SITE Centers (SITC) 10-Q 30 Apr 20 2020 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - $ / shares	3 Months Ended
	Mar. 31, 2020	Apr. 24, 2020	Dec. 31, 2019
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Entity File Number	1-11690
Entity Tax Identification Number	34-1723097
Entity Address, Address Line One	3300 Enterprise Parkway
Entity Address, City or Town	Beachwood
Entity Address, Postal Zip Code	44122
City Area Code	216
Local Phone Number	755-5500
Entity Address, State or Province	OH
Entity Registrant Name	SITE Centers Corp.
Entity Central Index Key	0000894315
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Common Stock, Par or Stated Value Per Share	$ 0.10		$ 0.10
Document Quarterly Report	true
Document Transition Report	false
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Incorporation, State or Country Code	OH
Entity Common Stock, Shares Outstanding		193,149,243
Common Shares [Member]
Document Information [Line Items]
Trading Symbol	SITC
Security Exchange Name	NYSE
Title of 12(b) Security	Common Shares
6.375% Class A Cumulative Redeemable Preferred Shares [Member]
Document Information [Line Items]
Trading Symbol	SITC PRA
Security Exchange Name	NYSE
Title of 12(b) Security	Cumulative Redeemable Preferred Shares
6.25% Class K Cumulative Redeemable Preferred Shares [Member]
Document Information [Line Items]
Trading Symbol	SITC PRK
Security Exchange Name	NYSE
Title of 12(b) Security	Cumulative Redeemable Preferred Shares

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Assets
Land	$ 881,360	$ 881,397
Buildings	3,289,988	3,277,440
Fixtures and tenant improvements	493,371	491,312
Total real estate rental property	4,664,719	4,650,149
Less: Accumulated depreciation	(1,323,390)	(1,289,148)
Real estate rental property, net	3,341,329	3,361,001
Construction in progress and land	62,250	59,663
Total real estate assets, net	3,403,579	3,420,664
Investments in and advances to joint ventures, net	178,983	294,495
Investment in and advances to affiliate	190,105	190,105
Cash and cash equivalents	514,258	16,080
Restricted cash	106	3,053
Accounts receivable	56,436	60,594
Other assets, net	101,614	108,631
Total assets	4,445,081	4,093,622
Unsecured indebtedness:
Senior notes, net	1,447,997	1,647,963
Term loan, net	99,504	99,460
Revolving credit facilities	645,000	5,000
Total unsecured indebtedness	2,192,501	1,752,423
Mortgage indebtedness, net	54,210	94,874
Total indebtedness	2,246,711	1,847,297
Accounts payable and other liabilities	186,845	220,811
Dividends payable	44,047	44,036
Total liabilities	2,477,603	2,112,144
Commitments and contingencies
SITE Centers Equity
Common shares, with par value, $0.10 stated value; 300,000,000 shares authorized; 193,994,403 and 193,823,409 shares issued at March 31, 2020 and December 31, 2019, respectively	19,399	19,382
Additional paid-in capital	5,703,521	5,700,400
Accumulated distributions in excess of net income	(4,075,813)	(4,066,099)
Deferred compensation obligation	5,994	7,929
Accumulated other comprehensive loss	(104)	(491)
Less: Common shares in treasury at cost: 1,097,130 and 325,318 shares at March 31, 2020 and December 31, 2019, respectively	(13,600)	(7,707)
Total SITE Centers shareholders' equity	1,964,397	1,978,414
Non-controlling interests	3,081	3,064
Total equity	1,967,478	1,981,478
Total liabilities and equity	4,445,081	4,093,622
Class A Cumulative Redeemable Preferred Shares [Member]
SITE Centers Equity
Cumulative redeemable preferred shares	175,000	175,000
Class K Cumulative Redeemable Preferred Shares [Member]
SITE Centers Equity
Cumulative redeemable preferred shares	$ 150,000	$ 150,000

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	3 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Common shares, par value	$ 0.10	$ 0.10
Common shares, shares authorized	300,000,000	300,000,000
Common shares, shares issued	193,994,403	193,823,409
Treasury at cost	1,097,130	325,318
Class A 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	350,000	350,000
Cumulative redeemable preferred shares, shares outstanding	350,000	350,000
Preferred stock dividend rate	6.375%	6.375%
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
	Mar. 31, 2020	Mar. 31, 2019
Revenues from operations:
Rental income	$ 112,529	$ 112,221
Fee and other income	16,781	18,801
Total revenue from operations	129,310	131,022
Rental operation expenses:
Operating and maintenance	18,480	18,841
Real estate taxes	17,657	17,743
Impairment charges	0	620
General and administrative	11,376	14,112
Depreciation and amortization	42,993	42,608
Total rental operation expenses	90,506	93,924
Other income (expense):
Interest income	3,485	4,521
Interest expense	(20,587)	(21,726)
Other (expense) income, net	(17,409)	153
Total other income (expense)	(34,511)	(17,052)
Income before earnings from equity method investments and other items	4,293	20,046
Equity in net income of joint ventures	2,171	1,043
Reserve of preferred equity interests, net	(18,057)	(1,099)
Gain on sale of joint venture interest	45,681	0
Gain on disposition of real estate, net	773	16,377
Income before tax expense	34,861	36,367
Tax expense of taxable REIT subsidiaries and state franchise and income taxes	(233)	(272)
Net income	34,628	36,095
Income attributable to non-controlling interests, net	(295)	(305)
Net income attributable to SITE Centers	34,333	35,790
Preferred dividends	(5,133)	(8,383)
Net income attributable to common shareholders	$ 29,200	$ 27,407
Per share data:
Basic	$ 0.15	$ 0.15
Diluted	$ 0.15	$ 0.15

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Statement Of Income And Comprehensive Income [Abstract]
Net income	$ 34,628	$ 36,095
Other comprehensive income:
Foreign currency translation, net	(785)	187
Change in cash flow hedges reclassed to earnings	1,172	117
Total other comprehensive income	387	304
Comprehensive income	35,015	36,399
Total comprehensive income attributable to non-controlling interests	(295)	(305)
Total comprehensive income attributable to SITE Centers	$ 34,720	$ 36,094

CONSOLIDATED STATEMENT OF EQUIT

CONSOLIDATED STATEMENT OF EQUITY - USD ($) $ in Thousands	Total	Preferred Shares [Member]	Common Shares [Member]	Additional Paid-in Capital [Member]	Accumulated Distributions in Excess of Net Income [Member]	Deferred Compensation Obligation [Member]	Accumulated Other Comprehensive Loss [Member]	Treasury Stock at Cost [Member]	Non-Controlling Interests [Member]
Beginning Balance at Dec. 31, 2018	$ 2,073,002	$ 525,000	$ 18,471	$ 5,544,220	$ (3,980,151)	$ 8,193	$ (1,381)	$ (44,278)	$ 2,928
Issuance of common shares related to stock plans	32	0	1	31	0	0	0	0	0
Repurchase of common shares	(14,069)	0	0	0	0	0	0	(14,069)	0
Stock-based compensation, net	2,449	0	0	1,044	0	(239)	0	1,644	0
Distributions to non-controlling interests	(212)	0	0	0	0	0	0	0	(212)
Dividends declared-common shares	(36,252)	0	0	0	(36,252)	0	0	0	0
Dividends declared-preferred shares	(8,383)	0	0	0	(8,383)	0	0	0	0
Comprehensive income	36,399	0	0	0	35,790	0	304	0	305
Ending Balance at Mar. 31, 2019	2,052,966	525,000	18,472	5,545,295	(3,988,996)	7,954	(1,077)	(56,703)	3,021
Beginning Balance at Dec. 31, 2019	1,981,478	325,000	19,382	5,700,400	(4,066,099)	7,929	(491)	(7,707)	3,064
Issuance of common shares related to stock plans	126	0	17	109	0	0	0	0	0
Repurchase of common shares	(7,500)	0	0	0	0	0	0	(7,500)	0
Stock-based compensation, net	2,684	0	0	3,012	0	(1,935)	0	1,607	0
Distributions to non-controlling interests	(278)	0	0	0	0	0	0	0	(278)
Dividends declared-common shares	(38,914)	0	0	0	(38,914)	0	0	0	0
Dividends declared-preferred shares	(5,133)	0	0	0	(5,133)	0	0	0	0
Comprehensive income	35,015	0	0	0	34,333	0	387	0	295
Ending Balance at Mar. 31, 2020	$ 1,967,478	$ 325,000	$ 19,399	$ 5,703,521	$ (4,075,813)	$ 5,994	$ (104)	$ (13,600)	$ 3,081

