SITE Centers (SITC) 10-Q 29 Apr 21 2021 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - $ / shares	3 Months Ended
	Mar. 31, 2021	Apr. 19, 2021	Dec. 31, 2020
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2021
Document Fiscal Year Focus	2021
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		211,031,152
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

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Assets
Land	$ 947,411	$ 953,556
Buildings	3,479,583	3,488,499
Fixtures and tenant improvements	519,550	509,866
Total real estate rental property	4,946,544	4,951,921
Less: Accumulated depreciation	(1,463,598)	(1,427,057)
Real estate rental property, net	3,482,946	3,524,864
Construction in progress and land	38,004	37,467
Total real estate assets, net	3,520,950	3,562,331
Investments in and advances to joint ventures, net	75,982	77,297
Investment in and advances to affiliate	190,035	190,035
Cash and cash equivalents	190,833	69,742
Restricted cash	2,868	4,672
Accounts receivable	63,760	73,517
Other assets, net	130,952	130,690
Total assets	4,175,380	4,108,284
Unsecured indebtedness:
Senior notes, net	1,450,152	1,449,613
Term loan, net	99,679	99,635
Revolving credit facilities	0	135,000
Total unsecured indebtedness	1,549,831	1,684,248
Mortgage indebtedness, net	230,632	249,260
Total indebtedness	1,780,463	1,933,508
Accounts payable and other liabilities	195,050	215,109
Dividends payable	28,263	14,844
Total liabilities	2,003,776	2,163,461
Commitments and contingencies
SITE Centers Equity
Common shares, with par value, $0.10 stated value; 300,000,000 shares authorized; 211,035,935 and 193,995,499 shares issued at March 31, 2021 and December 31, 2020, respectively	21,102	19,400
Additional paid-in capital	5,933,685	5,705,164
Accumulated distributions in excess of net income	(4,111,779)	(4,099,534)
Deferred compensation obligation	4,511	5,479
Accumulated other comprehensive loss	0	(2,682)
Less: Common shares in treasury at cost: 221,684 and 898,267 shares at March 31, 2021 and December 31, 2020, respectively	(4,387)	(11,319)
Total SITE Centers shareholders' equity	2,168,132	1,941,508
Non-controlling interests	3,472	3,315
Total equity	2,171,604	1,944,823
Total liabilities and equity	4,175,380	4,108,284
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, 2021	Dec. 31, 2020
Common shares, par value	$ 0.10	$ 0.10
Common shares, shares authorized	300,000,000	300,000,000
Common shares, shares issued	211,035,935	193,995,499
Treasury at cost	221,684	898,267
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, 2021	Mar. 31, 2020
Revenues from operations:
Rental income	$ 119,890	$ 112,529
Fee and other income	8,249	16,781
Total revenue from operations	128,139	129,310
Rental operation expenses:
Operating and maintenance	20,216	18,480
Real estate taxes	19,664	17,657
Impairment charges	7,270	0
General and administrative	17,395	11,376
Depreciation and amortization	45,560	42,993
Total rental operation expenses	110,105	90,506
Other income (expense):
Interest expense	(19,395)	(20,587)
Other expense, net	(366)	(13,924)
Total other income (expense)	(19,761)	(34,511)
(Loss) income before earnings from equity method investments and other items	(1,727)	4,293
Equity in net income of joint ventures	4,385	2,171
Reserve of preferred equity interests, net	0	(18,057)
Gain on sale of joint venture interest	13,908	45,681
(Loss) gain on disposition of real estate, net	(20)	773
Income before tax expense	16,546	34,861
Tax expense of taxable REIT subsidiaries and state franchise and income taxes	(365)	(233)
Net income	16,181	34,628
Income attributable to non-controlling interests, net	(173)	(295)
Net income attributable to SITE Centers	16,008	34,333
Preferred dividends	(5,133)	(5,133)
Net income attributable to common shareholders	$ 10,875	$ 29,200
Per share data:
Basic	$ 0.05	$ 0.15
Diluted	$ 0.05	$ 0.15

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Statement Of Income And Comprehensive Income [Abstract]
Net income	$ 16,181	$ 34,628
Other comprehensive income:
Foreign currency translation, net	(1)	(785)
Reclassification adjustment for foreign currency translation included in net income	2,683	0
Change in cash flow hedges reclassed to earnings	0	1,172
Total other comprehensive income	2,682	387
Comprehensive income	18,863	35,015
Total comprehensive income attributable to non-controlling interests	(173)	(295)
Total comprehensive income attributable to SITE Centers	$ 18,690	$ 34,720

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, 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
Beginning Balance at Dec. 31, 2020	1,944,823	325,000	19,400	5,705,164	(4,099,534)	5,479	(2,682)	(11,319)	3,315
Issuance of common shares related to stock plans	37	0	6	31	0	0	0	0	0
Issuance of common shares for cash offering	225,529	0	1,696	219,910	0	0	0	3,923	0
Stock-based compensation, net	10,621	0	0	8,580	0	(968)	0	3,009	0
Distributions to non-controlling interests	(16)	0	0	0	0	0	0	0	(16)
Dividends declared-common shares	(23,303)	0	0	0	(23,303)	0	0	0	0
Dividends declared-preferred shares	(4,950)	0	0	0	(4,950)	0	0	0	0
Comprehensive income	18,863	0	0	0	16,008	0	2,682	0	173
Ending Balance at Mar. 31, 2021	$ 2,171,604	$ 325,000	$ 21,102	$ 5,933,685	$ (4,111,779)	$ 4,511	$ 0	$ (4,387)	$ 3,472

