RPT Realty (KIM+N) 10-Q 30 Oct 15 2015 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2015	Oct. 21, 2015
Document Documentand Entity Information [Abstract]
Entity Registrant Name	RAMCO GERSHENSON PROPERTIES TRUST
Entity Central Index Key	842,183
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Trading Symbol	RPT
Entity Common Stock, Shares Outstanding		79,162,358

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Income producing properties, at cost:
Land	$ 392,927	$ 341,388
Buildings and improvements	1,799,554	1,592,644
Less accumulated depreciation and amortization	(322,290)	(287,177)
Income producing properties, net	1,870,191	1,646,855
Construction in progress and land available for development or sale	59,405	74,655
Net real estate	1,929,596	1,721,510
Equity investments in unconsolidated joint ventures	4,236	28,733
Cash and cash equivalents	7,413	9,335
Restricted cash	8,352	8,163
Accounts receivable (net of allowance for doubtful accounts of $2,684 and $2,292 as of September 30, 2015 and December 31, 2014, respectively)	16,070	11,997
Acquired lease intangibles, net	95,657	77,045
Other assets, net	93,126	91,596
TOTAL ASSETS	2,154,450	1,948,379
LIABILITIES AND SHAREHOLDERS' EQUITY
Notes payable	1,103,903	921,705
Capital lease obligation	1,148	1,828
Accounts payable and accrued expenses	42,295	44,232
Acquired lease intangibles, net	66,551	54,278
Other liabilities	12,112	10,106
Distributions payable	18,842	17,951
TOTAL LIABILITIES	$ 1,244,851	$ 1,050,100
Commitments and Contingencies
Ramco-Gershenson Properties Trust (RPT) Shareholders' Equity:
Preferred shares, $0.01 par, 2,000 shares authorized: 7.25% Series D Cumulative Convertible Perpetual Preferred Shares, (stated at liquidation preference $50 per share), 1,849 and 2,000 shares issued and outstanding as of September 30, 2015 and December 31, 2014, respectively	$ 92,427	$ 100,000
Common shares of beneficial interest, $0.01 par, 120,000 shares authorized, 79,162 and 77,573 shares issued and outstanding as of September 30, 2015 and December 31, 2014, respectively	792	776
Additional paid-in capital	1,155,798	1,130,262
Accumulated distributions in excess of net income	(360,234)	(356,715)
Accumulated other comprehensive loss	(3,888)	(1,966)
TOTAL SHAREHOLDERS' EQUITY ATTRIBUTABLE TO RPT	884,895	872,357
Noncontrolling interest	24,704	25,922
TOTAL SHAREHOLDERS' EQUITY	909,599	898,279
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 2,154,450	$ 1,948,379

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Accounts receivable, allowance for doubtful accounts	$ 2,684	$ 2,292
Common shares of beneficial interest, par (in usd per share)	$ 0.01	$ 0.01
Common shares of beneficial interest, shares authorized (in shares)	120,000,000	120,000,000
Common shares of beneficial interest, shares issued (in shares)	79,162,000	77,573,000
Common shares of beneficial interest, shares outstanding (in shares)	79,162,000	77,573,000
Series D Preferred Stock
Preferred shares, par (in usd per shares)	$ 0.01	$ 0.01
Preferred shares, shares authorized (in shares)	2,000,000	2,000,000
Cumulative Perpetual Convertible Preferred Shares, shares issued (in shares)	1,849,000	2,000,000
Cumulative Perpetual Convertible Preferred Shares, shares outstanding (in shares)	1,849,000	2,000,000
Cumulative Perpetual Convertible Preferred Shares, liquidation preference (in usd per share)	$ 50	$ 50
Cumulative Perpetual Convertible Preferred Shares, dividend rate percentage	7.25%	7.25%

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
REVENUE
Minimum rent	$ 47,324	$ 40,735	$ 135,002	$ 114,056
Percentage rent	25	54	396	207
Recovery income from tenants	15,238	12,725	43,522	36,829
Other property income	1,161	1,047	2,870	2,586
Management and other fee income	312	582	1,422	1,528
TOTAL REVENUE	64,060	55,143	183,212	155,206
EXPENSES
Real estate taxes	9,670	7,217	27,791	21,931
Recoverable operating expense	7,234	6,440	21,358	18,338
Other non-recoverable operating expense	1,101	942	2,808	2,626
Depreciation and amortization	22,914	19,178	64,397	60,577
Acquisition costs	267	1,189	574	1,722
General and administrative expense	4,020	5,395	14,368	16,095
Provision for impairment	0	0	2,521	0
TOTAL EXPENSES	45,206	40,361	133,817	121,289
OPERATING INCOME	18,854	14,782	49,395	33,917
OTHER INCOME AND EXPENSES
Other expense, net	(171)	(243)	(362)	(615)
Gain on sale of real estate	4,536	258	8,005	2,930
Earnings (loss) from unconsolidated joint ventures	13,977	455	16,972	(336)
Interest expense	(10,091)	(8,645)	(30,118)	(23,876)
Amortization of deferred financing fees	(389)	(342)	(1,053)	(1,115)
Gain on remeasurement of unconsolidated joint ventures	7,892	0	7,892	117
Gain (loss) on extinguishment of debt	27	0	1,414	(860)
INCOME BEFORE TAX	34,635	6,265	52,145	10,162
Income tax provision	(29)	(2)	(306)	(18)
NET INCOME	34,606	6,263	51,839	10,144
Net income attributable to noncontrolling partner interest	(940)	(180)	(1,416)	(303)
NET INCOME ATTRIBUTABLE TO RPT	33,666	6,083	50,423	9,841
Preferred share dividends	(1,675)	(1,813)	(5,162)	(5,438)
Preferred share conversion costs	0	0	(500)	0
NET INCOME AVAILABLE TO COMMON SHAREHOLDERS	$ 31,991	$ 4,270	$ 44,761	$ 4,403
EARNINGS PER COMMON SHARE
Basic (in USD per share)	$ 0.39	$ 0.06	$ 0.57	$ 0.06
Diluted (in USD per share)	$ 0.38	$ 0.06	$ 0.57	$ 0.06
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING
Basic (in shares)	79,162	74,840	78,742	70,283
Diluted (in shares)	85,881	75,080	78,939	70,520
OTHER COMPREHENSIVE INCOME
Net income	$ 34,606	$ 6,263	$ 51,839	$ 10,144
Other comprehensive (loss) gain:
(Loss) gain on interest rate swaps	(1,661)	1,236	(1,976)	(840)
Comprehensive income	32,945	7,499	49,863	9,304
Comprehensive income attributable to noncontrolling interest (as revised)	(895)	(218)	(1,362)	(274)
COMPREHENSIVE INCOME ATTRIBUTABLE TO RPT (AS REVISED)	$ 32,050	$ 7,281	$ 48,501	$ 9,030

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Shareholders' Equity - 9 months ended Sep. 30, 2015 - USD ($) $ in Thousands	Total	Preferred Shares	Common Shares	Additional Paid-in Capital	Accumulated Distributions in Excess of Net Income	Accumulated Other Comprehensive Loss	Noncontrolling Interest
Beginning balance at Dec. 31, 2014	$ 898,279	$ 100,000	$ 776	$ 1,130,262	$ (356,715)	$ (1,966)	$ 25,922
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common shares	17,110		9	17,101
Conversion and redemption of OP unit holders	(1,225)						(1,225)
Conversion of preferred shares	(500)	(7,573)	5	7,568	(500)
Share-based compensation and other expense, net of shares withheld for employee taxes	869		2	867
Dividends declared to common shareholders	(48,033)				(48,033)
Dividends declared to preferred shareholders	(5,162)				(5,162)
Distributions declared to noncontrolling interests	(1,355)						(1,355)
Dividends declared to deferred shares	(247)				(247)
Other comprehensive income adjustment	(1,976)					(1,922)	(54)
Net income	51,839				50,423		1,416
Ending balance at Sep. 30, 2015	$ 909,599	$ 92,427	$ 792	$ 1,155,798	$ (360,234)	$ (3,888)	$ 24,704

Condensed Consolidated Stateme6

Condensed Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
OPERATING ACTIVITIES
Net income	$ 51,839	$ 10,144
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	64,397	60,577
Amortization of deferred financing fees	1,053	1,115
Income tax provision	306	18
(Earnings) loss from unconsolidated joint ventures	(16,972)	336
Distributions received from operations of unconsolidated joint ventures	1,410	1,759
Provision for impairment	2,521	0
(Gain) loss on extinguishment of debt	(1,414)	860
Gain on remeasurement of unconsolidated joint ventures	(7,892)	(117)
Gain on sale of real estate	(8,005)	(2,930)
Amortization of premium on mortgages, net	(1,225)	(791)
Share-based compensation expense	1,340	1,618
Long-term incentive cash compensation (benefit) expense	(400)	1,588
Changes in assets and liabilities:
Accounts receivable, net	(4,073)	(1,953)
Acquired lease intangibles and other assets, net	2,090	2,433
Accounts payable, acquired lease intangibles and other liabilities	(8,415)	2,954
Net cash provided by operating activities	76,560	77,611
INVESTING ACTIVITIES
Acquisition of real estate	(152,923)	(263,463)
Development and capital improvements	(42,906)	(56,774)
Net proceeds from sales of real estate	25,375	10,753
Distributions from sale of joint venture property	8,173	0
Increase in restricted cash	(189)	(1,465)
Net cash used in investing activities	(162,470)	(310,949)
FINANCING ACTIVITIES
Proceeds of mortgages and notes payable	100,000	175,000
Repayment of mortgages and notes payable	(91,381)	(152,673)
Net proceeds on revolving credit facility	115,000	93,000
Payment of deferred financing costs	(429)	(764)
Proceeds, net of costs, from issuance of common stock	17,110	170,404
Repayment of capitalized lease obligation	(680)	(269)
Redemption or conversion of operating partnership units for cash	(1,225)	(84)
Conversion of preferred shares	(500)	0
Dividends paid to preferred shareholders	(5,300)	(5,438)
Dividends paid to common shareholders	(47,259)	(38,540)
Distributions paid to operating partnership unit holders	(1,348)	(1,267)
Net cash provided by financing activities	83,988	239,369
Net change in cash and cash equivalents	(1,922)	6,031
Cash and cash equivalents at beginning of period	9,335	5,795
Cash and cash equivalents at end of period	7,413	11,826
SUPPLEMENTAL DISCLOSURE OF NON-CASH ACTIVITY
Assumption of debt related to acquisitions	60,048	58,634
Revaluation of capital lease obligation	0	4,697
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Cash paid for interest (net of capitalized interest of $1,054 and $1,606 in 2015 and 2014, respectively)	29,808	24,529
Cash paid for federal income taxes	$ 0	$ 0

Condensed Consolidated Stateme7

Condensed Consolidated Statements Of Cash Flows (Parenthetical) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Statement of Cash Flows [Abstract]
Cash paid for interest, capitalized interest	$ 1,054	$ 1,606

