SITE Centers (SITC) 10-Q 4 Nov 15 2015 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2015	Oct. 29, 2015
Document And Entity Information [Abstract]
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	DDR
Entity Registrant Name	DDR CORP
Entity Central Index Key	894,315
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		362,129,766

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Assets
Land	$ 2,187,720	$ 2,208,468
Buildings	6,931,911	7,087,040
Fixtures and tenant improvements	709,548	645,035
Total real estate rental property	9,829,179	9,940,543
Less: Accumulated depreciation	(2,038,635)	(1,909,585)
Real estate rental property, net	7,790,544	8,030,958
Construction in progress and land	326,196	395,242
Total real estate assets, net	8,116,740	8,426,200
Investments in and advances to joint ventures	393,520	414,848
Cash and cash equivalents	21,040	20,937
Restricted cash	41,920	11,375
Accounts receivable, net	131,209	132,661
Notes receivable, net	47,430	56,245
Deferred charges, less accumulated amortization of $41,088 and $38,796, respectively	28,321	28,187
Other assets, net	375,299	451,442
Total assets	9,155,479	9,541,895
Unsecured indebtedness:
Senior notes	3,118,656	2,765,893
Unsecured term loan	300,000	350,000
Revolving credit facilities	395,000	29,009
Total unsecured indebtedness	3,813,656	3,144,902
Secured indebtedness:
Secured term loan	200,000	400,000
Mortgage indebtedness	1,209,921	1,689,805
Total secured indebtedness	1,409,921	2,089,805
Total indebtedness	5,223,577	5,234,707
Accounts payable and other liabilities	425,507	448,192
Dividends payable	68,059	61,468
Total liabilities	$ 5,717,143	$ 5,744,367
Commitments and contingencies (Note 9)
DDR Equity
Common shares, with par value, $0.10 stated value; 600,000,000 shares authorized; 362,225,819 and 360,711,232 shares issued at September 30, 2015 and December 31, 2014, respectively	$ 36,223	$ 36,071
Paid-in capital	5,467,413	5,438,778
Accumulated distributions in excess of net income	(2,416,655)	(2,047,212)
Deferred compensation obligation	15,516	16,609
Accumulated other comprehensive loss	(6,662)	(7,352)
Less: Common shares in treasury at cost: 1,019,290 and 957,068 shares at September 30, 2015 and December 31, 2014, respectively	(16,039)	(16,646)
Total DDR shareholders' equity	3,429,796	3,770,248
Non-controlling interests	8,540	27,280
Total equity	3,438,336	3,797,528
Total liabilities and equity	9,155,479	9,541,895
Class J Cumulative Redeemable Preferred Shares [Member]
DDR Equity
Cumulative redeemable preferred shares	200,000	200,000
Class K Cumulative Redeemable Preferred Shares [Member]
DDR Equity
Cumulative redeemable preferred shares	$ 150,000	$ 150,000

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Accumulated amortization on deferred charges	$ 41,088	$ 38,796
Common shares, par value	$ 0.10	$ 0.10
Common shares, shares authorized	600,000,000	600,000,000
Common shares, shares issued	362,225,819	360,711,232
Treasury at cost	1,019,290	957,068
Class J Cumulative Redeemable Preferred Shares [Member]
Cumulative redeemable preferred shares, liquidation value	$ 500	$ 500
Cumulative redeemable preferred shares, shares authorized	750,000	750,000
Cumulative redeemable preferred shares, shares issued	400,000	400,000
Cumulative redeemable preferred shares, shares outstanding	400,000	400,000
Preferred stock dividend rate	6.50%	6.50%
Cumulative redeemable preferred shares, par value
Class K Cumulative Redeemable Preferred Shares [Member]
Cumulative redeemable preferred shares, liquidation value	$ 500	$ 500
Cumulative redeemable preferred shares, shares authorized	750,000	750,000
Cumulative redeemable preferred shares, shares issued	300,000	300,000
Cumulative redeemable preferred shares, shares outstanding	300,000	300,000
Preferred stock dividend rate	6.25%	6.25%
Cumulative redeemable preferred shares, par value

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Revenues from operations:
Minimum rents	$ 180,523	$ 171,893	$ 540,583	$ 507,475
Percentage and overage rents	835	507	3,592	2,772
Recoveries from tenants	61,915	58,116	188,016	171,947
Fee and other income	13,862	14,839	41,092	46,713
Total revenue from operations	257,135	245,355	773,283	728,907
Rental operation expenses:
Operating and maintenance	35,963	36,404	110,718	106,982
Real estate taxes	37,385	34,981	112,811	104,042
Impairment charges	0	1,448	279,021	18,119
General and administrative	17,596	19,540	55,462	58,878
Depreciation and amortization	97,155	97,270	299,470	296,093
Total rental operation expenses	188,099	189,643	857,482	584,114
Other income (expense):
Interest income	7,331	2,652	21,703	8,938
Interest expense	(58,217)	(56,774)	(182,524)	(176,106)
Other income (expense), net	(240)	(2,758)	(1,300)	(11,041)
Total other income (expense)	(51,126)	(56,880)	(162,121)	(178,209)
Income (loss) before earnings from equity method investments and other items	17,910	(1,168)	(246,320)	(33,416)
Equity in net income of joint ventures	648	3,620	2,351	10,241
Impairment of joint venture investments	0	0	0	(9,100)
Gain on sale and change in control of interests, net	0	3,984	7,772	87,814
Income (loss) before tax (expense) benefit of taxable REIT subsidiaries and state franchise and income taxes	18,558	6,436	(236,197)	55,539
Tax (expense) benefit of taxable REIT subsidiaries and state franchise and income taxes	(528)	214	(6,001)	(1,113)
Income (loss) from continuing operations	18,030	6,650	(242,198)	54,426
Income from discontinued operations	0	57,569	0	67,926
Income (loss) before gain on disposition of real estate	18,030	64,219	(242,198)	122,352
Gain on disposition of real estate, net of tax	41,793	2,262	78,154	2,645
Net income (loss)	59,823	66,481	(164,044)	124,997
(Income) loss attributable to non-controlling interests, net	(268)	2,125	(1,590)	2,985
Net income (loss) attributable to DDR	59,555	68,606	(165,634)	127,982
Write-off of preferred share original issuance costs	0	0	0	(1,943)
Preferred dividends	(5,594)	(5,594)	(16,781)	(18,460)
Net income (loss) attributable to common shareholders	$ 53,961	$ 63,012	$ (182,415)	$ 107,579
Basic earnings per share data:
Income (loss) from continuing operations attributable to common shareholders	$ 0.15	$ 0.01	$ (0.51)	$ 0.10
Income from discontinued operations attributable to common shareholders	0	0.16	0	0.20
Net income (loss) attributable to common shareholders	0.15	0.17	(0.51)	0.30
Diluted earnings per share data:
Income (loss) from continuing operations attributable to common shareholders	0.15	0.01	(0.51)	0.10
Income from discontinued operations attributable to common shareholders	0	0.16	0	0.20
Net income (loss) attributable to common shareholders	$ 0.15	$ 0.17	$ (0.51)	$ 0.30

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Net income (loss)	$ 59,823	$ 66,481	$ (164,044)	$ 124,997
Other comprehensive income (loss):
Foreign currency translation	(1,153)	(1,729)	(1,372)	6,654
Change in fair value of interest-rate contracts	97	2,999	417	535
Change in cash flow hedges reclassed to earnings	172	118	1,001	354
Reclassification adjustment for realized gains on available-for-sale securities included in net income	0	0	0	(840)
Unrealized losses on available-for-sale securities	0	(182)	0	(649)
Total other comprehensive (loss) income	(884)	6,815	46	31,378
Comprehensive income (loss)	58,939	73,296	(163,998)	156,375
Comprehensive (income) loss attributable to non-controlling interests:
Allocation of net (income) loss	(268)	2,125	(1,590)	2,985
Foreign currency translation	359	647	644	634
Total comprehensive loss (income) attributable to non-controlling interests	91	(1,192)	(946)	(345)
Total comprehensive income (loss) attributable to DDR	59,030	72,104	(164,944)	156,030
Parent
Other comprehensive income (loss):
Reclassification adjustment for foreign currency translation included in net income	0	5,609	0	25,324
Non-Controlling Interests
Other comprehensive income (loss):
Reclassification adjustment for foreign currency translation included in net income	$ 0	$ (3,964)	0	$ (3,964)
Comprehensive income (loss)			$ 946

CONSOLIDATED STATEMENT OF EQUIT

CONSOLIDATED STATEMENT OF EQUITY - 9 months ended Sep. 30, 2015 - USD ($) $ in Thousands	Total	Preferred Shares	Common Shares	Paid-in Capital	Accumulated Distributions in Excess of Net Income	Deferred Compensation Obligation	Accumulated Other Comprehensive Loss	Treasury Stock at Cost	Non-Controlling Interests
Balance at Dec. 31, 2014	$ 3,797,528	$ 350,000	$ 36,071	$ 5,438,778	$ (2,047,212)	$ 16,609	$ (7,352)	$ (16,646)	$ 27,280
Issuance of common shares related to stock plans	7,191	0	42	7,018	0	0	0	131	0
Issuance of restricted stock	953	0	0	(2,605)	0	761	0	2,797	0
Vesting of restricted stock	(371)	0	6	3,798	0	(1,854)	0	(2,321)	0
Stock-based compensation	2,308	0	0	2,308	0	0	0	0	0
Redemption of OP Units	(36)	0	104	18,116	0	0	0	0	(18,256)
Distributions to non-controlling interests	(1,430)	0	0	0	0	0	0	0	(1,430)
Dividends declared-common shares	(187,028)	0	0	0	(187,028)	0	0	0	0
Dividends declared-preferred shares	(16,781)	0	0	0	(16,781)	0	0	0	0
Comprehensive (loss) income	(163,998)	0	0	0	(165,634)	0	690	0	946
Balance at Sep. 30, 2015	$ 3,438,336	$ 350,000	$ 36,223	$ 5,467,413	$ (2,416,655)	$ 15,516	$ (6,662)	$ (16,039)	$ 8,540

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Cash flow from operating activities:
Net (loss) income	$ (164,044)	$ 124,997
Adjustments to reconcile net (loss) income to net cash flow provided by operating activities:
Depreciation and amortization	299,470	310,984
Stock-based compensation	6,415	6,706
Amortization and write-off of deferred finance charges and fair market value of debt adjustments	(6,088)	(3,051)
Accretion of convertible debt discount	8,938	8,476
Equity in net income of joint ventures	(2,351)	(10,241)
Impairment of joint venture investments	0	9,100
Net gain on sale and change in control of interests	(7,772)	(87,814)
Operating cash distributions from joint ventures	5,824	6,358
Realized gain on sale of available-for-sale securities	0	(840)
Gain on disposition of real estate	(78,154)	(76,932)
Impairment charges	279,021	26,996
Change in notes receivable accrued interest	(6,035)	(2,583)
Change in restricted cash	548	9,440
Net change in accounts receivable	(1,689)	319
Net change in accounts payable and accrued expenses	(2,603)	14,387
Net change in other operating assets and liabilities	(30,579)	(20,877)
Total adjustments	464,945	190,428
Net cash flow provided by operating activities	300,901	315,425
Cash flow from investing activities:
Real estate acquired, net of liabilities and cash assumed	(105,846)	(315,329)
Real estate developed and improvements to operating real estate	(231,963)	(183,999)
Proceeds from disposition of real estate and joint venture interests	293,130	773,445
Equity contributions to joint ventures	(277)	(4,221)
Repayment of joint venture advances, net	0	2,946
Distributions from sale and refinancing of joint venture interests	5,582	9,600
Return of investments in joint ventures	6,533	7,649
Proceeds from sale of available-for-sale securities	0	1,740
Repayment of notes receivable	9,397	341
Change in restricted cash	(31,093)	18,235
Net cash flow (used for) provided by investing activities	(54,537)	310,407
Cash flow from financing activities:
Proceeds from (repayments of) revolving credit facilities, net	367,371	(4,390)
Proceeds from issuance of senior notes, net of underwriting commissions and offering expenses	491,972	0
Repayment of senior notes	(152,996)	0
Proceeds from mortgages and other debt	300,000	92,063
Repayment of term loans and mortgage debt	(1,047,734)	(434,074)
Payment of debt issuance costs	(4,559)	(699)
Redemption of preferred shares	0	(55,000)
Proceeds from issuance of common shares, net of underwriting commissions and offering expenses	0	11,698
Issuance (repurchase) of common shares in conjunction with equity award plans and dividend reinvestment plan	2,811	(4,161)
Contributions from non-controlling interests	0	93
Distributions to non-controlling interests and redeemable operating partnership units	(6,065)	(3,982)
Dividends paid	(197,218)	(179,229)
Net cash flow used for financing activities	(246,418)	(577,681)
Cash and cash equivalents:
(Decrease) increase in cash and cash equivalents	(54)	48,151
Effect of exchange rate changes on cash and cash equivalents	157	(495)
Cash and cash equivalents, beginning of year	20,937	86,664
Cash and cash equivalents, end of period	$ 21,040	$ 134,320

