Document and Entity Information
Document and Entity Information - USD ($) $ in Billions | 12 Months Ended | ||
Dec. 31, 2019 | Feb. 12, 2020 | Jun. 30, 2019 | |
Document Information [Line Items] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Dec. 31, 2019 | ||
Document Fiscal Year Focus | 2019 | ||
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 | $ 11.1 | ||
Entity Common Stock, Shares Outstanding | 167,715,882 | ||
Entity Shell Company | false | ||
Entity Small Business | false | ||
Entity Emerging Growth Company | false | ||
Title of 12(b) Security | Common Stock, $.01 par value | ||
Trading Symbol | REG | ||
Security Exchange Name | NASDAQ | ||
Entity File Number | 1-12298 | ||
Entity Incorporation, State or Country Code | FL | ||
Entity Tax Identification Number | 59-3191743 | ||
Entity Address, Address Line One | One Independent Drive | ||
Entity Address, Address Line Two | Suite 114 | ||
Entity Address, City or Town | Jacksonville | ||
Entity Address, State or Province | FL | ||
Entity Address, Postal Zip Code | 32202 | ||
City Area Code | 904 | ||
Local Phone Number | 598-7000 | ||
Document Annual Report | true | ||
Document Transition Report | false | ||
Documents Incorporated by Reference | Portions of Regency Centers Corporation's proxy statement in connection with its 2020 Annual Meeting of Stockholders are incorporated by reference in Part III. | ||
Partnership Interest [Member] | |||
Document Information [Line Items] | |||
Entity Registrant Name | REGENCY CENTERS, L.P. | ||
Entity Central Index Key | 0001066247 | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Accelerated Filer | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Shell Company | false | ||
Entity Small Business | false | ||
Entity Emerging Growth Company | false | ||
Entity File Number | 0-24763 | ||
Entity Incorporation, State or Country Code | DE | ||
Entity Tax Identification Number | 59-3429602 | ||
Entity Address, Address Line One | One Independent Drive | ||
Entity Address, Address Line Two | Suite 114 | ||
Entity Address, City or Town | Jacksonville | ||
Entity Address, State or Province | FL | ||
Entity Address, Postal Zip Code | 32202 | ||
City Area Code | 904 | ||
Local Phone Number | 598-7000 | ||
Document Annual Report | true | ||
Document Transition Report | false |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Real Estate Investment Property, at Cost [Abstract] | ||
Real estate assets, at cost (note 1): | $ 11,095,294 | $ 10,863,162 |
Less: accumulated depreciation | 1,766,162 | 1,535,444 |
Real estate assets, net | 9,329,132 | 9,327,718 |
Investments in real estate partnerships (note 4) | 469,522 | 463,001 |
Properties held for sale | 45,565 | 60,516 |
Cash, cash equivalents, and restricted cash, including $2,542 and $2,658 of restricted cash at December 31, 2019 and 2018, respectively (note 1) | 115,562 | 45,190 |
Tenant and other receivables (note 1) | 169,337 | 172,359 |
Deferred leasing costs, less accumulated amortization of $108,381 and $101,093 at December 31, 2019 and 2018, respectively | 76,798 | 84,983 |
Acquired lease intangible assets, less accumulated amortization of $259,310 and $219,689 at December 31, 2019 and 2018, respectively (note 6) | 242,822 | 387,069 |
Right of use assets, net | 292,786 | 0 |
Other assets (note 5) | 390,729 | 403,827 |
Total assets | 11,132,253 | 10,944,663 |
Liabilities: | ||
Notes payable (note 9) | 3,435,161 | 3,006,478 |
Unsecured credit facilities (note 9) | 484,383 | 708,734 |
Accounts payable and other liabilities | 213,705 | 224,807 |
Acquired lease intangible liabilities, less accumulated amortization of $131,676 and $92,746 at December 31, 2019 and 2018, respectively (note 6) | 427,260 | 496,726 |
Lease liabilities | 222,918 | 0 |
Tenants’ security, escrow deposits and prepaid rent | 58,865 | 57,750 |
Total liabilities | 4,842,292 | 4,494,495 |
Commitments and contingencies (note 16) | 0 | 0 |
Stockholders’ equity/Partners' capital: | ||
Common stock $0.01 par value per share, 220,000,000 shares authorized; 167,571,218 and 167,904,593 shares issued at December 31, 2019 and 2018, respectively | 1,676 | 1,679 |
Treasury stock at cost, 440,574 and 390,163 shares held at December 31, 2019 and 2018, respectively | (23,199) | (19,834) |
Additional paid-in capital | 7,654,930 | 7,672,517 |
Accumulated other comprehensive loss | (11,997) | (927) |
Distributions in excess of net income | (1,408,062) | (1,255,465) |
Total stockholders’ equity | 6,213,348 | 6,397,970 |
Noncontrolling interests (note 12): | ||
Exchangeable operating partnership units, aggregate redemption value of $47,092 and $20,532 at December 31, 2019 and 2018, respectively | 36,100 | 10,666 |
Limited partners’ interests in consolidated partnerships (note 1) | 40,513 | 41,532 |
Total noncontrolling interests | 76,613 | 52,198 |
Total equity | 6,289,961 | 6,450,168 |
Total liabilities and equity | 11,132,253 | 10,944,663 |
Partnership Interest [Member] | ||
Real Estate Investment Property, at Cost [Abstract] | ||
Real estate assets, at cost (note 1): | 11,095,294 | 10,863,162 |
Less: accumulated depreciation | 1,766,162 | 1,535,444 |
Real estate assets, net | 9,329,132 | 9,327,718 |
Investments in real estate partnerships (note 4) | 469,522 | 463,001 |
Properties held for sale | 45,565 | 60,516 |
Cash, cash equivalents, and restricted cash, including $2,542 and $2,658 of restricted cash at December 31, 2019 and 2018, respectively (note 1) | 115,562 | 45,190 |
Tenant and other receivables (note 1) | 169,337 | 172,359 |
Deferred leasing costs, less accumulated amortization of $108,381 and $101,093 at December 31, 2019 and 2018, respectively | 76,798 | 84,983 |
Acquired lease intangible assets, less accumulated amortization of $259,310 and $219,689 at December 31, 2019 and 2018, respectively (note 6) | 242,822 | 387,069 |
Right of use assets, net | 292,786 | 0 |
Other assets (note 5) | 390,729 | 403,827 |
Total assets | 11,132,253 | 10,944,663 |
Liabilities: | ||
Notes payable (note 9) | 3,435,161 | 3,006,478 |
Unsecured credit facilities (note 9) | 484,383 | 708,734 |
Accounts payable and other liabilities | 213,705 | 224,807 |
Acquired lease intangible liabilities, less accumulated amortization of $131,676 and $92,746 at December 31, 2019 and 2018, respectively (note 6) | 427,260 | 496,726 |
Lease liabilities | 222,918 | 0 |
Tenants’ security, escrow deposits and prepaid rent | 58,865 | 57,750 |
Total liabilities | 4,842,292 | 4,494,495 |
Commitments and contingencies (note 16) | 0 | 0 |
Stockholders’ equity/Partners' capital: | ||
General partner; 167,904,593 and 171,364,908 units outstanding at December 31, 2019 and 2018, respectively | 6,225,345 | 6,398,897 |
Limited partners; 349,902 units outstanding at December 31, 2019 and 2018 | 36,100 | 10,666 |
Accumulated other comprehensive loss | (11,997) | (927) |
Total partners’ capital | 6,249,448 | 6,408,636 |
Noncontrolling interests (note 12): | ||
Limited partners’ interests in consolidated partnerships (note 1) | 40,513 | 41,532 |
Total capital | 6,289,961 | 6,450,168 |
Total liabilities and equity | $ 11,132,253 | $ 10,944,663 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Restricted Cash and Cash Equivalents | $ 2,542 | $ 2,658 |
Deferred costs accumulated amortization | 108,381 | 101,093 |
Accumulated amortization of acquired lease intangible assets | 259,310 | 219,689 |
Accumulated accretion of acquired lease intangible liabilities | $ 131,676 | $ 92,746 |
Common stock, par value per share | $ 0.01 | $ 0.01 |
Common stock, shares authorized | 220,000,000 | 220,000,000 |
Common stock, shares issued | 167,571,218 | 167,904,593 |
Treasury stock, shares held at cost | 440,574 | 390,163 |
Exchangeable operating partnership units aggregate redemption value | $ 47,092 | $ 20,532 |
General partner units, outstanding | 167,571,000 | 167,904,000 |
Limited partner units, outstanding | 746,000 | 350,000 |
Partnership Interest [Member] | ||
Restricted Cash and Cash Equivalents | $ 2,542 | $ 2,658 |
Deferred costs accumulated amortization | 108,381 | 101,093 |
Accumulated amortization of acquired lease intangible assets | 259,310 | 219,689 |
Accumulated accretion of acquired lease intangible liabilities | $ 131,676 | $ 92,746 |
General partner units, outstanding | 167,571,218 | 167,904,593 |
Limited partner units, outstanding | 746,433 | 349,902 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Revenues: | |||
Lease income | $ 1,094,301 | $ 1,083,770 | $ 950,186 |
Other property income | 9,201 | 8,711 | 7,982 |
Management, transaction, and other fees | 29,636 | 28,494 | 26,158 |
Total revenues | 1,133,138 | 1,120,975 | 984,326 |
Operating expenses: | |||
Depreciation and amortization | 374,283 | 359,688 | 334,201 |
Operating and maintenance | 169,909 | 168,034 | 143,990 |
General and administrative | 74,984 | 65,491 | 67,624 |
Real estate taxes | 136,236 | 137,856 | 109,723 |
Other operating expenses | 7,814 | 9,737 | 89,225 |
Total operating expenses | 763,226 | 740,806 | 744,763 |
Other expense (income): | |||
Interest expense, net | 151,264 | 148,456 | 132,629 |
Provision for impairment, net of tax | 54,174 | 38,437 | 0 |
Gain on sale of real estate, net of tax | (24,242) | (28,343) | (27,432) |
Early extinguishment of debt | 11,982 | 11,172 | 12,449 |
Net investment (income) loss | (5,568) | 1,096 | (3,985) |
Total other expense (income) | 187,610 | 170,818 | 113,661 |
Income from operations before equity in income of investments in real estate partnerships and income taxes | 182,302 | 209,351 | 125,902 |
Equity in income of investments in real estate partnerships (note 4) | 60,956 | 42,974 | 43,341 |
Deferred income tax benefit of taxable REIT subsidiary | 0 | 0 | (9,737) |
Net income | 243,258 | 252,325 | 178,980 |
Noncontrolling interests: | |||
Exchangeable operating partnership units | (634) | (525) | (388) |
Limited partners’ interests in consolidated partnerships | (3,194) | (2,673) | (2,515) |
Income attributable to noncontrolling interests | (3,828) | (3,198) | (2,903) |
Net income attributable to the Company | 239,430 | 249,127 | 176,077 |
Net income attributable to the Company | 239,430 | 249,127 | 176,077 |
Preferred stock dividends and issuance costs | (16,128) | ||
Net income attributable to common stockholders | $ 239,430 | $ 249,127 | $ 159,949 |
Income per common share - basic (note 15) | $ 1.43 | $ 1.47 | $ 1 |
Income per common share - diluted (note 15) | $ 1.43 | $ 1.46 | $ 1 |
Income from operations before equity in income of investments in real estate partnerships and income taxes | $ 182,302 | $ 209,351 | $ 125,902 |
Deferred income tax benefit of taxable REIT subsidiary | 1,245 | 522 | (9,647) |
Partnership Interest [Member] | |||
Revenues: | |||
Lease income | 1,094,301 | 1,083,770 | 950,186 |
Other property income | 9,201 | 8,711 | 7,982 |
Management, transaction, and other fees | 29,636 | 28,494 | 26,158 |
Total revenues | 1,133,138 | 1,120,975 | 984,326 |
Operating expenses: | |||
Depreciation and amortization | 374,283 | 359,688 | 334,201 |
Operating and maintenance | 169,909 | 168,034 | 143,990 |
General and administrative | 74,984 | 65,491 | 67,624 |
Real estate taxes | 136,236 | 137,856 | 109,723 |
Other operating expenses | 7,814 | 9,737 | 89,225 |
Total operating expenses | 763,226 | 740,806 | 744,763 |
Other expense (income): | |||
Interest expense, net | 151,264 | 148,456 | 132,629 |
Provision for impairment, net of tax | 54,174 | 38,437 | 0 |
Gain on sale of real estate, net of tax | (24,242) | (28,343) | (27,432) |
Early extinguishment of debt | 11,982 | 11,172 | 12,449 |
Net investment (income) loss | (5,568) | 1,096 | (3,985) |
Total other expense (income) | 187,610 | 170,818 | 113,661 |
Income from operations before equity in income of investments in real estate partnerships and income taxes | 182,302 | 209,351 | 125,902 |
Equity in income of investments in real estate partnerships (note 4) | 60,956 | 42,974 | 43,341 |
Net income | 243,258 | 252,325 | 178,980 |
Noncontrolling interests: | |||
Limited partners’ interests in consolidated partnerships | (3,194) | (2,673) | (2,515) |
Income attributable to noncontrolling interests | (3,194) | (2,673) | (2,515) |
Net income attributable to the Company | 240,064 | 249,652 | 176,465 |
Net income attributable to the Company | 240,064 | 249,652 | 176,465 |
Income from operations before equity in income of investments in real estate partnerships and income taxes | 182,302 | 209,351 | 125,902 |
Deferred income tax benefit of taxable REIT subsidiary | (9,737) | ||
Preferred unit distributions and issuance costs | (16,128) | ||
Net income attributable to common unit holders | $ 240,064 | $ 249,652 | $ 160,337 |
Income per common unit - basic (note 15): | $ 1.43 | $ 1.47 | $ 1 |
Income per common unit - diluted (note 15): | $ 1.43 | $ 1.46 | $ 1 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Net income | $ 243,258 | $ 252,325 | $ 178,980 |
Other comprehensive income: | |||
Effective portion of change in fair value of derivative instruments | (15,585) | 402 | 1,151 |
Reclassification adjustment of derivative instruments included in net income | 3,269 | 5,342 | 11,103 |
Unrealized gain (loss) on available-for-sale securities | 315 | (95) | (8) |
Other comprehensive income | (12,001) | 5,649 | 12,246 |
Comprehensive income | 231,257 | 257,974 | 191,226 |
Less: comprehensive income attributable to noncontrolling interests: | |||
Net income attributable to noncontrolling interests | 3,828 | 3,198 | 2,903 |
Other comprehensive income attributable to noncontrolling interests | (931) | 299 | 189 |
Comprehensive income attributable to noncontrolling interests | 2,897 | 3,497 | 3,092 |
Comprehensive income attributable to the Company | 228,360 | 254,477 | 188,134 |
Partnership Interest [Member] | |||
Net income | 243,258 | 252,325 | 178,980 |
Other comprehensive income: | |||
Effective portion of change in fair value of derivative instruments | (15,585) | 402 | 1,151 |
Reclassification adjustment of derivative instruments included in net income | 3,269 | 5,342 | 11,103 |
Unrealized gain (loss) on available-for-sale securities | 315 | (95) | (8) |
Other comprehensive income | (12,001) | 5,649 | 12,246 |
Comprehensive income | 231,257 | 257,974 | 191,226 |
Less: comprehensive income attributable to noncontrolling interests: | |||
Net income attributable to noncontrolling interests | 3,194 | 2,673 | 2,515 |
Other comprehensive income attributable to noncontrolling interests | (912) | 288 | 168 |
Comprehensive income attributable to noncontrolling interests | 2,282 | 2,961 | 2,683 |
Comprehensive income attributable to the Company | $ 228,975 | $ 255,013 | $ 188,543 |
Consolidated Statement of Equit
Consolidated Statement of Equity - USD ($) $ in Thousands | Total | Equity One Inc. [Member] | Preferred Stock [Member] | Common Stock [Member] | Common Stock [Member]Equity One Inc. [Member] | Treasury Stock [Member] | Additional Paid-in Capital [Member] | Additional Paid-in Capital [Member]Equity One Inc. [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Distributions in Excess of Net Income [Member] | Total Stockholders' Equity [Member] | Total Stockholders' Equity [Member]Equity One Inc. [Member] | Noncontrolling Interest Exchangeable Operating Partnership Units [Member] | Noncontrolling Interests in Limited Partners' Interest in Consolidated Partnerships [Member] | Noncontrolling Interest [Member] |
Beginning balance at Dec. 31, 2016 | $ 2,624,502 | $ 325,000 | $ 1,045 | $ (17,062) | $ 3,294,923 | $ (18,346) | $ (994,259) | $ 2,591,301 | $ (1,967) | $ 35,168 | $ 33,201 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||||||
Net income | 178,980 | 176,077 | 176,077 | 388 | 2,515 | 2,903 | |||||||||
Other comprehensive income: | |||||||||||||||
Other comprehensive income before reclassifications | 1,143 | 1,126 | 1,126 | 2 | 15 | 17 | |||||||||
Amounts reclassified from accumulated other comprehensive income | 11,103 | 10,931 | 10,931 | 19 | 153 | 172 | |||||||||
Deferred compensation plan, net | (9) | (1,245) | 1,236 | (9) | |||||||||||
Restricted stock issued, net of amortization | 15,295 | $ 7,951 | 2 | $ 1 | 15,293 | $ 7,950 | 15,295 | $ 7,951 | |||||||
Common stock issued for stock based compensation, net of repurchases | (18,346) | (1) | (18,345) | (18,346) | |||||||||||
Common stock issued under dividend reinvestment plan | 1,210 | 1,210 | 1,210 | ||||||||||||
Common stock issued for stock offerings, net of issuance costs | 4,560,477 | 667 | 4,559,810 | 4,560,477 | |||||||||||
Redemption of preferred stock | (325,000) | $ (325,000) | 11,099 | (11,099) | (325,000) | ||||||||||
Reallocation of limited partners' interest | (72) | (72) | 72 | 72 | |||||||||||
Contributions from partners | 13,478 | 13,100 | 378 | 13,478 | |||||||||||
Distributions to partners | (8,206) | (8,206) | (8,206) | ||||||||||||
Cash dividends declared: | |||||||||||||||
Preferred stock/unit | (5,029) | (5,029) | (5,029) | ||||||||||||
Common stock/unit | (324,495) | (323,860) | (323,860) | (635) | (635) | ||||||||||
Ending Balance at Dec. 31, 2017 | 6,733,054 | 1,714 | (18,307) | 7,873,104 | (6,289) | (1,158,170) | 6,692,052 | 10,907 | 30,095 | 41,002 | |||||
Adjustment due to change in accounting policy (note 1) at Dec. 31, 2017 | 30,903 | 12 | 30,889 | 30,901 | 2 | 2 | |||||||||
Adjusted balance at Dec. 31, 2017 | 6,763,957 | 1,714 | (18,307) | 7,873,104 | (6,277) | (1,127,281) | 6,722,953 | 10,907 | 30,097 | 41,004 | |||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||||||
Net income | 252,325 | 249,127 | 249,127 | 525 | 2,673 | 3,198 | |||||||||
Other comprehensive income: | |||||||||||||||
Other comprehensive income before reclassifications | 307 | 36 | 36 | 271 | 271 | ||||||||||
Amounts reclassified from accumulated other comprehensive income | 5,342 | 5,314 | 5,314 | 11 | 17 | 28 | |||||||||
Deferred compensation plan, net | (13) | (1,527) | 1,514 | (13) | |||||||||||
Restricted stock issued, net of amortization | 16,745 | 2 | 16,743 | 16,745 | |||||||||||
Common stock issued for stock based compensation, net of repurchases | (6,373) | (6,373) | (6,373) | ||||||||||||
Common stock issued under dividend reinvestment plan | 1,333 | 1,333 | 1,333 | ||||||||||||
Common stock issued for stock offerings, net of issuance costs | 10 | 10 | 10 | ||||||||||||
Common stock repurchased and retired | (213,851) | (37) | (213,814) | (213,851) | |||||||||||
Contributions from partners | 13,000 | 13,000 | 13,000 | ||||||||||||
Distributions to partners | (4,526) | (4,526) | (4,526) | ||||||||||||
Cash dividends declared: | |||||||||||||||
Common stock/unit | (378,088) | (377,311) | (377,311) | (777) | (777) | ||||||||||
Ending Balance at Dec. 31, 2018 | 6,450,168 | 1,679 | (19,834) | 7,672,517 | (927) | (1,255,465) | 6,397,970 | 10,666 | 41,532 | 52,198 | |||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||||||
Net income | 243,258 | 239,430 | 239,430 | 634 | 3,194 | 3,828 | |||||||||
Other comprehensive income: | |||||||||||||||
Other comprehensive income before reclassifications | (15,270) | (14,388) | (14,388) | (31) | (851) | (882) | |||||||||
Amounts reclassified from accumulated other comprehensive income | 3,269 | 3,318 | 3,318 | 12 | (61) | (49) | |||||||||
Deferred compensation plan, net | (3,365) | 3,365 | |||||||||||||
Restricted stock issued, net of amortization | 16,254 | 2 | 16,252 | 16,254 | |||||||||||
Common stock issued for stock based compensation, net of repurchases | (5,794) | (5,794) | (5,794) | ||||||||||||
Common stock issued under dividend reinvestment plan | 1,429 | 1 | 1,428 | 1,429 | |||||||||||
Common stock repurchased and retired | (32,778) | (6) | (32,772) | (32,778) | |||||||||||
Reallocation of limited partners' interest | (66) | (66) | 66 | 66 | |||||||||||
Contributions from partners | 2,151 | 2,151 | 2,151 | ||||||||||||
Issuance of exchangeable operating partnership units | 25,870 | 25,870 | 25,870 | ||||||||||||
Distributions to partners | (5,518) | (5,518) | (5,518) | ||||||||||||
Cash dividends declared: | |||||||||||||||
Common stock/unit | (393,078) | (392,027) | (392,027) | (1,051) | (1,051) | ||||||||||
Ending Balance at Dec. 31, 2019 | $ 6,289,961 | $ 1,676 | $ (23,199) | $ 7,654,930 | $ (11,997) | $ (1,408,062) | $ 6,213,348 | $ 36,100 | $ 40,513 | $ 76,613 |
Consolidated Statement of Equ_2
Consolidated Statement of Equity (Parenthetical) - $ / shares | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Statement Of Stockholders Equity [Abstract] | |||
Common stock/unit per share | $ 2.34 | $ 2.22 | $ 2.10 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Cash flows from operating activities: | |||
Net income | $ 243,258 | $ 252,325 | $ 178,980 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation and amortization | 374,283 | 359,688 | 334,201 |
Amortization of deferred loan costs and debt premiums | 11,170 | 10,476 | 9,509 |
(Accretion) and amortization of above and below market lease intangibles, net | (43,867) | (33,330) | (23,144) |
Stock-based compensation, net of capitalization | 14,339 | 13,635 | 20,549 |
Equity in income of investments in real estate partnerships | (60,956) | (42,974) | (43,341) |
Gain on sale of real estate, net of tax | (24,242) | (28,343) | (27,432) |
Provision for impairment, net of tax | 54,174 | 38,437 | 0 |
Early extinguishment of debt | 11,982 | 11,172 | 12,449 |
Deferred income tax benefit of taxable REIT subsidiary | 0 | 0 | (9,737) |
Distribution of earnings from investments in real estate partnerships | 56,297 | 54,266 | 53,502 |
Settlement of derivative instrument | (6,870) | 0 | 76 |
Deferred compensation expense | 5,169 | (1,085) | 3,844 |
Realized and unrealized gain on investments | (5,433) | 1,177 | (3,837) |
Deferred income tax benefit of taxable REIT subsidiary | (331) | (5,145) | (10,815) |
Changes in assets and liabilities: | |||
Tenant and other receivables | (4,690) | (26,374) | (26,081) |
Deferred leasing costs | (6,777) | (8,366) | (14,448) |
Other assets | (1,570) | (1,410) | 9,536 |
Accounts payable and other liabilities | 4,175 | (760) | (2,114) |
Tenants’ security, escrow deposits and prepaid rent | 829 | 11,793 | (2,728) |
Net cash provided by operating activities | 621,271 | 610,327 | 469,784 |
Cash flows from investing activities: | |||
Acquisition of operating real estate | (222,444) | (85,289) | (124,727) |
Advance deposits paid toward the acquisition of operating real estate | (125) | 0 | (4,917) |
Acquisition of Equity One, net of cash and restricted cash acquired of $74,507 | 0 | 0 | (646,790) |
Real estate development and capital improvements | (200,012) | (226,191) | (346,857) |
Proceeds from sale of real estate investments | 137,572 | 250,445 | 110,015 |
Proceeds from property insurance casualty claims | 9,350 | 0 | 0 |
(Issuance)/Collection of notes receivable | (547) | 15,648 | (5,236) |
Investments in real estate partnerships | (66,921) | (74,238) | (23,529) |
Return of capital from investments in real estate partnerships | 63,693 | 14,647 | 36,603 |
Dividends on investment securities | 660 | 531 | 365 |
Acquisition of investment securities | (23,458) | (23,164) | (23,535) |
Proceeds from sale of investment securities | 19,539 | 21,587 | 21,378 |
Net cash used in investing activities | (282,693) | (106,024) | (1,007,230) |
Cash flows from financing activities: | |||
Net proceeds from common stock issuance | 0 | 0 | 88,458 |
Repurchase of common shares/units in conjunction with tax withholdings on equity award plans | (6,204) | (6,772) | (18,649) |
Proceeds from sale of treasury stock | 9 | 99 | 100 |
Common shares repurchased through share repurchase program | (32,778) | (213,851) | 0 |
Redemption of preferred stock and partnership units | 0 | 0 | (325,000) |
Distributions to limited partners in consolidated partnerships, net | (3,367) | (4,526) | (8,139) |
Distributions to exchangeable operating partnership unit holders | (1,051) | (777) | (635) |
Dividends paid to common stockholders/ Distributions to partners | (390,598) | (375,978) | (322,650) |
Dividends paid to preferred stockholders/ Distributions to preferred unit holders | 0 | 0 | (5,029) |
Repayment of fixed rate unsecured notes | (250,000) | (150,000) | 0 |
Proceeds from issuance of fixed rate unsecured notes, net | 723,571 | 299,511 | 953,115 |
Proceeds from unsecured credit facilities | 560,000 | 575,000 | 1,100,000 |
Repayment of unsecured credit facilities | (785,000) | (490,000) | (755,000) |
Proceeds from notes payable | 0 | 1,740 | 131,069 |
Repayment of notes payable | (55,680) | (113,037) | (232,839) |
Scheduled principal payments | (9,442) | (9,964) | (10,162) |
Payment of loan costs | (7,019) | (9,448) | (13,271) |
Early redemption costs | (10,647) | (10,491) | (12,420) |
Net cash (used in) provided by financing activities | (268,206) | (508,494) | 568,948 |
Net increase (decrease) in cash, cash equivalents, and restricted cash | 70,372 | (4,191) | 31,502 |
Cash, cash equivalents, and restricted cash at beginning of the year | 45,190 | 49,381 | 17,879 |
Cash, cash equivalents, and restricted cash at end of the year | 115,562 | 45,190 | 49,381 |
Supplemental disclosure of cash flow information: | |||
Cash paid for interest (net of capitalized interest of $4,192, $7,020, and $7,946 in 2019, 2018, and 2017, respectively) | 136,139 | 136,645 | 109,956 |
Cash paid (received) for income taxes, net of refunds | 1,225 | 5,455 | (269) |
Supplemental disclosure of non-cash transactions: | |||
Exchangeable operating partnership units issued for acquisition of real estate | 25,870 | 13,100 | |
Mortgage loans for the acquisition of real estate | 26,152 | 9,700 | 27,000 |
Change in fair value of securities | 660 | (206) | (8) |
Change in accrued capital expenditures | 10,704 | ||
Common stock issued under dividend reinvestment plan | 1,429 | 1,333 | 1,210 |
Stock-based compensation capitalized | 2,325 | 3,509 | 3,210 |
Contributions from limited partners in consolidated partnerships, net | 66 | 13,000 | 186 |
Common stock issued for dividend reinvestment in trust | 987 | 841 | 557 |
Contribution of stock awards into trust | 2,582 | 1,314 | 1,372 |
Distribution of stock held in trust | 197 | 524 | 677 |
Partnership Interest [Member] | |||
Cash flows from operating activities: | |||
Net income | 243,258 | 252,325 | 178,980 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation and amortization | 374,283 | 359,688 | 334,201 |
Amortization of deferred loan costs and debt premiums | 11,170 | 10,476 | 9,509 |
(Accretion) and amortization of above and below market lease intangibles, net | (43,867) | (33,330) | (23,144) |
Stock-based compensation, net of capitalization | 14,339 | 13,635 | 20,549 |
Equity in income of investments in real estate partnerships | (60,956) | (42,974) | (43,341) |
Gain on sale of real estate, net of tax | (24,242) | (28,343) | (27,432) |
Provision for impairment, net of tax | 54,174 | 38,437 | 0 |
Early extinguishment of debt | 11,982 | 11,172 | 12,449 |
Distribution of earnings from investments in real estate partnerships | 56,297 | 54,266 | 53,502 |
Settlement of derivative instrument | (6,870) | 0 | 76 |
Deferred compensation expense | 5,169 | (1,085) | 3,844 |
Realized and unrealized gain on investments | (5,433) | 1,177 | (3,837) |
Deferred income tax benefit of taxable REIT subsidiary | 0 | 0 | (9,737) |
Changes in assets and liabilities: | |||
Tenant and other receivables | (4,690) | (26,374) | (26,081) |
Deferred leasing costs | (6,777) | (8,366) | (14,448) |
Other assets | (1,570) | (1,410) | 9,536 |
Accounts payable and other liabilities | 4,175 | (760) | (2,114) |
Tenants’ security, escrow deposits and prepaid rent | 829 | 11,793 | (2,728) |
Net cash provided by operating activities | 621,271 | 610,327 | 469,784 |
Cash flows from investing activities: | |||
Acquisition of operating real estate | (222,444) | (85,289) | (124,727) |
Advance deposits paid toward the acquisition of operating real estate | (125) | 0 | (4,917) |
Acquisition of Equity One, net of cash and restricted cash acquired of $74,507 | 0 | 0 | (646,790) |
Real estate development and capital improvements | (200,012) | (226,191) | (346,857) |
Proceeds from sale of real estate investments | 137,572 | 250,445 | 110,015 |
Proceeds from property insurance casualty claims | 9,350 | 0 | 0 |
(Issuance)/Collection of notes receivable | (547) | 15,648 | (5,236) |
Investments in real estate partnerships | (66,921) | (74,238) | (23,529) |
Return of capital from investments in real estate partnerships | 63,693 | 14,647 | 36,603 |
Dividends on investment securities | 660 | 531 | 365 |
Acquisition of investment securities | (23,458) | (23,164) | (23,535) |
Proceeds from sale of investment securities | 19,539 | 21,587 | 21,378 |
Net cash used in investing activities | (282,693) | (106,024) | (1,007,230) |
Cash flows from financing activities: | |||
Net proceeds from common units issued as a result of common stock issued by Parent Company | 0 | 0 | 88,458 |
Repurchase of common shares/units in conjunction with tax withholdings on equity award plans | (6,204) | (6,772) | (18,649) |
Proceeds from sale of treasury stock | 9 | 99 | 100 |
Common shares repurchased through share repurchase program | (32,778) | (213,851) | 0 |
Redemption of preferred stock and partnership units | 0 | 0 | (325,000) |
Distributions to limited partners in consolidated partnerships, net | (3,367) | (4,526) | (8,139) |
Dividends paid to common stockholders/ Distributions to partners | (391,649) | (376,755) | (323,285) |
Dividends paid to preferred stockholders/ Distributions to preferred unit holders | 0 | 0 | (5,029) |
Repayment of fixed rate unsecured notes | (250,000) | (150,000) | 0 |
Proceeds from issuance of fixed rate unsecured notes, net | 723,571 | 299,511 | 953,115 |
Proceeds from unsecured credit facilities | 560,000 | 575,000 | 1,100,000 |
Repayment of unsecured credit facilities | (785,000) | (490,000) | (755,000) |
Proceeds from notes payable | 0 | 1,740 | 131,069 |
Repayment of notes payable | (55,680) | (113,037) | (232,839) |
Scheduled principal payments | (9,442) | (9,964) | (10,162) |
Payment of loan costs | (7,019) | (9,448) | (13,271) |
Early redemption costs | (10,647) | (10,491) | (12,420) |
Net cash (used in) provided by financing activities | (268,206) | (508,494) | 568,948 |
Net increase (decrease) in cash, cash equivalents, and restricted cash | 70,372 | (4,191) | 31,502 |
Cash, cash equivalents, and restricted cash at beginning of the year | 45,190 | 49,381 | 17,879 |
Cash, cash equivalents, and restricted cash at end of the year | 115,562 | 45,190 | 49,381 |
Supplemental disclosure of cash flow information: | |||
Cash paid for interest (net of capitalized interest of $4,192, $7,020, and $7,946 in 2019, 2018, and 2017, respectively) | 136,139 | 136,645 | 109,956 |
Cash paid (received) for income taxes, net of refunds | 1,225 | 5,455 | (269) |
Supplemental disclosure of non-cash transactions: | |||
Exchangeable operating partnership units issued for acquisition of real estate | 25,870 | 13,100 | |
Mortgage loans for the acquisition of real estate | 26,152 | 9,700 | 27,000 |
Change in accrued capital expenditures | 10,704 | ||
Common stock issued under dividend reinvestment plan | 1,429 | 1,333 | 1,210 |
Stock-based compensation capitalized | 2,325 | 3,509 | 3,210 |
Contributions from limited partners in consolidated partnerships, net | 66 | 13,000 | 186 |
Common stock issued for dividend reinvestment in trust | 987 | 841 | 557 |
Contribution of stock awards into trust | 2,582 | 1,314 | 1,372 |
Distribution of stock held in trust | 197 | 524 | 677 |
Change in fair value of securities available-for-sale | 660 | (206) | (8) |
Equity One Inc. [Member] | |||
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Stock-based compensation, net of capitalization | $ 0 | $ 0 | 7,931 |
Equity One Inc. [Member] | Partnership Interest [Member] | |||
Supplemental disclosure of non-cash transactions: | |||
Mortgage loans for the acquisition of real estate | 757,399 | ||
Common stock exchanged for Equity One shares | $ 4,471,808 |
Consolidated Statements of Ca_2
Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Cash and restricted cash acquired | $ 74,507 | $ 74,507 | $ 74,507 |
Capitalized interest | 4,192 | 7,020 | 7,946 |
Partnership Interest [Member] | |||
Cash and restricted cash acquired | 74,507 | 74,507 | 74,507 |
Capitalized interest | $ 4,192 | $ 7,020 | $ 7,946 |
Consolidated Statement of Chang
Consolidated Statement of Changes in Partner Capital Statement - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Adjustment due to change inaccounting policy (note 1) | $ 30,903 | ||
Net income | $ 243,258 | 252,325 | $ 178,980 |
Other comprehensive income | |||
Amounts reclassified from accumulated other comprehensive income | 3,269 | 5,342 | 11,103 |
Contributions from partners | 2,151 | 13,000 | 13,478 |
Issuance of exchangeable operating partnership units | 25,870 | ||
Distributions to partners | (5,518) | (4,526) | (8,206) |
Preferred stock/unit | (5,029) | ||
Restricted stock issued, net of amortization | 16,254 | 16,745 | 15,295 |
Preferred stock redemptions | 325,000 | ||
Total Stockholders' Equity [Member] | |||
Adjustment due to change inaccounting policy (note 1) | 30,901 | ||
Net income | 239,430 | 249,127 | 176,077 |
Other comprehensive income | |||
Amounts reclassified from accumulated other comprehensive income | 3,318 | 5,314 | 10,931 |
Reallocation of limited partners' interest | (66) | (72) | |
Preferred stock/unit | (5,029) | ||
Restricted stock issued, net of amortization | 16,254 | 16,745 | 15,295 |
Preferred stock redemptions | 325,000 | ||
Equity One Inc. [Member] | |||
Other comprehensive income | |||
Restricted stock issued, net of amortization | 7,951 | ||
Equity One Inc. [Member] | Total Stockholders' Equity [Member] | |||
Other comprehensive income | |||
Restricted stock issued, net of amortization | 7,951 | ||
Partnership Interest [Member] | |||
Beginning Balance | 6,450,168 | 6,733,054 | 2,624,502 |
Adjustment due to change inaccounting policy (note 1) | 30,903 | ||
Adjusted balance | 6,763,957 | ||
Net income | 243,258 | 252,325 | 178,980 |
Other comprehensive income | |||
Other comprehensive income before reclassifications | (15,270) | 307 | 1,143 |
Amounts reclassified from accumulated other comprehensive income | 3,269 | 5,342 | 11,103 |
Deferred compensation plan, net | 0 | (13) | (9) |
Contributions from partners | 2,151 | 13,000 | 13,478 |
Issuance of exchangeable operating partnership units | 25,870 | ||
Distributions to partners | (398,596) | (382,614) | (332,701) |
Reallocation of limited partners' interest | 0 | 0 | |
Preferred stock/unit | (5,029) | ||
Restricted stock issued, net of amortization | 16,254 | 16,745 | 15,295 |
Preferred stock redemptions | (325,000) | ||
Common units repurchased and retired as a result of common stock repurchased and retired by Parent Company | (32,778) | (213,851) | |
Common units issued as a result of common stock issued by Parent Company, net of repurchases | (4,365) | (5,030) | 4,543,341 |
Ending Balance | 6,289,961 | 6,450,168 | 6,733,054 |
Partnership Interest [Member] | Total Stockholders' Equity [Member] | |||
Beginning Balance | 6,408,636 | 6,702,959 | 2,589,334 |
Adjustment due to change inaccounting policy (note 1) | 30,901 | ||
Adjusted balance | 6,733,860 | ||
Net income | 240,064 | 249,652 | 176,465 |
Other comprehensive income | |||
Other comprehensive income before reclassifications | (14,419) | 36 | 1,128 |
Amounts reclassified from accumulated other comprehensive income | 3,330 | 5,325 | 10,950 |
Deferred compensation plan, net | 0 | (13) | (9) |
Contributions from partners | 0 | 0 | 13,100 |
Issuance of exchangeable operating partnership units | 25,870 | ||
Distributions to partners | (393,078) | (378,088) | (324,495) |
Reallocation of limited partners' interest | (66) | (72) | |
Preferred stock/unit | (5,029) | ||
Restricted stock issued, net of amortization | 16,254 | 16,745 | 15,295 |
Preferred stock redemptions | (325,000) | ||
Common units repurchased and retired as a result of common stock repurchased and retired by Parent Company | (32,778) | (213,851) | |
Common units issued as a result of common stock issued by Parent Company, net of repurchases | (4,365) | (5,030) | 4,543,341 |
Ending Balance | 6,249,448 | 6,408,636 | 6,702,959 |
Partnership Interest [Member] | Equity One Inc. [Member] | |||
Other comprehensive income | |||
Restricted stock issued, net of amortization | 7,951 | ||
Partnership Interest [Member] | Equity One Inc. [Member] | Total Stockholders' Equity [Member] | |||
Other comprehensive income | |||
Restricted stock issued, net of amortization | 7,951 | ||
Partnership Interest [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | |||
Beginning Balance | (927) | (6,289) | (18,346) |
Adjustment due to change inaccounting policy (note 1) | 12 | ||
Adjusted balance | (6,277) | ||
Net income | 0 | 0 | 0 |
Other comprehensive income | |||
Other comprehensive income before reclassifications | (14,388) | 36 | 1,126 |
Amounts reclassified from accumulated other comprehensive income | 3,318 | 5,314 | 10,931 |
Deferred compensation plan, net | 0 | 0 | 0 |
Contributions from partners | 0 | 0 | 0 |
Issuance of exchangeable operating partnership units | 0 | ||
Distributions to partners | 0 | 0 | 0 |
Reallocation of limited partners' interest | 0 | 0 | |
Preferred stock/unit | 0 | ||
Restricted stock issued, net of amortization | 0 | 0 | 0 |
Preferred stock redemptions | 0 | ||
Common units repurchased and retired as a result of common stock repurchased and retired by Parent Company | 0 | 0 | |
Common units issued as a result of common stock issued by Parent Company, net of repurchases | 0 | 0 | 0 |
Ending Balance | (11,997) | (927) | (6,289) |
Partnership Interest [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Equity One Inc. [Member] | |||
Other comprehensive income | |||
Restricted stock issued, net of amortization | 0 | ||
Partnership Interest [Member] | Noncontrolling Interest [Member] | |||
Beginning Balance | 41,532 | 30,095 | 35,168 |
Adjustment due to change inaccounting policy (note 1) | 2 | ||
Adjusted balance | 30,097 | ||
Net income | 3,194 | 2,673 | 2,515 |
Other comprehensive income | |||
Other comprehensive income before reclassifications | (851) | 271 | 15 |
Amounts reclassified from accumulated other comprehensive income | (61) | 17 | 153 |
Deferred compensation plan, net | 0 | 0 | 0 |
Contributions from partners | 2,151 | 13,000 | 378 |
Issuance of exchangeable operating partnership units | 0 | ||
Distributions to partners | (5,518) | (4,526) | (8,206) |
Reallocation of limited partners' interest | 66 | 72 | |
Preferred stock/unit | 0 | ||
Restricted stock issued, net of amortization | 0 | 0 | 0 |
Preferred stock redemptions | 0 | ||
Common units repurchased and retired as a result of common stock repurchased and retired by Parent Company | 0 | 0 | |
Common units issued as a result of common stock issued by Parent Company, net of repurchases | 0 | 0 | 0 |
Ending Balance | 40,513 | 41,532 | 30,095 |
Partnership Interest [Member] | Noncontrolling Interest [Member] | Equity One Inc. [Member] | |||
Other comprehensive income | |||
Restricted stock issued, net of amortization | 0 | ||
Partnership Interest [Member] | General Partner [Member] | |||
Beginning Balance | 6,398,897 | 6,698,341 | 2,609,647 |
Adjustment due to change inaccounting policy (note 1) | 30,889 | ||
Adjusted balance | 6,729,230 | ||
Net income | 239,430 | 249,127 | 176,077 |
Other comprehensive income | |||
Other comprehensive income before reclassifications | 0 | 0 | 0 |
Amounts reclassified from accumulated other comprehensive income | 0 | 0 | 0 |
Deferred compensation plan, net | 0 | (13) | (9) |
Contributions from partners | 0 | 0 | 0 |
Issuance of exchangeable operating partnership units | 0 | ||
Distributions to partners | (392,027) | (377,311) | (323,860) |
Reallocation of limited partners' interest | (66) | (72) | |
Preferred stock/unit | (5,029) | ||
Restricted stock issued, net of amortization | 16,254 | 16,745 | 15,295 |
Preferred stock redemptions | (325,000) | ||
Common units repurchased and retired as a result of common stock repurchased and retired by Parent Company | (32,778) | (213,851) | |
Common units issued as a result of common stock issued by Parent Company, net of repurchases | (4,365) | (5,030) | 4,543,341 |
Ending Balance | 6,225,345 | 6,398,897 | 6,698,341 |
Partnership Interest [Member] | General Partner [Member] | Equity One Inc. [Member] | |||
Other comprehensive income | |||
Restricted stock issued, net of amortization | 7,951 | ||
Partnership Interest [Member] | Limited Partner [Member] | |||
Beginning Balance | 10,666 | 10,907 | (1,967) |
Adjustment due to change inaccounting policy (note 1) | 0 | ||
Adjusted balance | 10,907 | ||
Net income | 634 | 525 | 388 |
Other comprehensive income | |||
Other comprehensive income before reclassifications | (31) | 0 | 2 |
Amounts reclassified from accumulated other comprehensive income | 12 | 11 | 19 |
Deferred compensation plan, net | 0 | 0 | 0 |
Contributions from partners | 0 | 0 | 13,100 |
Issuance of exchangeable operating partnership units | 25,870 | ||
Distributions to partners | (1,051) | (777) | (635) |
Reallocation of limited partners' interest | 0 | 0 | |
Preferred stock/unit | 0 | ||
Restricted stock issued, net of amortization | 0 | 0 | 0 |
Preferred stock redemptions | 0 | ||
Common units repurchased and retired as a result of common stock repurchased and retired by Parent Company | 0 | 0 | |
Common units issued as a result of common stock issued by Parent Company, net of repurchases | 0 | 0 | 0 |
Ending Balance | $ 36,100 | $ 10,666 | 10,907 |
Partnership Interest [Member] | Limited Partner [Member] | Equity One Inc. [Member] | |||
Other comprehensive income | |||
Restricted stock issued, net of amortization | $ 0 |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2019 | |
Organization Consolidation And Presentation Of Financial Statements [Abstract] | |
Summary of Significant Accounting Policies | REGENCY CENTERS CORPORATION AND REGENCY CENTERS, L.P. Notes to Consolidated Financial Statements December 31, 2019 1. Summary 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, has no other assets other than through its investment in the Operating Partnership, and its only liabilities are $500 million of unsecured public and 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, 2019, the Parent Company, the Operating Partnership, and their controlled subsidiaries on a consolidated basis (the “Company” or “Regency”) owned 303 properties and held partial interests in an additional 116 properties through unconsolidated Investments in real estate partnerships (also referred to as “joint ventures” or “co-investment partnerships”). On March 1, 2017, Regency completed its merger with Equity One, whereby Equity One merged with and into Regency, with Regency continuing as the surviving public company. Estimates, Risks, and Uncertainties 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, collectability of accounts receivable and straight line rent receivable, goodwill, and acquired lease intangible assets and acquired lease intangible 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. 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 interest. Investments in real estate partnerships not controlled by the Company are accounted for under the equity method. All significant inter-company balances and transactions are eliminated in the consolidated financial statements. The Company consolidates properties that are wholly owned or properties where it owns less than 100%, but which it 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 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 outstanding. Ownership of the Operating Partnership The Operating Partnership's capital includes general and limited common Partnership Units. As of December 31, 2019, the Parent Company owned approximately 99.6%, or 167,571,218, of the 168,317,651 Real Estate Partnerships Regency has a partial ownership interest in 127 properties through partnerships, of which 11 are consolidated. Regency's partners include institutional investors, other real estate developers and/or operators. Regency has a variable interest in these entities through its equity interests. As managing member, Regency maintains the books and records and typically provides leasing and property management to the partnerships. The Partners’ level of involvement in these partnerships varies from protective decisions (debt, bankruptcy, selling primary asset(s) of business) to involvement in approving leases, operating budgets, and capital budgets. The assets of these partnerships are restricted to the use of the partnerships and cannot be used by general creditors of the Company. And similarly, the obligations of these partnerships can only be settled by the assets of these partnerships or additional contributions by the partners. • 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 has a controlling financial interest are consolidated and the limited partners’ ownership interest and share of net income is recorded as noncontrolling interest. o Those partnerships in which Regency does not have a controlling financial interest are accounted for using the equity method 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. Distributed proceeds from debt refinancing and real estate sales in excess of Regency's carrying value of its investment has resulted in a negative investment balance for one partnership, which 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 in lives from 10 to 40 years. • Those partnerships for which the Partners only have protective rights are considered VIEs under ASC Topic 810, Consolidation . Regency is the primary beneficiary of these VIEs as Regency has power over these partnerships and they operate primarily for the benefit of Regency. As such, Regency consolidates these entities and reports the limited partners’ interest as noncontrolling interests. 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, 2019 December 31, 2018 Assets Net real estate investments $ 325,464 112,085 Cash, cash equivalents, and restricted cash 57,269 7,309 Liabilities Notes payable 17,740 18,432 Equity Limited partners’ interests in consolidated partnerships 30,655 30,280 Noncontrolling Interests 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 stockholders of the Parent Company: (i) the limited Partnership Units in the Operating Partnership held by third parties (“Exchangeable operating partnership 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 stockholders' 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. In accordance with ASC Topic 480, Distinguishing Liabilities from Equity Limited partners' interests in consolidated partnerships are not redeemable by the holders. 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 agreement, the Company generally has the right, but not the obligation, to purchase the other member’s 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 designated 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”). Percentage rents 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, insurance and common area maintenance (“CAM”) costs (collectively “Recoverable Costs”) incurred. Lease terms generally range from three to seven years for tenant space under 10,000 square feet (“Shop Space”) and in excess of five years for spaces greater than 10,000 square feet (“Anchor Tenants”). Many leases also provide the option for the tenants 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 so it can be 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 of the life of the subsequent lease or the life of the improvement. On January 1, 2019, the Company adopted the new accounting guidance in Accounting Standards Codification (“ASC”) Topic 842, Leases, • Package of practical expedients is applied to all leases, allowing the Company not to reassess (i) whether expired or existing contracts contain leases under the new definition of a lease, (ii) lease classification for expired or existing leases, and (iii) whether previously capitalized initial direct costs would qualify for capitalization under Topic 842; • For land easements, the Company elected not to assess at transition whether any expired or existing land easements are, or contain, leases if they were not previously accounted for as leases under the previous lease accounting standard (Topic 840); • Lessor separation and allocation practical expedient - Regency elected, as lessor, to aggregate non-lease components with the related lease component if certain conditions are met, and account for the combined component based on its predominant characteristic, which generally results in combining lease and non-lease components of its tenant lease contracts to a single line shown as Lease income in the accompanying Consolidated Statements of Operations; and • The Company made an accounting policy election to continue to exclude, from contract consideration, sales tax (and similar taxes) collected from lessees. The Company's existing leases were not re-evaluated and continue to be classified as operating leases, as per the practical expedient package elected above. New and modified leases will now require evaluation of specific classification criteria, which, based on the customary terms of the Company's leases, should continue to be 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, 2019, all of the Company’s leases were classified as operating leases. CAM is a non-lease component of the lease contract under Topic 842, and therefore would be accounted for under Topic 606, Revenue from Contracts with Customers 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 at the commencement date. At lease commencement, the Company generally expects that collectibility 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 uncollectible Lease income is reversed in the period in which the Lease income is determined not to be probable of collection. In additio n to the lease-specific collecti bility assessment performed under Topic 842, the Company also recognizes 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 his torical collection experience. The following table represents the components of Tenant and other receivables in the accompanying Consolidated Balance Sheets: December 31, (in thousands) 2019 2018 Billed tenant receivables $ 24,906 25,590 Accrued CAM, insurance and tax reimbursements 10,620 25,305 Other receivables 26,724 30,953 Straight-line rent receivables 107,087 105,677 Less: allowance for doubtful accounts (1) — (10,100 ) Less: straight-line rent reserves (1) — (5,066 ) Total tenant and other receivables, net $ 169,337 172,359 (1) Beginning with the adoption of ASC 842, Leases, on January 1, 2019, uncollectible lease income is a direct charge against Lease income and the related receivable. Prior to 2019, uncollectible lease income was recorded as Provision for doubtful accounts included in Other operating expenses. The Company estimates the collectibility of the accounts receivable related to base rents, straight-line rents, expense reimbursements, and other revenue taking into consideration the Company's historical write-off experience, tenant credit-worthiness, current economic trends, and remaining lease terms. Beginning with the adoption of ASC 842, Leases, on January 1, 2019, uncollectible lease income is a direct charge against Lease income. Prior to 2019, uncollectible lease income was recorded as Provision for doubtful accounts included in Other operating expenses and Provision for straight line rent reserve included as a charge to Lease income. The Company recorded the following provisions for doubtful accounts: Year ended December 31, (in thousands) 2018 2017 Gross provision for doubtful accounts 4,993 3,992 Provision for straight line rent reserve 1,741 1,129 Real Estate Sales On January 1, 2018, the Company adopted the new accounting guidance for sales of nonfinancial assets (“Subtopic 610-20”). Beginning January 1, 2018, the Company derecognizes real estate and recognizes a gain or loss on sales of real estate 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. Any retained noncontrolling interest is measured at fair value. This change in accounting policy resulted in the recognition, through opening retained Prior to January 1, 2018, the Company recognized profits from sales of real estate under the full accrual method by the Company when: (i) a sale was consummated; (ii) the buyer's initial and continuing investment was adequate to demonstrate a commitment to pay for the property; (iii) the Company's receivable, if applicable, was not subject to future subordination; (iv) the Company had transferred to the buyer the usual risks and rewards of ownership; and (v) the Company did not have substantial continuing involvement with the property. Management Services On January 1, 2018, the Company adopted the new accounting guidance for revenue recognition (Topic 606 Revenue from Contracts with Customers Subsequent to the adoption of Topic 606, the Company recognizes revenue 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 management, 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 manager. The terms of these promotes are based on appreciation in real estate value over designated time intervals. 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. The Company did not recognize any promote revenue during the years ended December 31, 2019, 2018, or 2017. 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 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, net, within the Consolidated Balance Sheets. All income from management service contracts is included within Management, transaction and other fees on the Consolidated Statements of Operations. Additionally, Other property income, which includes incidental income from the properties, is generally recognized at the point in time that the performance obligation is met. The primary components of these revenue streams, the timing of satisfying the performance obligations, and amounts recognized are as follows: Year ended December 31, (in thousands) Timing of satisfaction of performance obligations 2019 2018 2017 Other property income Point in time $ 9,201 8,711 7,982 Management, transaction, and other fees: Property management services Over time 14,744 14,663 13,917 Asset management services Over time 7,135 7,213 7,090 Leasing services Point in time 3,692 4,044 3,573 Other transaction fees Point in time 4,065 2,574 1,578 Total management, transaction, and other fees $ 29,636 28,494 26,158 The accounts receivable for management services, which is included within Tenant and other receivables in the accompanying Consolidated Balance Sheets, are $11.6 million and $12.5 million, as of December 31, 2019 and 2018. (c) Real Estate Investments The following table details the components of Real estate assets in the Consolidated Balance Sheets: (in thousands) December 31, 2019 December 31, 2018 Land $ 4,288,695 $ 4,205,445 Land improvements 607,624 613,847 Buildings 5,101,061 5,088,102 Building and tenant improvements 946,034 901,596 Construction in progress 151,880 54,172 Total real estate assets $ 11,095,294 10,863,162 Capitalization and Depreciation Maintenance and repairs that do not improve or extend the useful lives of the respective assets are recorded in operating and maintenance expense. As part of the leasing process, the Company may provide the lessee with an allowance 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 subject to a maximum of 10 years for tenant improvements, and three to seven years for furniture and equipment. Development and Redevelopment Costs Land, buildings, and improvements are recorded at cost. 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, development / redevelopment costs, construction costs, interest costs, real estate taxes, and allocated direct employee costs incurred during the period of development or redevelopment. 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 expended. The Company discontinues interest and real estate tax capitalization when the property 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 the project beyond 12 months after substantial completion of the building shell. 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, 2019 and 2018, the Company had nonrefundable deposits and other pre development costs of approximately $17.7 million and $10.6 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, 2019, 2018, and 2017, the Company expensed pre-development costs of approximately $2.5 million, $1.9 million, and $1.5 million, respectively, in Other operating expenses in the accompanying Consolidated Statements of Operations. Acquisitions Through June 30, 2017, the Company and its real estate partnerships accounted for operating property acquisitions as business combinations using the acquisition method. Effective July 1, 2017, upon the adoption of Accounting Standards Update (“ASU”) 2017-01: Business Combinations (Topic 805) - Clarifying the Definition of a Business 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 fair 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 Held for Sale The Company classifies land, an operating property, or a property in development as held-for-sale upon satisfaction of 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. Properties held-for-sale are carried at the lower of cost or fair value less costs to sell. Impairment We evaluate whether there are any indicators, including property operating performance and general market conditions, that the value of the real estate properties (including any related amortizable intangible assets or liabilities) may not be recoverable. For those properties with such indicators, management evaluates recoverability of the property's carrying amount. Through the evaluation, we compare the current carrying value of the asset to the estimated undiscounted cash flows that are directly associated with the use and ultimate disposition of the asset. Our estimated cash flows are based on several key assumptions, including rental rates, expected leasing activity, costs of tenant improvements, leasing commissions, anticipated 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 our disposition strategy or changes in the marketplace 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. To the extent that the carrying value of the asset exceeds the estimated undiscounted cash flows, an impairment loss is recognized equal to the excess of carrying value over fair value. If such indicators are not identified, management will not assess the recoverability of a property's carrying value. If a property previously classified as h eld 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 fair value of real estate assets is subjective and is determined 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. Such cash flow projections consider factors such as expected future operating income, trends and prospects, as well as the effects of demand, competition and other factors, and therefore is subject to management judgment and changes in those factors could impact the determination of fair value. In estimating the fair value of undeveloped land, the Company generally uses market data and comparable sales information. A loss in value of investments in real estate partnerships under the equity method of accounting, other than a temporary decline, must be recognized in the period in which the loss occurs. If management identifies indicators that the value of the Company's investment in real estate partnerships may be impaired, it evaluates the investment by calculating the fair value of the investment by discounting estimated future cash flows over the expected term of the investment. Tax Basis The net book basis of the Company's real estate assets exceeds the net tax basis by approximately $ |
