 8,689 19,466 2,439 8,669 21,925 30,594 9,596 1962/1969/ 8/25/06, 1/30/07, & 7/16/08 (1) CHESTERBROOK (Virginia) 13,042 24,725 509 13,042 25,234 38,276 594 1967/1991 4/30/21 (1) FEDERAL REALTY INVESTMENT TRUST SCHEDULE III SUMMARY OF REAL ESTATE AND ACCUMULATED DEPRECIATION DECEMBER 31, 2021 (Dollars in thousands) COLUMN A COLUMN B COLUMN C COLUMN D COLUMN E COLUMN F COLUMN G COLUMN H COLUMN I Descriptions Encumbrance Initial cost to company Cost Gross amount at which carried at Accumulated Date Date Life on which Land Building and Land Building and Total COCOWALK (Florida) 32,513 71,536 87,188 48,944 142,293 191,237 16,485 1990/1994, 1922-1973, 2018-2021 5/4/15, 7/1/15, 12/16/15, 7/26/16, 6/30/17, & 8/10/17 (1) COLORADO BLVD (California) 2,415 3,964 7,109 2,415 11,073 13,488 9,715 1905-1988 8/14/98 (1) CONGRESSIONAL PLAZA (Maryland) 2,793 7,424 97,556 2,793 104,980 107,773 63,539 1965/2003/2016 4/1/1965 (1) COURTHOUSE CENTER (Maryland) 1,750 1,869 3,497 1,750 5,366 7,116 3,141 1975 12/17/1997 (1) CROSSROADS (Illinois) 4,635 11,611 19,769 4,635 31,380 36,015 21,669 1959 7/19/1993 (1) CROW CANYON COMMONS (California) 27,245 54,575 8,854 27,245 63,429 90,674 30,337 Late 1970's/ 12/29/05 & 2/28/07 (1) DARIEN COMMONS (Connecticut) 30,368 19,523 48,601 30,368 68,124 98,492 3,561 1920-2009 4/3/13 & 7/20/18 (1) DEDHAM PLAZA (Massachusetts) 16,658 13,964 17,152 16,658 31,116 47,774 19,358 1959 12/31/93, 12/14/16, 1/29/19, & 3/12/19 (1) DEL MAR VILLAGE (Florida) 15,624 41,712 16,886 15,587 58,635 74,222 28,150 1982/1994/ 2007 5/30/08, 7/11/08, & 10/14/14 (1) EAST BAY BRIDGE (California) 29,069 138,035 12,354 29,069 150,389 179,458 46,612 1994-2001, 2011/2012 12/21/2012 (1) ELLISBURG (New Jersey) 4,028 11,309 20,737 4,013 32,061 36,074 22,684 1959 10/16/1992 (1) ESCONDIDO PROMENADE (California) 19,117 15,829 19,823 19,117 35,652 54,769 22,092 1987 12/31/96 & 11/10/10 (1) FAIRFAX JUNCTION (Virgina) 16,768 23,825 1,216 16,768 25,041 41,809 2,724 1981/1986/ 2000 2/8/19 & 1/10/20 (1) FEDERAL PLAZA (Maryland) 10,216 17,895 43,788 10,216 61,683 71,899 50,473 1970 6/29/1989 (1) FINLEY SQUARE (Illinois) 9,252 9,544 22,953 9,252 32,497 41,749 24,386 1974 4/27/1995 (1) FLOURTOWN (Pennsylvania) 1,345 3,943 11,910 1,507 15,691 17,198 7,851 1957 4/25/1980 (1) FOURTH STREET (California) 13,978 9,909 3,345 13,978 13,254 27,232 2,627 1948,1975 5/19/2017 (1) FREEDOM PLAZA (California) — 3,255 40,620 — 43,875 43,875 1,820 2018-2020 6/15/2018 (1) FEDERAL REALTY INVESTMENT TRUST SCHEDULE III SUMMARY OF REAL ESTATE AND ACCUMULATED DEPRECIATION DECEMBER 31, 2021 (Dollars in thousands) COLUMN A COLUMN B COLUMN C COLUMN D COLUMN E COLUMN F COLUMN G COLUMN H COLUMN I Descriptions Encumbrance Initial cost to company Cost Gross amount at which carried at Accumulated Date Date Life on which Land Building and Land Building and Total FRESH MEADOWS (New York) 24,625 25,255 44,201 24,633 69,448 94,081 48,793 1946-1949 12/5/1997 (1) FRIENDSHIP CENTER (District of Columbia) 12,696 20,803 2,966 12,696 23,769 36,465 14,158 1998 9/21/2001 (1) GAITHERSBURG SQUARE (Maryland) 7,701 5,271 23,999 5,973 30,998 36,971 19,397 1966 4/22/1993 (1) GARDEN MARKET (Illinois) 2,677 4,829 7,305 2,677 12,134 14,811 9,636 1958 7/28/1994 (1) GEORGETOWNE SHOPPING CENTER (New York) 32,202 49,586 2,728 32,202 52,314 84,516 3,841 1969/2006/ 2015 11/15/19 (1) GOVERNOR PLAZA (Maryland) 2,068 4,905 19,619 2,068 24,524 26,592 21,877 1963 10/1/1985 (1) GRAHAM PARK PLAZA (Virginia) 642 7,629 15,155 653 22,773 23,426 18,267 1971 7/21/1983 (1) GRATIOT PLAZA (Michigan) 525 1,601 18,168 525 19,769 20,294 18,232 1964 3/29/1973 (1) GREENLAWN PLAZA (New York) 10,590 20,869 1,278 10,730 22,007 32,737 5,089 1975/2004 1/13/2016 (1) GREENWICH AVENUE (Connecticut) 7,484 5,445 10,819 7,484 16,264 23,748 6,120 1968 4/12/1995 (1) GROSSMONT CENTER (California) 125,434 50,311 173 125,434 50,484 175,918 2,093 1961, 1963, 1982-1983, 2002 6/1/2021 (1) HASTINGS RANCH PLAZA (California) 2,257 22,393 1,055 2,257 23,448 25,705 3,812 1958, 1984, 2006, 2007 2/1/2017 (1) HAUPPAUGE (New York) 8,791 15,262 9,789 8,420 25,422 33,842 14,452 1963 8/6/1998 (1) HILTON VILLAGE (Arizona) — 40,079 28 — 40,107 40,107 772 1982/1989 6/14/21 (1) HOBOKEN (New Jersey) 104,704 47,460 167,835 1,075 47,462 168,908 216,370 11,389 1887-2006 9/18/19, 11/26/19, 12/19/19, & 2/12/20 (1) HOLLYWOOD BLVD (California) 8,300 16,920 36,635 8,370 53,485 61,855 20,813 1929/1991 3/22/99 & 6/18/99 (1) HUNTINGTON (New York) 12,194 16,008 23,585 12,294 39,493 51,787 17,564 1962 12/12/88, 10/26/07, & 11/24/15 (1) HUNTINGTON SQUARE (New York) — 10,075 3,621 506 13,190 13,696 5,281 1980/2004-2007 8/16/2010 (1) IDYLWOOD PLAZA (Virginia) 4,308 10,026 3,212 4,308 13,238 17,546 10,526 1991 4/15/1994 (1) KINGS COURT (California) — 10,714 896 — 11,610 11,610 10,410 1960 8/24/1998 (1) LANCASTER (Pennsylvania) — 2,103 6,291 432 7,962 8,394 6,230 1958 4/24/1980 (1) FEDERAL REALTY INVESTMENT TRUST SCHEDULE III SUMMARY OF REAL ESTATE AND ACCUMULATED DEPRECIATION DECEMBER 31, 2021 (Dollars in thousands) COLUMN A COLUMN B COLUMN C COLUMN D COLUMN E COLUMN F COLUMN G COLUMN H COLUMN I Descriptions Encumbrance Initial cost to company Cost Gross amount at which carried at Accumulated Date Date Life on which Land Building and Land Building and Total LANGHORNE SQUARE (Pennsylvania) 720 2,974 20,100 720 23,074 23,794 17,855 1966 1/31/1985 (1) LAUREL (Maryland) 7,458 22,525 30,379 7,503 52,859 60,362 42,998 1956 8/15/1986 (1) LAWRENCE PARK (Pennsylvania) 6,150 8,491 36,084 6,161 44,564 50,725 24,724 1972 7/23/1980 & 4/3/17 (1) LINDEN SQUARE (Massachusetts) 79,382 19,247 52,762 79,346 72,045 151,391 31,683 1960-2008 8/24/2006 (1) MELVILLE MALL (New York) 35,622 32,882 36,295 35,622 69,177 104,799 22,365 1974 10/16/2006 (1) MERCER MALL (New Jersey) 5,917 18,358 49,175 5,869 67,581 73,450 37,855 1975 10/14/03 & 1/31/17 (1) MONTROSE CROSSING (Maryland) 48,624 91,819 27,521 48,624 119,340 167,964 39,706 1960s, 1970s, 1996 & 2011 12/27/11 & 12/19/13 (1) MOUNT VERNON/SOUTH VALLEY/7770 RICHMOND HWY. (Virginia) 15,769 33,501 43,993 15,851 77,412 93,263 44,668 1966/1972/ 1987/2001 3/31/03, 3/21/03, & 1/27/06 (1) NORTH DARTMOUTH (Massachusetts) 9,366 — 3 9,366 3 9,369 2 2004 8/24/2006 (1) NORTHEAST (Pennsylvania) 938 8,779 24,719 939 33,497 34,436 21,263 1959 8/30/1983 (1) OLD KEENE MILL (Virginia) 638 998 11,550 638 12,548 13,186 7,002 1968 6/15/1976 (1) OLD TOWN CENTER (California) 3,420 2,765 32,909 3,420 35,674 39,094 24,723 1962, 1997-1998 10/22/1997 (1) OLIVO AT MISSION HILLS (California) 15,048 46,732 20,441 15,048 67,173 82,221 6,614 2017-2018 8/2/2017 (1) PAN AM (Virginia) 8,694 12,929 8,873 8,695 21,801 30,496 17,516 1979 2/5/1993 (1) PENTAGON ROW (Virginia) — 2,955 103,692 — 106,647 106,647 56,156 1999 - 2002 1998 & 11/22/10 (1) PERRING PLAZA (Maryland) 2,800 6,461 26,626 2,800 33,087 35,887 25,356 1963 10/1/1985 (1) PIKE & ROSE (Maryland) 31,471 10,335 682,962 33,716 691,052 724,768 83,746 1963, 2012-2021 5/18/82, 10/26/07, & 7/31/12 (1) PIKE 7 PLAZA (Virginia) 14,970 22,799 13,142 14,914 35,997 50,911 20,740 1968 3/31/97 & 7/8/15 (1) PLAZA DEL MERCADO (Maryland) 10,305 21,553 15,114 10,305 36,667 46,972 8,763 1969 1/13/2016 (1) PLAZA DEL SOL (California) 5,605 12,331 (55) 5,605 12,276 17,881 1,882 2009 8/2/2017 (1) FEDERAL REALTY INVESTMENT TRUST SCHEDULE III SUMMARY OF REAL ESTATE AND ACCUMULATED DEPRECIATION DECEMBER 31, 2021 (Dollars in thousands) COLUMN A COLUMN B COLUMN C COLUMN D COLUMN E COLUMN F COLUMN G COLUMN H COLUMN I Descriptions Encumbrance Initial cost to company Cost Gross amount at which carried at Accumulated Date Date Life on which Land Building and Land Building and Total PLAZA EL SEGUNDO/THE POINT (California) 124,521 62,127 153,556 84,287 64,788 235,182 299,970 68,627 2006/2007/ 2016 12/30/11, 6/14/13, 7/26/13, & 12/27/13 (1) QUEEN ANNE PLAZA (Massachusetts) 3,319 8,457 6,827 3,319 15,284 18,603 11,427 1967 12/23/1994 (1) QUINCE ORCHARD (Maryland) 3,197 7,949 29,995 2,928 38,213 41,141 25,984 1975 4/22/1993 (1) RIVERPOINT CENTER (Illinois) 15,422 104,572 1,609 15,422 106,181 121,603 16,197 1989, 2012 3/31/2017 (1) ROCKVILLE TOWN SQUARE (Maryland) — 8,092 36,927 — 45,019 45,019 20,165 2005 - 2007 2006 - 2007 (1) ROLLINGWOOD APTS. (Maryland) 552 2,246 10,695 774 12,719 13,493 10,529 1960 1/15/1971 (1) SAN ANTONIO CENTER (California) 26,400 18,462 3,268 26,400 21,730 48,130 5,408 1958, 1964-1965, 1974-1975, 1995-1997 1/9/2015, 9/13/19 (1) SANTANA ROW (California) 66,682 7,502 1,172,412 57,592 1,189,004 1,246,596 268,804 1999-2006, 2009, 2011, 2014, 2016-2021 3/5/97, 7/13/12, 9/6/12, 4/30/13 & 9/23/13 (1) SYLMAR TOWNE CENTER (California) 18,522 24,637 2,964 18,522 27,601 46,123 3,936 1973 8/2/2017 (1) THE AVENUE AT WHITE MARSH (Maryland) 20,682 72,432 30,635 20,685 103,064 123,749 45,759 1997 3/8/2007 (1) THE GROVE AT SHREWSBURY (New Jersey) 43,070 18,016 103,115 7,759 18,021 110,869 128,890 28,225 1988/1993/ 2007 1/1/2014 & 10/6/14 (1) THE SHOPPES AT NOTTINGHAM SQUARE (Maryland) 4,441 12,849 1,446 4,441 14,295 18,736 6,961 2005 - 2006 3/8/2007 (1) THIRD STREET PROMENADE (California) 22,645 12,709 52,419 25,125 62,648 87,773 36,265 1888-2000 1996-2000 (1) TOWER SHOPPNG CENTER (Virginia) 7,170 10,518 5,210 7,280 15,618 22,898 11,009 1953-1960 8/24/1998 (1) TOWER SHOPS (Florida) 29,940 43,390 27,794 29,962 71,162 101,124 26,237 1989, 2017 1/19/11 & 6/13/14 (1) TOWN CENTER OF NEW BRITAIN (Pennsylvania) 1,282 12,285 3,358 1,693 15,232 16,925 7,047 1969 6/29/2006 (1) TOWSON RESIDENTIAL (FLATS 703) (Maryland) 2,328 — 20,092 2,328 20,092 22,420 2,703 2016-2017 3/8/2007 (1) FEDERAL REALTY INVESTMENT TRUST SCHEDULE III SUMMARY OF REAL ESTATE AND ACCUMULATED DEPRECIATION DECEMBER 31, 2021 (Dollars in thousands) COLUMN A COLUMN B COLUMN C COLUMN D COLUMN E COLUMN F COLUMN G COLUMN H COLUMN I Descriptions Encumbrance Initial cost to company Cost Gross amount at which carried at Accumulated Date Date Life on which Land Building and Land Building and Total TROY HILLS (New Jersey) 3,126 5,193 32,847 5,865 35,301 41,166 25,111 1966 7/23/1980 (1) TWINBROOKE SHOPPING CENTRE (Virginia) 16,484 18,898 57 16,484 18,955 35,439 263 1977 9/2/2021 (1) TYSON'S STATION (Virginia) 388 453 5,241 493 5,589 6,082 4,238 1954 1/17/1978 (1) VILLAGE AT SHIRLINGTON (Virginia) 9,761 14,808 39,526 4,234 59,861 64,095 33,277 1940, 2006-2009 12/21/1995 (1) WESTGATE CENTER (California) 6,319 107,284 44,549 6,319 151,833 158,152 72,593 1960-1966 3/31/2004 (1) WHITE MARSH PLAZA (Maryland) 3,478 21,413 1,674 3,514 23,051 26,565 11,094 1987 3/8/2007 (1) WHITE MARSH OTHER (Maryland) 28,809 — 77 28,839 47 28,886 — 1985 3/8/2007 (1) WILDWOOD (Maryland) 9,111 1,061 17,219 9,111 18,280 27,391 10,298 1958 5/5/1969 (1) WILLOW GROVE (Pennsylvania) 1,499 6,643 23,943 1,499 30,586 32,085 22,653 1953 11/20/1984 (1) WILLOW LAWN (Virginia) 3,192 7,723 94,318 7,790 97,443 105,233 67,685 1957 12/5/1983 (1) WYNNEWOOD (Pennsylvania) 8,055 13,759 21,055 8,055 34,814 42,869 27,285 1948 10/29/1996 (1) TOTALS $ 339,993 $ 1,585,097 $ 2,725,032 $ 5,111,933 $ 1,578,280 $ 7,843,782 $ 9,422,062 $ 2,531,095 (1) Depreciation of building and improvements is calculated based on useful lives ranging from the life of the lease to 50 years. Balance, December 31, 2018 $ 7,819,472 January 1, 2019 adoption of new accounting standard - See Note 2 (71,859) Additions during period Acquisitions 309,921 Improvements 441,703 Deduction during period—dispositions and retirements of property (201,105) Balance, December 31, 2019 8,298,132 Additions during period Acquisitions 39,440 Improvements 473,679 Deductions during period Impairment of property (68,484) Dispositions and retirements of property (159,897) Balance, December 31, 2020 8,582,870 Additions during period Acquisitions 519,350 Improvements 424,521 Deduction during period—dispositions and retirements of property (104,679) Balance, December 31, 2021 (1) $ 9,422,062 _____________________ (1) For Federal tax purposes, the aggregate cost basis is approximately $8.4 billion as of December 31, 2021. FEDERAL REALTY INVESTMENT TRUST SCHEDULE III SUMMARY OF REAL ESTATE AND ACCUMULATED DEPRECIATION - CONTINUED Three Years Ended December 31, 2021 Reconciliation of Accumulated Depreciation and Amortization (In thousands) Balance, December 31, 2018 $ 2,059,143 January 1, 2019 adoption of new accounting standard - See Note 2 (18,173) Additions during period—depreciation and amortization expense 215,382 Deductions during period—dispositions and retirements of property (40,939) Balance, December 31, 2019 2,215,413 Additions during period—depreciation and amortization expense 229,199 Deductions during period Impairment of property (11,631) Dispositions and retirements of property (75,289) Balance, December 31, 2020 2,357,692 Additions during period—depreciation and amortization expense 246,338 Deductions during period -dispositions and retirements of property (72,935) Balance, December 31, 2021 $ 2,531,095

