Document and Entity Information
Document and Entity Information - USD ($) $ in Billions | 12 Months Ended | ||
Dec. 31, 2023 | Feb. 15, 2024 | Jun. 30, 2023 | |
Document Information [Line Items] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Dec. 31, 2023 | ||
Document Fiscal Year Focus | 2023 | ||
Document Fiscal Period Focus | FY | ||
Entity Registrant Name | REGENCY CENTERS CORPORATION | ||
Entity Central Index Key | 0000910606 | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Interactive Data Current | Yes | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Public Float | $ 10.5 | ||
Entity Common Stock, Shares Outstanding | 184,578,554 | ||
Entity Shell Company | false | ||
Entity Small Business | false | ||
ICFR Auditor Attestation Flag | true | ||
Entity Emerging Growth Company | false | ||
Entity File Number | 1-12298 | ||
Entity Incorporation, State or Country Code | FL | ||
Entity Tax Identification Number | 59-3191743 | ||
Entity Address, Address Line One | One Independent Drive | ||
Entity Address, Address Line Two | Suite 114 | ||
Entity Address, City or Town | Jacksonville | ||
Entity Address, State or Province | FL | ||
Entity Address, Postal Zip Code | 32202 | ||
City Area Code | 904 | ||
Local Phone Number | 598-7000 | ||
Document Annual Report | true | ||
Document Transition Report | false | ||
Documents Incorporated by Reference | Portions of Regency Centers Corporation's proxy statement, prepared in connection with its upcomin g 2024 Annual Meeting of Shareholders, are incorporated by reference in Part III of this Annual Report on Form 10-K to the extent described therein. 1 Per SEC guidance, this blank checkbox is included on this cover page but no disclosure with respect thereto shall be made until the adoption and effectiveness of related stock exchange listing standards. | ||
Document Financial Statement Error Correction | false | ||
Auditor Firm ID | 185 | ||
Auditor Name | KPMG LLP | ||
Auditor Location | Jacksonville, Florida | ||
Common Stock [Member] | |||
Document Information [Line Items] | |||
Title of 12(b) Security | Common Stock, $0.01 par value | ||
Trading Symbol | REG | ||
Security Exchange Name | NASDAQ | ||
6.250% Series A Cumulative Redeemable Preferred Stock [Member] | |||
Document Information [Line Items] | |||
Title of 12(b) Security | 6.250% Series A Cumulative Redeemable Preferred Stock, par value $0.01 per share | ||
Trading Symbol | REGCP | ||
Security Exchange Name | NASDAQ | ||
5.875% Series B Cumulative Redeemable Preferred Stock [Member] | |||
Document Information [Line Items] | |||
Title of 12(b) Security | 5.875% Series B Cumulative Redeemable Preferred Stock, par value $0.01 per share | ||
Trading Symbol | REGCO | ||
Security Exchange Name | NASDAQ | ||
Partnership Interest [Member] | |||
Document Information [Line Items] | |||
Entity Registrant Name | REGENCY CENTERS, L.P. | ||
Entity Central Index Key | 0001066247 | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Shell Company | false | ||
Entity Small Business | false | ||
ICFR Auditor Attestation Flag | true | ||
Entity Emerging Growth Company | false | ||
Entity File Number | 0-24763 | ||
Entity Incorporation, State or Country Code | DE | ||
Entity Tax Identification Number | 59-3429602 | ||
Entity Address, Address Line One | One Independent Drive | ||
Entity Address, Address Line Two | Suite 114 | ||
Entity Address, City or Town | Jacksonville | ||
Entity Address, State or Province | FL | ||
Entity Address, Postal Zip Code | 32202 | ||
City Area Code | 904 | ||
Local Phone Number | 598-7000 | ||
Document Annual Report | true | ||
Document Transition Report | false | ||
Document Financial Statement Error Correction | false | ||
Auditor Firm ID | 185 | ||
Auditor Name | KPMG LLP | ||
Auditor Location | Jacksonville, Florida |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Net real estate investments: | ||
Real estate assets, at cost (note 1) | $ 13,454,391 | $ 11,858,064 |
Less: accumulated depreciation | 2,691,386 | 2,415,860 |
Real estate assets, net | 10,763,005 | 9,442,204 |
Investments in sales-type lease, net | 8,705 | |
Investments in real estate partnerships (note 4) | 370,605 | 350,377 |
Net real estate investments | 11,142,315 | 9,792,581 |
Properties held for sale | 18,878 | |
Cash, cash equivalents, and restricted cash, including $6,383 and $2,310 of restricted cash at December 31, 2023 and 2022, respectively (note 1) | 91,354 | 68,776 |
Tenant and other receivables (note 1) | 206,162 | 188,863 |
Deferred leasing costs, less accumulated amortization of $124,107 and $117,137 at December 31, 2023 and 2022, respectively | 73,398 | 68,945 |
Acquired lease intangible assets, less accumulated amortization of $364,413 and $338,053 at December 31, 2023 and 2022, respectively (note 6) | 283,375 | 197,745 |
Right of use assets, net | 328,002 | 275,513 |
Other assets (note 5) | 283,429 | 267,797 |
Total assets | 12,426,913 | 10,860,220 |
Liabilities: | ||
Notes payable, net (note 9) | 4,001,949 | 3,726,754 |
Unsecured credit facility (note 9) | 152,000 | |
Accounts payable and other liabilities | 358,612 | 317,259 |
Acquired lease intangible liabilities, less accumulated amortization of $211,067 and $193,315 at December 31, 2023 and 2022, respectively (note 6) | 398,302 | 354,204 |
Lease liabilities | 246,063 | 213,722 |
Tenants’ security, escrow deposits and prepaid rent | 78,052 | 70,242 |
Total liabilities | 5,234,978 | 4,682,181 |
Stockholders' equity/Partners' capital: | ||
Preferred stock $0.01 par value per share, 30,000,000 shares authorized; 9,000,000 shares issued, in the aggregate, in Series A and Series B at December 31, 2023 with liquidation preferences of $25 per share and no shares authorized or issued at December 31, 2022 | 225,000 | |
Common stock $0.01 par value per share, 220,000,000 shares authorized; 184,581,070 and 171,124,593 shares issued at December 31, 2023 and 2022, respectively | 1,846 | 1,711 |
Treasury stock at cost, 448,140 and 465,415 shares held at December 31, 2023 and 2022, respectively | (25,488) | (24,461) |
Additional paid-in-capital | 8,704,240 | 7,877,152 |
Accumulated other comprehensive (loss) income | (1,308) | 7,560 |
Distributions in excess of net income | (1,871,603) | (1,764,977) |
Total shareholders' equity | 7,032,687 | 6,096,985 |
Noncontrolling interests (note 12): | ||
Exchangeable operating partnership units, aggregate redemption value of $74,199 and $46,340 at December 31, 2023 and 2022, respectively | 42,195 | 34,489 |
Limited partners' interests in consolidated partnerships (note 1) | 117,053 | 46,565 |
Total noncontrolling interests | 159,248 | 81,054 |
Total equity | 7,191,935 | 6,178,039 |
Total liabilities and equity | 12,426,913 | 10,860,220 |
Partnership Interest [Member] | ||
Net real estate investments: | ||
Real estate assets, at cost (note 1) | 13,454,391 | 11,858,064 |
Less: accumulated depreciation | 2,691,386 | 2,415,860 |
Real estate assets, net | 10,763,005 | 9,442,204 |
Investments in sales-type lease, net | 8,705 | |
Investments in real estate partnerships (note 4) | 370,605 | 350,377 |
Net real estate investments | 11,142,315 | 9,792,581 |
Properties held for sale | 18,878 | |
Cash, cash equivalents, and restricted cash, including $6,383 and $2,310 of restricted cash at December 31, 2023 and 2022, respectively (note 1) | 91,354 | 68,776 |
Tenant and other receivables (note 1) | 206,162 | 188,863 |
Deferred leasing costs, less accumulated amortization of $124,107 and $117,137 at December 31, 2023 and 2022, respectively | 73,398 | 68,945 |
Acquired lease intangible assets, less accumulated amortization of $364,413 and $338,053 at December 31, 2023 and 2022, respectively (note 6) | 283,375 | 197,745 |
Right of use assets, net | 328,002 | 275,513 |
Other assets (note 5) | 283,429 | 267,797 |
Total assets | 12,426,913 | 10,860,220 |
Liabilities: | ||
Notes payable, net (note 9) | 4,001,949 | 3,726,754 |
Unsecured credit facility (note 9) | 152,000 | |
Accounts payable and other liabilities | 358,612 | 317,259 |
Acquired lease intangible liabilities, less accumulated amortization of $211,067 and $193,315 at December 31, 2023 and 2022, respectively (note 6) | 398,302 | 354,204 |
Lease liabilities | 246,063 | 213,722 |
Tenants’ security, escrow deposits and prepaid rent | 78,052 | 70,242 |
Total liabilities | 5,234,978 | 4,682,181 |
Stockholders' equity/Partners' capital: | ||
Preferred units $0.01 par value per unit, 30,000,000 units authorized; 9,000,000 units issued, in the aggregate, in Series A and Series B at December 31, 2023 with liquidation preferences of $25 per unit and no units authorized or issued at December 31, 2022 General partner; 184,581,070 and 171,124,593 units outstanding at December 31, 2023 and 2022, respectively | 225,000 | |
General partner; 184,581,070 and 171,124,593 units outstanding at December 31, 2023 and 2022, respectively | 6,808,995 | 6,089,425 |
Limited partners; 1,107,454 and 741,433 units outstanding at December 31, 2023 and 2022, respectively | 42,195 | 34,489 |
Accumulated other comprehensive (loss) income | (1,308) | 7,560 |
Total partners’ capital | 7,074,882 | 6,131,474 |
Noncontrolling interests (note 12): | ||
Limited partners' interests in consolidated partnerships (note 1) | 117,053 | 46,565 |
Total capital | 7,191,935 | 6,178,039 |
Total liabilities and equity | $ 12,426,913 | $ 10,860,220 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Restricted cash and cash equivalent | $ 6,383 | $ 2,310 |
Deferred costs accumulated amortization | 124,107 | 117,137 |
Accumulated amortization of acquired lease intangible assets | 364,413 | 338,053 |
Accumulated accretion of acquired lease intangible liabilities | $ 211,067 | $ 193,315 |
Preferred stock, par value per share | $ 0.01 | |
Preferred stock, shares authorized | 30,000,000 | 0 |
Preferred stock, shares issued | 9,000,000 | 0 |
Preferred stock, liquidation preferences | $ 25 | |
Common stock, par value per share | $ 0.01 | $ 0.01 |
Common stock, shares authorized | 220,000,000 | 220,000,000 |
Common stock, shares issued | 184,581,070 | 171,124,593 |
Treasury stock, shares held at cost | 448,140 | 465,415 |
Exchangeable operating partnership units aggregate redemption value | $ 74,199 | $ 46,340 |
General partner units, outstanding | 184,581,000 | 171,125,000 |
Limited partner units, outstanding | 1,108,000 | 741,000 |
Partnership Interest [Member] | ||
Restricted cash and cash equivalent | $ 6,383 | $ 2,310 |
Deferred costs accumulated amortization | 124,107 | 117,137 |
Accumulated amortization of acquired lease intangible assets | 364,413 | 338,053 |
Accumulated accretion of acquired lease intangible liabilities | $ 211,067 | $ 193,315 |
Preferred stock, par value per units | $ 0.01 | |
Preferred units of general partner units, liquidation preferences | $ 25 | |
Preferred units, authorized | 30,000,000 | 0 |
Preferred units, issued | 9,000,000 | 0 |
General partner units, outstanding | 184,581,070 | 171,124,593 |
Limited partner units, outstanding | 1,107,454 | 741,433 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Revenues: | |||
Lease income | $ 1,283,939 | $ 1,187,452 | $ 1,113,368 |
Other property income | 11,573 | 10,719 | 12,456 |
Management, transaction, and other fees | 26,954 | 25,851 | 40,337 |
Total revenues | 1,322,466 | 1,224,022 | 1,166,161 |
Operating expenses: | |||
Depreciation and amortization | 352,282 | 319,697 | 303,331 |
Property operating expense | 229,209 | 196,148 | 184,553 |
Real estate taxes | 165,560 | 149,795 | 142,129 |
General and administrative | 97,806 | 79,903 | 78,218 |
Other operating expenses | 9,459 | 6,166 | 5,751 |
Total operating expenses | 854,316 | 751,709 | 713,982 |
Other expense (income): | |||
Interest expense, net | 154,249 | 146,186 | 145,170 |
Provision for impairment of real estate | 84,389 | ||
Gain on sale of real estate, net of tax | (661) | (109,005) | (91,119) |
Early extinguishment of debt | (99) | ||
Net investment (income) loss | (5,665) | 6,921 | (5,463) |
Total other expense | 147,824 | 44,102 | 132,977 |
Income from operations before equity in income of investments in real estate partnerships | 320,326 | 428,211 | 319,202 |
Equity in income of investments in real estate partnerships (note 4) | 50,541 | 59,824 | 47,086 |
Net income | 370,867 | 488,035 | 366,288 |
Noncontrolling interests: | |||
Exchangeable operating partnership units | (2,008) | (2,105) | (1,615) |
Limited partners’ interests in consolidated partnerships | (4,302) | (3,065) | (3,262) |
Income attributable to noncontrolling interests | (6,310) | (5,170) | (4,877) |
Net income attributable to the Company | 364,557 | 482,865 | 361,411 |
Preferred stock dividends | (5,057) | ||
Net income attributable to common shareholders | $ 359,500 | $ 482,865 | $ 361,411 |
Income per common share - basic (note 15) | $ 2.04 | $ 2.82 | $ 2.12 |
Income per common share - diluted (note 15) | $ 2.04 | $ 2.81 | $ 2.12 |
Partnership Interest [Member] | |||
Revenues: | |||
Lease income | $ 1,283,939 | $ 1,187,452 | $ 1,113,368 |
Other property income | 11,573 | 10,719 | 12,456 |
Management, transaction, and other fees | 26,954 | 25,851 | 40,337 |
Total revenues | 1,322,466 | 1,224,022 | 1,166,161 |
Operating expenses: | |||
Depreciation and amortization | 352,282 | 319,697 | 303,331 |
Property operating expense | 229,209 | 196,148 | 184,553 |
Real estate taxes | 165,560 | 149,795 | 142,129 |
General and administrative | 97,806 | 79,903 | 78,218 |
Other operating expenses | 9,459 | 6,166 | 5,751 |
Total operating expenses | 854,316 | 751,709 | 713,982 |
Other expense (income): | |||
Interest expense, net | 154,249 | 146,186 | 145,170 |
Provision for impairment of real estate | 84,389 | ||
Gain on sale of real estate, net of tax | (661) | (109,005) | (91,119) |
Early extinguishment of debt | (99) | ||
Net investment (income) loss | (5,665) | 6,921 | (5,463) |
Total other expense | 147,824 | 44,102 | 132,977 |
Income from operations before equity in income of investments in real estate partnerships | 320,326 | 428,211 | 319,202 |
Equity in income of investments in real estate partnerships (note 4) | 50,541 | 59,824 | 47,086 |
Net income | 370,867 | 488,035 | 366,288 |
Noncontrolling interests: | |||
Limited partners’ interests in consolidated partnerships | (4,302) | (3,065) | (3,262) |
Income attributable to noncontrolling interests | (4,302) | (3,065) | (3,262) |
Net income attributable to the Company | 366,565 | 484,970 | 363,026 |
Preferred unit distributions and issuance costs | (5,057) | ||
Net income attributable to common unit holders | $ 361,508 | $ 484,970 | $ 363,026 |
Income per common unit - basic (note 15): | $ 2.04 | $ 2.82 | $ 2.12 |
Income per common unit - diluted (note 15): | $ 2.04 | $ 2.81 | $ 2.12 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Net income | $ 370,867 | $ 488,035 | $ 366,288 |
Other comprehensive income : | |||
Effective portion of change in fair value of derivative instruments | (2,448) | 20,061 | 5,391 |
Reclassification adjustment of derivative instruments included in net income | (7,536) | 833 | 4,141 |
Unrealized gain (loss) on available-for-sale debt securities | 337 | (1,309) | (405) |
Other comprehensive (loss) income | (9,647) | 19,585 | 9,127 |
Comprehensive income | 361,220 | 507,620 | 375,415 |
Less: comprehensive income attributable to noncontrolling interests: | |||
Net income attributable to noncontrolling interests | 6,310 | 5,170 | 4,877 |
Other comprehensive (loss) income attributable to noncontrolling interests | (779) | 1,798 | 729 |
Comprehensive income attributable to noncontrolling interests | 5,531 | 6,968 | 5,606 |
Comprehensive income attributable to the Company | 355,689 | 500,652 | 369,809 |
Partnership Interest [Member] | |||
Net income | 370,867 | 488,035 | 366,288 |
Other comprehensive income : | |||
Effective portion of change in fair value of derivative instruments | (2,448) | 20,061 | 5,391 |
Reclassification adjustment of derivative instruments included in net income | (7,536) | 833 | 4,141 |
Unrealized gain (loss) on available-for-sale debt securities | 337 | (1,309) | (405) |
Other comprehensive (loss) income | (9,647) | 19,585 | 9,127 |
Comprehensive income | 361,220 | 507,620 | 375,415 |
Less: comprehensive income attributable to noncontrolling interests: | |||
Net income attributable to noncontrolling interests | 4,302 | 3,065 | 3,262 |
Other comprehensive (loss) income attributable to noncontrolling interests | (731) | 1,713 | 689 |
Comprehensive income attributable to noncontrolling interests | 3,571 | 4,778 | 3,951 |
Comprehensive income attributable to the Company | $ 357,649 | $ 502,842 | $ 371,464 |
Consolidated Statements of Equi
Consolidated Statements of Equity - USD ($) $ in Thousands | Total | Preferred Stock [Member] | Common Stock [Member] | Treasury Stock [Member] | Additional Paid-in Capital [Member] | Accumulated Other Comprehensive Loss [Member] | Distributions in Excess of Net Income [Member] | Total Stockholders' Equity [Member] | Noncontrolling Interest Exchangeable Operating Partnership Units [Member] | Noncontrolling Interests in Limited Partners' Interest in Consolidated Partnerships [Member] | Total Noncontrolling Interest [Member] |
Beginning balance at Dec. 31, 2020 | $ 6,058,147 | $ 1,697 | $ (24,436) | $ 7,792,082 | $ (18,625) | $ (1,765,806) | $ 5,984,912 | $ 35,727 | $ 37,508 | $ 73,235 | |
Net income | 366,288 | 361,411 | 361,411 | 1,615 | 3,262 | 4,877 | |||||
Other comprehensive income | |||||||||||
Other comprehensive income before reclassification | 4,986 | 4,603 | 4,603 | 23 | 360 | 383 | |||||
Amounts reclassified from accumulated other comprehensive income (loss) | 4,141 | 3,795 | 3,795 | 17 | 329 | 346 | |||||
Deferred compensation plan, net | 75 | 1,678 | (1,603) | 75 | |||||||
Restricted stock issued, net of amortization | 12,652 | 2 | 12,650 | 12,652 | |||||||
Common stock repurchased for taxes withheld for stock-based compensation, net | (3,553) | (3,553) | (3,553) | ||||||||
Common stock issued under dividend reinvestment plan | 1,286 | 1,286 | 1,286 | ||||||||
Common stock issued for partnership units exchanged | 99 | 99 | (99) | (99) | |||||||
Common stock issued, net of issuance costs | 82,510 | 13 | 82,497 | 82,510 | |||||||
Distributions to partners | (4,345) | (4,345) | (4,345) | ||||||||
Cash dividends declared - common stock/unit | (412,255) | (410,419) | (410,419) | (1,836) | (1,836) | ||||||
Ending Balance at Dec. 31, 2021 | 6,109,932 | 1,712 | (22,758) | 7,883,458 | (10,227) | (1,814,814) | 6,037,371 | 35,447 | 37,114 | 72,561 | |
Net income | 488,035 | 482,865 | 482,865 | 2,105 | 3,065 | 5,170 | |||||
Other comprehensive income | |||||||||||
Other comprehensive income before reclassification | 18,752 | 17,008 | 17,008 | 80 | 1,664 | 1,744 | |||||
Amounts reclassified from accumulated other comprehensive income (loss) | 833 | 779 | 779 | 5 | 49 | 54 | |||||
Deferred compensation plan, net | (1) | (1,703) | 1,702 | (1) | |||||||
Restricted stock issued, net of amortization | 16,667 | 2 | 16,665 | 16,667 | |||||||
Common stock repurchased for taxes withheld for stock-based compensation, net | (5,858) | (5,858) | (5,858) | ||||||||
Common stock repurchased and retired | (75,419) | (13) | (75,406) | (75,419) | |||||||
Common stock issued under dividend reinvestment plan | 524 | 524 | 524 | ||||||||
Common stock issued for partnership units exchanged | 1,275 | 1,275 | (1,275) | (1,275) | |||||||
Common stock issued, net of issuance costs | 61,284 | 10 | 61,274 | 61,284 | |||||||
Reallocation of noncontrolling interest, net of transaction costs | (216) | (6,482) | (6,482) | 6,266 | 6,266 | ||||||
Contributions from partners | 13,223 | 13,223 | 13,223 | ||||||||
Distributions to partners | (14,816) | (14,816) | (14,816) | ||||||||
Cash dividends declared - common stock/unit | (434,901) | (433,028) | (433,028) | (1,873) | (1,873) | ||||||
Ending Balance at Dec. 31, 2022 | 6,178,039 | 1,711 | (24,461) | 7,877,152 | 7,560 | (1,764,977) | 6,096,985 | 34,489 | 46,565 | 81,054 | |
Net income | 370,867 | 364,557 | 364,557 | 2,008 | 4,302 | 6,310 | |||||
Other comprehensive income | |||||||||||
Other comprehensive income before reclassification | (2,111) | (2,063) | (2,063) | (9) | (39) | (48) | |||||
Amounts reclassified from accumulated other comprehensive income (loss) | (7,536) | (6,805) | (6,805) | (39) | (692) | (731) | |||||
Adjustment for noncontrolling interests in the Operating Partnership | 13,518 | 13,518 | (13,518) | (13,518) | |||||||
Deferred compensation plan, net | (1,027) | 1,027 | |||||||||
Restricted stock issued, net of amortization | 20,441 | 2 | 20,439 | 20,441 | |||||||
Common stock repurchased for taxes withheld for stock-based compensation, net | (7,074) | (7,074) | (7,074) | ||||||||
Common stock repurchased and retired | (20,006) | (3) | (20,003) | (20,006) | |||||||
Repurchase of exchangeable operating partnership units | (9,163) | (9,163) | (9,163) | ||||||||
Common stock issued under dividend reinvestment plan | 622 | 622 | 622 | ||||||||
Common stock issued for partnership units exchanged | 198 | 198 | (198) | (198) | |||||||
Common stock issued, net of issuance costs | 818,497 | 136 | 818,361 | 818,497 | |||||||
Issuance of exchangeable operating partnership units | 31,253 | 31,253 | 31,253 | ||||||||
Issuance of preferred stock | 225,000 | $ 225,000 | 225,000 | ||||||||
Contributions from partners | 74,730 | 74,730 | 74,730 | ||||||||
Distributions to partners | (7,813) | (7,813) | (7,813) | ||||||||
Cash dividends declared - preferred stock/unit | (5,057) | (5,057) | (5,057) | ||||||||
Cash dividends declared - common stock/unit | (468,754) | (466,126) | (466,126) | (2,628) | (2,628) | ||||||
Ending Balance at Dec. 31, 2023 | $ 7,191,935 | $ 225,000 | $ 1,846 | $ (25,488) | $ 8,704,240 | $ (1,308) | $ (1,871,603) | $ 7,032,687 | $ 42,195 | $ 117,053 | $ 159,248 |
Consolidated Statements of Eq_2
Consolidated Statements of Equity (Parenthetical) - $ / shares | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Statement of Stockholders' Equity [Abstract] | |||
Common stock/unit per share | $ 2.62 | $ 2.525 | $ 2.41 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Cash flows from operating activities: | |||
Net income | $ 370,867 | $ 488,035 | $ 366,288 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation and amortization | 352,282 | 319,697 | 303,331 |
Amortization of deferred loan costs and debt premiums | 8,252 | 5,799 | 6,003 |
Accretion of above and below market lease intangibles, net | (29,130) | (20,995) | (22,936) |
Stock-based compensation, net of capitalization | 20,075 | 16,521 | 12,515 |
Equity in income of investments in real estate partnerships | (50,541) | (59,824) | (47,086) |
Gain on sale of real estate, net of tax | (661) | (109,005) | (91,119) |
Provision for impairment of real estate, net of tax | 84,389 | ||
Early extinguishment of debt | (99) | ||
Distribution of earnings from investments in real estate partnerships | 66,531 | 61,416 | 71,934 |
Settlement of derivative instruments | (2,472) | ||
Deferred compensation expense (income) | 4,782 | (6,128) | 4,572 |
Realized and unrealized (gain) loss on investments | (5,571) | 7,040 | (5,348) |
Changes in assets and liabilities: | |||
Tenant and other receivables | (13,904) | (35,274) | (24,869) |
Deferred leasing costs | (11,156) | (10,801) | (6,966) |
Other assets | 3,028 | 1,292 | (1,226) |
Accounts payable and other liabilities | 5,152 | (9,088) | 6,677 |
Tenants’ security, escrow deposits and prepaid rent | (316) | 7,130 | 5,701 |
Net cash provided by operating activities | 719,591 | 655,815 | 659,388 |
Cash flows from investing activities: | |||
Acquisition of operating real estate, net of cash acquired of $0, $3,061 and $2,991 in 2023, 2022 and 2021, respectively | (45,386) | (169,639) | (392,051) |
Acquisition of UBP, net of cash acquired of $14,143 | (82,389) | ||
Real estate development and capital improvements | (232,855) | (195,418) | (177,631) |
Proceeds from sale of real estate | 11,167 | 143,133 | 206,193 |
Issuance of notes receivable | (4,000) | (20) | |
Collection of notes receivable | 4,000 | 1,823 | |
Investments in real estate partnerships | (13,119) | (36,266) | (23,476) |
Return of capital from investments in real estate partnerships | 11,308 | 48,473 | 99,945 |
Dividends on investment securities | 1,283 | 1,113 | 813 |
Acquisition of investment securities | (7,990) | (21,112) | (23,971) |
Proceeds from sale of investment securities | 16,003 | 21,785 | 23,846 |
Net cash used in investing activities | (341,978) | (206,108) | (286,352) |
Cash flows from financing activities: | |||
Net proceeds from common stock issuance | (33) | 61,284 | 82,510 |
Repurchase of common shares in conjunction with equity award plans | (7,662) | (6,447) | (4,083) |
Common shares repurchased through share repurchase program | (20,006) | (75,419) | |
Proceeds from sale of treasury stock | 103 | 64 | 96 |
Contributions from limited partners in consolidated partnerships | 10,238 | ||
Distributions to limited partners in consolidated partnerships | (7,813) | (7,245) | (4,345) |
Distributions to exchangeable operating partnership unit holders | (2,368) | (1,867) | (1,815) |
Redemption of exchangeable operating partnership units | (9,163) | ||
Dividends paid to common stockholders | (453,065) | (428,276) | (403,085) |
Dividends paid to preferred shareholders | (3,413) | ||
Proceeds from unsecured credit facilities | 557,000 | 95,000 | |
Repayment of unsecured credit facilities | (405,000) | (95,000) | (265,000) |
Proceeds from notes payable | 59,500 | ||
Repayment of notes payable | (61,592) | (6,745) | (42,014) |
Scheduled principal payments | (11,235) | (11,219) | (11,255) |
Payment of loan costs | (526) | (88) | (7,468) |
Net cash used in financing activities | (355,035) | (475,958) | (656,459) |
Net change in cash, cash equivalents, and restricted cash | 22,578 | (26,251) | (283,423) |
Cash, cash equivalents, and restricted cash at beginning of the year | 68,776 | 95,027 | 378,450 |
Cash, cash equivalents, and restricted cash at end of the year | 91,354 | 68,776 | 95,027 |
Supplemental disclosure of cash flow information: | |||
Cash paid for interest (net of capitalized interest of $5,695, $4,166, and $4,202 in 2023, 2022, and 2021, respectively) | 147,176 | 141,359 | 140,084 |
Cash paid for income taxes, net of refunds | 933 | 570 | 378 |
Supplemental disclosure of non-cash transactions: | |||
Common and Preferred stock, and exchangeable operating partnership dividends declared but not paid | 126,683 | 111,709 | 107,480 |
Previously held equity investments in real estate assets acquired | 17,179 | (4,609) | |
Mortgage loans assumed by Company with the acquisition of real estate | 98 | 22,779 | 111,104 |
Right of use assets obtained in exchange for new operating lease liabilities | 36,577 | ||
Sale of leased asset in exchange for net investment in sales-type lease | 8,510 | ||
Common stock issued for partnership units exchanged | 199 | 1,275 | 99 |
Issuance of exchangeable operating partnership units | 31,253 | ||
Real estate received in lieu of promote interest | 13,589 | ||
Change in accrued capital expenditures | 8,877 | 4,888 | 10,188 |
Common stock issued under dividend reinvestment plan | 622 | 524 | 1,286 |
Stock-based compensation capitalized | 954 | 735 | 666 |
Contributions to investments in real estate partnerships | 920 | ||
Contributions from limited partners in consolidated partnerships, net | 5,436 | ||
Reallocation of equity upon acquisition of a limited partner's interest in a consolidated partnership | 6,266 | ||
Common stock issued for dividend reinvestment in trust | 1,193 | 1,126 | 1,084 |
Contribution of stock awards into trust | 2,080 | 2,250 | 1,416 |
Distribution of stock held in trust | 2,245 | 786 | 3,647 |
Change in fair value of securities | 338 | 1,658 | 513 |
UBP Acquisition [Member] | |||
Supplemental disclosure of non-cash transactions: | |||
Notes payable assumed in acquisition, at fair value | 284,706 | ||
Noncontrolling interest assumed in acquisition, at fair value | 64,492 | ||
Common Stock [Member] | UBP Acquisition [Member] | |||
Supplemental disclosure of non-cash transactions: | |||
Stock exchanged | 818,530 | ||
Preferred Stock [Member] | UBP Acquisition [Member] | |||
Supplemental disclosure of non-cash transactions: | |||
Stock exchanged | 225,000 | ||
Partnership Interest [Member] | |||
Cash flows from operating activities: | |||
Net income | 370,867 | 488,035 | 366,288 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation and amortization | 352,282 | 319,697 | 303,331 |
Amortization of deferred loan costs and debt premiums | 8,252 | 5,799 | 6,003 |
Accretion of above and below market lease intangibles, net | (29,130) | (20,995) | (22,936) |
Stock-based compensation, net of capitalization | 20,075 | 16,521 | 12,515 |
Equity in income of investments in real estate partnerships | (50,541) | (59,824) | (47,086) |
Gain on sale of real estate, net of tax | (661) | (109,005) | (91,119) |
Provision for impairment of real estate, net of tax | 84,389 | ||
Early extinguishment of debt | (99) | ||
Distribution of earnings from investments in real estate partnerships | 66,531 | 61,416 | 71,934 |
Settlement of derivative instruments | (2,472) | ||
Deferred compensation expense (income) | 4,782 | (6,128) | 4,572 |
Realized and unrealized (gain) loss on investments | (5,571) | 7,040 | (5,348) |
Changes in assets and liabilities: | |||
Tenant and other receivables | (13,904) | (35,274) | (24,869) |
Deferred leasing costs | (11,156) | (10,801) | (6,966) |
Other assets | 3,028 | 1,292 | (1,226) |
Accounts payable and other liabilities | 5,152 | (9,088) | 6,677 |
Tenants’ security, escrow deposits and prepaid rent | (316) | 7,130 | 5,701 |
Net cash provided by operating activities | 719,591 | 655,815 | 659,388 |
Cash flows from investing activities: | |||
Acquisition of operating real estate, net of cash acquired of $0, $3,061 and $2,991 in 2023, 2022 and 2021, respectively | (45,386) | (169,639) | (392,051) |
Acquisition of UBP, net of cash acquired of $14,143 | (82,389) | ||
Real estate development and capital improvements | (232,855) | (195,418) | (177,631) |
Proceeds from sale of real estate | 11,167 | 143,133 | 206,193 |
Issuance of notes receivable | (4,000) | (20) | |
Collection of notes receivable | 4,000 | 1,823 | |
Investments in real estate partnerships | (13,119) | (36,266) | (23,476) |
Return of capital from investments in real estate partnerships | 11,308 | 48,473 | 99,945 |
Dividends on investment securities | 1,283 | 1,113 | 813 |
Acquisition of investment securities | (7,990) | (21,112) | (23,971) |
Proceeds from sale of investment securities | 16,003 | 21,785 | 23,846 |
Net cash used in investing activities | (341,978) | (206,108) | (286,352) |
Cash flows from financing activities: | |||
Net proceeds from common stock issuance | (33) | 61,284 | 82,510 |
Repurchase of common shares in conjunction with equity award plans | (7,662) | (6,447) | (4,083) |
Common shares repurchased through share repurchase program | (20,006) | (75,419) | |
Proceeds from sale of treasury stock | 103 | 64 | 96 |
Distributions to partners | (455,433) | (430,143) | (404,900) |
Contributions from limited partners in consolidated partnerships | 10,238 | ||
Distributions to limited partners in consolidated partnerships | (7,813) | (7,245) | (4,345) |
Redemption of exchangeable operating partnership units | (9,163) | ||
Dividends paid to preferred shareholders | (3,413) | ||
Proceeds from unsecured credit facilities | 557,000 | 95,000 | |
Repayment of unsecured credit facilities | (405,000) | (95,000) | (265,000) |
Proceeds from notes payable | 59,500 | ||
Repayment of notes payable | (61,592) | (6,745) | (42,014) |
Scheduled principal payments | (11,235) | (11,219) | (11,255) |
Payment of loan costs | (526) | (88) | (7,468) |
Net cash used in financing activities | (355,035) | (475,958) | (656,459) |
Net change in cash, cash equivalents, and restricted cash | 22,578 | (26,251) | (283,423) |
Cash, cash equivalents, and restricted cash at beginning of the year | 68,776 | 95,027 | 378,450 |
Cash, cash equivalents, and restricted cash at end of the year | 91,354 | 68,776 | 95,027 |
Supplemental disclosure of cash flow information: | |||
Cash paid for interest (net of capitalized interest of $5,695, $4,166, and $4,202 in 2023, 2022, and 2021, respectively) | 147,176 | 141,359 | 140,084 |
Cash paid for income taxes, net of refunds | 933 | 570 | 378 |
Supplemental disclosure of non-cash transactions: | |||
Common and Preferred stock, and exchangeable operating partnership dividends declared but not paid | 126,683 | 111,709 | 107,480 |
Previously held equity investments in real estate assets acquired | 17,179 | (4,609) | |
Mortgage loans assumed by Company with the acquisition of real estate | 98 | 22,779 | 111,104 |
Right of use assets obtained in exchange for new operating lease liabilities | 36,577 | ||
Sale of leased asset in exchange for net investment in sales-type lease | 8,510 | ||
Common stock issued for partnership units exchanged | 199 | 1,275 | 99 |
Issuance of exchangeable operating partnership units | 31,253 | ||
Real estate received in lieu of promote interest | 13,589 | ||
Change in accrued capital expenditures | 8,877 | 4,888 | 10,188 |
Common stock issued under dividend reinvestment plan | 622 | 524 | 1,286 |
Stock-based compensation capitalized | 954 | 735 | 666 |
Contributions to investments in real estate partnerships | 920 | ||
Contributions from limited partners in consolidated partnerships, net | 5,436 | ||
Reallocation of equity upon acquisition of a limited partner's interest in a consolidated partnership | 6,266 | ||
Common stock issued for dividend reinvestment in trust | 1,193 | 1,126 | 1,084 |
Contribution of stock awards into trust | 2,080 | 2,250 | 1,416 |
Distribution of stock held in trust | 2,245 | 786 | 3,647 |
Change in fair value of securities | 338 | $ 1,658 | $ 513 |
Partnership Interest [Member] | UBP Acquisition [Member] | |||
Supplemental disclosure of non-cash transactions: | |||
Notes payable assumed in acquisition, at fair value | 284,706 | ||
Noncontrolling interest assumed in acquisition, at fair value | 64,492 | ||
Partnership Interest [Member] | Common Stock [Member] | UBP Acquisition [Member] | |||
Supplemental disclosure of non-cash transactions: | |||
Stock exchanged | 818,530 | ||
Partnership Interest [Member] | Preferred Stock [Member] | UBP Acquisition [Member] | |||
Supplemental disclosure of non-cash transactions: | |||
Stock exchanged | $ 225,000 |
Consolidated Statements of Ca_2
Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Net of cash acquired | $ 0 | $ 3,061 | $ 2,991 |
Capitalized interest | 5,695 | 4,166 | 4,202 |
UBP Acquisition [Member] | |||
Net of cash acquired | 14,143 | ||
Partnership Interest [Member] | |||
Net of cash acquired | 0 | 3,061 | 2,991 |
Capitalized interest | 5,695 | $ 4,166 | $ 4,202 |
Partnership Interest [Member] | UBP Acquisition [Member] | |||
Net of cash acquired | $ 14,143 |
Consolidated Statement of Capit
Consolidated Statement of Capital - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Net income | $ 370,867 | $ 488,035 | $ 366,288 |
Other comprehensive income | |||
Amounts reclassified from accumulated other comprehensive income (loss) | (7,536) | 833 | 4,141 |
Deferred compensation plan, net | (1) | 75 | |
Contributions from partners | 74,730 | 13,223 | |
Issuance of exchangeable operating partnership units | 31,253 | ||
Distributions to partners | (7,813) | (14,816) | (4,345) |
Restricted units issued as a result of restricted stock issued by Parent Company, net of amortization | 20,441 | 16,667 | 12,652 |
Total Partners' Capital [Member] | |||
Net income | 364,557 | 482,865 | 361,411 |
Other comprehensive income | |||
Amounts reclassified from accumulated other comprehensive income (loss) | (6,805) | 779 | 3,795 |
Deferred compensation plan, net | (1) | 75 | |
Restricted units issued as a result of restricted stock issued by Parent Company, net of amortization | 20,441 | 16,667 | 12,652 |
Partnership Interest [Member] | |||
Beginning Balance | 6,178,039 | 6,109,932 | 6,058,147 |
Net income | 370,867 | 488,035 | 366,288 |
Other comprehensive income | |||
Other comprehensive income before reclassifications | (2,111) | 18,752 | 4,986 |
Amounts reclassified from accumulated other comprehensive income (loss) | (7,536) | 833 | 4,141 |
Deferred compensation plan, net | (1) | 75 | |
Contributions from partners | 74,730 | 13,223 | |
Issuance of exchangeable operating partnership units | 31,253 | ||
Distributions to partners | (476,567) | (449,717) | (416,600) |
Preferred unit distributions | (5,057) | ||
Reallocation of limited partners' interest, net of transaction costs | (216) | ||
Restricted units issued as a result of restricted stock issued by Parent Company, net of amortization | 20,441 | 16,667 | 12,652 |
Preferred units issued as a result of preferred stock issued by Parent Company, net of issuance costs | 225,000 | ||
Common units repurchased and retired as a result of common stock repurchased and retired by Parent Company | (20,006) | (75,419) | |
Common units issued as a result of common stock issued by Parent Company, net of issuance costs | 818,497 | 61,284 | 82,510 |
Repurchase of exchangeable operating partnership units | (9,163) | ||
Common units repurchased as a result of common stock repurchased by Parent Company, net of issuances | (6,452) | (5,334) | (2,267) |
Ending Balance | 7,191,935 | 6,178,039 | 6,109,932 |
Partnership Interest [Member] | Total Partners' Capital [Member] | |||
Beginning Balance | 6,131,474 | 6,072,818 | 6,020,639 |
Net income | 366,565 | 484,970 | 363,026 |
Other comprehensive income | |||
Other comprehensive income before reclassifications | (2,072) | 17,088 | 4,626 |
Amounts reclassified from accumulated other comprehensive income (loss) | (6,844) | 784 | 3,812 |
Deferred compensation plan, net | (1) | 75 | |
Issuance of exchangeable operating partnership units | 31,253 | ||
Distributions to partners | (468,754) | (434,901) | (412,255) |
Preferred unit distributions | (5,057) | ||
Reallocation of limited partners' interest, net of transaction costs | (6,482) | ||
Restricted units issued as a result of restricted stock issued by Parent Company, net of amortization | 20,441 | 16,667 | 12,652 |
Preferred units issued as a result of preferred stock issued by Parent Company, net of issuance costs | 225,000 | ||
Common units repurchased and retired as a result of common stock repurchased and retired by Parent Company | (20,006) | (75,419) | |
Common units issued as a result of common stock issued by Parent Company, net of issuance costs | 818,497 | 61,284 | 82,510 |
Repurchase of exchangeable operating partnership units | (9,163) | ||
Common units repurchased as a result of common stock repurchased by Parent Company, net of issuances | (6,452) | (5,334) | (2,267) |
Ending Balance | 7,074,882 | 6,131,474 | 6,072,818 |
Partnership Interest [Member] | Accumulated Other Comprehensive Loss [Member] | |||
Beginning Balance | 7,560 | (10,227) | (18,625) |
Other comprehensive income | |||
Other comprehensive income before reclassifications | (2,063) | 17,008 | 4,603 |
Amounts reclassified from accumulated other comprehensive income (loss) | (6,805) | 779 | 3,795 |
Ending Balance | (1,308) | 7,560 | (10,227) |
Partnership Interest [Member] | Noncontrolling Interests in Limited Partners' Interest in Consolidated Partnerships [Member] | |||
Beginning Balance | 46,565 | 37,114 | 37,508 |
Net income | 4,302 | 3,065 | 3,262 |
Other comprehensive income | |||
Other comprehensive income before reclassifications | (39) | 1,664 | 360 |
Amounts reclassified from accumulated other comprehensive income (loss) | (692) | 49 | 329 |
Contributions from partners | 74,730 | 13,223 | |
Distributions to partners | (7,813) | (14,816) | (4,345) |
Reallocation of limited partners' interest, net of transaction costs | 6,266 | ||
Ending Balance | 117,053 | 46,565 | 37,114 |
Partnership Interest [Member] | General Partner Preferred and Common Units [Member] | |||
Beginning Balance | 6,089,425 | 6,047,598 | 6,003,537 |
Net income | 364,557 | 482,865 | 361,411 |
Other comprehensive income | |||
Deferred compensation plan, net | (1) | 75 | |
Adjustment for noncontrolling interests in the Operating Partnership | 13,518 | ||
Distributions to partners | (466,126) | (433,028) | (410,419) |
Preferred unit distributions | (5,057) | ||
Reallocation of limited partners' interest, net of transaction costs | (6,482) | ||
Restricted units issued as a result of restricted stock issued by Parent Company, net of amortization | 20,441 | 16,667 | 12,652 |
Preferred units issued as a result of preferred stock issued by Parent Company, net of issuance costs | 225,000 | ||
Common units repurchased and retired as a result of common stock repurchased and retired by Parent Company | (20,006) | (75,419) | |
Common units issued as a result of common stock issued by Parent Company, net of issuance costs | 818,497 | 61,284 | 82,510 |
Common units repurchased as a result of common stock repurchased by Parent Company, net of issuances | (6,452) | (5,334) | (2,267) |
Common units exchanged for common stock of Parent Company | 198 | 1,275 | 99 |
Ending Balance | 7,033,995 | 6,089,425 | 6,047,598 |
Partnership Interest [Member] | Limited Partner [Member] | |||
Beginning Balance | 34,489 | 35,447 | 35,727 |
Net income | 2,008 | 2,105 | 1,615 |
Other comprehensive income | |||
Other comprehensive income before reclassifications | (9) | 80 | 23 |
Amounts reclassified from accumulated other comprehensive income (loss) | (39) | 5 | 17 |
Adjustment for noncontrolling interests in the Operating Partnership | (13,518) | ||
Issuance of exchangeable operating partnership units | 31,253 | ||
Distributions to partners | (2,628) | (1,873) | (1,836) |
Repurchase of exchangeable operating partnership units | (9,163) | ||
Common units exchanged for common stock of Parent Company | (198) | (1,275) | (99) |
Ending Balance | $ 42,195 | $ 34,489 | $ 35,447 |
Pay vs Performance Disclosure
Pay vs Performance Disclosure - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Pay vs Performance Disclosure | |||
Net Income (Loss) | $ 364,557 | $ 482,865 | $ 361,411 |
Insider Trading Arrangements
Insider Trading Arrangements | 3 Months Ended |
Dec. 31, 2023 shares | |
Trading Arrangements, by Individual | |
Material Terms of Trading Arrangement | Item 9B. Other Information Rule 10b5-1 Trading Plans On September 13, 2023 , Martin E. Stein Jr ., the Company’s Executive Chairman of the Board of the Company, took the following actions: (i) Mr. Stein terminated a trading arrangement he had previously adopted with respect to the sale of the Company’s common stock (a “Rule 10b5-1 Trading Plan”). Mr. Stein’s Rule 10b5-1 Trading Plan was adopted on February 23, 2023 and, prior to its termination by Mr. Stein, was to expire by its terms on March 31, 2024 . This Rule 10b5-1 Trading Plan provided for the sale of up to 100,000 shares of common stock pursuant to multiple limit orders. As of the date of termination of this plan, Mr. Stein had not sold any shares of common stock under its terms. (ii) Mr. Stein adopted a new Rule 10b5-1 Trading Plan that is intended to satisfy the affirmative defense conditions of Securities Exchange Act Rule 10b5-1(c). Mr. Stein’s Rule 10b5-1 Trading Plan, which expires on February 15, 2025 , provides for the sale of up to 50,000 shares of common stock pursuant to multiple limit orders. On December 14, 2023, Mr. Stein sold 25,000 shares of common stock at $68.00 per share in accordance with this Rule 10b5-1 Trading Plan. Entry into Material Definitive Agreements Indemnification Agreements On November 2, 2023, the Company entered into an indemnification agreement (an “Indemnification Agreement”) with each current member of its Board of Directors and each of its executive officers (each being referred to as an “Indemnified Party” and collectively as the “Indemnified Parties”). These Indemnification Agreements require the Company, among other things, to indemnify and hold harmless its directors and executive officers against claims, lawsuits, proceedings and liabilities (collectively, “Claims”) that may arise by reason of their status or capacity with, or service to, the Company and its subsidiaries, to the fullest extent permitted by the Company’s Articles of Incorporation, Bylaws and the Florida Business Corporation Act. These Indemnification Agreements also require the Company to advance expenses incurred by the Indemnified Parties in investigating or defending any such Claims, and sets forth various procedures in respect of such advancement and indemnification. The Indemnification Agreements also require the Company to procure customary directors and officers liability insurance, subject to certain conditions. The Company believes that these agreements are appropriate and necessary to attract and retain qualified individuals to serve as directors and executive officers. The foregoing summary of the terms of the Indemnification Agreements does not purport to be complete and is qualified in its entirety by reference to the full text of the “form of” Indemnification Agreement, a copy of which is incorporated by reference as Exhibit 10(k) herein. |
Name | Martin E. Stein Jr |
Title | Executive Chairman |
Rule10 B51 Trading Plan [Member] | |
Trading Arrangements, by Individual | |
Adoption Date | February 23, 2023 |
Termination Date | September 13, 2023 |
Aggregate Available | 100,000 |
Expiration Date | March 31, 2024 |
New Rule10 B51 Trading Plan [Member] | |
Trading Arrangements, by Individual | |
Adoption Date | September 13, 2023 |
Arrangement Duration | 430 days |
Aggregate Available | 50,000 |
Expiration Date | February 15, 2025 |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2023 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | 1. Su mmary of Significant Accounting Policies (a) Organization and Principles of Consolidation General Regency Centers Corporation (the "Parent Company") began its operations as a REIT in 1993 and is the general partner of Regency Centers, L.P. (the "Operating Partnership"). The Parent Company primarily engages in the ownership, management, leasing, acquisition, development, and redevelopment of shopping centers through the Operating Partnership, and has no other assets other than through its investment in the Operating Partnership, and its only liabilities are $ 200 million of unsecured private placement notes, which are co-issued and guaranteed by the Operating Partnership. The Parent Company guarantees all of the unsecured debt of the Operating Partnership. As of December 31, 2023, the Parent Company, the Operating Partnership, and their controlled subsidiaries on a consolidated basis (the "Company" or "Regency") owned 381 properties and held partial interests in an additional 101 properties through unconsolidated Investments in real estate partnerships (also referred to as "joint ventures" or "investment partnerships"). Acquisition of Urstadt Biddle Properties Inc. On May 17, 2023 , the Parent Company entered into an Agreement and Plan of Merger (the “merger agreement”) by and among the Parent Company, Hercules Merger Sub, LLC, a wholly owned subsidiary of the Parent Company (“Merger Sub”), UBP, UB Maryland I, Inc., a wholly owned subsidiary of Urstadt Biddle (“UB Sub I”), and UB Maryland II, Inc., a wholly owned subsidiary of UB Sub I (“UB Sub II”), pursuant to which, (a) UB Sub II merged with and into Urstadt Biddle (the “first merger”), with Urstadt Biddle surviving the first merger as a wholly owned subsidiary of UB Sub I, and (b) following the first merger, UB Sub I merged with and into Merger Sub (the “second merger” and together with the first merger, the “mergers”), with Merger Sub being the surviving entity in the second merger. The combined company continues to trade under the ticker symbol “REG” on the National Association of Securities Dealers Automated Quotations (the “NASDAQ”). The closing of the mergers completed on August 18, 2023 and each share of Urstadt Biddle’s common stock, par value $ 0.01 per share (“Urstadt Biddle common stock”), class A common stock, par value $ 0.01 per share (“Urstadt Biddle Class A common stock” and, together with Urstadt Biddle common stock, the “Urstadt Biddle common shares”), 6.25 % Series H Cumulative Redeemable Preferred Stock and 5.875 % Series K Cumulative Redeemable Preferred Stock converted into one equivalent share in UB Sub I, with respect to each class, subject to limited exceptions set forth in the merger agreement. Immediately thereafter, on August 18, 2023, each share of UB Sub I’s common stock, par value $ 0.01 per share, and class A common stock, par value $ 0.01 per share, converted into 0.347 of a share of common stock, par value $ 0.01 per share, of common stock of the Parent Company, without interest and subject to certain adjustments, subject to limited exceptions set forth in the merger agreement, and each share of UB Sub I’s 6.25 % Series H Cumulative Redeemable Preferred Stock and 5.875 % Series K Cumulative Redeemable Preferred Stock was converted into one share of newly issued Parent Company 6.25 % Series A Cumulative Redeemable Preferred Stock (“Parent Company Series A preferred stock”) and 5.875 % Series B Cumulative Redeemable Preferred Stock (“Parent Company Series B preferred stock”), respectively (collectively referred to as the “Preferred Stock”). Estimates, Risks, and Uncert ainties The preparation of the Consolidated Financial Statements in conformity with U.S. GAAP requires the Company's management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of commitments and contingent assets and liabilities, at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The most significant estimates in the Company's financial statements relate to the net carrying values of its real estate investments, collectibility of lease income, and acquired lease intangible assets and liabilities. It is possible that the estimates and assumptions that have been utilized in the preparation of the Consolidated Financial Statements could change significantly if economic conditions were to weaken . The success of the Company's tenants in operating their businesses and their corresponding ability to pay rent continue to be influenced by current economic challenges, which impact their cost of doing business, including but not limited to the impact of inflation, the cost and availability of labor, increasing energy prices and interest rates, and access to credit. Additionally, macroeconomic and geopolitical challenges, including the war involving Russia and Ukraine, Middle East conflicts and wars, and the economic and other possible conflicts involving China (including any slowing of its economy), could impact aspects of the U.S. economy and, therefore, consumer spending. The policies implemented by the U.S. government to address these issues, including raising interest rates, could result in adverse impacts on the U.S. economy, including a slowing of growth and potentially a recession, thereby impacting consumer spending, tenants' businesses, and/or decreasing future demand for space in shopping centers. The potential impact of current macroeconomic and geopolitical challenges on the Company's financial condition, results of operations, and cash flows is subject to change and continues to depend on the extent and duration of these risks and uncertainties. Consolidation The accompanying Consolidated Financial Statements include the accounts of the Parent Company, the Operating Partnership, its wholly-owned subsidiaries, and consolidated partnerships in which the Company has a controlling financial interest. Investments in real estate partnerships not controlled by the Company are accounted for under the equity method of accounting. All significant inter-company balances and transactions are eliminated in the Consolidated Financial Statements. The Company consolidates properties that are wholly-owned and properties where it owns less than 100% but has control over the activities most important to the overall success of the partnership. Control is determined using an evaluation based on accounting standards related to the consolidation of Variable Interest Entities ("VIEs") and voting interest entities. For joint ventures that are determined to be a VIE, the Company consolidates the entity where it is deemed to be the primary beneficiary. Determination of the primary beneficiary is based on whether an entity has (1) the power to direct the activities of the VIE that most significantly impact the entity's economic performance, and (2) the obligation to absorb losses of the entity that could potentially be significant to the VIE or the right to receive benefits from the entity that could potentially be significant to the VIE. Ownership of the Parent Company The Parent Company has a single class of common stock and two series of preferred stock outstanding. Ownership of the Operating Partnership The Operating Partnership's capital includes Common Units and Preferred Units. As of December 31, 2023, the Parent Company owned approximately 99.4 % or 184,581,070 of the 185,688,524 of the outstanding Common Units, with the remaining limited partner's Common Units held by third parties ("Exchangeable operating partnership units" or "EOP units"). The Parent Company currently owns all of the Preferred Units. Each EOP unit is exchangeable for cash or one share of common stock of the Parent Company, at the discretion of the Parent Company, and the unit holder cannot require redemption in cash or common stock (i.e., registered shares of the Parent). The Parent Company has evaluated the conditions as specified under Accounting Standards Codification ("ASC") Topic 480, Distinguishing Liabilities from Equity , as it relates to EOP units outstanding and concluded that the Parent Company has the right to satisfy the redemption requirements of the units by delivering shares of unregistered common stock. Accordingly, the Parent Company classifies EOP units as permanent equity in the accompanying Consolidated Balance Sheets and Consolidated Statements of Equity and Comprehensive Income. The Parent Company serves as general partner of the Operating Partnership. The EOP unit holders have limited rights over the Operating Partnership such that they do not have the power to direct the activities that most significantly impact the Operating Partnership’s economic performance. As such, the Operating Partnership is considered a VIE, and the Parent Company, which consolidates it, is the primary beneficiary. The Parent Company's only investment is the Operating Partnership. Net income and distributions of the Operating Partnership are allocable to the general and limited common Partnership Units in accordance with their ownership percentages. Real Estate Partnerships As of December 31, 2023, Regency held partial ownership interests in 119 properties through partnerships, of which 18 are consolidated. Regency's partners include institutional investors and real estate developers and/or operators (the "Partners" or "Limited Partners"). These partnerships have been established to own and operate real estate property. Regency has a variable interest in these entities through its equity ownership, with Regency being the primary beneficiary in certain of these real estate partnerships. As such, Regency consolidates the partnerships into its financial statements for which it is the primary beneficiary and reports the limited partners' interests as noncontrolling interests. For those partnerships which Regency is not the primary beneficiary and does not control, but has significant influence, Regency recognizes its investment in them in accordance with the equity method of accounting. The assets of these partnerships are restricted to the use of the partnerships and cannot be reached by general creditors of the Company. Similarly, the obligations of the partnerships can only be settled by the assets of these partnerships or additional contributions by the partners. As managing member, Regency maintains the books and records and typically provides leasing property and asset management services to the partnerships. The Partners' level of involvement in these partnerships varies from protective decisions (debt, bankruptcy, selling primary asset(s) of business) to participating involvement such as approving leases, operating budgets, and capital budgets. • Certain partnerships were deemed VIEs primarily because the unrelated investors do not have substantive kick-out rights to remove the general or managing partner by a vote of a simple majority or less, and they do not have substantive participating rights. Those partnerships for which the Partners are involved in the day to day decisions and do not have any other aspects that would cause them to be considered VIEs, are evaluated for consolidation using the voting interest model. o Those partnerships in which Regency does not have a controlling financial interest are accounted for using the equity method of accounting and Regency's ownership interest is recognized through single-line presentation as Investments in real estate partnerships, in the Consolidated Balance Sheet, and Equity in income of investments in real estate partnerships, in the Consolidated Statements of Operations. Cash distributions of earnings from operations from Investments in real estate partnerships are presented in Cash flows provided by operating activities in the accompanying Consolidated Statements of Cash Flows. Cash distributions from the sale of a property or loan proceeds received from the placement of debt on a property included in Investments in real estate partnerships are presented in Cash flows provided by investing activities in the accompanying Consolidated Statements of Cash Flows. If distributed proceeds from debt refinancing and real estate sales in excess of Regency's carrying value of its investment results in a negative investment balance for a partnership, it is recorded within Accounts payable and other liabilities in the Consolidated Balance Sheets. The net difference in the carrying amount of investments in real estate partnerships and the underlying equity in net assets is accreted to earnings and recorded in Equity in income of investments in real estate partnerships in the accompanying Consolidated Statements of Operations over the expected useful lives of the properties and other intangible assets, which range from 10 to 40 years . The majority of the operations of the VIEs are funded with cash flows generated by the properties, or in the case of developments, with capital contributions or third-party construction loans. The major classes of assets, liabilities, and noncontrolling equity interests held by the Company's consolidated VIEs, exclusive of the Operating Partnership, are as follows: (in thousands) December 31, 2023 December 31, 2022 Assets Net real estate investments $ 270,674 107,725 Cash, cash equivalents, and restricted cash 8,201 2,420 Liabilities Notes payable 33,211 4,188 Equity Limited partners’ interests in consolidated partnerships 88,794 24,364 Noncontrolling Interests The Company accounts for noncontrolling interests in accordance with the Consolidation guidance and the Distinguishing Liabilities from Equity guidance issued by the FASB. Noncontrolling interests represent the portion of equity that the Company does not own in those entities it consolidates. Noncontrolling interests also include amounts related to partnership units issued by consolidated subsidiaries of the Company in connection with certain property acquisitions. These partnership units have a defined redemption amount and the unit holders generally have the right to redeem their units at any time after a certain period from issuance. For these partnership units, the Company has the option to settle redemption amounts in cash or common stock. The Company evaluates the terms of the partnership units issued in accordance with the FASB’s Distinguishing Liabilities from Equity guidance. The partnership units for which the Company has the option to settle redemption amounts in cash or common stock are included in the caption Noncontrolling interests within the equity section on the Company’s Consolidated Balance Sheets. Noncontrolling Interests of the Parent Company The Consolidated Financial Statements of the Parent Company include the following ownership interests held by owners other than the common shareholders of the Parent Company: (i) the EOP units and (ii) the minority-owned interest held by third parties in consolidated partnerships ("Limited partners' interests in consolidated partnerships"). The Parent Company has included all of these noncontrolling interests in permanent equity, separate from the Parent Company's shareholders' equity, in the accompanying Consolidated Balance Sheets and Consolidated Statements of Equity. The portion of net income or comprehensive income attributable to these noncontrolling interests is included in net income and comprehensive income in the accompanying Consolidated Statements of Operations and Consolidated Statements of Comprehensive Income of the Parent Company. The Parent Company also evaluated its fiduciary duties to itself, its shareholders, and, as the managing general partner of the Operating Partnership, to the Operating Partnership, and concluded its fiduciary duties are not in conflict with each other or the underlying agreements. Therefore, the Parent Company classifies such units and interests as permanent equity in the accompanying Consolidated Balance Sheets and Consolidated Statements of Equity. Noncontrolling Interests of the Operating Partnership The Operating Partnership has determined that limited partners' interests in consolidated partnerships are noncontrolling interests. Subject to certain conditions and pursuant to the terms of the partnership agreements, the Company generally has the right, but not the obligation, to purchase the other members' interest or sell its own interest in these consolidated partnerships. The Operating Partnership has included these noncontrolling interests in permanent capital, separate from partners' capital, in the accompanying Consolidated Balance Sheets and Consolidated Statements of Capital. The portion of net income (loss) or comprehensive income (loss) attributable to these noncontrolling interests is included in Net income and Comprehensive income in the accompanying Consolidated Statements of Operations and Consolidated Statements Comprehensive Income of the Operating Partnership. (b) Revenues and Tenant Receivable Leasing Income and Tenant Receivables The Company leases space to tenants under agreements with varying terms that generally provide for fixed payments of base rent, with stated increases over the term of the lease. Some of the lease agreements contain provisions that provide for additional rents based on tenants' sales volume ("percentage rent"), which are recognized when the tenants achieve the specified targets as defined in their lease agreements. Additionally, most lease agreements contain provisions for reimbursement of the tenants' share of actual real estate taxes and insurance and common area maintenance ("CAM") costs (collectively "Recoverable Costs") incurred. Lease terms generally range from three to seven years for tenant spaces under 10,000 square feet ("Shop Space") and in excess of five years for spaces greater than 10,000 square feet ("Anchor Space"). Many leases also provide tenants the option to extend their lease beyond the initial term of the lease. If a tenant does not exercise its option or otherwise negotiate to renew, the lease expires and the lease contains an obligation for the tenant to relinquish its space, allowing it to be re-leased to a new tenant. This generally involves some level of cost to prepare the space for re-leasing, which is capitalized and depreciated over the shorter period of the life of the subsequent lease or the useful life of the improvement. The Company accounts for its leases under ASC Topic 842, Leases ("Topic 842"), as follows: Classification Under Topic 842, new leases or modifications thereto must be evaluated against specific classification criteria, which, based on the customary terms of the Company's leases, are classified as operating leases. However, certain longer-term leases (both lessee and lessor leases) may be classified as direct financing or sales type leases, which may result in selling profit and an accelerated pattern of earnings recognition. At December 31, 2023, the Company classified one lease as a sales type lease, with all others classified as operating leases. Recognition and Presentation Lease income for operating leases with fixed payment terms is recognized on a straight-line basis over the expected term of the lease for all leases for which collectibility is considered probable. CAM is considered a non-lease component of the lease contract under Topic 842. However, as the timing and pattern of providing the CAM service to the tenant is the same as the timing and pattern of the tenant's use of the underlying lease asset, the Company elected, as part of an available practical expedient, to combine CAM with the remaining lease components, along with tenant's reimbursement of real estate taxes and insurance, and recognize them together as Lease income in the accompanying Consolidated Statements of Operations. For sales type leases, the Company records any selling profit or loss arising from the lease at inception within Gain on sale of real estate, net of tax in the accompanying Consolidated Statement of Operations, as well as any initial direct costs recorded as an expense if, at commencement, the fair value of the underlying asset differs from its carrying amount, otherwise, they are deferred and included in the net investment in the lease. The net investment in the sales-type lease represents the lease receivable, the components of which are the future lease payments and any guaranteed residual value for the underlying assets, as well as any unguaranteed residual asset expected at the end of the lease term, each measured at net present value discounted using a rate implicit in the lease. Interest income is recorded within Lease income in the accompanying Consolidated Statements of Operations over the lease term so as to produce a constant periodic rate of return on the Company’s net investment in the leases. At the commencement date, the Company derecognizes the carrying amount of the underlying asset. When measuring the net investment in a long-term ground lease, the undiscounted residual value of the land will be limited to its fair value at commencement which will likely equate to its cost. Collectibility At lease commencement, the Company generally expects that collectibility of substantially all payments due under the lease is probable due to the Company's credit checks on tenants and other creditworthiness analysis undertaken before entering into a new lease; therefore, income from most operating leases is initially recognized on a straight-line basis. For operating leases in which collectibility of Lease income is not considered probable, Lease income is recognized on a cash basis and all previously recognized straight-line rent receivables are reversed in the period in which the Lease income is determined not to be probable of collection. Should collectibility of Lease income become probable again, through evaluation of qualitative and quantitative measures on a tenant by tenant basis, accrual basis accounting resumes and all commencement-to-date straight-line rent is recognized in that period. In addition to the lease-specific collectibility assessment performed under Topic 842, the Company may also recognize a general reserve, as a reduction to Lease income, for its portfolio of operating lease receivables which are not expected to be fully collectible based on the Company's historical collection experience. The Company estimates the collectibility of the accounts receivable related to base rents, straight-line rents, recoveries from tenants, and other revenue taking into consideration the Company's historical write-off experience, tenant credit-worthiness, current economic trends, and remaining lease terms. Uncollectible lease income is a direct charge against Lease income. Although we estimate uncollectible receivables and provide for them through charges against income, actual experience may differ from those estimates. The following table represents the components of Tenant and other receivables, net of amounts considered uncollectible, in the accompanying Consolidated Balance Sheets: December 31, (in thousands) 2023 2022 Tenant receivables $ 34,814 31,486 Straight-line rent receivables 138,590 128,214 Other receivables (1) 32,758 29,163 Total tenant and other receivables, net $ 206,162 188,863 (1) Other receivables include construction receivables, insurance receivables, and amounts due from real estate partnerships for Management, transaction and other fee income. Real Estate Sales The Company accounts for sales of nonfinancial assets under ASC Subtopic 610-20, Other Income - Gains and Losses from the Derecognition of Nonfinancial Assets , whereby the Company derecognizes real estate and recognizes a gain or loss on sales when a contract exists and control of the property has transferred to the buyer. Control of the property, including controlling financial interest, is generally considered to transfer upon closing through transfer of the legal title and possession of the property. While generally rare, any retained noncontrolling interest is measured at fair value at that time. Management Services and Other Property Income The Company recognizes revenue under ASC Topic 606, Revenue from Contracts with Customers ("Topic 606") , when or as control of the promised services are transferred to its customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those services. The following is a description of the Company's revenue from contracts with customers within the scope of Topic 606. Property and Asset Management Services The Company is engaged under agreements with its joint venture partnerships, which are generally perpetual in nature and cancellable through unanimous partner approval, absent an event of default. Under these agreements, the Company is to provide asset and property management and leasing services for the joint ventures' shopping centers. The fees are market-based, generally calculated as a percentage of either revenues earned or the estimated values of the properties managed or the proceeds received, and are recognized over the monthly or quarterly periods as services are rendered. Property management and asset management services represent a series of distinct daily services. Accordingly, the Company satisfies its performance obligation as service is rendered each day and the variability associated with that compensation is resolved each day. Amounts due from the partnerships for such services are paid during the month following the monthly or quarterly service periods. Several of the Company's partnership agreements provide for incentive payments, generally referred to as "promotes" or "earnouts," to Regency for appreciation in property values in Regency's capacity as managing member. The terms of these promotes are based on appreciation in real estate value over designated time intervals or upon designated events. The Company evaluates its expected promote payout at each reporting period, which generally does not result in revenue recognition until the measurement period has completed, when the amount can be reasonably determined and the amount is not probable of significant reversal. Leasing Services Leasing service fees are based on a percentage of the total rent due under the lease. The leasing service is considered performed upon successful execution of an acceptable tenant lease for the joint ventures' shopping centers, at which time revenue is recognized. Payment of the first half of the fee is generally due upon lease execution and the second half is generally due upon tenant opening or the commencement of rent payments. Transaction Services The Company also receives transaction fees, as contractually agreed upon with each joint venture, which include acquisition fees, disposition fees, and financing service fees. Control of these services is generally transferred at the time the related transaction closes, which is the point in time when the Company recognizes the related fee revenue. Any unpaid amounts related to transaction-based fees are included in Tenant and other receivables within the Consolidated Balance Sheets. Other Property Income Other property income includes parking fees and other incidental income from the properties and is generally recognized at the point in time that the performance obligation is met. Income within Management, transaction, and other fees on the Consolidated Statements of Operations is primarily from contracts with the Company's real estate partnerships. The primary components of these revenue streams, the timing of satisfying the performance obligations, and amounts are as follows: Year ended December 31, (in thousands) Timing of 2023 2022 2021 Management, transaction, and other fees: Property management services Over time $ 14,075 13,470 14,415 Asset management services Over time 6,542 6,752 6,921 Promote income Over time — — 13,589 (1) Leasing services Point in time 3,908 3,945 4,096 Other transaction fees Point in time 2,429 1,684 1,316 Total management, transaction, and other fees $ 26,954 25,851 40,337 (1) The Company recog nized $ 13.6 million in p romote revenue during the year ended December 31, 2021, for exceeding partnership return hurdles from the Company's performance as managing member in the USAA partnership. The consideration was paid in the form of a real estate asset. The accounts receivable for management services, which are included within Tenant and other receivables in the accompanying Consolidated Balance Sheets, are $ 18.5 million and $ 16.4 million , as of December 31, 2023 and 2022 , respectively. (c) Real Estate Assets The following table details the components of Real estate assets in the Consolidated Balance Sheets: (in thousands) December 31, 2023 December 31, 2022 Land $ 4,802,583 4,379,877 Land improvements 758,779 707,227 Buildings 6,371,894 5,465,877 Building and tenant improvements 1,302,954 1,171,650 Construction in progress 218,181 133,433 Total real estate assets $ 13,454,391 11,858,064 Capitalization and Depreciation Real estate assets are stated at cost, less accumulated depreciation, and amortization. The Company periodically assesses the useful lives of its depreciable real estate assets, including those intended to be redeveloped in the near term, and accounts for any revisions prospectively. Expenditures for maintenance, repairs and demolition costs are charged to operations as incurred. Significant renovations and replacements, which improve or extend the life of the asset, are capitalized. As part of the leasing process, the Company may provide lessees with allowances for the construction of leasehold improvements. These leasehold improvements are capitalized and recorded as tenant improvements and depreciated over the shorter of the useful life of the improvements or the remaining lease term. If the allowance represents a payment for a purpose other than funding leasehold improvements, or in the event the Company is not considered the owner of the improvements, the allowance is considered to be a lease incentive and is recognized over the lease term as a reduction of Lease income. Factors considered during this evaluation include, among other things, who holds legal title to the improvements as well as other controlling rights provided by the lease agreement and provisions for substantiation of such costs (e.g. unilateral control of the tenant space during the build-out process). Determination of the appropriate accounting for the payment of a tenant allowance is made on a lease-by-lease basis, considering the facts and circumstances of the individual tenant lease. Depreciation is computed using the straight-line method over estimated useful lives of approximately 15 years for land improvements, 40 years for buildings and improvements, and the shorter of the useful life or the remaining lease term. Development and Redevelopment Costs All specifically identifiable costs related to development and redevelopment activities are capitalized into Real estate assets in the accompanying Consolidated Balance Sheets, and are included in Construction in progress within the above table. The capitalized costs include pre-development costs essential to the development or redevelopment of the property, construction costs, interest costs, real estate taxes, insurance, legal costs, salaries and related costs of personnel directly involved and other costs incurred during the period of development or redevelopment. Pre-development costs represent the costs the Company incurs prior to land acquisition or pursuing a redevelopment including contract deposits, as well as legal, engineering, and other external professional fees related to evaluating the feasibility of developing or redeveloping a shopping center. As of December 31, 2023 and 2022, the Company had nonrefundable deposits and other pre-development costs of approximately $ 7.7 million and $ 6.9 million , respectively. If the Company determines that the development or redevelopment of a particular shopping center is no longer probable, any related pre-development costs previously capitalized are immediately expensed. During the years ended December 31, 2023, 2022, and 2021, the Company expensed pre-development costs of approximately $ 0.1 million , $ 0.6 million , and $ 1.5 million , respectively, in Other operating expenses in the accompanying Consolidated Statements of Operations. Interest costs are capitalized into each development and redevelopment project based upon applying the Company's weighted average borrowing rate to that portion of the actual development or redevelopment costs incurred. The Company disconti |