Nature of Business and Financia

Nature of Business and Financial Statement Presentation	9 Months Ended
	Sep. 30, 2015
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Nature of Business and Financial Statement Presentation	1. Nature of Business and Financial Statement Presentation Nature of Business DDR Corp. and its related consolidated real estate subsidiaries (collectively, the “Company” or “DDR”) and unconsolidated joint ventures are primarily engaged in the business of acquiring, owning, developing, redeveloping, expanding, leasing and managing shopping centers. In addition, the Company engages in the origination and acquisition of loans and debt securities, which are generally collateralized directly or indirectly by shopping centers. Unless otherwise provided, references herein to the Company or DDR include DDR Corp., its wholly-owned and majority-owned subsidiaries and its consolidated joint ventures. The Company’s tenant base primarily includes national and regional retail chains and local retailers. Consequently, the Company’s credit risk is concentrated in the retail industry. Use of Estimates in Preparation of Financial Statements The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities and the reported amounts of revenues and expenses during the year. Actual results could differ from those estimates. Unaudited Interim Financial Statements These financial statements have been prepared by the Company in accordance with generally accepted accounting principles for interim financial information and the applicable rules and regulations of the Securities and Exchange Commission. Accordingly, they do not include all information and footnotes required by generally accepted accounting principles for complete financial statements. However, in the opinion of management, the interim financial statements include all adjustments, consisting of only normal recurring adjustments, necessary for a fair statement of the results of the periods presented. The results of operations for the three and nine months ended September 30, 2015 and 2014, are not necessarily indicative of the results that may be expected for the full year. These condensed consolidated financial statements should be read in conjunction with the Company’s audited financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014, as amended. Principles of Consolidation The condensed consolidated financial statements include the results of the Company and all entities in which the Company has a controlling interest or has been determined to be the primary beneficiary of a variable interest entity. All significant inter-company balances and transactions have been eliminated in consolidation. Investments in real estate joint ventures and companies in which the Company has the ability to exercise significant influence, but does not have financial or operating control, are accounted for using the equity method of accounting. Accordingly, the Company’s share of the earnings (or loss) of these joint ventures and companies is included in consolidated net income. Deferred Tax Assets and Tax Liabilities – Puerto Rico Tax Restructuring In the first quarter of 2015, in accordance with temporary legislation of the Puerto Rico Internal Revenue Code, the Company restructured the ownership of its 14 assets in Puerto Rico and made a voluntary election to prepay $20.2 million of taxes related to the built-in gains associated with the real estate assets. This election permitted the Company to step-up its tax basis in the Puerto Rican assets to the current estimated fair value while reducing its effective capital gains tax rate from 29% to 12%. Further, the Company converted the ownership to a Puerto Rico Real Estate Investment Trust (“REIT”) structure, which reduced the effective tax on the operational activity from 39% to 10%. The net balance sheet impact to the financial statements related to the restructuring was $16.8 million. In the first quarter of 2015, the Company recorded a tax expense of $3.4 million related to the 2% effective tax rate spread between the 12% tax payment and the revalued deferred tax asset under the REIT structure using a 10% effective tax rate. Statements of Cash Flows and Supplemental Disclosure of Non-Cash Investing and Financing Information Non-cash investing and financing activities are summarized as follows (in millions): Nine Months Ended September 30, 2015 2014 Mortgages assumed from acquisitions $ 33.7 $ 293.3 Issuance of Operating Partnership Units ("OP Units") — 18.3 Redemption of OP Units 18.3 — Preferred equity interest and mezzanine loan applied to purchase price of acquired properties — 51.8 Elimination of a previously held equity interest 1.4 2.8 Reclassification adjustment of foreign currency translation — 21.4 Accounts payable related to construction in progress 43.9 31.3 Dividends declared 68.1 61.3 Write-off of preferred share original issuance costs — 1.9 Fee and Other Income Fee and other income was composed of the following (in millions): Three Months Nine Months Ended September 30, Ended September 30, 2015 2014 2015 2014 Management and other fee income $ 8.2 $ 7.6 $ 24.7 $ 23.7 Ancillary and other property income 4.7 6.3 13.5 18.4 Lease termination fees 0.7 0.7 2.3 4.1 Other 0.3 0.2 0.6 0.5 Total fee and other income $ 13.9 $ 14.8 $ 41.1 $ 46.7 New Accounting Standards Adopted Discontinued Operations In April 2014, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update No. 2014-08 (“ASU 2014-08”), Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity, New Accounting Standards Revenue Recognition In May 2014, the FASB issued Accounting Standards Update No. 2014-09 (“ASU 2014-09”), Revenue from Contracts with Customers Debt Issuance Costs In April 2015, the FASB issued Accounting Standards Update No. 2015-03 (“ASU 2015-03”), Simplifying the Presentation of Debt Issuance Costs Business Combinations In September 2015, FASB issued guidance pertaining to entities that have reported provisional amounts for items in a business combination for which the accounting is incomplete by the end of the reporting period in which the combination occurs and during the measurement period have an adjustment to provisional amounts recognized. The guidance requires that an acquirer recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined. Any adjustments should be calculated as if the accounting had been completed at the acquisition date. The guidance is effective for public companies for fiscal years beginning after December 15, 2016, with early adoption permitted. Application of the guidance is prospective. The Company has not determined when it will adopt this guidance, nor what impact the adoption may have on its consolidated financial statements.

Investments in and Advances to

Investments in and Advances to Joint Ventures	9 Months Ended
	Sep. 30, 2015
Equity Method Investments And Joint Ventures [Abstract]
Investments in and Advances to Joint Ventures	2. Investments in and Advances to Joint Ventures At September 30, 2015 and December 31, 2014, the Company had ownership interests in various unconsolidated joint ventures that had an investment in 174 and 188 shopping center properties, respectively. Condensed combined financial information of the Company’s unconsolidated joint venture investments is as follows (in thousands): September 30, 2015 December 31, 2014 Condensed Combined Balance Sheets Land $ 1,319,519 $ 1,439,849 Buildings 3,457,212 3,854,585 Fixtures and tenant improvements 183,108 200,696 4,959,839 5,495,130 Less: Accumulated depreciation (799,161 ) (773,256 ) 4,160,678 4,721,874 Land held for development and construction in progress 52,215 55,698 Real estate, net 4,212,893 4,777,572 Cash and restricted cash 62,751 100,812 Receivables, net 52,903 80,508 Other assets 299,625 394,751 $ 4,628,172 $ 5,353,643 Mortgage debt $ 3,116,584 $ 3,552,764 Notes and accrued interest payable to the Company 2,926 144,831 Other liabilities 198,804 276,998 3,318,314 3,974,593 Redeemable preferred equity 310,763 305,310 Accumulated equity 999,095 1,073,740 $ 4,628,172 $ 5,353,643 Company's share of accumulated equity $ 125,103 $ 122,937 Redeemable preferred equity 310,763 305,310 Basis differentials (42,803 ) (12,954 ) Deferred development fees, net of portion related to the Company's interest (2,469 ) (2,562 ) Amounts payable to the Company 2,926 2,117 Investments in and Advances to Joint Ventures $ 393,520 $ 414,848 Three Months Nine Months Ended September 30, Ended September 30, 2015 2014 2015 2014 Condensed Combined Statements of Operations Revenues from operations $ 126,698 $ 108,334 $ 397,364 $ 356,975 Expenses from operations: Operating expenses 47,676 34,883 147,072 121,884 Impairment charges — — 448 600 Depreciation and amortization 49,949 31,435 158,168 107,165 Interest expense 33,202 37,667 107,698 129,514 Other (income) expense, net 589 173 1,173 2,964 131,416 104,158 414,559 362,127 (Loss) income before tax expense and discontinued operations (4,718 ) 4,176 (17,195 ) (5,152 ) Income tax expense (primarily Sonae Sierra Brasil), net — — — (6,565 ) (Loss) income from continuing operations (4,718 ) 4,176 (17,195 ) (11,717 ) Discontinued operations: Loss from discontinued operations — (12,906 ) — (17,090 ) Gain on disposition of real estate, net of tax — 4,713 — 28,224 Loss before (loss) gain on disposition of real estate, net (4,718 ) (4,017 ) (17,195 ) (583 ) (Loss) gain on disposition of real estate, net (2,626 ) 3,833 (4,197 ) 3,833 Net (loss) income $ (7,344 ) $ (184 ) $ (21,392 ) $ 3,250 Income attributable to non-controlling interests — — — (2,023 ) Net (loss) income attributable to unconsolidated joint ventures $ (7,344 ) $ (184 ) $ (21,392 ) $ 1,227 Company's share of equity in net income of joint ventures (A) $ 336 $ 3,316 $ 1,406 $ 9,483 Basis differential adjustments (B) 312 304 945 758 Equity in net income of joint ventures (A) $ 648 $ 3,620 $ 2,351 $ 10,241 ( A ) The Company did not record income or loss from those investments in which its investment basis was zero. As of March 13, 2015, the Company no longer had an interest in these assets. ( B ) The difference between the Company’s share of net income, as reported above, and the amounts included in the consolidated statements of operations is attributable to the amortization of basis differentials, the recognition of deferred gains and differences in gain (loss) on sale of certain assets recognized due to the basis differentials and other than temporary impairment charges. Service fees and income earned by the Company through management, financing, leasing and development activities performed related to all of the Company’s unconsolidated joint ventures are as follows (in millions): Three Months Nine Months Ended September 30, Ended September 30, 2015 2014 2015 2014 Management and other fees $ 6.5 $ 5.9 $ 19.6 $ 18.2 Development fees and leasing commissions 1.6 1.4 4.8 4.9 Interest income 6.5 1.7 19.2 5.0 The Company’s joint venture agreements generally include provisions whereby each partner has the right to trigger a purchase or sale of its interest in the joint venture or to initiate a purchase or sale of the properties after a certain number of years or if either party is in default of the joint venture agreements. The Company is not obligated to purchase the interests of its outside joint venture partners under these provisions. Coventry II Fund Coventry Real Estate Advisors L.L.C. (“CREA”) formed Coventry Real Estate Fund II, L.L.C. and Coventry Fund II Parallel Fund, L.L.C. (collectively, the “Coventry II Fund”). The Coventry II Fund was formed with several institutional investors and CREA as the investment manager. The Company and the Coventry II Fund entered into various joint ventures to invest in a variety of retail properties that presented opportunities for value creation. In March 2015, the Company, CREA and the Coventry II Fund finalized a settlement agreement in which the Company acquired Coventry II Fund’s 80% interest in Buena Park Place in Orange County, California (Note 3) and the Company transferred to Coventry II Fund its 20% ownership interest in the 21 remaining assets of the Coventry II Fund investments. The Company accounted for this transaction as a step acquisition and, as a result, recorded a Gain on Change in Control of Interests of $14.3 million related to the difference between the carrying value of its equity investment and the fair value of the asset acquired. Management Company Investment In June 2015, the Company sold its 50% membership interest in a property management company to its joint venture partner and recorded a Loss on Sale and Change in Control of Interests of $6.5 million.

Acquisitions

Acquisitions	9 Months Ended
	Sep. 30, 2015
Business Combinations [Abstract]
Acquisitions	3. Acquisitions In the nine months ended September 30, 2015, the Company acquired the following shopping centers (in millions): Location Date Acquired Purchase Price Face Value of Mortgage Debt Assumed Orange County, CA (A) March 2015 $ 49.2 $ 33.0 Orlando, FL April 2015 33.0 — Houston, TX June 2015 69.8 — (A) Acquired from joint venture partner (Note 2). The fair value of the acquisitions was allocated as follows (in thousands): Weighted-Average Amortization Period (in Years) Land $ 51,617 N/A Buildings 97,702 (B) Tenant improvements 3,834 (B) In-place leases (including lease origination costs and fair market value of leases) (A) 11,325 7.9 Tenant relations 5,750 11.8 Other assets 1,252 N/A 171,480 Less: Mortgage debt assumed at fair value (33,735 ) N/A Less: Below-market leases (18,191 ) 17.8 Less: Other liabilities assumed (1,144 ) N/A Net assets acquired $ 118,410 (A) Includes above-market leases of $0.2 million. ( B ) Depreciated in accordance with the Company’s policy. Consideration: Cash (including debt repaid at closing) $ 102,730 Gain on Change in Control of Interests 14,279 Carrying value of previously held equity interest 1,401 Total consideration $ 118,410 The costs related to the acquisition of these assets were expensed as incurred and included in Other Income (Expense), Net. Included in the Company’s consolidated statements of operations are $5.8 million and $7.7 million in total revenues from the date of acquisition through September 30, 2015 and 2014, respectively, for the acquired properties. Pro Forma Information The following unaudited supplemental pro forma operating data is presented for the three months ended September 30, 2014, and the nine months ended September 30, 2015 and 2014, as if the acquisition of the interests in the properties acquired in 2015 and 2014 were completed on January 1, 2014. The Gain on Change in Control of Interests related to the acquisition from an unconsolidated joint venture was adjusted to the assumed acquisition date. The unaudited supplemental pro forma operating data is not necessarily indicative of what the actual results of operations of the Company would have been assuming the transactions had been completed as set forth above, nor do they purport to represent the Company’s results of operations for future periods (in thousands, except per share amounts): Three Months Nine Months Ended September 30, Ended September 30, (Unaudited) (Unaudited) 2014 2015 2014 Pro forma revenues $ 257,997 $ 777,417 $ 772,004 Pro forma income (loss) from continuing operations $ 208 $ (255,931 ) $ 57,104 Pro forma net income (loss) attributable to common shareholders $ 56,570 $ (196,148 ) $ 110,257 Basic earnings per share data: Net income (loss) attributable to common shareholders $ 0.16 $ (0.55 ) $ 0.30 Diluted earnings per share data: Net income (loss) attributable to common shareholders $ 0.16 $ (0.55 ) $ 0.30

Notes Receivable

Notes Receivable	9 Months Ended
	Sep. 30, 2015
Receivables [Abstract]
Notes Receivable	4. Notes Receivable The Company has notes receivable, including accrued interest, that are collateralized by certain rights in development projects, partnership interests, sponsor guaranties and/or real estate assets, some of which are subordinate to other financings. Notes receivable consisted of the following (in thousands): September 30, 2015 December 31, 2014 Loans receivable $ 46,885 $ 52,444 Other 545 3,801 $ 47,430 $ 56,245 As of September 30, 2015 and December 31, 2014, the Company had five and six loans receivable outstanding, respectively. The following table reconciles the loans receivable on real estate for the nine months ended September 30, 2015 and 2014 (in thousands): 2015 2014 Balance at January 1 $ 52,444 $ 72,218 Additions: Interest — 810 Accretion of discount 730 689 Deductions: Payments of principal and interest (6,289 ) (347 ) Other — (20,550 ) Balance at September 30 $ 46,885 $ 52,820 At September 30, 2015, the Company had one loan outstanding aggregating $9.8 million that had previously matured and was more than 90 days past due and one loan that was fully reserved in prior periods. The Company is no longer accruing interest income on these notes as no payments have been received. The $9.8 million loan has a loan loss reserve of $4.8 million based on the estimated value of the underlying real estate collateral. No other loans outstanding are past due.

Other Assets

Other Assets	9 Months Ended
	Sep. 30, 2015
Other Assets [Abstract]
Other Assets	5. Other Assets Other assets consist of the following (in thousands): September 30, 2015 December 31, 2014 Intangible assets: In-place leases, net $ 134,873 $ 160,351 Above-market leases, net 47,722 57,199 Tenant relations, net 140,551 171,666 Total intangible assets, net (A) 323,146 389,216 Other assets: Prepaid expenses 21,924 14,456 Other assets (B) 21,829 39,746 Deposits 8,400 8,024 Total other assets, net $ 375,299 $ 451,442 (A) The Company recorded amortization expense related to its intangibles, excluding above- and below- market leases, of $22.6 million and $25.2 million for the three months ended September 30, 2015 and 2014, respectively, and $71.2 million and $79.1 million for the nine months ended September 30, 2015 and 2014, respectively. (B) See discussion of deferred tax asset in Note 1. During the first quarter of 2015, in accordance with amended legislation of the Puerto Rico Internal Revenue Code, the Company elected and paid an additional $20.2 million as part of an overall tax restructuring.