Real Estate Investments
Real Estate Investments | 12 Months Ended |
Dec. 31, 2019 | |
Business Combinations [Abstract] | |
Real Estate Investments | 2. Real Estate Investments Acquisitions The following tables detail the shopping centers acquired or land acquired for development or redevelopment: (in thousands) December 31, 2019 Date Purchased Property Name City/State Property Type Purchase Price Debt Assumed, Net of Premiums Intangible Assets Intangible Liabilities 1/8/2019 Pablo Plaza (1) Jacksonville, FL Operating $ 600 — — — 2/8/2019 Melrose Market Seattle, WA Operating 15,515 — 941 358 6/18/2019 The Field at Commonwealth Ph II (2) Chantilly, VA Development 4,083 — — — 6/21/2019 Culver Public Market Culver City, CA Development 1,279 — — — 6/28/2019 6401 Roosevelt Seattle, WA Operating 3,550 — — — 7/1/2019 The Pruneyard Campbell, CA Operating 212,500 — 16,991 5,833 9/17/2019 Circle Marina Center Long Beach, CA Operating 50,000 — 3,717 962 Total property acquisitions $ 287,527 — 21,649 7,153 (1) The Company purchased a land parcel adjacent to the Company’s existing operating Pablo Plaza for redevelopment. (2) The Company purchased The Field at Commonwealth Ph II, which is land adjacent to an existing operating property, for future development. (in thousands) December 31, 2018 Date Purchased Property Name City/State Property Type Purchase Price Debt Assumed, Net of Premiums Intangible Assets Intangible Liabilities 01/10/18 Hewlett Crossing I & II Hewlett, NY Operating $ 30,900 9,700 3,114 1,868 04/03/18 Rivertowns Square Dobbs Ferry, NY Operating 68,933 — 4,993 5,554 12/14/18 Pablo Plaza (1) Jacksonville, FL Operating 1,310 — — — 12/27/18 The Village at Hunter's Lake Tampa, FL Development 1,812 — — — 12/31/18 Carytown Exchange (2) Richmond, VA Development 13,284 — 264 — Total property acquisitions $ 116,239 9,700 8,371 7,422 (1) The Company purchased a 5,000 square foot building adjacent to the Company's existing operating Pablo Plaza for redevelopment. (2) The Company closed on the Carytown Exchange development, with a partner contributing land valued at $13 million which is recorded within Limited partners' interest in consolidated partnerships in the accompanying Consolidated Balance Sheets. Equity One Merger General On March 1, 2017, Regency completed its merger with Equity One, a NYSE listed shopping center company, whereby Equity One merged with and into Regency, with Regency continuing as the surviving public company. Under the terms of the Merger Agreement, each Equity One stockholder received 0.45 of a newly issued share of Regency common stock for each share of Equity One common stock owned immediately prior to the effective time of the merger resulting in approximately 65.5 million Regency common shares being issued to effect the merger, with a total purchase price of $5.2 billion. As part of the merger, Regency acquired 121 properties, including 8 properties held through co-investment partnerships. The consolidated net assets and results of operations of Equity One are included in the consolidated financial statements from the closing date, March 1, 2017, going forward and resulted in the following impact to Revenues and Net income attributable to common stockholders: (in thousands) Year ended December 31, 2017 Increase in total revenues $ 337,761 Increase in net income attributable to common stockholders $ 81,766 The Company incurred $80.7 million of merger-related transaction costs during the year ended December 31, 2017, which is recorded in Other operating expenses in the accompanying Consolidated Statements of Operations. Pro forma Information The following unaudited pro forma financial data includes the incremental revenues, operating expenses, depreciation and amortization, and costs of the Equity One acquisition as if it had occurred on January 1, 2016: (in thousands, except per share data) Year ended December 31, 2017 Total revenues $ 1,052,221 Income from operations (1) 281,393 Net income attributable to common stockholders (1) 262,270 Income per common share - basic 1.54 Income per common share - diluted 1.54 (1) The pro forma earnings for the year ended December 31, 2017, were adjusted to exclude $103.6 million of merger costs, as if they had occurred during 2016. The pro forma financial data is not necessarily indicative of what the actual results of operations would have been assuming the transaction had been completed as set forth above, nor does it purport to represent the results of operations for future periods. |
Property Dispositions
Property Dispositions | 12 Months Ended |
Dec. 31, 2019 | |
Discontinued Operations And Disposal Groups [Abstract] | |
Property Dispositions | 3. Property Dispositions Dispositions The following table provides a summary of consolidated shopping centers and land parcels disposed of during the periods set forth below: Year ended December 31, (in thousands, except number sold data) 2019 2018 2017 Net proceeds from sale of real estate investments $ 137,572 250,445 110,015 Gain on sale of real estate, net of tax $ 24,242 28,343 27,432 Provision for impairment of real estate sold $ 1,836 31,041 — Number of operating properties sold 7 10 6 Number of land parcels sold 6 9 9 At December 31, 2019, the Company also had one property classified as Properties held for sale on the Consolidated Balance Sheets, which sold in January 2020. |
Investments in Real Estate Part
Investments in Real Estate Partnerships | 12 Months Ended |
Dec. 31, 2019 | |
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, 2019 (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% 68 $ 187,597 1,612,459 43,536 96,721 New York Common Retirement Fund (NYC) (1) 30.00% 6 41,422 260,512 (9,967 ) (5,832 ) Columbia Regency Retail Partners, LLC (Columbia I) 20.00% 7 9,201 139,253 1,626 8,406 Columbia Regency Partners II, LLC (Columbia II) 20.00% 13 39,453 385,960 1,748 8,742 Cameron Village, LLC (Cameron) 30.00% 1 10,641 96,101 1,062 3,572 RegCal, LLC (RegCal) 25.00% 6 26,417 109,226 3,796 16,276 US Regency Retail I, LLC (USAA) (2) 20.01% 7 — 87,231 1,028 5,137 Other investments in real estate partnerships (3) 18.38% - 50.00% 8 154,791 468,142 18,127 38,182 Total investments in real estate partnerships 116 $ 469,522 3,158,884 60,956 171,204 (1) During the third quarter of 2019, a $10.9 million impairment of real estate was recognized within the NYC partnership from changes in the expected hold periods of various properties. (2) The USAA partnership has distributed proceeds from debt refinancing and real estate sales in excess of Regency’s carrying value of its investment resulting in a negative investment balance of $3.9 million, which is recorded within Accounts Payable and other liabilities in the Consolidated Balance Sheets. ( 3 ) Includes our investment in the Town and Country shopping center, which began with an initial 9.38% ownership percent in 2018, with an additional 9.0% interest acquired during 2019. In January 2020, we purchased our remaining 16.62% interest, bringing our total ownership interest to 35%. December 31, 2018 (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% 70 $ 189,381 1,646,448 29,614 74,139 New York Common Retirement Fund (NYC) 30.00% 6 54,250 277,626 490 2,239 Columbia Regency Retail Partners, LLC (Columbia I) 20.00% 7 13,625 141,807 1,311 6,650 Columbia Regency Partners II, LLC (Columbia II) 20.00% 13 38,110 377,121 4,673 23,367 Cameron Village, LLC (Cameron) 30.00% 1 11,169 98,633 943 3,177 RegCal, LLC (RegCal) 25.00% 7 31,235 139,844 1,542 6,167 US Regency Retail I, LLC (USAA) (1) 20.01% 7 — 89,524 937 4,685 Other investments in real estate partnerships 9.38% - 50.00% 9 125,231 456,828 3,464 8,661 Total investments in real estate partnerships 120 $ 463,001 3,227,831 42,974 129,085 ( 1 ) The summarized balance sheet information for the investments in real estate partnerships, on a combined basis, is as follows: December 31, (in thousands) 2019 2018 Investments in real estate, net $ 2,917,415 3,001,481 Acquired lease intangible assets, net 40,549 57,053 Other assets 200,920 169,297 Total assets $ 3,158,884 3,227,831 Notes payable $ 1,577,467 1,609,647 Acquired lease intangible liabilities, net 44,387 49,501 Other liabilities 96,388 90,577 Capital - Regency 508,875 498,852 Capital - Third parties 931,767 979,254 Total liabilities and capital $ 3,158,884 3,227,831 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) 2019 2018 Capital - Regency $ 508,875 498,852 Basis difference (43,296 ) (39,364 ) Negative investment in USAA (1) 3,943 3,513 Investments in real estate partnerships $ 469,522 463,001 (1) 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) 2019 2018 2017 Total revenues $ 417,053 414,631 396,596 Operating expenses: Depreciation and amortization 97,844 99,847 99,327 Operating and maintenance 65,811 66,299 58,283 General and administrative 6,201 5,697 5,582 Real estate taxes 53,410 54,119 49,904 Other operating expenses 2,709 2,700 4,574 Total operating expenses $ 225,975 228,662 217,670 Other expense (income): Interest expense, net 75,449 73,508 73,244 Gain on sale of real estate (64,798 ) (16,624 ) (34,276 ) Provision for impairment, net of tax 9,223 — — Total other expense (income) 19,874 56,884 38,968 Net income of the Partnerships $ 171,204 129,085 139,958 The Company's share of net income of the Partnerships $ 60,956 42,974 43,341 Acquisitions The following table provides a summary of shopping centers and land parcels acquired through our unconsolidated real estate partnerships, which had no such acquisitions in 2019: (in thousands) Year ended December 31, 2018 Date Purchased Property Name City/State Property Type Co-investment Partner Ownership % Purchase Price Debt Assumed, Net of Premiums Intangible Assets Intangible Liabilities 01/02/18 Ballard Blocks I Seattle, WA Operating Other 49.90 % $ 54,500 — 3,668 2,350 01/02/18 Ballard Blocks II Seattle, WA Development Other 49.90 % 4,000 — — — 01/05/18 The District at Metuchen Metuchen, NJ Operating Columbia II 20.00 % 33,830 — 3,147 1,905 05/18/18 Crossroads Commons II Boulder, CO Operating Columbia I 20.00 % 10,500 — 447 769 09/07/18 Ridgewood Shopping Center Raleigh, NC Operating Columbia II 20.00 % 45,800 10,233 3,372 2,278 12/17/18 Shoppes at Bartram Park Jacksonville, FL Operating (1) Other 50.00 % 984 — — — 12/14/18 Town and Country Center Los Angeles, CA Operating Other 9.38 % 197,248 90,000 3,255 5,650 Total property acquisitions $ 346,862 100,233 13,889 12,952 (1) Land parcels purchased as additions to the existing operating property. 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) 2019 2018 2017 Proceeds from sale of real estate investments $ 142,754 27,144 73,122 Gain on sale of real estate $ 64,798 16,624 34,276 The Company's share of gain on sale of real estate $ 29,422 3,608 6,591 Number of operating properties sold 4 1 3 Number of land out-parcels sold — 2 1 Notes Payable Scheduled principal repayments on notes payable held by our unconsolidated investments in real estate partnerships as of December 31, 2019 were as follows: (in thousands) Scheduled Principal Payments and Maturities by Year: Scheduled Principal Payments Mortgage Loan Maturities Unsecured Maturities Total Regency’s Pro-Rata Share 2020 $ 17,043 338,608 — 355,651 115,953 2021 11,048 269,942 19,635 300,625 104,375 2022 7,811 170,702 — 178,513 68,417 2023 2,989 171,608 — 174,597 65,096 2024 1,513 33,690 — 35,203 14,160 Beyond 5 Years 6,555 534,233 — 540,788 160,472 Net unamortized loan costs, debt premium / (discount) — (7,910 ) — (7,910 ) (2,425 ) Total notes payable $ 46,959 1,510,873 19,635 1,577,467 526,048 These fixed and variable rate loans are all non-recourse to the partnerships, and mature through 2034, with 91.4% having a weighted average fixed interest rate of 4.48%. The remaining notes payable float over LIBOR and had a weighted average variable interest rate of 3.95% at December 31, 2019. Maturing loans will be repaid from proceeds from refinancing, partner capital contributions, or a combination thereof. 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 co-investment partner was unable to fund its share of the capital requirements of the co-investment partnership, the Company would have the right, but not the obligation, to loan the defaulting partner the amount of its capital call. Management fee income In addition to earning our Pro-rata share of net income or loss in each of these co-investment partnerships, we receive fees, as follows: Year ended December 31, (in thousands) 2019 2018 2017 Asset management, property management, leasing, and investment and financing services $ 28,878 27,873 25,260 |
Other Assets Other Assets (Note
Other Assets Other Assets (Notes) | 12 Months Ended |
Dec. 31, 2019 | |
Other Assets [Abstract] | |
Other Assets | (e) Other Assets Goodwill Goodwill represents the excess of the purchase price consideration for the Equity One merger 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 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. 5. Other Assets The following table represents the components of Other assets in the accompanying Consolidated Balance Sheets: (in thousands) December 31, 2019 December 31, 2018 Goodwill $ 307,434 314,143 Investments 50,354 41,287 Prepaid and other 18,169 17,937 Derivative assets 2,987 17,482 Furniture, fixtures, and equipment, net 7,098 6,127 Deferred financing costs, net 4,687 6,851 Total other assets $ 390,729 403,827 The following table presents the goodwill balances and activity during the year to date periods ended: December 31, 2019 December 31, 2018 (in thousands) Goodwill Accumulated Impairment Losses Total Goodwill Accumulated Impairment Losses Total Beginning of year balance $ 316,858 (2,715 ) 314,143 331,884 — 331,884 Goodwill resulting from Equity One merger — — — 500 — 500 Goodwill allocated to Provision for impairment — (2,954 ) (2,954 ) — (12,628 ) (12,628 ) Goodwill allocated to Properties held for sale (2,472 ) — (2,472 ) (1,159 ) — (1,159 ) Goodwill associated with disposed reporting units: Goodwill allocated to Provision for impairment (1,779 ) 1,779 — (9,913 ) 9,913 — Goodwill allocated to Gain on sale of real estate (2,219 ) 936 (1,283 ) (4,454 ) — (4,454 ) End of year balance $ 310,388 (2,954 ) 307,434 316,858 (2,715 ) 314,143 During the year ended December 31, 2019, the Company recognized a $3.0 million provision for impairment of goodwill on two reporting units due to changes in the use and expected hold period of the operating properties. During the year ended December 31, 2018, the Company recognized $12.6 million provision for impairment of goodwill on ten reporting units 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, 2019 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |
Acquired Lease Intangible | 6. Acquired Lease Intangibles The Company had the following acquired lease intangibles: December 31, (in thousands) 2019 2018 In-place leases $ 438,188 $ 457,379 Above-market leases 63,944 57,294 Below-market ground leases (1) — 92,085 Total intangible assets $ 502,132 606,758 Accumulated amortization (259,310 ) (219,689 ) Acquired lease intangible assets, net $ 242,822 387,069 Below-market leases 558,936 $ 584,371 Above-market ground leases (1) — 5,101 Total intangible liabilities 558,936 589,472 Accumulated amortization (131,676 ) (92,746 ) Acquired lease intangible liabilities, net $ 427,260 496,726 (1) On January 1, 2019, the Company adopted the new accounting guidance in ASC Topic 842, Leases, The following table provides a summary of amortization and net accretion amounts from acquired lease intangibles: Year ended December 31, (in thousands) 2019 2018 2017 Line item in Consolidated Statements of Operations In-place lease amortization $ 60,250 76,649 88,284 Depreciation and amortization Above-market lease amortization 9,112 10,433 9,443 Lease income Below-market ground lease amortization (1) — 1,688 1,886 Operating and maintenance Acquired lease intangible asset amortization $ 69,362 88,770 99,613 Below-market lease amortization $ 54,730 45,561 34,786 Lease income Above-market ground lease amortization (1) — 94 136 Operating and maintenance Acquired lease intangible liability amortization $ 54,730 45,655 34,922 (1) On January 1, 2019, the Company adopted the new accounting guidance in ASC Topic 842, Leases, 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 December 31, Amortization of In-place lease intangibles Net accretion of Above / Below market lease intangibles 2020 42,998 $ 37,593 2021 32,551 24,120 2022 24,928 22,228 2023 19,682 21,379 2024 15,395 19,346 |
Leases
Leases | 12 Months Ended |
Dec. 31, 2019 | |
Leases [Abstract] | |
Lessor, Operating Leases | 7. Leases Lessor Accounting The Company's Lease income is comprised of both fixed and variable income, as follows: Fixed and in-substance fixed lease income includes stated amounts per the lease contract, which are primarily related to base rent, and in some cases stated amounts for CAM, real estate taxes, and insurance. 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 represents amounts which tenants are contractually obligated to reimburse the Company for the tenants’ portion of actual 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 under ASC Topic 842, Leases (in thousands) December 31, 2019 Operating lease income Fixed and in-substance fixed lease income $ 806,442 Variable lease income 247,861 Other lease related income, net: Above/below market rent and tenant rent inducement amortization 45,392 Uncollectible amounts in lease income (5,394 ) Total lease income $ 1,094,301 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, 2019 2020 $ 775,723 2021 706,016 2022 615,224 2023 511,104 2024 411,308 Thereafter 1,500,745 Total $ 4,520,120 (in thousands) For the year ended December 31, December 31, 2018 2019 $ 761,151 2020 693,848 2021 608,587 2022 516,369 2023 414,424 Thereafter 1,691,203 Total $ 4,685,582 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 22 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 2101, 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 expense is recognized on a straight-line basis over the term of the leases, including management's estimate of expected option renewal periods. Operating lease expense under the Company's ground and office leases was 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, 2019 Fixed operating lease expense Ground leases $ 13,982 Office leases 4,229 Total fixed operating lease expense 18,211 Vaiable lease expense Ground leases 1,693 Office leases 552 Total variable lease expense 2,245 Total lease expense $ 20,456 Cash paid for amounts included in the measurement of operating lease liabilities Operating cash flows for operating leases $ 14,815 Operating lease expense under the Company's ground and office leases was $20.5 million, $19.1 million and $18.4 million for the years ended December 31, 2019, 2018, and 2017 respectively, which includes fixed and variable rent expense. The following table summarizes the undiscounted future cash flows by year attributable to the operating lease liabilities under ground and office leases as of December 31, 2019, 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 2020 $ 10,697 5,152 15,849 2021 10,671 4,149 14,820 2022 10,698 3,188 13,886 2023 10,915 2,410 13,325 2024 10,964 1,939 12,903 Thereafter 553,116 4,404 557,520 Total undiscounted lease liabilities $ 607,061 21,242 628,303 Present value discount (403,237 ) (2,148 ) (405,385 ) Lease liabilities $ 203,824 19,094 222,918 Weighted average discount rate 5.2 % 3.9 % Weighted average remaining term (in years) 49.2 5.5 The following table summarizes the future obligations under non-cancelable operating leases, excluding unexercised renewal options, as of December 31, 2018: (in thousands) Future Lease Obligations For the year ended December 31, Ground Leases Office Leases Total 2019 $ 10,672 4,405 15,077 2020 10,439 4,294 14,733 2021 10,344 3,549 13,893 2022 10,258 2,893 13,151 2023 10,369 2,189 12,558 Thereafter 461,762 5,944 467,706 Total $ 513,844 23,274 537,118 |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2019 | |
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 (“TRS”) entities, which are subject to federal and state income taxes. The following table summarizes the tax status of dividends paid on our common shares: Year ended December 31, (in thousands) 2019 2018 2017 Dividend per share $ 2.34 2.22 2.10 Ordinary income 97 % 98 % 86 % Capital gain 3 % — % 10 % Return of capital — % — % 4 % Qualified dividend income — % 2 % — % Section 199A dividend 97 % 98 % — % Our consolidated expense (benefit) for income taxes for the years ended December 31, 2019, 2018, and 2017 was as follows: Year ended December 31, (in thousands) 2019 2018 2017 Income tax expense (benefit): Current $ 1,576 5,667 1,168 Deferred (331 ) (5,145 ) (10,815 ) Total income tax expense (benefit) (1) $ 1,245 522 (9,647 ) (1) Includes $757,000, $706,000 and $90,000 of tax expense presented within Other operating expenses during the years ended December 31, 2019, 2018, and 2017, respectively. Additionally, $488,000 and ($184,000) of tax expense (benefit) is presented within Gain on sale of real estate (or Provision for impairment), net of tax, during the years ended December 31, 2019 and 2018, respectively. 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) 2019 2018 2017 Computed expected tax expense (benefit) $ 1,587 (584 ) 1,190 State income tax, net of federal benefit 650 636 108 Valuation allowance (91 ) (392 ) (1,512 ) Tax rate change — — (9,737 ) Permanent items (819 ) 1,067 — All other items (82 ) (205 ) 304 Total income tax expense (benefit) (1) 1,245 522 (9,647 ) Income tax expense (benefit) attributable to operations (1) $ 1,245 522 (9,647 ) (1) Includes $757,000, $706,000, and $90,000 of tax expense presented within Other operating expenses during the years ended December 31, 2019, 2018, and 2017, respectively. Additionally, $488,000 and ($184,000) of tax expense (benefit) is presented within Gain on sale of real estate (or Provision for impairment), net of tax, during the years ended December 31, 2019 and 2018, respectively. 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) 2019 2018 Deferred tax assets Provision for impairment $ — 3,785 Deferred interest expense 1,341 2,617 Capitalized costs under Section 263A — 713 Net operating loss carryforward 106 166 Other 88 2,123 Deferred tax assets 1,535 9,404 Valuation allowance (680 ) (7,907 ) Deferred tax assets, net $ 855 1,497 Deferred tax liabilities Straight line rent $ (100 ) (565 ) Fixed assets (14,404 ) (14,829 ) Deferred tax liabilities (14,504 ) (15,394 ) Net deferred tax liabilities $ (13,649 ) (13,897 ) The net deferred tax liability decreased during 2019 primarily due to the depreciation of property at TRS entities. Also, during 2019, the Company converted one of its TRS entities to a REIT which resulted in the reversal of that entities’ deferred tax assets, liabilities, and valuation allowance. The Company believes it is more likely than not that a portion of the remaining deferred tax assets, which primarily consist of net operating losses and deferred interest expense, will not be realized unless tax planning strategies are implemented. |
Notes Payable and Unsecured Cre
Notes Payable and Unsecured Credit Facilities | 12 Months Ended |
Dec. 31, 2019 | |
Debt Disclosure [Abstract] | |
Notes Payable and Unsecured Credit Facilities | 9 . Notes Payable and Unsecured Credit Facilities The Company’s outstanding debt consists of the following: Maturing Through Weighted Average Contractual Rate Weighted Average Effective Rate December 31, (in thousands) 2019 2018 Notes payable: Fixed rate mortgage loans 10/1/2036 4.4% 4.0% $ 342,020 $ 403,306 Variable rate mortgage loans (1) 6/2/2027 3.2% 3.3% 148,389 127,850 Fixed rate unsecured public and private debt 3/15/2049 3.9% 4.1% 2,944,752 2,475,322 Total notes payable $ 3,435,161 3,006,478 Unsecured credit facilities: Line of Credit (2) 3/23/2022 2.7% 2.9% $ 220,000 $ 145,000 Term Loans 1/5/2022 2.0% 2.1% 264,383 563,734 Total unsecured credit facilities $ 484,383 708,734 Total debt outstanding $ 3,919,544 3,715,212 (1) Includes six mortgages, whose interest varies on LIBOR based formulas. Four of these variable rate loans have interest rate swaps in place to fix the interest rates at a range of 2.5% to 4.1%. The weighted average contractual and effective rates above are based on the rates with the interest rate swaps. (2) Maturity is subject to two six month extensions at the Company's option. The weighted average contractual and effective interest rates for the Line are calculated based on a fully drawn Line balance. Notes Payable Notes payable consist of mortgage loans secured by properties and unsecured public and private debt. Mortgage loans may be prepaid, 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 prepaid 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, 2019, 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”) and an unsecured term loan (the “Term Loan”) under separate credit agreements with a syndicate of banks. The Line has a borrowing capacity of $1.25 billion, which is reduced by the balance of outstanding borrowings and commitments under outstanding letters of credit. The Line bears interest at a variable rate of LIBOR plus 0.875% and is subject to a commitment fee of 0.15%, both of which are based on the Company's corporate credit rating. The Term Loan bears interest at a variable rate based on LIBOR plus 0.95% and has an interest rate swap in place to fix the interest rate at 2.0%, as discussed further in note 10. The Company is required to comply with certain financial covenants as defined in the Line and Term Loan credit agreements, 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, 2019, management of the Company believes it is in compliance with all financial covenants for the Line and Term Loans. Scheduled principal payments and maturities on notes payable and unsecured credit facilities were as follows: (in thousands) December 31, 2019 Scheduled Principal Payments and Maturities by Year: Scheduled Principal Payments Mortgage Loan Maturities Unsecured Maturities (1) Total 2020 $ 11,285 39,074 — 50,359 2021 11,598 74,101 — 85,699 2022 11,797 5,848 785,000 802,645 2023 10,124 59,374 — 69,498 2024 5,301 90,742 250,000 346,043 Beyond 5 Years 21,712 145,303 2,425,000 2,592,015 Unamortized debt premium/(discount) and issuance costs — 4,150 (30,865 ) (26,715 ) Total notes payable $ 71,817 418,592 3,429,135 3,919,544 (1) Includes unsecured public and private debt and unsecured credit facilities. The Company has $39.1 million of debt maturing over the next twelve months, which is in the form of non-recourse mortgage loans. The Company currently intends to repay the maturing balances and leave the properties unencumbered. The Company has sufficient capacity on its Line to repay the maturing debt, if necessary. |
Derivative Financial Instrument
Derivative Financial Instruments | 12 Months Ended |
Dec. 31, 2019 | |
Derivative Instruments And Hedging Activities Disclosure [Abstract] | |
Derivative Financial Instruments | 10 . Derivative Financial 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 Date Maturity Date Notional Amount Bank Pays Variable Rate of Regency Pays Fixed Rate of 2019 2018 12/6/18 6/28/19 $ 250,000 30 year U.S. Treasury (2) 3.147 % $ — $ (5,491 ) 4/3/17 12/2/20 300,000 1 Month LIBOR with Floor (3) 1.824 % — 3,759 8/1/16 1/5/22 265,000 1 Month LIBOR with Floor 1.053 % 2,674 10,838 4/7/16 4/1/23 19,767 1 Month LIBOR 1.303 % 148 880 12/1/16 11/1/23 32,952 1 Month LIBOR 1.490 % 84 1,376 9/17/19 3/17/25 24,000 1 Month LIBOR 1.542 % 81 — 6/2/17 6/2/27 37,166 1 Month LIBOR with Floor 2.366 % (1,515 ) 629 Total derivative financial instruments $ 1,472 11,991 (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) On March 7, 2019, the Company settled its 30 year Treasury rate lock in connection with its issuance of the $300 million 4.65% unsecured notes due March 2049 for $5.7 million, which is included in the balance of Accumulated other comprehensive income (loss) ("AOCI") and will be amortized and reclassified to earnings over the 30 year term of the hedged transaction. (3) On August 14, 2019, the Company paid an interest rate swap breakage fee of approximately $1.1 million to settle its interest rate swap in connection with the repayment in full of its $300 million term loan that was due to mature in December 2020. This breakage fee is included in Early extinguishment of debt in the accompanying Consolidated Statements of Operations. 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, 2019, does not have any derivatives that are not designated as hedges. The Company has master netting agreements; however, the Company does not have multiple derivatives subject to a single master netting agreement with the same counterparties. Therefore, none are offset in the accompanying Consolidated Balance Sheets. 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) Recognized in OCI on Derivative Location and Amount of Gain (Loss) Reclassified from AOCI into Income Total amounts presented in the Consolidated Statements of Operations in which the effects of cash flow hedges are recorded Year ended December 31, Year ended December 31, Year ended December 31, (in thousands) 2019 2018 2017 2019 2018 2017 2019 2018 2017 Interest rate swaps $ (15,585 ) 402 1,151 Interest expense, net $ 3,269 5,342 11,103 Interest expense, net $ 151,264 148,456 132,629 As of December 31, 2019, the Company expects $4.1 million of net deferred losses 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. Included in the reclassification is $4.3 million which is related to previously settled swaps on the Company's ten and thirty year fixed rate unsecured debt. |
Fair Value Measurements
Fair Value Measurements | 12 Months Ended |
Dec. 31, 2019 | |
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 approximates their fair values, except for the following: December 31, 2019 2018 (in thousands) Carrying Amount Fair Value Carrying Amount Fair Value Financial liabilities: Notes payable $ 3,435,161 3,688,604 $ 3,006,478 2,961,769 Unsecured credit facilities $ 484,383 489,496 $ 708,734 710,902 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, 2019 and 2018. These fair value measurements maximize the use of observable inputs. 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, appropriately 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 includes unrealized (gains) losses of ($3.8) million, $3.3 million, and ($1.1) million for the years ended December 31, 2019, 2018, and 2017, respectively. 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 matrix pricing methods 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 table presents 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, 2019 (in thousands) Balance Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Securities $ 39,599 39,599 — — Available-for-sale debt securities 10,755 — 10,755 — Interest rate derivatives 2,987 — 2,987 — Total $ 53,341 39,599 13,742 — Liabilities: Interest rate derivatives $ (1,515 ) — (1,515 ) — Fair Value Measurements as of December 31, 2018 (in thousands) Balance Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Securities $ 33,354 33,354 — — Available-for-sale debt securities 7,933 — 7,933 — Interest rate derivatives 17,482 — 17,482 — Total $ 58,769 33,354 25,415 — Liabilities: Interest rate derivatives $ (5,491 ) — (5,491 ) — The following tables present the placement in the fair value hierarchy of assets and liabilities that are measured at fair value on a non-recurring basis: Fair Value Measurements as of December 31, 2019 (in thousands) Balance Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Gains (Losses) Operating properties $ 71,131 — 28,131 43,000 (50,553 ) Fair Value Measurements as of December 31, 2018 (in thousands) Balance Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Gains (Losses) Operating properties $ 42,760 — 42,760 — (6,579 ) During the year ended December 31, 2019, the Company recorded a $50.5 million Provision for impairment on two operating properties which are classified as held and used. One property was remeasured to fair value based on its expected selling price, which is reflected in the above Level 2 category, and resulted in a $10.2 million Provision for impairment. The second property impairment was triggered as a result of an expected early move out of a tenant at a single-tenant retail center that has declared bankruptcy, resulting in the Company re-evaluating the highest and best use of the asset and its expected hold period. The fair value of the property was derived using a discounted cash flow model, which included assumptions around redevelopment of the asset to its highest and best use as a mixed-use project and re-leasing the space. The discount rate of 8.58% and terminal capitalization rate of 4.75% used in the discounted cash flow model are considered significant inputs and assumptions to estimating the non-recurring fair value measurement of $43.0 million, which is considered a Level 3 input per the fair value hierarchy. The amount by which the carrying value exceeded the fair value resulted in a $40.3 million Provision for impairment. During the year ended December 31, 2018, the Company recognized a $38.4 million provision for impairment, net of tax, which included $31.8 million on real estate sold or held and used and $6.6 million on three properties classified as held for sale. The impairment of the real estate assets was determined based on the expected selling price as compared to the Company's carrying value of its investment. |
Equity and Capital
Equity and Capital | 12 Months Ended |
Dec. 31, 2019 | |
Equity And Capital [Abstract] | |
Equity and Capital | 1 2 . Equity and Capital Common Stock of the Parent Company At the Market (“ATM”) Program Under the Parent Company's ATM equity offering program, the Parent Company may sell up to $500.0 million of common stock at prices determined by the market at the time of sale. During September 2019, the Company entered into forward sale agreements under its ATM program through which the Company will issue 1,894,845 shares of its common stock at an average offering price of $67.99. The shares under the forward sales agreements may be settled at any time before the settlement date, which is September 12, 2020. No shares have been settled at December 31, 2019. Proceeds from the issuance of shares are expected to be used to fund acquisitions of operating properties, to fund developments and redevelopments, and for general corporate purposes. There were no shares issued under the ATM equity program during the year ended December 31, 2018. As of December 31, 2019, $500.0 million of common stock remained available for issuance under this ATM equity program, before settlement of the forward shares described above. Share Repurchase Program On February 4, 2020, the Company's Board authorized a new common share repurchase program under which the Company, may purchase, from time to time, up to a maximum of $250 million of shares of its outstanding common stock through open market purchases and/or in privately negotiated transactions. Any shares purchased will be retired. The program is set to expire on February 5, 2021. The timing and actual number of shares purchased under the program depend upon marketplace conditions and other factors. The program remains subject to the discretion of the Board. In January 2019, the Company settled 563,229 shares, which were repurchased in December 2018 under a previously active repurchase program, for $32.8 million at an average price of $58.17 per share. The program closed in February 2019, with a newly authorized program that ended February 2020 with no repurchases made under it. Common Units of the Operating Partnership Common units of the operating partnership are issued or redeemed and retired for each of the shares of Parent Company common stock issued or repurchased and retired, as described above. In September 2019, the Operating Partnership issued 396,531 exchangeable operating partnership units, valued at $25.9 million, as partial purchase price consideration for the acquisition of an operating shopping center. General Partners The Parent Company, as general partner, owned the following Partnership Units outstanding: December 31, (in thousands) 2019 2018 Partnership units owned by the general partner 167,571 167,904 Partnership units owned by the limited partners 746 350 Total partnership units outstanding 168,317 168,254 Percentage of partnership units owned by the general partner 99.6 % 99.8 % |
Stock-Based Compensation
Stock-Based Compensation | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |
Stock-Based Compensation | 1 3 . 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) 2019 2018 2017 Restricted stock (1) $ 16,254 16,745 15,525 Directors' fees paid in common stock (1) 410 399 303 Capitalized stock-based compensation (2) (2,325 ) (3,509 ) (3,210 ) Stock based compensation attributable to post-combination service from Equity One merger — — 7,931 Stock-based compensation, net of capitalization $ 14,339 13,635 20,549 (1) Includes amortization of the grant date fair value of restricted stock awards over the respective vesting periods. (2) Includes compensation expense specifically identifiable to development and redevelopment activities. During 2018 and 2017, these amounts also include compensation expense specifically identifiable to leasing activities, as non-contingent internal leasing costs were capitalizable prior to the adoption of Topic 842, Leases 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 5.6 million shares in the form of the Parent Company's common stock or stock options. As of December 31, 2019, there were 5.0 million shares available for grant under the Plan either through stock options or restricted stock awards. 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, 2019 Number of Shares Intrinsic Value (in thousands) Weighted Average Grant Price Non-vested as of December 31, 2018 595,171 Time-based awards granted (1) (4) 122,488 $ 65.21 Performance-based awards granted (2) (4) 11,722 $ 65.00 Market-based awards granted (3) (4) 121,225 $ 65.03 Change in market-based awards earned for performance (3) 53,865 $ 64.58 Vested (5) (272,827 ) $ 64.82 Forfeited (8,554 ) $ 65.30 Non-vested as of December 31, 2019 (6) 623,090 $ 39,311 (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) (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, 2019 2018 2017 Volatility 19.30 % 19.20 % 18.00 % Risk free interest rate 2.43 % 2.26 % 1.48 % (4) The weighted-average grant price for restricted stock granted during the years is summarized below: Year ended December 31, 2019 2018 2017 Weighted-average grant price for restricted stock $ 65.11 $ 63.50 $ 72.05 (5) Year ended December 31, 2019 2018 2017 Intrinsic value of restricted stock vested $ 17,684 $ 17,306 $ 14,376 (6) As of December 31, 2019 there was $12.9 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, 2019 | |
Compensation And Retirement Disclosure [Abstract] | |
Saving and Retirement Plans | 1 4 . 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, 2019. Additionally, an annual profit sharing contribution may be made, which vests over a three year period. Costs for Company contributions to the plan totaled $3.5 million, $3.9 million, and $4.1 million for the years ended December 31, 2019, 2018, and 2017, 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) 2019 2018 Location in Consolidated Balance Sheets Assets: Securities $ 36,849 31,351 Other assets Liabilities: Deferred compensation obligation $ 36,755 31,166 Accounts payable and other liabilities Realized and unrealized gains and losses on securities held in the NQDCP are recognized within Net investment income 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 |
Earnings per Share and Unit
Earnings per Share and Unit | 12 Months Ended |
Dec. 31, 2019 | |
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) 2019 2018 2017 Numerator: Income attributable to common stockholders - basic $ 239,430 $ 249,127 159,949 Income attributable to common stockholders - diluted $ 239,430 $ 249,127 159,949 Denominator: Weighted average common shares outstanding for basic EPS 167,526 169,724 159,536 Weighted average common shares outstanding for diluted EPS (1) (2) 167,771 170,100 159,960 Income per common share – basic $ 1.43 $ 1.47 1.00 Income per common share – diluted $ 1.43 $ 1.46 1.00 (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 excludes 1.9 million and 1.3 million shares issuable under the forward ATM equity offering and the forward equity offering outstanding during 2019 and 2017, respectively, as they would be anti-dilutive. Income allocated to noncontrolling interests of the Operating Partnership has been excluded from the numerator and exchangeable Operating Partnership units have been omitted from the denominator for the purpose of computing diluted earnings per share since the effect of including these amounts in the numerator and denominator would be anti-dilutive. Weighted average exchangeable Operating Partnership units outstanding for the years ended December 31, 2019, 2018, and 2017, were 464,286 , 349,902, and 295,054, respectively. Operating Partnership Earnings per Unit The following summarizes the calculation of basic and diluted earnings per unit: Year ended December 31, (in thousands, except per share data) 2019 2018 2017 Numerator: Income attributable to common unit holders - basic $ 240,064 $ 249,652 160,337 Income attributable to common unit holders - diluted $ 240,064 $ 249,652 160,337 Denominator: Weighted average common units outstanding for basic EPU 167,990 170,074 159,831 Weighted average common units outstanding for diluted EPU (1) (2) 168,235 170,450 160,255 Income per common unit – basic $ 1.43 $ 1.47 1.00 Income per common unit – diluted $ 1.43 $ 1.46 1.00 (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 excludes 1.9 million and 1.3 million shares issuable under the forward ATM equity offering and the forward equity offering outstanding during 2019 and 2017, respectively, as they would be anti-dilutive. |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2019 | |
Commitments And Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | 1 6 . Commitments and Contingencies Litigation The Company is involved in litigation on a number of matters and is subject to certain claims, which arise in the normal course of business, none of which, in the opinion of management, is 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 pertaining primarily to chemicals used by the dry cleaning industry, the existence of asbestos in older shopping centers, and underground petroleum storage tanks. 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 the shopping centers have revealed all potential environmental contaminants or liabilities; that any previous owner, occupant or tenant did not create any material environmental condition not known to it, 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, or that changes in applicable environmental laws and regulations or their interpretation will not result in additional material environmental liability to the Company. Letters of Credit The Company has the right to issue letters of credit under the Line up to an 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 program and to facilitate the construction of development projects. As of December 31, 2019 and 2018, the Company had $12.5 million and $9.4 million, respectively, in letters of credit outstanding. Purchase Commitments The Company enters purchase and sale agreements to buy or sell real estate assets in the normal course of business, which generally provide limited recourse if either party ends the contract. At December 31, 2019, the Company had a commitment to purchase an additional 16.62% ownership interest in the Town and Country shopping center, bringing our ownership interest to 35%. We closed on the purchase in January 2020 for $18.1 million. |
Summary of Quarterly Financial
Summary of Quarterly Financial Data | 12 Months Ended |
Dec. 31, 2019 | |
Quarterly Financial Information Disclosure [Abstract] | |
Summary of Quarterly Financial Data | 1 7 . Summary of Quarterly Financial Data (Unaudited) The following table summarizes selected Quarterly Financial Data for the Company on a historical basis for the years ended December 31, 2019 and 2018: (in thousands except per share and per unit data) First Quarter Second Quarter Third Quarter Fourth Quarter Year ended December 31, 2019 Operating Data: Revenue $ 286,257 275,872 282,276 288,733 Net income attributable to common stockholders $ 90,446 51,728 56,965 40,291 Net income attributable to exchangeable operating partnership units 190 109 157 178 Net income attributable to common unit holders $ 90,636 51,837 57,122 40,469 Net income attributable to common stock and unit holders per share and unit: Basic $ 0.54 0.31 0.34 0.24 Diluted $ 0.54 0.31 0.34 0.24 Year ended December 31, 2018 Operating Data: Revenue $ 276,693 281,412 278,310 284,560 Net income attributable to common stockholders $ 52,660 47,841 69,722 78,904 Net income attributable to exchangeable operating partnership units 111 100 147 167 Net income attributable to common unit holders $ 52,771 47,941 69,869 79,071 Net income attributable to common stock and unit holders per share and unit: Basic $ 0.31 0.28 0.41 0.47 Diluted $ 0.31 0.28 0.41 0.46 |
Schedule III - Consolidated Rea
Schedule III - Consolidated Real Estate and Accumulated Depreciation | 12 Months Ended |
Dec. 31, 2019 | |
Real Estate And Accumulated Depreciation Disclosure [Abstract] | |