Organization and Basis of Prese

Organization and Basis of Presentations	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Organization and Basis of Presentations	Organization and Basis of Presentations Organization Ramco-Gershenson Properties Trust, together with its subsidiaries (the “Company” or "RPT"), is a real estate investment trust (“REIT”) engaged in the business of owning, developing, redeveloping, acquiring, managing and leasing large multi-anchored shopping centers primarily in a dozen of the largest metropolitan markets in the United States. As of September 30, 2015 , our property portfolio consists of 72 wholly owned shopping centers and one office building comprising approximately 15.5 million square feet. We also have ownership interests, ranging from 7% to 30% , in four joint ventures that each own a single shopping center. In addition, we own interests in several land parcels that are available for development or sale. Most of our properties are anchored by supermarkets and/or national chain stores. The Company’s credit risk, therefore, is concentrated in the retail industry. Basis of Presentation The accompanying condensed consolidated financial statements include the accounts of the Company and our majority owned subsidiary, the Operating Partnership, Ramco-Gershenson Properties, L.P. (the "OP") ( 97.3% and 97.2% owned by the Company at September 30, 2015 and December 31, 2014 , respectively), and all wholly-owned subsidiaries, including entities in which we have a controlling financial interest. We have elected to be a REIT for federal income tax purposes. All intercompany balances and transactions have been eliminated in consolidation. The information furnished is unaudited and reflects all adjustments which are, in the opinion of management, necessary to reflect a fair statement of the results for the interim periods presented, and all such adjustments are of a normal recurring nature. These condensed consolidated financial statements should be read in conjunction with our Annual Report on Form 10-K for the year ended December 31, 2014 . The preparation of our unaudited financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management of the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the unaudited financial statements and the reported amounts of revenues and expenses during the reporting period. We base our estimates on historical experience and on various other assumptions that we believe to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and reported amounts that are not readily apparent from other sources. Actual results could differ from those estimates. Reclassifications and Revisions Certain reclassifications of prior period amounts have been made in the condensed consolidated financial statements and footnotes in order to conform to the current presentation. In previously filed quarterly reports, the Company erroneously calculated comprehensive income attributable to noncontrolling interest. Accordingly, the Consolidated Statements of Comprehensive Income have been revised. The revision resulted in a decrease to previously reported comprehensive income attributable to RPT as follows: Three Months Ended Nine Months Ended September 30, 2014 (in thousands) Comprehensive income attributable to non controlling interest as previously reported $ (38 ) $ 29 Comprehensive income attributable to non controlling interest as revised $ (218 ) $ (274 ) Comprehensive income attributable to RPT as previously reported $ 7,461 $ 9,333 Comprehensive income attributable to RPT as revised $ 7,281 $ 9,030 There was no impact to the Condensed Consolidated Balance Sheets, Condensed Consolidated Statements of Operations and Condensed Consolidated Statements of Shareholders’ Equity or to the Company’s cash position. Recent Accounting Pronouncements In April 2015, the Financial Accounting Standards Board ("FASB") updated Accounting Standards Codification ("ASC") Topic 835 "Interest" with Accounting Standards Update ("ASU") No. 2015-03, "Interest - Imputation of Interest - Simplifying the Presentation of Debt Issuance Costs". ASU 2015-03 modifies the treatment of debt issuance costs from a deferred charge to a deduction of the carrying value of the financial liability. ASU 2015-03 is effective for periods beginning after December 15, 2015, with early adoption permitted and retrospective application. In August 2015, the FASB issued an amendment to ASU 2015-03 pursuant to an SEC staff announcement which addresses the presentation and subsequent measurement of debt issuance costs associated with line of credit arrangements. We are currently assessing the impact the adoption of ASU 2015-03 will have on our consolidated financial statements. In February 2015, the FASB updated ASC Topic 810 "Consolidation" with ASU 2015-02, "Amendments to the Consolidation Analysis". ASU 2015-02 affects reporting entities that are required to evaluate whether they should consolidate certain legal entities. ASU 2015-02 modifies the evaluation of whether limited partnerships and similar legal entities are Variable Interest Entities ("VIEs") or voting interest entities, eliminates the presumption that a general partner should consolidate a limited partnership and affects the consolidation analysis of reporting entities that are involved in VIEs, particularly those that have fee arrangements and related party relationships. ASU 2015-02 is effective for annual reporting periods (including interim periods within those periods), beginning after December 15, 2015. Early adoption is permitted. We believe the adoption of this guidance will not have a material effect on our consolidated financial statements. In May 2014, the FASB issued ASU 2014-09 "Revenue from Contract with Customers" as a new Topic, ASC Topic 606. The objective of ASU 2014-09 is to establish a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and it will supersede most of the existing revenue recognition guidance, including industry-specific guidance. The core principle is that a company should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In applying the new standard, companies will perform a five-step analysis of transactions to determine when and how revenue is recognized. ASU 2014-09 applies to all contracts with customers except those that are within the scope of other topics in the FASB ASC. Adoption shall be applied using either a full retrospective or modified retrospective approach. In July, the FASB issued a one year deferral of the effective date making it effective for annual reporting periods (including interim periods within those periods) beginning after December 15, 2017 while also providing for early adoption, but not before the original effective date of December 15, 2016. We are currently assessing the impact the adoption of this standard may have on our consolidated financial statements.

Real Estate

Real Estate	9 Months Ended
	Sep. 30, 2015
Real Estate [Abstract]
Real Estate	Real Estate Included in our net real estate assets are income producing shopping center properties and one office building that are recorded at cost less accumulated depreciation and amortization. We review our investment in real estate, including any related intangible assets, for impairment on a property-by-property basis whenever events or changes in circumstances indicate that the carrying value of the property may not be recoverable. These changes in circumstances include, but are not limited to, changes in occupancy, rental rates, tenant sales, net operating income, geographic location, real estate values and expected holding period. Land available for development or sale includes real estate projects where vertical construction has yet to commence, but which have been identified by us and are available for future development when market conditions dictate the demand for a new shopping center. The viability of all projects under construction or development, including those owned by unconsolidated joint ventures, is regularly evaluated under applicable accounting requirements, including requirements relating to abandonment of assets or changes in use. Land available for development or sale was $39.7 million and $48.9 million at September 30, 2015 and December 31, 2014 , respectively. Construction in progress represents existing development, redevelopment and tenant build-out projects. When projects are substantially complete and ready for their intended use, balances are transferred to land or building and improvements as appropriate. Construction in progress was $19.7 million and $25.7 million at September 30, 2015 and December 31, 2014 , respectively. The decrease in construction in progress from December 31, 2014 to September 30, 2015 was due primarily to the substantial completion of two redevelopment projects, offset in part by ongoing development, redevelopment and expansion projects across the portfolio. During the first quarter of 2015, we recorded an impairment provision of $2.5 million related to developable land that was subsequently sold in the second quarter of 2015. The adjustment was triggered by an unforeseen increase in development costs and changes in the associated sales price assumptions. Refer to Note 3 for additional information related to dispositions.

Property Acquisitions and Dispo

Property Acquisitions and Dispositions	9 Months Ended
	Sep. 30, 2015
Business Combinations [Abstract]
Property Acquisitions and Dispositions	Property Acquisitions and Dispositions Acquisitions The following table provides a summary of our acquisition activity for the nine months ended September 30, 2015 : Gross Property Name Location GLA Acreage Date Purchase Assumed (In thousands) (In thousands) Millennium Park Livonia, MI 273 N/A 08/11/15 $ 47,000 $ — Spring Meadows - Kroger Building Holland, OH 51 N/A 08/06/15 4,110 — Ramco 450 Portfolio - six Income Producing Properties GA, IL, OH & MD 1,126 N/A 07/21/15 191,090 60,048 Jackson Crossing Shops Jackson, MI 15 N/A 06/22/15 5,000 — Petco at West Oaks Novi, MI 26 N/A 06/10/15 5,500 — Total consolidated income producing acquisitions 1,491 $ 252,700 $ 60,048 Gaines Marketplace Gaines Township, MI N/A 1.9 02/12/15 $ 1,000 $ — Lakeland Park Center Lakeland, FL N/A 1.6 01/23/15 475 — Total consolidated land / outparcel acquisitions 3.5 $ 1,475 $ — Total Acquisitions 1,491 3.5 $ 254,175 $ 60,048 The aggregate fair value of our 2015 acquisitions through September 30, 2015 , was allocated and is reflected in the following table in accordance with accounting guidance for business combinations. Some of the purchase price allocations are preliminary and may be adjusted as final costs and valuations are determined: Allocated Fair Value (In thousands) Land $ 50,367 Buildings and improvements 183,651 Above market leases 1,014 Lease origination costs 32,683 Other assets 4,256 Below market leases (16,616 ) Premium for above market interest rates on assumed debt (1,180 ) Total purchase price allocated $ 254,175 Mortgages notes assumed (60,048 ) RPT's fair value of existing ownership (1) (41,204 ) Net assets acquired $ 152,923 (1) We acquired our partner's 80% interest in six properties owned by the Ramco 450 Venture LLC ("Ramco 450") and our partner's 70% interest in Millennium Park owned by the Ramco/Lion Venture LP ("RLV"). The fair value indicated is net of a credit of $10.6 million we received when we sold our 20% interest in one property owned by Ramco 450 to our partner. Total revenue and net income for the 2015 acquisitions included in our condensed consolidated statement of operations for the three and nine months ended September 30, 2015 were as follows: Three Months Ended Nine Months Ended (In thousands) Total revenue from 2015 acquisitions $ 4,763 $ 4,812 Net income from 2015 acquisitions $ 437 $ 476 Unaudited Proforma Information If the 2015 Acquisitions had occurred on January 1, 2014, our consolidated revenues and net income for the three and nine months ended September 30, 2015 and 2014 would have been as follows: Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 (In thousands) Consolidated revenue $ 65,619 $ 61,052 $ 196,922 $ 173,418 Consolidated net income available to common shareholders $ 32,219 $ 4,960 $ 46,212 $ 6,620 Dispositions The following table provides a summary of our disposition activity for the nine months ended September 30, 2015 : Gross Property Name Location GLA Acreage Date Sold Sales Price Debt Repaid Gain (Loss) on Sale (In thousands) (In thousands) Conyers Crossing Conyers, GA 170 1.3 09/30/15 $ 9,750 $ — $ 4,536 Total income producing dispositions 170 1.3 $ 9,750 $ — $ 4,536 The Town Center at Aquia - Commercial / Residential Land Stafford, VA 35 32.8 05/29/15 $ 13,350 $ — $ 289 Taylors Square - Outparcel Taylors, SC N/A 0.6 04/22/15 250 — (16 ) Target and Shell Oil Parcels Gaines Township, MI N/A 11.3 02/12/15 5,150 — 3,196 Total land / outparcel dispositions 35 44.7 $ 18,750 $ — $ 3,469 Total consolidated dispositions 205 46.0 $ 28,500 $ — $ 8,005 Pursuant to the criteria established under ASC Topic 360 "Property, Plant, and Equipment," we will classify properties as held for sale when executed purchase and sales agreement contingencies have been satisfied thereby signifying that the sale is legally binding and we are able to conclude that the sale of the property within one year is probable. As of September 30, 2015 there were no properties or land classified as held for sale. With our adoption of ASU 2014-08 dispositions and assets held for sale do not qualify for presentation as Discontinued Operations in the Condensed Consolidated Statements of Operations and Comprehensive Income as they do not represent a strategic shift in our operations and are not considered an individually significant component of our operations.