Real Estate Investments
Real Estate Investments | 12 Months Ended |
Dec. 31, 2023 | |
Real Estate [Abstract] | |
Real Estate Investments | 2. Real Estate Investments UBP Acquisition General With respect to the acquisition of UBP discussed in Note 1 - Acquisition of Urstadt Biddle Properties Inc, the following table provides the components that make up the total purchase price for the UBP acquisition: (in thousands, except stock price) Purchase Price Shares of common stock issued for acquisition 13,568 Closing stock price on August 17, 2023 $ 61.03 Value of common stock issued for acquisition $ 828,025 Other adjustments ( 9,495 ) Total value of common stock issued $ 818,530 Debt repaid 39,266 Preferred stock converted 225,000 Transaction costs 57,197 Other cash payments 68 Total purchase price $ 1,140,061 Purchase Price Allocation The acquisition has been accounted for using the asset acquisition method of accounting in accordance with ASC 805, Business Combinations, which requires, among other things, that the total cost or total consideration exchanged be allocated to the real estate properties and related lease intangibles on a relative fair value basis. All the other assets acquired, and liabilities assumed, including notes payable, are recorded at fair value. The total purchase price, including direct transaction costs capitalized, was allocated as follows: (in thousands) Purchase Price Allocation Real estate assets $ 1,379,835 Investments in unconsolidated real estate partnerships 35,942 Real estate assets 1,415,777 Cash, accounts receivable and other assets 51,902 Lease intangible assets 128,663 Total assets acquired 1,596,342 Notes payable 284,706 Accounts payable, accrued expenses, and other liabilities 37,500 Lease intangible liabilities 69,583 Total liabilities assumed 391,789 Non-controlling interest 64,492 Total purchase price $ 1,140,061 The acquired assets and assumed liabilities for an acquired operating property generally include, but are not limited to: land, buildings and improvements, identified tangible and intangible assets and liabilities associated with in-place leases, including tenant improvements, leasing costs, value of above-market and below-market leases, and value of acquired in-place leases. This methodology includes estimating an “as-if vacant” fair value of the physical property, which includes land, building, and improvements and also determines the estimated fair value of identifiable intangible assets and liabilities, considering the following categories: (i) value of in-place leases, and (ii) above and below-market value of in-place leases. The fair market value of the acquired operating properties is based on a valuation prepared by Regency with assistance of a third party valuation specialist. The third-party specialist utilized stabilized NOI and market specific capitalization rates as the primary valuation inputs in determining the fair value of the real estate assets. The fair value of land is generally based on relevant market data, such as a comparison of the subject site to similar parcels that have recently been sold or are currently being offered on the market for sale. Management reviews the inputs used by the third-party specialist as well as the allocation of the purchase price to ensure reasonableness and that the procedures are performed in accordance with management's policy. Management and the third-party valuation specialist prepared their fair value estimates for each of the operating properties acquired. The allocation of the purchase price described above requires a significant amount of judgment and represents management's best estimate of the fair value as of the acquisition date. The following table details the weighted average amortization and net accretion periods, in years, of the major classes of intangible assets and intangible liabilities arising from the UBP acquisition: (in years) Weighted Average Amortization Period Assets: In-place leases 8.0 Above-market leases 7.0 Liabilities: Below-market leases 18.5 Other Acquisitions The following tables detail the other properties acquired for the periods set forth below: (in thousands) December 31, 2023 Date Property Name City/State Property Regency Ownership Purchase (1) Debt (1) Intangible (1) Intangible (1) 5/1/2023 Sienna Phase 1 Houston, TX Development 75 % $ 2,695 — — — 5/18/2023 SunVet Holbrook, NY Development 100 % 24,140 — — — 10/11/2023 Nohl Plaza Orange, CA Operating 100 % 25,328 — 3,940 10,470 12/1/2023 The Longmeadow Shops Longmeadow, MA Operating 100 % 31,400 — 4,049 1,876 Total property acquisitions $ 83,563 — 7,989 12,346 (1) Amounts for purchase price and allocation are reflected at 100 %. (in thousands) December 31, 2022 Date Property Name City/State Property Regency Ownership Purchase (1) Debt (1) Intangible (1) Intangible (1) 3/1/2022 Glenwood Green Old Bridge, NJ Development 70 % $ 11,000 — — — 3/31/2022 Island Village Bainbridge Island, WA Operating 100 % 30,650 — 2,900 6,839 4/1/2022 Apple Valley (2) Apple Valley, MN Operating 100 % 34,070 — 4,773 490 4/1/2022 Cedar Commons (2) Minneapolis, MN Operating 100 % 29,330 — 4,369 58 4/1/2022 Corral Hollow (2) Tracy, CA Operating 100 % 40,600 — 3,410 74 4/1/2022 Shops at the Columbia (2) Washington, DC Operating 100 % 14,000 — 889 181 5/6/2022 Baederwood Shoppes Jenkintown, PA Operating 80 % 51,603 22,779 5,796 1,062 10/12/2022 East Meadow Plaza East Meadow, NY Operating 100 % 30,000 — 3,295 10,867 Total property acquisitions $ 241,253 22,779 25,432 19,571 (1) Amounts for purchase price and allocation are reflected at 100 %. (2) These properties were part of the four property portfolio purchased from an existing unconsolidated real partnership, RegCal, LLC, in which the Company held a 25 % ownership interest. The basis allocated to Real estate assets was $ 93.2 million on a combined basis, including the Company's carry over basis related to its 25 % previously owned equity investment in the partnership. In addition to the acquisitions listed above, the Company acquired, for $ 9.0 million, the remaining 50 % ownership interest from its partner in Kroger New Albany Center, an existing consolidated property. |
Property Dispositions
Property Dispositions | 12 Months Ended |
Dec. 31, 2023 | |
Discontinued Operations and Disposal Groups [Abstract] | |
Property Dispositions | 3. Property Dispositions The following table provides a summary of consolidated shopping centers and land parcels sold during the periods set forth below: Year ended December 31, (in thousands, except number sold data) 2023 2022 2021 Net proceeds from sale of real estate investments $ 11,167 143,133 206,193 Gain on sale of real estate, net of tax $ 661 109,005 91,119 Provision for impairment of real estate sold $ — — 112 Number of operating properties sold — 2 7 Number of land parcels sold 5 5 5 Percent interest sold 100 % 100 % 100 % |
Investments in Real Estate Part
Investments in Real Estate Partnerships | 12 Months Ended |
Dec. 31, 2023 | |
Equity Method Investments and Joint Ventures [Abstract] | |
Investments in Real Estate Partnerships | 4. Investments in Real Estate Partnerships The Company invests in real estate partnerships, which consist of the following: December 31, 2023 (in thousands) Regency's Ownership Number of Properties Total Investment Total Assets of the Partnership The Company's Share of Net Income of the Partnership Net Income of the Partnership GRI - Regency, LLC (GRIR) 40.00 % 66 $ 144,371 1,475,611 35,901 84,224 Columbia Regency Retail Partners, LLC (Columbia I) 20.00 % 7 7,045 139,224 1,630 8,559 Columbia Regency Partners II, LLC (Columbia II) 20.00 % 14 42,994 424,672 1,743 8,769 Columbia Village District, LLC 30.00 % 1 6,123 97,522 2,199 7,383 Individual Investors Ballard Bocks 49.90 % 2 62,140 120,379 1,486 3,297 Town & Country Center 35.00 % 1 42,074 224,579 1,075 3,136 Others (1) 11.80 % - 66.67 % 10 65,858 208,006 6,507 19,770 Total investments in real estate partnerships 101 $ 370,605 2,689,993 50,541 135,138 (1) New York Common Retirement Fund (NYC) and RegCal, LLC (RegCal) no longer have any operating properties and any residual balances have been included in Others as of December 31, 2023. The residual balances are primarily made up of the Company’s share of remaining working capital. December 31, 2022 (in thousands) Regency's Ownership Number of Properties Total Investment Total Assets of the Partnership The Company's Share of Net Income of the Partnership Net Income of the Partnership GRI - Regency, LLC (GRIR) 40.00 % 66 $ 155,302 1,501,876 35,819 83,989 New York Common Retirement Fund (NYC) (1) 30.00 % — 674 2,468 9,173 35,673 Columbia Regency Retail Partners, LLC (Columbia I) 20.00 % 7 7,423 138,493 1,817 9,392 Columbia Regency Partners II, LLC (Columbia II) 20.00 % 13 41,757 405,927 1,735 8,674 Columbia Village District, LLC 30.00 % 1 5,836 96,002 1,669 5,597 RegCal, LLC (RegCal) (2) 25.00 % 1 5,789 24,326 4,499 18,258 Individual Investors Ballard Bocks 49.90 % 2 62,624 126,482 1,300 2,925 Town & Country Center 35.00 % 1 40,409 206,931 819 2,404 Others 50.00 % 5 30,563 105,500 2,993 6,254 Total investments in real estate partnerships 96 $ 350,377 2,608,005 59,824 173,166 (1) On May 25, 2022, the NYC partnership sold the remaining two properties and distributed sales proceeds to the members. Dissolution will follow final distributions, which are expected in 2024. (2) During April 2022, we acquired our partner's 75 % share in four properties held in the RegCal, LLC, partnership for a total purchase price of $ 88.5 million. Upon acquisition, these four properties were consolidated into Regency's financial statements. The summarized balance sheet information for the investments in real estate partnerships, on a combined basis, is as follows: December 31, (in thousands) 2023 2022 Investments in real estate, net $ 2,432,859 2,359,289 Acquired lease intangible assets, net 16,723 16,821 Other assets 240,411 231,895 Total assets $ 2,689,993 2,608,005 Notes payable $ 1,499,702 1,398,297 Acquired lease intangible liabilities, net 15,112 17,619 Other liabilities 80,457 81,714 Capital - Regency 418,205 412,784 Capital - Third parties 676,517 697,591 Total liabilities and capital $ 2,689,993 2,608,005 The following table reconciles the Company's capital recorded by the unconsolidated partnerships to the Company's investments in real estate partnerships reported in the accompanying Consolidated Balance Sheet: December 31, (in thousands) 2023 2022 Capital - Regency $ 418,205 412,784 Basis difference ( 47,600 ) ( 62,407 ) Investments in real estate partnerships $ 370,605 350,377 The revenues and expenses for the investments in real estate partnerships, on a combined basis, are summarized as follows: Year ended December 31, (in thousands) 2023 2022 2021 Total revenues $ 390,843 378,096 416,222 Operating expenses: Depreciation and amortization 88,974 86,193 94,026 Property operating expense 65,509 61,224 66,061 Real estate taxes 47,529 42,010 54,618 General and administrative 5,008 5,615 5,837 Other operating expenses 3,119 3,851 3,624 Total operating expenses $ 210,139 198,893 224,166 Other expense (income): Interest expense, net 56,706 54,874 58,109 Gain on sale of real estate ( 11,140 ) ( 49,424 ) ( 75,162 ) Early extinguishment of debt — 587 — Provision for impairment — — 9,833 Total other expense (income) 45,566 6,037 ( 7,220 ) Net income of the Partnerships $ 135,138 173,166 199,276 The Company's share of net income of the Partnerships $ 50,541 59,824 47,086 Acquisitions The following table provides a summary of shopping centers and land parcels acquired through our unconsolidated real estate partnerships for the periods set forth below: (in thousands) Year ended December 31, 2023 Date Property City/State Property Real Estate Partner Ownership Purchase Price (1) Debt Assumed, Net of Premiums (1) Intangible Assets (1) Intangible Liabilities (1) 9/19/2023 Old Town Square Chicago, IL Operating Other 20 % 27,510 — 3,625 503 Total property acquisitions $ 27,510 — 3,625 503 (1) Amounts reflected for purchase price and allocation are reflected at 100 %. (in thousands) Year ended December 31, 2022 Date Property City/State Property Real Estate Partner Ownership Purchase Price (1) Debt Assumed, Net of Premiums (1) Intangible Assets (1) Intangible Liabilities (1) 03/25/22 Naperville Plaza Naperville, IL Operating Columbia II 20.00 % $ 52,380 22,074 4,336 814 06/24/22 Baybrook East 1B Houston, TX Development Other 50.00 % $ 5,540 — — — Total property acquisitions $ 57,920 22,074 4,336 814 (1) Amounts reflected for purchase price and allocation are reflected at 100 %. Dispositions The following table provides a summary of shopping centers and land parcels disposed of through our unconsolidated real estate partnerships: Year ended December 31, (in thousands) 2023 2022 2021 Proceeds from sale of real estate investments $ 30,659 116,377 224,708 Gain on sale of real estate $ 11,140 49,424 75,162 The Company's share of gain on sale of real estate $ 3,161 12,748 9,380 Number of operating properties sold 1 4 4 Number of land out-parcels sold — — 1 Notes Payable Scheduled principal repayments on notes payable held by our unconsolidated investments in real estate partnerships as of December 31, 2023, were as follows: (in thousands) Scheduled Mortgage Unsecured Total Regency's 2024 $ 3,718 33,690 — 37,408 14,678 2025 6,094 147,222 — 153,316 48,506 2026 7,393 233,147 41,800 282,340 89,520 2027 7,576 32,800 — 40,376 13,669 2028 4,267 246,605 — 250,872 92,027 Beyond 5 Years 6,688 739,324 — 746,012 280,328 Net unamortized loan costs, debt premium / (discount) — ( 10,622 ) — ( 10,622 ) ( 3,872 ) Total notes payable $ 35,736 1,422,166 41,800 1,499,702 534,856 These fixed and variable rate notes payable are all non-recourse to the partnerships, and mature through 2034 , with 95.4 % having a weighted average fixed interest rate of 3.8 % . The remaining notes payable float with SOFR and had a weighted average variable interest rate of 7.2 % at December 31, 2023. As notes payable mature, they will be repaid from proceeds from new borrowings and/or partner capital contributions. Refinancing debt at maturity in the current interest rate environment could result in higher interest expense in future periods if rates remain elevated. The Company is obligated to contribute its Pro-rata share to fund maturities if the loans are not refinanced, and it has the capacity to do so from existing cash balances, availability on its line of credit, and operating cash flows. The Company believes that its partners are financially sound and have sufficient capital or access thereto to fund future capital requirements. In the event that a real estate partner was unable to fund its share of the capital requirements of the real estate partnership, the Company would have the right, but not the obligation, to loan the defaulting partner the amount of its capital call which would be secured by the partner's membership interest. Management fee income In addition to earning our Pro-rata share of net income or loss in each of these real estate partnerships, we receive fees as discussed in Note 1, as follows: Year ended December 31, (in thousands) 2023 2022 2021 Asset management, property management, leasing, and investment and financing services $ 26,954 25,851 40,301 (1) (1) In connection with the USAA partnership, we received and recognized a one-time promote fee of $ 13.6 million during the year ended December 31, 2021, in consideration for exceeding return thresholds resulting from our performance as managing member. |
Other Assets
Other Assets | 12 Months Ended |
Dec. 31, 2023 | |
Other Assets [Abstract] | |
Other Assets | 5. Other Assets The following table represents the components of Other assets in the accompanying Consolidated Balance Sheets as of the periods set forth below: (in thousands) December 31, 2023 December 31, 2022 Goodwill $ 167,062 167,062 Investments 51,992 54,581 Prepaid and other 40,635 28,615 Derivative assets 14,213 6,575 Furniture, fixtures, and equipment, net 6,662 5,808 Deferred financing costs, net 2,865 5,156 Total other assets $ 283,429 267,797 The following table presents the goodwill balances and activity during the year to date periods ended: December 31, 2023 December 31, 2022 (in thousands) Goodwill Accumulated Total Goodwill Accumulated Total Beginning of year balance $ 300,496 ( 133,434 ) 167,062 $ 300,529 ( 133,434 ) 167,095 Goodwill allocated to Properties held for sale ( 5,972 ) 5,972 — — — — Goodwill associated with disposed reporting units: Goodwill allocated to Gain on sale of real estate — — — ( 33 ) — ( 33 ) End of year balance $ 294,524 ( 127,462 ) 167,062 $ 300,496 ( 133,434 ) 167,062 As the Company identifies properties ("reporting units") that no longer meet its investment criteria, it will evaluate the property for potential sale. A decision to sell a reporting unit results in the need to evaluate its goodwill for recoverability and may result in impairment. Additionally, other changes impacting a reporting unit may be considered a triggering event. If events occur that trigger an impairment evaluation at multiple reporting units, a goodwill impairment may be significant. |
Acquired Lease Intangibles
Acquired Lease Intangibles | 12 Months Ended |
Dec. 31, 2023 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Acquired Lease Intangible | 6. Acquired Lease Intangibles The Company had the following acquired lease intangibles as of the periods set forth below: December 31, (in thousands) 2023 2022 In-place leases $ 543,892 452,868 Above-market leases 103,896 82,930 Total intangible assets 647,788 535,798 Accumulated amortization ( 364,413 ) ( 338,053 ) Acquired lease intangible assets, net $ 283,375 197,745 Below-market leases 609,369 547,519 Accumulated amortization ( 211,067 ) ( 193,315 ) Acquired lease intangible liabilities, net $ 398,302 354,204 The following table provides a summary of amortization and net accretion amounts from acquired lease intangibles: Year ended December 31, (in thousands) 2023 2022 2021 Line item in Consolidated Statements of Operations In-place lease amortization $ 44,102 34,568 33,621 Depreciation and amortization Above-market lease amortization 6,571 5,828 5,487 Lease income Acquired lease intangible asset amortization $ 50,673 40,396 39,108 Below-market lease amortization $ 37,831 28,642 30,378 Lease income The estimated aggregate amortization and net accretion amounts from acquired lease intangibles for the next five years are as follows: (in thousands) In Process Year Ending Amortization of Net accretion of Above 2024 $ 45,098 22,598 2025 33,012 21,953 2026 26,791 21,216 2027 21,185 20,207 2028 16,764 20,065 |
Leases
Leases | 12 Months Ended |
Dec. 31, 2023 | |
Leases [Abstract] | |
Leases | 7. Leases Lessor Accounting Substantially all of the Company's leases are classified as operating leases. The Company's Lease income is comprised of both fixed and variable income. Fixed and in-substance fixed lease income includes stated amounts per lease contracts, which are primarily related to base rent, and in some cases stated amounts for CAM, real estate taxes, and insurance ("Recoverable Costs"). Income for these amounts is recognized on a straight-line basis. Variable lease income includes the following two main items in the lease contracts: (i) Recoveries from tenants represent the tenants' contractual obligations to reimburse the Company for their portion of recoverable costs incurred. Generally, the Company's leases provide for the tenants to reimburse the Company based on the tenants' share of the actual costs incurred in proportion to the tenants' share of leased space in the property. (ii) Percentage rent represents amounts billable to tenants based on the tenants' actual sales volume in excess of levels specified in the lease contract. The following table provides a disaggregation of lease income recognized as either fixed or variable lease income based on the criteria specified in Topic 842: (in thousands) December 31, 2023 December 31, 2022 December 31, 2021 Operating lease income Fixed and in-substance fixed lease income $ 928,364 851,409 797,502 Variable lease income 324,037 287,149 262,619 Other lease related income, net: Above/below market rent and tenant rent inducement amortization, net 30,826 22,543 24,539 Uncollectible straight-line rent 1,261 12,510 5,227 Uncollectible amounts billable in lease income ( 549 ) 13,841 23,481 Total lease income $ 1,283,939 1,187,452 1,113,368 Future minimum rents under non-cancelable operating leases, excluding variable lease payments, are as follows: (in thousands) For the year ended December 31, December 31, 2023 2024 $ 972,980 2025 872,330 2026 757,633 2027 633,290 2028 480,640 Thereafter 1,740,783 Total $ 5,457,656 At December 31, 2023, the Company had one lease classified as a sales-type lease, with lease income recorded over the lease term in the form of variable interest income representing the constant periodic rate of return on the Company’s net investment in the lease, and fixed contractual obligations. Lessee Accounting The Company has shopping centers that are subject to non-cancelable, long-term ground leases where a third party owns the underlying land and has leased the land to the Company to construct and/or operate a shopping center. The Company has 21 properties within its consolidated real estate portfolio that are either partially or completely on land subject to ground leases with third parties. Accordingly, the Company owns only a long-term leasehold or similar interest in these properties. These ground leases expire through the year 2121 , and in most cases, provide for renewal options. In addition, the Company has non-cancelable operating leases pertaining to office space from which it conducts its business. Office leases expire through the year 2029 , and in many cases, provide for renewal options. The ground and office lease expenses are recognized on a straight-line basis over the term of the leases, including management's estimate of expected optional renewal periods, with ground lease expense presented within Property operating expense, and office lease expense presented within General and administrative in the accompanying Consolidated Statements of Operations. Operating lease expense under the Company's ground and office leases were as follows, including straight-line rent expense and variable lease expenses such as CPI increases, percentage rent and reimbursements of landlord costs: (in thousands) December 31, 2023 December 31, 2022 December 31, 2021 Fixed operating lease expense Ground leases $ 14,727 13,759 13,862 Office leases 4,103 4,162 4,309 Total fixed operating lease expense 18,830 17,921 18,171 Variable lease expense Ground leases 1,586 1,591 1,032 Office leases 729 611 615 Total variable lease expense 2,315 2,202 1,647 Total lease expense $ 21,145 20,123 19,818 Cash paid for amounts included in the measurement of operating lease liabilities Operating cash flows for operating leases $ 15,823 14,656 15,165 The following table summarizes the undiscounted future cash flows by year attributable to the operating lease liabilities for ground and office leases as of December 31, 2023, and provides a reconciliation to the Lease liability included in the accompanying Consolidated Balance Sheets: (in thousands) Lease Liabilities For the year ended December 31, Ground Leases Office Leases Total 2024 $ 12,955 3,082 16,037 2025 12,962 3,464 16,426 2026 12,883 3,331 16,214 2027 12,909 2,151 15,060 2028 13,051 1,305 14,356 Thereafter 702,602 312 702,914 Total undiscounted lease liabilities $ 767,362 13,645 781,007 Present value discount ( 533,777 ) ( 1,167 ) ( 534,944 ) Lease liabilities $ 233,585 12,478 246,063 Weighted average discount rate 5.5 % 3.7 % Weighted average remaining term (in years) 49.4 4.1 |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2023 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | 8. Income Taxes The Company has elected to be taxed as a REIT under the applicable provisions of the Internal Revenue Code with certain of its subsidiaries treated as taxable REIT subsidiary entities, which are subject to federal and state income taxes. The following table summarizes the tax status of dividends paid on our common stock: Year ended December 31, 2023 2022 2021 Dividend per share $ 2.56 (1) 2.53 (2) 2.53 (3) Ordinary income 100 % 100 % 92 % Capital gain (4) — % — % 8 % Additional tax status information: Qualified dividend income — % — % 1 % Section 199A dividend 100 % 100 % 91 % Section 897 ordinary dividends — % — % 2 % Section 897 capital gains — % — % 4 % (1) During 2023, the Company declared four quarterly dividends, the last of which was paid on January 3, 2024, with a portion allocated to the 2023 dividend period, and the balance allocated to 2024. (2) During 2022, the Company declared four quarterly dividends, the last of which was paid on January 4, 2023, with a portion allocated to the 2022 dividend period, and the balance allocated to 2023. (3) During 2021, the Company declared four quarterly dividends, the last of which was paid on January 5, 2022, with a portion allocated to the 2021 dividend period, and the balance allocated to 2022. (4) Of the total capital gain distribution during 2021, 42 % is excluded under Reg. 1.1061-4(b)(7). The remaining 58 % is a Three Year Amount under Reg. 1.1061-6(c). The following table summarizes the tax status of dividends paid on our Series A preferred stock: Year ended December 31, 2023 Dividend per share $ 0.39 Ordinary income 100 % Capital gain — % Additional tax status information: Qualified dividend income — % Section 199A dividend 100 % Section 897 ordinary dividends — % Section 897 capital gains — % The following table summarizes the tax status of dividends paid on our Series B preferred stock: Year ended December 31, 2023 Dividend per share $ 0.37 Ordinary income 100 % Capital gain — % Additional tax status information: Qualified dividend income — % Section 199A dividend 100 % Section 897 ordinary dividends — % Section 897 capital gains — % Our consolidated expense (benefit) for income taxes for the years ended December 31, 2023, 2022, and 2021 was as follows: Year ended December 31, (in thousands) 2023 2022 2021 Income tax expense (benefit): Current $ 796 ( 332 ) 620 Deferred 99 293 421 Total income tax expense (benefit) (1) $ 895 ( 39 ) 1,041 (1) Included within Other operating expenses in the Consolidated Statements of Operations. The TRS entities are subject to federal and state income taxes and file separate tax returns. Income tax expense (benefit) differed from the amounts computed by applying the U.S. Federal income tax rate to pretax income of the TRS entities, as follows: Year ended December 31, (in thousands) 2023 2022 2021 Computed expected tax expense (benefit) $ 371 504 544 State income tax, net of federal benefit 60 52 477 Valuation allowance 227 ( 323 ) 15 Permanent items 2 1 1 All other items 235 ( 273 ) 4 Total income tax expense (1) 895 ( 39 ) 1,041 Income tax expense attributable to operations (1) $ 895 ( 39 ) 1,041 (1) Included within Other operating expenses in the Consolidated Statements of Operations. The tax effects of temporary differences (included in Accounts payable and other liabilities in the accompanying Consolidated Balance Sheets) are summarized as follows: December 31, (in thousands) 2023 2022 Deferred tax assets Other 1,893 1,007 Deferred tax assets 1,893 1,007 Valuation allowance ( 1,893 ) ( 1,007 ) Deferred tax assets, net $ — — Deferred tax liabilities Fixed assets ( 12,563 ) ( 12,527 ) Other ( 780 ) ( 61 ) Deferred tax liabilities ( 13,343 ) ( 12,588 ) Net deferred tax liabilities $ ( 13,343 ) ( 12,588 ) The Company believes it is more likely than not that the remaining deferred tax assets will not be realized unless tax planning strategies are implemented. |
Notes Payable and Unsecured Cre
Notes Payable and Unsecured Credit Facility | 12 Months Ended |
Dec. 31, 2023 | |
Debt Disclosure [Abstract] | |
Notes Payable and Unsecured Credit Facility | 9. Notes Payable and Unsecured Credit Facility The Company's outstanding debt, net of unamortized debt premium (discount) and debt issuance costs, consisted of the following as of the dates set forth below: Maturing Weighted Weighted December 31, (in thousands) 2023 2022 Notes payable: Fixed rate mortgage loans 6/1/2037 3.8 % 4.2 % $ 449,615 342,135 Variable rate mortgage loans (1) 1/31/2032 4.2 % 4.3 % 299,579 136,246 Fixed rate unsecured debt 3/15/2049 3.8 % 4.0 % 3,252,755 3,248,373 Total notes payable 4,001,949 3,726,754 Unsecured credit facilities: $ 1.25 Billion Line of Credit (the "Line") (2) 3/23/2025 6.3 % 6.6 % 152,000 — Total unsecured credit facilities 152,000 — Total debt outstanding $ 4,153,949 3,726,754 (1) As of December 31, 2023, 15 of these 17 variable rate loans, representing $ 294.9 million of debt in the aggregate, have interest rate swaps in place to mitigate interest rate fluctuation risk. Based on these swap agreements, the effective fixed rates of the 15 loans range from 2.5 % to 6.7 % . (2) Weighted average effective rate for the Line is calculated based on a fully drawn Line balance using the period end variable rate. In January 2024, the Company amended its Line to, among other items, increase the borrowing capacity to $ 1.5 billion and to extend the expiration date to March, 2028 with the option to extend the expiration for two additional six-month period . Notes Payable Notes payable consist of mortgage loans secured by properties and unsecured public and private debt. Mortgage loans may be repaid before maturity, but could be subject to yield maintenance premiums, and are generally due in monthly installments of principal and interest or interest only. Unsecured public debt may be repaid before maturity subject to accrued and unpaid interest through the proposed redemption date and a make-whole premium. Interest on unsecured public and private debt is payable semi-annually. The Company is required to comply with certain financial covenants for its unsecured public debt as defined in the indenture agreements such as the following ratios: Consolidated Debt to Consolidated Assets, Consolidated Secured Debt to Consolidated Assets, Consolidated Income for Debt Service to Consolidated Debt Service, and Unencumbered Consolidated Assets to Unsecured Consolidated Debt. As of December 31, 2023, management of the Company believes it is in compliance with all financial covenants for its unsecured public debt. Unsecured Credit Facilities The Company has an unsecured line of credit commitment (the "Line") with a syndicate of banks. At December 31, 2023 , the Line had a borrowing capacity of $ 1.25 billion, which is reduced by the balance of outstanding borrowings and commitments from issued letters of credit. The Line bears interest at a variable rate of SOFR plu s a 0.10% market adjustment and an applicable margin of 0.865% , and is subject to a commitment fee of 0.15 %. Both the applicable margin and the commitment fee are based on the Company's corporate credit rating. The Company is required to comply with certain financial covenants as defined in the Line credit agreement, such as Ratio of Indebtedness to Total Asset Value ("TAV"), Ratio of Unsecured Indebtedness to Unencumbered Asset Value, Ratio of Adjusted EBITDA to Fixed Charges, Ratio of Secured Indebtedness to TAV, Ratio of Unencumbered Net Operating Income to Unsecured Interest Expense, and other covenants customary with this type of unsecured financing. As of December 31, 2023, the Company is in compliance with all financial covenants for the Line. On January 8, 2024, the Company priced a public offering of $ 400 million of senior unsecured debt due in 2034, and were issued at 99.617 % of par value with a coupon of 5.250 %. On January 18, 2024, the Company entered into a Sixth Amended and Restated Credit Agreement (the "Credit Agreement"), with the financial institutions party thereto, as Lenders, and Wells Fargo Bank, National Association, as Administrative Agent. The Credit Agreement provides for an unsecured revolving credit facility in the amount of $ 1.50 billion for a term of four years (plus two six-month extension options ) and includes an accordion feature which permits the borrower to request increases in the size of the revolving loan facility by up to an additional $ 1.50 billion. The interest rate on the revolving credit facility is equal to the Secured Overnight Financing Rate ("SOFR") plus a margin that is determined based on the borrower’s long-term unsecured debt ratings and ratio of indebtedness to total asset value. At the time of the closing, the effective interest rate was SOFR plus a credit spread adjustment of 10 basis points plus a margin of 72.5 basis points. The Credit Agreement also incorporates sustainability-linked adjustments to the interest rate, which provide for upward or downward adjustments to the applicable margin if the Company achieves, or fails to achieve, certain specified targets based on Scope 1 and Scope 2 emission standards as set forth in the Credit Agreement. At the time of the closing, a 1 basis point downward sustainability-linked adjustment to the interest rate was applicable. The maturity date of the Credit Agreement is March 23, 2028 with the option to extend the expiration for two additional six month periods . Scheduled principal payments and maturities on notes payable and unsecured credit facilities were as follows: (in thousands) December 31, 2023 Scheduled Principal Payments and Maturities by Year: Scheduled Mortgage Unsecured (1) Total 2024 $ 12,398 133,580 250,000 395,978 2025 11,094 52,537 402,000 465,631 2026 11,426 147,847 200,000 359,273 2027 8,612 222,558 525,000 756,170 2028 7,011 36,570 300,000 343,581 Beyond 5 Years 8,070 106,130 1,750,000 1,864,200 Unamortized debt premium/(discount) and issuance costs — ( 8,640 ) ( 22,244 ) ( 30,884 ) Total $ 58,611 690,582 3,404,756 4,153,949 (1) Includes unsecured public and private debt and unsecured credit facilities . In connection with the acquisition of UBP on August 18, 2023, the Company completed the following debt transactions: • Assumed fixed rate debt of $ 130.0 million in the aggregate (including a mark to market debt discount of $ 13.6 million) that, on a property-by-property basis, encumbers 11 operating properties, and includes one unsecured note. This indebtedness has scheduled maturity dates ranging from August 2024 to June 2037 , and accrues interest at rates ranging from 3.5 % to 5.6 % per annum. • Assumed variable rate debt of $ 154.7 million in the aggregate (including a mark to market debt premium of $ 1.1 million) that collectively encumbers 9 operating properties. This indebtedness has interest rate swaps in place to mitigate rate fluctuation risk. Based on these swap agreements, the effective fixed rates range from 3.1 % to 4.8 % per annum. The scheduled maturity dates range from August 2024 to January 2032 . The Company was in compliance as of December 31, 2023, with all financial and other covenants under its unsecured public and private placement debt and unsecured credit facilities. |
Derivative Financial Instrument
Derivative Financial Instruments | 12 Months Ended |
Dec. 31, 2023 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative Instruments | 10. Derivative Instruments The Company may use derivative financial instruments, including interest rate swaps, caps, options, floors, and other interest rate derivative contracts, to hedge all or a portion of the interest rate risk associated with its borrowings. The principal objective of such arrangements is to minimize the risks and/or costs associated with the Company's operating and financial structure as well as to hedge specific anticipated transactions. The Company does not intend to utilize derivatives for speculative transactions or purposes other than mitigation of interest rate risk. The use of derivative financial instruments carries certain risks, including the risk that the counterparties to these contractual arrangements are not able to perform under the agreements. To mitigate this risk, the Company only enters into derivative financial instruments with counterparties with quality credit ratings. The Company does not anticipate that any of the counterparties will fail to meet their obligations. The Company's objectives in using interest rate derivatives are to attempt to stabilize interest expense where possible and to manage its exposure to interest rate movements. To accomplish this objective, the Company primarily uses interest rate swaps as part of its interest rate risk management strategy. Interest rate swaps designated as cash flow hedges involve the receipt of variable-rate amounts from a counterparty in exchange for the Company making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. The following table summarizes the terms and fair values of the Company's derivative financial instruments, as well as their classification on the Consolidated Balance Sheets: Fair Value at December 31, (in thousands) Assets (Liabilities) (1) Effective Maturity Notional Bank Pays Variable Regency Pays 2023 2022 12/1/22 3/17/25 24,000 SOFR 1.443 % 873 1,443 12/16/22 6/2/27 34,873 SOFR 2.261 % 1,540 2,158 1/17/23 (2) 8/15/24 13,033 SOFR 3.995 % 196 - 7/17/17 (2) 7/1/27 43,150 SOFR 1.498 % 3,041 - 9/21/16 (2) 10/1/26 8,768 SOFR 1.475 % 526 - 8/16/18 (2) 8/15/28 8,764 SOFR 4.830 % 214 - 3/18/19 (2) 4/1/29 23,078 SOFR 3.165 % 473 - 2/1/2 2 (2) 2/1/32 33,667 SOFR 3.053 % 4,879 - 1/3/23 (2) 7/1/29 10,944 SOFR 3.633 % 861 - 1/3/23 (2) 11/1/24 5,000 SOFR 3.705 % 106 - 2/24/23 12/31/26 15,342 SOFR 4.229 % ( 212 ) 152 2/21/23 12/21/26 24,365 SOFR 1.684 % 1,386 1,939 9/19/23 9/19/28 30,919 SOFR 4.314 % ( 1,008 ) 883 10/31/17 (2) 10/1/24 6,025 SOFR 2.334 % 118 - 12/1/23 12/1/26 13,000 SOFR 4.060 % ( 115 ) - Total derivative financial instruments $ 12,878 6,575 (1) Derivatives in an asset position are included within Other assets in the accompanying Consolidated Balance Sheets, while those in a liability position are included within Accounts payable and other liabilities. (2) Derivative instruments assumed as part of the UBP acquisitions. These derivative financial instruments are all interest rate swaps, which are designated and qualify as cash flow hedges. The Company does not use derivatives for trading or speculative purposes and, as of December 31, 2023, does not have any derivatives that are not designated as hedges. The changes in the fair value of derivatives designated and qualifying as cash flow hedges are recorded in Accumulated other comprehensive income ("AOCI") and subsequently reclassified into earnings in the period that the hedged forecasted transaction affects earnings. The following table represents the effect of the derivative financial instruments on the accompanying Consolidated Financial Statements: Location and Amount of Gain (Loss) Location and Amount of Loss (Gain) Total amounts presented in the Consolidated Year ended December 31, Year ended December 31, Year ended December 31, (in thousands) 2023 2022 2021 2023 2022 2021 2023 2022 2021 Interest $ ( 2,448 ) 20,061 5,391 Interest $ ( 7,536 ) 833 4,141 Interest $ 154,249 146,186 145,170 Early extinguishment of debt $ ( 99 ) — — As of December 31, 2023, the Company expects approximately $ 10.6 million of accumulated comprehensive income on derivative instruments in AOCI, including the Company's share from its Investments in real estate partnerships, to be reclassified into earnings during the next 12 months. |
Fair Value Measurements
Fair Value Measurements | 12 Months Ended |
Dec. 31, 2023 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | 11. Fair Value Measurements (a) Disclosure of Fair Value of Financial Instruments All financial instruments of the Company are reflected in the accompanying Consolidated Balance Sheets at amounts which, in management's estimation, reasonably approximate their fair values, except for the following: December 31, 2023 2022 (in thousands) Carrying Fair Value Carrying Fair Value Financial assets: Notes receivable $ 2,109 2,109 $ — — Financial liabilities: Notes payable, net $ 4,001,949 3,763,152 $ 3,726,754 3,333,378 Unsecured credit facilities $ 152,000 152,000 $ — — The above fair values represent management's estimate of the amounts that would be received from selling those assets or that would be paid to transfer those liabilities in an orderly transaction between market participants as of December 31, 2023 and 2022, respectively. These fair value measurements maximize the use of observable inputs which are classified within Level 2 of the fair value hierarchy. However, in situations where there is little, if any, market activity for the asset or liability at the measurement date, the fair value measurement reflects the Company's own judgments about the assumptions that market participants would use in pricing the asset or liability. The Company develops its judgments based on the best information available at the measurement date, including expected cash flows, appropriate risk-adjusted discount rates, and available observable and unobservable inputs. Service providers involved in fair value measurements are evaluated for competency and qualifications on an ongoing basis. As considerable judgment is often necessary to estimate the fair value of these financial instruments, the fair values presented above are not necessarily indicative of amounts that will be realized upon disposition of the financial instruments. (b) Fair Value Measurements The following financial instruments are measured at fair value on a recurring basis: Securities The Company has investments in marketable securities that are included within Other assets on the accompanying Consolidated Balance Sheets. The fair value of the securities was determined using quoted prices in active markets, which are considered Level 1 inputs of the fair value hierarchy. Changes in the value of securities are recorded within Net investment (income) loss in the accompanying Consolidated Statements of Operations, and include unrealized gains of $ 4.2 million for the year ended December 31, 2023, unrealized losses of $ 8.0 million for the year ended December 31, 2022 and unrealized gains of $ 1.7 million for the year ended December 31, 2021. Available-for-Sale Debt Securities Available-for-sale debt securities consist of investments in certificates of deposit and corporate bonds, and are recorded at fair value using either recent trade prices for the identical debt instrument or comparable instruments by issuers of similar industry sector, issuer rating, and size, to estimate fair value, which are considered Level 2 inputs of the fair value hierarchy. Unrealized gains or losses on these debt securities are recognized through Other comprehensive income. Interest Rate Derivatives The fair value of the Company's interest rate derivatives is determined using widely accepted valuation techniques including discounted cash flow analysis on the expected cash flows of each derivative. This analysis reflects the contractual terms of the derivatives, including the period to maturity, and uses observable market-based inputs, including interest rate curves and implied volatilities. The Company incorporates credit valuation adjustments to appropriately reflect both its own nonperformance risk and the respective counterparty's nonperformance risk in the fair value measurements. Although the Company has determined that the majority of the inputs used to value its derivatives fall within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with its derivatives utilize Level 3 inputs, such as estimates of current credit spreads, to evaluate the likelihood of default by the Company and its counterparties. The Company has assessed the significance of the impact of the credit valuation adjustments on the overall valuation of its derivative positions and has determined that the credit valuation adjustments are not significant to the overall valuation of its interest rate swaps. As a result, the Company determined that its interest rate swaps valuation in its entirety is classified in Level 2 of the fair value hierarchy. The following tables present the placement in the fair value hierarchy of assets and liabilities that are measured at fair value on a recurring basis: Fair Value Measurements as of December 31, 2023 (in thousands) Balance Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Assets: Securities $ 37,039 37,039 — — Available-for-sale debt securities 14,953 — 14,953 — Interest rate derivatives 14,213 — 14,213 — Total $ 66,205 37,039 29,166 — Liabilities: Interest rate derivatives $ ( 1,335 ) — ( 1,335 ) — Fair Value Measurements as of December 31, 2022 (in thousands) Balance Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Assets: Securities $ 40,089 40,089 — — Available-for-sale debt securities 14,492 — 14,492 — Interest rate derivatives 6,575 — 6,575 — Total $ 61,156 40,089 21,067 — During the year ended December 31, 2023 and December 31, 2022 , there were no real estate assets re-measured to estimated fair value on a nonrecurring basis. |
Equity and Capital
Equity and Capital | 12 Months Ended |
Dec. 31, 2023 | |
Equity And Capital [Abstract] | |
Equity and Capital | 12. Equity and Capital UBP Acquisition See Note 1 — Acquisition of Urstadt Biddle Properties Inc, for discussion regarding UBP acquisition. Preferred Stock of the Parent Company Terms and conditions of the preferred stock outstanding are summarized as follows: Preferred Stock Outstanding as of December 31, 2023 Date of Issuance Shares Issued and Outstanding Liquidation Preference Distribution Rate Callable By Company Series A 8/18/2023 4,600,000 $ 115,000,000 6.250 % On demand Series B 8/18/2023 4,400,000 110,000,000 5.875 % On or after 10/1/2024 9,000,000 $ 225,000,000 Each series of Preferred Stock is non-voting, has no stated maturity and is redeemable for cash at $ 25.00 per share at the Company's option, except that the Parent Company Series B preferred stock is not redeemable until on or after October 1, 2024. The holders of the Preferred Stock have general preference rights over common stock holders with respect to liquidation and quarterly distributions. Except under certain limited conditions, holders of the Preferred Stock will not be entitled to vote. In the event of a cumulative arrearage equal to six quarterly dividends, holders of the Preferred Stock (voting as a single class without regard to series) will have the right to elect two additional members to serve on the Company's Board of Directors until the arrearage has been cured. Upon the occurrence of a Change of Control, as defined in the Company's Articles of Incorporation, the holders of the Preferred Stock will have the right to convert all or part of the shares of the Preferred Stock held by such holders on the applicable conversion date into a number of shares of Common Stock. Dividends Declared On February 7, 2024 , the Board: • Declared a dividend on the Series A Preferred Stock, which will be paid at a rate of $ 0.390625 per share on April 30, 2024 . The dividend will be payable to holders of record of the Series A Preferred Stock as of the close of business on April 15, 2024 ; and • Declared a dividend on the Series B Preferred Stock, which will be paid at a rate of $ 0.367200 per share on April 30, 2024 The dividend will be payable to holders of record of the Series B Preferred Stock as of the close of business on April 15, 2024 . Common Stock of the Parent Company Dividends Declared On February 7, 2024 , the Board declared a common stock dividend of $ 0.67 per share, payable on April 3, 2024 , to shareholders of record as of March 13, 2024 . At the Market ("ATM") Program Under the Parent Company's ATM program, as authorized by the Board, the Parent Company may sell up to $ 500 million of common stock at prices determined by the market at the time of sale. The timing of sales, if any, will be dependent on market conditions and other factors. No sales occurred under the ATM program during 2023. As of December 31, 2023, $ 500 million of common stock remained available for issuance under this ATM equity program. Stock Repurchase Program The Board has authorized a two-year common stock repurchase program under which the Company may purchase, from time to time, up to a maximum of $ 250 million of its outstanding common stock through open market purchases, and/or in privately negotiated transactions (referred to as the "Repurchase Program"). The timing and price of stock repurchases, if any will be dependent upon market conditions and other factors. The stock repurchased, if not retired, would be treated as treasury stock. The Board's authorization for this Repurchase Program will expire on February 7, 2025 , unless modified, extended or earlier terminated by the Board. During the year ended December 31, 2023 , the Company executed multiple trades to repurchase 349,519 common shares under the Repurchase Program for a total of $ 20.0 million at a weighted average price of $ 57.22 per share. All repurchased shares were retired on the respective settlement dates. At December 31, 2023 , $ 230.0 million remained available under this Repurchase Program. Preferred Units of the Operating Partnership The number of Series A Preferred Units and Series B Preferred Units, respectively, issued by RCLP is equal to the number of Series A Preferred Stock and Series B Preferred Stock, respectively, issued by the Company. Common Units of the Operating Partnership Common Units are issued, or redeemed and retired, for each share of Parent Company stock issued or redeemed, or retired, as described above. During the year ended December 31, 2023, the Operating Partnership issued 520,589 exchangeable operating partnership units, valued at $ 31.3 million, as partial purchase price consideration for the acquisition of two properties. In addition, 3,340 Partnership Units were converted to Parent Company common stock, and 151,228 Partnership Units were converted to $ 9.2 million in cash at the Parent Company's election. General Partners The Parent Company, as general partner, owned the following Partnership Units outstanding: December 31, (in thousands) 2023 2022 Partnership units owned by the general partner 184,581 171,125 Partnership units owned by the limited partners 1,108 741 Total partnership units outstanding 185,689 171,866 Percentage of partnership units owned by the general partner 99.4 % 99.6 % |
Stock-Based Compensation
Stock-Based Compensation | 12 Months Ended |
Dec. 31, 2023 | |
Share-Based Payment Arrangement [Abstract] | |
Stock-Based Compensation | 13. Stock-Based Compensation The Company recorded stock-based compensation in General and administrative expenses in the accompanying Consolidated Statements of Operations, the components of which are further described below: Year ended December 31, (in thousands) 2023 2022 2021 Restricted stock (1) $ 17,277 16,667 12,651 Directors' fees paid in common stock and other employee stock grants 590 589 530 Capitalized stock-based compensation ( 954 ) ( 735 ) ( 666 ) Stock-based compensation, net of capitalization $ 16,913 16,521 12,515 (1) Includes amortization of the grant date fair value of restricted stock awards over the respective vesting periods . The Company established its Omnibus Incentive Plan (the "Plan") under which the Board of Directors may grant stock options and other stock-based awards to officers, directors, and other key employees. The Plan allows the Company to issue up to 5.0 million shares in the form of the Parent Company's common stock or stock options. As of December 31, 2023, there were 4.1 million shares available for grant under the Plan. Restricted Stock Awards The Company grants restricted stock under the Plan to its employees as a form of long-term compensation and retention. The terms of each restricted stock grant vary depending upon the participant's responsibilities and position within the Company. The Company's stock grants can be categorized as either time-based awards, performance-based awards, or market-based awards. All awards are valued at fair value, earn dividends throughout the vesting period, and have no voting rights. Fair value is measured using the grant date market price for all time-based or performance-based awards. Market based awards are valued using a Monte Carlo simulation to estimate the fair value based on the probability of satisfying the market conditions and the projected stock price at the time of payout, discounted to the valuation date over a three year performance period. Assumptions include historic volatility over the previous three year period, risk-free interest rates, and Regency's historic daily return as compared to the market index. Since the award payout includes dividend equivalents and the total shareholder return includes the value of dividends, no dividend yield assumption is required for the valuation. Compensation expense is measured at the grant date and recognized on a straight-line basis over the requisite vesting period for the entire award. The following table summarizes non-vested restricted stock activity: Year ended December 31, 2023 Number of Shares Intrinsic Value (in thousands) Weighted Average Grant Price Non-vested as of December 31, 2022 711,699 Time-based awards granted (1) (4) 162,616 $ 66.62 Performance-based awards granted (2) (4) 15,882 $ 67.53 Market-based awards granted (3) (4) 129,305 $ 70.47 Change in market-based awards earned for performance (3) 36,483 $ 66.78 Vested (5) ( 299,938 ) $ 65.74 Forfeited ( 1,529 ) $ 65.38 Non-vested as of December 31, 2023 (6) 754,518 $ 50,553 (1) Time-based awards vest beginning on the first anniversary following the grant date over a one or four year service period . These grants are subject only to continued employment and are not dependent on future performance measures. Accordingly, if such vesting criteria are not met, compensation cost previously recognized would be reversed. (2) Performance-based awards are earned subject to future performance measurements. Once the performance criteria are achieved and the actual number of shares earned is determined, shares vest over a required service period. The Company considers the likelihood of meeting the performance criteria based upon management's estimates from which it determines the amounts recognized as expense on a periodic basis. (3) Market-based awards are earned dependent upon the Company's total shareholder return in relation to the shareholder return of a NAREIT index over a three-year period. Once the performance criteria are met and the actual number of shares earned is determined, the shares are immediately vested and distributed. The probability of meeting the criteria is considered when calculating the estimated fair value on the date of grant using a Monte Carlo simulation. These awards are accounted for as awards with market criteria, with compensation cost recognized over the service period, regardless of whether the performance criteria are achieved and the awards are ultimately earned. The significant assumptions underlying determination of fair values for market-based awards granted were as follows: Year ended December 31, 2023 2022 2021 Volatility 45.50 % 43.10 % 42.60 % Risk free interest rate 3.75 % 1.39 % 0.18 % (4) The weighted-average grant price for restricted stock granted during the years is summarized below: Year ended December 31, 2023 2022 2021 Weighted-average grant price for restricted stock $ 68.28 $ 72.86 $ 46.55 (5) The total intrinsic value of restricted stock vested during the years is summarized below (in thousands): Year ended December 31, 2023 2022 2021 Intrinsic value of restricted stock vested $ 19,717 $ 17,797 $ 10,939 (6) As of December 31, 2023, there was $ 20.3 million of unrecognized compensation cost related to non-vested restricted stock granted under the Parent Company's Plan . When recognized, this compensation results in additional paid in capital in the accompanying Consolidated Statements of Equity of the Parent Company and in general partner preferred and common units in the accompanying Consolidated Statements of Capital of the Operating Partnership. This unrecognized compensation cost is expected to be recognized over the next three years . The Company issues new restricted stock from its authorized shares available at the date of grant. |
Saving and Retirement Plans
Saving and Retirement Plans | 12 Months Ended |
Dec. 31, 2023 | |
Retirement Benefits [Abstract] | |
Saving and Retirement Plans | 14. Saving and Retirement Plans 401(k) Retirement Plan The Company maintains a 401(k) retirement plan covering substantially all employees and permits participants to defer eligible compensation up to the maximum allowable amount determined by the IRS. This deferred compensation, together with Company matching contributions equal to 100 % of employee deferrals up to a maximum of $ 5,000 of their eligible compensation, is fully vested and funded as of December 31, 2023 . Additionally, an annual profit sharing contribution may be made, which are fully vested after three years in service. Costs for Company contributions to the plan total ed $ 5.3 million , $ 4.4 million , and $ 4.1 million for the years ended December 31, 2023, 2022, and 2021, respectively. Non-Qualified Deferred Compensation Plan ("NQDCP") The Company maintains a NQDCP which allows select employees and directors to defer part or all of their cash bonus, director fees, and vested restricted stock awards. All contributions into the participants' accounts are fully vested upon contribution to the NQDCP and are deposited in a Rabbi trust. The following table reflects the balances of the assets and deferred compensation liabilities of the Rabbi trust and related participant account obligations in the accompanying Consolidated Balance Sheets, excluding Regency stock: Year ended December 31, (in thousands) 2023 2022 Location in Consolidated Balance Sheets Assets: Securities $ 31,852 36,163 Other assets Liabilities: Deferred compensation obligation $ 31,770 36,085 Accounts payable and other liabilities Realized and unrealized gains and losses on securities held in the NQDCP are recognized within Net investment (income) loss in the accompanying Consolidated Statements of Operations. Changes in participant obligations, which is based on changes in the value of their investment elections, is recognized within General and administrative expenses within the accompanying Consolidated Statements of Operations. Investments in shares of the Company's common stock are included, at cost, as Treasury stock in the accompanying Consolidated Balance Sheets of the Parent Company and as a reduction of General partner capital in the accompanying Consolidated Balance Sheets of the Operating Partnership. The participant's deferred compensation liability attributable to the participants' investments in shares of the Company's common stock are included, at cost, within Additional paid in capital in the accompanying Consolidated Balance Sheets of the Parent Company and as a reduction of General partner capital in the accompanying Consolidated Balance Sheets of the Operating Partnership. Changes in participant account balances related to the Regency common stock fund are recorded directly within shareholders' equity. |
Earnings per Share and Unit
Earnings per Share and Unit | 12 Months Ended |
Dec. 31, 2023 | |
Earnings Per Share And Unit [Abstract] | |