Consolidated Real Estate and Accumulated Depreciation | Initial Cost Total Cost Net Cost Shopping Centers (1) Land & Land Improvements Building & Improvements Cost Capitalized Subsequent to Acquisition (2) Land & Land Improvements Building & Improvements Total Accumulated Depreciation Net of Accumulated Depreciation Mortgages 101 7th Avenue $ 48,340 34,895 (38,993 ) 26,196 18,046 44,242 (1,304 ) 42,938 — 1175 Third Avenue 40,560 25,617 1 40,560 25,618 66,178 (2,118 ) 64,060 — 1225-1239 Second Ave 23,033 17,173 45 23,033 17,218 40,251 (1,533 ) 38,718 — 200 Potrero 4,860 2,251 124 4,860 2,375 7,235 (190 ) 7,045 — 22 Crescent Road 2,198 272 (318 ) 2,152 — 2,152 — 2,152 — 4S Commons Town Center 30,760 35,830 1,405 30,812 37,183 67,995 (25,944 ) 42,051 (85,000 ) 6401 Roosevelt 2,685 934 2 2,685 936 3,621 (12 ) 3,609 — 90 - 30 Metropolitan Avenue 16,614 24,171 41 16,614 24,212 40,826 (2,094 ) 38,732 — 91 Danbury Road 732 851 — 732 851 1,583 (104 ) 1,479 — Alafaya Village 3,004 5,852 93 3,004 5,945 8,949 (702 ) 8,247 — Amerige Heights Town Center 10,109 11,288 798 10,109 12,086 22,195 (5,209 ) 16,986 — Anastasia Plaza 9,065 — 704 3,338 6,431 9,769 (2,844 ) 6,925 — Ashford Place 2,584 9,865 1,143 2,584 11,008 13,592 (8,057 ) 5,535 — Atlantic Village 4,282 18,827 1,067 4,282 19,894 24,176 (2,403 ) 21,773 — Aventura Shopping Center 2,751 10,459 10,841 9,441 14,610 24,051 (1,821 ) 22,230 — Aventura Square 88,098 20,771 1,776 89,657 20,988 110,645 (2,306 ) 108,339 (6,008 ) Balboa Mesa Shopping Center 23,074 33,838 14,082 27,758 43,236 70,994 (14,003 ) 56,991 — Banco Popular Building 2,160 1,137 (32 ) 2,160 1,105 3,265 (1,247 ) 2,018 — Belleview Square 8,132 9,756 3,735 8,323 13,300 21,623 (8,543 ) 13,080 — Belmont Chase 13,881 17,193 (494 ) 14,372 16,208 30,580 (4,738 ) 25,842 — Berkshire Commons 2,295 9,551 2,652 2,965 11,533 14,498 (8,189 ) 6,309 — Bird 107 Plaza 10,371 5,136 (25 ) 10,371 5,111 15,482 (640 ) 14,842 — Bird Ludlam 42,663 38,481 336 42,663 38,817 81,480 (4,066 ) 77,414 — Black Rock 22,251 20,815 497 22,251 21,312 43,563 (4,879 ) 38,684 (19,767 ) Bloomingdale Square 3,940 14,912 1,690 4,559 15,983 20,542 (9,432 ) 11,110 — Boca Village Square 43,888 9,726 (72 ) 43,888 9,654 53,542 (1,475 ) 52,067 — Boulevard Center 3,659 10,787 2,606 3,659 13,393 17,052 (7,636 ) 9,416 — Boynton Lakes Plaza 2,628 11,236 5,019 3,606 15,277 18,883 (7,985 ) 10,898 — Boynton Plaza 12,879 20,713 125 12,879 20,838 33,717 (2,313 ) 31,404 — Brentwood Plaza 2,788 3,473 353 2,788 3,826 6,614 (1,540 ) 5,074 — Briarcliff La Vista 694 3,292 551 694 3,843 4,537 (3,012 ) 1,525 — Briarcliff Village 4,597 24,836 2,572 4,597 27,408 32,005 (19,493 ) 12,512 — Brick Walk 25,299 41,995 1,365 25,299 43,360 68,659 (7,988 ) 60,671 (32,952 ) BridgeMill Market 7,521 13,306 429 7,522 13,734 21,256 (1,842 ) 19,414 (4,582 ) Bridgeton 3,033 8,137 605 3,067 8,708 11,775 (2,915 ) 8,860 — Brighten Park 3,983 18,687 11,560 4,234 29,996 34,230 (17,540 ) 16,690 — Broadway Plaza 40,723 42,170 1,453 40,723 43,623 84,346 (4,207 ) 80,139 — Brooklyn Station on Riverside 7,019 8,688 118 6,998 8,827 15,825 (1,892 ) 13,933 — Brookside Plaza 35,161 17,494 130 35,161 17,624 52,785 (2,841 ) 49,944 — Initial Cost Total Cost Net Cost Shopping Centers (1) Land & Land Improvements Building & Improvements Cost Capitalized Subsequent to Acquisition (2) Land & Land Improvements Building & Improvements Total Accumulated Depreciation Net of Accumulated Depreciation Mortgages Buckhead Court 1,417 7,432 4,300 1,417 11,732 13,149 (7,666 ) 5,483 — Buckhead Station 70,411 36,518 1,445 70,448 37,926 108,374 (4,917 ) 103,457 — Buckley Square 2,970 5,978 1,327 2,970 7,305 10,275 (4,515 ) 5,760 — Caligo Crossing 2,459 4,897 101 2,546 4,911 7,457 (3,114 ) 4,343 — Cambridge Square 774 4,347 796 774 5,143 5,917 (3,435 ) 2,482 — Carmel Commons 2,466 12,548 5,412 3,422 17,004 20,426 (10,414 ) 10,012 — Carriage Gate 833 4,974 3,491 1,302 7,996 9,298 (6,478 ) 2,820 — Carytown Exchange 4,378 1,328 (54 ) 4,378 1,274 5,652 (55 ) 5,597 — Cashmere Corners 3,187 9,397 124 3,187 9,521 12,708 (1,314 ) 11,394 — Centerplace of Greeley III 6,661 11,502 1,265 5,694 13,734 19,428 (5,468 ) 13,960 — Charlotte Square 1,141 6,845 842 1,141 7,687 8,828 (1,074 ) 7,754 — Chasewood Plaza 4,612 20,829 5,719 6,886 24,274 31,160 (18,237 ) 12,923 — Chastain Square 30,074 12,644 1,680 30,074 14,324 44,398 (2,105 ) 42,293 — Cherry Grove 3,533 15,862 4,491 3,533 20,353 23,886 (11,239 ) 12,647 — Chimney Rock 23,587 47,377 — 23,587 47,377 70,964 (5,788 ) 65,176 — Circle Center West 22,930 9,028 134 22,930 9,162 32,092 (1,137 ) 30,955 (9,513 ) Circle Marina Center 29,303 18,408 — 29,303 18,408 47,711 (186 ) 47,525 (24,000 ) CityLine Market 12,208 15,839 161 12,306 15,902 28,208 (3,129 ) 25,079 — CityLine Market Phase II 2,744 3,081 (1 ) 2,744 3,080 5,824 (540 ) 5,284 — Clayton Valley Shopping Center 24,189 35,422 3,012 24,538 38,085 62,623 (26,143 ) 36,480 — Clocktower Plaza Shopping Ctr 49,630 19,624 223 49,630 19,847 69,477 (2,012 ) 67,465 — Clybourn Commons 15,056 5,594 229 15,056 5,823 20,879 (1,321 ) 19,558 — Cochran's Crossing 13,154 12,315 1,640 13,154 13,955 27,109 (10,247 ) 16,862 — Compo Acres Shopping Center 28,627 10,395 765 28,627 11,160 39,787 (1,097 ) 38,690 — Concord Shopping Plaza 30,819 36,506 638 31,272 36,691 67,963 (3,708 ) 64,255 (27,750 ) Copps Hill Plaza 29,515 40,673 411 29,514 41,085 70,599 (4,405 ) 66,194 (12,307 ) Coral Reef Shopping Center 14,922 15,200 3,414 15,011 18,525 33,536 (1,769 ) 31,767 — Corkscrew Village 8,407 8,004 620 8,407 8,624 17,031 (3,703 ) 13,328 — Cornerstone Square 1,772 6,944 1,701 1,772 8,645 10,417 (5,964 ) 4,453 — Corvallis Market Center 6,674 12,244 468 6,696 12,690 19,386 (6,226 ) 13,160 — Costa Verde Center 12,740 26,868 1,623 12,798 28,433 41,231 (21,159 ) 20,072 — Countryside Shops 17,982 35,574 14,750 23,154 45,152 68,306 (5,292 ) 63,014 — Courtyard Shopping Center 5,867 4 3 5,867 7 5,874 (2 ) 5,872 — Culver Center 108,841 32,308 854 108,841 33,162 142,003 (4,025 ) 137,978 — Danbury Green 30,303 19,255 211 30,303 19,466 49,769 (2,024 ) 47,745 — Dardenne Crossing 4,194 4,005 433 4,343 4,289 8,632 (2,023 ) 6,609 — Darinor Plaza 693 32,140 787 711 32,909 33,620 (3,498 ) 30,122 — Diablo Plaza 5,300 8,181 2,129 5,300 10,310 15,610 (5,605 ) 10,005 — Dunwoody Village 3,342 15,934 4,780 3,342 20,714 24,056 (15,219 ) 8,837 — Initial Cost Total Cost Net Cost Shopping Centers (1) Land & Land Improvements Building & Improvements Cost Capitalized Subsequent to Acquisition (2) Land & Land Improvements Building & Improvements Total Accumulated Depreciation Net of Accumulated Depreciation Mortgages East Pointe 1,730 7,189 2,142 1,941 9,120 11,061 (5,962 ) 5,099 — El Camino Shopping Center 7,600 11,538 12,906 10,328 21,716 32,044 (8,742 ) 23,302 — El Cerrito Plaza 11,025 27,371 2,463 11,025 29,834 40,859 (11,474 ) 29,385 — El Norte Pkwy Plaza 2,834 7,370 3,404 3,263 10,345 13,608 (5,820 ) 7,788 — Encina Grande 5,040 11,572 20,057 10,518 26,151 36,669 (12,525 ) 24,144 — Fairfield Center 6,731 29,420 1,069 6,731 30,489 37,220 (5,529 ) 31,691 — Falcon Marketplace 1,340 4,168 429 1,340 4,597 5,937 (2,465 ) 3,472 — Fellsway Plaza 30,712 7,327 10,017 34,923 13,133 48,056 (6,030 ) 42,026 (37,166 ) Fenton Marketplace 2,298 8,510 (8,092 ) 512 2,204 2,716 (981 ) 1,735 — Fleming Island 3,077 11,587 3,047 3,111 14,600 17,711 (8,409 ) 9,302 — Folsom Prairie City Crossing 4,164 13,032 838 4,164 13,870 18,034 (6,657 ) 11,377 — Fountain Square 29,650 29,048 (98 ) 29,712 28,888 58,600 (8,062 ) 50,538 — French Valley Village Center 11,924 16,856 298 11,822 17,256 29,078 (13,204 ) 15,874 — Friars Mission Center 6,660 28,021 1,913 6,660 29,934 36,594 (15,937 ) 20,657 — Gardens Square 2,136 8,273 696 2,136 8,969 11,105 (5,234 ) 5,871 — Gateway 101 24,971 9,113 1,271 24,971 10,384 35,355 (3,779 ) 31,576 — Gateway Shopping Center 52,665 7,134 10,736 55,346 15,189 70,535 (16,617 ) 53,918 — Gelson's Westlake Market Plaza 3,157 11,153 5,876 4,654 15,532 20,186 (7,607 ) 12,579 — Glen Oak Plaza 4,103 12,951 955 4,103 13,906 18,009 (4,344 ) 13,665 — Glengary Shoppes 9,120 11,541 887 9,120 12,428 21,548 (1,592 ) 19,956 — Glenwood Village 1,194 5,381 331 1,194 5,712 6,906 (4,481 ) 2,425 — Golden Hills Plaza 12,699 18,482 3,602 11,518 23,265 34,783 (9,736 ) 25,047 — Grand Ridge Plaza 24,208 61,033 6,171 24,918 66,494 91,412 (20,355 ) 71,057 — Greenwood Shopping Centre 7,777 24,829 468 7,777 25,297 33,074 (2,898 ) 30,176 — Hammocks Town Center 28,764 25,113 565 28,764 25,678 54,442 (3,140 ) 51,302 — Hancock 8,232 28,260 1,453 8,232 29,713 37,945 (16,470 ) 21,475 — Harpeth Village Fieldstone 2,284 9,443 766 2,284 10,209 12,493 (5,595 ) 6,898 — Harris Crossing 7,199 3,687 (1,523 ) 5,508 3,855 9,363 (2,744 ) 6,619 — Heritage Plaza 12,390 26,097 14,156 12,215 40,428 52,643 (18,704 ) 33,939 — Hershey 7 808 10 7 818 825 (464 ) 361 — Hewlett Crossing I & II 11,850 18,205 749 11,850 18,954 30,804 (1,253 ) 29,551 (9,400 ) Hibernia Pavilion 4,929 5,065 188 4,929 5,253 10,182 (3,289 ) 6,893 — Hickory Creek Plaza 5,629 4,564 452 5,629 5,016 10,645 (4,687 ) 5,958 — Hillcrest Village 1,600 1,909 51 1,600 1,960 3,560 (1,047 ) 2,513 — Hilltop Village 2,995 4,581 3,696 3,104 8,168 11,272 (2,950 ) 8,322 — Hinsdale 5,734 16,709 11,686 8,343 25,786 34,129 (13,837 ) 20,292 — Holly Park 8,975 23,799 1,719 8,828 25,665 34,493 (5,315 ) 29,178 — Homestead McDonald's 2,229 — — 2,229 — 2,229 (22 ) 2,207 — Howell Mill Village 5,157 14,279 2,687 5,157 16,966 22,123 (6,852 ) 15,271 — Initial Cost Total Cost Net Cost Shopping Centers (1) Land & Land Improvements Building & Improvements Cost Capitalized Subsequent to Acquisition (2) Land & Land Improvements Building & Improvements Total Accumulated Depreciation Net of Accumulated Depreciation Mortgages Hyde Park 9,809 39,905 3,998 9,809 43,903 53,712 (26,363 ) 27,349 — Indian Springs Center 24,974 25,903 668 25,034 26,511 51,545 (4,986 ) 46,559 — Indigo Square 8,088 9,697 8 8,088 9,705 17,793 (610 ) 17,183 — Inglewood Plaza 1,300 2,159 829 1,300 2,988 4,288 (1,583 ) 2,705 — Jefferson Square 5,167 6,445 (7,219 ) 1,894 2,499 4,393 (945 ) 3,448 — Keller Town Center 2,294 12,841 758 2,404 13,489 15,893 (7,144 ) 8,749 — Kent Place 4,855 3,586 963 5,269 4,135 9,404 (1,160 ) 8,244 (8,250 ) Kirkman Shoppes 9,364 26,243 543 9,367 26,783 36,150 (2,806 ) 33,344 — Kirkwood Commons 6,772 16,224 909 6,802 17,103 23,905 (5,095 ) 18,810 (8,050 ) Klahanie Shopping Center 14,451 20,089 578 14,451 20,667 35,118 (2,705 ) 32,413 — Kroger New Albany Center 3,844 6,599 1,385 3,844 7,984 11,828 (5,744 ) 6,084 — Lake Mary Centre 24,036 57,476 1,682 24,036 59,158 83,194 (7,003 ) 76,191 — Lake Pine Plaza 2,008 7,632 860 2,029 8,471 10,500 (4,834 ) 5,666 — Lantana Outparcels 3,710 1,004 — 3,710 1,004 4,714 (242 ) 4,472 — Lebanon/Legacy Center 3,913 7,874 866 3,913 8,740 12,653 (6,184 ) 6,469 — Littleton Square 2,030 8,859 (3,671 ) 2,423 4,795 7,218 (2,422 ) 4,796 — Lloyd King Center 1,779 10,060 1,279 1,779 11,339 13,118 (6,542 ) 6,576 — Lower Nazareth Commons 15,992 12,964 4,040 16,343 16,653 32,996 (9,759 ) 23,237 — Mandarin Landing 7,913 27,230 342 7,913 27,572 35,485 (3,158 ) 32,327 — Market at Colonnade Center 6,455 9,839 87 6,160 10,221 16,381 (4,363 ) 12,018 — Market at Preston Forest 4,400 11,445 1,695 4,400 13,140 17,540 (7,313 ) 10,227 — Market at Round Rock 2,000 9,676 6,634 1,996 16,314 18,310 (10,225 ) 8,085 — Market at Springwoods Village 12,570 12,841 — 12,570 12,841 25,411 (1,818 ) 23,593 (7,350 ) Market Common Clarendon 154,932 126,328 (5,914 ) 154,932 120,414 275,346 (14,375 ) 260,971 — Marketplace at Briargate 1,706 4,885 155 1,727 5,019 6,746 (2,877 ) 3,869 — Mellody Farm 35,455 63,979 — 35,455 63,979 99,434 (3,725 ) 95,709 — Melrose Market 4,451 10,807 5 4,451 10,812 15,263 (899 ) 14,364 — Millhopper Shopping Center 1,073 5,358 5,981 1,901 10,511 12,412 (7,233 ) 5,179 — Mockingbird Commons 3,000 10,728 2,516 3,000 13,244 16,244 (6,964 ) 9,280 — Monument Jackson Creek 2,999 6,765 878 2,999 7,643 10,642 (5,760 ) 4,882 — Morningside Plaza 4,300 13,951 956 4,300 14,907 19,207 (8,224 ) 10,983 — Murrayhill Marketplace 2,670 18,401 14,021 2,903 32,189 35,092 (14,326 ) 20,766 — Naples Walk 18,173 13,554 1,567 18,173 15,121 33,294 (6,677 ) 26,617 — Newberry Square 2,412 10,150 1,147 2,412 11,297 13,709 (8,668 ) 5,041 — Newland Center 12,500 10,697 8,449 16,276 15,370 31,646 (8,745 ) 22,901 — Nocatee Town Center 10,124 8,691 7,893 10,606 16,102 26,708 (6,426 ) 20,282 — North Hills 4,900 19,774 1,385 4,900 21,159 26,059 (11,676 ) 14,383 — Northgate Marketplace 5,668 13,727 (50 ) 4,995 14,350 19,345 (5,580 ) 13,765 — Northgate Marketplace Ph II 12,189 30,171 (82 ) 12,189 30,089 42,278 (4,592 ) 37,686 — Initial Cost Total Cost Net Cost Shopping Centers (1) Land & Land Improvements Building & Improvements Cost Capitalized Subsequent to Acquisition (2) Land & Land Improvements Building & Improvements Total Accumulated Depreciation Net of Accumulated Depreciation Mortgages Northgate Plaza (Maxtown Road) 1,769 6,652 4,961 2,840 10,542 13,382 (5,265 ) 8,117 — Northgate Square 5,011 8,692 1,145 5,011 9,837 14,848 (4,446 ) 10,402 — Northlake Village 2,662 11,284 2,087 2,686 13,347 16,033 (7,111 ) 8,922 — Oak Shade Town Center 6,591 28,966 673 6,591 29,639 36,230 (9,146 ) 27,084 (6,954 ) Oakbrook Plaza 4,000 6,668 5,769 4,766 11,671 16,437 (4,733 ) 11,704 — Oakleaf Commons 3,503 11,671 415 3,190 12,399 15,589 (6,417 ) 9,172 — Ocala Corners 1,816 10,515 522 1,816 11,037 12,853 (4,276 ) 8,577 (3,891 ) Old St Augustine Plaza 2,368 11,405 8,211 3,178 18,806 21,984 (7,954 ) 14,030 — Pablo Plaza 11,894 21,407 (815 ) 11,937 20,549 32,486 (2,413 ) 30,073 — Paces Ferry Plaza 2,812 12,639 15,438 8,342 22,547 30,889 (9,745 ) 21,144 — Panther Creek 14,414 14,748 5,667 15,212 19,617 34,829 (13,453 ) 21,376 — Pavillion 15,626 22,124 770 15,626 22,894 38,520 (2,913 ) 35,607 — Peartree Village 5,197 19,746 878 5,197 20,624 25,821 (12,904 ) 12,917 — Persimmon Place 25,975 38,114 187 26,692 37,584 64,276 (9,660 ) 54,616 — Piedmont Peachtree Crossing 45,502 16,642 165 45,502 16,807 62,309 (2,210 ) 60,099 — Pike Creek 5,153 20,652 2,598 5,251 23,152 28,403 (13,178 ) 15,225 — Pine Island 21,086 28,123 2,869 21,086 30,992 52,078 (4,327 ) 47,751 — Pine Lake Village 6,300 10,991 1,510 6,300 12,501 18,801 (6,831 ) 11,970 — Pine Ridge Square 13,951 23,147 287 13,951 23,434 37,385 (2,692 ) 34,693 — Pine Tree Plaza 668 6,220 686 668 6,906 7,574 (3,888 ) 3,686 — Pinecrest Place 3,792 13,496 (201 ) 3,591 13,496 17,087 (1,032 ) 16,055 — Plaza Escuela 24,829 104,395 1,657 24,829 106,052 130,881 (8,560 ) 122,321 — Plaza Hermosa 4,200 10,109 3,472 4,202 13,579 17,781 (7,045 ) 10,736 — Pleasanton Plaza 21,839 24,743 (17,196 ) 14,440 14,946 29,386 (1,502 ) 27,884 — Point 50 15,239 11,367 (16,447 ) 10,159 — 10,159 — 10,159 — Point Royale Shopping Center 18,201 14,889 6,435 19,383 20,142 39,525 (2,975 ) 36,550 — Post Road Plaza 15,240 5,196 153 15,240 5,349 20,589 (579 ) 20,010 — Potrero Center 133,422 116,758 84 133,422 116,842 250,264 (9,593 ) 240,671 — Powell Street Plaza 8,248 30,716 1,921 8,248 32,637 40,885 (15,895 ) 24,990 — Powers Ferry Square 3,687 17,965 9,441 5,758 25,335 31,093 (17,050 ) 14,043 — Powers Ferry Village 1,191 4,672 721 1,191 5,393 6,584 (3,995 ) 2,589 — Preston Oaks 763 30,438 (19,379 ) 569 11,253 11,822 (2,427 ) 9,395 — Prestonbrook 7,069 8,622 1,161 7,069 9,783 16,852 (6,999 ) 9,853 — Prosperity Centre 11,682 26,215 21 11,681 26,237 37,918 (2,934 ) 34,984 — Ralphs Circle Center 20,939 6,317 98 20,939 6,415 27,354 (856 ) 26,498 — Red Bank Village 10,336 9,500 1,966 10,514 11,288 21,802 (3,366 ) 18,436 — Regency Commons 3,917 3,616 291 3,917 3,907 7,824 (2,568 ) 5,256 — Regency Square 4,770 25,191 7,003 5,060 31,904 36,964 (24,565 ) 12,399 — Rivertowns Square 15,505 52,505 1,308 15,786 53,532 69,318 (2,759 ) 66,559 — Initial Cost Total Cost Net Cost Shopping Centers (1) Land & Land Improvements Building & Improvements Cost Capitalized Subsequent to Acquisition (2) Land & Land Improvements Building & Improvements Total Accumulated Depreciation Net of Accumulated Depreciation Mortgages Rona Plaza 1,500 4,917 287 1,500 5,204 6,704 (3,116 ) 3,588 — Roosevelt Square 40,371 32,108 2,012 40,382 34,109 74,491 (2,118 ) 72,373 — Russell Ridge 2,234 6,903 1,442 2,234 8,345 10,579 (5,402 ) 5,177 — Ryanwood Square 10,581 10,044 101 10,573 10,153 20,726 (1,509 ) 19,217 — Salerno Village 1,355 — — 1,355 — 1,355 (14 ) 1,341 — Sammamish-Highlands 9,300 8,075 8,477 9,592 16,260 25,852 (9,231 ) 16,621 — San Carlos Marketplace 36,006 57,886 320 36,006 58,206 94,212 (4,843 ) 89,369 — San Leandro Plaza 1,300 8,226 632 1,300 8,858 10,158 (4,855 ) 5,303 — Sandy Springs 6,889 28,056 3,430 6,889 31,486 38,375 (7,745 ) 30,630 — Sawgrass Promenade 10,846 12,525 214 10,846 12,739 23,585 (1,654 ) 21,931 — Scripps Ranch Marketplace 59,949 26,334 503 59,949 26,837 86,786 (2,004 ) 84,782 (27,000 ) Sequoia Station 9,100 18,356 2,000 9,100 20,356 29,456 (11,081 ) 18,375 — Serramonte Center 390,106 172,652 53,895 409,839 206,814 616,653 (30,646 ) 586,007 — Shaw's at Plymouth 3,968 8,367 — 3,968 8,367 12,335 (1,029 ) 11,306 — Sheridan Plaza 82,260 97,273 (579 ) 82,260 96,694 178,954 (10,019 ) 168,935 — Sherwood Crossroads 2,731 6,360 1,183 2,731 7,543 10,274 (3,473 ) 6,801 — Shoppes 104 11,193 — 2,382 7,078 6,497 13,575 (2,792 ) 10,783 — Shoppes at Homestead 5,420 9,450 2,181 5,420 11,631 17,051 (6,271 ) 10,780 — Shoppes at Lago Mar 8,323 11,347 (52 ) 8,323 11,295 19,618 (1,498 ) 18,120 — Shoppes at Sunlake Centre 16,643 15,091 339 16,643 15,430 32,073 (2,299 ) 29,774 — Shoppes of Grande Oak 5,091 5,985 561 5,091 6,546 11,637 (5,286 ) 6,351 — Shoppes of Jonathan's Landing 4,474 5,628 260 4,474 5,888 10,362 (699 ) 9,663 — Shoppes of Oakbrook 20,538 42,992 440 20,538 43,432 63,970 (4,558 ) 59,412 (3,670 ) Shoppes of Silver Lakes 17,529 21,829 56 17,529 21,885 39,414 (2,755 ) 36,659 — Shoppes of Sunset 2,860 1,316 (12 ) 2,860 1,304 4,164 (210 ) 3,954 — Shoppes of Sunset II 2,834 715 5 2,834 720 3,554 (176 ) 3,378 — Shops at County Center 9,957 11,296 978 10,254 11,977 22,231 (9,511 ) 12,720 — Shops at Erwin Mill 9,082 6,124 245 9,082 6,369 15,451 (2,660 ) 12,791 (10,000 ) Shops at John's Creek 1,863 2,014 (313 ) 1,501 2,063 3,564 (1,399 ) 2,165 — Shops at Mira Vista 11,691 9,026 177 11,691 9,203 20,894 (2,133 ) 18,761 (215 ) Shops at Quail Creek 1,487 7,717 629 1,448 8,385 9,833 (3,766 ) 6,067 — Shops at Saugus 19,201 17,984 (9 ) 18,811 18,365 37,176 (10,191 ) 26,985 — Shops at Skylake 84,586 39,342 1,793 85,117 40,604 125,721 (5,422 ) 120,299 — Shops on Main 17,020 27,055 10,659 18,527 36,207 54,734 (9,935 ) 44,799 — Sope Creek Crossing 2,985 12,001 3,093 3,332 14,747 18,079 (8,714 ) 9,365 — South Bay Village 11,714 15,580 1,741 11,776 17,259 29,035 (4,570 ) 24,465 — South Beach Regional 28,188 53,405 862 28,188 54,267 82,455 (6,567 ) 75,888 — South Point 6,563 7,939 25 6,563 7,964 14,527 (1,038 ) 13,489 — Southbury Green 26,661 34,325 1,900 26,686 36,200 62,886 (3,807 ) 59,079 — Initial Cost Total Cost Net Cost Shopping Centers (1) Land & Land Improvements Building & Improvements Cost Capitalized Subsequent to Acquisition (2) Land & Land Improvements Building & Improvements Total Accumulated Depreciation Net of Accumulated Depreciation Mortgages Southcenter 1,300 12,750 2,087 1,300 14,837 16,137 (8,065 ) 8,072 — Southpark at Cinco Ranch 18,395 11,306 7,426 21,438 15,689 37,127 (6,426 ) 30,701 — SouthPoint Crossing 4,412 12,235 1,186 4,382 13,451 17,833 (7,217 ) 10,616 — Starke 71 1,683 9 71 1,692 1,763 (814 ) 949 — Star's at Cambridge 31,082 13,520 (1 ) 31,082 13,519 44,601 (1,421 ) 43,180 — Star's at Quincy 27,003 9,425 1 27,003 9,426 36,429 (1,562 ) 34,867 — Star's at West Roxbury 21,973 13,386 (8 ) 21,973 13,378 35,351 (1,433 ) 33,918 — Sterling Ridge 12,846 12,162 783 12,846 12,945 25,791 (9,911 ) 15,880 — Stroh Ranch 4,280 8,189 661 4,280 8,850 13,130 (6,529 ) 6,601 — Suncoast Crossing 9,030 10,764 4,587 13,374 11,007 24,381 (7,040 ) 17,341 — Talega Village Center 22,415 12,054 67 22,415 12,121 34,536 (1,391 ) 33,145 — Tamarac Town Square 12,584 9,221 373 12,584 9,594 22,178 (1,403 ) 20,775 — Tanasbourne Market 3,269 10,861 (340 ) 3,149 10,641 13,790 (5,409 ) 8,381 — Tassajara Crossing 8,560 15,464 1,907 8,560 17,371 25,931 (9,081 ) 16,850 — Tech Ridge Center 12,945 37,169 (4,340 ) 12,945 32,829 45,774 (12,072 ) 33,702 (4,554 ) The Abbot 72,910 6,086 (5,444 ) 72,910 642 73,552 (63 ) 73,489 — The Field at Commonwealth 30,700 16,890 — 30,700 16,890 47,590 (2,318 ) 45,272 — The Gallery at Westbury Plaza 108,653 216,771 2,581 108,653 219,352 328,005 (19,898 ) 308,107 — The Hub Hillcrest Market 18,773 61,906 5,347 19,611 66,415 86,026 (14,462 ) 71,564 — The Marketplace (fka The Marketplace Shopping Center) 10,927 36,052 336 10,927 36,388 47,315 (3,639 ) 43,676 — The Plaza at St. Lucie West 1,718 6,204 (1 ) 1,718 6,203 7,921 (660 ) 7,261 — The Point at Garden City Park 741 9,764 5,855 2,559 13,801 16,360 (2,193 ) 14,167 — The Pruneyard 112,136 86,916 56 112,136 86,972 199,108 (1,515 ) 197,593 (2,200 ) The Shops at Hampton Oaks 843 372 65 843 437 1,280 (85 ) 1,195 — The Village at Riverstone 15,075 12,706 — 15,075 12,706 27,781 (846 ) 26,935 — The Village Center 43,597 16,428 714 44,070 16,669 60,739 (2,176 ) 58,563 — Town and Country 4,664 5,207 27 4,664 5,234 9,898 (977 ) 8,921 — Town Square 883 8,132 473 883 8,605 9,488 (5,263 ) 4,225 — Treasure Coast Plaza 7,553 21,554 626 7,553 22,180 29,733 (2,513 ) 27,220 (2,388 ) Tustin Legacy 13,829 23,922 (1 ) 13,828 23,922 37,750 (2,606 ) 35,144 — Twin City Plaza 17,245 44,225 2,389 17,263 46,596 63,859 (17,603 ) 46,256 — Twin Peaks 5,200 25,827 1,893 5,200 27,720 32,920 (14,853 ) 18,067 — Unigold Shopping Center 5,490 5,144 6,627 5,561 11,700 17,261 (1,842 ) 15,419 — University Commons 4,070 30,785 247 4,070 31,032 35,102 (5,490 ) 29,612 (35,824 ) Valencia Crossroads 17,921 17,659 1,334 17,921 18,993 36,914 (16,248 ) 20,666 — Village at La Floresta 13,140 20,571 (301 ) 13,156 20,254 33,410 (4,433 ) 28,977 — Village at Lee Airpark 11,099 12,971 3,355 11,803 15,622 27,425 (10,153 ) 17,272 — Village Center 3,885 14,131 9,496 5,480 22,032 27,512 (10,298 ) 17,214 — Von's Circle Center 49,037 22,618 674 49,037 23,292 72,329 (2,583 ) 69,746 (7,083 ) Initial Cost Total Cost Net Cost Shopping Centers (1) Land & Land Improvements Building & Improvements Cost Capitalized Subsequent to Acquisition (2) Land & Land Improvements Building & Improvements Total Accumulated Depreciation Net of Accumulated Depreciation Mortgages Walker Center 3,840 7,232 4,189 3,878 11,383 15,261 (7,278 ) 7,983 — Walmart Norwalk 20,394 21,261 9 20,394 21,270 41,664 (2,642 ) 39,022 — Waterstone Plaza 5,498 13,500 60 5,498 13,560 19,058 (1,506 ) 17,552 — Welleby Plaza 1,496 7,787 1,572 1,496 9,359 10,855 (7,827 ) 3,028 — Wellington Town Square 2,041 12,131 159 2,041 12,290 14,331 (7,433 ) 6,898 — West Bird Plaza 12,934 18,594 (30 ) 12,934 18,564 31,498 (7,876 ) 23,622 — West Chester Plaza 1,857 7,572 630 1,857 8,202 10,059 (5,855 ) 4,204 — West Lake Shopping Center 10,561 9,792 157 10,561 9,949 20,510 (1,532 ) 18,978 — West Park Plaza 5,840 5,759 1,609 5,840 7,368 13,208 (4,391 ) 8,817 — Westbury Plaza 116,129 51,460 3,373 116,129 54,833 170,962 (6,877 ) 164,085 (88,000 ) Westchase 5,302 8,273 1,048 5,302 9,321 14,623 (3,860 ) 10,763 — Westchester Commons 3,366 11,751 10,792 4,894 21,015 25,909 (8,151 ) 17,758 — Westlake Village Plaza 7,043 27,195 30,129 17,620 46,747 64,367 (25,579 ) 38,788 — Westport Plaza 9,035 7,455 11 9,035 7,466 16,501 (1,018 ) 15,483 (2,385 ) Westbard - Manor Care 12,808 2,420 — 12,808 2,420 15,228 (1,204 ) 14,024 — Westbard Square 115,051 19,094 (117 ) 115,051 18,977 134,028 (11,405 ) 122,623 — Westwood Village 19,933 25,301 (1,597 ) 18,972 24,665 43,637 (14,339 ) 29,298 — Whole Foods at Swampscott 7,399 8,322 — 7,399 8,322 15,721 (886 ) 14,835 — Williamsburg at Dunwoody 7,435 3,721 827 7,444 4,539 11,983 (719 ) 11,264 — Willow Festival 1,954 56,501 2,826 1,976 59,305 61,281 (16,549 ) 44,732 — Willow Oaks 6,664 7,908 6 6,664 7,914 14,578 (2,053 ) 12,525 — Willows Shopping Center 51,964 78,029 1,555 51,992 79,556 131,548 (7,601 ) 123,947 — Woodcroft Shopping Center 1,419 6,284 1,136 1,421 7,418 8,839 (4,776 ) 4,063 — Woodman Van Nuys 5,500 7,195 423 5,500 7,618 13,118 (4,146 ) 8,972 — Woodmen Plaza 7,621 11,018 959 7,621 11,977 19,598 (10,982 ) 8,616 — Woodside Central 3,500 9,288 662 3,489 9,961 13,450 (5,391 ) 8,059 — Young Circle Shopping Center 5,986 10,394 (684 ) 5,986 9,710 15,696 (1,019 ) 14,677 — Corporate Assets — — 2,303 — 2,303 2,303 (1,646 ) 657 — Land held for future development 37,520 — (6,862 ) 30,571 87 30,658 (2 ) 30,656 — Construction in progress — — 151,880 — 151,880 151,880 — 151,880 — $ 4,845,004 5,582,040 668,250 4,896,319 6,198,975 11,095,294 (1,766,162 ) 9,329,132 (486,259 ) (1) See Item 2, Properties (2) The negative balance for costs capitalized subsequent to acquisition could include out-parcels sold, provision for loss 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 $8.8 billion at December 31, 2019. The changes in total real estate assets for the years ended December 31, 2019, 2018, and 2017 are as follows: (in thousands) 2019 2018 2017 Beginning balance $ 10,863,162 10,892,821 4,933,499 Acquired properties and land 268,366 113,911 5,772,265 Developments and improvements 159,149 198,005 273,871 Sale of properties (60,195 ) (277,270 ) (86,814 ) Properties held for sale (58,527 ) (59,438 ) — Provision for impairment (76,661 ) (4,867 ) — Ending balance $ 11,095,294 10,863,162 10,892,821 The changes in accumulated depreciation for the years ended December 31, 2019, 2018, and 2017 are as follows: (in thousands) 2019 2018 2017 Beginning balance $ 1,535,444 1,339,771 1,124,391 Depreciation expense 260,814 249,489 222,395 Sale of properties (4,643 ) (45,901 ) (7,015 ) Accumulated depreciation related to properties held for sale (19,031 ) (7,729 ) — Provision for impairment (6,422 ) (186 ) — Ending balance $ 1,766,162 1,535,444 1,339,771 |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2019 | |
Organization Consolidation And Presentation Of Financial Statements [Abstract] | |
Estimates, Risks, and Uncertainties | Estimates, Risks, and Uncertainties 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, collectability of accounts receivable and straight line rent receivable, goodwill, and acquired lease intangible assets and acquired lease intangible 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. |
Consolidation | 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 interest. Investments in real estate partnerships not controlled by the Company are accounted for under the equity method. All significant inter-company balances and transactions are eliminated in the consolidated financial statements. The Company consolidates properties that are wholly owned or properties where it owns less than 100%, but which it 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 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 outstanding. Ownership of the Operating Partnership The Operating Partnership's capital includes general and limited common Partnership Units. As of December 31, 2019, the Parent Company owned approximately 99.6%, or 167,571,218, of the 168,317,651 |
Real Estate Partnerships | Real Estate Partnerships Regency has a partial ownership interest in 127 properties through partnerships, of which 11 are consolidated. Regency's partners include institutional investors, other real estate developers and/or operators. Regency has a variable interest in these entities through its equity interests. As managing member, Regency maintains the books and records and typically provides leasing and property management to the partnerships. The Partners’ level of involvement in these partnerships varies from protective decisions (debt, bankruptcy, selling primary asset(s) of business) to involvement in approving leases, operating budgets, and capital budgets. The assets of these partnerships are restricted to the use of the partnerships and cannot be used by general creditors of the Company. And similarly, the obligations of these partnerships can only be settled by the assets of these partnerships or additional contributions by the partners. • 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 has a controlling financial interest are consolidated and the limited partners’ ownership interest and share of net income is recorded as noncontrolling interest. o Those partnerships in which Regency does not have a controlling financial interest are accounted for using the equity method 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. Distributed proceeds from debt refinancing and real estate sales in excess of Regency's carrying value of its investment has resulted in a negative investment balance for one partnership, which 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 in lives from 10 to 40 years. • Those partnerships for which the Partners only have protective rights are considered VIEs under ASC Topic 810, Consolidation . Regency is the primary beneficiary of these VIEs as Regency has power over these partnerships and they operate primarily for the benefit of Regency. As such, Regency consolidates these entities and reports the limited partners’ interest as noncontrolling interests. 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, 2019 December 31, 2018 Assets Net real estate investments $ 325,464 112,085 Cash, cash equivalents, and restricted cash 57,269 7,309 Liabilities Notes payable 17,740 18,432 Equity Limited partners’ interests in consolidated partnerships 30,655 30,280 Noncontrolling Interests 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 stockholders of the Parent Company: (i) the limited Partnership Units in the Operating Partnership held by third parties (“Exchangeable operating partnership 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 stockholders' 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. In accordance with ASC Topic 480, Distinguishing Liabilities from Equity Limited partners' interests in consolidated partnerships are not redeemable by the holders. 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 agreement, the Company generally has the right, but not the obligation, to purchase the other member’s 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 designated 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”). Percentage rents 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, insurance and common area maintenance (“CAM”) costs (collectively “Recoverable Costs”) incurred. Lease terms generally range from three to seven years for tenant space under 10,000 square feet (“Shop Space”) and in excess of five years for spaces greater than 10,000 square feet (“Anchor Tenants”). Many leases also provide the option for the tenants 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 so it can be 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 of the life of the subsequent lease or the life of the improvement. On January 1, 2019, the Company adopted the new accounting guidance in Accounting Standards Codification (“ASC”) Topic 842, Leases, • Package of practical expedients is applied to all leases, allowing the Company not to reassess (i) whether expired or existing contracts contain leases under the new definition of a lease, (ii) lease classification for expired or existing leases, and (iii) whether previously capitalized initial direct costs would qualify for capitalization under Topic 842; • For land easements, the Company elected not to assess at transition whether any expired or existing land easements are, or contain, leases if they were not previously accounted for as leases under the previous lease accounting standard (Topic 840); • Lessor separation and allocation practical expedient - Regency elected, as lessor, to aggregate non-lease components with the related lease component if certain conditions are met, and account for the combined component based on its predominant characteristic, which generally results in combining lease and non-lease components of its tenant lease contracts to a single line shown as Lease income in the accompanying Consolidated Statements of Operations; and • The Company made an accounting policy election to continue to exclude, from contract consideration, sales tax (and similar taxes) collected from lessees. The Company's existing leases were not re-evaluated and continue to be classified as operating leases, as per the practical expedient package elected above. New and modified leases will now require evaluation of specific classification criteria, which, based on the customary terms of the Company's leases, should continue to be 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, 2019, all of the Company’s leases were classified as operating leases. CAM is a non-lease component of the lease contract under Topic 842, and therefore would be accounted for under Topic 606, Revenue from Contracts with Customers 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 at the commencement date. At lease commencement, the Company generally expects that collectibility 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 uncollectible Lease income is reversed in the period in which the Lease income is determined not to be probable of collection. In additio n to the lease-specific collecti bility assessment performed under Topic 842, the Company also recognizes 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 his torical collection experience. The following table represents the components of Tenant and other receivables in the accompanying Consolidated Balance Sheets: December 31, (in thousands) 2019 2018 Billed tenant receivables $ 24,906 25,590 Accrued CAM, insurance and tax reimbursements 10,620 25,305 Other receivables 26,724 30,953 Straight-line rent receivables 107,087 105,677 Less: allowance for doubtful accounts (1) — (10,100 ) Less: straight-line rent reserves (1) — (5,066 ) Total tenant and other receivables, net $ 169,337 172,359 (1) Beginning with the adoption of ASC 842, Leases, on January 1, 2019, uncollectible lease income is a direct charge against Lease income and the related receivable. Prior to 2019, uncollectible lease income was recorded as Provision for doubtful accounts included in Other operating expenses. The Company estimates the collectibility of the accounts receivable related to base rents, straight-line rents, expense reimbursements, and other revenue taking into consideration the Company's historical write-off experience, tenant credit-worthiness, current economic trends, and remaining lease terms. Beginning with the adoption of ASC 842, Leases, on January 1, 2019, uncollectible lease income is a direct charge against Lease income. Prior to 2019, uncollectible lease income was recorded as Provision for doubtful accounts included in Other operating expenses and Provision for straight line rent reserve included as a charge to Lease income. The Company recorded the following provisions for doubtful accounts: Year ended December 31, (in thousands) 2018 2017 Gross provision for doubtful accounts 4,993 3,992 Provision for straight line rent reserve 1,741 1,129 Real Estate Sales On January 1, 2018, the Company adopted the new accounting guidance for sales of nonfinancial assets (“Subtopic 610-20”). Beginning January 1, 2018, the Company derecognizes real estate and recognizes a gain or loss on sales of real estate 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. Any retained noncontrolling interest is measured at fair value. This change in accounting policy resulted in the recognition, through opening retained Prior to January 1, 2018, the Company recognized profits from sales of real estate under the full accrual method by the Company when: (i) a sale was consummated; (ii) the buyer's initial and continuing investment was adequate to demonstrate a commitment to pay for the property; (iii) the Company's receivable, if applicable, was not subject to future subordination; (iv) the Company had transferred to the buyer the usual risks and rewards of ownership; and (v) the Company did not have substantial continuing involvement with the property. Management Services On January 1, 2018, the Company adopted the new accounting guidance for revenue recognition (Topic 606 Revenue from Contracts with Customers Subsequent to the adoption of Topic 606, the Company recognizes revenue 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 management, 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 manager. The terms of these promotes are based on appreciation in real estate value over designated time intervals. 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. The Company did not recognize any promote revenue during the years ended December 31, 2019, 2018, or 2017. 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 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, net, within the Consolidated Balance Sheets. All income from management service contracts is included within Management, transaction and other fees on the Consolidated Statements of Operations. Additionally, Other property income, which includes incidental income from the properties, is generally recognized at the point in time that the performance obligation is met. The primary components of these revenue streams, the timing of satisfying the performance obligations, and amounts recognized are as follows: Year ended December 31, (in thousands) Timing of satisfaction of performance obligations 2019 2018 2017 Other property income Point in time $ 9,201 8,711 7,982 Management, transaction, and other fees: Property management services Over time 14,744 14,663 13,917 Asset management services Over time 7,135 7,213 7,090 Leasing services Point in time 3,692 4,044 3,573 Other transaction fees Point in time 4,065 2,574 1,578 Total management, transaction, and other fees $ 29,636 28,494 26,158 The accounts receivable for management services, which is included within Tenant and other receivables in the accompanying Consolidated Balance Sheets, are $11.6 million and $12.5 million, as of December 31, 2019 and 2018. |
Real Estate Investments | (c) Real Estate Investments The following table details the components of Real estate assets in the Consolidated Balance Sheets: (in thousands) December 31, 2019 December 31, 2018 Land $ 4,288,695 $ 4,205,445 Land improvements 607,624 613,847 Buildings 5,101,061 5,088,102 Building and tenant improvements 946,034 901,596 Construction in progress 151,880 54,172 Total real estate assets $ 11,095,294 10,863,162 Capitalization and Depreciation Maintenance and repairs that do not improve or extend the useful lives of the respective assets are recorded in operating and maintenance expense. As part of the leasing process, the Company may provide the lessee with an allowance 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 subject to a maximum of 10 years for tenant improvements, and three to seven years for furniture and equipment. Development and Redevelopment Costs Land, buildings, and improvements are recorded at cost. 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, development / redevelopment costs, construction costs, interest costs, real estate taxes, and allocated direct employee costs incurred during the period of development or redevelopment. 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 expended. The Company discontinues interest and real estate tax capitalization when the property 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 the project beyond 12 months after substantial completion of the building shell. 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, 2019 and 2018, the Company had nonrefundable deposits and other pre development costs of approximately $17.7 million and $10.6 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, 2019, 2018, and 2017, the Company expensed pre-development costs of approximately $2.5 million, $1.9 million, and $1.5 million, respectively, in Other operating expenses in the accompanying Consolidated Statements of Operations. Acquisitions Through June 30, 2017, the Company and its real estate partnerships accounted for operating property acquisitions as business combinations using the acquisition method. Effective July 1, 2017, upon the adoption of Accounting Standards Update (“ASU”) 2017-01: Business Combinations (Topic 805) - Clarifying the Definition of a Business 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 fair 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 Held for Sale The Company classifies land, an operating property, or a property in development as held-for-sale upon satisfaction of 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. Properties held-for-sale are carried at the lower of cost or fair value less costs to sell. Impairment We evaluate whether there are any indicators, including property operating performance and general market conditions, that the value of the real estate properties (including any related amortizable intangible assets or liabilities) may not be recoverable. For those properties with such indicators, management evaluates recoverability of the property's carrying amount. Through the evaluation, we compare the current carrying value of the asset to the estimated undiscounted cash flows that are directly associated with the use and ultimate disposition of the asset. Our estimated cash flows are based on several key assumptions, including rental rates, expected leasing activity, costs of tenant improvements, leasing commissions, anticipated 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 our disposition strategy or changes in the marketplace 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. To the extent that the carrying value of the asset exceeds the estimated undiscounted cash flows, an impairment loss is recognized equal to the excess of carrying value over fair value. If such indicators are not identified, management will not assess the recoverability of a property's carrying value. If a property previously classified as h eld 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 fair value of real estate assets is subjective and is determined 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. Such cash flow projections consider factors such as expected future operating income, trends and prospects, as well as the effects of demand, competition and other factors, and therefore is subject to management judgment and changes in those factors could impact the determination of fair value. In estimating the fair value of undeveloped land, the Company generally uses market data and comparable sales information. A loss in value of investments in real estate partnerships under the equity method of accounting, other than a temporary decline, must be recognized in the period in which the loss occurs. If management identifies indicators that the value of the Company's investment in real estate partnerships may be impaired, it evaluates the investment by calculating the fair value of the investment by discounting estimated future cash flows over the expected term of the investment. Tax Basis The net book basis of the Company's real estate assets exceeds the net tax basis by approximately $2.8 billion at both December 31, 2019 and 2018, primarily due to the tax free merger with Equity One and inheriting lower carryover tax basis. |
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, 2019 and 2018, $2.5 million and $2.7 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 for the Equity One merger 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 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. 5. Other Assets The following table represents the components of Other assets in the accompanying Consolidated Balance Sheets: (in thousands) December 31, 2019 December 31, 2018 Goodwill $ 307,434 314,143 Investments 50,354 41,287 Prepaid and other 18,169 17,937 Derivative assets 2,987 17,482 Furniture, fixtures, and equipment, net 7,098 6,127 Deferred financing costs, net 4,687 6,851 Total other assets $ 390,729 403,827 The following table presents the goodwill balances and activity during the year to date periods ended: December 31, 2019 December 31, 2018 (in thousands) Goodwill Accumulated Impairment Losses Total Goodwill Accumulated Impairment Losses Total Beginning of year balance $ 316,858 (2,715 ) 314,143 331,884 — 331,884 Goodwill resulting from Equity One merger — — — 500 — 500 Goodwill allocated to Provision for impairment — (2,954 ) (2,954 ) — (12,628 ) (12,628 ) Goodwill allocated to Properties held for sale (2,472 ) — (2,472 ) (1,159 ) — (1,159 ) Goodwill associated with disposed reporting units: Goodwill allocated to Provision for impairment (1,779 ) 1,779 — (9,913 ) 9,913 — Goodwill allocated to Gain on sale of real estate (2,219 ) 936 (1,283 ) (4,454 ) — (4,454 ) End of year balance $ 310,388 (2,954 ) 307,434 316,858 (2,715 ) 314,143 During the year ended December 31, 2019, the Company recognized a $3.0 million provision for impairment of goodwill on two reporting units due to changes in the use and expected hold period of the operating properties. During the year ended December 31, 2018, the Company recognized $12.6 million provision for impairment of goodwill on ten reporting units 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. |
Goodwill | Goodwill Goodwill represents the excess of the purchase price consideration for the Equity One merger 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 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. |
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. The adoption of Topic 842 on January 1, 2019 changed the treatment of leasing costs, such that non-contingent internal leasing and legal costs associated with leasing activities can no longer be capitalized. 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. |
Derivative Financial Instruments | (g) Derivative Financial 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 financial instruments. Specifically, the Company enters into derivative financial 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 financial instruments are used to manage differences 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 also utilizes 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 (“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. |
Income Taxes | (h) 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 stockholders are at least equal to REIT taxable income. Each wholly-owned corporate subsidiary of the Operating Partnership has elected to be a TRS as defined in Section 856(l) of the Code. 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 99.6% 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 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 (2015 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. The Tax Cuts and Jobs Act (the “Act”) was signed into law in December 2017. Key provisions in the Act have significant financial statement effects. These effects include remeasurement of deferred taxes, recognition of liabilities for taxes on mandatory deemed repatriation and certain other foreign income, and reassessment of the realizability of deferred tax assets. Because the asset and liability approach under ASC 740 requires companies to recognize the effect of tax law changes in the period of enactment, the effects were recognized in the Company's December 2017 financial statements, even though the effective date of the law for most provisions is January 1, 2018. The Company calculated the tax impact of the change in tax law. The revaluation of the deferred tax assets and liabilities at the appropriate tax rate resulted in a $9.7 million benefit recognized in earnings for 2017. To the extent that all information necessary was not available, prepared or analyzed, companies were allotted a measurement period to make adjustments for the effect of the law. The Company completed its analysis of the Act during 2018 and recorded an immaterial benefit in earnings. |
Lease Obligations | (i) 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. Upon the adoption of Topic 842, the Company recognized Lease liabilities on its Consolidated Balance Sheets for its ground and office leases of $225.4 million at January 1, 2019, and corresponding Right of use assets of $297.8 million, net of or including the opening balance for straight-line rent and above / below market ground lease intangibles related to these same ground and office 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 continue to be recognized on a straight-line basis over the term of the leases, including management's estimate of expected option 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 | (j) 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 | ( k ) 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 a like 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 | (l ) 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 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 reviews operating and financial data for each property on an individual basis; 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 | ( m ) Business Concentration Grocer anchor tenants represent approximately 23% of Pro-rata annual base rent. No single tenant accounts for 5% or more of revenue and none of the shopping centers are located outside the United States. |
Fair Value of Assets and Liabilities | ( n ) Fair Value of Assets and Liabilities Fair value is a market-based measurement, not an entity-specific measurement. 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. • 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 remeasures 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 remeasurement event occurs. |
Reclassifications | ( o ) Reclassifications Certain prior year amounts have been reclassified to conform to current year presentation, including amounts in Lease income and Other property income in the accompanying Consolidated Statements of Operations. |
Recent Accounting Pronouncements | ( p ) 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: Leases (Topic 842) and related updates: Leases (Topic 842) Codification Improvements to Topic 842, Leases Targeted Improvements ASU 2018-20, December 2018, Leases (Topic 842): Narrow-Scope Improvements for Lessors ASU 2019-01, March 2019, Leases (Topic 842): Codification Improvements Topic 842 amends the existing accounting standards for lease accounting, including requiring lessees to recognize most leases on their balance sheets. It also makes targeted changes to lessor accounting. January 2019 The Company has completed its evaluation and adoption of this standard, as discussed in Note 1. The Company utilized the alternative modified retrospective transition method provided in ASU 2018-11 (the “effective date method”), under which the effective date of January 1, 2019, is also the date of initial application. Standard Description Date of adoption Effect on the financial statements or other significant matters Not yet adopted: ASU 2016-13, June 2016, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments This ASU replaces the incurred loss impairment methodology in current GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. January 2020 The Company has evaluated this ASU and, based on the nature of financial instruments within scope of the standard, has determined that the impact of adoption is limited to recognizing impairments of available-for-sale debt securities in earnings. The Company’s available-for-sale debt securities have a fair value of $10.8 million at December 31, 2019, as seen in note 11. Additional disclosures, if material, are also required. ASU 2018-19, November 2018: Codification Improvements to Topic 326, Financial Instruments - Credit Losses This ASU clarifies that receivables arising from operating leases are not within the scope of Subtopic 326-20. Instead, impairment of receivables arising from operating leases should be accounted for in accordance with Topic 842, Leases. January 2020 The adoption of this ASU will not have a material impact on the Company’s financial statements and related disclosures. ASU 2018-13, August 2018: Fair Value Measurements (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement This ASU modifies the disclosure requirements for fair value measurements within the scope of Topic 820, Fair Value Measurements January 2020 The Company has evaluated the impact of adopting this new accounting standard, whose impact is limited to fair value measurement disclosures. Based on the nature of the Company’s fair value measurements and disclosure requirements, the adoption of this standard is not expected to have an impact on the Company’s financial statements or related disclosures. ASU 2018-15, August 2018, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract The amendments in this ASU align the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). The ASU provides further clarification of the appropriate presentation of capitalized costs, the period over which to recognize the expense, the presentation within the Statements of Operations and Statements of Cash Flows, and the disclosure requirements. January 2020 The Company has evaluated the accounting standard, which is consistent with existing practice, and therefore it will not have a material impact on the Company’s financial statements and related disclosures. |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies Recent Accounting Pronouncements (Policies) | 12 Months Ended |
Dec. 31, 2019 | |
Organization Consolidation And Presentation Of Financial Statements [Abstract] | |