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Cash flow from operating activities:
Net income	$ 16,181	$ 34,628
Adjustments to reconcile net income to net cash flow provided by operating activities:
Depreciation and amortization	45,560	42,993
Stock-based compensation	7,694	18
Amortization and write-off of debt issuance costs and fair market value of debt adjustments	1,015	1,519
Loss on debt extinguishment	0	16,568
Equity in net income of joint ventures	(4,385)	(2,171)
Reserve of preferred equity interests, net	0	18,057
Operating cash distributions from joint ventures	794	2,121
Gain on sale of joint venture interest	(13,908)	(45,681)
Loss (gain) on disposition of real estate, net	20	(773)
Impairment charges	7,270	0
Assumption of buildings due to ground lease terminations	0	(3,025)
Change in notes receivable accrued interest	0	664
Net change in accounts receivable	13,641	4,177
Net change in accounts payable and accrued expenses	(13,048)	(19,292)
Net change in other operating assets and liabilities	(4,724)	(13,953)
Total adjustments	39,929	1,222
Net cash flow provided by operating activities	56,110	35,850
Cash flow from investing activities:
Real estate developed and improvements to operating real estate	(18,131)	(23,022)
Proceeds from disposition of real estate	11,279	1,060
Proceeds from sale of joint venture interest	16,067	140,519
Equity contributions to joint ventures	(92)	(86)
Distributions from joint ventures	1,416	3,168
Repayment of notes receivable	0	7,500
Net cash flow provided by investing activities	10,539	129,139
Cash flow from financing activities:
(Repayment of) proceeds from revolving credit facilities, net	(135,000)	640,000
Repayment of senior notes, including repayment costs	0	(216,568)
Repayment of mortgage debt	(18,563)	(40,436)
Proceeds from issuance of common shares, net of offering expenses	225,529	0
Repurchase of common shares in conjunction with equity award plans and dividend reinvestment plan	(4,476)	(948)
Repurchase of common shares	0	(7,500)
Distributions to non-controlling interests and redeemable operating partnership units	(7)	(278)
Dividends paid	(14,844)	(44,036)
Net cash flow provided by financing activities	52,639	330,234
Effect of foreign exchange rate changes on cash and cash equivalents	(1)	8
Net increase in cash, cash equivalents and restricted cash	119,288	495,223
Cash, cash equivalents and restricted cash, beginning of period	74,414	19,133
Cash, cash equivalents and restricted cash, end of period	$ 193,701	$ 514,364

Nature of Business and Financia

Nature of Business and Financial Statement Presentation	3 Months Ended
	Mar. 31, 2021
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, leasing 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. The Company considered impacts to its estimates related to COVID-19, as appropriate, within its unaudited condensed consolidated financial statements, and there may be changes to those estimates in future periods. The Company believes that its accounting estimates are appropriate after giving consideration to the uncertainties surrounding the severity and duration of the COVID-19 pandemic. 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, 2021 and 2020, 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, 2020 . 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). Reclassifications Certain amounts for the three months ended March 31, 2020, have been reclassified in order to conform with the current period’s presentation. The Company reclassified $3.5 million of interest income, primarily related to preferred equity investments that were transferred or redeemed in the fourth quarter of 2020, on its consolidated statement of operations from Interest Income to Other Expense, net. 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, 2021 2020 Dividends declared, but not paid $ 28.3 $ 44.0 Accounts payable related to construction in progress 5.7 7.7 Tax receivable 4.1 — Assumption of buildings due to ground lease terminations — 3.0

Revenue Recognition

Revenue Recognition	3 Months Ended
	Mar. 31, 2021
Revenue From Contract With Customer [Abstract]
Revenue Recognition	2. Revenue Recognition Impact of the COVID-19 Pandemic on Revenue and Receivables Beginning in March 2020, the retail sector within the continental U.S. has been significantly impacted by the COVID-19 pandemic. Though the impact of the COVID-19 pandemic on tenant operations has varied by tenant category, local conditions and applicable government mandates, a significant number of the Company’s tenants have experienced a reduction in sales and foot traffic, and many tenants were forced to limit their operations or close their businesses for a period of time. The COVID-19 pandemic had no impact on the Company’s collection of rents for the first quarter of 2020, but it had a significant impact on the collection of rents for April 2020 through March 31, 2021. The Company has engaged in discussions with most of its larger tenants that failed to satisfy all or a portion of their rent obligations during the 12 months ended March 31, 2021 and has agreed to terms on rent-deferral arrangements (and, in a small number of cases, rent abatements) and other lease modifications with a significant number of such tenants. The Company continues to evaluate its options with respect to tenants with which the Company has not reached satisfactory resolution of unpaid rents and has commenced collection actions against several tenants. For those tenants where the Company is unable to assert that collection of amounts due over the lease term is probable, regardless if the Company has entered into a deferral agreement to extend the payment terms, the Company has categorized these tenants on the cash basis of accounting. As a result, no rental income is recognized from such tenants once they have been placed on the cash basis of accounting until payments are received and all existing accounts receivable relating to these tenants have been reserved in full, including straight-line rental income. The Company will remove the cash basis designation and resume recording rental income from such tenants on a straight-line basis at such time it believes collection from the tenants is probable based upon a demonstrated payment history, improved liquidity, the addition of credit-worthy guarantors or a recapitalization event. The Company had net billed contractual tenant accounts receivable of $12.3 million at March 31, 2021. During the three months ended March 31, 2021, the Company recorded net uncollectible revenue that resulted in rental income of $1.4 million (the Company’s share of unconsolidated joint ventures was $0.3 million) primarily due to rental income paid in 2021 related to outstanding receivables in 2020 from tenants on the cash basis of accounting. The Company’s share of lease modification adjustments for unconsolidated joint ventures was not material. The aggregate amount of uncollectible revenue reported during the quarter primarily was due to the impact of the COVID-19 pandemic. 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, 2021 2020 Revenue from contracts: Asset and property management fees $ 6,575 $ 9,325 Leasing commissions 1,017 2,996 Development fees 113 870 Disposition fees — 1,556 Total revenue from contracts with customers 7,705 14,747 Other property income: Other 544 2,034 Total fee and other income $ 8,249 $ 16,781