Equity Investments in Unconsoli

Equity Investments in Unconsolidated Joint Ventures	9 Months Ended
	Sep. 30, 2015
Equity Method Investments and Joint Ventures [Abstract]
Equity Investments in Unconsolidated Joint Ventures	Equity Investments in Unconsolidated Joint Ventures We have four joint venture agreements whereby we own between 7% and 30% of the equity in each joint venture. We and the joint venture partners have joint approval rights for major decisions, including those regarding property operations. We cannot make significant decisions without our partner’s approval. Accordingly, we account for our interest in the joint ventures using the equity method of accounting. The combined condensed financial information for our unconsolidated joint ventures is summarized as follows: Balance Sheets September 30, 2015 December 31, 2014 (In thousands) ASSETS Income producing properties, net $ 112,306 $ 394,740 Cash, accounts receivable and other assets 7,358 23,102 Total Assets $ 119,664 $ 417,842 LIABILITIES AND OWNERS' EQUITY Mortgage notes payable (1) $ 22,000 $ 170,194 Other liabilities 2,639 7,625 Owners' equity 95,025 240,023 Total Liabilities and Owners' Equity $ 119,664 $ 417,842 RPT's equity investments in unconsolidated joint ventures $ 4,236 $ 28,733 (1) Balance as of September 30, 2015 relates to the Chester Springs Shopping Center mortgage with an interest rate of 1.9% . Debt is non-recourse to the venture, subject to carve-outs customary to such types of mortgage financing. Subsequent to September 30, 2015 , Chester Springs was sold and the debt was assumed by the buyer. Refer to Note 12 for additional information. Three Months Ended September 30, Nine Months Ended September 30, Statements of Operations 2015 2014 2015 2014 (In thousands) Total revenue $ 4,603 $ 10,425 $ 25,513 $ 31,927 Total expenses (1) 3,035 7,012 17,698 31,973 Income (loss) before other income and expense 1,568 3,413 7,815 (46 ) Gain on sale of real estate (2) 67,342 — 74,805 740 Interest expense (537 ) (1,820 ) (4,131 ) (5,511 ) Gain on extinguishment of debt — — — 529 Amortization of deferred financing fees (39 ) (77 ) (187 ) (229 ) Net income (loss) $ 68,334 $ 1,516 $ 78,302 $ (4,517 ) RPT's share of earnings (loss) from unconsolidated joint ventures $ 13,977 $ 455 $ 16,972 $ (336 ) (1) The higher expenses for the nine months ended September 30, 2014 were due to the demolition of a portion of a center for redevelopment and the commensurate acceleration of depreciation in that period. (2) See Dispositions below for details of the transaction. Acquisitions There was no acquisition activity in the nine months ended September 30, 2015 by any of our unconsolidated joint ventures. Dispositions The following table provides a summary of disposition activity, by our unconsolidated joint ventures, for the nine months ended September 30, 2015 Gross Property Name Location GLA Ownership % Date Sales Debt Gain (In thousands) (In thousands) Millennium Park Livonia, MI 273 30% 08/11/15 $ 47,000 $ 29,658 $ 1,776 Ramco 450 Portfolio - Seven Income Producing Properties FL, GA, IL, OH, & MD 1,440 20% 07/21/15 291,908 117,959 65,566 Village of Oriole Plaza Delray Beach, FL 156 30% 03/24/15 27,500 — 7,463 Total unconsolidated joint venture dispositions 1,869 $ 366,408 $ 147,617 $ 74,805 Joint Venture Management and Other Fee Income We are engaged by our joint ventures to provide asset management, property management, leasing and investing services for such venture’s respective properties. We receive fees for our services, including a property management fee calculated as a percentage of gross revenues received, and recognize these fees as the services are rendered. The following table provides information for our fees earned which are reported in our condensed consolidated statements of operations: Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 (In thousands) Management fees $ 251 $ 379 $ 1,033 $ 1,145 Leasing fees 30 160 238 266 Construction fees 31 43 151 117 Total $ 312 $ 582 $ 1,422 $ 1,528

Debt

Debt	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
Debt	Debt The following table summarizes our mortgages and notes payable and capital lease obligation as of September 30, 2015 and December 31, 2014 : Notes Payable September 30, December 31, (In thousands) Senior unsecured notes $ 410,000 $ 310,000 Unsecured term loan facilities 210,000 210,000 Fixed rate mortgages 323,381 354,714 Unsecured revolving credit facility 125,000 10,000 Junior subordinated notes 28,125 28,125 1,096,506 912,839 Unamortized premium 7,397 8,866 Total notes payable $ 1,103,903 $ 921,705 Capital lease obligation $ 1,148 $ 1,828 We completed the following financing transactions during the nine months ended September 30, 2015 : • In September 2015, we executed a $100.0 million private placement of senior unsecured notes. Series A consists of $50.0 million of notes, ten years term at a fixed interest rate of 4.09% , which funded on September 30, 2015. Series B, $25.0 million , nine years fixed interest rate of 4.05% and Series C, $25.0 million , eleven years fixed interest rate of 4.28% , both are expected to fund in November 2015; and • In July 2015, we funded the $50.0 million "shelf" facility related to the private placement of debt completed in May 2014. The notes have ten years term at a fixed interest rate of 4.2% . During the nine months ended September 30, 2015 we had the following mortgage transactions: • In conjunction with our acquisition of the Ramco 450 portfolio, we assumed three mortgage loans with principal balances totaling $60.1 million and an average interest rate of 4.1% . In addition, at closing, two additional mortgage loans were repaid totaling $41.7 million , of which our pro rata share was $11.3 million . We recorded a premium of approximately $1.2 million based upon the fair value of the loans on the date they were assumed. The mortgage premiums are being amortized to interest expense over the remaining life of the loans; and • We repaid mortgage notes secured by certain properties totaling $86.5 million , with an average weighted interest rate of 5.2% . In conjunction with the mortgage repayments we recognized a gain on extinguishment of debt of approximately $1.4 million as a result of the write off of the associated debt premiums. In addition, we modified the mortgage secured by the Aquia Town Center Office property. The modification extends the maturity date one year with a fixed rate interest rate of 5.798% . Approximately $1.7 million of existing escrow balances were applied to the principal balance. The modified balance of $12.0 million matures on June 1, 2016 and the loan is interest only. Our $323.4 million of fixed rate mortgages have interest rates ranging from 2.9% to 7.4% and are due at various maturity dates from June 2016 through June 2026 . Included in fixed rate mortgages at September 30, 2015 and December 31, 2014 were unamortized premium balances related to the fair market value of debt of approximately $7.4 million and $8.9 million , respectively. The fixed rate mortgages are secured by properties that have an approximate net book value of $406.6 million as of September 30, 2015 . We had net borrowings of $115.0 million under our revolving credit facility during the nine months ended September 30, 2015 with a balance of $125.0 million as of September 30, 2015 . After adjusting for outstanding letters of credit issued under our revolving credit facility, not reflected in the accompanying condensed consolidated balance sheets, totaling $3.5 million we had $221.5 million of availability under our revolving credit facility. The interest rate as of September 30, 2015 was 1.6% . Our revolving credit facility, term loans and unsecured notes contain financial covenants relating to total leverage, fixed charge coverage ratio, unencumbered assets, tangible net worth and various other calculations. As of September 30, 2015 , we were in compliance with these covenants. The mortgage loans encumbering our properties, including properties held by our unconsolidated joint ventures, are generally nonrecourse, subject to certain exceptions for which we would be liable for any resulting losses incurred by the lender. These exceptions vary from loan to loan but generally include fraud or a material misrepresentation, misstatement or omission by the borrower, intentional or grossly negligent conduct by the borrower that harms the property or results in a loss to the lender, filing of a bankruptcy petition by the borrower, either directly or indirectly and certain environmental liabilities. In addition, upon the occurrence of certain events, such as fraud or filing of a bankruptcy petition by the borrower, we or our joint ventures would be liable for the entire outstanding balance of the loan, all interest accrued thereon and certain other costs, including penalties and expenses. We have entered into mortgage loans which are secured by multiple properties and contain cross-collateralization and cross-default provisions. Cross-collateralization provisions allow a lender to foreclose on multiple properties in the event that we default under the loan. Cross-default provisions allow a lender to foreclose on the related property in the event a default is declared under another loan. The following table presents scheduled principal payments on mortgages and notes payable as of September 30, 2015 : Year Ending December 31, (In thousands) 2015 (October 1 - December 31) $ 878 2016 35,891 2017 129,096 2018 224,132 2019 5,860 Thereafter 700,649 Subtotal debt 1,096,506 Unamortized premium 7,397 Total debt (including unamortized premium) $ 1,103,903 It is our intent to repay maturing debt using cash, borrowings under our unsecured line of credit, or other sources of financing.

Fair Value

Fair Value	9 Months Ended
	Sep. 30, 2015
Fair Value Disclosures [Abstract]
Fair Value	Fair Value We utilize fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. Derivative instruments (interest rate swaps) are recorded at fair value on a recurring basis. Additionally, we, from time to time, may be required to record other assets at fair value on a nonrecurring basis. As a basis for considering market participant assumptions in fair value measurements, GAAP establishes three fair value levels, based on the markets in which the assets and liabilities are traded and the reliability of the assumptions used to determine fair value. The assessed inputs used in determining any fair value measurement could result in incorrect valuations that could be material to our condensed consolidated financial statements. These levels are: Level 1 Valuation is based upon quoted prices for identical instruments traded in active markets. Level 2 Valuation is based upon prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant assumptions are observable in the market. Level 3 Valuation is generated from model-based techniques that use at least one significant assumption not observable in the market. These unobservable assumptions reflect estimates of assumptions that market participants would use in pricing the assets or liabilities. The following is a description of valuation methodologies used for our assets and liabilities recorded at fair value. Derivative Assets and Liabilities All of our derivative instruments are interest rate swaps for which quoted market prices are not readily available. For those derivatives, we measure fair value on a recurring basis using valuation models that use primarily market observable inputs, such as yield curves. We classify these instruments as Level 2. Refer to Note 7 for additional information on our derivative financial instruments. The table below presents the recorded amount of assets and liabilities measured at fair value on a recurring basis as of September 30, 2015 and December 31, 2014. Total Balance Sheet Location Fair Value Level 1 Level 2 Level 3 2015 (In thousands) Derivative liabilities - interest rate swaps Other liabilities $ (4,145 ) $ — $ (4,145 ) $ — 2014 Derivative assets - interest rate swaps Other assets $ 537 $ — $ 537 $ — Derivative liabilities - interest rate swaps Other liabilities $ (2,705 ) $ — $ (2,705 ) $ — The carrying values of cash and cash equivalents, restricted cash, receivables and accounts payable and accrued liabilities are reasonable estimates of their fair values because of the short maturity of these financial instruments. We estimated the fair value of our debt based on our incremental borrowing rates for similar types of borrowing arrangements with the same remaining maturity and on the discounted estimated future cash payments to be made for other debt. The discount rates used approximate current lending rates for loans or groups of loans with similar maturities and credit quality, assume the debt is outstanding through maturity and consider the debt’s collateral (if applicable). Since such amounts are estimates that are based on limited available market information for similar transactions, there can be no assurance that the disclosed value of any financial instrument could be realized by immediate settlement of the instrument. Fixed rate debt (including variable rate debt swapped to fixed through derivatives) with carrying values of $943.4 million and $874.7 million as of September 30, 2015 and December 31, 2014 , respectively, have fair values of approximately $971.0 million and $900.9 million , respectively. Variable rate debt’s fair value is estimated to be the carrying values of $153.1 million and $38.1 million as of September 30, 2015 and December 31, 2014 , respectively. The following is a description of valuation methodologies used for our assets and liabilities recorded at fair value on a nonrecurring basis: Net Real Estate Our net investment in real estate, including any identifiable intangible assets, is subject to impairment testing on a nonrecurring basis. To estimate fair value, we use discounted cash flow models that include assumptions of the discount rates that market participants would use in pricing the asset. To the extent impairment has occurred, we charge to expense the excess of the carrying value of the property over its estimated fair value. We classify impaired real estate assets as nonrecurring Level 3. The table below presents the recorded amount of assets at the time they were marked to fair value during nine months ended September 30, 2015 on a nonrecurring basis. We did not have any material liabilities that were required to be measured at fair value on a nonrecurring basis during the period. Assets Total Fair Value Level 1 Level 2 Level 3 Total Impairment (In thousands) Land available for development or sale $ 7,501 $ — $ — $ 7,501 $ (2,521 ) Total $ 7,501 $ — $ — $ 7,501 $ (2,521 ) Equity Investments in Unconsolidated Joint Ventures Our equity investments in unconsolidated joint ventures are subject to impairment testing on a nonrecurring basis if there is an indication that a decrease in the value of our investment has occurred that is other-than-temporary. To estimate the fair value of properties held by unconsolidated entities, we use cash flow models, discount rates, and capitalization rates based upon assumptions of the rates that market participants would use in pricing the assets. To the extent other-than-temporary impairment has occurred, we charge to expense the excess of the carrying value of the equity investment over its estimated fair value. We classify other-than-temporarily impaired equity investments in unconsolidated entities as nonrecurring Level 3.