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Cash flow from operating activities:
Net income	$ 34,628	$ 36,095
Adjustments to reconcile net income to net cash flow provided by operating activities:
Depreciation and amortization	42,993	42,608
Stock-based compensation	18	2,917
Amortization and write-off of debt issuance costs and fair market value of debt adjustments	1,519	937
Loss on debt extinguishment	16,568	0
Equity in net income of joint ventures	(2,171)	(1,043)
Reserve of preferred equity interests, net	18,057	1,099
Operating cash distributions from joint ventures	2,121	2,336
Gain on sale of joint venture interest	(45,681)	0
Gain on disposition of real estate, net	(773)	(16,377)
Impairment charges	0	620
Assumption of buildings due to ground lease termination	(3,025)	0
Change in notes receivable accrued interest	664	266
Net change in accounts receivable	4,177	4,018
Net change in accounts payable and accrued expenses	(19,292)	(19,132)
Net change in other operating assets and liabilities	(13,953)	(12,081)
Total adjustments	1,222	6,168
Net cash flow provided by operating activities	35,850	42,263
Cash flow from investing activities:
Real estate developed and improvements to operating real estate	(23,022)	(18,153)
Proceeds from disposition of real estate	1,060	70,038
Proceeds from sale of joint venture interest	140,519	0
Equity contributions to joint ventures	(86)	(47)
Distributions from unconsolidated joint ventures	3,168	11,928
Repayment of joint venture advances, net	0	12,687
Repayment of notes receivable	7,500	0
Net transactions with RVI	0	7
Net cash flow provided by investing activities	129,139	76,460
Cash flow from financing activities:
Proceeds from (Repayment of) revolving credit facilities, net	640,000	(60,000)
Repayment of senior notes, including repayment costs	(216,568)	0
Repayment of term loan and mortgage debt	(40,436)	(526)
Repurchase of common shares in conjunction with equity award plans and dividend reinvestment plan	(948)	(627)
Repurchase of common shares	(7,500)	(14,069)
Distributions to non-controlling interests and redeemable operating partnership units	(278)	(213)
Dividends paid	(44,036)	(45,262)
Net cash flow provided by (used for) financing activities	330,234	(120,697)
Effect of foreign exchange rate changes on cash and cash equivalents	8	(3)
Net increase (decrease) in cash, cash equivalents and restricted cash	495,223	(1,974)
Cash, cash equivalents and restricted cash, beginning of period	19,133	13,650
Cash, cash equivalents and restricted cash, end of period	$ 514,364	$ 11,673

Nature of Business and Financia

Nature of Business and Financial Statement Presentation	3 Months Ended
	Mar. 31, 2020
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 SITE Centers Corp. and its related consolidated real estate subsidiaries (collectively, the “Company” or “SITE Centers”) and unconsolidated joint ventures are primarily engaged in the business of acquiring, owning, developing, redeveloping, expanding, leasing, financing and managing shopping centers. Unless otherwise provided, references herein to the Company or SITE Centers include SITE Centers Corp. and its wholly-owned subsidiaries and consolidated joint ventures. The Company’s tenant base primarily includes national and regional retail chains and local tenants. 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 (“GAAP”) 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 GAAP 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 GAAP 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 months ended March 31, 2020 and 2019, 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, 2019 . Principles of Consolidation The 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 (“VIE”). All significant inter-company balances and transactions have been eliminated in consolidation. Investments in real estate joint ventures 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 is included in consolidated net income (loss). The Company has two unconsolidated joint ventures included in the Company’s joint venture investments that are considered VIEs for which the Company is not the primary beneficiary. The Company’s maximum exposure to losses associated with these VIEs is limited to its aggregate investment, which was $94.5 million and $114.0 million as of March 31, 2020 and December 31, 2019, respectively. 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): Three Months Ended March 31, 2020 2019 Dividends declared, but not paid $ 44.0 $ 44.6 Accounts payable related to construction in progress 7.7 8.8 Assumption of buildings due to ground lease terminations 3.0 — Common Shares The Company declared common share dividends of $0.20 per share for the three months ended March 31, 2020 and 2019, respectively. New Accounting Standard Accounting for Credit Losses In June 2016, the Financial Accounting Standards Board (the “FASB”) issued an amendment on measurement of credit losses on financial assets held by a reporting entity at each reporting date (Accounting Standards Update (“ASU”) 2016-13, Financial Instruments – Credit Losses, “Topic 326” Accounting for Leases During COVID-19 Pandemic In April 2020, the FASB issued a question-and-answer document (the “Lease Modification Q&A”) focused on the application of lease accounting guidance to lease concessions provided as a result of COVID-19. Under existing lease guidance, the Company would have to determine, on a lease by lease basis, if a lease concession was the result of a new arrangement reached with the tenant (treated with the lease modification accounting framework) or if a lease concession was under the enforceable rights and obligations within the existing lease agreement (precluded from applying the lease modification accounting framework). The Lease Modification Q&A clarifies that entities may elect to not evaluate whether lease-related relief that lessors provide to mitigate the economic effects of COVID-19 on lessees is a lease modification under Topic 842, Leases

Revenue Recognition

Revenue Recognition	3 Months Ended
	Mar. 31, 2020
Revenue From Contract With Customer [Abstract]
Revenue Recognition	2. Revenue Recognition Fee and Other Income on the consolidated statements of operations includes revenue from contracts with customers and other property-related income, primarily composed of theater income, and is recognized in the period earned as follows (in thousands): Three Months Ended March 31, 2020 2019 Revenue from contracts: Asset and property management fees $ 9,325 $ 11,531 Leasing commissions 2,996 1,499 Development fees 870 553 Disposition fees 1,556 1,202 Credit facility guaranty and refinancing fees — 1,800 Total revenue from contracts with customers 14,747 16,585 Other property income: Other 2,034 2,216 Total fee and other income $ 16,781 $ 18,801

Investments in and Advances to

Investments in and Advances to Joint Ventures	3 Months Ended
	Mar. 31, 2020
Equity Method Investments And Joint Ventures [Abstract]
Investments in and Advances to Joint Ventures	3. Investments in and Advances to Joint Ventures At March 31, 2020 and December 31, 2019, the Company had ownership interests in various unconsolidated joint ventures that had an investment in 78 and 100 shopping center properties, respectively. Condensed combined financial information of the Company’s unconsolidated joint venture investments is as follows (in thousands): March 31, 2020 December 31, 2019 Condensed Combined Balance Sheets Land $ 556,291 $ 895,427 Buildings 1,687,612 2,583,053 Fixtures and tenant improvements 154,278 233,303 2,398,181 3,711,783 Less: Accumulated depreciation (548,541 ) (949,879 ) 1,849,640 2,761,904 Construction in progress and land 52,603 58,855 Real estate, net 1,902,243 2,820,759 Cash and restricted cash 59,184 109,260 Receivables, net 22,442 37,191 Other assets, net 105,457 147,129 $ 2,089,326 $ 3,114,339 Mortgage debt $ 1,434,981 $ 1,640,146 Notes and accrued interest payable to the Company 4,896 4,975 Other liabilities 97,384 142,754 1,537,261 1,787,875 Redeemable preferred equity – (A) 218,315 217,871 Accumulated equity 333,750 1,108,593 $ 2,089,326 $ 3,114,339 Company's share of accumulated equity $ 74,165 $ 186,247 Redeemable preferred equity, net (B) 93,909 112,589 Basis differentials 7,518 (6,864 ) Deferred development fees, net of portion related to the Company's interest (1,505 ) (2,452 ) Amounts payable to the Company 4,896 4,975 Investments in and Advances to Joint Ventures, net $ 178,983 $ 294,495 (A) Includes PIK that the Company has accrued since March 2017 of $18.4 million and $17.3 million at March 31, 2020 and December 31, 2019, respectively, which, in each case, was fully reserved. (B) Amount is net of the valuation allowance of $106.0 million and $87.9 million at March 31, 2020 and December 31, 2019, respectively, and the fully reserved PIK. Three Months Ended March 31, 2020 2019 Condensed Combined Statements of Operations Revenues from operations $ 85,621 $ 109,103 Expenses from operations: Operating expenses 24,415 30,061 Impairment charges 31,720 12,267 Depreciation and amortization 30,104 39,504 Interest expense 17,755 25,656 Preferred share expense 4,530 5,459 Other expense, net 4,657 5,456 113,181 118,403 Loss before gain on disposition of real estate (27,560 ) (9,300 ) Gain on disposition of real estate, net 8,906 15,966 Net (loss) income attributable to unconsolidated joint ventures $ (18,654 ) $ 6,666 Company's share of equity in net income of joint ventures $ 2,015 $ 845 Basis differential adjustments (A) 156 198 Equity in net income of joint ventures $ 2,171 $ 1,043 (A) The difference between the Company’s share of net income, as reported above, and the amounts included in the Company’s consolidated statements of operations is attributable to the amortization of basis differentials, unrecognized preferred PIK, the recognition of deferred gains, differences in gain (loss) on sale of certain assets recognized due to the basis differentials and other than temporary impairment charges. Revenues earned by the Company related to all of the Company’s unconsolidated joint ventures and interest income on its preferred interests in the BRE DDR Joint Ventures (as defined below) are as follows (in millions): Three Months Ended March 31, 2020 2019 Revenue from contracts: Asset and property management fees $ 4.5 $ 5.2 Development fees, leasing commissions and other 2.6 1.4 7.1 6.6 Other: Interest income 3.5 4.2 Other 0.7 0.8 4.2 5.0 $ 11.3 $ 11.6 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. BRE DDR Joint Ventures The Company’s two unconsolidated investments with The Blackstone Group L.P. (“Blackstone”), BRE DDR Retail Holdings III (“BRE DDR III”) and BRE DDR Retail Holdings IV (“BRE DDR IV” and, together with BRE DDR III, the “BRE DDR Joint Ventures”), have substantially similar terms. An affiliate of Blackstone is the managing member and effectively owns 95% of the common equity of each of the two BRE DDR Joint Ventures, and consolidated affiliates of SITE Centers effectively own the remaining 5%. The Company provides leasing and property management services to all of the joint venture properties. The Company cannot be removed as the property and leasing manager until the preferred equity, as discussed below, is redeemed in full (except for certain specified events). The Company’s preferred interests are entitled to certain preferential cumulative distributions payable out of operating cash flows and certain capital proceeds pursuant to the terms and conditions of the preferred investments. The preferred investments have an annual distribution rate of 8.5% including any deferred and unpaid preferred distributions. Blackstone has the right to defer up to 2.0 % of the 8.5 % preferred fixed distributions as a payment in kind (“PIK”) distribution. Blackstone has made this PIK deferral election since the formation of both joint ventures. The preferred interest distributions are recognized as Interest Income within the Company’s consolidated statements of operations and are classified as a note receivable in Investments in and Advances to Joint Ventures on the Company’s consolidated balance sheets. The cash portion of the preferred fixed distributions is generally payable first out of operating cash flows and is current for both BRE DDR Joint Ventures. The Company has no expectation that the cash portion of the accrued preferred fixed distribution will become impaired. As a result of the valuation allowances recorded, the Company no longer recognizes as interest income the 2.0% PIK. Although Blackstone has the right to change its payment election, the Company expects future preferred distributions to continue to include the PIK component. The recognition of the PIK interest income will be reevaluated based upon any future adjustments to the aggregate valuation allowance, as appropriate. The Company reassesses the aggregate valuation allowance quarterly, based upon actual timing and values of recent property sales, as well as current market assumptions. The Company has a valuation allowance at March 31, 2020 recorded on each of the BRE DDR III and BRE DDR IV preferred investment interests on a net basis, as described below. The Company adjusted the aggregate valuation allowances by an increase of $18.1 million for the three months ended March 31, 2020. Adjustments to the valuation allowances are recorded as Reserve of Preferred Equity Interests on the Company’s consolidated statements of operations. The Company will continue to monitor the investments and related valuation allowance, which could be increased or decreased in future periods, as appropriate. The preferred investments are summarized as follows (in millions, except properties owned): Preferred Investment (Principal) Redemption Date Initial March 31, 2020 Valuation Allowance Net of Reserve Properties Owned at March 31, 2020 BRE DDR III October 2021 $ 300.0 $ 132.4 $ (88.2 ) $ 44.2 13 BRE DDR IV December 2022 82.6 64.0 (17.8 ) 46.2 5 $ 382.6 $ 196.4 $ (106.0 ) $ 90.4 Disposition of Shopping Centers and Joint Venture Interest In February 2020, the Company sold its 15% interest in the DDRTC joint venture to its partner, an affiliate of TIAA-CREF, which resulted in net proceeds to the Company of $140.5 million in the three months ended March 31, 2020 and prior to any working capital adjustments (which are expected to be finalized in the second quarter of 2020). The Company recorded a gain on sale of joint venture interest of $45.7 million in connection with this sale. From January 1, 2020 to March 31, 2020, one shopping center was sold for $25.0 million, of which the Company’s share of the gain on sale was $1.7 million.