Recent Accounting Pronouncements | ( p ) 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: Leases (Topic 842) and related updates: Leases (Topic 842) Codification Improvements to Topic 842, Leases Targeted Improvements ASU 2018-20, December 2018, Leases (Topic 842): Narrow-Scope Improvements for Lessors ASU 2019-01, March 2019, Leases (Topic 842): Codification Improvements Topic 842 amends the existing accounting standards for lease accounting, including requiring lessees to recognize most leases on their balance sheets. It also makes targeted changes to lessor accounting. January 2019 The Company has completed its evaluation and adoption of this standard, as discussed in Note 1. The Company utilized the alternative modified retrospective transition method provided in ASU 2018-11 (the “effective date method”), under which the effective date of January 1, 2019, is also the date of initial application. Standard Description Date of adoption Effect on the financial statements or other significant matters Not yet adopted: ASU 2016-13, June 2016, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments This ASU replaces the incurred loss impairment methodology in current GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. January 2020 The Company has evaluated this ASU and, based on the nature of financial instruments within scope of the standard, has determined that the impact of adoption is limited to recognizing impairments of available-for-sale debt securities in earnings. The Company’s available-for-sale debt securities have a fair value of $10.8 million at December 31, 2019, as seen in note 11. Additional disclosures, if material, are also required. ASU 2018-19, November 2018: Codification Improvements to Topic 326, Financial Instruments - Credit Losses This ASU clarifies that receivables arising from operating leases are not within the scope of Subtopic 326-20. Instead, impairment of receivables arising from operating leases should be accounted for in accordance with Topic 842, Leases. January 2020 The adoption of this ASU will not have a material impact on the Company’s financial statements and related disclosures. ASU 2018-13, August 2018: Fair Value Measurements (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement This ASU modifies the disclosure requirements for fair value measurements within the scope of Topic 820, Fair Value Measurements January 2020 The Company has evaluated the impact of adopting this new accounting standard, whose impact is limited to fair value measurement disclosures. Based on the nature of the Company’s fair value measurements and disclosure requirements, the adoption of this standard is not expected to have an impact on the Company’s financial statements or related disclosures. ASU 2018-15, August 2018, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract The amendments in this ASU align the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). The ASU provides further clarification of the appropriate presentation of capitalized costs, the period over which to recognize the expense, the presentation within the Statements of Operations and Statements of Cash Flows, and the disclosure requirements. January 2020 The Company has evaluated the accounting standard, which is consistent with existing practice, and therefore it will not have a material impact on the Company’s financial statements and related disclosures. |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Accounting Changes And Error Corrections [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, 2019 December 31, 2018 Assets Net real estate investments $ 325,464 112,085 Cash, cash equivalents, and restricted cash 57,269 7,309 Liabilities Notes payable 17,740 18,432 Equity Limited partners’ interests in consolidated partnerships 30,655 30,280 |
Components of Tenant and Other Receivables | The following table represents the components of Tenant and other receivables in the accompanying Consolidated Balance Sheets: December 31, (in thousands) 2019 2018 Billed tenant receivables $ 24,906 25,590 Accrued CAM, insurance and tax reimbursements 10,620 25,305 Other receivables 26,724 30,953 Straight-line rent receivables 107,087 105,677 Less: allowance for doubtful accounts (1) — (10,100 ) Less: straight-line rent reserves (1) — (5,066 ) Total tenant and other receivables, net $ 169,337 172,359 (1) Beginning with the adoption of ASC 842, Leases, on January 1, 2019, uncollectible lease income is a direct charge against Lease income and the related receivable. Prior to 2019, uncollectible lease income was recorded as Provision for doubtful accounts included in Other operating expenses. |
Provisions for Doubtful Accounts | The Company recorded the following provisions for doubtful accounts: Year ended December 31, (in thousands) 2018 2017 Gross provision for doubtful accounts 4,993 3,992 Provision for straight line rent reserve 1,741 1,129 |
Revenues and Other Receivables | All income from management service contracts is included within Management, transaction and other fees on the Consolidated Statements of Operations. Additionally, Other property income, which includes incidental income from the properties, is generally recognized at the point in time that the performance obligation is met. The primary components of these revenue streams, the timing of satisfying the performance obligations, and amounts recognized are as follows: Year ended December 31, (in thousands) Timing of satisfaction of performance obligations 2019 2018 2017 Other property income Point in time $ 9,201 8,711 7,982 Management, transaction, and other fees: Property management services Over time 14,744 14,663 13,917 Asset management services Over time 7,135 7,213 7,090 Leasing services Point in time 3,692 4,044 3,573 Other transaction fees Point in time 4,065 2,574 1,578 Total management, transaction, and other fees $ 29,636 28,494 26,158 |
Property, Plant and Equipment | The following table details the components of Real estate assets in the Consolidated Balance Sheets: (in thousands) December 31, 2019 December 31, 2018 Land $ 4,288,695 $ 4,205,445 Land improvements 607,624 613,847 Buildings 5,101,061 5,088,102 Building and tenant improvements 946,034 901,596 Construction in progress 151,880 54,172 Total real estate assets $ 11,095,294 10,863,162 |
Schedule of New Accounting Pronouncements and Changes in Accounting Principles | ( p ) 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: Leases (Topic 842) and related updates: Leases (Topic 842) Codification Improvements to Topic 842, Leases Targeted Improvements ASU 2018-20, December 2018, Leases (Topic 842): Narrow-Scope Improvements for Lessors ASU 2019-01, March 2019, Leases (Topic 842): Codification Improvements Topic 842 amends the existing accounting standards for lease accounting, including requiring lessees to recognize most leases on their balance sheets. It also makes targeted changes to lessor accounting. January 2019 The Company has completed its evaluation and adoption of this standard, as discussed in Note 1. The Company utilized the alternative modified retrospective transition method provided in ASU 2018-11 (the “effective date method”), under which the effective date of January 1, 2019, is also the date of initial application. Standard Description Date of adoption Effect on the financial statements or other significant matters Not yet adopted: ASU 2016-13, June 2016, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments This ASU replaces the incurred loss impairment methodology in current GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. January 2020 The Company has evaluated this ASU and, based on the nature of financial instruments within scope of the standard, has determined that the impact of adoption is limited to recognizing impairments of available-for-sale debt securities in earnings. The Company’s available-for-sale debt securities have a fair value of $10.8 million at December 31, 2019, as seen in note 11. Additional disclosures, if material, are also required. ASU 2018-19, November 2018: Codification Improvements to Topic 326, Financial Instruments - Credit Losses This ASU clarifies that receivables arising from operating leases are not within the scope of Subtopic 326-20. Instead, impairment of receivables arising from operating leases should be accounted for in accordance with Topic 842, Leases. January 2020 The adoption of this ASU will not have a material impact on the Company’s financial statements and related disclosures. ASU 2018-13, August 2018: Fair Value Measurements (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement This ASU modifies the disclosure requirements for fair value measurements within the scope of Topic 820, Fair Value Measurements January 2020 The Company has evaluated the impact of adopting this new accounting standard, whose impact is limited to fair value measurement disclosures. Based on the nature of the Company’s fair value measurements and disclosure requirements, the adoption of this standard is not expected to have an impact on the Company’s financial statements or related disclosures. ASU 2018-15, August 2018, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract The amendments in this ASU align the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). The ASU provides further clarification of the appropriate presentation of capitalized costs, the period over which to recognize the expense, the presentation within the Statements of Operations and Statements of Cash Flows, and the disclosure requirements. January 2020 The Company has evaluated the accounting standard, which is consistent with existing practice, and therefore it will not have a material impact on the Company’s financial statements and related disclosures. |
Real Estate Investments (Tables
Real Estate Investments (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Business Acquisition [Line Items] | |
Schedule of business acquisitions | The following tables detail the shopping centers acquired or land acquired for development or redevelopment: (in thousands) December 31, 2019 Date Purchased Property Name City/State Property Type Purchase Price Debt Assumed, Net of Premiums Intangible Assets Intangible Liabilities 1/8/2019 Pablo Plaza (1) Jacksonville, FL Operating $ 600 — — — 2/8/2019 Melrose Market Seattle, WA Operating 15,515 — 941 358 6/18/2019 The Field at Commonwealth Ph II (2) Chantilly, VA Development 4,083 — — — 6/21/2019 Culver Public Market Culver City, CA Development 1,279 — — — 6/28/2019 6401 Roosevelt Seattle, WA Operating 3,550 — — — 7/1/2019 The Pruneyard Campbell, CA Operating 212,500 — 16,991 5,833 9/17/2019 Circle Marina Center Long Beach, CA Operating 50,000 — 3,717 962 Total property acquisitions $ 287,527 — 21,649 7,153 (1) The Company purchased a land parcel adjacent to the Company’s existing operating Pablo Plaza for redevelopment. (2) The Company purchased The Field at Commonwealth Ph II, which is land adjacent to an existing operating property, for future development. (in thousands) December 31, 2018 Date Purchased Property Name City/State Property Type Purchase Price Debt Assumed, Net of Premiums Intangible Assets Intangible Liabilities 01/10/18 Hewlett Crossing I & II Hewlett, NY Operating $ 30,900 9,700 3,114 1,868 04/03/18 Rivertowns Square Dobbs Ferry, NY Operating 68,933 — 4,993 5,554 12/14/18 Pablo Plaza (1) Jacksonville, FL Operating 1,310 — — — 12/27/18 The Village at Hunter's Lake Tampa, FL Development 1,812 — — — 12/31/18 Carytown Exchange (2) Richmond, VA Development 13,284 — 264 — Total property acquisitions $ 116,239 9,700 8,371 7,422 (1) The Company purchased a 5,000 square foot building adjacent to the Company's existing operating Pablo Plaza for redevelopment. (2) The Company closed on the Carytown Exchange development, with a partner contributing land valued at $13 million which is recorded within Limited partners' interest in consolidated partnerships in the accompanying Consolidated Balance Sheets. |
Business Acquisition, Pro Forma Information | The consolidated net assets and results of operations of Equity One are included in the consolidated financial statements from the closing date, March 1, 2017, going forward and resulted in the following impact to Revenues and Net income attributable to common stockholders: (in thousands) Year ended December 31, 2017 Increase in total revenues $ 337,761 Increase in net income attributable to common stockholders $ 81,766 |
Pro Forma [Member] | Equity One Inc. [Member] | |
Business Acquisition [Line Items] | |
Business Acquisition, Pro Forma Information | The following unaudited pro forma financial data includes the incremental revenues, operating expenses, depreciation and amortization, and costs of the Equity One acquisition as if it had occurred on January 1, 2016: (in thousands, except per share data) Year ended December 31, 2017 Total revenues $ 1,052,221 Income from operations (1) 281,393 Net income attributable to common stockholders (1) 262,270 Income per common share - basic 1.54 Income per common share - diluted 1.54 (1) The pro forma earnings for the year ended December 31, 2017, were adjusted to exclude $103.6 million of merger costs, as if they had occurred during 2016. |
Property Dispositions (Tables)
Property Dispositions (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Discontinued Operations And Disposal Groups [Abstract] | |
Schedule of Properties Disposed of | The following table provides a summary of consolidated shopping centers and land parcels disposed of during the periods set forth below: Year ended December 31, (in thousands, except number sold data) 2019 2018 2017 Net proceeds from sale of real estate investments $ 137,572 250,445 110,015 Gain on sale of real estate, net of tax $ 24,242 28,343 27,432 Provision for impairment of real estate sold $ 1,836 31,041 — Number of operating properties sold 7 10 6 Number of land parcels sold 6 9 9 |
Investments in Real Estate Pa_2
Investments in Real Estate Partnerships (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Schedule of Equity Method Investments [Line Items] | |
Schedule of Equity Method Investments | The Company invests in real estate partnerships, which consist of the following: December 31, 2019 (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% 68 $ 187,597 1,612,459 43,536 96,721 New York Common Retirement Fund (NYC) (1) 30.00% 6 41,422 260,512 (9,967 ) (5,832 ) Columbia Regency Retail Partners, LLC (Columbia I) 20.00% 7 9,201 139,253 1,626 8,406 Columbia Regency Partners II, LLC (Columbia II) 20.00% 13 39,453 385,960 1,748 8,742 Cameron Village, LLC (Cameron) 30.00% 1 10,641 96,101 1,062 3,572 RegCal, LLC (RegCal) 25.00% 6 26,417 109,226 3,796 16,276 US Regency Retail I, LLC (USAA) (2) 20.01% 7 — 87,231 1,028 5,137 Other investments in real estate partnerships (3) 18.38% - 50.00% 8 154,791 468,142 18,127 38,182 Total investments in real estate partnerships 116 $ 469,522 3,158,884 60,956 171,204 (1) During the third quarter of 2019, a $10.9 million impairment of real estate was recognized within the NYC partnership from changes in the expected hold periods of various properties. (2) The USAA partnership has distributed proceeds from debt refinancing and real estate sales in excess of Regency’s carrying value of its investment resulting in a negative investment balance of $3.9 million, which is recorded within Accounts Payable and other liabilities in the Consolidated Balance Sheets. ( 3 ) Includes our investment in the Town and Country shopping center, which began with an initial 9.38% ownership percent in 2018, with an additional 9.0% interest acquired during 2019. In January 2020, we purchased our remaining 16.62% interest, bringing our total ownership interest to 35%. December 31, 2018 (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% 70 $ 189,381 1,646,448 29,614 74,139 New York Common Retirement Fund (NYC) 30.00% 6 54,250 277,626 490 2,239 Columbia Regency Retail Partners, LLC (Columbia I) 20.00% 7 13,625 141,807 1,311 6,650 Columbia Regency Partners II, LLC (Columbia II) 20.00% 13 38,110 377,121 4,673 23,367 Cameron Village, LLC (Cameron) 30.00% 1 11,169 98,633 943 3,177 RegCal, LLC (RegCal) 25.00% 7 31,235 139,844 1,542 6,167 US Regency Retail I, LLC (USAA) (1) 20.01% 7 — 89,524 937 4,685 Other investments in real estate partnerships 9.38% - 50.00% 9 125,231 456,828 3,464 8,661 Total investments in real estate partnerships 120 $ 463,001 3,227,831 42,974 129,085 ( 1 ) The summarized balance sheet information for the investments in real estate partnerships, on a combined basis, is as follows: December 31, (in thousands) 2019 2018 Investments in real estate, net $ 2,917,415 3,001,481 Acquired lease intangible assets, net 40,549 57,053 Other assets 200,920 169,297 Total assets $ 3,158,884 3,227,831 Notes payable $ 1,577,467 1,609,647 Acquired lease intangible liabilities, net 44,387 49,501 Other liabilities 96,388 90,577 Capital - Regency 508,875 498,852 Capital - Third parties 931,767 979,254 Total liabilities and capital $ 3,158,884 3,227,831 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) 2019 2018 Capital - Regency $ 508,875 498,852 Basis difference (43,296 ) (39,364 ) Negative investment in USAA (1) 3,943 3,513 Investments in real estate partnerships $ 469,522 463,001 (1) 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) 2019 2018 2017 Total revenues $ 417,053 414,631 396,596 Operating expenses: Depreciation and amortization 97,844 99,847 99,327 Operating and maintenance 65,811 66,299 58,283 General and administrative 6,201 5,697 5,582 Real estate taxes 53,410 54,119 49,904 Other operating expenses 2,709 2,700 4,574 Total operating expenses $ 225,975 228,662 217,670 Other expense (income): Interest expense, net 75,449 73,508 73,244 Gain on sale of real estate (64,798 ) (16,624 ) (34,276 ) Provision for impairment, net of tax 9,223 — — Total other expense (income) 19,874 56,884 38,968 Net income of the Partnerships $ 171,204 129,085 139,958 The Company's share of net income of the Partnerships $ 60,956 42,974 43,341 Acquisitions The following table provides a summary of shopping centers and land parcels acquired through our unconsolidated real estate partnerships, which had no such acquisitions in 2019: (in thousands) Year ended December 31, 2018 Date Purchased Property Name City/State Property Type Co-investment Partner Ownership % Purchase Price Debt Assumed, Net of Premiums Intangible Assets Intangible Liabilities 01/02/18 Ballard Blocks I Seattle, WA Operating Other 49.90 % $ 54,500 — 3,668 2,350 01/02/18 Ballard Blocks II Seattle, WA Development Other 49.90 % 4,000 — — — 01/05/18 The District at Metuchen Metuchen, NJ Operating Columbia II 20.00 % 33,830 — 3,147 1,905 05/18/18 Crossroads Commons II Boulder, CO Operating Columbia I 20.00 % 10,500 — 447 769 09/07/18 Ridgewood Shopping Center Raleigh, NC Operating Columbia II 20.00 % 45,800 10,233 3,372 2,278 12/17/18 Shoppes at Bartram Park Jacksonville, FL Operating (1) Other 50.00 % 984 — — — 12/14/18 Town and Country Center Los Angeles, CA Operating Other 9.38 % 197,248 90,000 3,255 5,650 Total property acquisitions $ 346,862 100,233 13,889 12,952 (1) Land parcels purchased as additions to the existing operating property. 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) 2019 2018 2017 Proceeds from sale of real estate investments $ 142,754 27,144 73,122 Gain on sale of real estate $ 64,798 16,624 34,276 The Company's share of gain on sale of real estate $ 29,422 3,608 6,591 Number of operating properties sold 4 1 3 Number of land out-parcels sold — 2 1 Notes Payable Scheduled principal repayments on notes payable held by our unconsolidated investments in real estate partnerships as of December 31, 2019 were as follows: (in thousands) Scheduled Principal Payments and Maturities by Year: Scheduled Principal Payments Mortgage Loan Maturities Unsecured Maturities Total Regency’s Pro-Rata Share 2020 $ 17,043 338,608 — 355,651 115,953 2021 11,048 269,942 19,635 300,625 104,375 2022 7,811 170,702 — 178,513 68,417 2023 2,989 171,608 — 174,597 65,096 2024 1,513 33,690 — 35,203 14,160 Beyond 5 Years 6,555 534,233 — 540,788 160,472 Net unamortized loan costs, debt premium / (discount) — (7,910 ) — (7,910 ) (2,425 ) Total notes payable $ 46,959 1,510,873 19,635 1,577,467 526,048 These fixed and variable rate loans are all non-recourse to the partnerships, and mature through 2034, with 91.4% having a weighted average fixed interest rate of 4.48%. The remaining notes payable float over LIBOR and had a weighted average variable interest rate of 3.95% at December 31, 2019. Maturing loans will be repaid from proceeds from refinancing, partner capital contributions, or a combination thereof. 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 co-investment partner was unable to fund its share of the capital requirements of the co-investment partnership, the Company would have the right, but not the obligation, to loan the defaulting partner the amount of its capital call. |
Schedule of Properties Disposed of | The following table provides a summary of consolidated shopping centers and land parcels disposed of during the periods set forth below: Year ended December 31, (in thousands, except number sold data) 2019 2018 2017 Net proceeds from sale of real estate investments $ 137,572 250,445 110,015 Gain on sale of real estate, net of tax $ 24,242 28,343 27,432 Provision for impairment of real estate sold $ 1,836 31,041 — Number of operating properties sold 7 10 6 Number of land parcels sold 6 9 9 |
Schedule of Related Party Transactions | Management fee income In addition to earning our Pro-rata share of net income or loss in each of these co-investment partnerships, we receive fees, as follows: Year ended December 31, (in thousands) 2019 2018 2017 Asset management, property management, leasing, and investment and financing services $ 28,878 27,873 25,260 |
Unconsolidated Properties [Member] | |
Schedule of Equity Method Investments [Line Items] | |
Schedule of Business Acquisitions, by Acquisition | (in thousands) Year ended December 31, 2018 Date Purchased Property Name City/State Property Type Co-investment Partner Ownership % Purchase Price Debt Assumed, Net of Premiums Intangible Assets Intangible Liabilities 01/02/18 Ballard Blocks I Seattle, WA Operating Other 49.90 % $ 54,500 — 3,668 2,350 01/02/18 Ballard Blocks II Seattle, WA Development Other 49.90 % 4,000 — — — 01/05/18 The District at Metuchen Metuchen, NJ Operating Columbia II 20.00 % 33,830 — 3,147 1,905 05/18/18 Crossroads Commons II Boulder, CO Operating Columbia I 20.00 % 10,500 — 447 769 09/07/18 Ridgewood Shopping Center Raleigh, NC Operating Columbia II 20.00 % 45,800 10,233 3,372 2,278 12/17/18 Shoppes at Bartram Park Jacksonville, FL Operating (1) Other 50.00 % 984 — — — 12/14/18 Town and Country Center Los Angeles, CA Operating Other 9.38 % 197,248 90,000 3,255 5,650 Total property acquisitions $ 346,862 100,233 13,889 12,952 (1) Land parcels purchased as additions to the existing operating property. |
Schedule of Properties Disposed of | 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) 2019 2018 2017 Proceeds from sale of real estate investments $ 142,754 27,144 73,122 Gain on sale of real estate $ 64,798 16,624 34,276 The Company's share of gain on sale of real estate $ 29,422 3,608 6,591 Number of operating properties sold 4 1 3 Number of land out-parcels sold — 2 1 |
Other Assets (Tables)
Other Assets (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Other Assets [Abstract] | |
Schedule of Other Assets | The following table represents the components of Other assets in the accompanying Consolidated Balance Sheets: (in thousands) December 31, 2019 December 31, 2018 Goodwill $ 307,434 314,143 Investments 50,354 41,287 Prepaid and other 18,169 17,937 Derivative assets 2,987 17,482 Furniture, fixtures, and equipment, net 7,098 6,127 Deferred financing costs, net 4,687 6,851 Total other assets $ 390,729 403,827 |
Schedule of Goodwill | The following table presents the goodwill balances and activity during the year to date periods ended: December 31, 2019 December 31, 2018 (in thousands) Goodwill Accumulated Impairment Losses Total Goodwill Accumulated Impairment Losses Total Beginning of year balance $ 316,858 (2,715 ) 314,143 331,884 — 331,884 Goodwill resulting from Equity One merger — — — 500 — 500 Goodwill allocated to Provision for impairment — (2,954 ) (2,954 ) — (12,628 ) (12,628 ) Goodwill allocated to Properties held for sale (2,472 ) — (2,472 ) (1,159 ) — (1,159 ) Goodwill associated with disposed reporting units: Goodwill allocated to Provision for impairment (1,779 ) 1,779 — (9,913 ) 9,913 — Goodwill allocated to Gain on sale of real estate (2,219 ) 936 (1,283 ) (4,454 ) — (4,454 ) End of year balance $ 310,388 (2,954 ) 307,434 316,858 (2,715 ) 314,143 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 (Tab
Acquired Lease Intangibles (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |
Schedule of Net Accumulated Amortization and Accretion | The Company had the following acquired lease intangibles: December 31, (in thousands) 2019 2018 In-place leases $ 438,188 $ 457,379 Above-market leases 63,944 57,294 Below-market ground leases (1) — 92,085 Total intangible assets $ 502,132 606,758 Accumulated amortization (259,310 ) (219,689 ) Acquired lease intangible assets, net $ 242,822 387,069 Below-market leases 558,936 $ 584,371 Above-market ground leases (1) — 5,101 Total intangible liabilities 558,936 589,472 Accumulated amortization (131,676 ) (92,746 ) Acquired lease intangible liabilities, net $ 427,260 496,726 (1) On January 1, 2019, the Company adopted the new accounting guidance in ASC Topic 842, Leases, The following table provides a summary of amortization and net accretion amounts from acquired lease intangibles: Year ended December 31, (in thousands) 2019 2018 2017 Line item in Consolidated Statements of Operations In-place lease amortization $ 60,250 76,649 88,284 Depreciation and amortization Above-market lease amortization 9,112 10,433 9,443 Lease income Below-market ground lease amortization (1) — 1,688 1,886 Operating and maintenance Acquired lease intangible asset amortization $ 69,362 88,770 99,613 Below-market lease amortization $ 54,730 45,561 34,786 Lease income Above-market ground lease amortization (1) — 94 136 Operating and maintenance Acquired lease intangible liability amortization $ 54,730 45,655 34,922 (1) On January 1, 2019, the Company adopted the new accounting guidance in ASC Topic 842, Leases, |
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 December 31, Amortization of In-place lease intangibles Net accretion of Above / Below market lease intangibles 2020 42,998 $ 37,593 2021 32,551 24,120 2022 24,928 22,228 2023 19,682 21,379 2024 15,395 19,346 |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Leases [Abstract] | |
Operating Lease, Lease Income | The following table provides a disaggregation of lease income recognized under ASC Topic 842, Leases (in thousands) December 31, 2019 Operating lease income Fixed and in-substance fixed lease income $ 806,442 Variable lease income 247,861 Other lease related income, net: Above/below market rent and tenant rent inducement amortization 45,392 Uncollectible amounts in lease income (5,394 ) Total lease income $ 1,094,301 |
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, 2019 2020 $ 775,723 2021 706,016 2022 615,224 2023 511,104 2024 411,308 Thereafter 1,500,745 Total $ 4,520,120 (in thousands) For the year ended December 31, December 31, 2018 2019 $ 761,151 2020 693,848 2021 608,587 2022 516,369 2023 414,424 Thereafter 1,691,203 Total $ 4,685,582 |
Lessee, Operating Lease Costs, Description | Operating lease expense under the Company's ground and office leases was 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, 2019 Fixed operating lease expense Ground leases $ 13,982 Office leases 4,229 Total fixed operating lease expense 18,211 Vaiable lease expense Ground leases 1,693 Office leases 552 Total variable lease expense 2,245 Total lease expense $ 20,456 Cash paid for amounts included in the measurement of operating lease liabilities Operating cash flows for operating leases $ 14,815 |
Lessee, Operating Lease, Liability, Maturity | The following table summarizes the undiscounted future cash flows by year attributable to the operating lease liabilities under ground and office leases as of December 31, 2019, 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 2020 $ 10,697 5,152 15,849 2021 10,671 4,149 14,820 2022 10,698 3,188 13,886 2023 10,915 2,410 13,325 2024 10,964 1,939 12,903 Thereafter 553,116 4,404 557,520 Total undiscounted lease liabilities $ 607,061 21,242 628,303 Present value discount (403,237 ) (2,148 ) (405,385 ) Lease liabilities $ 203,824 19,094 222,918 Weighted average discount rate 5.2 % 3.9 % Weighted average remaining term (in years) 49.2 5.5 |
Schedule of Future Minimum Rental Payments for Operating Leases | The following table summarizes the future obligations under non-cancelable operating leases, excluding unexercised renewal options, as of December 31, 2018: (in thousands) Future Lease Obligations For the year ended December 31, Ground Leases Office Leases Total 2019 $ 10,672 4,405 15,077 2020 10,439 4,294 14,733 2021 10,344 3,549 13,893 2022 10,258 2,893 13,151 2023 10,369 2,189 12,558 Thereafter 461,762 5,944 467,706 Total $ 513,844 23,274 537,118 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Income Tax Disclosure [Abstract] | |
Schedule of Tax Status of Dividends | The following table summarizes the tax status of dividends paid on our common shares: Year ended December 31, (in thousands) 2019 2018 2017 Dividend per share $ 2.34 2.22 2.10 Ordinary income 97 % 98 % 86 % Capital gain 3 % — % 10 % Return of capital — % — % 4 % Qualified dividend income — % 2 % — % Section 199A dividend 97 % 98 % — % |
Schedule of Components of Income Tax Expense (Benefit) | Our consolidated expense (benefit) for income taxes for the years ended December 31, 2019, 2018, and 2017 was as follows: Year ended December 31, (in thousands) 2019 2018 2017 Income tax expense (benefit): Current $ 1,576 5,667 1,168 Deferred (331 ) (5,145 ) (10,815 ) Total income tax expense (benefit) (1) $ 1,245 522 (9,647 ) (1) Includes $757,000, $706,000 and $90,000 of tax expense presented within Other operating expenses during the years ended December 31, 2019, 2018, and 2017, respectively. Additionally, $488,000 and ($184,000) of tax expense (benefit) is presented within Gain on sale of real estate (or Provision for impairment), net of tax, during the years ended December 31, 2019 and 2018, respectively. |
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) 2019 2018 2017 Computed expected tax expense (benefit) $ 1,587 (584 ) 1,190 State income tax, net of federal benefit 650 636 108 Valuation allowance (91 ) (392 ) (1,512 ) Tax rate change — — (9,737 ) Permanent items (819 ) 1,067 — All other items (82 ) (205 ) 304 Total income tax expense (benefit) (1) 1,245 522 (9,647 ) Income tax expense (benefit) attributable to operations (1) $ 1,245 522 (9,647 ) (1) Includes $757,000, $706,000, and $90,000 of tax expense presented within Other operating expenses during the years ended December 31, 2019, 2018, and 2017, respectively. Additionally, $488,000 and ($184,000) of tax expense (benefit) is presented within Gain on sale of real estate (or Provision for impairment), net of tax, during the years ended December 31, 2019 and 2018, respectively. |
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) 2019 2018 Deferred tax assets Provision for impairment $ — 3,785 Deferred interest expense 1,341 2,617 Capitalized costs under Section 263A — 713 Net operating loss carryforward 106 166 Other 88 2,123 Deferred tax assets 1,535 9,404 Valuation allowance (680 ) (7,907 ) Deferred tax assets, net $ 855 1,497 Deferred tax liabilities Straight line rent $ (100 ) (565 ) Fixed assets (14,404 ) (14,829 ) Deferred tax liabilities (14,504 ) (15,394 ) Net deferred tax liabilities $ (13,649 ) (13,897 ) |
Notes Payable and Unsecured C_2
Notes Payable and Unsecured Credit Facilities (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Debt Disclosure [Abstract] | |
Schedule of Debt | The Company’s outstanding debt consists of the following: Maturing Through Weighted Average Contractual Rate Weighted Average Effective Rate December 31, (in thousands) 2019 2018 Notes payable: Fixed rate mortgage loans 10/1/2036 4.4% 4.0% $ 342,020 $ 403,306 Variable rate mortgage loans (1) 6/2/2027 3.2% 3.3% 148,389 127,850 Fixed rate unsecured public and private debt 3/15/2049 3.9% 4.1% 2,944,752 2,475,322 Total notes payable $ 3,435,161 3,006,478 Unsecured credit facilities: Line of Credit (2) 3/23/2022 2.7% 2.9% $ 220,000 $ 145,000 Term Loans 1/5/2022 2.0% 2.1% 264,383 563,734 Total unsecured credit facilities $ 484,383 708,734 Total debt outstanding $ 3,919,544 3,715,212 (1) Includes six mortgages, whose interest varies on LIBOR based formulas. Four of these variable rate loans have interest rate swaps in place to fix the interest rates at a range of 2.5% to 4.1%. The weighted average contractual and effective rates above are based on the rates with the interest rate swaps. (2) Maturity is subject to two six month extensions at the Company's option. The weighted average contractual and effective interest rates for the Line are calculated based on a fully drawn Line balance. |
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, 2019 Scheduled Principal Payments and Maturities by Year: Scheduled Principal Payments Mortgage Loan Maturities Unsecured Maturities (1) Total 2020 $ 11,285 39,074 — 50,359 2021 11,598 74,101 — 85,699 2022 11,797 5,848 785,000 802,645 2023 10,124 59,374 — 69,498 2024 5,301 90,742 250,000 346,043 Beyond 5 Years 21,712 145,303 2,425,000 2,592,015 Unamortized debt premium/(discount) and issuance costs — 4,150 (30,865 ) (26,715 ) Total notes payable $ 71,817 418,592 3,429,135 3,919,544 (1) Includes unsecured public and private debt and unsecured credit facilities. |
Derivative Financial Instrume_2
Derivative Financial Instruments (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
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 Date Maturity Date Notional Amount Bank Pays Variable Rate of Regency Pays Fixed Rate of 2019 2018 12/6/18 6/28/19 $ 250,000 30 year U.S. Treasury (2) 3.147 % $ — $ (5,491 ) 4/3/17 12/2/20 300,000 1 Month LIBOR with Floor (3) 1.824 % — 3,759 8/1/16 1/5/22 265,000 1 Month LIBOR with Floor 1.053 % 2,674 10,838 4/7/16 4/1/23 19,767 1 Month LIBOR 1.303 % 148 880 12/1/16 11/1/23 32,952 1 Month LIBOR 1.490 % 84 1,376 9/17/19 3/17/25 24,000 1 Month LIBOR 1.542 % 81 — 6/2/17 6/2/27 37,166 1 Month LIBOR with Floor 2.366 % (1,515 ) 629 Total derivative financial instruments $ 1,472 11,991 (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) On March 7, 2019, the Company settled its 30 year Treasury rate lock in connection with its issuance of the $300 million 4.65% unsecured notes due March 2049 for $5.7 million, which is included in the balance of Accumulated other comprehensive income (loss) ("AOCI") and will be amortized and reclassified to earnings over the 30 year term of the hedged transaction. (3) On August 14, 2019, the Company paid an interest rate swap breakage fee of approximately $1.1 million to settle its interest rate swap in connection with the repayment in full of its $300 million term loan that was due to mature in December 2020. This breakage fee is included in Early extinguishment of debt in the accompanying Consolidated Statements of Operations. |
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) Recognized in OCI on Derivative Location and Amount of Gain (Loss) Reclassified from AOCI into Income Total amounts presented in the Consolidated Statements of Operations in which the effects of cash flow hedges are recorded Year ended December 31, Year ended December 31, Year ended December 31, (in thousands) 2019 2018 2017 2019 2018 2017 2019 2018 2017 Interest rate swaps $ (15,585 ) 402 1,151 Interest expense, net $ 3,269 5,342 11,103 Interest expense, net $ 151,264 148,456 132,629 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
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 approximates their fair values, except for the following: December 31, 2019 2018 (in thousands) Carrying Amount Fair Value Carrying Amount Fair Value Financial liabilities: Notes payable $ 3,435,161 3,688,604 $ 3,006,478 2,961,769 Unsecured credit facilities $ 484,383 489,496 $ 708,734 710,902 |
Summary of assets measured on recurring basis | The following table presents 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, 2019 (in thousands) Balance Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Securities $ 39,599 39,599 — — Available-for-sale debt securities 10,755 — 10,755 — Interest rate derivatives 2,987 — 2,987 — Total $ 53,341 39,599 13,742 — Liabilities: Interest rate derivatives $ (1,515 ) — (1,515 ) — Fair Value Measurements as of December 31, 2018 (in thousands) Balance Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Securities $ 33,354 33,354 — — Available-for-sale debt securities 7,933 — 7,933 — Interest rate derivatives 17,482 — 17,482 — Total $ 58,769 33,354 25,415 — Liabilities: Interest rate derivatives $ (5,491 ) — (5,491 ) — |
Summary of assets measured on non-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 non-recurring basis: Fair Value Measurements as of December 31, 2019 (in thousands) Balance Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Gains (Losses) Operating properties $ 71,131 — 28,131 43,000 (50,553 ) Fair Value Measurements as of December 31, 2018 (in thousands) Balance Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Gains (Losses) Operating properties $ 42,760 — 42,760 — (6,579 ) |
Equity and Capital (Tables)
Equity and Capital (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Equity And Capital [Abstract] | |
Schedule of Partnership Units Outstanding | The Parent Company, as general partner, owned the following Partnership Units outstanding: December 31, (in thousands) 2019 2018 Partnership units owned by the general partner 167,571 167,904 Partnership units owned by the limited partners 746 350 Total partnership units outstanding 168,317 168,254 Percentage of partnership units owned by the general partner 99.6 % 99.8 % |
Stock-Based Compensation (Table
Stock-Based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure Of Compensation Related Costs Sharebased Payments [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) 2019 2018 2017 Restricted stock (1) $ 16,254 16,745 15,525 Directors' fees paid in common stock (1) 410 399 303 Capitalized stock-based compensation (2) (2,325 ) (3,509 ) (3,210 ) Stock based compensation attributable to post-combination service from Equity One merger — — 7,931 Stock-based compensation, net of capitalization $ 14,339 13,635 20,549 (1) Includes amortization of the grant date fair value of restricted stock awards over the respective vesting periods. (2) Includes compensation expense specifically identifiable to development and redevelopment activities. During 2018 and 2017, these amounts also include compensation expense specifically identifiable to leasing activities, as non-contingent internal leasing costs were capitalizable prior to the adoption of Topic 842, Leases |
Schedule of Nonvested Share Activity | The following table summarizes non-vested restricted stock activity: Year ended December 31, 2019 Number of Shares Intrinsic Value (in thousands) Weighted Average Grant Price Non-vested as of December 31, 2018 595,171 Time-based awards granted (1) (4) 122,488 $ 65.21 Performance-based awards granted (2) (4) 11,722 $ 65.00 Market-based awards granted (3) (4) 121,225 $ 65.03 Change in market-based awards earned for performance (3) 53,865 $ 64.58 Vested (5) (272,827 ) $ 64.82 Forfeited (8,554 ) $ 65.30 Non-vested as of December 31, 2019 (6) 623,090 $ 39,311 (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) (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, 2019 2018 2017 Volatility 19.30 % 19.20 % 18.00 % Risk free interest rate 2.43 % 2.26 % 1.48 % (4) The weighted-average grant price for restricted stock granted during the years is summarized below: Year ended December 31, 2019 2018 2017 Weighted-average grant price for restricted stock $ 65.11 $ 63.50 $ 72.05 (5) Year ended December 31, 2019 2018 2017 Intrinsic value of restricted stock vested $ 17,684 $ 17,306 $ 14,376 (6) As of December 31, 2019 there was $12.9 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, 2019 | |
Compensation And Retirement Disclosure [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) 2019 2018 Location in Consolidated Balance Sheets Assets: Securities $ 36,849 31,351 Other assets Liabilities: Deferred compensation obligation $ 36,755 31,166 Accounts payable and other liabilities |
Earnings per Share and Unit (Ta
Earnings per Share and Unit (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
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) 2019 2018 2017 Numerator: Income attributable to common stockholders - basic $ 239,430 $ 249,127 159,949 Income attributable to common stockholders - diluted $ 239,430 $ 249,127 159,949 Denominator: Weighted average common shares outstanding for basic EPS 167,526 169,724 159,536 Weighted average common shares outstanding for diluted EPS (1) (2) 167,771 170,100 159,960 Income per common share – basic $ 1.43 $ 1.47 1.00 Income per common share – diluted $ 1.43 $ 1.46 1.00 (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 excludes 1.9 million and 1.3 million shares issuable under the forward ATM equity offering and the forward equity offering outstanding during 2019 and 2017, respectively, 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: Year ended December 31, (in thousands, except per share data) 2019 2018 2017 Numerator: Income attributable to common unit holders - basic $ 240,064 $ 249,652 160,337 Income attributable to common unit holders - diluted $ 240,064 $ 249,652 160,337 Denominator: Weighted average common units outstanding for basic EPU 167,990 170,074 159,831 Weighted average common units outstanding for diluted EPU (1) (2) 168,235 170,450 160,255 Income per common unit – basic $ 1.43 $ 1.47 1.00 Income per common unit – diluted $ 1.43 $ 1.46 1.00 (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 excludes 1.9 million and 1.3 million shares issuable under the forward ATM equity offering and the forward equity offering outstanding during 2019 and 2017, respectively, as they would be anti-dilutive. |
Summary of Quarterly Financia_2
Summary of Quarterly Financial Data (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Quarterly Financial Information Disclosure [Abstract] | |
Quarterly Financial Information | The following table summarizes selected Quarterly Financial Data for the Company on a historical basis for the years ended December 31, 2019 and 2018: (in thousands except per share and per unit data) First Quarter Second Quarter Third Quarter Fourth Quarter Year ended December 31, 2019 Operating Data: Revenue $ 286,257 275,872 282,276 288,733 Net income attributable to common stockholders $ 90,446 51,728 56,965 40,291 Net income attributable to exchangeable operating partnership units 190 109 157 178 Net income attributable to common unit holders $ 90,636 51,837 57,122 40,469 Net income attributable to common stock and unit holders per share and unit: Basic $ 0.54 0.31 0.34 0.24 Diluted $ 0.54 0.31 0.34 0.24 Year ended December 31, 2018 Operating Data: Revenue $ 276,693 281,412 278,310 284,560 Net income attributable to common stockholders $ 52,660 47,841 69,722 78,904 Net income attributable to exchangeable operating partnership units 111 100 147 167 Net income attributable to common unit holders $ 52,771 47,941 69,869 79,071 Net income attributable to common stock and unit holders per share and unit: Basic $ 0.31 0.28 0.41 0.47 Diluted $ 0.31 0.28 0.41 0.46 |
Summary of Significant Accoun_5
Summary of Significant Accounting Policies - Organization and Principles of Consolidation (Details) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019USD ($)retail_shopping_centerTenantAccountShoppingCentershares | Dec. 31, 2018USD ($)shares | Dec. 31, 2017USD ($) | |
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | |||
Unsecured public and private notes | $ 500,000 | ||
General Partners' Capital Account, Units Outstanding | shares | 167,571,000 | 167,904,000 | |
Partners' Capital Account, Units | shares | 168,317,000 | 168,254,000 | |
Maximum Period Of Time In Which Company Capitalizes Interest Costs | 12 months | ||
Tax Basis of Investments, Unrealized Appreciation (Depreciation), Net | $ 2,800,000 | $ 2,800,000 | |
Restricted Cash and Cash Equivalents | $ 2,542 | 2,658 | |
Cash and cash equivalents and restricted original maturity | 90 days or less | ||
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount | $ 0 | 0 | $ 9,737 |
Concentration risk, percentage | 23.00% | ||
Number of tenant | TenantAccount | 0 | ||
Number of shopping center. | ShoppingCenter | 0 | ||
Parent Company [Member] | |||
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | |||
Restricted Cash and Cash Equivalents | $ 2,500 | $ 2,700 | |
Maximum [Member] | |||
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | |||
Concentration risk, percentage | 5.00% | ||
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 | ||
Tenant Improvements [Member] | |||
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | |||
Property, Plant and Equipment, Useful Life | 10 years | ||
Furniture and Equipment [Member] | Minimum [Member] | |||
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | |||
Property, Plant and Equipment, Useful Life | 3 years | ||
Furniture and Equipment [Member] | Maximum [Member] | |||
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | |||
Property, Plant and Equipment, Useful Life | 7 years | ||
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 | 99.60% | ||
General Partners' Capital Account, Units Outstanding | shares | 167,571,218 | ||
Parent Company, Ownership Percentage of Outstanding Common Partnership Units of Operating Partnership | 99.60% | 99.60% | |
Wholly Owned Properties [Member] | |||
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | |||
Number of real estate properties | retail_shopping_center | 303 | ||
Unconsolidated Properties [Member] | |||
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | |||
Number of real estate properties | retail_shopping_center | 116 |
Summary of Significant Accoun_6
Summary of Significant Accounting Policies Schedule of Variable Interest Entities (Details) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019USD ($)retail_shopping_center | Dec. 31, 2018USD ($) | |
Variable Interest Entity [Line Items] | ||
Noncontrolling Interest in Variable Interest Entity | $ 30,655 | $ 30,280 |
Variable Interest Entity, Primary Beneficiary [Member] | ||
Variable Interest Entity [Line Items] | ||
Variable Interest Entity, Consolidated, Carrying Amount, Liabilities | 17,740 | 18,432 |
Real Estate [Member] | Variable Interest Entity, Primary Beneficiary [Member] | ||
Variable Interest Entity [Line Items] | ||
Variable Interest Entity, Consolidated, Carrying Amount, Assets | 325,464 | 112,085 |
Cash and Cash Equivalents [Member] | Variable Interest Entity, Primary Beneficiary [Member] | ||
Variable Interest Entity [Line Items] | ||
Variable Interest Entity, Consolidated, Carrying Amount, Assets | $ 57,269 | $ 7,309 |
Minimum [Member] | ||
Variable Interest Entity [Line Items] | ||
Expected useful lives of the properties and other intangible assets | 10 years | |
Maximum [Member] | ||
Variable Interest Entity [Line Items] | ||
Expected useful lives of the properties and other intangible assets | 40 years | |
Partially Owned Properties [Member] | ||
Variable Interest Entity [Line Items] | ||
Number of real estate properties | retail_shopping_center | 127 | |
Consolidated Properties [Member] | ||
Variable Interest Entity [Line Items] | ||
Number of real estate properties | retail_shopping_center | 11 |
Summary of Significant Accoun_7
Summary of Significant Accounting Policies Revenues and Tenant and Other Receivables (Details) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2019USD ($)ft² | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Jan. 01, 2019USD ($) | |
Schedule of management, transaction, and other fees [Line Items] | ||||
Accrued CAM, insurance and tax reimbursements | $ 10,620 | $ 25,305 | ||
Straight-line rent receivables | 107,087 | 105,677 | ||
Provision for Doubtful Accounts | (10,100) | |||
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | $ 30,903 | |||
Other property income | 9,201 | 8,711 | 7,982 | |
Management, transaction, and other fees | 29,636 | 28,494 | 26,158 | |
Tenant and other receivables (note 1) | 169,337 | 172,359 | ||
Lease liabilities | 222,918 | 0 | $ 225,400 | |
Right of use assets, net | 292,786 | 0 | $ 297,800 | |
Management, transaction, and other fee [Member] | ||||
Schedule of management, transaction, and other fees [Line Items] | ||||
Tenant and other receivables (note 1) | 11,600 | 12,500 | ||
Property management services [Member] | ||||
Schedule of management, transaction, and other fees [Line Items] | ||||
Management, transaction, and other fees | 14,744 | 14,663 | 13,917 | |
Asset management services [Member] | ||||
Schedule of management, transaction, and other fees [Line Items] | ||||
Management, transaction, and other fees | 7,135 | 7,213 | 7,090 | |
Leasing services [Member] | ||||
Schedule of management, transaction, and other fees [Line Items] | ||||
Management, transaction, and other fees | 3,692 | 4,044 | 3,573 | |
Other transaction fees [Member] | ||||
Schedule of management, transaction, and other fees [Line Items] | ||||
Management, transaction, and other fees | 4,065 | 2,574 | $ 1,578 | |
Accounting Standards Update 2017-05 [Member] | ||||
Schedule of management, transaction, and other fees [Line Items] | ||||
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | 30,900 | |||
Parent Company [Member] | ||||
Schedule of management, transaction, and other fees [Line Items] | ||||
Accounts and Notes Receivable, Net | 169,337 | 172,359 | ||
Billed Tenant Receivables [Member] | ||||
Schedule of management, transaction, and other fees [Line Items] | ||||
Accounts and Notes Receivable, Net | 24,906 | 25,590 | ||
Other Receivable [Member] | ||||
Schedule of management, transaction, and other fees [Line Items] | ||||
Accounts and Notes Receivable, Net | $ 26,724 | 30,953 | ||
straight line rent [Member] | ||||
Schedule of management, transaction, and other fees [Line Items] | ||||
Provision for Doubtful Accounts | $ (5,066) | |||
Leases less than 10,000 sqft [Member] | ||||
Schedule of management, transaction, and other fees [Line Items] | ||||
Operating leases, tenant space terms | ft² | 10,000 | |||
Leases greater then 10,000 sqft [Member] | ||||
Schedule of management, transaction, and other fees [Line Items] | ||||
Operating leases, tenant space terms | ft² | 10,000 | |||
Minimum [Member] | ||||
Schedule of management, transaction, and other fees [Line Items] | ||||
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] | ||||
Schedule of management, transaction, and other fees [Line Items] | ||||
Operating leases, lease year range | 7 years |
Summary of Significant Accoun_8
Summary of Significant Accounting Policies Provision for Doubtful Accounts (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Accounting Policies [Abstract] | ||
Allowance for Doubtful Accounts Receivable, Period Increase (Decrease) | $ 4,993 | $ 3,992 |
Provision for Loan and Lease Losses | $ 1,741 | $ 1,129 |
Summary of Significant Accoun_9
Summary of Significant Accounting Policies - Properties in Development (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Property Plant And Equipment [Line Items] | |||
Total real estate assets | $ 11,095,294 | $ 10,863,162 | |
Other Cost and Expense, Operating | 2,500 | 1,900 | $ 1,500 |
Refundable deposits - development | |||
Property Plant And Equipment [Line Items] | |||
Nonrefundable deposits and other predevelopment costs | 17,700 | 10,600 | |
Parent Company [Member] | |||
Property Plant And Equipment [Line Items] | |||
Land | 4,288,695 | 4,205,445 | |
Land improvements | 607,624 | 613,847 | |
Buildings | 5,101,061 | 5,088,102 | |
Building and tenant improvements | 946,034 | 901,596 | |
Construction in progress | 151,880 | 54,172 | |
Total real estate assets | $ 11,095,294 | $ 10,863,162 |
Summary of Significant Accou_10
Summary of Significant Accounting Policies Recent Accounting Pronouncements (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | $ 30,903 | ||
Accounting Standards Update 2016-02 [Member] | Salaries expense [Member] | |||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | $ 6,500 | 10,400 | |
Accounting Standards Update 2016-02 [Member] | Legal expense [Member] | |||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | $ 1,600 | $ 1,200 | |
Accounting Standards Update 2016-13 [Member] | |||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Available-for-sale debt securities at fair value | $ 10,800 |
Real Estate Investments Busines
Real Estate Investments Business Acquisitions (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Business Acquisition [Line Items] | ||
Purchase Price | $ 287,527 | $ 116,239 |
Debt Assumed, Net of Premiums | 0 | 9,700 |