Derivative Financial Instrument

Derivative Financial Instruments	9 Months Ended
	Sep. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	Derivative Financial Instruments We utilize interest rate swap agreements for risk management purposes to reduce the impact of changes in interest rates on our variable rate debt. On the date we enter into an interest rate swap, the derivative is designated as a hedge against the variability of cash flows that are to be paid in connection with a recognized liability. Subsequent changes in the fair value of a derivative designated as a cash flow hedge that is determined to be highly effective are recorded in other comprehensive income (“OCI”) until earnings are affected by the variability of cash flows of the hedged transaction. The differential between fixed and variable rates to be paid or received is accrued, as interest rates change, and recognized currently as interest expense in the condensed consolidated statements of operations. We assess effectiveness of our cash flow hedges both at inception and on an ongoing basis. To the extent the Company's cash flow hedges become ineffective, for example, critical terms of the hedging instrument and the debt do not perfectly match such as notional amounts, settlement dates, reset dates and calculation period, changes in the fair values are immediately included in other income and expenses. At September 30, 2015 , we had seven interest rate swap agreements with an aggregate notional amount of $210.0 million that were designated as cash flow hedges. The agreements provided for swapping one-month LIBOR to fixed interest rates ranging from 1.2% to 2.2% on $210.0 million of unsecured term loans and have expirations ranging from April 2016 to May 2020 . The following table summarizes the notional values and fair values of our derivative financial instruments as of September 30, 2015 : Hedge Notional Fixed Fair Expiration Underlying Debt Type Value Rate Value Date (In thousands) (In thousands) Derivative Liabilities Unsecured term loan facility Cash Flow $ 75,000 1.2175 % $ (406 ) 04/2016 Unsecured term loan facility Cash Flow 30,000 2.0480 % (1,071 ) 10/2018 Unsecured term loan facility Cash Flow 25,000 1.8500 % (740 ) 10/2018 Unsecured term loan facility Cash Flow 5,000 1.8400 % (147 ) 10/2018 Unsecured term loan facility Cash Flow 15,000 2.1500 % (666 ) 05/2020 Unsecured term loan facility Cash Flow 10,000 2.1500 % (444 ) 05/2020 Unsecured term loan facility Cash Flow 50,000 1.4600 % (671 ) 05/2020 $ 210,000 $ (4,145 ) The effect of derivative financial instruments on our condensed consolidated statements of operations for the nine months ended September 30, 2015 and 2014 is summarized as follows: Amount of Gain (Loss) Recognized in OCI on Derivative (Effective Portion) Location of Loss Reclassified from Accumulated OCI into Income (Effective Portion) Amount of Loss Reclassified from Accumulated OCI into Income (Effective Portion) Derivatives in Cash Flow Hedging Relationship Nine Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 (In thousands) (In thousands) Interest rate contracts - assets $ (111 ) $ (153 ) Interest Expense $ (425 ) $ (876 ) Interest rate contracts - liabilities 395 1,613 Interest Expense (1,835 ) (1,424 ) Total $ 284 $ 1,460 Total $ (2,260 ) $ (2,300 )

Earnings Per Common Share

Earnings Per Common Share	9 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
Earnings Per Common Share	Earnings Per Common Share The following table sets forth the computation of basic and diluted earnings per share (“EPS”): Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 (In thousands, except per share data) Net income $ 34,606 $ 6,263 $ 51,839 $ 10,144 Net income attributable to noncontrolling interest (940 ) (180 ) (1,416 ) (303 ) Allocation of income to restricted share awards (1,361 ) (65 ) (250 ) (162 ) Income attributable to RPT $ 32,305 $ 6,018 $ 50,173 $ 9,679 Preferred share dividends (1,675 ) (1,813 ) (5,162 ) (5,438 ) Preferred share conversion costs — — (500 ) — Net income available to common shareholders - Basic $ 30,630 $ 4,205 $ 44,511 $ 4,241 Addback preferred shares for dilution (1) 1,675 — — — Net income available to common shareholders - Diluted $ 32,305 $ 4,205 $ 44,511 $ 4,241 Weighted average shares outstanding, Basic 79,162 74,840 78,742 70,283 Stock options and restricted stock awards using the treasury method 184 240 197 237 Dilutive effect of securities (1) 6,535 — — — Weighted average shares outstanding, Diluted (1) 85,881 75,080 78,939 70,520 Income per common share, Basic $ 0.39 $ 0.06 $ 0.57 $ 0.06 Income per common share, Diluted $ 0.38 $ 0.06 $ 0.57 $ 0.06 (1) The assumed conversion of preferred shares is dilutive for the three months ended September 30, 2015. The preferred shares are anti-dilutive for all other periods presented and accordingly, have been excluded from the weighted average common shares used to compute diluted EPS for those periods.

Share-based Compensation Plans

Share-based Compensation Plans	9 Months Ended
	Sep. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-based Compensation Plans	Share-based Compensation Plans As of September 30, 2015 , we have one share-based compensation plan in effect. The 2012 Omnibus Long-Term Incentive Plan (“2012 LTIP”) under which our compensation committee may grant, subject to the Company’s performance conditions as specified by the compensation committee, restricted shares, restricted share units, options and other awards to trustees, officers and other key employees. The 2012 LTIP allows us to issue up to 2,000,000 shares of our common stock, units or stock options, of which 1,597,723 remained available for issuance at September 30, 2015 . As of September 30, 2015 , we had 298,335 unvested share awards granted under the 2012 LTIP and other plans which terminated when the 2012 LTIP became effective. These awards have various expiration dates through May 2020. During the nine months ended September 30, 2015 , we had the following activity: • granted 150,817 shares of service-based restricted stock that vest over five years. The service-based awards were valued based on our closing stock price as of the grant date and the expense is recognized on a graded vesting basis; and • granted performance-based cash units that are earned subject to a future performance measurement based on a three -year shareholder return peer comparison (“TSR Grants”). If the performance criterion is met, the actual value of the units earned will be determined and 50% of the award will be paid in cash immediately while the balance will be paid in cash the following year. Pursuant to ASC 718 – Stock Compensation, we determine the grant date fair value of TSR Grants, and any subsequent re-measurements, based upon a Monte Carlo simulation model. We will recognize the compensation expense ratably over the requisite service period. We are required to re-value the cash awards at the end of each quarter using the same methodology as was used at the initial grant date and adjust the compensation expense accordingly. If at the end of the three -year measurement period the performance criteria are not met, compensation expense previously recognized would be reversed. During the quarter ended September 30, 2015, we recorded a $1.0 million decrease in costs associated with our long-term incentive plans based on our stock price performance relative to a group of our peers during that measurement period. Compensation expense related to the cash awards was a benefit of $0.5 million for the nine months ended September 30, 2015 and $1.6 million of expense for the nine months ended September 30, 2014 . We recognized total share-based compensation expense of $1.3 million and $1.6 million for the nine months ended September 30, 2015 and September 30, 2014 , respectively. As of September 30, 2015 , we had $4.1 million of total unrecognized compensation expense related to unvested restricted shares and performance based equity and cash awards. This expense is expected to be recognized over a weighted-average period of 4.6 years.

Taxes

Taxes	9 Months Ended
	Sep. 30, 2015
Income Tax Disclosure [Abstract]
Taxes	Taxes Income Taxes We conduct our operations with the intent of meeting the requirements applicable to a REIT under sections 856 through 860 of the Internal Revenue Code. In order to maintain our qualification as a REIT, we are required to distribute annually at least 90% of our REIT taxable income, excluding net capital gain, to our shareholders. As long as we qualify as a REIT, we will generally not be liable for federal corporate income taxes. Certain of our operations, including property management and asset management, as well as ownership of certain land, are conducted through our Taxable REIT Subsidiaries (“TRSs”) which allows us to provide certain services and conduct certain activities that are not generally considered as qualifying REIT activities. Deferred tax assets and liabilities reflect the impact of temporary differences between the amounts of assets and liabilities for financial reporting purposes and the bases of such assets and liabilities as measured by tax laws. Deferred tax assets are reduced by a valuation allowance to the amount where realization is more likely than not assured after considering all available evidence, including expected taxable earnings and potential tax planning strategies. Our temporary differences primarily relate to deferred compensation, depreciation, land basis differences, and net operating loss carry forwards. As of September 30, 2015 , we had a federal and state deferred tax asset of $10.7 million and a valuation allowance of $10.7 million . Our deferred tax assets, such as net operating losses and land basis differences, are reduced by an offsetting valuation allowance where there is uncertainty regarding their realizability. We believe that it is more likely than not that the results of future operations will not generate sufficient taxable income to recognize the deferred tax assets. These future operations are primarily dependent upon the profitability of our TRSs, including the timing and amounts of gains on land sales, and other factors affecting the results of operations of the TRSs. If in the future we are able to conclude it is more likely than not that we will realize a future benefit from a deferred tax asset, we will reduce the related valuation allowance by the appropriate amount. The first time this occurs, it will result in a net deferred tax asset on our balance sheet and an income tax benefit of equal magnitude in our statement of operations in the period we make the determination. We recorded income tax provisions of approximately $306,000 and $18,000 for the nine months ended September 30, 2015 and 2014 , respectively. Sales Taxes We collect various taxes from tenants and remit these amounts, on a net basis, to the applicable taxing authorities.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Construction Costs In connection with the development and expansion of various shopping centers as of September 30, 2015 , we had entered into agreements for construction costs of approximately $13.5 million . Litigation We are currently involved in certain litigation arising in the ordinary course of business; however, we do not believe that any of this litigation will have a material effect on our consolidated financial statements. Leases Operating Leases We lease office space for our corporate headquarters under an operating lease that expires in August 2019. Capital Leases We have a ground lease at Buttermilk Towne Center which we have recorded as a capital lease that expires in December 2032. We recognized rent and interest expense related to the operating and capital leases of $0.5 million and $0.7 million for the the nine months ended September 30, 2015 and 2014 , respectively.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2015
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events We have evaluated subsequent events through the date that the condensed consolidated financial statements were issued. Subsequent to September 30, 2015 we completed the disposition of our 20% interest in a joint venture asset. Our share of the proceeds, net of the buyers assumption of debt, was approximately $5.7 million .