Investment in and Advances to A

Investment in and Advances to Affiliate	3 Months Ended
	Mar. 31, 2020
Investments In And Advances To Affiliates [Abstract]
Investment in and Advances to Affiliate	4 . Investment in and Advances to Affiliate The Company has a preferred investment in Retail Value Inc. (“RVI”) of $190.0 million. Revenue from contracts with RVI is included in Fee and Other Income on the consolidated statements of operations and was composed of the following (in millions): Three Months Ended March 31, 2020 2019 Revenue from contracts with RVI: Asset and property management fees $ 4.8 $ 5.8 Leasing commissions 1.2 0.8 Disposition fees 1.6 1.1 Credit facility guaranty and refinancing fees — 1.8 Total revenue from contracts with RVI $ 7.6 $ 9.5

Other Assets, net

Other Assets, net	3 Months Ended
	Mar. 31, 2020
Other Assets [Abstract]
Other Assets, net	5 . Other Assets, net Other assets consist of the following (in thousands): March 31, 2020 December 31, 2019 Intangible assets: In-place leases, net $ 23,150 $ 25,114 Above-market leases, net 2,956 3,193 Lease origination costs 3,431 3,720 Tenant relationships, net 24,488 25,994 Total intangible assets, net (A) 54,025 58,021 Operating lease ROU assets 22,013 21,792 Notes receivable (B) — 7,541 Other assets: Prepaid expenses 10,826 6,104 Other assets 3,329 2,959 Deposits 3,792 4,087 Deferred charges, net 7,629 8,127 Total other assets, net $ 101,614 $ 108,631 Below-market leases, net (other liabilities) $ 45,700 $ 46,961 (A) The Company recorded amortization expense related to its intangibles, excluding above- and below-market leases, of $3.8 million and $5.0 million for the three months ended March 31, 2020 and 2019, respectively. (B) Repaid in full in the first quarter of 2020.

Revolving Credit Facilities

Revolving Credit Facilities	3 Months Ended
	Mar. 31, 2020
Debt Disclosure [Abstract]
Revolving Credit Facilities	6 . Revolving Credit Facilities The following table discloses certain information regarding the Company’s Revolving Credit Facilities (as defined below) (in millions): Carrying Amount at March 31, 2020 Weighted-Average Interest Rate at March 31, 2020 Maturity Date Unsecured Credit Facility $ 645.0 1.9% January 2024 PNC Facility — N/A January 2024 The Company maintains an unsecured revolving credit facility with a syndicate of financial institutions, arranged by Wells Fargo Securities, LLC, J.P. Morgan Chase Bank, N.A., Citizens Bank, N.A., RBC Capital Markets and U.S. Bank National Association (the “Unsecured Credit Facility”). The Unsecured Credit Facility provides for borrowings of up to $950 million if certain financial covenants are maintained and certain borrowing conditions are satisfied, and an accordion feature for expansion of availability up to $1.45 billion, provided that new or existing lenders agree to the existing terms of the facility and increase their commitment level, and a maturity date of January 2024, subject to two six-month options to extend the maturity to January 2025 upon the Company’s request (subject to satisfaction of certain conditions). 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 March 31, 2020. The Company also maintains a $20 million unsecured revolving credit facility with PNC Bank, National Association (“PNC”, the “PNC Facility” and, the Company the Company The Company’s borrowings under the Revolving Credit Facilities bear interest at variable rates at the Company’s election, based on either LIBOR plus a specified spread (0.90% at March 31, 2020) or the Alternative Base Rate, as defined in the respective facility, plus a specified spread (0% at March 31, 2020). The specified spreads vary depending on the Company’s long-term senior unsecured debt rating from Moody’s Investors Service, Inc., S&P Global Ratings, Fitch Investor Services, Inc. and their successors. The Company is required to comply with certain covenants under the Revolving Credit Facilities relating to total outstanding indebtedness, secured indebtedness, value of unencumbered real estate assets and fixed charge coverage. The Company was in compliance with these financial covenants at March 31, 2020 .

Senior Notes

Senior Notes	3 Months Ended
	Mar. 31, 2020
Debt Disclosure [Abstract]
Senior Notes	7. Senior Notes In March 2020, the Company redeemed the entire $200.0 million outstanding aggregate principal amount of its 4.625% Senior Notes due 2022 (the “Senior Notes due 2022”). In connection with the redemption of the Senior Notes due 2022, the Company paid a make-whole amount of $16.6 million. This make-whole amount is included in Other (expense) income, net, in the Company’s consolidated statements of operations.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurements	8 . Fair Value Measurements The Company utilized the methods and assumptions described below in estimating fair value disclosures of debt. The fair market value of senior 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 and all other debt 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 are not necessarily indicative of the amounts the Company could realize on disposition of the financial instruments. Carrying values that are different from estimated fair values are summarized as follows (in thousands): March 31, 2020 December 31, 2019 Carrying Amount Fair Value Carrying Amount Fair Value Senior Notes $ 1,447,997 $ 1,511,258 $ 1,647,963 $ 1,744,581 Revolving Credit Facilities and term loan 744,504 745,000 104,460 105,084 Mortgage Indebtedness 54,210 55,066 94,874 96,276 $ 2,246,711 $ 2,311,324 $ 1,847,297 $ 1,945,941

Other Comprehensive Loss

Other Comprehensive Loss	3 Months Ended
	Mar. 31, 2020
Equity [Abstract]
Other Comprehensive Loss	9 . Other Comprehensive Loss The changes in Accumulated Other Comprehensive Loss by component are as follows (in thousands): Gains and Losses on Cash Flow Hedges Foreign Currency Items Total Balance, December 31, 2019 $ (1,172 ) $ 681 $ (491 ) Other comprehensive loss before reclassifications — (785 ) (785 ) Change in cash flow hedges reclassed to earnings (A) 1,172 — 1,172 Net current-period other comprehensive income (loss) 1,172 (785 ) 387 Balance, March 31, 2020 $ — $ (104 ) $ (104 ) (A) Included in this amount, $0.1 million is classified as interest expense and $1.1 million is classified as other expense in the Company’s consolidated statement of operations.