Schedule III Part II - Summary

Schedule III Part II - Summary of Real Estate and Accumulated Depreciation	12 Months Ended
	Dec. 31, 2021
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]
Schedule III - Summary of Real Estate and Accumulated Depreciation	FEDERAL REALTY INVESTMENT TRUST SCHEDULE III SUMMARY OF REAL ESTATE AND ACCUMULATED DEPRECIATION DECEMBER 31, 2021 (Dollars in thousands) COLUMN A COLUMN B COLUMN C COLUMN D COLUMN E COLUMN F COLUMN G COLUMN H COLUMN I Descriptions Encumbrance Initial cost to company Cost Gross amount at which carried at Accumulated Date Date Life on which Land Building and Land Building and Total 29TH PLACE (Virginia) $ 10,211 $ 18,863 $ 11,035 $ 10,195 $ 29,914 $ 40,109 $ 15,312 1975 - 2001 5/30/2007 (1) ANDORRA (Pennsylvania) 2,432 12,346 18,458 2,432 30,804 33,236 22,053 1953 1/12/1988 (1) ASSEMBLY ROW/ASSEMBLY SQUARE MARKETPLACE (Massachusetts) 93,252 34,196 951,169 69,421 1,009,196 1,078,617 107,931 2005, 2012-2021 2005-2013 (1) AZALEA (California) 39,800 40,219 67,117 628 40,219 67,745 107,964 11,036 2014 8/2/2017 (1) BALA CYNWYD (Pennsylvania) 3,565 14,466 48,471 2,683 63,819 66,502 29,407 1955/2020 9/22/1993 (1) BARCROFT PLAZA (Virginia) 12,617 29,603 7,968 12,617 37,571 50,188 7,320 1963, 1972, 1990, & 2000 1/13/16 & 11/7/16 (1) BARRACKS ROAD (Virginia) 4,363 16,459 49,352 4,363 65,811 70,174 50,852 1958 12/31/1985 (1) BELL GARDENS (California) 11,861 24,406 85,947 1,929 24,406 87,876 112,282 18,619 1990, 2003, 2006 8/2/17 & 11/29/18 (1) BETHESDA ROW (Maryland) 46,579 35,406 168,421 43,904 206,502 250,406 99,202 1945-2008 12/31/93, 6/2/97, 1/20/06, 9/25/08, 9/30/08, & 12/27/10 (1) BIRCH & BROAD (formerly known as Falls Plaza) (Virginia) 1,798 1,270 20,876 1,819 22,125 23,944 9,741 1960/1962 9/30/67 & 10/05/72 (1) BRICK PLAZA (New Jersey) — 24,715 79,632 4,094 100,253 104,347 60,075 1958 12/28/1989 (1) BRISTOL PLAZA (Connecticut) 3,856 15,959 15,398 3,856 31,357 35,213 20,652 1959 9/22/1995 (1) BROOK 35 (New Jersey) 11,345 7,128 38,355 4,722 7,128 43,077 50,205 11,296 1986/2004 1/1/2014 (1) CAMELBACK COLONNADE (Arizona) 52,658 126,646 49 52,658 126,695 179,353 2,655 1977/2019 6/14/2021 (1) CAMPUS PLAZA (Massachusetts) 16,710 13,412 433 16,710 13,845 30,555 3,381 1970 1/13/2016 (1) CHELSEA COMMONS (Massachusetts) 4,692 8,689 19,466 2,439 8,669 21,925 30,594 9,596 1962/1969/ 8/25/06, 1/30/07, & 7/16/08 (1) CHESTERBROOK (Virginia) 13,042 24,725 509 13,042 25,234 38,276 594 1967/1991 4/30/21 (1) FEDERAL REALTY INVESTMENT TRUST SCHEDULE III SUMMARY OF REAL ESTATE AND ACCUMULATED DEPRECIATION DECEMBER 31, 2021 (Dollars in thousands) COLUMN A COLUMN B COLUMN C COLUMN D COLUMN E COLUMN F COLUMN G COLUMN H COLUMN I Descriptions Encumbrance Initial cost to company Cost Gross amount at which carried at Accumulated Date Date Life on which Land Building and Land Building and Total COCOWALK (Florida) 32,513 71,536 87,188 48,944 142,293 191,237 16,485 1990/1994, 1922-1973, 2018-2021 5/4/15, 7/1/15, 12/16/15, 7/26/16, 6/30/17, & 8/10/17 (1) COLORADO BLVD (California) 2,415 3,964 7,109 2,415 11,073 13,488 9,715 1905-1988 8/14/98 (1) CONGRESSIONAL PLAZA (Maryland) 2,793 7,424 97,556 2,793 104,980 107,773 63,539 1965/2003/2016 4/1/1965 (1) COURTHOUSE CENTER (Maryland) 1,750 1,869 3,497 1,750 5,366 7,116 3,141 1975 12/17/1997 (1) CROSSROADS (Illinois) 4,635 11,611 19,769 4,635 31,380 36,015 21,669 1959 7/19/1993 (1) CROW CANYON COMMONS (California) 27,245 54,575 8,854 27,245 63,429 90,674 30,337 Late 1970's/ 12/29/05 & 2/28/07 (1) DARIEN COMMONS (Connecticut) 30,368 19,523 48,601 30,368 68,124 98,492 3,561 1920-2009 4/3/13 & 7/20/18 (1) DEDHAM PLAZA (Massachusetts) 16,658 13,964 17,152 16,658 31,116 47,774 19,358 1959 12/31/93, 12/14/16, 1/29/19, & 3/12/19 (1) DEL MAR VILLAGE (Florida) 15,624 41,712 16,886 15,587 58,635 74,222 28,150 1982/1994/ 2007 5/30/08, 7/11/08, & 10/14/14 (1) EAST BAY BRIDGE (California) 29,069 138,035 12,354 29,069 150,389 179,458 46,612 1994-2001, 2011/2012 12/21/2012 (1) ELLISBURG (New Jersey) 4,028 11,309 20,737 4,013 32,061 36,074 22,684 1959 10/16/1992 (1) ESCONDIDO PROMENADE (California) 19,117 15,829 19,823 19,117 35,652 54,769 22,092 1987 12/31/96 & 11/10/10 (1) FAIRFAX JUNCTION (Virgina) 16,768 23,825 1,216 16,768 25,041 41,809 2,724 1981/1986/ 2000 2/8/19 & 1/10/20 (1) FEDERAL PLAZA (Maryland) 10,216 17,895 43,788 10,216 61,683 71,899 50,473 1970 6/29/1989 (1) FINLEY SQUARE (Illinois) 9,252 9,544 22,953 9,252 32,497 41,749 24,386 1974 4/27/1995 (1) FLOURTOWN (Pennsylvania) 1,345 3,943 11,910 1,507 15,691 17,198 7,851 1957 4/25/1980 (1) FOURTH STREET (California) 13,978 9,909 3,345 13,978 13,254 27,232 2,627 1948,1975 5/19/2017 (1) FREEDOM PLAZA (California) — 3,255 40,620 — 43,875 43,875 1,820 2018-2020 6/15/2018 (1) FEDERAL REALTY INVESTMENT TRUST SCHEDULE III SUMMARY OF REAL ESTATE AND ACCUMULATED DEPRECIATION DECEMBER 31, 2021 (Dollars in thousands) COLUMN A COLUMN B COLUMN C COLUMN D COLUMN E COLUMN F COLUMN G COLUMN H COLUMN I Descriptions Encumbrance Initial cost to company Cost Gross amount at which carried at Accumulated Date Date Life on which Land Building and Land Building and Total FRESH MEADOWS (New York) 24,625 25,255 44,201 24,633 69,448 94,081 48,793 1946-1949 12/5/1997 (1) FRIENDSHIP CENTER (District of Columbia) 12,696 20,803 2,966 12,696 23,769 36,465 14,158 1998 9/21/2001 (1) GAITHERSBURG SQUARE (Maryland) 7,701 5,271 23,999 5,973 30,998 36,971 19,397 1966 4/22/1993 (1) GARDEN MARKET (Illinois) 2,677 4,829 7,305 2,677 12,134 14,811 9,636 1958 7/28/1994 (1) GEORGETOWNE SHOPPING CENTER (New York) 32,202 49,586 2,728 32,202 52,314 84,516 3,841 1969/2006/ 2015 11/15/19 (1) GOVERNOR PLAZA (Maryland) 2,068 4,905 19,619 2,068 24,524 26,592 21,877 1963 10/1/1985 (1) GRAHAM PARK PLAZA (Virginia) 642 7,629 15,155 653 22,773 23,426 18,267 1971 7/21/1983 (1) GRATIOT PLAZA (Michigan) 525 1,601 18,168 525 19,769 20,294 18,232 1964 3/29/1973 (1) GREENLAWN PLAZA (New York) 10,590 20,869 1,278 10,730 22,007 32,737 5,089 1975/2004 1/13/2016 (1) GREENWICH AVENUE (Connecticut) 7,484 5,445 10,819 7,484 16,264 23,748 6,120 1968 4/12/1995 (1) GROSSMONT CENTER (California) 125,434 50,311 173 125,434 50,484 175,918 2,093 1961, 1963, 1982-1983, 2002 6/1/2021 (1) HASTINGS RANCH PLAZA (California) 2,257 22,393 1,055 2,257 23,448 25,705 3,812 1958, 1984, 2006, 2007 2/1/2017 (1) HAUPPAUGE (New York) 8,791 15,262 9,789 8,420 25,422 33,842 14,452 1963 8/6/1998 (1) HILTON VILLAGE (Arizona) — 40,079 28 — 40,107 40,107 772 1982/1989 6/14/21 (1) HOBOKEN (New Jersey) 104,704 47,460 167,835 1,075 47,462 168,908 216,370 11,389 1887-2006 9/18/19, 11/26/19, 12/19/19, & 2/12/20 (1) HOLLYWOOD BLVD (California) 8,300 16,920 36,635 8,370 53,485 61,855 20,813 1929/1991 3/22/99 & 6/18/99 (1) HUNTINGTON (New York) 12,194 16,008 23,585 12,294 39,493 51,787 17,564 1962 12/12/88, 10/26/07, & 11/24/15 (1) HUNTINGTON SQUARE (New York) — 10,075 3,621 506 13,190 13,696 5,281 1980/2004-2007 8/16/2010 (1) IDYLWOOD PLAZA (Virginia) 4,308 10,026 3,212 4,308 13,238 17,546 10,526 1991 4/15/1994 (1) KINGS COURT (California) — 10,714 896 — 11,610 11,610 10,410 1960 8/24/1998 (1) LANCASTER (Pennsylvania) — 2,103 6,291 432 7,962 8,394 6,230 1958 4/24/1980 (1) FEDERAL REALTY INVESTMENT TRUST SCHEDULE III SUMMARY OF REAL ESTATE AND ACCUMULATED DEPRECIATION DECEMBER 31, 2021 (Dollars in thousands) COLUMN A COLUMN B COLUMN C COLUMN D COLUMN E COLUMN F COLUMN G COLUMN H COLUMN I Descriptions Encumbrance Initial cost to company Cost Gross amount at which carried at Accumulated Date Date Life on which Land Building and Land Building and Total LANGHORNE SQUARE (Pennsylvania) 720 2,974 20,100 720 23,074 23,794 17,855 1966 1/31/1985 (1) LAUREL (Maryland) 7,458 22,525 30,379 7,503 52,859 60,362 42,998 1956 8/15/1986 (1) LAWRENCE PARK (Pennsylvania) 6,150 8,491 36,084 6,161 44,564 50,725 24,724 1972 7/23/1980 & 4/3/17 (1) LINDEN SQUARE (Massachusetts) 79,382 19,247 52,762 79,346 72,045 151,391 31,683 1960-2008 8/24/2006 (1) MELVILLE MALL (New York) 35,622 32,882 36,295 35,622 69,177 104,799 22,365 1974 10/16/2006 (1) MERCER MALL (New Jersey) 5,917 18,358 49,175 5,869 67,581 73,450 37,855 1975 10/14/03 & 1/31/17 (1) MONTROSE CROSSING (Maryland) 48,624 91,819 27,521 48,624 119,340 167,964 39,706 1960s, 1970s, 1996 & 2011 12/27/11 & 12/19/13 (1) MOUNT VERNON/SOUTH VALLEY/7770 RICHMOND HWY. (Virginia) 15,769 33,501 43,993 15,851 77,412 93,263 44,668 1966/1972/ 1987/2001 3/31/03, 3/21/03, & 1/27/06 (1) NORTH DARTMOUTH (Massachusetts) 9,366 — 3 9,366 3 9,369 2 2004 8/24/2006 (1) NORTHEAST (Pennsylvania) 938 8,779 24,719 939 33,497 34,436 21,263 1959 8/30/1983 (1) OLD KEENE MILL (Virginia) 638 998 11,550 638 12,548 13,186 7,002 1968 6/15/1976 (1) OLD TOWN CENTER (California) 3,420 2,765 32,909 3,420 35,674 39,094 24,723 1962, 1997-1998 10/22/1997 (1) OLIVO AT MISSION HILLS (California) 15,048 46,732 20,441 15,048 67,173 82,221 6,614 2017-2018 8/2/2017 (1) PAN AM (Virginia) 8,694 12,929 8,873 8,695 21,801 30,496 17,516 1979 2/5/1993 (1) PENTAGON ROW (Virginia) — 2,955 103,692 — 106,647 106,647 56,156 1999 - 2002 1998 & 11/22/10 (1) PERRING PLAZA (Maryland) 2,800 6,461 26,626 2,800 33,087 35,887 25,356 1963 10/1/1985 (1) PIKE & ROSE (Maryland) 31,471 10,335 682,962 33,716 691,052 724,768 83,746 1963, 2012-2021 5/18/82, 10/26/07, & 7/31/12 (1) PIKE 7 PLAZA (Virginia) 14,970 22,799 13,142 14,914 35,997 50,911 20,740 1968 3/31/97 & 7/8/15 (1) PLAZA DEL MERCADO (Maryland) 10,305 21,553 15,114 10,305 36,667 46,972 8,763 1969 1/13/2016 (1) PLAZA DEL SOL (California) 5,605 12,331 (55) 5,605 12,276 17,881 1,882 2009 8/2/2017 (1) FEDERAL REALTY INVESTMENT TRUST SCHEDULE III SUMMARY OF REAL ESTATE AND ACCUMULATED DEPRECIATION DECEMBER 31, 2021 (Dollars in thousands) COLUMN A COLUMN B COLUMN C COLUMN D COLUMN E COLUMN F COLUMN G COLUMN H COLUMN I Descriptions Encumbrance Initial cost to company Cost Gross amount at which carried at Accumulated Date Date Life on which Land Building and Land Building and Total PLAZA EL SEGUNDO/THE POINT (California) 124,521 62,127 153,556 84,287 64,788 235,182 299,970 68,627 2006/2007/ 2016 12/30/11, 6/14/13, 7/26/13, & 12/27/13 (1) QUEEN ANNE PLAZA (Massachusetts) 3,319 8,457 6,827 3,319 15,284 18,603 11,427 1967 12/23/1994 (1) QUINCE ORCHARD (Maryland) 3,197 7,949 29,995 2,928 38,213 41,141 25,984 1975 4/22/1993 (1) RIVERPOINT CENTER (Illinois) 15,422 104,572 1,609 15,422 106,181 121,603 16,197 1989, 2012 3/31/2017 (1) ROCKVILLE TOWN SQUARE (Maryland) — 8,092 36,927 — 45,019 45,019 20,165 2005 - 2007 2006 - 2007 (1) ROLLINGWOOD APTS. (Maryland) 552 2,246 10,695 774 12,719 13,493 10,529 1960 1/15/1971 (1) SAN ANTONIO CENTER (California) 26,400 18,462 3,268 26,400 21,730 48,130 5,408 1958, 1964-1965, 1974-1975, 1995-1997 1/9/2015, 9/13/19 (1) SANTANA ROW (California) 66,682 7,502 1,172,412 57,592 1,189,004 1,246,596 268,804 1999-2006, 2009, 2011, 2014, 2016-2021 3/5/97, 7/13/12, 9/6/12, 4/30/13 & 9/23/13 (1) SYLMAR TOWNE CENTER (California) 18,522 24,637 2,964 18,522 27,601 46,123 3,936 1973 8/2/2017 (1) THE AVENUE AT WHITE MARSH (Maryland) 20,682 72,432 30,635 20,685 103,064 123,749 45,759 1997 3/8/2007 (1) THE GROVE AT SHREWSBURY (New Jersey) 43,070 18,016 103,115 7,759 18,021 110,869 128,890 28,225 1988/1993/ 2007 1/1/2014 & 10/6/14 (1) THE SHOPPES AT NOTTINGHAM SQUARE (Maryland) 4,441 12,849 1,446 4,441 14,295 18,736 6,961 2005 - 2006 3/8/2007 (1) THIRD STREET PROMENADE (California) 22,645 12,709 52,419 25,125 62,648 87,773 36,265 1888-2000 1996-2000 (1) TOWER SHOPPNG CENTER (Virginia) 7,170 10,518 5,210 7,280 15,618 22,898 11,009 1953-1960 8/24/1998 (1) TOWER SHOPS (Florida) 29,940 43,390 27,794 29,962 71,162 101,124 26,237 1989, 2017 1/19/11 & 6/13/14 (1) TOWN CENTER OF NEW BRITAIN (Pennsylvania) 1,282 12,285 3,358 1,693 15,232 16,925 7,047 1969 6/29/2006 (1) TOWSON RESIDENTIAL (FLATS 703) (Maryland) 2,328 — 20,092 2,328 20,092 22,420 2,703 2016-2017 3/8/2007 (1) FEDERAL REALTY INVESTMENT TRUST SCHEDULE III SUMMARY OF REAL ESTATE AND ACCUMULATED DEPRECIATION DECEMBER 31, 2021 (Dollars in thousands) COLUMN A COLUMN B COLUMN C COLUMN D COLUMN E COLUMN F COLUMN G COLUMN H COLUMN I Descriptions Encumbrance Initial cost to company Cost Gross amount at which carried at Accumulated Date Date Life on which Land Building and Land Building and Total TROY HILLS (New Jersey) 3,126 5,193 32,847 5,865 35,301 41,166 25,111 1966 7/23/1980 (1) TWINBROOKE SHOPPING CENTRE (Virginia) 16,484 18,898 57 16,484 18,955 35,439 263 1977 9/2/2021 (1) TYSON'S STATION (Virginia) 388 453 5,241 493 5,589 6,082 4,238 1954 1/17/1978 (1) VILLAGE AT SHIRLINGTON (Virginia) 9,761 14,808 39,526 4,234 59,861 64,095 33,277 1940, 2006-2009 12/21/1995 (1) WESTGATE CENTER (California) 6,319 107,284 44,549 6,319 151,833 158,152 72,593 1960-1966 3/31/2004 (1) WHITE MARSH PLAZA (Maryland) 3,478 21,413 1,674 3,514 23,051 26,565 11,094 1987 3/8/2007 (1) WHITE MARSH OTHER (Maryland) 28,809 — 77 28,839 47 28,886 — 1985 3/8/2007 (1) WILDWOOD (Maryland) 9,111 1,061 17,219 9,111 18,280 27,391 10,298 1958 5/5/1969 (1) WILLOW GROVE (Pennsylvania) 1,499 6,643 23,943 1,499 30,586 32,085 22,653 1953 11/20/1984 (1) WILLOW LAWN (Virginia) 3,192 7,723 94,318 7,790 97,443 105,233 67,685 1957 12/5/1983 (1) WYNNEWOOD (Pennsylvania) 8,055 13,759 21,055 8,055 34,814 42,869 27,285 1948 10/29/1996 (1) TOTALS $ 339,993 $ 1,585,097 $ 2,725,032 $ 5,111,933 $ 1,578,280 $ 7,843,782 $ 9,422,062 $ 2,531,095 (1) Depreciation of building and improvements is calculated based on useful lives ranging from the life of the lease to 50 years. Balance, December 31, 2018 $ 7,819,472 January 1, 2019 adoption of new accounting standard - See Note 2 (71,859) Additions during period Acquisitions 309,921 Improvements 441,703 Deduction during period—dispositions and retirements of property (201,105) Balance, December 31, 2019 8,298,132 Additions during period Acquisitions 39,440 Improvements 473,679 Deductions during period Impairment of property (68,484) Dispositions and retirements of property (159,897) Balance, December 31, 2020 8,582,870 Additions during period Acquisitions 519,350 Improvements 424,521 Deduction during period—dispositions and retirements of property (104,679) Balance, December 31, 2021 (1) $ 9,422,062 _____________________ (1) For Federal tax purposes, the aggregate cost basis is approximately $8.4 billion as of December 31, 2021. FEDERAL REALTY INVESTMENT TRUST SCHEDULE III SUMMARY OF REAL ESTATE AND ACCUMULATED DEPRECIATION - CONTINUED Three Years Ended December 31, 2021 Reconciliation of Accumulated Depreciation and Amortization (In thousands) Balance, December 31, 2018 $ 2,059,143 January 1, 2019 adoption of new accounting standard - See Note 2 (18,173) Additions during period—depreciation and amortization expense 215,382 Deductions during period—dispositions and retirements of property (40,939) Balance, December 31, 2019 2,215,413 Additions during period—depreciation and amortization expense 229,199 Deductions during period Impairment of property (11,631) Dispositions and retirements of property (75,289) Balance, December 31, 2020 2,357,692 Additions during period—depreciation and amortization expense 246,338 Deductions during period -dispositions and retirements of property (72,935) Balance, December 31, 2021 $ 2,531,095

Schedule IV - Mortgage Loans on

Schedule IV - Mortgage Loans on Real Estate	12 Months Ended
	Dec. 31, 2021
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Abstract]
Schedule IV - Mortgage Loans on Real Estate	FEDERAL REALTY INVESTMENT TRUST SCHEDULE IV MORTGAGE LOANS ON REAL ESTATE Year Ended December 31, 2021 (Dollars in thousands) Column A Column B Column C Column D Column E Column F Column G Column H Description of Lien Interest Rate Maturity Date Periodic Payment Prior Face Amount Carrying Principal Second mortgage on a retail shopping center in Rockville, MD 11.5% February 2026 Interest only monthly; $ 58,750 (2) $ 5,075 $ 5,075 $ — Second mortgage on a retail shopping center in Rockville, MD 10.75% February 2026 Interest only monthly; 58,750 (2) 4,500 4,433 — Second mortgage on a retail shopping center in Baltimore, MD 7.0% October 2031 Principal and interest monthly; balloon payment due at maturity 4,990 (3) 600 35 — $ 63,740 $ 10,175 $ 9,543 $ — _____________________ (1) The amounts are net of any expected losses in accordance with ASU 2016-13. See note 2 to the consolidated financial statements. For Federal tax purposes, the aggregate tax basis is approximately $10.2 million as of December 31, 2021. (2) These mortgages are both subordinate to a first mortgage of $58.8 million in total. We do not hold the first mortgage loan on this property. Accordingly, the amount of the prior lien at December 31, 2021 is estimated. (3) This mortgage is subordinate to a first mortgage of $5.0 million. We do not hold the first mortgage loan on this property. Accordingly, the amount of the prior lien at December 31, 2021 is estimated. FEDERAL REALTY INVESTMENT TRUST SCHEDULE IV MORTGAGE LOANS ON REAL ESTATE - CONTINUED Three Years Ended December 31, 2021 Reconciliation of Carrying Amount (In thousands) Balance, December 31, 2018 and 2019 $ 30,429 January 1, 2020 adoption of new accounting standard - See Note 2 (790) Additions during period: Acquisition of loans, net of valuation adjustments 9,560 Issuance of loans 693 Balance, December 31, 2020 39,892 Additions during period: Issuance of loans 600 Deductions during period: Collection and satisfaction of loans (30,339) Valuation adjustments (610) Balance, December 31, 2021 $ 9,543