Organization and Basis of Pre20

Organization and Basis of Presentations (Policies)	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Organization	Organization Ramco-Gershenson Properties Trust, together with its subsidiaries (the “Company” or "RPT"), is a real estate investment trust (“REIT”) engaged in the business of owning, developing, redeveloping, acquiring, managing and leasing large multi-anchored shopping centers primarily in a dozen of the largest metropolitan markets in the United States. As of September 30, 2015 , our property portfolio consists of 72 wholly owned shopping centers and one office building comprising approximately 15.5 million square feet. We also have ownership interests, ranging from 7% to 30% , in four joint ventures that each own a single shopping center. In addition, we own interests in several land parcels that are available for development or sale. Most of our properties are anchored by supermarkets and/or national chain stores. The Company’s credit risk, therefore, is concentrated in the retail industry.
Basis of Presentation	Basis of Presentation The accompanying condensed consolidated financial statements include the accounts of the Company and our majority owned subsidiary, the Operating Partnership, Ramco-Gershenson Properties, L.P. (the "OP") ( 97.3% and 97.2% owned by the Company at September 30, 2015 and December 31, 2014 , respectively), and all wholly-owned subsidiaries, including entities in which we have a controlling financial interest. We have elected to be a REIT for federal income tax purposes. All intercompany balances and transactions have been eliminated in consolidation. The information furnished is unaudited and reflects all adjustments which are, in the opinion of management, necessary to reflect a fair statement of the results for the interim periods presented, and all such adjustments are of a normal recurring nature. These condensed consolidated financial statements should be read in conjunction with our Annual Report on Form 10-K for the year ended December 31, 2014 . The preparation of our unaudited financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management of the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the unaudited financial statements and the reported amounts of revenues and expenses during the reporting period. We base our estimates on historical experience and on various other assumptions that we believe to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and reported amounts that are not readily apparent from other sources. Actual results could differ from those estimates.
Reclassifications	Reclassifications and Revisions Certain reclassifications of prior period amounts have been made in the condensed consolidated financial statements and footnotes in order to conform to the current presentation. In previously filed quarterly reports, the Company erroneously calculated comprehensive income attributable to noncontrolling interest. Accordingly, the Consolidated Statements of Comprehensive Income have been revised. The revision resulted in a decrease to previously reported comprehensive income attributable to RPT as follows: Three Months Ended Nine Months Ended September 30, 2014 (in thousands) Comprehensive income attributable to non controlling interest as previously reported $ (38 ) $ 29 Comprehensive income attributable to non controlling interest as revised $ (218 ) $ (274 ) Comprehensive income attributable to RPT as previously reported $ 7,461 $ 9,333 Comprehensive income attributable to RPT as revised $ 7,281 $ 9,030 There was no impact to the Condensed Consolidated Balance Sheets, Condensed Consolidated Statements of Operations and Condensed Consolidated Statements of Shareholders’ Equity or to the Company’s cash position.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In April 2015, the Financial Accounting Standards Board ("FASB") updated Accounting Standards Codification ("ASC") Topic 835 "Interest" with Accounting Standards Update ("ASU") No. 2015-03, "Interest - Imputation of Interest - Simplifying the Presentation of Debt Issuance Costs". ASU 2015-03 modifies the treatment of debt issuance costs from a deferred charge to a deduction of the carrying value of the financial liability. ASU 2015-03 is effective for periods beginning after December 15, 2015, with early adoption permitted and retrospective application. In August 2015, the FASB issued an amendment to ASU 2015-03 pursuant to an SEC staff announcement which addresses the presentation and subsequent measurement of debt issuance costs associated with line of credit arrangements. We are currently assessing the impact the adoption of ASU 2015-03 will have on our consolidated financial statements. In February 2015, the FASB updated ASC Topic 810 "Consolidation" with ASU 2015-02, "Amendments to the Consolidation Analysis". ASU 2015-02 affects reporting entities that are required to evaluate whether they should consolidate certain legal entities. ASU 2015-02 modifies the evaluation of whether limited partnerships and similar legal entities are Variable Interest Entities ("VIEs") or voting interest entities, eliminates the presumption that a general partner should consolidate a limited partnership and affects the consolidation analysis of reporting entities that are involved in VIEs, particularly those that have fee arrangements and related party relationships. ASU 2015-02 is effective for annual reporting periods (including interim periods within those periods), beginning after December 15, 2015. Early adoption is permitted. We believe the adoption of this guidance will not have a material effect on our consolidated financial statements. In May 2014, the FASB issued ASU 2014-09 "Revenue from Contract with Customers" as a new Topic, ASC Topic 606. The objective of ASU 2014-09 is to establish a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and it will supersede most of the existing revenue recognition guidance, including industry-specific guidance. The core principle is that a company should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In applying the new standard, companies will perform a five-step analysis of transactions to determine when and how revenue is recognized. ASU 2014-09 applies to all contracts with customers except those that are within the scope of other topics in the FASB ASC. Adoption shall be applied using either a full retrospective or modified retrospective approach. In July, the FASB issued a one year deferral of the effective date making it effective for annual reporting periods (including interim periods within those periods) beginning after December 15, 2017 while also providing for early adoption, but not before the original effective date of December 15, 2016. We are currently assessing the impact the adoption of this standard may have on our consolidated financial statements.

Property Acquisitions and Dis21

Property Acquisitions and Dispositions (Tables)	9 Months Ended
	Sep. 30, 2015
Business Combinations [Abstract]
Summary of Acquisition Activity	The following table provides a summary of our acquisition activity for the nine months ended September 30, 2015 : Gross Property Name Location GLA Acreage Date Purchase Assumed (In thousands) (In thousands) Millennium Park Livonia, MI 273 N/A 08/11/15 $ 47,000 $ — Spring Meadows - Kroger Building Holland, OH 51 N/A 08/06/15 4,110 — Ramco 450 Portfolio - six Income Producing Properties GA, IL, OH & MD 1,126 N/A 07/21/15 191,090 60,048 Jackson Crossing Shops Jackson, MI 15 N/A 06/22/15 5,000 — Petco at West Oaks Novi, MI 26 N/A 06/10/15 5,500 — Total consolidated income producing acquisitions 1,491 $ 252,700 $ 60,048 Gaines Marketplace Gaines Township, MI N/A 1.9 02/12/15 $ 1,000 $ — Lakeland Park Center Lakeland, FL N/A 1.6 01/23/15 475 — Total consolidated land / outparcel acquisitions 3.5 $ 1,475 $ — Total Acquisitions 1,491 3.5 $ 254,175 $ 60,048
Summary of Purchase Price Allocation	Some of the purchase price allocations are preliminary and may be adjusted as final costs and valuations are determined: Allocated Fair Value (In thousands) Land $ 50,367 Buildings and improvements 183,651 Above market leases 1,014 Lease origination costs 32,683 Other assets 4,256 Below market leases (16,616 ) Premium for above market interest rates on assumed debt (1,180 ) Total purchase price allocated $ 254,175 Mortgages notes assumed (60,048 ) RPT's fair value of existing ownership (1) (41,204 ) Net assets acquired $ 152,923 (1) We acquired our partner's 80% interest in six properties owned by the Ramco 450 Venture LLC ("Ramco 450") and our partner's 70% interest in Millennium Park owned by the Ramco/Lion Venture LP ("RLV").
Summary of Revenue and Income from Acquisitions	Total revenue and net income for the 2015 acquisitions included in our condensed consolidated statement of operations for the three and nine months ended September 30, 2015 were as follows: Three Months Ended Nine Months Ended (In thousands) Total revenue from 2015 acquisitions $ 4,763 $ 4,812 Net income from 2015 acquisitions $ 437 $ 476
Summary of Proforma Information	If the 2015 Acquisitions had occurred on January 1, 2014, our consolidated revenues and net income for the three and nine months ended September 30, 2015 and 2014 would have been as follows: Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 (In thousands) Consolidated revenue $ 65,619 $ 61,052 $ 196,922 $ 173,418 Consolidated net income available to common shareholders $ 32,219 $ 4,960 $ 46,212 $ 6,620
Summary of Disposal Activity	The following table provides a summary of our disposition activity for the nine months ended September 30, 2015 : Gross Property Name Location GLA Acreage Date Sold Sales Price Debt Repaid Gain (Loss) on Sale (In thousands) (In thousands) Conyers Crossing Conyers, GA 170 1.3 09/30/15 $ 9,750 $ — $ 4,536 Total income producing dispositions 170 1.3 $ 9,750 $ — $ 4,536 The Town Center at Aquia - Commercial / Residential Land Stafford, VA 35 32.8 05/29/15 $ 13,350 $ — $ 289 Taylors Square - Outparcel Taylors, SC N/A 0.6 04/22/15 250 — (16 ) Target and Shell Oil Parcels Gaines Township, MI N/A 11.3 02/12/15 5,150 — 3,196 Total land / outparcel dispositions 35 44.7 $ 18,750 $ — $ 3,469 Total consolidated dispositions 205 46.0 $ 28,500 $ — $ 8,005 The following table provides a summary of disposition activity, by our unconsolidated joint ventures, for the nine months ended September 30, 2015 Gross Property Name Location GLA Ownership % Date Sales Debt Gain (In thousands) (In thousands) Millennium Park Livonia, MI 273 30% 08/11/15 $ 47,000 $ 29,658 $ 1,776 Ramco 450 Portfolio - Seven Income Producing Properties FL, GA, IL, OH, & MD 1,440 20% 07/21/15 291,908 117,959 65,566 Village of Oriole Plaza Delray Beach, FL 156 30% 03/24/15 27,500 — 7,463 Total unconsolidated joint venture dispositions 1,869 $ 366,408 $ 147,617 $ 74,805