Investments in and Advances to

Investments in and Advances to Joint Ventures	3 Months Ended
	Mar. 31, 2021
Equity Method Investments And Joint Ventures [Abstract]
Investments in and Advances to Joint Ventures	3. Investments in and Advances to Joint Ventures At both March 31, 2021 and December 31, 2020, the Company had ownership interests in various unconsolidated joint ventures that had investments in 59 shopping center properties. Condensed combined financial information of the Company’s unconsolidated joint venture investments is as follows (in thousands): March 31, 2021 December 31, 2020 Condensed Combined Balance Sheets Land $ 441,412 $ 441,412 Buildings 1,259,441 1,258,879 Fixtures and tenant improvements 143,736 137,663 1,844,589 1,837,954 Less: Accumulated depreciation (504,904 ) (492,288 ) 1,339,685 1,345,666 Construction in progress and land 2,506 58,201 Real estate, net 1,342,191 1,403,867 Cash and restricted cash 47,258 35,212 Receivables, net 20,336 25,719 Other assets, net 62,116 61,381 $ 1,471,901 $ 1,526,179 Mortgage debt $ 1,029,240 $ 1,029,579 Notes and accrued interest payable to the Company 4,707 4,375 Other liabilities 58,888 57,349 1,092,835 1,091,303 Accumulated equity 379,066 434,876 $ 1,471,901 $ 1,526,179 Company's share of accumulated equity $ 66,852 $ 72,555 Basis differentials 5,652 1,644 Deferred development fees, net of portion related to the Company's interest (1,229 ) (1,277 ) Amounts payable to the Company 4,707 4,375 Investments in and Advances to Joint Ventures, net $ 75,982 $ 77,297 Three Months Ended March 31, 2021 2020 Condensed Combined Statements of Operations Revenues from operations $ 50,560 $ 85,621 Expenses from operations: Operating expenses 14,417 24,415 Impairment charges — 31,720 Depreciation and amortization 17,117 30,104 Interest expense 10,947 17,755 Preferred share expense — 4,530 Other expense, net 2,964 4,657 45,445 113,181 Income (loss) before gain on disposition of real estate 5,115 (27,560 ) Gain on disposition of real estate, net 28,401 8,906 Net income (loss) attributable to unconsolidated joint ventures $ 33,516 $ (18,654 ) Company's share of equity in net income of joint ventures $ 4,323 $ 2,015 Basis differential adjustments (A) 62 156 Equity in net income of joint ventures $ 4,385 $ 2,171 (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, 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. The impact of the COVID-19 pandemic on revenues and receivables for the Company’s joint ventures is more fully described in Note 2. Revenues earned by the Company related to all of the Company’s unconsolidated joint ventures and interest income are as follows (in millions): Three Months Ended March 31, 2021 2020 Revenue from contracts: Asset and property management fees $ 2.6 $ 4.5 Development fees, leasing commissions and other 0.4 2.6 3.0 7.1 Other: Interest income (A) — 3.5 Other 0.4 0.7 0.4 4.2 $ 3.4 $ 11.3 (A) Interest income recorded in 2020 related to preferred equity interests of two joint ventures which were transferred or redeemed in the fourth quarter of 2020. Disposition of Undeveloped Land In February 2021, one of the Company’s unconsolidated joint ventures sold its sole asset, which was a parcel of undeveloped land (approximating 70 acres) in Richmond Hill, Ontario. The Company’s share of net proceeds totaled $22.1 million, after accounting for customary closing costs and foreign currency translation. The net proceeds include $6.1 million that are held in escrow of which $4.1 million is expected to be released to the Company pending receipt of certain tax clearance certificates from the Canadian taxing authorities, and the remaining $2.0 million is considered contingent and should be released upon final dissolution of the partnership. The Company recorded an aggregate gain on the transaction of $16.7 million which included its $2.8 million share of the gain reported by the joint venture, as well as $13.9 million related to the promoted interest on the disposition of the investment and write-off of the accumulated foreign currency translation.

Investment in and Advances to A

Investment in and Advances to Affiliate	3 Months Ended
	Mar. 31, 2021
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, 2021 2020 Revenue from contracts with RVI: Asset and property management fees $ 4.0 $ 4.8 Leasing commissions 0.8 1.2 Disposition fees — 1.6 Total revenue from contracts with RVI $ 4.8 $ 7.6

Other Assets and Intangibles, n

Other Assets and Intangibles, net	3 Months Ended
	Mar. 31, 2021
Other Assets [Abstract]
Other Assets and Intangibles, net	5 . Other Assets and Intangibles, net Other assets and intangibles consist of the following (in thousands): March 31, 2021 December 31, 2020 Intangible assets: In-place leases, net $ 52,576 $ 56,756 Above-market leases, net 7,791 8,387 Lease origination costs 4,650 4,974 Tenant relationships, net 19,063 20,301 Total intangible assets, net (A) 84,080 90,418 Operating lease ROU assets 20,047 20,604 Other assets: Prepaid expenses 14,252 7,416 Other assets 2,931 2,348 Deposits 4,003 3,767 Deferred charges, net 5,639 6,137 Total other assets, net $ 130,952 $ 130,690 Below-market leases, net (other liabilities) $ 55,748 $ 57,348 (A) The Company recorded amortization expense related to its intangibles, excluding above- and below-market leases, of $5.6 million and $3.8 million for the three months ended March 31, 2021 and 2020