Earnings per Share and Unit | 15. Earnings per Share and Unit Parent Company Earnings per Share The following summarizes the calculation of basic and diluted earnings per share: Year ended December 31, (in thousands, except per share data) 2023 2022 2021 Numerator: Income attributable to common shareholders - basic $ 359,500 482,865 361,411 Income attributable to common shareholders - diluted $ 359,500 482,865 361,411 Denominator: Weighted average common shares outstanding for basic EPS 176,085 171,404 170,236 Weighted average common shares outstanding for diluted EPS (1) (2) 176,371 171,791 170,694 Income per common share – basic $ 2.04 2.82 2.12 Income per common share – diluted $ 2.04 2.81 2.12 (1) Includes the dilutive impact of unvested restricted stock. (2) Using the treasury stock method, weighted average common shares outstanding for basic and diluted earnings per share exclude 1.0 million shares issuable under the forward ATM equity offering outstanding during 2021 as they would be anti-dilutive. The effect of the assumed conversion of certain convertible units had an anti-dilutive effect upon the calculation of income to the common shareholders per share. Accordingly, the impact of such conversions has not been included in the determination of diluted income per share calculations. Operating Partnership Earnings per Unit The following summarizes the calculation of basic and diluted earnings per unit ("EPU"): Year ended December 31, (in thousands, except per share data) 2023 2022 2021 Numerator: Income attributable to common unit holders - basic $ 361,508 484,970 363,026 Income attributable to common unit holders - diluted $ 361,508 484,970 363,026 Denominator: Weighted average common units outstanding for basic EPU 177,038 172,152 170,998 Weighted average common units outstanding for diluted EPU (1) (2) 177,324 172,540 171,456 Income per common unit – basic $ 2.04 2.82 2.12 Income per common unit – diluted $ 2.04 2.81 2.12 (1) Includes the dilutive impact of unvested restricted stock. (2) Using the treasury stock method, weighted average common shares outstanding for basic and diluted earnings per share exclude 1.0 million shares issuable under the forward ATM equity offering outstanding during 2021 as they would be anti-dilutive. The effect of the assumed conversion of certain convertible units had an anti-dilutive effect upon the calculation of income to the common unit holders per share. Accordingly, the impact of such conversions has not been included in the determination of diluted income per unit calculations. |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2023 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | 16. Commitments and Contingencies Litigation The Company is a party to litigation, and is subject to other disputes, in each case that arise in the ordinary course of business. While the outcome of any particular lawsuit or dispute cannot be predicted with certainty, in the opinion of management, the Company's currently pending litigation and disputes are not expected to have a material adverse effect on the Company's consolidated financial position, results of operations, or liquidity. Legal fees are expensed as incurred. Environmental The Company is subject to numerous environmental laws and regulations. With respect to applicability to the Company, these pertain primarily to chemicals historically used by certain current and former dry cleaning tenants, the existence of asbestos in older shopping centers, older underground petroleum storage tanks and other historic land uses. The Company believes that the ultimate disposition of currently known environmental matters will not have a material effect on its financial position, liquidity, or operations. The Company can give no assurance that existing environmental studies with respect to its shopping centers have revealed all potential environmental contaminants; that its estimate of liabilities will not change as more information becomes available; that any previous owner, occupant or tenant did not create any material environmental condition not known to the Company; that the current environmental condition of the shopping centers will not be affected by tenants and occupants, by the condition of nearby properties, or by unrelated third parties; and that changes in applicable environmental laws and regulations or their interpretation will not result in additional environmental liability to the Company. Letters of Credit The Company has the right to issue letters of credit under the Line up to an aggregate amount not to exceed $ 50.0 million, which reduces the credit availability under the Line. These letters of credit are primarily issued as collateral on behalf of its captive insurance subsidiary and to facilitate the construction of development projects. The Company had $ 8.5 million and $ 9.4 million in letters of credit outstanding as of December 31, 2023, and 2022 , respectively. |
Schedule III - Consolidated Rea
Schedule III - Consolidated Real Estate and Accumulated Depreciation | 12 Months Ended |
Dec. 31, 2023 | |
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract] | |
Consolidated Real Estate and Accumulated Depreciation | Initial Cost Total Cost Net Cost Shopping Centers (1) Land & Land Building & Cost (2) Land & Land Building & Total Accumulated Net of Mortgages or 101 7th Avenue $ 48,340 34,895 ( 57,260 ) 15,378 10,597 25,975 ( 1,818 ) 24,157 — 111 Kraft Avenue 1,220 3,932 — 1,220 3,932 5,152 ( 39 ) 5,113 — 1175 Third Avenue 40,560 25,617 866 40,560 26,483 67,043 ( 4,243 ) 62,800 — 1225-1239 Second Ave 23,033 17,173 ( 33 ) 23,033 17,140 40,173 ( 3,637 ) 36,536 — 200 Potrero 4,860 2,251 135 4,860 2,386 7,246 ( 535 ) 6,711 — 22 Crescent Road 2,198 272 ( 318 ) 2,152 — 2,152 — 2,152 — 25 Valley Drive 3,141 2,945 — 3,141 2,945 6,086 ( 37 ) 6,049 — 260-270 Sawmill Road 3,943 58 — 3,943 58 4,001 ( 1 ) 4,000 — 27 Purchase Street 903 2,239 — 903 2,239 3,142 ( 21 ) 3,121 — 321-323 Railroad Ave 3,044 2,414 1 3,044 2,415 5,459 ( 29 ) 5,430 — 410 South Broadway 2,372 1,603 — 2,372 1,603 3,975 ( 15 ) 3,960 — 470 Main Street 1,021 4,361 ( 1 ) 1,021 4,360 5,381 ( 70 ) 5,311 — 48 Purchase Street 1,214 4,414 6 1,214 4,420 5,634 ( 42 ) 5,592 — 4S Commons Town Center 30,760 35,830 3,021 30,812 38,799 69,611 ( 30,862 ) 38,749 ( 79,032 ) 530 Old Post Rd 1,673 552 — 1,673 552 2,225 ( 11 ) 2,214 — 6401 Roosevelt 2,685 934 288 2,685 1,222 3,907 ( 139 ) 3,768 — 7 Riversville 2,170 1,634 — 2,170 1,634 3,804 ( 20 ) 3,784 — 90 - 30 Metropolitan Avenue 16,614 24,171 343 16,614 24,514 41,128 ( 4,940 ) 36,188 — 91 Danbury Road 732 851 25 732 876 1,608 ( 220 ) 1,388 — 970 High Ridge Center 5,695 5,204 ( 1 ) 5,695 5,203 10,898 ( 67 ) 10,831 — Airport Plaza 1,293 11,119 — 1,293 11,119 12,412 ( 119 ) 12,293 — Alafaya Village 3,004 5,852 220 3,004 6,072 9,076 ( 1,398 ) 7,678 — Alden Bridge 17,014 21,958 623 17,014 22,581 39,595 ( 2,363 ) 37,232 ( 26,000 ) Aldi Square 6,394 1,704 — 6,394 1,704 8,098 ( 41 ) 8,057 — Amerige Heights Town Center 10,109 11,288 1,591 10,109 12,879 22,988 ( 6,797 ) 16,191 — Anastasia Plaza 9,065 — 1,270 3,338 6,997 10,335 ( 4,250 ) 6,085 — Apple Valley Square 5,438 21,328 ( 33 ) 5,358 21,375 26,733 ( 2,788 ) 23,945 — Arcadian Shopping Center 14,546 26,716 31 14,546 26,747 41,293 ( 298 ) 40,995 ( 13,033 ) Ashford Place 2,584 9,865 1,278 2,584 11,143 13,727 ( 9,409 ) 4,318 — Atlantic Village 4,282 18,827 2,145 4,868 20,386 25,254 ( 6,183 ) 19,071 — Avenida Biscayne (fka Aventura Square) 88,098 20,771 764 89,657 19,976 109,633 ( 4,374 ) 105,259 — Aventura Shopping Center 2,751 10,459 11,071 9,486 14,795 24,281 ( 5,369 ) 18,912 — Baederwood Shopping Center 12,016 33,556 887 12,016 34,443 46,459 ( 2,158 ) 44,301 ( 24,365 ) Balboa Mesa Shopping Center 23,074 33,838 14,113 27,758 43,267 71,025 ( 21,154 ) 49,871 — Banco Popular Building 2,160 1,137 ( 1,294 ) 2,003 — 2,003 — 2,003 — Belleview Square 8,132 9,756 5,081 8,323 14,646 22,969 ( 10,673 ) 12,296 — Belmont Chase 13,881 17,193 ( 247 ) 14,372 16,455 30,827 ( 9,231 ) 21,596 — Berkshire Commons 2,295 9,551 3,061 2,965 11,942 14,907 ( 9,854 ) 5,053 — Bethany Park Place 4,832 12,405 532 4,832 12,937 17,769 ( 1,440 ) 16,329 ( 10,200 ) Bethel Hub Center 1,738 3,918 88 1,738 4,006 5,744 ( 47 ) 5,697 — Initial Cost Total Cost Net Cost Shopping Centers (1) Land & Land Building & Cost (2) Land & Land Building & Total Accumulated Net of Mortgages or Biltmore Shopping Center 4,632 3,766 11 4,632 3,777 8,409 ( 47 ) 8,362 — Bird 107 Plaza 10,371 5,136 125 10,371 5,261 15,632 ( 1,452 ) 14,180 — Bird Ludlam 42,663 38,481 1,126 42,663 39,607 82,270 ( 9,570 ) 72,700 — Black Rock 22,251 20,815 587 22,251 21,402 43,653 ( 7,461 ) 36,192 ( 15,342 ) Blakeney Town Center 82,411 89,165 3,178 82,425 92,329 174,754 ( 7,764 ) 166,990 — Bloomfield Crossing 3,365 11,453 — 3,365 11,453 14,818 ( 137 ) 14,681 — Bloomingdale Square 3,940 14,912 23,012 8,639 33,225 41,864 ( 13,921 ) 27,943 — Blossom Valley 31,988 5,850 823 31,988 6,673 38,661 ( 901 ) 37,760 ( 22,300 ) Boca Village Square 43,888 9,726 353 43,888 10,079 53,967 ( 3,389 ) 50,578 — Boonton ACME Shopping Center 8,664 9,601 — 8,664 9,601 18,265 ( 139 ) 18,126 ( 10,585 ) Boulevard Center 3,659 10,787 3,750 3,659 14,537 18,196 ( 9,678 ) 8,518 — Boynton Lakes Plaza 2,628 11,236 5,218 3,606 15,476 19,082 ( 9,941 ) 9,141 — Boynton Plaza 12,879 20,713 597 12,879 21,310 34,189 ( 5,343 ) 28,846 — Brentwood Plaza 2,788 3,473 380 2,788 3,853 6,641 ( 1,999 ) 4,642 — Briarcliff La Vista 694 3,292 785 694 4,077 4,771 ( 3,518 ) 1,253 — Briarcliff Village 4,597 24,836 6,113 5,519 30,027 35,546 ( 22,604 ) 12,942 — Brick Walk 25,299 41,995 2,258 25,299 44,253 69,552 ( 13,635 ) 55,917 ( 30,919 ) BridgeMill Market 7,521 13,306 1,057 7,522 14,362 21,884 ( 4,303 ) 17,581 — Bridgeton 3,033 8,137 621 3,067 8,724 11,791 ( 4,005 ) 7,786 — Brighten Park 3,983 18,687 12,076 3,887 30,859 34,746 ( 23,089 ) 11,657 — Broadway Plaza 40,723 42,170 2,015 40,723 44,185 84,908 ( 10,433 ) 74,475 — Brooklyn Station on Riverside 7,019 8,688 353 6,998 9,062 16,060 ( 3,453 ) 12,607 — Brookside Plaza 35,161 17,494 5,966 36,163 22,458 58,621 ( 7,166 ) 51,455 — Buckhead Court 1,417 7,432 4,425 1,417 11,857 13,274 ( 10,379 ) 2,895 — Buckhead Landing 45,502 16,642 ( 3,255 ) 42,552 16,337 58,889 ( 8,210 ) 50,679 — Buckhead Station 70,411 36,518 937 70,448 37,418 107,866 ( 10,853 ) 97,013 — Buckley Square 2,970 5,978 1,424 2,970 7,402 10,372 ( 5,222 ) 5,150 — Caligo Crossing 2,459 4,897 163 2,546 4,973 7,519 ( 4,274 ) 3,245 — Cambridge Square 774 4,347 604 774 4,951 5,725 ( 4,358 ) 1,367 — Carmel Commons 2,466 12,548 5,844 3,422 17,436 20,858 ( 12,733 ) 8,125 — Carmel ShopRite Plaza 5,828 15,321 — 5,828 15,321 21,149 ( 174 ) 20,975 — Carriage Gate 833 4,974 3,233 1,302 7,738 9,040 ( 7,541 ) 1,499 — Carytown Exchange 24,121 21,263 ( 44 ) 24,122 21,218 45,340 ( 4,162 ) 41,178 — Cashmere Corners 3,187 9,397 686 3,187 10,083 13,270 ( 3,127 ) 10,143 — Cedar Commons 4,704 16,748 140 4,704 16,888 21,592 ( 1,717 ) 19,875 — Cedar Hill Shopping Center 7,266 9,372 35 7,280 9,393 16,673 ( 120 ) 16,553 ( 7,035 ) Centerplace of Greeley III 6,661 11,502 244 4,607 13,800 18,407 ( 7,740 ) 10,667 — Charlotte Square 1,141 6,845 1,511 1,141 8,356 9,497 ( 2,794 ) 6,703 — Chasewood Plaza 4,612 20,829 5,947 6,886 24,502 31,388 ( 21,856 ) 9,532 — Chastain Square 30,074 12,644 2,479 30,074 15,123 45,197 ( 5,178 ) 40,019 — Cherry Grove 3,533 15,862 5,763 3,533 21,625 25,158 ( 14,466 ) 10,692 — Initial Cost Total Cost Net Cost Shopping Centers (1) Land & Land Building & Cost (2) Land & Land Building & Total Accumulated Net of Mortgages or Chilmark Shopping Center 4,952 15,407 — 4,952 15,407 20,359 ( 168 ) 20,191 — Chimney Rock 23,623 48,200 685 23,623 48,885 72,508 ( 18,914 ) 53,594 — Circle Center West 22,930 9,028 304 22,930 9,332 32,262 ( 2,513 ) 29,749 — Circle Marina Center 29,303 18,437 77 28,880 18,937 47,817 ( 2,642 ) 45,175 ( 24,000 ) CityLine Market 12,208 15,839 464 12,306 16,205 28,511 ( 6,478 ) 22,033 — CityLine Market Phase II 2,744 3,081 104 2,744 3,185 5,929 ( 1,136 ) 4,793 — Clayton Valley Shopping Center 24,189 35,422 2,474 24,538 37,547 62,085 ( 30,482 ) 31,603 — Clocktower Plaza Shopping Ctr 49,630 19,624 550 49,630 20,174 69,804 ( 5,041 ) 64,763 — Clybourn Commons 15,056 5,594 499 15,056 6,093 21,149 ( 2,220 ) 18,929 — Cochran's Crossing 13,154 12,315 2,839 13,154 15,154 28,308 ( 12,149 ) 16,159 — Compo Acres Shopping Center 28,627 10,395 952 28,627 11,347 39,974 ( 2,735 ) 37,239 — Concord Shopping Plaza 30,819 36,506 1,699 31,272 37,752 69,024 ( 8,597 ) 60,427 — Copps Hill Plaza 29,515 40,673 2,473 29,514 43,147 72,661 ( 9,074 ) 63,587 ( 7,706 ) Coral Reef Shopping Center 14,922 15,200 2,542 15,332 17,332 32,664 ( 4,734 ) 27,930 — Corkscrew Village 8,407 8,004 899 8,407 8,903 17,310 ( 4,641 ) 12,669 — Cornerstone Square 1,772 6,944 1,988 1,772 8,932 10,704 ( 7,179 ) 3,525 — Corral Hollow 8,887 24,121 62 8,887 24,183 33,070 ( 1,649 ) 31,421 — Corvallis Market Center 6,674 12,244 915 6,696 13,137 19,833 ( 8,297 ) 11,536 — Cos Cob Commons 6,608 14,967 11 6,608 14,978 21,586 ( 163 ) 21,423 ( 13,142 ) Cos Cob Plaza 4,030 4,225 — 4,030 4,225 8,255 ( 53 ) 8,202 ( 3,902 ) Country Walk Plaza 18,713 20,373 421 18,713 20,794 39,507 ( 2,857 ) 36,650 ( 16,000 ) Countryside Shops 17,982 35,574 13,746 23,175 44,127 67,302 ( 14,636 ) 52,666 — Courtyard Shopping Center 5,867 4 3 5,867 7 5,874 ( 3 ) 5,871 — Culver Center 108,841 32,308 3,391 108,841 35,699 144,540 ( 9,219 ) 135,321 — Danbury Green 30,303 19,255 1,967 30,303 21,222 51,525 ( 4,970 ) 46,555 — Danbury Square 6,592 23,543 542 6,592 24,085 30,677 ( 248 ) 30,429 — Dardenne Crossing 4,194 4,005 803 4,343 4,659 9,002 ( 2,726 ) 6,276 — Darinor Plaza 693 32,140 1,328 711 33,450 34,161 ( 8,335 ) 25,826 — DeCicco's Plaza 8,890 23,368 30 8,890 23,398 32,288 ( 240 ) 32,048 — Diablo Plaza 5,300 8,181 2,880 5,300 11,061 16,361 ( 7,125 ) 9,236 — Dunwoody Hall 15,145 12,110 924 15,145 13,034 28,179 ( 1,255 ) 26,924 ( 13,800 ) Dunwoody Village 3,342 15,934 7,519 3,342 23,453 26,795 ( 18,473 ) 8,322 — East Meadow 12,325 21,378 715 12,267 22,151 34,418 ( 1,923 ) 32,495 — East Meadow Plaza 13,135 25,070 ( 27 ) 13,137 25,041 38,178 ( 1,902 ) 36,276 — East Pointe 1,730 7,189 2,622 1,941 9,600 11,541 ( 7,486 ) 4,055 — East San Marco 4,663 14,313 ( 144 ) 4,519 14,313 18,832 ( 1,023 ) 17,809 — Eastchester Plaza 5,017 7,379 20 5,017 7,399 12,416 ( 82 ) 12,334 — Eastport 2,985 5,649 784 2,925 6,493 9,418 ( 568 ) 8,850 — El Camino Shopping Center 7,600 11,538 15,728 10,328 24,538 34,866 ( 13,584 ) 21,282 — El Cerrito Plaza 11,025 27,371 3,818 11,025 31,189 42,214 ( 15,804 ) 26,410 — El Norte Pkwy Plaza 2,834 7,370 3,039 3,263 9,980 13,243 ( 7,042 ) 6,201 — Emerson Plaza 8,615 7,835 65 8,641 7,874 16,515 ( 99 ) 16,416 — Initial Cost Total Cost Net Cost Shopping Centers (1) Land & Land Building & Cost (2) Land & Land Building & Total Accumulated Net of Mortgages or Encina Grande 5,040 11,572 20,254 10,518 26,348 36,866 ( 17,639 ) 19,227 — Fairfield Center 6,731 29,420 1,757 6,731 31,177 37,908 ( 9,194 ) 28,714 — Fairfield Crossroads 9,982 9,796 ( 1 ) 9,982 9,795 19,777 ( 119 ) 19,658 — Falcon Marketplace 1,340 4,168 507 1,246 4,769 6,015 ( 3,276 ) 2,739 — Fellsway Plaza 30,712 7,327 10,350 34,924 13,465 48,389 ( 8,847 ) 39,542 ( 34,873 ) Fenton Marketplace 2,298 8,510 ( 7,919 ) 512 2,377 2,889 ( 1,428 ) 1,461 — Ferry Street Plaza 7,960 24,439 100 7,960 24,539 32,499 ( 258 ) 32,241 ( 8,796 ) Fleming Island 3,077 11,587 3,735 3,111 15,288 18,399 ( 10,020 ) 8,379 — Fountain Square 29,722 29,041 438 29,784 29,417 59,201 ( 14,462 ) 44,739 — French Valley Village Center 11,924 16,856 543 11,822 17,501 29,323 ( 15,956 ) 13,367 — Friars Mission Center 6,660 28,021 2,922 6,660 30,943 37,603 ( 19,452 ) 18,151 — Gardens Square 2,136 8,273 894 2,136 9,167 11,303 ( 6,220 ) 5,083 — Gateway Shopping Center 52,665 7,134 12,960 55,087 17,672 72,759 ( 20,577 ) 52,182 — Gelson's Westlake Market Plaza 3,157 11,153 6,182 4,654 15,838 20,492 ( 10,315 ) 10,177 — Glen Oak Plaza 4,103 12,951 1,826 4,124 14,756 18,880 ( 6,036 ) 12,844 — Glenwood Village 1,194 5,381 613 1,194 5,994 7,188 ( 5,082 ) 2,106 — Golden Hills Plaza 12,699 18,482 3,843 11,521 23,503 35,024 ( 13,838 ) 21,186 — Goodwives Shopping Center 17,091 26,274 184 17,092 26,457 43,549 ( 282 ) 43,267 ( 23,078 ) Grand Ridge Plaza 24,208 61,033 6,199 24,918 66,522 91,440 ( 32,434 ) 59,006 — Greens Farms Plaza 4,831 3,138 ( 1 ) 4,831 3,137 7,968 ( 59 ) 7,909 — Greenwich Commons 3,831 6,990 1 3,831 6,991 10,822 ( 72 ) 10,750 ( 4,866 ) Greenwood Shopping Centre 7,777 24,829 1,079 7,777 25,908 33,685 ( 6,997 ) 26,688 — H Mart Plaza 1,296 2,469 — 1,296 2,469 3,765 ( 24 ) 3,741 — Hammocks Town Center 28,764 25,113 1,484 28,764 26,597 55,361 ( 7,202 ) 48,159 — Hancock 8,232 28,260 ( 13,805 ) 4,692 17,995 22,687 ( 12,162 ) 10,525 — Harpeth Village Fieldstone 2,284 9,443 947 2,284 10,390 12,674 ( 6,769 ) 5,905 — Harrison Shopping Square 6,034 5,195 — 6,034 5,195 11,229 ( 71 ) 11,158 — Hasley Canyon Village 17,630 8,231 65 17,630 8,296 25,926 ( 881 ) 25,045 ( 16,000 ) Heritage 202 Center 1,694 5,901 ( 1 ) 1,694 5,900 7,594 ( 67 ) 7,527 — Heritage Plaza 12,390 26,097 14,924 12,215 41,196 53,411 ( 22,818 ) 30,593 — Hershey 7 808 12 7 820 827 ( 601 ) 226 — Hewlett Crossing I & II 11,850 18,205 949 11,850 19,154 31,004 ( 3,806 ) 27,198 — Hibernia Pavilion 4,929 5,065 244 4,929 5,309 10,238 ( 4,498 ) 5,740 — High Ridge Center 26,078 21,460 4 26,078 21,464 47,542 ( 254 ) 47,288 ( 9,047 ) Hillcrest Village 1,600 1,909 51 1,600 1,960 3,560 ( 1,245 ) 2,315 — Hilltop Village 2,995 4,581 4,423 3,104 8,895 11,999 ( 5,268 ) 6,731 — Hinsdale Lake Commons 5,734 16,709 12,058 8,343 26,158 34,501 ( 18,222 ) 16,279 — Holly Park 8,975 23,799 2,334 8,828 26,280 35,108 ( 9,330 ) 25,778 — Howell Mill Village 5,157 14,279 7,444 9,610 17,270 26,880 ( 9,115 ) 17,765 — Hyde Park 9,809 39,905 11,630 9,971 51,373 61,344 ( 31,988 ) 29,356 — Initial Cost Total Cost Net Cost Shopping Centers (1) Land & Land Building & Cost (2) Land & Land Building & Total Accumulated Net of Mortgages or Indian Springs Center 24,974 25,903 1,318 25,050 27,145 52,195 ( 9,052 ) 43,143 — Indigo Square 8,087 9,849 ( 4 ) 8,087 9,845 17,932 ( 2,940 ) 14,992 — Inglewood Plaza 1,300 2,159 1,283 1,300 3,442 4,742 ( 2,099 ) 2,643 — Island Village 12,354 23,660 175 12,361 23,828 36,189 ( 1,721 ) 34,468 — Keller Town Center 2,294 12,841 1,382 2,404 14,113 16,517 ( 8,293 ) 8,224 — Kirkman Shoppes 9,364 26,243 787 9,367 27,027 36,394 ( 6,805 ) 29,589 — Kirkwood Commons 6,772 16,224 1,479 6,802 17,673 24,475 ( 7,209 ) 17,266 — Klahanie Shopping Center 14,451 20,089 441 14,451 20,530 34,981 ( 5,244 ) 29,737 — Knotts Landing 2,062 23,536 — 2,062 23,536 25,598 ( 201 ) 25,397 — Kroger New Albany Center 3,844 6,599 1,455 3,844 8,054 11,898 ( 6,789 ) 5,109 — Lake Mary Centre 24,036 57,476 2,541 24,036 60,017 84,053 ( 16,636 ) 67,417 — Lake Pine Plaza 2,008 7,632 1,286 2,029 8,897 10,926 ( 5,852 ) 5,074 — Lakeview Shopping Center 6,341 22,296 313 6,341 22,609 28,950 ( 283 ) 28,667 ( 10,944 ) Lebanon/Legacy Center 3,913 7,874 1,310 3,913 9,184 13,097 ( 7,333 ) 5,764 — Littleton Square 2,030 8,859 ( 3,519 ) 2,433 4,937 7,370 ( 3,437 ) 3,933 — Lloyd King Center 1,779 10,060 1,661 1,779 11,721 13,500 ( 7,766 ) 5,734 — Lower Nazareth Commons 15,992 12,964 4,112 16,343 16,725 33,068 ( 14,163 ) 18,905 — Main & Bailey 603 13,428 — 603 13,428 14,031 ( 174 ) 13,857 — Mandarin Landing 7,913 27,230 658 7,913 27,888 35,801 ( 10,155 ) 25,646 — Marine's Taste of Italy 420 1,266 — 420 1,266 1,686 ( 11 ) 1,675 — Market at Colonnade Center 6,455 9,839 213 6,160 10,347 16,507 ( 6,063 ) 10,444 — Market at Preston Forest 4,400 11,445 1,881 4,400 13,326 17,726 ( 8,790 ) 8,936 — Market at Round Rock 2,000 9,676 6,329 1,996 16,009 18,005 ( 11,672 ) 6,333 — Market at Springwoods Village 12,592 12,781 137 12,592 12,918 25,510 ( 4,984 ) 20,526 ( 3,750 ) Marketplace at Briargate 1,706 4,885 399 1,727 5,263 6,990 ( 3,573 ) 3,417 — McLean Plaza 12,527 12,039 22 12,527 12,061 24,588 ( 149 ) 24,439 ( 5,000 ) Meadtown Shopping Center 9,961 15,328 5 9,961 15,333 25,294 ( 195 ) 25,099 ( 9,364 ) Mellody Farm 35,628 66,847 ( 289 ) 35,628 66,558 102,186 ( 17,637 ) 84,549 — Melrose Market 4,451 10,807 ( 370 ) 4,451 10,437 14,888 ( 1,773 ) 13,115 — Midland Park Shopping Center 9,814 24,226 104 9,814 24,330 34,144 ( 283 ) 33,861 ( 17,722 ) Millhopper Shopping Center 1,073 5,358 6,043 1,901 10,573 12,474 ( 8,252 ) 4,222 — Mockingbird Commons 3,000 10,728 3,365 3,000 14,093 17,093 ( 8,806 ) 8,287 — Monument Jackson Creek 2,999 6,765 1,411 2,999 8,176 11,175 ( 6,686 ) 4,489 — Morningside Plaza 4,300 13,951 1,228 4,300 15,179 19,479 ( 9,699 ) 9,780 — Murrayhill Marketplace 2,670 18,401 14,569 2,903 32,737 35,640 ( 20,011 ) 15,629 — Naples Walk 18,173 13,554 2,322 18,173 15,876 34,049 ( 8,566 ) 25,483 — New City PCSB Bank Pad 837 1,306 ( 1 ) 837 1,305 2,142 ( 14 ) 2,128 — New Milford Plaza 7,955 18,349 54 7,955 18,403 26,358 ( 223 ) 26,135 — Newberry Square 2,412 10,150 1,356 2,412 11,506 13,918 ( 10,204 ) 3,714 — Newfield Green 22,993 7,778 9 22,993 7,787 30,780 ( 158 ) 30,622 ( 19,278 ) Newland Center 12,500 10,697 8,913 16,276 15,834 32,110 ( 11,960 ) 20,150 — Initial Cost Total Cost Net Cost Shopping Centers (1) Land & Land Building & Cost (2) Land & Land Building & Total Accumulated Net of Mortgages or Nocatee Town Center 10,124 8,691 8,962 11,045 16,732 27,777 ( 10,815 ) 16,962 — Nohl Plaza 1,688 6,733 — 1,688 6,733 8,421 ( 91 ) 8,330 — North Hills 4,900 19,774 4,471 4,900 24,245 29,145 ( 14,662 ) 14,483 — Northgate Marketplace 5,668 13,727 38 4,995 14,438 19,433 ( 8,210 ) 11,223 — Northgate Marketplace Ph II 12,189 30,171 126 12,189 30,297 42,486 ( 10,600 ) 31,886 — Northgate Plaza (Maxtown Road) 1,769 6,652 4,983 2,840 10,564 13,404 ( 7,232 ) 6,172 — Northgate Square 5,011 8,692 1,196 5,011 9,888 14,899 ( 5,557 ) 9,342 — Northlake Village 2,662 11,284 5,876 2,662 17,160 19,822 ( 7,745 ) 12,077 — Oakbrook Plaza 4,000 6,668 6,295 4,766 12,197 16,963 ( 7,003 ) 9,960 — Oakleaf Commons 3,503 11,671 2,052 3,190 14,036 17,226 ( 9,223 ) 8,003 — Oakshade Town Center 6,591 28,966 498 6,591 29,464 36,055 ( 12,717 ) 23,338 ( 4,085 ) Ocala Corners 1,816 10,515 650 1,816 11,165 12,981 ( 6,152 ) 6,829 — Old Greenwich CVS 3,704 2,065 — 3,704 2,065 5,769 ( 31 ) 5,738 ( 891 ) Old St Augustine Plaza 2,368 11,405 13,514 3,455 23,832 27,287 ( 13,127 ) 14,160 — Orange Meadows 4,984 16,731 569 4,984 17,300 22,284 ( 281 ) 22,003 — Orangetown Shopping Center 4,716 15,472 106 4,718 15,576 20,294 ( 189 ) 20,105 ( 6,005 ) Pablo Plaza 11,894 21,407 11,241 14,135 30,407 44,542 ( 9,583 ) 34,959 — Paces Ferry Plaza 2,812 12,639 21,232 13,803 22,880 36,683 ( 14,913 ) 21,770 — Panther Creek 14,414 14,748 6,165 15,212 20,115 35,327 ( 16,359 ) 18,968 — Pavillion 15,626 22,124 1,517 15,626 23,641 39,267 ( 6,996 ) 32,271 — Peartree Village 5,197 19,746 936 5,197 20,682 25,879 ( 15,171 ) 10,708 — Pelham Manor Plaza 4,708 6,243 19 4,710 6,260 10,970 ( 65 ) 10,905 — Persimmon Place 25,975 38,114 691 26,692 38,088 64,780 ( 17,940 ) 46,840 — Pike Creek 5,153 20,652 9,595 5,873 29,527 35,400 ( 16,394 ) 19,006 — Pine Island 21,086 28,123 3,780 21,086 31,903 52,989 ( 10,192 ) 42,797 — Pine Lake Village 6,300 10,991 1,905 6,300 12,896 19,196 ( 8,395 ) 10,801 — Pine Ridge Square 13,951 23,147 565 13,951 23,712 37,663 ( 5,819 ) 31,844 — Pine Tree Plaza 668 6,220 1,038 668 7,258 7,926 ( 4,649 ) 3,277 — Pinecrest Place 4,193 13,275 ( 165 ) 3,992 13,311 17,303 ( 3,560 ) 13,743 — Plaza Escuela 24,829 104,395 4,047 24,829 108,442 133,271 ( 20,348 ) 112,923 — Plaza Hermosa 4,200 10,109 3,881 4,202 13,988 18,190 ( 9,062 ) 9,128 — Point 50 15,239 11,367 69 14,628 12,047 26,675 ( 2,273 ) 24,402 — Point Royale Shopping Center 18,201 14,889 6,748 19,386 20,452 39,838 ( 7,643 ) 32,195 — Pompton Lakes Towne Square 12,940 16,392 136 12,940 16,528 29,468 ( 194 ) 29,274 — Post Road Plaza 15,240 5,196 176 15,240 5,372 20,612 ( 1,412 ) 19,200 — Potrero Center 133,422 116,758 ( 88,645 ) 85,205 76,330 161,535 ( 15,070 ) 146,465 — Powell Street Plaza 8,248 30,716 4,172 8,248 34,888 43,136 ( 20,033 ) 23,103 — Powers Ferry Square 3,687 17,965 10,088 5,758 25,982 31,740 ( 22,479 ) 9,261 — Powers Ferry Village 1,191 4,672 663 1,191 5,335 6,526 ( 4,415 ) 2,111 — Prairie City Crossing 4,164 13,032 623 4,164 13,655 17,819 ( 7,785 ) 10,034 — Preston Oaks 763 30,438 513 1,534 30,180 31,714 ( 5,281 ) 26,433 — Initial Cost Total Cost Net Cost Shopping Centers (1) Land & Land Building & Cost (2) Land & Land Building & Total Accumulated Net of Mortgages or Prestonbrook 7,069 8,622 ( 593 ) 5,244 9,854 15,098 ( 8,167 ) 6,931 — Prosperity Centre 11,682 26,215 750 11,681 26,966 38,647 ( 6,214 ) 32,433 — Purchase Street Shops 466 1,388 1 466 1,389 1,855 ( 22 ) 1,833 — Ralphs Circle Center 20,939 6,317 162 20,939 6,479 27,418 ( 2,080 ) 25,338 — Red Bank Village 10,336 9,500 1,267 9,755 11,348 21,103 ( 4,948 ) 16,155 — Regency Commons 3,917 3,616 371 3,917 3,987 7,904 ( 3,073 ) 4,831 — Regency Square 4,770 25,191 7,003 5,060 31,904 36,964 ( 27,508 ) 9,456 — Ridgeway Shopping Center 47,684 96,414 204 47,684 96,618 144,302 ( 969 ) 143,333 ( 43,150 ) Rite Aid Plaza-Waldwick Plaza 1,774 5,753 10 1,774 5,763 7,537 ( 58 ) 7,479 — Rivertowns Square 15,505 52,505 5,381 16,853 56,538 73,391 ( 10,252 ) 63,139 — Rona Plaza 1,500 4,917 397 1,500 5,314 6,814 ( 3,632 ) 3,182 — Roosevelt Square 40,371 32,108 7,587 40,382 39,684 80,066 ( 7,150 ) 72,916 — Russell Ridge 2,234 6,903 1,684 2,234 8,587 10,821 ( 6,294 ) 4,527 — Ryanwood Square 10,581 10,044 361 10,581 10,405 20,986 ( 3,525 ) 17,461 — Sammamish-Highlands 9,300 8,075 8,945 9,592 16,728 26,320 ( 12,078 ) 14,242 — San Carlos Marketplace 36,006 57,886 402 36,006 58,288 94,294 ( 11,710 ) 82,584 — San Leandro Plaza 1,300 8,226 1,537 1,300 9,763 11,063 ( 5,971 ) 5,092 — Sandy Springs 6,889 28,056 4,754 6,889 32,810 39,699 ( 12,255 ) 27,444 — Sawgrass Promenade 10,846 12,525 1,105 10,846 13,630 24,476 ( 3,906 ) 20,570 — Scripps Ranch Marketplace 59,949 26,334 1,045 59,949 27,379 87,328 ( 5,986 ) 81,342 — Serramonte Center 390,106 172,652 95,691 416,509 241,940 658,449 ( 77,112 ) 581,337 — Shaw's at Plymouth 3,968 8,367 — 3,968 8,367 12,335 ( 2,481 ) 9,854 — Shelton Square 13,383 25,265 2,844 13,383 28,109 41,492 ( 362 ) 41,130 — Sheridan Plaza 82,260 97,273 15,832 83,814 111,551 195,365 ( 25,907 ) 169,458 — Sherwood Crossroads 2,731 6,360 920 2,454 7,557 10,011 ( 4,394 ) 5,617 — Shiloh Springs 5,236 11,802 625 5,236 12,427 17,663 ( 1,394 ) 16,269 — Shoppes 104 11,193 — 3,002 7,078 7,117 14,195 ( 4,159 ) 10,036 — Shoppes at Homestead 5,420 9,450 2,490 5,420 11,940 17,360 ( 7,824 ) 9,536 — Shoppes at Lago Mar 8,323 11,347 287 8,323 11,634 19,957 ( 3,457 ) 16,500 — Shoppes at Sunlake Centre 16,643 15,091 6,360 18,001 20,093 38,094 ( 5,764 ) 32,330 — Shoppes of Grande Oak 5,091 5,985 953 5,091 6,938 12,029 ( 6,045 ) 5,984 — Shoppes of Jonathan's Landing 4,474 5,628 514 4,474 6,142 10,616 ( 1,634 ) 8,982 — Shoppes of Oakbrook 20,538 42,992 402 20,538 43,394 63,932 ( 13,126 ) 50,806 — Shoppes of Silver Lakes 17,529 21,829 1,933 17,529 23,762 41,291 ( 6,674 ) 34,617 — Shoppes of Sunset 2,860 1,316 680 2,860 1,996 4,856 ( 482 ) 4,374 — Shoppes of Sunset II 2,834 715 623 2,834 1,338 4,172 ( 363 ) 3,809 — Shops at County Center 9,957 11,296 2,197 9,973 13,477 23,450 ( 12,136 ) 11,314 — Shops at Erwin Mill 9,082 6,124 575 9,087 6,694 15,781 ( 4,316 ) 11,465 ( 10,000 ) Shops at John's Creek 1,863 2,014 ( 63 ) 1,501 2,313 3,814 ( 1,701 ) 2,113 — Shops at Mira Vista 11,691 9,026 739 11,691 9,765 21,456 ( 3,555 ) 17,901 ( 165 ) Shops at Quail Creek 1,487 7,717 1,146 1,448 8,902 10,350 ( 4,938 ) 5,412 — Initial Cost Total Cost Net Cost Shopping Centers (1) Land & Land Building & Cost (2) Land & Land Building & Total Accumulated Net of Mortgages or Shops at Saugus 19,201 17,984 555 18,811 18,929 37,740 ( 13,955 ) 23,785 — Shops at Skylake 84,586 39,342 2,382 85,117 41,193 126,310 ( 12,523 ) 113,787 — Shops at The Columbia 3,117 8,869 — 3,117 8,869 11,986 ( 627 ) 11,359 — Shops on Main 17,020 27,055 16,431 18,534 41,972 60,506 ( 18,076 ) 42,430 — Somers Commons 7,019 29,808 2,366 7,019 32,174 39,193 ( 343 ) 38,850 — Sope Creek Crossing 2,985 12,001 3,482 3,332 15,136 18,468 ( 10,741 ) 7,727 — South Beach Regional 28,188 53,405 1,383 28,188 54,788 82,976 ( 13,782 ) 69,194 — South Pass Village 11,079 31,610 56 11,079 31,666 42,745 ( 361 ) 42,384 ( 20,144 ) South Point 6,563 7,939 586 6,563 8,525 15,088 ( 2,430 ) 12,658 — Southbury Green 26,661 34,325 7,247 29,743 38,490 68,233 ( 9,918 ) 58,315 — Southcenter 1,300 12,750 2,350 1,300 15,100 16,400 ( 9,929 ) 6,471 — Southpark at Cinco Ranch 18,395 11,306 7,531 21,438 15,794 37,232 ( 9,989 ) 27,243 — SouthPoint Crossing 4,412 12,235 1,556 4,382 13,821 18,203 ( 8,865 ) 9,338 — Staples Plaza-Yorktown Heights 7,131 47,704 268 7,131 47,972 55,103 ( 465 ) 54,638 — Starke 71 1,683 13 71 1,696 1,767 ( 986 ) 781 — Star's at Cambridge 31,082 13,520 ( 1 ) 31,082 13,519 44,601 ( 3,426 ) 41,175 — Star's at Quincy 27,003 9,425 1 27,003 9,426 36,429 ( 2,887 ) 33,542 — Star's at West Roxbury 21,973 13,386 282 21,973 13,668 35,641 ( 3,390 ) 32,251 — Station Centre Old Greenwich 9,121 7,603 — 9,121 7,603 16,724 ( 110 ) 16,614 ( 6,770 ) Sterling Ridge 12,846 12,162 1,660 12,846 13,822 26,668 ( 11,447 ) 15,221 — Stroh Ranch 4,280 8,189 1,192 4,280 9,381 13,661 ( 7,573 ) 6,088 — Suncoast Crossing 9,030 10,764 4,602 13,374 11,022 24,396 ( 9,744 ) 14,652 — Sunny Valley Shops 2,820 5,055 31 2,820 5,086 7,906 ( 71 ) 7,835 — Talega Village Center 22,415 12,054 86 22,415 12,140 34,555 ( 2,894 ) 31,661 — Tamarac Town Square 12,584 9,221 1,503 12,584 10,724 23,308 ( 3,183 ) 20,125 — Tanasbourne Market 3,269 10,861 ( 294 ) 3,149 10,687 13,836 ( 7,083 ) 6,753 — Tanglewood Shopping Center 5,920 7,889 9 5,920 7,898 13,818 ( 100 ) 13,718 ( 3,163 ) Tassajara Crossing 8,560 15,464 2,791 8,560 18,255 26,815 ( 11,227 ) 15,588 — Tech Ridge Center 12,945 37,169 4,362 13,589 40,887 54,476 ( 20,180 ) 34,296 — The Abbot 72,910 6,086 51,854 79,217 51,633 130,850 ( 2,904 ) 127,946 — The Crossing Clarendon 154,932 126,328 54,813 161,278 174,795 336,073 ( 31,880 ) 304,193 — The Dock-Dockside 20,974 49,185 2 20,974 49,187 70,161 ( 527 ) 69,634 ( 33,667 ) The Field at Commonwealth 30,982 18,248 37 30,983 18,284 49,267 ( 9,071 ) 40,196 — The Gallery at Westbury Plaza 108,653 216,771 4,150 108,653 220,921 329,574 ( 48,381 ) 281,193 — The Hub Hillcrest Market 18,773 61,906 7,706 19,611 68,774 88,385 ( 23,007 ) 65,378 — The Longmeadow Shops 5,451 23,738 15 5,451 23,753 29,204 ( 82 ) 29,122 ( 13,000 ) The Marketplace 10,927 36,052 1,230 10,927 37,282 48,209 ( 8,304 ) 39,905 — The Plaza at St. Lucie West 1,718 6,204 39 1,718 6,243 7,961 ( 1,515 ) 6,446 — The Point at Garden City Park 741 9,764 5,889 2,559 13,835 16,394 ( 5,256 ) 11,138 — The Pruneyard 112,136 86,918 2,810 112,136 89,728 201,864 ( 14,462 ) 187,402 ( 2,200 ) The Shops at Hampton Oaks 843 372 ( 313 ) 297 605 902 ( 266 ) 636 — The Village at Hunter's Lake 9,735 12,982 35 9,735 13,017 22,752 ( 2,929 ) 19,823 — Initial Cost Total Cost Net Cost Shopping Centers (1) Land & Land Building & Cost (2) Land & Land Building & Total Accumulated Net of Mortgages or The Village at Riverstone 17,179 13,013 ( 111 ) 17,179 12,902 30,081 ( 3,838 ) 26,243 — Town and Country 4,664 5,207 22 4,664 5,229 9,893 ( 2,110 ) 7,783 — Town Square 883 8,132 739 883 8,871 9,754 ( 5,677 ) 4,077 — Towne Centre at Somers 3,235 30,998 22 3,235 31,020 34,255 ( 326 ) 33,929 — Treasure Coast Plaza 7,553 21,554 1,198 7,553 22,752 30,305 ( 5,975 ) 24,330 — Tustin Legacy 13,829 23,922 42 13,828 23,965 37,793 ( 7,310 ) 30,483 — Twin City Plaza 17,245 44,225 2,685 17,263 46,892 64,155 ( 22,416 ) 41,739 — Twin Peaks 5,200 25,827 9,650 6,585 34,092 40,677 ( 19,041 ) 21,636 — Unigold Shopping Center 5,490 5,144 6,637 5,561 11,710 17,271 ( 5,788 ) 11,483 — University Commons 4,070 30,785 729 4,070 31,514 35,584 ( 10,327 ) 25,257 — Valencia Crossroads 17,921 17,659 1,298 17,921 18,957 36,878 ( 17,499 ) 19,379 — Valley Ridge Shopping Center 13,363 19,803 49 13,363 19,852 33,215 ( 238 ) 32,977 ( 16,775 ) Valley Stream 13,297 16,241 533 13,887 16,184 30,071 ( 1,403 ) 28,668 — Van Houten Plaza 2,178 2,747 — 2,178 2,747 4,925 ( 39 ) 4,886 — Veterans Plaza 2,328 7,104 31 2,328 7,135 9,463 ( 85 ) 9,378 — Village at La Floresta 13,140 20,559 ( 59 ) 13,156 20,484 33,640 ( 8,735 ) 24,905 — Village at Lee Airpark 11,099 12,975 3,823 11,803 16,094 27,897 ( 14,880 ) 13,017 — Village Center 3,885 14,131 10,047 5,480 22,583 28,063 ( 13,473 ) 14,590 — Village Commons 312 5,950 114 312 6,064 6,376 ( 85 ) 6,291 — Von's Circle Center 49,037 22,618 924 49,037 23,542 72,579 ( 6,091 ) 66,488 ( 4,273 ) Wading River 14,969 18,641 634 14,915 19,329 34,244 ( 1,476 ) 32,768 — Waldwick Plaza 1,724 5,824 — 1,724 5,824 7,548 ( 73 ) 7,475 — Walker Center 3,840 7,232 4,094 3,878 11,288 15,166 ( 8,612 ) 6,554 — Walmart Norwalk 20,394 21,261 9 20,394 21,270 41,664 ( 6,377 ) 35,287 — Washington Commons 7,829 12,182 36 7,829 12,218 20,047 ( 150 ) 19,897 ( 8,766 ) Waterstone Plaza 5,498 13,500 131 5,498 13,631 19,129 ( 3,544 ) 15,585 — Welleby Plaza 1,496 7,787 2,338 1,496 10,125 11,621 ( 8,928 ) 2,693 — Wellington Town Square 2,041 12,131 3,010 2,600 14,582 17,182 ( 7,916 ) 9,266 — West Bird Plaza 12,934 18,594 339 15,386 16,481 31,867 ( 4,044 ) 27,823 — West Chester Plaza 1,857 7,572 725 1,857 8,297 10,154 ( 6,979 ) 3,175 — West Lake Shopping Center 10,561 9,792 447 10,561 10,239 20,800 ( 3,114 ) 17,686 — West Park Plaza 5,840 5,759 3,003 5,840 8,762 14,602 ( 5,619 ) 8,983 — Westbard Square 127,859 21,514 ( 8,648 ) 127,934 12,791 140,725 ( 12,024 ) 128,701 — Westbury Plaza 116,129 51,460 6,901 117,832 56,658 174,490 ( 14,612 ) 159,878 ( 88,000 ) Westchase 5,302 8,273 1,428 5,302 9,701 15,003 ( 4,971 ) 10,032 — Westchester Commons 3,366 11,751 11,160 4,894 21,383 26,277 ( 11,182 ) 15,095 — Westlake Village Plaza and Center 7,043 27,195 30,794 17,620 47,412 65,032 ( 36,156 ) 28,876 — Westport Plaza 9,035 7,455 ( 29 ) 9,035 7,426 16,461 ( 2,271 ) 14,190 — Westport Row 43,597 16,428 14,673 46,170 28,528 74,698 ( 7,180 ) 67,518 — Westwood Village 19,933 25,301 ( 1,050 ) 18,979 25,205 44,184 ( 18,416 ) 25,768 — Willa Springs 13,322 15,314 330 13,322 15,644 28,966 ( 1,358 ) 27,608 ( 16,700 ) Initial Cost Total Cost Net Cost Shopping Centers (1) Land & Land Building & Cost (2) Land & Land Building & Total Accumulated Net of Mortgages or Williamsburg at Dunwoody 7,435 3,721 1,193 7,444 4,905 12,349 ( 1,763 ) 10,586 — Willow Festival 1,954 56,501 3,641 1,976 60,120 62,096 ( 23,333 ) 38,763 — Willow Oaks 6,664 7,908 ( 272 ) 6,294 8,006 14,300 ( 3,998 ) 10,302 — Willows Shopping Center 51,964 78,029 3,414 51,992 81,415 133,407 ( 17,960 ) 115,447 — Woodcroft Shopping Center 1,419 6,284 1,799 1,421 8,081 9,502 ( 5,807 ) 3,695 — Woodman Van Nuys 5,500 7,195 384 5,500 7,579 13,079 ( 4,833 ) 8,246 — Woodmen Plaza 7,621 11,018 1,441 7,621 12,459 20,080 ( 12,436 ) 7,644 — Woodside Central 3,500 9,288 895 3,489 10,194 13,683 ( 6,498 ) 7,185 — Corporate Assets — 2,127 1,336 — 3,463 3,463 ( 1,489 ) 1,974 — Land held for future development 11,323 — ( 4,611 ) 6,712 — 6,712 — 6,712 — Construction in progress — — 218,181 — 218,181 218,181 — 218,181 — $ 5,506,209 6,848,826 1,099,356 5,561,362 7,893,029 13,454,391 ( 2,691,386 ) 10,763,005 ( 757,833 ) (1) See "Item 2 - Properties " of this Report, for geographic location, year each operating property was acquired, and year constructed or last major renovation. (2) The negative balance for costs capitalized subsequent to acquisition could include out-parcels sold, provision for losses recorded, and demolition of part of the property for redevelopment. See accompanying report of independent registered public accounting firm. Depreciation and amortization of the Company's investment in buildings and improvements reflected in the statements of operations is calculated over the estimated useful lives of the assets, which are up to 40 years. The aggregate cost for federal income tax purposes was approximately $ 10.8 billion at December 31, 2023. The changes in total real estate assets for the years ended December 31, 2023, 2022, and 2021 are as follows: (in thousands) 2023 2022 2021 Beginning balance $ 11,858,064 11,495,581 11,101,858 Acquired properties and land 1,445,428 224,653 479,708 Developments and improvements 206,085 171,629 172,012 Disposal of building and tenant improvements ( 14,149 ) ( 29,523 ) ( 10,898 ) Sale of properties ( 19,366 ) ( 4,276 ) ( 107,090 ) Properties held for sale ( 21,671 ) — ( 50,873 ) Provision for impairment — — ( 89,136 ) Ending balance $ 13,454,391 11,858,064 11,495,581 The changes in accumulated depreciation for the years ended December 31, 2023, 2022, and 2021 are as follows: (in thousands) 2023 2022 2021 Beginning balance $ 2,415,860 2,174,963 1,994,108 Depreciation expense 293,705 270,520 253,437 Disposal of building and tenant improvements ( 14,149 ) ( 29,523 ) ( 10,898 ) Sale of properties ( 569 ) ( 100 ) ( 28,715 ) Accumulated depreciation related to properties held for sale ( 3,461 ) — ( 28,110 ) Provision for impairment — — ( 4,859 ) Ending balance $ 2,691,386 2,415,860 2,174,963 See accompanying report of independent registered public accounting firm. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2023 | |
Accounting Policies [Abstract] | |
Organization and Principles of Consolidation | (a) Organization and Principles of Consolidation General Regency Centers Corporation (the "Parent Company") began its operations as a REIT in 1993 and is the general partner of Regency Centers, L.P. (the "Operating Partnership"). The Parent Company primarily engages in the ownership, management, leasing, acquisition, development, and redevelopment of shopping centers through the Operating Partnership, and has no other assets other than through its investment in the Operating Partnership, and its only liabilities are $ 200 million of unsecured private placement notes, which are co-issued and guaranteed by the Operating Partnership. The Parent Company guarantees all of the unsecured debt of the Operating Partnership. As of December 31, 2023, the Parent Company, the Operating Partnership, and their controlled subsidiaries on a consolidated basis (the "Company" or "Regency") owned 381 properties and held partial interests in an additional 101 properties through unconsolidated Investments in real estate partnerships (also referred to as "joint ventures" or "investment partnerships"). Consolidation The accompanying Consolidated Financial Statements include the accounts of the Parent Company, the Operating Partnership, its wholly-owned subsidiaries, and consolidated partnerships in which the Company has a controlling financial interest. Investments in real estate partnerships not controlled by the Company are accounted for under the equity method of accounting. All significant inter-company balances and transactions are eliminated in the Consolidated Financial Statements. The Company consolidates properties that are wholly-owned and properties where it owns less than 100% but has control over the activities most important to the overall success of the partnership. Control is determined using an evaluation based on accounting standards related to the consolidation of Variable Interest Entities ("VIEs") and voting interest entities. For joint ventures that are determined to be a VIE, the Company consolidates the entity where it is deemed to be the primary beneficiary. Determination of the primary beneficiary is based on whether an entity has (1) the power to direct the activities of the VIE that most significantly impact the entity's economic performance, and (2) the obligation to absorb losses of the entity that could potentially be significant to the VIE or the right to receive benefits from the entity that could potentially be significant to the VIE. Ownership of the Parent Company The Parent Company has a single class of common stock and two series of preferred stock outstanding. Ownership of the Operating Partnership The Operating Partnership's capital includes Common Units and Preferred Units. As of December 31, 2023, the Parent Company owned approximately 99.4 % or 184,581,070 of the 185,688,524 of the outstanding Common Units, with the remaining limited partner's Common Units held by third parties ("Exchangeable operating partnership units" or "EOP units"). The Parent Company currently owns all of the Preferred Units. Each EOP unit is exchangeable for cash or one share of common stock of the Parent Company, at the discretion of the Parent Company, and the unit holder cannot require redemption in cash or common stock (i.e., registered shares of the Parent). The Parent Company has evaluated the conditions as specified under Accounting Standards Codification ("ASC") Topic 480, Distinguishing Liabilities from Equity , as it relates to EOP units outstanding and concluded that the Parent Company has the right to satisfy the redemption requirements of the units by delivering shares of unregistered common stock. Accordingly, the Parent Company classifies EOP units as permanent equity in the accompanying Consolidated Balance Sheets and Consolidated Statements of Equity and Comprehensive Income. The Parent Company serves as general partner of the Operating Partnership. The EOP unit holders have limited rights over the Operating Partnership such that they do not have the power to direct the activities that most significantly impact the Operating Partnership’s economic performance. As such, the Operating Partnership is considered a VIE, and the Parent Company, which consolidates it, is the primary beneficiary. The Parent Company's only investment is the Operating Partnership. Net income and distributions of the Operating Partnership are allocable to the general and limited common Partnership Units in accordance with their ownership percentages. |
Acquisition of Urstadt Biddle Properties Inc. | Acquisition of Urstadt Biddle Properties Inc. On May 17, 2023 , the Parent Company entered into an Agreement and Plan of Merger (the “merger agreement”) by and among the Parent Company, Hercules Merger Sub, LLC, a wholly owned subsidiary of the Parent Company (“Merger Sub”), UBP, UB Maryland I, Inc., a wholly owned subsidiary of Urstadt Biddle (“UB Sub I”), and UB Maryland II, Inc., a wholly owned subsidiary of UB Sub I (“UB Sub II”), pursuant to which, (a) UB Sub II merged with and into Urstadt Biddle (the “first merger”), with Urstadt Biddle surviving the first merger as a wholly owned subsidiary of UB Sub I, and (b) following the first merger, UB Sub I merged with and into Merger Sub (the “second merger” and together with the first merger, the “mergers”), with Merger Sub being the surviving entity in the second merger. The combined company continues to trade under the ticker symbol “REG” on the National Association of Securities Dealers Automated Quotations (the “NASDAQ”). The closing of the mergers completed on August 18, 2023 and each share of Urstadt Biddle’s common stock, par value $ 0.01 per share (“Urstadt Biddle common stock”), class A common stock, par value $ 0.01 per share (“Urstadt Biddle Class A common stock” and, together with Urstadt Biddle common stock, the “Urstadt Biddle common shares”), 6.25 % Series H Cumulative Redeemable Preferred Stock and 5.875 % Series K Cumulative Redeemable Preferred Stock converted into one equivalent share in UB Sub I, with respect to each class, subject to limited exceptions set forth in the merger agreement. Immediately thereafter, on August 18, 2023, each share of UB Sub I’s common stock, par value $ 0.01 per share, and class A common stock, par value $ 0.01 per share, converted into 0.347 of a share of common stock, par value $ 0.01 per share, of common stock of the Parent Company, without interest and subject to certain adjustments, subject to limited exceptions set forth in the merger agreement, and each share of UB Sub I’s 6.25 % Series H Cumulative Redeemable Preferred Stock and 5.875 % Series K Cumulative Redeemable Preferred Stock was converted into one share of newly issued Parent Company 6.25 % Series A Cumulative Redeemable Preferred Stock (“Parent Company Series A preferred stock”) and 5.875 % Series B Cumulative Redeemable Preferred Stock (“Parent Company Series B preferred stock”), respectively (collectively referred to as the “Preferred Stock”). |
Estimates | Estimates, Risks, and Uncert ainties The preparation of the Consolidated Financial Statements in conformity with U.S. GAAP requires the Company's management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of commitments and contingent assets and liabilities, at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The most significant estimates in the Company's financial statements relate to the net carrying values of its real estate investments, collectibility of lease income, and acquired lease intangible assets and liabilities. It is possible that the estimates and assumptions that have been utilized in the preparation of the Consolidated Financial Statements could change significantly if economic conditions were to weaken |
Risks and Uncertainties | The success of the Company's tenants in operating their businesses and their corresponding ability to pay rent continue to be influenced by current economic challenges, which impact their cost of doing business, including but not limited to the impact of inflation, the cost and availability of labor, increasing energy prices and interest rates, and access to credit. Additionally, macroeconomic and geopolitical challenges, including the war involving Russia and Ukraine, Middle East conflicts and wars, and the economic and other possible conflicts involving China (including any slowing of its economy), could impact aspects of the U.S. economy and, therefore, consumer spending. The policies implemented by the U.S. government to address these issues, including raising interest rates, could result in adverse impacts on the U.S. economy, including a slowing of growth and potentially a recession, thereby impacting consumer spending, tenants' businesses, and/or decreasing future demand for space in shopping centers. The potential impact of current macroeconomic and geopolitical challenges on the Company's financial condition, results of operations, and cash flows is subject to change and continues to depend on the extent and duration of these risks and uncertainties. |
Real Estate Partnerships | Real Estate Partnerships As of December 31, 2023, Regency held partial ownership interests in 119 properties through partnerships, of which 18 are consolidated. Regency's partners include institutional investors and real estate developers and/or operators (the "Partners" or "Limited Partners"). These partnerships have been established to own and operate real estate property. Regency has a variable interest in these entities through its equity ownership, with Regency being the primary beneficiary in certain of these real estate partnerships. As such, Regency consolidates the partnerships into its financial statements for which it is the primary beneficiary and reports the limited partners' interests as noncontrolling interests. For those partnerships which Regency is not the primary beneficiary and does not control, but has significant influence, Regency recognizes its investment in them in accordance with the equity method of accounting. The assets of these partnerships are restricted to the use of the partnerships and cannot be reached by general creditors of the Company. Similarly, the obligations of the partnerships can only be settled by the assets of these partnerships or additional contributions by the partners. As managing member, Regency maintains the books and records and typically provides leasing property and asset management services to the partnerships. The Partners' level of involvement in these partnerships varies from protective decisions (debt, bankruptcy, selling primary asset(s) of business) to participating involvement such as approving leases, operating budgets, and capital budgets. • Certain partnerships were deemed VIEs primarily because the unrelated investors do not have substantive kick-out rights to remove the general or managing partner by a vote of a simple majority or less, and they do not have substantive participating rights. Those partnerships for which the Partners are involved in the day to day decisions and do not have any other aspects that would cause them to be considered VIEs, are evaluated for consolidation using the voting interest model. o Those partnerships in which Regency does not have a controlling financial interest are accounted for using the equity method of accounting and Regency's ownership interest is recognized through single-line presentation as Investments in real estate partnerships, in the Consolidated Balance Sheet, and Equity in income of investments in real estate partnerships, in the Consolidated Statements of Operations. Cash distributions of earnings from operations from Investments in real estate partnerships are presented in Cash flows provided by operating activities in the accompanying Consolidated Statements of Cash Flows. Cash distributions from the sale of a property or loan proceeds received from the placement of debt on a property included in Investments in real estate partnerships are presented in Cash flows provided by investing activities in the accompanying Consolidated Statements of Cash Flows. If distributed proceeds from debt refinancing and real estate sales in excess of Regency's carrying value of its investment results in a negative investment balance for a partnership, it is recorded within Accounts payable and other liabilities in the Consolidated Balance Sheets. The net difference in the carrying amount of investments in real estate partnerships and the underlying equity in net assets is accreted to earnings and recorded in Equity in income of investments in real estate partnerships in the accompanying Consolidated Statements of Operations over the expected useful lives of the properties and other intangible assets, which range from 10 to 40 years . The majority of the operations of the VIEs are funded with cash flows generated by the properties, or in the case of developments, with capital contributions or third-party construction loans. The major classes of assets, liabilities, and noncontrolling equity interests held by the Company's consolidated VIEs, exclusive of the Operating Partnership, are as follows: (in thousands) December 31, 2023 December 31, 2022 Assets Net real estate investments $ 270,674 107,725 Cash, cash equivalents, and restricted cash 8,201 2,420 Liabilities Notes payable 33,211 4,188 Equity Limited partners’ interests in consolidated partnerships 88,794 24,364 |
Noncontrolling Interests | Noncontrolling Interests The Company accounts for noncontrolling interests in accordance with the Consolidation guidance and the Distinguishing Liabilities from Equity guidance issued by the FASB. Noncontrolling interests represent the portion of equity that the Company does not own in those entities it consolidates. Noncontrolling interests also include amounts related to partnership units issued by consolidated subsidiaries of the Company in connection with certain property acquisitions. These partnership units have a defined redemption amount and the unit holders generally have the right to redeem their units at any time after a certain period from issuance. For these partnership units, the Company has the option to settle redemption amounts in cash or common stock. The Company evaluates the terms of the partnership units issued in accordance with the FASB’s Distinguishing Liabilities from Equity guidance. The partnership units for which the Company has the option to settle redemption amounts in cash or common stock are included in the caption Noncontrolling interests within the equity section on the Company’s Consolidated Balance Sheets. Noncontrolling Interests of the Parent Company The Consolidated Financial Statements of the Parent Company include the following ownership interests held by owners other than the common shareholders of the Parent Company: (i) the EOP units and (ii) the minority-owned interest held by third parties in consolidated partnerships ("Limited partners' interests in consolidated partnerships"). The Parent Company has included all of these noncontrolling interests in permanent equity, separate from the Parent Company's shareholders' equity, in the accompanying Consolidated Balance Sheets and Consolidated Statements of Equity. The portion of net income or comprehensive income attributable to these noncontrolling interests is included in net income and comprehensive income in the accompanying Consolidated Statements of Operations and Consolidated Statements of Comprehensive Income of the Parent Company. The Parent Company also evaluated its fiduciary duties to itself, its shareholders, and, as the managing general partner of the Operating Partnership, to the Operating Partnership, and concluded its fiduciary duties are not in conflict with each other or the underlying agreements. Therefore, the Parent Company classifies such units and interests as permanent equity in the accompanying Consolidated Balance Sheets and Consolidated Statements of Equity. Noncontrolling Interests of the Operating Partnership The Operating Partnership has determined that limited partners' interests in consolidated partnerships are noncontrolling interests. Subject to certain conditions and pursuant to the terms of the partnership agreements, the Company generally has the right, but not the obligation, to purchase the other members' interest or sell its own interest in these consolidated partnerships. The Operating Partnership has included these noncontrolling interests in permanent capital, separate from partners' capital, in the accompanying Consolidated Balance Sheets and Consolidated Statements of Capital. The portion of net income (loss) or comprehensive income (loss) attributable to these noncontrolling interests is included in Net income and Comprehensive income in the accompanying Consolidated Statements of Operations and Consolidated Statements Comprehensive Income of the Operating Partnership. |
Revenues and Tenant Receivable | (b) Revenues and Tenant Receivable Leasing Income and Tenant Receivables The Company leases space to tenants under agreements with varying terms that generally provide for fixed payments of base rent, with stated increases over the term of the lease. Some of the lease agreements contain provisions that provide for additional rents based on tenants' sales volume ("percentage rent"), which are recognized when the tenants achieve the specified targets as defined in their lease agreements. Additionally, most lease agreements contain provisions for reimbursement of the tenants' share of actual real estate taxes and insurance and common area maintenance ("CAM") costs (collectively "Recoverable Costs") incurred. Lease terms generally range from three to seven years for tenant spaces under 10,000 square feet ("Shop Space") and in excess of five years for spaces greater than 10,000 square feet ("Anchor Space"). Many leases also provide tenants the option to extend their lease beyond the initial term of the lease. If a tenant does not exercise its option or otherwise negotiate to renew, the lease expires and the lease contains an obligation for the tenant to relinquish its space, allowing it to be re-leased to a new tenant. This generally involves some level of cost to prepare the space for re-leasing, which is capitalized and depreciated over the shorter period of the life of the subsequent lease or the useful life of the improvement. The Company accounts for its leases under ASC Topic 842, Leases ("Topic 842"), as follows: Classification Under Topic 842, new leases or modifications thereto must be evaluated against specific classification criteria, which, based on the customary terms of the Company's leases, are classified as operating leases. However, certain longer-term leases (both lessee and lessor leases) may be classified as direct financing or sales type leases, which may result in selling profit and an accelerated pattern of earnings recognition. At December 31, 2023, the Company classified one lease as a sales type lease, with all others classified as operating leases. Recognition and Presentation Lease income for operating leases with fixed payment terms is recognized on a straight-line basis over the expected term of the lease for all leases for which collectibility is considered probable. CAM is considered a non-lease component of the lease contract under Topic 842. However, as the timing and pattern of providing the CAM service to the tenant is the same as the timing and pattern of the tenant's use of the underlying lease asset, the Company elected, as part of an available practical expedient, to combine CAM with the remaining lease components, along with tenant's reimbursement of real estate taxes and insurance, and recognize them together as Lease income in the accompanying Consolidated Statements of Operations. For sales type leases, the Company records any selling profit or loss arising from the lease at inception within Gain on sale of real estate, net of tax in the accompanying Consolidated Statement of Operations, as well as any initial direct costs recorded as an expense if, at commencement, the fair value of the underlying asset differs from its carrying amount, otherwise, they are deferred and included in the net investment in the lease. The net investment in the sales-type lease represents the lease receivable, the components of which are the future lease payments and any guaranteed residual value for the underlying assets, as well as any unguaranteed residual asset expected at the end of the lease term, each measured at net present value discounted using a rate implicit in the lease. Interest income is recorded within Lease income in the accompanying Consolidated Statements of Operations over the lease term so as to produce a constant periodic rate of return on the Company’s net investment in the leases. At the commencement date, the Company derecognizes the carrying amount of the underlying asset. When measuring the net investment in a long-term ground lease, the undiscounted residual value of the land will be limited to its fair value at commencement which will likely equate to its cost. Collectibility At lease commencement, the Company generally expects that collectibility of substantially all payments due under the lease is probable due to the Company's credit checks on tenants and other creditworthiness analysis undertaken before entering into a new lease; therefore, income from most operating leases is initially recognized on a straight-line basis. For operating leases in which collectibility of Lease income is not considered probable, Lease income is recognized on a cash basis and all previously recognized straight-line rent receivables are reversed in the period in which the Lease income is determined not to be probable of collection. Should collectibility of Lease income become probable again, through evaluation of qualitative and quantitative measures on a tenant by tenant basis, accrual basis accounting resumes and all commencement-to-date straight-line rent is recognized in that period. In addition to the lease-specific collectibility assessment performed under Topic 842, the Company may also recognize a general reserve, as a reduction to Lease income, for its portfolio of operating lease receivables which are not expected to be fully collectible based on the Company's historical collection experience. The Company estimates the collectibility of the accounts receivable related to base rents, straight-line rents, recoveries from tenants, and other revenue taking into consideration the Company's historical write-off experience, tenant credit-worthiness, current economic trends, and remaining lease terms. Uncollectible lease income is a direct charge against Lease income. Although we estimate uncollectible receivables and provide for them through charges against income, actual experience may differ from those estimates. The following table represents the components of Tenant and other receivables, net of amounts considered uncollectible, in the accompanying Consolidated Balance Sheets: December 31, (in thousands) 2023 2022 Tenant receivables $ 34,814 31,486 Straight-line rent receivables 138,590 128,214 Other receivables (1) 32,758 29,163 Total tenant and other receivables, net $ 206,162 188,863 (1) Other receivables include construction receivables, insurance receivables, and amounts due from real estate partnerships for Management, transaction and other fee income. Real Estate Sales The Company accounts for sales of nonfinancial assets under ASC Subtopic 610-20, Other Income - Gains and Losses from the Derecognition of Nonfinancial Assets , whereby the Company derecognizes real estate and recognizes a gain or loss on sales when a contract exists and control of the property has transferred to the buyer. Control of the property, including controlling financial interest, is generally considered to transfer upon closing through transfer of the legal title and possession of the property. While generally rare, any retained noncontrolling interest is measured at fair value at that time. Management Services and Other Property Income The Company recognizes revenue under ASC Topic 606, Revenue from Contracts with Customers ("Topic 606") , when or as control of the promised services are transferred to its customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those services. The following is a description of the Company's revenue from contracts with customers within the scope of Topic 606. Property and Asset Management Services The Company is engaged under agreements with its joint venture partnerships, which are generally perpetual in nature and cancellable through unanimous partner approval, absent an event of default. Under these agreements, the Company is to provide asset and property management and leasing services for the joint ventures' shopping centers. The fees are market-based, generally calculated as a percentage of either revenues earned or the estimated values of the properties managed or the proceeds received, and are recognized over the monthly or quarterly periods as services are rendered. Property management and asset management services represent a series of distinct daily services. Accordingly, the Company satisfies its performance obligation as service is rendered each day and the variability associated with that compensation is resolved each day. Amounts due from the partnerships for such services are paid during the month following the monthly or quarterly service periods. Several of the Company's partnership agreements provide for incentive payments, generally referred to as "promotes" or "earnouts," to Regency for appreciation in property values in Regency's capacity as managing member. The terms of these promotes are based on appreciation in real estate value over designated time intervals or upon designated events. The Company evaluates its expected promote payout at each reporting period, which generally does not result in revenue recognition until the measurement period has completed, when the amount can be reasonably determined and the amount is not probable of significant reversal. Leasing Services Leasing service fees are based on a percentage of the total rent due under the lease. The leasing service is considered performed upon successful execution of an acceptable tenant lease for the joint ventures' shopping centers, at which time revenue is recognized. Payment of the first half of the fee is generally due upon lease execution and the second half is generally due upon tenant opening or the commencement of rent payments. Transaction Services The Company also receives transaction fees, as contractually agreed upon with each joint venture, which include acquisition fees, disposition fees, and financing service fees. Control of these services is generally transferred at the time the related transaction closes, which is the point in time when the Company recognizes the related fee revenue. Any unpaid amounts related to transaction-based fees are included in Tenant and other receivables within the Consolidated Balance Sheets. Other Property Income Other property income includes parking fees and other incidental income from the properties and is generally recognized at the point in time that the performance obligation is met. Income within Management, transaction, and other fees on the Consolidated Statements of Operations is primarily from contracts with the Company's real estate partnerships. The primary components of these revenue streams, the timing of satisfying the performance obligations, and amounts are as follows: Year ended December 31, (in thousands) Timing of 2023 2022 2021 Management, transaction, and other fees: Property management services Over time $ 14,075 13,470 14,415 Asset management services Over time 6,542 6,752 6,921 Promote income Over time — — 13,589 (1) Leasing services Point in time 3,908 3,945 4,096 Other transaction fees Point in time 2,429 1,684 1,316 Total management, transaction, and other fees $ 26,954 25,851 40,337 (1) The Company recog nized $ 13.6 million in p romote revenue during the year ended December 31, 2021, for exceeding partnership return hurdles from the Company's performance as managing member in the USAA partnership. The consideration was paid in the form of a real estate asset. The accounts receivable for management services, which are included within Tenant and other receivables in the accompanying Consolidated Balance Sheets, are $ 18.5 million and $ 16.4 million , as of December 31, 2023 and 2022 , respectively. |