Equity Investments in Unconso22

Equity Investments in Unconsolidated Joint Ventures (Tables)	9 Months Ended
	Sep. 30, 2015
Equity Method Investments and Joint Ventures [Abstract]
Summary of Combined Financial Information for Unconsolidated Joint Ventures, Balance Sheets	The combined condensed financial information for our unconsolidated joint ventures is summarized as follows: Balance Sheets September 30, 2015 December 31, 2014 (In thousands) ASSETS Income producing properties, net $ 112,306 $ 394,740 Cash, accounts receivable and other assets 7,358 23,102 Total Assets $ 119,664 $ 417,842 LIABILITIES AND OWNERS' EQUITY Mortgage notes payable (1) $ 22,000 $ 170,194 Other liabilities 2,639 7,625 Owners' equity 95,025 240,023 Total Liabilities and Owners' Equity $ 119,664 $ 417,842 RPT's equity investments in unconsolidated joint ventures $ 4,236 $ 28,733 (1) Balance as of September 30, 2015 relates to the Chester Springs Shopping Center mortgage with an interest rate of 1.9% . Debt is non-recourse to the venture, subject to carve-outs customary to such types of mortgage financing. Subsequent to September 30, 2015 , Chester Springs was sold and the debt was assumed by the buyer. Refer to Note 12 for additional information.
Summary of Combined Financial Information for Unconsolidated Entities, Statements of Operations	Three Months Ended September 30, Nine Months Ended September 30, Statements of Operations 2015 2014 2015 2014 (In thousands) Total revenue $ 4,603 $ 10,425 $ 25,513 $ 31,927 Total expenses (1) 3,035 7,012 17,698 31,973 Income (loss) before other income and expense 1,568 3,413 7,815 (46 ) Gain on sale of real estate (2) 67,342 — 74,805 740 Interest expense (537 ) (1,820 ) (4,131 ) (5,511 ) Gain on extinguishment of debt — — — 529 Amortization of deferred financing fees (39 ) (77 ) (187 ) (229 ) Net income (loss) $ 68,334 $ 1,516 $ 78,302 $ (4,517 ) RPT's share of earnings (loss) from unconsolidated joint ventures $ 13,977 $ 455 $ 16,972 $ (336 ) (1) The higher expenses for the nine months ended September 30, 2014 were due to the demolition of a portion of a center for redevelopment and the commensurate acceleration of depreciation in that period. (2) See Dispositions below for details of the transaction.
Summary of Disposal Activity	The following table provides a summary of our disposition activity for the nine months ended September 30, 2015 : Gross Property Name Location GLA Acreage Date Sold Sales Price Debt Repaid Gain (Loss) on Sale (In thousands) (In thousands) Conyers Crossing Conyers, GA 170 1.3 09/30/15 $ 9,750 $ — $ 4,536 Total income producing dispositions 170 1.3 $ 9,750 $ — $ 4,536 The Town Center at Aquia - Commercial / Residential Land Stafford, VA 35 32.8 05/29/15 $ 13,350 $ — $ 289 Taylors Square - Outparcel Taylors, SC N/A 0.6 04/22/15 250 — (16 ) Target and Shell Oil Parcels Gaines Township, MI N/A 11.3 02/12/15 5,150 — 3,196 Total land / outparcel dispositions 35 44.7 $ 18,750 $ — $ 3,469 Total consolidated dispositions 205 46.0 $ 28,500 $ — $ 8,005 The following table provides a summary of disposition activity, by our unconsolidated joint ventures, for the nine months ended September 30, 2015 Gross Property Name Location GLA Ownership % Date Sales Debt Gain (In thousands) (In thousands) Millennium Park Livonia, MI 273 30% 08/11/15 $ 47,000 $ 29,658 $ 1,776 Ramco 450 Portfolio - Seven Income Producing Properties FL, GA, IL, OH, & MD 1,440 20% 07/21/15 291,908 117,959 65,566 Village of Oriole Plaza Delray Beach, FL 156 30% 03/24/15 27,500 — 7,463 Total unconsolidated joint venture dispositions 1,869 $ 366,408 $ 147,617 $ 74,805
Information of Fees Earned	The following table provides information for our fees earned which are reported in our condensed consolidated statements of operations: Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 (In thousands) Management fees $ 251 $ 379 $ 1,033 $ 1,145 Leasing fees 30 160 238 266 Construction fees 31 43 151 117 Total $ 312 $ 582 $ 1,422 $ 1,528

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
Summary of Mortgages, Notes Payable and Capital Lease Obligation	The following table summarizes our mortgages and notes payable and capital lease obligation as of September 30, 2015 and December 31, 2014 : Notes Payable September 30, December 31, (In thousands) Senior unsecured notes $ 410,000 $ 310,000 Unsecured term loan facilities 210,000 210,000 Fixed rate mortgages 323,381 354,714 Unsecured revolving credit facility 125,000 10,000 Junior subordinated notes 28,125 28,125 1,096,506 912,839 Unamortized premium 7,397 8,866 Total notes payable $ 1,103,903 $ 921,705 Capital lease obligation $ 1,148 $ 1,828
Scheduled Principal Payments on Mortgages and Notes Payable	The following table presents scheduled principal payments on mortgages and notes payable as of September 30, 2015 : Year Ending December 31, (In thousands) 2015 (October 1 - December 31) $ 878 2016 35,891 2017 129,096 2018 224,132 2019 5,860 Thereafter 700,649 Subtotal debt 1,096,506 Unamortized premium 7,397 Total debt (including unamortized premium) $ 1,103,903

Fair Value (Tables)

Fair Value (Tables)	9 Months Ended
	Sep. 30, 2015
Fair Value Disclosures [Abstract]
Recorded Amount of Assets and Liabilities Measured at Fair Value on Recurring Basis	The table below presents the recorded amount of assets and liabilities measured at fair value on a recurring basis as of September 30, 2015 and December 31, 2014. Total Balance Sheet Location Fair Value Level 1 Level 2 Level 3 2015 (In thousands) Derivative liabilities - interest rate swaps Other liabilities $ (4,145 ) $ — $ (4,145 ) $ — 2014 Derivative assets - interest rate swaps Other assets $ 537 $ — $ 537 $ — Derivative liabilities - interest rate swaps Other liabilities $ (2,705 ) $ — $ (2,705 ) $ —
Fair Value, Assets Measured on Recurring and Nonrecurring Basis	The table below presents the recorded amount of assets at the time they were marked to fair value during nine months ended September 30, 2015 on a nonrecurring basis. We did not have any material liabilities that were required to be measured at fair value on a nonrecurring basis during the period. Assets Total Fair Value Level 1 Level 2 Level 3 Total Impairment (In thousands) Land available for development or sale $ 7,501 $ — $ — $ 7,501 $ (2,521 ) Total $ 7,501 $ — $ — $ 7,501 $ (2,521 )

Derivative Financial Instrume25

Derivative Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Summary of Notional Values and Fair Values of Derivative Financial Instruments	The following table summarizes the notional values and fair values of our derivative financial instruments as of September 30, 2015 : Hedge Notional Fixed Fair Expiration Underlying Debt Type Value Rate Value Date (In thousands) (In thousands) Derivative Liabilities Unsecured term loan facility Cash Flow $ 75,000 1.2175 % $ (406 ) 04/2016 Unsecured term loan facility Cash Flow 30,000 2.0480 % (1,071 ) 10/2018 Unsecured term loan facility Cash Flow 25,000 1.8500 % (740 ) 10/2018 Unsecured term loan facility Cash Flow 5,000 1.8400 % (147 ) 10/2018 Unsecured term loan facility Cash Flow 15,000 2.1500 % (666 ) 05/2020 Unsecured term loan facility Cash Flow 10,000 2.1500 % (444 ) 05/2020 Unsecured term loan facility Cash Flow 50,000 1.4600 % (671 ) 05/2020 $ 210,000 $ (4,145 )
Summary of Effect of Derivative Financial Instruments on Condensed Consolidated Statements of Operations	The effect of derivative financial instruments on our condensed consolidated statements of operations for the nine months ended September 30, 2015 and 2014 is summarized as follows: Amount of Gain (Loss) Recognized in OCI on Derivative (Effective Portion) Location of Loss Reclassified from Accumulated OCI into Income (Effective Portion) Amount of Loss Reclassified from Accumulated OCI into Income (Effective Portion) Derivatives in Cash Flow Hedging Relationship Nine Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 (In thousands) (In thousands) Interest rate contracts - assets $ (111 ) $ (153 ) Interest Expense $ (425 ) $ (876 ) Interest rate contracts - liabilities 395 1,613 Interest Expense (1,835 ) (1,424 ) Total $ 284 $ 1,460 Total $ (2,260 ) $ (2,300 )

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	9 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
Computation of Basic and Diluted Earnings Per Share	The following table sets forth the computation of basic and diluted earnings per share (“EPS”): Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 (In thousands, except per share data) Net income $ 34,606 $ 6,263 $ 51,839 $ 10,144 Net income attributable to noncontrolling interest (940 ) (180 ) (1,416 ) (303 ) Allocation of income to restricted share awards (1,361 ) (65 ) (250 ) (162 ) Income attributable to RPT $ 32,305 $ 6,018 $ 50,173 $ 9,679 Preferred share dividends (1,675 ) (1,813 ) (5,162 ) (5,438 ) Preferred share conversion costs — — (500 ) — Net income available to common shareholders - Basic $ 30,630 $ 4,205 $ 44,511 $ 4,241 Addback preferred shares for dilution (1) 1,675 — — — Net income available to common shareholders - Diluted $ 32,305 $ 4,205 $ 44,511 $ 4,241 Weighted average shares outstanding, Basic 79,162 74,840 78,742 70,283 Stock options and restricted stock awards using the treasury method 184 240 197 237 Dilutive effect of securities (1) 6,535 — — — Weighted average shares outstanding, Diluted (1) 85,881 75,080 78,939 70,520 Income per common share, Basic $ 0.39 $ 0.06 $ 0.57 $ 0.06 Income per common share, Diluted $ 0.38 $ 0.06 $ 0.57 $ 0.06 (1) The assumed conversion of preferred shares is dilutive for the three months ended September 30, 2015. The preferred shares are anti-dilutive for all other periods presented and accordingly, have been excluded from the weighted average common shares used to compute diluted EPS for those periods.

Organization and Basis of Pre27

Organization and Basis of Presentations - Additional Information (Detail) $ in Thousands, ft² in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2015USD ($)ft²PartnershipUnitContractProperty	Sep. 30, 2014USD ($)	Sep. 30, 2015USD ($)ft²PartnershipUnitContractProperty	Sep. 30, 2014USD ($)	Dec. 31, 2014
Basis of Presentation [Line Items]
Area of an real estate property | ft²	15.5		15.5
Number of Joint Ventures | Contract	4		4
Ownership interest in Ramco-Gershenson Properties, L. P.			97.30%		97.20%
Loss attributable to noncontrolling interest omission	$ (895)	$ (218)	$ (1,362)	$ (274)
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	$ 32,050	7,281	$ 48,501	9,030
Shopping Centers
Basis of Presentation [Line Items]
Number of real estate properties owned and managed | Property	72		72
Office building
Basis of Presentation [Line Items]
Number of real estate properties owned and managed | Property	1		1
Smaller joint ventures
Basis of Presentation [Line Items]
Number of Joint Ventures | PartnershipUnit	4		4
Minimum | Smaller joint ventures
Basis of Presentation [Line Items]
Percentage of ownership			7.00%
Maximum | Smaller joint ventures
Basis of Presentation [Line Items]
Percentage of ownership			30.00%
Noncontrolling Interest Omission
Basis of Presentation [Line Items]
Loss attributable to noncontrolling interest omission		38		(29)
Comprehensive Income (Loss), Net of Tax, Attributable to Parent		$ 7,461		$ 9,333

Real Estate - Additional Inform

Real Estate - Additional Information (Detail) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015USD ($)Property	Sep. 30, 2014USD ($)	Sep. 30, 2015USD ($)PropertyRedevelopment_Project	Sep. 30, 2014USD ($)	Dec. 31, 2014USD ($)
Real Estate [Abstract]
Number of office buildings | Property	1		1
Land held for development or sale	$ 39,700		$ 39,700		$ 48,900
Constructions in progress	19,700		$ 19,700		$ 25,700
Number of redevelopment projects completed | Redevelopment_Project			2
Provision for impairment	$ 0	$ 0	$ 2,521	$ 0