Revolving Credit Facilities

Revolving Credit Facilities	3 Months Ended
	Mar. 31, 2021
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): Carrying Amount at March 31, 2021 Weighted-Average Interest Rate at March 31, 2021 Maturity Date at March 31, 2021 Unsecured Credit Facility $ — N/A 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 lenders agree to the existing terms of the facility or existing lenders increase their commitment level, and a maturity date of January 2024, with 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, 2021. The Company 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, 2021) or the Alternative Base Rate, as defined in the respective facility, plus a specified spread (0% at March 31, 2021). 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, 2021.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	7 . Fair Value Measurements The following methods and assumptions were used by the Company in estimating fair value disclosures of debt. The fair market value of senior notes is determined using a pricing model to approximate 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, 2021 December 31, 2020 Carrying Amount Fair Value Carrying Amount Fair Value Senior Notes $ 1,450,152 $ 1,555,838 $ 1,449,613 $ 1,549,866 Revolving Credit Facilities and term loan 99,679 100,000 234,635 235,000 Mortgage Indebtedness 230,632 231,916 249,260 250,624 $ 1,780,463 $ 1,887,754 $ 1,933,508 $ 2,035,490

Equity

Equity	3 Months Ended
	Mar. 31, 2021
Equity [Abstract]
Equity	8. Equity In March 2021, the Company issued 17.25 million common shares resulting in net proceeds of $225.5 million. The Company declared common share dividends of $0.11 per share and $0.20 per share for the three months ended March 31, 2021 and 2020, respectively.

Other Comprehensive Income

Other Comprehensive Income	3 Months Ended
	Mar. 31, 2021
Equity [Abstract]
Other Comprehensive Income	9 . Other Comprehensive Income The changes in Accumulated Other Comprehensive (Loss) Income by component are as follows (in thousands): Foreign Currency Items Balance, December 31, 2020 $ (2,682 ) Other comprehensive loss before reclassifications (1 ) Reclassification adjustment for foreign currency translation (A) 2,683 Net current-period other comprehensive income 2,682 Balance, March 31, 2021 $ — (A) Represents the release of foreign currency translation related to the sale of a parcel of undeveloped land in Richmond Hill, Ontario owned by one of the Company’s joint ventures (Note 3).

Impairment Charges

Impairment Charges	3 Months Ended
	Mar. 31, 2021
Asset Impairment Charges [Abstract]
Impairment Charges	10 . Impairment Charges For the three months ended March 31, 2021 and 2020, the Company recorded impairment charges and reserves of $7.3 million and $18.1 million, respectively, based on the difference between the carrying value of the assets or investments and the estimated fair market value. In 2021, the impairment charge recorded was triggered by a change in the hold period assumptions for an asset considered for sale and in 2020 the impairments were as a result of an aggregate valuation allowance on its preferred equity interests in the BRE DDR Joint Ventures that were transferred or redeemed in the fourth quarter of 2020. Items Measured at Fair Value 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. 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 impairment charges on financial assets that were measured on a fair value basis for the three months ended March 31, 2021. 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, 2021 Long-lived assets held and used $ — $ — $ 10.0 $ 10.0 $ 7.3 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 Valuation Weighted Description March 31, 2021 Technique Unobservable Inputs Range Average Impairment of consolidated assets $ 10.0 Indicative Bid (A) Indicative Bid (A) N/A N/A (A) Fair value measurement based upon an indicative bid and 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 third parties to determine these estimated fair values.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2021
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, 2021 2020 Numerators – Basic and Diluted Net income $ 16,181 $ 34,628 Income attributable to non-controlling interests (173 ) (295 ) Preferred dividends (5,133 ) (5,133 ) Earnings attributable to unvested shares and OP units (115 ) (149 ) Net income attributable to common shareholders after allocation to participating securities $ 10,760 $ 29,051 Denominators – Number of Shares Basic — 198,534 193,726 Assumed conversion of dilutive securities 911 — Diluted — 199,445 193,726 Earnings Per Share: Basic $ 0.05 $ 0.15 Diluted $ 0.05 $ 0.15 For the three months ended March 31, 2021, Performance Restricted Stock Units (“PRSUs”) issued to certain executives in March 2021, March 2020 and March 2019 were considered in the computation of dilutive EPS. For the three months ended March 31, 2020, the PRSUs issued in March 2020, March 2019 and March 2018 were anti-dilutive, and therefore, not considered in the computation of diluted EPS. For the three months ended March 31, 2021 and 2020, the Company recorded a mark-to-market adjustment of $5.6 million as expense and $2.2 million as income, respectively, in connection with the PRSUs granted in March 2018. In March 2021, the Company issued 570,295 common shares in settlement of certain PRSUs granted in 2018 and 2020.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2021
Subsequent Events [Abstract]
Subsequent Events	1 2 . Subsequent Events In April 2021, the Company redeemed all $150.0 million aggregate liquidation preference of its 6.250% Class K Cumulative Redeemable Preferred Shares (the “Class K Preferred Shares”) at a redemption price of $500 per Class K Preferred Share (or $25.00 per depositary share) plus accrued and unpaid dividends of $7.2049 per Class K Preferred Share (or $0.3602 per depositary share). The Company will record a non-cash charge of $5.1 million to net income attributable to common shareholders in the second quarter of 2021, which represents the difference between the redemption price and the carrying amount immediately prior to redemption, which was recorded to additional paid in capital upon original issuance.