Impairment Charges and Reserves

Impairment Charges and Reserves	3 Months Ended
	Mar. 31, 2020
Asset Impairment Charges [Abstract]
Impairment Charges and Reserves	10 . Impairment Charges and Reserves The Company recorded impairment charges and reserves 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 Ended March 31, 2020 2019 Assets marketed for sale $ — $ 0.6 Reserve of preferred equity interests (A) 18.1 1.1 Total impairment charges $ 18.1 $ 1.7 (A) As a result of an aggregate valuation allowance on its preferred equity interests in the BRE DDR Joint Ventures (Note 3). Items Measured at Fair Value on a Non-Recurring Basis The Company is required to assess the fair value of certain impaired consolidated and unconsolidated joint venture investments. The valuation of impaired real estate assets and investments is determined using widely accepted valuation techniques including discounted cash flow analysis on the expected cash flows of each asset, as well as the income capitalization approach considering prevailing market capitalization rates, analysis of recent comparable sales transactions, actual sales negotiations and bona fide purchase offers received from third parties and/or consideration of the amount that currently would be required to replace the asset, as adjusted for obsolescence. In general, the Company considers multiple valuation techniques when measuring fair value of an investment. However, in certain circumstances, a single valuation technique may be appropriate. For operational real estate assets, the significant valuation assumptions included the capitalization rate used in the income capitalization valuation, as well as the projected property net operating income and expected hold period. For projects under development or not at stabilization, the significant assumptions included the discount rate, the timing and the estimated costs for the construction completion and project stabilization, projected net operating income and the exit capitalization rate. For the valuation of the preferred equity interests, the significant assumptions used in the discounted cash flow analysis included the discount rate, projected net operating income, the timing of the expected redemption and the exit capitalization rates. For investments in unconsolidated joint ventures, the Company also considered the valuation of any underlying joint venture debt and terms of the joint venture agreement. These valuations were calculated based on market conditions and assumptions made by management at the time the valuation adjustments and impairments were recorded, which may differ materially from actual results if market conditions or the underlying assumptions change. The following table presents information about the Company’s reserves on financial assets that were measured on a fair value basis for the three months ended March 31, 2020. 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 Impairment Charges March 31, 2020 Preferred equity interests $ — $ — $ 90.4 $ 90.4 $ 18.1 The following table presents quantitative information about the significant unobservable inputs used by the Company to determine the fair value (in millions): Quantitative Information about Level 3 Fair Value Measurements Fair Value at Description March 31, 2020 Valuation Technique Unobservable Inputs Range Preferred equity interests $ 90.4 Discounted Cash Flow Discount Rate 8.9%-10.1% Terminal Capitalization Rate 8.2%-9.6% NOI Growth Rate 1%

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2020
Earnings Per Share [Abstract]
Earnings Per Share	11 . Earnings Per Share The following table provides a reconciliation of net income 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 Ended March 31, 2020 2019 Numerators – Basic and Diluted Net income $ 34,628 $ 36,095 Plus: Income attributable to non-controlling interests (295 ) (305 ) Less: Preferred dividends (5,133 ) (8,383 ) Less: Earnings attributable to unvested shares and operating partnership units (149 ) (172 ) Net income attributable to common shareholders after allocation to participating securities $ 29,051 $ 27,235 Denominators – Number of Shares Basic — 193,726 180,546 Assumed conversion of diluted securities — 545 Diluted — 193,726 181,091 Earnings Per Share: Basic $ 0.15 $ 0.15 Diluted $ 0.15 $ 0.15 Performance Restricted Stock Units (“PRSUs”) issued to certain executives in March 2020, March 2019, March 2018 and March 2017 were not considered in the computation of EPS for the three months ended March 31, 2020, as no share units would have been issued under the plan. PRSUs issued in March 2019 and March 2018 were dilutive and the PRSUs issued in March 2017 were not considered in the computation of diluted EPS for the three months ended March 31, 2019, as the calculation was anti-dilutive. For the three months ended March 31, 2020 and 2019, respectively, the Company recorded a mark-to-market adjustment of $2.2 million as income and $0.9 million as expense, respectively, primarily in connection with the PRSUs issued in March 2018. Stock Repurchase Program In 2018, the Company’s Board of Directors authorized a common share repurchase program. In the first three months of 2020, the Company repurchased 0.8 million shares at a cost of $7.5 million. These shares are recorded as Treasury Shares on the Company’s consolidated balance sheet.

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2020
Segment Reporting [Abstract]
Segment Information	12 . Segment Information The tables below present information about the Company’s reportable operating segments (in thousands): Three Months Ended March 31, 2020 Shopping Centers Loan Investments Other Total Rental income $ 112,529 $ — $ 112,529 Other income 16,768 13 16,781 Total revenues 129,297 13 129,310 Rental operation expenses (36,137 ) — (36,137 ) Net operating income 93,160 13 93,173 Depreciation and amortization (42,993 ) (42,993 ) Interest income 3,485 3,485 Other expense, net $ (17,409 ) (17,409 ) Unallocated expenses (A) (31,963 ) (31,963 ) Equity in net income of joint ventures 2,171 2,171 Reserve of preferred equity interests, net (18,057 ) (18,057 ) Gain on sale of joint venture interest 45,681 45,681 Gain on disposition of real estate, net 773 773 Income before tax expense $ 34,861 As of March 31, 2020: Total gross real estate assets $ 4,726,969 $ 4,726,969 Notes receivable, net (B) $ 93,909 $ (93,909 ) $ — Three Months Ended March 31, 2019 Shopping Centers Loan Investments Other Total Rental income $ 112,221 $ — $ 112,221 Other income 18,787 14 18,801 Total revenues 131,008 14 131,022 Rental operation expenses (36,584 ) — (36,584 ) Net operating income 94,424 14 94,438 Impairment charges (620 ) (620 ) Depreciation and amortization (42,608 ) (42,608 ) Interest income 4,521 4,521 Other income, net $ 153 153 Unallocated expenses (A) (35,838 ) (35,838 ) Equity in net income of joint ventures 1,043 1,043 Reserve of preferred equity interests, net (1,099 ) (1,099 ) Gain on disposition of real estate, net 16,377 16,377 Income before tax expense $ 36,367 As of March 31, 2019: Total gross real estate assets $ 4,583,366 $ 4,583,366 Notes receivable, net (B) $ 195,795 $ (176,120 ) $ 19,675 (A) Unallocated expenses consist of General and Administrative Expenses and Interest Expense as listed in the Company’s consolidated statements of operations. (B) Amount includes BRE DDR Joint Venture preferred investment interests (Note 3) classified in Investments in and Advances to Joint Ventures on the Company’s consolidated balance sheets.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2020
Subsequent Events [Abstract]
Subsequent Events	13. Subsequent Events In March 2020, the World Health Organization categorized the novel coronavirus (“COVID-19”) as a pandemic, and it continues to spread throughout the United States and other countries across the world. Federal, state and local governments have taken various actions including the issuance of stay-at-home orders, social distancing guidelines and ordering the temporary closure of non-essential businesses, including many of the Company’s tenants to limit the spread of COVID-19. Accordingly, many of the Company’s tenants have adjusted, reduced or suspended operating activities. The Company has received numerous requests for rent relief including deferment of the payment of rent or rent reductions beginning with April 2020 rent. Discussions with individual tenants that failed to satisfy their April rent obligations are underway. Though the outcome of these discussions is expected to vary from tenant to tenant, the Company expects that it may enter into rent‑deferral arrangements with some tenants, including smaller local operators, whose operations have been significantly impacted by COVID-19. In addition, in order to maintain the Company’s liquidity position and maximize flexibility, the Company’s Board of Directors has elected not to declare a dividend on its common shares for the second quarter of 2020. The ultimate impact of the pandemic and secondary social and economic effects on the Company's results of operations, financial position, liquidity and capital resources remains unclear and cannot be reasonably forecasted at this time.

Nature of Business and Financ_2

Nature of Business and Financial Statement Presentation (Policies)	3 Months Ended
	Mar. 31, 2020
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Nature of Business	Nature of Business SITE Centers Corp. and its related consolidated real estate subsidiaries (collectively, the “Company” or “SITE Centers”) and unconsolidated joint ventures are primarily engaged in the business of acquiring, owning, developing, redeveloping, expanding, leasing, financing and managing shopping centers. Unless otherwise provided, references herein to the Company or SITE Centers include SITE Centers Corp. and its wholly-owned subsidiaries and consolidated joint ventures. The Company’s tenant base primarily includes national and regional retail chains and local tenants. Consequently, the Company’s credit risk is concentrated in the retail industry.
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 (“GAAP”) 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 GAAP 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 GAAP 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 months ended March 31, 2020 and 2019, 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, 2019 .
Principles of Consolidation	Principles of Consolidation The 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 (“VIE”). All significant inter-company balances and transactions have been eliminated in consolidation. Investments in real estate joint ventures 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 is included in consolidated net income (loss). The Company has two unconsolidated joint ventures included in the Company’s joint venture investments that are considered VIEs for which the Company is not the primary beneficiary. The Company’s maximum exposure to losses associated with these VIEs is limited to its aggregate investment, which was $94.5 million and $114.0 million as of March 31, 2020 and December 31, 2019, respectively.
Statements of Cash Flows and Supplemental Disclosure of Non-Cash Investing and Financing Information	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): Three Months Ended March 31, 2020 2019 Dividends declared, but not paid $ 44.0 $ 44.6 Accounts payable related to construction in progress 7.7 8.8 Assumption of buildings due to ground lease terminations 3.0 —
Common Shares	Common Shares The Company declared common share dividends of $0.20 per share for the three months ended March 31, 2020 and 2019, respectively.
New Accounting Standard	New Accounting Standard Accounting for Credit Losses In June 2016, the Financial Accounting Standards Board (the “FASB”) issued an amendment on measurement of credit losses on financial assets held by a reporting entity at each reporting date (Accounting Standards Update (“ASU”) 2016-13, Financial Instruments – Credit Losses, “Topic 326” Accounting for Leases During COVID-19 Pandemic In April 2020, the FASB issued a question-and-answer document (the “Lease Modification Q&A”) focused on the application of lease accounting guidance to lease concessions provided as a result of COVID-19. Under existing lease guidance, the Company would have to determine, on a lease by lease basis, if a lease concession was the result of a new arrangement reached with the tenant (treated with the lease modification accounting framework) or if a lease concession was under the enforceable rights and obligations within the existing lease agreement (precluded from applying the lease modification accounting framework). The Lease Modification Q&A clarifies that entities may elect to not evaluate whether lease-related relief that lessors provide to mitigate the economic effects of COVID-19 on lessees is a lease modification under Topic 842, Leases