Summary Of Significant Accoun_2

Summary Of Significant Accounting Policies (Policy)	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation Our consolidated financial statements include the accounts of the Trust, its corporate subsidiaries, and all entities in which the Trust has a controlling interest or has been determined to be the primary beneficiary of a variable interest entity (“VIE”). The equity interests of other investors are reflected as noncontrolling interests or redeemable noncontrolling interests. All significant intercompany transactions and balances are eliminated in consolidation. We account for our interests in joint ventures, which we do not control, using the equity method of accounting.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America, referred to as “GAAP,” requires management to make estimates and assumptions that in certain circumstances affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities, and revenues and expenses. These estimates are prepared using management’s best judgment, after considering past, current and expected events and economic conditions. Actual results could differ from these estimates.
Revenue Recognition and Accounts Receivable	Revenue Recognition and Accounts Receivable Our leases with our tenants are classified as operating leases. When collection of substantially all lease payments during the lease term is considered probable, the lease qualifies for accrual accounting. Lease payments are recognized on a straight-line basis from the point in time when the tenant controls the space through the term of the related lease. Variable lease payments relating to percentage rent are recognized at the end of the lease year or earlier if we have determined the required sales level is achieved. Real estate tax and other cost reimbursements are recognized on an accrual basis over the periods in which the related expenditures are incurred. Many of our leases contain tenant options that enable the tenant to extend the term of the lease at expiration at pre-established rental rates that often include fixed rent increases, consumer price index adjustments or other market rate adjustments from the prior base rent. For a tenant to terminate its lease agreement prior to the end of the agreed term, we may require that they pay a fee to cancel the lease agreement. Lease termination fees are generally recognized on the termination date if the tenant has relinquished control of the space. When a lease is terminated early but the tenant continues to control the space under a modified lease agreement, the lease termination fee is generally recognized evenly over the remaining term of the modified lease agreement. Lease concessions (unrelated to the COVID-19 pandemic) are evaluated to determine whether the concession represents a modification of the original lease contract. Modifications generally result in a reassessment of the lease term and lease classification, and remeasurement of lease payments received. Remeasured lease payments are recognized on a straight-line basis over the remaining term of the modified lease contract. In April 2020, the Financial Accounting Standards Board ("FASB") issued interpretive guidance relating to the accounting for lease concessions provided as a result of the COVID-19 pandemic that allows entities to treat the concession as if it was a part of the existing contract instead of applying lease modification accounting. This guidance is only applicable to the COVID-19 pandemic related lease concessions that do not result in a substantial increase in the rights of the lessor or the obligations of the lessee. We have elected this option relating to qualifying rent deferral and rent abatement agreements. For qualifying lease modifications with rent deferrals, this results in no change to our revenue recognition but an increase in the lease receivable balance until the deferred rent has been repaid. For qualifying lease modifications that include rent abatement concessions, this results in a direct reduction of rental income in the current period. As of December 31, 2021, we executed rent deferral agreements related to the COVID-19 pandemic representing approximately $46 million of rent. We have subsequently collected approximately $27 million of those amounts previously deferred. As of December 31, 2021, we have entered into rent abatement agreements related to the COVID-19 pandemic totaling $26 million and $48 million of rents due in 2021 and 2020, respectively. When collection of substantially all lease payments during the lease term is not considered probable, total lease revenue is limited to the lesser of revenue recognized under accrual accounting or cash received. Determining the probability of collection of substantially all lease payments during a lease term requires significant judgment. This determination is impacted by numerous factors including our assessment of the tenant’s credit worthiness, economic conditions, tenant sales productivity in that location, historical experience with the tenant and tenants operating in the same industry, future prospects for the tenant and the industry in which it operates, and the length of the lease term. If leases currently classified as probable are subsequently reclassified as not probable, any outstanding lease receivables (including straight-line rent receivables) would be written-off with a corresponding decrease in rental income. If leases currently classified as not probable are subsequently changed to probable, any lease receivables (including straight-line rent receivables) are re-instated with a corresponding increase to rental income. Since March 2020, federal, state, and local governments have taken various actions to mitigate the spread of COVID-19. These actions included the closure of nonessential businesses and ordering residents to generally stay at home at the onset of the pandemic, phased re-openings and capacity limitations, and now generally lifted restrictions. While the overall economy is showing signs of recovery from the initial impacts of COVID-19, workforce shortages, global supply chain bottlenecks and shortages, inflation, as well as COVID-19 variants are impacting the recovery. Closures and restrictions, along with the general concern over the spread of COVID-19, required a significant number of tenants to close their operations or to significantly limit the amount of business they were able to conduct, which impacted their ability to timely pay rent as required under our leases and also caused many tenants to close their business permanently. As a result, we revised our collectibility assumptions for many of our tenants most significantly impacted by COVID-19. Accordingly, during the years ended December 31, 2021 and 2020, we recognized collectibility related adjustments of $24.0 million and $106.6 million, respectively. This includes changes in our collectibility assessments from probable to not probable, disputed rents, and any rent abatements directly related to COVID-19, as well as the write-off of $0.7 million and $12.7 million, respectively of straight-line rent receivables related to tenants changed to a cash basis of revenue recognition during the years ended December 31, 2021 and 2020. As of December 31, 2021 and 2020, the revenue from approximately 34% and 35% of our tenants (based on total commercial leases), respectively, is being recognized on a cash basis. As of December 31, 2021 and 2020, our straight-line rent receivables balance was $110.7 million and $103.3 million, respectively, and is included in "accounts and notes receivable, net" on our consolidated balance sheet. Other revenue recognition policies
Real Estate	Real Estate Land, buildings and improvements are recorded at cost. Depreciation is computed using the straight-line method. Estimated useful lives range generally from 35 years to a maximum of 50 years on buildings and major improvements. Minor improvements, furniture and equipment are capitalized and depreciated over useful lives ranging from 2 to 20 years. Maintenance and repairs that do not improve or extend the useful lives of the related assets are charged to operations as incurred. Tenant improvements are capitalized and depreciated over the life of the related lease or their estimated useful life, whichever is shorter. If a tenant vacates its space prior to contractual termination of its lease, the undepreciated balance of any tenant improvements are written off if they are replaced or have no future value. In 2021, 2020 and 2019, real estate depreciation expense was $245.1 million, $227.9 million and $215.4 million, respectively, including amounts from real estate sold. Our methodology of allocating the cost of acquisitions to assets acquired and liabilities assumed is based on estimated fair values, replacement cost and/or appraised values. When we acquire operating real estate properties, the purchase price is allocated to land, building, improvements, leasing costs, intangibles such as acquired leases, assumed debt, if any, and to current assets and liabilities acquired, if any. The value allocated to acquired leases is amortized over the related lease term and reflected as rental income in the consolidated statements of comprehensive income. We consider qualitative and quantitative factors in evaluating the likelihood of a tenant exercising a below market renewal option and include such renewal options in the calculation of acquired lease value when we consider these to be bargain renewal options. If the value of below market lease intangibles includes renewal option periods, we include such renewal periods in the amortization period utilized. If a tenant vacates its space prior to contractual termination of its lease, the unamortized balance of any acquired lease value is written off to rental income. Transaction costs related to asset acquisitions, such as broker fees, transfer taxes, legal, accounting, valuation, and other professional and consulting fees, are capitalized as part of the acquisition cost. The acquisition of an operating shopping center typically qualifies as an asset acquisition. Prior to the adoption of ASU 2016-02, "Leases," when applicable, as lessee, we classified our leases of land and building as operating or capital leases. We were required to use judgment and make estimates in determining the lease term, the estimated economic life of the property and the interest rate to be used in determining whether or not the lease meets the qualification of a capital lease. Subsequently, capital leases are now considered "finance leases." We capitalize certain costs related to the development and redevelopment of real estate including pre-construction costs, real estate taxes, insurance, construction costs and salaries and related costs of personnel directly involved, are capitalized. Additionally, we capitalize interest costs related to development and redevelopment activities. Capitalization of these costs begin when the activities and related expenditures commence and cease when the project is substantially complete and ready for its intended use at which time the project is placed in service and depreciation commences. Additionally, we make estimates as to the probability of certain development and redevelopment projects being completed. If we determine the development or redevelopment is no longer probable of completion, we expense all capitalized costs which are not recoverable.
Long Lived Assets and Impairment	Long-Lived Assets and Impairment There are estimates and assumptions made by management in preparing the consolidated financial statements for which the actual results will be determined over long periods of time. This includes the recoverability of long-lived assets, including our properties that have been acquired or redeveloped and our investment in certain joint ventures. Management’s evaluation of impairment includes review for possible indicators of impairment as well as, in certain circumstances, undiscounted and discounted cash flow analysis. Since most of our investments in real estate are wholly-owned or controlled assets which are held for use, a property with impairment indicators is first tested for impairment by comparing the undiscounted cash flows, including residual value, to the current net book value of the property. If the undiscounted cash flows are less than the net book value, the property is written down to expected fair value. The calculation of both discounted and undiscounted cash flows requires management to make estimates of future cash flows including revenues, operating expenses, required maintenance and development expenditures, market conditions, demand for space by tenants and rental rates over long periods. Because our properties typically have a long life, the assumptions used to estimate the future recoverability of book value requires significant management judgment. Actual results could be significantly different from the estimates. These estimates have a direct impact on net income, because recording an impairment charge results in a negative adjustment to net income.
Cash and Cash Equivalents	Cash and Cash Equivalents We define cash and cash equivalents as cash on hand, demand deposits with financial institutions and short term liquid investments with an initial maturity, when purchased, under three months. Cash balances in individual banks may exceed the federally insured limit by the Federal Deposit Insurance Corporation (the “FDIC”). At December 31, 2021, we had $167.3 million in excess of the FDIC insured limit.
Prepaid Expenses and Other Assets	Prepaid Expenses and Other Assets Prepaid expenses and other assets consist primarily of lease costs, prepaid property taxes and acquired above market leases. Capitalized lease costs are incremental direct costs incurred which were essential to originate a successful leasing arrangement and would not have been incurred had the leasing transaction not taken place. These costs include third party commissions related to obtaining a lease. Capitalized lease costs are amortized over the initial life of the related lease which generally ranges from three ten
Debt Issuance Costs	Debt Issuance Costs Costs related to the issuance of debt instruments are deferred and are amortized as interest expense over the estimated life of the related issue using the straight-line method which approximates the effective interest method. If a debt instrument is paid off prior to its original maturity date, the unamortized balance of debt issuance costs are written off to interest expense or, if significant, included in “early extinguishment of debt.” Debt issuance costs related to our revolving credit facility are classified as an asset and are included in "prepaid expenses and other assets" in our consolidated balance sheets. All other debt issuance costs are presented as a direct deduction from the carrying amount of the debt liability.
Derivative Instruments	Derivative Instruments We may use derivative instruments to manage exposure to variable interest rate risk. We generally enter into interest rate swaps to manage our exposure to variable interest rate risk and treasury locks to manage the risk of interest rates rising prior to the issuance of debt. We enter into derivative instruments that qualify as cash flow hedges and do not enter into derivative instruments for speculative purposes. Interest rate swaps associated with cash flow hedges are recorded at fair value on a recurring basis. Effectiveness of cash flow hedges is assessed both at inception and on an ongoing basis. The effective portion of changes in fair value of the interest rate swaps associated with cash flow hedges is recorded in other comprehensive income (loss) which is included in accumulated other comprehensive income (loss) on the balance sheet and statement of shareholders' equity. Cash flow hedges become ineffective if critical terms of the hedging instrument and the debt instrument do not perfectly match such as notional amounts, settlement dates, reset dates, calculation period and LIBOR rate. In addition, the default risk of the counterparty is evaluated by monitoring the credit worthiness of the counterparty which includes reviewing debt ratings and financial performance. If a cash flow hedge is deemed ineffective, the ineffective portion of changes in fair value of the interest rate swaps associated with cash flow hedges is recognized in earnings in the period affected. At December 31, 2021, we have two interest rate swap agreements that effectively fix the interest rate on a mortgage payable associated with our Hoboken property at 3.67%. Both swaps were designated and qualify for cash flow hedge accounting. As of December 31, 2021, our Assembly Row hotel joint venture is a party to two interest rate swap agreements that effectively fix the interest rate on the joint venture's mortgage debt at 5.206%. Both swaps were designated and qualify as cash flow hedges. Hedge ineffectiveness has not impacted earnings in 2021, 2020 and 2019.
Mortgage Notes Receivable	Mortgage Notes Receivable We have invested in certain mortgage loans that, because of their nature, qualify as loan receivables. At the time of investment, we did not intend for the arrangement to be anything other than a financing and did not contemplate a real estate investment. We evaluate each investment to determine whether the loan arrangement qualifies as a loan, joint venture or real estate investment and the appropriate accounting thereon. Such determination affects our balance sheet classification of these investments and the recognition of interest income derived therefrom. Mortgage notes receivable are recorded at cost, net of any valuation adjustments. Effective January 1, 2020, (upon the adoption of ASU 2016-13, "Financial Instruments - Credit Losses," as amended and interpreted), we account for mortgage notes receivable using the "expected credit loss" model, and accordingly impairment losses are estimated and recorded for the entire life of the loan. Prior to the implementation of ASC 326, we recognized impairment losses as incurred. Interest income is accrued as earned. Mortgage notes receivable are considered past due based on the contractual terms of the note agreement. On a quarterly basis, we evaluate the collectability of each mortgage note receivable and update our expected credit loss model based on various factors which may include payment history, expected fair value of the collateral securing the loan, internal and external credit information and/or economic trends. A loan is considered impaired when it is probable that we will be unable to collect all amounts due under the existing contractual terms. When a loan is considered impaired, the amount of the loss accrual
Share Based Compensation	Share Based Compensation We grant share based compensation awards to employees and trustees typically in the form of restricted common shares, common shares, and options. We measure share based compensation expense based on the grant date fair value of the award and recognize the expense ratably over the requisite service period, which is typically the vesting period. See Note 12 for further discussion regarding our share based compensation plans and policies.
Variable Interest Entities	Variable Interest Entities Certain entities that do not have sufficient equity at risk for the entity to finance its activities without additional subordinated financial support from other parties or in which equity investors do not have the characteristics of a controlling financial interest qualify as VIEs. VIEs are required to be consolidated by their primary beneficiary. The primary beneficiary of a VIE has both the power to direct the activities that most significantly impact economic performance of the VIE and the obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE. On January 4, 2021, we acquired our partner's interest in the Pike & Rose hotel joint venture, which was previously considered a variable interest in a VIE. See Note 3 for additional details of this transaction. Our equity method investments in the Assembly Row hotel joint venture and the La Alameda shopping center and our mortgage notes receivable are considered variable interests in a VIE. As we do not control the activities that most significantly impact the economic performance of the joint ventures related to the Assembly Row hotel, the La Alameda shopping center, or the borrower entities related to our mortgage notes receivable, we are not the primary beneficiary and do not consolidate. As of December 31, 2021 and 2020, our investment in the Assembly Row hotel and La Alameda shopping center joint ventures and maximum exposure to loss was $8.9 million and $9.9 million, respectively, and $8.8 million for our Pike & Rose hotel joint venture as of December 31, 2020. As of December 31, 2021 and 2020, our investment in mortgage notes receivable and maximum exposure to loss was $9.5 million and $39.9 million, respectively. In addition, we have 21 entities that meet the criteria of a VIE in which we hold a variable interest. For each of these entities, we control the significant operating decisions and consequently have the power to direct the activities that most significantly impact the economic performance of the entities. As we also have the obligation to absorb the majority of the losses and/or the right to receive a majority of the benefits for each of these entities, all are consolidated in our financial statements. Net real estate assets related to VIEs included in our consolidated balance sheets were approximately $1.8 billion and $1.4 billion as of December 31, 2021 and 2020, respectively, and mortgages related to VIEs included in our consolidated balance sheets were approximately $335.3 million and $413.7 million, as of December 31, 2021 and 2020, respectively.
Redeemable Noncontrolling Interests	Redeemable Noncontrolling Interests We have certain noncontrolling interests that are redeemable for cash upon the occurrence of an event that is not solely in our control and therefore are classified outside of permanent equity. We adjust the carrying amounts of these noncontrolling interests that are currently redeemable to redemption value at the balance sheet date. Adjustments to the carrying amount to reflect changes in redemption value are recorded as adjustments to additional paid-in capital in shareholders' equity. These amounts are classified within the mezzanine section of the consolidated balance sheets. The following table provides a rollforward of the redeemable noncontrolling interests: Year Ended December 31, 2021 2020 (In thousands) Beginning balance $ 137,720 $ 139,758 Contributions 74,530 19,335 Net income 4,296 2,228 Other comprehensive income (loss) - change in value of interest rate swaps 320 (471) Distributions & redemptions (5,268) (1,197) Change in redemption value 2,110 (21,933) Ending balance $ 213,708 $ 137,720
Leases	Leases We adopted ASC 842 effective January 1, 2019 under the modified retrospective approach and elected the optional transition method to apply the provisions of ASC 842 as of the adoption date, rather than the earliest period presented. We elected to apply certain adoption related practical expedients for all leases that commenced prior to the election date. These practical expedients included not reassessing whether any expired or existing contracts were or contained leases; not reassessing the lease classification for any expired or existing leases; and not reassessing initial direct costs for any existing leases. We also elected the practical expedient for lessors to combine our lease and non-lease components (primarily impacts common area maintenance recoveries). Lessor We recorded a charge to the opening accumulated dividends in excess of net income of $7.1 million in 2019 as a result of the adoption of ASC 842. This charge was attributable to the write off certain direct leasing costs recorded under the previous lease accounting rules for leases which had not commenced as well as the write off of unreserved receivables (including straight-line receivables) for leases where we had determined the collection of substantially all the lease payments required for the term is not probable. Lessee
Income Taxes	Income Taxes We operate in a manner intended to enable us to qualify as a REIT for federal income tax purposes. A REIT that distributes at least 90% of its taxable income to its shareholders each year and meets certain other conditions is not taxed on that portion of its taxable income which is distributed to its shareholders. Therefore, federal income taxes on our taxable income have been and are generally expected to be immaterial. We are obligated to pay state taxes, generally consisting of franchise or gross receipts taxes in certain states. Such state taxes also have not been material. We have elected to treat certain of our subsidiaries as taxable REIT subsidiaries, which we refer to as a TRS. In general, a TRS may engage in any real estate business and certain non-real estate businesses, subject to certain limitations under the Internal Revenue Code of 1986, as amended (the “Code”). A TRS is subject to federal and state income taxes. Our TRS activities have not been material.
Segment Information	Segment Information Our primary business is the ownership, management, and redevelopment of retail and mixed-use properties. We review operating and financial information for each property on an individual basis and therefore, each property represents an individual operating segment. We evaluate financial performance using property operating income, which consists of rental income, and mortgage interest income, less rental expenses and real estate taxes. No individual commercial or residential property constitutes more than 10% of our revenues or property operating income and we have no operations outside of the United States of America. Therefore, we have aggregated our properties into one reportable segment as the properties share similar long-term economic characteristics and have other similarities including the fact that they are operated using consistent business strategies, are typically located in major metropolitan areas, and have similar tenant mixes.
Forward Equity Sales Policy	Forward Equity Sales On February 24, 2021, we replaced our existing at-the-market (“ATM”) equity program with a new ATM equity program in which we may from time to time offer and sell common shares having an aggregate offering price of up to $500.0 million. The new ATM equity program also allows shares to be sold through forward sales contracts. Our forward sales contracts currently meet all the conditions for equity classification; and therefore, we record common stock on the settlement date at the purchase price contemplated by the contract. Furthermore, we consider the potential dilution resulting from forward sales contracts in our earnings per share calculations. We use the treasury method to determine the dilution, if any, from the forward sales contracts during the period of time prior to settlement. See Note 8 to the consolidated financial statements for details of our 2021 forward sales transactions.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Issued in 2021: ASU 2021-05, July 2021, Lessors - Certain Leases with Variable Lease Payments (Topic 842) This ASU amends the lessor lease classification in ASC 842 for leases that include variable lease payments that are not based on an index or rate. Under the amended guidance, lessors will classify a lease with variable payments that do not depend on an index or rate as an operating lease if the lease would have been classified as a sales-type lease or a direct financing lease under the previous ASU 842 classification criteria, and sales-type or direct financing lease classification would result in a Day 1 loss. This guidance is effective for annual periods beginning after December 15, 2021, and interim periods therein. The adoption of this standard does not have an impact to our consolidated financial statements. Issued in 2020: ASU 2020-04, March 2020, Reference Rate Reform (Topic 848) This ASU provides companies with optional practical expedients to ease the accounting burden for contract modifications associated with transitioning away from LIBOR and other interbank offered rates that are expected to be discontinued as part of reference rate reform. For hedges, the guidance generally allows changes to the reference rate and other critical terms without having to de-designate the hedging relationship, as well as allows the shortcut method to continue to be applied. For contract modifications, changes in the reference rate or other critical terms will be treated as a continuation of the prior contract. This guidance can be applied immediately, however, is generally only available through December 31, 2022. We are still evaluating the impact of reference rate reform and whether we will apply any of these practical expedients. ASU 2020-06, August 2020, Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging - Contracts in Entity's Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity's Own Equity This ASU simplifies the accounting for convertible instruments by removing the requirements to separately present certain conversion features in equity, simplifying the settlement assessment that entities are required to perform to determine whether a contract qualifies for equity classification, and generally requiring the use of the if-converted method for all convertible instruments in the diluted EPS calculation and include the effect of potential share settlement (if the effect is more dilutive). The guidance is effective for annual period beginning after December 15, 2021, and interim periods therein. The adoption of this standard does not have an impact to our consolidated financial statements.

Summary Of Significant Accoun_3

Summary Of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Rollforward table of the redeemable noncontrolling interest	The following table provides a rollforward of the redeemable noncontrolling interests: Year Ended December 31, 2021 2020 (In thousands) Beginning balance $ 137,720 $ 139,758 Contributions 74,530 19,335 Net income 4,296 2,228 Other comprehensive income (loss) - change in value of interest rate swaps 320 (471) Distributions & redemptions (5,268) (1,197) Change in redemption value 2,110 (21,933) Ending balance $ 213,708 $ 137,720
Schedule of supplemental disclosures related to the Consolidated Statements Of Cash Flows	The following table provides supplemental disclosures related to the Consolidated Statements of Cash Flows: Year Ended December 31, 2021 2020 2019 (In thousands) SUPPLEMENTAL DISCLOSURES: Total interest costs incurred $ 150,324 $ 159,718 $ 130,110 Interest capitalized (22,626) (23,429) (20,487) Interest expense $ 127,698 $ 136,289 $ 109,623 Cash paid for interest, net of amounts capitalized $ 123,585 $ 130,248 $ 106,180 Cash paid for income taxes $ 386 $ 580 $ 483 NON-CASH INVESTING AND FINANCING TRANSACTIONS: DownREIT operating partnership units issued with acquisition $ — $ 18,920 $ — Mortgage loans assumed with acquisition (1) $ — $ 8,903 $ 98,041 DownREIT operating partnership units redeemed for common shares $ 7,545 $ — $ 14,105 Settlement of partner loan receivable via dilution of partner interests $ — $ — $ 5,379 Shares issued under dividend reinvestment plan $ 1,727 $ 1,734 $ 1,784 (1) See our Annual Report on Form 10-K for the year ended December 31, 2020 for additional disclosures relating to the mortgages entered into and assumed as a result of the Hoboken acquisition.
Reconcilition of cash, cash equivalents, and restricted cash	December 31, 2021 2020 (In thousands) RECONCILIATION OF CASH, CASH EQUIVALENTS, AND RESTRICTED CASH: Cash and cash equivalents $ 162,132 $ 798,329 Restricted cash (1) 13,031 18,567 Total cash, cash equivalents, and restricted cash $ 175,163 $ 816,896 (1) Restricted cash balances are included in "prepaid expenses and other assets" on our consolidated balance sheets.

Real Estate (Tables)

Real Estate (Tables)	12 Months Ended
	Dec. 31, 2021
Real Estate [Abstract]
2021 Property Acquisitions	During the year ended December 31, 2021, we acquired the following properties: Date Acquired Property City/State Gross Leasable Area (GLA) Ownership % Gross Value (in square feet) (in millions) April 30, 2021 Chesterbrook (1) McLean, Virginia 90,000 80 % $ 32.1 (2) June 1, 2021 Grossmont Center (1) La Mesa, California 933,000 60 % $ 175.0 (3) June 14, 2021 Camelback Colonnade (1) Phoenix, Arizona 642,000 98 % $ 162.5 (4) June 14, 2021 Hilton Village (1) Scottsdale, Arizona 93,000 98 % $ 37.5 (5) September 2, 2021 Twinbrooke Shopping Centre Fairfax, Virginia 106,000 100 % $ 33.8 (6) (1) These acquisitions were completed through newly formed joint ventures, for which we own the controlling interest listed above, and therefore, these properties are consolidated in our financial statements. (2) Approximately $1.9 million and $0.6 million of net assets acquired were allocated to other assets for "acquired lease costs" and "above market leases," respectively, and $8.0 million of net assets acquired were allocated to other liabilities for "below market leases." (3) Approximately $12.3 million and $2.6 million of net assets acquired were allocated to other assets for "acquired lease costs" and "above market leases," respectively, and $14.7 million of net assets acquired were allocated to other liabilities for "below market leases." (4) Approximately $11.6 million of net assets acquired were allocated to other assets for "acquired lease costs" and $28.3 million were allocated to other liabilities for "below market leases." (5) The land is controlled under a long-term ground lease that expires on December 31, 2076, for which we have recorded a $10.4 million "operating lease right of use asset" (net of a $1.3 million above market liability) and an $11.6 million "operating lease liability." Approximately $2.7 million and $1.1 million of net assets acquired were allocated to other assets for "acquired lease costs" and "above market leases," respectively, and $3.6 million were allocated to other liabilities for "below market leases." (6) Approximately $1.2 million and $0.3 million of net assets acquired were allocated to other assets for "acquired lease costs" and "above market leases," respectively, and $2.7 million of net assets acquired were allocated to other liabilities for "below market leases."
2020 Property Acquisitions	2020 Property Acquisitions Date Acquired Property City/State Gross Leasable Area (GLA) Purchase Price (in square feet) (in millions) January 10, 2020 Fairfax Junction Fairfax, Virginia 49,000 $ 22.3 (1) February 12, 2020 Hoboken (2 mixed-use buildings) Hoboken, New Jersey 12,000 $ 14.3 (2) (1) This property is adjacent to, and is operated as part of the property acquired in 2019. The purchase price was paid with a combination of cash and the issuance of 163,322 downREIT operating partnership units. Approximately $0.5 million and $0.4 million of net assets acquired were allocated to other assets for "above market leases," and other liabilities for "below market leases," respectively. (2) The purchase price includes the assumption of $8.9 million of mortgage debt, and is in addition to the 37 buildings previously acquired in 2019, and was completed through the same joint venture. Less than $0.1 million and approximately $3.3 million of net assets acquired were allocated to other assets for "above market leases," and other liabilities for "below market leases," respectively.