Nature of Business and Financ_2

Nature of Business and Financial Statement Presentation (Policies)	3 Months Ended
	Mar. 31, 2021
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, leasing 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. The Company considered impacts to its estimates related to COVID-19, as appropriate, within its unaudited condensed consolidated financial statements, and there may be changes to those estimates in future periods. The Company believes that its accounting estimates are appropriate after giving consideration to the uncertainties surrounding the severity and duration of the COVID-19 pandemic.
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, 2021 and 2020, 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, 2020 .
Principles of Consolidation	Principles of Consolidation
Reclassifications	Reclassifications
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, 2021 2020 Dividends declared, but not paid $ 28.3 $ 44.0 Accounts payable related to construction in progress 5.7 7.7 Tax receivable 4.1 — Assumption of buildings due to ground lease terminations — 3.0

Nature of Business and Financ_3

Nature of Business and Financial Statement Presentation (Tables)	3 Months Ended
	Mar. 31, 2021
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, 2021 2020 Dividends declared, but not paid $ 28.3 $ 44.0 Accounts payable related to construction in progress 5.7 7.7 Tax receivable 4.1 — Assumption of buildings due to ground lease terminations — 3.0

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	Mar. 31, 2021
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, 2021 2020 Revenue from contracts: Asset and property management fees $ 6,575 $ 9,325 Leasing commissions 1,017 2,996 Development fees 113 870 Disposition fees — 1,556 Total revenue from contracts with customers 7,705 14,747 Other property income: Other 544 2,034 Total fee and other income $ 8,249 $ 16,781

Investments in and Advances t_2

Investments in and Advances to Joint Ventures (Tables) - Unconsolidated Joint Ventures [Member]	3 Months Ended
	Mar. 31, 2021
Schedule Of Equity Method Investments [Line Items]
Condensed Combined Financial Information of Company's Unconsolidated Joint Venture Investments	At both March 31, 2021 and December 31, 2020, the Company had ownership interests in various unconsolidated joint ventures that had investments in 59 shopping center properties. Condensed combined financial information of the Company’s unconsolidated joint venture investments is as follows (in thousands): March 31, 2021 December 31, 2020 Condensed Combined Balance Sheets Land $ 441,412 $ 441,412 Buildings 1,259,441 1,258,879 Fixtures and tenant improvements 143,736 137,663 1,844,589 1,837,954 Less: Accumulated depreciation (504,904 ) (492,288 ) 1,339,685 1,345,666 Construction in progress and land 2,506 58,201 Real estate, net 1,342,191 1,403,867 Cash and restricted cash 47,258 35,212 Receivables, net 20,336 25,719 Other assets, net 62,116 61,381 $ 1,471,901 $ 1,526,179 Mortgage debt $ 1,029,240 $ 1,029,579 Notes and accrued interest payable to the Company 4,707 4,375 Other liabilities 58,888 57,349 1,092,835 1,091,303 Accumulated equity 379,066 434,876 $ 1,471,901 $ 1,526,179 Company's share of accumulated equity $ 66,852 $ 72,555 Basis differentials 5,652 1,644 Deferred development fees, net of portion related to the Company's interest (1,229 ) (1,277 ) Amounts payable to the Company 4,707 4,375 Investments in and Advances to Joint Ventures, net $ 75,982 $ 77,297
Condensed Combined Statements of Operations of Unconsolidated Joint Venture Investments	Three Months Ended March 31, 2021 2020 Condensed Combined Statements of Operations Revenues from operations $ 50,560 $ 85,621 Expenses from operations: Operating expenses 14,417 24,415 Impairment charges — 31,720 Depreciation and amortization 17,117 30,104 Interest expense 10,947 17,755 Preferred share expense — 4,530 Other expense, net 2,964 4,657 45,445 113,181 Income (loss) before gain on disposition of real estate 5,115 (27,560 ) Gain on disposition of real estate, net 28,401 8,906 Net income (loss) attributable to unconsolidated joint ventures $ 33,516 $ (18,654 ) Company's share of equity in net income of joint ventures $ 4,323 $ 2,015 Basis differential adjustments (A) 62 156 Equity in net income of joint ventures $ 4,385 $ 2,171 (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, 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 are as follows (in millions): Three Months Ended March 31, 2021 2020 Revenue from contracts: Asset and property management fees $ 2.6 $ 4.5 Development fees, leasing commissions and other 0.4 2.6 3.0 7.1 Other: Interest income (A) — 3.5 Other 0.4 0.7 0.4 4.2 $ 3.4 $ 11.3 (A) Interest income recorded in 2020 related to preferred equity interests of two joint ventures which were transferred or redeemed in the fourth quarter of 2020.

Investment in and Advances to_2

Investment in and Advances to Affiliate (Tables)	3 Months Ended
	Mar. 31, 2021
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, 2021 2020 Revenue from contracts with RVI: Asset and property management fees $ 4.0 $ 4.8 Leasing commissions 0.8 1.2 Disposition fees — 1.6 Total revenue from contracts with RVI $ 4.8 $ 7.6

Other Assets and Intangibles,_2

Other Assets and Intangibles, net (Tables)	3 Months Ended
	Mar. 31, 2021
Other Assets [Abstract]
Components of Other Assets and Intangibles	Other assets and intangibles consist of the following (in thousands): March 31, 2021 December 31, 2020 Intangible assets: In-place leases, net $ 52,576 $ 56,756 Above-market leases, net 7,791 8,387 Lease origination costs 4,650 4,974 Tenant relationships, net 19,063 20,301 Total intangible assets, net (A) 84,080 90,418 Operating lease ROU assets 20,047 20,604 Other assets: Prepaid expenses 14,252 7,416 Other assets 2,931 2,348 Deposits 4,003 3,767 Deferred charges, net 5,639 6,137 Total other assets, net $ 130,952 $ 130,690 Below-market leases, net (other liabilities) $ 55,748 $ 57,348 (A) The Company recorded amortization expense related to its intangibles, excluding above- and below-market leases, of $5.6 million and $3.8 million for the three months ended March 31, 2021 and 2020

Revolving Credit Facilities (Ta

Revolving Credit Facilities (Tables)	3 Months Ended
	Mar. 31, 2021
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): Carrying Amount at March 31, 2021 Weighted-Average Interest Rate at March 31, 2021 Maturity Date at March 31, 2021 Unsecured Credit Facility $ — N/A January 2024 PNC Facility — N/A January 2024