Revolving Credit Facilities and

Revolving Credit Facilities and Term Loans	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
Revolving Credit Facilities and Term Loans	6. Revolving Credit Facilities and Term Loans The following table discloses certain information regarding the Company’s Revolving Credit Facilities (as defined below) and term loans (in millions): Carrying Value at September 30, 2015 Weighted-Average Interest Rate (A) September 30, 2015 Maturity Date Unsecured indebtedness: Unsecured Credit Facility $ 385.0 1.2% June 2019 PNC Facility 10.0 1.2% June 2019 Unsecured Term Loan 300.0 1.3% April 2017 Secured indebtedness: Secured Term Loan 200.0 1.5% April 2017 (A) Interest rate on variable-rate debt calculated using the base rate and spreads in effect at September 30, 2015. Revolving Credit Facilities The Company maintains an unsecured revolving credit facility with a syndicate of financial institutions, arranged by J.P. Morgan Securities, LLC and Wells Fargo Securities, LLC (the “Unsecured Credit Facility”), which was amended in April 2015. The Unsecured Credit Facility provides for borrowings of up to $750 million, if certain financial covenants are maintained, two six-month options to extend the maturity to June 2020 upon the Company’s request and an accordion feature for expansion of availability up to $1.25 billion, provided that new or existing lenders agree to the existing terms of the facility and increase their commitment level. The Unsecured Credit Facility includes a competitive bid option on periodic interest rates for up to 50% of the facility. The Unsecured Credit Facility also provides for an annual facility fee, which was 20 basis points on the entire facility at September 30, 2015. The Unsecured Credit Facility also allows for certain foreign currency-denominated borrowings. The Company also maintains a $50 million unsecured revolving credit facility with PNC Bank, National Association (the “PNC Facility” and, together with the Unsecured Credit Facility, the “Revolving Credit Facilities”). The PNC Facility was also amended in April 2015 to reflect terms consistent with those contained in the Unsecured Credit Facility. The Company’s borrowings under the Revolving Credit Facilities bear interest at variable rates at the Company’s election, based on either (i) the prime rate plus a specified spread (0.15% at September 30, 2015), as defined in the respective facility, or (ii) LIBOR plus a specified spread (1.0% at September 30, 2015). The specified spreads vary depending on the Company’s long-term senior unsecured debt rating from Moody’s Investors Services (“Moody’s”) and Standard & Poor’s Financial Services LLC (“S&P”). The Company is required to comply with certain covenants under the Revolving Credit Facilities relating to total outstanding indebtedness, secured indebtedness, maintenance of unencumbered real estate assets and fixed charge coverage. The Company was in compliance with these covenants at September 30, 2015. Unsecured Term Loan In April 2015, the Company entered into a $400 million unsecured term loan with Wells Fargo Bank, National Association, as administrative agent, and PNC Bank, National Association, as syndication agent (the “Unsecured Term Loan”). The Unsecured Term Loan has a maturity date of April 2017, with three one-year borrower options to extend upon the Company’s request, provided certain conditions are satisfied. The Company may increase the amount of the facility provided that lenders agree to certain terms. The outstanding principal amount under this credit facility may not exceed $600 million. The Unsecured Term Loan bears interest at variable rates based on LIBOR as defined in the loan agreements plus a specified spread based on the Company’s long-term senior unsecured debt rating (1.1% at September 30, 2015). The Company is required to comply with covenants similar to those contained in the Revolving Credit Facilities. The Company was in compliance with these covenants at September 30, 2015.

Senior Notes

Senior Notes	9 Months Ended
	Sep. 30, 2015
Revolving Credit Facilities and Term Loans	6. Revolving Credit Facilities and Term Loans The following table discloses certain information regarding the Company’s Revolving Credit Facilities (as defined below) and term loans (in millions): Carrying Value at September 30, 2015 Weighted-Average Interest Rate (A) September 30, 2015 Maturity Date Unsecured indebtedness: Unsecured Credit Facility $ 385.0 1.2% June 2019 PNC Facility 10.0 1.2% June 2019 Unsecured Term Loan 300.0 1.3% April 2017 Secured indebtedness: Secured Term Loan 200.0 1.5% April 2017 (A) Interest rate on variable-rate debt calculated using the base rate and spreads in effect at September 30, 2015. Revolving Credit Facilities The Company maintains an unsecured revolving credit facility with a syndicate of financial institutions, arranged by J.P. Morgan Securities, LLC and Wells Fargo Securities, LLC (the “Unsecured Credit Facility”), which was amended in April 2015. The Unsecured Credit Facility provides for borrowings of up to $750 million, if certain financial covenants are maintained, two six-month options to extend the maturity to June 2020 upon the Company’s request and an accordion feature for expansion of availability up to $1.25 billion, provided that new or existing lenders agree to the existing terms of the facility and increase their commitment level. The Unsecured Credit Facility includes a competitive bid option on periodic interest rates for up to 50% of the facility. The Unsecured Credit Facility also provides for an annual facility fee, which was 20 basis points on the entire facility at September 30, 2015. The Unsecured Credit Facility also allows for certain foreign currency-denominated borrowings. The Company also maintains a $50 million unsecured revolving credit facility with PNC Bank, National Association (the “PNC Facility” and, together with the Unsecured Credit Facility, the “Revolving Credit Facilities”). The PNC Facility was also amended in April 2015 to reflect terms consistent with those contained in the Unsecured Credit Facility. The Company’s borrowings under the Revolving Credit Facilities bear interest at variable rates at the Company’s election, based on either (i) the prime rate plus a specified spread (0.15% at September 30, 2015), as defined in the respective facility, or (ii) LIBOR plus a specified spread (1.0% at September 30, 2015). The specified spreads vary depending on the Company’s long-term senior unsecured debt rating from Moody’s Investors Services (“Moody’s”) and Standard & Poor’s Financial Services LLC (“S&P”). The Company is required to comply with certain covenants under the Revolving Credit Facilities relating to total outstanding indebtedness, secured indebtedness, maintenance of unencumbered real estate assets and fixed charge coverage. The Company was in compliance with these covenants at September 30, 2015. Unsecured Term Loan In April 2015, the Company entered into a $400 million unsecured term loan with Wells Fargo Bank, National Association, as administrative agent, and PNC Bank, National Association, as syndication agent (the “Unsecured Term Loan”). The Unsecured Term Loan has a maturity date of April 2017, with three one-year borrower options to extend upon the Company’s request, provided certain conditions are satisfied. The Company may increase the amount of the facility provided that lenders agree to certain terms. The outstanding principal amount under this credit facility may not exceed $600 million. The Unsecured Term Loan bears interest at variable rates based on LIBOR as defined in the loan agreements plus a specified spread based on the Company’s long-term senior unsecured debt rating (1.1% at September 30, 2015). The Company is required to comply with covenants similar to those contained in the Revolving Credit Facilities. The Company was in compliance with these covenants at September 30, 2015.
Senior Notes [Member]
Revolving Credit Facilities and Term Loans	7 . Senior Notes In January 2015, the Company issued $500.0 million aggregate principal amount of 3.625% senior unsecured notes due February 2025. Net proceeds from the issuance were used

Financial Instruments

Financial Instruments	9 Months Ended
	Sep. 30, 2015
Fair Value Disclosures [Abstract]
Financial Instruments	8. Financial Instruments The following methods and assumptions were used by the Company in estimating fair value disclosures of financial instruments: Measurement of Fair Value At September 30, 2015, the Company used pay-fixed interest rate swaps to manage its exposure to changes in benchmark interest rates (the “Swaps”). The estimated fair values were determined using the market standard methodology of netting the discounted fixed cash payments and the discounted expected variable cash receipts. The variable cash receipts are based on an expectation of interest rates (forward curves) derived from observable market interest rate curves. In addition, credit valuation adjustments, which consider the impact of any credit enhancements to the contracts, are incorporated in the fair values to account for potential non-performance risk, including the Company’s own non-performance risk and the respective counterparty's non-performance risk. The Company determined that the significant inputs used to value its derivatives fell within Level 2 of the fair value hierarchy. Items Measured at Fair Value on a Recurring Basis The Company maintains interest rate swap agreements (included in Other Liabilities) and marketable equity securities (included in Other Assets), which include investments in the Company’s elective deferred compensation plan as of September 30, 2015 and December 31, 2014. The following table presents information about the Company’s financial assets and liabilities and indicates the fair value hierarchy of the valuation techniques used by the Company to determine such fair value (in millions): Fair Value Measurements Assets (Liabilities): Level 1 Level 2 Level 3 Total September 30, 2015 Derivative Financial Instruments $ — $ (3.3 ) $ — $ (3.3 ) Marketable Securities $ 3.1 $ — $ — $ 3.1 December 31, 2014 Derivative Financial Instruments $ — $ (4.3 ) $ — $ (4.3 ) Marketable Securities $ 3.7 $ — $ — $ 3.7 Other Fair Value Instruments Investments in unconsolidated joint ventures are considered financial assets. See discussion of fair value considerations of joint venture investments in Note 11. Cash and Cash Equivalents, Restricted Cash, Accounts Receivable, Accounts Payable, Accrued Expenses and Other Liabilities The carrying amounts reported in the consolidated balance sheets for these financial instruments approximated fair value because of their short-term maturities. Notes Receivable and Advances to Affiliates The fair value is estimated using a discounted cash flow analysis in which the Company uses unobservable inputs such as market interest rates determined by the loan to value and market capitalization rates related to the underlying collateral at which management believes similar loans would be made and classified as Level 3 in the fair value hierarchy. The fair value of these notes was approximately $361.3 million and $362.2 million at September 30, 2015 and December 31, 2014, respectively, as compared to the carrying amounts of $358.1 million and $358.2 million, respectively. The fair value of loans to affiliates has been estimated by management based upon its assessment of the interest rate, credit risk and performance risk. Debt The fair market value of senior notes, except senior convertible notes, is determined using the trading price of the Company’s public debt. The fair market value for all other debt is estimated using a discounted cash flow technique that incorporates future contractual interest and principal payments and a market interest yield curve with adjustments for duration, optionality and risk profile, including the Company’s non-performance risk and loan to value. The Company’s senior notes, except senior convertible notes, and all other debt including senior convertible notes are classified as Level 2 and Level 3, respectively, in the fair value hierarchy. Considerable judgment is necessary to develop estimated fair values of financial instruments. Accordingly, the estimates presented herein are not necessarily indicative of the amounts the Company could realize on disposition of the financial instruments. Debt instruments at September 30, 2015 and December 31, 2014, with carrying values that are different than estimated fair values, are summarized as follows (in thousands): September 30, 2015 December 31, 2014 Carrying Amount Fair Value Carrying Amount Fair Value Senior Notes $ 3,118,656 $ 3,276,118 $ 2,765,893 $ 3,011,374 Revolving Credit Facilities and Term Loans 895,000 896,899 779,009 786,922 Mortgage Indebtedness 1,209,921 1,239,663 1,689,805 1,741,855 $ 5,223,577 $ 5,412,680 $ 5,234,707 $ 5,540,151 Risk Management Objective of Using Derivatives The Company is exposed to certain risks arising from both its business operations and economic conditions. The Company principally manages its exposures to a wide variety of business and operational risks through management of its core business activities. The Company manages economic risks, including interest rate, liquidity and credit risk, primarily by managing the amount, sources and duration of its debt funding and, from time to time, through the use of derivative financial instruments. Specifically, the Company enters into derivative financial instruments to manage exposures that arise from business activities that result in the receipt or payment of future known and uncertain cash amounts, the values of which are determined by interest rates. The Company’s derivative financial instruments are used to manage differences in the amount, timing and duration of the Company’s known or expected cash receipts and its known or expected cash payments principally related to the Company’s investments and borrowings. Cash Flow Hedges of Interest Rate Risk The Company’s objectives in using interest rate derivatives are to manage its exposure to interest rate movements. To accomplish this objective, the Company generally uses Swaps as part of its interest rate risk management strategy. The Swaps designated as cash flow hedges involve the receipt of variable-rate amounts from a counterparty in exchange for the Company making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. As of September 30, 2015, the Company had one effective Swap with a notional amount of $78.9 million, expiring in September 2017, which converts variable rate mortgage debt to a fixed rate of 2.8%. The aggregate fair value of the Swap was a liability of $3.3 million, which is included in other liabilities on the consolidated balance sheet. As of December 31, 2014, the Company had nine Swaps with an aggregate notional amount of $530.0 million. The aggregate fair value of the Swaps was a net liability of $4.3 million, which is included in other assets and other liabilities on the consolidated balance sheet. All components of the Swaps were included in the assessment of hedge effectiveness. The Company expects to reflect within the next 12 months, an increase to interest expense (and a corresponding decrease to earnings) of approximately $2.7 million, which includes amortization of previously settled interest rate contracts. The effective portion of changes in the fair value of derivatives designated, and that qualify, as cash flow hedges is recorded in Accumulated Other Comprehensive Loss (“OCI”) and is subsequently reclassified into earnings, as interest expense, in the period that the hedged forecasted transaction affects earnings. The Company is exposed to credit risk in the event of non-performance by the counterparties to the Swaps if the derivative position has a positive balance. The Company believes it mitigates its credit risk by entering into Swaps with major financial institutions. The Company continually monitors and actively manages interest costs on its variable-rate debt portfolio and may enter into additional interest rate swap positions or other derivative interest rate instruments based on market conditions. The Company has not entered, and does not plan to enter, into any derivative financial instruments for trading or speculative purposes. Credit Risk-Related Contingent Features The Company has agreements with each of its Swap counterparties that contain a provision whereby if the Company defaults on certain of its unsecured indebtedness the Company could also be declared in default on its Swaps, resulting in an acceleration of payment under the Swaps.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2015
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	9. Commitments and Contingencies The Company and its subsidiaries are subject to various legal proceedings, which, taken together, are not expected to have a material adverse effect on the Company. The Company is also subject to a variety of legal actions for personal injury or property damage arising in the ordinary course of its business, most of which are covered by insurance. While the resolution of all matters cannot be predicted with certainty, management believes that the final outcome of such legal proceedings and claims will not have a material adverse effect on the Company’s liquidity, financial position or results of operations.

Other Comprehensive Loss

Other Comprehensive Loss	9 Months Ended
	Sep. 30, 2015
Equity [Abstract]
Other Comprehensive Loss	1 0 . Other Comprehensive Loss The changes in Accumulated OCI by component are as follows (in thousands): Gains and Losses on Cash Flow Hedges Foreign Currency Items Total Balance, December 31, 2014 $ (8,485 ) $ 1,133 $ (7,352 ) Other comprehensive income (loss) before reclassifications 417 (728 ) (311 ) Change in cash flow hedges reclassed to earnings (A) 1,001 — 1,001 Net current-period other comprehensive income (loss) 1,418 (728 ) 690 Balance, September 30, 2015 $ (7,067 ) $ 405 $ (6,662 ) (A) Includes Other Income (Expense), Net of $0.6 million and amortization classified in Interest Expense of $0.5 million, offset by amortization classified in Equity in Net Income of Joint Ventures of $0.1 million, in the Company’s consolidated statement of operations for the nine months ended September 30, 2015, which was previously recognized in Accumulated OCI.