Acquired In-Place Leases (Table

Acquired In-Place Leases (Tables)	12 Months Ended
	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Finite-Lived Intangible Assets [Table Text Block]	The following is a summary of our acquired lease assets and liabilities: December 31, 2021 December 31, 2020 Cost Accumulated Amortization Cost Accumulated Amortization (in thousands) Above market leases, lessor $ 46,951 $ (33,617) $ 43,560 $ (31,661) Below market leases, lessee 34,604 (5,019) 34,604 (4,190) Total $ 81,555 $ (38,636) $ 78,164 $ (35,851) Below market leases, lessor $ (230,059) $ 78,327 $ (174,582) $ 68,286 Above market leases, lessee (10,347) 2,654 (9,084) 2,116 Total $ (240,406) $ 80,981 $ (183,666) $ 70,402
Finite-lived Intangible Assets Amortization Expense [Table Text Block]	The following is a summary of acquired lease amortization: Year Ended December 31, 2021 2020 2019 (in thousands) Amortization of above market leases, lessor $ (3,150) $ (4,060) $ (3,239) Amortization of below market leases, lessor 11,897 8,406 9,623 Net increase in rental income $ 8,747 $ 4,346 $ 6,384 Amortization of below market leases, lessee $ 828 $ 828 $ 828 Amortization of above market leases, lessee (538) (525) (525) Net increase in rental expense $ 290 $ 303 $ 303 The following is a summary of the remaining weighted average amortization period for our acquired lease assets and acquired lease liabilities: December 31, 2021 Above market leases, lessor 3.2 years Below market leases, lessee 37.6 years Below market leases, lessor 18.1 years Above market leases, lessee 17.6 years
Amortization for acquired in-place leases during the next five years and thereafter	The amortization for acquired leases during the next five years and thereafter, assuming no early lease terminations, is as follows: Acquired Lease Assets Acquired Lease Liabilities (In thousands) Year ending December 31, 2022 $ 3,674 $ 13,541 2023 3,446 12,962 2024 3,139 12,450 2025 2,126 8,984 2026 1,931 8,622 Thereafter 28,603 102,866 $ 42,919 $ 159,425

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2021
Debt Instruments [Abstract]
Schedule of principal payments on mortgages payable, notes payable, senior notes and debentures	Scheduled principal payments on mortgages payable, notes payable, senior notes and debentures as of December 31, 2021 are as follows: Mortgages Notes Senior Notes and Total (In thousands) Year ending December 31, 2022 $ 3,351 $ 744 $ — $ 4,095 2023 3,549 758 275,000 279,307 2024 3,688 300,659 (1)(2) 600,000 904,347 2025 48,033 383 — 48,416 2026 26,657 54 429,200 455,911 Thereafter 256,301 37 2,115,000 2,371,338 $ 341,579 $ 302,635 $ 3,419,200 $ 4,063,414 (3) _____________________ (1) Our $300.0 million term loan matures on April 16, 2024 plus two one-year extensions, at our option. (2) Our $1.0 billion revolving credit facility matures on January 19, 2024, plus two six-month extensions at our option. As of December 31, 2021, there was no balance outstanding under this credit facility. (3) The total debt maturities differ from the total reported on the consolidated balance sheet due to the unamortized net debt issuance costs and premium/discount on mortgage loans, notes payable, and senior notes as of December 31, 2021.

Fair Value Of Financial Instr_2

Fair Value Of Financial Instruments Fair Value Of Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Summary of carrying amount and fair value of financial instruments	A summary of the carrying amount and fair value of our mortgages payable, notes payable and senior notes and debentures is as follows: December 31, 2021 December 31, 2020 Carrying Fair Value Carrying Fair Value (In thousands) Mortgages and notes payable $ 641,459 $ 655,864 $ 886,887 $ 879,390 Senior notes and debentures $ 3,406,088 $ 3,649,776 $ 3,404,488 $ 3,761,465
Summary of financial assets/(liabilities) measured at fair value on a recurring basis	A summary of our financial liabilities that are measured at fair value on a recurring basis, by level within the fair value hierarchy is as follows: December 31, 2021 December 31, 2020 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total (In thousands) Interest rate swaps $ — $ (1,511) $ — $ (1,511) $ — $ (4,711) $ — $ (4,711)

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Minimum annual payments	We are obligated under operating lease agreements on several shopping centers and one office lease requiring minimum annual payments as follows, as of December 31, 2021: (In thousands) Year ending December 31, 2022 $ 5,191 2023 5,278 2024 5,455 2025 5,326 2026 4,831 Thereafter 177,395 Total future minimum operating lease payments 203,476 Less amount representing interest (130,815) Operating lease liabilities $ 72,661
Finance Lease, Liability, Fiscal Year Maturity	Future minimum lease payments and their present value for properties under finance leases as of December 31, 2021, are as follows: (In thousands) Year ending December 31, 2022 $ 5,810 2023 60,013 2024 1,013 2025 1,013 2026 1,013 Thereafter 79,824 Total future minimum finance lease payments 148,686 Less amount representing interest (76,654) Finance lease liabilities $ 72,032

Dividends (Tables)

Dividends (Tables)	12 Months Ended
	Dec. 31, 2021
Dividends [Abstract]
Summary of dividends declared and paid per share	The following table provides a summary of dividends declared and paid per share: Year Ended December 31, 2021 2020 2019 Declared Paid Declared Paid Declared Paid Common shares $ 4.260 $ 4.250 $ 4.220 $ 4.210 $ 4.140 $ 4.110 5.417% Series 1 Cumulative Convertible Preferred shares $ 1.354 $ 1.354 $ 1.354 $ 1.354 $ 1.354 $ 1.354 5.0% Series C Cumulative Redeemable Preferred shares (1) $ 1.250 $ 1.250 $ 1.250 $ 1.250 $ 1.250 $ 1.250 (1) Amount represents dividends per depositary share, each representing 1/1000th of a share.
Summary of income tax status of dividends per share paid	A summary of the income tax status of dividends per share paid is as follows: Year Ended December 31, 2021 2020 2019 Common shares Ordinary dividend $ 3.358 $ 3.452 $ 4.110 Capital gain 0.680 — — Return of capital 0.212 0.758 — $ 4.250 $ 4.210 $ 4.110 5.417% Series 1 Cumulative Convertible Preferred shares Ordinary dividend $ 1.124 $ 1.354 $ 1.354 Capital gain 0.230 — — $ 1.354 $ 1.354 $ 1.354 5.0% Series C Cumulative Redeemable Preferred shares Ordinary dividend $ 1.038 $ 1.250 1.250 Capital gain 0.212 — — $ 1.250 $ 1.250 $ 1.250

Operating Leases (Tables)

Operating Leases (Tables)	12 Months Ended
	Dec. 31, 2021
Leases [Abstract]
Schedule of minimum future commercial property rentals from noncancelable operating leases	As of December 31, 2021, future minimum rentals from noncancelable commercial operating leases (excluding both tenant reimbursements of operating expenses and percentage rent based on tenants' sales) are as follows: (In thousands) Year ending December 31, 2022 $ 634,134 2023 596,004 2024 531,652 2025 447,549 2026 376,692 Thereafter 1,675,278 $ 4,261,309
LEASE COST	The following table provides additional information on our operating and finance leases where we are the lessee: Year Ended December 31, 2021 2020 2019 (In thousands) LEASE COST: Finance lease cost: Amortization of right-of-use assets $ 1,284 $ 1,284 $ 1,284 Interest on lease liabilities 5,828 5,826 5,824 Operating lease cost 5,687 5,946 6,063 Variable lease cost 246 353 487 Total lease cost $ 13,045 $ 13,409 $ 13,658 OTHER INFORMATION: Cash paid for amounts included in the measurement of lease liabilities Operating cash flows for finance leases $ 5,723 $ 5,736 $ 5,759 Operating cash flows for operating leases $ 5,288 $ 5,498 $ 5,561 Financing cash flows for finance leases $ 51 $ 46 $ 47 December 31, 2021 2020 Weighted-average remaining term - finance leases 16.3 years 17.3 years Weighted-average remaining term - operating leases 52.8 years 53.4 years Weighted-average discount rate - finance leases 8.0 % 8.0 % Weighted-average discount rate - operating leases 4.5 % 4.4 % ROU assets obtained in exchange for operating lease liabilities $ 10,341 $ 855

Components of Rental Expense (T

Components of Rental Expense (Tables)	12 Months Ended
	Dec. 31, 2021
Components Of Rental Expense [Abstract]
Schedule of principal components of rental expenses	The principal components of rental expenses are as follows: Year Ended December 31, 2021 2020 2019 (In thousands) Repairs and maintenance $ 78,028 $ 66,845 $ 73,179 Utilities 27,808 25,065 27,729 Management fees and costs 24,919 23,752 24,930 Payroll 18,341 16,691 16,485 Insurance 14,406 12,439 9,036 Marketing 7,481 6,432 7,427 Ground rent 4,571 4,595 4,803 Other operating (1) 22,567 15,101 24,242 Total rental expenses $ 198,121 $ 170,920 $ 187,831 _____________________ (1) Other operating for the year ended December 31, 2019 includes an $11.9 million charge relating to the buyout of a lease at Assembly Square Marketplace.

Share-Based Compensation Plans

Share-Based Compensation Plans (Tables)	12 Months Ended
	Dec. 31, 2021
Share-based Payment Arrangement [Abstract]
Summary of share-based compensation expense	A summary of share-based compensation expense included in net income is as follows: Year Ended December 31, 2021 2020 2019 (In thousands) Grants of common shares and options $ 14,434 $ 13,243 $ 13,330 Capitalized share-based compensation (1,425) (1,319) (1,054) Share-based compensation expense $ 13,009 $ 11,924 $ 12,276
Summary of weighted average assumptions used to value options granted	The following table provides a summary of the assumptions used to value options granted in 2021: Year Ended December 31, 2021 Volatility 29.3 % Expected dividend yield 4.1 % Expected term (in years) 7.5 Risk free interest rate 0.9 %
Summary of option activity	The following table provides a summary of option activity for 2021: Shares Weighted- Weighted- Aggregate (In years) (In thousands) Outstanding at December 31, 2020 682 $ 152.34 Granted 3,658 95.77 Exercised — — Forfeited or expired (682) 152.34 Outstanding at December 31, 2021 3,658 $ 95.77 9.1 $ 148 Exercisable at December 31, 2021 — $ — — $ —
Summary of restricted share activity	The following table provides a summary of restricted share activity for 2021: Shares Weighted-Average Unvested at December 31, 2020 233,178 $ 127.32 Granted 166,746 97.46 Vested (108,735) 121.77 Forfeited (2,193) 112.05 Unvested at December 31, 2021 288,996 $ 112.29
Summary of restricted stock units activity	The following table provides a summary of restricted stock unit activity for 2021: Shares Weighted-Average Unvested at December 31, 2020 — $ — Granted 10,441 97.01 Vested — — Forfeited — — Unvested at December 31, 2021 10,441 $ 97.01
Schedule of common shares awarded under various compensation plans	Subsequent to December 31, 2021, common shares were awarded under various compensation plans as follows: Date Award Vesting Term Beneficiary January 3, 2022 5,135 Shares Immediate Trustees February 9, 2022 103,463 Restricted Shares 3-5 years Officers and key employees

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2021
Earnings Per Share [Abstract]
Schedule of earnings per share	The following potentially issuable shares were excluded from the diluted EPS calculation because their impact is anti-dilutive: • exercise of 682 stock options in 2020 and 2019, respectively, • conversions of downREIT operating partnership units and 5.417% Series 1 Cumulative Convertible Preferred Shares for 2021, 2020, and 2019, respectively, and • the issuance of 1.8 million shares issuable under forward sales agreements in 2021. Additionally, 10,441 unvested restricted stock units are excluded from the diluted EPS calculation as the market based performance criteria in the award has not yet been achieved. Year Ended December 31, 2021 2020 2019 (In thousands, except per share data) NUMERATOR Net income $ 269,081 $ 135,888 $ 360,542 Less: Preferred share dividends (8,042) (8,042) (8,042) Less: Income from operations attributable to noncontrolling interests (7,583) (4,182) (6,676) Less: Earnings allocated to unvested shares (1,211) (992) (1,007) Net income available for common shareholders, basic and diluted $ 252,245 $ 122,672 $ 344,817 DENOMINATOR Weighted average common shares outstanding—basic 77,336 75,515 74,766 Effect of dilutive securities: Open forward contracts for share issuances 32 — — Weighted average common shares outstanding—diluted 77,368 75,515 74,766 EARNINGS PER COMMON SHARE, BASIC Net income available for common shareholders $ 3.26 $ 1.62 $ 4.61 EARNINGS PER COMMON SHARE, DILUTED Net income available for common shareholders $ 3.26 $ 1.62 $ 4.61

Business And Organization (Deta

Business And Organization (Details)	12 Months Ended
	Dec. 31, 2021project
Nature Of Operations [Abstract]
Number of real estate properties	104
Minimum percentage of taxable income distributed to shareholders	90.00%

Summary Of Significant Accoun_4

Summary Of Significant Accounting Policies (Revenue Recognition and Accounts Receivable) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Accounting Policies [Abstract]
Rent deferral agreements	$ 46,000
Deferred Rent Receivables, Collected	27,000
Rent abatement agreements	26,000	$ 48,000
Collectibility Adjustment	24,000	106,600
Straight Line Rent Adjustments	$ 700	$ 12,700
Percentage of tenants with revenue recognized on a cash basis	34.00%	35.00%
Straight line rent receivable	$ 110,700	$ 103,300

Summary Of Significant Accoun_5

Summary Of Significant Accounting Policies (Real Estate) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Depreciation Expense Real Estate	$ 245.1	$ 227.9	$ 215.4
Building and Building Improvements | Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives	35 years
Building and Building Improvements | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives	50 years
Minor Improvements, Furniture and Equipment | Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives	2 years
Minor Improvements, Furniture and Equipment | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives	20 years

Summary Of Significant Accoun_6

Summary Of Significant Accounting Policies (Cash and Cash Equivalents) (Details) $ in Millions	Dec. 31, 2021USD ($)
Accounting Policies [Abstract]
Cash in excess of the FDIC insured limit	$ 167.3

Summary Of Significant Accoun_7

Summary Of Significant Accounting Policies (Prepaid Expenses and Other Assets) (Details)	12 Months Ended
	Dec. 31, 2021
Minimum
Prepaid expenses and other assets
Capitalized lease costs amortization range	3 years
Maximum
Prepaid expenses and other assets
Capitalized lease costs amortization range	10 years

Summary Of Significant Accoun_8

Summary Of Significant Accounting Policies (Derivative Instruments and Mortgage Notes Receivable) (Details) $ in Millions	May 11, 2021USD ($)	Dec. 31, 2021USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of mortgage receivables		3
Mortgage receivable, net of valuation allowances		$ 9.5
Weighted average interest rate on mortgage note receivables		10.90%
Net proceeds from repayment of mortgage notes receivable	$ 33.8
Decrease in mortgage notes receivable, net valuation allowance	$ 30.3
Hoboken
Derivatives, Fair Value [Line Items]
Number of interest rate swap agreements		2
Assembly Row Hotel
Derivatives, Fair Value [Line Items]
Number of interest rate swap agreements		2
One of our equity method investees | Assembly Row Hotel
Derivatives, Fair Value [Line Items]
Fixed interest rate of derivative instrument		5.206%
Hoboken | Mortgages Payable
Derivatives, Fair Value [Line Items]
Number of interest rate swap agreements		2
Fixed interest rate of derivative instrument		3.67%

Summary Of Significant Accoun_9

Summary Of Significant Accounting Policies (Variable Interest Entities) (Details) $ in Thousands	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)
Variable Interest Entity [Line Items]
Maximum exposure to loss in variable interest entity	$ 9,500	$ 39,900
Number of consolidated variable interest entities	21
Net real estate assets of consolidated VIEs	$ 1,800,000	1,400,000
Mortgage Payable From Consolidated Variable Interest Entities	335,301	413,681
Unconsolidated variable interest entities | La Alameda & Assembly Row Hotel
Variable Interest Entity [Line Items]
Maximum exposure to loss in variable interest entity	$ 8,900	9,900
Unconsolidated variable interest entities | Pike&Rose Hotel JV
Variable Interest Entity [Line Items]
Maximum exposure to loss in variable interest entity		$ 8,800

Summary Of Significant Accou_10

Summary Of Significant Accounting Policies (Redeemable Noncontrolling Interests) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Rollforward of Redeemable Noncontrolling Interests
Beginning balance	$ 137,720	$ 139,758
Contributions	74,530	19,335	$ 9,961
Net income	4,296	2,228	3,430
Other comprehensive income (loss) - change in value of interest rate swaps	320	(471)	0
Distributions & redemptions	5,268	1,197	4,094
Change in redemption value	2,110	(21,933)
Ending balance	$ 213,708	$ 137,720	$ 139,758

Summary Of Significant Accou_11

Summary Of Significant Accounting Policies Lease Information (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)	Dec. 31, 2021properties
Accounting Policies [Abstract]
Number of properties subject to operating leases | properties		12
Accounting Standards Update 2016-02
Lessor, Lease, Description [Line Items]
Cumulative Effect on Retained Earnings | $	$ 7,100

Summary Of Significant Accou_12

Summary Of Significant Accounting Policies (Income Taxes, Segments, and Forward Equity Sales) (Details)	12 Months Ended
	Dec. 31, 2021USD ($)propertysegment	May 07, 2021USD ($)	Feb. 24, 2021USD ($)
Accounting Policies [Abstract]
Minimum percentage of taxable income distributed to shareholders	90.00%
Material unrecognized tax benefits	$ 0
Number of properties exceeding segment reporting threshold | property	0
Segment Reporting, Factors Used to Identify Entity's Reportable Segments	10% of our revenues or property operating income
Number of segments | segment	1
At The Market Equity Program
Class of Stock [Line Items]
Aggregate offering price of common shares		$ 500,000,000	$ 500,000,000

Summary Of Significant Accou_13

Summary Of Significant Accounting Policies (Supplemental Cash Flow Disclosures) (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Supplemental Cash Flow Information [Abstract]
Total interest costs incurred		$ 150,324	$ 159,718	$ 130,110
Interest capitalized		22,626	23,429	20,487
Interest expense		127,698	136,289	109,623
Cash paid for interest, net of amounts capitalized		123,585	130,248	106,180
Cash paid for income taxes		386	580	483
NON-CASH INVESTING AND FINANCING TRANSACTIONS:
DownREIT operating partnership units issued with acquisition		0	18,920	0
Mortgage loans assumed with acquisition	[1]	0	8,903	98,041
DownREIT operating partnership units redeemed for common shares		7,545	0	14,105
Settlement of partner loan via dilution		0	0	5,379
Shares issued under dividend reinvestment plan		$ 1,727	$ 1,734	$ 1,784
[1]	See our Annual Report on Form 10-K for the year ended December 31, 2020 for additional disclosures relating to the mortgages entered into and assumed as a result of the Hoboken acquisition

Summary Of Significant Accou_14

Summary Of Significant Accounting Policies Consolidated Statement of Cash Flows - Reconciliation of Cash, Cash Equivalents, and Restricted Cash (Details) - USD ($) $ in Thousands		Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract]
Cash and cash equivalents		$ 162,132	$ 798,329
Restricted cash	[1]	13,031	18,567
Total cash, cash equivalents, and restricted cash		$ 175,163	$ 816,896	$ 153,614	$ 108,332
[1]	Restricted cash balances are included in "prepaid expenses and other assets" on our consolidated balance sheets.