Real Estate Assets | (c) Real Estate Assets The following table details the components of Real estate assets in the Consolidated Balance Sheets: (in thousands) December 31, 2023 December 31, 2022 Land $ 4,802,583 4,379,877 Land improvements 758,779 707,227 Buildings 6,371,894 5,465,877 Building and tenant improvements 1,302,954 1,171,650 Construction in progress 218,181 133,433 Total real estate assets $ 13,454,391 11,858,064 Capitalization and Depreciation Real estate assets are stated at cost, less accumulated depreciation, and amortization. The Company periodically assesses the useful lives of its depreciable real estate assets, including those intended to be redeveloped in the near term, and accounts for any revisions prospectively. Expenditures for maintenance, repairs and demolition costs are charged to operations as incurred. Significant renovations and replacements, which improve or extend the life of the asset, are capitalized. As part of the leasing process, the Company may provide lessees with allowances for the construction of leasehold improvements. These leasehold improvements are capitalized and recorded as tenant improvements and depreciated over the shorter of the useful life of the improvements or the remaining lease term. If the allowance represents a payment for a purpose other than funding leasehold improvements, or in the event the Company is not considered the owner of the improvements, the allowance is considered to be a lease incentive and is recognized over the lease term as a reduction of Lease income. Factors considered during this evaluation include, among other things, who holds legal title to the improvements as well as other controlling rights provided by the lease agreement and provisions for substantiation of such costs (e.g. unilateral control of the tenant space during the build-out process). Determination of the appropriate accounting for the payment of a tenant allowance is made on a lease-by-lease basis, considering the facts and circumstances of the individual tenant lease. Depreciation is computed using the straight-line method over estimated useful lives of approximately 15 years for land improvements, 40 years for buildings and improvements, and the shorter of the useful life or the remaining lease term. Development and Redevelopment Costs All specifically identifiable costs related to development and redevelopment activities are capitalized into Real estate assets in the accompanying Consolidated Balance Sheets, and are included in Construction in progress within the above table. The capitalized costs include pre-development costs essential to the development or redevelopment of the property, construction costs, interest costs, real estate taxes, insurance, legal costs, salaries and related costs of personnel directly involved and other costs incurred during the period of development or redevelopment. Pre-development costs represent the costs the Company incurs prior to land acquisition or pursuing a redevelopment including contract deposits, as well as legal, engineering, and other external professional fees related to evaluating the feasibility of developing or redeveloping a shopping center. As of December 31, 2023 and 2022, the Company had nonrefundable deposits and other pre-development costs of approximately $ 7.7 million and $ 6.9 million , respectively. If the Company determines that the development or redevelopment of a particular shopping center is no longer probable, any related pre-development costs previously capitalized are immediately expensed. During the years ended December 31, 2023, 2022, and 2021, the Company expensed pre-development costs of approximately $ 0.1 million , $ 0.6 million , and $ 1.5 million , respectively, in Other operating expenses in the accompanying Consolidated Statements of Operations. Interest costs are capitalized into each development and redevelopment project based upon applying the Company's weighted average borrowing rate to that portion of the actual development or redevelopment costs incurred. The Company discontinues interest and real estate tax capitalization when a project is no longer being developed or is available for occupancy upon substantial completion of tenant improvements, but in no event would the Company capitalize interest on a project beyond 12 months after substantial comple tion of the building. During the years ended December 31, 2023, 2022, and 2021, the Company capitalized interest of $ 5.7 million , $ 4.2 million , and $ 4.2 million , respectively, on our development and redevelopment projects. We have a staff of employees directly supporting our development and redevelopment program. All direct internal costs attributable to these development activities are capitalized as part of each development and redevelopment project. The capitalization of costs is directly related to the actual level of development activity occurring. During the years ended December 31, 2023, 2022, and 2021, we capitalized $ 13.3 million , $ 10.8 million , and $ 11.3 million , respectively, of direct internal costs incurred to support our development and redevelopment program. Acquisitions Upon acquisition of operating real estate properties, the Company estimates the fair value of acquired tangible assets (consisting of land, land improvements, buildings, building improvements and tenant improvements) and identified intangible assets and liabilities (consisting of above and below-market leases and in-place leases), assumed debt, and any noncontrolling interest in the acquiree at the date of acquisition, based on evaluation of information and estimates available at that date. Based on these estimates, the Company allocates the purchase price of the acquired properties based on their relative fair value to the applicable assets and liabilities. Acquisitions of operating properties are generally considered asset acquisitions and therefore transaction costs are capitalized. Fair value is determined based on an exit price approach, which contemplates the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Company's methodology includes estimating an "as-if vacant" fair value of the physical property, which includes land, building, and improvements. In addition, the Company determines the estimated fair value of identifiable intangible assets and liabilities, considering the following categories: (i) value of in-place leases, and (ii) above and below-market value of in-place leases. The value of in-place leases is estimated based on the value associated with the costs avoided in originating leases compared to the acquired in-place leases as well as the value associated with lost rental and recovery revenue during the assumed lease-up period. The value of in-place leases is recorded to Depreciation and amortization expense in the Consolidated Statements of Operations over the remaining expected term of the respective leases. Above-market and below-market in-place lease values for acquired properties are recorded based on the present value of the difference between (i) the contractual amounts to be paid pursuant to the in-place leases and (ii) management's estimate of market lease rates for comparable in-place leases, measured over a period equal to the remaining non-cancelable term of the lease, including below-market renewal options, if applicable. The value of above-market leases is amortized as a reduction of Lease income over the remaining terms of the respective leases and the value of below-market leases is accreted to Lease income over the remaining terms of the respective leases, including below-market renewal options, if applicable. The Company does not assign value to customer relationship intangibles if it has pre-existing business relationships with major retailers at the acquired property since they do not provide incremental value over the Company's existing relationships. Held for Sale The Company classifies real estate assets as held-for-sale upon satisfaction of all the following criteria: (i) management commits to a plan to sell a property (or group of properties), (ii) the property is available for immediate sale in its present condition subject only to terms that are usual and customary for sales of such properties, (iii) an active program to locate a buyer and other actions required to complete the plan to sell the property have been initiated, (iv) the sale of the property is probable and transfer of the asset is expected to be completed within one year, (v) the property is being actively marketed for sale, and (vi) actions required to complete the plan indicate that it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn. Upon the determination to classify a property as held for sale, the Company ceases depreciation and amortization on the real estate property held for sale, as well as the amortization of any related intangible assets. Such properties are recorded at the lesser of the carrying value or estimated fair value less estimated costs to sell. Valuation of Real Estate Investments and Impairments The Company continually evaluates whether there are any events or changes in circumstances, that could indicate the carrying values of the real estate properties (including any related amortizable intangible assets or liabilities) may not be recoverable. When indicators of potential impairment suggest that the carrying value of real estate assets may not be recoverable, the Company assesses the recoverability of the asset group by estimating whether the Company will recover the carrying value of the asset group through its undiscounted future cash flows, including eventual disposition. Based on this analysis, if the Company does not believe that it will be able to recover the carrying value of the asset group, an impairment charge will be recorded to the extent that the carrying value exceeds the estimated fair value of the asset group. Estimated cash flows are based on several key assumptions, including rental rates, expected leasing activity, costs of tenant improvements, leasing commissions, expected hold period, and assumptions regarding the residual value upon disposition, including the exit capitalization rate. These key assumptions are subjective in nature and could differ materially from actual results. Changes in events or changes in circumstances may alter the hold period of an asset or asset group which may result in an impairment loss and such loss could be material to the Company's financial condition or operating performance. If a property previously classified as held and used is changed to held for sale, the Company estimates fair value, less expected costs to sell, which could cause the Company to determine that the property is impaired. The estimated fair value of real estate assets is subjective and is estimated through comparable sales information and other market data if available, or through use of an income approach such as the direct capitalization method or the discounted cash flow approach. The discounted cash flow approach uses similar assumptions to the undiscounted cash flow approach above, as well as a discount rate. Such cash flow projections and rates are subject to management judgment and changes in those assumptions could impact the estimate of fair value. In estimating the fair value of undeveloped land, the Company generally uses market data and comparable sales information. |
Cash, Cash Equivalents, and Restricted Cash | (d) Cash, Cash Equivalents, and Restricted Cash Any instruments which have an original maturity of 90 days or less when purchased are considered cash equivalents. As of December 31, 2023 and 2022, $ 6.4 million and $ 2.3 million , respectively, of cash was restricted through escrow agreements and certain mortgage loans. |
Other Assets | (e) Other Assets Goodwill Goodwill represents the excess of the purchase price consideration from the Equity One merger in 2017 over the fair value of the assets acquired and liabilities assumed. The Company accounts for goodwill in accordance with ASC Topic 350, Intangibles - Goodwill and Other , and allocates its goodwill to its reporting units, which have been determined to be at the individual property level. The Company performs an impairment evaluation of its goodwill at least annually, in November of each year, or more frequently as triggers occur. See note 5. The goodwill impairment evaluation is completed using either a qualitative or quantitative approach. Under a qualitative approach, the impairment review for goodwill consists of an assessment of whether it is more-likely-than-not that the reporting unit's fair value is less than its carrying value, including goodwill. If a qualitative approach indicates it is more likely-than-not that the estimated carrying value of a reporting unit (including goodwill) exceeds its fair value, or if the Company chooses to bypass the qualitative approach for any reporting unit, the Company will perform the quantitative approach described below. The quantitative approach consists of estimating the fair value of each reporting unit using discounted projected future cash flows and comparing those estimated fair values with the carrying values, which include the allocated goodwill. If the estimated fair value is less than the carrying value, the Company would then recognize a goodwill impairment charge for the amount by which the carrying amount exceeds the reporting unit's fair value, not to exceed the total amount of goodwill allocated to that reporting unit. Investments The Company determines the appropriate classification of its investments in debt and equity securities at the time of purchase and reevaluates such determinations at each balance sheet date. The fair value of securities is determined using quoted market prices. Debt securities are classified as held to maturity when the Company has the positive intent and ability to hold the securities to maturity. Debt securities that are bought and held principally for the purpose of selling them in the near term are classified as trading securities and are reported at fair value, with unrealized gains and losses recognized through earnings in Investment income in the Consolidated Statements of Operations. Debt securities not classified as held to maturity or as trading, are classified as available-for-sale, and are carried at fair value, with the unrealized gains and losses, net of tax, included in the determination of comprehensive income and reported in the Consolidated Statements of Comprehensive Income. Equity securities with readily determinable fair values are measured at fair value with changes in the fair value recognized through net income and presented within Investment income in the Consolidated Statements of Operations. |
Goodwill | Goodwill Goodwill represents the excess of the purchase price consideration from the Equity One merger in 2017 over the fair value of the assets acquired and liabilities assumed. The Company accounts for goodwill in accordance with ASC Topic 350, Intangibles - Goodwill and Other , and allocates its goodwill to its reporting units, which have been determined to be at the individual property level. The Company performs an impairment evaluation of its goodwill at least annually, in November of each year, or more frequently as triggers occur. See note 5. The goodwill impairment evaluation is completed using either a qualitative or quantitative approach. Under a qualitative approach, the impairment review for goodwill consists of an assessment of whether it is more-likely-than-not that the reporting unit's fair value is less than its carrying value, including goodwill. If a qualitative approach indicates it is more likely-than-not that the estimated carrying value of a reporting unit (including goodwill) exceeds its fair value, or if the Company chooses to bypass the qualitative approach for any reporting unit, the Company will perform the quantitative approach described below. The quantitative approach consists of estimating the fair value of each reporting unit using discounted projected future cash flows and comparing those estimated fair values with the carrying values, which include the allocated goodwill. If the estimated fair value is less than the carrying value, the Company would then recognize a goodwill impairment charge for the amount by which the carrying amount exceeds the reporting unit's fair value, not to exceed the total amount of goodwill allocated to that reporting unit. |
Investments | Investments The Company determines the appropriate classification of its investments in debt and equity securities at the time of purchase and reevaluates such determinations at each balance sheet date. The fair value of securities is determined using quoted market prices. Debt securities are classified as held to maturity when the Company has the positive intent and ability to hold the securities to maturity. Debt securities that are bought and held principally for the purpose of selling them in the near term are classified as trading securities and are reported at fair value, with unrealized gains and losses recognized through earnings in Investment income in the Consolidated Statements of Operations. Debt securities not classified as held to maturity or as trading, are classified as available-for-sale, and are carried at fair value, with the unrealized gains and losses, net of tax, included in the determination of comprehensive income and reported in the Consolidated Statements of Comprehensive Income. Equity securities with readily determinable fair values are measured at fair value with changes in the fair value recognized through net income and presented within Investment income in the Consolidated Statements of Operations. |
Derivative Instruments | Derivative Instruments The Company manages economic risks, including interest rate, liquidity, and credit risk primarily by managing the amount, sources, and duration of its debt funding and the use of derivative instruments. Specifically, the Company enters into derivative instruments to manage exposures that arise from business activities that result in the receipt or future payment of known and uncertain cash amounts, the amount of which are determined by interest rates. The Company's derivative instruments are used to manage fluctuations in the amount, timing, and duration of the Company's known or expected cash payments principally related to the Company's borrowings. All derivative instruments, whether designated in hedging relationships or not, are recorded on the accompanying Consolidated Balance Sheets at their fair value. The accounting for changes in the fair value of derivatives depends on the intended use of the derivative, whether the Company has elected to designate a derivative in a hedging relationship and apply hedge accounting, and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting. Derivatives designated and qualifying as a hedge of the exposure to variability in expected future cash flows, or other types of forecasted transactions, are considered cash flow hedges. Hedge accounting generally provides for the matching of the timing of gain or loss recognition on the hedging instrument with the earnings effect of the hedged forecasted transactions in a cash flow hedge. The Company may enter into derivative contracts that are intended to economically hedge certain risks, even though hedge accounting does not apply or the Company elects not to apply hedge accounting. The Company uses interest rate swaps to mitigate its interest rate risk on a related financial instrument or forecasted transaction, and the Company designates these interest rate swaps as cash flow hedges. Interest rate swaps designated as cash flow hedges generally involve the receipt of variable-rate amounts from a counterparty in exchange for the Company making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. The Company may also utilize cash flow hedges to lock U.S. Treasury rates in anticipation of future fixed-rate debt issuances. The gains or losses resulting from changes in fair value of derivatives that qualify as cash flow hedges are recognized in Accumulated other comprehensive income (loss) ("AOCI"). Upon the settlement of a hedge, gains and losses remaining in AOCI are amortized through earnings over the underlying term of the hedged transaction. The cash receipts or payments related to interest rate swaps are presented in cash flows provided by operating activities in the accompanying Consolidated Statements of Cash Flows. The Company formally documents all relationships between hedging instruments and hedged items, as well as its risk management objectives and strategies for undertaking various hedge transactions. The Company assesses, both at inception of the hedge and on an ongoing basis, whether the derivatives that are used in hedging transactions are highly effective in offsetting changes in the cash flows and/or forecasted cash flows of the hedged items. In assessing the valuation of the hedges, the Company uses standard market conventions and techniques such as discounted cash flow analysis, option pricing models, and termination costs at each balance sheet date. All methods of assessing fair value result in a general approximation of value, and such value may never actually be realized. |
Deferred Leasing Costs | (f) Deferred Leasing Costs Deferred leasing costs consist of costs associated with leasing the Company's shopping centers, and are presented net of accumulated amortization. Such costs are amortized over the period through lease expiration. If the lease is terminated early, the remaining leasing costs are written off. Under ASC Topic 842, the Company, as a lessor, may only defer as initial direct costs the incremental costs of a tenant's operating lease that would not have been incurred if the lease had not been obtained. These costs generally consist of third party broker payments. Non-contingent internal leasing and legal costs associated with leasing activities are expensed within General and administrative expenses. |
Income Taxes | (g) Income Taxes The Parent Company believes it qualifies, and intends to continue to qualify, as a REIT under the Code. As a REIT, the Parent Company will generally not be subject to federal income tax, provided that distributions to its shareholders are at least equal to REIT taxable income. All wholly-owned corporate subsidiaries of the Operating Partnership have elected to be a TRS or qualify as a REIT. The TRS's are subject to federal and state income taxes and file separate tax returns. As a pass through entity, the Operating Partnership generally does not pay taxes, but its taxable income or loss is reported by its partners, of which the Parent Company, as general partner and approximately 99.4 % owner, is allocated its Pro-rata share of tax attributes. The Company accounts for income taxes related to its TRS's under the asset and liability approach, which requires the recognition of the amount of taxes payable or refundable for the current year and deferred tax assets and liabilities for the expected future tax consequences of events that have been recognized in the financial statements. Under this method, deferred tax assets and liabilities are determined based on the differences between the financial statement and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The Company records net deferred tax assets to the extent it believes it is more likely than not that these assets will be realized. A valuation allowance is recorded to reduce deferred tax assets when it is believed that it is more likely than not that all or some portion of the deferred tax asset will not be realized. The Company considers all available positive and negative evidence, including forecasts of future taxable income, the reversal of other existing temporary differences, available net operating loss carryforwards, tax planning strategies and recent and projected results of operations in order to make that determination. In addition, tax positions are initially recognized in the financial statements when it is more likely than not the position will be sustained upon examination by the tax authorities. Such tax positions shall initially and subsequently be measured as the largest amount of tax benefit that has a greater than 50% likelihood of being realized upon ultimate settlement with the tax authority assuming full knowledge of the position and relevant facts. The Company believes that it has appropriate support for the income tax positions taken and to be taken on its tax returns and that its accruals for tax liabilities are adequate for all open tax years (2020 and forward for federal and state) based on an assessment of many factors including past experience and interpretations of tax laws applied to the facts of each matter. |
Lease Obligations | (h) Lease Obligations The Company has certain properties within its consolidated real estate portfolio that are either partially or completely on land subject to ground leases with third parties, which are all classified as operating leases. Accordingly, the Company owns only a long-term leasehold or similar interest in these properties. The building and improvements constructed on the leased land are capitalized as Real estate assets in the accompanying Consolidated Balance Sheets and depreciated over the shorter of the useful life of the improvements or the lease term. In addition, the Company has non-cancelable operating leases pertaining to office space from which it conducts its business. Leasehold improvements are capitalized as tenant improvements, included in Other assets in the Consolidated Balance Sheets, and depreciated over the shorter of the useful life of the improvements or the lease term. Under Topic 842, the Company recognizes Lease liabilities on its Consolidated Balance Sheets for its ground and office leases and corresponding Right of use assets related to these same ground and office leases which are classified as operating leases. A key input in estimating the Lease liabilities and resulting Right of use assets is establishing the discount rate in the lease, which since the rates implicit in the lease contracts are not readily determinable, requires additional inputs for the longer-term ground leases, including market-based interest rates that correspond with the remaining term of the lease, the Company's credit spread, and a securitization adjustment necessary to reflect the collateralized payment terms present in the lease. This discount rate is applied to the remaining unpaid minimum rental payments for each lease to measure the operating lease liabilities. The ground and office lease expenses are recognized on a straight-line basis over the term of the leases, including management's estimate of expected optional renewal periods. For ground leases, the Company generally assumes it will exercise options through the latest option date of that shopping center's anchor tenant lease. |
Earnings per Share and Unit | (i) Earnings per Share and Unit Basic earnings per share of common stock and unit are computed based upon the weighted average number of common shares and units, respectively, outstanding during the period. Diluted earnings per share and unit reflect the conversion of obligations and the assumed exercises of securities including the effects of shares issuable under the Company's share-based payment arrangements, if dilutive. Dividends paid on the Company's share-based compensation awards are not participating securities as they are forfeitable. |
Stock-Based Compensation | (j) Stock-Based Compensation The Company grants stock-based compensation to its employees and directors. The Company recognizes the cost of stock-based compensation based on the grant-date fair value of the award, which is expensed over the vesting period. When the Parent Company issues common stock as compensation, it receives an equal number of common units from the Operating Partnership. The Company is committed to contributing to the Operating Partnership all proceeds from the share-based awards granted under the Parent Company's Long-Term Omnibus Plan (the "Plan"). Accordingly, the Parent Company's ownership in the Operating Partnership will increase based on the amount of proceeds contributed to the Operating Partnership for the common units it receives. As a result of the issuance of common units to the Parent Company for stock-based compensation, the Operating Partnership records the effect of stock-based compensation for awards of equity in the Parent Company. |
Segment Reporting | (k) Segment Reporting The Company's business is investing in retail shopping centers through direct ownership or partnership interests. The Company actively manages its portfolio of retail shopping centers and may from time to time make decisions to sell lower performing properties or developments not meeting its long-term investment objectives. The proceeds from sales are generally reinvested into higher quality retail shopping centers, through acquisitions, new developments, or redevelopment of existing centers, which management believes will generate sustainable revenue growth and attractive returns. It is management's intent that all retail shopping centers will be owned or developed for investment purposes; however, the Company may decide to sell all or a portion of a development upon completion. The Company's revenues and net income are generated from the operation of its investment portfolio. The Company also earns fees for services provided to manage and lease retail shopping centers owned through joint ventures. The Company's portfolio is located throughout the United States. Management does not distinguish or group its operations on a geographical basis for purposes of allocating resources or capital. The Company’s chief operating decision maker evaluates operating and financial performance for each property on an individual property level; therefore, the Company defines an operating segment as its individual properties. The individual properties have been aggregated into one reportable segment based upon their similarities with regard to both the nature and economics of the centers, tenants and operational processes, as well as long-term average financial performance. |
Business Concentration | (l) Business Concentration Grocer anchor tenants represent approximately 20.0 % of Pro-rata annual base rent. No single tenant accounts for 10 % or more of revenue and none of the shopping centers are located outside the United States. |
Fair Value of Assets and Liabilities | (m) Fair Value of Assets and Liabilities ASC 820, Fair Value Measurements and Disclosures, or ASC 820, defines fair value, establishes a framework for measuring fair value in accordance with GAAP and expands disclosures about fair value measurements. ASC 820 emphasizes that fair value is intended to be a market-based measurement, as opposed to a transaction-specific measurement. Fair value is defined by ASC 820 as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Therefore, a fair value measurement is determined based on the assumptions that market participants would use in pricing the asset or liability. As a basis for considering market participant assumptions in fair value measurements, the Company uses a fair value hierarchy that distinguishes between market participant assumptions based on market data obtained from independent sources (observable inputs that are classified within Levels 1 and 2 of the hierarchy) and the Company's own assumptions about market participant assumptions (unobservable inputs classified within Level 3 of the hierarchy). The three levels of inputs used to measure fair value are as follows: • Level 1 - Quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. An active market is defined as a market in which transactions for the assets or liabilities occur with sufficient frequency and volume to provide pricing information on an ongoing basis. • Level 2 - Inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. • Level 3 - Unobservable inputs for the asset or liability, which are typically based on the Company's own assumptions, as there is little, if any, related market activity. The Company also re-measures nonfinancial assets and nonfinancial liabilities, initially measured at fair value in a business combination or other new basis event, at fair value in subsequent periods if a re-measurement event occurs. |
Recent Accounting Pronouncements | (n) Recent Accounting Pronouncements The following table provides a brief description of recent accounting pronouncements and expected impact on our financial statements: Standard Description Date of adoption Effect on the financial statements or other significant matters Recently adopted : ASU 2020-04 , Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting In March 2020, the Financial Accounting Standards Board ("FASB") issued ASU 2020-04, Reference Rate Reform (Topic 848). ASU 2020-04 contains practical expedients for reference rate reform related to activities that impact debt, leases, derivatives, and other contracts. The guidance in ASU 2020-04 is optional and may be elected over time as reference rate reform activities occur. The amendments in this update provide exceptions to the guidance in Topic 815 related to changes to the critical terms of a hedging relationship due to reference rate reform, which if criteria are met, provide such changes should not result in the dedesignation and redesignation of the hedging relationship. March 2020 through March 31, 2023 The Company has elected to apply the hedge accounting expedients and exceptions related to changes to the reference rate from LIBOR to SOFR in the Company's interest rate swaps, which it completed during the three months ended March 31, 2023. Application of these exceptions preserves the hedge designation of interest rate swaps and the related accounting and presentation consistent with past presentation. ASU 2021-08 , Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers The amendments in this update require acquiring entities to apply Topic 606 to recognize and measure contract assets and contract liabilities in a business combination rather than at fair value on the acquisition date required by Topic 805. January 1, 2023 The adoption of this ASU did no t have a material impact on the Company’s financial position and/or results of operations. ASU 2023-07 , Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures The amendments are aimed at enhancing the disclosures public entities provide regarding significant segment expenses so that investors can “better understand an entity’s overall performance” and assess “potential future cash flows.” January 1, 2024 The Company is assessing the impact this ASU will have on the Company’s financial statement disclosures. ASU 2023-09, Income Taxes (Topic 740):Improvements to Income Tax Disclosures. ASU 2023-09 requires public business entities to disclose additional information in specified categories with respect to the reconciliation of the effective tax rate to the statutory rate for federal, state, and foreign income taxes. It also requires greater detail about individual reconciling items in the rate reconciliation to the extent the impact of those items exceeds a specified threshold. January 1, 2025 The Company is assessing the impact this ASU will have on the Company’s financial statement disclosures. |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Accounting Policies [Abstract] | |
Schedule of Variable Interest Entities | The major classes of assets, liabilities, and noncontrolling equity interests held by the Company's consolidated VIEs, exclusive of the Operating Partnership, are as follows: (in thousands) December 31, 2023 December 31, 2022 Assets Net real estate investments $ 270,674 107,725 Cash, cash equivalents, and restricted cash 8,201 2,420 Liabilities Notes payable 33,211 4,188 Equity Limited partners’ interests in consolidated partnerships 88,794 24,364 |
Components of Tenant and Other Receivables, Net | The following table represents the components of Tenant and other receivables, net of amounts considered uncollectible, in the accompanying Consolidated Balance Sheets: December 31, (in thousands) 2023 2022 Tenant receivables $ 34,814 31,486 Straight-line rent receivables 138,590 128,214 Other receivables (1) 32,758 29,163 Total tenant and other receivables, net $ 206,162 188,863 (1) Other receivables include construction receivables, insurance receivables, and amounts due from real estate partnerships for Management, transaction and other fee income. |
Revenues and Other Receivables | The primary components of these revenue streams, the timing of satisfying the performance obligations, and amounts are as follows: Year ended December 31, (in thousands) Timing of 2023 2022 2021 Management, transaction, and other fees: Property management services Over time $ 14,075 13,470 14,415 Asset management services Over time 6,542 6,752 6,921 Promote income Over time — — 13,589 (1) Leasing services Point in time 3,908 3,945 4,096 Other transaction fees Point in time 2,429 1,684 1,316 Total management, transaction, and other fees $ 26,954 25,851 40,337 (1) The Company recog nized $ 13.6 million in p romote revenue during the year ended December 31, 2021, for exceeding partnership return hurdles from the Company's performance as managing member in the USAA partnership. The consideration was paid in the form of a real estate asset. |
Components of Real Estate Assets | The following table details the components of Real estate assets in the Consolidated Balance Sheets: (in thousands) December 31, 2023 December 31, 2022 Land $ 4,802,583 4,379,877 Land improvements 758,779 707,227 Buildings 6,371,894 5,465,877 Building and tenant improvements 1,302,954 1,171,650 Construction in progress 218,181 133,433 Total real estate assets $ 13,454,391 11,858,064 |
Schedule of New Accounting Pronouncements and Changes in Accounting Principles | The following table provides a brief description of recent accounting pronouncements and expected impact on our financial statements: Standard Description Date of adoption Effect on the financial statements or other significant matters Recently adopted : ASU 2020-04 , Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting In March 2020, the Financial Accounting Standards Board ("FASB") issued ASU 2020-04, Reference Rate Reform (Topic 848). ASU 2020-04 contains practical expedients for reference rate reform related to activities that impact debt, leases, derivatives, and other contracts. The guidance in ASU 2020-04 is optional and may be elected over time as reference rate reform activities occur. The amendments in this update provide exceptions to the guidance in Topic 815 related to changes to the critical terms of a hedging relationship due to reference rate reform, which if criteria are met, provide such changes should not result in the dedesignation and redesignation of the hedging relationship. March 2020 through March 31, 2023 The Company has elected to apply the hedge accounting expedients and exceptions related to changes to the reference rate from LIBOR to SOFR in the Company's interest rate swaps, which it completed during the three months ended March 31, 2023. Application of these exceptions preserves the hedge designation of interest rate swaps and the related accounting and presentation consistent with past presentation. ASU 2021-08 , Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers The amendments in this update require acquiring entities to apply Topic 606 to recognize and measure contract assets and contract liabilities in a business combination rather than at fair value on the acquisition date required by Topic 805. January 1, 2023 The adoption of this ASU did no t have a material impact on the Company’s financial position and/or results of operations. ASU 2023-07 , Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures The amendments are aimed at enhancing the disclosures public entities provide regarding significant segment expenses so that investors can “better understand an entity’s overall performance” and assess “potential future cash flows.” January 1, 2024 The Company is assessing the impact this ASU will have on the Company’s financial statement disclosures. ASU 2023-09, Income Taxes (Topic 740):Improvements to Income Tax Disclosures. ASU 2023-09 requires public business entities to disclose additional information in specified categories with respect to the reconciliation of the effective tax rate to the statutory rate for federal, state, and foreign income taxes. It also requires greater detail about individual reconciling items in the rate reconciliation to the extent the impact of those items exceeds a specified threshold. January 1, 2025 The Company is assessing the impact this ASU will have on the Company’s financial statement disclosures. |
Real Estate Investments (Tables
Real Estate Investments (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Real Estate [Line Item] | |
Schedule of Business Acquisitions | The following tables detail the other properties acquired for the periods set forth below: (in thousands) December 31, 2023 Date Property Name City/State Property Regency Ownership Purchase (1) Debt (1) Intangible (1) Intangible (1) 5/1/2023 Sienna Phase 1 Houston, TX Development 75 % $ 2,695 — — — 5/18/2023 SunVet Holbrook, NY Development 100 % 24,140 — — — 10/11/2023 Nohl Plaza Orange, CA Operating 100 % 25,328 — 3,940 10,470 12/1/2023 The Longmeadow Shops Longmeadow, MA Operating 100 % 31,400 — 4,049 1,876 Total property acquisitions $ 83,563 — 7,989 12,346 (1) Amounts for purchase price and allocation are reflected at 100 %. (in thousands) December 31, 2022 Date Property Name City/State Property Regency Ownership Purchase (1) Debt (1) Intangible (1) Intangible (1) 3/1/2022 Glenwood Green Old Bridge, NJ Development 70 % $ 11,000 — — — 3/31/2022 Island Village Bainbridge Island, WA Operating 100 % 30,650 — 2,900 6,839 4/1/2022 Apple Valley (2) Apple Valley, MN Operating 100 % 34,070 — 4,773 490 4/1/2022 Cedar Commons (2) Minneapolis, MN Operating 100 % 29,330 — 4,369 58 4/1/2022 Corral Hollow (2) Tracy, CA Operating 100 % 40,600 — 3,410 74 4/1/2022 Shops at the Columbia (2) Washington, DC Operating 100 % 14,000 — 889 181 5/6/2022 Baederwood Shoppes Jenkintown, PA Operating 80 % 51,603 22,779 5,796 1,062 10/12/2022 East Meadow Plaza East Meadow, NY Operating 100 % 30,000 — 3,295 10,867 Total property acquisitions $ 241,253 22,779 25,432 19,571 (1) Amounts for purchase price and allocation are reflected at 100 %. (2) These properties were part of the four property portfolio purchased from an existing unconsolidated real partnership, RegCal, LLC, in which the Company held a 25 % ownership interest. The basis allocated to Real estate assets was $ 93.2 million on a combined basis, including the Company's carry over basis related to its 25 % previously owned equity investment in the partnership. |
UBP Acquisition [Member] | |
Real Estate [Line Item] | |
Components of Purchase Price | the following table provides the components that make up the total purchase price for the UBP acquisition: (in thousands, except stock price) Purchase Price Shares of common stock issued for acquisition 13,568 Closing stock price on August 17, 2023 $ 61.03 Value of common stock issued for acquisition $ 828,025 Other adjustments ( 9,495 ) Total value of common stock issued $ 818,530 Debt repaid 39,266 Preferred stock converted 225,000 Transaction costs 57,197 Other cash payments 68 Total purchase price $ 1,140,061 |
Schedule of Total Purchase Price Including Transaction Costs Capitalized and Allocated | The total purchase price, including direct transaction costs capitalized, was allocated as follows: (in thousands) Purchase Price Allocation Real estate assets $ 1,379,835 Investments in unconsolidated real estate partnerships 35,942 Real estate assets 1,415,777 Cash, accounts receivable and other assets 51,902 Lease intangible assets 128,663 Total assets acquired 1,596,342 Notes payable 284,706 Accounts payable, accrued expenses, and other liabilities 37,500 Lease intangible liabilities 69,583 Total liabilities assumed 391,789 Non-controlling interest 64,492 Total purchase price $ 1,140,061 |
Schedule of Weighted Average Amortization Period of Intangible Assets and Liabilities | The following table details the weighted average amortization and net accretion periods, in years, of the major classes of intangible assets and intangible liabilities arising from the UBP acquisition: (in years) Weighted Average Amortization Period Assets: In-place leases 8.0 Above-market leases 7.0 Liabilities: Below-market leases 18.5 |
Property Dispositions (Tables)
Property Dispositions (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Discontinued Operations and Disposal Groups [Abstract] | |
Schedule of Properties Disposed of | The following table provides a summary of consolidated shopping centers and land parcels sold during the periods set forth below: Year ended December 31, (in thousands, except number sold data) 2023 2022 2021 Net proceeds from sale of real estate investments $ 11,167 143,133 206,193 Gain on sale of real estate, net of tax $ 661 109,005 91,119 Provision for impairment of real estate sold $ — — 112 Number of operating properties sold — 2 7 Number of land parcels sold 5 5 5 Percent interest sold 100 % 100 % 100 % |
Investments in Real Estate Pa_2
Investments in Real Estate Partnerships (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Schedule of Equity Method Investments [Line Items] | |
Schedule of Investments in Real Estate Partnerships | The Company invests in real estate partnerships, which consist of the following: December 31, 2023 (in thousands) Regency's Ownership Number of Properties Total Investment Total Assets of the Partnership The Company's Share of Net Income of the Partnership Net Income of the Partnership GRI - Regency, LLC (GRIR) 40.00 % 66 $ 144,371 1,475,611 35,901 84,224 Columbia Regency Retail Partners, LLC (Columbia I) 20.00 % 7 7,045 139,224 1,630 8,559 Columbia Regency Partners II, LLC (Columbia II) 20.00 % 14 42,994 424,672 1,743 8,769 Columbia Village District, LLC 30.00 % 1 6,123 97,522 2,199 7,383 Individual Investors Ballard Bocks 49.90 % 2 62,140 120,379 1,486 3,297 Town & Country Center 35.00 % 1 42,074 224,579 1,075 3,136 Others (1) 11.80 % - 66.67 % 10 65,858 208,006 6,507 19,770 Total investments in real estate partnerships 101 $ 370,605 2,689,993 50,541 135,138 (1) New York Common Retirement Fund (NYC) and RegCal, LLC (RegCal) no longer have any operating properties and any residual balances have been included in Others as of December 31, 2023. The residual balances are primarily made up of the Company’s share of remaining working capital. December 31, 2022 (in thousands) Regency's Ownership Number of Properties Total Investment Total Assets of the Partnership The Company's Share of Net Income of the Partnership Net Income of the Partnership GRI - Regency, LLC (GRIR) 40.00 % 66 $ 155,302 1,501,876 35,819 83,989 New York Common Retirement Fund (NYC) (1) 30.00 % — 674 2,468 9,173 35,673 Columbia Regency Retail Partners, LLC (Columbia I) 20.00 % 7 7,423 138,493 1,817 9,392 Columbia Regency Partners II, LLC (Columbia II) 20.00 % 13 41,757 405,927 1,735 8,674 Columbia Village District, LLC 30.00 % 1 5,836 96,002 1,669 5,597 RegCal, LLC (RegCal) (2) 25.00 % 1 5,789 24,326 4,499 18,258 Individual Investors Ballard Bocks 49.90 % 2 62,624 126,482 1,300 2,925 Town & Country Center 35.00 % 1 40,409 206,931 819 2,404 Others 50.00 % 5 30,563 105,500 2,993 6,254 Total investments in real estate partnerships 96 $ 350,377 2,608,005 59,824 173,166 (1) On May 25, 2022, the NYC partnership sold the remaining two properties and distributed sales proceeds to the members. Dissolution will follow final distributions, which are expected in 2024. (2) During April 2022, we acquired our partner's 75 % share in four properties held in the RegCal, LLC, partnership for a total purchase price of $ 88.5 million. Upon acquisition, these four properties were consolidated into Regency's financial statements. |
Balance Sheet Summarized Financial Information | The summarized balance sheet information for the investments in real estate partnerships, on a combined basis, is as follows: December 31, (in thousands) 2023 2022 Investments in real estate, net $ 2,432,859 2,359,289 Acquired lease intangible assets, net 16,723 16,821 Other assets 240,411 231,895 Total assets $ 2,689,993 2,608,005 Notes payable $ 1,499,702 1,398,297 Acquired lease intangible liabilities, net 15,112 17,619 Other liabilities 80,457 81,714 Capital - Regency 418,205 412,784 Capital - Third parties 676,517 697,591 Total liabilities and capital $ 2,689,993 2,608,005 The following table reconciles the Company's capital recorded by the unconsolidated partnerships to the Company's investments in real estate partnerships reported in the accompanying Consolidated Balance Sheet: December 31, (in thousands) 2023 2022 Capital - Regency $ 418,205 412,784 Basis difference ( 47,600 ) ( 62,407 ) Investments in real estate partnerships $ 370,605 350,377 |
Schedule of Revenues and Expenses for Investments in Real Estate Partnerships | The revenues and expenses for the investments in real estate partnerships, on a combined basis, are summarized as follows: Year ended December 31, (in thousands) 2023 2022 2021 Total revenues $ 390,843 378,096 416,222 Operating expenses: Depreciation and amortization 88,974 86,193 94,026 Property operating expense 65,509 61,224 66,061 Real estate taxes 47,529 42,010 54,618 General and administrative 5,008 5,615 5,837 Other operating expenses 3,119 3,851 3,624 Total operating expenses $ 210,139 198,893 224,166 Other expense (income): Interest expense, net 56,706 54,874 58,109 Gain on sale of real estate ( 11,140 ) ( 49,424 ) ( 75,162 ) Early extinguishment of debt — 587 — Provision for impairment — — 9,833 Total other expense (income) 45,566 6,037 ( 7,220 ) Net income of the Partnerships $ 135,138 173,166 199,276 The Company's share of net income of the Partnerships $ 50,541 59,824 47,086 |
Schedule of Properties Disposed of | The following table provides a summary of consolidated shopping centers and land parcels sold during the periods set forth below: Year ended December 31, (in thousands, except number sold data) 2023 2022 2021 Net proceeds from sale of real estate investments $ 11,167 143,133 206,193 Gain on sale of real estate, net of tax $ 661 109,005 91,119 Provision for impairment of real estate sold $ — — 112 Number of operating properties sold — 2 7 Number of land parcels sold 5 5 5 Percent interest sold 100 % 100 % 100 % |
Scheduled Principal Repayments on Notes Payable | Scheduled principal repayments on notes payable held by our unconsolidated investments in real estate partnerships as of December 31, 2023, were as follows: (in thousands) Scheduled Mortgage Unsecured Total Regency's 2024 $ 3,718 33,690 — 37,408 14,678 2025 6,094 147,222 — 153,316 48,506 2026 7,393 233,147 41,800 282,340 89,520 2027 7,576 32,800 — 40,376 13,669 2028 4,267 246,605 — 250,872 92,027 Beyond 5 Years 6,688 739,324 — 746,012 280,328 Net unamortized loan costs, debt premium / (discount) — ( 10,622 ) — ( 10,622 ) ( 3,872 ) Total notes payable $ 35,736 1,422,166 41,800 1,499,702 534,856 |
Schedule of Related Party Transactions | In addition to earning our Pro-rata share of net income or loss in each of these real estate partnerships, we receive fees as discussed in Note 1, as follows: Year ended December 31, (in thousands) 2023 2022 2021 Asset management, property management, leasing, and investment and financing services $ 26,954 25,851 40,301 (1) (1) In connection with the USAA partnership, we received and recognized a one-time promote fee of $ 13.6 million during the year ended December 31, 2021, in consideration for exceeding return thresholds resulting from our performance as managing member. |
Unconsolidated Properties [Member] | |
Schedule of Equity Method Investments [Line Items] | |
Components of Purchase Price | The following table provides a summary of shopping centers and land parcels acquired through our unconsolidated real estate partnerships for the periods set forth below: (in thousands) Year ended December 31, 2023 Date Property City/State Property Real Estate Partner Ownership Purchase Price (1) Debt Assumed, Net of Premiums (1) Intangible Assets (1) Intangible Liabilities (1) 9/19/2023 Old Town Square Chicago, IL Operating Other 20 % 27,510 — 3,625 503 Total property acquisitions $ 27,510 — 3,625 503 (1) Amounts reflected for purchase price and allocation are reflected at 100 %. (in thousands) Year ended December 31, 2022 Date Property City/State Property Real Estate Partner Ownership Purchase Price (1) Debt Assumed, Net of Premiums (1) Intangible Assets (1) Intangible Liabilities (1) 03/25/22 Naperville Plaza Naperville, IL Operating Columbia II 20.00 % $ 52,380 22,074 4,336 814 06/24/22 Baybrook East 1B Houston, TX Development Other 50.00 % $ 5,540 — — — Total property acquisitions $ 57,920 22,074 4,336 814 (1) Amounts reflected for purchase price and allocation are reflected at 100 %. |
Schedule of Properties Disposed of | The following table provides a summary of shopping centers and land parcels disposed of through our unconsolidated real estate partnerships: Year ended December 31, (in thousands) 2023 2022 2021 Proceeds from sale of real estate investments $ 30,659 116,377 224,708 Gain on sale of real estate $ 11,140 49,424 75,162 The Company's share of gain on sale of real estate $ 3,161 12,748 9,380 Number of operating properties sold 1 4 4 Number of land out-parcels sold — — 1 |
Other Assets (Tables)
Other Assets (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Other Assets [Abstract] | |
Schedule of Other Assets | The following table represents the components of Other assets in the accompanying Consolidated Balance Sheets as of the periods set forth below: (in thousands) December 31, 2023 December 31, 2022 Goodwill $ 167,062 167,062 Investments 51,992 54,581 Prepaid and other 40,635 28,615 Derivative assets 14,213 6,575 Furniture, fixtures, and equipment, net 6,662 5,808 Deferred financing costs, net 2,865 5,156 Total other assets $ 283,429 267,797 |
Schedule of Goodwill | The following table presents the goodwill balances and activity during the year to date periods ended: December 31, 2023 December 31, 2022 (in thousands) Goodwill Accumulated Total Goodwill Accumulated Total Beginning of year balance $ 300,496 ( 133,434 ) 167,062 $ 300,529 ( 133,434 ) 167,095 Goodwill allocated to Properties held for sale ( 5,972 ) 5,972 — — — — Goodwill associated with disposed reporting units: Goodwill allocated to Gain on sale of real estate — — — ( 33 ) — ( 33 ) End of year balance $ 294,524 ( 127,462 ) 167,062 $ 300,496 ( 133,434 ) 167,062 |
Acquired Lease Intangibles (Tab
Acquired Lease Intangibles (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of Net Accumulated Amortization and Accretion | The Company had the following acquired lease intangibles as of the periods set forth below: December 31, (in thousands) 2023 2022 In-place leases $ 543,892 452,868 Above-market leases 103,896 82,930 Total intangible assets 647,788 535,798 Accumulated amortization ( 364,413 ) ( 338,053 ) Acquired lease intangible assets, net $ 283,375 197,745 Below-market leases 609,369 547,519 Accumulated amortization ( 211,067 ) ( 193,315 ) Acquired lease intangible liabilities, net $ 398,302 354,204 The following table provides a summary of amortization and net accretion amounts from acquired lease intangibles: Year ended December 31, (in thousands) 2023 2022 2021 Line item in Consolidated Statements of Operations In-place lease amortization $ 44,102 34,568 33,621 Depreciation and amortization Above-market lease amortization 6,571 5,828 5,487 Lease income Acquired lease intangible asset amortization $ 50,673 40,396 39,108 Below-market lease amortization $ 37,831 28,642 30,378 Lease income |
Schedule of Future Amortization Expense and Minimum Rent | The estimated aggregate amortization and net accretion amounts from acquired lease intangibles for the next five years are as follows: (in thousands) In Process Year Ending Amortization of Net accretion of Above 2024 $ 45,098 22,598 2025 33,012 21,953 2026 26,791 21,216 2027 21,185 20,207 2028 16,764 20,065 |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Leases [Abstract] | |
Operating Lease, Lease Income | The following table provides a disaggregation of lease income recognized as either fixed or variable lease income based on the criteria specified in Topic 842: (in thousands) December 31, 2023 December 31, 2022 December 31, 2021 Operating lease income Fixed and in-substance fixed lease income $ 928,364 851,409 797,502 Variable lease income 324,037 287,149 262,619 Other lease related income, net: Above/below market rent and tenant rent inducement amortization, net 30,826 22,543 24,539 Uncollectible straight-line rent 1,261 12,510 5,227 Uncollectible amounts billable in lease income ( 549 ) 13,841 23,481 Total lease income $ 1,283,939 1,187,452 1,113,368 |
Lessor, Operating Lease, Payments to be Received, Maturity | Future minimum rents under non-cancelable operating leases, excluding variable lease payments, are as follows: (in thousands) For the year ended December 31, December 31, 2023 2024 $ 972,980 2025 872,330 2026 757,633 2027 633,290 2028 480,640 Thereafter 1,740,783 Total $ 5,457,656 |
Lessee, Operating Lease Costs, Description | Operating lease expense under the Company's ground and office leases were as follows, including straight-line rent expense and variable lease expenses such as CPI increases, percentage rent and reimbursements of landlord costs: (in thousands) December 31, 2023 December 31, 2022 December 31, 2021 Fixed operating lease expense Ground leases $ 14,727 13,759 13,862 Office leases 4,103 4,162 4,309 Total fixed operating lease expense 18,830 17,921 18,171 Variable lease expense Ground leases 1,586 1,591 1,032 Office leases 729 611 615 Total variable lease expense 2,315 2,202 1,647 Total lease expense $ 21,145 20,123 19,818 Cash paid for amounts included in the measurement of operating lease liabilities Operating cash flows for operating leases $ 15,823 14,656 15,165 |
Lessee, Operating Lease, Liability, Maturity | The following table summarizes the undiscounted future cash flows by year attributable to the operating lease liabilities for ground and office leases as of December 31, 2023, and provides a reconciliation to the Lease liability included in the accompanying Consolidated Balance Sheets: (in thousands) Lease Liabilities For the year ended December 31, Ground Leases Office Leases Total 2024 $ 12,955 3,082 16,037 2025 12,962 3,464 16,426 2026 12,883 3,331 16,214 2027 12,909 2,151 15,060 2028 13,051 1,305 14,356 Thereafter 702,602 312 702,914 Total undiscounted lease liabilities $ 767,362 13,645 781,007 Present value discount ( 533,777 ) ( 1,167 ) ( 534,944 ) Lease liabilities $ 233,585 12,478 246,063 Weighted average discount rate 5.5 % 3.7 % Weighted average remaining term (in years) 49.4 4.1 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Income Tax Disclosure [Abstract] | |
Schedule of Tax Status of Dividends | The following table summarizes the tax status of dividends paid on our common stock: Year ended December 31, 2023 2022 2021 Dividend per share $ 2.56 (1) 2.53 (2) 2.53 (3) Ordinary income 100 % 100 % 92 % Capital gain (4) — % — % 8 % Additional tax status information: Qualified dividend income — % — % 1 % Section 199A dividend 100 % 100 % 91 % Section 897 ordinary dividends — % — % 2 % Section 897 capital gains — % — % 4 % (1) During 2023, the Company declared four quarterly dividends, the last of which was paid on January 3, 2024, with a portion allocated to the 2023 dividend period, and the balance allocated to 2024. (2) During 2022, the Company declared four quarterly dividends, the last of which was paid on January 4, 2023, with a portion allocated to the 2022 dividend period, and the balance allocated to 2023. (3) During 2021, the Company declared four quarterly dividends, the last of which was paid on January 5, 2022, with a portion allocated to the 2021 dividend period, and the balance allocated to 2022. (4) Of the total capital gain distribution during 2021, 42 % is excluded under Reg. 1.1061-4(b)(7). The remaining 58 % is a Three Year Amount under Reg. 1.1061-6(c). The following table summarizes the tax status of dividends paid on our Series A preferred stock: Year ended December 31, 2023 Dividend per share $ 0.39 Ordinary income 100 % Capital gain — % Additional tax status information: Qualified dividend income — % Section 199A dividend 100 % Section 897 ordinary dividends — % Section 897 capital gains — % The following table summarizes the tax status of dividends paid on our Series B preferred stock: Year ended December 31, 2023 Dividend per share $ 0.37 Ordinary income 100 % Capital gain — % Additional tax status information: Qualified dividend income — % Section 199A dividend 100 % Section 897 ordinary dividends — % Section 897 capital gains — % |
Schedule of Components of Income Tax Expense (Benefit) | Our consolidated expense (benefit) for income taxes for the years ended December 31, 2023, 2022, and 2021 was as follows: Year ended December 31, (in thousands) 2023 2022 2021 Income tax expense (benefit): Current $ 796 ( 332 ) 620 Deferred 99 293 421 Total income tax expense (benefit) (1) $ 895 ( 39 ) 1,041 (1) Included within Other operating expenses in the Consolidated Statements of Operations. |
Schedule of Effective Income Tax Rate Reconciliation | The TRS entities are subject to federal and state income taxes and file separate tax returns. Income tax expense (benefit) differed from the amounts computed by applying the U.S. Federal income tax rate to pretax income of the TRS entities, as follows: Year ended December 31, (in thousands) 2023 2022 2021 Computed expected tax expense (benefit) $ 371 504 544 State income tax, net of federal benefit 60 52 477 Valuation allowance 227 ( 323 ) 15 Permanent items 2 1 1 All other items 235 ( 273 ) 4 Total income tax expense (1) 895 ( 39 ) 1,041 Income tax expense attributable to operations (1) $ 895 ( 39 ) 1,041 (1) Included within Other operating expenses in the Consolidated Statements of Operations. |
Schedule of Deferred Tax Assets and Liabilities | The tax effects of temporary differences (included in Accounts payable and other liabilities in the accompanying Consolidated Balance Sheets) are summarized as follows: December 31, (in thousands) 2023 2022 Deferred tax assets Other 1,893 1,007 Deferred tax assets 1,893 1,007 Valuation allowance ( 1,893 ) ( 1,007 ) Deferred tax assets, net $ — — Deferred tax liabilities Fixed assets ( 12,563 ) ( 12,527 ) Other ( 780 ) ( 61 ) Deferred tax liabilities ( 13,343 ) ( 12,588 ) Net deferred tax liabilities $ ( 13,343 ) ( 12,588 ) |
Notes Payable and Unsecured C_2
Notes Payable and Unsecured Credit Facility (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Debt Disclosure [Abstract] | |
Schedule of Debt | The Company's outstanding debt, net of unamortized debt premium (discount) and debt issuance costs, consisted of the following as of the dates set forth below: Maturing Weighted Weighted December 31, (in thousands) 2023 2022 Notes payable: Fixed rate mortgage loans 6/1/2037 3.8 % 4.2 % $ 449,615 342,135 Variable rate mortgage loans (1) 1/31/2032 4.2 % 4.3 % 299,579 136,246 Fixed rate unsecured debt 3/15/2049 3.8 % 4.0 % 3,252,755 3,248,373 Total notes payable 4,001,949 3,726,754 Unsecured credit facilities: $ 1.25 Billion Line of Credit (the "Line") (2) 3/23/2025 6.3 % 6.6 % 152,000 — Total unsecured credit facilities 152,000 — Total debt outstanding $ 4,153,949 3,726,754 (1) As of December 31, 2023, 15 of these 17 variable rate loans, representing $ 294.9 million of debt in the aggregate, have interest rate swaps in place to mitigate interest rate fluctuation risk. Based on these swap agreements, the effective fixed rates of the 15 loans range from 2.5 % to 6.7 % . (2) Weighted average effective rate for the Line is calculated based on a fully drawn Line balance using the period end variable rate. In January 2024, the Company amended its Line to, among other items, increase the borrowing capacity to $ 1.5 billion and to extend the expiration date to March, 2028 with the option to extend the expiration for two additional six-month period . |
Schedule of Maturities of Long-term Debt | Scheduled principal payments and maturities on notes payable and unsecured credit facilities were as follows: (in thousands) December 31, 2023 Scheduled Principal Payments and Maturities by Year: Scheduled Mortgage Unsecured (1) Total 2024 $ 12,398 133,580 250,000 395,978 2025 11,094 52,537 402,000 465,631 2026 11,426 147,847 200,000 359,273 2027 8,612 222,558 525,000 756,170 2028 7,011 36,570 300,000 343,581 Beyond 5 Years 8,070 106,130 1,750,000 1,864,200 Unamortized debt premium/(discount) and issuance costs — ( 8,640 ) ( 22,244 ) ( 30,884 ) Total $ 58,611 690,582 3,404,756 4,153,949 (1) Includes unsecured public and private debt and unsecured credit facilities . |
Derivative Instruments (Tables)
Derivative Instruments (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Schedule of derivative instruments | The following table summarizes the terms and fair values of the Company's derivative financial instruments, as well as their classification on the Consolidated Balance Sheets: Fair Value at December 31, (in thousands) Assets (Liabilities) (1) Effective Maturity Notional Bank Pays Variable Regency Pays 2023 2022 12/1/22 3/17/25 24,000 SOFR 1.443 % 873 1,443 12/16/22 6/2/27 34,873 SOFR 2.261 % 1,540 2,158 1/17/23 (2) 8/15/24 13,033 SOFR 3.995 % 196 - 7/17/17 (2) 7/1/27 43,150 SOFR 1.498 % 3,041 - 9/21/16 (2) 10/1/26 8,768 SOFR 1.475 % 526 - 8/16/18 (2) 8/15/28 8,764 SOFR 4.830 % 214 - 3/18/19 (2) 4/1/29 23,078 SOFR 3.165 % 473 - 2/1/2 2 (2) 2/1/32 33,667 SOFR 3.053 % 4,879 - 1/3/23 (2) 7/1/29 10,944 SOFR 3.633 % 861 - 1/3/23 (2) 11/1/24 5,000 SOFR 3.705 % 106 - 2/24/23 12/31/26 15,342 SOFR 4.229 % ( 212 ) 152 2/21/23 12/21/26 24,365 SOFR 1.684 % 1,386 1,939 9/19/23 9/19/28 30,919 SOFR 4.314 % ( 1,008 ) 883 10/31/17 (2) 10/1/24 6,025 SOFR 2.334 % 118 - 12/1/23 12/1/26 13,000 SOFR 4.060 % ( 115 ) - Total derivative financial instruments $ 12,878 6,575 (1) Derivatives in an asset position are included within Other assets in the accompanying Consolidated Balance Sheets, while those in a liability position are included within Accounts payable and other liabilities. (2) Derivative instruments assumed as part of the UBP acquisitions. |
Derivative Instruments, Gain (Loss) | The following table represents the effect of the derivative financial instruments on the accompanying Consolidated Financial Statements: Location and Amount of Gain (Loss) Location and Amount of Loss (Gain) Total amounts presented in the Consolidated Year ended December 31, Year ended December 31, Year ended December 31, (in thousands) 2023 2022 2021 2023 2022 2021 2023 2022 2021 Interest $ ( 2,448 ) 20,061 5,391 Interest $ ( 7,536 ) 833 4,141 Interest $ 154,249 146,186 145,170 Early extinguishment of debt $ ( 99 ) — — |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Fair Value Disclosures [Abstract] | |
Summary of Balance Sheet Fair Values | All financial instruments of the Company are reflected in the accompanying Consolidated Balance Sheets at amounts which, in management's estimation, reasonably approximate their fair values, except for the following: December 31, 2023 2022 (in thousands) Carrying Fair Value Carrying Fair Value Financial assets: Notes receivable $ 2,109 2,109 $ — — Financial liabilities: Notes payable, net $ 4,001,949 3,763,152 $ 3,726,754 3,333,378 Unsecured credit facilities $ 152,000 152,000 $ — — |
Summary of Assets and Liabilities Measured at Fair Value on Recurring Basis | The following tables present the placement in the fair value hierarchy of assets and liabilities that are measured at fair value on a recurring basis: Fair Value Measurements as of December 31, 2023 (in thousands) Balance Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Assets: Securities $ 37,039 37,039 — — Available-for-sale debt securities 14,953 — 14,953 — Interest rate derivatives 14,213 — 14,213 — Total $ 66,205 37,039 29,166 — Liabilities: Interest rate derivatives $ ( 1,335 ) — ( 1,335 ) — Fair Value Measurements as of December 31, 2022 (in thousands) Balance Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Assets: Securities $ 40,089 40,089 — — Available-for-sale debt securities 14,492 — 14,492 — Interest rate derivatives 6,575 — 6,575 — Total $ 61,156 40,089 21,067 — |
Equity and Capital (Tables)
Equity and Capital (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Equity And Capital [Abstract] | |
Summary of Terms and Conditions of Preferred Stock Outstanding | Terms and conditions of the preferred stock outstanding are summarized as follows: Preferred Stock Outstanding as of December 31, 2023 Date of Issuance Shares Issued and Outstanding Liquidation Preference Distribution Rate Callable By Company Series A 8/18/2023 4,600,000 $ 115,000,000 6.250 % On demand Series B 8/18/2023 4,400,000 110,000,000 5.875 % On or after 10/1/2024 9,000,000 $ 225,000,000 |
Schedule of Partnership Units Outstanding | The Parent Company, as general partner, owned the following Partnership Units outstanding: December 31, (in thousands) 2023 2022 Partnership units owned by the general partner 184,581 171,125 Partnership units owned by the limited partners 1,108 741 Total partnership units outstanding 185,689 171,866 Percentage of partnership units owned by the general partner 99.4 % 99.6 % |
Stock-Based Compensation (Table
Stock-Based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Share-Based Payment Arrangement [Abstract] | |
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award | The Company recorded stock-based compensation in General and administrative expenses in the accompanying Consolidated Statements of Operations, the components of which are further described below: Year ended December 31, (in thousands) 2023 2022 2021 Restricted stock (1) $ 17,277 16,667 12,651 Directors' fees paid in common stock and other employee stock grants 590 589 530 Capitalized stock-based compensation ( 954 ) ( 735 ) ( 666 ) Stock-based compensation, net of capitalization $ 16,913 16,521 12,515 (1) Includes amortization of the grant date fair value of restricted stock awards over the respective vesting periods . |
Schedule of Nonvested Share Activity | The following table summarizes non-vested restricted stock activity: Year ended December 31, 2023 Number of Shares Intrinsic Value (in thousands) Weighted Average Grant Price Non-vested as of December 31, 2022 711,699 Time-based awards granted (1) (4) 162,616 $ 66.62 Performance-based awards granted (2) (4) 15,882 $ 67.53 Market-based awards granted (3) (4) 129,305 $ 70.47 Change in market-based awards earned for performance (3) 36,483 $ 66.78 Vested (5) ( 299,938 ) $ 65.74 Forfeited ( 1,529 ) $ 65.38 Non-vested as of December 31, 2023 (6) 754,518 $ 50,553 (1) Time-based awards vest beginning on the first anniversary following the grant date over a one or four year service period . These grants are subject only to continued employment and are not dependent on future performance measures. Accordingly, if such vesting criteria are not met, compensation cost previously recognized would be reversed. (2) Performance-based awards are earned subject to future performance measurements. Once the performance criteria are achieved and the actual number of shares earned is determined, shares vest over a required service period. The Company considers the likelihood of meeting the performance criteria based upon management's estimates from which it determines the amounts recognized as expense on a periodic basis. (3) Market-based awards are earned dependent upon the Company's total shareholder return in relation to the shareholder return of a NAREIT index over a three-year period. Once the performance criteria are met and the actual number of shares earned is determined, the shares are immediately vested and distributed. The probability of meeting the criteria is considered when calculating the estimated fair value on the date of grant using a Monte Carlo simulation. These awards are accounted for as awards with market criteria, with compensation cost recognized over the service period, regardless of whether the performance criteria are achieved and the awards are ultimately earned. The significant assumptions underlying determination of fair values for market-based awards granted were as follows: Year ended December 31, 2023 2022 2021 Volatility 45.50 % 43.10 % 42.60 % Risk free interest rate 3.75 % 1.39 % 0.18 % (4) The weighted-average grant price for restricted stock granted during the years is summarized below: Year ended December 31, 2023 2022 2021 Weighted-average grant price for restricted stock $ 68.28 $ 72.86 $ 46.55 (5) The total intrinsic value of restricted stock vested during the years is summarized below (in thousands): Year ended December 31, 2023 2022 2021 Intrinsic value of restricted stock vested $ 19,717 $ 17,797 $ 10,939 (6) As of December 31, 2023, there was $ 20.3 million of unrecognized compensation cost related to non-vested restricted stock granted under the Parent Company's Plan . When recognized, this compensation results in additional paid in capital in the accompanying Consolidated Statements of Equity of the Parent Company and in general partner preferred and common units in the accompanying Consolidated Statements of Capital of the Operating Partnership. This unrecognized compensation cost is expected to be recognized over the next three years . The Company issues new restricted stock from its authorized shares available at the date of grant. |