Impairment Charges and Impairme

Impairment Charges and Impairment of Joint Venture Investments	9 Months Ended
	Sep. 30, 2015
Asset Impairment Charges [Abstract]
Impairment Charges and Impairment of Joint Venture Investments	11. Impairment Charges and Impairment of Joint Venture Investments The Company recorded impairment charges during the three and nine months ended September 30, 2015 and 2014, based on the difference between the carrying value of the assets or investments and the estimated fair market value as follows (in millions): Three Months Nine Months Ended September 30, Ended September 30, 2015 2014 2015 2014 Assets marketed for sale or assets sold (A) $ — $ — $ 179.7 $ 3.0 Undeveloped land previously held for development (B) — 1.4 99.3 15.1 Total continuing operations $ — $ 1.4 $ 279.0 $ 18.1 Sold assets – discontinued operations — 0.4 — 8.9 Joint venture investments (C) — — — 9.1 Total impairment charges $ — $ 1.8 $ 279.0 $ 36.1 (A) In March 2015, the Company’s new senior management team initiated changes in the Company’s investment strategy. Senior management took steps to accelerate the Company’s portfolio quality improvement initiative, which it intends to accomplish in part through the acceleration of disposition plans of lower quality assets that do not have strong long-term growth profiles. As a result, in connection with the preparation of the March 31, 2015 Quarterly Report on Form 10-Q, the Company concluded that the assets were impaired. The Company recorded impairment charges on 25 operating shopping centers that management identified as disposition candidates over the 12 to 24-month period following March 2015. (B) Amounts reported in the nine months ended September 30, 2015, primarily related to five parcels of land previously held for future development. The asset impairments were triggered primarily by the decision made by the Company’s senior management in the first quarter of 2015 to sell the land and no longer consider development. (C) Represents “other than temporary impairment” charges on unconsolidated joint venture investments. Amount recorded in 2014 represents a charge on a joint venture development project in Canada. The impairment was triggered by changes in the timing of the project development assumptions that occurred in the first quarter of 2014. Items Measured at Fair Value on a Non-Recurring Basis For a description of the Company’s methodology on determining the fair value, refer to Note 12 of the Company’s Financial Statements filed on its Annual Report on Form 10-K for the year ended December 31, 2014, as amended. The following table presents information about the Company’s impairment charges on both financial and nonfinancial assets that were measured on a fair value basis for the nine months ended September 30, 2015, and the year ended December 31, 2014. The table also indicates the fair value hierarchy of the valuation techniques used by the Company to determine such fair value (in millions). Fair Value Measurements Level 1 Level 2 Level 3 Total Total Losses September 30, 2015 Long-lived assets held and used $ — $ — $ 407.1 $ 407.1 $ 279.0 December 31, 2014 Long-lived assets held and used — — 141.2 141.2 38.1 Unconsolidated joint venture investments — — 6.4 6.4 30.7 The following table presents quantitative information about the significant unobservable inputs used by the Company to determine the fair value of non-recurring items (in millions, except price per square foot which is in thousands): Quantitative Information about Level 3 Fair Value Measurements Fair Value at Range September 30, December 31, Valuation Unobservable Description 2015 2014 Technique Inputs 2015 2014 Impairment of consolidated assets $ 33.8 $ 74.2 Indicative Bid (A) Contracted Price Indicative Bid (A) Contracted Price N/A N/A $ 287.6 $ 67.0 Income Capitalization Approach (B) Sales Comparison Approach Market Capitalization Rate 8% – 8% Price per Square Foot $10–$40 N/A $ 51.5 N/A Indicative Bid (A) Indicative Bid (A) N/A N/A Discounted Cash Flow Discount Rate 10% – N/A Terminal Capitalization Rate 8% – N/A $ 34.2 N/A Indicative Bid (A) Sales Comparison Approach Indicative Bid (A) N/A N/A Impairment of joint venture investments N/A $ 6.4 Discounted Cash Flow Discount Rate N/A 15% Terminal Capitalization Rate N/A 6% (A) Fair value measurements based upon indicative bids were developed by third-party sources (including offers and comparable sales values), subject to the Company’s corroboration for reasonableness. The Company does not have access to certain unobservable inputs used by these third parties to determine these estimated fair values. (B) Vacant space in certain assets was valued based on a price per square foot.

Disposition of Real Estate and

Disposition of Real Estate and Discontinued Operations	9 Months Ended
	Sep. 30, 2015
Discontinued Operations And Disposal Groups [Abstract]
Disposition of Real Estate and Discontinued Operations	1 2 . Disposition of Real Estate and Discontinued Operations Disposition of Real Estate During the nine months ended September 30, 2015, the Company sold 22 properties and additional non-income producing assets for total proceeds of $297.3 million. These sales have not been classified as discontinued operations in the financial statements, as these sales do not represent a strategic shift in the Company’s business plan (Note 1). Discontinued Operations The Company sold 35 properties in 2014 that are included in discontinued operations. The following table provides a summary of revenues and expenses from properties included in discontinued operations prior to the newly-adopted guidance for reporting discontinued operations (Note 1) (in thousands): Three Months Nine Months Ended September 30, 2014 Revenues $ 10,785 $ 36,367 Expenses: Operating expenses 2,773 9,784 Impairment charges 365 8,877 Interest, net 2,670 9,176 Depreciation and amortization 4,513 14,891 10,321 42,728 Income (loss) from discontinued operations 464 (6,361 ) Gain on disposition of real estate, net of tax 57,105 74,287 Income from discontinued operations $ 57,569 $ 67,926

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
Earnings Per Share	1 3 . Earnings Per Share The following table provides a reconciliation of net income (loss) from continuing operations and the number of common shares used in the computations of “basic” earnings per share (“EPS”), which utilizes the weighted-average number of common shares outstanding without regard to dilutive potential common shares, and “diluted” EPS, which includes all such shares (in thousands, except per share amounts): Three Months Nine Months Ended September 30, Ended September 30, 2015 2014 2015 2014 Numerators – Basic and Diluted Continuing Operations: Income (loss) from continuing operations $ 18,030 $ 6,650 $ (242,198 ) $ 54,426 Plus: Gain on disposition of real estate 41,793 2,262 78,154 2,645 Plus: (Income) loss attributable to non-controlling interests (268 ) 2,125 (1,590 ) 1,623 Less: Write-off of preferred share original issuance costs — — — (1,943 ) Less: Preferred dividends (5,594 ) (5,594 ) (16,781 ) (18,460 ) Less: Earnings attributable to unvested shares and operating partnership units (221 ) (463 ) (1,075 ) (1,238 ) Income (loss) from continuing operations 53,740 4,980 (183,490 ) 37,053 Discontinued Operations: Income from discontinued operations — 57,569 — 67,926 Plus: Loss attributable to non-controlling interests — — — 1,362 Net income (loss) attributable to common shareholders after allocation to participating securities $ 53,740 $ 62,549 $ (183,490 ) $ 106,341 Denominators – Number of Shares Basic — 361,107 358,025 360,341 357,824 Effect of dilutive securities: Senior convertible notes 2,085 — — — Stock options 379 487 — 468 Diluted — 363,571 358,512 360,341 358,292 Basic Earnings Per Share: Income (loss) from continuing operations attributable to common shareholders $ 0.15 $ 0.01 $ (0.51 ) $ 0.10 Income from discontinued operations attributable to common shareholders — 0.16 — 0.20 Net income (loss) attributable to common shareholders $ 0.15 $ 0.17 $ (0.51 ) $ 0.30 Diluted Earnings Per Share: Income (loss) from continuing operations attributable to common shareholders $ 0.15 $ 0.01 $ (0.51 ) $ 0.10 Income from discontinued operations attributable to common shareholders — 0.16 — 0.20 Net income (loss) attributable to common shareholders $ 0.15 $ 0.17 $ (0.51 ) $ 0.30 The following potentially dilutive securities were considered in the calculation of EPS: Potentially Dilutive Securities · The Company’s senior convertible notes due 2040 (“Convertible Notes”) were not included in the computation of diluted EPS for the nine months ended September 30, 2015, due to the Company’s loss from continuing operations and for the three and nine months ended September 30, 2014, because the Company’s common share price did not exceed the conversion price in these periods. The Convertible Notes are considered a dilutive security for the computation of diluted EPS for the three months ended September 30, 2015, because the average price of the Company’s stock for the quarter ended exceeded the conversion price at September 30, 2015. In accordance with the terms specified in the governing documents, the Convertible Notes are convertible into common shares of the Company during the subsequent quarter if the Company’s trading price exceeds 125% of the conversion rate ($14.45 at September 30, 2015), for at least 20 trading days (whether consecutive or not consecutive) in the period of 30 consecutive trading days ending on the last trading day of the fiscal quarter. The Convertible Notes were not convertible at September 30, 2015. In October 2015, the Company commenced an offer to purchase the Convertible Notes per the terms of such notes and also called for redemption the balance of the outstanding Convertible Notes (Note 15). · Shares subject to issuance under the Company’s 2013 VSEP were not considered in the computation of diluted EPS for the three and nine months ended September 30, 2015 and 2014 because the calculation was anti-dilutive. · At September 30, 2015 and 2014, the Company had 398,701 and 1,441,890 OP Units outstanding, respectively. The exchange into common shares associated with OP Units was not included in the computation of diluted shares outstanding for all periods presented because the effect of assuming conversion was anti-dilutive. Common Shares Common share dividends declared per share were as follows: Three Months Nine Months Ended September 30, Ended September 30, 2015 2014 2015 2014 Common share dividends declared per share $ 0.1725 $ 0.155 $ 0.5175 $ 0.465 Non-controlling Interests In July 2015, 1,043,189 OP Units were converted into an equivalent number of common shares of the Company. This transaction was treated as a purchase of a non-controlling interest.

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2015
Segment Reporting [Abstract]
Segment Information	1 4 . Segment Information At September 30, 2015, the Company had two reportable operating segments: shopping centers and loan investments. The Company’s chief operating decision maker may review operational and financial data on a property basis and does not differentiate properties on a geographical basis for purposes of allocating resources or capital. The Company evaluates individual property performance primarily based on net operating income before depreciation, amortization and certain nonrecurring items. Each consolidated shopping center is considered a separate operating segment; however, each shopping center on a stand-alone basis represents less than 10% of the revenues, profit or loss, and assets of the combined reported operating segment and meets the majority of the aggregation criteria under the applicable standard. The tables below present information about the Company’s reportable operating segments and reflect the impact of discontinued operations in 2014 (Note 12) (in thousands): Three Months Ended September 30, 2015 Shopping Centers Loan Investments Other Total Total revenues $ 257,109 $ 26 $ 257,135 Rental operation expenses (73,280 ) (68 ) (73,348 ) Net operating income (loss) 183,829 (42 ) 183,787 Depreciation and amortization (97,155 ) (97,155 ) Interest income 7,331 7,331 Other income (expense), net $ (240 ) (240 ) Unallocated expenses (A) (76,341 ) (76,341 ) Equity in net income of joint ventures 648 648 Income from continuing operations $ 18,030 Three Months Ended September 30, 2014 Shopping Centers Loan Investments Other Total Total revenues $ 245,319 $ 36 $ 245,355 Rental operation expenses (71,385 ) — (71,385 ) Net operating income 173,934 36 173,970 Impairment charges (1,448 ) (1,448 ) Depreciation and amortization (97,270 ) (97,270 ) Interest income 2,652 2,652 Other income (expense), net $ (2,758 ) (2,758 ) Unallocated expenses (A) (76,100 ) (76,100 ) Equity in net income of joint ventures 3,620 3,620 Gain on sale and change in control of interests, net 3,984 3,984 Income from continuing operations $ 6,650 Nine Months Ended September 30, 2015 Shopping Centers Loan Investments Other Total Total revenues $ 773,162 $ 121 $ 773,283 Rental operation expenses (223,425 ) (104 ) (223,529 ) Net operating income 549,737 17 549,754 Impairment charges (279,021 ) (279,021 ) Depreciation and amortization (299,470 ) (299,470 ) Interest income 21,703 21,703 Other income (expense), net $ (1,300 ) (1,300 ) Unallocated expenses (A) (243,987 ) (243,987 ) Equity in net income of joint ventures 2,351 2,351 Gain on sale and change in control of interests, net 7,772 7,772 Loss from continuing operations $ (242,198 ) As of September 30, 2015: Total gross real estate assets $ 10,155,375 $ 10,155,375 Notes receivable, net (B) $ 357,648 $ (310,218 ) $ 47,430 Nine Months Ended September 30, 2014 Shopping Centers Loan Investments Other Total Total revenues $ 728,743 $ 164 $ 728,907 Rental operation expenses (210,973 ) (51 ) (211,024 ) Net operating income 517,770 113 517,883 Impairment charges (18,119 ) (18,119 ) Depreciation and amortization (296,093 ) (296,093 ) Interest income 8,938 8,938 Other income (expense), net $ (11,041 ) (11,041 ) Unallocated expenses (A) (236,097 ) (236,097 ) Equity in net income of joint ventures 9,755 486 10,241 Impairment of joint venture investments (9,100 ) (9,100 ) Gain on sale and change in control of interests, net 87,814 87,814 Income from continuing operations $ 54,426 As of September 30, 2014: Total gross real estate assets $ 10,496,860 $ 10,496,860 Notes receivable, net (B) $ 91,455 $ (33,810 ) $ 57,645 (A) Unallocated expenses consist of General and Administrative expenses, Interest Expense and Tax Expense/Benefit as listed in the consolidated statements of operations. (B) Amount includes loans to affiliates classified in Investments in and Advances to Joint Ventures on the consolidated balance sheets.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2015
Subsequent Events [Abstract]
Subsequent Events	1 5 . Subsequent Events In October 2015, the Company issued $400.0 million aggregate principal amount of 4.25% senior unsecured notes due February 2026. The Company may use all or a portion of the net proceeds from the issuance of the 4.25% senior unsecured notes due 2026, together with cash on hand, to satisfy the cash obligations in connection with the repurchase, redemption or conversion of the $350 million Convertible Notes, as described below. Furthermore, the Company may use all or a portion of the net proceeds from the issuance of the 4.25% senior unsecured notes due 2026 to repay debt under the Unsecured Credit Facility and for general corporate purposes, which may include the repayment of secured and unsecured debt from time to time. Also in October 2015, the Company commenced an offer to purchase the Convertible Notes for cash in an amount equal to the total aggregate principal amount of the Convertible Notes on November 15, 2015, as required under the terms of the Convertible Notes. Additionally, the Company called for redemption the balance of the outstanding Convertible Notes, to occur on November 20, 2015. Calling the Company’s Convertible Notes for redemption triggered a right of conversion for the holders of the Convertible Notes, whereby such holders may require the Company to deliver to them (i) cash in an amount up to the principal amount of Convertible Notes being converted, and (ii) to the extent that the applicable conversion value exceeds the principal amount of the Convertible Notes being converted, such excess amount in cash, common shares or a combination thereof, at the Company’s election. The Company has elected to satisfy any such excess by delivering common shares.