Real Estate (2021 Property Acqu

Real Estate (2021 Property Acquisitions and Dispositions) (Details) $ in Thousands		Sep. 02, 2021USD ($)ft²	Jun. 14, 2021USD ($)ft²	Jun. 01, 2021USD ($)ft²	Apr. 30, 2021USD ($)ft²	Feb. 22, 2021USD ($)	Jan. 04, 2021USD ($)	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Business Acquisition and Disposition
Operating lease right of use assets								$ 90,743	$ 92,248
Operating lease liabilities								72,661	72,441
Gain on sale of real estate								89,950	$ 98,117	$ 116,393
Pike&Rose Hotel JV
Business Acquisition and Disposition
Ownership interest of partner in our joint venture							20.00%
Purchase price of partners interest							$ 2,300
Repayments of Secured Debt							31,500
Gain on acquisition of controlling interest							$ 2,100
Mount Vernon/South Valley/7770 Richmond Hwy,
Business Acquisition and Disposition
Purchase price of real estate acquisition						$ 5,600
Decrease in operating lease right of use assets								9,800
Decrease of operating lease liability						$ 9,800
Chesterbrook
Business Acquisition and Disposition
Square footage of real estate property | ft²	[1]				90,000
Ownership %	[1]				80.00%
Gross Value of Real Estate	[1],[2]				$ 32,100
Chesterbrook | Other Assets | Leases, Acquired-in-Place
Business Acquisition and Disposition
Acquired lease costs					1,900
Chesterbrook | Other Assets | Above Market Leases
Business Acquisition and Disposition
Above market leases					600
Chesterbrook | Other Liabilities
Business Acquisition and Disposition
Below market leases					$ 8,000
Grossmont Center
Business Acquisition and Disposition
Square footage of real estate property | ft²	[1]			933,000
Ownership %	[1]			60.00%
Gross Value of Real Estate	[1],[3]			$ 175,000
Grossmont Center | Other Assets | Leases, Acquired-in-Place
Business Acquisition and Disposition
Acquired lease costs				12,300
Grossmont Center | Other Assets | Above Market Leases
Business Acquisition and Disposition
Above market leases				2,600
Grossmont Center | Other Liabilities
Business Acquisition and Disposition
Below market leases				$ 14,700
Camelback Colonnade
Business Acquisition and Disposition
Square footage of real estate property | ft²	[1]		642,000
Ownership %	[1]		98.00%
Gross Value of Real Estate	[1],[4]		$ 162,500
Camelback Colonnade | Other Assets | Leases, Acquired-in-Place
Business Acquisition and Disposition
Acquired lease costs			11,600
Camelback Colonnade | Other Liabilities
Business Acquisition and Disposition
Below market leases			$ 28,300
Hilton Village
Business Acquisition and Disposition
Square footage of real estate property | ft²	[1]		93,000
Ownership %	[1]		98.00%
Gross Value of Real Estate	[1],[5]		$ 37,500
Operating lease right of use assets			10,400
Above Market Liability			1,300
Operating lease liabilities			11,600
Hilton Village | Other Assets | Leases, Acquired-in-Place
Business Acquisition and Disposition
Acquired lease costs			2,700
Hilton Village | Other Assets | Above Market Leases
Business Acquisition and Disposition
Above market leases			1,100
Hilton Village | Other Liabilities
Business Acquisition and Disposition
Below market leases			$ 3,600
Twinbrooke Shopping Centre
Business Acquisition and Disposition
Square footage of real estate property | ft²		106,000
Ownership %		100.00%
Gross Value of Real Estate	[6]	$ 33,800
Twinbrooke Shopping Centre | Other Assets | Leases, Acquired-in-Place
Business Acquisition and Disposition
Acquired lease costs		1,200
Twinbrooke Shopping Centre | Other Assets | Above Market Leases
Business Acquisition and Disposition
Above market leases		300
Twinbrooke Shopping Centre | Other Liabilities
Business Acquisition and Disposition
Below market leases		$ 2,700
Two properties 2021
Business Acquisition and Disposition
Sales price of real estate								141,600
Gain on sale of real estate								$ 88,300
[1]	These acquisitions were completed through newly formed joint ventures, for which we own the controlling interest listed above, and therefore, these properties are consolidated in our financial statements.
[2]	Approximately $1.9 million and $0.6 million of net assets acquired were allocated to other assets for "acquired lease costs" and "above market leases," respectively, and $8.0 million of net assets acquired were allocated to other liabilities for "below market leases."
[3]	Approximately $12.3 million and $2.6 million of net assets acquired were allocated to other assets for "acquired lease costs" and "above market leases," respectively, and $14.7 million of net assets acquired were allocated to other liabilities for "below market leases."
[4]	Approximately $11.6 million of net assets acquired were allocated to other assets for "acquired lease costs" and $28.3 million were allocated to other liabilities for "below market leases."
[5]	The land is controlled under a long-term ground lease that expires on December 31, 2076, for which we have recorded a $10.4 million "operating lease right of use asset" (net of a $1.3 million above market liability) and an $11.6 million "operating lease liability." Approximately $2.7 million and $1.1 million of net assets acquired were allocated to other assets for "acquired lease costs" and "above market leases," respectively, and $3.6 million were allocated to other liabilities for "below market leases."
[6]	Approximately $1.2 million and $0.3 million of net assets acquired were allocated to other assets for "acquired lease costs" and "above market leases," respectively, and $2.7 million of net assets acquired were allocated to other liabilities for "below market leases."

Real Estate (2020 Property Acqu

Real Estate (2020 Property Acquisitions and Dispositions) (Details)

Sep. 02, 2021USD ($)ft²

Jun. 14, 2021USD ($)ft²

Jun. 01, 2021USD ($)ft²

Apr. 30, 2021USD ($)ft²

Dec. 31, 2020USD ($)

Feb. 12, 2020USD ($)ft²

Jan. 10, 2020USD ($)ft²shares

Sep. 30, 2020USD ($)

Dec. 31, 2021USD ($)

Dec. 31, 2020USD ($)

Dec. 31, 2019USD ($)

Sep. 01, 2020USD ($)

Business Acquisition and Disposition

DownREIT Partnership Units, issued in acquisition | shares

163,322

Mortgage loans assumed with acquisition

[1]

$ 0

$ 8,903,000

$ 98,041,000

Impairment charge

0

57,218,000

0

Fair value of property

$ 57,000,000

57,000,000

Gain on sale of real estate

89,950,000

98,117,000

$ 116,393,000

Chesterbrook

Business Acquisition and Disposition

Square footage of real estate property | ft²

[2]

90,000

Grossmont Center

Business Acquisition and Disposition

Square footage of real estate property | ft²

[2]

933,000

Camelback Colonnade

Business Acquisition and Disposition

Square footage of real estate property | ft²

[2]

642,000

Hilton Village

Business Acquisition and Disposition

Square footage of real estate property | ft²

[2]

93,000

Twinbrooke Shopping Centre

Business Acquisition and Disposition

Square footage of real estate property | ft²

106,000

Two properties 2021

Business Acquisition and Disposition

Sales price of real estate

141,600,000

Gain on sale of real estate

$ 88,300,000

Fairfax Junction

Business Acquisition and Disposition

Square footage of real estate property | ft²

49,000

Purchase price of real estate acquisition

[3]

$ 22,300,000

Hoboken

Business Acquisition and Disposition

Square footage of real estate property | ft²

12,000

Purchase price of real estate acquisition

[4]

$ 14,300,000

The Shops at Sunset Place

Business Acquisition and Disposition

Impairment charge

$ 57,200,000

Sales price of real estate

65,500,000

Gain on sale of real estate

$ 9,200,000

The Shops at Sunset Place | Nonrecourse | Mortgages

Business Acquisition and Disposition

Debt Instrument, Face Amount

$ 60,600,000

Hoboken2Buildings | Mortgages

Business Acquisition and Disposition

Mortgage loans assumed with acquisition

8,900,000

Three properties 2020

Business Acquisition and Disposition

Sales price of real estate

186,100,000

Gain on sale of real estate

98,100,000

Other Assets | Above Market Leases | Chesterbrook

Business Acquisition and Disposition

Above market leases

$ 600,000

Other Assets | Above Market Leases | Grossmont Center

Business Acquisition and Disposition

Above market leases

$ 2,600,000

Other Assets | Above Market Leases | Hilton Village

Business Acquisition and Disposition

Above market leases

$ 1,100,000

Other Assets | Above Market Leases | Twinbrooke Shopping Centre

Business Acquisition and Disposition

Above market leases

$ 300,000

Other Assets | Above Market Leases | Fairfax Junction

Business Acquisition and Disposition

Above market leases

500,000

Other Assets | Above Market Leases | Hoboken

Business Acquisition and Disposition

Above market leases

100,000

Other Liabilities | Chesterbrook

Business Acquisition and Disposition

Below market leases

$ 8,000,000

Other Liabilities | Grossmont Center

Business Acquisition and Disposition

Below market leases

$ 14,700,000

Other Liabilities | Camelback Colonnade

Business Acquisition and Disposition

Below market leases

28,300,000

Other Liabilities | Hilton Village

Business Acquisition and Disposition

Below market leases

$ 3,600,000

Other Liabilities | Twinbrooke Shopping Centre

Business Acquisition and Disposition

Below market leases

$ 2,700,000

Other Liabilities | Fairfax Junction

Business Acquisition and Disposition

Below market leases

$ 400,000

Other Liabilities | Hoboken

Business Acquisition and Disposition

Below market leases

$ 3,300,000

Condominiums | Pike & Rose

Business Acquisition and Disposition

Sales price of real estate

$ 2,100,000

Number of condominium units sold

2

[1]

See our Annual Report on Form 10-K for the year ended December 31, 2020 for additional disclosures relating to the mortgages entered into and assumed as a result of the Hoboken acquisition

[2]

These acquisitions were completed through newly formed joint ventures, for which we own the controlling interest listed above, and therefore, these properties are consolidated in our financial statements.

[3]

) This property is adjacent to, and is operated as part of the property acquired in 2019. The purchase price was paid with a combination of cash and the issuance of 163,322 downREIT operating partnership units. Approximately $0.5 million and $0.4 million of net assets acquired were allocated to other assets for "above market leases," and other liabilities for "below market leases," respectively.

[4]

The purchase price includes the assumption of $8.9 million of mortgage debt, and is in addition to the 37 buildings previously acquired in 2019, and was completed through the same joint venture. Less than $0.1 million and approximately $3.3 million of net assets acquired were allocated to other assets for "above market leases," and other liabilities for "below market leases," respectively.

Acquired In-Place Leases Acqure

Acquired In-Place Leases Acqured Lease Assets and Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Total	$ 81,555	$ 78,164
Finite-Lived Intangible Assets, Accumulated Amortization	(38,636)	(35,851)
Finite-Lived Intangible Liabilities, Total	(240,406)	(183,666)
Finite-Lived Intangible Liabilities, Accumulated Amortization	80,981	70,402
Amortization of below market leases, lessor	11,897	8,406	$ 9,623
Net increase in rental income	8,747	4,346	6,384
Amortization of Below Market Lease, Lessee	828	828	828
Net increase in rental expense	290	303	303
Acquired Lease Liabilities
2022	13,541
2023	12,962
2024	12,450
2025	8,984
2026	8,622
Thereafter	102,866
Total future amortization expense from acquired below market leases	159,425
Above Market Leases
Acquired Finite-Lived Intangible Assets [Line Items]
Amortization of above market leases, lessor	(3,150)	(4,060)	(3,239)
Amortization of above market leases, lessee	$ (538)	(525)	$ (525)
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	3 years 2 months 12 days
Acquired Finite-Lived Intangible Liabilities, Weighted Average Useful Life	18 years 1 month 6 days
Acquired Lease Assets
2022	$ 3,674
2023	3,446
2024	3,139
2025	2,126
2026	1,931
Thereafter	28,603
Acquired Lease Liabilities
Finite-Lived Intangible Assets, Net	42,919
Above Market Leases, Lessor
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Total	46,951	43,560
Finite-Lived Intangible Assets, Accumulated Amortization	(33,617)	(31,661)
Below Market Leases, Lessee
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Total	34,604	34,604
Finite-Lived Intangible Assets, Accumulated Amortization	$ (5,019)	(4,190)
Below Market Lease
Acquired Finite-Lived Intangible Assets [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	37 years 7 months 6 days
Acquired Finite-Lived Intangible Liabilities, Weighted Average Useful Life	17 years 7 months 6 days
Below Market Leases, Lessor
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Liabilities, Total	$ (230,059)	(174,582)
Finite-Lived Intangible Liabilities, Accumulated Amortization	78,327	68,286
Above Market Leases, Lessee
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Liabilities, Total	(10,347)	(9,084)
Finite-Lived Intangible Liabilities, Accumulated Amortization	$ 2,654	$ 2,116

Debt (Summary Of Debt Outstandi

Debt (Summary Of Debt Outstanding) (Details) - USD ($) $ in Thousands	Apr. 16, 2021	Mar. 31, 2021	Dec. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Mortgages payable			$ 339,993	$ 484,111
Revolving credit facility			0	0
Notes Payable			301,466	402,776
Net unamortized discount and debt issuance costs			(1,169)	(494)
Senior notes and debentures, net			3,406,088	3,404,488
Total debt			4,047,547	4,291,375
Mortgages Payable
Debt Instrument [Line Items]
Principal balance			341,579	486,035
Net unamortized (discount) premium and debt issuance costs			(1,586)	(1,924)
Notes Payable
Debt Instrument [Line Items]
Notes Payable			302,635	403,270
Senior Notes and Debentures
Debt Instrument [Line Items]
Principal balance			3,419,200	3,419,200
Net unamortized (discount) premium and debt issuance costs			(13,112)	(14,712)
Term Loan
Debt Instrument [Line Items]
Other Notes Payable		$ 400,000	300,000
Basis Spread on LIBOR Interest	0.80%	1.35%
Sylmar Towne Center | Mortgages Payable
Debt Instrument [Line Items]
Principal balance			$ 0	16,236
Interest rate			5.39%
Plaza Del Sol | Mortgages Payable
Debt Instrument [Line Items]
Principal balance			$ 0	8,041
Interest rate			5.23%
THE AVENUE at White Marsh | Mortgages Payable
Debt Instrument [Line Items]
Principal balance			$ 0	52,705
Interest rate			3.35%
Montrose Crossing | Mortgages Payable
Debt Instrument [Line Items]
Principal balance			$ 0	65,596
Interest rate			4.20%
Azalea | Mortgages Payable
Debt Instrument [Line Items]
Principal balance			$ 40,000	40,000
Interest rate			3.73%
Bell Gardens | Mortgages Payable
Debt Instrument [Line Items]
Principal balance			$ 12,127	12,408
Interest rate			4.06%
Plaza El Segundo | Mortgages Payable
Debt Instrument [Line Items]
Principal balance			$ 125,000	125,000
Interest rate			3.83%
Brook 35 | Mortgages Payable
Debt Instrument [Line Items]
Principal balance			$ 11,500	11,500
Interest rate			4.65%
Hoboken (24 Buildings) | Mortgages Payable
Debt Instrument [Line Items]
Principal balance			$ 56,450	56,450
Basis Spread on LIBOR Interest			1.95%
Grove at Shrewsbury (East) | Mortgages Payable
Debt Instrument [Line Items]
Principal balance			$ 43,600	43,600
Interest rate			3.77%
Hoboken (14 Buildings) | Mortgages Payable
Debt Instrument [Line Items]
Principal balance			$ 31,817	32,705
Chelsea | Mortgages Payable
Debt Instrument [Line Items]
Principal balance			$ 4,851	5,234
Interest rate			5.36%
Hoboken (1 Building) | Mortgages Payable
Debt Instrument [Line Items]
Principal balance			$ 16,234	16,560
Interest rate			3.75%
Term Loan | Notes Payable
Debt Instrument [Line Items]
Other Notes Payable				400,000
Basis Spread on LIBOR Interest			0.80%
Various | Notes Payable
Debt Instrument [Line Items]
Interest rate			11.31%
Other Notes Payable			$ 2,635	3,270
2.75% notes | Senior Notes and Debentures
Debt Instrument [Line Items]
Principal balance			$ 275,000	275,000
Interest rate			2.75%
3.95% notes | Senior Notes and Debentures
Debt Instrument [Line Items]
Principal balance			$ 600,000	600,000
Interest rate			3.95%
7.48% debentures | Senior Notes and Debentures
Debt Instrument [Line Items]
Principal balance			$ 29,200	29,200
Interest rate			7.48%
3.25% Senior notes | Senior Notes and Debentures
Debt Instrument [Line Items]
Principal balance			$ 475,000	475,000
Interest rate			3.25%
6.82% medium term notes | Senior Notes and Debentures
Debt Instrument [Line Items]
Principal balance			$ 40,000	40,000
Interest rate			6.82%
3.2% Senior Note | Senior Notes and Debentures
Debt Instrument [Line Items]
Principal balance			$ 400,000	400,000
Interest rate			3.20%
4.50% notes | Senior Notes and Debentures
Debt Instrument [Line Items]
Principal balance			$ 550,000	550,000
Interest rate			4.50%
3.625% Senior notes | Senior Notes and Debentures
Debt Instrument [Line Items]
Principal balance			$ 250,000	250,000
Interest rate			3.625%
1.25% Senior Note [Member] | Senior Notes and Debentures
Debt Instrument [Line Items]
Principal balance			$ 400,000	400,000
Interest rate			1.25%
3.5% Senior Note [Member] | Senior Notes and Debentures
Debt Instrument [Line Items]
Principal balance			$ 400,000	$ 400,000
Interest rate			3.50%
Revolving credit facility | Notes Payable
Debt Instrument [Line Items]
Basis Spread on LIBOR Interest			0.775%
Hoboken | Mortgages Payable
Debt Instrument [Line Items]
Principal balance			$ 56,500
Number of interest rate swap agreements			2
Fixed interest rate of derivative instrument			3.67%
Minimum | Hoboken (14 Buildings) | Mortgages Payable
Debt Instrument [Line Items]
Interest rate			3.91%
Maximum | Hoboken (14 Buildings) | Mortgages Payable
Debt Instrument [Line Items]
Interest rate			5.00%

Debt (Narrative) (Details)

Debt (Narrative) (Details) - USD ($) $ in Thousands	Nov. 02, 2021	Oct. 12, 2021	Sep. 01, 2021	Apr. 16, 2021	Feb. 05, 2021	Mar. 31, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Revolving credit facility							$ 0	$ 0
Maximum borrowing capacity under revolving credit facility							1,000,000
Maximum amount of borrowings outstanding							150,000	990,000	$ 116,500
Weighted average amount of borrowings outstanding							$ 19,600	$ 138,500	$ 26,800
Weighted average interest rate before amortization of debt fees							0.90%	1.50%	3.20%
Line of credit facility, annual facility fee							$ 1,000
Sylmar Towne Center
Debt Instrument [Line Items]
Repayments of Secured Debt					$ 16,200
Plaza Del Sol
Debt Instrument [Line Items]
Repayments of Secured Debt			$ 7,900
Montrose Crossing
Debt Instrument [Line Items]
Repayments of Secured Debt		$ 64,100
THE AVENUE at White Marsh
Debt Instrument [Line Items]
Repayments of Secured Debt	$ 52,700
Term Loan
Debt Instrument [Line Items]
Repayments of Debt				$ 100,000
Other Notes Payable						$ 400,000	$ 300,000
Basis Spread on LIBOR Interest				0.80%		1.35%
Term Loan | Notes Payable
Debt Instrument [Line Items]
Other Notes Payable								$ 400,000
Basis Spread on LIBOR Interest							0.80%

Debt (Principal Payments On Mor

Debt (Principal Payments On Mortgage Payable, Notes Payable, Senior Notes and Debentures) (Details) - USD ($) $ in Thousands		Dec. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
2022		$ 4,095
2023		279,307
2024		904,347
2025		48,416
2026		455,911
Thereafter		2,371,338
Long-term Debt	[1]	4,063,414
Maximum borrowing capacity under revolving credit facility		1,000,000
Revolving credit facility		0	$ 0
Mortgages Payable
Debt Instrument [Line Items]
Principal balance		341,579	486,035
2022		3,351
2023		3,549
2024		3,688
2025		48,033
2026		26,657
Thereafter		256,301
Long-term Debt		341,579
Notes Payable
Debt Instrument [Line Items]
2022		744
2023		758
2024	[2],[3]	300,659
2025		383
2026		54
Thereafter		37
Long-term Debt		302,635
Senior Notes and Debentures
Debt Instrument [Line Items]
Principal balance		3,419,200	$ 3,419,200
2022		0
2023		275,000
2024		600,000
2025		0
2026		429,200
Thereafter		2,115,000
Long-term Debt		$ 3,419,200
[1]	The total debt maturities differ from the total reported on the consolidated balance sheet due to the unamortized net debt issuance costs and premium/discount on mortgage loans, notes payable, and senior notes as of December 31, 2021
[2]	Our $1.0 billion revolving credit facility matures on January 19, 2024, plus two six-month extensions at our option. As of December 31, 2021, there was no balance outstanding under this credit facility.
[3]	Our $300.0 million term loan matures on April 16, 2024 plus two one-year extensions, at our option.