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2021
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, 2021 December 31, 2020 Carrying Amount Fair Value Carrying Amount Fair Value Senior Notes $ 1,450,152 $ 1,555,838 $ 1,449,613 $ 1,549,866 Revolving Credit Facilities and term loan 99,679 100,000 234,635 235,000 Mortgage Indebtedness 230,632 231,916 249,260 250,624 $ 1,780,463 $ 1,887,754 $ 1,933,508 $ 2,035,490

Other Comprehensive Income (Tab

Other Comprehensive Income (Tables)	3 Months Ended
	Mar. 31, 2021
Equity [Abstract]
Changes in Accumulated Other Comprehensive (Loss) Income by Component	The changes in Accumulated Other Comprehensive (Loss) Income by component are as follows (in thousands): Foreign Currency Items Balance, December 31, 2020 $ (2,682 ) Other comprehensive loss before reclassifications (1 ) Reclassification adjustment for foreign currency translation (A) 2,683 Net current-period other comprehensive income 2,682 Balance, March 31, 2021 $ — (A) Represents the release of foreign currency translation related to the sale of a parcel of undeveloped land in Richmond Hill, Ontario owned by one of the Company’s joint ventures (Note 3).

Impairment Charges (Tables)

Impairment Charges (Tables)	3 Months Ended
	Mar. 31, 2021
Asset Impairment Charges [Abstract]
Impairment Charges Measured at Fair Value on Non-Recurring Basis	The following table presents information about the Company’s impairment charges on financial assets that were measured on a fair value basis for the three months ended March 31, 2021. 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, 2021 Long-lived assets held and used $ — $ — $ 10.0 $ 10.0 $ 7.3
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 Valuation Weighted Description March 31, 2021 Technique Unobservable Inputs Range Average Impairment of consolidated assets $ 10.0 Indicative Bid (A) Indicative Bid (A) N/A N/A (A) Fair value measurement based upon an indicative bid and 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 third parties to determine these estimated fair values.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2021
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, 2021 2020 Numerators – Basic and Diluted Net income $ 16,181 $ 34,628 Income attributable to non-controlling interests (173 ) (295 ) Preferred dividends (5,133 ) (5,133 ) Earnings attributable to unvested shares and OP units (115 ) (149 ) Net income attributable to common shareholders after allocation to participating securities $ 10,760 $ 29,051 Denominators – Number of Shares Basic — 198,534 193,726 Assumed conversion of dilutive securities 911 — Diluted — 199,445 193,726 Earnings Per Share: Basic $ 0.05 $ 0.15 Diluted $ 0.05 $ 0.15

Nature of Business and Financ_4

Nature of Business and Financial Statement Presentation - Additional Information (Detail) $ in Millions	3 Months Ended
	Mar. 31, 2020USD ($)
Other Expense [Member]
Nature Of Business And Financial Statement Presentation [Line Items]
Reclassification adjustments	$ 3.5

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, 2021	Mar. 31, 2020	Dec. 31, 2020
Other Significant Noncash Transactions [Line Items]
Dividends declared, but not paid	$ 28,263	$ 44,000	$ 14,844
Accounts payable related to construction in progress	5,700	7,700
Tax receivable	4,100	0
Building [Member]
Other Significant Noncash Transactions [Line Items]
Assumption of buildings due to ground lease terminations	$ 0	$ 3,000

Revenue Recognition - Additiona

Revenue Recognition - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Revenue Initial Application Period Cumulative Effect Transition [Line Items]
Accounts receivable, net	$ 63,760	$ 73,517
COVID-19
Revenue Initial Application Period Cumulative Effect Transition [Line Items]
Rental income	1,400
Share of unconsolidated joint ventures in rental income	300
COVID-19 | Billed Contractual Tenants Accounts Receivable [Member]
Revenue Initial Application Period Cumulative Effect Transition [Line Items]
Accounts receivable, net	$ 12,300

Revenue Recognition - Schedule

Revenue Recognition - Schedule of Fee and Other Income (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Disaggregation Of Revenue [Line Items]
Total revenue from contracts with customers	$ 7,705	$ 14,747
Other property income:
Other	544	2,034
Total fee and other income	8,249	16,781
Asset and Property Management Fees [Member]
Disaggregation Of Revenue [Line Items]
Total revenue from contracts with customers	6,575	9,325
Leasing Commissions [Member]
Disaggregation Of Revenue [Line Items]
Total revenue from contracts with customers	1,017	2,996
Development Fees [Member]
Disaggregation Of Revenue [Line Items]
Total revenue from contracts with customers	113	870
Disposition Fees [Member]
Disaggregation Of Revenue [Line Items]
Total revenue from contracts with customers	$ 0	$ 1,556

Investments in and Advances t_3

Investments in and Advances to Joint Ventures - Additional Information (Detail) $ in Thousands	Feb. 27, 2021USD ($)a	Mar. 31, 2021USD ($)ShoppingCenter	Mar. 31, 2020USD ($)	Dec. 31, 2020ShoppingCenter
Schedule Of Equity Method Investments [Line Items]
Gain on sale of joint venture interest		$ 13,908	$ 45,681
Undeveloped Land [Member] | Richmond Hill, Ontario [Member]
Schedule Of Equity Method Investments [Line Items]
Area of land sold | a	70
Net proceeds after closing costs and foreign currency translation	$ 22,100
Amounts held in escrow	6,100
Aggregate gain on transaction	16,700
Gain reported by the joint venture	2,800
Gain on sale of joint venture interest	13,900
Undeveloped Land [Member] | Richmond Hill, Ontario [Member] | Amount of Funds in Escrow to be Received from Canadian Taxing Authority Pending Receipt of Certain Tax Certificates [Member]
Schedule Of Equity Method Investments [Line Items]
Amounts held in escrow	4,100
Undeveloped Land [Member] | Richmond Hill, Ontario [Member] | Amount of Funds in Escrow to be Released Upon Final Dissolution of Partnership [Member]
Schedule Of Equity Method Investments [Line Items]
Amounts held in escrow	$ 2,000
Unconsolidated Joint Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Shopping centers owned | ShoppingCenter		59		59