Nature of Business and Financ_3

Nature of Business and Financial Statement Presentation (Tables)	3 Months Ended
	Mar. 31, 2020
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): Three Months Ended March 31, 2020 2019 Dividends declared, but not paid $ 44.0 $ 44.6 Accounts payable related to construction in progress 7.7 8.8 Assumption of buildings due to ground lease terminations 3.0 —

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	Mar. 31, 2020
Adoption of Topic 606 [Member]
Schedule of Fee and Other Income	Fee and Other Income on the consolidated statements of operations includes revenue from contracts with customers and other property-related income, primarily composed of theater income, and is recognized in the period earned as follows (in thousands): Three Months Ended March 31, 2020 2019 Revenue from contracts: Asset and property management fees $ 9,325 $ 11,531 Leasing commissions 2,996 1,499 Development fees 870 553 Disposition fees 1,556 1,202 Credit facility guaranty and refinancing fees — 1,800 Total revenue from contracts with customers 14,747 16,585 Other property income: Other 2,034 2,216 Total fee and other income $ 16,781 $ 18,801

Investments in and Advances t_2

Investments in and Advances to Joint Ventures (Tables)	3 Months Ended
	Mar. 31, 2020
Schedule Of Equity Method Investments [Line Items]
Summary of Preferred investments	The preferred investments are summarized as follows (in millions, except properties owned): Preferred Investment (Principal) Redemption Date Initial March 31, 2020 Valuation Allowance Net of Reserve Properties Owned at March 31, 2020 BRE DDR III October 2021 $ 300.0 $ 132.4 $ (88.2 ) $ 44.2 13 BRE DDR IV December 2022 82.6 64.0 (17.8 ) 46.2 5 $ 382.6 $ 196.4 $ (106.0 ) $ 90.4
Unconsolidated Joint Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Condensed Combined Financial Information of Company's Unconsolidated Joint Venture Investments	At March 31, 2020 and December 31, 2019, the Company had ownership interests in various unconsolidated joint ventures that had an investment in 78 and 100 shopping center properties, respectively. Condensed combined financial information of the Company’s unconsolidated joint venture investments is as follows (in thousands): March 31, 2020 December 31, 2019 Condensed Combined Balance Sheets Land $ 556,291 $ 895,427 Buildings 1,687,612 2,583,053 Fixtures and tenant improvements 154,278 233,303 2,398,181 3,711,783 Less: Accumulated depreciation (548,541 ) (949,879 ) 1,849,640 2,761,904 Construction in progress and land 52,603 58,855 Real estate, net 1,902,243 2,820,759 Cash and restricted cash 59,184 109,260 Receivables, net 22,442 37,191 Other assets, net 105,457 147,129 $ 2,089,326 $ 3,114,339 Mortgage debt $ 1,434,981 $ 1,640,146 Notes and accrued interest payable to the Company 4,896 4,975 Other liabilities 97,384 142,754 1,537,261 1,787,875 Redeemable preferred equity – (A) 218,315 217,871 Accumulated equity 333,750 1,108,593 $ 2,089,326 $ 3,114,339 Company's share of accumulated equity $ 74,165 $ 186,247 Redeemable preferred equity, net (B) 93,909 112,589 Basis differentials 7,518 (6,864 ) Deferred development fees, net of portion related to the Company's interest (1,505 ) (2,452 ) Amounts payable to the Company 4,896 4,975 Investments in and Advances to Joint Ventures, net $ 178,983 $ 294,495 (A) Includes PIK that the Company has accrued since March 2017 of $18.4 million and $17.3 million at March 31, 2020 and December 31, 2019, respectively, which, in each case, was fully reserved. (B) Amount is net of the valuation allowance of $106.0 million and $87.9 million at March 31, 2020 and December 31, 2019, respectively, and the fully reserved PIK.
Condensed Combined Statements of Operations of Unconsolidated Joint Venture Investments	Three Months Ended March 31, 2020 2019 Condensed Combined Statements of Operations Revenues from operations $ 85,621 $ 109,103 Expenses from operations: Operating expenses 24,415 30,061 Impairment charges 31,720 12,267 Depreciation and amortization 30,104 39,504 Interest expense 17,755 25,656 Preferred share expense 4,530 5,459 Other expense, net 4,657 5,456 113,181 118,403 Loss before gain on disposition of real estate (27,560 ) (9,300 ) Gain on disposition of real estate, net 8,906 15,966 Net (loss) income attributable to unconsolidated joint ventures $ (18,654 ) $ 6,666 Company's share of equity in net income of joint ventures $ 2,015 $ 845 Basis differential adjustments (A) 156 198 Equity in net income of joint ventures $ 2,171 $ 1,043 (A) The difference between the Company’s share of net income, as reported above, and the amounts included in the Company’s consolidated statements of operations is attributable to the amortization of basis differentials, unrecognized preferred PIK, the recognition of deferred gains, differences in gain (loss) on sale of certain assets recognized due to the basis differentials and other than temporary impairment charges.
Schedule of Fee and Other Income	Revenues earned by the Company related to all of the Company’s unconsolidated joint ventures and interest income on its preferred interests in the BRE DDR Joint Ventures (as defined below) are as follows (in millions): Three Months Ended March 31, 2020 2019 Revenue from contracts: Asset and property management fees $ 4.5 $ 5.2 Development fees, leasing commissions and other 2.6 1.4 7.1 6.6 Other: Interest income 3.5 4.2 Other 0.7 0.8 4.2 5.0 $ 11.3 $ 11.6

Investment in and Advances to_2

Investment in and Advances to Affiliate (Tables)	3 Months Ended
	Mar. 31, 2020
Retail Value Inc. [Member]
Schedule of Fee and Other Income	Revenue from contracts with RVI is included in Fee and Other Income on the consolidated statements of operations and was composed of the following (in millions): Three Months Ended March 31, 2020 2019 Revenue from contracts with RVI: Asset and property management fees $ 4.8 $ 5.8 Leasing commissions 1.2 0.8 Disposition fees 1.6 1.1 Credit facility guaranty and refinancing fees — 1.8 Total revenue from contracts with RVI $ 7.6 $ 9.5

Other Assets, net (Tables)

Other Assets, net (Tables)	3 Months Ended
	Mar. 31, 2020
Other Assets [Abstract]
Components of Other Assets	Other assets consist of the following (in thousands): March 31, 2020 December 31, 2019 Intangible assets: In-place leases, net $ 23,150 $ 25,114 Above-market leases, net 2,956 3,193 Lease origination costs 3,431 3,720 Tenant relationships, net 24,488 25,994 Total intangible assets, net (A) 54,025 58,021 Operating lease ROU assets 22,013 21,792 Notes receivable (B) — 7,541 Other assets: Prepaid expenses 10,826 6,104 Other assets 3,329 2,959 Deposits 3,792 4,087 Deferred charges, net 7,629 8,127 Total other assets, net $ 101,614 $ 108,631 Below-market leases, net (other liabilities) $ 45,700 $ 46,961 (A) The Company recorded amortization expense related to its intangibles, excluding above- and below-market leases, of $3.8 million and $5.0 million for the three months ended March 31, 2020 and 2019, respectively. (B) Repaid in full in the first quarter of 2020.

Revolving Credit Facilities (Ta

Revolving Credit Facilities (Tables)	3 Months Ended
	Mar. 31, 2020
Debt Disclosure [Abstract]
Information Regarding Company's Revolving Credit Facilities	The following table discloses certain information regarding the Company’s Revolving Credit Facilities (as defined below) (in millions): Carrying Amount at March 31, 2020 Weighted-Average Interest Rate at March 31, 2020 Maturity Date Unsecured Credit Facility $ 645.0 1.9% January 2024 PNC Facility — N/A January 2024

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2020
Fair Value Disclosures [Abstract]
Schedule of Carrying Values Different from Estimated Fair Values	Carrying values that are different from estimated fair values are summarized as follows (in thousands): March 31, 2020 December 31, 2019 Carrying Amount Fair Value Carrying Amount Fair Value Senior Notes $ 1,447,997 $ 1,511,258 $ 1,647,963 $ 1,744,581 Revolving Credit Facilities and term loan 744,504 745,000 104,460 105,084 Mortgage Indebtedness 54,210 55,066 94,874 96,276 $ 2,246,711 $ 2,311,324 $ 1,847,297 $ 1,945,941

Other Comprehensive Loss (Table

Other Comprehensive Loss (Tables)	3 Months Ended
	Mar. 31, 2020
Equity [Abstract]
Changes in Accumulated Other Comprehensive Loss by Component	The changes in Accumulated Other Comprehensive Loss by component are as follows (in thousands): Gains and Losses on Cash Flow Hedges Foreign Currency Items Total Balance, December 31, 2019 $ (1,172 ) $ 681 $ (491 ) Other comprehensive loss before reclassifications — (785 ) (785 ) Change in cash flow hedges reclassed to earnings (A) 1,172 — 1,172 Net current-period other comprehensive income (loss) 1,172 (785 ) 387 Balance, March 31, 2020 $ — $ (104 ) $ (104 ) (A) Included in this amount, $0.1 million is classified as interest expense and $1.1 million is classified as other expense in the Company’s consolidated statement of operations.