Fair Value Of Financial Instr_3

Fair Value Of Financial Instruments (Summary Of Carrying Amount And Fair Value Of Financial Instruments) (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Mortgages payable and notes payable | Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Fair value of long-term debt	$ 641,459	$ 886,887
Mortgages payable and notes payable | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Fair value of long-term debt	655,864	879,390
Senior notes and debentures | Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Fair value of long-term debt	3,406,088	3,404,488
Senior notes and debentures | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Fair value of long-term debt	$ 3,649,776	$ 3,761,465

Fair Value Of Financial Instr_4

Fair Value Of Financial Instruments (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)agreement	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Increase (Decrease) in Derivative Liabilities	$ 3,200
Amount reclassified from other comprehensive income to interest expense	900
Other comprehensive loss - change in value of interest rate swaps	3,917	$ (5,302)	$ (397)
Prepaid expenses and other assets
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Derivative Liability	1,500
Fair Value, Measurements, Recurring | Interest Rate Swap
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Derivative Liability	(1,511)	(4,711)
Accumulated Other Comprehensive loss
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Other comprehensive loss - change in value of interest rate swaps			$ (397)
Accumulated Other Comprehensive loss | One of our equity method investees
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Other comprehensive loss - change in value of interest rate swaps	700	500
Mortgage Payable
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Mortgage payable	$ 341,579	$ 486,035
Hoboken | Mortgage Payable
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Number of interest rate swap agreements	2
Notional amount of interest rate swap agreements	$ 56,500
Mortgage payable	$ 56,500
Fixed interest rate of derivative instrument	3.67%
Interest Rate Swap | Fair Value, Measurements, Recurring | One of our equity method investees
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Number of interest rate swap agreements | agreement	2

Fair Value Of Financial Instr_5

Fair Value Of Financial Instruments (Summary of Financial Liabilities Measured At Fair Value On A Recurring Basis) (Details) - Interest Rate Swap - Fair Value, Measurements, Recurring - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Derivative liability	$ (1,511)	$ (4,711)
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Derivative liability	0	0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Derivative liability	(1,511)	(4,711)
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Derivative liability	$ 0	$ 0

Commitments and Contingencies_2

Commitments and Contingencies (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2026	Sep. 30, 2025	Sep. 30, 2023
Loss Contingencies [Line Items]
Reserves for warranties and general liability	$ 5,200	$ 4,600
Payments from reserves	1,500	800
Letters of credit outstanding, amount	$ 4,800
DownREIT operating partnership units, outstanding	666,831
Operating partnership units outstanding, fair value	$ 90,900
Costs associated with property sold under threat of condemnation, net	0	$ 12,924	$ 0
San Antonio Center
Loss Contingencies [Line Items]
Estimated Litigation Liability	$ 32,600
Congressional Plaza | Put Option
Loss Contingencies [Line Items]
Indexed ownership interest percentage	26.63%
Maximum partnership percentage required to purchase	100.00%
Congressional Plaza | Put Option | Minimum
Loss Contingencies [Line Items]
Estimated maximum liability upon exercise of the put option	$ 67,000
Congressional Plaza | Put Option | Maximum
Loss Contingencies [Line Items]
Estimated maximum liability upon exercise of the put option	$ 71,000
Plaza El Segundo | Put Option
Loss Contingencies [Line Items]
Number of members with purchase options	2
Plaza El Segundo | Put Option | Minimum
Loss Contingencies [Line Items]
Estimated maximum liability upon exercise of the put option	$ 25,000
Plaza El Segundo | Put Option | Maximum
Loss Contingencies [Line Items]
Estimated maximum liability upon exercise of the put option	$ 28,000
The Grove at Shrewsbury | Put Option
Loss Contingencies [Line Items]
Indexed ownership interest percentage	4.10%
Brook 35 | Put Option
Loss Contingencies [Line Items]
Indexed ownership interest percentage	6.50%
Grove at Shrewsbury and Brook 35 | Put Option | Minimum
Loss Contingencies [Line Items]
Estimated maximum liability upon exercise of the put option	$ 6,000
Grove at Shrewsbury and Brook 35 | Put Option | Maximum
Loss Contingencies [Line Items]
Estimated maximum liability upon exercise of the put option	$ 7,000
Hoboken | Put Option
Loss Contingencies [Line Items]
Indexed ownership interest percentage	10.00%
Hoboken | Put Option | Minimum
Loss Contingencies [Line Items]
Estimated maximum liability upon exercise of the put option	$ 9,000
Hoboken | Put Option | Maximum
Loss Contingencies [Line Items]
Estimated maximum liability upon exercise of the put option	$ 10,000
Camelback Colonnade and Hilton Village | Put Option
Loss Contingencies [Line Items]
Indexed ownership interest percentage	2.00%
Camelback Colonnade and Hilton Village | Put Option | Minimum
Loss Contingencies [Line Items]
Estimated maximum liability upon exercise of the put option	$ 4,000
Camelback Colonnade and Hilton Village | Put Option | Maximum
Loss Contingencies [Line Items]
Estimated maximum liability upon exercise of the put option	$ 5,000
Grossmont Center | Put Option
Loss Contingencies [Line Items]
Indexed ownership interest percentage	40.00%
Grossmont Center | Put Option | Minimum
Loss Contingencies [Line Items]
Estimated maximum liability upon exercise of the put option	$ 68,000
Grossmont Center | Put Option | Maximum
Loss Contingencies [Line Items]
Estimated maximum liability upon exercise of the put option	$ 73,000
Scenario, Forecast | Mercer Mall
Loss Contingencies [Line Items]
Purchase price under option						$ 55,000
Scenario, Forecast | Mercer Mall | Put Option
Loss Contingencies [Line Items]
Purchase price under option					$ 60,000
Scenario, Forecast | Melville Mall
Loss Contingencies [Line Items]
Purchase price under option					$ 3,600
Scenario, Forecast | Melville Mall | Put Option
Loss Contingencies [Line Items]
Purchase price under option				$ 3,600
Member One In Plaza El Segundo | Plaza El Segundo | Put Option
Loss Contingencies [Line Items]
Indexed ownership interest percentage	10.00%
Member Two In Plaza El Segundo | Plaza El Segundo | Put Option
Loss Contingencies [Line Items]
Indexed ownership interest percentage	11.80%
Capital Improvement, Development, and Redevelopment Projects
Loss Contingencies [Line Items]
Contractual obligations	$ 319,200

Commitments and Contingencies F

Commitments and Contingencies Future Minimum Lease Payments (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]
2022	$ 5,191
2023	5,278
2024	5,455
2025	5,326
2026	4,831
Thereafter	177,395
Total future minimum operating lease payments	203,476
Less amount representing interest	(130,815)
Operating lease liabilities	$ 72,661	$ 72,441

Commitments and Contingencies_3

Commitments and Contingencies Finance Lease Payments (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Finance Lease, Liability, Payment, Due [Abstract]
2022	$ 5,810
2023	60,013
2024	1,013
2025	1,013
2026	1,013
Thereafter	79,824
Total future minimum finance lease payments	148,686
Less amount representing interest	(76,654)
Finance lease liabilities	$ 72,032	$ 72,049

Shareholders' Equity (Details)

Shareholders' Equity (Details) - USD ($) $ / shares in Units, $ in Thousands	Sep. 29, 2017	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	May 07, 2021	Feb. 24, 2021
Class of Stock [Line Items]
Shares issued under dividend reinvestment plan (in shares)		19,758	24,491	15,909
Preferred shares, percentage		5.00%	5.00%	5.00%
Preferred shares, par value		$ 0.01	$ 0.01
Net cash proceeds of common stock		$ 172,981	$ 99,177	$ 143,027
At The Market Equity Program
Class of Stock [Line Items]
Shares issued		847,471	1,080,804
Aggregate offering price of common shares					$ 500,000	$ 500,000
Net cash proceeds of common stock		$ 87,000	$ 98,800
Weighted average price per common share		$ 104.19	$ 92.51
Remaining capacity to issue		$ 175,000
At The Market Equity Program | Commissions
Class of Stock [Line Items]
Commissions related to sales of common shares		900	$ 1,000
At The Market Equity Program | Other Offering Costs
Class of Stock [Line Items]
Commissions related to sales of common shares		$ 400	$ 100
Forward Sales Contracts
Class of Stock [Line Items]
Shares issued		796,300
Net cash proceeds of common stock		$ 85,700
Weighted average price per common share		$ 120.22
Forward Contract Indexed to Issuer's Equity, Shares		2,999,955
5.0% Series C Cumulative Redeemable Preferred Shares
Class of Stock [Line Items]
Preferred shares, percentage	5.00%	5.00%	5.00%	5.00%
Preferred shares, par value	$ 0.01	$ 0.01	$ 0.01	$ 0.01
Preferred shares, liquidation preference per share	25,000	$ 25,000	$ 25,000	$ 25,000
Preferred shares, shares outstanding		6,000	6,000
5.417% Series 1 Cumulative Convertible Preferred Shares
Class of Stock [Line Items]
Preferred shares, percentage		5.417%	5.417%	5.417%
Preferred shares, par value		$ 0.01	$ 0.01	$ 0.01
Preferred shares, liquidation preference per share		$ 25	$ 25	$ 25
Preferred shares, shares outstanding		399,896	399,896	399,896
Conversion price per share		$ 104.69
Depositary Shares | 5.0% Series C Cumulative Redeemable Preferred Shares
Class of Stock [Line Items]
Preferred shares, liquidation preference per share	$ 25	$ 25	$ 25	$ 25
Preferred Shares | Depositary Shares | 5.0% Series C Cumulative Redeemable Preferred Shares
Class of Stock [Line Items]
Shares issued	6,000,000
Preferred shares, shares outstanding		6,000,000	6,000,000	6,000,000

Dividends (Details)

Dividends (Details) - $ / shares	Nov. 04, 2021	Sep. 29, 2017	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Class of Stock [Line Items]
Preferred shares, percentage			5.00%	5.00%	5.00%
Dividends declared to common shareholders	$ 1.07		$ 4.26	$ 4.22	$ 4.14
Common shares, paid			4.250	4.210	4.110
Payments of ordinary dividends, common stock			3.358	3.452	4.110
Common shares, capital gain			0.680	0	0
Return of capital, common shares			$ 0.212	$ 0.758	$ 0
5.417% Series 1 Cumulative Convertible Preferred Shares
Class of Stock [Line Items]
Preferred shares, percentage			5.417%	5.417%	5.417%
Preferred shares, declared			$ 1.354	$ 1.354	$ 1.354
Preferred shares, paid			1.354	1.354	1.354
Payment of ordinary dividends, preferred stock			1.124	1.354	1.354
Preferred shares, capital gain			$ 0.230	$ 0	$ 0
5.0% Series C Cumulative Redeemable Preferred Shares
Class of Stock [Line Items]
Preferred shares, percentage		5.00%	5.00%	5.00%	5.00%
Preferred shares, declared			$ 1.250	$ 1.250	$ 1.250
Preferred shares, paid			1.250	1.250	1.250
Payment of ordinary dividends, preferred stock			1.038	1.250	1.250
Preferred shares, capital gain			$ 0.212	$ 0	$ 0

Operating Leases (Details)

Operating Leases (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)projectleasestate
Property Subject to or Available for Operating Lease [Line Items]
Number of real estate properties | project	104
Number of states in which entity has properties | state	12
Percent of annualized base rent	2.70%
Operating Leases, Future Minimum Payments
2022	$ 634,134
2023	596,004
2024	531,652
2025	447,549
2026	376,692
Thereafter	1,675,278
Total	$ 4,261,309
Retail and commercial
Property Subject to or Available for Operating Lease [Line Items]
Number of leases | lease	3,100
Retail and commercial | Minimum
Property Subject to or Available for Operating Lease [Line Items]
Operating lease, term	3 years
Retail and commercial | Maximum
Property Subject to or Available for Operating Lease [Line Items]
Operating lease, term	10 years
Residential
Property Subject to or Available for Operating Lease [Line Items]
Number of leases	3,000
Residential | Maximum
Property Subject to or Available for Operating Lease [Line Items]
Operating lease, term	1 year

Lease Costs (Detail)

Lease Costs (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Finance Lease, amortization of right-of-use assets	$ 1,284	$ 1,284	$ 1,284
Finance Lease, interest on lease liabilities	5,828	5,826	5,824
Operating lease cost	5,687	5,946	6,063
Variable lease cost	246	353	487
Total Lease Cost	13,045	13,409	13,658
Operating cash flows for finance leases	5,723	5,736	5,759
Operating cash flows for operating leases	5,288	5,498	5,561
Financing cash flows for finance leases	$ 51	$ 46	$ 47
Weighted-average remaining lease term - finance leases	16 years 3 months 18 days	17 years 3 months 18 days
Weighted-average remaining lease term - operating leases	52 years 9 months 18 days	53 years 4 months 24 days
Weighted-average discount rate - finance leases	8.00%	8.00%
Weighted-average discount rate - operating leases	4.50%	4.40%
ROU assets obtained in exchange for operating lease liabilities	$ 10,341	$ 855

Components of Rental Expense (C

Components of Rental Expense (Components Of Rental Expenses) (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Repairs and maintenance		$ 78,028	$ 66,845	$ 73,179
Utilities		27,808	25,065	27,729
Management fees and costs		24,919	23,752	24,930
Payroll		18,341	16,691	16,485
Insurance		14,406	12,439	9,036
Marketing		7,481	6,432	7,427
Ground rent		4,571	4,595	4,803
Other operating	[1]	22,567	15,101	24,242
Total rental expenses		$ 198,121	$ 170,920	187,831
Assembly Square Marketplace
Charge related to the buyout of a lease				$ 11,900
[1]	Other operating for the year ended December 31, 2019 includes an $11.9 million charge relating to the buyout of a lease at Assembly Square Marketplace

Share-Based Compensation Plan_2

Share-Based Compensation Plans (Allocated Share-Based Compensation) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Abstract]
Grants of common shares and options	$ 14,434	$ 13,243	$ 13,330
Capitalized share-based compensation	(1,425)	(1,319)	(1,054)
Share-based compensation expense	$ 13,009	$ 11,924	$ 12,276

Share-Based Compensation Plan_3

Share-Based Compensation Plans (Weighted Average Assumptions Used to Value Option Granted) (Details)	12 Months Ended
	Dec. 31, 2021
Share-based Payment Arrangement [Abstract]
Volatility	29.30%
Expected dividend yield	4.10%
Expected term (in years)	7 years 6 months
Risk free interest rate	0.90%

Share-Based Compensation Plan_4

Share-Based Compensation Plans (Schedule of Option Activity) (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Outstanding at the beginning of year (in shares)	682
Granted (in shares)	3,658	0	0
Exercised (in shares)	0
Forfeited or expired (in shares)	(682)
Outstanding at the end of year (in shares)	3,658	682
Exercisable at the end of year (in shares)	0
Outstanding at the beginning of year, Weighted-Average Exercise Price (in dollars per share)	$ 152.34
Granted, Weighted-Average Exercise Price (in dollars per share)	95.77
Exercised, Weighted-Average Exercise Price (in dollars per share)	0
Forfeited or Expired, Weighted-Average Exercise Price (in dollars per share)	152.34
Outstanding at the end of year, Weighted-Average Exercise Price (in dollars per share)	95.77	$ 152.34
Exercisable at the end of the year, Weighted-Average Exercise Price (in dollars per share)	$ 0
Outstanding at the end of year, Weighted-Average Remaining Contractual Term (in years)	9 years 1 month 6 days
Outstanding at the end of year, Aggregate Intrinsic Value	$ 148
Exercisable at the end of year, Aggregate Intrinsic Value	$ 0

Share-Based Compensation Plan_5

Share-Based Compensation Plans (Restricted Share Activity) (Details) - Restricted Stock - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Unvested at the beginning of year (in shares)	233,178
Granted (in shares)	166,746
Vested (in shares)	(108,735)
Forfeited (in shares)	(2,193)
Unvested at the end of year (in shares)	288,996	233,178
Unvested at the beginning of year, Weighted-Average Grant-Date Fair Value (in dollars per share)	$ 127.32
Granted, Weighted-Average Grant-Date Fair Value (in dollars per share)	97.46	$ 124.55	$ 133.30
Vested, Weighted-Average Grant-Date Fair Value (in dollars per share)	121.77
Forfeited, Weighted-Average Grant-Date Fair Value (in dollars per share)	112.05
Unvested at the end of year, Weighted-Average Grant-Date Fair Value (in dollars per share)	$ 112.29	$ 127.32

Share-Based Compensation Plan_6

Share-Based Compensation Plans (Restricted Stock Units Activity) (Details) - Restricted stock units - Officer - $ / shares	Feb. 10, 2021	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Unvested at the beginning of year (in shares)		0
Granted (in shares)	10,441	10,441
Vested (in shares)		0
Forfeited (in shares)		0
Unvested at the end of year (in shares)		10,441
Unvested at the beginning of year, Weighted-Average Grant-Date Fair Value (in dollars per share)		$ 0
Granted, Weighted-Average Grant-Date Fair Value (in dollars per share)		97.01
Vested, Weighted-Average Grant-Date Fair Value (in dollars per share)		0
Forfeited, Weighted-Average Grant-Date Fair Value (in dollars per share)		0
Unvested at the end of year, Weighted-Average Grant-Date Fair Value (in dollars per share)		$ 97.01

Share-Based Compensation Plan_7

Share-Based Compensation Plans (Common Shares Awarded Under Various Compensation Plans) (Details) - shares	Feb. 09, 2022	Jan. 03, 2022	Dec. 31, 2021
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)			166,746
Grants of common shares and options | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting Term			3 years
Grants of common shares and options | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting Term			7 years
Subsequent Event | Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	103,463	5,135
Subsequent Event | Restricted Stock | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting Term	3 years
Subsequent Event | Restricted Stock | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting Term	5 years

Share-Based Compensation Plan_8

Share-Based Compensation Plans (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions	Feb. 10, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options granted in period		3,658	0	0
Weighted average grant date fair value of options granted		$ 16.40
Total unrecognized compensation cost related to unvested share-based compensation arrangements		$ 20
Period for recognition (in years)		4 years 7 months 6 days
Weighted-average period for recognition		2 years 3 months 18 days
Performance Incentive Plan 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized		1,750,000
Performance Incentive Plan 2010
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized		2,450,000
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average grant-date fair value of stock awarded		$ 97.46	$ 124.55	$ 133.30
Total vesting-date fair value of shares vested during the year		$ 11	$ 12.4	$ 13
Granted (in shares)		166,746
Grants of common shares and options | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting Term		3 years
Grants of common shares and options | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting Term		7 years
Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Contractual term (in years)		10 years
Restricted stock units | Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting Term	4 years
Weighted-average grant-date fair value of stock awarded		$ 97.01
Granted (in shares)	10,441	10,441
Restricted stock units | Minimum | Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Final award earned percentage of original award	0.00%
Restricted stock units | Maximum | Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Final award earned percentage of original award	200.00%

Savings and Retirement Plans (D

Savings and Retirement Plans (Details) - 401(K) and Deferred Compensation Plan - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items]
401(k) Maximum annual contribution per employee	$ 19,500	$ 19,500	$ 19,000
401(k) Employer match	50.00%	50.00%	50.00%
401(k) Employer contribution expense	$ 816,000	$ 813,000	$ 764,000
Deferred compensation liability to participants	$ 21,000,000	$ 18,000,000
Maximum
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items]
401(k) Maximum of employer match as a percentage of employee eligible earnings	5.00%	5.00%	5.00%

Earnings Per Share (Narrative)

Earnings Per Share (Narrative) (Details) - shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Weighted average unvested shares outstanding	300,000	200,000	200,000
Preferred shares, percentage	5.00%	5.00%	5.00%
Stock options
Anti-dilutive issuable shares		682	682
Forward Sales Contracts
Anti-dilutive issuable shares	1,800,000
Performance Based Unvested Shares
Anti-dilutive issuable shares	10,441
5.417% Series 1 Cumulative Convertible Preferred Shares
Preferred shares, percentage	5.417%	5.417%	5.417%

Earnings Per Share (Schedule Of

Earnings Per Share (Schedule Of Earnings Per Share) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Earnings Per Share [Abstract]
Net income	$ 269,081	$ 135,888	$ 360,542
Less: Preferred share dividends	(8,042)	(8,042)	(8,042)
Less: Income from operations attributable to noncontrolling interests	(7,583)	(4,182)	(6,676)
Less: Earnings allocated to unvested shares	(1,211)	(992)	(1,007)
Net income available for common shareholders, basic and diluted	$ 252,245	$ 122,672	$ 344,817
Weighted average common shares outstanding—basic	77,336	75,515	74,766
Open forward contracts for share issuances	32	0	0
Weighted average common shares outstanding—diluted	77,368	75,515	74,766
EARNINGS PER COMMON SHARE, BASIC
Net income available for common shareholders	$ 3.26	$ 1.62	$ 4.61
EARNINGS PER COMMON SHARE, DILUTED
Net income available for common shareholders	$ 3.26	$ 1.62	$ 4.61