Property Acquisitions and Dis29

Property Acquisitions and Dispositions - Acquisitions (Details) ft² in Thousands, $ in Thousands	9 Months Ended
	Sep. 30, 2015USD ($)aft²
Income Producing Property Acquisition
Business Acquisition [Line Items]
Area of Real Estate Property | ft²	1,491
Purchase Price	$ 252,700
Assumed Debt	$ 60,048
Income Producing Property Acquisition | Millennium Park
Business Acquisition [Line Items]
Area of Real Estate Property | ft²	273
Date Acquired	Aug. 11, 2015
Purchase Price	$ 47,000
Assumed Debt	$ 0
Income Producing Property Acquisition | Spring Meadows
Business Acquisition [Line Items]
Area of Real Estate Property | ft²	51
Date Acquired	Aug. 6, 2015
Purchase Price	$ 4,110
Assumed Debt	$ 0
Income Producing Property Acquisition | Ramco 450
Business Acquisition [Line Items]
Area of Real Estate Property | ft²	1,126
Date Acquired	Jul. 21, 2015
Purchase Price	$ 191,090
Assumed Debt	$ 60,048
Location	GA, IL, OH & MD
Income Producing Property Acquisition | Jackson Crossing Shops
Business Acquisition [Line Items]
Area of Real Estate Property | ft²	15
Date Acquired	Jun. 22, 2015
Purchase Price	$ 5,000
Assumed Debt	$ 0
Location	Jackson, MI
Income Producing Property Acquisition | Petco at West Lakes
Business Acquisition [Line Items]
Area of Real Estate Property | ft²	26
Date Acquired	Jun. 10, 2015
Purchase Price	$ 5,500
Assumed Debt	$ 0
Location	Novi, MI
Land and Outparcel Acquisition
Business Acquisition [Line Items]
Purchase Price	$ 1,475
Assumed Debt	$ 0
Acreage | a	3.5
Land and Outparcel Acquisition | Gaines Marketplace
Business Acquisition [Line Items]
Date Acquired	Feb. 12, 2015
Purchase Price	$ 1,000
Assumed Debt	$ 0
Location	Gaines Township, MI
Acreage | a	1.9
Land and Outparcel Acquisition | Lakeland Park Center
Business Acquisition [Line Items]
Date Acquired	Jan. 23, 2015
Purchase Price	$ 475
Assumed Debt	$ 0
Location	Lakeland, FL
Acreage | a	1.6
Income Producing Property and Land and Outparcel Acquisition
Business Acquisition [Line Items]
Area of Real Estate Property | ft²	1,491
Purchase Price	$ 254,175
Assumed Debt	$ 60,048
Acreage | a	3.5

Property Acquisitions and Dis30

Property Acquisitions and Dispositions - Purchase Price Allocation (Details) - Income Producing Property Acquisition $ in Thousands	9 Months Ended
	Sep. 30, 2015USD ($)
Business Acquisition [Line Items]
Land	$ 50,367
Buildings and improvements	183,651
Above market leases	1,014
Lease origination costs	32,683
Other assets	4,256
Below market leases	(16,616)
Premium for above market interest rates on assumed debt	(1,180)
Total purchase price allocated	254,175
Mortgages notes assumed	(60,048)
RPT's fair value of existing ownership	(41,204)
Net assets acquired	$ 152,923
Ramco 450
Business Acquisition [Line Items]
Partner's interest acquired	80.00%
Millennium Park
Business Acquisition [Line Items]
Partner's interest acquired	70.00%

Property Acquisitions and Dis31

Property Acquisitions and Dispositions Property Acquisitions and Dispositions - Revenue and Net Income Information (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2015
Business Combinations [Abstract]
Total revenue from 2015 acquisitions	$ 4,763	$ 4,812
Net income from 2015 acquisitions	$ 437	$ 476

Property Acquisitions and Dis32

Property Acquisitions and Dispositions Property Acquisitions and Dispositions - Pro Forma Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Business Combinations [Abstract]
Consolidated revenue	$ 65,619	$ 61,052	$ 196,922	$ 173,418
Consolidated net income available to common shareholders	$ 32,219	$ 4,960	$ 46,212	$ 6,620

Property Acquisitions and Dis33

Property Acquisitions and Dispositions Property Acquisitions and Dispositions - Dispositions (Details) ft² in Thousands, $ in Thousands	9 Months Ended
	Sep. 30, 2015USD ($)aft²
Land And Outparcel Disposition
Business Acquisition [Line Items]
Repayments of Long-term Debt	$ 0
Gain (Loss) on Disposition of Assets	$ 3,469
Area of Real Estate Property | ft²	35
Acreage | a	44.7
Real Estate Assets Gross Sales Price	$ 18,750
Land And Outparcel Disposition | The Town Center at Aquia Commercial / Residential Land
Business Acquisition [Line Items]
Repayments of Long-term Debt	0
Gain (Loss) on Disposition of Assets	$ 289
Location	Stafford, VA
Area of Real Estate Property | ft²	35
Acreage | a	32.8
Real Estate Property Date Sold	May 29, 2015
Real Estate Assets Gross Sales Price	$ 13,350
Land And Outparcel Disposition | Taylors Square - Outparcel
Business Acquisition [Line Items]
Repayments of Long-term Debt	0
Gain (Loss) on Disposition of Assets	$ (16)
Location	Taylors, SC
Acreage | a	0.6
Real Estate Property Date Sold	Apr. 22, 2015
Real Estate Assets Gross Sales Price	$ 250
Land And Outparcel Disposition | Target and Shell Oil Parcels
Business Acquisition [Line Items]
Repayments of Long-term Debt	0
Gain (Loss) on Disposition of Assets	$ 3,196
Location	Gaines Township, MI
Acreage | a	11.3
Real Estate Property Date Sold	Feb. 12, 2015
Real Estate Assets Gross Sales Price	$ 5,150
Income Producing Property Dispositions
Business Acquisition [Line Items]
Repayments of Long-term Debt	0
Gain (Loss) on Disposition of Assets	$ 4,536
Area of Real Estate Property | ft²	170
Acreage | a	1.3
Real Estate Assets Gross Sales Price	$ 9,750
Income Producing Property Dispositions | Conyers Crossing
Business Acquisition [Line Items]
Repayments of Long-term Debt	0
Gain (Loss) on Disposition of Assets	$ 4,536
Location	Conyers, GA
Area of Real Estate Property | ft²	170
Acreage | a	1.3
Real Estate Property Date Sold	Sep. 30, 2015
Real Estate Assets Gross Sales Price	$ 9,750
Income Producing Property and Land and Outparcel Disposition
Business Acquisition [Line Items]
Repayments of Long-term Debt	0
Gain (Loss) on Disposition of Assets	$ 8,005
Area of Real Estate Property | ft²	205
Acreage | a	46
Real Estate Assets Gross Sales Price	$ 28,500

Equity Investments in Unconso34

Equity Investments in Unconsolidated Joint Ventures - Additional Information (Detail)	Sep. 30, 2015Contract
Schedule of Equity Method Investments [Line Items]
Number of Joint Ventures	4
Minimum
Schedule of Equity Method Investments [Line Items]
Percentage of ownership interest	7.00%
Maximum
Schedule of Equity Method Investments [Line Items]
Percentage of ownership interest	30.00%

Equity Investments in Unconso35

Equity Investments in Unconsolidated Joint Ventures - Summary of Combined Financial Information of Unconsolidated Entities, Balance Sheets (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
ASSETS
Income producing properties, net	$ 112,306	$ 394,740
Cash, accounts receivable and other assets	7,358	23,102
Total Assets	119,664	417,842
LIABILITIES AND OWNERS' EQUITY
Mortgage notes payable	22,000	170,194
Other liabilities	2,639	7,625
Owners' equity	95,025	240,023
Total Liabilities and Owners' Equity	119,664	417,842
RPT's equity investments in unconsolidated joint ventures	$ 4,236	$ 28,733

Equity Investments in Unconso36

Equity Investments in Unconsolidated Joint Ventures - Investments in Unconsolidated Joint Ventures (Additional Detail) (Detail)	9 Months Ended
	Sep. 30, 2015
Ramco/Lion Venture LP
Schedule of Equity Method Investments [Line Items]
Mortgage debt interest rate, minimum	1.90%

Equity Investments in Unconso37

Equity Investments in Unconsolidated Joint Ventures - Summary of Combined Financial Information of Unconsolidated Entities, Statements of Operations (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Equity Method Investments and Joint Ventures [Abstract]
Total revenue	$ 4,603	$ 10,425	$ 25,513	$ 31,927
Total expenses	3,035	7,012	17,698	31,973
Income (loss) before other income and expense	1,568	3,413	7,815	(46)
Gain on sale of real estate	67,342	0	74,805	740
Interest expense	(537)	(1,820)	(4,131)	(5,511)
Gain on extinguishment of debt	0	0	0	529
Amortization of deferred financing fees	(39)	(77)	(187)	(229)
Net income (loss)	68,334	1,516	78,302	(4,517)
RPT's share of earnings (loss) from unconsolidated joint ventures	$ 13,977	$ 455	$ 16,972	$ (336)

Equity Investments in Unconso38

Equity Investments in Unconsolidated Joint Ventures Equity Investments in Unconsolidated Joint Ventures - Disposition Activity (Details) - Corporate Joint Venture [Member] ft² in Thousands, $ in Thousands	9 Months Ended
	Sep. 30, 2015USD ($)ft²
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Area of Real Estate Property | ft²	1,869
Proceeds from Sale of Real Estate	$ 366,408
Repayments of Long-term Debt	147,617
Equity Method Investment, Realized Gain (Loss) on Disposal	$ 74,805
Millennium Park
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Area of Real Estate Property | ft²	273
Percentage of ownership interest	30.00%
Real Estate Property Date Sold	Aug. 11, 2015
Proceeds from Sale of Real Estate	$ 47,000
Repayments of Long-term Debt	29,658
Equity Method Investment, Realized Gain (Loss) on Disposal	$ 1,776
Ramco 450
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Area of Real Estate Property | ft²	1,440
Percentage of ownership interest	20.00%
Real Estate Property Date Sold	Jul. 21, 2015
Proceeds from Sale of Real Estate	$ 291,908
Repayments of Long-term Debt	117,959
Equity Method Investment, Realized Gain (Loss) on Disposal	$ 65,566
Village of Oriole Plaza
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Area of Real Estate Property | ft²	156
Percentage of ownership interest	30.00%
Real Estate Property Date Sold	Mar. 24, 2015
Proceeds from Sale of Real Estate	$ 27,500
Repayments of Long-term Debt	0
Equity Method Investment, Realized Gain (Loss) on Disposal	$ 7,463

Equity Investments in Unconso39

Equity Investments in Unconsolidated Joint Ventures - Information of Fees Earned (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Equity Method Investments and Joint Ventures [Abstract]
Management fees	$ 251	$ 379	$ 1,033	$ 1,145
Leasing fees	30	160	238	266
Construction fees	31	43	151	117
Total	$ 312	$ 582	$ 1,422	$ 1,528

Debt - Summary of Mortgages, No

Debt - Summary of Mortgages, Notes Payable and Capital Lease Obligation (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Debt Disclosure [Abstract]
Senior unsecured notes	$ 410,000	$ 310,000
Unsecured term loan facilities	210,000	210,000
Fixed rate mortgages	323,381	354,714
Unsecured revolving credit facility	125,000	10,000
Junior subordinated notes	28,125	28,125
Subtotal debt	1,096,506	912,839
Unamortized premium	7,397	8,866
Total debt (including unamortized premium)	1,103,903	921,705
Capital lease obligation	$ 1,148	$ 1,828