Saving and Retirement Plans (Ta
Saving and Retirement Plans (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Retirement Benefits [Abstract] | |
Summary of balances of the assets and deferred compensation liabilities of the Rabbi trust and related participant account obligations | The following table reflects the balances of the assets and deferred compensation liabilities of the Rabbi trust and related participant account obligations in the accompanying Consolidated Balance Sheets, excluding Regency stock: Year ended December 31, (in thousands) 2023 2022 Location in Consolidated Balance Sheets Assets: Securities $ 31,852 36,163 Other assets Liabilities: Deferred compensation obligation $ 31,770 36,085 Accounts payable and other liabilities |
Earnings per Share and Unit (Ta
Earnings per Share and Unit (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Schedule of earnings per share | The following summarizes the calculation of basic and diluted earnings per share: Year ended December 31, (in thousands, except per share data) 2023 2022 2021 Numerator: Income attributable to common shareholders - basic $ 359,500 482,865 361,411 Income attributable to common shareholders - diluted $ 359,500 482,865 361,411 Denominator: Weighted average common shares outstanding for basic EPS 176,085 171,404 170,236 Weighted average common shares outstanding for diluted EPS (1) (2) 176,371 171,791 170,694 Income per common share – basic $ 2.04 2.82 2.12 Income per common share – diluted $ 2.04 2.81 2.12 (1) Includes the dilutive impact of unvested restricted stock. (2) Using the treasury stock method, weighted average common shares outstanding for basic and diluted earnings per share exclude 1.0 million shares issuable under the forward ATM equity offering outstanding during 2021 as they would be anti-dilutive. |
Partnership Interest [Member] | |
Schedule of earnings per share | The following summarizes the calculation of basic and diluted earnings per unit ("EPU"): Year ended December 31, (in thousands, except per share data) 2023 2022 2021 Numerator: Income attributable to common unit holders - basic $ 361,508 484,970 363,026 Income attributable to common unit holders - diluted $ 361,508 484,970 363,026 Denominator: Weighted average common units outstanding for basic EPU 177,038 172,152 170,998 Weighted average common units outstanding for diluted EPU (1) (2) 177,324 172,540 171,456 Income per common unit – basic $ 2.04 2.82 2.12 Income per common unit – diluted $ 2.04 2.81 2.12 (1) Includes the dilutive impact of unvested restricted stock. (2) Using the treasury stock method, weighted average common shares outstanding for basic and diluted earnings per share exclude 1.0 million shares issuable under the forward ATM equity offering outstanding during 2021 as they would be anti-dilutive. |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies - Additional Information (Details) $ / shares in Units, $ in Thousands | 12 Months Ended | ||||
Aug. 18, 2023 $ / shares | May 17, 2023 | Dec. 31, 2023 USD ($) ft² TenantAccount RetailShoppingCenter ShoppingCenter $ / shares shares | Dec. 31, 2022 USD ($) $ / shares shares | Dec. 31, 2021 USD ($) | |
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | |||||
Unsecured public and private notes | $ 200,000 | ||||
Conversion of Stock, Description | The combined company continues to trade under the ticker symbol “REG” on the National Association of Securities Dealers Automated Quotations (the “NASDAQ”). The closing of the mergers completed on August 18, 2023 and each share of Urstadt Biddle’s common stock, par value $0.01 per share (“Urstadt Biddle common stock”), class A common stock, par value $0.01 per share (“Urstadt Biddle Class A common stock” and, together with Urstadt Biddle common stock, the “Urstadt Biddle common shares”), 6.25% Series H Cumulative Redeemable Preferred Stock and 5.875% Series K Cumulative Redeemable Preferred Stock converted into one equivalent share in UB Sub I, with respect to each class, subject to limited exceptions set forth in the merger agreement. Immediately thereafter, on August 18, 2023, each share of UB Sub I’s common stock, par value $0.01 per share, and class A common stock, par value $0.01 per share, converted into 0.347 of a share of common stock, par value $0.01 per share, of common stock of the Parent Company, without interest and subject to certain adjustments, subject to limited exceptions set forth in the merger agreement, and each share of UB Sub I’s 6.25% Series H Cumulative Redeemable Preferred Stock and 5.875% Series K Cumulative Redeemable Preferred Stock was converted into one share of newly issued Parent Company 6.25% Series A Cumulative Redeemable Preferred Stock (“Parent Company Series A preferred stock”) and 5.875% Series B Cumulative Redeemable Preferred Stock (“Parent Company Series B preferred stock”), respectively (collectively referred to as the “Preferred Stock”). | ||||
Common stock, par value per share | $ / shares | $ 0.01 | $ 0.01 | |||
General partners' capital account, units outstanding | shares | 184,581,000 | 171,125,000 | |||
Partners' capital account, units | shares | 185,688,524 | 171,866,000 | |||
Tenant and other receivables | $ 206,162 | $ 188,863 | |||
Pre-development costs | 100 | 600 | $ 1,500 | ||
Restricted cash and cash equivalent | $ 6,383 | 2,310 | |||
Cash and cash equivalents and restricted original maturity | 90 days or less | ||||
Percentage of pro-rata annual base rent | 20% | ||||
Number of tenant | TenantAccount | 0 | ||||
Number of shopping center | ShoppingCenter | 0 | ||||
Management, transaction, and other fee [Member] | |||||
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | |||||
Tenant and other receivables | $ 18,500 | 16,400 | |||
Parent Company [Member] | |||||
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | |||||
Restricted cash and cash equivalent | $ 6,400 | 2,300 | |||
Leases less than 10,000 sqft [Member] | |||||
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | |||||
Operating leases, tenant space terms | ft² | 10,000 | ||||
Leases greater then 10,000 sqft [Member] | |||||
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | |||||
Operating leases, tenant space terms | ft² | 10,000 | ||||
Minimum [Member] | |||||
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | |||||
Expected useful lives of the properties and other intangible assets | 10 years | ||||
Operating leases, lease year range | 3 years | ||||
Operating leases, lease year range for tenant space greater than 10,000 sq ft | 5 years | ||||
Maximum [Member] | |||||
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | |||||
Expected useful lives of the properties and other intangible assets | 40 years | ||||
Operating leases, lease year range | 7 years | ||||
Maximum [Member] | Revenue [Member] | Customer Concentration Risk [Member] | |||||
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | |||||
Concentration risk, percentage | 10% | ||||
Merger Agreement [Member] | |||||
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | |||||
Merger agreement date | May 17, 2023 | ||||
Merger One [Member] | Common Stock [Member] | |||||
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | |||||
Stock conversion ratio | 1 | ||||
Merger One [Member] | Urstadt Biddle Common Stock [Member] | |||||
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | |||||
Common stock, par value per share | $ / shares | $ 0.01 | ||||
Merger One [Member] | Urstadt Biddle Class A common Stock [Member] | |||||
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | |||||
Common stock, par value per share | $ / shares | $ 0.01 | ||||
Merger One [Member] | 6.25% Series H Cumulative Redeemable Preferred Stock [Member] | |||||
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | |||||
Debt instrument interest rate stated percentage | 6.25% | ||||
Merger One [Member] | 5.875% Series K Cumulative Redeemable Preferred Stock [Member] | |||||
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | |||||
Debt instrument interest rate stated percentage | 5.875% | ||||
Merger Two [Member] | Common Stock [Member] | |||||
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | |||||
Stock conversion ratio | 0.347 | ||||
Merger Two [Member] | Urstadt Biddle Class A common Stock [Member] | |||||
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | |||||
Common stock, par value per share | $ / shares | $ 0.01 | ||||
Merger Two [Member] | UB Sub I common Stock [Member] | |||||
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | |||||
Common stock, par value per share | $ / shares | $ 0.01 | ||||
Merger Two [Member] | 6.25% Series H Cumulative Redeemable Preferred Stock [Member] | |||||
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | |||||
Debt instrument interest rate stated percentage | 6.25% | ||||
Merger Two [Member] | 5.875% Series K Cumulative Redeemable Preferred Stock [Member] | |||||
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | |||||
Debt instrument interest rate stated percentage | 5.875% | ||||
Merger Two [Member] | 6.250% Series A Cumulative Redeemable Preferred Stock [Member] | |||||
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | |||||
Debt instrument interest rate stated percentage | 6.25% | ||||
Merger Two [Member] | 5.875% Series B Cumulative Redeemable Preferred Stock [Member] | |||||
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | |||||
Debt instrument interest rate stated percentage | 5.875% | ||||
Merger Two [Member] | Cumulative Redeemable Preferred Stock [Member] | |||||
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | |||||
Stock conversion ratio | 1 | ||||
UBP Acquisition [Member] | Common Stock [Member] | |||||
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | |||||
Common stock, par value per share | $ / shares | $ 0.01 | ||||
Land Improvements [Member] | |||||
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | |||||
Property, plant and equipment, useful life | 15 years | ||||
Building and Improvements [Member] | |||||
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | |||||
Property, plant and equipment, useful life | 40 years | ||||
Refundable deposits - development | |||||
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | |||||
Nonrefundable deposits and other predevelopment costs | $ 7,700 | 6,900 | |||
Operating Partnership [Member] | |||||
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | |||||
Ownership percentage of outstanding common partnership units | 99.40% | ||||
General partners' capital account, units outstanding | shares | 184,581,070 | ||||
Parent company, ownership percentage of outstanding common partnership units of operating partnership | 99.40% | ||||
Wholly Owned Properties [Member] | |||||
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | |||||
Number of operating properties | RetailShoppingCenter | 381 | ||||
Unconsolidated Properties [Member] | |||||
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | |||||
Number of operating properties | RetailShoppingCenter | 101 | ||||
Partially Owned Properties [Member] | |||||
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | |||||
Number of operating properties | RetailShoppingCenter | 119 | ||||
Consolidated Properties [Member] | |||||
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | |||||
Number of operating properties | RetailShoppingCenter | 18 | ||||
Development and Redevelopment [Member] | |||||
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | |||||
Interest costs capitalized | $ 5,700 | 4,200 | 4,200 | ||
Maximum period of time in company capitalizes interest costs | 12 months | ||||
Development [Member] | |||||
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | |||||
Internal costs for employees directly related to development and redevelopment program | $ 13,300 | $ 10,800 | $ 11,300 |
Summary of Significant Accoun_5
Summary of Significant Accounting Policies - Schedule of Variable Interest Entities (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Variable Interest Entity [Line Items] | ||
Variable interest entity, consolidated, carrying amount, assets | $ 12,426,913 | $ 10,860,220 |
Variable interest entity, consolidated, carrying amount, liabilities | 5,234,978 | 4,682,181 |
Noncontrolling interest in variable interest entity | 88,794 | 24,364 |
Variable Interest Entity, Primary Beneficiary [Member] | Notes Payable [Member] | ||
Variable Interest Entity [Line Items] | ||
Variable interest entity, consolidated, carrying amount, liabilities | 33,211 | 4,188 |
Variable Interest Entity, Primary Beneficiary [Member] | Net Real Estate Investments [Member] | ||
Variable Interest Entity [Line Items] | ||
Variable interest entity, consolidated, carrying amount, assets | 270,674 | 107,725 |
Variable Interest Entity, Primary Beneficiary [Member] | Cash, Cash Equivalents, and Restricted Cash [Member] | ||
Variable Interest Entity [Line Items] | ||
Variable interest entity, consolidated, carrying amount, assets | $ 8,201 | $ 2,420 |
Summary of Significant Accoun_6
Summary of Significant Accounting Policies - Components of Tenant and Other Receivables, Net (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Tenant and other receivables, net | $ 206,162 | $ 188,863 | |
Tenant Receivables [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Tenant and other receivables, net | 34,814 | 31,486 | |
Straight-line Rent Receivables [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Tenant and other receivables, net | 138,590 | 128,214 | |
Other Receivable [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Tenant and other receivables, net | [1] | $ 32,758 | $ 29,163 |
[1] Other receivables include construction receivables, insurance receivables, and amounts due from real estate partnerships for Management, transaction and other fee income. |
Summary of Significant Accoun_7
Summary of Significant Accounting Policies - Components of Revenue Streams, Timing of Satisfying Performance Obligations, and Amounts (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | ||
Product Information [Line Items] | ||||
Management, transaction, and other fees | $ 26,954 | $ 25,851 | $ 40,337 | |
Property management services [Member] | ||||
Product Information [Line Items] | ||||
Management, transaction, and other fees | $ 14,075 | 13,470 | 14,415 | |
Timing of satisfaction of performance obligations | Over time | |||
Asset management services [Member] | ||||
Product Information [Line Items] | ||||
Management, transaction, and other fees | $ 6,542 | 6,752 | 6,921 | |
Timing of satisfaction of performance obligations | Over time | |||
Promote income [Member] | ||||
Product Information [Line Items] | ||||
Management, transaction, and other fees | [1] | 13,589 | ||
Timing of satisfaction of performance obligations | Over time | |||
Leasing services [Member] | ||||
Product Information [Line Items] | ||||
Management, transaction, and other fees | $ 3,908 | 3,945 | 4,096 | |
Timing of satisfaction of performance obligations | Point in time | |||
Other transaction fees [Member] | ||||
Product Information [Line Items] | ||||
Management, transaction, and other fees | $ 2,429 | $ 1,684 | $ 1,316 | |
Timing of satisfaction of performance obligations | Point in time | |||
[1] The Company recog nized $ 13.6 million in p romote revenue during the year ended December 31, 2021, for exceeding partnership return hurdles from the Company's performance as managing member in the USAA partnership. The consideration was paid in the form of a real estate asset. |
Summary of Significant Accoun_8
Summary of Significant Accounting Policies - Components of Revenue Streams, Timing of Satisfying Performance Obligations, and Amounts (Parenthetical) (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | ||
Product Information [Line Items] | ||||
Management, transaction, and other fees | $ 26,954 | $ 25,851 | $ 40,337 | |
Promote income [Member] | ||||
Product Information [Line Items] | ||||
Management, transaction, and other fees | [1] | $ 13,589 | ||
[1] The Company recog nized $ 13.6 million in p romote revenue during the year ended December 31, 2021, for exceeding partnership return hurdles from the Company's performance as managing member in the USAA partnership. The consideration was paid in the form of a real estate asset. |
Summary of Significant Accoun_9
Summary of Significant Accounting Policies - Components of Real Estate Assets (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Property Plant And Equipment [Line Items] | ||
Total real estate assets | $ 13,454,391 | $ 11,858,064 |
Parent Company [Member] | ||
Property Plant And Equipment [Line Items] | ||
Land | 4,802,583 | 4,379,877 |
Land improvements | 758,779 | 707,227 |
Buildings | 6,371,894 | 5,465,877 |
Building and tenant improvements | 1,302,954 | 1,171,650 |
Construction in progress | 218,181 | 133,433 |
Total real estate assets | $ 13,454,391 | $ 11,858,064 |
Summary of Significant Accou_10
Summary of Significant Accounting Policies - Schedule of New Accounting Pronouncements and Changes in Accounting Principles (Details) | 12 Months Ended | |
Jan. 01, 2024 | Dec. 31, 2023 | |
ASU 2020-04 [Member] | ||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
Change in accounting principle accounting standards update adopted | true | |
New Accounting Pronouncement or Change in Accounting Principle, Description | ASU 2020-04 | |
Change in accounting principle, accounting standards update, adoption date | Mar. 01, 2020 | |
ASU 2021-08 [Member] | ||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
Change in accounting principle accounting standards update adopted | true | |
New Accounting Pronouncement or Change in Accounting Principle, Description | ASU 2021-08 | |
Change in accounting principle, accounting standards update, adoption date | Jan. 01, 2023 | |
Change in accounting principle, accounting standards update, immaterial effect [true false] | true | |
ASU 2023-07 [Member] | Subsequent Event [Member] | ||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
Change in accounting principle accounting standards update adopted | true | |
New Accounting Pronouncement or Change in Accounting Principle, Description | ASU 2023-07 | |
Change in accounting principle, accounting standards update, adoption date | Jan. 01, 2024 |
Real Estate Investments - Compo
Real Estate Investments - Components of Purchase Price (Details) - UBP Acquisition [Member] $ / shares in Units, $ in Thousands | 12 Months Ended |
Dec. 31, 2023 USD ($) $ / shares shares | |
Business Acquisition [Line Items] | |
Shares of common stock issued for acquisition | shares | 13,568 |
Closing stock price on August 17, 2023 | $ / shares | $ 61.03 |
Value of common stock issued for acquisition | $ 828,025 |
Other adjustments | (9,495) |
Total value of common stock issued | 818,530 |
Debt repaid | $ 39,266 |
Preferred stock converted | shares | 225,000 |
Transaction costs | $ 57,197 |
Other cash payments | 68 |
Total purchase price | $ 1,140,061 |
Real Estate Investments - Sched
Real Estate Investments - Schedule of Total Purchase Price Including Transaction Costs Capitalized and Allocated (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities [Abstract] | ||
Total liabilities assumed | $ 22,779 | |
UBP Acquisition [Member] | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract] | ||
Real estate assets | $ 1,379,835 | |
Investments in unconsolidated real estate partnerships | 35,942 | |
Real estate assets | 1,415,777 | |
Cash, accounts receivable and other assets | 51,902 | |
Lease intangible assets | 128,663 | |
Total assets acquired | 1,596,342 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities [Abstract] | ||
Notes payable | 284,706 | |
Accounts payable, accrued expenses, and other liabilities | 37,500 | |
Lease intangible liabilities | 69,583 | |
Total liabilities assumed | 391,789 | |
Non-controlling interest | 64,492 | |
Total purchase price | $ 1,140,061 |
Real Estate Investments - Sch_2
Real Estate Investments - Schedule of Weighted Average Amortization Period of Intangible Assets and Liabilities (Details) - UBP Acquisition [Member] | 12 Months Ended |
Dec. 31, 2023 | |
In-place leases, net [Member] | |
Business Acquisition [Line Items] | |
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 8 years |
Above Market Leases [Member] | |
Business Acquisition [Line Items] | |
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 7 years |
Below-Market Leases [Member] | |
Business Acquisition [Line Items] | |
Weighted Average Accretion Period of Intangible Liabilities | 18 years 6 months |
Real Estate Investments - Sch_3
Real Estate Investments - Schedule of Other Properties Acquired (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Business Acquisition [Line Items] | ||
Purchase Price | $ 83,563 | $ 241,253 |
Debt Assumed, Net of Premiums | 22,779 | |
Off-Market Favorable Lease [Member] | ||
Business Acquisition [Line Items] | ||
Intangible Assets/Liabilities | 7,989 | 25,432 |
Off-Market Lease, Unfavorable [Member] | ||
Business Acquisition [Line Items] | ||
Intangible Assets/Liabilities | $ 12,346 | $ 19,571 |
Sienna Phase 1 [Member] | ||
Business Acquisition [Line Items] | ||
Date Purchased | May 01, 2023 | |
Property Name | Sienna Phase 1 | |
City/State | Houston, TX | |
Ownership | 75% | |
Purchase Price | $ 2,695 | |
Sun Vet [Member] | ||
Business Acquisition [Line Items] | ||
Date Purchased | May 18, 2023 | |
Property Name | SunVet | |
City/State | Holbrook, NY | |
Ownership | 100% | |
Purchase Price | $ 24,140 | |
Nohl Plaza [Member] | ||
Business Acquisition [Line Items] | ||
Date Purchased | Oct. 11, 2023 | |
Property Name | Nohl Plaza | |
City/State | Orange, CA | |
Ownership | 100% | |
Purchase Price | $ 25,328 | |
Nohl Plaza [Member] | Off-Market Favorable Lease [Member] | ||
Business Acquisition [Line Items] | ||
Intangible Assets/Liabilities | 3,940 | |
Nohl Plaza [Member] | Off-Market Lease, Unfavorable [Member] | ||
Business Acquisition [Line Items] | ||
Intangible Assets/Liabilities | $ 10,470 | |
The Longmeadow Shops [Member] | ||
Business Acquisition [Line Items] | ||
Date Purchased | Dec. 01, 2023 | |
Property Name | The Longmeadow Shops | |
City/State | Longmeadow, MA | |
Ownership | 100% | |
Purchase Price | $ 31,400 | |
The Longmeadow Shops [Member] | Off-Market Favorable Lease [Member] | ||
Business Acquisition [Line Items] | ||
Intangible Assets/Liabilities | 4,049 | |
The Longmeadow Shops [Member] | Off-Market Lease, Unfavorable [Member] | ||
Business Acquisition [Line Items] | ||
Intangible Assets/Liabilities | $ 1,876 | |
Glenwood Green [Member] | ||
Business Acquisition [Line Items] | ||
Date Purchased | Mar. 01, 2022 | |
Property Name | Glenwood Green | |
City/State | Old Bridge, NJ | |
Ownership | 70% | |
Purchase Price | $ 11,000 | |
Island Village [Member] | ||
Business Acquisition [Line Items] | ||
Date Purchased | Mar. 31, 2022 | |
Property Name | Island Village | |
City/State | Bainbridge Island, WA | |
Ownership | 100% | |
Purchase Price | $ 30,650 | |
Island Village [Member] | Off-Market Favorable Lease [Member] | ||
Business Acquisition [Line Items] | ||
Intangible Assets/Liabilities | 2,900 | |
Island Village [Member] | Off-Market Lease, Unfavorable [Member] | ||
Business Acquisition [Line Items] | ||
Intangible Assets/Liabilities | $ 6,839 | |
Apple Valley [Member] | ||
Business Acquisition [Line Items] | ||
Date Purchased | Apr. 01, 2022 | |
Property Name | Apple Valley (2) | |
City/State | Apple Valley, MN | |
Ownership | 100% | |
Purchase Price | $ 34,070 | |
Apple Valley [Member] | Off-Market Favorable Lease [Member] | ||
Business Acquisition [Line Items] | ||
Intangible Assets/Liabilities | 4,773 | |
Apple Valley [Member] | Off-Market Lease, Unfavorable [Member] | ||
Business Acquisition [Line Items] | ||
Intangible Assets/Liabilities | $ 490 | |
Cedar Commons [Member] | ||
Business Acquisition [Line Items] | ||
Date Purchased | Apr. 01, 2022 | |
Property Name | Cedar Commons (2) | |
City/State | Minneapolis, MN | |
Ownership | 100% | |
Purchase Price | $ 29,330 | |
Cedar Commons [Member] | Off-Market Favorable Lease [Member] | ||
Business Acquisition [Line Items] | ||
Intangible Assets/Liabilities | 4,369 | |
Cedar Commons [Member] | Off-Market Lease, Unfavorable [Member] | ||
Business Acquisition [Line Items] | ||
Intangible Assets/Liabilities | $ 58 | |
Corral Hollow [Member] | ||
Business Acquisition [Line Items] | ||
Date Purchased | Apr. 01, 2022 | |
Property Name | Corral Hollow (2) | |
City/State | Tracy, CA | |
Ownership | 100% | |
Purchase Price | $ 40,600 | |
Corral Hollow [Member] | Off-Market Favorable Lease [Member] | ||
Business Acquisition [Line Items] | ||
Intangible Assets/Liabilities | 3,410 | |
Corral Hollow [Member] | Off-Market Lease, Unfavorable [Member] | ||
Business Acquisition [Line Items] | ||
Intangible Assets/Liabilities | $ 74 | |
Shops at The Columbia [Member] | ||
Business Acquisition [Line Items] | ||
Date Purchased | Apr. 01, 2022 | |
Property Name | Shops at the Columbia (2) | |
City/State | Washington, DC | |
Ownership | 100% | |
Purchase Price | $ 14,000 | |
Shops at The Columbia [Member] | Off-Market Favorable Lease [Member] | ||
Business Acquisition [Line Items] | ||
Intangible Assets/Liabilities | 889 | |
Shops at The Columbia [Member] | Off-Market Lease, Unfavorable [Member] | ||
Business Acquisition [Line Items] | ||
Intangible Assets/Liabilities | $ 181 | |
Baederwood Shoppes [Member] | ||
Business Acquisition [Line Items] | ||
Date Purchased | May 06, 2022 | |
Property Name | Baederwood Shoppes | |
City/State | Jenkintown, PA | |
Ownership | 80% | |
Purchase Price | $ 51,603 | |
Debt Assumed, Net of Premiums | 22,779 | |
Baederwood Shoppes [Member] | Off-Market Favorable Lease [Member] | ||
Business Acquisition [Line Items] | ||
Intangible Assets/Liabilities | 5,796 | |
Baederwood Shoppes [Member] | Off-Market Lease, Unfavorable [Member] | ||
Business Acquisition [Line Items] | ||
Intangible Assets/Liabilities | $ 1,062 | |
East Meadow Plaza [Member] | ||
Business Acquisition [Line Items] | ||
Date Purchased | Oct. 12, 2022 | |
Property Name | East Meadow Plaza | |
City/State | East Meadow, NY | |
Ownership | 100% | |
Purchase Price | $ 30,000 | |
East Meadow Plaza [Member] | Off-Market Favorable Lease [Member] | ||
Business Acquisition [Line Items] | ||
Intangible Assets/Liabilities | 3,295 | |
East Meadow Plaza [Member] | Off-Market Lease, Unfavorable [Member] | ||
Business Acquisition [Line Items] | ||
Intangible Assets/Liabilities | $ 10,867 |
Real Estate Investments - Sch_4
Real Estate Investments - Schedule of Other Properties Acquired (Parenthetical) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2023 | |
Business Acquisition [Line Items] | ||
Percentage of purchase price and allocation | 100% | 100% |
Percentage of purchase price of property | 25% | |
RegCal, LLC [Member] | ||
Business Acquisition [Line Items] | ||
Business acquisition gross purchase price | $ 93.2 | |
Percentage of equity interest acquired | 25% |
Real Estate Investments - Addit
Real Estate Investments - Additional Information (Details) - Kroger New Albany Center [Member] $ in Millions | Nov. 30, 2022 USD ($) |
Real Estate [Line Items] | |
Business acquisition gross purchase price | $ 9 |
Percentage of equity interest acquired | 50% |
Property Dispositions (Details)
Property Dispositions (Details) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 USD ($) Property | Dec. 31, 2022 USD ($) Property | Dec. 31, 2021 USD ($) Property | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Net proceeds from sale of real estate investments | $ 11,167 | $ 143,133 | $ 206,193 |
Gain on sale of real estate, net of tax | $ 661 | $ 109,005 | 91,119 |
Provision for impairment of real estate | $ 84,389 | ||
Wholly Owned Properties [Member] | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Percent interest sold | 100% | 100% | 100% |
Real Estate Sold [Member] | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Provision for impairment of real estate | $ 112 | ||
Operating Properties [Member] | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Number of real estate properties sold | Property | 2 | 7 | |
Land [Member] | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Number of real estate properties sold | Property | 5 | 5 | 5 |
Investments in Real Estate Pa_3
Investments in Real Estate Partnerships - Schedule of Investments in Real Estate Partnerships (Details) $ in Thousands | 12 Months Ended | ||||
Dec. 31, 2023 USD ($) Property | Dec. 31, 2022 USD ($) Property | Dec. 31, 2021 USD ($) | |||
Schedule of Equity Method Investments [Line Items] | |||||
Number of Properties | Property | 101 | 96 | |||
Total Investments | $ 370,605 | $ 350,377 | |||
Total assets of the Partnership | 2,608,005 | ||||
The Company's Share of Net Income of the Partnership | 50,541 | 59,824 | $ 47,086 | ||
Net Income of the Partnership | $ 173,166 | ||||
Total Assets [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Total assets of the Partnership | 2,689,993 | ||||
Net Income [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Net Income of the Partnership | $ 135,138 | ||||
GRI - Regency, LLC [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Ownership Percentage | 40% | 40% | |||
Number of Properties | Property | 66 | 66 | |||
Total Investments | $ 144,371 | $ 155,302 | |||
The Company's Share of Net Income of the Partnership | 35,901 | 35,819 | |||
GRI - Regency, LLC [Member] | Total Assets [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Total assets of the Partnership | 1,475,611 | 1,501,876 | |||
GRI - Regency, LLC [Member] | Net Income [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Net Income of the Partnership | $ 84,224 | $ 83,989 | |||
New York Common Retirement Fund (NYC) [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Ownership Percentage | [1] | 30% | |||
Total Investments | [1] | $ 674 | |||
The Company's Share of Net Income of the Partnership | [1] | 9,173 | |||
New York Common Retirement Fund (NYC) [Member] | Total Assets [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Total assets of the Partnership | [1] | 2,468 | |||
New York Common Retirement Fund (NYC) [Member] | Net Income [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Net Income of the Partnership | [1] | $ 35,673 | |||
Columbia Regency Retail Partners, LLC (Columbia I) [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Ownership Percentage | 20% | 20% | |||
Number of Properties | Property | 7 | 7 | |||
Total Investments | $ 7,045 | $ 7,423 | |||
The Company's Share of Net Income of the Partnership | 1,630 | 1,817 | |||
Columbia Regency Retail Partners, LLC (Columbia I) [Member] | Total Assets [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Total assets of the Partnership | 139,224 | 138,493 | |||
Columbia Regency Retail Partners, LLC (Columbia I) [Member] | Net Income [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Net Income of the Partnership | $ 8,559 | $ 9,392 | |||
Columbia Regency Partners II, LLC (Columbia II) [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Ownership Percentage | 20% | 20% | |||
Number of Properties | Property | 14 | 13 | |||
Total Investments | $ 42,994 | $ 41,757 | |||
The Company's Share of Net Income of the Partnership | 1,743 | 1,735 | |||
Columbia Regency Partners II, LLC (Columbia II) [Member] | Total Assets [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Total assets of the Partnership | 424,672 | 405,927 | |||
Columbia Regency Partners II, LLC (Columbia II) [Member] | Net Income [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Net Income of the Partnership | $ 8,769 | $ 8,674 | |||
Columbia Village District, LLC [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Ownership Percentage | 30% | 30% | |||
Number of Properties | Property | 1 | 1 | |||
Total Investments | $ 6,123 | $ 5,836 | |||
The Company's Share of Net Income of the Partnership | 2,199 | 1,669 | |||
Columbia Village District, LLC [Member] | Total Assets [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Total assets of the Partnership | 97,522 | 96,002 | |||
Columbia Village District, LLC [Member] | Net Income [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Net Income of the Partnership | $ 7,383 | $ 5,597 | |||
RegCal, LLC (RegCal) [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Ownership Percentage | [2] | 25% | |||
Number of Properties | Property | [2] | 1 | |||
Total Investments | [2] | $ 5,789 | |||
The Company's Share of Net Income of the Partnership | [2] | 4,499 | |||
RegCal, LLC (RegCal) [Member] | Total Assets [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Total assets of the Partnership | [2] | 24,326 | |||
RegCal, LLC (RegCal) [Member] | Net Income [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Net Income of the Partnership | [2] | $ 18,258 | |||
Ballard Bocks [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Ownership Percentage | 49.90% | 49.90% | |||
Number of Properties | Property | 2 | 2 | |||
Total Investments | $ 62,140 | $ 62,624 | |||
The Company's Share of Net Income of the Partnership | 1,486 | 1,300 | |||
Ballard Bocks [Member] | Total Assets [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Total assets of the Partnership | 120,379 | 126,482 | |||
Ballard Bocks [Member] | Net Income [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Net Income of the Partnership | $ 3,297 | $ 2,925 | |||
Town & Country Center [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Ownership Percentage | 35% | 35% | |||
Number of Properties | Property | 1 | 1 | |||
Total Investments | $ 42,074 | $ 40,409 | |||
The Company's Share of Net Income of the Partnership | 1,075 | (819) | |||
Town & Country Center [Member] | Total Assets [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Total assets of the Partnership | 224,579 | 206,931 | |||
Town & Country Center [Member] | Net Income [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Net Income of the Partnership | $ 3,136 | $ 2,404 | |||
Others [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Ownership Percentage | 50% | ||||
Number of Properties | Property | 10 | [3] | 5 | ||
Total Investments | $ 65,858 | [3] | $ 30,563 | ||
The Company's Share of Net Income of the Partnership | 6,507 | [3] | (2,993) | ||
Others [Member] | Total Assets [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Total assets of the Partnership | 208,006 | [3] | 105,500 | ||
Others [Member] | Net Income [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Net Income of the Partnership | $ 19,770 | [3] | $ 6,254 | ||
Others [Member] | Minimum [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Ownership Percentage | [3] | 11.80% | |||
Others [Member] | Maximum [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Ownership Percentage | [3] | 66.67% | |||
[1] On May 25, 2022, the NYC partnership sold the remaining two properties and distributed sales proceeds to the members. Dissolution will follow final distributions, which are expected in 2024. During April 2022, we acquired our partner's 75 % share in four properties held in the RegCal, LLC, partnership for a total purchase price of $ 88.5 million. Upon acquisition, these four properties were consolidated into Regency's financial statements. New York Common Retirement Fund (NYC) and RegCal, LLC (RegCal) no longer have any operating properties and any residual balances have been included in Others as of December 31, 2023. The residual balances are primarily made up of the Company’s share of remaining working capital. |
Investments in Real Estate Pa_4
Investments in Real Estate Partnerships - Schedule of Investments in Real Estate Partnerships (Parenthetical) (Details) $ in Millions | 1 Months Ended | 12 Months Ended | ||
May 25, 2022 Property | Apr. 30, 2022 USD ($) Property | Dec. 31, 2023 USD ($) Property | Dec. 31, 2022 Property | |
Schedule of Equity Method Investments [Line Items] | ||||
Real Estate Partnerships, Number of Properties | Property | 101 | 96 | ||
New York Common Retirement Fund (NYC) [Member] | ||||
Schedule of Equity Method Investments [Line Items] | ||||
Real Estate Partnership, Number of properties sold | Property | 2 | |||
Operating properties and residual balances classified as others | $ | $ 0 | |||
RegCal, LLC (RegCal) [Member] | ||||
Schedule of Equity Method Investments [Line Items] | ||||
Ownership | 75% | |||
Real Estate Partnerships, Number of Properties | Property | 4 | |||
Operating properties and residual balances classified as others | $ | $ 0 | |||
Total purchase price | $ | $ 88.5 |
Investments in Real Estate Pa_5
Investments in Real Estate Partnerships - Balance Sheet Summarized Financial Information (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Schedule of Equity Method Investments [Line Items] | ||
Investments in real estate, net | $ 11,142,315 | $ 9,792,581 |
Acquired lease intangible assets, net | 283,375 | 197,745 |
Other assets | 283,429 | 267,797 |
Total assets | 12,426,913 | 10,860,220 |
Notes payable | 4,001,949 | 3,726,754 |
Acquired lease intangible liabilities, net | 398,302 | 354,204 |
Capital - Regency | 159,248 | 81,054 |
Capital - Third parties | 7,032,687 | 6,096,985 |
Total liabilities and equity | 12,426,913 | 10,860,220 |
Investments in real estate partnerships (note 4) | 370,605 | 350,377 |
Basis Difference [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
Equity Method Investment, Difference Between Carrying Amount and Underlying Equity | (47,600) | (62,407) |
Real Estate Partnership [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
Investments in real estate, net | 2,432,859 | 2,359,289 |
Acquired lease intangible assets, net | 16,723 | 16,821 |
Other assets | 240,411 | 231,895 |
Total assets | 2,689,993 | 2,608,005 |
Notes payable | 1,499,702 | 1,398,297 |
Acquired lease intangible liabilities, net | 15,112 | 17,619 |
Other liabilities | 80,457 | 81,714 |
Total liabilities and equity | 2,689,993 | 2,608,005 |
Regency [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
Capital - Regency | 418,205 | 412,784 |
Third Parties [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
Capital - Third parties | $ 676,517 | $ 697,591 |
Investments in Real Estate Pa_6
Investments in Real Estate Partnerships - Schedule of Revenues and Expenses for Investments in Real Estate Partnerships (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Schedule of Equity Method Investments [Line Items] | |||
Total revenues | $ 1,322,466 | $ 1,224,022 | $ 1,166,161 |
Operating expenses: | |||
Depreciation and amortization | 352,282 | 319,697 | 303,331 |
Real estate taxes | 165,560 | 149,795 | 142,129 |
General and administrative | 97,806 | 79,903 | 78,218 |
Total operating expenses | 854,316 | 751,709 | 713,982 |
Other expense (income): | |||
Interest expense, net | 154,249 | 146,186 | 145,170 |
Gain on sale of real estate | (661) | (109,005) | (91,119) |
Early extinguishment of debt | (99) | ||
Provision for impairment | 84,389 | ||
Total other expense | 147,824 | 44,102 | 132,977 |
Net income | 370,867 | 488,035 | 366,288 |
Real Estate Partnership [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Total revenues | 390,843 | 378,096 | 416,222 |
Operating expenses: | |||
Depreciation and amortization | 88,974 | 86,193 | 94,026 |
Property operating expense | 65,509 | 61,224 | 66,061 |
Real estate taxes | 47,529 | 42,010 | 54,618 |
General and administrative | 5,008 | 5,615 | 5,837 |
Other operating expenses | 3,119 | 3,851 | 3,624 |
Total operating expenses | 210,139 | 198,893 | 224,166 |
Other expense (income): | |||
Interest expense, net | 56,706 | 54,874 | 58,109 |
Gain on sale of real estate | (11,140) | (49,424) | (75,162) |
Early extinguishment of debt | 0 | 587 | 0 |
Provision for impairment | 0 | 0 | 9,833 |
Total other expense | 45,566 | 6,037 | (7,220) |
Net Income [Member] | |||
Other expense (income): | |||
Net income | 135,138 | 173,166 | 199,276 |
Unconsolidated Properties [Member] | |||
Other expense (income): | |||
Income (Loss) from Equity Method Investments | $ 50,541 | $ 59,824 | $ 47,086 |
Investments in Real Estate Pa_7
Investments in Real Estate Partnerships - Schedule of Acquisitions by Real Estate Partnerships (Details) - USD ($) $ in Thousands | 12 Months Ended | ||||
Dec. 31, 2023 | Dec. 31, 2022 | ||||
Business Acquisition [Line Items] | |||||
Purchase Price | $ 83,563 | $ 241,253 | |||
Debt Assumed, Net of Premiums | 22,779 | ||||
Off-Market Lease, Unfavorable [Member] | |||||
Business Acquisition [Line Items] | |||||
Intangible Assets/Liabilities | 12,346 | 19,571 | |||
Off-Market Favorable Lease [Member] | |||||
Business Acquisition [Line Items] | |||||
Intangible Assets/Liabilities | 7,989 | 25,432 | |||
Unconsolidated Properties [Member] | |||||
Business Acquisition [Line Items] | |||||
Purchase Price | 27,510 | [1] | 57,920 | [2] | |
Debt Assumed, Net of Premiums | [2] | 22,074 | |||
Unconsolidated Properties [Member] | Off-Market Lease, Unfavorable [Member] | |||||
Business Acquisition [Line Items] | |||||
Intangible Assets/Liabilities | 503 | [1] | 814 | [2] | |
Unconsolidated Properties [Member] | Off-Market Favorable Lease [Member] | |||||
Business Acquisition [Line Items] | |||||
Intangible Assets/Liabilities | $ 3,625 | [1] | $ 4,336 | [2] | |
Unconsolidated Properties [Member] | Naperville Plaza [Member] | |||||
Business Acquisition [Line Items] | |||||
Date Purchased | Mar. 25, 2022 | ||||
Property Name | Naperville Plaza | ||||
City/State | Naperville, IL | ||||
Business Acquisition, Description of Acquired Entity | Operating | ||||
Business Acquisition, Real Estate Partner | Columbia II | ||||
Ownership Percentage | 20% | ||||
Purchase Price | [2] | $ 52,380 | |||
Debt Assumed, Net of Premiums | [2] | 22,074 | |||
Unconsolidated Properties [Member] | Naperville Plaza [Member] | Off-Market Favorable Lease [Member] | |||||
Business Acquisition [Line Items] | |||||
Intangible Assets/Liabilities | [2] | 4,336 | |||
Unconsolidated Properties [Member] | Naperville Plaza [Member] | Off-Market Favorable Lease [Member] | Off-Market Lease, Unfavorable [Member] | |||||
Business Acquisition [Line Items] | |||||
Intangible Assets/Liabilities | [2] | $ 814 | |||
Unconsolidated Properties [Member] | Baybrook East 1B [Member] | |||||
Business Acquisition [Line Items] | |||||
Date Purchased | Jun. 24, 2022 | ||||
Property Name | Baybrook East 1B | ||||
City/State | Houston, TX | ||||
Business Acquisition, Description of Acquired Entity | Development | ||||
Business Acquisition, Real Estate Partner | Other | ||||
Ownership Percentage | 50% | ||||
Purchase Price | [2] | $ 5,540 | |||
Unconsolidated Properties [Member] | Old Town Square [Member] | |||||
Business Acquisition [Line Items] | |||||
Date Purchased | Sep. 19, 2023 | ||||
Property Name | Old Town Square | ||||
City/State | Chicago, IL | ||||
Business Acquisition, Description of Acquired Entity | Operating | ||||
Business Acquisition, Real Estate Partner | Other | ||||
Ownership Percentage | 20% | ||||
Purchase Price | [1] | $ 27,510 | |||
Unconsolidated Properties [Member] | Old Town Square [Member] | Off-Market Lease, Unfavorable [Member] | |||||
Business Acquisition [Line Items] | |||||
Intangible Assets/Liabilities | [1] | 503 | |||
Unconsolidated Properties [Member] | Old Town Square [Member] | Off-Market Favorable Lease [Member] | |||||
Business Acquisition [Line Items] | |||||
Intangible Assets/Liabilities | [1] | $ 3,625 | |||
[1] Amounts reflected for purchase price and allocation are reflected at 100 %. Amounts reflected for purchase price and allocation are reflected at 100 %. |
Investments in Real Estate Pa_8
Investments in Real Estate Partnerships - Schedule of Acquisitions by Real Estate Partnerships (Parenthetical) (Details) | Dec. 31, 2023 | Dec. 31, 2022 |
Equity Method Investments and Joint Ventures [Abstract] | ||
Percentage of purchase price and allocation | 100% | 100% |
Investments in Real Estate Pa_9
Investments in Real Estate Partnerships - Summary of Shopping Centers and Land Parcels Disposed of Unconsolidated Real Estate Partnerships (Details) - Unconsolidated Properties [Member] $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 USD ($) Property | Dec. 31, 2022 USD ($) Property | Dec. 31, 2021 USD ($) Property | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Proceeds from Sale of Equity Method Investments | $ 30,659 | $ 116,377 | $ 224,708 |
Equity Method Investment, Realized Gain (Loss) on Disposal | 11,140 | 49,424 | 75,162 |
Equity Method Investment, Realized Gain (Loss) on Disposal, Parent Company's Share | $ 3,161 | $ 12,748 | $ 9,380 |
Operating Segments [Member] | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Number of real estate properties sold | Property | 1 | 4 | 4 |
Land [Member] | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Number of real estate properties sold | Property | 0 | 0 | 1 |
Investments in Real Estate P_10
Investments in Real Estate Partnerships - Scheduled Principal Repayments on Notes Payable (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Schedule of Equity Method Investments [Line Items] | ||
2024 | $ 395,978 | |
2025 | 465,631 | |
2026 | 359,273 | |
2027 | 756,170 | |
2028 | 343,581 | |
Beyond 5 Years | 1,864,200 | |
Unamortized debt premium/(discount) and issuance costs | (30,884) | |
Total | 4,153,949 | $ 3,726,754 |
Unsecured Debt [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
Total | 3,252,755 | $ 3,248,373 |
Unconsolidated Investments in Partnership [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
2024 | 37,408 | |
2025 | 153,316 | |
2026 | 282,340 | |
2027 | 40,376 | |
2028 | 250,872 | |
Beyond 5 Years | 746,012 | |
Unamortized debt premium/(discount) and issuance costs | (10,622) | |
Total | 1,499,702 | |
Unconsolidated Investments in Partnership [Member] | Mortgages [Member] | Scheduled Principal Payments [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
2024 | 3,718 | |
2025 | 6,094 | |
2026 | 7,393 | |
2027 | 7,576 | |
2028 | 4,267 | |
Beyond 5 Years | 6,688 | |
Unamortized debt premium/(discount) and issuance costs | 0 | |
Total | 35,736 | |
Unconsolidated Investments in Partnership [Member] | Mortgages [Member] | Mortgage Loan Maturities [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
2024 | 33,690 | |
2025 | 147,222 | |
2026 | 233,147 | |
2027 | 32,800 | |
2028 | 246,605 | |
Beyond 5 Years | 739,324 | |
Unamortized debt premium/(discount) and issuance costs | (10,622) | |
Total | 1,422,166 | |
Unconsolidated Investments in Partnership [Member] | Unsecured Debt [Member] | Unsecured Maturities [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
2024 | 0 | |
2025 | 0 | |
2026 | 41,800 | |
2027 | 0 | |
2028 | 0 | |
Beyond 5 Years | 0 | |
Unamortized debt premium/(discount) and issuance costs | 0 | |
Total | 41,800 | |
Unconsolidated Investments in Partnership, Pro-rata Share [Member] [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
2024 | 14,678 | |
2025 | 48,506 | |
2026 | 89,520 | |
2027 | 13,669 | |
2028 | 92,027 | |
Beyond 5 Years | 280,328 | |
Unamortized debt premium/(discount) and issuance costs | (3,872) | |
Total | $ 534,856 |
Investments in Real Estate P_11
Investments in Real Estate Partnerships - Additional Information (Details) | 12 Months Ended |
Dec. 31, 2023 | |
Debt Instrument [Line Items] | |
Percent of long term debt with fixed interest rate | 95.40% |
Weighted average fixed interest rate | 3.80% |
Maturity period | 2034 |
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member] | |
Debt Instrument [Line Items] | |
Weighted average variable interest rate | 7.20% |
Investments in Real Estate P_12
Investments in Real Estate Partnerships - Related Party Revenue (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | ||
Schedule of Equity Method Investments [Line Items] | ||||
Asset management, property management, leasing, and investment and financing services | $ 1,322,466 | $ 1,224,022 | $ 1,166,161 | |
Related Party [Member] | ||||
Schedule of Equity Method Investments [Line Items] | ||||
Asset management, property management, leasing, and investment and financing services | $ 26,954 | $ 25,851 | $ 40,301 | [1] |
[1] In connection with the USAA partnership, we received and recognized a one-time promote fee of $ 13.6 million during the year ended December 31, 2021, in consideration for exceeding return thresholds resulting from our performance as managing member. |
Investments in Real Estate P_13
Investments in Real Estate Partnerships - Related Party Revenue (Parenthetical) (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | ||
Product Information [Line Items] | ||||
Management, transaction, and other fees | $ 26,954 | $ 25,851 | $ 40,337 | |
Promote income [Member] | ||||
Product Information [Line Items] | ||||
Management, transaction, and other fees | [1] | $ 13,589 | ||
[1] The Company recog nized $ 13.6 million in p romote revenue during the year ended December 31, 2021, for exceeding partnership return hurdles from the Company's performance as managing member in the USAA partnership. The consideration was paid in the form of a real estate asset. |
Schedule of Other Assets (Detai
Schedule of Other Assets (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 |
Other Assets [Abstract] | |||
Goodwill | $ 167,062 | $ 167,062 | $ 167,095 |
Investments | 51,992 | 54,581 | |
Prepaid and other | 40,635 | 28,615 | |
Derivative assets | 14,213 | 6,575 | |
Furniture, fixtures, and equipment, net | 6,662 | 5,808 | |
Deferred financing costs, net | 2,865 | 5,156 | |
Total other assets | $ 283,429 | $ 267,797 |
Schedule of Goodwill (Details)
Schedule of Goodwill (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Goodwill [Line Items] | ||
Goodwill Gross, Beginning balance | $ 300,496 | $ 300,529 |
Goodwill Gross, allocated to Properties held for sale | (5,972) | |
Goodwill, ending balance | 294,524 | 300,496 |
Goodwill, Accumulated Impairment Losses, Beginning balance | (133,434) | (133,434) |
Goodwill Accumulated Impairment Losses, allocated to Properties held for sale | 5,972 | |
Goodwill, Accumulated Impairment Losses, Ending balance | (127,462) | (133,434) |
Goodwill, Beginning balance | 167,062 | 167,095 |
Goodwill, Ending balance | $ 167,062 | 167,062 |
Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member] | ||
Goodwill [Line Items] | ||
Goodwill Gross, allocated to Gain on sale of real estate | (33) | |
Goodwill allocated to Gain on sale of real estate | $ (33) |
Acquired Leases Intangibles (De
Acquired Leases Intangibles (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Finite-Lived Intangible Assets [Line Items] | |||
Finite-Lived Intangible Assets, Gross | $ 647,788 | $ 535,798 | |
Accumulated amortization | (364,413) | (338,053) | |
Finite-Lived Intangible Assets, Net, Total | 283,375 | 197,745 | |
Finite-Lived Intangible Liabilities, Accumulated Accretion | (211,067) | (193,315) | |
Off-market Lease, Unfavorable | 398,302 | 354,204 | |
Finite-Lived Intangible Assets, Amortization Expense | 50,673 | 40,396 | $ 39,108 |
Partnership Interest [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Accumulated amortization | (364,413) | (338,053) | |
Finite-Lived Intangible Assets, Net, Total | 283,375 | 197,745 | |
Off-market Lease, Unfavorable | 398,302 | 354,204 | |
In-place leases, net [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Finite-Lived Intangible Assets, Gross | 543,892 | 452,868 | |
Finite-Lived Intangible Assets, Amortization Expense | 44,102 | 34,568 | 33,621 |
Above Market Leases [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Finite-Lived Intangible Assets, Gross | 103,896 | 82,930 | |
Finite-Lived Intangible Assets, Amortization Expense | 6,571 | 5,828 | 5,487 |
Off-Market Lease, Unfavorable [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Finite Lived Intangible Liabilities, Gross | 609,369 | 547,519 | |
Acquired lease intangible liability accretion | $ 37,831 | $ 28,642 | $ 30,378 |
Acquired Lease Intangibles Sche
Acquired Lease Intangibles Schedule of Future Amortization Expense and Minimum Rent (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2023 USD ($) | |
Amortization Expense [Abstract] | |
2024 | $ 45,098 |
2025 | 33,012 |
2026 | 26,791 |
2027 | 21,185 |
2028 | 16,764 |
Net Accretion [Abstract] | |
Future Accretion, Year One | 22,598 |
Future Accretion, Year Two | 21,953 |
Future Accretion, Year Three | 21,216 |
Future Accretion, Year Four | 20,207 |
Future Accretion, Year Five | $ 20,065 |
Leases (Details)
Leases (Details) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 USD ($) Property | Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | |
Operating Leased Assets [Line Items] | |||
Fixed and in-substance fixed lease income | $ 928,364 | $ 851,409 | $ 797,502 |
Variable lease income | 324,037 | 287,149 | 262,619 |
Uncollectible straight line rent | 1,261 | 12,510 | 5,227 |
Uncollectible amounts billable in lease income | (549) | 13,841 | 23,481 |
Total lease income | 1,283,939 | 1,187,452 | 1,113,368 |
2024 | 972,980 | ||
2025 | 872,330 | ||
2026 | 757,633 | ||
2027 | 633,290 | ||
2028 | 480,640 | ||
Thereafter | 1,740,783 | ||
Total | $ 5,457,656 | ||
Number of Properties Subject to Ground Leases | Property | 21 | ||
Last Ground Lease Expiration Date | 2121 | ||
Last Office Lease Expiration Date | 2029 | ||
Total fixed operating lease expense | $ 18,830 | 17,921 | 18,171 |
Total variable lease expense | 2,315 | 2,202 | 1,647 |
Total lease expense | 21,145 | 20,123 | 19,818 |
Operating cash flows for operating leases | 15,823 | 14,656 | 15,165 |
2024 | 16,037 | ||
2025 | 16,426 | ||
2026 | 16,214 | ||
2027 | 15,060 | ||
2028 | 14,356 | ||
Thereafter | 702,914 | ||
Total undiscounted lease liabilities | 781,007 | ||
Present value discount | (534,944) | ||
Lease liabilities | 246,063 | 213,722 | |
Lessor [Member] | |||
Operating Leased Assets [Line Items] | |||
Above/below market rent and tenant rent inducement amortization, net | 30,826 | 22,543 | 24,539 |
Ground Lease [Member] | |||
Operating Leased Assets [Line Items] | |||
Total fixed operating lease expense | 14,727 | 13,759 | 13,862 |
Total variable lease expense | 1,586 | 1,591 | 1,032 |
2024 | 12,955 | ||
2025 | 12,962 | ||
2026 | 12,883 | ||
2027 | 12,909 | ||
2028 | 13,051 | ||
Thereafter | 702,602 | ||
Total undiscounted lease liabilities | 767,362 | ||
Present value discount | (533,777) | ||
Lease liabilities | $ 233,585 | ||
Weighted average discount rate | 5.50% | ||
Weighted average remaining term (in years) | 49 years 4 months 24 days | ||
Office Lease [Member] | |||
Operating Leased Assets [Line Items] | |||
Total fixed operating lease expense | $ 4,103 | 4,162 | 4,309 |
Total variable lease expense | 729 | $ 611 | $ 615 |
2024 | 3,082 | ||
2025 | 3,464 | ||
2026 | 3,331 | ||
2027 | 2,151 | ||
2028 | 1,305 | ||
Thereafter | 312 | ||
Total undiscounted lease liabilities | 13,645 | ||
Present value discount | (1,167) | ||
Lease liabilities | $ 12,478 | ||
Weighted average discount rate | 3.70% | ||
Weighted average remaining term (in years) | 4 years 1 month 6 days |
Income Taxes - Tax Status of Di
Income Taxes - Tax Status of Dividends (Details) - $ / shares | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Schedule of Tax Status of Dividends [Line Items] | |||
Dividend per share, common shares | $ 2.62 | $ 2.525 | $ 2.41 |
Series A [Member] | |||
Schedule of Tax Status of Dividends [Line Items] | |||
Dividend per share, preferred shares | 0.39 | ||
Series B [Member] | |||
Schedule of Tax Status of Dividends [Line Items] | |||
Dividend per share, preferred shares | $ 0.37 | ||
Common Stock [Member] | |||
Schedule of Tax Status of Dividends [Line Items] | |||
Ordinary income | 100% | 100% | 92% |
Capital gain | 0% | 0% | 8% |
Additional tax status information: | |||
Allocation of Dividends, Qualified Dividend Income | 0% | 0% | 1% |
Allocation of Dividends, Section 199A Dividend | 100% | 100% | 91% |
Allocation of Dividend, Section 897 ordinary dividends | 0% | 0% | 2% |
Allocation of Dividends, Section 897 capital gains | 0% | 0% | 4% |
Preferred Stock [Member] | Series A [Member] | |||
Schedule of Tax Status of Dividends [Line Items] | |||
Ordinary income | 100% | ||
Capital gain | 0% | ||
Additional tax status information: | |||
Allocation of Dividends, Qualified Dividend Income | 0% | ||
Allocation of Dividends, Section 199A Dividend | 100% | ||
Allocation of Dividend, Section 897 ordinary dividends | 0% | ||
Allocation of Dividends, Section 897 capital gains | 0% | ||
Preferred Stock [Member] | Series B [Member] | |||
Schedule of Tax Status of Dividends [Line Items] | |||
Ordinary income | 100% | ||
Capital gain | 0% | ||
Additional tax status information: | |||
Allocation of Dividends, Qualified Dividend Income | 0% | ||
Allocation of Dividends, Section 199A Dividend | 100% | ||
Allocation of Dividend, Section 897 ordinary dividends | 0% | ||
Parent Company [Member] | |||
Schedule of Tax Status of Dividends [Line Items] | |||
Dividend per share, common shares | $ 2.56 | $ 2.53 | $ 2.53 |
Income Taxes - Tax Status of _2
Income Taxes - Tax Status of Dividends (Parenthetical) (Details) | 12 Months Ended |
Dec. 31, 2023 | |
Income Tax Disclosure [Abstract] | |
Capital gain distribution | 42% |
Remaining capital gain distribution | 58% |
Income Taxes - Income Tax Expen
Income Taxes - Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Income Tax Disclosure [Abstract] | |||
Current income tax expense (benefit) | $ 796 | $ (332) | $ 620 |
Deferred income tax expense (benefit) | 99 | 293 | 421 |
Total income tax expense (benefit) | $ 895 | $ (39) | $ 1,041 |
Income Taxes - Tax Reconciliati
Income Taxes - Tax Reconciliation (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Income Tax Disclosure [Abstract] | |||
Computed expected tax expense (benefit) | $ 371 | $ 504 | $ 544 |
State income tax, net of federal benefit | 60 | 52 | 477 |
Valuation allowance | 227 | (323) | 15 |
Permanent items | 2 | 1 | 1 |
All other items | 235 | (273) | 4 |
Total income tax expense (benefit) | 895 | (39) | 1,041 |
Income tax expense attributable to operations | $ 895 | $ (39) | $ 1,041 |
Income Taxes - Deferred Taxes (
Income Taxes - Deferred Taxes (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Deferred Tax Assets, Net [Abstract] | ||
Other | $ 1,893 | $ 1,007 |
Deferred tax assets | 1,893 | 1,007 |
Valuation allowance | (1,893) | (1,007) |
Deferred tax assets, net | 0 | 0 |
Deferred Tax Liabilities, Net [Abstract] | ||
Fixed assets | (12,563) | (12,527) |
Other | (780) | (61) |
Deferred tax liabilities | (13,343) | (12,588) |
Net deferred tax liabilities | $ (13,343) | $ (12,588) |
Notes Payable and Unsecured C_3
Notes Payable and Unsecured Credit Facility - Schedule of Debt Net of Unamortized Debt Premium (Discount) and Debt Issuance Costs (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 | |
Debt Instrument [Line Items] | |||
Long-term Debt | $ 4,153,949 | $ 3,726,754 | |
Line of Credit | $ 152,000 | ||
Fixed Rate Mortgage Loans [Member] | |||
Debt Instrument [Line Items] | |||
Long-term Debt, Maturity Date | Jun. 01, 2037 | ||
Debt, Weighted Average Contractual Interest Rate | 3.80% | ||
Debt, Weighted Average Effective Interest Rate | 4.20% | ||
Long-term Debt | $ 449,615 | 342,135 | |
Unsecured Debt [Member] | |||
Debt Instrument [Line Items] | |||
Long-term Debt, Maturity Date | Mar. 15, 2049 | ||
Debt, Weighted Average Contractual Interest Rate | 3.80% | ||
Debt, Weighted Average Effective Interest Rate | 4% | ||
Long-term Debt | $ 3,252,755 | 3,248,373 | |
Notes Payable to Banks [Member] | |||
Debt Instrument [Line Items] | |||
Long-term Debt | $ 4,001,949 | 3,726,754 | |
Line of Credit [Member] | |||
Debt Instrument [Line Items] | |||
Long-term Debt, Maturity Date | [1] | Mar. 23, 2025 | |
Debt, Weighted Average Contractual Interest Rate | [1] | 6.30% | |
Debt, Weighted Average Effective Interest Rate | [1] | 6.60% | |
Long-term Debt | [1] | $ 152,000 | |
SOFR [Member] | Variable Rate Mortgage Loans [Member] | |||
Debt Instrument [Line Items] | |||
Long-term Debt, Maturity Date | [2] | Jan. 31, 2032 | |
Debt, Weighted Average Contractual Interest Rate | [2] | 4.20% | |
Debt, Weighted Average Effective Interest Rate | [2] | 4.30% | |
Long-term Debt | [2] | $ 299,579 | $ 136,246 |
[1] Weighted average effective rate for the Line is calculated based on a fully drawn Line balance using the period end variable rate. In January 2024, the Company amended its Line to, among other items, increase the borrowing capacity to $ 1.5 billion and to extend the expiration date to March, 2028 with the option to extend the expiration for two additional six-month period . As of December 31, 2023, 15 of these 17 variable rate loans, representing $ 294.9 million of debt in the aggregate, have interest rate swaps in place to mitigate interest rate fluctuation risk. Based on these swap agreements, the effective fixed rates of the 15 loans range from 2.5 % to 6.7 % . |
Notes Payable and Unsecured C_4
Notes Payable and Unsecured Credit Facility - Schedule of Debt Net of Unamortized Debt Premium (Discount) and Debt Issuance Costs (Parentheticals) (Details) - USD ($) $ in Thousands | 1 Months Ended | |||
Jan. 31, 2024 | Dec. 31, 2023 | Dec. 31, 2022 | ||
Debt Instrument [Line Items] | ||||
Line of credit maximum amount | $ 1,250,000 | |||
Long-term Debt | 4,153,949 | $ 3,726,754 | ||
Subsequent Event [Member] | ||||
Debt Instrument [Line Items] | ||||
Line of credit maximum amount | $ 1,500,000 | |||
Line of credit maturity date | Mar. 31, 2028 | |||
Line of credit extended maturity period | two additional six-month period | |||
Variable Rate Mortgage Loans [Member] | SOFR [Member] | ||||
Debt Instrument [Line Items] | ||||
Long-term Debt | [1] | 299,579 | $ 136,246 | |
Variable Rate Mortgage Loans [Member] | SOFR [Member] | Interest Rate Swaps [Member] | ||||
Debt Instrument [Line Items] | ||||
Long-term Debt | $ 294,900 | |||
Variable Rate Mortgage Loans [Member] | Minimum [Member] | SOFR [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt instrument, effective fixed interest rate | 2.50% | |||
Variable Rate Mortgage Loans [Member] | Maximum [Member] | SOFR [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt instrument, effective fixed interest rate | 6.70% | |||
[1] As of December 31, 2023, 15 of these 17 variable rate loans, representing $ 294.9 million of debt in the aggregate, have interest rate swaps in place to mitigate interest rate fluctuation risk. Based on these swap agreements, the effective fixed rates of the 15 loans range from 2.5 % to 6.7 % . |
Notes Payable and Unsecured C_5
Notes Payable and Unsecured Credit Facility - Additional Information (Details) | 1 Months Ended | 12 Months Ended | ||||
Jan. 18, 2024 USD ($) | Aug. 18, 2023 USD ($) Property | Jan. 31, 2024 USD ($) | Dec. 31, 2023 USD ($) | Jan. 08, 2024 USD ($) | Dec. 31, 2022 USD ($) | |
Debt Instrument [Line Items] | ||||||
Line of credit facility, maximum borrowing capacity | $ 1,250,000,000 | |||||
Line of credit facility, interest rate description | SOFR plus a 0.10% market adjustment and an applicable margin of 0.865% | |||||
Long-term Debt | $ 4,153,949,000 | $ 3,726,754,000 | ||||
Debt discount (premium) | $ 30,884,000 | |||||
Line of credit facility, commitment fee percentage | 0.15% | |||||
Subsequent Event [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Line of credit facility, maximum borrowing capacity | $ 1,500,000,000 | |||||
Line of credit extended maturity period | two additional six-month period | |||||
Fixed Rate Debt [Member] | UBP [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Long-term Debt | $ 130,000,000 | |||||
Debt discount (premium) | $ 13,600,000 | |||||
Number of operating properties | Property | 11 | |||||
Fixed Rate Debt [Member] | UBP [Member] | Minimum [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Scheduled maturity date | 2024-08 | |||||
Debt instrument, effective fixed interest rate | 3.50% | |||||
Fixed Rate Debt [Member] | UBP [Member] | Maximum [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Scheduled maturity date | 2037-06 | |||||
Debt instrument, effective fixed interest rate | 5.60% | |||||
Variable Rate Debt [Member] | UBP [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Long-term Debt | $ 154,700,000 | |||||
Debt discount (premium) | $ 1,100,000 | |||||
Number of operating properties | Property | 9 | |||||
Variable Rate Debt [Member] | UBP [Member] | Minimum [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Scheduled maturity date | 2024-08 | |||||
Debt instrument, effective fixed interest rate | 3.10% | |||||
Variable Rate Debt [Member] | UBP [Member] | Maximum [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Scheduled maturity date | 2032-01 | |||||
Debt instrument, effective fixed interest rate | 4.80% | |||||
Unsecured Debt [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Long-term Debt | $ 3,252,755,000 | $ 3,248,373,000 | ||||
Accordion Feature [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Line of credit facility, maximum borrowing capacity | $ 1,250,000,000 | |||||
Unsecured Revolving Credit Facility [Member] | Subsequent Event [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Line of credit facility, maximum borrowing capacity | $ 1,500,000,000 | |||||
Line of Credit Facility, Expiration Date | Mar. 23, 2028 | |||||
Debt instrument, term | 4 years | |||||
Line of credit extended maturity period | two six-month extension options | |||||
Debt instrument sustainability adjustment | 1% | |||||
Unsecured Revolving Credit Facility [Member] | Subsequent Event [Member] | Secured Overnight Financing Rate SOFR [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Variable rate adjustment | 10% | |||||
Unsecured Revolving Credit Facility [Member] | Subsequent Event [Member] | Base Rate [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Variable rate adjustment | 72.50% | |||||
Unsecured Revolving Credit Facility [Member] | Maximum [Member] | Subsequent Event [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Line of credit facility, maximum borrowing capacity | $ 1,500,000,000 | |||||
Senior Unsecured Debt due in 2034 [Member] | Unsecured Debt [Member] | Subsequent Event [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Debt instrument, issue price | $ 400,000,000 | |||||
Percentage of debt par value | 99.617% | |||||
Coupon rate | 5.25% |
Notes Payable and Unsecured C_6
Notes Payable and Unsecured Credit Facility - Schedule of Maturities of Long-term Debt (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 | |
Debt Instrument [Line Items] | |||
2024 | $ 395,978 | ||
2025 | 465,631 | ||
2026 | 359,273 | ||
2027 | 756,170 | ||
2028 | 343,581 | ||
Beyond 5 Years | 1,864,200 | ||
Unamortized debt premium/(discount) and issuance costs | (30,884) | ||
Total | 4,153,949 | $ 3,726,754 | |
Unsecured Debt [Member] | |||
Debt Instrument [Line Items] | |||
Total | 3,252,755 | $ 3,248,373 | |
Scheduled Principal Payments [Member] | Mortgages [Member] | |||
Debt Instrument [Line Items] | |||
2024 | 12,398 | ||
2025 | 11,094 | ||
2026 | 11,426 | ||
2027 | 8,612 | ||
2028 | 7,011 | ||
Beyond 5 Years | 8,070 | ||
Total | 58,611 | ||
Mortgage Loan Maturities [Member] | Mortgages [Member] | |||
Debt Instrument [Line Items] | |||
2024 | 133,580 | ||
2025 | 52,537 | ||
2026 | 147,847 | ||
2027 | 222,558 | ||
2028 | 36,570 | ||
Beyond 5 Years | 106,130 | ||
Unamortized debt premium/(discount) and issuance costs | (8,640) | ||
Total | 690,582 | ||