Impairment Charges and Reserv_2

Impairment Charges and Reserves (Tables)	3 Months Ended
	Mar. 31, 2020
Asset Impairment Charges [Abstract]
Impairment Charges and Reserves on Assets or Investments	The Company recorded impairment charges and reserves 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 Ended March 31, 2020 2019 Assets marketed for sale $ — $ 0.6 Reserve of preferred equity interests (A) 18.1 1.1 Total impairment charges $ 18.1 $ 1.7 (A) As a result of an aggregate valuation allowance on its preferred equity interests in the BRE DDR Joint Ventures (Note 3).
Reserves Measured at Fair Value on Non-Recurring Basis	The following table presents information about the Company’s reserves on financial assets that were measured on a fair value basis for the three months ended March 31, 2020. 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 Impairment Charges March 31, 2020 Preferred equity interests $ — $ — $ 90.4 $ 90.4 $ 18.1
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 (in millions): Quantitative Information about Level 3 Fair Value Measurements Fair Value at Description March 31, 2020 Valuation Technique Unobservable Inputs Range Preferred equity interests $ 90.4 Discounted Cash Flow Discount Rate 8.9%-10.1% Terminal Capitalization Rate 8.2%-9.6% NOI Growth Rate 1%

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2020
Earnings Per Share [Abstract]
Reconciliation of Net Income and Number of Common Shares Used in Computations of "Basic" EPS and "Diluted" EPS	The following table provides a reconciliation of net income 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 Ended March 31, 2020 2019 Numerators – Basic and Diluted Net income $ 34,628 $ 36,095 Plus: Income attributable to non-controlling interests (295 ) (305 ) Less: Preferred dividends (5,133 ) (8,383 ) Less: Earnings attributable to unvested shares and operating partnership units (149 ) (172 ) Net income attributable to common shareholders after allocation to participating securities $ 29,051 $ 27,235 Denominators – Number of Shares Basic — 193,726 180,546 Assumed conversion of diluted securities — 545 Diluted — 193,726 181,091 Earnings Per Share: Basic $ 0.15 $ 0.15 Diluted $ 0.15 $ 0.15

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2020
Segment Reporting [Abstract]
Summary of Information about Company's Reportable Operating Segments	The tables below present information about the Company’s reportable operating segments (in thousands): Three Months Ended March 31, 2020 Shopping Centers Loan Investments Other Total Rental income $ 112,529 $ — $ 112,529 Other income 16,768 13 16,781 Total revenues 129,297 13 129,310 Rental operation expenses (36,137 ) — (36,137 ) Net operating income 93,160 13 93,173 Depreciation and amortization (42,993 ) (42,993 ) Interest income 3,485 3,485 Other expense, net $ (17,409 ) (17,409 ) Unallocated expenses (A) (31,963 ) (31,963 ) Equity in net income of joint ventures 2,171 2,171 Reserve of preferred equity interests, net (18,057 ) (18,057 ) Gain on sale of joint venture interest 45,681 45,681 Gain on disposition of real estate, net 773 773 Income before tax expense $ 34,861 As of March 31, 2020: Total gross real estate assets $ 4,726,969 $ 4,726,969 Notes receivable, net (B) $ 93,909 $ (93,909 ) $ — Three Months Ended March 31, 2019 Shopping Centers Loan Investments Other Total Rental income $ 112,221 $ — $ 112,221 Other income 18,787 14 18,801 Total revenues 131,008 14 131,022 Rental operation expenses (36,584 ) — (36,584 ) Net operating income 94,424 14 94,438 Impairment charges (620 ) (620 ) Depreciation and amortization (42,608 ) (42,608 ) Interest income 4,521 4,521 Other income, net $ 153 153 Unallocated expenses (A) (35,838 ) (35,838 ) Equity in net income of joint ventures 1,043 1,043 Reserve of preferred equity interests, net (1,099 ) (1,099 ) Gain on disposition of real estate, net 16,377 16,377 Income before tax expense $ 36,367 As of March 31, 2019: Total gross real estate assets $ 4,583,366 $ 4,583,366 Notes receivable, net (B) $ 195,795 $ (176,120 ) $ 19,675 (A) Unallocated expenses consist of General and Administrative Expenses and Interest Expense as listed in the Company’s consolidated statements of operations. (B) Amount includes BRE DDR Joint Venture preferred investment interests (Note 3) classified in Investments in and Advances to Joint Ventures on the Company’s consolidated balance sheets.

Nature of Business and Financ_4

Nature of Business and Financial Statement Presentation - Additional Information (Detail) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2020USD ($)JointVenture$ / shares	Mar. 31, 2019$ / shares	Dec. 31, 2019USD ($)
Nature Of Business And Financial Statement Presentation [Line Items]
Maximum exposure to losses associated with VIEs | $	$ 94.5		$ 114
Common share dividend declared per share | $ / shares	$ 0.20	$ 0.20
Variable Interest Entity, Not Primary Beneficiary [Member]
Nature Of Business And Financial Statement Presentation [Line Items]
Number of unconsolidated joint ventures | JointVenture	2

Nature of Business and Financ_5

Nature of Business and Financial Statement Presentation - Non-cash Investing and Financing Activities (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Other Significant Noncash Transactions [Line Items]
Dividends declared, but not paid	$ 44,047	$ 44,600	$ 44,036
Accounts payable related to construction in progress	7,700	8,800
Building [Member]
Other Significant Noncash Transactions [Line Items]
Assumption of buildings due to ground lease terminations	$ 3,000	$ 0

Revenue Recognition - Schedule

Revenue Recognition - Schedule of Fee and Other Income (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Disaggregation Of Revenue [Line Items]
Total revenue from contracts with customers	$ 14,747	$ 16,585
Other property income:
Other	2,034	2,216
Total fee and other income	16,781	18,801
Asset and Property Management Fees [Member]
Disaggregation Of Revenue [Line Items]
Total revenue from contracts with customers	9,325	11,531
Leasing Commissions [Member]
Disaggregation Of Revenue [Line Items]
Total revenue from contracts with customers	2,996	1,499
Development Fees [Member]
Disaggregation Of Revenue [Line Items]
Total revenue from contracts with customers	870	553
Disposition Fees [Member]
Disaggregation Of Revenue [Line Items]
Total revenue from contracts with customers	1,556	1,202
Credit Facility Guaranty and Refinancing Fees [Member]
Disaggregation Of Revenue [Line Items]
Total revenue from contracts with customers	$ 0	$ 1,800

Investments in and Advances t_3

Investments in and Advances to Joint Ventures - Additional Information (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)ShoppingCenterInvestment	Mar. 31, 2019USD ($)	Feb. 29, 2020	Dec. 31, 2019ShoppingCenter
Schedule Of Equity Method Investments [Line Items]
Reserve of preferred equity interests	$ 18,057	$ 1,099
Net proceeds from sale of interest in joint venture	140,519	0
Gain on sale of joint venture interest	45,681	$ 0
DDRTC Joint Venture [Member]
Schedule Of Equity Method Investments [Line Items]
Percentage of joint venture sold			15.00%
Net proceeds from sale of interest in joint venture	140,500
Gain on sale of joint venture interest	$ 45,700
Unconsolidated Joint Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Shopping centers owned | ShoppingCenter	78			100
Unconsolidated Joint Ventures [Member] | Shopping Centers [Member]
Schedule Of Equity Method Investments [Line Items]
Number of properties sold | ShoppingCenter	1
Proceeds from sale of joint venture assets	$ 25,000
Company's proportionate share of gain on sale of joint venture assets	$ 1,700
BRE DDR Joint Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Number of unconsolidated investments | Investment	2
Maximum preferred investment fixed distribution deferral	2.00%
BRE DDR Joint Ventures [Member] | Preferred Equity Fixed Dividend Rate [Member]
Schedule Of Equity Method Investments [Line Items]
Preferred equity fixed dividend rate per annum	8.50%
BRE DDR III [Member] | Affiliate of Blackstone [Member]
Schedule Of Equity Method Investments [Line Items]
Ownership interest of joint venture partner	95.00%
BRE DDR III [Member] | Affiliates of SITE Centers [Member]
Schedule Of Equity Method Investments [Line Items]
Ownership interest of joint venture partner	5.00%
BRE DDR IV [Member] | Affiliate of Blackstone [Member]
Schedule Of Equity Method Investments [Line Items]
Ownership interest of joint venture partner	95.00%
BRE DDR IV [Member] | Affiliates of SITE Centers [Member]
Schedule Of Equity Method Investments [Line Items]
Ownership interest of joint venture partner	5.00%

Investments in and Advances t_4

Investments in and Advances to Joint Ventures - Condensed Combined Financial Information of Company's Unconsolidated Joint Venture Investments (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Condensed Combined Balance Sheets
Land	$ 881,360	$ 881,397
Buildings	3,289,988	3,277,440
Fixtures and tenant improvements	493,371	491,312
Total real estate rental property	4,664,719	4,650,149
Less: Accumulated depreciation	(1,323,390)	(1,289,148)
Real estate rental property, net	3,341,329	3,361,001
Construction in progress and land	62,250	59,663
Total real estate assets, net	3,403,579	3,420,664
Other assets, net	101,614	108,631
Total assets	4,445,081	4,093,622
Mortgage debt	54,210	94,874
Total liabilities	2,477,603	2,112,144
Total liabilities and equity	4,445,081	4,093,622
Company's share of accumulated equity	74,165	186,247
Redeemable preferred equity, net	93,909	112,589
Basis differentials	7,518	(6,864)
Deferred development fees, net of portion related to the Company's interest	(1,505)	(2,452)
Amounts payable to the Company	4,896	4,975
Investments in and Advances to Joint Ventures, net	178,983	294,495
Unconsolidated Joint Ventures [Member]
Condensed Combined Balance Sheets
Land	556,291	895,427
Buildings	1,687,612	2,583,053
Fixtures and tenant improvements	154,278	233,303
Total real estate rental property	2,398,181	3,711,783
Less: Accumulated depreciation	(548,541)	(949,879)
Real estate rental property, net	1,849,640	2,761,904
Construction in progress and land	52,603	58,855
Total real estate assets, net	1,902,243	2,820,759
Cash and restricted cash	59,184	109,260
Receivables, net	22,442	37,191
Other assets, net	105,457	147,129
Total assets	2,089,326	3,114,339
Mortgage debt	1,434,981	1,640,146
Notes and accrued interest payable to the Company	4,896	4,975
Other liabilities	97,384	142,754
Total liabilities	1,537,261	1,787,875
Redeemable preferred equity – SITE Centers	218,315	217,871
Accumulated equity	333,750	1,108,593
Total liabilities and equity	$ 2,089,326	$ 3,114,339