Debt - Additional Information (

Debt - Additional Information (Detail) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015USD ($)mortgage	Sep. 30, 2014USD ($)	Sep. 30, 2015USD ($)mortgage	Sep. 30, 2014USD ($)	Dec. 31, 2014USD ($)
Debt Instrument [Line Items]
Senior unsecured notes	$ 410,000		$ 410,000		$ 310,000
Mortgage debt interest rate	5.798%		5.798%
Number of mortgages assumed | mortgage	3		3
Number of mortgages repaid | mortgage	2		2
Unamortized premium	$ 7,397		$ 7,397		8,866
Gain (loss) on extinguishment of debt	27	$ 0	1,414	$ (860)
Escrow balances applied to principle balance			1,700
Mortgages payable	323,381		323,381		354,714
Net repayments on revolving credit facility			115,000	$ 93,000
Letter of credit, unadjusted outstanding balance	125,000		125,000		10,000
Fixed Rate Mortgages
Debt Instrument [Line Items]
Senior unsecured notes	100,000		$ 100,000
Term at fixed interest rate			10 years
Unamortized premium	7,400		$ 7,400		$ 8,900
Mortgage debt interest rate, minimum			2.90%
Mortgage debt interest rate, maximum			7.40%
Net book value of mortgage on properties	406,600		$ 406,600
Series A | Fixed Rate Mortgages
Debt Instrument [Line Items]
Senior unsecured notes	$ 50,000		$ 50,000
Mortgage debt interest rate	4.09%		4.09%
Series B | Fixed Rate Mortgages
Debt Instrument [Line Items]
Senior unsecured notes	$ 25,000		$ 25,000
Term at fixed interest rate			9 years
Mortgage debt interest rate	4.05%		4.05%
Series C | Fixed Rate Mortgages
Debt Instrument [Line Items]
Senior unsecured notes	$ 25,000		$ 25,000
Term at fixed interest rate			11 years
Mortgage debt interest rate	4.28%		4.28%
Shelf Facility | Fixed Rate Mortgages
Debt Instrument [Line Items]
Term at fixed interest rate			10 years
Mortgage debt interest rate	4.20%		4.20%
Letter of credit, unadjusted outstanding balance	$ 50,000		$ 50,000
Ramco 450 Mortgage Notes
Debt Instrument [Line Items]
Loans assumed			$ 60,100
Average interest rate	4.10%		4.10%
Repayments of mortgages			$ 41,700
Repayment of mortgages, pro rata share			11,300
Unamortized premium	$ 1,200		$ 1,200
Mortgage Notes
Debt Instrument [Line Items]
Average interest rate	5.20%		5.20%
Repayments of mortgages			$ 86,500
Gain (loss) on extinguishment of debt			1,387
The Town Center at Aquia - El Gran Charro Outparcel
Debt Instrument [Line Items]
Mortgages payable	$ 12,000		12,000
Revolving Credit Facility
Debt Instrument [Line Items]
Net repayments on revolving credit facility			115,000
Letter of credit, unadjusted outstanding balance	125,000		125,000
Letter of credit, outstanding balance	3,500		3,500
Letter of credit, remaining borrowing capacity	$ 221,500		$ 221,500
Letter of credit, interest rate at end of period	1.60%		1.60%

Debt - Scheduled Principal Paym

Debt - Scheduled Principal Payments on Mortgages and Notes Payable (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Debt Disclosure [Abstract]
2015 (October 1 - December 31)	$ 878
2,016	35,891
2,017	129,096
2,018	224,132
2,019	5,860
Thereafter	700,649
Subtotal debt	1,096,506	$ 912,839
Unamortized premium	7,397	8,866
Total debt (including unamortized premium)	$ 1,103,903	$ 921,705

Fair Value - Recorded Amount of

Fair Value - Recorded Amount of Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Derivative liabilities - interest rate swaps	$ (4,145)	$ (2,705)
Derivative assets - interest rate swaps		537
Level 1
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Derivative liabilities - interest rate swaps	0	0
Derivative assets - interest rate swaps		0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Derivative liabilities - interest rate swaps	(4,145)	(2,705)
Derivative assets - interest rate swaps		537
Level 3
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Derivative liabilities - interest rate swaps	$ 0	0
Derivative assets - interest rate swaps		$ 0

Fair Value - Additional Inform

Fair Value - Additional Information (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Fair Value Measurements [Line Items]
Long term debt, carrying amount	$ 1,103,903	$ 921,705
Level 2 | Fixed Rate Mortgages
Fair Value Measurements [Line Items]
Long term debt, carrying amount	943,400	874,700
Long term debt, fair value	971,000	900,900
Level 2 | Floating Rate Debt
Fair Value Measurements [Line Items]
Long term debt, carrying amount	$ 153,100	$ 38,100

Fair Value Fair Value - Recorde

Fair Value Fair Value - Recorded Amount of Assets Marked to Fair Value on Nonrecurring Basis (Details) $ in Thousands	Sep. 30, 2015USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value	$ 7,501
Total impairment	(2,521)
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value	7,501
Land available for sale
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value	7,501
Total impairment	(2,521)
Land available for sale | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value	$ 7,501

Derivative Financial Instrume46

Derivative Financial Instruments - Additional Information (Detail) - Interest Rate Swap - Cash Flow Hedging - Designated as Hedging Instrument	Sep. 30, 2015USD ($)Investment
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Number of interest swap agreements | Investment	7
Notional amount of derivatives	$ 210,000,000
Minimum
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Derivative interest rate, one-month LIBOR interest rate	1.20%
Maximum
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Derivative interest rate, one-month LIBOR interest rate	2.20%

Derivative Financial Instrume47

Derivative Financial Instruments - Summary of Notional Values and Fair Values of Derivative Financial Instruments (Detail) - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Derivative [Line Items]
Fair Value		$ (537,000)
Fair Value	$ (4,145,000)	$ (2,705,000)
Cash Flow Hedging | Designated as Hedging Instrument | Interest Rate Swap
Derivative [Line Items]
Notional Amount	210,000,000
Fair Value	(4,145,000)
Cash Flow Hedging | Designated as Hedging Instrument | Unsecured term loan facility with: 1.2175 % Swap Rate, Expiration Date 04/2016
Derivative [Line Items]
Notional Amount	$ 75,000,000
Fixed rate	1.2175%
Fair Value	$ (406,000)
Cash Flow Hedging | Designated as Hedging Instrument | Unsecured term loan facility with: 2.0480 % Swap Rate, Expiration Date 10/2018
Derivative [Line Items]
Notional Amount	$ 30,000,000
Fixed rate	2.048%
Fair Value	$ (1,071,000)
Cash Flow Hedging | Designated as Hedging Instrument | Unsecured term loan facility with: 1.8500 % Swap Rate, Expiration Date 10/2018
Derivative [Line Items]
Notional Amount	$ 25,000,000
Fixed rate	1.85%
Fair Value	$ (740,000)
Cash Flow Hedging | Designated as Hedging Instrument | Unsecured term loan facility with: 1.8400 % Swap Rate, Expiration Date 10/2018
Derivative [Line Items]
Notional Amount	$ 5,000,000
Fixed rate	1.84%
Fair Value	$ (147,000)
Cash Flow Hedging | Designated as Hedging Instrument | Unsecured term loan facility with: 2.1500 % Swap Rate, Expiration Date 05/2020
Derivative [Line Items]
Notional Amount	$ 15,000,000
Fixed rate	2.15%
Fair Value	$ (666,000)
Cash Flow Hedging | Designated as Hedging Instrument | Unsecured term loan facility with: 2.1500 % Swap Rate, Expiration Date 05/2020
Derivative [Line Items]
Notional Amount	$ 10,000,000
Fixed rate	2.15%
Fair Value	$ (444,000)
Cash Flow Hedging | Designated as Hedging Instrument | Unsecured term loan facility with: 1.4600 % Swap Rate, Expiration Date 05/2020
Derivative [Line Items]
Notional Amount	$ 50,000,000
Fixed rate	1.46%
Fair Value	$ (671,000)

Derivative Financial Instrume48

Derivative Financial Instruments - Summary of Effect of Derivative Financial Instruments on Consolidated Statements of Operations (Detail) - Interest Rate Contracts - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Interest Rate Swap
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in OCI on Derivative (Effective Portion)	$ 284	$ 1,460
Amount of Loss Reclassified from Accumulated OCI into Income (Effective Portion)	(2,260)	(2,300)
Derivative Assets
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in OCI on Derivative (Effective Portion)	(111)	(153)
Derivative Liabilities
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in OCI on Derivative (Effective Portion)	395	1,613
Interest Expense | Derivative Assets
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Loss Reclassified from Accumulated OCI into Income (Effective Portion)	(425)	(876)
Interest Expense | Derivative Liabilities
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Loss Reclassified from Accumulated OCI into Income (Effective Portion)	$ (1,835)	$ (1,424)

Earnings Per Common Share - Com

Earnings Per Common Share - Computation of Basic Earnings Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Net income	$ 34,606	$ 6,263	$ 51,839	$ 10,144
Net income attributable to noncontrolling interest	(940)	(180)	(1,416)	(303)
Allocation of continuing income to restricted share awards	(1,361)	(65)	(250)	(162)
Income attributable to RPT	32,305	6,018	50,173	9,679
Preferred share dividends	(1,675)	(1,813)	(5,162)	(5,438)
Preferred share conversion costs	0	0	(500)	0
NET INCOME AVAILABLE TO COMMON SHAREHOLDERS	31,991	4,270	44,761	4,403
Addback preferred shares for dilution (1)	1,675	0	0	0
Net Income (Loss) Available to Common Stockholders, Diluted	$ 32,305	$ 4,205	$ 44,511	$ 4,241
Weighted average shares outstanding, Basic (in shares)	79,162	74,840	78,742	70,283
Stock options and restricted stock awards using the treasury method (in shares)	184	240	197	237
Dilutive effect of securities (in shares)	6,535	0	0	0
Weighted average shares outstanding, Diluted (in shares)	85,881	75,080	78,939	70,520
Income per common share, Basic (in USD per share)	$ 0.39	$ 0.06	$ 0.57	$ 0.06
Income per common share, Diluted (in USD per share)	$ 0.38	$ 0.06	$ 0.57	$ 0.06
Basic Shares [Member]
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
NET INCOME AVAILABLE TO COMMON SHAREHOLDERS	$ 30,630	$ 4,205	$ 44,511	$ 4,241

Share-Based Compensation Plans

Share-Based Compensation Plans - Additional Information (Detail) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2015USD ($)shares	Sep. 30, 2015USD ($)planshares	Sep. 30, 2014USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of share-based compensation plans in effect | plan		1
Share based compensation, number of options terminated (in shares)		298,335
Performance-based liability awards, measurement period		3 years
Percentage of award to be paid in cash		50.00%
Share-based compensation expenses | $	$ (1)	$ 1.3	$ 1.6
Compensation expense related to cash awards | $		0.5	$ 1.6
Total unrecognized compensation expense | $	$ 4.1	$ 4.1
Total unrecognized compensation expense, weighted average period of recognition		4 years 7 months 6 days
Long-Term Incentive Plan ("LTIP")
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized for grant	2,000,000	2,000,000
Share based compensation, number of options available for issuance (in shares)	1,597,723	1,597,723
Service-based restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Service based restricted stock, shares granted during period		150,817
Service based restricted stock, vesting period		5 years

Taxes - Additional Information

Taxes - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Income Taxes [Line Items]
Percentage of taxable income required to distribute annually to maintain REIT qualification, (in hundredths)	90.00%		90.00%
Income tax provision (benefit)	$ 29	$ 2	$ 306	$ 18
Federal and State Income Taxes
Income Taxes [Line Items]
Federal and state deferred tax asset	10,700		10,700
Federal and state deferred tax asset, valuation allowance	$ 10,700		$ 10,700

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Commitments and Contingencies Disclosure [Abstract]
Construction costs related to development and expansion	$ 13.5
Operating and capital leases expenses	$ 0.5	$ 0.7

Subsequent Events (Details)

Subsequent Events (Details) $ in Thousands	1 Months Ended	9 Months Ended
	Oct. 29, 2015USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)
Subsequent Event [Line Items]
Distributions from sale of joint venture property		$ 8,173	$ 0
Subsequent Event
Subsequent Event [Line Items]
Percentage of ownership interest	0.20
Distributions from sale of joint venture property	$ 5,700