Unsecured Maturities [Member] | Unsecured Debt [Member] | |||
Debt Instrument [Line Items] | |||
2024 | [1] | 250,000 | |
2025 | [1] | 402,000 | |
2026 | [1] | 200,000 | |
2027 | [1] | 525,000 | |
2028 | [1] | 300,000 | |
Beyond 5 Years | [1] | 1,750,000 | |
Unamortized debt premium/(discount) and issuance costs | [1] | (22,244) | |
Total | [1] | $ 3,404,756 | |
[1] Includes unsecured public and private debt and unsecured credit facilities |
Derivative Instruments (Details
Derivative Instruments (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | ||
Derivative [Line Items] | ||||
Assets (Liabilities) | [1] | $ 12,878 | $ 6,575 | |
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax | (2,448) | 20,061 | $ 5,391 | |
Amount reclassified from accumulated other comprehensive loss | $ (7,536) | $ 833 | $ 4,141 | |
Derivative Instrument, Gain (Loss) Reclassified from AOCI into Income, Effective Portion, Statement of Income or Comprehensive Income [Extensible Enumeration] | Interest Expense | Interest Expense | Interest Expense | |
Interest Expense | $ 154,249 | $ 146,186 | $ 145,170 | |
Early extinguishment of debt | (99) | |||
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months | $ 10,600 | |||
Derivative @ 1.443% [Member] | ||||
Derivative [Line Items] | ||||
Derivative, Inception Date | Dec. 01, 2022 | |||
Derivative, Maturity Date | Mar. 17, 2025 | |||
Derivative, Notional Amount | $ 24,000 | |||
Derivative, Description of Variable Rate Basis | SOFR | |||
Derivative, Fixed Interest Rate | 1.443% | |||
Assets (Liabilities) | [1] | $ 873 | 1,443 | |
Derivative @ 2.261% [Member] | ||||
Derivative [Line Items] | ||||
Derivative, Inception Date | Dec. 16, 2022 | |||
Derivative, Maturity Date | Jun. 02, 2027 | |||
Derivative, Notional Amount | $ 34,873 | |||
Derivative, Description of Variable Rate Basis | SOFR | |||
Derivative, Fixed Interest Rate | 2.261% | |||
Assets (Liabilities) | [1] | $ 1,540 | 2,158 | |
Derivative @ 3.995% [Member] | ||||
Derivative [Line Items] | ||||
Derivative, Inception Date | [2] | Jan. 17, 2023 | ||
Derivative, Maturity Date | Aug. 15, 2024 | |||
Derivative, Notional Amount | $ 13,033 | |||
Derivative, Description of Variable Rate Basis | SOFR | |||
Derivative, Fixed Interest Rate | 3.995% | |||
Assets (Liabilities) | [1] | $ 196 | ||
Derivative @ 1.498% [Member] | ||||
Derivative [Line Items] | ||||
Derivative, Inception Date | [2] | Jul. 17, 2017 | ||
Derivative, Maturity Date | Jul. 01, 2027 | |||
Derivative, Notional Amount | $ 43,150 | |||
Derivative, Description of Variable Rate Basis | SOFR | |||
Derivative, Fixed Interest Rate | 1.498% | |||
Assets (Liabilities) | [1] | $ 3,041 | ||
Derivative @ 1.475% [Member] | ||||
Derivative [Line Items] | ||||
Derivative, Inception Date | [2] | Sep. 21, 2016 | ||
Derivative, Maturity Date | Oct. 01, 2026 | |||
Derivative, Notional Amount | $ 8,768 | |||
Derivative, Description of Variable Rate Basis | SOFR | |||
Derivative, Fixed Interest Rate | 1.475% | |||
Assets (Liabilities) | [1] | $ 526 | ||
Derivative @ 4.830% [Member] | ||||
Derivative [Line Items] | ||||
Derivative, Inception Date | [2] | Aug. 16, 2018 | ||
Derivative, Maturity Date | Aug. 15, 2028 | |||
Derivative, Notional Amount | $ 8,764 | |||
Derivative, Description of Variable Rate Basis | SOFR | |||
Derivative, Fixed Interest Rate | 4.83% | |||
Assets (Liabilities) | [1] | $ 214 | ||
Derivative @ 3.165% [Member] | ||||
Derivative [Line Items] | ||||
Derivative, Inception Date | [2] | Mar. 18, 2019 | ||
Derivative, Maturity Date | Apr. 01, 2029 | |||
Derivative, Notional Amount | $ 23,078 | |||
Derivative, Description of Variable Rate Basis | SOFR | |||
Derivative, Fixed Interest Rate | 3.165% | |||
Assets (Liabilities) | [1] | $ 473 | ||
Derivative @ 3.053% [Member] | ||||
Derivative [Line Items] | ||||
Derivative, Inception Date | [2] | Feb. 01, 2002 | ||
Derivative, Maturity Date | Feb. 01, 2032 | |||
Derivative, Notional Amount | $ 33,667 | |||
Derivative, Description of Variable Rate Basis | SOFR | |||
Derivative, Fixed Interest Rate | 3.053% | |||
Assets (Liabilities) | [1] | $ 4,879 | ||
Derivative @ 3.633% [Member] | ||||
Derivative [Line Items] | ||||
Derivative, Inception Date | [2] | Jan. 03, 2023 | ||
Derivative, Maturity Date | Jul. 01, 2029 | |||
Derivative, Notional Amount | $ 10,944 | |||
Derivative, Description of Variable Rate Basis | SOFR | |||
Derivative, Fixed Interest Rate | 3.633% | |||
Assets (Liabilities) | [1] | $ 861 | ||
Derivative @ 3.705% [Member] | ||||
Derivative [Line Items] | ||||
Derivative, Inception Date | [2] | Jan. 03, 2023 | ||
Derivative, Maturity Date | Nov. 01, 2024 | |||
Derivative, Notional Amount | $ 5,000 | |||
Derivative, Description of Variable Rate Basis | SOFR | |||
Derivative, Fixed Interest Rate | 3.705% | |||
Assets (Liabilities) | [1] | $ 106 | ||
Derivative @ 4.229% [Member] | ||||
Derivative [Line Items] | ||||
Derivative, Inception Date | Feb. 24, 2023 | |||
Derivative, Maturity Date | Dec. 31, 2026 | |||
Derivative, Notional Amount | $ 15,342 | |||
Derivative, Description of Variable Rate Basis | SOFR | |||
Derivative, Fixed Interest Rate | 4.229% | |||
Assets (Liabilities) | [1] | $ (212) | 152 | |
Derivative @ 1.684% [Member] | ||||
Derivative [Line Items] | ||||
Derivative, Inception Date | Feb. 21, 2023 | |||
Derivative, Maturity Date | Dec. 21, 2026 | |||
Derivative, Notional Amount | $ 24,365 | |||
Derivative, Description of Variable Rate Basis | SOFR | |||
Derivative, Fixed Interest Rate | 1.684% | |||
Assets (Liabilities) | [1] | $ 1,386 | 1,939 | |
Derivative @ 4.314% [Member] | ||||
Derivative [Line Items] | ||||
Derivative, Inception Date | Sep. 19, 2023 | |||
Derivative, Maturity Date | Sep. 19, 2028 | |||
Derivative, Notional Amount | $ 30,919 | |||
Derivative, Description of Variable Rate Basis | SOFR | |||
Derivative, Fixed Interest Rate | 4.314% | |||
Assets (Liabilities) | [1] | $ (1,008) | $ 883 | |
Derivative @ 2.334% [Member] | ||||
Derivative [Line Items] | ||||
Derivative, Inception Date | [2] | Oct. 31, 2017 | ||
Derivative, Maturity Date | Oct. 01, 2024 | |||
Derivative, Notional Amount | $ 6,025 | |||
Derivative, Description of Variable Rate Basis | SOFR | |||
Derivative, Fixed Interest Rate | 2.334% | |||
Assets (Liabilities) | [1] | $ 118 | ||
Derivative @ 5.560% [Member] | ||||
Derivative [Line Items] | ||||
Derivative, Inception Date | Dec. 01, 2023 | |||
Derivative, Maturity Date | Dec. 01, 2026 | |||
Derivative, Notional Amount | $ 13,000 | |||
Derivative, Description of Variable Rate Basis | SOFR | |||
Derivative, Fixed Interest Rate | 4.06% | |||
Assets (Liabilities) | [1] | $ (115) | ||
[1] Derivatives in an asset position are included within Other assets in the accompanying Consolidated Balance Sheets, while those in a liability position are included within Accounts payable and other liabilities. Derivative instruments assumed as part of the UBP acquisitions. |
Fair Value Measurements (Detail
Fair Value Measurements (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Notes receivable | $ 2,109 | ||
Notes payable | 4,001,949 | $ 3,726,754 | |
Unsecured credit facilities | 152,000 | ||
Trading Securities, Change in Unrealized Holding Gain (Loss) | 4,200 | (8,000) | $ 1,700 |
Impairment of Real Estate | $ (84,389) | ||
Fair Value, Measurements, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Securities | 37,039 | 40,089 | |
Available-for-sale debt securities | 14,953 | 14,492 | |
Interest rate derivatives | 14,213 | 6,575 | |
Total | 66,205 | 61,156 | |
Interest Rate Cash Flow Hedge Liability at Fair Value | (1,335) | ||
Fair Value, Inputs, Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Notes receivable, fair value | 2,109 | ||
Notes Payable, Fair Value | 3,763,152 | 3,333,378 | |
Unsecured credit facilities | 152,000 | ||
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale debt securities | 14,953 | 14,492 | |
Interest rate derivatives | 14,213 | 6,575 | |
Total | 29,166 | 21,067 | |
Interest Rate Cash Flow Hedge Liability at Fair Value | (1,335) | ||
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Securities | 37,039 | 40,089 | |
Total | $ 37,039 | $ 40,089 |
Equity and Capital - Summary of
Equity and Capital - Summary of Terms and Conditions of Preferred Stock Outstanding (Details) - UBP Acquisition [Member] - Preferred Stock [Member] $ in Thousands | Dec. 31, 2023 USD ($) shares |
Class of Stock [Line Items] | |
Shares Issued and Outstanding | shares | 9,000,000 |
Liquidation Preference | $ | $ 225,000,000 |
Series A [Member] | |
Class of Stock [Line Items] | |
Date of Issuance | Aug. 18, 2023 |
Shares Issued and Outstanding | shares | 4,600,000 |
Liquidation Preference | $ | $ 115,000,000 |
Distribution Rate | 6.25% |
Series B [Member] | |
Class of Stock [Line Items] | |
Date of Issuance | Aug. 18, 2023 |
Shares Issued and Outstanding | shares | 4,400,000 |
Liquidation Preference | $ | $ 110,000,000 |
Distribution Rate | 5.875% |
Callable By Company | Oct. 01, 2024 |
Equity and Capital - Additional
Equity and Capital - Additional Information (Details) | 12 Months Ended | ||||
Feb. 07, 2024 $ / shares | Dec. 31, 2023 USD ($) Property $ / shares shares | Dec. 31, 2022 USD ($) $ / shares | Dec. 31, 2021 USD ($) $ / shares | Aug. 18, 2023 $ / shares | |
Class of Stock [Line Items] | |||||
Common stock dividend declared, per share | $ / shares | $ 2.62 | $ 2.525 | $ 2.41 | ||
Stock repurchased and retired during period, value | $ 20,006,000 | $ 75,419,000 | |||
Common stock remaining available for Issuance | shares | 500,000,000 | ||||
Net proceeds from common stock issuance | $ (33,000) | 61,284,000 | $ 82,510,000 | ||
Common stock repurchase program period | 2 years | ||||
Stock repurchase program, authorized amount | $ 250,000,000 | ||||
Stock repurchase program expiration date | Feb. 07, 2025 | ||||
Exchangeable operating partnership units | shares | 520,589 | ||||
Exchangeable operating partnership units issued for acquisition of real estate | $ 31,253,000 | ||||
Operating partnership number of properties acquired | Property | 2 | ||||
Subsequent Event [Member] | |||||
Class of Stock [Line Items] | |||||
Common stock dividend declared, per share | $ / shares | $ 0.67 | ||||
Dividends declared date | Feb. 07, 2024 | ||||
Dividends payable date | Apr. 03, 2024 | ||||
Dividends record date | Mar. 13, 2024 | ||||
Maximum [Member] | |||||
Class of Stock [Line Items] | |||||
Equity issuances, common shares authorized for issuance | shares | 500,000,000 | ||||
Series A Preferred Stock [Member] | Subsequent Event [Member] | |||||
Class of Stock [Line Items] | |||||
Dividends payable date | Apr. 30, 2024 | ||||
Dividends record date | Apr. 15, 2024 | ||||
Preferred stock dividend per share paid | $ / shares | $ 0.390625 | ||||
Series B Preferred Stock [Member] | Subsequent Event [Member] | |||||
Class of Stock [Line Items] | |||||
Dividends payable date | Apr. 30, 2024 | ||||
Dividends record date | Apr. 15, 2024 | ||||
Preferred stock dividend per share paid | $ / shares | $ 0.3672 | ||||
UBP Acquisition [Member] | Series B Preferred Stock [Member] | |||||
Class of Stock [Line Items] | |||||
Redeemable price per share | $ / shares | $ 25 | ||||
Common Stock [Member] | |||||
Class of Stock [Line Items] | |||||
Stock repurchased and retired during period, value | $ 3,000 | 13,000 | |||
Issuance of exchangeable operating partnership, units | shares | 3,340 | ||||
Common Stock [Member] | AOCI Attributable to Parent [Member] | |||||
Class of Stock [Line Items] | |||||
Stock repurchased and retired during period, shares | shares | 349,519 | ||||
Stock repurchased and retired during period, value | $ 20,000,000 | ||||
Shares repurchased weighted average price per share | $ / shares | $ 57.22 | ||||
Stock repurchased remaining authorized value | $ 230,000,000 | ||||
Parent [Member] | |||||
Class of Stock [Line Items] | |||||
Stock repurchased and retired during period, value | $ 20,006,000 | $ 75,419,000 | |||
Issuance of operating partnership units | shares | 151,228 | ||||
Partnership Units converted to cash | $ 9,200,000 |
Equity and Capital - Schedule o
Equity and Capital - Schedule of Partnership Units Outstanding (Details) - shares | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Class of Stock [Line Items] | ||
General partner units, outstanding | 184,581,000 | 171,125,000 |
Limited partner units, outstanding | 1,108,000 | 741,000 |
Total partnership units outstanding | 185,688,524 | 171,866,000 |
Operating Partnership [Member] | ||
Class of Stock [Line Items] | ||
General partner units, outstanding | 184,581,070 | |
Parent company, ownership percentage of outstanding common partnership units of operating partnership | 99.40% | |
Operating Partnership [Member] | General Partner [Member] | ||
Class of Stock [Line Items] | ||
Parent company, ownership percentage of outstanding common partnership units of operating partnership | 99.40% | 99.60% |
Stock-Based Compensation Stock-
Stock-Based Compensation Stock-Based Compensation (Details) - USD ($) $ in Thousands, shares in Millions | 12 Months Ended | |||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs, Capitalized Amount | $ (954) | $ (735) | $ (666) | |
Stock-based compensation, net of capitalization | $ 20,075 | 16,521 | 12,515 | |
Share-based compensation arrangement by share-based payment award, number of shares Authorized | 5 | |||
Share-based compensation arrangement by share-based payment award, number of shares available for grant | 4.1 | |||
Restricted Stock [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Allocated Share-based Compensation Expense | [1] | $ 17,277 | 16,667 | 12,651 |
Common Stock [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Noninterest Expense Directors Fees | 590 | 589 | 530 | |
Parent Company [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Stock-based compensation, net of capitalization | $ 16,913 | $ 16,521 | $ 12,515 | |
[1] Includes amortization of the grant date fair value of restricted stock awards over the respective vesting periods |
Stock-Based Compensation Restri
Stock-Based Compensation Restricted Stock (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 45.50% | 43.10% | 42.60% | ||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 3.75% | 1.39% | 0.18% | ||
Restricted Stock [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 711,699 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | [1] | (299,938) | |||
Stock Issued During Period, Shares, Restricted Stock Award, Forfeited | (1,529) | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 754,518 | [2] | 711,699 | ||
Non-Vested Restricted Stock Intrinsic Value | [2] | $ 50,553 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value | [1] | $ 65.74 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value | 65.38 | ||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ 68.28 | $ 72.86 | $ 46.55 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value | $ 19,717 | $ 17,797 | $ 10,939 | ||
Share-based Payment Arrangement, Non-vested Award, Excluding Option, Unrecognized, Amount | $ 20,300 | ||||
Share-based Payment Arrangement, Non-vested Award, Unrecognized, Period for Recognition | 3 years | ||||
Time Based Awards Granted [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | [3],[4] | 162,616 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | [3],[4] | $ 66.62 | |||
Performance Based Awards Granted [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | [3],[5] | 15,882 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | [3],[5] | $ 67.53 | |||
Market Based Awards Granted [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | [3],[6] | 129,305 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | [3],[6] | $ 70.47 | |||
Change in Market Based Awards Granted [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | [6] | 36,483 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | [6] | $ 66.78 | |||
Nonvested Awards Time Based Vesting [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Time-based awards vesting description | Time-based awards vest beginning on the first anniversary following the grant date over a one or four year service period | ||||
[1] The total intrinsic value of restricted stock vested during the years is summarized below (in thousands): Year ended December 31, 2023 2022 2021 Intrinsic value of restricted stock vested $ 19,717 $ 17,797 $ 10,939 As of December 31, 2023, there was $ 20.3 million of unrecognized compensation cost related to non-vested restricted stock granted under the Parent Company's Plan . When recognized, this compensation results in additional paid in capital in the accompanying Consolidated Statements of Equity of the Parent Company and in general partner preferred and common units in the accompanying Consolidated Statements of Capital of the Operating Partnership. This unrecognized compensation cost is expected to be recognized over the next three years . The Company issues new restricted stock from its authorized shares available at the date of grant. The weighted-average grant price for restricted stock granted during the years is summarized below: Year ended December 31, 2023 2022 2021 Weighted-average grant price for restricted stock $ 68.28 $ 72.86 $ 46.55 Time-based awards vest beginning on the first anniversary following the grant date over a one or four year service period . These grants are subject only to continued employment and are not dependent on future performance measures. Accordingly, if such vesting criteria are not met, compensation cost previously recognized would be reversed. Performance-based awards are earned subject to future performance measurements. Once the performance criteria are achieved and the actual number of shares earned is determined, shares vest over a required service period. The Company considers the likelihood of meeting the performance criteria based upon management's estimates from which it determines the amounts recognized as expense on a periodic basis. Market-based awards are earned dependent upon the Company's total shareholder return in relation to the shareholder return of a NAREIT index over a three-year period. Once the performance criteria are met and the actual number of shares earned is determined, the shares are immediately vested and distributed. The probability of meeting the criteria is considered when calculating the estimated fair value on the date of grant using a Monte Carlo simulation. These awards are accounted for as awards with market criteria, with compensation cost recognized over the service period, regardless of whether the performance criteria are achieved and the awards are ultimately earned. The significant assumptions underlying determination of fair values for market-based awards granted were as follows: Year ended December 31, 2023 2022 2021 Volatility 45.50 % 43.10 % 42.60 % Risk free interest rate 3.75 % 1.39 % 0.18 % |
Saving and Retirement Plans 401
Saving and Retirement Plans 401K Retirement Plan (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Defined contribution plan, percentage of employee deferrals to company matching contributions | 100% | ||
Profit Sharing Contribution, Vesting Period | 3 years | ||
Defined Contribution Plan, Cost | $ 5,300,000 | $ 4,400,000 | $ 4,100,000 |
Maximum [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Contribution Plan, Employer Discretionary Contribution Amount | $ 5,000 |
Saving and Retirement Plans Non
Saving and Retirement Plans Non-Qualified Deferred Compensation Plan (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Other Assets [Member] | ||
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items] | ||
Securities | $ 31,852 | $ 36,163 |
Accounts Payable and Other Liabilities [Member] | ||
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items] | ||
Deferred compensation obligation | $ 31,770 | $ 36,085 |
Earnings per Share and Unit (De
Earnings per Share and Unit (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | ||
Earnings Per Share Basic [Line Items] | ||||
Income attributable to common shareholders/unit holders - basic | $ 359,500 | $ 482,865 | $ 361,411 | |
Income per common share - basic | $ 2.04 | $ 2.82 | $ 2.12 | |
Income per common share - diluted | $ 2.04 | $ 2.81 | $ 2.12 | |
Continuing Operations [Member] | Parent Company [Member] | ||||
Earnings Per Share Basic [Line Items] | ||||
Income attributable to common shareholders/unit holders - basic | $ 359,500 | $ 482,865 | $ 361,411 | |
Income attributable to common shareholders/unit holders - diluted | $ 359,500 | $ 482,865 | $ 361,411 | |
Weighted average common shares/units outstanding for basic EPS/EPU | 176,085 | 171,404 | 170,236 | |
Weighted average common shares/units outstanding for diluted EPS/EPU | [1],[2] | 176,371 | 171,791 | 170,694 |
Income per common share - basic | $ 2.04 | $ 2.82 | $ 2.12 | |
Income per common share - diluted | $ 2.04 | $ 2.81 | $ 2.12 | |
Continuing Operations [Member] | Partnership Interest [Member] | ||||
Earnings Per Share Basic [Line Items] | ||||
Income attributable to common shareholders/unit holders - basic | $ 361,508 | $ 484,970 | $ 363,026 | |
Income attributable to common shareholders/unit holders - diluted | $ 361,508 | $ 484,970 | $ 363,026 | |
Weighted average common shares/units outstanding for basic EPS/EPU | 177,038 | 172,152 | 170,998 | |
Weighted average common shares/units outstanding for diluted EPS/EPU | [1],[2] | 177,324 | 172,540 | 171,456 |
Income per common share - basic | $ 2.04 | $ 2.82 | $ 2.12 | |
Income per common share - diluted | $ 2.04 | $ 2.81 | $ 2.12 | |
[1] Includes the dilutive impact of unvested restricted stock. Using the treasury stock method, weighted average common shares outstanding for basic and diluted earnings per share exclude 1.0 million shares issuable under the forward ATM equity offering outstanding during 2021 as they would be anti-dilutive. |
Earnings per Share and Unit (Pa
Earnings per Share and Unit (Parenthetical) (Details) - ATM Equity Offering Program [Member] shares in Millions | 12 Months Ended |
Dec. 31, 2021 shares | |
Earnings Per Share Basic [Line Items] | |
Anti-dilutive securities excludes from earnings per share amount | 1 |
Partnership Interest [Member] | |
Earnings Per Share Basic [Line Items] | |
Anti-dilutive securities excludes from earnings per share amount | 1 |
Commitments and Contingencies (
Commitments and Contingencies (Details) - USD ($) $ in Millions | May 17, 2023 | Dec. 31, 2023 | Dec. 31, 2022 |
Loss Contingencies [Line Items] | |||
Line of Credit Facility, Maximum Borrowing Capacity | $ 50 | ||
Letters of Credit Outstanding, Amount | $ 8.5 | $ 9.4 | |
Merger Agreement [Member] | |||
Loss Contingencies [Line Items] | |||
Merger agreement date | May 17, 2023 |
Schedule III - Consolidated R_2
Schedule III - Consolidated Real Estate and Accumulated Depreciation (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Initial Cost | |||
Land | $ 5,506,209 | ||
Building & Improvements | 6,848,826 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,099,356 | ||
Total Cost | |||
Land | 5,561,362 | ||
Building & Improvements | 7,893,029 | ||
Total | 13,454,391 | $ 11,858,064 | $ 11,495,581 |
Accumulated Depreciation | (2,691,386) | (2,415,860) | (2,174,963) |
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 10,763,005 | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (757,833) | ||
Aggregate cost for Federal income tax purposes | 10,800,000 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Beginning balance | 11,858,064 | 11,495,581 | 11,101,858 |
Acquired properties and land | 1,445,428 | 224,653 | 479,708 |
Developments and improvements | 206,085 | 171,629 | 172,012 |
Disposal of building and tenant improvements | (14,149) | (29,523) | (10,898) |
Sale of properties | (19,366) | (4,276) | (107,090) |
Properties held for sale | (21,671) | (50,873) | |
Provision for impairment | (89,136) | ||
Ending balance | 13,454,391 | 11,858,064 | 11,495,581 |
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Beginning balance | 2,415,860 | 2,174,963 | 1,994,108 |
Depreciation expense | 293,705 | 270,520 | 253,437 |
Disposal of building and tenant improvements | (14,149) | (29,523) | (10,898) |
Sale of properties | (569) | (100) | (28,715) |
Accumulated depreciation related to properties held for sale | (3,461) | (28,110) | |
Provision for impairment | (4,859) | ||
Ending balance | $ 2,691,386 | $ 2,415,860 | $ 2,174,963 |
Building and Improvements [Member] | |||
Total Cost | |||
Property, plant and equipment, useful life | 40 years | ||
101 7th Avenue [Member] | |||
Initial Cost | |||
Land | $ 48,340 | ||
Building & Improvements | 34,895 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (57,260) | ||
Total Cost | |||
Land | 15,378 | ||
Building & Improvements | 10,597 | ||
Total | 25,975 | ||
Accumulated Depreciation | (1,818) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 24,157 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 25,975 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 1,818 | ||
111 Kraft Avenue [Member] | |||
Initial Cost | |||
Land | 1,220 | ||
Building & Improvements | 3,932 | ||
Total Cost | |||
Land | 1,220 | ||
Building & Improvements | 3,932 | ||
Total | 5,152 | ||
Accumulated Depreciation | (39) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (5,113) | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 5,152 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 39 | ||
1175 Third Avenue [Member] | |||
Initial Cost | |||
Land | 40,560 | ||
Building & Improvements | 25,617 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 866 | ||
Total Cost | |||
Land | 40,560 | ||
Building & Improvements | 26,483 | ||
Total | 67,043 | ||
Accumulated Depreciation | (4,243) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 62,800 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 67,043 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 4,243 | ||
1225-1239 Second Ave [Member] | |||
Initial Cost | |||
Land | 23,033 | ||
Building & Improvements | 17,173 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (33) | ||
Total Cost | |||
Land | 23,033 | ||
Building & Improvements | 17,140 | ||
Total | 40,173 | ||
Accumulated Depreciation | (3,637) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 36,536 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 40,173 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 3,637 | ||
200 Potrero [Member] | |||
Initial Cost | |||
Land | 4,860 | ||
Building & Improvements | 2,251 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 135 | ||
Total Cost | |||
Land | 4,860 | ||
Building & Improvements | 2,386 | ||
Total | 7,246 | ||
Accumulated Depreciation | (535) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 6,711 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 7,246 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 535 | ||
22 Crescent Road [Member] | |||
Initial Cost | |||
Land | 2,198 | ||
Building & Improvements | 272 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (318) | ||
Total Cost | |||
Land | 2,152 | ||
Total | 2,152 | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 2,152 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 2,152 | ||
25 Valley Drive [Member] | |||
Initial Cost | |||
Land | 3,141 | ||
Building & Improvements | 2,945 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | |||
Total Cost | |||
Land | 3,141 | ||
Building & Improvements | 2,945 | ||
Total | 6,086 | ||
Accumulated Depreciation | (37) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 6,049 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 6,086 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 37 | ||
260-270 Sawmill Road [Member] | |||
Initial Cost | |||
Land | 3,943 | ||
Building & Improvements | 58 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | |||
Total Cost | |||
Land | 3,943 | ||
Building & Improvements | 58 | ||
Total | 4,001 | ||
Accumulated Depreciation | (1) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 4,000 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 4,001 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 1 | ||
27 Purchase Street [Member] | |||
Initial Cost | |||
Land | 903 | ||
Building & Improvements | 2,239 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | |||
Total Cost | |||
Land | 903 | ||
Building & Improvements | 2,239 | ||
Total | 3,142 | ||
Accumulated Depreciation | (21) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 3,121 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 3,142 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 21 | ||
321-323 Railroad Ave [Member] | |||
Initial Cost | |||
Land | 3,044 | ||
Building & Improvements | 2,414 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1 | ||
Total Cost | |||
Land | 3,044 | ||
Building & Improvements | 2,415 | ||
Total | 5,459 | ||
Accumulated Depreciation | (29) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 5,430 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 5,459 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 29 | ||
410 South Broadway [Member] | |||
Initial Cost | |||
Land | 2,372 | ||
Building & Improvements | 1,603 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | |||
Total Cost | |||
Land | 2,372 | ||
Building & Improvements | 1,603 | ||
Total | 3,975 | ||
Accumulated Depreciation | (15) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 3,960 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 3,975 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 15 | ||
470 Main Street [Member] | |||
Initial Cost | |||
Land | 1,021 | ||
Building & Improvements | 4,361 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (1) | ||
Total Cost | |||
Land | 1,021 | ||
Building & Improvements | 4,360 | ||
Total | 5,381 | ||
Accumulated Depreciation | (70) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 5,311 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 5,381 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 70 | ||
48 Purchase Street [Member] | |||
Initial Cost | |||
Land | 1,214 | ||
Building & Improvements | 4,414 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 6 | ||
Total Cost | |||
Land | 1,214 | ||
Building & Improvements | 4,420 | ||
Total | 5,634 | ||
Accumulated Depreciation | (42) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 5,592 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 5,634 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 42 | ||
4S Commons Town Center [Member] | |||
Initial Cost | |||
Land | 30,760 | ||
Building & Improvements | 35,830 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 3,021 | ||
Total Cost | |||
Land | 30,812 | ||
Building & Improvements | 38,799 | ||
Total | 69,611 | ||
Accumulated Depreciation | (30,862) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 38,749 | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (79,032) | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 69,611 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 30,862 | ||
530 Old Post Rd [Member] | |||
Initial Cost | |||
Land | 1,673 | ||
Building & Improvements | 552 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | |||
Total Cost | |||
Land | 1,673 | ||
Building & Improvements | 552 | ||
Total | 2,225 | ||
Accumulated Depreciation | (11) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 2,214 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 2,225 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 11 | ||
6401 Roosevelt [Member] | |||
Initial Cost | |||
Land | 2,685 | ||
Building & Improvements | 934 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 288 | ||
Total Cost | |||
Land | 2,685 | ||
Building & Improvements | 1,222 | ||
Total | 3,907 | ||
Accumulated Depreciation | (139) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 3,768 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 3,907 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 139 | ||
7 Riversville [Member] | |||
Initial Cost | |||
Land | 2,170 | ||
Building & Improvements | 1,634 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | |||
Total Cost | |||
Land | 2,170 | ||
Building & Improvements | 1,634 | ||
Total | 3,804 | ||
Accumulated Depreciation | (20) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 3,784 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 3,804 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 20 | ||
90-30 Metropolitan Avenue [Member] | |||
Initial Cost | |||
Land | 16,614 | ||
Building & Improvements | 24,171 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 343 | ||
Total Cost | |||
Land | 16,614 | ||
Building & Improvements | 24,514 | ||
Total | 41,128 | ||
Accumulated Depreciation | (4,940) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 36,188 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 41,128 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 4,940 | ||
91 Danbury Road [Member] | |||
Initial Cost | |||
Land | 732 | ||
Building & Improvements | 851 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 25 | ||
Total Cost | |||
Land | 732 | ||
Building & Improvements | 876 | ||
Total | 1,608 | ||
Accumulated Depreciation | (220) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 1,388 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 1,608 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 220 | ||
970 High Ridge Center [Member] | |||
Initial Cost | |||
Land | 5,695 | ||
Building & Improvements | 5,204 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (1) | ||
Total Cost | |||
Land | 5,695 | ||
Building & Improvements | 5,203 | ||
Total | 10,898 | ||
Accumulated Depreciation | (67) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 10,831 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 10,898 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 67 | ||
Airport Plaza [Member] | |||
Initial Cost | |||
Land | 1,293 | ||
Building & Improvements | 11,119 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | |||
Total Cost | |||
Land | 1,293 | ||
Building & Improvements | 11,119 | ||
Total | 12,412 | ||
Accumulated Depreciation | (119) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 12,293 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 12,412 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 119 | ||
Alafaya Village [Member] | |||
Initial Cost | |||
Land | 3,004 | ||
Building & Improvements | 5,852 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 220 | ||
Total Cost | |||
Land | 3,004 | ||
Building & Improvements | 6,072 | ||
Total | 9,076 | ||
Accumulated Depreciation | (1,398) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 7,678 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 9,076 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 1,398 | ||
Alden Bridge [Member] | |||
Initial Cost | |||
Land | 17,014 | ||
Building & Improvements | 21,958 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 623 | ||
Total Cost | |||
Land | 17,014 | ||
Building & Improvements | 22,581 | ||
Total | 39,595 | ||
Accumulated Depreciation | (2,363) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 37,232 | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (26,000) | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 39,595 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 2,363 | ||
Aldi Square [Member] | |||
Initial Cost | |||
Land | 6,394 | ||
Building & Improvements | 1,704 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | |||
Total Cost | |||
Land | 6,394 | ||
Building & Improvements | 1,704 | ||
Total | 8,098 | ||
Accumulated Depreciation | (41) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 8,057 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 8,098 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 41 | ||
Amerige Heights Town Center [Member] | |||
Initial Cost | |||
Land | 10,109 | ||
Building & Improvements | 11,288 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,591 | ||
Total Cost | |||
Land | 10,109 | ||
Building & Improvements | 12,879 | ||
Total | 22,988 | ||
Accumulated Depreciation | (6,797) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 16,191 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 22,988 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 6,797 | ||
Anastasia Plaza [Member] | |||
Initial Cost | |||
Land | 9,065 | ||
Building & Improvements | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,270 | ||
Total Cost | |||
Land | 3,338 | ||
Building & Improvements | 6,997 | ||
Total | 10,335 | ||
Accumulated Depreciation | (4,250) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 6,085 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 10,335 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 4,250 | ||
Apple Valley Square [Member] | |||
Initial Cost | |||
Land | 5,438 | ||
Building & Improvements | 21,328 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (33) | ||
Total Cost | |||
Land | 5,358 | ||
Building & Improvements | 21,375 | ||
Total | 26,733 | ||
Accumulated Depreciation | (2,788) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 23,945 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 26,733 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 2,788 | ||
Arcadian Shopping Center [Member] | |||
Initial Cost | |||
Land | 14,546 | ||
Building & Improvements | 26,716 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 31 | ||
Total Cost | |||
Land | 14,546 | ||
Building & Improvements | 26,747 | ||
Total | 41,293 | ||
Accumulated Depreciation | (298) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 40,995 | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (13,033) | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 41,293 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 298 | ||
Ashford Place [Member] | |||
Initial Cost | |||
Land | 2,584 | ||
Building & Improvements | 9,865 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,278 | ||
Total Cost | |||
Land | 2,584 | ||
Building & Improvements | 11,143 | ||
Total | 13,727 | ||
Accumulated Depreciation | (9,409) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 4,318 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 13,727 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 9,409 | ||
Atlantic Village [Member] | |||
Initial Cost | |||
Land | 4,282 | ||
Building & Improvements | 18,827 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 2,145 | ||
Total Cost | |||
Land | 4,868 | ||
Building & Improvements | 20,386 | ||
Total | 25,254 | ||
Accumulated Depreciation | (6,183) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 19,071 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 25,254 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 6,183 | ||
Avenida Biscayane (fka Aventura Square) [Member] | |||
Initial Cost | |||
Land | 88,098 | ||
Building & Improvements | 20,771 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 764 | ||
Total Cost | |||
Land | 89,657 | ||
Building & Improvements | 19,976 | ||
Total | 109,633 | ||
Accumulated Depreciation | (4,374) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 105,259 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 109,633 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 4,374 | ||
Aventura Shopping Center [Member] | |||
Initial Cost | |||
Land | 2,751 | ||
Building & Improvements | 10,459 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 11,071 | ||
Total Cost | |||
Land | 9,486 | ||
Building & Improvements | 14,795 | ||
Total | 24,281 | ||
Accumulated Depreciation | (5,369) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 18,912 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 24,281 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 5,369 | ||
Baederwood Shopping Center [Member] | |||
Initial Cost | |||
Land | 12,016 | ||
Building & Improvements | 33,556 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 887 | ||
Total Cost | |||
Land | 12,016 | ||
Building & Improvements | 34,443 | ||
Total | 46,459 | ||
Accumulated Depreciation | (2,158) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 44,301 | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (24,365) | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 46,459 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 2,158 | ||
Balboa Mesa Shopping Center [Member] | |||
Initial Cost | |||
Land | 23,074 | ||
Building & Improvements | 33,838 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 14,113 | ||
Total Cost | |||
Land | 27,758 | ||
Building & Improvements | 43,267 | ||
Total | 71,025 | ||
Accumulated Depreciation | (21,154) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 49,871 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 71,025 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 21,154 | ||
Banco Popular Building [Member] | |||
Initial Cost | |||
Land | 2,160 | ||
Building & Improvements | 1,137 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (1,294) | ||
Total Cost | |||
Land | 2,003 | ||
Total | 2,003 | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 2,003 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 2,003 | ||
Belleview Square [Member] | |||
Initial Cost | |||
Land | 8,132 | ||
Building & Improvements | 9,756 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 5,081 | ||
Total Cost | |||
Land | 8,323 | ||
Building & Improvements | 14,646 | ||
Total | 22,969 | ||
Accumulated Depreciation | (10,673) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 12,296 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 22,969 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 10,673 | ||
Belmont Chase [Member] | |||
Initial Cost | |||
Land | 13,881 | ||
Building & Improvements | 17,193 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (247) | ||
Total Cost | |||
Land | 14,372 | ||
Building & Improvements | 16,455 | ||
Total | 30,827 | ||
Accumulated Depreciation | (9,231) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 21,596 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 30,827 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 9,231 | ||
Berkshire Commons [Member] | |||
Initial Cost | |||
Land | 2,295 | ||
Building & Improvements | 9,551 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 3,061 | ||
Total Cost | |||
Land | 2,965 | ||
Building & Improvements | 11,942 | ||
Total | 14,907 | ||
Accumulated Depreciation | (9,854) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 5,053 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 14,907 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 9,854 | ||
Bethany Park Place [Member] | |||
Initial Cost | |||
Land | 4,832 | ||
Building & Improvements | 12,405 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 532 | ||
Total Cost | |||
Land | 4,832 | ||
Building & Improvements | 12,937 | ||
Total | 17,769 | ||
Accumulated Depreciation | (1,440) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 16,329 | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (10,200) | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 17,769 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 1,440 | ||
Bethel Hub Center [Member] | |||
Initial Cost | |||
Land | 1,738 | ||
Building & Improvements | 3,918 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 88 | ||
Total Cost | |||
Land | 1,738 | ||
Building & Improvements | 4,006 | ||
Total | 5,744 | ||
Accumulated Depreciation | (47) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 5,697 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 5,744 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 47 | ||
Biltmore Shopping Center [Member] | |||
Initial Cost | |||
Land | 4,632 | ||
Building & Improvements | 3,766 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 11 | ||
Total Cost | |||
Land | 4,632 | ||
Building & Improvements | 3,777 | ||
Total | 8,409 | ||
Accumulated Depreciation | (47) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 8,362 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 8,409 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 47 | ||
Bird 107 Plaza [Member] | |||
Initial Cost | |||
Land | 10,371 | ||
Building & Improvements | 5,136 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 125 | ||
Total Cost | |||
Land | 10,371 | ||
Building & Improvements | 5,261 | ||
Total | 15,632 | ||
Accumulated Depreciation | (1,452) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 14,180 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 15,632 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 1,452 | ||
Bird Ludlam [Member] | |||
Initial Cost | |||
Land | 42,663 | ||
Building & Improvements | 38,481 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,126 | ||
Total Cost | |||
Land | 42,663 | ||
Building & Improvements | 39,607 | ||
Total | 82,270 | ||
Accumulated Depreciation | (9,570) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 72,700 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 82,270 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 9,570 | ||
Black Rock [Member] | |||
Initial Cost | |||
Land | 22,251 | ||
Building & Improvements | 20,815 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 587 | ||
Total Cost | |||
Land | 22,251 | ||
Building & Improvements | 21,402 | ||
Total | 43,653 | ||
Accumulated Depreciation | (7,461) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 36,192 | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (15,342) | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 43,653 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 7,461 | ||
Blakeney Town Center [Member] | |||
Initial Cost | |||
Land | 82,411 | ||
Building & Improvements | 89,165 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 3,178 | ||
Total Cost | |||
Land | 82,425 | ||
Building & Improvements | 92,329 | ||
Total | 174,754 | ||
Accumulated Depreciation | (7,764) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 166,990 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 174,754 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 7,764 | ||
Bloomfield Crossing [Member] | |||
Initial Cost | |||
Land | 3,365 | ||
Building & Improvements | 11,453 | ||
Total Cost | |||
Land | 3,365 | ||
Building & Improvements | 11,453 | ||
Total | 14,818 | ||
Accumulated Depreciation | (137) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 14,681 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 14,818 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 137 | ||
Bloomingdale Square [Member] | |||
Initial Cost | |||
Land | 3,940 | ||
Building & Improvements | 14,912 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 23,012 | ||
Total Cost | |||
Land | 8,639 | ||
Building & Improvements | 33,225 | ||
Total | 41,864 | ||
Accumulated Depreciation | (13,921) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 27,943 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 41,864 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 13,921 | ||
Blossom Valley [Member] | |||
Initial Cost | |||
Land | 31,988 | ||
Building & Improvements | 5,850 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 823 | ||
Total Cost | |||
Land | 31,988 | ||
Building & Improvements | 6,673 | ||
Total | 38,661 | ||
Accumulated Depreciation | (901) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 37,760 | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (22,300) | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 38,661 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 901 | ||
Boca Village Square [Member] | |||
Initial Cost | |||
Land | 43,888 | ||
Building & Improvements | 9,726 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 353 | ||
Total Cost | |||
Land | 43,888 | ||
Building & Improvements | 10,079 | ||
Total | 53,967 | ||
Accumulated Depreciation | (3,389) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 50,578 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 53,967 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 3,389 | ||
Boonton ACME Shopping Center [Member] | |||
Initial Cost | |||
Land | 8,664 | ||
Building & Improvements | 9,601 | ||
Total Cost | |||
Land | 8,664 | ||
Building & Improvements | 9,601 | ||
Total | 18,265 | ||
Accumulated Depreciation | (139) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 18,126 | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (10,585) | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 18,265 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 139 | ||
Boulevard Center [Member] | |||
Initial Cost | |||
Land | 3,659 | ||
Building & Improvements | 10,787 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 3,750 | ||
Total Cost | |||
Land | 3,659 | ||
Building & Improvements | 14,537 | ||
Total | 18,196 | ||
Accumulated Depreciation | (9,678) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 8,518 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 18,196 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 9,678 | ||
Boynton Lakes Plaza [Member] | |||
Initial Cost | |||
Land | 2,628 | ||
Building & Improvements | 11,236 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 5,218 | ||
Total Cost | |||
Land | 3,606 | ||
Building & Improvements | 15,476 | ||
Total | 19,082 | ||
Accumulated Depreciation | (9,941) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 9,141 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 19,082 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 9,941 | ||
Boynton Plaza [Member] | |||
Initial Cost | |||
Land | 12,879 | ||
Building & Improvements | 20,713 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 597 | ||
Total Cost | |||
Land | 12,879 | ||
Building & Improvements | 21,310 | ||
Total | 34,189 | ||
Accumulated Depreciation | (5,343) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 28,846 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 34,189 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 5,343 | ||
Brentwood Plaza [Member] | |||
Initial Cost | |||
Land | 2,788 | ||
Building & Improvements | 3,473 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 380 | ||
Total Cost | |||
Land | 2,788 | ||
Building & Improvements | 3,853 | ||
Total | 6,641 | ||
Accumulated Depreciation | (1,999) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 4,642 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 6,641 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 1,999 | ||
Briarcliff La Vista [Member] | |||
Initial Cost | |||
Land | 694 | ||
Building & Improvements | 3,292 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 785 | ||
Total Cost | |||
Land | 694 | ||
Building & Improvements | 4,077 | ||
Total | 4,771 | ||
Accumulated Depreciation | (3,518) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 1,253 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 4,771 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 3,518 | ||
Briarcliff Village [Member] | |||
Initial Cost | |||
Land | 4,597 | ||
Building & Improvements | 24,836 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 6,113 | ||
Total Cost | |||
Land | 5,519 | ||
Building & Improvements | 30,027 | ||
Total | 35,546 | ||
Accumulated Depreciation | (22,604) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 12,942 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 35,546 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 22,604 | ||
Brick Walk [Member] | |||
Initial Cost | |||
Land | 25,299 | ||
Building & Improvements | 41,995 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 2,258 | ||
Total Cost | |||
Land | 25,299 | ||
Building & Improvements | 44,253 | ||
Total | 69,552 | ||
Accumulated Depreciation | (13,635) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 55,917 | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (30,919) | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 69,552 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 13,635 | ||
BridgeMill Market [Member] | |||
Initial Cost | |||
Land | 7,521 | ||
Building & Improvements | 13,306 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,057 | ||
Total Cost | |||
Land | 7,522 | ||
Building & Improvements | 14,362 | ||
Total | 21,884 | ||
Accumulated Depreciation | (4,303) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 17,581 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 21,884 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 4,303 | ||
Bridgeton [Member] | |||
Initial Cost | |||
Land | 3,033 | ||
Building & Improvements | 8,137 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 621 | ||
Total Cost | |||
Land | 3,067 | ||
Building & Improvements | 8,724 | ||
Total | 11,791 | ||
Accumulated Depreciation | (4,005) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 7,786 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 11,791 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 4,005 | ||
Brighten Park [Member] | |||
Initial Cost | |||
Land | 3,983 | ||
Building & Improvements | 18,687 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 12,076 | ||
Total Cost | |||
Land | 3,887 | ||
Building & Improvements | 30,859 | ||
Total | 34,746 | ||
Accumulated Depreciation | (23,089) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 11,657 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 34,746 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 23,089 | ||
Broadway Plaza [Member] | |||
Initial Cost | |||
Land | 40,723 | ||
Building & Improvements | 42,170 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 2,015 | ||
Total Cost | |||
Land | 40,723 | ||
Building & Improvements | 44,185 | ||
Total | 84,908 | ||
Accumulated Depreciation | (10,433) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 74,475 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 84,908 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 10,433 | ||
Brooklyn Station on Riverside [Member] | |||
Initial Cost | |||
Land | 7,019 | ||
Building & Improvements | 8,688 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 353 | ||
Total Cost | |||
Land | 6,998 | ||
Building & Improvements | 9,062 | ||
Total | 16,060 | ||
Accumulated Depreciation | (3,453) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 12,607 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 16,060 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 3,453 | ||
Brookside Plaza [Member] | |||
Initial Cost | |||
Land | 35,161 | ||
Building & Improvements | 17,494 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 5,966 | ||
Total Cost | |||
Land | 36,163 | ||
Building & Improvements | 22,458 | ||
Total | 58,621 | ||
Accumulated Depreciation | (7,166) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 51,455 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 58,621 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 7,166 | ||
Buckhead Court [Member] | |||
Initial Cost | |||
Land | 1,417 | ||
Building & Improvements | 7,432 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 4,425 | ||
Total Cost | |||
Land | 1,417 | ||
Building & Improvements | 11,857 | ||
Total | 13,274 | ||
Accumulated Depreciation | (10,379) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 2,895 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 13,274 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 10,379 | ||
Buckhead Landing [Member] | |||
Initial Cost | |||
Land | 45,502 | ||
Building & Improvements | 16,642 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (3,255) | ||
Total Cost | |||
Land | 42,552 | ||
Building & Improvements | 16,337 | ||
Total | 58,889 | ||
Accumulated Depreciation | (8,210) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 50,679 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 58,889 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 8,210 | ||
Buckhead Station [Member] | |||
Initial Cost | |||
Land | 70,411 | ||
Building & Improvements | 36,518 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 937 | ||
Total Cost | |||
Land | 70,448 | ||
Building & Improvements | 37,418 | ||
Total | 107,866 | ||
Accumulated Depreciation | (10,853) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 97,013 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 107,866 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 10,853 | ||
Buckley Square [Member] | |||
Initial Cost | |||
Land | 2,970 | ||
Building & Improvements | 5,978 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,424 | ||
Total Cost | |||
Land | 2,970 | ||
Building & Improvements | 7,402 | ||
Total | 10,372 | ||
Accumulated Depreciation | (5,222) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 5,150 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 10,372 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 5,222 | ||
Caligo Crossing [Member] | |||
Initial Cost | |||
Land | 2,459 | ||
Building & Improvements | 4,897 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 163 | ||
Total Cost | |||
Land | 2,546 | ||
Building & Improvements | 4,973 | ||
Total | 7,519 | ||
Accumulated Depreciation | (4,274) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 3,245 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 7,519 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 4,274 | ||
Cambridge Square [Member] | |||
Initial Cost | |||
Land | 774 | ||
Building & Improvements | 4,347 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 604 | ||
Total Cost | |||
Land | 774 | ||
Building & Improvements | 4,951 | ||
Total | 5,725 | ||
Accumulated Depreciation | (4,358) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 1,367 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 5,725 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 4,358 | ||
Carmel Commons [Member] | |||
Initial Cost | |||
Land | 2,466 | ||
Building & Improvements | 12,548 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 5,844 | ||
Total Cost | |||
Land | 3,422 | ||
Building & Improvements | 17,436 | ||
Total | 20,858 | ||
Accumulated Depreciation | (12,733) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 8,125 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 20,858 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 12,733 | ||
Carmel ShopRite Plaza [Member] | |||
Initial Cost | |||
Land | 5,828 | ||
Building & Improvements | 15,321 | ||
Total Cost | |||
Land | 5,828 | ||
Building & Improvements | 15,321 | ||
Total | 21,149 | ||
Accumulated Depreciation | (174) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 20,975 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 21,149 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 174 | ||
Carriage Gate [Member[ | |||
Initial Cost | |||
Land | 833 | ||
Building & Improvements | 4,974 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 3,233 | ||
Total Cost | |||
Land | 1,302 | ||
Building & Improvements | 7,738 | ||
Total | 9,040 | ||
Accumulated Depreciation | (7,541) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 1,499 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 9,040 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 7,541 | ||
Carytown Exchange [Member] | |||
Initial Cost | |||
Land | 24,121 | ||
Building & Improvements | 21,263 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (44) | ||
Total Cost | |||
Land | 24,122 | ||
Building & Improvements | 21,218 | ||
Total | 45,340 | ||
Accumulated Depreciation | (4,162) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 41,178 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 45,340 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 4,162 | ||
Cashmere Corners [Member] | |||
Initial Cost | |||
Land | 3,187 | ||
Building & Improvements | 9,397 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 686 | ||
Total Cost | |||
Land | 3,187 | ||
Building & Improvements | 10,083 | ||
Total | 13,270 | ||
Accumulated Depreciation | (3,127) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 10,143 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 13,270 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 3,127 | ||
Cedar Commons [Member] | |||
Initial Cost | |||
Land | 4,704 | ||
Building & Improvements | 16,748 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 140 | ||
Total Cost | |||
Land | 4,704 | ||
Building & Improvements | 16,888 | ||
Total | 21,592 | ||
Accumulated Depreciation | (1,717) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 19,875 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 21,592 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 1,717 | ||
Cedar Hill Shopping Center [Member] | |||
Initial Cost | |||
Land | 7,266 | ||
Building & Improvements | 9,372 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 35 | ||
Total Cost | |||
Land | 7,280 | ||
Building & Improvements | 9,393 | ||
Total | 16,673 | ||
Accumulated Depreciation | (120) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 16,553 | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (7,035) | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 16,673 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 120 | ||
Centerplace of Greeley III [Member] | |||
Initial Cost | |||
Land | 6,661 | ||
Building & Improvements | 11,502 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 244 | ||
Total Cost | |||
Land | 4,607 | ||
Building & Improvements | 13,800 | ||
Total | 18,407 | ||
Accumulated Depreciation | (7,740) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 10,667 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 18,407 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 7,740 | ||
Charlotte Square [Member] | |||
Initial Cost | |||
Land | 1,141 | ||
Building & Improvements | 6,845 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,511 | ||
Total Cost | |||
Land | 1,141 | ||
Building & Improvements | 8,356 | ||
Total | 9,497 | ||
Accumulated Depreciation | (2,794) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 6,703 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 9,497 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 2,794 | ||
Chasewood Plaza [Member] | |||
Initial Cost | |||
Land | 4,612 | ||
Building & Improvements | 20,829 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 5,947 | ||
Total Cost | |||
Land | 6,886 | ||
Building & Improvements | 24,502 | ||
Total | 31,388 | ||
Accumulated Depreciation | (21,856) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 9,532 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 31,388 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 21,856 | ||
Chastain Square [Member] | |||
Initial Cost | |||
Land | 30,074 | ||
Building & Improvements | 12,644 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 2,479 | ||
Total Cost | |||
Land | 30,074 | ||
Building & Improvements | 15,123 | ||
Total | 45,197 | ||
Accumulated Depreciation | (5,178) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 40,019 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 45,197 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 5,178 | ||
Cherry Grove [Member] | |||
Initial Cost | |||
Land | 3,533 | ||
Building & Improvements | 15,862 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 5,763 | ||
Total Cost | |||
Land | 3,533 | ||
Building & Improvements | 21,625 | ||
Total | 25,158 | ||
Accumulated Depreciation | (14,466) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 10,692 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 25,158 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 14,466 | ||
Chilmark Shopping Center [Member] | |||
Initial Cost | |||
Land | 4,952 | ||
Building & Improvements | 15,407 | ||
Total Cost | |||
Land | 4,952 | ||
Building & Improvements | 15,407 | ||
Total | 20,359 | ||
Accumulated Depreciation | (168) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 20,191 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 20,359 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 168 | ||
Chimney Rock [Member] | |||
Initial Cost | |||
Land | 23,623 | ||
Building & Improvements | 48,200 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 685 | ||
Total Cost | |||
Land | 23,623 | ||
Building & Improvements | 48,885 | ||
Total | 72,508 | ||
Accumulated Depreciation | (18,914) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 53,594 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 72,508 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 18,914 | ||
Circle Center West [Member] | |||
Initial Cost | |||
Land | 22,930 | ||
Building & Improvements | 9,028 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 304 | ||
Total Cost | |||
Land | 22,930 | ||
Building & Improvements | 9,332 | ||
Total | 32,262 | ||
Accumulated Depreciation | (2,513) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 29,749 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 32,262 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 2,513 | ||
Circle Marina Center [Member] | |||
Initial Cost | |||
Land | 29,303 | ||
Building & Improvements | 18,437 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 77 | ||
Total Cost | |||
Land | 28,880 | ||
Building & Improvements | 18,937 | ||
Total | 47,817 | ||
Accumulated Depreciation | (2,642) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 45,175 | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (24,000) | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 47,817 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 2,642 | ||
CityLine Market [Member] | |||
Initial Cost | |||
Land | 12,208 | ||
Building & Improvements | 15,839 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 464 | ||
Total Cost | |||
Land | 12,306 | ||
Building & Improvements | 16,205 | ||
Total | 28,511 | ||
Accumulated Depreciation | (6,478) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 22,033 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 28,511 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 6,478 | ||
CityLine Market Ph II [Member] | |||
Initial Cost | |||
Land | 2,744 | ||
Building & Improvements | 3,081 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 104 | ||
Total Cost | |||
Land | 2,744 | ||
Building & Improvements | 3,185 | ||
Total | 5,929 | ||
Accumulated Depreciation | (1,136) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 4,793 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 5,929 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 1,136 | ||
Clayton Valley Shopping Center [Member] | |||
Initial Cost | |||
Land | 24,189 | ||
Building & Improvements | 35,422 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 2,474 | ||
Total Cost | |||
Land | 24,538 | ||
Building & Improvements | 37,547 | ||
Total | 62,085 | ||
Accumulated Depreciation | (30,482) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 31,603 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 62,085 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 30,482 | ||
Clocktower Plaza Shopping Center [Member] | |||
Initial Cost | |||
Land | 49,630 | ||
Building & Improvements | 19,624 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 550 | ||
Total Cost | |||
Land | 49,630 | ||
Building & Improvements | 20,174 | ||
Total | 69,804 | ||
Accumulated Depreciation | (5,041) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 64,763 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 69,804 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 5,041 | ||
Clybourn Commons [Member] | |||
Initial Cost | |||
Land | 15,056 | ||
Building & Improvements | 5,594 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 499 | ||
Total Cost | |||
Land | 15,056 | ||
Building & Improvements | 6,093 | ||
Total | 21,149 | ||
Accumulated Depreciation | (2,220) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 18,929 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 21,149 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 2,220 | ||
Cochran's Crossing [Member] | |||
Initial Cost | |||
Land | 13,154 | ||
Building & Improvements | 12,315 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 2,839 | ||
Total Cost | |||
Land | 13,154 | ||
Building & Improvements | 15,154 | ||
Total | 28,308 | ||
Accumulated Depreciation | (12,149) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 16,159 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 28,308 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 12,149 | ||
Compo Acres Shopping Center [Member] | |||
Initial Cost | |||
Land | 28,627 | ||
Building & Improvements | 10,395 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 952 | ||
Total Cost | |||
Land | 28,627 | ||
Building & Improvements | 11,347 | ||
Total | 39,974 | ||
Accumulated Depreciation | (2,735) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 37,239 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 39,974 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 2,735 | ||
Concord Shopping Plaza [Member] | |||
Initial Cost | |||
Land | 30,819 | ||
Building & Improvements | 36,506 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,699 | ||
Total Cost | |||
Land | 31,272 | ||
Building & Improvements | 37,752 | ||
Total | 69,024 | ||
Accumulated Depreciation | (8,597) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 60,427 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 69,024 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 8,597 | ||
Copps Hill Plaza [Member] | |||
Initial Cost | |||
Land | 29,515 | ||