Investments in and Advances t_5

Investments in and Advances to Joint Ventures - Condensed Combined Financial Information of Company's Unconsolidated Joint Venture Investments (Parenthetical) (Detail) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Schedule Of Equity Method Investments [Line Items]
Preferred investment interest valuation allowance	$ 106	$ 87.9
PIK [Member]
Schedule Of Equity Method Investments [Line Items]
Redeemable preferred equity, net	$ 18.4	$ 17.3

Investments in and Advances t_6

Investments in and Advances to Joint Ventures - Condensed Combined Statements of Operations of Unconsolidated Joint Venture Investments (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Expenses from operations:
Operating expenses	$ 90,506	$ 93,924
Impairment charges	0	620
Depreciation and amortization	42,993	42,608
Interest expense	20,587	21,726
Other expense, net	17,409	(153)
Gain on disposition of real estate, net	773	16,377
Company's share of equity in net income of joint ventures	2,015	845
Basis differential adjustments	156	198
Equity in net income of joint ventures	2,171	1,043
Unconsolidated Joint Ventures [Member]
Condensed Combined Statements of Operations
Revenues from operations	85,621	109,103
Expenses from operations:
Operating expenses	24,415	30,061
Impairment charges	31,720	12,267
Depreciation and amortization	30,104	39,504
Interest expense	17,755	25,656
Preferred share expense	4,530	5,459
Other expense, net	4,657	5,456
Total expenses	113,181	118,403
Loss before gain on disposition of real estate	(27,560)	(9,300)
Gain on disposition of real estate, net	8,906	15,966
Net (loss) income attributable to unconsolidated joint ventures	$ (18,654)	$ 6,666

Investments in and Advances t_7

Investments in and Advances to Joint Ventures - Revenues Earned By the Company from Unconsolidated Joint Ventures and Interest Income (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Revenue from contracts:
Total revenue from contracts with customers	$ 14,747	$ 16,585
Other:
Interest income	3,500	4,200
Other	700	800
Other, Total	4,200	5,000
Revenue and other income	11,300	11,600
Asset and Property Management Fees [Member]
Revenue from contracts:
Total revenue from contracts with customers	9,325	11,531
Unconsolidated Joint Ventures [Member]
Revenue from contracts:
Total revenue from contracts with customers	7,100	6,600
Unconsolidated Joint Ventures [Member] | Asset and Property Management Fees [Member]
Revenue from contracts:
Total revenue from contracts with customers	4,500	5,200
Unconsolidated Joint Ventures [Member] | Development Fees, Leasing Commissions and Other [Member]
Revenue from contracts:
Total revenue from contracts with customers	$ 2,600	$ 1,400

Investments in and Advances t_8

Investments in and Advances to Joint Ventures - Summary of Preferred investments (Detail) $ in Millions	3 Months Ended
	Mar. 31, 2020USD ($)ShoppingCenter	Dec. 31, 2019USD ($)	Dec. 31, 2015USD ($)	Oct. 31, 2014USD ($)
Schedule Of Equity Method Investments [Line Items]
Preferred Investment, Valuation Allowance	$ (106)	$ (87.9)
BRE DDR III [Member]
Schedule Of Equity Method Investments [Line Items]
Redemption Date	2021-10
Preferred Investment (Principal)	$ 132.4			$ 300
Preferred Investment, Valuation Allowance	(88.2)
Preferred Investment, Net of Reserve	$ 44.2
Properties Owned | ShoppingCenter	13
BRE DDR IV [Member]
Schedule Of Equity Method Investments [Line Items]
Redemption Date	2022-12
Preferred Investment (Principal)	$ 64		$ 82.6
Preferred Investment, Valuation Allowance	(17.8)
Preferred Investment, Net of Reserve	$ 46.2
Properties Owned | ShoppingCenter	5
BRE DDR III and IV [Member]
Schedule Of Equity Method Investments [Line Items]
Preferred Investment (Principal)	$ 196.4		$ 382.6
Preferred Investment, Valuation Allowance	(106)
Preferred Investment, Net of Reserve	$ 90.4

Investment in and Advances to_3

Investment in and Advances to Affiliate - Additional Information (Detail) $ in Millions	Mar. 31, 2020USD ($)
Retail Value Inc. [Member]
Investments In And Advances To Affiliates [Line Items]
Preferred investment	$ 190

Investment in and Advances to_4

Investment in and Advances to Affiliate - Schedule of Revenue From Contracts With Customers Included in Fee and Other Income on Consolidated Statement of Operations (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Disaggregation Of Revenue [Line Items]
Total revenue from contracts with RVI	$ 14,747	$ 16,585
Retail Value Inc. [Member]
Disaggregation Of Revenue [Line Items]
Total revenue from contracts with RVI	7,600	9,500
Asset and Property Management Fees [Member]
Disaggregation Of Revenue [Line Items]
Total revenue from contracts with RVI	9,325	11,531
Asset and Property Management Fees [Member] | Retail Value Inc. [Member]
Disaggregation Of Revenue [Line Items]
Total revenue from contracts with RVI	4,800	5,800
Leasing Commissions [Member]
Disaggregation Of Revenue [Line Items]
Total revenue from contracts with RVI	2,996	1,499
Leasing Commissions [Member] | Retail Value Inc. [Member]
Disaggregation Of Revenue [Line Items]
Total revenue from contracts with RVI	1,200	800
Disposition Fees [Member]
Disaggregation Of Revenue [Line Items]
Total revenue from contracts with RVI	1,556	1,202
Disposition Fees [Member] | Retail Value Inc. [Member]
Disaggregation Of Revenue [Line Items]
Total revenue from contracts with RVI	1,600	1,100
Credit Facility Guaranty and Refinancing Fees [Member]
Disaggregation Of Revenue [Line Items]
Total revenue from contracts with RVI	0	1,800
Credit Facility Guaranty and Refinancing Fees [Member] | Retail Value Inc. [Member]
Disaggregation Of Revenue [Line Items]
Total revenue from contracts with RVI	$ 0	$ 1,800

Other Assets, net - Components

Other Assets, net - Components of Other Assets (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019
Intangible assets:
Total intangible assets, net	$ 54,025	$ 58,021
Operating lease ROU assets	22,013	21,792
Notes receivable	0	7,541	$ 19,675
Other assets:
Prepaid expenses	10,826	6,104
Other assets	3,329	2,959
Deposits	3,792	4,087
Deferred charges, net	7,629	8,127
Total other assets, net	101,614	108,631
Below-market leases, net (other liabilities)	45,700	46,961
In-Place Leases, Net [Member]
Intangible assets:
Total intangible assets, net	23,150	25,114
Above-Market Leases, Net [Member]
Intangible assets:
Total intangible assets, net	2,956	3,193
Lease Origination Costs [Member]
Intangible assets:
Total intangible assets, net	3,431	3,720
Tenant Relationships, Net [Member]
Intangible assets:
Total intangible assets, net	$ 24,488	$ 25,994

Other Assets, net - Component_2

Other Assets, net - Components of Other Assets (Parenthetical) (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Intangible Assets Net Excluding Goodwill [Abstract]
Amortization expense	$ 3.8	$ 5

Revolving Credit Facilities - I

Revolving Credit Facilities - Information Regarding Company's Revolving Credit Facilities (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Carrying Amount	$ 645,000	$ 5,000
Revolving Credit Facility [Member] | Unsecured Debt [Member] | J.P. Morgan Chase Bank, N.A. and Wells Fargo Securities, LLC [Member]
Debt Instrument [Line Items]
Carrying Amount	$ 645,000
Weighted-Average Interest Rate	1.90%
Lines of Credit Maturity Date	2024-01
Revolving Credit Facility [Member] | Unsecured Debt [Member] | PNC Bank National Association [Member]
Debt Instrument [Line Items]
Carrying Amount	$ 0
Lines of Credit Maturity Date	2024-01