Nature of Business and Financ23

Nature of Business and Financial Statement Presentation (Policies)	9 Months Ended
	Sep. 30, 2015
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Use of Estimates in Preparation of Financial Statements	Use of Estimates in Preparation of Financial Statements The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities and the reported amounts of revenues and expenses during the year. Actual results could differ from those estimates.
Unaudited Interim Financial Statements	Unaudited Interim Financial Statements These financial statements have been prepared by the Company in accordance with generally accepted accounting principles for interim financial information and the applicable rules and regulations of the Securities and Exchange Commission. Accordingly, they do not include all information and footnotes required by generally accepted accounting principles for complete financial statements. However, in the opinion of management, the interim financial statements include all adjustments, consisting of only normal recurring adjustments, necessary for a fair statement of the results of the periods presented. The results of operations for the three and nine months ended September 30, 2015 and 2014, are not necessarily indicative of the results that may be expected for the full year. These condensed consolidated financial statements should be read in conjunction with the Company’s audited financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014, as amended.
Principles of Consolidation	Principles of Consolidation The condensed consolidated financial statements include the results of the Company and all entities in which the Company has a controlling interest or has been determined to be the primary beneficiary of a variable interest entity. All significant inter-company balances and transactions have been eliminated in consolidation. Investments in real estate joint ventures and companies in which the Company has the ability to exercise significant influence, but does not have financial or operating control, are accounted for using the equity method of accounting. Accordingly, the Company’s share of the earnings (or loss) of these joint ventures and companies is included in consolidated net income.
Deferred Tax Assets and Tax Liabilities	Deferred Tax Assets and Tax Liabilities – Puerto Rico Tax Restructuring In the first quarter of 2015, in accordance with temporary legislation of the Puerto Rico Internal Revenue Code, the Company restructured the ownership of its 14 assets in Puerto Rico and made a voluntary election to prepay $20.2 million of taxes related to the built-in gains associated with the real estate assets. This election permitted the Company to step-up its tax basis in the Puerto Rican assets to the current estimated fair value while reducing its effective capital gains tax rate from 29% to 12%. Further, the Company converted the ownership to a Puerto Rico Real Estate Investment Trust (“REIT”) structure, which reduced the effective tax on the operational activity from 39% to 10%. The net balance sheet impact to the financial statements related to the restructuring was $16.8 million. In the first quarter of 2015, the Company recorded a tax expense of $3.4 million related to the 2% effective tax rate spread between the 12% tax payment and the revalued deferred tax asset under the REIT structure using a 10% effective tax rate. Statements of Cash Flows and Supplemental Disclosure of Non-Cash Investing and Financing Information Non-cash investing and financing activities are summarized as follows (in millions): Nine Months Ended September 30, 2015 2014 Mortgages assumed from acquisitions $ 33.7 $ 293.3 Issuance of Operating Partnership Units ("OP Units") — 18.3 Redemption of OP Units 18.3 — Preferred equity interest and mezzanine loan applied to purchase price of acquired properties — 51.8 Elimination of a previously held equity interest 1.4 2.8 Reclassification adjustment of foreign currency translation — 21.4 Accounts payable related to construction in progress 43.9 31.3 Dividends declared 68.1 61.3 Write-off of preferred share original issuance costs — 1.9 Fee and Other Income Fee and other income was composed of the following (in millions): Three Months Nine Months Ended September 30, Ended September 30, 2015 2014 2015 2014 Management and other fee income $ 8.2 $ 7.6 $ 24.7 $ 23.7 Ancillary and other property income 4.7 6.3 13.5 18.4 Lease termination fees 0.7 0.7 2.3 4.1 Other 0.3 0.2 0.6 0.5 Total fee and other income $ 13.9 $ 14.8 $ 41.1 $ 46.7
New Accounting Standards	New Accounting Standards Adopted Discontinued Operations In April 2014, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update No. 2014-08 (“ASU 2014-08”), Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity, New Accounting Standards Revenue Recognition In May 2014, the FASB issued Accounting Standards Update No. 2014-09 (“ASU 2014-09”), Revenue from Contracts with Customers Debt Issuance Costs In April 2015, the FASB issued Accounting Standards Update No. 2015-03 (“ASU 2015-03”), Simplifying the Presentation of Debt Issuance Costs Business Combinations In September 2015, FASB issued guidance pertaining to entities that have reported provisional amounts for items in a business combination for which the accounting is incomplete by the end of the reporting period in which the combination occurs and during the measurement period have an adjustment to provisional amounts recognized. The guidance requires that an acquirer recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined. Any adjustments should be calculated as if the accounting had been completed at the acquisition date. The guidance is effective for public companies for fiscal years beginning after December 15, 2016, with early adoption permitted. Application of the guidance is prospective. The Company has not determined when it will adopt this guidance, nor what impact the adoption may have on its consolidated financial statements.

Nature of Business and Financ24

Nature of Business and Financial Statement Presentation (Tables)	9 Months Ended
	Sep. 30, 2015
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Non-cash Investing and Financing Activities	Non-cash investing and financing activities are summarized as follows (in millions): Nine Months Ended September 30, 2015 2014 Mortgages assumed from acquisitions $ 33.7 $ 293.3 Issuance of Operating Partnership Units ("OP Units") — 18.3 Redemption of OP Units 18.3 — Preferred equity interest and mezzanine loan applied to purchase price of acquired properties — 51.8 Elimination of a previously held equity interest 1.4 2.8 Reclassification adjustment of foreign currency translation — 21.4 Accounts payable related to construction in progress 43.9 31.3 Dividends declared 68.1 61.3 Write-off of preferred share original issuance costs — 1.9
Schedule of Fee and Other Income from Continuing Operations	Fee and other income was composed of the following (in millions): Three Months Nine Months Ended September 30, Ended September 30, 2015 2014 2015 2014 Management and other fee income $ 8.2 $ 7.6 $ 24.7 $ 23.7 Ancillary and other property income 4.7 6.3 13.5 18.4 Lease termination fees 0.7 0.7 2.3 4.1 Other 0.3 0.2 0.6 0.5 Total fee and other income $ 13.9 $ 14.8 $ 41.1 $ 46.7

Investments in and Advances t25

Investments in and Advances to Joint Ventures (Tables) - Unconsolidated Joint Ventures [Member]	9 Months Ended
	Sep. 30, 2015
Schedule Of Equity Method Investments [Line Items]
Condensed Combined Financial Information of Company's Unconsolidated Joint Venture Investments	At September 30, 2015 and December 31, 2014, the Company had ownership interests in various unconsolidated joint ventures that had an investment in 174 and 188 shopping center properties, respectively. Condensed combined financial information of the Company’s unconsolidated joint venture investments is as follows (in thousands): September 30, 2015 December 31, 2014 Condensed Combined Balance Sheets Land $ 1,319,519 $ 1,439,849 Buildings 3,457,212 3,854,585 Fixtures and tenant improvements 183,108 200,696 4,959,839 5,495,130 Less: Accumulated depreciation (799,161 ) (773,256 ) 4,160,678 4,721,874 Land held for development and construction in progress 52,215 55,698 Real estate, net 4,212,893 4,777,572 Cash and restricted cash 62,751 100,812 Receivables, net 52,903 80,508 Other assets 299,625 394,751 $ 4,628,172 $ 5,353,643 Mortgage debt $ 3,116,584 $ 3,552,764 Notes and accrued interest payable to the Company 2,926 144,831 Other liabilities 198,804 276,998 3,318,314 3,974,593 Redeemable preferred equity 310,763 305,310 Accumulated equity 999,095 1,073,740 $ 4,628,172 $ 5,353,643 Company's share of accumulated equity $ 125,103 $ 122,937 Redeemable preferred equity 310,763 305,310 Basis differentials (42,803 ) (12,954 ) Deferred development fees, net of portion related to the Company's interest (2,469 ) (2,562 ) Amounts payable to the Company 2,926 2,117 Investments in and Advances to Joint Ventures $ 393,520 $ 414,848
Condensed Combined Statements of Operations of Unconsolidated Joint Venture Investments	Three Months Nine Months Ended September 30, Ended September 30, 2015 2014 2015 2014 Condensed Combined Statements of Operations Revenues from operations $ 126,698 $ 108,334 $ 397,364 $ 356,975 Expenses from operations: Operating expenses 47,676 34,883 147,072 121,884 Impairment charges — — 448 600 Depreciation and amortization 49,949 31,435 158,168 107,165 Interest expense 33,202 37,667 107,698 129,514 Other (income) expense, net 589 173 1,173 2,964 131,416 104,158 414,559 362,127 (Loss) income before tax expense and discontinued operations (4,718 ) 4,176 (17,195 ) (5,152 ) Income tax expense (primarily Sonae Sierra Brasil), net — — — (6,565 ) (Loss) income from continuing operations (4,718 ) 4,176 (17,195 ) (11,717 ) Discontinued operations: Loss from discontinued operations — (12,906 ) — (17,090 ) Gain on disposition of real estate, net of tax — 4,713 — 28,224 Loss before (loss) gain on disposition of real estate, net (4,718 ) (4,017 ) (17,195 ) (583 ) (Loss) gain on disposition of real estate, net (2,626 ) 3,833 (4,197 ) 3,833 Net (loss) income $ (7,344 ) $ (184 ) $ (21,392 ) $ 3,250 Income attributable to non-controlling interests — — — (2,023 ) Net (loss) income attributable to unconsolidated joint ventures $ (7,344 ) $ (184 ) $ (21,392 ) $ 1,227 Company's share of equity in net income of joint ventures (A) $ 336 $ 3,316 $ 1,406 $ 9,483 Basis differential adjustments (B) 312 304 945 758 Equity in net income of joint ventures (A) $ 648 $ 3,620 $ 2,351 $ 10,241 ( A ) The Company did not record income or loss from those investments in which its investment basis was zero. As of March 13, 2015, the Company no longer had an interest in these assets. ( B ) The difference between the Company’s share of net income, as reported above, and the amounts included in the consolidated statements of operations is attributable to the amortization of basis differentials, the recognition of deferred gains and differences in gain (loss) on sale of certain assets recognized due to the basis differentials and other than temporary impairment charges.
Service Fees and Income Earned by Company's Unconsolidated Joint Ventures	Service fees and income earned by the Company through management, financing, leasing and development activities performed related to all of the Company’s unconsolidated joint ventures are as follows (in millions): Three Months Nine Months Ended September 30, Ended September 30, 2015 2014 2015 2014 Management and other fees $ 6.5 $ 5.9 $ 19.6 $ 18.2 Development fees and leasing commissions 1.6 1.4 4.8 4.9 Interest income 6.5 1.7 19.2 5.0

Acquisitions (Tables)

Acquisitions (Tables)	9 Months Ended
	Sep. 30, 2015
Business Combinations [Abstract]
Schedule of Business Acquisitions	In the nine months ended September 30, 2015, the Company acquired the following shopping centers (in millions): Location Date Acquired Purchase Price Face Value of Mortgage Debt Assumed Orange County, CA (A) March 2015 $ 49.2 $ 33.0 Orlando, FL April 2015 33.0 — Houston, TX June 2015 69.8 — (A) Acquired from joint venture partner (Note 2).
Schedule of Acquisition Cost of Shopping Centers	The fair value of the acquisitions was allocated as follows (in thousands): Weighted-Average Amortization Period (in Years) Land $ 51,617 N/A Buildings 97,702 (B) Tenant improvements 3,834 (B) In-place leases (including lease origination costs and fair market value of leases) (A) 11,325 7.9 Tenant relations 5,750 11.8 Other assets 1,252 N/A 171,480 Less: Mortgage debt assumed at fair value (33,735 ) N/A Less: Below-market leases (18,191 ) 17.8 Less: Other liabilities assumed (1,144 ) N/A Net assets acquired $ 118,410 (A) Includes above-market leases of $0.2 million. ( B ) Depreciated in accordance with the Company’s policy.
Consideration	Consideration: Cash (including debt repaid at closing) $ 102,730 Gain on Change in Control of Interests 14,279 Carrying value of previously held equity interest 1,401 Total consideration $ 118,410
Unaudited Supplemental to Pro Forma Operating Data	The following unaudited supplemental pro forma operating data is presented for the three months ended September 30, 2014, and the nine months ended September 30, 2015 and 2014, as if the acquisition of the interests in the properties acquired in 2015 and 2014 were completed on January 1, 2014. The Gain on Change in Control of Interests related to the acquisition from an unconsolidated joint venture was adjusted to the assumed acquisition date. The unaudited supplemental pro forma operating data is not necessarily indicative of what the actual results of operations of the Company would have been assuming the transactions had been completed as set forth above, nor do they purport to represent the Company’s results of operations for future periods (in thousands, except per share amounts): Three Months Nine Months Ended September 30, Ended September 30, (Unaudited) (Unaudited) 2014 2015 2014 Pro forma revenues $ 257,997 $ 777,417 $ 772,004 Pro forma income (loss) from continuing operations $ 208 $ (255,931 ) $ 57,104 Pro forma net income (loss) attributable to common shareholders $ 56,570 $ (196,148 ) $ 110,257 Basic earnings per share data: Net income (loss) attributable to common shareholders $ 0.16 $ (0.55 ) $ 0.30 Diluted earnings per share data: Net income (loss) attributable to common shareholders $ 0.16 $ (0.55 ) $ 0.30

Notes Receivable (Tables)

Notes Receivable (Tables)	9 Months Ended
	Sep. 30, 2015
Receivables [Abstract]
Components of Notes Receivable	Notes receivable consisted of the following (in thousands): September 30, 2015 December 31, 2014 Loans receivable $ 46,885 $ 52,444 Other 545 3,801 $ 47,430 $ 56,245
Loans Receivable on Real Estate	The following table reconciles the loans receivable on real estate for the nine months ended September 30, 2015 and 2014 (in thousands): 2015 2014 Balance at January 1 $ 52,444 $ 72,218 Additions: Interest — 810 Accretion of discount 730 689 Deductions: Payments of principal and interest (6,289 ) (347 ) Other — (20,550 ) Balance at September 30 $ 46,885 $ 52,820

Other Assets (Tables)

Other Assets (Tables)	9 Months Ended
	Sep. 30, 2015
Other Assets [Abstract]
Components of Other Assets	Other assets consist of the following (in thousands): September 30, 2015 December 31, 2014 Intangible assets: In-place leases, net $ 134,873 $ 160,351 Above-market leases, net 47,722 57,199 Tenant relations, net 140,551 171,666 Total intangible assets, net (A) 323,146 389,216 Other assets: Prepaid expenses 21,924 14,456 Other assets (B) 21,829 39,746 Deposits 8,400 8,024 Total other assets, net $ 375,299 $ 451,442 (A) The Company recorded amortization expense related to its intangibles, excluding above- and below- market leases, of $22.6 million and $25.2 million for the three months ended September 30, 2015 and 2014, respectively, and $71.2 million and $79.1 million for the nine months ended September 30, 2015 and 2014, respectively. (B) See discussion of deferred tax asset in Note 1. During the first quarter of 2015, in accordance with amended legislation of the Puerto Rico Internal Revenue Code, the Company elected and paid an additional $20.2 million as part of an overall tax restructuring.

Revolving Credit Facilities a29

Revolving Credit Facilities and Term Loans (Tables)	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
Information Regarding Company's Revolving Credit Facilities and Term Loans	The following table discloses certain information regarding the Company’s Revolving Credit Facilities (as defined below) and term loans (in millions): Carrying Value at September 30, 2015 Weighted-Average Interest Rate (A) September 30, 2015 Maturity Date Unsecured indebtedness: Unsecured Credit Facility $ 385.0 1.2% June 2019 PNC Facility 10.0 1.2% June 2019 Unsecured Term Loan 300.0 1.3% April 2017 Secured indebtedness: Secured Term Loan 200.0 1.5% April 2017 (A) Interest rate on variable-rate debt calculated using the base rate and spreads in effect at September 30, 2015.

Financial Instruments (Tables)

Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2015
Fair Value Disclosures [Abstract]
Items Measured at Fair Value on a Recurring Basis	The Company maintains interest rate swap agreements (included in Other Liabilities) and marketable equity securities (included in Other Assets), which include investments in the Company’s elective deferred compensation plan as of September 30, 2015 and December 31, 2014. The following table presents information about the Company’s financial assets and liabilities and indicates the fair value hierarchy of the valuation techniques used by the Company to determine such fair value (in millions): Fair Value Measurements Assets (Liabilities): Level 1 Level 2 Level 3 Total September 30, 2015 Derivative Financial Instruments $ — $ (3.3 ) $ — $ (3.3 ) Marketable Securities $ 3.1 $ — $ — $ 3.1 December 31, 2014 Derivative Financial Instruments $ — $ (4.3 ) $ — $ (4.3 ) Marketable Securities $ 3.7 $ — $ — $ 3.7
Debt Instruments with Carrying Values Different than Estimated Fair Values	Debt instruments at September 30, 2015 and December 31, 2014, with carrying values that are different than estimated fair values, are summarized as follows (in thousands): September 30, 2015 December 31, 2014 Carrying Amount Fair Value Carrying Amount Fair Value Senior Notes $ 3,118,656 $ 3,276,118 $ 2,765,893 $ 3,011,374 Revolving Credit Facilities and Term Loans 895,000 896,899 779,009 786,922 Mortgage Indebtedness 1,209,921 1,239,663 1,689,805 1,741,855 $ 5,223,577 $ 5,412,680 $ 5,234,707 $ 5,540,151

Other Comprehensive Loss (Table

Other Comprehensive Loss (Tables)	9 Months Ended
	Sep. 30, 2015
Equity [Abstract]
Changes in Accumulated OCI by Component	The changes in Accumulated OCI by component are as follows (in thousands): Gains and Losses on Cash Flow Hedges Foreign Currency Items Total Balance, December 31, 2014 $ (8,485 ) $ 1,133 $ (7,352 ) Other comprehensive income (loss) before reclassifications 417 (728 ) (311 ) Change in cash flow hedges reclassed to earnings (A) 1,001 — 1,001 Net current-period other comprehensive income (loss) 1,418 (728 ) 690 Balance, September 30, 2015 $ (7,067 ) $ 405 $ (6,662 ) (A) Includes Other Income (Expense), Net of $0.6 million and amortization classified in Interest Expense of $0.5 million, offset by amortization classified in Equity in Net Income of Joint Ventures of $0.1 million, in the Company’s consolidated statement of operations for the nine months ended September 30, 2015, which was previously recognized in Accumulated OCI.