Building & Improvements | 40,673 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 2,473 | ||
Total Cost | |||
Land | 29,514 | ||
Building & Improvements | 43,147 | ||
Total | 72,661 | ||
Accumulated Depreciation | (9,074) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 63,587 | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (7,706) | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 72,661 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 9,074 | ||
Coral Reef Shopping Center [Member] | |||
Initial Cost | |||
Land | 14,922 | ||
Building & Improvements | 15,200 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 2,542 | ||
Total Cost | |||
Land | 15,332 | ||
Building & Improvements | 17,332 | ||
Total | 32,664 | ||
Accumulated Depreciation | (4,734) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 27,930 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 32,664 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 4,734 | ||
Corkscrew Village [Member] | |||
Initial Cost | |||
Land | 8,407 | ||
Building & Improvements | 8,004 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 899 | ||
Total Cost | |||
Land | 8,407 | ||
Building & Improvements | 8,903 | ||
Total | 17,310 | ||
Accumulated Depreciation | (4,641) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 12,669 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 17,310 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 4,641 | ||
Cornerstone Square [Member] | |||
Initial Cost | |||
Land | 1,772 | ||
Building & Improvements | 6,944 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,988 | ||
Total Cost | |||
Land | 1,772 | ||
Building & Improvements | 8,932 | ||
Total | 10,704 | ||
Accumulated Depreciation | (7,179) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 3,525 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 10,704 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 7,179 | ||
Corral Hollow [Member] | |||
Initial Cost | |||
Land | 8,887 | ||
Building & Improvements | 24,121 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 62 | ||
Total Cost | |||
Land | 8,887 | ||
Building & Improvements | 24,183 | ||
Total | 33,070 | ||
Accumulated Depreciation | (1,649) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 31,421 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 33,070 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 1,649 | ||
Corvallis Market Center [Member] | |||
Initial Cost | |||
Land | 6,674 | ||
Building & Improvements | 12,244 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 915 | ||
Total Cost | |||
Land | 6,696 | ||
Building & Improvements | 13,137 | ||
Total | 19,833 | ||
Accumulated Depreciation | (8,297) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 11,536 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 19,833 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 8,297 | ||
Cos Cob Commons [Member] | |||
Initial Cost | |||
Land | 6,608 | ||
Building & Improvements | 14,967 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 11 | ||
Total Cost | |||
Land | 6,608 | ||
Building & Improvements | 14,978 | ||
Total | 21,586 | ||
Accumulated Depreciation | (163) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 21,423 | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (13,142) | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 21,586 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 163 | ||
Cos Cob Plaza [Member] | |||
Initial Cost | |||
Land | 4,030 | ||
Building & Improvements | 4,225 | ||
Total Cost | |||
Land | 4,030 | ||
Building & Improvements | 4,225 | ||
Total | 8,255 | ||
Accumulated Depreciation | (53) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 8,202 | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (3,902) | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 8,255 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 53 | ||
Country Walk Plaza [Member] | |||
Initial Cost | |||
Land | 18,713 | ||
Building & Improvements | 20,373 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 421 | ||
Total Cost | |||
Land | 18,713 | ||
Building & Improvements | 20,794 | ||
Total | 39,507 | ||
Accumulated Depreciation | (2,857) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 36,650 | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (16,000) | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 39,507 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 2,857 | ||
Countryside Shops [Member] | |||
Initial Cost | |||
Land | 17,982 | ||
Building & Improvements | 35,574 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 13,746 | ||
Total Cost | |||
Land | 23,175 | ||
Building & Improvements | 44,127 | ||
Total | 67,302 | ||
Accumulated Depreciation | (14,636) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 52,666 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 67,302 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 14,636 | ||
Courtyard Shopping Center [Member] | |||
Initial Cost | |||
Land | 5,867 | ||
Building & Improvements | 4 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 3 | ||
Total Cost | |||
Land | 5,867 | ||
Building & Improvements | 7 | ||
Total | 5,874 | ||
Accumulated Depreciation | (3) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 5,871 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 5,874 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 3 | ||
Culver Center [Member] | |||
Initial Cost | |||
Land | 108,841 | ||
Building & Improvements | 32,308 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 3,391 | ||
Total Cost | |||
Land | 108,841 | ||
Building & Improvements | 35,699 | ||
Total | 144,540 | ||
Accumulated Depreciation | (9,219) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 135,321 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 144,540 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 9,219 | ||
Danbury Green [Member] | |||
Initial Cost | |||
Land | 30,303 | ||
Building & Improvements | 19,255 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,967 | ||
Total Cost | |||
Land | 30,303 | ||
Building & Improvements | 21,222 | ||
Total | 51,525 | ||
Accumulated Depreciation | (4,970) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 46,555 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 51,525 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 4,970 | ||
Danbury Square [Member] | |||
Initial Cost | |||
Land | 6,592 | ||
Building & Improvements | 23,543 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 542 | ||
Total Cost | |||
Land | 6,592 | ||
Building & Improvements | 24,085 | ||
Total | 30,677 | ||
Accumulated Depreciation | (248) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 30,429 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 30,677 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 248 | ||
Dardenne Crossing [Member] | |||
Initial Cost | |||
Land | 4,194 | ||
Building & Improvements | 4,005 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 803 | ||
Total Cost | |||
Land | 4,343 | ||
Building & Improvements | 4,659 | ||
Total | 9,002 | ||
Accumulated Depreciation | (2,726) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 6,276 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 9,002 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 2,726 | ||
Darinor Plaza [Member] | |||
Initial Cost | |||
Land | 693 | ||
Building & Improvements | 32,140 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,328 | ||
Total Cost | |||
Land | 711 | ||
Building & Improvements | 33,450 | ||
Total | 34,161 | ||
Accumulated Depreciation | (8,335) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 25,826 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 34,161 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 8,335 | ||
DeCicco's Plaza [Member] | |||
Initial Cost | |||
Land | 8,890 | ||
Building & Improvements | 23,368 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 30 | ||
Total Cost | |||
Land | 8,890 | ||
Building & Improvements | 23,398 | ||
Total | 32,288 | ||
Accumulated Depreciation | (240) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 32,048 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 32,288 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 240 | ||
Diablo Plaza [Member] | |||
Initial Cost | |||
Land | 5,300 | ||
Building & Improvements | 8,181 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 2,880 | ||
Total Cost | |||
Land | 5,300 | ||
Building & Improvements | 11,061 | ||
Total | 16,361 | ||
Accumulated Depreciation | (7,125) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 9,236 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 16,361 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 7,125 | ||
Dunwoody Hall [Member] | |||
Initial Cost | |||
Land | 15,145 | ||
Building & Improvements | 12,110 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 924 | ||
Total Cost | |||
Land | 15,145 | ||
Building & Improvements | 13,034 | ||
Total | 28,179 | ||
Accumulated Depreciation | (1,255) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 26,924 | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (13,800) | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 28,179 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 1,255 | ||
Dunwoody Village [Member] | |||
Initial Cost | |||
Land | 3,342 | ||
Building & Improvements | 15,934 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 7,519 | ||
Total Cost | |||
Land | 3,342 | ||
Building & Improvements | 23,453 | ||
Total | 26,795 | ||
Accumulated Depreciation | (18,473) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 8,322 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 26,795 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 18,473 | ||
East Meadow [Member] | |||
Initial Cost | |||
Land | 12,325 | ||
Building & Improvements | 21,378 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 715 | ||
Total Cost | |||
Land | 12,267 | ||
Building & Improvements | 22,151 | ||
Total | 34,418 | ||
Accumulated Depreciation | (1,923) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 32,495 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 34,418 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 1,923 | ||
East Meadow Plaza [Member] | |||
Initial Cost | |||
Land | 13,135 | ||
Building & Improvements | 25,070 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (27) | ||
Total Cost | |||
Land | 13,137 | ||
Building & Improvements | 25,041 | ||
Total | 38,178 | ||
Accumulated Depreciation | (1,902) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 36,276 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 38,178 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 1,902 | ||
East Pointe [Member] | |||
Initial Cost | |||
Land | 1,730 | ||
Building & Improvements | 7,189 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 2,622 | ||
Total Cost | |||
Land | 1,941 | ||
Building & Improvements | 9,600 | ||
Total | 11,541 | ||
Accumulated Depreciation | (7,486) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 4,055 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 11,541 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 7,486 | ||
East San Marco [Member] | |||
Initial Cost | |||
Land | 4,663 | ||
Building & Improvements | 14,313 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (144) | ||
Total Cost | |||
Land | 4,519 | ||
Building & Improvements | 14,313 | ||
Total | 18,832 | ||
Accumulated Depreciation | (1,023) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 17,809 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 18,832 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 1,023 | ||
Eastchester Plaza [Member] | |||
Initial Cost | |||
Land | 5,017 | ||
Building & Improvements | 7,379 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 20 | ||
Total Cost | |||
Land | 5,017 | ||
Building & Improvements | 7,399 | ||
Total | 12,416 | ||
Accumulated Depreciation | (82) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 12,334 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 12,416 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 82 | ||
Eastport [Member] | |||
Initial Cost | |||
Land | 2,985 | ||
Building & Improvements | 5,649 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 784 | ||
Total Cost | |||
Land | 2,925 | ||
Building & Improvements | 6,493 | ||
Total | 9,418 | ||
Accumulated Depreciation | (568) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 8,850 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 9,418 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 568 | ||
El Camino Shopping Center [Member] | |||
Initial Cost | |||
Land | 7,600 | ||
Building & Improvements | 11,538 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 15,728 | ||
Total Cost | |||
Land | 10,328 | ||
Building & Improvements | 24,538 | ||
Total | 34,866 | ||
Accumulated Depreciation | (13,584) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 21,282 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 34,866 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 13,584 | ||
El Cerrito Plaza [Member] | |||
Initial Cost | |||
Land | 11,025 | ||
Building & Improvements | 27,371 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 3,818 | ||
Total Cost | |||
Land | 11,025 | ||
Building & Improvements | 31,189 | ||
Total | 42,214 | ||
Accumulated Depreciation | (15,804) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 26,410 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 42,214 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 15,804 | ||
El Norte Pkwy Plaza [Member] | |||
Initial Cost | |||
Land | 2,834 | ||
Building & Improvements | 7,370 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 3,039 | ||
Total Cost | |||
Land | 3,263 | ||
Building & Improvements | 9,980 | ||
Total | 13,243 | ||
Accumulated Depreciation | (7,042) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 6,201 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 13,243 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 7,042 | ||
Emerson Plaza [Member] | |||
Initial Cost | |||
Land | 8,615 | ||
Building & Improvements | 7,835 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 65 | ||
Total Cost | |||
Land | 8,641 | ||
Building & Improvements | 7,874 | ||
Total | 16,515 | ||
Accumulated Depreciation | (99) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 16,416 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 16,515 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 99 | ||
Encina Grande [Member] | |||
Initial Cost | |||
Land | 5,040 | ||
Building & Improvements | 11,572 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 20,254 | ||
Total Cost | |||
Land | 10,518 | ||
Building & Improvements | 26,348 | ||
Total | 36,866 | ||
Accumulated Depreciation | (17,639) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 19,227 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 36,866 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 17,639 | ||
Fairfield Center [Member] | |||
Initial Cost | |||
Land | 6,731 | ||
Building & Improvements | 29,420 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,757 | ||
Total Cost | |||
Land | 6,731 | ||
Building & Improvements | 31,177 | ||
Total | 37,908 | ||
Accumulated Depreciation | (9,194) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 28,714 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 37,908 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 9,194 | ||
Fairfield Crossroads [Member] | |||
Initial Cost | |||
Land | 9,982 | ||
Building & Improvements | 9,796 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (1) | ||
Total Cost | |||
Land | 9,982 | ||
Building & Improvements | 9,795 | ||
Total | 19,777 | ||
Accumulated Depreciation | (119) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 19,658 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 19,777 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 119 | ||
Falcon Marketplace [Member] | |||
Initial Cost | |||
Land | 1,340 | ||
Building & Improvements | 4,168 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 507 | ||
Total Cost | |||
Land | 1,246 | ||
Building & Improvements | 4,769 | ||
Total | 6,015 | ||
Accumulated Depreciation | (3,276) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 2,739 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 6,015 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 3,276 | ||
Fellsway Plaza [Member] | |||
Initial Cost | |||
Land | 30,712 | ||
Building & Improvements | 7,327 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 10,350 | ||
Total Cost | |||
Land | 34,924 | ||
Building & Improvements | 13,465 | ||
Total | 48,389 | ||
Accumulated Depreciation | (8,847) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 39,542 | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (34,873) | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 48,389 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 8,847 | ||
Fenton Marketplace [Member] | |||
Initial Cost | |||
Land | 2,298 | ||
Building & Improvements | 8,510 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (7,919) | ||
Total Cost | |||
Land | 512 | ||
Building & Improvements | 2,377 | ||
Total | 2,889 | ||
Accumulated Depreciation | (1,428) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 1,461 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 2,889 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 1,428 | ||
Ferry Street Plaza [Member] | |||
Initial Cost | |||
Land | 7,960 | ||
Building & Improvements | 24,439 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 100 | ||
Total Cost | |||
Land | 7,960 | ||
Building & Improvements | 24,539 | ||
Total | 32,499 | ||
Accumulated Depreciation | (258) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 32,241 | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (8,796) | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 32,499 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 258 | ||
Fleming Island [Member] | |||
Initial Cost | |||
Land | 3,077 | ||
Building & Improvements | 11,587 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 3,735 | ||
Total Cost | |||
Land | 3,111 | ||
Building & Improvements | 15,288 | ||
Total | 18,399 | ||
Accumulated Depreciation | (10,020) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 8,379 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 18,399 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 10,020 | ||
Fountain Square [Member] | |||
Initial Cost | |||
Land | 29,722 | ||
Building & Improvements | 29,041 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 438 | ||
Total Cost | |||
Land | 29,784 | ||
Building & Improvements | 29,417 | ||
Total | 59,201 | ||
Accumulated Depreciation | (14,462) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 44,739 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 59,201 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 14,462 | ||
French Valley Village Center [Member] | |||
Initial Cost | |||
Land | 11,924 | ||
Building & Improvements | 16,856 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 543 | ||
Total Cost | |||
Land | 11,822 | ||
Building & Improvements | 17,501 | ||
Total | 29,323 | ||
Accumulated Depreciation | (15,956) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 13,367 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 29,323 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 15,956 | ||
Friars Mission Center [Member] | |||
Initial Cost | |||
Land | 6,660 | ||
Building & Improvements | 28,021 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 2,922 | ||
Total Cost | |||
Land | 6,660 | ||
Building & Improvements | 30,943 | ||
Total | 37,603 | ||
Accumulated Depreciation | (19,452) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 18,151 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 37,603 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 19,452 | ||
Gardens Square [Member] | |||
Initial Cost | |||
Land | 2,136 | ||
Building & Improvements | 8,273 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 894 | ||
Total Cost | |||
Land | 2,136 | ||
Building & Improvements | 9,167 | ||
Total | 11,303 | ||
Accumulated Depreciation | (6,220) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 5,083 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 11,303 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 6,220 | ||
Gateway Shopping Center [Member] | |||
Initial Cost | |||
Land | 52,665 | ||
Building & Improvements | 7,134 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 12,960 | ||
Total Cost | |||
Land | 55,087 | ||
Building & Improvements | 17,672 | ||
Total | 72,759 | ||
Accumulated Depreciation | (20,577) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 52,182 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 72,759 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 20,577 | ||
Gelson's Westlake Market Plaza [Member] | |||
Initial Cost | |||
Land | 3,157 | ||
Building & Improvements | 11,153 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 6,182 | ||
Total Cost | |||
Land | 4,654 | ||
Building & Improvements | 15,838 | ||
Total | 20,492 | ||
Accumulated Depreciation | (10,315) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 10,177 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 20,492 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 10,315 | ||
Glen Oak Plaza [Member] | |||
Initial Cost | |||
Land | 4,103 | ||
Building & Improvements | 12,951 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,826 | ||
Total Cost | |||
Land | 4,124 | ||
Building & Improvements | 14,756 | ||
Total | 18,880 | ||
Accumulated Depreciation | (6,036) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 12,844 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 18,880 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 6,036 | ||
Glenwood Village [Member] | |||
Initial Cost | |||
Land | 1,194 | ||
Building & Improvements | 5,381 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 613 | ||
Total Cost | |||
Land | 1,194 | ||
Building & Improvements | 5,994 | ||
Total | 7,188 | ||
Accumulated Depreciation | (5,082) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 2,106 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 7,188 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 5,082 | ||
Golden Hills Plaza [Member] | |||
Initial Cost | |||
Land | 12,699 | ||
Building & Improvements | 18,482 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 3,843 | ||
Total Cost | |||
Land | 11,521 | ||
Building & Improvements | 23,503 | ||
Total | 35,024 | ||
Accumulated Depreciation | (13,838) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 21,186 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 35,024 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 13,838 | ||
Goodwives Shopping Center [Member] | |||
Initial Cost | |||
Land | 17,091 | ||
Building & Improvements | 26,274 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 184 | ||
Total Cost | |||
Land | 17,092 | ||
Building & Improvements | 26,457 | ||
Total | 43,549 | ||
Accumulated Depreciation | (282) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 43,267 | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (23,078) | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 43,549 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 282 | ||
Grand Ridge Plaza [Member] | |||
Initial Cost | |||
Land | 24,208 | ||
Building & Improvements | 61,033 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 6,199 | ||
Total Cost | |||
Land | 24,918 | ||
Building & Improvements | 66,522 | ||
Total | 91,440 | ||
Accumulated Depreciation | (32,434) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 59,006 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 91,440 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 32,434 | ||
Greens Farms Plaza [Member] | |||
Initial Cost | |||
Land | 4,831 | ||
Building & Improvements | 3,138 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (1) | ||
Total Cost | |||
Land | 4,831 | ||
Building & Improvements | 3,137 | ||
Total | 7,968 | ||
Accumulated Depreciation | (59) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 7,909 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 7,968 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 59 | ||
Greenswich Commons [Member] | |||
Initial Cost | |||
Land | 3,831 | ||
Building & Improvements | 6,990 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1 | ||
Total Cost | |||
Land | 3,831 | ||
Building & Improvements | 6,991 | ||
Total | 10,822 | ||
Accumulated Depreciation | (72) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 10,750 | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (4,866) | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 10,822 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 72 | ||
Greenwood Shopping Centre [Member] | |||
Initial Cost | |||
Land | 7,777 | ||
Building & Improvements | 24,829 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,079 | ||
Total Cost | |||
Land | 7,777 | ||
Building & Improvements | 25,908 | ||
Total | 33,685 | ||
Accumulated Depreciation | (6,997) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 26,688 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 33,685 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 6,997 | ||
H Mart Plaza [Member] | |||
Initial Cost | |||
Land | 1,296 | ||
Building & Improvements | 2,469 | ||
Total Cost | |||
Land | 1,296 | ||
Building & Improvements | 2,469 | ||
Total | 3,765 | ||
Accumulated Depreciation | (24) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 3,741 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 3,765 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 24 | ||
Hammocks Town Center [Member] | |||
Initial Cost | |||
Land | 28,764 | ||
Building & Improvements | 25,113 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,484 | ||
Total Cost | |||
Land | 28,764 | ||
Building & Improvements | 26,597 | ||
Total | 55,361 | ||
Accumulated Depreciation | (7,202) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 48,159 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 55,361 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 7,202 | ||
Hancock [Member] | |||
Initial Cost | |||
Land | 8,232 | ||
Building & Improvements | 28,260 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (13,805) | ||
Total Cost | |||
Land | 4,692 | ||
Building & Improvements | 17,995 | ||
Total | 22,687 | ||
Accumulated Depreciation | (12,162) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 10,525 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 22,687 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 12,162 | ||
Harpeth Village Fieldstone [Member] | |||
Initial Cost | |||
Land | 2,284 | ||
Building & Improvements | 9,443 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 947 | ||
Total Cost | |||
Land | 2,284 | ||
Building & Improvements | 10,390 | ||
Total | 12,674 | ||
Accumulated Depreciation | (6,769) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 5,905 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 12,674 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 6,769 | ||
Harrison Shopping Square [Member] | |||
Initial Cost | |||
Land | 6,034 | ||
Building & Improvements | 5,195 | ||
Total Cost | |||
Land | 6,034 | ||
Building & Improvements | 5,195 | ||
Total | 11,229 | ||
Accumulated Depreciation | (71) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 11,158 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 11,229 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 71 | ||
Hasley Canyon Village [Member] | |||
Initial Cost | |||
Land | 17,630 | ||
Building & Improvements | 8,231 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 65 | ||
Total Cost | |||
Land | 17,630 | ||
Building & Improvements | 8,296 | ||
Total | 25,926 | ||
Accumulated Depreciation | (881) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 25,045 | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (16,000) | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 25,926 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 881 | ||
Heritage 202 Center [Member] | |||
Initial Cost | |||
Land | 1,694 | ||
Building & Improvements | 5,901 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (1) | ||
Total Cost | |||
Land | 1,694 | ||
Building & Improvements | 5,900 | ||
Total | 7,594 | ||
Accumulated Depreciation | (67) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 7,527 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 7,594 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 67 | ||
Heritage Plaza [Member] | |||
Initial Cost | |||
Land | 12,390 | ||
Building & Improvements | 26,097 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 14,924 | ||
Total Cost | |||
Land | 12,215 | ||
Building & Improvements | 41,196 | ||
Total | 53,411 | ||
Accumulated Depreciation | (22,818) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 30,593 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 53,411 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 22,818 | ||
Hershey [Member] | |||
Initial Cost | |||
Land | 7 | ||
Building & Improvements | 808 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 12 | ||
Total Cost | |||
Land | 7 | ||
Building & Improvements | 820 | ||
Total | 827 | ||
Accumulated Depreciation | (601) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 226 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 827 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 601 | ||
Hewlett Crossing I & II [Member] | |||
Initial Cost | |||
Land | 11,850 | ||
Building & Improvements | 18,205 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 949 | ||
Total Cost | |||
Land | 11,850 | ||
Building & Improvements | 19,154 | ||
Total | 31,004 | ||
Accumulated Depreciation | (3,806) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 27,198 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 31,004 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 3,806 | ||
Hibernia Pavilion [Member] | |||
Initial Cost | |||
Land | 4,929 | ||
Building & Improvements | 5,065 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 244 | ||
Total Cost | |||
Land | 4,929 | ||
Building & Improvements | 5,309 | ||
Total | 10,238 | ||
Accumulated Depreciation | (4,498) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 5,740 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 10,238 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 4,498 | ||
High Ridge Center [Member] | |||
Initial Cost | |||
Land | 26,078 | ||
Building & Improvements | 21,460 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 4 | ||
Total Cost | |||
Land | 26,078 | ||
Building & Improvements | 21,464 | ||
Total | 47,542 | ||
Accumulated Depreciation | (254) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 47,288 | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (9,047) | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 47,542 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 254 | ||
Hillcrest Village [Member] | |||
Initial Cost | |||
Land | 1,600 | ||
Building & Improvements | 1,909 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 51 | ||
Total Cost | |||
Land | 1,600 | ||
Building & Improvements | 1,960 | ||
Total | 3,560 | ||
Accumulated Depreciation | (1,245) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 2,315 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 3,560 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 1,245 | ||
Hilltop Village [Member] | |||
Initial Cost | |||
Land | 2,995 | ||
Building & Improvements | 4,581 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 4,423 | ||
Total Cost | |||
Land | 3,104 | ||
Building & Improvements | 8,895 | ||
Total | 11,999 | ||
Accumulated Depreciation | (5,268) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 6,731 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 11,999 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 5,268 | ||
Hinsdale Lake Commons [Member] | |||
Initial Cost | |||
Land | 5,734 | ||
Building & Improvements | 16,709 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 12,058 | ||
Total Cost | |||
Land | 8,343 | ||
Building & Improvements | 26,158 | ||
Total | 34,501 | ||
Accumulated Depreciation | (18,222) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 16,279 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 34,501 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 18,222 | ||
Holly Park [Member] | |||
Initial Cost | |||
Land | 8,975 | ||
Building & Improvements | 23,799 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 2,334 | ||
Total Cost | |||
Land | 8,828 | ||
Building & Improvements | 26,280 | ||
Total | 35,108 | ||
Accumulated Depreciation | (9,330) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 25,778 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 35,108 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 9,330 | ||
Howell Mill Village [Member] | |||
Initial Cost | |||
Land | 5,157 | ||
Building & Improvements | 14,279 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 7,444 | ||
Total Cost | |||
Land | 9,610 | ||
Building & Improvements | 17,270 | ||
Total | 26,880 | ||
Accumulated Depreciation | (9,115) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 17,765 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 26,880 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 9,115 | ||
Hyde Park [Member] | |||
Initial Cost | |||
Land | 9,809 | ||
Building & Improvements | 39,905 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 11,630 | ||
Total Cost | |||
Land | 9,971 | ||
Building & Improvements | 51,373 | ||
Total | 61,344 | ||
Accumulated Depreciation | (31,988) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 29,356 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 61,344 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 31,988 | ||
Indian Springs Center [Member] | |||
Initial Cost | |||
Land | 24,974 | ||
Building & Improvements | 25,903 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,318 | ||
Total Cost | |||
Land | 25,050 | ||
Building & Improvements | 27,145 | ||
Total | 52,195 | ||
Accumulated Depreciation | (9,052) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 43,143 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 52,195 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 9,052 | ||
Indigo Square [Member] | |||
Initial Cost | |||
Land | 8,087 | ||
Building & Improvements | 9,849 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (4) | ||
Total Cost | |||
Land | 8,087 | ||
Building & Improvements | 9,845 | ||
Total | 17,932 | ||
Accumulated Depreciation | (2,940) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 14,992 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 17,932 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 2,940 | ||
Inglewood Plaza [Member] | |||
Initial Cost | |||
Land | 1,300 | ||
Building & Improvements | 2,159 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,283 | ||
Total Cost | |||
Land | 1,300 | ||
Building & Improvements | 3,442 | ||
Total | 4,742 | ||
Accumulated Depreciation | (2,099) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 2,643 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 4,742 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 2,099 | ||
Island Village [Member] | |||
Initial Cost | |||
Land | 12,354 | ||
Building & Improvements | 23,660 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 175 | ||
Total Cost | |||
Land | 12,361 | ||
Building & Improvements | 23,828 | ||
Total | 36,189 | ||
Accumulated Depreciation | (1,721) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 34,468 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 36,189 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 1,721 | ||
Keller Town Center [Member] | |||
Initial Cost | |||
Land | 2,294 | ||
Building & Improvements | 12,841 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,382 | ||
Total Cost | |||
Land | 2,404 | ||
Building & Improvements | 14,113 | ||
Total | 16,517 | ||
Accumulated Depreciation | (8,293) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 8,224 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 16,517 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 8,293 | ||
Kirkman Shoppes [Member] | |||
Initial Cost | |||
Land | 9,364 | ||
Building & Improvements | 26,243 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 787 | ||
Total Cost | |||
Land | 9,367 | ||
Building & Improvements | 27,027 | ||
Total | 36,394 | ||
Accumulated Depreciation | (6,805) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 29,589 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 36,394 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 6,805 | ||
Kirkwood Commons [Member] | |||
Initial Cost | |||
Land | 6,772 | ||
Building & Improvements | 16,224 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,479 | ||
Total Cost | |||
Land | 6,802 | ||
Building & Improvements | 17,673 | ||
Total | 24,475 | ||
Accumulated Depreciation | (7,209) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 17,266 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 24,475 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 7,209 | ||
Klahanie Shopping Center [Member] | |||
Initial Cost | |||
Land | 14,451 | ||
Building & Improvements | 20,089 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 441 | ||
Total Cost | |||
Land | 14,451 | ||
Building & Improvements | 20,530 | ||
Total | 34,981 | ||
Accumulated Depreciation | (5,244) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 29,737 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 34,981 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 5,244 | ||
Knotts Landing [Member] | |||
Initial Cost | |||
Land | 2,062 | ||
Building & Improvements | 23,536 | ||
Total Cost | |||
Land | 2,062 | ||
Building & Improvements | 23,536 | ||
Total | 25,598 | ||
Accumulated Depreciation | (201) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 25,397 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 25,598 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 201 | ||
Kroger New Albany Center [Member] | |||
Initial Cost | |||
Land | 3,844 | ||
Building & Improvements | 6,599 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,455 | ||
Total Cost | |||
Land | 3,844 | ||
Building & Improvements | 8,054 | ||
Total | 11,898 | ||
Accumulated Depreciation | (6,789) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 5,109 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 11,898 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 6,789 | ||
Lake Mary Centre [Member] | |||
Initial Cost | |||
Land | 24,036 | ||
Building & Improvements | 57,476 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 2,541 | ||
Total Cost | |||
Land | 24,036 | ||
Building & Improvements | 60,017 | ||
Total | 84,053 | ||
Accumulated Depreciation | (16,636) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 67,417 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 84,053 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 16,636 | ||
Lake Pine Plaza [Member] | |||
Initial Cost | |||
Land | 2,008 | ||
Building & Improvements | 7,632 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,286 | ||
Total Cost | |||
Land | 2,029 | ||
Building & Improvements | 8,897 | ||
Total | 10,926 | ||
Accumulated Depreciation | (5,852) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 5,074 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 10,926 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 5,852 | ||
Lakeview Shopping Center [Member] | |||
Initial Cost | |||
Land | 6,341 | ||
Building & Improvements | 22,296 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 313 | ||
Total Cost | |||
Land | 6,341 | ||
Building & Improvements | 22,609 | ||
Total | 28,950 | ||
Accumulated Depreciation | (283) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 28,667 | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (10,944) | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 28,950 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 283 | ||
Lebanon Center [Member] | |||
Initial Cost | |||
Land | 3,913 | ||
Building & Improvements | 7,874 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,310 | ||
Total Cost | |||
Land | 3,913 | ||
Building & Improvements | 9,184 | ||
Total | 13,097 | ||
Accumulated Depreciation | (7,333) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 5,764 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 13,097 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 7,333 | ||
Littleton Square [Member] | |||
Initial Cost | |||
Land | 2,030 | ||
Building & Improvements | 8,859 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (3,519) | ||
Total Cost | |||
Land | 2,433 | ||
Building & Improvements | 4,937 | ||
Total | 7,370 | ||
Accumulated Depreciation | (3,437) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 3,933 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 7,370 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 3,437 | ||
Lloyd King Center [Member] | |||
Initial Cost | |||
Land | 1,779 | ||
Building & Improvements | 10,060 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,661 | ||
Total Cost | |||
Land | 1,779 | ||
Building & Improvements | 11,721 | ||
Total | 13,500 | ||
Accumulated Depreciation | (7,766) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 5,734 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 13,500 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 7,766 | ||
Lower Nazareth Commons [Member] | |||
Initial Cost | |||
Land | 15,992 | ||
Building & Improvements | 12,964 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 4,112 | ||
Total Cost | |||
Land | 16,343 | ||
Building & Improvements | 16,725 | ||
Total | 33,068 | ||
Accumulated Depreciation | (14,163) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 18,905 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 33,068 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 14,163 | ||
Main & Bailey [Member] | |||
Initial Cost | |||
Land | 603 | ||
Building & Improvements | 13,428 | ||
Total Cost | |||
Land | 603 | ||
Building & Improvements | 13,428 | ||
Total | 14,031 | ||
Accumulated Depreciation | (174) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 13,857 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 14,031 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 174 | ||
Mandarin Landing [Member] | |||
Initial Cost | |||
Land | 7,913 | ||
Building & Improvements | 27,230 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 658 | ||
Total Cost | |||
Land | 7,913 | ||
Building & Improvements | 27,888 | ||
Total | 35,801 | ||
Accumulated Depreciation | (10,155) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 25,646 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 35,801 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 10,155 | ||
Marine's Taste Of Italy [Member] | |||
Initial Cost | |||
Land | 420 | ||
Building & Improvements | 1,266 | ||
Total Cost | |||
Land | 420 | ||
Building & Improvements | 1,266 | ||
Total | 1,686 | ||
Accumulated Depreciation | (11) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 1,675 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 1,686 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 11 | ||
Market at Colonnade Center [Member] | |||
Initial Cost | |||
Land | 6,455 | ||
Building & Improvements | 9,839 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 213 | ||
Total Cost | |||
Land | 6,160 | ||
Building & Improvements | 10,347 | ||
Total | 16,507 | ||
Accumulated Depreciation | (6,063) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 10,444 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 16,507 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 6,063 | ||
Market at Preston Forest [Member] | |||
Initial Cost | |||
Land | 4,400 | ||
Building & Improvements | 11,445 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,881 | ||
Total Cost | |||
Land | 4,400 | ||
Building & Improvements | 13,326 | ||
Total | 17,726 | ||
Accumulated Depreciation | (8,790) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 8,936 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 17,726 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 8,790 | ||
Market at Round Rock [Member] | |||
Initial Cost | |||
Land | 2,000 | ||
Building & Improvements | 9,676 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 6,329 | ||
Total Cost | |||
Land | 1,996 | ||
Building & Improvements | 16,009 | ||
Total | 18,005 | ||
Accumulated Depreciation | (11,672) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 6,333 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 18,005 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 11,672 | ||
Market at Springwoods Village [Member] | |||
Initial Cost | |||
Land | 12,592 | ||
Building & Improvements | 12,781 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 137 | ||
Total Cost | |||
Land | 12,592 | ||
Building & Improvements | 12,918 | ||
Total | 25,510 | ||
Accumulated Depreciation | (4,984) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 20,526 | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (3,750) | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 25,510 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 4,984 | ||
Marketplace at Briargate [Member] | |||
Initial Cost | |||
Land | 1,706 | ||
Building & Improvements | 4,885 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 399 | ||
Total Cost | |||
Land | 1,727 | ||
Building & Improvements | 5,263 | ||
Total | 6,990 | ||
Accumulated Depreciation | (3,573) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 3,417 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 6,990 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 3,573 | ||
McLean Plaza [Member] | |||
Initial Cost | |||
Land | 12,527 | ||
Building & Improvements | 12,039 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 22 | ||
Total Cost | |||
Land | 12,527 | ||
Building & Improvements | 12,061 | ||
Total | 24,588 | ||
Accumulated Depreciation | (149) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 24,439 | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (5,000) | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 24,588 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 149 | ||
Meadtown Shopping Center [Member] | |||
Initial Cost | |||
Land | 9,961 | ||
Building & Improvements | 15,328 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 5 | ||
Total Cost | |||
Land | 9,961 | ||
Building & Improvements | 15,333 | ||
Total | 25,294 | ||
Accumulated Depreciation | (195) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 25,099 | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (9,364) | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 25,294 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 195 | ||
Mellody Farm [Member] | |||
Initial Cost | |||
Land | 35,628 | ||
Building & Improvements | 66,847 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (289) | ||
Total Cost | |||
Land | 35,628 | ||
Building & Improvements | 66,558 | ||
Total | 102,186 | ||
Accumulated Depreciation | (17,637) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 84,549 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 102,186 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 17,637 | ||
Melrose Market [Member] | |||
Initial Cost | |||
Land | 4,451 | ||
Building & Improvements | 10,807 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (370) | ||
Total Cost | |||
Land | 4,451 | ||
Building & Improvements | 10,437 | ||
Total | 14,888 | ||
Accumulated Depreciation | (1,773) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 13,115 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 14,888 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 1,773 | ||
Midland Park Shopping Center [Member] | |||
Initial Cost | |||
Land | 9,814 | ||
Building & Improvements | 24,226 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 104 | ||
Total Cost | |||
Land | 9,814 | ||
Building & Improvements | 24,330 | ||
Total | 34,144 | ||
Accumulated Depreciation | (283) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 33,861 | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (17,722) | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 34,144 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 283 | ||
Millhopper Shopping Center [Member] | |||
Initial Cost | |||
Land | 1,073 | ||
Building & Improvements | 5,358 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 6,043 | ||
Total Cost | |||
Land | 1,901 | ||
Building & Improvements | 10,573 | ||
Total | 12,474 | ||
Accumulated Depreciation | (8,252) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 4,222 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 12,474 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 8,252 | ||
Mockingbird Commons [Member] | |||
Initial Cost | |||
Land | 3,000 | ||
Building & Improvements | 10,728 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 3,365 | ||
Total Cost | |||
Land | 3,000 | ||
Building & Improvements | 14,093 | ||
Total | 17,093 | ||
Accumulated Depreciation | (8,806) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 8,287 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 17,093 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 8,806 | ||
Monument Jackson Creek | |||
Initial Cost | |||
Land | 2,999 | ||
Building & Improvements | 6,765 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,411 | ||
Total Cost | |||
Land | 2,999 | ||
Building & Improvements | 8,176 | ||
Total | 11,175 | ||
Accumulated Depreciation | (6,686) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 4,489 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 11,175 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 6,686 | ||
Morningside Plaza [Member] | |||
Initial Cost | |||
Land | 4,300 | ||
Building & Improvements | 13,951 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,228 | ||
Total Cost | |||
Land | 4,300 | ||
Building & Improvements | 15,179 | ||
Total | 19,479 | ||
Accumulated Depreciation | (9,699) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 9,780 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 19,479 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 9,699 | ||
Murrayhill Marketplace [Member] | |||
Initial Cost | |||
Land | 2,670 | ||
Building & Improvements | 18,401 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 14,569 | ||
Total Cost | |||
Land | 2,903 | ||
Building & Improvements | 32,737 | ||
Total | 35,640 | ||
Accumulated Depreciation | (20,011) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 15,629 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 35,640 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 20,011 | ||
Naples Walk [Member] | |||
Initial Cost | |||
Land | 18,173 | ||
Building & Improvements | 13,554 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 2,322 | ||
Total Cost | |||
Land | 18,173 | ||
Building & Improvements | 15,876 | ||
Total | 34,049 | ||
Accumulated Depreciation | (8,566) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 25,483 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 34,049 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 8,566 | ||
New City PCSB Bank Pad [Member] | |||
Initial Cost | |||
Land | 837 | ||
Building & Improvements | 1,306 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (1) | ||
Total Cost | |||
Land | 837 | ||
Building & Improvements | 1,305 | ||
Total | 2,142 | ||
Accumulated Depreciation | (14) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 2,128 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 2,142 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 14 | ||
New Milford Plaza [Member] | |||
Initial Cost | |||
Land | 7,955 | ||
Building & Improvements | 18,349 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 54 | ||
Total Cost | |||
Land | 7,955 | ||
Building & Improvements | 18,403 | ||
Total | 26,358 | ||
Accumulated Depreciation | (223) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 26,135 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 26,358 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 223 | ||
Newberry Square [Member] | |||
Initial Cost | |||
Land | 2,412 | ||
Building & Improvements | 10,150 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,356 | ||
Total Cost | |||
Land | 2,412 | ||
Building & Improvements | 11,506 | ||
Total | 13,918 | ||
Accumulated Depreciation | (10,204) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 3,714 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 13,918 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 10,204 | ||
Newfield Green [Member] | |||
Initial Cost | |||
Land | 22,993 | ||
Building & Improvements | 7,778 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 9 | ||
Total Cost | |||
Land | 22,993 | ||
Building & Improvements | 7,787 | ||
Total | 30,780 | ||
Accumulated Depreciation | (158) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 30,622 | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (19,278) | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 30,780 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 158 | ||
Newland Center [Member] | |||
Initial Cost | |||
Land | 12,500 | ||
Building & Improvements | 10,697 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 8,913 | ||
Total Cost | |||
Land | 16,276 | ||
Building & Improvements | 15,834 | ||
Total | 32,110 | ||
Accumulated Depreciation | (11,960) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 20,150 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 32,110 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 11,960 | ||
Nocatee Town Center [Member] | |||
Initial Cost | |||
Land | 10,124 | ||
Building & Improvements | 8,691 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 8,962 | ||
Total Cost | |||
Land | 11,045 | ||
Building & Improvements | 16,732 | ||
Total | 27,777 | ||
Accumulated Depreciation | (10,815) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 16,962 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 27,777 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 10,815 | ||
Nohl Plaza [Member] | |||
Initial Cost | |||
Land | 1,688 | ||
Building & Improvements | 6,733 | ||
Total Cost | |||
Land | 1,688 | ||
Building & Improvements | 6,733 | ||
Total | 8,421 | ||
Accumulated Depreciation | (91) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 8,330 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 8,421 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 91 | ||
North Hills [Member] | |||
Initial Cost | |||
Land | 4,900 | ||
Building & Improvements | 19,774 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 4,471 | ||
Total Cost | |||
Land | 4,900 | ||
Building & Improvements | 24,245 | ||
Total | 29,145 | ||
Accumulated Depreciation | (14,662) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 14,483 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 29,145 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 14,662 | ||
Northgate Marketplace [Member] | |||
Initial Cost | |||
Land | 5,668 | ||
Building & Improvements | 13,727 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 38 | ||
Total Cost | |||
Land | 4,995 | ||
Building & Improvements | 14,438 | ||
Total | 19,433 | ||
Accumulated Depreciation | (8,210) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 11,223 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 19,433 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 8,210 | ||
Northgate Marketplace Ph II [Member] | |||
Initial Cost | |||
Land | 12,189 | ||
Building & Improvements | 30,171 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 126 | ||
Total Cost | |||
Land | 12,189 | ||
Building & Improvements | 30,297 | ||
Total | 42,486 | ||
Accumulated Depreciation | (10,600) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 31,886 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 42,486 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 10,600 | ||
Northgate Plaza Maxtown Road [Member] | |||
Initial Cost | |||
Land | 1,769 | ||
Building & Improvements | 6,652 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 4,983 | ||
Total Cost | |||
Land | 2,840 | ||
Building & Improvements | 10,564 | ||
Total | 13,404 | ||
Accumulated Depreciation | (7,232) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 6,172 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 13,404 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 7,232 | ||
Northgate Square [Member] | |||
Initial Cost | |||
Land | 5,011 | ||
Building & Improvements | 8,692 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,196 | ||
Total Cost | |||
Land | 5,011 | ||
Building & Improvements | 9,888 | ||
Total | 14,899 | ||
Accumulated Depreciation | (5,557) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 9,342 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 14,899 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 5,557 | ||
Northlake Village [Member] | |||
Initial Cost | |||
Land | 2,662 | ||
Building & Improvements | 11,284 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 5,876 | ||
Total Cost | |||
Land | 2,662 | ||
Building & Improvements | 17,160 | ||
Total | 19,822 | ||
Accumulated Depreciation | (7,745) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 12,077 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 19,822 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 7,745 | ||
Oak Shade Town Center [Member] | |||
Initial Cost | |||
Land | 6,591 | ||
Building & Improvements | 28,966 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 498 | ||
Total Cost | |||
Land | 6,591 | ||
Building & Improvements | 29,464 | ||
Total | 36,055 | ||
Accumulated Depreciation | (12,717) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 23,338 | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (4,085) | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 36,055 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 12,717 | ||
Oakbrook Plaza [Member] | |||
Initial Cost | |||
Land | 4,000 | ||
Building & Improvements | 6,668 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 6,295 | ||
Total Cost | |||
Land | 4,766 | ||
Building & Improvements | 12,197 | ||
Total | 16,963 | ||
Accumulated Depreciation | (7,003) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 9,960 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 16,963 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 7,003 | ||
Oakleaf Commons [Member] | |||
Initial Cost | |||
Land | 3,503 | ||
Building & Improvements | 11,671 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 2,052 | ||
Total Cost | |||
Land | 3,190 | ||
Building & Improvements | 14,036 | ||
Total | 17,226 | ||
Accumulated Depreciation | (9,223) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 8,003 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 17,226 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 9,223 | ||
Ocala Corners [Member] | |||
Initial Cost | |||
Land | 1,816 | ||
Building & Improvements | 10,515 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 650 | ||
Total Cost | |||
Land | 1,816 | ||
Building & Improvements | 11,165 | ||
Total | 12,981 | ||
Accumulated Depreciation | (6,152) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 6,829 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 12,981 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 6,152 | ||
Old Greenwich CVS [Member] | |||
Initial Cost | |||
Land | 3,704 | ||
Building & Improvements | 2,065 | ||
Total Cost | |||
Land | 3,704 | ||
Building & Improvements | 2,065 | ||
Total | 5,769 | ||
Accumulated Depreciation | (31) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 5,738 | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (891) | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 5,769 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 31 | ||
Old St Augustine Plaza [Member] | |||
Initial Cost | |||
Land | 2,368 | ||
Building & Improvements | 11,405 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 13,514 | ||
Total Cost | |||
Land | 3,455 | ||
Building & Improvements | 23,832 | ||
Total | 27,287 | ||
Accumulated Depreciation | (13,127) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 14,160 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 27,287 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 13,127 | ||
Orange Meadows [Member] | |||
Initial Cost | |||
Land | 4,984 | ||
Building & Improvements | 16,731 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 569 | ||
Total Cost | |||
Land | 4,984 | ||
Building & Improvements | 17,300 | ||
Total | 22,284 | ||
Accumulated Depreciation | (281) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 22,003 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 22,284 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 281 | ||
Orangetown Shopping Center [Member] | |||
Initial Cost | |||
Land | 4,716 | ||
Building & Improvements | 15,472 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 106 | ||
Total Cost | |||
Land | 4,718 | ||
Building & Improvements | 15,576 | ||
Total | 20,294 | ||
Accumulated Depreciation | (189) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 20,105 | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (6,005) | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 20,294 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 189 | ||
Pablo Plaza [Member] | |||
Initial Cost | |||
Land | 11,894 | ||
Building & Improvements | 21,407 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 11,241 | ||
Total Cost | |||
Land | 14,135 | ||
Building & Improvements | 30,407 | ||
Total | 44,542 | ||
Accumulated Depreciation | (9,583) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 34,959 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 44,542 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 9,583 | ||
Paces Ferry Plaza [Member] | |||
Initial Cost | |||
Land | 2,812 | ||
Building & Improvements | 12,639 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 21,232 | ||
Total Cost | |||
Land | 13,803 | ||
Building & Improvements | 22,880 | ||
Total | 36,683 | ||
Accumulated Depreciation | (14,913) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 21,770 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 36,683 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 14,913 | ||
Panther Creek [Member] | |||
Initial Cost | |||
Land | 14,414 | ||
Building & Improvements | 14,748 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 6,165 | ||
Total Cost | |||
Land | 15,212 | ||
Building & Improvements | 20,115 | ||
Total | 35,327 | ||
Accumulated Depreciation | (16,359) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 18,968 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 35,327 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 16,359 | ||
Pavillion [Member] | |||
Initial Cost | |||
Land | 15,626 | ||
Building & Improvements | 22,124 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,517 | ||
Total Cost | |||
Land | 15,626 | ||
Building & Improvements | 23,641 | ||
Total | 39,267 | ||
Accumulated Depreciation | (6,996) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 32,271 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 39,267 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 6,996 | ||
Peartree Village [Member] | |||
Initial Cost | |||
Land | 5,197 | ||
Building & Improvements | 19,746 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 936 | ||
Total Cost | |||
Land | 5,197 | ||
Building & Improvements | 20,682 | ||
Total | 25,879 | ||
Accumulated Depreciation | (15,171) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 10,708 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 25,879 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 15,171 | ||
Pelham Manor Plaza [Member] | |||
Initial Cost | |||
Land | 4,708 | ||
Building & Improvements | 6,243 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 19 | ||
Total Cost | |||
Land | 4,710 | ||
Building & Improvements | 6,260 | ||
Total | 10,970 | ||
Accumulated Depreciation | (65) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 10,905 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 10,970 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 65 | ||
Persimmon Place [Member] | |||
Initial Cost | |||
Land | 25,975 | ||
Building & Improvements | 38,114 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 691 | ||
Total Cost | |||
Land | 26,692 | ||
Building & Improvements | 38,088 | ||
Total | 64,780 | ||
Accumulated Depreciation | (17,940) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 46,840 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 64,780 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 17,940 | ||
Pike Creek [Member] | |||
Initial Cost | |||
Land | 5,153 | ||
Building & Improvements | 20,652 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 9,595 | ||
Total Cost | |||
Land | 5,873 | ||
Building & Improvements | 29,527 | ||
Total | 35,400 | ||
Accumulated Depreciation | (16,394) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 19,006 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 35,400 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 16,394 | ||
Pine Island [Member] | |||
Initial Cost | |||
Land | 21,086 | ||
Building & Improvements | 28,123 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 3,780 | ||
Total Cost | |||
Land | 21,086 | ||
Building & Improvements | 31,903 | ||
Total | 52,989 | ||
Accumulated Depreciation | (10,192) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 42,797 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 52,989 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 10,192 | ||
Pine Lake Village [Member] | |||
Initial Cost | |||
Land | 6,300 | ||
Building & Improvements | 10,991 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,905 | ||
Total Cost | |||
Land | 6,300 | ||
Building & Improvements | 12,896 | ||
Total | 19,196 | ||
Accumulated Depreciation | (8,395) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 10,801 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 19,196 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 8,395 | ||
Pine Ridge Square [Member] | |||
Initial Cost | |||
Land | 13,951 | ||
Building & Improvements | 23,147 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 565 | ||
Total Cost | |||
Land | 13,951 | ||
Building & Improvements | 23,712 | ||
Total | 37,663 | ||
Accumulated Depreciation | (5,819) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 31,844 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 37,663 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 5,819 | ||
Pine Tree Plaza [Member] | |||
Initial Cost | |||
Land | 668 | ||
Building & Improvements | 6,220 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,038 | ||
Total Cost | |||
Land | 668 | ||
Building & Improvements | 7,258 | ||
Total | 7,926 | ||
Accumulated Depreciation | (4,649) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 3,277 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 7,926 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 4,649 | ||
Pinecrest Place [Member] | |||
Initial Cost | |||
Land | 4,193 | ||
Building & Improvements | 13,275 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (165) | ||
Total Cost | |||
Land | 3,992 | ||
Building & Improvements | 13,311 | ||
Total | 17,303 | ||
Accumulated Depreciation | (3,560) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 13,743 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 17,303 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 3,560 | ||
Plaza Escuela [Member] | |||
Initial Cost | |||
Land | 24,829 | ||
Building & Improvements | 104,395 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 4,047 | ||
Total Cost | |||
Land | 24,829 | ||
Building & Improvements | 108,442 | ||
Total | 133,271 | ||
Accumulated Depreciation | (20,348) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 112,923 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 133,271 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 20,348 | ||
Plaza Hermosa [Member] | |||
Initial Cost | |||
Land | 4,200 | ||
Building & Improvements | 10,109 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 3,881 | ||
Total Cost | |||
Land | 4,202 | ||
Building & Improvements | 13,988 | ||
Total | 18,190 | ||
Accumulated Depreciation | (9,062) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 9,128 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 18,190 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 9,062 | ||
Point 50 [Member] | |||
Initial Cost | |||
Land | 15,239 | ||
Building & Improvements | 11,367 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 69 | ||
Total Cost | |||
Land | 14,628 | ||
Building & Improvements | 12,047 | ||
Total | 26,675 | ||
Accumulated Depreciation | (2,273) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 24,402 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 26,675 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 2,273 | ||
Point Royale Shopping Center [Member] | |||
Initial Cost | |||
Land | 18,201 | ||
Building & Improvements | 14,889 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 6,748 | ||