Off-Market Favorable Lease [Member] | ||
Business Acquisition [Line Items] | ||
Intangible Assets | 21,649 | 8,371 |
Off-Market Lease, Unfavorable [Member] | ||
Business Acquisition [Line Items] | ||
Intangible Assets | $ 7,153 | $ 7,422 |
Pablo Plaza [Member] | ||
Business Acquisition [Line Items] | ||
Date Purchased | Jan. 8, 2019 | Dec. 14, 2018 |
Property Name | Pablo Plaza (1) | Pablo Plaza (1) |
City/State | Jacksonville, FL | Jacksonville, FL |
Purchase Price | $ 600 | $ 1,310 |
Debt Assumed, Net of Premiums | 0 | 0 |
Pablo Plaza [Member] | Off-Market Favorable Lease [Member] | ||
Business Acquisition [Line Items] | ||
Intangible Assets | 0 | 0 |
Pablo Plaza [Member] | Off-Market Lease, Unfavorable [Member] | ||
Business Acquisition [Line Items] | ||
Intangible Assets | $ 0 | $ 0 |
Melrose Market [Member] | ||
Business Acquisition [Line Items] | ||
Date Purchased | Feb. 8, 2019 | |
Property Name | Melrose Market | |
City/State | Seattle, WA | |
Purchase Price | $ 15,515 | |
Debt Assumed, Net of Premiums | 0 | |
Melrose Market [Member] | Off-Market Favorable Lease [Member] | ||
Business Acquisition [Line Items] | ||
Intangible Assets | 941 | |
Melrose Market [Member] | Off-Market Lease, Unfavorable [Member] | ||
Business Acquisition [Line Items] | ||
Intangible Assets | $ 358 | |
The Field at Commonwealth Ph II [Member] | ||
Business Acquisition [Line Items] | ||
Date Purchased | Jun. 18, 2019 | |
Property Name | The Field at Commonwealth Ph II (2) | |
City/State | Chantilly, VA | |
Purchase Price | $ 4,083 | |
Debt Assumed, Net of Premiums | 0 | |
The Field at Commonwealth Ph II [Member] | Off-Market Favorable Lease [Member] | ||
Business Acquisition [Line Items] | ||
Intangible Assets | 0 | |
The Field at Commonwealth Ph II [Member] | Off-Market Lease, Unfavorable [Member] | ||
Business Acquisition [Line Items] | ||
Intangible Assets | $ 0 | |
Culver Public Market [Member] | ||
Business Acquisition [Line Items] | ||
Date Purchased | Jun. 21, 2019 | |
Property Name | Culver Public Market | |
City/State | Culver City, CA | |
Purchase Price | $ 1,279 | |
Debt Assumed, Net of Premiums | 0 | |
Culver Public Market [Member] | Off-Market Favorable Lease [Member] | ||
Business Acquisition [Line Items] | ||
Intangible Assets | 0 | |
Culver Public Market [Member] | Off-Market Lease, Unfavorable [Member] | ||
Business Acquisition [Line Items] | ||
Intangible Assets | $ 0 | |
6401 Roosevelt [Member] | ||
Business Acquisition [Line Items] | ||
Date Purchased | Jun. 28, 2019 | |
Property Name | 6401 Roosevelt | |
City/State | Seattle, WA | |
Purchase Price | $ 3,550 | |
Debt Assumed, Net of Premiums | 0 | |
6401 Roosevelt [Member] | Off-Market Favorable Lease [Member] | ||
Business Acquisition [Line Items] | ||
Intangible Assets | 0 | |
6401 Roosevelt [Member] | Off-Market Lease, Unfavorable [Member] | ||
Business Acquisition [Line Items] | ||
Intangible Assets | $ 0 | |
The Pruneyard [Member] | ||
Business Acquisition [Line Items] | ||
Date Purchased | Jul. 1, 2019 | |
Property Name | The Pruneyard | |
City/State | Campbell, CA | |
Purchase Price | $ 212,500 | |
Debt Assumed, Net of Premiums | 0 | |
The Pruneyard [Member] | Off-Market Favorable Lease [Member] | ||
Business Acquisition [Line Items] | ||
Intangible Assets | 16,991 | |
The Pruneyard [Member] | Off-Market Lease, Unfavorable [Member] | ||
Business Acquisition [Line Items] | ||
Intangible Assets | $ 5,833 | |
Circle Marina Center [Member] | ||
Business Acquisition [Line Items] | ||
Date Purchased | Sep. 17, 2019 | |
Property Name | Circle Marina Center | |
City/State | Long Beach, CA | |
Purchase Price | $ 50,000 | |
Debt Assumed, Net of Premiums | 0 | |
Circle Marina Center [Member] | Off-Market Favorable Lease [Member] | ||
Business Acquisition [Line Items] | ||
Intangible Assets | 3,717 | |
Circle Marina Center [Member] | Off-Market Lease, Unfavorable [Member] | ||
Business Acquisition [Line Items] | ||
Intangible Assets | $ 962 | |
Hewlett Crossing I & II [Member] | ||
Business Acquisition [Line Items] | ||
Date Purchased | Jan. 10, 2018 | |
Property Name | Hewlett Crossing I & II | |
City/State | Hewlett, NY | |
Purchase Price | $ 30,900 | |
Debt Assumed, Net of Premiums | 9,700 | |
Hewlett Crossing I & II [Member] | Off-Market Favorable Lease [Member] | ||
Business Acquisition [Line Items] | ||
Intangible Assets | 3,114 | |
Hewlett Crossing I & II [Member] | Off-Market Lease, Unfavorable [Member] | ||
Business Acquisition [Line Items] | ||
Intangible Assets | $ 1,868 | |
Rivertowns Square [Member] | ||
Business Acquisition [Line Items] | ||
Date Purchased | Apr. 3, 2018 | |
Property Name | Rivertowns Square | |
City/State | Dobbs Ferry, NY | |
Purchase Price | $ 68,933 | |
Debt Assumed, Net of Premiums | 0 | |
Rivertowns Square [Member] | Off-Market Favorable Lease [Member] | ||
Business Acquisition [Line Items] | ||
Intangible Assets | 4,993 | |
Rivertowns Square [Member] | Off-Market Lease, Unfavorable [Member] | ||
Business Acquisition [Line Items] | ||
Intangible Assets | $ 5,554 | |
Village at Hunter's Lake [Member] | ||
Business Acquisition [Line Items] | ||
Date Purchased | Dec. 27, 2018 | |
Property Name | The Village at Hunter's Lake | |
City/State | Tampa, FL | |
Purchase Price | $ 1,812 | |
Debt Assumed, Net of Premiums | 0 | |
Village at Hunter's Lake [Member] | Off-Market Favorable Lease [Member] | ||
Business Acquisition [Line Items] | ||
Intangible Assets | 0 | |
Village at Hunter's Lake [Member] | Off-Market Lease, Unfavorable [Member] | ||
Business Acquisition [Line Items] | ||
Intangible Assets | $ 0 | |
Carytown Exchange [Member] | ||
Business Acquisition [Line Items] | ||
Date Purchased | Dec. 31, 2018 | |
Property Name | Carytown Exchange (2) | |
City/State | Richmond, VA | |
Purchase Price | $ 13,284 | |
Debt Assumed, Net of Premiums | 0 | |
Carytown Exchange [Member] | Off-Market Favorable Lease [Member] | ||
Business Acquisition [Line Items] | ||
Intangible Assets | 264 | |
Carytown Exchange [Member] | Off-Market Lease, Unfavorable [Member] | ||
Business Acquisition [Line Items] | ||
Intangible Assets | $ 0 |
Real Estate Investments Assets
Real Estate Investments Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Business Combinations [Abstract] | ||
Total liabilities assumed | $ 0 | $ 9,700 |
Real Estate Investments Busin_2
Real Estate Investments Business Acquisitions (Parenthetical) (Details) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($)ft² | Dec. 31, 2017USD ($) | |
Business Acquisition [Line Items] | |||
Contributions from partners | $ 2,151 | $ 13,000 | $ 13,478 |
Pablo Plaza [Member] | |||
Business Acquisition [Line Items] | |||
Purchase of building for redevelopment | ft² | 5,000 | ||
Carytown Exchange [Member] | |||
Business Acquisition [Line Items] | |||
Contributions from partners | $ 13,000 |
Real Estate Investments (Detail
Real Estate Investments (Details) shares in Millions, $ in Billions | Mar. 01, 2017USD ($)property | Dec. 31, 2019shares |
Parent Company [Member] | ||
Business Acquisition [Line Items] | ||
Conversion of Stock, Conversion Ratio | 0.45 | |
Stock Issued During Period, Shares, Acquisitions | shares | 65.5 | |
Equity One Inc. [Member] | ||
Business Acquisition [Line Items] | ||
Business Combination, Consideration Transferred | $ | $ 5.2 | |
Number of real estate properties acquired | 121 | |
Equity One Inc. [Member] | Partially Owned Properties [Member] | ||
Business Acquisition [Line Items] | ||
Number of real estate properties acquired | 8 |
Real Estate Investments Proform
Real Estate Investments Proforma (Details) $ / shares in Units, $ in Thousands | 12 Months Ended |
Dec. 31, 2017USD ($)$ / shares | |
Business Acquisition Pro Forma Information [Line Items] | |
Business Combination, Separately Recognized Transactions, Additional Disclosures, Acquisition Cost Expensed | $ 80,700 |
Total revenues | 1,052,221 |
Income from operations | 281,393 |
Net income attributable to common stockholders | $ 262,270 |
Income per common share - basic | $ / shares | $ 1.54 |
Income per common share - diluted | $ / shares | $ 1.54 |
Equity One Inc. [Member] | |
Business Acquisition Pro Forma Information [Line Items] | |
Increase in total revenues | $ 337,761 |
Increase in net income attributable to common stockholders | $ 81,766 |
Real Estate Investments Profo_2
Real Estate Investments Proforma (Parenthetical) (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2016USD ($) | |
Business Combinations [Abstract] | |
Merger costs | $ 103.6 |
Property Dispositions (Details)
Property Dispositions (Details) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019USD ($)property | Dec. 31, 2018USD ($)property | Dec. 31, 2017USD ($)property | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Net proceeds from sale of real estate investments | $ 137,572 | $ 250,445 | $ 110,015 |
Gain on sale of real estate, net of tax | 24,242 | 28,343 | 27,432 |
Provision for impairment, net of tax | $ 54,174 | 38,437 | $ 0 |
Number of properties held for sale | property | 1 | ||
Real Estate Sold [Member] | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Provision for impairment, net of tax | $ 1,836 | $ 31,041 | |
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 | 7 | 10 | 6 |
Land [Member] | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Number of real estate properties sold | property | 6 | 9 | 9 |
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, 2019USD ($)property | Dec. 31, 2018USD ($)property | Dec. 31, 2017USD ($) | |||
Schedule of Equity Method Investments [Line Items] | |||||
Ownership Percentage | 0.00% | 0.00% | |||
Real Estate Partnerships, Number of Properties | property | 116 | 120 | |||
Investments in real estate partnerships | $ 469,522 | $ 463,001 | |||
Total Assets of the Partnership | 3,158,884 | 3,227,831 | |||
Income (Loss) from Equity Method Investments | 60,956 | 42,974 | $ 43,341 | ||
Net Income (Loss) of the Partnership | $ 171,204 | $ 129,085 | $ 139,958 | ||
GRI - Regency, LLC [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Ownership Percentage | 40.00% | 40.00% | |||
Real Estate Partnerships, Number of Properties | property | 68 | 70 | |||
Investments in real estate partnerships | $ 187,597 | $ 189,381 | |||
Total Assets of the Partnership | 1,612,459 | 1,646,448 | |||
Income (Loss) from Equity Method Investments | 43,536 | 29,614 | |||
Net Income (Loss) of the Partnership | $ 96,721 | $ 74,139 | |||
Equity One JV Portfolio, LLC [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Ownership Percentage | 30.00% | [1] | 30.00% | ||
Real Estate Partnerships, Number of Properties | property | 6 | [1] | 6 | ||
Investments in real estate partnerships | $ 41,422 | [1] | $ 54,250 | ||
Total Assets of the Partnership | 260,512 | [1] | 277,626 | ||
Income (Loss) from Equity Method Investments | (9,967) | [1] | 490 | ||
Net Income (Loss) of the Partnership | $ (5,832) | [1] | $ 2,239 | ||
Columbia Regency Retail Partners, LLC [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Ownership Percentage | 20.00% | 20.00% | |||
Real Estate Partnerships, Number of Properties | property | 7 | 7 | |||
Investments in real estate partnerships | $ 9,201 | $ 13,625 | |||
Total Assets of the Partnership | 139,253 | 141,807 | |||
Income (Loss) from Equity Method Investments | 1,626 | 1,311 | |||
Net Income (Loss) of the Partnership | $ 8,406 | $ 6,650 | |||
Columbia Regency Retail Partners, LLC [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Ownership Percentage | 20.00% | 20.00% | |||
Real Estate Partnerships, Number of Properties | property | 13 | 13 | |||
Investments in real estate partnerships | $ 39,453 | $ 38,110 | |||
Total Assets of the Partnership | 385,960 | 377,121 | |||
Income (Loss) from Equity Method Investments | 1,748 | 4,673 | |||
Net Income (Loss) of the Partnership | $ 8,742 | $ 23,367 | |||
Cameron Village, LLC [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Ownership Percentage | 30.00% | 30.00% | |||
Real Estate Partnerships, Number of Properties | property | 1 | 1 | |||
Investments in real estate partnerships | $ 10,641 | $ 11,169 | |||
Total Assets of the Partnership | 96,101 | 98,633 | |||
Income (Loss) from Equity Method Investments | 1,062 | 943 | |||
Net Income (Loss) of the Partnership | $ 3,572 | $ 3,177 | |||
RegCal, LLC [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Ownership Percentage | 25.00% | 25.00% | |||
Real Estate Partnerships, Number of Properties | property | 6 | 7 | |||
Investments in real estate partnerships | $ 26,417 | $ 31,235 | |||
Total Assets of the Partnership | 109,226 | 139,844 | |||
Income (Loss) from Equity Method Investments | 3,796 | 1,542 | |||
Net Income (Loss) of the Partnership | $ 16,276 | $ 6,167 | |||
US Regency Retail 1, LLC [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Ownership Percentage | [2] | 20.01% | 20.01% | ||
Real Estate Partnerships, Number of Properties | property | [2] | 7 | 7 | ||
Investments in real estate partnerships | [2] | $ 0 | $ 0 | ||
Total Assets of the Partnership | [2] | 87,231 | 89,524 | ||
Income (Loss) from Equity Method Investments | [2] | 1,028 | 937 | ||
Net Income (Loss) of the Partnership | [2] | $ 5,137 | $ 4,685 | ||
Other Investments in Real Estate Partnerships [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Ownership Percentage | 35.00% | 9.38% | |||
Real Estate Partnerships, Number of Properties | property | 8 | [3] | 9 | ||
Investments in real estate partnerships | $ 154,791 | [3] | $ 125,231 | ||
Total Assets of the Partnership | 468,142 | [3] | 456,828 | ||
Income (Loss) from Equity Method Investments | 18,127 | [3] | 3,464 | ||
Net Income (Loss) of the Partnership | $ 38,182 | [3] | $ 8,661 | ||
Other Investments in Real Estate Partnerships [Member] | Minimum [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Ownership Percentage | 18.38% | [3] | 9.375% | ||
Other Investments in Real Estate Partnerships [Member] | Maximum [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Ownership Percentage | 50.00% | [3] | 50.00% | ||
[1] | During the third quarter of 2019, a $10.9 million impairment of real estate was recognized within the NYC partnership from changes in the expected hold periods of various properties. | ||||
[2] | The USAA partnership has distributed proceeds from debt refinancing and real estate sales in excess of Regency’s carrying value of its investment resulting in a negative investment balance of $3.9 million, which is recorded within Accounts Payable and other liabilities in the Consolidated Balance Sheets. | ||||
[3] | Includes our investment in the Town and Country shopping center, which began with an initial 9.38% ownership percent in 2018, with an additional 9.0% interest acquired during 2019. In January 2020, we purchased our remaining 16.62% interest, bringing our total ownership interest to 35%. |
Investments in Real Estate Pa_4
Investments in Real Estate Partnerships - Schedule of Investments in Real Estate Partnerships (Parenthetical) (Details) - USD ($) $ in Thousands | 1 Months Ended | 3 Months Ended | 12 Months Ended | ||||||
Dec. 31, 2019 | Sep. 30, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Jan. 31, 2020 | ||||
Schedule of Equity Method Investments [Line Items] | |||||||||
Provision for impairment, net of tax | $ 54,174 | $ 38,437 | $ 0 | ||||||
Ownership Percentage | 0.00% | 0.00% | 0.00% | ||||||
Equity One JV Portfolio, LLC [Member] | |||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||
Provision for impairment, net of tax | $ (10,900) | ||||||||
Ownership Percentage | 30.00% | [1] | 30.00% | [1] | 30.00% | ||||
US Regency Retail 1, LLC [Member] | |||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||
Ownership Percentage | [2] | 20.01% | 20.01% | 20.01% | |||||
US Regency Retail 1, LLC [Member] | Accounts Payable and Accrued Liabilities [Member] | |||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||
Negative Investment Balance | $ 3,900 | ||||||||
Other Investments in Real Estate Partnerships [Member] | |||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||
Ownership Percentage | 35.00% | 35.00% | 9.38% | ||||||
Additional Ownership Percentage Acquired | 9.00% | ||||||||
Other Investments in Real Estate Partnerships [Member] | Subsequent Event [Member] | |||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||
Ownership Percentage | 16.62% | ||||||||
[1] | During the third quarter of 2019, a $10.9 million impairment of real estate was recognized within the NYC partnership from changes in the expected hold periods of various properties. | ||||||||
[2] | The USAA partnership has distributed proceeds from debt refinancing and real estate sales in excess of Regency’s carrying value of its investment resulting in a negative investment balance of $3.9 million, which is recorded within Accounts Payable and other liabilities in the Consolidated Balance Sheets. |
Investments in Real Estate Pa_5
Investments in Real Estate Partnerships - Balance Sheet Summarized Financial Information (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 | |
Schedule of Equity Method Investments [Line Items] | |||
Investments in real estate, net | $ 2,917,415 | $ 3,001,481 | |
Acquired lease intangible assets, net | 40,549 | 57,053 | |
Other assets | 200,920 | 169,297 | |
Total assets | 3,158,884 | 3,227,831 | |
Notes payable | 1,577,467 | 1,609,647 | |
Acquired lease intangible liabilities, net | 44,387 | 49,501 | |
Other liabilities | 96,388 | 90,577 | |
Capital - Regency | 508,875 | 498,852 | |
Capital - Third parties | 931,767 | 979,254 | |
Total liabilities and capital | 3,158,884 | 3,227,831 | |
Investments in real estate partnerships (note 4) | 469,522 | 463,001 | |
US Regency Retail 1, LLC [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Total assets | [1] | 87,231 | 89,524 |
Investments in real estate partnerships (note 4) | [1] | 0 | 0 |
Other Liabilities [Member] | US Regency Retail 1, LLC [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Investments in real estate partnerships (note 4) | [2] | 3,943 | 3,513 |
Basis Difference [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Equity Method Investment, Difference Between Carrying Amount and Underlying Equity | $ (43,296) | $ (39,364) | |
[1] | The USAA partnership has distributed proceeds from debt refinancing and real estate sales in excess of Regency’s carrying value of its investment resulting in a negative investment balance of $3.9 million, which is recorded within Accounts Payable and other liabilities in the Consolidated Balance Sheets. | ||
[2] |
Investments in Real Estate Pa_6
Investments in Real Estate Partnerships - Income Statment Summarized Financial Information (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Revenues and expenses for the investments in real estate partnerships on a combined basis | |||
Total revenues | $ 417,053 | $ 414,631 | $ 396,596 |
Operating expenses: | |||
Depreciation and amortization | 97,844 | 99,847 | 99,327 |
Operating and maintenance | 65,811 | 66,299 | 58,283 |
General and administrative | 6,201 | 5,697 | 5,582 |
Real estate taxes | 53,410 | 54,119 | 49,904 |
Other operating expenses | 2,709 | 2,700 | 4,574 |
Total operating expenses | 225,975 | 228,662 | 217,670 |
Other expense (income): | |||
Interest expense, net | 75,449 | 73,508 | 73,244 |
Equity Method Investment, Summarized Financial Information, Gain Loss on Sale of Real Estate | (64,798) | (16,624) | (34,276) |
Provision for impairment, net of tax | 9,223 | 0 | 0 |
Total other expense (income) | 19,874 | 56,884 | 38,968 |
Net income (loss) | 171,204 | 129,085 | 139,958 |
Unconsolidated Properties [Member] | |||
Other expense (income): | |||
Income (Loss) from Equity Method Investments | $ 60,956 | $ 42,974 | $ 43,341 |
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, 2019 | Dec. 31, 2018 | ||
Business Acquisition [Line Items] | |||
Ownership Percentage | 0.00% | 0.00% | |
Purchase Price | $ 287,527 | $ 116,239 | |
Debt Assumed, Net of Premiums | 0 | 9,700 | |
Off-Market Lease, Unfavorable [Member] | |||
Business Acquisition [Line Items] | |||
Intangible Assets | 7,153 | 7,422 | |
Off-Market Favorable Lease [Member] | |||
Business Acquisition [Line Items] | |||
Intangible Assets | $ 21,649 | 8,371 | |
Unconsolidated Properties [Member] | |||
Business Acquisition [Line Items] | |||
Purchase Price | 346,862 | ||
Debt Assumed, Net of Premiums | 100,233 | ||
Unconsolidated Properties [Member] | Off-Market Lease, Unfavorable [Member] | |||
Business Acquisition [Line Items] | |||
Intangible Assets | 12,952 | ||
Unconsolidated Properties [Member] | Off-Market Favorable Lease [Member] | |||
Business Acquisition [Line Items] | |||
Intangible Assets | $ 13,889 | ||
Unconsolidated Properties [Member] | Ballard Blocks I [Member] | |||
Business Acquisition [Line Items] | |||
Date Purchased | Jan. 2, 2018 | ||
Property Name | Ballard Blocks I | ||
City/State | Seattle, WA | ||
Business Acquisition, Description of Acquired Entity | Operating | ||
Business Acquisition, Co-investment Partner | Other | ||
Ownership Percentage | 49.90% | ||
Purchase Price | $ 54,500 | ||
Unconsolidated Properties [Member] | Ballard Blocks I [Member] | Off-Market Lease, Unfavorable [Member] | |||
Business Acquisition [Line Items] | |||
Intangible Assets | 2,350 | ||
Unconsolidated Properties [Member] | Ballard Blocks I [Member] | Off-Market Favorable Lease [Member] | |||
Business Acquisition [Line Items] | |||
Intangible Assets | $ 3,668 | ||
Unconsolidated Properties [Member] | Ballard Blocks II [Member] | |||
Business Acquisition [Line Items] | |||
Date Purchased | Jan. 2, 2018 | ||
Property Name | Ballard Blocks II | ||
City/State | Seattle, WA | ||
Business Acquisition, Description of Acquired Entity | Development | ||
Business Acquisition, Co-investment Partner | Other | ||
Ownership Percentage | 49.90% | ||
Purchase Price | $ 4,000 | ||
Unconsolidated Properties [Member] | Metuchen [Member] | |||
Business Acquisition [Line Items] | |||
Date Purchased | Jan. 5, 2018 | ||
Property Name | The District at Metuchen | ||
City/State | Metuchen, NJ | ||
Business Acquisition, Description of Acquired Entity | Operating | ||
Business Acquisition, Co-investment Partner | Columbia II | ||
Ownership Percentage | 20.00% | ||
Purchase Price | $ 33,830 | ||
Unconsolidated Properties [Member] | Metuchen [Member] | Off-Market Lease, Unfavorable [Member] | |||
Business Acquisition [Line Items] | |||
Intangible Assets | 1,905 | ||
Unconsolidated Properties [Member] | Metuchen [Member] | Off-Market Favorable Lease [Member] | |||
Business Acquisition [Line Items] | |||
Intangible Assets | $ 3,147 | ||
Unconsolidated Properties [Member] | Crossroad Commons II [Member] | |||
Business Acquisition [Line Items] | |||
Date Purchased | May 18, 2018 | ||
Property Name | Crossroads Commons II | ||
City/State | Boulder, CO | ||
Business Acquisition, Description of Acquired Entity | Operating | ||
Business Acquisition, Co-investment Partner | Columbia I | ||
Ownership Percentage | 20.00% | ||
Purchase Price | $ 10,500 | ||
Unconsolidated Properties [Member] | Crossroad Commons II [Member] | Off-Market Lease, Unfavorable [Member] | |||
Business Acquisition [Line Items] | |||
Intangible Assets | 769 | ||
Unconsolidated Properties [Member] | Crossroad Commons II [Member] | Off-Market Favorable Lease [Member] | |||
Business Acquisition [Line Items] | |||
Intangible Assets | $ 447 | ||
Unconsolidated Properties [Member] | Ridgewood [Member] | |||
Business Acquisition [Line Items] | |||
Date Purchased | Sep. 7, 2018 | ||
Property Name | Ridgewood Shopping Center | ||
City/State | Raleigh, NC | ||
Business Acquisition, Description of Acquired Entity | Operating | ||
Business Acquisition, Co-investment Partner | Columbia II | ||
Ownership Percentage | 20.00% | ||
Purchase Price | $ 45,800 | ||
Debt Assumed, Net of Premiums | 10,233 | ||
Unconsolidated Properties [Member] | Ridgewood [Member] | Off-Market Lease, Unfavorable [Member] | |||
Business Acquisition [Line Items] | |||
Intangible Assets | 2,278 | ||
Unconsolidated Properties [Member] | Ridgewood [Member] | Off-Market Favorable Lease [Member] | |||
Business Acquisition [Line Items] | |||
Intangible Assets | $ 3,372 | ||
Unconsolidated Properties [Member] | Shoppes at Bartram Park [Member] | |||
Business Acquisition [Line Items] | |||
Date Purchased | Dec. 17, 2018 | ||
Property Name | Shoppes at Bartram Park | ||
City/State | Jacksonville, FL | ||
Business Acquisition, Description of Acquired Entity | [1] | Operating (1) | |
Business Acquisition, Co-investment Partner | Other | ||
Ownership Percentage | 50.00% | ||
Purchase Price | $ 984 | ||
Unconsolidated Properties [Member] | Town and Country [Member] | |||
Business Acquisition [Line Items] | |||
Date Purchased | Dec. 14, 2018 | ||
Property Name | Town and Country Center | ||
City/State | Los Angeles, CA | ||
Business Acquisition, Description of Acquired Entity | Operating | ||
Business Acquisition, Co-investment Partner | Other | ||
Ownership Percentage | 9.38% | ||
Purchase Price | $ 197,248 | ||
Debt Assumed, Net of Premiums | 90,000 | ||
Unconsolidated Properties [Member] | Town and Country [Member] | Off-Market Lease, Unfavorable [Member] | |||
Business Acquisition [Line Items] | |||
Intangible Assets | 5,650 | ||
Unconsolidated Properties [Member] | Town and Country [Member] | Off-Market Favorable Lease [Member] | |||
Business Acquisition [Line Items] | |||
Intangible Assets | $ 3,255 | ||
[1] | Land parcels purchased as additions to the existing operating property. |
Investments in Real Estate Pa_8
Investments in Real Estate Partnerships - Schedule of Dispositions (Details) - Unconsolidated Properties [Member] $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019USD ($)property | Dec. 31, 2018USD ($)property | Dec. 31, 2017USD ($)property | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Proceeds from Sale of Equity Method Investments | $ 142,754 | $ 27,144 | $ 73,122 |
Equity Method Investment, Realized Gain (Loss) on Disposal | 64,798 | 16,624 | 34,276 |
Equity Method Investment, Realized Gain (Loss) on Disposal, Parent Company's Share | $ 29,422 | $ 3,608 | $ 6,591 |
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 | 4 | 1 | 3 |
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 | 2 | 1 |
Investments in Real Estate Pa_9
Investments in Real Estate Partnerships - Scheduled Principal Payments (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Schedule of Equity Method Investments [Line Items] | ||
2020 | $ 50,359 | |
2021 | 85,699 | |
2022 | 802,645 | |
2023 | 69,498 | |
2024 | 346,043 | |
Beyond 5 Years | 2,592,015 | |
Unamortized debt discounts (premiums) | (26,715) | |
Long-term Debt | 3,919,544 | $ 3,715,212 |
Unsecured Debt [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
Long-term Debt | 2,944,752 | $ 2,475,322 |
Unconsolidated Investments in Partnership [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
2020 | 355,651 | |
2021 | 300,625 | |
2022 | 178,513 | |
2023 | 174,597 | |
2024 | 35,203 | |
Beyond 5 Years | 540,788 | |
Unamortized debt discounts (premiums) | (7,910) | |
Long-term Debt | 1,577,467 | |
Unconsolidated Investments in Partnership [Member] | Mortgages [Member] | Scheduled Principal Payments [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
2020 | 17,043 | |
2021 | 11,048 | |
2022 | 7,811 | |
2023 | 2,989 | |
2024 | 1,513 | |
Beyond 5 Years | 6,555 | |
Unamortized debt discounts (premiums) | 0 | |
Long-term Debt | 46,959 | |
Unconsolidated Investments in Partnership [Member] | Mortgages [Member] | Mortgage Loan Maturities [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
2020 | 338,608 | |
2021 | 269,942 | |
2022 | 170,702 | |
2023 | 171,608 | |
2024 | 33,690 | |
Beyond 5 Years | 534,233 | |
Unamortized debt discounts (premiums) | (7,910) | |
Long-term Debt | 1,510,873 | |
Unconsolidated Investments in Partnership [Member] | Unsecured Debt [Member] | Unsecured Maturities [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
2020 | 0 | |
2021 | 19,635 | |
2022 | 0 | |
2023 | 0 | |
2024 | 0 | |
Beyond 5 Years | 0 | |
Unamortized debt discounts (premiums) | 0 | |
Long-term Debt | 19,635 | |
Unconsolidated Investments in Partnership, Pro-rata Share [Member] [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
2020 | 115,953 | |
2021 | 104,375 | |
2022 | 68,417 | |
2023 | 65,096 | |
2024 | 14,160 | |
Beyond 5 Years | 160,472 | |
Unamortized debt discounts (premiums) | (2,425) | |
Long-term Debt | $ 526,048 |
Investments in Real Estate P_10
Investments in Real Estate Partnerships - Additional Information (Details) | 12 Months Ended |
Dec. 31, 2019 | |
Debt Instrument [Line Items] | |
Debt instrument, interest rate, basis for effective rate | 91.4 |
Weighted average fixed interest rate | 4.48% |
Maturity period | 2034 |
London Interbank Offered Rate (LIBOR) [Member] | |
Debt Instrument [Line Items] | |
Weighted average variable interest rate | 3.95% |
Investments in Real Estate P_11
Investments in Real Estate Partnerships - Related Party Revenue (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Equity Method Investments And Joint Ventures [Abstract] | |||
Revenue from Related Parties | $ 28,878 | $ 27,873 | $ 25,260 |
Schedule of Other Assets (Detai
Schedule of Other Assets (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Other Assets [Abstract] | |||
Goodwill | $ 307,434 | $ 314,143 | $ 331,884 |
Investments | 50,354 | 41,287 | |
Prepaid and other | 18,169 | 17,937 | |
Derivative assets | 2,987 | 17,482 | |
Furniture, fixtures, and equipment, net | 7,098 | 6,127 | |
Deferred financing costs, net | 4,687 | 6,851 | |
Total other assets | $ 390,729 | $ 403,827 |
Schedule of Goodwill (Details)
Schedule of Goodwill (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Goodwill [Line Items] | ||
Goodwill Gross, Beginning balance | $ 316,858 | $ 331,884 |
Goodwill Gross, allocated to Properties held for sale | (2,472) | (1,159) |
Goodwill, ending balance | 310,388 | 316,858 |
Goodwill, Accumulated Impairment Losses, Beginning balance | (2,715) | 0 |
Goodwill Accumulated Impairment Losses, allocated to Provision for impairment | (2,954) | (12,628) |
Goodwill Accumulated Impairment Losses, allocated to Properties held for sale | 0 | 0 |
Goodwill, Accumulated Impairment Losses, Ending balance | (2,954) | (2,715) |
Goodwill, Beginning balance | 314,143 | 331,884 |
Goodwill allocated to Provision for impairment | (2,954) | (12,628) |
Goodwill allocated to Properties held for sale | (2,472) | (1,159) |
Goodwill, Ending balance | 307,434 | 314,143 |
Equity One Inc. [Member] | ||
Goodwill [Line Items] | ||
Goodwill, Purchase Accounting Adjustments | 0 | 500 |
Goodwill, Gross [Member] | Equity One Inc. [Member] | ||
Goodwill [Line Items] | ||
Goodwill, Purchase Accounting Adjustments | 500 | |
Accumulated Impairment Losses [Member] | ||
Goodwill [Line Items] | ||
Goodwill allocated to Provision for impairment | (3,000) | (12,600) |
Accumulated Impairment Losses [Member] | Equity One Inc. [Member] | ||
Goodwill [Line Items] | ||
Goodwill, Purchase Accounting Adjustments | 0 | 0 |
Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member] | ||
Goodwill [Line Items] | ||
Goodwill Gross, allocated to Provision for impairment | (1,779) | (9,913) |
Goodwill Gross, allocated to Gain on sale of real estate | (2,219) | (4,454) |
Goodwill Accumulated Impairment Losses, allocated to Provision for impairment | 1,779 | 9,913 |
Goodwill Accumulated Impairment Losses, allocated to Gain on sale of real estate | 936 | 0 |
Goodwill allocated to Provision for impairment | 0 | 0 |
Goodwill allocated to Gain on sale of real estate | $ (1,283) | $ (4,454) |
Other Assets (Details)
Other Assets (Details) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019USD ($)Reportingunit | Dec. 31, 2018USD ($)Reportingunit | |
Scheduleof Other Assets [Line Items] | ||
Goodwill, impairment loss | $ 2,954 | $ 12,628 |
Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member] | ||
Scheduleof Other Assets [Line Items] | ||
Goodwill, impairment loss | 0 | 0 |
Accumulated Impairment Losses [Member] | ||
Scheduleof Other Assets [Line Items] | ||
Goodwill, impairment loss | $ 3,000 | $ 12,600 |
Accumulated Impairment Losses [Member] | Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member] | ||
Scheduleof Other Assets [Line Items] | ||
Number of Reporting Units | Reportingunit | 2 | 10 |
Acquired Leases Intangibles (De
Acquired Leases Intangibles (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||
Finite-Lived Intangible Assets [Line Items] | ||||
Finite-Lived Intangible Assets, Gross | $ 502,132 | $ 606,758 | ||
Accumulated amortization | (259,310) | (219,689) | ||
Acquired lease intangible assets, net of amortization | 242,822 | 387,069 | ||
Finite Lived Intangible Liabilities | 558,936 | 589,472 | ||
Finite-Lived Intangible Liabilities, Accumulated Accretion | (131,676) | (92,746) | ||
Off-market Lease, Unfavorable | 427,260 | 496,726 | ||
Finite-Lived Intangible Assets, Amortization Expense | 69,362 | 88,770 | $ 99,613 | |
Acquired lease intangible liability accretion | 54,730 | 45,655 | 34,922 | |
Partnership Interest [Member] | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Accumulated amortization | (259,310) | (219,689) | ||
Acquired lease intangible assets, net of amortization | 242,822 | 387,069 | ||
Off-market Lease, Unfavorable | 427,260 | 496,726 | ||
In-place leases, net [Member] | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Finite-Lived Intangible Assets, Gross | 438,188 | 457,379 | ||
Finite-Lived Intangible Assets, Amortization Expense | 60,250 | 76,649 | 88,284 | |
Above Market Leases [Member] | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Finite-Lived Intangible Assets, Gross | 63,944 | 57,294 | ||
Finite-Lived Intangible Assets, Amortization Expense | 9,112 | 10,433 | 9,443 | |
Off-Market Favorable Lease [Member] | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Finite-Lived Intangible Assets, Gross | [1] | 92,085 | ||
Finite-Lived Intangible Assets, Amortization Expense | [1] | 1,688 | 1,886 | |
Off-Market Lease, Unfavorable [Member] | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Finite Lived Intangible Liabilities, Gross | 558,936 | 584,371 | ||
Acquired lease intangible liability accretion | $ 54,730 | 45,561 | 34,786 | |
Above Market Ground Rent Lease [Member] | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Finite Lived Intangible Liabilities, Gross | [1] | 5,101 | ||
Above Market Ground Lease Amortization [Member] | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Acquired lease intangible liability accretion | [1] | $ 94 | $ 136 | |
[1] | On January 1, 2019, the Company adopted the new accounting guidance in ASC Topic 842, Leases, |
Acquired Lease Intangibles Sche
Acquired Lease Intangibles Schedule of Future Amortization Expense and Minimum Rent (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2019USD ($) | |
Amortization Expense [Abstract] | |
2020 | $ 42,998 |
2021 | 32,551 |
2022 | 24,928 |
2023 | 19,682 |
2024 | 15,395 |
Future Accretion, Year Two | 24,120 |
Future Accretion, Year Three | 22,228 |
Future Accretion, Year Four | 21,379 |
Future Accretion, Year Five | 19,346 |
Net Accretion [Abstract] | |
2020 | $ 37,593 |
Leases (Details)
Leases (Details) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2019USD ($)property | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Jan. 01, 2019USD ($) | |
Operating Leased Assets [Line Items] | ||||
Fixed and in-substance fixed lease income | $ 806,442 | |||
Variable lease income | 247,861 | |||
Uncollectible amounts in lease income | (5,394) | |||
Total lease income | 1,094,301 | $ 1,083,770 | $ 950,186 | |
Lessor, Operating Lease, Payments to be Received, Next Twelve Months | 775,723 | 761,151 | ||
Lessor, Operating Lease, Payments to be Received, Two Years | 706,016 | 693,848 | ||
Lessor, Operating Lease, Payments to be Received, Three Years | 615,224 | 608,587 | ||
Lessor, Operating Lease, Payments to be Received, Four Years | 511,104 | 516,369 | ||
Lessor, Operating Lease, Payments to be Received, Five Years | 411,308 | 414,424 | ||
Lessor, Operating Lease, Payments to be Received, Thereafter | 1,500,745 | 1,691,203 | ||
Lessor, Operating Lease, Payments to be Received | $ 4,520,120 | 4,685,582 | ||
Number of Properties Subject to Ground Leases | property | 22 | |||
Last Ground Lease Expiration Date | 2101 | |||
Last Office Lease Expiration Date | 2029 | |||
Operating Lease, Expense | $ 20,456 | 19,100 | $ 18,400 | |
Variable Lease, Cost | 2,245 | |||
Operating cash flows for operating leases | 14,815 | |||
Lessee, Operating Lease, Liability, Payments, Due Next Twelve Months | 15,849 | |||
Lessee, Operating Lease, Liability, Payments, Due Year Two | 14,820 | |||
Lessee, Operating Lease, Liability, Payments, Due Year Three | 13,886 | |||
Lessee, Operating Lease, Liability, Payments, Due Year Four | 13,325 | |||
Lessee, Operating Lease, Liability, Payments, Due Year Five | 12,903 | |||
Lessee, Operating Lease, Liability, Payments, Due after Year Five | 557,520 | |||
Lessee, Operating Lease, Total Undiscounted Lease Liabilities | 628,303 | |||
Lessee, Operating Lease, Present Value Discount | (405,385) | |||
Lease liabilities | 222,918 | 0 | $ 225,400 | |
Operating Leases, Future Minimum Payments Due, Next Twelve Months | 15,077 | |||
Operating Leases, Future Minimum Payments, Due in Two Years | 14,733 | |||
Operating Leases, Future Minimum Payments, Due in Three Years | 13,893 | |||
Operating Leases, Future Minimum Payments, Due in Four Years | 13,151 | |||
Operating Leases, Future Minimum Payments, Due in Five Years | 12,558 | |||
Operating Leases, Future Minimum Payments, Due Thereafter | 467,706 | |||
Operating Leases, Future Minimum Payments Due | 537,118 | |||
Lessor [Member] | ||||
Operating Leased Assets [Line Items] | ||||
Above/below market rent and tenant rent inducement amortization | 45,392 | |||
Ground Lease [Member] | ||||
Operating Leased Assets [Line Items] | ||||
Operating Lease, Expense | 13,982 | |||
Variable Lease, Cost | 1,693 | |||
Lessee, Operating Lease, Liability, Payments, Due Next Twelve Months | 10,697 | |||
Lessee, Operating Lease, Liability, Payments, Due Year Two | 10,671 | |||
Lessee, Operating Lease, Liability, Payments, Due Year Three | 10,698 | |||
Lessee, Operating Lease, Liability, Payments, Due Year Four | 10,915 | |||
Lessee, Operating Lease, Liability, Payments, Due Year Five | 10,964 | |||
Lessee, Operating Lease, Liability, Payments, Due after Year Five | 553,116 | |||
Lessee, Operating Lease, Total Undiscounted Lease Liabilities | 607,061 | |||
Lessee, Operating Lease, Present Value Discount | (403,237) | |||
Lease liabilities | $ 203,824 | |||
Operating Lease, Weighted Average Discount Rate, Percent | 5.20% | |||
Operating Lease, Weighted Average Remaining Lease Term | 49 years 2 months 12 days | |||
Operating Leases, Future Minimum Payments Due, Next Twelve Months | 10,672 | |||
Operating Leases, Future Minimum Payments, Due in Two Years | 10,439 | |||
Operating Leases, Future Minimum Payments, Due in Three Years | 10,344 | |||
Operating Leases, Future Minimum Payments, Due in Four Years | 10,258 | |||
Operating Leases, Future Minimum Payments, Due in Five Years | 10,369 | |||
Operating Leases, Future Minimum Payments, Due Thereafter | 461,762 | |||
Operating Leases, Future Minimum Payments Due | 513,844 | |||
Office Lease [Member] | ||||
Operating Leased Assets [Line Items] | ||||
Operating Lease, Expense | $ 4,229 | |||
Variable Lease, Cost | 552 | |||
Lessee, Operating Lease, Liability, Payments, Due Next Twelve Months | 5,152 | |||
Lessee, Operating Lease, Liability, Payments, Due Year Two | 4,149 | |||
Lessee, Operating Lease, Liability, Payments, Due Year Three | 3,188 | |||
Lessee, Operating Lease, Liability, Payments, Due Year Four | 2,410 | |||
Lessee, Operating Lease, Liability, Payments, Due Year Five | 1,939 | |||
Lessee, Operating Lease, Liability, Payments, Due after Year Five | 4,404 | |||
Lessee, Operating Lease, Total Undiscounted Lease Liabilities | 21,242 | |||
Lessee, Operating Lease, Present Value Discount | (2,148) | |||
Lease liabilities | $ 19,094 | |||
Operating Lease, Weighted Average Discount Rate, Percent | 3.90% | |||
Operating Lease, Weighted Average Remaining Lease Term | 5 years 6 months | |||
Operating Leases, Future Minimum Payments Due, Next Twelve Months | 4,405 | |||
Operating Leases, Future Minimum Payments, Due in Two Years | 4,294 | |||
Operating Leases, Future Minimum Payments, Due in Three Years | 3,549 | |||
Operating Leases, Future Minimum Payments, Due in Four Years | 2,893 | |||
Operating Leases, Future Minimum Payments, Due in Five Years | 2,189 | |||
Operating Leases, Future Minimum Payments, Due Thereafter | 5,944 | |||
Operating Leases, Future Minimum Payments Due | $ 23,274 | |||
Fixed Lease Expense [Member] | ||||
Operating Leased Assets [Line Items] | ||||
Operating Lease, Expense | $ 18,211 |
Income Taxes - Tax Status of Di
Income Taxes - Tax Status of Dividends (Details) - $ / shares | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Schedule of Tax Status of Dividends [Line Items] | |||
Dividend per share | $ 2.34 | $ 2.22 | $ 2.10 |
Ordinary income | 97.00% | 98.00% | 86.00% |
Capital gain | 3.00% | 0.00% | 10.00% |
Return of capital | 0.00% | 0.00% | 4.00% |
Allocation of Dividends, Qualified Dividend Income | 0.00% | 2.00% | 0.00% |
Allocation of Dividends, Section 199A Dividend | 97.00% | 98.00% | 0.00% |
Parent Company [Member] | |||
Schedule of Tax Status of Dividends [Line Items] | |||
Dividend per share | $ 2.34 | $ 2.22 | $ 2.10 |
Income Taxes Income Taxes - Inc
Income Taxes Income Taxes - Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Income Tax Disclosure [Abstract] | |||
Current Income Tax Expense (Benefit) | $ 1,576 | $ 5,667 | $ 1,168 |
Deferred Income Tax Expense (Benefit) | (331) | (5,145) | (10,815) |
Federal Income Tax Expense (Benefit), Continuing Operations | $ 1,245 | $ 522 | $ (9,647) |
Income Taxes Income Taxes - I_2
Income Taxes Income Taxes - Income Tax Expense (Benefit) (Parenthetical) (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Scheduleof Componentsof Income Tax Expense Benefit [Line Items] | |||
Income tax expense (benefit) | $ 1,245,000 | $ 522,000 | $ (9,647,000) |
Other Operating Expenses [Member] | |||
Scheduleof Componentsof Income Tax Expense Benefit [Line Items] | |||
Income tax expense (benefit) | 757,000 | 706,000 | $ 90,000 |
Gain on Sale of Real Estate [Member] | |||
Scheduleof Componentsof Income Tax Expense Benefit [Line Items] | |||
Income tax expense (benefit) | $ 488,000 | $ (184,000) |
Income Taxes - Tax Reconciliati
Income Taxes - Tax Reconciliation (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Income Tax Disclosure [Abstract] | |||
Computed expected tax expense (benefit) | $ 1,587 | $ (584) | $ 1,190 |
State income tax, net of federal benefit | 650 | 636 | 108 |
Valuation allowance | (91) | (392) | (1,512) |
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount | 0 | 0 | (9,737) |
Effective Income Tax Rate Reconciliation, Other Adjustments, Amount | (819) | 1,067 | 0 |
All other items | (82) | (205) | 304 |
Federal Income Tax Expense (Benefit), Continuing Operations | 1,245 | 522 | (9,647) |
Income tax expense (benefit) attributable to operations | $ 1,245 | $ 522 | $ (9,647) |
Income Taxes - Tax Reconcilia_2
Income Taxes - Tax Reconciliation (Parenthetical) (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Scheduleof Componentsof Income Tax Expense Benefit [Line Items] | |||
Income tax expense (benefit) | $ 1,245,000 | $ 522,000 | $ (9,647,000) |
Other Operating Expenses [Member] | |||
Scheduleof Componentsof Income Tax Expense Benefit [Line Items] | |||
Income tax expense (benefit) | 757,000 | 706,000 | $ 90,000 |
Gain on Sale of Real Estate [Member] | |||
Scheduleof Componentsof Income Tax Expense Benefit [Line Items] | |||
Income tax expense (benefit) | $ 488,000 | $ (184,000) |
Income Taxes - Deferred Taxes (
Income Taxes - Deferred Taxes (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Deferred Tax Assets, Net [Abstract] | ||
Provision for impairment | $ 0 | $ 3,785 |
Deferred interest expense | 1,341 | 2,617 |
Capitalized costs under Section 263A | 0 | 713 |
Net operating loss carryforward | 106 | 166 |
Other | 88 | 2,123 |
Deferred tax assets | 1,535 | 9,404 |
Valuation allowance | (680) | (7,907) |
Deferred tax assets, net | 855 | 1,497 |
Deferred Tax Liabilities, Net [Abstract] | ||
Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Deferred Rent | (100) | (565) |
Fixed assets | (14,404) | (14,829) |
Deferred tax liabilities | (14,504) | (15,394) |
Net deferred tax liabilities | $ (13,649) | $ (13,897) |
Schedule of Debt (Details)
Schedule of Debt (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Debt Instrument [Line Items] | ||
Long-term Debt | $ 3,919,544 | $ 3,715,212 |
Fixed Rate Mortgage Loans [Member] | ||
Debt Instrument [Line Items] | ||
Long-term Debt, Maturity Date | Oct. 1, 2036 | |
Debt, Weighted Average Contractual Interest Rate | 4.40% | |
Debt, Weighted Average Effective Interest Rate | 4.00% | |
Long-term Debt | $ 342,020 | 403,306 |
Unsecured Debt [Member] | ||
Debt Instrument [Line Items] | ||
Long-term Debt, Maturity Date | Mar. 15, 2049 | |
Debt, Weighted Average Contractual Interest Rate | 3.90% | |
Debt, Weighted Average Effective Interest Rate | 4.10% | |
Long-term Debt | $ 2,944,752 | 2,475,322 |
Total credit facilities | 484,383 | 708,734 |
Notes Payable to Banks [Member] | ||
Debt Instrument [Line Items] | ||
Long-term Debt | $ 3,435,161 | 3,006,478 |
Line of Credit [Member] | ||
Debt Instrument [Line Items] | ||
Long-term Debt, Maturity Date | Mar. 23, 2022 | |
Debt, Weighted Average Contractual Interest Rate | 2.70% | |
Debt, Weighted Average Effective Interest Rate | 2.90% | |
Line of Credit [Member] | Unsecured Debt [Member] | ||
Debt Instrument [Line Items] | ||
Total credit facilities | $ 220,000 | 145,000 |
Term Loan [Member] | ||
Debt Instrument [Line Items] | ||
Long-term Debt, Maturity Date | Jan. 5, 2022 | |
Debt, Weighted Average Contractual Interest Rate | 2.00% | |
Debt, Weighted Average Effective Interest Rate | 2.10% | |
Term Loan [Member] | Unsecured Debt [Member] | ||
Debt Instrument [Line Items] | ||
Total credit facilities | $ 264,383 | 563,734 |
London Interbank Offered Rate (LIBOR) [Member] | Variable Rate Mortgage Loans [Member] | ||
Debt Instrument [Line Items] | ||
Long-term Debt, Maturity Date | Jun. 2, 2027 | |
Debt, Weighted Average Contractual Interest Rate | 3.20% | |
Debt, Weighted Average Effective Interest Rate | 3.30% | |
Long-term Debt | $ 148,389 | $ 127,850 |
Schedule of Debt (Parenthetical
Schedule of Debt (Parentheticals) (Details) - Variable Rate Mortgage Loans [Member] - London Interbank Offered Rate (LIBOR) [Member] | Dec. 31, 2019 |
Minimum [Member] | |
Debt Instrument [Line Items] | |
Debt instrument, effective fixed interest rate | 2.50% |
Maximum [Member] | |
Debt Instrument [Line Items] | |
Debt instrument, effective fixed interest rate | 4.10% |
Notes Payable and Unsecured C_3
Notes Payable and Unsecured Credit Facilities (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2019USD ($) | |
Debt Instrument [Line Items] | |
Line of Credit Facility, Interest Rate Description | LIBOR plus 0.875% |
Debt instrument, interest rate, basis for effective rate | 91.4 |
Line of Credit Facility, Commitment Fee Amount | 0.15% |
Debt Instrument, Interest Rate Terms | LIBOR plus 0.95% |
Debt maturing over the next twelve months | $ 50,359 |
Interest Rate Swap [Member] | |
Debt Instrument [Line Items] | |
Debt instrument, interest rate swap stated | 2.00% |
Non-Recourse Mortgage Loan [Member] | |
Debt Instrument [Line Items] | |
Debt maturing over the next twelve months | $ 39,100 |
Line of Credit [Member] | |
Debt Instrument [Line Items] | |
Debt instrument, interest rate, basis for effective rate | LIBOR plus 0.875% |
Line of Credit [Member] | Term Loans [Member] | |
Debt Instrument [Line Items] | |
Debt instrument, interest rate, basis for effective rate | LIBOR plus 0.95% |
Line of Credit [Member] | London Interbank Offered Rate (LIBOR) [Member] | |
Debt Instrument [Line Items] | |
Debt instrument basis spread on variable rate | 0.875% |
Line of Credit [Member] | London Interbank Offered Rate (LIBOR) [Member] | Term Loans [Member] | |
Debt Instrument [Line Items] | |
Debt instrument basis spread on variable rate | 0.95% |
Accordion Feature [Member] | |
Debt Instrument [Line Items] | |
Line of Credit Facility, Maximum Borrowing Capacity | $ 1,250,000 |
Notes Payable and Unsecured C_4
Notes Payable and Unsecured Credit Facilities Schedule of maturities of long-term debt (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Debt Instrument [Line Items] | ||
2020 | $ 50,359 | |
2021 | 85,699 | |
2022 | 802,645 | |
2023 | 69,498 | |
2024 | 346,043 | |
Beyond 5 Years | 2,592,015 | |
Unamortized debt discounts (premiums) | (26,715) | |
Long-term Debt | 3,919,544 | $ 3,715,212 |
Unsecured Debt [Member] | ||
Debt Instrument [Line Items] | ||
Long-term Debt | 2,944,752 | $ 2,475,322 |
Scheduled Principal Payments [Member] | Mortgages [Member] | ||
Debt Instrument [Line Items] | ||
2020 | 11,285 | |
2021 | 11,598 | |
2022 | 11,797 | |
2023 | 10,124 | |
2024 | 5,301 | |
Beyond 5 Years | 21,712 | |
Unamortized debt discounts (premiums) | 0 | |
Long-term Debt | 71,817 | |
Mortgage Loan Maturities [Member] | Mortgages [Member] | ||
Debt Instrument [Line Items] | ||
2020 | 39,074 | |
2021 | 74,101 | |
2022 | 5,848 | |
2023 | 59,374 | |
2024 | 90,742 | |
Beyond 5 Years | 145,303 | |
Unamortized debt discounts (premiums) | 4,150 | |
Long-term Debt | 418,592 | |
Unsecured Maturities [Member] | Unsecured Debt [Member] | ||
Debt Instrument [Line Items] | ||
2020 | 0 | |
2021 | 0 | |
2022 | 785,000 | |
2023 | 0 | |
2024 | 250,000 | |
Beyond 5 Years | 2,425,000 | |
Unamortized debt discounts (premiums) | (30,865) | |
Long-term Debt | $ 3,429,135 |
Derivative Financial Instrume_3
Derivative Financial Instruments (Details) - USD ($) $ in Thousands | Aug. 14, 2019 | Mar. 07, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Derivative [Line Items] | |||||
Unsecured notes | $ 484,383 | $ 708,734 | |||
Repayments Of unsecured debt | 250,000 | 150,000 | $ 0 | ||
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax | (15,585) | 402 | 1,151 | ||
Amount reclassified from accumulated other comprehensive loss | 3,269 | 5,342 | 11,103 | ||
Interest Expense | 151,264 | 148,456 | $ 132,629 | ||
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months | 4,100 | ||||
Term Loan Due December 2020 [Member] | |||||
Derivative [Line Items] | |||||
Repayments of interest rate swap breakage fee | $ 1,100 | ||||
Repayments Of unsecured debt | $ 300,000 | ||||
Debt Instrument Maturity Period | 2020-12 | ||||
Fair Value, Measurements, Recurring [Member] | |||||
Derivative [Line Items] | |||||
Interest Rate Cash Flow Hedge Asset at Fair Value | 2,987 | 17,482 | |||
Interest Rate Cash Flow Hedge Liability at Fair Value | (1,515) | (5,491) | |||
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | |||||
Derivative [Line Items] | |||||
Interest Rate Cash Flow Hedge Asset at Fair Value | 2,987 | 17,482 | |||
Interest Rate Cash Flow Hedge Liability at Fair Value | (1,515) | (5,491) | |||
Interest Rate Cash Flow Hedge Derivative At Fair Value Net | $ 1,472 | 11,991 | |||
Treasury Lock [Member] | |||||
Derivative [Line Items] | |||||
Derivative, Inception Date | Dec. 6, 2018 | ||||
Derivative, Maturity Date | Jun. 28, 2019 | ||||
Derivative, Notional Amount | $ 250,000 | ||||
Derivative, Description of Variable Rate Basis | 30 year U.S. Treasury | ||||
Derivative, Fixed Interest Rate | 4.65% | 3.147% | |||
Interest Rate Cash Flow Hedge Asset at Fair Value | $ 0 | ||||
Interest Rate Cash Flow Hedge Liability at Fair Value | (5,491) | ||||
Unsecured notes | $ 300,000 | ||||
Unsecured notes maturity period | 2049-03 | ||||
Debt Instrument, Term | 30 years | ||||
Treasury Lock [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | |||||
Derivative [Line Items] | |||||
Unsecured notes | $ 5,700 | ||||
Derivative @ 1.824% 300M [Member] | |||||
Derivative [Line Items] | |||||
Derivative, Inception Date | Apr. 3, 2017 | ||||
Derivative, Maturity Date | Dec. 2, 2020 | ||||
Derivative, Notional Amount | $ 300,000 | ||||
Derivative, Description of Variable Rate Basis | 1 Month LIBOR with Floor | ||||
Derivative, Fixed Interest Rate | 1.824% | ||||
Interest Rate Cash Flow Hedge Asset at Fair Value | $ 0 | 3,759 | |||
Derivative @ 1.053% 265M [Member] | |||||
Derivative [Line Items] | |||||
Derivative, Inception Date | Aug. 1, 2016 | ||||
Derivative, Maturity Date | Jan. 5, 2022 | ||||
Derivative, Notional Amount | $ 265,000 | ||||
Derivative, Description of Variable Rate Basis | 1 Month LIBOR with Floor | ||||
Derivative, Fixed Interest Rate | 1.053% | ||||
Interest Rate Cash Flow Hedge Asset at Fair Value | $ 2,674 | 10,838 | |||
Derivative @ 1.30250% 19.767M [Member] | |||||
Derivative [Line Items] | |||||
Derivative, Inception Date | Apr. 7, 2016 | ||||
Derivative, Maturity Date | Apr. 1, 2023 | ||||
Derivative, Notional Amount | $ 19,767 | ||||
Derivative, Description of Variable Rate Basis | 1 Month LIBOR | ||||