Revolving Credit Facilities - A

Revolving Credit Facilities - Additional Information (Detail) - Unsecured Debt [Member] - Revolving Credit Facility [Member]	3 Months Ended
	Mar. 31, 2020USD ($)
Debt Instrument [Line Items]
Covenant compliance	The Company was in compliance with these financial covenants at March 31, 2020.
LIBOR [Member]
Debt Instrument [Line Items]
Specified spread line of credit facility	0.90%
Alternative Base Rate [Member]
Debt Instrument [Line Items]
Specified spread line of credit facility	0.00%
Wells Fargo Securities, LLC, J.P. Morgan Chase Bank, N.A., Citizens Bank, N.A., RBC Capital Markets and U.S. Bank National Association [Member]
Debt Instrument [Line Items]
Lines of Credit Maturity Date	2024-01
Line of credit options to extended maturity date	2025-01
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	and a maturity date of January 2024, subject to two six-month options to extend the maturity to January 2025 upon the Company’s request (subject to satisfaction of certain conditions)
Wells Fargo Securities, LLC, J.P. Morgan Chase Bank, N.A., Citizens Bank, N.A., RBC Capital Markets and U.S. Bank National Association [Member] | Maximum [Member]
Debt Instrument [Line Items]
Unsecured revolving credit facility borrowing capacity	$ 950,000,000
Accordion feature	$ 1,450,000,000
PNC Bank National Association [Member]
Debt Instrument [Line Items]
Lines of Credit Maturity Date	2024-01
Unsecured revolving credit facility	$ 20,000,000
PNC Bank National Association [Member] | Retail Value Inc. [Member]
Debt Instrument [Line Items]
Guaranty borrowing capacity	$ 30,000,000

Senior Notes - Additional Infor

Senior Notes - Additional Information (Detail) - 4.625% Senior Notes Due 2022 [Member] $ in Millions	1 Months Ended
	Mar. 31, 2020USD ($)
Debt Instrument [Line Items]
Repayment of debt	$ 200
Debt instrument, interest rate	4.625%
Debt instrument maturity year	2022
Other (Expense) Income, Net [Member]
Debt Instrument [Line Items]
Payment of make-whole amount on debt	$ 16.6

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Carrying Values Different from Estimated Fair Values (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior Notes	$ 1,447,997	$ 1,647,963
Revolving Credit Facilities and term loan	744,504	104,460
Mortgage Indebtedness	54,210	94,874
Total indebtedness	2,246,711	1,847,297
Fair Value [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior Notes	1,511,258	1,744,581
Revolving Credit Facilities and term loan	745,000	105,084
Mortgage Indebtedness	55,066	96,276
Total indebtedness	$ 2,311,324	$ 1,945,941

Other Comprehensive Loss - Chan

Other Comprehensive Loss - Changes in Accumulated Other Comprehensive Loss by Component (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance	$ 1,981,478
Other comprehensive loss before reclassifications	(785)
Change in cash flow hedges reclassed to earnings	1,172
Net current-period other comprehensive income (loss)	387
Ending Balance	1,967,478
Gains and Losses on Cash Flow Hedges [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance	(1,172)
Other comprehensive loss before reclassifications	0
Change in cash flow hedges reclassed to earnings	1,172
Net current-period other comprehensive income (loss)	1,172
Ending Balance	0
Foreign Currency Items [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance	681
Other comprehensive loss before reclassifications	(785)
Change in cash flow hedges reclassed to earnings	0
Net current-period other comprehensive income (loss)	(785)
Ending Balance	(104)
Accumulated Other Comprehensive Loss [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance	(491)
Ending Balance	$ (104)

Other Comprehensive Loss - Ch_2

Other Comprehensive Loss - Changes in Accumulated Other Comprehensive Loss by Component (Parenthetical) (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)
Accumulated Other Comprehensive Income Loss [Line Items]
Change in cash flow hedges reclassed to earnings	$ 1,172
Interest Expense [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Change in cash flow hedges reclassed to earnings	100
Other Expense [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Change in cash flow hedges reclassed to earnings	$ 1,100

Impairment Charges and Reserv_3

Impairment Charges and Reserves - Impairment Charges on Assets or Investments (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Impairment Charges And Impairment Of Joint Venture Investments [Abstract]
Assets marketed for sale	$ 0	$ 600
Reserve of preferred equity interests	18,057	1,099
Total impairment charges	$ 18,100	$ 1,700

Impairment Charges and Reserv_4

Impairment Charges and Reserves - Reserves Measured at Fair Value on Non-Recurring Basis (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Preferred equity interests, Total Impairment Charges	$ 18,057	$ 1,099
Fair Value Measurements [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Preferred equity interests, Fair Value Measurements	90,400
Fair Value Measurements [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Preferred equity interests, Fair Value Measurements	0
Fair Value Measurements [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Preferred equity interests, Fair Value Measurements	0
Fair Value Measurements [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Preferred equity interests, Fair Value Measurements	$ 90,400

Impairment Charges and Reserv_5

Impairment Charges and Reserves - Summary of Significant Unobservable Inputs (Detail) - Fair Value Measurements [Member] $ in Millions	3 Months Ended
	Mar. 31, 2020USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Preferred equity interests, Fair Value	$ 90.4
Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Preferred equity interests, Fair Value	90.4
Preferred Equity Interests [Member] | Level 3 [Member] | Discounted Cash Flow [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Preferred equity interests, Fair Value	$ 90.4
Preferred Equity Interests [Member] | Level 3 [Member] | Discounted Cash Flow [Member] | NOI Growth Rate [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unobservable inputs rate	1.00%
Preferred Equity Interests [Member] | Level 3 [Member] | Discounted Cash Flow [Member] | Minimum [Member] | Discount Rate [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unobservable inputs rate	8.90%
Preferred Equity Interests [Member] | Level 3 [Member] | Discounted Cash Flow [Member] | Minimum [Member] | Terminal Capitalization Rate [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unobservable inputs rate	8.20%
Preferred Equity Interests [Member] | Level 3 [Member] | Discounted Cash Flow [Member] | Maximum [Member] | Discount Rate [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unobservable inputs rate	10.10%
Preferred Equity Interests [Member] | Level 3 [Member] | Discounted Cash Flow [Member] | Maximum [Member] | Terminal Capitalization Rate [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unobservable inputs rate	9.60%

Earnings Per Share - Reconcilia

Earnings Per Share - Reconciliation of Net Income 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
	Mar. 31, 2020	Mar. 31, 2019
Earnings Per Share [Abstract]
Net income	$ 34,628	$ 36,095
Plus: Income attributable to non-controlling interests	(295)	(305)
Less: Preferred dividends	(5,133)	(8,383)
Less: Earnings attributable to unvested shares and operating partnership units	(149)	(172)
Net income attributable to common shareholders after allocation to participating securities	$ 29,051	$ 27,235
Denominators – Number of Shares
Basic—Average shares outstanding	193,726	180,546
Assumed conversion of diluted securities	0	545
Diluted—Average shares outstanding	193,726	181,091
Earnings Per Share:
Basic	$ 0.15	$ 0.15
Diluted	$ 0.15	$ 0.15

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Detail) - USD ($) $ in Thousands, shares in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Shares repurchased	0.8
Shares repurchased at cost	$ 7,500	$ 14,069
Performance Restricted Stock Units [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Mark-to-market adjustment	$ 2,200	$ (900)

Segment Information - Summary o

Segment Information - Summary of Information about Company's Reportable Operating Segments (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Segment Reporting Information [Line Items]
Rental income	$ 112,529	$ 112,221
Other income	16,781	18,801
Total revenue from operations	129,310	131,022
Rental operation expenses	(36,137)	(36,584)
Net operating income	93,173	94,438
Impairment charges	0	(620)
Depreciation and amortization	(42,993)	(42,608)
Interest income	3,485	4,521
Other income (expense), net	(17,409)	153
Unallocated expenses	(31,963)	(35,838)
Equity in net income of joint ventures	2,171	1,043
Reserve of preferred equity interests, net	(18,057)	(1,099)
Gain on sale of joint venture interest	45,681	0
Gain on disposition of real estate, net	773	16,377
Income before tax expense	34,861	36,367
Total gross real estate assets	4,726,969	4,583,366
Notes receivable, net	0	19,675	$ 7,541
Operating Segments [Member] | Shopping Center [Member]
Segment Reporting Information [Line Items]
Rental income	112,529	112,221
Other income	16,768	18,787
Total revenue from operations	129,297	131,008
Rental operation expenses	(36,137)	(36,584)
Net operating income	93,160	94,424
Impairment charges		(620)
Depreciation and amortization	(42,993)	(42,608)
Interest income	0	0
Other income (expense), net	0	0
Unallocated expenses	0	0
Equity in net income of joint ventures	2,171	1,043
Reserve of preferred equity interests, net	0	0
Gain on sale of joint venture interest	45,681
Gain on disposition of real estate, net	773	16,377
Income before tax expense	0	0
Total gross real estate assets	4,726,969	4,583,366
Notes receivable, net	0	0
Operating Segments [Member] | Loan Investments [Member]
Segment Reporting Information [Line Items]
Rental income	0	0
Other income	13	14
Total revenue from operations	13	14
Rental operation expenses	0	0
Net operating income	13	14
Impairment charges		0
Depreciation and amortization	0	0
Interest income	3,485	4,521
Other income (expense), net	0	0
Unallocated expenses	0	0
Equity in net income of joint ventures	0	0
Reserve of preferred equity interests, net	(18,057)	(1,099)
Gain on sale of joint venture interest	0
Gain on disposition of real estate, net	0	0
Income before tax expense	0	0
Total gross real estate assets	0	0
Notes receivable, net	93,909	195,795
Corporate, Non-Segment [Member]
Segment Reporting Information [Line Items]
Rental income	0	0
Other income	0	0
Total revenue from operations	0	0
Rental operation expenses	0	0
Net operating income	0	0
Impairment charges		0
Depreciation and amortization	0	0
Interest income	0	0
Other income (expense), net	(17,409)	153
Unallocated expenses	(31,963)	(35,838)
Equity in net income of joint ventures	0	0
Reserve of preferred equity interests, net	0	0
Gain on sale of joint venture interest	0
Gain on disposition of real estate, net	0	0
Income before tax expense	0	0
Total gross real estate assets	0	0
Notes receivable, net	$ (93,909)	$ (176,120)