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, 2021	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2019
Condensed Combined Balance Sheets
Land	$ 947,411	$ 953,556
Buildings	3,479,583	3,488,499
Fixtures and tenant improvements	519,550	509,866
Total real estate rental property	4,946,544	4,951,921
Less: Accumulated depreciation	(1,463,598)	(1,427,057)
Real estate rental property, net	3,482,946	3,524,864
Construction in progress and land	38,004	37,467
Total real estate assets, net	3,520,950	3,562,331
Other assets, net	130,952	130,690
Total assets	4,175,380	4,108,284
Mortgage debt	230,632	249,260
Total liabilities	2,003,776	2,163,461
Accumulated equity	2,171,604	1,944,823	$ 1,967,478	$ 1,981,478
Total liabilities and equity	4,175,380	4,108,284
Company's share of accumulated equity	66,852	72,555
Basis differentials	5,652	1,644
Deferred development fees, net of portion related to the Company's interest	(1,229)	(1,277)
Amounts payable to the Company	4,707	4,375
Investments in and Advances to Joint Ventures, net	75,982	77,297
Unconsolidated Joint Ventures [Member]
Condensed Combined Balance Sheets
Land	441,412	441,412
Buildings	1,259,441	1,258,879
Fixtures and tenant improvements	143,736	137,663
Total real estate rental property	1,844,589	1,837,954
Less: Accumulated depreciation	(504,904)	(492,288)
Real estate rental property, net	1,339,685	1,345,666
Construction in progress and land	2,506	58,201
Total real estate assets, net	1,342,191	1,403,867
Cash and restricted cash	47,258	35,212
Receivables, net	20,336	25,719
Other assets, net	62,116	61,381
Total assets	1,471,901	1,526,179
Mortgage debt	1,029,240	1,029,579
Notes and accrued interest payable to the Company	4,707	4,375
Other liabilities	58,888	57,349
Total liabilities	1,092,835	1,091,303
Accumulated equity	379,066	434,876
Total liabilities and equity	$ 1,471,901	$ 1,526,179

Investments in and Advances t_5

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, 2021	Mar. 31, 2020
Condensed Combined Statements of Operations
Revenues from operations	$ 128,139	$ 129,310
Expenses from operations:
Operating expenses	110,105	90,506
Impairment charges	7,270	0
Depreciation and amortization	45,560	42,993
Interest expense	19,395	20,587
Other expense, net	366	13,924
Net income	16,181	34,628
Equity in net income of joint ventures	4,385	2,171
Unconsolidated Joint Ventures [Member]
Condensed Combined Statements of Operations
Revenues from operations	50,560	85,621
Expenses from operations:
Operating expenses	14,417	24,415
Impairment charges	0	31,720
Depreciation and amortization	17,117	30,104
Interest expense	10,947	17,755
Preferred share expense	0	4,530
Other expense, net	2,964	4,657
Total expenses	45,445	113,181
Income (loss) before gain on disposition of real estate	5,115	(27,560)
Gain on disposition of real estate, net	28,401	8,906
Net income	33,516	(18,654)
Company's share of equity in net income of joint ventures	4,323	2,015
Basis differential adjustments	62	156
Equity in net income of joint ventures	$ 4,385	$ 2,171

Investments in and Advances t_6

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, 2021	Mar. 31, 2020
Revenue from contracts:
Total revenue from contracts with customers	$ 7,705	$ 14,747
Other:
Interest income	0	3,500
Other	400	700
Other, Total	400	4,200
Revenue and other income	3,400	11,300
Asset and Property Management Fees [Member]
Revenue from contracts:
Total revenue from contracts with customers	6,575	9,325
Unconsolidated Joint Ventures [Member]
Revenue from contracts:
Total revenue from contracts with customers	3,000	7,100
Unconsolidated Joint Ventures [Member] | Asset and Property Management Fees [Member]
Revenue from contracts:
Total revenue from contracts with customers	2,600	4,500
Unconsolidated Joint Ventures [Member] | Development Fees, Leasing Commissions and Other [Member]
Revenue from contracts:
Total revenue from contracts with customers	$ 400	$ 2,600

Investment in and Advances to_3

Investment in and Advances to Affiliate - Additional Information (Detail) $ in Millions	Mar. 31, 2021USD ($)
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, 2021	Mar. 31, 2020
Disaggregation Of Revenue [Line Items]
Total revenue from contracts with RVI	$ 7,705	$ 14,747
Retail Value Inc. [Member]
Disaggregation Of Revenue [Line Items]
Total revenue from contracts with RVI	4,800	7,600
Asset and Property Management Fees [Member]
Disaggregation Of Revenue [Line Items]
Total revenue from contracts with RVI	6,575	9,325
Asset and Property Management Fees [Member] | Retail Value Inc. [Member]
Disaggregation Of Revenue [Line Items]
Total revenue from contracts with RVI	4,000	4,800
Leasing Commissions [Member]
Disaggregation Of Revenue [Line Items]
Total revenue from contracts with RVI	1,017	2,996
Leasing Commissions [Member] | Retail Value Inc. [Member]
Disaggregation Of Revenue [Line Items]
Total revenue from contracts with RVI	800	1,200
Disposition Fees [Member]
Disaggregation Of Revenue [Line Items]
Total revenue from contracts with RVI	0	1,556
Disposition Fees [Member] | Retail Value Inc. [Member]
Disaggregation Of Revenue [Line Items]
Total revenue from contracts with RVI	$ 0	$ 1,600