Derivative, Fixed Interest Rate | 1.303% | ||||
Interest Rate Cash Flow Hedge Asset at Fair Value | $ 148 | 880 | |||
Derivative @ 1.490% 32.952M [Member] | |||||
Derivative [Line Items] | |||||
Derivative, Inception Date | Dec. 1, 2016 | ||||
Derivative, Maturity Date | Nov. 1, 2023 | ||||
Derivative, Notional Amount | $ 32,952 | ||||
Derivative, Description of Variable Rate Basis | 1 Month LIBOR | ||||
Derivative, Fixed Interest Rate | 1.49% | ||||
Interest Rate Cash Flow Hedge Asset at Fair Value | $ 84 | 1,376 | |||
Derivative @ 1.542% 24M [Member] | |||||
Derivative [Line Items] | |||||
Derivative, Inception Date | Sep. 17, 2019 | ||||
Derivative, Maturity Date | Mar. 17, 2025 | ||||
Derivative, Notional Amount | $ 24,000 | ||||
Derivative, Description of Variable Rate Basis | 1 Month LIBOR | ||||
Derivative, Fixed Interest Rate | 1.542% | ||||
Interest Rate Cash Flow Hedge Asset at Fair Value | $ 81 | ||||
Derivative @ 2.366% 37.166M [Member] | |||||
Derivative [Line Items] | |||||
Derivative, Inception Date | Jun. 2, 2017 | ||||
Derivative, Maturity Date | Jun. 2, 2027 | ||||
Derivative, Notional Amount | $ 37,166 | ||||
Derivative, Description of Variable Rate Basis | 1 Month LIBOR with Floor | ||||
Derivative, Fixed Interest Rate | 2.366% | ||||
Interest Rate Cash Flow Hedge Asset at Fair Value | $ 629 | ||||
Interest Rate Cash Flow Hedge Liability at Fair Value | $ (1,515) | ||||
Interest Rate Swap [Member] | |||||
Derivative [Line Items] | |||||
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months | $ 4,300 |
Fair Value Measurements (Detail
Fair Value Measurements (Details) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Notes payable | $ 3,435,161 | $ 3,006,478 | |
Unsecured notes | 484,383 | 708,734 | |
Trading Securities, Change in Unrealized Holding Gain (Loss) | (3,800) | 3,300 | $ (1,100) |
Impairment of Real Estate | 54,174 | 38,437 | $ 0 |
Impairment of Real Estate | 50,500 | ||
Real Estate Sold [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impairment of Real Estate | 31,800 | ||
Properties Held For Sale [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impairment of Real Estate | 6,600 | ||
Fair Value, Measurements, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Debt Securities, Trading, and Equity Securities, FV-NI | 39,599 | 33,354 | |
Available-for-sale Securities | 10,755 | 7,933 | |
Interest Rate Derivative Assets, at Fair Value | 2,987 | 17,482 | |
Total | 53,341 | 58,769 | |
Interest Rate Cash Flow Hedge Liability at Fair Value | (1,515) | (5,491) | |
Fair Value, Measurements, Nonrecurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Operating properties | 71,131 | 42,760 | |
Impairment of Real Estate | 50,553 | 6,579 | |
Fair Value, Inputs, Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Notes Payable, Fair Value | 3,688,604 | 2,961,769 | |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Debt Securities, Trading, and Equity Securities, FV-NI | 0 | 0 | |
Available-for-sale Securities | 10,755 | 7,933 | |
Interest Rate Derivative Assets, at Fair Value | 2,987 | 17,482 | |
Total | 13,742 | 25,415 | |
Interest Rate Cash Flow Hedge Liability at Fair Value | (1,515) | (5,491) | |
Impairment of Real Estate | 10,200 | ||
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Nonrecurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Operating properties | 28,131 | 42,760 | |
Fair Value, Inputs, Level 2 [Member] | Unsecured Credit Facilities [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Unsecured credit facilities, Fair Value | 489,496 | 710,902 | |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Debt Securities, Trading, and Equity Securities, FV-NI | 39,599 | 33,354 | |
Available-for-sale Securities | 0 | 0 | |
Interest Rate Derivative Assets, at Fair Value | 0 | 0 | |
Total | 39,599 | 33,354 | |
Interest Rate Cash Flow Hedge Liability at Fair Value | 0 | 0 | |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Nonrecurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Operating properties | 0 | 0 | |
Fair Value, Inputs, Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impairment of Real Estate | $ 40,300 | ||
Fair Value, Inputs, Level 3 [Member] | Discount Rate [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Alternative Investment Rate | 8.58 | ||
Fair Value, Inputs, Level 3 [Member] | Terminal Capitalization Rate [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Alternative Investment Rate | 4.75 | ||
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Debt Securities, Trading, and Equity Securities, FV-NI | $ 0 | 0 | |
Available-for-sale Securities | 0 | 0 | |
Interest Rate Derivative Assets, at Fair Value | 0 | 0 | |
Total | 0 | 0 | |
Interest Rate Cash Flow Hedge Liability at Fair Value | 0 | 0 | |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Operating properties | 43,000 | $ 0 | |
Alternative Investment | $ 43,000 |
Equity and Capital Equity and C
Equity and Capital Equity and Capital - Common Stock (Details) - USD ($) | Feb. 29, 2020 | Feb. 04, 2020 | Jan. 31, 2019 | Dec. 31, 2019 | Sep. 30, 2019 | Dec. 31, 2019 | Dec. 31, 2018 |
Class of Stock [Line Items] | |||||||
Common stock remaining available for Issuance | 500,000,000 | 500,000,000 | |||||
Stock Repurchase Program, Authorized Amount | $ 250,000,000 | ||||||
Stock Repurchase Program Expiration Date | Feb. 5, 2021 | ||||||
Stock Repurchased and Retired During Period, Value | $ (32,778,000) | $ (213,851,000) | |||||
Common Stock [Member] | |||||||
Class of Stock [Line Items] | |||||||
Stock Repurchased and Retired During Period, Shares | 0 | 563,229 | |||||
Stock Repurchased and Retired During Period, Value | $ (32,800,000) | $ (6,000) | $ (37,000) | ||||
Common Stock [Member] | Average share price [Member] | |||||||
Class of Stock [Line Items] | |||||||
Stock Repurchased and Retired During Period, Value Per Share | $ (58.17) | ||||||
ATM Equity Offering Program [Member] | |||||||
Class of Stock [Line Items] | |||||||
Shares issued under program | 0 | ||||||
ATM Equity Offering Program [Member] | Forward Equity Offering [Member] | |||||||
Class of Stock [Line Items] | |||||||
Number of shares issuable | 1,894,845 | ||||||
Sale of stock, average offering price | $ 67.99 | ||||||
Settlement date | Sep. 12, 2020 | ||||||
ATM Equity Offering Program [Member] | Forward Equity Offering [Member] | Parent Company [Member] | |||||||
Class of Stock [Line Items] | |||||||
Number of shares settled | 0 | ||||||
Maximum [Member] | |||||||
Class of Stock [Line Items] | |||||||
Equity Issuances, Common Shares Authorized for Issuance | 500,000,000 | 500,000,000 |
Equity and Capital Equity and_2
Equity and Capital Equity and Capital - Common Units (Details) $ in Millions | 1 Months Ended |
Sep. 30, 2019USD ($)shares | |
Equity [Abstract] | |
Issuance of exchangeable operating partnership, units | shares | 396,531 |
Issuance of operating partnership, value | $ | $ 25.9 |
Equity and Capital - Schedule o
Equity and Capital - Schedule of Partnership Units Outstanding (Details) - shares | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Class of Stock [Line Items] | ||
General partner units, outstanding | 167,571,000 | 167,904,000 |
Limited partner units, outstanding | 746,000 | 350,000 |
Partners' Capital Account, Units | 168,317,000 | 168,254,000 |
Operating Partnership [Member] | ||
Class of Stock [Line Items] | ||
General partner units, outstanding | 167,571,218 | |
Parent Company, Ownership Percentage of Outstanding Common Partnership Units of Operating Partnership | 99.60% | 99.60% |
Operating Partnership [Member] | General Partner [Member] | ||
Class of Stock [Line Items] | ||
Parent Company, Ownership Percentage of Outstanding Common Partnership Units of Operating Partnership | 99.60% | 99.80% |
Stock-Based Compensation Stock-
Stock-Based Compensation Stock-Based Compensation (Details) - USD ($) $ in Thousands, shares in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs, Capitalized Amount | $ (2,325) | $ (3,509) | $ (3,210) |
Stock-based compensation, net of capitalization | $ 14,339 | 13,635 | 20,549 |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 5.6 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 5 | ||
Restricted Stock [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Allocated Share-based Compensation Expense | $ 16,254 | 16,745 | 15,525 |
Common Stock [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Noninterest Expense Directors Fees | 410 | 399 | 303 |
Equity One Inc. [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Stock-based compensation, net of capitalization | 0 | 0 | 7,931 |
Parent Company [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Stock-based compensation, net of capitalization | $ 14,339 | $ 13,635 | $ 20,549 |
Stock-Based Compensation Restri
Stock-Based Compensation Restricted Stock (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Feb. 13, 2020 | |
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 | 19.30% | 19.20% | 18.00% | |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 2.43% | 2.26% | 1.48% | |
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 | 595,171 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | (272,827) | |||
Stock Issued During Period, Shares, Restricted Stock Award, Forfeited | (8,554) | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 623,090 | 595,171 | ||
Non-Vested Restricted Stock Intrinsic Value | $ 39,311 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value | $ 64.82 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value | 65.30 | |||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ 65.11 | $ 63.50 | $ 72.05 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value | $ 17,684 | $ 17,306 | $ 14,376 | |
Share-based Payment Arrangement, Non-vested Award, Excluding Option, Unrecognized, Amount | $ 12,900 | |||
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 | 122,488 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 65.21 | |||
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 | 11,722 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 65 | |||
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 | 121,225 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 65.03 | |||
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 | 53,865 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 64.58 | |||
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 |
Saving and Retirement Plans 401
Saving and Retirement Plans 401K Retirement Plan (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Defined contribution plan, percentage of employee deferrals to company matching contributions | 100.00% | ||
Profit Sharing Contribution, Vesting Period | 3 years | ||
Defined Contribution Plan, Cost | $ 3,500,000 | $ 3,900,000 | $ 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, 2019 | Dec. 31, 2018 |
Other Assets [Member] | ||
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items] | ||
Securities | $ 36,849 | $ 31,351 |
Accounts Payable and Other Liabilities [Member] | ||
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items] | ||
Deferred compensation obligation | $ 36,755 | $ 31,166 |
Earnings per Share and Unit (De
Earnings per Share and Unit (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Earnings Per Share Basic [Line Items] | |||||||||||
Income attributable to common stockholders/unit holders - basic | $ 239,430 | $ 249,127 | $ 159,949 | ||||||||
Weighted average common shares/units outstanding for basic EPS/EPU | 167,526,000 | 169,724,000 | 159,536,000 | ||||||||
Weighted average common shares/units outstanding for diluted EPS/EPU | 167,771,000 | 170,100,000 | 159,960,000 | ||||||||
Income per common share - basic | $ 0.24 | $ 0.34 | $ 0.31 | $ 0.54 | $ 0.47 | $ 0.41 | $ 0.28 | $ 0.31 | $ 1.43 | $ 1.47 | $ 1 |
Income per common share - diluted | $ 0.24 | $ 0.34 | $ 0.31 | $ 0.54 | $ 0.46 | $ 0.41 | $ 0.28 | $ 0.31 | $ 1.43 | $ 1.46 | $ 1 |
Weighted Average Limited Partnership Units Outstanding, Basic | 464,286 | 349,902 | 295,054 | ||||||||
Partnership Interest [Member] | |||||||||||
Earnings Per Share Basic [Line Items] | |||||||||||
Weighted average common shares/units outstanding for basic EPS/EPU | 167,990,000 | 170,074,000 | 159,831,000 | ||||||||
Weighted average common shares/units outstanding for diluted EPS/EPU | 168,235,000 | 170,450,000 | 160,255,000 | ||||||||
Income per common share - basic | $ 1.43 | $ 1.47 | $ 1 | ||||||||
Income per common share - diluted | $ 1.43 | $ 1.46 | $ 1 | ||||||||
Continuing Operations [Member] | |||||||||||
Earnings Per Share Basic [Line Items] | |||||||||||
Income attributable to common stockholders/unit holders - basic | $ 239,430 | $ 249,127 | $ 159,949 | ||||||||
Income attributable to common stockholders/unit holders - diluted | 239,430 | 249,127 | 159,949 | ||||||||
Continuing Operations [Member] | Partnership Interest [Member] | |||||||||||
Earnings Per Share Basic [Line Items] | |||||||||||
Income attributable to common stockholders/unit holders - basic | 240,064 | 249,652 | 160,337 | ||||||||
Income attributable to common stockholders/unit holders - diluted | $ 240,064 | $ 249,652 | $ 160,337 |
Earnings per Share and Unit (Pa
Earnings per Share and Unit (Parenthetical) (Details) - shares shares in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2017 | |
ATM Equity Offering Program [Member] | ||
Earnings Per Share Basic [Line Items] | ||
Anti-dilutive securities excludes from earnings per share amount | 1.9 | 1.3 |
ATM Equity Offering Program [Member] | Partnership Interest [Member] | ||
Earnings Per Share Basic [Line Items] | ||
Anti-dilutive securities excludes from earnings per share amount | 1.9 | 1.3 |
Forward Equity Offering [Member] | ||
Earnings Per Share Basic [Line Items] | ||
Anti-dilutive securities excludes from earnings per share amount | 1.9 | 1.3 |
Forward Equity Offering [Member] | Partnership Interest [Member] | ||
Earnings Per Share Basic [Line Items] | ||
Anti-dilutive securities excludes from earnings per share amount | 1.9 | 1.3 |
Commitments and Contingencies (
Commitments and Contingencies (Details) - USD ($) $ in Millions | Jan. 01, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Purchase Commitment, Excluding Long-term Commitment [Line Items] | |||
Line of Credit Facility, Maximum Borrowing Capacity | $ 50 | ||
Letters of Credit Outstanding, Amount | $ 12.5 | $ 9.4 | |
Subsequent Event [Member] | |||
Purchase Commitment, Excluding Long-term Commitment [Line Items] | |||
Purchase Commitment, Remaining Minimum Amount Committed | $ 18.1 | ||
Town And Country Shopping Center [Member] | |||
Purchase Commitment, Excluding Long-term Commitment [Line Items] | |||
Noncontrolling Interest, Ownership Percentage by Parent | 35.00% | ||
Maximum [Member] | Town And Country Shopping Center [Member] | |||
Purchase Commitment, Excluding Long-term Commitment [Line Items] | |||
Noncontrolling Interest, Ownership Percentage by Parent | 16.62% |
Summary of Quarterly Financia_3
Summary of Quarterly Financial Data (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Quarterly Financial Information Disclosure [Abstract] | |||||||||||
Revenues included in Discontinued Operations | $ 288,733 | $ 282,276 | $ 275,872 | $ 286,257 | $ 284,560 | $ 278,310 | $ 281,412 | $ 276,693 | $ 1,133,138 | $ 1,120,975 | $ 984,326 |
Net income attributable to common stockholders | 40,291 | 56,965 | 51,728 | 90,446 | 78,904 | 69,722 | 47,841 | 52,660 | $ 239,430 | $ 249,127 | $ 176,077 |
Noncontrolling Interest in Net Income (Loss) Operating Partnerships, Nonredeemable | 178 | 157 | 109 | 190 | 167 | 147 | 100 | 111 | |||
Net income attributable to common unit holders | $ 40,469 | $ 57,122 | $ 51,837 | $ 90,636 | $ 79,071 | $ 69,869 | $ 47,941 | $ 52,771 | |||
Income per common share - basic (note 15) | $ 0.24 | $ 0.34 | $ 0.31 | $ 0.54 | $ 0.47 | $ 0.41 | $ 0.28 | $ 0.31 | $ 1.43 | $ 1.47 | $ 1 |
Income per common share - diluted (note 15) | $ 0.24 | $ 0.34 | $ 0.31 | $ 0.54 | $ 0.46 | $ 0.41 | $ 0.28 | $ 0.31 | $ 1.43 | $ 1.46 | $ 1 |
Schedule III - Consolidated R_2
Schedule III - Consolidated Real Estate and Accumulated Depreciation (Details) - USD ($) $ in Thousands | 12 Months Ended | ||||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2020 | Dec. 31, 2019 | |
Initial Cost | |||||
Land | $ 4,845,004 | ||||
Building & Improvements | 5,582,040 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 668,250 | ||||
Total Cost | |||||
Land | 4,896,319 | ||||
Building & Improvements | 6,198,975 | ||||
Total | $ 10,863,162 | $ 10,892,821 | $ 4,933,499 | 11,095,294 | |
Accumulated Depreciation | (1,535,444) | (1,339,771) | (1,124,391) | (1,766,162) | |
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 9,329,132 | ||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (486,259) | ||||
Aggregate cost for Federal income tax purposes | 8,800,000 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Beginning balance | 10,863,162 | 10,892,821 | 4,933,499 | ||
Acquired properties and land | 268,366 | 113,911 | 5,772,265 | ||
Developments and improvements | 159,149 | 198,005 | 273,871 | ||
Sale of properties | (60,195) | (277,270) | (86,814) | ||
Properties held for sale | (58,527) | (59,438) | |||
Provision for impairment | (76,661) | (4,867) | |||
Ending balance | 11,095,294 | 10,863,162 | 10,892,821 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Beginning balance | 1,535,444 | 1,339,771 | 1,124,391 | ||
Depreciation expense | 260,814 | 249,489 | 222,395 | ||
Sale of properties | (4,643) | (45,901) | (7,015) | ||
Accumulated depreciation related to properties held for sale | (19,031) | (7,729) | |||
Provision for impairment | (6,422) | (186) | |||
Ending balance | $ 1,766,162 | $ 1,535,444 | $ 1,339,771 | ||
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 | (38,993) | ||||
Total Cost | |||||
Land | 26,196 | ||||
Building & Improvements | 18,046 | ||||
Total | $ 44,242 | 44,242 | |||
Accumulated Depreciation | (1,304) | (1,304) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 42,938 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 44,242 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 1,304 | ||||
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 | 1 | ||||
Total Cost | |||||
Land | 40,560 | ||||
Building & Improvements | 25,618 | ||||
Total | 66,178 | 66,178 | |||
Accumulated Depreciation | (2,118) | (2,118) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 64,060 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 66,178 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 2,118 | ||||
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 | 45 | ||||
Total Cost | |||||
Land | 23,033 | ||||
Building & Improvements | 17,218 | ||||
Total | 40,251 | 40,251 | |||
Accumulated Depreciation | (1,533) | (1,533) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 38,718 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 40,251 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 1,533 | ||||
200 Potrero [Member] | |||||
Initial Cost | |||||
Land | 4,860 | ||||
Building & Improvements | 2,251 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 124 | ||||
Total Cost | |||||
Land | 4,860 | ||||
Building & Improvements | 2,375 | ||||
Total | 7,235 | 7,235 | |||
Accumulated Depreciation | (190) | (190) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 7,045 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 7,235 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 190 | ||||
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 | 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 | ||||
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 | 1,405 | ||||
Total Cost | |||||
Land | 30,812 | ||||
Building & Improvements | 37,183 | ||||
Total | 67,995 | 67,995 | |||
Accumulated Depreciation | (25,944) | (25,944) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 42,051 | ||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (85,000) | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 67,995 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 25,944 | ||||
6401 Roosevelt [Member] | |||||
Initial Cost | |||||
Land | 2,685 | ||||
Building & Improvements | 934 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 2 | ||||
Total Cost | |||||
Land | 2,685 | ||||
Building & Improvements | 936 | ||||
Total | 3,621 | 3,621 | |||
Accumulated Depreciation | (12) | (12) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 3,609 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 3,621 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 12 | ||||
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 | 41 | ||||
Total Cost | |||||
Land | 16,614 | ||||
Building & Improvements | 24,212 | ||||
Total | 40,826 | 40,826 | |||
Accumulated Depreciation | (2,094) | (2,094) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 38,732 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 40,826 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 2,094 | ||||
91 Danbury Road [Member] | |||||
Initial Cost | |||||
Land | 732 | ||||
Building & Improvements | 851 | ||||
Total Cost | |||||
Land | 732 | ||||
Building & Improvements | 851 | ||||
Total | 1,583 | 1,583 | |||
Accumulated Depreciation | (104) | (104) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 1,479 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 1,583 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 104 | ||||
Alafaya Village [Member] | |||||
Initial Cost | |||||
Land | 3,004 | ||||
Building & Improvements | 5,852 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 93 | ||||
Total Cost | |||||
Land | 3,004 | ||||
Building & Improvements | 5,945 | ||||
Total | 8,949 | 8,949 | |||
Accumulated Depreciation | (702) | (702) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 8,247 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 8,949 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 702 | ||||
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 | 798 | ||||
Total Cost | |||||
Land | 10,109 | ||||
Building & Improvements | 12,086 | ||||
Total | 22,195 | 22,195 | |||
Accumulated Depreciation | (5,209) | (5,209) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 16,986 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 22,195 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 5,209 | ||||
Anastasia Plaza [Member] | |||||
Initial Cost | |||||
Land | 9,065 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 704 | ||||
Total Cost | |||||
Land | 3,338 | ||||
Building & Improvements | 6,431 | ||||
Total | 9,769 | 9,769 | |||
Accumulated Depreciation | (2,844) | (2,844) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 6,925 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 9,769 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 2,844 | ||||
Ashford Place [Member] | |||||
Initial Cost | |||||
Land | 2,584 | ||||
Building & Improvements | 9,865 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,143 | ||||
Total Cost | |||||
Land | 2,584 | ||||
Building & Improvements | 11,008 | ||||
Total | 13,592 | 13,592 | |||
Accumulated Depreciation | (8,057) | (8,057) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 5,535 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 13,592 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 8,057 | ||||
Atlantic Village [Member] | |||||
Initial Cost | |||||
Land | 4,282 | ||||
Building & Improvements | 18,827 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,067 | ||||
Total Cost | |||||
Land | 4,282 | ||||
Building & Improvements | 19,894 | ||||
Total | 24,176 | 24,176 | |||
Accumulated Depreciation | (2,403) | (2,403) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 21,773 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 24,176 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 2,403 | ||||
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 | 10,841 | ||||
Total Cost | |||||
Land | 9,441 | ||||
Building & Improvements | 14,610 | ||||
Total | 24,051 | 24,051 | |||
Accumulated Depreciation | (1,821) | (1,821) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 22,230 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 24,051 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 1,821 | ||||
Aventura Square [Member] | |||||
Initial Cost | |||||
Land | 88,098 | ||||
Building & Improvements | 20,771 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,776 | ||||
Total Cost | |||||
Land | 89,657 | ||||
Building & Improvements | 20,988 | ||||
Total | 110,645 | 110,645 | |||
Accumulated Depreciation | (2,306) | (2,306) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 108,339 | ||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (6,008) | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 110,645 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 2,306 | ||||
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 | 14,082 | ||||
Total Cost | |||||
Land | 27,758 | ||||
Building & Improvements | 43,236 | ||||
Total | 70,994 | 70,994 | |||
Accumulated Depreciation | (14,003) | (14,003) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 56,991 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 70,994 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 14,003 | ||||
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 | (32) | ||||
Total Cost | |||||
Land | 2,160 | ||||
Building & Improvements | 1,105 | ||||
Total | 3,265 | 3,265 | |||
Accumulated Depreciation | (1,247) | (1,247) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 2,018 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 3,265 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 1,247 | ||||
Belleview Square [Member] | |||||
Initial Cost | |||||
Land | 8,132 | ||||
Building & Improvements | 9,756 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 3,735 | ||||
Total Cost | |||||
Land | 8,323 | ||||
Building & Improvements | 13,300 | ||||
Total | 21,623 | 21,623 | |||
Accumulated Depreciation | (8,543) | (8,543) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 13,080 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 21,623 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 8,543 | ||||
Belmont Chase [Member] | |||||
Initial Cost | |||||
Land | 13,881 | ||||
Building & Improvements | 17,193 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (494) | ||||
Total Cost | |||||
Land | 14,372 | ||||
Building & Improvements | 16,208 | ||||
Total | 30,580 | 30,580 | |||
Accumulated Depreciation | (4,738) | (4,738) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 25,842 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 30,580 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 4,738 | ||||
Berkshire Commons [Member] | |||||
Initial Cost | |||||
Land | 2,295 | ||||
Building & Improvements | 9,551 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 2,652 | ||||
Total Cost | |||||
Land | 2,965 | ||||
Building & Improvements | 11,533 | ||||
Total | 14,498 | 14,498 | |||
Accumulated Depreciation | (8,189) | (8,189) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 6,309 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 14,498 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 8,189 | ||||
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 | (25) | ||||
Total Cost | |||||
Land | 10,371 | ||||
Building & Improvements | 5,111 | ||||
Total | 15,482 | 15,482 | |||
Accumulated Depreciation | (640) | (640) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 14,842 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 15,482 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 640 | ||||
Bird Ludlam [Member] | |||||
Initial Cost | |||||
Land | 42,663 | ||||
Building & Improvements | 38,481 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 336 | ||||
Total Cost | |||||
Land | 42,663 | ||||
Building & Improvements | 38,817 | ||||
Total | 81,480 | 81,480 | |||
Accumulated Depreciation | (4,066) | (4,066) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 77,414 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 81,480 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 4,066 | ||||
Black Rock [Member] | |||||
Initial Cost | |||||
Land | 22,251 | ||||
Building & Improvements | 20,815 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 497 | ||||
Total Cost | |||||
Land | 22,251 | ||||
Building & Improvements | 21,312 | ||||
Total | 43,563 | 43,563 | |||
Accumulated Depreciation | (4,879) | (4,879) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 38,684 | ||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (19,767) | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 43,563 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 4,879 | ||||
Bloomingdale Square [Member] | |||||
Initial Cost | |||||
Land | 3,940 | ||||
Building & Improvements | 14,912 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,690 | ||||
Total Cost | |||||
Land | 4,559 | ||||
Building & Improvements | 15,983 | ||||
Total | 20,542 | 20,542 | |||
Accumulated Depreciation | (9,432) | (9,432) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 11,110 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 20,542 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 9,432 | ||||
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 | (72) | ||||
Total Cost | |||||
Land | 43,888 | ||||
Building & Improvements | 9,654 | ||||
Total | 53,542 | 53,542 | |||
Accumulated Depreciation | (1,475) | (1,475) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 52,067 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 53,542 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 1,475 | ||||
Boulevard Center [Member] | |||||
Initial Cost | |||||
Land | 3,659 | ||||
Building & Improvements | 10,787 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 2,606 | ||||
Total Cost | |||||
Land | 3,659 | ||||
Building & Improvements | 13,393 | ||||
Total | 17,052 | 17,052 | |||
Accumulated Depreciation | (7,636) | (7,636) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 9,416 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 17,052 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 7,636 | ||||
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 | 5,019 | ||||
Total Cost | |||||
Land | 3,606 | ||||
Building & Improvements | 15,277 | ||||
Total | 18,883 | 18,883 | |||
Accumulated Depreciation | (7,985) | (7,985) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 10,898 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 18,883 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 7,985 | ||||
Boynton Plaza [Member] | |||||
Initial Cost | |||||
Land | 12,879 | ||||
Building & Improvements | 20,713 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 125 | ||||
Total Cost | |||||
Land | 12,879 | ||||
Building & Improvements | 20,838 | ||||
Total | 33,717 | 33,717 | |||
Accumulated Depreciation | (2,313) | (2,313) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 31,404 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 33,717 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 2,313 | ||||
Brentwood Plaza [Member] | |||||
Initial Cost | |||||
Land | 2,788 | ||||
Building & Improvements | 3,473 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 353 | ||||
Total Cost | |||||
Land | 2,788 | ||||
Building & Improvements | 3,826 | ||||
Total | 6,614 | 6,614 | |||
Accumulated Depreciation | (1,540) | (1,540) | |||
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 | 6,614 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 1,540 | ||||
Briarcliff La Vista [Member] | |||||
Initial Cost | |||||
Land | 694 | ||||
Building & Improvements | 3,292 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 551 | ||||
Total Cost | |||||
Land | 694 | ||||
Building & Improvements | 3,843 | ||||
Total | 4,537 | 4,537 | |||
Accumulated Depreciation | (3,012) | (3,012) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 1,525 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 4,537 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 3,012 | ||||
Briarcliff Village [Member] | |||||
Initial Cost | |||||
Land | 4,597 | ||||
Building & Improvements | 24,836 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 2,572 | ||||
Total Cost | |||||
Land | 4,597 | ||||
Building & Improvements | 27,408 | ||||
Total | 32,005 | 32,005 | |||
Accumulated Depreciation | (19,493) | (19,493) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 12,512 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 32,005 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 19,493 | ||||
Brick Walk [Member] | |||||
Initial Cost | |||||
Land | 25,299 | ||||
Building & Improvements | 41,995 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,365 | ||||
Total Cost | |||||
Land | 25,299 | ||||
Building & Improvements | 43,360 | ||||
Total | 68,659 | 68,659 | |||
Accumulated Depreciation | (7,988) | (7,988) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 60,671 | ||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (32,952) | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 68,659 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 7,988 | ||||
BridgeMill Market [Member] | |||||
Initial Cost | |||||
Land | 7,521 | ||||
Building & Improvements | 13,306 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 429 | ||||
Total Cost | |||||
Land | 7,522 | ||||
Building & Improvements | 13,734 | ||||
Total | 21,256 | 21,256 | |||
Accumulated Depreciation | (1,842) | (1,842) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 19,414 | ||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (4,582) | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 21,256 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 1,842 | ||||
Bridgeton [Member] | |||||
Initial Cost | |||||
Land | 3,033 | ||||
Building & Improvements | 8,137 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 605 | ||||
Total Cost | |||||
Land | 3,067 | ||||
Building & Improvements | 8,708 | ||||
Total | 11,775 | 11,775 | |||
Accumulated Depreciation | (2,915) | (2,915) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 8,860 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 11,775 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 2,915 | ||||
Brighten Park [Member] | |||||
Initial Cost | |||||
Land | 3,983 | ||||
Building & Improvements | 18,687 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 11,560 | ||||
Total Cost | |||||
Land | 4,234 | ||||
Building & Improvements | 29,996 | ||||
Total | 34,230 | 34,230 | |||
Accumulated Depreciation | (17,540) | (17,540) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 16,690 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 34,230 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 17,540 | ||||
Broadway Plaza [Member] | |||||
Initial Cost | |||||
Land | 40,723 | ||||
Building & Improvements | 42,170 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,453 | ||||
Total Cost | |||||
Land | 40,723 | ||||
Building & Improvements | 43,623 | ||||
Total | 84,346 | 84,346 | |||
Accumulated Depreciation | (4,207) | (4,207) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 80,139 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 84,346 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 4,207 | ||||
Brooklyn Station [Member] | |||||
Initial Cost | |||||
Land | 7,019 | ||||
Building & Improvements | 8,688 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 118 | ||||
Total Cost | |||||
Land | 6,998 | ||||
Building & Improvements | 8,827 | ||||
Total | 15,825 | 15,825 | |||
Accumulated Depreciation | (1,892) | (1,892) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 13,933 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 15,825 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 1,892 | ||||
Brookside Plaza [Member] | |||||
Initial Cost | |||||
Land | 35,161 | ||||
Building & Improvements | 17,494 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 130 | ||||
Total Cost | |||||
Land | 35,161 | ||||
Building & Improvements | 17,624 | ||||
Total | 52,785 | 52,785 | |||
Accumulated Depreciation | (2,841) | (2,841) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 49,944 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 52,785 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 2,841 | ||||
Buckhead Court [Member] | |||||
Initial Cost | |||||
Land | 1,417 | ||||
Building & Improvements | 7,432 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 4,300 | ||||
Total Cost | |||||
Land | 1,417 | ||||
Building & Improvements | 11,732 | ||||
Total | 13,149 | 13,149 | |||
Accumulated Depreciation | (7,666) | (7,666) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 5,483 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 13,149 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 7,666 | ||||
Buckhead Station [Member] | |||||
Initial Cost | |||||
Land | 70,411 | ||||
Building & Improvements | 36,518 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,445 | ||||
Total Cost | |||||
Land | 70,448 | ||||
Building & Improvements | 37,926 | ||||
Total | 108,374 | 108,374 | |||
Accumulated Depreciation | (4,917) | (4,917) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 103,457 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 108,374 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 4,917 | ||||
Buckley Square [Member] | |||||
Initial Cost | |||||
Land | 2,970 | ||||
Building & Improvements | 5,978 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,327 | ||||
Total Cost | |||||
Land | 2,970 | ||||
Building & Improvements | 7,305 | ||||
Total | 10,275 | 10,275 | |||
Accumulated Depreciation | (4,515) | (4,515) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 5,760 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 10,275 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 4,515 | ||||
Caligo Crossing [Member] | |||||
Initial Cost | |||||
Land | 2,459 | ||||
Building & Improvements | 4,897 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 101 | ||||
Total Cost | |||||
Land | 2,546 | ||||
Building & Improvements | 4,911 | ||||
Total | 7,457 | 7,457 | |||
Accumulated Depreciation | (3,114) | (3,114) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 4,343 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 7,457 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 3,114 | ||||
Cambridge Square [Member] | |||||
Initial Cost | |||||
Land | 774 | ||||
Building & Improvements | 4,347 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 796 | ||||
Total Cost | |||||
Land | 774 | ||||
Building & Improvements | 5,143 | ||||
Total | 5,917 | 5,917 | |||
Accumulated Depreciation | (3,435) | (3,435) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 2,482 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 5,917 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 3,435 | ||||
Carmel commons [Member] | |||||
Initial Cost | |||||
Land | 2,466 | ||||
Building & Improvements | 12,548 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 5,412 | ||||
Total Cost | |||||
Land | 3,422 | ||||
Building & Improvements | 17,004 | ||||
Total | 20,426 | 20,426 | |||
Accumulated Depreciation | (10,414) | (10,414) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 10,012 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 20,426 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 10,414 | ||||
Carriage Gate [Member] | |||||
Initial Cost | |||||
Land | 833 | ||||
Building & Improvements | 4,974 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 3,491 | ||||
Total Cost | |||||
Land | 1,302 | ||||
Building & Improvements | 7,996 | ||||
Total | 9,298 | 9,298 | |||
Accumulated Depreciation | (6,478) | (6,478) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 2,820 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 9,298 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 6,478 | ||||
Carytown Exchange [Member] | |||||
Initial Cost | |||||
Land | 4,378 | ||||
Building & Improvements | 1,328 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (54) | ||||
Total Cost | |||||
Land | 4,378 | ||||
Building & Improvements | 1,274 | ||||
Total | 5,652 | 5,652 | |||
Accumulated Depreciation | (55) | (55) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 5,597 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 5,652 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 55 | ||||
Cashmere Corners [Member] | |||||
Initial Cost | |||||
Land | 3,187 | ||||
Building & Improvements | 9,397 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 124 | ||||
Total Cost | |||||
Land | 3,187 | ||||
Building & Improvements | 9,521 | ||||
Total | 12,708 | 12,708 | |||
Accumulated Depreciation | (1,314) | (1,314) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 11,394 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 12,708 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 1,314 | ||||
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 | 1,265 | ||||
Total Cost | |||||
Land | 5,694 | ||||
Building & Improvements | 13,734 | ||||
Total | 19,428 | 19,428 | |||
Accumulated Depreciation | (5,468) | (5,468) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 13,960 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 19,428 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 5,468 | ||||
Charlotte Square [Member] | |||||
Initial Cost | |||||
Land | 1,141 | ||||
Building & Improvements | 6,845 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 842 | ||||
Total Cost | |||||
Land | 1,141 | ||||
Building & Improvements | 7,687 | ||||
Total | 8,828 | 8,828 | |||
Accumulated Depreciation | (1,074) | (1,074) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 7,754 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 8,828 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 1,074 | ||||
Chasewood Plaza [Member] | |||||
Initial Cost | |||||
Land | 4,612 | ||||
Building & Improvements | 20,829 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 5,719 | ||||
Total Cost | |||||
Land | 6,886 | ||||
Building & Improvements | 24,274 | ||||
Total | 31,160 | 31,160 | |||
Accumulated Depreciation | (18,237) | (18,237) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 12,923 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 31,160 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 18,237 | ||||
Chastain Square [Member] | |||||
Initial Cost | |||||
Land | 30,074 | ||||
Building & Improvements | 12,644 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,680 | ||||
Total Cost | |||||
Land | 30,074 | ||||
Building & Improvements | 14,324 | ||||
Total | 44,398 | 44,398 | |||
Accumulated Depreciation | (2,105) | (2,105) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 42,293 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 44,398 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 2,105 | ||||
Cherry Grove [Member] | |||||
Initial Cost | |||||
Land | 3,533 | ||||
Building & Improvements | 15,862 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 4,491 | ||||
Total Cost | |||||
Land | 3,533 | ||||
Building & Improvements | 20,353 | ||||
Total | 23,886 | 23,886 | |||
Accumulated Depreciation | (11,239) | (11,239) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 12,647 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 23,886 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 11,239 | ||||
Chimney Rock [Member] | |||||
Initial Cost | |||||
Land | 23,587 | ||||
Building & Improvements | 47,377 | ||||
Total Cost | |||||
Land | 23,587 | ||||
Building & Improvements | 47,377 | ||||
Total | 70,964 | 70,964 | |||
Accumulated Depreciation | (5,788) | (5,788) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 65,176 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 70,964 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 5,788 | ||||
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 | 134 | ||||
Total Cost | |||||
Land | 22,930 | ||||
Building & Improvements | 9,162 | ||||
Total | 32,092 | 32,092 | |||
Accumulated Depreciation | (1,137) | (1,137) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 30,955 | ||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (9,513) | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 32,092 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 1,137 | ||||
Circle Marina Center [Member] | |||||
Initial Cost | |||||
Land | 29,303 | ||||
Building & Improvements | 18,408 | ||||
Total Cost | |||||
Land | 29,303 | ||||
Building & Improvements | 18,408 | ||||
Total | 47,711 | 47,711 | |||
Accumulated Depreciation | (186) | (186) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 47,525 | ||||
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 | 47,711 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 186 | ||||
City Line Market [Member] | |||||
Initial Cost | |||||
Land | 12,208 | ||||
Building & Improvements | 15,839 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 161 | ||||
Total Cost | |||||
Land | 12,306 | ||||
Building & Improvements | 15,902 | ||||
Total | 28,208 | 28,208 | |||
Accumulated Depreciation | (3,129) | (3,129) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 25,079 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 28,208 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 3,129 | ||||
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 | (1) | ||||
Total Cost | |||||
Land | 2,744 | ||||
Building & Improvements | 3,080 | ||||
Total | 5,824 | 5,824 | |||
Accumulated Depreciation | (540) | (540) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 5,284 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 5,824 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 540 | ||||
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 | 3,012 | ||||
Total Cost | |||||
Land | 24,538 | ||||
Building & Improvements | 38,085 | ||||
Total | 62,623 | 62,623 | |||
Accumulated Depreciation | (26,143) | (26,143) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 36,480 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 62,623 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 26,143 | ||||
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 | 223 | ||||
Total Cost | |||||
Land | 49,630 | ||||
Building & Improvements | 19,847 | ||||
Total | 69,477 | 69,477 | |||
Accumulated Depreciation | (2,012) | (2,012) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 67,465 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 69,477 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 2,012 | ||||
Clybourn Commons [Member] | |||||
Initial Cost | |||||
Land | 15,056 | ||||
Building & Improvements | 5,594 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 229 | ||||
Total Cost | |||||
Land | 15,056 | ||||
Building & Improvements | 5,823 | ||||
Total | 20,879 | 20,879 | |||
Accumulated Depreciation | (1,321) | (1,321) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 19,558 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 20,879 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 1,321 | ||||
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 | 1,640 | ||||
Total Cost | |||||
Land | 13,154 | ||||
Building & Improvements | 13,955 | ||||
Total | 27,109 | 27,109 | |||
Accumulated Depreciation | (10,247) | (10,247) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 16,862 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 27,109 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 10,247 | ||||
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 | 765 | ||||
Total Cost | |||||
Land | 28,627 | ||||
Building & Improvements | 11,160 | ||||
Total | 39,787 | 39,787 | |||
Accumulated Depreciation | (1,097) | (1,097) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 38,690 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 39,787 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 1,097 | ||||
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 | 638 | ||||
Total Cost | |||||
Land | 31,272 | ||||
Building & Improvements | 36,691 | ||||
Total | 67,963 | 67,963 | |||
Accumulated Depreciation | (3,708) | (3,708) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 64,255 | ||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (27,750) | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 67,963 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 3,708 | ||||
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 | 411 | ||||
Total Cost | |||||
Land | 29,514 | ||||
Building & Improvements | 41,085 | ||||
Total | 70,599 | 70,599 | |||
Accumulated Depreciation | (4,405) | (4,405) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 66,194 | ||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (12,307) | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 70,599 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 4,405 | ||||
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 | 3,414 | ||||
Total Cost | |||||
Land | 15,011 | ||||
Building & Improvements | 18,525 | ||||
Total | 33,536 | 33,536 | |||
Accumulated Depreciation | (1,769) | (1,769) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 31,767 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 33,536 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 1,769 | ||||
Corkscrew Village [Member] | |||||
Initial Cost | |||||
Land | 8,407 | ||||
Building & Improvements | 8,004 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 620 | ||||
Total Cost | |||||
Land | 8,407 | ||||
Building & Improvements | 8,624 | ||||
Total | 17,031 | 17,031 | |||
Accumulated Depreciation | (3,703) | (3,703) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 13,328 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 17,031 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 3,703 | ||||
Cornerstone Square [Member] | |||||
Initial Cost | |||||
Land | 1,772 | ||||
Building & Improvements | 6,944 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,701 | ||||
Total Cost | |||||
Land | 1,772 | ||||
Building & Improvements | 8,645 | ||||
Total | 10,417 | 10,417 | |||
Accumulated Depreciation | (5,964) | (5,964) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 4,453 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 10,417 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 5,964 | ||||
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 | 468 | ||||
Total Cost | |||||
Land | 6,696 | ||||
Building & Improvements | 12,690 | ||||
Total | 19,386 | 19,386 | |||
Accumulated Depreciation | (6,226) | (6,226) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 13,160 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 19,386 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 6,226 | ||||
Costa Verde Center [Member] | |||||
Initial Cost | |||||
Land | 12,740 | ||||
Building & Improvements | 26,868 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,623 | ||||
Total Cost | |||||
Land | 12,798 | ||||
Building & Improvements | 28,433 | ||||
Total | 41,231 | 41,231 | |||
Accumulated Depreciation | (21,159) | (21,159) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 20,072 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 41,231 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 21,159 | ||||
Countryside Shops [Member] | |||||
Initial Cost | |||||
Land | 17,982 | ||||
Building & Improvements | 35,574 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 14,750 | ||||
Total Cost | |||||
Land | 23,154 | ||||
Building & Improvements | 45,152 | ||||
Total | 68,306 | 68,306 | |||
Accumulated Depreciation | (5,292) | (5,292) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 63,014 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 68,306 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 5,292 | ||||
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 | 5,874 | |||
Accumulated Depreciation | (2) | (2) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 5,872 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 5,874 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 2 | ||||
Culver Center [Member] | |||||
Initial Cost | |||||
Land | 108,841 | ||||
Building & Improvements | 32,308 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 854 | ||||
Total Cost | |||||
Land | 108,841 | ||||
Building & Improvements | 33,162 | ||||
Total | 142,003 | 142,003 | |||
Accumulated Depreciation | (4,025) | (4,025) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 137,978 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 142,003 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 4,025 | ||||
Danbury Green [Member] | |||||
Initial Cost | |||||
Land | 30,303 | ||||
Building & Improvements | 19,255 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 211 | ||||
Total Cost | |||||
Land | 30,303 | ||||
Building & Improvements | 19,466 | ||||
Total | 49,769 | 49,769 | |||
Accumulated Depreciation | (2,024) | (2,024) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 47,745 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 49,769 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 2,024 | ||||
Dardenne Crossing [Member] | |||||
Initial Cost | |||||
Land | 4,194 | ||||
Building & Improvements | 4,005 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 433 | ||||
Total Cost | |||||
Land | 4,343 | ||||
Building & Improvements | 4,289 | ||||
Total | 8,632 | 8,632 | |||
Accumulated Depreciation | (2,023) | (2,023) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 6,609 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 8,632 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 2,023 | ||||