Schedule III - Summary of Rea_2

Schedule III - Summary of Real Estate and Accumulated Depreciation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021		Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 339,993
Initial cost to company, Land	1,585,097
Initial cost to company, Buildings and Improvements	2,725,032
Cost Capitalized Subsequent to Acquisition	5,111,933
Gross amount at which carried at close of period, Land	1,578,280
Gross amount at which carried at close of period, Buildings and Improvements	7,843,782
Gross amount at which carried at close of period, Total	9,422,062	[1]	$ 8,582,870	$ 8,298,132	$ 7,819,472
Accumulated Depreciation and Amortization	$ 2,531,095		$ 2,357,692	$ 2,215,413	$ 2,059,143
Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on  which depreciation in latest income statements is computed	50 years
29th Place
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost to company, Land	10,211
Initial cost to company, Buildings and Improvements	18,863
Cost Capitalized Subsequent to Acquisition	11,035
Gross amount at which carried at close of period, Land	10,195
Gross amount at which carried at close of period, Buildings and Improvements	29,914
Gross amount at which carried at close of period, Total	40,109
Accumulated Depreciation and Amortization	15,312
Andorra
Real Estate and Accumulated Depreciation [Line Items]
Initial cost to company, Land	2,432
Initial cost to company, Buildings and Improvements	12,346
Cost Capitalized Subsequent to Acquisition	18,458
Gross amount at which carried at close of period, Land	2,432
Gross amount at which carried at close of period, Buildings and Improvements	30,804
Gross amount at which carried at close of period, Total	33,236
Accumulated Depreciation and Amortization	22,053
Assembly Row/Assembly Square Market Place
Real Estate and Accumulated Depreciation [Line Items]
Initial cost to company, Land	93,252
Initial cost to company, Buildings and Improvements	34,196
Cost Capitalized Subsequent to Acquisition	951,169
Gross amount at which carried at close of period, Land	69,421
Gross amount at which carried at close of period, Buildings and Improvements	1,009,196
Gross amount at which carried at close of period, Total	1,078,617
Accumulated Depreciation and Amortization	107,931
Azalea
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	39,800
Initial cost to company, Land	40,219
Initial cost to company, Buildings and Improvements	67,117
Cost Capitalized Subsequent to Acquisition	628
Gross amount at which carried at close of period, Land	40,219
Gross amount at which carried at close of period, Buildings and Improvements	67,745
Gross amount at which carried at close of period, Total	107,964
Accumulated Depreciation and Amortization	11,036
Bala Cynwyd
Real Estate and Accumulated Depreciation [Line Items]
Initial cost to company, Land	3,565
Initial cost to company, Buildings and Improvements	14,466
Cost Capitalized Subsequent to Acquisition	48,471
Gross amount at which carried at close of period, Land	2,683
Gross amount at which carried at close of period, Buildings and Improvements	63,819
Gross amount at which carried at close of period, Total	66,502
Accumulated Depreciation and Amortization	29,407
Barcroft Plaza
Real Estate and Accumulated Depreciation [Line Items]
Initial cost to company, Land	12,617
Initial cost to company, Buildings and Improvements	29,603
Cost Capitalized Subsequent to Acquisition	7,968
Gross amount at which carried at close of period, Land	12,617
Gross amount at which carried at close of period, Buildings and Improvements	37,571
Gross amount at which carried at close of period, Total	50,188
Accumulated Depreciation and Amortization	7,320
Barracks Road
Real Estate and Accumulated Depreciation [Line Items]
Initial cost to company, Land	4,363
Initial cost to company, Buildings and Improvements	16,459
Cost Capitalized Subsequent to Acquisition	49,352
Gross amount at which carried at close of period, Land	4,363
Gross amount at which carried at close of period, Buildings and Improvements	65,811
Gross amount at which carried at close of period, Total	70,174
Accumulated Depreciation and Amortization	50,852
Bell Gardens
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	11,861
Initial cost to company, Land	24,406
Initial cost to company, Buildings and Improvements	85,947
Cost Capitalized Subsequent to Acquisition	1,929
Gross amount at which carried at close of period, Land	24,406
Gross amount at which carried at close of period, Buildings and Improvements	87,876
Gross amount at which carried at close of period, Total	112,282
Accumulated Depreciation and Amortization	18,619
Bethesda Row
Real Estate and Accumulated Depreciation [Line Items]
Initial cost to company, Land	46,579
Initial cost to company, Buildings and Improvements	35,406
Cost Capitalized Subsequent to Acquisition	168,421
Gross amount at which carried at close of period, Land	43,904
Gross amount at which carried at close of period, Buildings and Improvements	206,502
Gross amount at which carried at close of period, Total	250,406
Accumulated Depreciation and Amortization	99,202
Birch & Broad (formerly known as Falls Plaza)
Real Estate and Accumulated Depreciation [Line Items]
Initial cost to company, Land	1,798
Initial cost to company, Buildings and Improvements	1,270
Cost Capitalized Subsequent to Acquisition	20,876
Gross amount at which carried at close of period, Land	1,819
Gross amount at which carried at close of period, Buildings and Improvements	22,125
Gross amount at which carried at close of period, Total	23,944
Accumulated Depreciation and Amortization	9,741
Brick Plaza
Real Estate and Accumulated Depreciation [Line Items]
Initial cost to company, Land	0
Initial cost to company, Buildings and Improvements	24,715
Cost Capitalized Subsequent to Acquisition	79,632
Gross amount at which carried at close of period, Land	4,094
Gross amount at which carried at close of period, Buildings and Improvements	100,253
Gross amount at which carried at close of period, Total	104,347
Accumulated Depreciation and Amortization	60,075
Bristol Plaza
Real Estate and Accumulated Depreciation [Line Items]
Initial cost to company, Land	3,856
Initial cost to company, Buildings and Improvements	15,959
Cost Capitalized Subsequent to Acquisition	15,398
Gross amount at which carried at close of period, Land	3,856
Gross amount at which carried at close of period, Buildings and Improvements	31,357
Gross amount at which carried at close of period, Total	35,213
Accumulated Depreciation and Amortization	20,652
Brook 35
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	11,345
Initial cost to company, Land	7,128
Initial cost to company, Buildings and Improvements	38,355
Cost Capitalized Subsequent to Acquisition	4,722
Gross amount at which carried at close of period, Land	7,128
Gross amount at which carried at close of period, Buildings and Improvements	43,077
Gross amount at which carried at close of period, Total	50,205
Accumulated Depreciation and Amortization	11,296
Camelback Colonnade
Real Estate and Accumulated Depreciation [Line Items]
Initial cost to company, Land	52,658
Initial cost to company, Buildings and Improvements	126,646
Cost Capitalized Subsequent to Acquisition	49
Gross amount at which carried at close of period, Land	52,658
Gross amount at which carried at close of period, Buildings and Improvements	126,695
Gross amount at which carried at close of period, Total	179,353
Accumulated Depreciation and Amortization	2,655
Campus Plaza
Real Estate and Accumulated Depreciation [Line Items]
Initial cost to company, Land	16,710
Initial cost to company, Buildings and Improvements	13,412
Cost Capitalized Subsequent to Acquisition	433
Gross amount at which carried at close of period, Land	16,710
Gross amount at which carried at close of period, Buildings and Improvements	13,845
Gross amount at which carried at close of period, Total	30,555
Accumulated Depreciation and Amortization	3,381
Chelsea Commons
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	4,692
Initial cost to company, Land	8,689
Initial cost to company, Buildings and Improvements	19,466
Cost Capitalized Subsequent to Acquisition	2,439
Gross amount at which carried at close of period, Land	8,669
Gross amount at which carried at close of period, Buildings and Improvements	21,925
Gross amount at which carried at close of period, Total	30,594
Accumulated Depreciation and Amortization	9,596
Chesterbrook
Real Estate and Accumulated Depreciation [Line Items]
Initial cost to company, Land	13,042
Initial cost to company, Buildings and Improvements	24,725
Cost Capitalized Subsequent to Acquisition	509
Gross amount at which carried at close of period, Land	13,042
Gross amount at which carried at close of period, Buildings and Improvements	25,234
Gross amount at which carried at close of period, Total	38,276
Accumulated Depreciation and Amortization	594
CocoWalk
Real Estate and Accumulated Depreciation [Line Items]
Initial cost to company, Land	32,513
Initial cost to company, Buildings and Improvements	71,536
Cost Capitalized Subsequent to Acquisition	87,188
Gross amount at which carried at close of period, Land	48,944
Gross amount at which carried at close of period, Buildings and Improvements	142,293
Gross amount at which carried at close of period, Total	191,237
Accumulated Depreciation and Amortization	16,485
Colorado Blvd
Real Estate and Accumulated Depreciation [Line Items]
Initial cost to company, Land	2,415
Initial cost to company, Buildings and Improvements	3,964
Cost Capitalized Subsequent to Acquisition	7,109
Gross amount at which carried at close of period, Land	2,415
Gross amount at which carried at close of period, Buildings and Improvements	11,073
Gross amount at which carried at close of period, Total	13,488
Accumulated Depreciation and Amortization	9,715
Congressional Plaza
Real Estate and Accumulated Depreciation [Line Items]
Initial cost to company, Land	2,793
Initial cost to company, Buildings and Improvements	7,424
Cost Capitalized Subsequent to Acquisition	97,556
Gross amount at which carried at close of period, Land	2,793
Gross amount at which carried at close of period, Buildings and Improvements	104,980
Gross amount at which carried at close of period, Total	107,773
Accumulated Depreciation and Amortization	63,539
Courthouse Center
Real Estate and Accumulated Depreciation [Line Items]
Initial cost to company, Land	1,750
Initial cost to company, Buildings and Improvements	1,869
Cost Capitalized Subsequent to Acquisition	3,497
Gross amount at which carried at close of period, Land	1,750
Gross amount at which carried at close of period, Buildings and Improvements	5,366
Gross amount at which carried at close of period, Total	7,116
Accumulated Depreciation and Amortization	3,141
Crossroads
Real Estate and Accumulated Depreciation [Line Items]
Initial cost to company, Land	4,635
Initial cost to company, Buildings and Improvements	11,611
Cost Capitalized Subsequent to Acquisition	19,769
Gross amount at which carried at close of period, Land	4,635
Gross amount at which carried at close of period, Buildings and Improvements	31,380
Gross amount at which carried at close of period, Total	36,015
Accumulated Depreciation and Amortization	21,669
Crow Canyon Commons
Real Estate and Accumulated Depreciation [Line Items]
Initial cost to company, Land	27,245
Initial cost to company, Buildings and Improvements	54,575
Cost Capitalized Subsequent to Acquisition	8,854
Gross amount at which carried at close of period, Land	27,245
Gross amount at which carried at close of period, Buildings and Improvements	63,429
Gross amount at which carried at close of period, Total	90,674
Accumulated Depreciation and Amortization	30,337
Darien Commons
Real Estate and Accumulated Depreciation [Line Items]
Initial cost to company, Land	30,368
Initial cost to company, Buildings and Improvements	19,523
Cost Capitalized Subsequent to Acquisition	48,601
Gross amount at which carried at close of period, Land	30,368
Gross amount at which carried at close of period, Buildings and Improvements	68,124
Gross amount at which carried at close of period, Total	98,492
Accumulated Depreciation and Amortization	3,561
Dedham Plaza
Real Estate and Accumulated Depreciation [Line Items]
Initial cost to company, Land	16,658
Initial cost to company, Buildings and Improvements	13,964
Cost Capitalized Subsequent to Acquisition	17,152
Gross amount at which carried at close of period, Land	16,658
Gross amount at which carried at close of period, Buildings and Improvements	31,116
Gross amount at which carried at close of period, Total	47,774
Accumulated Depreciation and Amortization	19,358
Del Mar Village
Real Estate and Accumulated Depreciation [Line Items]
Initial cost to company, Land	15,624
Initial cost to company, Buildings and Improvements	41,712
Cost Capitalized Subsequent to Acquisition	16,886
Gross amount at which carried at close of period, Land	15,587
Gross amount at which carried at close of period, Buildings and Improvements	58,635
Gross amount at which carried at close of period, Total	74,222
Accumulated Depreciation and Amortization	28,150
East Bay Bridge
Real Estate and Accumulated Depreciation [Line Items]
Initial cost to company, Land	29,069
Initial cost to company, Buildings and Improvements	138,035
Cost Capitalized Subsequent to Acquisition	12,354
Gross amount at which carried at close of period, Land	29,069
Gross amount at which carried at close of period, Buildings and Improvements	150,389
Gross amount at which carried at close of period, Total	179,458
Accumulated Depreciation and Amortization	46,612
Elllisburg
Real Estate and Accumulated Depreciation [Line Items]
Initial cost to company, Land	4,028
Initial cost to company, Buildings and Improvements	11,309
Cost Capitalized Subsequent to Acquisition	20,737
Gross amount at which carried at close of period, Land	4,013
Gross amount at which carried at close of period, Buildings and Improvements	32,061
Gross amount at which carried at close of period, Total	36,074
Accumulated Depreciation and Amortization	22,684
Escondido Promenade
Real Estate and Accumulated Depreciation [Line Items]
Initial cost to company, Land	19,117
Initial cost to company, Buildings and Improvements	15,829
Cost Capitalized Subsequent to Acquisition	19,823
Gross amount at which carried at close of period, Land	19,117
Gross amount at which carried at close of period, Buildings and Improvements	35,652
Gross amount at which carried at close of period, Total	54,769
Accumulated Depreciation and Amortization	22,092
Fairfax Junction
Real Estate and Accumulated Depreciation [Line Items]
Initial cost to company, Land	16,768
Initial cost to company, Buildings and Improvements	23,825
Cost Capitalized Subsequent to Acquisition	1,216
Gross amount at which carried at close of period, Land	16,768
Gross amount at which carried at close of period, Buildings and Improvements	25,041
Gross amount at which carried at close of period, Total	41,809
Accumulated Depreciation and Amortization	2,724
Federal Plaza
Real Estate and Accumulated Depreciation [Line Items]
Initial cost to company, Land	10,216
Initial cost to company, Buildings and Improvements	17,895
Cost Capitalized Subsequent to Acquisition	43,788
Gross amount at which carried at close of period, Land	10,216
Gross amount at which carried at close of period, Buildings and Improvements	61,683
Gross amount at which carried at close of period, Total	71,899
Accumulated Depreciation and Amortization	50,473
Finley Square
Real Estate and Accumulated Depreciation [Line Items]
Initial cost to company, Land	9,252
Initial cost to company, Buildings and Improvements	9,544
Cost Capitalized Subsequent to Acquisition	22,953
Gross amount at which carried at close of period, Land	9,252
Gross amount at which carried at close of period, Buildings and Improvements	32,497
Gross amount at which carried at close of period, Total	41,749
Accumulated Depreciation and Amortization	24,386
Flourtown
Real Estate and Accumulated Depreciation [Line Items]
Initial cost to company, Land	1,345
Initial cost to company, Buildings and Improvements	3,943
Cost Capitalized Subsequent to Acquisition	11,910
Gross amount at which carried at close of period, Land	1,507
Gross amount at which carried at close of period, Buildings and Improvements	15,691
Gross amount at which carried at close of period, Total	17,198
Accumulated Depreciation and Amortization	7,851
Fourth Street
Real Estate and Accumulated Depreciation [Line Items]
Initial cost to company, Land	13,978
Initial cost to company, Buildings and Improvements	9,909
Cost Capitalized Subsequent to Acquisition	3,345
Gross amount at which carried at close of period, Land	13,978
Gross amount at which carried at close of period, Buildings and Improvements	13,254
Gross amount at which carried at close of period, Total	27,232
Accumulated Depreciation and Amortization	2,627
Freedom Plaza
Real Estate and Accumulated Depreciation [Line Items]
Initial cost to company, Land	0
Initial cost to company, Buildings and Improvements	3,255
Cost Capitalized Subsequent to Acquisition	40,620
Gross amount at which carried at close of period, Land	0
Gross amount at which carried at close of period, Buildings and Improvements	43,875
Gross amount at which carried at close of period, Total	43,875
Accumulated Depreciation and Amortization	1,820
Fresh Meadows
Real Estate and Accumulated Depreciation [Line Items]
Initial cost to company, Land	24,625
Initial cost to company, Buildings and Improvements	25,255
Cost Capitalized Subsequent to Acquisition	44,201
Gross amount at which carried at close of period, Land	24,633
Gross amount at which carried at close of period, Buildings and Improvements	69,448
Gross amount at which carried at close of period, Total	94,081
Accumulated Depreciation and Amortization	48,793
Friendship Center
Real Estate and Accumulated Depreciation [Line Items]
Initial cost to company, Land	12,696
Initial cost to company, Buildings and Improvements	20,803
Cost Capitalized Subsequent to Acquisition	2,966
Gross amount at which carried at close of period, Land	12,696
Gross amount at which carried at close of period, Buildings and Improvements	23,769
Gross amount at which carried at close of period, Total	36,465
Accumulated Depreciation and Amortization	14,158
Gaithersburg Square
Real Estate and Accumulated Depreciation [Line Items]
Initial cost to company, Land	7,701
Initial cost to company, Buildings and Improvements	5,271
Cost Capitalized Subsequent to Acquisition	23,999
Gross amount at which carried at close of period, Land	5,973
Gross amount at which carried at close of period, Buildings and Improvements	30,998
Gross amount at which carried at close of period, Total	36,971
Accumulated Depreciation and Amortization	19,397
Garden Market
Real Estate and Accumulated Depreciation [Line Items]
Initial cost to company, Land	2,677
Initial cost to company, Buildings and Improvements	4,829
Cost Capitalized Subsequent to Acquisition	7,305
Gross amount at which carried at close of period, Land	2,677
Gross amount at which carried at close of period, Buildings and Improvements	12,134
Gross amount at which carried at close of period, Total	14,811
Accumulated Depreciation and Amortization	9,636
Georgetowne Shopping Center
Real Estate and Accumulated Depreciation [Line Items]
Initial cost to company, Land	32,202
Initial cost to company, Buildings and Improvements	49,586
Cost Capitalized Subsequent to Acquisition	2,728
Gross amount at which carried at close of period, Land	32,202
Gross amount at which carried at close of period, Buildings and Improvements	52,314
Gross amount at which carried at close of period, Total	84,516
Accumulated Depreciation and Amortization	3,841
Governor Plaza
Real Estate and Accumulated Depreciation [Line Items]
Initial cost to company, Land	2,068
Initial cost to company, Buildings and Improvements	4,905
Cost Capitalized Subsequent to Acquisition	19,619
Gross amount at which carried at close of period, Land	2,068
Gross amount at which carried at close of period, Buildings and Improvements	24,524
Gross amount at which carried at close of period, Total	26,592
Accumulated Depreciation and Amortization	21,877
Graham Park Plaza
Real Estate and Accumulated Depreciation [Line Items]
Initial cost to company, Land	642
Initial cost to company, Buildings and Improvements	7,629
Cost Capitalized Subsequent to Acquisition	15,155
Gross amount at which carried at close of period, Land	653
Gross amount at which carried at close of period, Buildings and Improvements	22,773
Gross amount at which carried at close of period, Total	23,426
Accumulated Depreciation and Amortization	18,267
Gratiot Plaza
Real Estate and Accumulated Depreciation [Line Items]
Initial cost to company, Land	525
Initial cost to company, Buildings and Improvements	1,601
Cost Capitalized Subsequent to Acquisition	18,168
Gross amount at which carried at close of period, Land	525
Gross amount at which carried at close of period, Buildings and Improvements	19,769
Gross amount at which carried at close of period, Total	20,294
Accumulated Depreciation and Amortization	18,232
Greenlawn Plaza
Real Estate and Accumulated Depreciation [Line Items]
Initial cost to company, Land	10,590
Initial cost to company, Buildings and Improvements	20,869
Cost Capitalized Subsequent to Acquisition	1,278
Gross amount at which carried at close of period, Land	10,730
Gross amount at which carried at close of period, Buildings and Improvements	22,007
Gross amount at which carried at close of period, Total	32,737
Accumulated Depreciation and Amortization	5,089
Greenwich Avenue
Real Estate and Accumulated Depreciation [Line Items]
Initial cost to company, Land	7,484
Initial cost to company, Buildings and Improvements	5,445
Cost Capitalized Subsequent to Acquisition	10,819
Gross amount at which carried at close of period, Land	7,484
Gross amount at which carried at close of period, Buildings and Improvements	16,264
Gross amount at which carried at close of period, Total	23,748
Accumulated Depreciation and Amortization	6,120
Grossmont Center
Real Estate and Accumulated Depreciation [Line Items]
Initial cost to company, Land	125,434
Initial cost to company, Buildings and Improvements	50,311
Cost Capitalized Subsequent to Acquisition	173
Gross amount at which carried at close of period, Land	125,434
Gross amount at which carried at close of period, Buildings and Improvements	50,484
Gross amount at which carried at close of period, Total	175,918
Accumulated Depreciation and Amortization	2,093
Hastings Ranch Plaza
Real Estate and Accumulated Depreciation [Line Items]
Initial cost to company, Land	2,257
Initial cost to company, Buildings and Improvements	22,393
Cost Capitalized Subsequent to Acquisition	1,055
Gross amount at which carried at close of period, Land	2,257
Gross amount at which carried at close of period, Buildings and Improvements	23,448
Gross amount at which carried at close of period, Total	25,705
Accumulated Depreciation and Amortization	3,812
Hauppauge
Real Estate and Accumulated Depreciation [Line Items]
Initial cost to company, Land	8,791
Initial cost to company, Buildings and Improvements	15,262
Cost Capitalized Subsequent to Acquisition	9,789
Gross amount at which carried at close of period, Land	8,420
Gross amount at which carried at close of period, Buildings and Improvements	25,422
Gross amount at which carried at close of period, Total	33,842
Accumulated Depreciation and Amortization	14,452
Hilton Village
Real Estate and Accumulated Depreciation [Line Items]
Initial cost to company, Land	0
Initial cost to company, Buildings and Improvements	40,079
Cost Capitalized Subsequent to Acquisition	28
Gross amount at which carried at close of period, Land	0
Gross amount at which carried at close of period, Buildings and Improvements	40,107
Gross amount at which carried at close of period, Total	40,107
Accumulated Depreciation and Amortization	772
Hoboken
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	104,704
Initial cost to company, Land	47,460
Initial cost to company, Buildings and Improvements	167,835
Cost Capitalized Subsequent to Acquisition	1,075
Gross amount at which carried at close of period, Land	47,462
Gross amount at which carried at close of period, Buildings and Improvements	168,908
Gross amount at which carried at close of period, Total	216,370
Accumulated Depreciation and Amortization	11,389
Hollywood Blvd.
Real Estate and Accumulated Depreciation [Line Items]
Initial cost to company, Land	8,300
Initial cost to company, Buildings and Improvements	16,920
Cost Capitalized Subsequent to Acquisition	36,635
Gross amount at which carried at close of period, Land	8,370
Gross amount at which carried at close of period, Buildings and Improvements	53,485
Gross amount at which carried at close of period, Total	61,855
Accumulated Depreciation and Amortization	20,813
Huntington
Real Estate and Accumulated Depreciation [Line Items]
Initial cost to company, Land	12,194
Initial cost to company, Buildings and Improvements	16,008
Cost Capitalized Subsequent to Acquisition	23,585
Gross amount at which carried at close of period, Land	12,294
Gross amount at which carried at close of period, Buildings and Improvements	39,493
Gross amount at which carried at close of period, Total	51,787
Accumulated Depreciation and Amortization	17,564
Huntington Square
Real Estate and Accumulated Depreciation [Line Items]
Initial cost to company, Land	0
Initial cost to company, Buildings and Improvements	10,075
Cost Capitalized Subsequent to Acquisition	3,621
Gross amount at which carried at close of period, Land	506
Gross amount at which carried at close of period, Buildings and Improvements	13,190
Gross amount at which carried at close of period, Total	13,696
Accumulated Depreciation and Amortization	5,281
Idylwood Plaza
Real Estate and Accumulated Depreciation [Line Items]
Initial cost to company, Land	4,308
Initial cost to company, Buildings and Improvements	10,026
Cost Capitalized Subsequent to Acquisition	3,212
Gross amount at which carried at close of period, Land	4,308
Gross amount at which carried at close of period, Buildings and Improvements	13,238
Gross amount at which carried at close of period, Total	17,546
Accumulated Depreciation and Amortization	10,526
Kings Court
Real Estate and Accumulated Depreciation [Line Items]
Initial cost to company, Land	0
Initial cost to company, Buildings and Improvements	10,714
Cost Capitalized Subsequent to Acquisition	896
Gross amount at which carried at close of period, Land	0
Gross amount at which carried at close of period, Buildings and Improvements	11,610
Gross amount at which carried at close of period, Total	11,610
Accumulated Depreciation and Amortization	10,410
Lancaster
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost to company, Land	0
Initial cost to company, Buildings and Improvements	2,103
Cost Capitalized Subsequent to Acquisition	6,291
Gross amount at which carried at close of period, Land	432
Gross amount at which carried at close of period, Buildings and Improvements	7,962
Gross amount at which carried at close of period, Total	8,394
Accumulated Depreciation and Amortization	6,230
Langhorne Square
Real Estate and Accumulated Depreciation [Line Items]
Initial cost to company, Land	720
Initial cost to company, Buildings and Improvements	2,974
Cost Capitalized Subsequent to Acquisition	20,100
Gross amount at which carried at close of period, Land	720
Gross amount at which carried at close of period, Buildings and Improvements	23,074
Gross amount at which carried at close of period, Total	23,794
Accumulated Depreciation and Amortization	17,855
Laurel
Real Estate and Accumulated Depreciation [Line Items]
Initial cost to company, Land	7,458
Initial cost to company, Buildings and Improvements	22,525
Cost Capitalized Subsequent to Acquisition	30,379
Gross amount at which carried at close of period, Land	7,503
Gross amount at which carried at close of period, Buildings and Improvements	52,859
Gross amount at which carried at close of period, Total	60,362
Accumulated Depreciation and Amortization	42,998
Lawrence Park
Real Estate and Accumulated Depreciation [Line Items]
Initial cost to company, Land	6,150
Initial cost to company, Buildings and Improvements	8,491
Cost Capitalized Subsequent to Acquisition	36,084
Gross amount at which carried at close of period, Land	6,161
Gross amount at which carried at close of period, Buildings and Improvements	44,564
Gross amount at which carried at close of period, Total	50,725
Accumulated Depreciation and Amortization	24,724
Linden Square
Real Estate and Accumulated Depreciation [Line Items]
Initial cost to company, Land	79,382
Initial cost to company, Buildings and Improvements	19,247
Cost Capitalized Subsequent to Acquisition	52,762
Gross amount at which carried at close of period, Land	79,346
Gross amount at which carried at close of period, Buildings and Improvements	72,045
Gross amount at which carried at close of period, Total	151,391
Accumulated Depreciation and Amortization	31,683
Melville Mall
Real Estate and Accumulated Depreciation [Line Items]
Initial cost to company, Land	35,622
Initial cost to company, Buildings and Improvements	32,882
Cost Capitalized Subsequent to Acquisition	36,295
Gross amount at which carried at close of period, Land	35,622
Gross amount at which carried at close of period, Buildings and Improvements	69,177
Gross amount at which carried at close of period, Total	104,799
Accumulated Depreciation and Amortization	22,365
Mercer Mall
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost to company, Land	5,917
Initial cost to company, Buildings and Improvements	18,358
Cost Capitalized Subsequent to Acquisition	49,175
Gross amount at which carried at close of period, Land	5,869
Gross amount at which carried at close of period, Buildings and Improvements	67,581
Gross amount at which carried at close of period, Total	73,450
Accumulated Depreciation and Amortization	37,855
Montrose Crossing
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost to company, Land	48,624
Initial cost to company, Buildings and Improvements	91,819
Cost Capitalized Subsequent to Acquisition	27,521
Gross amount at which carried at close of period, Land	48,624
Gross amount at which carried at close of period, Buildings and Improvements	119,340
Gross amount at which carried at close of period, Total	167,964
Accumulated Depreciation and Amortization	39,706
Mount Vernon Plaza
Real Estate and Accumulated Depreciation [Line Items]
Initial cost to company, Land	15,769
Initial cost to company, Buildings and Improvements	33,501
Cost Capitalized Subsequent to Acquisition	43,993
Gross amount at which carried at close of period, Land	15,851
Gross amount at which carried at close of period, Buildings and Improvements	77,412
Gross amount at which carried at close of period, Total	93,263
Accumulated Depreciation and Amortization	44,668
North Dartmouth
Real Estate and Accumulated Depreciation [Line Items]
Initial cost to company, Land	9,366
Initial cost to company, Buildings and Improvements	0
Cost Capitalized Subsequent to Acquisition	3
Gross amount at which carried at close of period, Land	9,366
Gross amount at which carried at close of period, Buildings and Improvements	3
Gross amount at which carried at close of period, Total	9,369
Accumulated Depreciation and Amortization	2
Northeast
Real Estate and Accumulated Depreciation [Line Items]
Initial cost to company, Land	938
Initial cost to company, Buildings and Improvements	8,779
Cost Capitalized Subsequent to Acquisition	24,719
Gross amount at which carried at close of period, Land	939
Gross amount at which carried at close of period, Buildings and Improvements	33,497
Gross amount at which carried at close of period, Total	34,436
Accumulated Depreciation and Amortization	21,263
Old Keene Mill
Real Estate and Accumulated Depreciation [Line Items]
Initial cost to company, Land	638
Initial cost to company, Buildings and Improvements	998
Cost Capitalized Subsequent to Acquisition	11,550
Gross amount at which carried at close of period, Land	638
Gross amount at which carried at close of period, Buildings and Improvements	12,548
Gross amount at which carried at close of period, Total	13,186
Accumulated Depreciation and Amortization	7,002
Old Town Center
Real Estate and Accumulated Depreciation [Line Items]
Initial cost to company, Land	3,420
Initial cost to company, Buildings and Improvements	2,765
Cost Capitalized Subsequent to Acquisition	32,909
Gross amount at which carried at close of period, Land	3,420
Gross amount at which carried at close of period, Buildings and Improvements	35,674
Gross amount at which carried at close of period, Total	39,094
Accumulated Depreciation and Amortization	24,723
Olivo at Mission Hills
Real Estate and Accumulated Depreciation [Line Items]
Initial cost to company, Land	15,048
Initial cost to company, Buildings and Improvements	46,732
Cost Capitalized Subsequent to Acquisition	20,441
Gross amount at which carried at close of period, Land	15,048
Gross amount at which carried at close of period, Buildings and Improvements	67,173
Gross amount at which carried at close of period, Total	82,221
Accumulated Depreciation and Amortization	6,614
Pan Am Shopping Center
Real Estate and Accumulated Depreciation [Line Items]
Initial cost to company, Land	8,694
Initial cost to company, Buildings and Improvements	12,929
Cost Capitalized Subsequent to Acquisition	8,873
Gross amount at which carried at close of period, Land	8,695
Gross amount at which carried at close of period, Buildings and Improvements	21,801
Gross amount at which carried at close of period, Total	30,496
Accumulated Depreciation and Amortization	17,516
Pentagon Row
Real Estate and Accumulated Depreciation [Line Items]
Initial cost to company, Land	0
Initial cost to company, Buildings and Improvements	2,955
Cost Capitalized Subsequent to Acquisition	103,692
Gross amount at which carried at close of period, Land	0
Gross amount at which carried at close of period, Buildings and Improvements	106,647
Gross amount at which carried at close of period, Total	106,647
Accumulated Depreciation and Amortization	56,156
Perring Plaza
Real Estate and Accumulated Depreciation [Line Items]
Initial cost to company, Land	2,800
Initial cost to company, Buildings and Improvements	6,461
Cost Capitalized Subsequent to Acquisition	26,626
Gross amount at which carried at close of period, Land	2,800
Gross amount at which carried at close of period, Buildings and Improvements	33,087
Gross amount at which carried at close of period, Total	35,887
Accumulated Depreciation and Amortization	25,356
Pike & Rose
Real Estate and Accumulated Depreciation [Line Items]
Initial cost to company, Land	31,471
Initial cost to company, Buildings and Improvements	10,335
Cost Capitalized Subsequent to Acquisition	682,962
Gross amount at which carried at close of period, Land	33,716
Gross amount at which carried at close of period, Buildings and Improvements	691,052
Gross amount at which carried at close of period, Total	724,768
Accumulated Depreciation and Amortization	83,746
Pike 7
Real Estate and Accumulated Depreciation [Line Items]
Initial cost to company, Land	14,970
Initial cost to company, Buildings and Improvements	22,799
Cost Capitalized Subsequent to Acquisition	13,142
Gross amount at which carried at close of period, Land	14,914
Gross amount at which carried at close of period, Buildings and Improvements	35,997
Gross amount at which carried at close of period, Total	50,911
Accumulated Depreciation and Amortization	20,740
Plaza Del Mercado
Real Estate and Accumulated Depreciation [Line Items]
Initial cost to company, Land	10,305
Initial cost to company, Buildings and Improvements	21,553
Cost Capitalized Subsequent to Acquisition	15,114
Gross amount at which carried at close of period, Land	10,305
Gross amount at which carried at close of period, Buildings and Improvements	36,667
Gross amount at which carried at close of period, Total	46,972
Accumulated Depreciation and Amortization	8,763
Plaza Del Sol
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost to company, Land	5,605
Initial cost to company, Buildings and Improvements	12,331
Cost Capitalized Subsequent to Acquisition	(55)
Gross amount at which carried at close of period, Land	5,605
Gross amount at which carried at close of period, Buildings and Improvements	12,276
Gross amount at which carried at close of period, Total	17,881
Accumulated Depreciation and Amortization	1,882
Plaza El Segundo/The Point
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	124,521
Initial cost to company, Land	62,127
Initial cost to company, Buildings and Improvements	153,556
Cost Capitalized Subsequent to Acquisition	84,287
Gross amount at which carried at close of period, Land	64,788
Gross amount at which carried at close of period, Buildings and Improvements	235,182
Gross amount at which carried at close of period, Total	299,970
Accumulated Depreciation and Amortization	68,627
Queen Anne Plaza
Real Estate and Accumulated Depreciation [Line Items]
Initial cost to company, Land	3,319
Initial cost to company, Buildings and Improvements	8,457
Cost Capitalized Subsequent to Acquisition	6,827
Gross amount at which carried at close of period, Land	3,319
Gross amount at which carried at close of period, Buildings and Improvements	15,284
Gross amount at which carried at close of period, Total	18,603
Accumulated Depreciation and Amortization	11,427
Quince Orchard
Real Estate and Accumulated Depreciation [Line Items]
Initial cost to company, Land	3,197
Initial cost to company, Buildings and Improvements	7,949
Cost Capitalized Subsequent to Acquisition	29,995
Gross amount at which carried at close of period, Land	2,928
Gross amount at which carried at close of period, Buildings and Improvements	38,213
Gross amount at which carried at close of period, Total	41,141
Accumulated Depreciation and Amortization	25,984
Riverpoint Center
Real Estate and Accumulated Depreciation [Line Items]
Initial cost to company, Land	15,422
Initial cost to company, Buildings and Improvements	104,572
Cost Capitalized Subsequent to Acquisition	1,609
Gross amount at which carried at close of period, Land	15,422
Gross amount at which carried at close of period, Buildings and Improvements	106,181
Gross amount at which carried at close of period, Total	121,603
Accumulated Depreciation and Amortization	16,197
Rockville Town Square
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost to company, Land	0
Initial cost to company, Buildings and Improvements	8,092
Cost Capitalized Subsequent to Acquisition	36,927
Gross amount at which carried at close of period, Land	0
Gross amount at which carried at close of period, Buildings and Improvements	45,019
Gross amount at which carried at close of period, Total	45,019
Accumulated Depreciation and Amortization	20,165
Rollingwood Apts.
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost to company, Land	552
Initial cost to company, Buildings and Improvements	2,246
Cost Capitalized Subsequent to Acquisition	10,695
Gross amount at which carried at close of period, Land	774
Gross amount at which carried at close of period, Buildings and Improvements	12,719
Gross amount at which carried at close of period, Total	13,493
Accumulated Depreciation and Amortization	10,529
San Antonio Center
Real Estate and Accumulated Depreciation [Line Items]
Initial cost to company, Land	26,400
Initial cost to company, Buildings and Improvements	18,462
Cost Capitalized Subsequent to Acquisition	3,268
Gross amount at which carried at close of period, Land	26,400
Gross amount at which carried at close of period, Buildings and Improvements	21,730
Gross amount at which carried at close of period, Total	48,130
Accumulated Depreciation and Amortization	5,408
Santana Row
Real Estate and Accumulated Depreciation [Line Items]
Initial cost to company, Land	66,682
Initial cost to company, Buildings and Improvements	7,502
Cost Capitalized Subsequent to Acquisition	1,172,412
Gross amount at which carried at close of period, Land	57,592
Gross amount at which carried at close of period, Buildings and Improvements	1,189,004
Gross amount at which carried at close of period, Total	1,246,596
Accumulated Depreciation and Amortization	268,804
Sylmar Towne Center
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost to company, Land	18,522
Initial cost to company, Buildings and Improvements	24,637
Cost Capitalized Subsequent to Acquisition	2,964
Gross amount at which carried at close of period, Land	18,522
Gross amount at which carried at close of period, Buildings and Improvements	27,601
Gross amount at which carried at close of period, Total	46,123
Accumulated Depreciation and Amortization	3,936
THE AVENUE at White Marsh
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost to company, Land	20,682
Initial cost to company, Buildings and Improvements	72,432
Cost Capitalized Subsequent to Acquisition	30,635
Gross amount at which carried at close of period, Land	20,685
Gross amount at which carried at close of period, Buildings and Improvements	103,064
Gross amount at which carried at close of period, Total	123,749
Accumulated Depreciation and Amortization	45,759
The Grove at Shrewsbury
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	43,070
Initial cost to company, Land	18,016
Initial cost to company, Buildings and Improvements	103,115
Cost Capitalized Subsequent to Acquisition	7,759
Gross amount at which carried at close of period, Land	18,021
Gross amount at which carried at close of period, Buildings and Improvements	110,869
Gross amount at which carried at close of period, Total	128,890
Accumulated Depreciation and Amortization	28,225
The Shoppes At Nottingham Square
Real Estate and Accumulated Depreciation [Line Items]
Initial cost to company, Land	4,441
Initial cost to company, Buildings and Improvements	12,849
Cost Capitalized Subsequent to Acquisition	1,446
Gross amount at which carried at close of period, Land	4,441
Gross amount at which carried at close of period, Buildings and Improvements	14,295
Gross amount at which carried at close of period, Total	18,736
Accumulated Depreciation and Amortization	6,961
Third Street Promenade
Real Estate and Accumulated Depreciation [Line Items]
Initial cost to company, Land	22,645
Initial cost to company, Buildings and Improvements	12,709
Cost Capitalized Subsequent to Acquisition	52,419
Gross amount at which carried at close of period, Land	25,125
Gross amount at which carried at close of period, Buildings and Improvements	62,648
Gross amount at which carried at close of period, Total	87,773
Accumulated Depreciation and Amortization	36,265
Tower Shopping Center
Real Estate and Accumulated Depreciation [Line Items]
Initial cost to company, Land	7,170
Initial cost to company, Buildings and Improvements	10,518
Cost Capitalized Subsequent to Acquisition	5,210
Gross amount at which carried at close of period, Land	7,280
Gross amount at which carried at close of period, Buildings and Improvements	15,618
Gross amount at which carried at close of period, Total	22,898
Accumulated Depreciation and Amortization	11,009
Tower Shops
Real Estate and Accumulated Depreciation [Line Items]
Initial cost to company, Land	29,940
Initial cost to company, Buildings and Improvements	43,390
Cost Capitalized Subsequent to Acquisition	27,794
Gross amount at which carried at close of period, Land	29,962
Gross amount at which carried at close of period, Buildings and Improvements	71,162
Gross amount at which carried at close of period, Total	101,124
Accumulated Depreciation and Amortization	26,237
Town Center of New Britain
Real Estate and Accumulated Depreciation [Line Items]
Initial cost to company, Land	1,282
Initial cost to company, Buildings and Improvements	12,285
Cost Capitalized Subsequent to Acquisition	3,358
Gross amount at which carried at close of period, Land	1,693
Gross amount at which carried at close of period, Buildings and Improvements	15,232
Gross amount at which carried at close of period, Total	16,925
Accumulated Depreciation and Amortization	7,047
Townson Residential
Real Estate and Accumulated Depreciation [Line Items]
Initial cost to company, Land	2,328
Initial cost to company, Buildings and Improvements	0
Cost Capitalized Subsequent to Acquisition	20,092
Gross amount at which carried at close of period, Land	2,328
Gross amount at which carried at close of period, Buildings and Improvements	20,092
Gross amount at which carried at close of period, Total	22,420
Accumulated Depreciation and Amortization	2,703
Troy
Real Estate and Accumulated Depreciation [Line Items]
Initial cost to company, Land	3,126
Initial cost to company, Buildings and Improvements	5,193
Cost Capitalized Subsequent to Acquisition	32,847
Gross amount at which carried at close of period, Land	5,865
Gross amount at which carried at close of period, Buildings and Improvements	35,301
Gross amount at which carried at close of period, Total	41,166
Accumulated Depreciation and Amortization	25,111
Twinbrooke Shopping Centre
Real Estate and Accumulated Depreciation [Line Items]
Initial cost to company, Land	16,484
Initial cost to company, Buildings and Improvements	18,898
Cost Capitalized Subsequent to Acquisition	57
Gross amount at which carried at close of period, Land	16,484
Gross amount at which carried at close of period, Buildings and Improvements	18,955
Gross amount at which carried at close of period, Total	35,439
Accumulated Depreciation and Amortization	263
Tyson's Station
Real Estate and Accumulated Depreciation [Line Items]
Initial cost to company, Land	388
Initial cost to company, Buildings and Improvements	453
Cost Capitalized Subsequent to Acquisition	5,241
Gross amount at which carried at close of period, Land	493
Gross amount at which carried at close of period, Buildings and Improvements	5,589
Gross amount at which carried at close of period, Total	6,082
Accumulated Depreciation and Amortization	4,238
Village at Shirlington
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost to company, Land	9,761
Initial cost to company, Buildings and Improvements	14,808
Cost Capitalized Subsequent to Acquisition	39,526
Gross amount at which carried at close of period, Land	4,234
Gross amount at which carried at close of period, Buildings and Improvements	59,861
Gross amount at which carried at close of period, Total	64,095
Accumulated Depreciation and Amortization	33,277
Westgate Center
Real Estate and Accumulated Depreciation [Line Items]
Initial cost to company, Land	6,319
Initial cost to company, Buildings and Improvements	107,284
Cost Capitalized Subsequent to Acquisition	44,549
Gross amount at which carried at close of period, Land	6,319
Gross amount at which carried at close of period, Buildings and Improvements	151,833
Gross amount at which carried at close of period, Total	158,152
Accumulated Depreciation and Amortization	72,593
White Marsh Plaza
Real Estate and Accumulated Depreciation [Line Items]
Initial cost to company, Land	3,478
Initial cost to company, Buildings and Improvements	21,413
Cost Capitalized Subsequent to Acquisition	1,674
Gross amount at which carried at close of period, Land	3,514
Gross amount at which carried at close of period, Buildings and Improvements	23,051
Gross amount at which carried at close of period, Total	26,565
Accumulated Depreciation and Amortization	11,094
White Marsh Other
Real Estate and Accumulated Depreciation [Line Items]
Initial cost to company, Land	28,809
Initial cost to company, Buildings and Improvements	0
Cost Capitalized Subsequent to Acquisition	77
Gross amount at which carried at close of period, Land	28,839
Gross amount at which carried at close of period, Buildings and Improvements	47
Gross amount at which carried at close of period, Total	28,886
Accumulated Depreciation and Amortization	0
Wildwood
Real Estate and Accumulated Depreciation [Line Items]
Initial cost to company, Land	9,111
Initial cost to company, Buildings and Improvements	1,061
Cost Capitalized Subsequent to Acquisition	17,219
Gross amount at which carried at close of period, Land	9,111
Gross amount at which carried at close of period, Buildings and Improvements	18,280
Gross amount at which carried at close of period, Total	27,391
Accumulated Depreciation and Amortization	10,298
Willow Grove
Real Estate and Accumulated Depreciation [Line Items]
Initial cost to company, Land	1,499
Initial cost to company, Buildings and Improvements	6,643
Cost Capitalized Subsequent to Acquisition	23,943
Gross amount at which carried at close of period, Land	1,499
Gross amount at which carried at close of period, Buildings and Improvements	30,586
Gross amount at which carried at close of period, Total	32,085
Accumulated Depreciation and Amortization	22,653
Willow Lawn
Real Estate and Accumulated Depreciation [Line Items]
Initial cost to company, Land	3,192
Initial cost to company, Buildings and Improvements	7,723
Cost Capitalized Subsequent to Acquisition	94,318
Gross amount at which carried at close of period, Land	7,790
Gross amount at which carried at close of period, Buildings and Improvements	97,443
Gross amount at which carried at close of period, Total	105,233
Accumulated Depreciation and Amortization	67,685
Wynnewood
Real Estate and Accumulated Depreciation [Line Items]
Initial cost to company, Land	8,055
Initial cost to company, Buildings and Improvements	13,759
Cost Capitalized Subsequent to Acquisition	21,055
Gross amount at which carried at close of period, Land	8,055
Gross amount at which carried at close of period, Buildings and Improvements	34,814
Gross amount at which carried at close of period, Total	42,869
Accumulated Depreciation and Amortization	$ 27,285
[1]	For Federal tax purposes, the aggregate cost basis is approximately $8.4 billion as of December 31, 2021.