Total Cost | |||
Land | 19,386 | ||
Building & Improvements | 20,452 | ||
Total | 39,838 | ||
Accumulated Depreciation | (7,643) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 32,195 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 39,838 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 7,643 | ||
Pompton Lakes Towne Square [Member] | |||
Initial Cost | |||
Land | 12,940 | ||
Building & Improvements | 16,392 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 136 | ||
Total Cost | |||
Land | 12,940 | ||
Building & Improvements | 16,528 | ||
Total | 29,468 | ||
Accumulated Depreciation | (194) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 29,274 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 29,468 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 194 | ||
Post Road Plaza [Member] | |||
Initial Cost | |||
Land | 15,240 | ||
Building & Improvements | 5,196 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 176 | ||
Total Cost | |||
Land | 15,240 | ||
Building & Improvements | 5,372 | ||
Total | 20,612 | ||
Accumulated Depreciation | (1,412) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 19,200 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 20,612 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 1,412 | ||
Potrero Center [Member] | |||
Initial Cost | |||
Land | 133,422 | ||
Building & Improvements | 116,758 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (88,645) | ||
Total Cost | |||
Land | 85,205 | ||
Building & Improvements | 76,330 | ||
Total | 161,535 | ||
Accumulated Depreciation | (15,070) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 146,465 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 161,535 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 15,070 | ||
Powell Street Plaza [Member] | |||
Initial Cost | |||
Land | 8,248 | ||
Building & Improvements | 30,716 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 4,172 | ||
Total Cost | |||
Land | 8,248 | ||
Building & Improvements | 34,888 | ||
Total | 43,136 | ||
Accumulated Depreciation | (20,033) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 23,103 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 43,136 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 20,033 | ||
Powers Ferry Square [Member] | |||
Initial Cost | |||
Land | 3,687 | ||
Building & Improvements | 17,965 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 10,088 | ||
Total Cost | |||
Land | 5,758 | ||
Building & Improvements | 25,982 | ||
Total | 31,740 | ||
Accumulated Depreciation | (22,479) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 9,261 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 31,740 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 22,479 | ||
Powers Ferry Village [Member] | |||
Initial Cost | |||
Land | 1,191 | ||
Building & Improvements | 4,672 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 663 | ||
Total Cost | |||
Land | 1,191 | ||
Building & Improvements | 5,335 | ||
Total | 6,526 | ||
Accumulated Depreciation | (4,415) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 2,111 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 6,526 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 4,415 | ||
Prairie City Crossing [Member] | |||
Initial Cost | |||
Land | 4,164 | ||
Building & Improvements | 13,032 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 623 | ||
Total Cost | |||
Land | 4,164 | ||
Building & Improvements | 13,655 | ||
Total | 17,819 | ||
Accumulated Depreciation | (7,785) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 10,034 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 17,819 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 7,785 | ||
Preston Oaks [Member] | |||
Initial Cost | |||
Land | 763 | ||
Building & Improvements | 30,438 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 513 | ||
Total Cost | |||
Land | 1,534 | ||
Building & Improvements | 30,180 | ||
Total | 31,714 | ||
Accumulated Depreciation | (5,281) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 26,433 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 31,714 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 5,281 | ||
Prestonbrook [Member] | |||
Initial Cost | |||
Land | 7,069 | ||
Building & Improvements | 8,622 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (593) | ||
Total Cost | |||
Land | 5,244 | ||
Building & Improvements | 9,854 | ||
Total | 15,098 | ||
Accumulated Depreciation | (8,167) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 6,931 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 15,098 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 8,167 | ||
Prosperity Centre [Member] | |||
Initial Cost | |||
Land | 11,682 | ||
Building & Improvements | 26,215 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 750 | ||
Total Cost | |||
Land | 11,681 | ||
Building & Improvements | 26,966 | ||
Total | 38,647 | ||
Accumulated Depreciation | (6,214) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 32,433 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 38,647 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 6,214 | ||
Purchase Street Shops [Member] | |||
Initial Cost | |||
Land | 466 | ||
Building & Improvements | 1,388 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1 | ||
Total Cost | |||
Land | 466 | ||
Building & Improvements | 1,389 | ||
Total | 1,855 | ||
Accumulated Depreciation | (22) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 1,833 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 1,855 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 22 | ||
Ralphs Circle Center [Member] | |||
Initial Cost | |||
Land | 20,939 | ||
Building & Improvements | 6,317 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 162 | ||
Total Cost | |||
Land | 20,939 | ||
Building & Improvements | 6,479 | ||
Total | 27,418 | ||
Accumulated Depreciation | (2,080) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 25,338 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 27,418 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 2,080 | ||
Red Bank Village [Member] | |||
Initial Cost | |||
Land | 10,336 | ||
Building & Improvements | 9,500 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,267 | ||
Total Cost | |||
Land | 9,755 | ||
Building & Improvements | 11,348 | ||
Total | 21,103 | ||
Accumulated Depreciation | (4,948) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 16,155 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 21,103 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 4,948 | ||
Regency Commons [Member] | |||
Initial Cost | |||
Land | 3,917 | ||
Building & Improvements | 3,616 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 371 | ||
Total Cost | |||
Land | 3,917 | ||
Building & Improvements | 3,987 | ||
Total | 7,904 | ||
Accumulated Depreciation | (3,073) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 4,831 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 7,904 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 3,073 | ||
Regency Square [Member] | |||
Initial Cost | |||
Land | 4,770 | ||
Building & Improvements | 25,191 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 7,003 | ||
Total Cost | |||
Land | 5,060 | ||
Building & Improvements | 31,904 | ||
Total | 36,964 | ||
Accumulated Depreciation | (27,508) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 9,456 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 36,964 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 27,508 | ||
Ridgeway Shopping Center [Member] | |||
Initial Cost | |||
Land | 47,684 | ||
Building & Improvements | 96,414 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 204 | ||
Total Cost | |||
Land | 47,684 | ||
Building & Improvements | 96,618 | ||
Total | 144,302 | ||
Accumulated Depreciation | (969) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 143,333 | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (43,150) | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 144,302 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 969 | ||
Rite Aid Plaza-Waldwick Plaza [Member] | |||
Initial Cost | |||
Land | 1,774 | ||
Building & Improvements | 5,753 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 10 | ||
Total Cost | |||
Land | 1,774 | ||
Building & Improvements | 5,763 | ||
Total | 7,537 | ||
Accumulated Depreciation | (58) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 7,479 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 7,537 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 58 | ||
Rivertowns Square [Member] | |||
Initial Cost | |||
Land | 15,505 | ||
Building & Improvements | 52,505 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 5,381 | ||
Total Cost | |||
Land | 16,853 | ||
Building & Improvements | 56,538 | ||
Total | 73,391 | ||
Accumulated Depreciation | (10,252) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 63,139 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 73,391 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 10,252 | ||
Rona Plaza [Member] | |||
Initial Cost | |||
Land | 1,500 | ||
Building & Improvements | 4,917 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 397 | ||
Total Cost | |||
Land | 1,500 | ||
Building & Improvements | 5,314 | ||
Total | 6,814 | ||
Accumulated Depreciation | (3,632) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 3,182 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 6,814 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 3,632 | ||
Roosevelt Square [Member] | |||
Initial Cost | |||
Land | 40,371 | ||
Building & Improvements | 32,108 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 7,587 | ||
Total Cost | |||
Land | 40,382 | ||
Building & Improvements | 39,684 | ||
Total | 80,066 | ||
Accumulated Depreciation | (7,150) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 72,916 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 80,066 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 7,150 | ||
Russell Ridge [Member] | |||
Initial Cost | |||
Land | 2,234 | ||
Building & Improvements | 6,903 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,684 | ||
Total Cost | |||
Land | 2,234 | ||
Building & Improvements | 8,587 | ||
Total | 10,821 | ||
Accumulated Depreciation | (6,294) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 4,527 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 10,821 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 6,294 | ||
Ryanwood Square [Member] | |||
Initial Cost | |||
Land | 10,581 | ||
Building & Improvements | 10,044 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 361 | ||
Total Cost | |||
Land | 10,581 | ||
Building & Improvements | 10,405 | ||
Total | 20,986 | ||
Accumulated Depreciation | (3,525) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 17,461 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 20,986 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 3,525 | ||
Sammamish-Highlands [Member] | |||
Initial Cost | |||
Land | 9,300 | ||
Building & Improvements | 8,075 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 8,945 | ||
Total Cost | |||
Land | 9,592 | ||
Building & Improvements | 16,728 | ||
Total | 26,320 | ||
Accumulated Depreciation | (12,078) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 14,242 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 26,320 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 12,078 | ||
San Carlos Marketplace [Member] | |||
Initial Cost | |||
Land | 36,006 | ||
Building & Improvements | 57,886 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 402 | ||
Total Cost | |||
Land | 36,006 | ||
Building & Improvements | 58,288 | ||
Total | 94,294 | ||
Accumulated Depreciation | (11,710) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 82,584 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 94,294 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 11,710 | ||
San Leandro Plaza [Member] | |||
Initial Cost | |||
Land | 1,300 | ||
Building & Improvements | 8,226 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,537 | ||
Total Cost | |||
Land | 1,300 | ||
Building & Improvements | 9,763 | ||
Total | 11,063 | ||
Accumulated Depreciation | (5,971) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 5,092 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 11,063 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 5,971 | ||
Sandy Springs [Member] | |||
Initial Cost | |||
Land | 6,889 | ||
Building & Improvements | 28,056 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 4,754 | ||
Total Cost | |||
Land | 6,889 | ||
Building & Improvements | 32,810 | ||
Total | 39,699 | ||
Accumulated Depreciation | (12,255) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 27,444 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 39,699 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 12,255 | ||
Sawgrass Promenade [Member] | |||
Initial Cost | |||
Land | 10,846 | ||
Building & Improvements | 12,525 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,105 | ||
Total Cost | |||
Land | 10,846 | ||
Building & Improvements | 13,630 | ||
Total | 24,476 | ||
Accumulated Depreciation | (3,906) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 20,570 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 24,476 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 3,906 | ||
Scripps Ranch Marketplace [Member] | |||
Initial Cost | |||
Land | 59,949 | ||
Building & Improvements | 26,334 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,045 | ||
Total Cost | |||
Land | 59,949 | ||
Building & Improvements | 27,379 | ||
Total | 87,328 | ||
Accumulated Depreciation | (5,986) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 81,342 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 87,328 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 5,986 | ||
Serramonte Center [Member] | |||
Initial Cost | |||
Land | 390,106 | ||
Building & Improvements | 172,652 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 95,691 | ||
Total Cost | |||
Land | 416,509 | ||
Building & Improvements | 241,940 | ||
Total | 658,449 | ||
Accumulated Depreciation | (77,112) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 581,337 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 658,449 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 77,112 | ||
Shaw's at Plymouth [Member] | |||
Initial Cost | |||
Land | 3,968 | ||
Building & Improvements | 8,367 | ||
Total Cost | |||
Land | 3,968 | ||
Building & Improvements | 8,367 | ||
Total | 12,335 | ||
Accumulated Depreciation | (2,481) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 9,854 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 12,335 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 2,481 | ||
Shelton Square [Member] | |||
Initial Cost | |||
Land | 13,383 | ||
Building & Improvements | 25,265 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 2,844 | ||
Total Cost | |||
Land | 13,383 | ||
Building & Improvements | 28,109 | ||
Total | 41,492 | ||
Accumulated Depreciation | (362) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 41,130 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 41,492 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 362 | ||
Sheridan Plaza [Member] | |||
Initial Cost | |||
Land | 82,260 | ||
Building & Improvements | 97,273 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 15,832 | ||
Total Cost | |||
Land | 83,814 | ||
Building & Improvements | 111,551 | ||
Total | 195,365 | ||
Accumulated Depreciation | (25,907) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 169,458 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 195,365 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 25,907 | ||
Sherwood Crossroads [Member] | |||
Initial Cost | |||
Land | 2,731 | ||
Building & Improvements | 6,360 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 920 | ||
Total Cost | |||
Land | 2,454 | ||
Building & Improvements | 7,557 | ||
Total | 10,011 | ||
Accumulated Depreciation | (4,394) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 5,617 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 10,011 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 4,394 | ||
Shiloh Springs [Member] | |||
Initial Cost | |||
Land | 5,236 | ||
Building & Improvements | 11,802 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 625 | ||
Total Cost | |||
Land | 5,236 | ||
Building & Improvements | 12,427 | ||
Total | 17,663 | ||
Accumulated Depreciation | (1,394) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 16,269 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 17,663 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 1,394 | ||
Shoppes @ 104 [Member] | |||
Initial Cost | |||
Land | 11,193 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 3,002 | ||
Total Cost | |||
Land | 7,078 | ||
Building & Improvements | 7,117 | ||
Total | 14,195 | ||
Accumulated Depreciation | (4,159) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 10,036 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 14,195 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 4,159 | ||
Shoppes at Homestead [Member] | |||
Initial Cost | |||
Land | 5,420 | ||
Building & Improvements | 9,450 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 2,490 | ||
Total Cost | |||
Land | 5,420 | ||
Building & Improvements | 11,940 | ||
Total | 17,360 | ||
Accumulated Depreciation | (7,824) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 9,536 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 17,360 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 7,824 | ||
Shoppes at Lago Mar [Member] | |||
Initial Cost | |||
Land | 8,323 | ||
Building & Improvements | 11,347 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 287 | ||
Total Cost | |||
Land | 8,323 | ||
Building & Improvements | 11,634 | ||
Total | 19,957 | ||
Accumulated Depreciation | (3,457) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 16,500 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 19,957 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 3,457 | ||
Shoppes at Sunlake Centre [Member] | |||
Initial Cost | |||
Land | 16,643 | ||
Building & Improvements | 15,091 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 6,360 | ||
Total Cost | |||
Land | 18,001 | ||
Building & Improvements | 20,093 | ||
Total | 38,094 | ||
Accumulated Depreciation | (5,764) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 32,330 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 38,094 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 5,764 | ||
Shoppes of Grande Oak [Member] | |||
Initial Cost | |||
Land | 5,091 | ||
Building & Improvements | 5,985 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 953 | ||
Total Cost | |||
Land | 5,091 | ||
Building & Improvements | 6,938 | ||
Total | 12,029 | ||
Accumulated Depreciation | (6,045) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 5,984 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 12,029 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 6,045 | ||
Shoppes of Jonathan's Landing [Member] | |||
Initial Cost | |||
Land | 4,474 | ||
Building & Improvements | 5,628 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 514 | ||
Total Cost | |||
Land | 4,474 | ||
Building & Improvements | 6,142 | ||
Total | 10,616 | ||
Accumulated Depreciation | (1,634) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 8,982 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 10,616 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 1,634 | ||
Shoppes of Oakbrook [Member] | |||
Initial Cost | |||
Land | 20,538 | ||
Building & Improvements | 42,992 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 402 | ||
Total Cost | |||
Land | 20,538 | ||
Building & Improvements | 43,394 | ||
Total | 63,932 | ||
Accumulated Depreciation | (13,126) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 50,806 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 63,932 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 13,126 | ||
Shoppes of Silver Lakes [Member] | |||
Initial Cost | |||
Land | 17,529 | ||
Building & Improvements | 21,829 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,933 | ||
Total Cost | |||
Land | 17,529 | ||
Building & Improvements | 23,762 | ||
Total | 41,291 | ||
Accumulated Depreciation | (6,674) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 34,617 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 41,291 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 6,674 | ||
Shoppes of Sunset [Member] | |||
Initial Cost | |||
Land | 2,860 | ||
Building & Improvements | 1,316 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 680 | ||
Total Cost | |||
Land | 2,860 | ||
Building & Improvements | 1,996 | ||
Total | 4,856 | ||
Accumulated Depreciation | (482) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 4,374 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 4,856 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 482 | ||
Shoppes of Sunset II [Member] | |||
Initial Cost | |||
Land | 2,834 | ||
Building & Improvements | 715 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 623 | ||
Total Cost | |||
Land | 2,834 | ||
Building & Improvements | 1,338 | ||
Total | 4,172 | ||
Accumulated Depreciation | (363) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 3,809 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 4,172 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 363 | ||
Shops at County Center [Member] | |||
Initial Cost | |||
Land | 9,957 | ||
Building & Improvements | 11,296 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 2,197 | ||
Total Cost | |||
Land | 9,973 | ||
Building & Improvements | 13,477 | ||
Total | 23,450 | ||
Accumulated Depreciation | (12,136) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 11,314 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 23,450 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 12,136 | ||
Shops at Erwin Mill [Member] | |||
Initial Cost | |||
Land | 9,082 | ||
Building & Improvements | 6,124 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 575 | ||
Total Cost | |||
Land | 9,087 | ||
Building & Improvements | 6,694 | ||
Total | 15,781 | ||
Accumulated Depreciation | (4,316) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 11,465 | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (10,000) | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 15,781 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 4,316 | ||
Shops at John's Creek [Member] | |||
Initial Cost | |||
Land | 1,863 | ||
Building & Improvements | 2,014 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (63) | ||
Total Cost | |||
Land | 1,501 | ||
Building & Improvements | 2,313 | ||
Total | 3,814 | ||
Accumulated Depreciation | (1,701) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 2,113 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 3,814 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 1,701 | ||
Shops at Mira Vista [Member] | |||
Initial Cost | |||
Land | 11,691 | ||
Building & Improvements | 9,026 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 739 | ||
Total Cost | |||
Land | 11,691 | ||
Building & Improvements | 9,765 | ||
Total | 21,456 | ||
Accumulated Depreciation | (3,555) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 17,901 | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (165) | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 21,456 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 3,555 | ||
Shops at Quail Creek [Member] | |||
Initial Cost | |||
Land | 1,487 | ||
Building & Improvements | 7,717 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,146 | ||
Total Cost | |||
Land | 1,448 | ||
Building & Improvements | 8,902 | ||
Total | 10,350 | ||
Accumulated Depreciation | (4,938) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 5,412 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 10,350 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 4,938 | ||
Shops at Saugus [Member] | |||
Initial Cost | |||
Land | 19,201 | ||
Building & Improvements | 17,984 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 555 | ||
Total Cost | |||
Land | 18,811 | ||
Building & Improvements | 18,929 | ||
Total | 37,740 | ||
Accumulated Depreciation | (13,955) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 23,785 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 37,740 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 13,955 | ||
Shops at Skylake [Member] | |||
Initial Cost | |||
Land | 84,586 | ||
Building & Improvements | 39,342 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 2,382 | ||
Total Cost | |||
Land | 85,117 | ||
Building & Improvements | 41,193 | ||
Total | 126,310 | ||
Accumulated Depreciation | (12,523) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 113,787 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 126,310 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 12,523 | ||
Shops at The Columbia [Member] | |||
Initial Cost | |||
Land | 3,117 | ||
Building & Improvements | 8,869 | ||
Total Cost | |||
Land | 3,117 | ||
Building & Improvements | 8,869 | ||
Total | 11,986 | ||
Accumulated Depreciation | (627) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 11,359 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 11,986 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 627 | ||
Shops on Main [Member] | |||
Initial Cost | |||
Land | 17,020 | ||
Building & Improvements | 27,055 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 16,431 | ||
Total Cost | |||
Land | 18,534 | ||
Building & Improvements | 41,972 | ||
Total | 60,506 | ||
Accumulated Depreciation | (18,076) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 42,430 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 60,506 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 18,076 | ||
Somers Commons [Member] | |||
Initial Cost | |||
Land | 7,019 | ||
Building & Improvements | 29,808 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 2,366 | ||
Total Cost | |||
Land | 7,019 | ||
Building & Improvements | 32,174 | ||
Total | 39,193 | ||
Accumulated Depreciation | (343) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 38,850 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 39,193 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 343 | ||
Sope Creek Crossing [Member] | |||
Initial Cost | |||
Land | 2,985 | ||
Building & Improvements | 12,001 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 3,482 | ||
Total Cost | |||
Land | 3,332 | ||
Building & Improvements | 15,136 | ||
Total | 18,468 | ||
Accumulated Depreciation | (10,741) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 7,727 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 18,468 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 10,741 | ||
South Beach Regional [Member] | |||
Initial Cost | |||
Land | 28,188 | ||
Building & Improvements | 53,405 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,383 | ||
Total Cost | |||
Land | 28,188 | ||
Building & Improvements | 54,788 | ||
Total | 82,976 | ||
Accumulated Depreciation | (13,782) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 69,194 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 82,976 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 13,782 | ||
South Pass Village [Member] | |||
Initial Cost | |||
Land | 11,079 | ||
Building & Improvements | 31,610 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 56 | ||
Total Cost | |||
Land | 11,079 | ||
Building & Improvements | 31,666 | ||
Total | 42,745 | ||
Accumulated Depreciation | (361) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 42,384 | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (20,144) | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 42,745 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 361 | ||
South Point [Member] | |||
Initial Cost | |||
Land | 6,563 | ||
Building & Improvements | 7,939 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 586 | ||
Total Cost | |||
Land | 6,563 | ||
Building & Improvements | 8,525 | ||
Total | 15,088 | ||
Accumulated Depreciation | (2,430) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 12,658 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 15,088 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 2,430 | ||
Southbury Green [Member] | |||
Initial Cost | |||
Land | 26,661 | ||
Building & Improvements | 34,325 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 7,247 | ||
Total Cost | |||
Land | 29,743 | ||
Building & Improvements | 38,490 | ||
Total | 68,233 | ||
Accumulated Depreciation | (9,918) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 58,315 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 68,233 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 9,918 | ||
Southcenter [Member] | |||
Initial Cost | |||
Land | 1,300 | ||
Building & Improvements | 12,750 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 2,350 | ||
Total Cost | |||
Land | 1,300 | ||
Building & Improvements | 15,100 | ||
Total | 16,400 | ||
Accumulated Depreciation | (9,929) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 6,471 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 16,400 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 9,929 | ||
Southpark at Cinco Ranch [Member] | |||
Initial Cost | |||
Land | 18,395 | ||
Building & Improvements | 11,306 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 7,531 | ||
Total Cost | |||
Land | 21,438 | ||
Building & Improvements | 15,794 | ||
Total | 37,232 | ||
Accumulated Depreciation | (9,989) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 27,243 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 37,232 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 9,989 | ||
SouthPoint Crossing [Member] | |||
Initial Cost | |||
Land | 4,412 | ||
Building & Improvements | 12,235 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,556 | ||
Total Cost | |||
Land | 4,382 | ||
Building & Improvements | 13,821 | ||
Total | 18,203 | ||
Accumulated Depreciation | (8,865) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 9,338 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 18,203 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 8,865 | ||
Staples Plaza-Yorktown Heights [Member] | |||
Initial Cost | |||
Land | 7,131 | ||
Building & Improvements | 47,704 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 268 | ||
Total Cost | |||
Land | 7,131 | ||
Building & Improvements | 47,972 | ||
Total | 55,103 | ||
Accumulated Depreciation | (465) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 54,638 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 55,103 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 465 | ||
Starke [Member] | |||
Initial Cost | |||
Land | 71 | ||
Building & Improvements | 1,683 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 13 | ||
Total Cost | |||
Land | 71 | ||
Building & Improvements | 1,696 | ||
Total | 1,767 | ||
Accumulated Depreciation | (986) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 781 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 1,767 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 986 | ||
Star's at Cambridge [Member] | |||
Initial Cost | |||
Land | 31,082 | ||
Building & Improvements | 13,520 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (1) | ||
Total Cost | |||
Land | 31,082 | ||
Building & Improvements | 13,519 | ||
Total | 44,601 | ||
Accumulated Depreciation | (3,426) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 41,175 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 44,601 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 3,426 | ||
Star's at Quincy [Member] | |||
Initial Cost | |||
Land | 27,003 | ||
Building & Improvements | 9,425 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1 | ||
Total Cost | |||
Land | 27,003 | ||
Building & Improvements | 9,426 | ||
Total | 36,429 | ||
Accumulated Depreciation | (2,887) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 33,542 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 36,429 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 2,887 | ||
Star's at West Roxbury [Member] | |||
Initial Cost | |||
Land | 21,973 | ||
Building & Improvements | 13,386 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 282 | ||
Total Cost | |||
Land | 21,973 | ||
Building & Improvements | 13,668 | ||
Total | 35,641 | ||
Accumulated Depreciation | (3,390) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 32,251 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 35,641 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 3,390 | ||
Station Centre @ Old Greenwich [Member] | |||
Initial Cost | |||
Land | 9,121 | ||
Building & Improvements | 7,603 | ||
Total Cost | |||
Land | 9,121 | ||
Building & Improvements | 7,603 | ||
Total | 16,724 | ||
Accumulated Depreciation | (110) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 16,614 | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (6,770) | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 16,724 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 110 | ||
Sterling Ridge [Member] | |||
Initial Cost | |||
Land | 12,846 | ||
Building & Improvements | 12,162 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,660 | ||
Total Cost | |||
Land | 12,846 | ||
Building & Improvements | 13,822 | ||
Total | 26,668 | ||
Accumulated Depreciation | (11,447) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 15,221 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 26,668 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 11,447 | ||
Stroh Ranch [Member] | |||
Initial Cost | |||
Land | 4,280 | ||
Building & Improvements | 8,189 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,192 | ||
Total Cost | |||
Land | 4,280 | ||
Building & Improvements | 9,381 | ||
Total | 13,661 | ||
Accumulated Depreciation | (7,573) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 6,088 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 13,661 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 7,573 | ||
Suncoast Crossing [Member] | |||
Initial Cost | |||
Land | 9,030 | ||
Building & Improvements | 10,764 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 4,602 | ||
Total Cost | |||
Land | 13,374 | ||
Building & Improvements | 11,022 | ||
Total | 24,396 | ||
Accumulated Depreciation | (9,744) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 14,652 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 24,396 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 9,744 | ||
Sunny Valley Shops [Member] | |||
Initial Cost | |||
Land | 2,820 | ||
Building & Improvements | 5,055 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 31 | ||
Total Cost | |||
Land | 2,820 | ||
Building & Improvements | 5,086 | ||
Total | 7,906 | ||
Accumulated Depreciation | (71) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 7,835 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 7,906 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 71 | ||
Talega Village Center [Member] | |||
Initial Cost | |||
Land | 22,415 | ||
Building & Improvements | 12,054 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 86 | ||
Total Cost | |||
Land | 22,415 | ||
Building & Improvements | 12,140 | ||
Total | 34,555 | ||
Accumulated Depreciation | (2,894) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 31,661 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 34,555 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 2,894 | ||
Tamarac Town Square [Member] | |||
Initial Cost | |||
Land | 12,584 | ||
Building & Improvements | 9,221 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,503 | ||
Total Cost | |||
Land | 12,584 | ||
Building & Improvements | 10,724 | ||
Total | 23,308 | ||
Accumulated Depreciation | (3,183) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 20,125 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 23,308 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 3,183 | ||
Tanasbourne Market [Member] | |||
Initial Cost | |||
Land | 3,269 | ||
Building & Improvements | 10,861 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (294) | ||
Total Cost | |||
Land | 3,149 | ||
Building & Improvements | 10,687 | ||
Total | 13,836 | ||
Accumulated Depreciation | (7,083) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 6,753 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 13,836 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 7,083 | ||
Tanglewood Shopping Center [Member] | |||
Initial Cost | |||
Land | 5,920 | ||
Building & Improvements | 7,889 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 9 | ||
Total Cost | |||
Land | 5,920 | ||
Building & Improvements | 7,898 | ||
Total | 13,818 | ||
Accumulated Depreciation | (100) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 13,718 | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (3,163) | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 13,818 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 100 | ||
Tassajara Crossing [Member] | |||
Initial Cost | |||
Land | 8,560 | ||
Building & Improvements | 15,464 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 2,791 | ||
Total Cost | |||
Land | 8,560 | ||
Building & Improvements | 18,255 | ||
Total | 26,815 | ||
Accumulated Depreciation | (11,227) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 15,588 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 26,815 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 11,227 | ||
Tech Ridge Center [Member] | |||
Initial Cost | |||
Land | 12,945 | ||
Building & Improvements | 37,169 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 4,362 | ||
Total Cost | |||
Land | 13,589 | ||
Building & Improvements | 40,887 | ||
Total | 54,476 | ||
Accumulated Depreciation | (20,180) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 34,296 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 54,476 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 20,180 | ||
The Abbot [Member] | |||
Initial Cost | |||
Land | 72,910 | ||
Building & Improvements | 6,086 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 51,854 | ||
Total Cost | |||
Land | 79,217 | ||
Building & Improvements | 51,633 | ||
Total | 130,850 | ||
Accumulated Depreciation | (2,904) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 127,946 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 130,850 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 2,904 | ||
The Crossing Clarendon [Member] | |||
Initial Cost | |||
Land | 154,932 | ||
Building & Improvements | 126,328 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 54,813 | ||
Total Cost | |||
Land | 161,278 | ||
Building & Improvements | 174,795 | ||
Total | 336,073 | ||
Accumulated Depreciation | (31,880) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 304,193 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 336,073 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 31,880 | ||
The Dock-Dockside [Member] | |||
Initial Cost | |||
Land | 20,974 | ||
Building & Improvements | 49,185 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 2 | ||
Total Cost | |||
Land | 20,974 | ||
Building & Improvements | 49,187 | ||
Total | 70,161 | ||
Accumulated Depreciation | (527) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 69,634 | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (33,667) | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 70,161 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 527 | ||
The Field at Commonwealth [Member] | |||
Initial Cost | |||
Land | 30,982 | ||
Building & Improvements | 18,248 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 37 | ||
Total Cost | |||
Land | 30,983 | ||
Building & Improvements | 18,284 | ||
Total | 49,267 | ||
Accumulated Depreciation | (9,071) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 40,196 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 49,267 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 9,071 | ||
The Gallery at Westbury Plaza [Member] | |||
Initial Cost | |||
Land | 108,653 | ||
Building & Improvements | 216,771 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 4,150 | ||
Total Cost | |||
Land | 108,653 | ||
Building & Improvements | 220,921 | ||
Total | 329,574 | ||
Accumulated Depreciation | (48,381) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 281,193 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 329,574 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 48,381 | ||
The Hub Hillcrest Market [Member] | |||
Initial Cost | |||
Land | 18,773 | ||
Building & Improvements | 61,906 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 7,706 | ||
Total Cost | |||
Land | 19,611 | ||
Building & Improvements | 68,774 | ||
Total | 88,385 | ||
Accumulated Depreciation | (23,007) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 65,378 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 88,385 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 23,007 | ||
The Longmeadow Shops [Member] | |||
Initial Cost | |||
Land | 5,451 | ||
Building & Improvements | 23,738 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 15 | ||
Total Cost | |||
Land | 5,451 | ||
Building & Improvements | 23,753 | ||
Total | 29,204 | ||
Accumulated Depreciation | (82) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 29,122 | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (13,000) | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 29,204 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 82 | ||
The Marketplace [Member] | |||
Initial Cost | |||
Land | 10,927 | ||
Building & Improvements | 36,052 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,230 | ||
Total Cost | |||
Land | 10,927 | ||
Building & Improvements | 37,282 | ||
Total | 48,209 | ||
Accumulated Depreciation | (8,304) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 39,905 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 48,209 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 8,304 | ||
The Plaza at St. Lucie West [Member] | |||
Initial Cost | |||
Land | 1,718 | ||
Building & Improvements | 6,204 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 39 | ||
Total Cost | |||
Land | 1,718 | ||
Building & Improvements | 6,243 | ||
Total | 7,961 | ||
Accumulated Depreciation | (1,515) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 6,446 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 7,961 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 1,515 | ||
The Point at Garden City Park [Member] | |||
Initial Cost | |||
Land | 741 | ||
Building & Improvements | 9,764 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 5,889 | ||
Total Cost | |||
Land | 2,559 | ||
Building & Improvements | 13,835 | ||
Total | 16,394 | ||
Accumulated Depreciation | (5,256) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 11,138 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 16,394 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 5,256 | ||
The Pruneyard [Member] | |||
Initial Cost | |||
Land | 112,136 | ||
Building & Improvements | 86,918 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 2,810 | ||
Total Cost | |||
Land | 112,136 | ||
Building & Improvements | 89,728 | ||
Total | 201,864 | ||
Accumulated Depreciation | (14,462) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 187,402 | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (2,200) | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 201,864 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 14,462 | ||
The Shops at Hampton Oaks [Member] | |||
Initial Cost | |||
Land | 843 | ||
Building & Improvements | 372 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (313) | ||
Total Cost | |||
Land | 297 | ||
Building & Improvements | 605 | ||
Total | 902 | ||
Accumulated Depreciation | (266) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 636 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 902 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 266 | ||
The Village at Hunter's Lake [Member] | |||
Initial Cost | |||
Land | 9,735 | ||
Building & Improvements | 12,982 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 35 | ||
Total Cost | |||
Land | 9,735 | ||
Building & Improvements | 13,017 | ||
Total | 22,752 | ||
Accumulated Depreciation | (2,929) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 19,823 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 22,752 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 2,929 | ||
The Village at Riverstone [Member] | |||
Initial Cost | |||
Land | 17,179 | ||
Building & Improvements | 13,013 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (111) | ||
Total Cost | |||
Land | 17,179 | ||
Building & Improvements | 12,902 | ||
Total | 30,081 | ||
Accumulated Depreciation | (3,838) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 26,243 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 30,081 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 3,838 | ||
Town and Country [Member] | |||
Initial Cost | |||
Land | 4,664 | ||
Building & Improvements | 5,207 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 22 | ||
Total Cost | |||
Land | 4,664 | ||
Building & Improvements | 5,229 | ||
Total | 9,893 | ||
Accumulated Depreciation | (2,110) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 7,783 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 9,893 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 2,110 | ||
Town Square [Member] | |||
Initial Cost | |||
Land | 883 | ||
Building & Improvements | 8,132 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 739 | ||
Total Cost | |||
Land | 883 | ||
Building & Improvements | 8,871 | ||
Total | 9,754 | ||
Accumulated Depreciation | (5,677) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 4,077 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 9,754 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 5,677 | ||
Towne Centre at Somers [Member] | |||
Initial Cost | |||
Land | 3,235 | ||
Building & Improvements | 30,998 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 22 | ||
Total Cost | |||
Land | 3,235 | ||
Building & Improvements | 31,020 | ||
Total | 34,255 | ||
Accumulated Depreciation | (326) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 33,929 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 34,255 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 326 | ||
Treasure Coast Plaza [Member] | |||
Initial Cost | |||
Land | 7,553 | ||
Building & Improvements | 21,554 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,198 | ||
Total Cost | |||
Land | 7,553 | ||
Building & Improvements | 22,752 | ||
Total | 30,305 | ||
Accumulated Depreciation | (5,975) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 24,330 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 30,305 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 5,975 | ||
Tustin Legacy [Member] | |||
Initial Cost | |||
Land | 13,829 | ||
Building & Improvements | 23,922 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 42 | ||
Total Cost | |||
Land | 13,828 | ||
Building & Improvements | 23,965 | ||
Total | 37,793 | ||
Accumulated Depreciation | (7,310) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 30,483 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 37,793 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 7,310 | ||
Twin City Plaza [Member] | |||
Initial Cost | |||
Land | 17,245 | ||
Building & Improvements | 44,225 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 2,685 | ||
Total Cost | |||
Land | 17,263 | ||
Building & Improvements | 46,892 | ||
Total | 64,155 | ||
Accumulated Depreciation | (22,416) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 41,739 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 64,155 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 22,416 | ||
Twin Peaks [Member] | |||
Initial Cost | |||
Land | 5,200 | ||
Building & Improvements | 25,827 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 9,650 | ||
Total Cost | |||
Land | 6,585 | ||
Building & Improvements | 34,092 | ||
Total | 40,677 | ||
Accumulated Depreciation | (19,041) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 21,636 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 40,677 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 19,041 | ||
Unigold Shopping Center [Member] | |||
Initial Cost | |||
Land | 5,490 | ||
Building & Improvements | 5,144 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 6,637 | ||
Total Cost | |||
Land | 5,561 | ||
Building & Improvements | 11,710 | ||
Total | 17,271 | ||
Accumulated Depreciation | (5,788) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 11,483 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 17,271 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 5,788 | ||
University Commons [Member] | |||
Initial Cost | |||
Land | 4,070 | ||
Building & Improvements | 30,785 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 729 | ||
Total Cost | |||
Land | 4,070 | ||
Building & Improvements | 31,514 | ||
Total | 35,584 | ||
Accumulated Depreciation | (10,327) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 25,257 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 35,584 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 10,327 | ||
Valencia Crossroads [Member] | |||
Initial Cost | |||
Land | 17,921 | ||
Building & Improvements | 17,659 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,298 | ||
Total Cost | |||
Land | 17,921 | ||
Building & Improvements | 18,957 | ||
Total | 36,878 | ||
Accumulated Depreciation | (17,499) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 19,379 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 36,878 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 17,499 | ||
Valley Ridge Shopping Center [Member] | |||
Initial Cost | |||
Land | 13,363 | ||
Building & Improvements | 19,803 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 49 | ||
Total Cost | |||
Land | 13,363 | ||
Building & Improvements | 19,852 | ||
Total | 33,215 | ||
Accumulated Depreciation | (238) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 32,977 | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (16,775) | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 33,215 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 238 | ||
Valley Stream [Member] | |||
Initial Cost | |||
Land | 13,297 | ||
Building & Improvements | 16,241 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 533 | ||
Total Cost | |||
Land | 13,887 | ||
Building & Improvements | 16,184 | ||
Total | 30,071 | ||
Accumulated Depreciation | (1,403) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 28,668 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 30,071 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 1,403 | ||
Van Houten Plaza [Member] | |||
Initial Cost | |||
Land | 2,178 | ||
Building & Improvements | 2,747 | ||
Total Cost | |||
Land | 2,178 | ||
Building & Improvements | 2,747 | ||
Total | 4,925 | ||
Accumulated Depreciation | (39) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 4,886 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 4,925 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 39 | ||
Veterans Plaza [Member] | |||
Initial Cost | |||
Land | 2,328 | ||
Building & Improvements | 7,104 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 31 | ||
Total Cost | |||
Land | 2,328 | ||
Building & Improvements | 7,135 | ||
Total | 9,463 | ||
Accumulated Depreciation | (85) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 9,378 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 9,463 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 85 | ||
Village at La Floresta [Member] | |||
Initial Cost | |||
Land | 13,140 | ||
Building & Improvements | 20,559 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (59) | ||
Total Cost | |||
Land | 13,156 | ||
Building & Improvements | 20,484 | ||
Total | 33,640 | ||
Accumulated Depreciation | (8,735) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 24,905 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 33,640 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 8,735 | ||
Village at Lee Airpark [Member] | |||
Initial Cost | |||
Land | 11,099 | ||
Building & Improvements | 12,975 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 3,823 | ||
Total Cost | |||
Land | 11,803 | ||
Building & Improvements | 16,094 | ||
Total | 27,897 | ||
Accumulated Depreciation | (14,880) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 13,017 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 27,897 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 14,880 | ||
Village Center [Member] | |||
Initial Cost | |||
Land | 3,885 | ||
Building & Improvements | 14,131 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 10,047 | ||
Total Cost | |||
Land | 5,480 | ||
Building & Improvements | 22,583 | ||
Total | 28,063 | ||
Accumulated Depreciation | (13,473) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 14,590 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 28,063 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 13,473 | ||
Village Commons [Member] | |||
Initial Cost | |||
Land | 312 | ||
Building & Improvements | 5,950 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 114 | ||
Total Cost | |||
Land | 312 | ||
Building & Improvements | 6,064 | ||
Total | 6,376 | ||
Accumulated Depreciation | (85) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 6,291 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 6,376 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 85 | ||
Von's Circle Center [Member] | |||
Initial Cost | |||
Land | 49,037 | ||
Building & Improvements | 22,618 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 924 | ||
Total Cost | |||
Land | 49,037 | ||
Building & Improvements | 23,542 | ||
Total | 72,579 | ||
Accumulated Depreciation | (6,091) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 66,488 | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (4,273) | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 72,579 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 6,091 | ||
Wading River [Member] | |||
Initial Cost | |||
Land | 14,969 | ||
Building & Improvements | 18,641 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 634 | ||
Total Cost | |||
Land | 14,915 | ||
Building & Improvements | 19,329 | ||
Total | 34,244 | ||
Accumulated Depreciation | (1,476) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 32,768 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 34,244 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 1,476 | ||
Waldwick Plaza [Member] | |||
Initial Cost | |||
Land | 1,724 | ||
Building & Improvements | 5,824 | ||
Total Cost | |||
Land | 1,724 | ||
Building & Improvements | 5,824 | ||
Total | 7,548 | ||
Accumulated Depreciation | (73) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 7,475 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 7,548 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 73 | ||
Walker Center [Member] | |||
Initial Cost | |||
Land | 3,840 | ||
Building & Improvements | 7,232 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 4,094 | ||
Total Cost | |||
Land | 3,878 | ||
Building & Improvements | 11,288 | ||
Total | 15,166 | ||
Accumulated Depreciation | (8,612) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 6,554 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 15,166 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 8,612 | ||
Walmart Norwalk [Member] | |||
Initial Cost | |||
Land | 20,394 | ||
Building & Improvements | 21,261 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 9 | ||
Total Cost | |||
Land | 20,394 | ||
Building & Improvements | 21,270 | ||
Total | 41,664 | ||
Accumulated Depreciation | (6,377) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 35,287 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 41,664 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 6,377 | ||
Washington Commons [Member] | |||
Initial Cost | |||
Land | 7,829 | ||
Building & Improvements | 12,182 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 36 | ||
Total Cost | |||
Land | 7,829 | ||
Building & Improvements | 12,218 | ||
Total | 20,047 | ||
Accumulated Depreciation | (150) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 19,897 | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (8,766) | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 20,047 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 150 | ||
Waterstone Plaza [Member] | |||
Initial Cost | |||
Land | 5,498 | ||
Building & Improvements | 13,500 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 131 | ||
Total Cost | |||
Land | 5,498 | ||
Building & Improvements | 13,631 | ||
Total | 19,129 | ||
Accumulated Depreciation | (3,544) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 15,585 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 19,129 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 3,544 | ||
Welleby Plaza [Member] | |||
Initial Cost | |||
Land | 1,496 | ||
Building & Improvements | 7,787 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 2,338 | ||
Total Cost | |||
Land | 1,496 | ||
Building & Improvements | 10,125 | ||
Total | 11,621 | ||
Accumulated Depreciation | (8,928) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 2,693 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 11,621 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 8,928 | ||
Wellington Town Square [Member] | |||
Initial Cost | |||
Land | 2,041 | ||
Building & Improvements | 12,131 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 3,010 | ||
Total Cost | |||
Land | 2,600 | ||
Building & Improvements | 14,582 | ||
Total | 17,182 | ||
Accumulated Depreciation | (7,916) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 9,266 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 17,182 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 7,916 | ||
West Bird Plaza [Member] | |||
Initial Cost | |||
Land | 12,934 | ||
Building & Improvements | 18,594 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 339 | ||
Total Cost | |||
Land | 15,386 | ||
Building & Improvements | 16,481 | ||
Total | 31,867 | ||
Accumulated Depreciation | (4,044) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 27,823 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 31,867 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 4,044 | ||
West Chester Plaza [Member] | |||
Initial Cost | |||
Land | 1,857 | ||
Building & Improvements | 7,572 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 725 | ||
Total Cost | |||
Land | 1,857 | ||
Building & Improvements | 8,297 | ||
Total | 10,154 | ||
Accumulated Depreciation | (6,979) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 3,175 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 10,154 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 6,979 | ||
West Lake Shopping Center [Member] | |||
Initial Cost | |||
Land | 10,561 | ||
Building & Improvements | 9,792 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 447 | ||
Total Cost | |||
Land | 10,561 | ||
Building & Improvements | 10,239 | ||
Total | 20,800 | ||
Accumulated Depreciation | (3,114) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 17,686 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 20,800 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 3,114 | ||
West Park Plaza [Member] | |||
Initial Cost | |||
Land | 5,840 | ||
Building & Improvements | 5,759 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 3,003 | ||
Total Cost | |||
Land | 5,840 | ||
Building & Improvements | 8,762 | ||
Total | 14,602 | ||
Accumulated Depreciation | (5,619) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 8,983 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 14,602 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 5,619 | ||
Westbard Square [Member] | |||
Initial Cost | |||
Land | 127,859 | ||
Building & Improvements | 21,514 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (8,648) | ||
Total Cost | |||
Land | 127,934 | ||
Building & Improvements | 12,791 | ||
Total | 140,725 | ||
Accumulated Depreciation | (12,024) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 128,701 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 140,725 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 12,024 | ||
Westbury Plaza [Member] | |||
Initial Cost | |||
Land | 116,129 | ||
Building & Improvements | 51,460 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 6,901 | ||
Total Cost | |||
Land | 117,832 | ||
Building & Improvements | 56,658 | ||
Total | 174,490 | ||
Accumulated Depreciation | (14,612) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 159,878 | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (88,000) | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 174,490 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 14,612 | ||
Westchase [Member] | |||
Initial Cost | |||
Land | 5,302 | ||
Building & Improvements | 8,273 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,428 | ||
Total Cost | |||
Land | 5,302 | ||
Building & Improvements | 9,701 | ||
Total | 15,003 | ||
Accumulated Depreciation | (4,971) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 10,032 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 15,003 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 4,971 | ||
Westchester Commons [Member] | |||
Initial Cost | |||
Land | 3,366 | ||
Building & Improvements | 11,751 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 11,160 | ||
Total Cost | |||
Land | 4,894 | ||
Building & Improvements | 21,383 | ||
Total | 26,277 | ||
Accumulated Depreciation | (11,182) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 15,095 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 26,277 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 11,182 | ||
Westlake Village Plaza and Center [Member] | |||
Initial Cost | |||
Land | 7,043 | ||
Building & Improvements | 27,195 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 30,794 | ||
Total Cost | |||
Land | 17,620 | ||
Building & Improvements | 47,412 | ||
Total | 65,032 | ||
Accumulated Depreciation | (36,156) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 28,876 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 65,032 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 36,156 | ||
Westport Plaza [Member] | |||
Initial Cost | |||
Land | 9,035 | ||
Building & Improvements | 7,455 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (29) | ||
Total Cost | |||
Land | 9,035 | ||
Building & Improvements | 7,426 | ||
Total | 16,461 | ||
Accumulated Depreciation | (2,271) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 14,190 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 16,461 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 2,271 | ||
Westport Row [Member] | |||
Initial Cost | |||
Land | 43,597 | ||
Building & Improvements | 16,428 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 14,673 | ||
Total Cost | |||
Land | 46,170 | ||
Building & Improvements | 28,528 | ||
Total | 74,698 | ||
Accumulated Depreciation | (7,180) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 67,518 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 74,698 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 7,180 | ||
Westwood Village [Member] | |||
Initial Cost | |||
Land | 19,933 | ||
Building & Improvements | 25,301 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (1,050) | ||
Total Cost | |||
Land | 18,979 | ||
Building & Improvements | 25,205 | ||
Total | 44,184 | ||
Accumulated Depreciation | (18,416) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 25,768 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 44,184 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 18,416 | ||
Willa Springs [Member] | |||
Initial Cost | |||
Land | 13,322 | ||
Building & Improvements | 15,314 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 330 | ||
Total Cost | |||
Land | 13,322 | ||
Building & Improvements | 15,644 | ||
Total | 28,966 | ||
Accumulated Depreciation | (1,358) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 27,608 | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (16,700) | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 28,966 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 1,358 | ||
Williamsburg at Dunwoody [Member] | |||
Initial Cost | |||
Land | 7,435 | ||
Building & Improvements | 3,721 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,193 | ||
Total Cost | |||
Land | 7,444 | ||
Building & Improvements | 4,905 | ||
Total | 12,349 | ||
Accumulated Depreciation | (1,763) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 10,586 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 12,349 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 1,763 | ||
Willow Festival [Member] | |||
Initial Cost | |||
Land | 1,954 | ||
Building & Improvements | 56,501 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 3,641 | ||
Total Cost | |||
Land | 1,976 | ||
Building & Improvements | 60,120 | ||
Total | 62,096 | ||
Accumulated Depreciation | (23,333) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 38,763 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 62,096 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 23,333 | ||
Willow Oaks [Member] | |||
Initial Cost | |||
Land | 6,664 | ||
Building & Improvements | 7,908 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (272) | ||
Total Cost | |||
Land | 6,294 | ||
Building & Improvements | 8,006 | ||
Total | 14,300 | ||
Accumulated Depreciation | (3,998) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 10,302 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 14,300 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 3,998 | ||
Willows Shopping Center [Member] | |||
Initial Cost | |||
Land | 51,964 | ||
Building & Improvements | 78,029 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 3,414 | ||
Total Cost | |||
Land | 51,992 | ||
Building & Improvements | 81,415 | ||
Total | 133,407 | ||
Accumulated Depreciation | (17,960) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 115,447 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 133,407 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 17,960 | ||
Woodcroft Shopping Center [Member] | |||
Initial Cost | |||
Land | 1,419 | ||
Building & Improvements | 6,284 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,799 | ||
Total Cost | |||
Land | 1,421 | ||
Building & Improvements | 8,081 | ||
Total | 9,502 | ||
Accumulated Depreciation | (5,807) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 3,695 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 9,502 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 5,807 | ||
Woodman Van Nuys [Member] | |||
Initial Cost | |||
Land | 5,500 | ||
Building & Improvements | 7,195 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 384 | ||
Total Cost | |||
Land | 5,500 | ||
Building & Improvements | 7,579 | ||
Total | 13,079 | ||
Accumulated Depreciation | (4,833) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 8,246 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 13,079 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 4,833 | ||
Woodmen Plaza [Member] | |||
Initial Cost | |||
Land | 7,621 | ||
Building & Improvements | 11,018 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,441 | ||
Total Cost | |||
Land | 7,621 | ||
Building & Improvements | 12,459 | ||
Total | 20,080 | ||
Accumulated Depreciation | (12,436) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 7,644 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 20,080 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 12,436 | ||
Woodside Central [Member] | |||
Initial Cost | |||
Land | 3,500 | ||
Building & Improvements | 9,288 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 895 | ||
Total Cost | |||
Land | 3,489 | ||
Building & Improvements | 10,194 | ||
Total | 13,683 | ||
Accumulated Depreciation | (6,498) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 7,185 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 13,683 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 6,498 | ||
Corporate Assets [Member] | |||
Initial Cost | |||
Building & Improvements | 2,127 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,336 | ||
Total Cost | |||
Building & Improvements | 3,463 | ||
Total | 3,463 | ||
Accumulated Depreciation | (1,489) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 1,974 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 3,463 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 1,489 | ||
Land held for future development [Member] | |||
Initial Cost | |||
Land | 11,323 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (4,611) | ||
Total Cost | |||
Land | 6,712 | ||
Total | 6,712 | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 6,712 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 6,712 | ||
Construction in progress [Member] | |||
Initial Cost | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 218,181 | ||
Total Cost | |||
Building & Improvements | 218,181 | ||
Total | 218,181 | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 218,181 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | $ 218,181 |