Darinor Plaza [Member] | |||||
Initial Cost | |||||
Land | 693 | ||||
Building & Improvements | 32,140 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 787 | ||||
Total Cost | |||||
Land | 711 | ||||
Building & Improvements | 32,909 | ||||
Total | 33,620 | 33,620 | |||
Accumulated Depreciation | (3,498) | (3,498) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 30,122 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 33,620 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 3,498 | ||||
Diablo Plaza [Member] | |||||
Initial Cost | |||||
Land | 5,300 | ||||
Building & Improvements | 8,181 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 2,129 | ||||
Total Cost | |||||
Land | 5,300 | ||||
Building & Improvements | 10,310 | ||||
Total | 15,610 | 15,610 | |||
Accumulated Depreciation | (5,605) | (5,605) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 10,005 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 15,610 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 5,605 | ||||
Dunwoody Village [Member] | |||||
Initial Cost | |||||
Land | 3,342 | ||||
Building & Improvements | 15,934 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 4,780 | ||||
Total Cost | |||||
Land | 3,342 | ||||
Building & Improvements | 20,714 | ||||
Total | 24,056 | 24,056 | |||
Accumulated Depreciation | (15,219) | (15,219) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 8,837 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 24,056 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 15,219 | ||||
East Pointe [Member] | |||||
Initial Cost | |||||
Land | 1,730 | ||||
Building & Improvements | 7,189 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 2,142 | ||||
Total Cost | |||||
Land | 1,941 | ||||
Building & Improvements | 9,120 | ||||
Total | 11,061 | 11,061 | |||
Accumulated Depreciation | (5,962) | (5,962) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 5,099 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 11,061 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 5,962 | ||||
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 | 12,906 | ||||
Total Cost | |||||
Land | 10,328 | ||||
Building & Improvements | 21,716 | ||||
Total | 32,044 | 32,044 | |||
Accumulated Depreciation | (8,742) | (8,742) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 23,302 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 32,044 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 8,742 | ||||
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 | 2,463 | ||||
Total Cost | |||||
Land | 11,025 | ||||
Building & Improvements | 29,834 | ||||
Total | 40,859 | 40,859 | |||
Accumulated Depreciation | (11,474) | (11,474) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 29,385 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 40,859 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 11,474 | ||||
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 | 3,404 | ||||
Total Cost | |||||
Land | 3,263 | ||||
Building & Improvements | 10,345 | ||||
Total | 13,608 | 13,608 | |||
Accumulated Depreciation | (5,820) | (5,820) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 7,788 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 13,608 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 5,820 | ||||
Encina Grande [Member] | |||||
Initial Cost | |||||
Land | 5,040 | ||||
Building & Improvements | 11,572 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 20,057 | ||||
Total Cost | |||||
Land | 10,518 | ||||
Building & Improvements | 26,151 | ||||
Total | 36,669 | 36,669 | |||
Accumulated Depreciation | (12,525) | (12,525) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 24,144 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 36,669 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 12,525 | ||||
Fairfield [Member] | |||||
Initial Cost | |||||
Land | 6,731 | ||||
Building & Improvements | 29,420 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,069 | ||||
Total Cost | |||||
Land | 6,731 | ||||
Building & Improvements | 30,489 | ||||
Total | 37,220 | 37,220 | |||
Accumulated Depreciation | (5,529) | (5,529) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 31,691 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 37,220 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 5,529 | ||||
Falcon [Member] | |||||
Initial Cost | |||||
Land | 1,340 | ||||
Building & Improvements | 4,168 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 429 | ||||
Total Cost | |||||
Land | 1,340 | ||||
Building & Improvements | 4,597 | ||||
Total | 5,937 | 5,937 | |||
Accumulated Depreciation | (2,465) | (2,465) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 3,472 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 5,937 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 2,465 | ||||
Fellsway Plaza [Member] | |||||
Initial Cost | |||||
Land | 30,712 | ||||
Building & Improvements | 7,327 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 10,017 | ||||
Total Cost | |||||
Land | 34,923 | ||||
Building & Improvements | 13,133 | ||||
Total | 48,056 | 48,056 | |||
Accumulated Depreciation | (6,030) | (6,030) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 42,026 | ||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (37,166) | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 48,056 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 6,030 | ||||
Fenton Marketplace [Member] | |||||
Initial Cost | |||||
Land | 2,298 | ||||
Building & Improvements | 8,510 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (8,092) | ||||
Total Cost | |||||
Land | 512 | ||||
Building & Improvements | 2,204 | ||||
Total | 2,716 | 2,716 | |||
Accumulated Depreciation | (981) | (981) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 1,735 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 2,716 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 981 | ||||
Fleming Island [Member] | |||||
Initial Cost | |||||
Land | 3,077 | ||||
Building & Improvements | 11,587 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 3,047 | ||||
Total Cost | |||||
Land | 3,111 | ||||
Building & Improvements | 14,600 | ||||
Total | 17,711 | 17,711 | |||
Accumulated Depreciation | (8,409) | (8,409) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 9,302 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 17,711 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 8,409 | ||||
Folsom 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 | 838 | ||||
Total Cost | |||||
Land | 4,164 | ||||
Building & Improvements | 13,870 | ||||
Total | 18,034 | 18,034 | |||
Accumulated Depreciation | (6,657) | (6,657) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 11,377 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 18,034 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 6,657 | ||||
Fountain Square [Member] | |||||
Initial Cost | |||||
Land | 29,650 | ||||
Building & Improvements | 29,048 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (98) | ||||
Total Cost | |||||
Land | 29,712 | ||||
Building & Improvements | 28,888 | ||||
Total | 58,600 | 58,600 | |||
Accumulated Depreciation | (8,062) | (8,062) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 50,538 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 58,600 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 8,062 | ||||
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 | 298 | ||||
Total Cost | |||||
Land | 11,822 | ||||
Building & Improvements | 17,256 | ||||
Total | 29,078 | 29,078 | |||
Accumulated Depreciation | (13,204) | (13,204) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 15,874 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 29,078 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 13,204 | ||||
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 | 1,913 | ||||
Total Cost | |||||
Land | 6,660 | ||||
Building & Improvements | 29,934 | ||||
Total | 36,594 | 36,594 | |||
Accumulated Depreciation | (15,937) | (15,937) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 20,657 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 36,594 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 15,937 | ||||
Gardens Square [Member] | |||||
Initial Cost | |||||
Land | 2,136 | ||||
Building & Improvements | 8,273 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 696 | ||||
Total Cost | |||||
Land | 2,136 | ||||
Building & Improvements | 8,969 | ||||
Total | 11,105 | 11,105 | |||
Accumulated Depreciation | (5,234) | (5,234) | |||
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 | 11,105 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 5,234 | ||||
Gateway 101 [Member] | |||||
Initial Cost | |||||
Land | 24,971 | ||||
Building & Improvements | 9,113 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,271 | ||||
Total Cost | |||||
Land | 24,971 | ||||
Building & Improvements | 10,384 | ||||
Total | 35,355 | 35,355 | |||
Accumulated Depreciation | (3,779) | (3,779) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 31,576 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 35,355 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 3,779 | ||||
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 | 10,736 | ||||
Total Cost | |||||
Land | 55,346 | ||||
Building & Improvements | 15,189 | ||||
Total | 70,535 | 70,535 | |||
Accumulated Depreciation | (16,617) | (16,617) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 53,918 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 70,535 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 16,617 | ||||
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 | 5,876 | ||||
Total Cost | |||||
Land | 4,654 | ||||
Building & Improvements | 15,532 | ||||
Total | 20,186 | 20,186 | |||
Accumulated Depreciation | (7,607) | (7,607) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 12,579 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 20,186 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 7,607 | ||||
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 | 955 | ||||
Total Cost | |||||
Land | 4,103 | ||||
Building & Improvements | 13,906 | ||||
Total | 18,009 | 18,009 | |||
Accumulated Depreciation | (4,344) | (4,344) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 13,665 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 18,009 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 4,344 | ||||
Glengary Shoppes [Member] | |||||
Initial Cost | |||||
Land | 9,120 | ||||
Building & Improvements | 11,541 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 887 | ||||
Total Cost | |||||
Land | 9,120 | ||||
Building & Improvements | 12,428 | ||||
Total | 21,548 | 21,548 | |||
Accumulated Depreciation | (1,592) | (1,592) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 19,956 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 21,548 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 1,592 | ||||
Glenwood Village [Member] | |||||
Initial Cost | |||||
Land | 1,194 | ||||
Building & Improvements | 5,381 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 331 | ||||
Total Cost | |||||
Land | 1,194 | ||||
Building & Improvements | 5,712 | ||||
Total | 6,906 | 6,906 | |||
Accumulated Depreciation | (4,481) | (4,481) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 2,425 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 6,906 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 4,481 | ||||
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 | 3,602 | ||||
Total Cost | |||||
Land | 11,518 | ||||
Building & Improvements | 23,265 | ||||
Total | 34,783 | 34,783 | |||
Accumulated Depreciation | (9,736) | (9,736) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 25,047 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 34,783 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 9,736 | ||||
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 | 6,171 | ||||
Total Cost | |||||
Land | 24,918 | ||||
Building & Improvements | 66,494 | ||||
Total | 91,412 | 91,412 | |||
Accumulated Depreciation | (20,355) | (20,355) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 71,057 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 91,412 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 20,355 | ||||
Greenwood Shpping Centre [Member] | |||||
Initial Cost | |||||
Land | 7,777 | ||||
Building & Improvements | 24,829 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 468 | ||||
Total Cost | |||||
Land | 7,777 | ||||
Building & Improvements | 25,297 | ||||
Total | 33,074 | 33,074 | |||
Accumulated Depreciation | (2,898) | (2,898) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 30,176 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 33,074 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 2,898 | ||||
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 | 565 | ||||
Total Cost | |||||
Land | 28,764 | ||||
Building & Improvements | 25,678 | ||||
Total | 54,442 | 54,442 | |||
Accumulated Depreciation | (3,140) | (3,140) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 51,302 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 54,442 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 3,140 | ||||
Hancock [Member] | |||||
Initial Cost | |||||
Land | 8,232 | ||||
Building & Improvements | 28,260 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,453 | ||||
Total Cost | |||||
Land | 8,232 | ||||
Building & Improvements | 29,713 | ||||
Total | 37,945 | 37,945 | |||
Accumulated Depreciation | (16,470) | (16,470) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 21,475 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 37,945 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 16,470 | ||||
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 | 766 | ||||
Total Cost | |||||
Land | 2,284 | ||||
Building & Improvements | 10,209 | ||||
Total | 12,493 | 12,493 | |||
Accumulated Depreciation | (5,595) | (5,595) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 6,898 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 12,493 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 5,595 | ||||
Harris Crossing [Member] | |||||
Initial Cost | |||||
Land | 7,199 | ||||
Building & Improvements | 3,687 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (1,523) | ||||
Total Cost | |||||
Land | 5,508 | ||||
Building & Improvements | 3,855 | ||||
Total | 9,363 | 9,363 | |||
Accumulated Depreciation | (2,744) | (2,744) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 6,619 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 9,363 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 2,744 | ||||
Heritage Plaza [Member] | |||||
Initial Cost | |||||
Land | 12,390 | ||||
Building & Improvements | 26,097 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 14,156 | ||||
Total Cost | |||||
Land | 12,215 | ||||
Building & Improvements | 40,428 | ||||
Total | 52,643 | 52,643 | |||
Accumulated Depreciation | (18,704) | (18,704) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 33,939 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 52,643 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 18,704 | ||||
Hershey [Member] | |||||
Initial Cost | |||||
Land | 7 | ||||
Building & Improvements | 808 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 10 | ||||
Total Cost | |||||
Land | 7 | ||||
Building & Improvements | 818 | ||||
Total | 825 | 825 | |||
Accumulated Depreciation | (464) | (464) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 361 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 825 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 464 | ||||
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 | 749 | ||||
Total Cost | |||||
Land | 11,850 | ||||
Building & Improvements | 18,954 | ||||
Total | 30,804 | 30,804 | |||
Accumulated Depreciation | (1,253) | (1,253) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 29,551 | ||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (9,400) | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 30,804 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 1,253 | ||||
Hibernia Pavilion [Member] | |||||
Initial Cost | |||||
Land | 4,929 | ||||
Building & Improvements | 5,065 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 188 | ||||
Total Cost | |||||
Land | 4,929 | ||||
Building & Improvements | 5,253 | ||||
Total | 10,182 | 10,182 | |||
Accumulated Depreciation | (3,289) | (3,289) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 6,893 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 10,182 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 3,289 | ||||
Hickory Creek Plaza [Member] | |||||
Initial Cost | |||||
Land | 5,629 | ||||
Building & Improvements | 4,564 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 452 | ||||
Total Cost | |||||
Land | 5,629 | ||||
Building & Improvements | 5,016 | ||||
Total | 10,645 | 10,645 | |||
Accumulated Depreciation | (4,687) | (4,687) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 5,958 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 10,645 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 4,687 | ||||
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 | 3,560 | |||
Accumulated Depreciation | (1,047) | (1,047) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 2,513 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 3,560 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 1,047 | ||||
Hilltop Village [Member] | |||||
Initial Cost | |||||
Land | 2,995 | ||||
Building & Improvements | 4,581 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 3,696 | ||||
Total Cost | |||||
Land | 3,104 | ||||
Building & Improvements | 8,168 | ||||
Total | 11,272 | 11,272 | |||
Accumulated Depreciation | (2,950) | (2,950) | |||
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 | 11,272 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 2,950 | ||||
Hinsdale [Member] | |||||
Initial Cost | |||||
Land | 5,734 | ||||
Building & Improvements | 16,709 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 11,686 | ||||
Total Cost | |||||
Land | 8,343 | ||||
Building & Improvements | 25,786 | ||||
Total | 34,129 | 34,129 | |||
Accumulated Depreciation | (13,837) | (13,837) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 20,292 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 34,129 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 13,837 | ||||
Holly Park [Member] | |||||
Initial Cost | |||||
Land | 8,975 | ||||
Building & Improvements | 23,799 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,719 | ||||
Total Cost | |||||
Land | 8,828 | ||||
Building & Improvements | 25,665 | ||||
Total | 34,493 | 34,493 | |||
Accumulated Depreciation | (5,315) | (5,315) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 29,178 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 34,493 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 5,315 | ||||
Homestead McDonald's [Member] | |||||
Initial Cost | |||||
Land | 2,229 | ||||
Total Cost | |||||
Land | 2,229 | ||||
Total | 2,229 | 2,229 | |||
Accumulated Depreciation | (22) | (22) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 2,207 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 2,229 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 22 | ||||
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 | 2,687 | ||||
Total Cost | |||||
Land | 5,157 | ||||
Building & Improvements | 16,966 | ||||
Total | 22,123 | 22,123 | |||
Accumulated Depreciation | (6,852) | (6,852) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 15,271 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 22,123 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 6,852 | ||||
Hyde Park [Member] | |||||
Initial Cost | |||||
Land | $ 9,809 | ||||
Building & Improvements | 39,905 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 3,998 | ||||
Total Cost | |||||
Land | 9,809 | ||||
Building & Improvements | 43,903 | ||||
Total | 53,712 | 53,712 | |||
Accumulated Depreciation | (26,363) | (26,363) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 27,349 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 53,712 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 26,363 | ||||
Indian Springs [Member] | |||||
Initial Cost | |||||
Land | 24,974 | ||||
Building & Improvements | 25,903 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 668 | ||||
Total Cost | |||||
Land | 25,034 | ||||
Building & Improvements | 26,511 | ||||
Total | 51,545 | 51,545 | |||
Accumulated Depreciation | (4,986) | (4,986) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 46,559 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 51,545 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 4,986 | ||||
Indigo Square [Member] | |||||
Initial Cost | |||||
Land | 8,088 | ||||
Building & Improvements | 9,697 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 8 | ||||
Total Cost | |||||
Land | 8,088 | ||||
Building & Improvements | 9,705 | ||||
Total | 17,793 | 17,793 | |||
Accumulated Depreciation | (610) | (610) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 17,183 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 17,793 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 610 | ||||
Inglewood Plaza [Member] | |||||
Initial Cost | |||||
Land | 1,300 | ||||
Building & Improvements | 2,159 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 829 | ||||
Total Cost | |||||
Land | 1,300 | ||||
Building & Improvements | 2,988 | ||||
Total | 4,288 | 4,288 | |||
Accumulated Depreciation | (1,583) | (1,583) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 2,705 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 4,288 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 1,583 | ||||
Jefferson Square [Member] | |||||
Initial Cost | |||||
Land | 5,167 | ||||
Building & Improvements | 6,445 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (7,219) | ||||
Total Cost | |||||
Land | 1,894 | ||||
Building & Improvements | 2,499 | ||||
Total | 4,393 | 4,393 | |||
Accumulated Depreciation | (945) | (945) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 3,448 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 4,393 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 945 | ||||
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 | 758 | ||||
Total Cost | |||||
Land | 2,404 | ||||
Building & Improvements | 13,489 | ||||
Total | 15,893 | 15,893 | |||
Accumulated Depreciation | (7,144) | (7,144) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 8,749 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 15,893 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 7,144 | ||||
Kent Place [Member] | |||||
Initial Cost | |||||
Land | 4,855 | ||||
Building & Improvements | 3,586 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 963 | ||||
Total Cost | |||||
Land | 5,269 | ||||
Building & Improvements | 4,135 | ||||
Total | 9,404 | 9,404 | |||
Accumulated Depreciation | (1,160) | (1,160) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 8,244 | ||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (8,250) | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 9,404 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 1,160 | ||||
Kirkman Shoppes [Member] | |||||
Initial Cost | |||||
Land | 9,364 | ||||
Building & Improvements | 26,243 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 543 | ||||
Total Cost | |||||
Land | 9,367 | ||||
Building & Improvements | 26,783 | ||||
Total | 36,150 | 36,150 | |||
Accumulated Depreciation | (2,806) | (2,806) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 33,344 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 36,150 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 2,806 | ||||
Kirkwood Commons [Member] | |||||
Initial Cost | |||||
Land | 6,772 | ||||
Building & Improvements | 16,224 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 909 | ||||
Total Cost | |||||
Land | 6,802 | ||||
Building & Improvements | 17,103 | ||||
Total | 23,905 | 23,905 | |||
Accumulated Depreciation | (5,095) | (5,095) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 18,810 | ||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (8,050) | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 23,905 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 5,095 | ||||
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 | 578 | ||||
Total Cost | |||||
Land | 14,451 | ||||
Building & Improvements | 20,667 | ||||
Total | 35,118 | 35,118 | |||
Accumulated Depreciation | (2,705) | (2,705) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 32,413 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 35,118 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 2,705 | ||||
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 | 1,385 | ||||
Total Cost | |||||
Land | 3,844 | ||||
Building & Improvements | 7,984 | ||||
Total | 11,828 | 11,828 | |||
Accumulated Depreciation | (5,744) | (5,744) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 6,084 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 11,828 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 5,744 | ||||
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 | 1,682 | ||||
Total Cost | |||||
Land | 24,036 | ||||
Building & Improvements | 59,158 | ||||
Total | 83,194 | 83,194 | |||
Accumulated Depreciation | (7,003) | (7,003) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 76,191 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 83,194 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 7,003 | ||||
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 | 860 | ||||
Total Cost | |||||
Land | 2,029 | ||||
Building & Improvements | 8,471 | ||||
Total | 10,500 | 10,500 | |||
Accumulated Depreciation | (4,834) | (4,834) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 5,666 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 10,500 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 4,834 | ||||
Lantana Outparcels [Member] | |||||
Initial Cost | |||||
Land | 3,710 | ||||
Building & Improvements | 1,004 | ||||
Total Cost | |||||
Land | 3,710 | ||||
Building & Improvements | 1,004 | ||||
Total | 4,714 | 4,714 | |||
Accumulated Depreciation | (242) | (242) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 4,472 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 4,714 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 242 | ||||
Lebanon Center [Member] | |||||
Initial Cost | |||||
Land | 3,913 | ||||
Building & Improvements | 7,874 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 866 | ||||
Total Cost | |||||
Land | 3,913 | ||||
Building & Improvements | 8,740 | ||||
Total | 12,653 | 12,653 | |||
Accumulated Depreciation | (6,184) | (6,184) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 6,469 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 12,653 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 6,184 | ||||
Littleton Square [Member] | |||||
Initial Cost | |||||
Land | 2,030 | ||||
Building & Improvements | 8,859 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (3,671) | ||||
Total Cost | |||||
Land | 2,423 | ||||
Building & Improvements | 4,795 | ||||
Total | 7,218 | 7,218 | |||
Accumulated Depreciation | (2,422) | (2,422) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 4,796 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 7,218 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 2,422 | ||||
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 | 1,279 | ||||
Total Cost | |||||
Land | 1,779 | ||||
Building & Improvements | 11,339 | ||||
Total | 13,118 | 13,118 | |||
Accumulated Depreciation | (6,542) | (6,542) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 6,576 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 13,118 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 6,542 | ||||
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 | 4,040 | ||||
Total Cost | |||||
Land | 16,343 | ||||
Building & Improvements | 16,653 | ||||
Total | 32,996 | 32,996 | |||
Accumulated Depreciation | (9,759) | (9,759) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 23,237 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 32,996 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 9,759 | ||||
Mandarin Landing [Member] | |||||
Initial Cost | |||||
Land | 7,913 | ||||
Building & Improvements | 27,230 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 342 | ||||
Total Cost | |||||
Land | 7,913 | ||||
Building & Improvements | 27,572 | ||||
Total | 35,485 | 35,485 | |||
Accumulated Depreciation | (3,158) | (3,158) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 32,327 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 35,485 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 3,158 | ||||
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 | 87 | ||||
Total Cost | |||||
Land | 6,160 | ||||
Building & Improvements | 10,221 | ||||
Total | 16,381 | 16,381 | |||
Accumulated Depreciation | (4,363) | (4,363) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 12,018 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 16,381 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 4,363 | ||||
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 | 1,695 | ||||
Total Cost | |||||
Land | 4,400 | ||||
Building & Improvements | 13,140 | ||||
Total | 17,540 | 17,540 | |||
Accumulated Depreciation | (7,313) | (7,313) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 10,227 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 17,540 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 7,313 | ||||
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 | 6,634 | ||||
Total Cost | |||||
Land | 1,996 | ||||
Building & Improvements | 16,314 | ||||
Total | 18,310 | 18,310 | |||
Accumulated Depreciation | (10,225) | (10,225) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 8,085 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 18,310 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 10,225 | ||||
Market at Springwoods Village [Member] | |||||
Initial Cost | |||||
Land | 12,570 | ||||
Building & Improvements | 12,841 | ||||
Total Cost | |||||
Land | 12,570 | ||||
Building & Improvements | 12,841 | ||||
Total | 25,411 | 25,411 | |||
Accumulated Depreciation | (1,818) | (1,818) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 23,593 | ||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (7,350) | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 25,411 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 1,818 | ||||
Market Common Clarendon [Member] | |||||
Initial Cost | |||||
Land | 154,932 | ||||
Building & Improvements | 126,328 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (5,914) | ||||
Total Cost | |||||
Land | 154,932 | ||||
Building & Improvements | 120,414 | ||||
Total | 275,346 | 275,346 | |||
Accumulated Depreciation | (14,375) | (14,375) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 260,971 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 275,346 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 14,375 | ||||
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 | 155 | ||||
Total Cost | |||||
Land | 1,727 | ||||
Building & Improvements | 5,019 | ||||
Total | 6,746 | 6,746 | |||
Accumulated Depreciation | (2,877) | (2,877) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 3,869 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 6,746 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 2,877 | ||||
Mellody Farm [Member] | |||||
Initial Cost | |||||
Land | 35,455 | ||||
Building & Improvements | 63,979 | ||||
Total Cost | |||||
Land | 35,455 | ||||
Building & Improvements | 63,979 | ||||
Total | 99,434 | 99,434 | |||
Accumulated Depreciation | (3,725) | (3,725) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 95,709 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 99,434 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 3,725 | ||||
Melrose Market [Member] | |||||
Initial Cost | |||||
Land | 4,451 | ||||
Building & Improvements | 10,807 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 5 | ||||
Total Cost | |||||
Land | 4,451 | ||||
Building & Improvements | 10,812 | ||||
Total | 15,263 | 15,263 | |||
Accumulated Depreciation | (899) | (899) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 14,364 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 15,263 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 899 | ||||
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 | 5,981 | ||||
Total Cost | |||||
Land | 1,901 | ||||
Building & Improvements | 10,511 | ||||
Total | 12,412 | 12,412 | |||
Accumulated Depreciation | (7,233) | (7,233) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 5,179 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 12,412 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 7,233 | ||||
Mockingbird Commons [Member] | |||||
Initial Cost | |||||
Land | 3,000 | ||||
Building & Improvements | 10,728 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 2,516 | ||||
Total Cost | |||||
Land | 3,000 | ||||
Building & Improvements | 13,244 | ||||
Total | 16,244 | 16,244 | |||
Accumulated Depreciation | (6,964) | (6,964) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 9,280 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 16,244 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 6,964 | ||||
Monument Jackson Creek [Member] | |||||
Initial Cost | |||||
Land | 2,999 | ||||
Building & Improvements | 6,765 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 878 | ||||
Total Cost | |||||
Land | 2,999 | ||||
Building & Improvements | 7,643 | ||||
Total | 10,642 | 10,642 | |||
Accumulated Depreciation | (5,760) | (5,760) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 4,882 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 10,642 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 5,760 | ||||
Morningside Plaza [Member] | |||||
Initial Cost | |||||
Land | 4,300 | ||||
Building & Improvements | 13,951 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 956 | ||||
Total Cost | |||||
Land | 4,300 | ||||
Building & Improvements | 14,907 | ||||
Total | 19,207 | 19,207 | |||
Accumulated Depreciation | (8,224) | (8,224) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 10,983 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 19,207 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 8,224 | ||||
Murrayhill Marketplace [Member] | |||||
Initial Cost | |||||
Land | 2,670 | ||||
Building & Improvements | 18,401 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 14,021 | ||||
Total Cost | |||||
Land | 2,903 | ||||
Building & Improvements | 32,189 | ||||
Total | 35,092 | 35,092 | |||
Accumulated Depreciation | (14,326) | (14,326) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 20,766 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 35,092 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 14,326 | ||||
Naples Walk [Member] | |||||
Initial Cost | |||||
Land | 18,173 | ||||
Building & Improvements | 13,554 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,567 | ||||
Total Cost | |||||
Land | 18,173 | ||||
Building & Improvements | 15,121 | ||||
Total | 33,294 | 33,294 | |||
Accumulated Depreciation | (6,677) | (6,677) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 26,617 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 33,294 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 6,677 | ||||
Newberry Square [Member] | |||||
Initial Cost | |||||
Land | 2,412 | ||||
Building & Improvements | 10,150 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,147 | ||||
Total Cost | |||||
Land | 2,412 | ||||
Building & Improvements | 11,297 | ||||
Total | 13,709 | 13,709 | |||
Accumulated Depreciation | (8,668) | (8,668) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 5,041 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 13,709 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 8,668 | ||||
Newland Center [Member] | |||||
Initial Cost | |||||
Land | 12,500 | ||||
Building & Improvements | 10,697 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 8,449 | ||||
Total Cost | |||||
Land | 16,276 | ||||
Building & Improvements | 15,370 | ||||
Total | 31,646 | 31,646 | |||
Accumulated Depreciation | (8,745) | (8,745) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 22,901 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 31,646 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 8,745 | ||||
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 | 7,893 | ||||
Total Cost | |||||
Land | 10,606 | ||||
Building & Improvements | 16,102 | ||||
Total | 26,708 | 26,708 | |||
Accumulated Depreciation | (6,426) | (6,426) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 20,282 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 26,708 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 6,426 | ||||
North Hills [Member] | |||||
Initial Cost | |||||
Land | 4,900 | ||||
Building & Improvements | 19,774 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,385 | ||||
Total Cost | |||||
Land | 4,900 | ||||
Building & Improvements | 21,159 | ||||
Total | 26,059 | 26,059 | |||
Accumulated Depreciation | (11,676) | (11,676) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 14,383 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 26,059 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 11,676 | ||||
Northgate Marketplace [Member] | |||||
Initial Cost | |||||
Land | 5,668 | ||||
Building & Improvements | 13,727 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (50) | ||||
Total Cost | |||||
Land | 4,995 | ||||
Building & Improvements | 14,350 | ||||
Total | 19,345 | 19,345 | |||
Accumulated Depreciation | (5,580) | (5,580) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 13,765 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 19,345 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 5,580 | ||||
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 | $ (82) | ||||
Total Cost | |||||
Land | 12,189 | ||||
Building & Improvements | 30,089 | ||||
Total | 42,278 | 42,278 | |||
Accumulated Depreciation | (4,592) | (4,592) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 37,686 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 42,278 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 4,592 | ||||
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 | 4,961 | ||||
Total Cost | |||||
Land | 2,840 | ||||
Building & Improvements | 10,542 | ||||
Total | 13,382 | 13,382 | |||
Accumulated Depreciation | (5,265) | (5,265) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 8,117 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 13,382 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 5,265 | ||||
Northgate Square [Member] | |||||
Initial Cost | |||||
Land | 5,011 | ||||
Building & Improvements | 8,692 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,145 | ||||
Total Cost | |||||
Land | 5,011 | ||||
Building & Improvements | 9,837 | ||||
Total | 14,848 | 14,848 | |||
Accumulated Depreciation | (4,446) | (4,446) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 10,402 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 14,848 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 4,446 | ||||
Northlake Village [Member] | |||||
Initial Cost | |||||
Land | 2,662 | ||||
Building & Improvements | 11,284 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 2,087 | ||||
Total Cost | |||||
Land | 2,686 | ||||
Building & Improvements | 13,347 | ||||
Total | 16,033 | 16,033 | |||
Accumulated Depreciation | (7,111) | (7,111) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 8,922 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 16,033 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 7,111 | ||||
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 | 673 | ||||
Total Cost | |||||
Land | 6,591 | ||||
Building & Improvements | 29,639 | ||||
Total | 36,230 | 36,230 | |||
Accumulated Depreciation | (9,146) | (9,146) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 27,084 | ||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (6,954) | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 36,230 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 9,146 | ||||
Oakbrook Plaza [Member] | |||||
Initial Cost | |||||
Land | 4,000 | ||||
Building & Improvements | 6,668 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 5,769 | ||||
Total Cost | |||||
Land | 4,766 | ||||
Building & Improvements | 11,671 | ||||
Total | 16,437 | 16,437 | |||
Accumulated Depreciation | (4,733) | (4,733) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 11,704 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 16,437 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 4,733 | ||||
Oakleaf Commons [Member] | |||||
Initial Cost | |||||
Land | 3,503 | ||||
Building & Improvements | 11,671 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 415 | ||||
Total Cost | |||||
Land | 3,190 | ||||
Building & Improvements | 12,399 | ||||
Total | 15,589 | 15,589 | |||
Accumulated Depreciation | (6,417) | (6,417) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 9,172 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 15,589 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 6,417 | ||||
Ocala Corners [Member] | |||||
Initial Cost | |||||
Land | 1,816 | ||||
Building & Improvements | 10,515 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 522 | ||||
Total Cost | |||||
Land | 1,816 | ||||
Building & Improvements | 11,037 | ||||
Total | 12,853 | 12,853 | |||
Accumulated Depreciation | (4,276) | (4,276) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 8,577 | ||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (3,891) | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 12,853 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 4,276 | ||||
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 | 8,211 | ||||
Total Cost | |||||
Land | 3,178 | ||||
Building & Improvements | 18,806 | ||||
Total | 21,984 | 21,984 | |||
Accumulated Depreciation | (7,954) | (7,954) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 14,030 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 21,984 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 7,954 | ||||
Pablo Plaza [Member] | |||||
Initial Cost | |||||
Land | 11,894 | ||||
Building & Improvements | 21,407 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (815) | ||||
Total Cost | |||||
Land | 11,937 | ||||
Building & Improvements | 20,549 | ||||
Total | 32,486 | 32,486 | |||
Accumulated Depreciation | (2,413) | (2,413) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 30,073 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 32,486 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 2,413 | ||||
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 | 15,438 | ||||
Total Cost | |||||
Land | 8,342 | ||||
Building & Improvements | 22,547 | ||||
Total | 30,889 | 30,889 | |||
Accumulated Depreciation | (9,745) | (9,745) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 21,144 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 30,889 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 9,745 | ||||
Panther Creek [Member] | |||||
Initial Cost | |||||
Land | 14,414 | ||||
Building & Improvements | 14,748 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 5,667 | ||||
Total Cost | |||||
Land | 15,212 | ||||
Building & Improvements | 19,617 | ||||
Total | 34,829 | 34,829 | |||
Accumulated Depreciation | (13,453) | (13,453) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 21,376 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 34,829 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 13,453 | ||||
Pavillion [Member] | |||||
Initial Cost | |||||
Land | 15,626 | ||||
Building & Improvements | 22,124 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 770 | ||||
Total Cost | |||||
Land | 15,626 | ||||
Building & Improvements | 22,894 | ||||
Total | 38,520 | 38,520 | |||
Accumulated Depreciation | (2,913) | (2,913) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 35,607 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 38,520 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 2,913 | ||||
Peartree Village [Member] | |||||
Initial Cost | |||||
Land | 5,197 | ||||
Building & Improvements | 19,746 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 878 | ||||
Total Cost | |||||
Land | 5,197 | ||||
Building & Improvements | 20,624 | ||||
Total | 25,821 | 25,821 | |||
Accumulated Depreciation | (12,904) | (12,904) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 12,917 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 25,821 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 12,904 | ||||
Persimmon Place [Member] | |||||
Initial Cost | |||||
Land | 25,975 | ||||
Building & Improvements | 38,114 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 187 | ||||
Total Cost | |||||
Land | 26,692 | ||||
Building & Improvements | 37,584 | ||||
Total | 64,276 | 64,276 | |||
Accumulated Depreciation | (9,660) | (9,660) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 54,616 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 64,276 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 9,660 | ||||
Piedmont Peachtree Crossing [Member] | |||||
Initial Cost | |||||
Land | 45,502 | ||||
Building & Improvements | 16,642 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 165 | ||||
Total Cost | |||||
Land | 45,502 | ||||
Building & Improvements | 16,807 | ||||
Total | 62,309 | 62,309 | |||
Accumulated Depreciation | (2,210) | (2,210) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 60,099 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 62,309 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 2,210 | ||||
Pike Creek [Member] | |||||
Initial Cost | |||||
Land | 5,153 | ||||
Building & Improvements | 20,652 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 2,598 | ||||
Total Cost | |||||
Land | 5,251 | ||||
Building & Improvements | 23,152 | ||||
Total | 28,403 | 28,403 | |||
Accumulated Depreciation | (13,178) | (13,178) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 15,225 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 28,403 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 13,178 | ||||
Pine Island [Member] | |||||
Initial Cost | |||||
Land | 21,086 | ||||
Building & Improvements | 28,123 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 2,869 | ||||
Total Cost | |||||
Land | 21,086 | ||||
Building & Improvements | 30,992 | ||||
Total | 52,078 | 52,078 | |||
Accumulated Depreciation | (4,327) | (4,327) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 47,751 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 52,078 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 4,327 | ||||
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 | 1,510 | ||||
Total Cost | |||||
Land | 6,300 | ||||
Building & Improvements | 12,501 | ||||
Total | 18,801 | 18,801 | |||
Accumulated Depreciation | (6,831) | (6,831) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 11,970 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 18,801 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 6,831 | ||||
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 | 287 | ||||
Total Cost | |||||
Land | 13,951 | ||||
Building & Improvements | 23,434 | ||||
Total | 37,385 | 37,385 | |||
Accumulated Depreciation | (2,692) | (2,692) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 34,693 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 37,385 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 2,692 | ||||
Pine Tree Plaza [Member] | |||||
Initial Cost | |||||
Land | 668 | ||||
Building & Improvements | 6,220 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 686 | ||||
Total Cost | |||||
Land | 668 | ||||
Building & Improvements | 6,906 | ||||
Total | 7,574 | 7,574 | |||
Accumulated Depreciation | (3,888) | (3,888) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 3,686 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 7,574 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 3,888 | ||||
Pinecrest Place [Member] | |||||
Initial Cost | |||||
Land | 3,792 | ||||
Building & Improvements | 13,496 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (201) | ||||
Total Cost | |||||
Land | 3,591 | ||||
Building & Improvements | 13,496 | ||||
Total | 17,087 | 17,087 | |||
Accumulated Depreciation | (1,032) | (1,032) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 16,055 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 17,087 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 1,032 | ||||
Plaza Escuela [Member] | |||||
Initial Cost | |||||
Land | 24,829 | ||||
Building & Improvements | 104,395 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,657 | ||||
Total Cost | |||||
Land | 24,829 | ||||
Building & Improvements | 106,052 | ||||
Total | 130,881 | 130,881 | |||
Accumulated Depreciation | (8,560) | (8,560) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 122,321 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 130,881 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 8,560 | ||||
Plaza Hermosa [Member] | |||||
Initial Cost | |||||
Land | 4,200 | ||||
Building & Improvements | 10,109 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 3,472 | ||||
Total Cost | |||||
Land | 4,202 | ||||
Building & Improvements | 13,579 | ||||
Total | 17,781 | 17,781 | |||
Accumulated Depreciation | (7,045) | (7,045) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 10,736 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 17,781 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 7,045 | ||||
Pleasanton Plaza [Member] | |||||
Initial Cost | |||||
Land | 21,839 | ||||
Building & Improvements | 24,743 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (17,196) | ||||
Total Cost | |||||
Land | 14,440 | ||||
Building & Improvements | 14,946 | ||||
Total | 29,386 | 29,386 | |||
Accumulated Depreciation | (1,502) | (1,502) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 27,884 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 29,386 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 1,502 | ||||
Point 50 [Member] | |||||
Initial Cost | |||||
Land | 15,239 | ||||
Building & Improvements | 11,367 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (16,447) | ||||
Total Cost | |||||
Land | 10,159 | ||||
Total | 10,159 | 10,159 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 10,159 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 10,159 | ||||
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 | 6,435 | ||||
Total Cost | |||||
Land | 19,383 | ||||
Building & Improvements | 20,142 | ||||
Total | 39,525 | 39,525 | |||
Accumulated Depreciation | (2,975) | (2,975) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 36,550 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 39,525 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 2,975 | ||||
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 | 153 | ||||
Total Cost | |||||
Land | 15,240 | ||||
Building & Improvements | 5,349 | ||||
Total | 20,589 | 20,589 | |||
Accumulated Depreciation | (579) | (579) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 20,010 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 20,589 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 579 | ||||
Potrero Center [Member] | |||||
Initial Cost | |||||
Land | 133,422 | ||||
Building & Improvements | 116,758 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 84 | ||||
Total Cost | |||||
Land | 133,422 | ||||
Building & Improvements | 116,842 | ||||
Total | 250,264 | 250,264 | |||
Accumulated Depreciation | (9,593) | (9,593) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 240,671 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 250,264 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 9,593 | ||||
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 | 1,921 | ||||
Total Cost | |||||
Land | 8,248 | ||||
Building & Improvements | 32,637 | ||||
Total | 40,885 | 40,885 | |||
Accumulated Depreciation | (15,895) | (15,895) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 24,990 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 40,885 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 15,895 | ||||
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 | 9,441 | ||||
Total Cost | |||||
Land | 5,758 | ||||
Building & Improvements | 25,335 | ||||
Total | 31,093 | 31,093 | |||
Accumulated Depreciation | (17,050) | (17,050) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 14,043 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 31,093 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 17,050 | ||||
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 | 721 | ||||
Total Cost | |||||
Land | 1,191 | ||||
Building & Improvements | 5,393 | ||||
Total | 6,584 | 6,584 | |||
Accumulated Depreciation | (3,995) | (3,995) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 2,589 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 6,584 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 3,995 | ||||
Preston Oaks [Member] | |||||
Initial Cost | |||||
Land | 763 | ||||
Building & Improvements | 30,438 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (19,379) | ||||
Total Cost | |||||
Land | 569 | ||||
Building & Improvements | 11,253 | ||||
Total | 11,822 | 11,822 | |||