Schedule III Part II - Summar_2

Schedule III Part II - Summary of Real Estate and Accumulated Depreciation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021		Dec. 31, 2020	Dec. 31, 2019
January 1, 2019 adoption of new accounting standard - See Note 2				$ (71,859)
January 1, 2019 adoption of new accounting standard - See Note 2				(18,173)
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements [Abstract]
Balance at beginning of year	$ 8,582,870		$ 8,298,132	7,819,472
Acquisitions	519,350		39,440	309,921
Improvements	424,521		473,679	441,703
Impairment of property			(68,484)
Deduction during period—dispositions and retirements of property	(104,679)		(159,897)	(201,105)
Balance at end of year	9,422,062	[1]	8,582,870	8,298,132
Aggregate cost basis for Federal tax purposes	8,400,000
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at beginning of year	2,357,692		2,215,413	2,059,143
Additions during period—depreciation and amortization expense	246,338		229,199	215,382
Deductions during period—dispositions and retirements of property	(72,935)		(75,289)	(40,939)
Real estate accumulated depreciation impairment of property			(11,631)
Balance at end of year	$ 2,531,095		$ 2,357,692	$ 2,215,413
[1]	For Federal tax purposes, the aggregate cost basis is approximately $8.4 billion as of December 31, 2021.

Schedule IV - Mortgage Loans _2

Schedule IV - Mortgage Loans on Real Estate (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2021		Dec. 31, 2020	Dec. 31, 2018
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Prior Liens		$ 63,740
Face Amount of Mortgages		10,175
Carrying Amount of Mortgages		9,543	[1]	$ 39,892	$ 30,429
Principal Amount of Loans Subject to delinquent Principal or Interest		0
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Other Disclosure [Abstract]
Aggregate tax basis for Federal tax purposes		10,200
SEC Schedule, 12-29, Real Estate Companies, Investment in Movement in Mortgage Loans on Real Estate [Roll Forward]
Balance at beginning of year		39,892		30,429
January 1, 2020 adoption of new accounting standard				(790)
Acquisitions of loans, net of valuation adjustements				9,560
Issuance of loans		600		693
Collection and satisfaction of loans		(30,339)
Valuation adjustments		(610)
Balance at end of year		9,543	[1]	$ 39,892
Second Mortgage on a retail shopping center in Rockville, MD One
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Prior Liens	[2]	58,750
Face Amount of Mortgages		5,075
Carrying Amount of Mortgages	[1]	5,075
Principal Amount of Loans Subject to delinquent Principal or Interest		0
SEC Schedule, 12-29, Real Estate Companies, Investment in Movement in Mortgage Loans on Real Estate [Roll Forward]
Balance at end of year	[1]	5,075
Second Mortgage on a retail shopping center in Rockville, MD Two
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Prior Liens	[2]	58,750
Face Amount of Mortgages		4,500
Carrying Amount of Mortgages	[1]	4,433
Principal Amount of Loans Subject to delinquent Principal or Interest		0
SEC Schedule, 12-29, Real Estate Companies, Investment in Movement in Mortgage Loans on Real Estate [Roll Forward]
Balance at end of year	[1]	$ 4,433
Second mortgage on a retail shopping center in Baltimore, MD
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Interest Rate		7.00%
Prior Liens	[3]	$ 4,990
Face Amount of Mortgages		600
Carrying Amount of Mortgages	[1]	35
Principal Amount of Loans Subject to delinquent Principal or Interest		0
SEC Schedule, 12-29, Real Estate Companies, Investment in Movement in Mortgage Loans on Real Estate [Roll Forward]
Balance at end of year	[1]	$ 35
Interest Rate One | Second Mortgage on a retail shopping center in Rockville, MD One
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Interest Rate		11.50%
Interest Rate Two | Second Mortgage on a retail shopping center in Rockville, MD Two
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Interest Rate		10.75%
[1]	The amounts are net of any expected losses in accordance with ASU 2016-13. See note 2 to the consolidated financial statements. For Federal tax purposes, the aggregate tax basis is approximately $10.2 million as of December 31, 2021.
[2]	These mortgages are both subordinate to a first mortgage of $58.8 million in total. We do not hold the first mortgage loan on this property. Accordingly, the amount of the prior lien at December 31, 2021 is estimated.
[3]	This mortgage is subordinate to a first mortgage of $5.0 million. We do not hold the first mortgage loan on this property. Accordingly, the amount of the prior lien at December 31, 2021 is estimated.