Impairment Charges and Impair32

Impairment Charges and Impairment of Joint Venture Investments (Tables)	9 Months Ended
	Sep. 30, 2015
Asset Impairment Charges [Abstract]
Impairment Charges on Assets or Investments	The Company recorded impairment charges during the three and nine months ended September 30, 2015 and 2014, based on the difference between the carrying value of the assets or investments and the estimated fair market value as follows (in millions): Three Months Nine Months Ended September 30, Ended September 30, 2015 2014 2015 2014 Assets marketed for sale or assets sold (A) $ — $ — $ 179.7 $ 3.0 Undeveloped land previously held for development (B) — 1.4 99.3 15.1 Total continuing operations $ — $ 1.4 $ 279.0 $ 18.1 Sold assets – discontinued operations — 0.4 — 8.9 Joint venture investments (C) — — — 9.1 Total impairment charges $ — $ 1.8 $ 279.0 $ 36.1 (A) In March 2015, the Company’s new senior management team initiated changes in the Company’s investment strategy. Senior management took steps to accelerate the Company’s portfolio quality improvement initiative, which it intends to accomplish in part through the acceleration of disposition plans of lower quality assets that do not have strong long-term growth profiles. As a result, in connection with the preparation of the March 31, 2015 Quarterly Report on Form 10-Q, the Company concluded that the assets were impaired. The Company recorded impairment charges on 25 operating shopping centers that management identified as disposition candidates over the 12 to 24-month period following March 2015. (B) Amounts reported in the nine months ended September 30, 2015, primarily related to five parcels of land previously held for future development. The asset impairments were triggered primarily by the decision made by the Company’s senior management in the first quarter of 2015 to sell the land and no longer consider development. (C) Represents “other than temporary impairment” charges on unconsolidated joint venture investments. Amount recorded in 2014 represents a charge on a joint venture development project in Canada. The impairment was triggered by changes in the timing of the project development assumptions that occurred in the first quarter of 2014.
Impairment Charges Measured at Fair Value on Non-Recurring Basis	The following table presents information about the Company’s impairment charges on both financial and nonfinancial assets that were measured on a fair value basis for the nine months ended September 30, 2015, and the year ended December 31, 2014. The table also indicates the fair value hierarchy of the valuation techniques used by the Company to determine such fair value (in millions). Fair Value Measurements Level 1 Level 2 Level 3 Total Total Losses September 30, 2015 Long-lived assets held and used $ — $ — $ 407.1 $ 407.1 $ 279.0 December 31, 2014 Long-lived assets held and used — — 141.2 141.2 38.1 Unconsolidated joint venture investments — — 6.4 6.4 30.7
Summary of Significant Unobservable Inputs	The following table presents quantitative information about the significant unobservable inputs used by the Company to determine the fair value of non-recurring items (in millions, except price per square foot which is in thousands): Quantitative Information about Level 3 Fair Value Measurements Fair Value at Range September 30, December 31, Valuation Unobservable Description 2015 2014 Technique Inputs 2015 2014 Impairment of consolidated assets $ 33.8 $ 74.2 Indicative Bid (A) Contracted Price Indicative Bid (A) Contracted Price N/A N/A $ 287.6 $ 67.0 Income Capitalization Approach (B) Sales Comparison Approach Market Capitalization Rate 8% – 8% Price per Square Foot $10–$40 N/A $ 51.5 N/A Indicative Bid (A) Indicative Bid (A) N/A N/A Discounted Cash Flow Discount Rate 10% – N/A Terminal Capitalization Rate 8% – N/A $ 34.2 N/A Indicative Bid (A) Sales Comparison Approach Indicative Bid (A) N/A N/A Impairment of joint venture investments N/A $ 6.4 Discounted Cash Flow Discount Rate N/A 15% Terminal Capitalization Rate N/A 6% (A) Fair value measurements based upon indicative bids were developed by third-party sources (including offers and comparable sales values), subject to the Company’s corroboration for reasonableness. The Company does not have access to certain unobservable inputs used by these third parties to determine these estimated fair values. (B) Vacant space in certain assets was valued based on a price per square foot.

Disposition of Real Estate an33

Disposition of Real Estate and Discontinued Operations (Tables)	9 Months Ended
	Sep. 30, 2015
Discontinued Operations And Disposal Groups [Abstract]
Operating Results Related to Assets Sold	The following table provides a summary of revenues and expenses from properties included in discontinued operations prior to the newly-adopted guidance for reporting discontinued operations (Note 1) (in thousands): Three Months Nine Months Ended September 30, 2014 Revenues $ 10,785 $ 36,367 Expenses: Operating expenses 2,773 9,784 Impairment charges 365 8,877 Interest, net 2,670 9,176 Depreciation and amortization 4,513 14,891 10,321 42,728 Income (loss) from discontinued operations 464 (6,361 ) Gain on disposition of real estate, net of tax 57,105 74,287 Income from discontinued operations $ 57,569 $ 67,926

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
Computation of Company's Earnings Per Share (EPS) and Reconciliation of Net Income (Loss) from Continuing Operations and Number of Common Shares Used in Computations of "Basic" EPS and "Diluted" EPS	The following table provides a reconciliation of net income (loss) from continuing operations and the number of common shares used in the computations of “basic” earnings per share (“EPS”), which utilizes the weighted-average number of common shares outstanding without regard to dilutive potential common shares, and “diluted” EPS, which includes all such shares (in thousands, except per share amounts): Three Months Nine Months Ended September 30, Ended September 30, 2015 2014 2015 2014 Numerators – Basic and Diluted Continuing Operations: Income (loss) from continuing operations $ 18,030 $ 6,650 $ (242,198 ) $ 54,426 Plus: Gain on disposition of real estate 41,793 2,262 78,154 2,645 Plus: (Income) loss attributable to non-controlling interests (268 ) 2,125 (1,590 ) 1,623 Less: Write-off of preferred share original issuance costs — — — (1,943 ) Less: Preferred dividends (5,594 ) (5,594 ) (16,781 ) (18,460 ) Less: Earnings attributable to unvested shares and operating partnership units (221 ) (463 ) (1,075 ) (1,238 ) Income (loss) from continuing operations 53,740 4,980 (183,490 ) 37,053 Discontinued Operations: Income from discontinued operations — 57,569 — 67,926 Plus: Loss attributable to non-controlling interests — — — 1,362 Net income (loss) attributable to common shareholders after allocation to participating securities $ 53,740 $ 62,549 $ (183,490 ) $ 106,341 Denominators – Number of Shares Basic — 361,107 358,025 360,341 357,824 Effect of dilutive securities: Senior convertible notes 2,085 — — — Stock options 379 487 — 468 Diluted — 363,571 358,512 360,341 358,292 Basic Earnings Per Share: Income (loss) from continuing operations attributable to common shareholders $ 0.15 $ 0.01 $ (0.51 ) $ 0.10 Income from discontinued operations attributable to common shareholders — 0.16 — 0.20 Net income (loss) attributable to common shareholders $ 0.15 $ 0.17 $ (0.51 ) $ 0.30 Diluted Earnings Per Share: Income (loss) from continuing operations attributable to common shareholders $ 0.15 $ 0.01 $ (0.51 ) $ 0.10 Income from discontinued operations attributable to common shareholders — 0.16 — 0.20 Net income (loss) attributable to common shareholders $ 0.15 $ 0.17 $ (0.51 ) $ 0.30
Common Share Dividends Declared Per Share	Common share dividends declared per share were as follows: Three Months Nine Months Ended September 30, Ended September 30, 2015 2014 2015 2014 Common share dividends declared per share $ 0.1725 $ 0.155 $ 0.5175 $ 0.465

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2015
Segment Reporting [Abstract]
Company's Reportable Segments	The tables below present information about the Company’s reportable operating segments and reflect the impact of discontinued operations in 2014 (Note 12) (in thousands): Three Months Ended September 30, 2015 Shopping Centers Loan Investments Other Total Total revenues $ 257,109 $ 26 $ 257,135 Rental operation expenses (73,280 ) (68 ) (73,348 ) Net operating income (loss) 183,829 (42 ) 183,787 Depreciation and amortization (97,155 ) (97,155 ) Interest income 7,331 7,331 Other income (expense), net $ (240 ) (240 ) Unallocated expenses (A) (76,341 ) (76,341 ) Equity in net income of joint ventures 648 648 Income from continuing operations $ 18,030 Three Months Ended September 30, 2014 Shopping Centers Loan Investments Other Total Total revenues $ 245,319 $ 36 $ 245,355 Rental operation expenses (71,385 ) — (71,385 ) Net operating income 173,934 36 173,970 Impairment charges (1,448 ) (1,448 ) Depreciation and amortization (97,270 ) (97,270 ) Interest income 2,652 2,652 Other income (expense), net $ (2,758 ) (2,758 ) Unallocated expenses (A) (76,100 ) (76,100 ) Equity in net income of joint ventures 3,620 3,620 Gain on sale and change in control of interests, net 3,984 3,984 Income from continuing operations $ 6,650 Nine Months Ended September 30, 2015 Shopping Centers Loan Investments Other Total Total revenues $ 773,162 $ 121 $ 773,283 Rental operation expenses (223,425 ) (104 ) (223,529 ) Net operating income 549,737 17 549,754 Impairment charges (279,021 ) (279,021 ) Depreciation and amortization (299,470 ) (299,470 ) Interest income 21,703 21,703 Other income (expense), net $ (1,300 ) (1,300 ) Unallocated expenses (A) (243,987 ) (243,987 ) Equity in net income of joint ventures 2,351 2,351 Gain on sale and change in control of interests, net 7,772 7,772 Loss from continuing operations $ (242,198 ) As of September 30, 2015: Total gross real estate assets $ 10,155,375 $ 10,155,375 Notes receivable, net (B) $ 357,648 $ (310,218 ) $ 47,430 Nine Months Ended September 30, 2014 Shopping Centers Loan Investments Other Total Total revenues $ 728,743 $ 164 $ 728,907 Rental operation expenses (210,973 ) (51 ) (211,024 ) Net operating income 517,770 113 517,883 Impairment charges (18,119 ) (18,119 ) Depreciation and amortization (296,093 ) (296,093 ) Interest income 8,938 8,938 Other income (expense), net $ (11,041 ) (11,041 ) Unallocated expenses (A) (236,097 ) (236,097 ) Equity in net income of joint ventures 9,755 486 10,241 Impairment of joint venture investments (9,100 ) (9,100 ) Gain on sale and change in control of interests, net 87,814 87,814 Income from continuing operations $ 54,426 As of September 30, 2014: Total gross real estate assets $ 10,496,860 $ 10,496,860 Notes receivable, net (B) $ 91,455 $ (33,810 ) $ 57,645 (A) Unallocated expenses consist of General and Administrative expenses, Interest Expense and Tax Expense/Benefit as listed in the consolidated statements of operations. (B) Amount includes loans to affiliates classified in Investments in and Advances to Joint Ventures on the consolidated balance sheets.

Nature of Business and Financ36

Nature of Business and Financial Statement Presentation - Additional Information (Detail)	3 Months Ended				9 Months Ended
	Sep. 30, 2015USD ($)	Mar. 31, 2015USD ($)Assets	Dec. 31, 2014	Sep. 30, 2014USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)
Nature Of Business And Financial Statement Presentation [Line Items]
Tax expense	$ 528,000			$ (214,000)	$ 6,001,000	$ 1,113,000
Impact on net income due to adoption of new accounting pronouncement	$ 0				$ 0
Puerto Rico Tax Restructuring [Member]
Nature Of Business And Financial Statement Presentation [Line Items]
Number of assets owned | Assets		14
Prepay of taxes		$ 20,200,000
Effective tax rate on capital gains		12.00%	29.00%
Effective tax rate		10.00%	39.00%
Taxable REIT subsidiary activity		$ 16,800,000
Tax expense		$ 3,400,000
Effective tax rate spread		2.00%

Nature of Business and Financ37

Nature of Business and Financial Statement Presentation - Non-cash Investing and Financing Activities (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Other Significant Noncash Transactions [Line Items]
Mortgages assumed from acquisitions			$ 33,700	$ 293,300
Issuance of Operating Partnership Units ("OP Units")			0	18,300
Redemption of OP Units			18,300	0
Preferred equity interest and mezzanine loan applied to purchase price of acquired properties			0	51,800
Elimination of a previously held equity interest			1,400	2,800
Accounts payable related to construction in progress			43,900	31,300
Dividends declared	$ 68,059	$ 61,300	68,059	61,300	$ 61,468
Write-off of preferred share original issuance costs	$ 0	$ 0	0	1,943
Accumulated Other Comprehensive Loss
Other Significant Noncash Transactions [Line Items]
Reclassification adjustment of foreign currency translation			$ 0	$ 21,400

Nature of Business and Financ38

Nature of Business and Financial Statement Presentation - Schedule of Fee and Other Income from Continuing Operations (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Income Statement [Abstract]
Management and other fee income	$ 8,200	$ 7,600	$ 24,700	$ 23,700
Ancillary and other property income	4,700	6,300	13,500	18,400
Lease termination fees	700	700	2,300	4,100
Other	300	200	600	500
Total fee and other income	$ 13,862	$ 14,839	$ 41,092	$ 46,713

Investments in and Advances t39

Investments in and Advances to Joint Ventures - Additional Information (Detail) $ in Thousands	1 Months Ended		3 Months Ended		9 Months Ended
	Jun. 30, 2015USD ($)	Mar. 31, 2015Assets	Sep. 30, 2015USD ($)ShoppingCenter	Sep. 30, 2014USD ($)	Sep. 30, 2015USD ($)ShoppingCenter	Sep. 30, 2014USD ($)	Dec. 31, 2014ShoppingCenter
Schedule Of Equity Method Investments [Line Items]
Gain (loss) on change in control of interests			$ 0	$ 3,984	$ 7,772	$ 87,814
Property Management Company [Member]
Schedule Of Equity Method Investments [Line Items]
Gain (loss) on change in control of interests	$ (6,500)
Percentage of ownership interest transferred	50.00%
Unconsolidated Joint Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Number of properties | ShoppingCenter			174		174		188
Coventry II Fund [Member]
Schedule Of Equity Method Investments [Line Items]
Gain (loss) on change in control of interests					$ 14,300
Ownership interest in joint venture		80.00%
Percentage of ownership interest transferred		20.00%
Number of properties sold | Assets		21