Other Assets and Intangibles,_3

Other Assets and Intangibles, net - Components of Other Assets and Intangibles (Detail) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Intangible assets:
Total intangible assets, net	$ 84,080	$ 90,418
Operating lease ROU assets	20,047	20,604
Other assets:
Prepaid expenses	14,252	7,416
Other assets	2,931	2,348
Deposits	4,003	3,767
Deferred charges, net	5,639	6,137
Total other assets, net	130,952	130,690
Below-market leases, net (other liabilities)	55,748	57,348
In-Place Leases, Net [Member]
Intangible assets:
Total intangible assets, net	52,576	56,756
Above-Market Leases, Net [Member]
Intangible assets:
Total intangible assets, net	7,791	8,387
Lease Origination Costs [Member]
Intangible assets:
Total intangible assets, net	4,650	4,974
Tenant Relationships, Net [Member]
Intangible assets:
Total intangible assets, net	$ 19,063	$ 20,301

Other Assets and Intangibles,_4

Other Assets and Intangibles, net - Components of Other Assets and Intangibles (Parenthetical) (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Intangible Assets Net Excluding Goodwill [Abstract]
Amortization expense	$ 5.6	$ 3.8

Revolving Credit Facilities - I

Revolving Credit Facilities - Information Regarding Company's Revolving Credit Facilities (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Carrying Amount	$ 0	$ 135,000
Revolving Credit Facility [Member] | Unsecured Debt [Member] | Citizens Bank, N.A. , RBC Capital Markets and U.S. Bank National AssociationJ.P. , Morgan Chase Bank, N.A. and Wells Fargo Securities, LLC [Member]
Debt Instrument [Line Items]
Carrying Amount	$ 0
Weighted-Average Interest Rate
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
Weighted-Average Interest Rate
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, 2021USD ($)
Debt Instrument [Line Items]
Covenant compliance	The Company was in compliance with these financial covenants at March 31, 2021.
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, with 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

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Carrying Values Different from Estimated Fair Values (Detail) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior Notes	$ 1,450,152	$ 1,449,613
Revolving Credit Facilities and term loan	99,679	234,635
Mortgage Indebtedness	230,632	249,260
Total indebtedness	1,780,463	1,933,508
Fair Value [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior Notes	1,555,838	1,549,866
Revolving Credit Facilities and term loan	100,000	235,000
Mortgage Indebtedness	231,916	250,624
Total indebtedness	$ 1,887,754	$ 2,035,490

Equity Additional Information (

Equity Additional Information (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Equity [Abstract]
Common shares, issued	17,250
Proceeds from issuance of common shares, net of offering expenses	$ 225,529	$ 0
Common Stock, Dividends, Per Share, Declared	$ 0.11	$ 0.20

Other Comprehensive Income - Ch

Other Comprehensive Income - Changes in Accumulated Other Comprehensive (Loss) Income by Component (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance	$ 1,944,823	$ 1,981,478
Reclassification adjustment for foreign currency translation included in net income	2,683	0
Ending Balance	2,171,604	$ 1,967,478
Foreign Currency Items [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance	(2,682)
Other comprehensive loss before reclassifications	(1)
Reclassification adjustment for foreign currency translation included in net income	2,683
Net current-period other comprehensive income	2,682
Ending Balance	$ 0

Impairment Charges - Additional

Impairment Charges - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Asset Impairment Charges [Abstract]
Total impairment charges	$ 7.3	$ 18.1

Impairment Charges - Impairment

Impairment Charges - Impairment Charges Measured at Fair Value on Non-Recurring Basis (Detail) - Fair Value Measurements [Member] $ in Millions	3 Months Ended
	Mar. 31, 2021USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-lived assets held and used	$ 10
Long-lived assets held and used, Total Impairment Charges	7.3
Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-lived assets held and used	0
Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-lived assets held and used	0
Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-lived assets held and used	$ 10

Impairment Charges - Summary of

Impairment Charges - Summary of Significant Unobservable Inputs (Detail) - Fair Value Measurements [Member] $ in Millions	Mar. 31, 2021USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Consolidated Assets, Fair Value	$ 10
Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Consolidated Assets, Fair Value	10
Impairment of Consolidated Assets [Member] | Level 3 [Member] | Indicative Bid [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Consolidated Assets, Fair Value	$ 10

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, 2021	Mar. 31, 2020
Earnings Per Share [Abstract]
Net income	$ 16,181	$ 34,628
Income attributable to non-controlling interests	(173)	(295)
Preferred dividends	(5,133)	(5,133)
Earnings attributable to unvested shares and OP units	(115)	(149)
Net income attributable to common shareholders after allocation to participating securities	$ 10,760	$ 29,051
Denominators – Number of Shares
Basic—Average shares outstanding	198,534	193,726
Assumed conversion of dilutive securities	911	0
Diluted—Average shares outstanding	199,445	193,726
Earnings Per Share:
Basic	$ 0.05	$ 0.15
Diluted	$ 0.05	$ 0.15

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Common shares, shares issued	211,035,935		193,995,499
Performance Restricted Stock Units [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Mark-to-market adjustment	$ (5.6)	$ 2.2
Common shares, shares issued	570,295

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) - Class K Cumulative Redeemable Preferred Shares [Member] - USD ($) $ / shares in Units, $ in Millions	1 Months Ended	3 Months Ended
	Apr. 30, 2021	Jun. 30, 2021
Forecast [Member]
Subsequent Event [Line Items]
Preferred stock redemption premium		$ 5.1
Subsequent Event [Member]
Subsequent Event [Line Items]
Preferred stock, liquidation preference, value	$ 150
Preferred stock dividend rate	6.25%
Cumulative redeemable preferred shares, liquidation value	$ 500
Per share price of depositary share	25
Redeemable preferred stock dividend per share prorated to redemption date	7.2049
Redeemable preferred stock dividend per depositary share prorated to redemption date	$ 0.3602