Accumulated Depreciation | (2,427) | (2,427) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 9,395 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 11,822 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 2,427 | ||||
Prestonbrook [Member] | |||||
Initial Cost | |||||
Land | 7,069 | ||||
Building & Improvements | 8,622 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,161 | ||||
Total Cost | |||||
Land | 7,069 | ||||
Building & Improvements | 9,783 | ||||
Total | 16,852 | 16,852 | |||
Accumulated Depreciation | (6,999) | (6,999) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 9,853 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 16,852 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 6,999 | ||||
Prosperity Centre [Member] | |||||
Initial Cost | |||||
Land | 11,682 | ||||
Building & Improvements | 26,215 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 21 | ||||
Total Cost | |||||
Land | 11,681 | ||||
Building & Improvements | 26,237 | ||||
Total | 37,918 | 37,918 | |||
Accumulated Depreciation | (2,934) | (2,934) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 34,984 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 37,918 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 2,934 | ||||
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 | 98 | ||||
Total Cost | |||||
Land | 20,939 | ||||
Building & Improvements | 6,415 | ||||
Total | 27,354 | 27,354 | |||
Accumulated Depreciation | (856) | (856) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 26,498 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 27,354 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 856 | ||||
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 | 1,966 | ||||
Total Cost | |||||
Land | 10,514 | ||||
Building & Improvements | 11,288 | ||||
Total | 21,802 | 21,802 | |||
Accumulated Depreciation | (3,366) | (3,366) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 18,436 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 21,802 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 3,366 | ||||
Regency Commons [Member] | |||||
Initial Cost | |||||
Land | 3,917 | ||||
Building & Improvements | 3,616 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 291 | ||||
Total Cost | |||||
Land | 3,917 | ||||
Building & Improvements | 3,907 | ||||
Total | 7,824 | 7,824 | |||
Accumulated Depreciation | (2,568) | (2,568) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 5,256 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 7,824 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 2,568 | ||||
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 | 36,964 | |||
Accumulated Depreciation | (24,565) | (24,565) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 12,399 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 36,964 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 24,565 | ||||
Rivertowns Square [Member] | |||||
Initial Cost | |||||
Land | 15,505 | ||||
Building & Improvements | 52,505 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,308 | ||||
Total Cost | |||||
Land | 15,786 | ||||
Building & Improvements | 53,532 | ||||
Total | 69,318 | 69,318 | |||
Accumulated Depreciation | (2,759) | (2,759) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 66,559 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 69,318 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 2,759 | ||||
Rona Plaza [Member] | |||||
Initial Cost | |||||
Land | 1,500 | ||||
Building & Improvements | 4,917 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 287 | ||||
Total Cost | |||||
Land | 1,500 | ||||
Building & Improvements | 5,204 | ||||
Total | 6,704 | 6,704 | |||
Accumulated Depreciation | (3,116) | (3,116) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 3,588 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 6,704 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 3,116 | ||||
Roosevelt Square [Member] | |||||
Initial Cost | |||||
Land | 40,371 | ||||
Building & Improvements | 32,108 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 2,012 | ||||
Total Cost | |||||
Land | 40,382 | ||||
Building & Improvements | 34,109 | ||||
Total | 74,491 | 74,491 | |||
Accumulated Depreciation | (2,118) | (2,118) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 72,373 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 74,491 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 2,118 | ||||
Russell Ridge [Member] | |||||
Initial Cost | |||||
Land | 2,234 | ||||
Building & Improvements | 6,903 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,442 | ||||
Total Cost | |||||
Land | 2,234 | ||||
Building & Improvements | 8,345 | ||||
Total | 10,579 | 10,579 | |||
Accumulated Depreciation | (5,402) | (5,402) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 5,177 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 10,579 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 5,402 | ||||
Ryanwood Square [Member] | |||||
Initial Cost | |||||
Land | 10,581 | ||||
Building & Improvements | 10,044 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 101 | ||||
Total Cost | |||||
Land | 10,573 | ||||
Building & Improvements | 10,153 | ||||
Total | 20,726 | 20,726 | |||
Accumulated Depreciation | (1,509) | (1,509) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 19,217 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 20,726 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 1,509 | ||||
Salerno Village [Member] | |||||
Initial Cost | |||||
Land | 1,355 | ||||
Total Cost | |||||
Land | 1,355 | ||||
Total | 1,355 | 1,355 | |||
Accumulated Depreciation | (14) | (14) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 1,341 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 1,355 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 14 | ||||
Sammamish Highlands [Member] | |||||
Initial Cost | |||||
Land | 9,300 | ||||
Building & Improvements | 8,075 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 8,477 | ||||
Total Cost | |||||
Land | 9,592 | ||||
Building & Improvements | 16,260 | ||||
Total | 25,852 | 25,852 | |||
Accumulated Depreciation | (9,231) | (9,231) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 16,621 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 25,852 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 9,231 | ||||
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 | 320 | ||||
Total Cost | |||||
Land | 36,006 | ||||
Building & Improvements | 58,206 | ||||
Total | 94,212 | 94,212 | |||
Accumulated Depreciation | (4,843) | (4,843) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 89,369 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 94,212 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 4,843 | ||||
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 | 632 | ||||
Total Cost | |||||
Land | 1,300 | ||||
Building & Improvements | 8,858 | ||||
Total | 10,158 | 10,158 | |||
Accumulated Depreciation | (4,855) | (4,855) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 5,303 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 10,158 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 4,855 | ||||
Sandy Springs [Member] | |||||
Initial Cost | |||||
Land | 6,889 | ||||
Building & Improvements | 28,056 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 3,430 | ||||
Total Cost | |||||
Land | 6,889 | ||||
Building & Improvements | 31,486 | ||||
Total | 38,375 | 38,375 | |||
Accumulated Depreciation | (7,745) | (7,745) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 30,630 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 38,375 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 7,745 | ||||
Sawgrass Promenade [Member] | |||||
Initial Cost | |||||
Land | 10,846 | ||||
Building & Improvements | 12,525 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 214 | ||||
Total Cost | |||||
Land | 10,846 | ||||
Building & Improvements | 12,739 | ||||
Total | 23,585 | 23,585 | |||
Accumulated Depreciation | (1,654) | (1,654) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 21,931 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 23,585 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 1,654 | ||||
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 | 503 | ||||
Total Cost | |||||
Land | 59,949 | ||||
Building & Improvements | 26,837 | ||||
Total | 86,786 | 86,786 | |||
Accumulated Depreciation | (2,004) | (2,004) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 84,782 | ||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (27,000) | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 86,786 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 2,004 | ||||
Sequoia Station [Member] | |||||
Initial Cost | |||||
Land | 9,100 | ||||
Building & Improvements | 18,356 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 2,000 | ||||
Total Cost | |||||
Land | 9,100 | ||||
Building & Improvements | 20,356 | ||||
Total | 29,456 | 29,456 | |||
Accumulated Depreciation | (11,081) | (11,081) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 18,375 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 29,456 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 11,081 | ||||
Serramonte Center [Member] | |||||
Initial Cost | |||||
Land | 390,106 | ||||
Building & Improvements | 172,652 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 53,895 | ||||
Total Cost | |||||
Land | 409,839 | ||||
Building & Improvements | 206,814 | ||||
Total | 616,653 | 616,653 | |||
Accumulated Depreciation | (30,646) | (30,646) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 586,007 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 616,653 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 30,646 | ||||
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 | 12,335 | |||
Accumulated Depreciation | (1,029) | (1,029) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 11,306 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 12,335 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 1,029 | ||||
Sheridan Plaza [Member] | |||||
Initial Cost | |||||
Land | 82,260 | ||||
Building & Improvements | 97,273 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (579) | ||||
Total Cost | |||||
Land | 82,260 | ||||
Building & Improvements | 96,694 | ||||
Total | 178,954 | 178,954 | |||
Accumulated Depreciation | (10,019) | (10,019) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 168,935 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 178,954 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 10,019 | ||||
Sherwood Crossroads [Member] | |||||
Initial Cost | |||||
Land | 2,731 | ||||
Building & Improvements | 6,360 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,183 | ||||
Total Cost | |||||
Land | 2,731 | ||||
Building & Improvements | 7,543 | ||||
Total | 10,274 | 10,274 | |||
Accumulated Depreciation | (3,473) | (3,473) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 6,801 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 10,274 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 3,473 | ||||
Shoppes @ 104 [Member] | |||||
Initial Cost | |||||
Land | 11,193 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 2,382 | ||||
Total Cost | |||||
Land | 7,078 | ||||
Building & Improvements | 6,497 | ||||
Total | 13,575 | 13,575 | |||
Accumulated Depreciation | (2,792) | (2,792) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 10,783 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 13,575 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 2,792 | ||||
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 | 2,181 | ||||
Total Cost | |||||
Land | 5,420 | ||||
Building & Improvements | 11,631 | ||||
Total | 17,051 | 17,051 | |||
Accumulated Depreciation | (6,271) | (6,271) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 10,780 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 17,051 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 6,271 | ||||
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 | (52) | ||||
Total Cost | |||||
Land | 8,323 | ||||
Building & Improvements | 11,295 | ||||
Total | 19,618 | 19,618 | |||
Accumulated Depreciation | (1,498) | (1,498) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 18,120 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 19,618 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 1,498 | ||||
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 | 339 | ||||
Total Cost | |||||
Land | 16,643 | ||||
Building & Improvements | 15,430 | ||||
Total | 32,073 | 32,073 | |||
Accumulated Depreciation | (2,299) | (2,299) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 29,774 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 32,073 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 2,299 | ||||
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 | 561 | ||||
Total Cost | |||||
Land | 5,091 | ||||
Building & Improvements | 6,546 | ||||
Total | 11,637 | 11,637 | |||
Accumulated Depreciation | (5,286) | (5,286) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 6,351 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 11,637 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 5,286 | ||||
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 | 260 | ||||
Total Cost | |||||
Land | 4,474 | ||||
Building & Improvements | 5,888 | ||||
Total | 10,362 | 10,362 | |||
Accumulated Depreciation | (699) | (699) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 9,663 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 10,362 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 699 | ||||
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 | 440 | ||||
Total Cost | |||||
Land | 20,538 | ||||
Building & Improvements | 43,432 | ||||
Total | 63,970 | 63,970 | |||
Accumulated Depreciation | (4,558) | (4,558) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 59,412 | ||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (3,670) | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 63,970 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 4,558 | ||||
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 | 56 | ||||
Total Cost | |||||
Land | 17,529 | ||||
Building & Improvements | 21,885 | ||||
Total | 39,414 | 39,414 | |||
Accumulated Depreciation | (2,755) | (2,755) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 36,659 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 39,414 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 2,755 | ||||
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 | (12) | ||||
Total Cost | |||||
Land | 2,860 | ||||
Building & Improvements | 1,304 | ||||
Total | 4,164 | 4,164 | |||
Accumulated Depreciation | (210) | (210) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 3,954 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 4,164 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 210 | ||||
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 | 5 | ||||
Total Cost | |||||
Land | 2,834 | ||||
Building & Improvements | 720 | ||||
Total | 3,554 | 3,554 | |||
Accumulated Depreciation | (176) | (176) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 3,378 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 3,554 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 176 | ||||
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 | 978 | ||||
Total Cost | |||||
Land | 10,254 | ||||
Building & Improvements | 11,977 | ||||
Total | 22,231 | 22,231 | |||
Accumulated Depreciation | (9,511) | (9,511) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 12,720 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 22,231 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 9,511 | ||||
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 | 245 | ||||
Total Cost | |||||
Land | 9,082 | ||||
Building & Improvements | 6,369 | ||||
Total | 15,451 | 15,451 | |||
Accumulated Depreciation | (2,660) | (2,660) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 12,791 | ||||
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 | 15,451 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 2,660 | ||||
Shops at Johns Creek [Member] | |||||
Initial Cost | |||||
Land | 1,863 | ||||
Building & Improvements | 2,014 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (313) | ||||
Total Cost | |||||
Land | 1,501 | ||||
Building & Improvements | 2,063 | ||||
Total | 3,564 | 3,564 | |||
Accumulated Depreciation | (1,399) | (1,399) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 2,165 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 3,564 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 1,399 | ||||
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 | 177 | ||||
Total Cost | |||||
Land | 11,691 | ||||
Building & Improvements | 9,203 | ||||
Total | 20,894 | 20,894 | |||
Accumulated Depreciation | (2,133) | (2,133) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 18,761 | ||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (215) | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 20,894 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 2,133 | ||||
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 | 629 | ||||
Total Cost | |||||
Land | 1,448 | ||||
Building & Improvements | 8,385 | ||||
Total | 9,833 | 9,833 | |||
Accumulated Depreciation | (3,766) | (3,766) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 6,067 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 9,833 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 3,766 | ||||
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 | (9) | ||||
Total Cost | |||||
Land | 18,811 | ||||
Building & Improvements | 18,365 | ||||
Total | 37,176 | 37,176 | |||
Accumulated Depreciation | (10,191) | (10,191) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 26,985 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 37,176 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 10,191 | ||||
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 | 1,793 | ||||
Total Cost | |||||
Land | 85,117 | ||||
Building & Improvements | 40,604 | ||||
Total | 125,721 | 125,721 | |||
Accumulated Depreciation | (5,422) | (5,422) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 120,299 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 125,721 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 5,422 | ||||
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 | 10,659 | ||||
Total Cost | |||||
Land | 18,527 | ||||
Building & Improvements | 36,207 | ||||
Total | 54,734 | 54,734 | |||
Accumulated Depreciation | (9,935) | (9,935) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 44,799 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 54,734 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 9,935 | ||||
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 | 3,093 | ||||
Total Cost | |||||
Land | 3,332 | ||||
Building & Improvements | 14,747 | ||||
Total | 18,079 | 18,079 | |||
Accumulated Depreciation | (8,714) | (8,714) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 9,365 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 18,079 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 8,714 | ||||
South Bay Village [Member] | |||||
Initial Cost | |||||
Land | 11,714 | ||||
Building & Improvements | 15,580 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,741 | ||||
Total Cost | |||||
Land | 11,776 | ||||
Building & Improvements | 17,259 | ||||
Total | 29,035 | 29,035 | |||
Accumulated Depreciation | (4,570) | (4,570) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 24,465 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 29,035 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 4,570 | ||||
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 | 862 | ||||
Total Cost | |||||
Land | 28,188 | ||||
Building & Improvements | 54,267 | ||||
Total | 82,455 | 82,455 | |||
Accumulated Depreciation | (6,567) | (6,567) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 75,888 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 82,455 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 6,567 | ||||
South Point [Member] | |||||
Initial Cost | |||||
Land | 6,563 | ||||
Building & Improvements | 7,939 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 25 | ||||
Total Cost | |||||
Land | 6,563 | ||||
Building & Improvements | 7,964 | ||||
Total | 14,527 | 14,527 | |||
Accumulated Depreciation | (1,038) | (1,038) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 13,489 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 14,527 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 1,038 | ||||
Southbury Green [Member] | |||||
Initial Cost | |||||
Land | 26,661 | ||||
Building & Improvements | 34,325 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,900 | ||||
Total Cost | |||||
Land | 26,686 | ||||
Building & Improvements | 36,200 | ||||
Total | 62,886 | 62,886 | |||
Accumulated Depreciation | (3,807) | (3,807) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 59,079 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 62,886 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 3,807 | ||||
Southcenter [Member] | |||||
Initial Cost | |||||
Land | 1,300 | ||||
Building & Improvements | 12,750 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 2,087 | ||||
Total Cost | |||||
Land | 1,300 | ||||
Building & Improvements | 14,837 | ||||
Total | 16,137 | 16,137 | |||
Accumulated Depreciation | (8,065) | (8,065) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 8,072 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 16,137 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 8,065 | ||||
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 | 7,426 | ||||
Total Cost | |||||
Land | 21,438 | ||||
Building & Improvements | 15,689 | ||||
Total | 37,127 | 37,127 | |||
Accumulated Depreciation | (6,426) | (6,426) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 30,701 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 37,127 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 6,426 | ||||
SouthPoint Crossing [Member] | |||||
Initial Cost | |||||
Land | 4,412 | ||||
Building & Improvements | 12,235 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,186 | ||||
Total Cost | |||||
Land | 4,382 | ||||
Building & Improvements | 13,451 | ||||
Total | 17,833 | 17,833 | |||
Accumulated Depreciation | (7,217) | (7,217) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 10,616 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 17,833 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 7,217 | ||||
Starke [Member] | |||||
Initial Cost | |||||
Land | 71 | ||||
Building & Improvements | 1,683 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 9 | ||||
Total Cost | |||||
Land | 71 | ||||
Building & Improvements | 1,692 | ||||
Total | 1,763 | 1,763 | |||
Accumulated Depreciation | (814) | (814) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 949 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 1,763 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 814 | ||||
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 | 44,601 | |||
Accumulated Depreciation | (1,421) | (1,421) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 43,180 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 44,601 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 1,421 | ||||
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 | 36,429 | |||
Accumulated Depreciation | (1,562) | (1,562) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 34,867 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 36,429 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 1,562 | ||||
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 | (8) | ||||
Total Cost | |||||
Land | 21,973 | ||||
Building & Improvements | 13,378 | ||||
Total | 35,351 | 35,351 | |||
Accumulated Depreciation | (1,433) | (1,433) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 33,918 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 35,351 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 1,433 | ||||
Sterling Ridge [Member] | |||||
Initial Cost | |||||
Land | 12,846 | ||||
Building & Improvements | 12,162 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 783 | ||||
Total Cost | |||||
Land | 12,846 | ||||
Building & Improvements | 12,945 | ||||
Total | 25,791 | 25,791 | |||
Accumulated Depreciation | (9,911) | (9,911) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 15,880 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 25,791 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 9,911 | ||||
Stroh Ranch [Member] | |||||
Initial Cost | |||||
Land | 4,280 | ||||
Building & Improvements | 8,189 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 661 | ||||
Total Cost | |||||
Land | 4,280 | ||||
Building & Improvements | 8,850 | ||||
Total | 13,130 | 13,130 | |||
Accumulated Depreciation | (6,529) | (6,529) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 6,601 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 13,130 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 6,529 | ||||
Suncoast Crossing [Member] | |||||
Initial Cost | |||||
Land | 9,030 | ||||
Building & Improvements | 10,764 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 4,587 | ||||
Total Cost | |||||
Land | 13,374 | ||||
Building & Improvements | 11,007 | ||||
Total | 24,381 | 24,381 | |||
Accumulated Depreciation | (7,040) | (7,040) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 17,341 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 24,381 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 7,040 | ||||
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 | 67 | ||||
Total Cost | |||||
Land | 22,415 | ||||
Building & Improvements | 12,121 | ||||
Total | 34,536 | 34,536 | |||
Accumulated Depreciation | (1,391) | (1,391) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 33,145 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 34,536 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 1,391 | ||||
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 | 373 | ||||
Total Cost | |||||
Land | 12,584 | ||||
Building & Improvements | 9,594 | ||||
Total | 22,178 | 22,178 | |||
Accumulated Depreciation | (1,403) | (1,403) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 20,775 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 22,178 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 1,403 | ||||
Tanasbourne Market [Member] | |||||
Initial Cost | |||||
Land | 3,269 | ||||
Building & Improvements | 10,861 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (340) | ||||
Total Cost | |||||
Land | 3,149 | ||||
Building & Improvements | 10,641 | ||||
Total | 13,790 | 13,790 | |||
Accumulated Depreciation | (5,409) | (5,409) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 8,381 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 13,790 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 5,409 | ||||
Tassajara Crossing [Member] | |||||
Initial Cost | |||||
Land | 8,560 | ||||
Building & Improvements | 15,464 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,907 | ||||
Total Cost | |||||
Land | 8,560 | ||||
Building & Improvements | 17,371 | ||||
Total | 25,931 | 25,931 | |||
Accumulated Depreciation | (9,081) | (9,081) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 16,850 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 25,931 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 9,081 | ||||
Tech Ridge [Member] | |||||
Initial Cost | |||||
Land | 12,945 | ||||
Building & Improvements | 37,169 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (4,340) | ||||
Total Cost | |||||
Land | 12,945 | ||||
Building & Improvements | 32,829 | ||||
Total | 45,774 | 45,774 | |||
Accumulated Depreciation | (12,072) | (12,072) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 33,702 | ||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (4,554) | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 45,774 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 12,072 | ||||
The Abbot [Member] | |||||
Initial Cost | |||||
Land | 72,910 | ||||
Building & Improvements | 6,086 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (5,444) | ||||
Total Cost | |||||
Land | 72,910 | ||||
Building & Improvements | 642 | ||||
Total | 73,552 | 73,552 | |||
Accumulated Depreciation | (63) | (63) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 73,489 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 73,552 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 63 | ||||
The Field at Commonwealth [Member] | |||||
Initial Cost | |||||
Land | 30,700 | ||||
Building & Improvements | 16,890 | ||||
Total Cost | |||||
Land | 30,700 | ||||
Building & Improvements | 16,890 | ||||
Total | 47,590 | 47,590 | |||
Accumulated Depreciation | (2,318) | (2,318) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 45,272 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 47,590 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 2,318 | ||||
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 | 2,581 | ||||
Total Cost | |||||
Land | 108,653 | ||||
Building & Improvements | 219,352 | ||||
Total | 328,005 | 328,005 | |||
Accumulated Depreciation | (19,898) | (19,898) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 308,107 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 328,005 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 19,898 | ||||
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 | 5,347 | ||||
Total Cost | |||||
Land | 19,611 | ||||
Building & Improvements | 66,415 | ||||
Total | 86,026 | 86,026 | |||
Accumulated Depreciation | (14,462) | (14,462) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 71,564 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 86,026 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 14,462 | ||||
The Marketplace (fka The Marketplace Shopping Center) [Member] | |||||
Initial Cost | |||||
Land | 10,927 | ||||
Building & Improvements | 36,052 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 336 | ||||
Total Cost | |||||
Land | 10,927 | ||||
Building & Improvements | 36,388 | ||||
Total | 47,315 | 47,315 | |||
Accumulated Depreciation | (3,639) | (3,639) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 43,676 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 47,315 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 3,639 | ||||
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 | (1) | ||||
Total Cost | |||||
Land | 1,718 | ||||
Building & Improvements | 6,203 | ||||
Total | 7,921 | 7,921 | |||
Accumulated Depreciation | (660) | (660) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 7,261 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 7,921 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 660 | ||||
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 | 5,855 | ||||
Total Cost | |||||
Land | 2,559 | ||||
Building & Improvements | 13,801 | ||||
Total | 16,360 | 16,360 | |||
Accumulated Depreciation | (2,193) | (2,193) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 14,167 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 16,360 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 2,193 | ||||
The Pruneyard [Member] | |||||
Initial Cost | |||||
Land | 112,136 | ||||
Building & Improvements | 86,916 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 56 | ||||
Total Cost | |||||
Land | 112,136 | ||||
Building & Improvements | 86,972 | ||||
Total | 199,108 | 199,108 | |||
Accumulated Depreciation | (1,515) | (1,515) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 197,593 | ||||
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 | 199,108 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 1,515 | ||||
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 | 65 | ||||
Total Cost | |||||
Land | 843 | ||||
Building & Improvements | 437 | ||||
Total | 1,280 | 1,280 | |||
Accumulated Depreciation | (85) | (85) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 1,195 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 1,280 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 85 | ||||
The Village at Riverstone [Member] | |||||
Initial Cost | |||||
Land | 15,075 | ||||
Building & Improvements | 12,706 | ||||
Total Cost | |||||
Land | 15,075 | ||||
Building & Improvements | 12,706 | ||||
Total | 27,781 | 27,781 | |||
Accumulated Depreciation | (846) | (846) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 26,935 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 27,781 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 846 | ||||
The Village Center [Member] | |||||
Initial Cost | |||||
Land | 43,597 | ||||
Building & Improvements | 16,428 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 714 | ||||
Total Cost | |||||
Land | 44,070 | ||||
Building & Improvements | 16,669 | ||||
Total | 60,739 | 60,739 | |||
Accumulated Depreciation | (2,176) | (2,176) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 58,563 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 60,739 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 2,176 | ||||
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 | 27 | ||||
Total Cost | |||||
Land | 4,664 | ||||
Building & Improvements | 5,234 | ||||
Total | 9,898 | 9,898 | |||
Accumulated Depreciation | (977) | (977) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 8,921 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 9,898 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 977 | ||||
Town Square [Member] | |||||
Initial Cost | |||||
Land | 883 | ||||
Building & Improvements | 8,132 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 473 | ||||
Total Cost | |||||
Land | 883 | ||||
Building & Improvements | 8,605 | ||||
Total | 9,488 | 9,488 | |||
Accumulated Depreciation | (5,263) | (5,263) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 4,225 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 9,488 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 5,263 | ||||
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 | 626 | ||||
Total Cost | |||||
Land | 7,553 | ||||
Building & Improvements | 22,180 | ||||
Total | 29,733 | 29,733 | |||
Accumulated Depreciation | (2,513) | (2,513) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 27,220 | ||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (2,388) | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 29,733 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 2,513 | ||||
Tustin Legacy [Member] | |||||
Initial Cost | |||||
Land | 13,829 | ||||
Building & Improvements | 23,922 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (1) | ||||
Total Cost | |||||
Land | 13,828 | ||||
Building & Improvements | 23,922 | ||||
Total | 37,750 | 37,750 | |||
Accumulated Depreciation | (2,606) | (2,606) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 35,144 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 37,750 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 2,606 | ||||
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 | 2,389 | ||||
Total Cost | |||||
Land | 17,263 | ||||
Building & Improvements | 46,596 | ||||
Total | 63,859 | 63,859 | |||
Accumulated Depreciation | (17,603) | (17,603) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 46,256 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 63,859 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 17,603 | ||||
Twin Peaks [Member] | |||||
Initial Cost | |||||
Land | 5,200 | ||||
Building & Improvements | 25,827 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,893 | ||||
Total Cost | |||||
Land | 5,200 | ||||
Building & Improvements | 27,720 | ||||
Total | 32,920 | 32,920 | |||
Accumulated Depreciation | (14,853) | (14,853) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 18,067 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 32,920 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 14,853 | ||||
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 | 6,627 | ||||
Total Cost | |||||
Land | 5,561 | ||||
Building & Improvements | 11,700 | ||||
Total | 17,261 | 17,261 | |||
Accumulated Depreciation | (1,842) | (1,842) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 15,419 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 17,261 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 1,842 | ||||
University Commons [Member] | |||||
Initial Cost | |||||
Land | 4,070 | ||||
Building & Improvements | 30,785 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 247 | ||||
Total Cost | |||||
Land | 4,070 | ||||
Building & Improvements | 31,032 | ||||
Total | 35,102 | 35,102 | |||
Accumulated Depreciation | (5,490) | (5,490) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 29,612 | ||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (35,824) | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 35,102 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 5,490 | ||||
Valencia Crossroads [Member] | |||||
Initial Cost | |||||
Land | 17,921 | ||||
Building & Improvements | 17,659 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,334 | ||||
Total Cost | |||||
Land | 17,921 | ||||
Building & Improvements | 18,993 | ||||
Total | 36,914 | 36,914 | |||
Accumulated Depreciation | (16,248) | (16,248) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 20,666 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 36,914 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 16,248 | ||||
Village at La Floresta [Member] | |||||
Initial Cost | |||||
Land | 13,140 | ||||
Building & Improvements | 20,571 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (301) | ||||
Total Cost | |||||
Land | 13,156 | ||||
Building & Improvements | 20,254 | ||||
Total | 33,410 | 33,410 | |||
Accumulated Depreciation | (4,433) | (4,433) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 28,977 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 33,410 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 4,433 | ||||
Village at Lee Air park [Member] | |||||
Initial Cost | |||||
Land | 11,099 | ||||
Building & Improvements | 12,971 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 3,355 | ||||
Total Cost | |||||
Land | 11,803 | ||||
Building & Improvements | 15,622 | ||||
Total | 27,425 | 27,425 | |||
Accumulated Depreciation | (10,153) | (10,153) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 17,272 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 27,425 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 10,153 | ||||
Village Center [Member] | |||||
Initial Cost | |||||
Land | 3,885 | ||||
Building & Improvements | 14,131 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 9,496 | ||||
Total Cost | |||||
Land | 5,480 | ||||
Building & Improvements | 22,032 | ||||
Total | 27,512 | 27,512 | |||
Accumulated Depreciation | (10,298) | (10,298) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 17,214 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 27,512 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 10,298 | ||||
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 | 674 | ||||
Total Cost | |||||
Land | 49,037 | ||||
Building & Improvements | 23,292 | ||||
Total | 72,329 | 72,329 | |||
Accumulated Depreciation | (2,583) | (2,583) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 69,746 | ||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (7,083) | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 72,329 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 2,583 | ||||
Walker Center [Member] | |||||
Initial Cost | |||||
Land | 3,840 | ||||
Building & Improvements | 7,232 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 4,189 | ||||
Total Cost | |||||
Land | 3,878 | ||||
Building & Improvements | 11,383 | ||||
Total | 15,261 | 15,261 | |||
Accumulated Depreciation | (7,278) | (7,278) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 7,983 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 15,261 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 7,278 | ||||
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 | 41,664 | |||
Accumulated Depreciation | (2,642) | (2,642) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 39,022 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 41,664 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 2,642 | ||||
Waterstone Plaza [Member] | |||||
Initial Cost | |||||
Land | 5,498 | ||||
Building & Improvements | 13,500 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 60 | ||||
Total Cost | |||||
Land | 5,498 | ||||
Building & Improvements | 13,560 | ||||
Total | 19,058 | 19,058 | |||
Accumulated Depreciation | (1,506) | (1,506) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 17,552 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 19,058 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 1,506 | ||||
Welleby Plaza [Member] | |||||
Initial Cost | |||||
Land | 1,496 | ||||
Building & Improvements | 7,787 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,572 | ||||
Total Cost | |||||
Land | 1,496 | ||||
Building & Improvements | 9,359 | ||||
Total | 10,855 | 10,855 | |||
Accumulated Depreciation | (7,827) | (7,827) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 3,028 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 10,855 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 7,827 | ||||
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 | 159 | ||||
Total Cost | |||||
Land | 2,041 | ||||
Building & Improvements | 12,290 | ||||
Total | 14,331 | 14,331 | |||
Accumulated Depreciation | (7,433) | (7,433) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 6,898 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 14,331 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 7,433 | ||||
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 | (30) | ||||
Total Cost | |||||
Land | 12,934 | ||||
Building & Improvements | 18,564 | ||||
Total | 31,498 | 31,498 | |||
Accumulated Depreciation | (7,876) | (7,876) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 23,622 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 31,498 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 7,876 | ||||
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 | 630 | ||||
Total Cost | |||||
Land | 1,857 | ||||
Building & Improvements | 8,202 | ||||
Total | 10,059 | 10,059 | |||
Accumulated Depreciation | (5,855) | (5,855) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 4,204 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 10,059 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 5,855 | ||||
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 | 157 | ||||
Total Cost | |||||
Land | 10,561 | ||||
Building & Improvements | 9,949 | ||||
Total | 20,510 | 20,510 | |||
Accumulated Depreciation | (1,532) | (1,532) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 18,978 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 20,510 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 1,532 | ||||
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 | 1,609 | ||||
Total Cost | |||||
Land | 5,840 | ||||
Building & Improvements | 7,368 | ||||
Total | 13,208 | 13,208 | |||
Accumulated Depreciation | (4,391) | (4,391) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 8,817 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 13,208 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 4,391 | ||||
Westbury Plaza [Member] | |||||
Initial Cost | |||||
Land | 116,129 | ||||
Building & Improvements | 51,460 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 3,373 | ||||
Total Cost | |||||
Land | 116,129 | ||||
Building & Improvements | 54,833 | ||||
Total | 170,962 | 170,962 | |||
Accumulated Depreciation | (6,877) | (6,877) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 164,085 | ||||
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 | 170,962 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 6,877 | ||||
Westchase [Member] | |||||
Initial Cost | |||||
Land | 5,302 | ||||
Building & Improvements | 8,273 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,048 | ||||
Total Cost | |||||
Land | 5,302 | ||||
Building & Improvements | 9,321 | ||||
Total | 14,623 | 14,623 | |||
Accumulated Depreciation | (3,860) | (3,860) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 10,763 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 14,623 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 3,860 | ||||
Westchester Commons [Member] | |||||
Initial Cost | |||||
Land | 3,366 | ||||
Building & Improvements | 11,751 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 10,792 | ||||
Total Cost | |||||
Land | 4,894 | ||||
Building & Improvements | 21,015 | ||||
Total | 25,909 | 25,909 | |||
Accumulated Depreciation | (8,151) | (8,151) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 17,758 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 25,909 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 8,151 | ||||
Westlake Village Plaza [Member] | |||||
Initial Cost | |||||
Land | 7,043 | ||||
Building & Improvements | 27,195 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 30,129 | ||||
Total Cost | |||||
Land | 17,620 | ||||
Building & Improvements | 46,747 | ||||
Total | 64,367 | 64,367 | |||
Accumulated Depreciation | (25,579) | (25,579) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 38,788 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 64,367 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 25,579 | ||||
Westport Plaza [Member] | |||||
Initial Cost | |||||
Land | 9,035 | ||||
Building & Improvements | 7,455 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 11 | ||||
Total Cost | |||||
Land | 9,035 | ||||
Building & Improvements | 7,466 | ||||
Total | 16,501 | 16,501 | |||
Accumulated Depreciation | (1,018) | (1,018) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 15,483 | ||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (2,385) | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 16,501 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 1,018 | ||||
Westbard Manor Care [Member] | |||||
Initial Cost | |||||
Land | 12,808 | ||||
Building & Improvements | 2,420 | ||||
Total Cost | |||||
Land | 12,808 | ||||
Building & Improvements | 2,420 | ||||
Total | 15,228 | 15,228 | |||
Accumulated Depreciation | (1,204) | (1,204) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 14,024 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 15,228 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 1,204 | ||||
Westbard Square [Member] | |||||
Initial Cost | |||||
Land | 115,051 | ||||
Building & Improvements | 19,094 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (117) | ||||
Total Cost | |||||
Land | 115,051 | ||||
Building & Improvements | 18,977 | ||||
Total | 134,028 | 134,028 | |||
Accumulated Depreciation | (11,405) | (11,405) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 122,623 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 134,028 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 11,405 | ||||
Westwood Village [Member] | |||||
Initial Cost | |||||
Land | 19,933 | ||||
Building & Improvements | 25,301 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (1,597) | ||||
Total Cost | |||||
Land | 18,972 | ||||
Building & Improvements | 24,665 | ||||
Total | 43,637 | 43,637 | |||
Accumulated Depreciation | (14,339) | (14,339) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 29,298 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 43,637 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 14,339 | ||||
Whole Foods at Swampscott [Member] | |||||
Initial Cost | |||||
Land | 7,399 | ||||
Building & Improvements | 8,322 | ||||
Total Cost | |||||
Land | 7,399 | ||||
Building & Improvements | 8,322 | ||||
Total | 15,721 | 15,721 | |||
Accumulated Depreciation | (886) | (886) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 14,835 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 15,721 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 886 | ||||
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 | 827 | ||||
Total Cost | |||||
Land | 7,444 | ||||
Building & Improvements | 4,539 | ||||
Total | 11,983 | 11,983 | |||
Accumulated Depreciation | (719) | (719) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 11,264 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 11,983 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 719 | ||||
Willow Festival [Member] | |||||
Initial Cost | |||||
Land | 1,954 | ||||
Building & Improvements | 56,501 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 2,826 | ||||
Total Cost | |||||
Land | 1,976 | ||||
Building & Improvements | 59,305 | ||||
Total | 61,281 | 61,281 | |||
Accumulated Depreciation | (16,549) | (16,549) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 44,732 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 61,281 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 16,549 | ||||
Willow Oaks [Member] | |||||
Initial Cost | |||||
Land | 6,664 | ||||
Building & Improvements | 7,908 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 6 | ||||
Total Cost | |||||
Land | 6,664 | ||||
Building & Improvements | 7,914 | ||||
Total | 14,578 | 14,578 | |||
Accumulated Depreciation | (2,053) | (2,053) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 12,525 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 14,578 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 2,053 | ||||
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 | 1,555 | ||||
Total Cost | |||||
Land | 51,992 | ||||
Building & Improvements | 79,556 | ||||
Total | 131,548 | 131,548 | |||
Accumulated Depreciation | (7,601) | (7,601) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 123,947 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 131,548 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 7,601 | ||||
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 | 1,136 | ||||
Total Cost | |||||
Land | 1,421 | ||||
Building & Improvements | 7,418 | ||||
Total | 8,839 | 8,839 | |||
Accumulated Depreciation | (4,776) | (4,776) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 4,063 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 8,839 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 4,776 | ||||
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 | 423 | ||||
Total Cost | |||||
Land | 5,500 | ||||
Building & Improvements | 7,618 | ||||
Total | 13,118 | 13,118 | |||
Accumulated Depreciation | (4,146) | (4,146) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 8,972 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 13,118 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 4,146 | ||||
Woodmen Plaza [Member] | |||||
Initial Cost | |||||
Land | 7,621 | ||||
Building & Improvements | 11,018 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 959 | ||||
Total Cost | |||||
Land | 7,621 | ||||
Building & Improvements | 11,977 | ||||
Total | 19,598 | 19,598 | |||
Accumulated Depreciation | (10,982) | (10,982) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 8,616 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 19,598 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 10,982 | ||||
Woodside Central [Member] | |||||
Initial Cost | |||||
Land | 3,500 | ||||
Building & Improvements | 9,288 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 662 | ||||
Total Cost | |||||
Land | 3,489 | ||||
Building & Improvements | 9,961 | ||||
Total | 13,450 | 13,450 | |||
Accumulated Depreciation | (5,391) | (5,391) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 8,059 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 13,450 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 5,391 | ||||
Young Circle Shopping Center [Member] | |||||
Initial Cost | |||||
Land | 5,986 | ||||
Building & Improvements | 10,394 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (684) | ||||
Total Cost | |||||
Land | 5,986 | ||||
Building & Improvements | 9,710 | ||||
Total | 15,696 | 15,696 | |||
Accumulated Depreciation | (1,019) | (1,019) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 14,677 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 15,696 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 1,019 | ||||
Corporate Assets [Member] | |||||
Initial Cost | |||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 2,303 | ||||
Total Cost | |||||
Building & Improvements | 2,303 | ||||
Total | 2,303 | 2,303 | |||
Accumulated Depreciation | (1,646) | (1,646) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 657 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 2,303 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 1,646 | ||||
Land Held for Future Development [Member] | |||||
Initial Cost | |||||
Land | 37,520 | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (6,862) | ||||
Total Cost | |||||
Land | 30,571 | ||||
Building & Improvements | 87 | ||||
Total | 30,658 | 30,658 | |||
Accumulated Depreciation | (2) | (2) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 30,656 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | 30,658 | ||||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||||
Ending balance | 2 | ||||
Construction in Progress [Member] | |||||
Initial Cost | |||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 151,880 | ||||
Total Cost | |||||
Building & Improvements | 151,880 | ||||
Total | 151,880 | 151,880 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | $ 151,880 | ||||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||||
Ending balance | $ 151,880 |