Investments in and Advances t40

Investments in and Advances to Joint Ventures - Condensed Combined Financial Information of Company's Unconsolidated Joint Venture Investments (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Condensed Combined Balance Sheets
Land	$ 2,187,720	$ 2,208,468
Buildings	6,931,911	7,087,040
Fixtures and tenant improvements	709,548	645,035
Total real estate rental property	9,829,179	9,940,543
Less: Accumulated depreciation	(2,038,635)	(1,909,585)
Real estate rental property, net	7,790,544	8,030,958
Land held for development and construction in progress	326,196	395,242
Total real estate assets, net	8,116,740	8,426,200
Other assets	375,299	451,442
Total assets	9,155,479	9,541,895
Mortgage debt	1,209,921	1,689,805
Total liabilities	5,717,143	5,744,367
Total liabilities and equity	9,155,479	9,541,895
Company's share of accumulated equity	125,103	122,937
Redeemable preferred equity	310,763	305,310
Basis differentials	(42,803)	(12,954)
Deferred development fees, net of portion related to the Company's interest	(2,469)	(2,562)
Amounts payable to the Company	2,926	2,117
Investments in and Advances to Joint Ventures	393,520	414,848
Unconsolidated Joint Ventures [Member]
Condensed Combined Balance Sheets
Land	1,319,519	1,439,849
Buildings	3,457,212	3,854,585
Fixtures and tenant improvements	183,108	200,696
Total real estate rental property	4,959,839	5,495,130
Less: Accumulated depreciation	(799,161)	(773,256)
Real estate rental property, net	4,160,678	4,721,874
Land held for development and construction in progress	52,215	55,698
Total real estate assets, net	4,212,893	4,777,572
Cash and restricted cash	62,751	100,812
Receivables, net	52,903	80,508
Other assets	299,625	394,751
Total assets	4,628,172	5,353,643
Mortgage debt	3,116,584	3,552,764
Notes and accrued interest payable to the Company	2,926	144,831
Other liabilities	198,804	276,998
Total liabilities	3,318,314	3,974,593
Redeemable preferred equity	310,763	305,310
Accumulated equity	999,095	1,073,740
Total liabilities and equity	$ 4,628,172	$ 5,353,643

Investments in and Advances t41

Investments in and Advances to Joint Ventures - Condensed Combined Statements of Operations of Unconsolidated Joint Venture Investments (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Expenses from operations:
Operating expenses	$ 188,099	$ 189,643	$ 857,482	$ 584,114
Impairment charges	0	1,448	279,021	18,119
Depreciation and amortization	97,155	97,270	299,470	296,093
Interest expense	58,217	56,774	182,524	176,106
Other (income) expense, net	240	2,758	1,300	11,041
Income (loss) before tax (expense) benefit of taxable REIT subsidiaries and state franchise and income taxes	18,558	6,436	(236,197)	55,539
Income tax expense (primarily Sonae Sierra Brasil), net	(528)	214	(6,001)	(1,113)
Income (loss) from continuing operations	18,030	6,650	(242,198)	54,426
Discontinued operations:
Loss from discontinued operations		464		(6,361)
Gain on disposition of real estate, net of tax		57,105		74,287
Income (loss) before gain on disposition of real estate	18,030	64,219	(242,198)	122,352
Gain on disposition of real estate, net	41,793	2,262	78,154	2,645
(Income) loss attributable to non-controlling interests, net	(268)	2,125	(1,590)	2,985
Net income (loss) attributable to DDR	59,555	68,606	(165,634)	127,982
Company's share of equity in net income of joint ventures	336	3,316	1,406	9,483
Basis differential adjustments	312	304	945	758
Equity in net income of joint ventures	648	3,620	2,351	10,241
Unconsolidated Joint Ventures [Member]
Condensed Combined Statements of Operations
Revenues from operations	126,698	108,334	397,364	356,975
Expenses from operations:
Operating expenses	47,676	34,883	147,072	121,884
Impairment charges	0	0	448	600
Depreciation and amortization	49,949	31,435	158,168	107,165
Interest expense	33,202	37,667	107,698	129,514
Other (income) expense, net	589	173	1,173	2,964
Total expenses	131,416	104,158	414,559	362,127
Income (loss) before tax (expense) benefit of taxable REIT subsidiaries and state franchise and income taxes	(4,718)	4,176	(17,195)	(5,152)
Income tax expense (primarily Sonae Sierra Brasil), net	0	0	0	(6,565)
Income (loss) from continuing operations	(4,718)	4,176	(17,195)	(11,717)
Discontinued operations:
Loss from discontinued operations	0	(12,906)	0	(17,090)
Gain on disposition of real estate, net of tax	0	4,713	0	28,224
Income (loss) before gain on disposition of real estate	(4,718)	(4,017)	(17,195)	(583)
Gain on disposition of real estate, net	(2,626)	3,833	(4,197)	3,833
Net (loss) income	(7,344)	(184)	(21,392)	3,250
(Income) loss attributable to non-controlling interests, net	0	0	0	(2,023)
Net income (loss) attributable to DDR	$ (7,344)	$ (184)	$ (21,392)	$ 1,227

Investments in and Advances t42

Investments in and Advances to Joint Ventures - Condensed Combined Statements of Operations of Unconsolidated Joint Venture Investments (Parenthetical) (Detail) $ in Millions	Sep. 30, 2015USD ($)
Income Statement [Abstract]
Investment basis value for which no income loss recognized	$ 0

Investments in and Advances t43

Investments in and Advances to Joint Ventures - Service Fees and Income Earned by Company's Unconsolidated Joint Ventures (Detail) - USD ($) $ in Millions	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 and other fees	$ 6.5	$ 5.9	$ 19.6	$ 18.2
Development fees and leasing commissions	1.6	1.4	4.8	4.9
Interest income	$ 6.5	$ 1.7	$ 19.2	$ 5

Acquisitions - Summary of Acqui

Acquisitions - Summary of Acquired Shopping Centers (Detail) - Shopping Center [Member] $ in Millions	9 Months Ended
	Sep. 30, 2015USD ($)
Orange County [Member] | CA [Member]
Business Acquisition [Line Items]
Date Acquired	2015-03
Purchase Price	$ 49.2
Face Value of Mortgage Debt Assumed	$ 33
Orlando [Member] | FL [Member]
Business Acquisition [Line Items]
Date Acquired	2015-04
Purchase Price	$ 33
Face Value of Mortgage Debt Assumed	$ 0
Houston [Member] | TX [Member]
Business Acquisition [Line Items]
Date Acquired	2015-06
Purchase Price	$ 69.8
Face Value of Mortgage Debt Assumed	$ 0

Acquisitions - Schedule of Acqu

Acquisitions - Schedule of Acquisition Cost of Shopping Centers (Detail) - Shopping Center Acquired [Member] $ in Thousands	9 Months Ended
	Sep. 30, 2015USD ($)
Business Acquisition [Line Items]
Land	$ 51,617
Buildings	97,702
Tenant improvements	3,834
Other assets	1,252
Assets acquired	171,480
Less: Mortgage debt assumed at fair value	(33,735)
Less: Below-market leases	(18,191)
Less: Other liabilities assumed	(1,144)
Net assets acquired	118,410
In-Place Leases (Including Lease Origination Costs and Fair Market Value of Leases) [Member]
Business Acquisition [Line Items]
Intangible assets acquired	$ 11,325
Weighted Average Amortization Period	7 years 10 months 24 days
Tenant Relations [Member]
Business Acquisition [Line Items]
Intangible assets acquired	$ 5,750
Weighted Average Amortization Period	11 years 9 months 18 days
Below-Market Leases [Member]
Business Acquisition [Line Items]
Weighted Average Amortization Period	17 years 9 months 18 days

Acquisitions - Schedule of Ac46

Acquisitions - Schedule of Acquisition Cost of Shopping Centers (Parenthetical) (Detail) $ in Millions	Sep. 30, 2015USD ($)
Business Combinations [Abstract]
Above-market value of leases	$ 0.2

Acquisitions - Consideration (D

Acquisitions - Consideration (Detail) $ in Thousands	9 Months Ended
	Sep. 30, 2015USD ($)
Business Combinations [Abstract]
Cash (including debt repaid at closing)	$ 102,730
Gain on Change in Control of Interests	14,279
Carrying value of previously held equity interest	1,401
Total consideration	$ 118,410

Acquisitions - Additional Infor

Acquisitions - Additional Information (Detail) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Business Combinations [Abstract]
Revenues from the date of acquisition	$ 5.8	$ 7.7

Acquisitions - Unaudited Supple

Acquisitions - Unaudited Supplemental to Pro Forma Operating Data (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Business Acquisition Pro Forma Information [Abstract]
Pro forma revenues	$ 257,997	$ 777,417	$ 772,004
Pro forma income (loss) from continuing operations	208	(255,931)	57,104
Pro forma net income (loss) attributable to common shareholders	$ 56,570	$ (196,148)	$ 110,257
Basic earnings per share data:
Net income (loss) attributable to common shareholders	$ 0.16	$ (0.55)	$ 0.30
Diluted earnings per share data:
Net income (loss) attributable to common shareholders	$ 0.16	$ (0.55)	$ 0.30

Notes Receivable - Components o

Notes Receivable - Components of Notes Receivable (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014	Dec. 31, 2013
Receivables [Abstract]
Loans receivable	$ 46,885	$ 52,444	$ 52,820	$ 72,218
Other	545	3,801
Notes receivable, net	$ 47,430	$ 56,245	$ 57,645

Notes Receivable - Additional I

Notes Receivable - Additional Information (Detail) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2015USD ($)SecurityLoan	Dec. 31, 2014SecurityLoan
Receivables [Abstract]
Number of loans receivable outstanding	5	6
Principal amount of loans subject to delinquent principal or interest | $	$ 9.8
Number of matured loans outstanding	1
Past due on interest payments	more than 90 days
Number of mortgage loans on real estate fully reserved	1
Loan loss reserve | $	$ 4.8

Notes Receivable - Loans Receiv

Notes Receivable - Loans Receivable on Real Estate (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Receivables [Abstract]
Balance at January 1	$ 52,444	$ 72,218
Additions:
Interest	0	810
Accretion of discount	730	689
Deductions:
Payments of principal and interest	(6,289)	(347)
Other	0	(20,550)
Balance at September 30	$ 46,885	$ 52,820

Other Assets - Components of Ot

Other Assets - Components of Other Assets (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Intangible assets:
Total intangible assets, net	$ 323,146	$ 389,216
Other assets:
Prepaid expenses	21,924	14,456
Other assets	21,829	39,746
Deposits	8,400	8,024
Total other assets, net	375,299	451,442
In-Place Leases (Including Lease Origination Costs and Fair Market Value of Leases) [Member]
Intangible assets:
Total intangible assets, net	134,873	160,351
Above-Market Leases, Net [Member]
Intangible assets:
Total intangible assets, net	47,722	57,199
Tenant Relations, Net [Member]
Intangible assets:
Total intangible assets, net	$ 140,551	$ 171,666

Other Assets - Components of 54

Other Assets - Components of Other Assets (Parenthetical) (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Mar. 31, 2015
Other Assets [Line Items]
Amortization expense	$ 22.6	$ 25.2	$ 71.2	$ 79.1
Puerto Rico Tax Restructuring [Member]
Other Assets [Line Items]
Prepay of taxes					$ 20.2

Revolving Credit Facilities a55

Revolving Credit Facilities and Term Loans - Information Regarding Company's Revolving Credit Facilities and Term Loans (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Carrying Value	$ 395,000	$ 29,009
Unsecured Term Loan	300,000	350,000
Secured Term Loan	200,000	$ 400,000
Revolving Credit Facility [Member] | Unsecured Debt [Member] | JP Morgan Securities, LLC and Wells Fargo Securities, LLC [Member]
Debt Instrument [Line Items]
Carrying Value	$ 385,000
Weighted-Average Interest Rate	1.20%
Lines of Credit Maturity Date	2019-06
Revolving Credit Facility [Member] | Unsecured Debt [Member] | PNC Bank National Association [Member]
Debt Instrument [Line Items]
Carrying Value	$ 10,000
Weighted-Average Interest Rate	1.20%
Lines of Credit Maturity Date	2019-06
Term Loan [Member] | Unsecured Debt [Member] | Wells Fargo Bank National Association and PNC Bank National Association [Member]
Debt Instrument [Line Items]
Unsecured Term Loan	$ 300,000
Weighted-Average Interest Rate	1.30%
Term Loan Maturity Date	2017-04
Term Loan [Member] | Secured Debt [Member] | Key Bank National Association [Member]
Debt Instrument [Line Items]
Secured Term Loan	$ 200,000
Weighted-Average Interest Rate	1.50%
Term Loan Maturity Date	2017-04

Revolving Credit Facilities a56

Revolving Credit Facilities and Term Loans - Additional Information (Detail) - Unsecured Debt [Member] - USD ($)	9 Months Ended
	Sep. 30, 2015	Apr. 30, 2015
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Covenant compliance	The Company was in compliance with these covenants at September 30, 2015.
Revolving Credit Facility [Member] | Prime rate [Member]
Debt Instrument [Line Items]
Specified spread line of credit facility	0.15%
Revolving Credit Facility [Member] | LIBOR [Member]
Debt Instrument [Line Items]
Specified spread line of credit facility	1.00%
JP Morgan Securities, LLC and Wells Fargo Securities, LLC [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Unsecured revolving credit facility borrowing capacity	$ 750,000,000
Accordion feature	$ 1,250,000,000
Line of credit facility competitive bid option on periodic interest rates	up to 50% of the facility
Facility fee	0.20%
Revolving credit facility maturity extension option	two six-month options to extend the maturity to June 2020 upon the Company’s request
PNC Bank National Association [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Unsecured revolving credit facility	$ 50,000,000
Wells Fargo Bank National Association and PNC Bank National Association [Member] | Term Loan [Member]
Debt Instrument [Line Items]
Accordion feature	$ 600,000,000
Covenant compliance	The Company was in compliance with these covenants at September 30, 2015.
Unsecured term loan		$ 400,000,000
Term loan maturity date	Apr. 30, 2017
Extension maturity period	with three one-year borrower options
Wells Fargo Bank National Association and PNC Bank National Association [Member] | Term Loan [Member] | LIBOR [Member]
Debt Instrument [Line Items]
Specified spread line of credit facility	1.10%

Senior Notes - Additional Infor

Senior Notes - Additional Information (Detail) - USD ($) $ in Thousands	1 Months Ended	9 Months Ended
	Jan. 31, 2015	Sep. 30, 2015	Sep. 30, 2014
Debt Instrument [Line Items]
Repayments of term loan		$ 1,047,734	$ 434,074
Total fees, excluding underwriting discounts, incurred for the issuance of senior notes		4,559	$ 699
Debt extinguishment costs		$ 3,300
3.625% Senior Unsecured Notes Due February 2025 [Member]
Debt Instrument [Line Items]
Proceeds from unsecured notes payable	$ 500,000
Debt Instrument, Stated Percentage	3.625%
Debt Instrument Maturity Date	2025-02
Total fees, excluding underwriting discounts, incurred for the issuance of senior notes	$ 1,100
Unsecured Term Loan [Member]
Debt Instrument [Line Items]
Repayments of term loan	350,000
Secured Term Loan [Member]
Debt Instrument [Line Items]
Repayments of term loan	$ 100,000

Financial Instruments - Items M

Financial Instruments - Items Measured at Fair Value on a Recurring Basis (Detail) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Financial Instruments	$ (3.3)	$ (4.3)
Marketable Securities	3.1	3.7
Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Financial Instruments	0	0
Marketable Securities	3.1	3.7
Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Financial Instruments	(3.3)	(4.3)
Marketable Securities	0	0
Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Financial Instruments	0	0
Marketable Securities	$ 0	$ 0

Financial Instruments - Additio

Financial Instruments - Additional Information (Detail) $ in Millions	9 Months Ended
	Sep. 30, 2015USD ($)Derivative	Dec. 31, 2014USD ($)Derivative
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Carrying amount of notes	$ 358.1	$ 358.2
Interest rate cash flow hedge gain (loss) to be reclassified during next 12 months, net	(2.7)
Designated As Hedging Instrument
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Aggregate notional amount	$ 78.9	$ 530
Interest Rate Swap [Member]
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Derivative maturity date	Sep. 1, 2017
Derivative fixed interest rate	2.80%
Interest Rate Swap [Member] | Designated As Hedging Instrument
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Number of interest rate derivatives held | Derivative	1	9
Fair Value, Measurements, Recurring [Member]
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Fair value of swap liability	$ 3.3
Fair value of swap, net liability	3.3	$ 4.3
Level 3 [Member]
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Approximate fair value of notes	361.3	362.2
Level 3 [Member] | Fair Value, Measurements, Recurring [Member]
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Fair value of swap, net liability	$ 0	$ 0

Financial Instruments - Debt In

Financial Instruments - Debt Instruments with Carrying Values Different than Estimated Fair Values (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior notes	$ 3,118,656	$ 2,765,893
Revolving Credit Facilities and Term Loans	895,000	779,009
Mortgage indebtedness	1,209,921	1,689,805
Total indebtedness	5,223,577	5,234,707
Fair Value [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior notes	3,276,118	3,011,374
Revolving Credit Facilities and Term Loans	896,899	786,922
Mortgage indebtedness	1,239,663	1,741,855
Total indebtedness	$ 5,412,680	$ 5,540,151

Other Comprehensive Loss - Chan

Other Comprehensive Loss - Changes in Accumulated OCI by Component (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Accumulated Other Comprehensive Income Loss [Line Items]
Balance, December 31, 2014			$ (7,352)
Other comprehensive income (loss) before reclassifications			(311)
Change in cash flow hedges reclassed to earnings	$ 172	$ 118	1,001	$ 354
Net current-period other comprehensive income (loss)			690
Balance, September 30, 2015	(6,662)		(6,662)
Gains and Losses on Cash Flow Hedges [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Balance, December 31, 2014			(8,485)
Other comprehensive income (loss) before reclassifications			417
Change in cash flow hedges reclassed to earnings			1,001
Net current-period other comprehensive income (loss)			1,418
Balance, September 30, 2015	(7,067)		(7,067)
Foreign Currency Items [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Balance, December 31, 2014			1,133
Other comprehensive income (loss) before reclassifications			(728)
Change in cash flow hedges reclassed to earnings			0
Net current-period other comprehensive income (loss)			(728)
Balance, September 30, 2015	$ 405		$ 405

Other Comprehensive Loss - Ch62

Other Comprehensive Loss - Changes in Accumulated OCI by Component (Parenthetical) (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Accumulated Other Comprehensive Income Loss [Line Items]
Change in cash flow hedges reclassed to earnings	$ 172	$ 118	$ 1,001	$ 354
Other Income (Expense), Net [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Change in cash flow hedges reclassed to earnings			600
Interest Expense [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Change in cash flow hedges reclassed to earnings			500
Equity in Net Income of Joint Ventures [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Change in cash flow hedges reclassed to earnings			$ 100

Impairment Charges and Impair63

Impairment Charges and Impairment of Joint Venture Investments - Impairment Charges on Assets or Investments (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Impairment Charges And Impairment Of Joint Venture Investments [Abstract]
Assets marketed for sale or asset sold	$ 0	$ 0	$ 179,700	$ 3,000
Total continuing operations	0	1,448	279,021	18,119
Sold assets – discontinued operations	0	365	0	8,877
Joint venture investments	0	0	0	9,100
Total impairment charges	0	1,800	279,000	36,100
Undeveloped Land [Member]
Impairment Charges And Impairment Of Joint Venture Investments [Abstract]
Undeveloped land previously held for development	$ 0	$ 1,400	$ 99,300	$ 15,100

Impairment Charges and Impair64

Impairment Charges and Impairment of Joint Venture Investments - Impairment Charges on Assets or Investments (Parenthetical) (Detail)	3 Months Ended
	Mar. 31, 2015ShoppingCenter	Sep. 30, 2015Land
Operating Shopping Centers [Member]
Schedule Of Investments [Line Items]
Number of properties | ShoppingCenter	25
Land Parcels [Member]
Schedule Of Investments [Line Items]
Number of properties		5
Minimum [Member]
Schedule Of Investments [Line Items]
Asset disposal period	12 months
Maximum [Member]
Schedule Of Investments [Line Items]
Asset disposal period	24 months

Impairment Charges and Impair65

Impairment Charges and Impairment of Joint Venture Investments - Impairment Charges Measured at Fair Value on Non-Recurring Basis (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment of joint venture investments	$ 0	$ 0	$ 0	$ 9,100
Fair Value Measurements [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unconsolidated joint venture investments, Fair Value Measurements					$ 6,400
Long-lived assets held and used, Fair Value Measurements	407,100		407,100		141,200
Long-lived assets held and used, Total Losses			279,000		38,100
Impairment of joint venture investments					30,700
Fair Value Measurements [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-lived assets held and used, Fair Value Measurements	0		0		0
Unconsolidated joint venture investments, Fair Value Measurements					0
Fair Value Measurements [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-lived assets held and used, Fair Value Measurements	0		0		0
Unconsolidated joint venture investments, Fair Value Measurements					0
Fair Value Measurements [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-lived assets held and used, Fair Value Measurements	$ 407,100		$ 407,100		141,200
Unconsolidated joint venture investments, Fair Value Measurements					$ 6,400

Impairment Charges and Impair66

Impairment Charges and Impairment of Joint Venture Investments - Summary of Significant Unobservable Inputs (Detail) - Fair Value Measurements [Member] $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2015USD ($)$ / ft²	Dec. 31, 2014USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	$ 407.1	$ 141.2
Fair Value		6.4
Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value		$ 6.4
Impairment Of Consolidated Assets | Income Capitalization/Sales Comparison Approach [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Range		8.00%
Fair Value	$ 287.6	$ 67
Impairment Of Consolidated Assets | Income Capitalization/Sales Comparison Approach [Member] | Level 3 [Member] | Minimum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Range	8.00%
Price per Square Foot, Range | $ / ft²	10
Impairment Of Consolidated Assets | Income Capitalization/Sales Comparison Approach [Member] | Level 3 [Member] | Maximum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Range	9.00%
Price per Square Foot, Range | $ / ft²	40
Impairment Of Consolidated Assets | Discounted Cash Flow [Member] | Level 3 [Member] | Minimum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Range	10.00%
Range	8.00%
Impairment Of Consolidated Assets | Discounted Cash Flow [Member] | Level 3 [Member] | Maximum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Range	14.00%
Range	10.00%
Impairment Of Consolidated Assets | Indicative Bid/Contracted Price [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	$ 33.8	$ 74.2
Impairment Of Consolidated Assets | Indicative Bid [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	51.5
Impairment Of Consolidated Assets | Indicative Bid/Sales Comparison Approach [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	34.2
Impairment Of Joint Venture Investments | Discounted Cash Flow [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Range		15.00%
Range		6.00%
Fair Value	$ 0	$ 6.4

Disposition of Real Estate an67

Disposition of Real Estate and Discontinued Operations - Additional Information (Detail) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2015USD ($)Property	Dec. 31, 2014Property
Discontinued Operations And Disposal Groups [Abstract]
Number of properties sold	22
Proceeds from sale of real estate | $	$ 297.3
Number of properties sold under discontinued operations		35

Disposition of Real Estate an68

Disposition of Real Estate and Discontinued Operations - Operating Results Related to Assets Sold (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Discontinued Operations And Disposal Groups [Abstract]
Revenues		$ 10,785		$ 36,367
Expenses
Operating expenses		2,773		9,784
Impairment charges	$ 0	365	$ 0	8,877
Interest, net		2,670		9,176
Depreciation and amortization		4,513		14,891
Total expenses, discontinued operations		10,321		42,728
Income (loss) from discontinued operations		464		(6,361)
Gain on disposition of real estate, net of tax		57,105		74,287
Income from discontinued operations	$ 0	$ 57,569	$ 0	$ 67,926

Earnings Per Share - Computatio

Earnings Per Share - Computation of Company's Earnings Per Share (EPS) and Reconciliation of Net Income (Loss) from Continuing Operations and Number of Common Shares Used in Computations of "Basic" EPS and "Diluted" EPS (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
Continuing Operations:
Income (loss) from continuing operations	$ 18,030	$ 6,650	$ (242,198)	$ 54,426
Plus: Gain on disposition of real estate	41,793	2,262	78,154	2,645
Plus: (Income) loss attributable to non-controlling interests	(268)	2,125	(1,590)	1,623
Less: Write-off of preferred share original issuance costs	0	0	0	(1,943)
Less: Preferred dividends	(5,594)	(5,594)	(16,781)	(18,460)
Less: Earnings attributable to unvested shares and operating partnership units	(221)	(463)	(1,075)	(1,238)
Income (loss) from continuing operations	53,740	4,980	(183,490)	37,053
Discontinued operations:
Income from discontinued operations	0	57,569	0	67,926
Plus: Loss attributable to non-controlling interests	0	0	0	1,362
Net income (loss) attributable to common shareholders after allocation to participating securities	$ 53,740	$ 62,549	$ (183,490)	$ 106,341
Denominators – Number of Shares
Basic—Average shares outstanding	361,107	358,025	360,341	357,824
Effect of dilutive securities:
Senior convertible notes	2,085	0	0	0
Stock options	379	487	0	468
Diluted—Average shares outstanding	363,571	358,512	360,341	358,292
Basic Earnings Per Share:
Income (loss) from continuing operations attributable to common shareholders	$ 0.15	$ 0.01	$ (0.51)	$ 0.10
Income from discontinued operations attributable to common shareholders	0	0.16	0	0.20
Net income (loss) attributable to common shareholders	0.15	0.17	(0.51)	0.30
Diluted Earnings Per Share:
Income (loss) from continuing operations attributable to common shareholders	0.15	0.01	(0.51)	0.10
Income from discontinued operations attributable to common shareholders	0	0.16	0	0.20
Net income (loss) attributable to common shareholders	$ 0.15	$ 0.17	$ (0.51)	$ 0.30

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Detail)	1 Months Ended	9 Months Ended
	Jul. 31, 2015shares	Sep. 30, 2015Days$ / sharesshares	Sep. 30, 2014shares
Earnings Per Share Disclosure [Line Items]
OP Units, outstanding		398,701	1,441,890
OP Units converted to common stock	1,043,189
Convertible Notes [Member]
Earnings Per Share Disclosure [Line Items]
Average trading price exceeds conversion price percentage		125.00%
Senior convertible notes convertible to common shares price | $ / shares		$ 14.45
Trading days, minimum | Days		20
Trading days, maximum		30 days

Earnings Per Share - Common Sha

Earnings Per Share - Common Share Dividends Declared Per Share (Detail) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Earnings Per Share [Abstract]
Common share dividends declared per share	$ 0.1725	$ 0.155	$ 0.5175	$ 0.465

Segment Information - Additiona

Segment Information - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2015Segment
Segment Reporting [Abstract]
Number of reportable segments	2
Quantitative threshold of revenues, profit or loss and assets for identifying reportable segments	The Company’s chief operating decision maker may review operational and financial data on a property basis and does not differentiate properties on a geographical basis for purposes of allocating resources or capital. The Company evaluates individual property performance primarily based on net operating income before depreciation, amortization and certain nonrecurring items. Each consolidated shopping center is considered a separate operating segment; however, each shopping center on a stand-alone basis represents less than 10% of the revenues, profit or loss, and assets of the combined reported operating segment and meets the majority of the aggregation criteria under the applicable standard.

Segment Information - Company's

Segment Information - Company's Reportable Segments (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Segment Reporting Information [Line Items]
Total revenues	$ 257,135	$ 245,355	$ 773,283	$ 728,907
Rental operation expenses	(73,348)	(71,385)	(223,529)	(211,024)
Net operating income (loss)	183,787	173,970	549,754	517,883
Impairment charges	0	(1,448)	(279,021)	(18,119)
Depreciation and amortization	(97,155)	(97,270)	(299,470)	(296,093)
Interest income	7,331	2,652	21,703	8,938
Other income (expense), net	(240)	(2,758)	(1,300)	(11,041)
Unallocated expenses	(76,341)	(76,100)	(243,987)	(236,097)
Equity in net income of joint ventures	648	3,620	2,351	10,241
Impairment of joint venture investments	0	0	0	(9,100)
Income (loss) from continuing operations	18,030	6,650	(242,198)	54,426
Gain on sale and change in control of interests, net	0	3,984	7,772	87,814
Total gross real estate assets	10,155,375	10,496,860	10,155,375	10,496,860
Notes receivable, net	47,430	57,645	47,430	57,645	$ 56,245
Operating Segments [Member] | Shopping Center [Member]
Segment Reporting Information [Line Items]
Total revenues	257,109	245,319	773,162	728,743
Rental operation expenses	(73,280)	(71,385)	(223,425)	(210,973)
Net operating income (loss)	183,829	173,934	549,737	517,770
Impairment charges		(1,448)	(279,021)	(18,119)
Depreciation and amortization	(97,155)	(97,270)	(299,470)	(296,093)
Equity in net income of joint ventures	648	3,620	2,351	9,755
Impairment of joint venture investments				(9,100)
Gain on sale and change in control of interests, net		3,984	7,772	87,814
Total gross real estate assets	10,155,375	10,496,860	10,155,375	10,496,860
Operating Segments [Member] | Loan Investments [Member]
Segment Reporting Information [Line Items]
Total revenues	26	36	121	164
Rental operation expenses	(68)	0	(104)	(51)
Net operating income (loss)	(42)	36	17	113
Interest income	7,331	2,652	21,703	8,938
Notes receivable, net	357,648	91,455	357,648	91,455
Corporate, Non-Segment [Member]
Segment Reporting Information [Line Items]
Other income (expense), net	(240)	(2,758)	(1,300)	(11,041)
Unallocated expenses	(76,341)	(76,100)	(243,987)	(236,097)
Equity in net income of joint ventures				486
Notes receivable, net	$ (310,218)	$ (33,810)	$ (310,218)	$ (33,810)

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) - Subsequent Event [Member]	1 Months Ended
	Oct. 31, 2015USD ($)
4.25% Senior Unsecured Notes Due February 2026 [Member]
Subsequent Event [Line Items]
Proceeds from unsecured notes payable	$ 400,000,000
Debt Instrument, Stated Percentage	4.25%
Debt Instrument Maturity Date	2026-02
Convertible Notes [Member]
Subsequent Event [Line Items]
Convertible notes	$ 350,000,000
Debt instrument redemption, description	Calling the Company’s Convertible Notes for redemption triggered a right of conversion for the holders of the Convertible Notes, whereby such holders may require the Company to deliver to them (i) cash in an amount up to the principal amount of Convertible Notes being converted, and (ii) to the extent that the applicable conversion value exceeds the principal amount of the Convertible Notes being converted, such excess amount in cash, common shares or a combination thereof, at the Company’s election.