Document and Entity Information
Document and Entity Information - USD ($) $ in Billions | 12 Months Ended | ||
Dec. 31, 2020 | Feb. 15, 2021 | Jun. 30, 2020 | |
Document Information [Line Items] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Dec. 31, 2020 | ||
Document Fiscal Year Focus | 2020 | ||
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 | $ 7.7 | ||
Entity Common Stock, Shares Outstanding | 169,828,953 | ||
Entity Shell Company | false | ||
Entity Small Business | false | ||
ICFR Auditor Attestation Flag | true | ||
Entity Emerging Growth Company | false | ||
Title of 12(b) Security | Common Stock, $.01 par value | ||
Trading Symbol | REG | ||
Security Exchange Name | NASDAQ | ||
Entity File Number | 1-12298 | ||
Entity Incorporation, State or Country Code | FL | ||
Entity Tax Identification Number | 59-3191743 | ||
Entity Address, Address Line One | One Independent Drive | ||
Entity Address, Address Line Two | Suite 114 | ||
Entity Address, City or Town | Jacksonville | ||
Entity Address, State or Province | FL | ||
Entity Address, Postal Zip Code | 32202 | ||
City Area Code | 904 | ||
Local Phone Number | 598-7000 | ||
Document Annual Report | true | ||
Document Transition Report | false | ||
Documents Incorporated by Reference | Portions of Regency Centers Corporation's proxy statement in connection with its 2021 Annual Meeting of Stockholders are incorporated by reference in Part III. | ||
Partnership Interest [Member] | |||
Document Information [Line Items] | |||
Entity Registrant Name | REGENCY CENTERS, L.P. | ||
Entity Central Index Key | 0001066247 | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Accelerated Filer | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Shell Company | false | ||
Entity Small Business | false | ||
ICFR Auditor Attestation Flag | true | ||
Entity Emerging Growth Company | false | ||
Entity File Number | 0-24763 | ||
Entity Incorporation, State or Country Code | DE | ||
Entity Tax Identification Number | 59-3429602 | ||
Entity Address, Address Line One | One Independent Drive | ||
Entity Address, Address Line Two | Suite 114 | ||
Entity Address, City or Town | Jacksonville | ||
Entity Address, State or Province | FL | ||
Entity Address, Postal Zip Code | 32202 | ||
City Area Code | 904 | ||
Local Phone Number | 598-7000 | ||
Document Annual Report | true | ||
Document Transition Report | false |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Real Estate Investment Property, at Cost [Abstract] | ||
Real estate assets, at cost (note 1): | $ 11,101,858 | $ 11,095,294 |
Less: accumulated depreciation | 1,994,108 | 1,766,162 |
Real estate assets, net | 9,107,750 | 9,329,132 |
Investments in real estate partnerships (note 4) | 467,155 | 469,522 |
Properties held for sale | 33,934 | 45,565 |
Cash, cash equivalents, and restricted cash, including $2,377 and $2,542 of restricted cash at December 31, 2020 and 2019, respectively (note 1) | 378,450 | 115,562 |
Tenant and other receivables (note 1) | 143,633 | 169,337 |
Deferred leasing costs, less accumulated amortization of $113,959 and $108,381 at December 31, 2020 and 2019, respectively | 67,910 | 76,798 |
Acquired lease intangible assets, less accumulated amortization of $284,880 and $259,310 at December 31, 2020 and 2019, respectively (note 6) | 188,799 | 242,822 |
Right of use assets, net | 287,827 | 292,786 |
Other assets (note 5) | 261,446 | 390,729 |
Total assets | 10,936,904 | 11,132,253 |
Liabilities: | ||
Notes payable (note 9) | 3,658,405 | 3,435,161 |
Unsecured credit facilities (note 9) | 264,679 | 484,383 |
Accounts payable and other liabilities | 302,361 | 213,705 |
Acquired lease intangible liabilities, less accumulated amortization of $145,966 and $131,676 at December 31, 2020 and 2019, respectively (note 6) | 377,712 | 427,260 |
Lease liabilities | 220,390 | 222,918 |
Tenants’ security, escrow deposits and prepaid rent | 55,210 | 58,865 |
Total liabilities | 4,878,757 | 4,842,292 |
Commitments and contingencies (note 16) | 0 | 0 |
Stockholders’ equity/Partners’ capital: | ||
Common stock $0.01 par value per share, 220,000,000 shares authorized; 169,680,138 and 167,571,218 shares issued at December 31, 2020 and 2019, respectively | 1,697 | 1,676 |
Treasury stock at cost, 459,828 and 440,574 shares held at December 31, 2020 and 2019, respectively | (24,436) | (23,199) |
Additional paid-in capital | 7,792,082 | 7,654,930 |
Accumulated other comprehensive loss | (18,625) | (11,997) |
Distributions in excess of net income | (1,765,806) | (1,408,062) |
Total stockholders’ equity | 5,984,912 | 6,213,348 |
Noncontrolling interests (note 12): | ||
Exchangeable operating partnership units, aggregate redemption value of $34,878 and $47,092 at December 31, 2020 and 2019, respectively | 35,727 | 36,100 |
Limited partners’ interests in consolidated partnerships (note 1) | 37,508 | 40,513 |
Total noncontrolling interests | 73,235 | 76,613 |
Total equity | 6,058,147 | 6,289,961 |
Total liabilities and equity | 10,936,904 | 11,132,253 |
Partnership Interest [Member] | ||
Real Estate Investment Property, at Cost [Abstract] | ||
Real estate assets, at cost (note 1): | 11,101,858 | 11,095,294 |
Less: accumulated depreciation | 1,994,108 | 1,766,162 |
Real estate assets, net | 9,107,750 | 9,329,132 |
Investments in real estate partnerships (note 4) | 467,155 | 469,522 |
Properties held for sale | 33,934 | 45,565 |
Cash, cash equivalents, and restricted cash, including $2,377 and $2,542 of restricted cash at December 31, 2020 and 2019, respectively (note 1) | 378,450 | 115,562 |
Tenant and other receivables (note 1) | 143,633 | 169,337 |
Deferred leasing costs, less accumulated amortization of $113,959 and $108,381 at December 31, 2020 and 2019, respectively | 67,910 | 76,798 |
Acquired lease intangible assets, less accumulated amortization of $284,880 and $259,310 at December 31, 2020 and 2019, respectively (note 6) | 188,799 | 242,822 |
Right of use assets, net | 287,827 | 292,786 |
Other assets (note 5) | 261,446 | 390,729 |
Total assets | 10,936,904 | 11,132,253 |
Liabilities: | ||
Notes payable (note 9) | 3,658,405 | 3,435,161 |
Unsecured credit facilities (note 9) | 264,679 | 484,383 |
Accounts payable and other liabilities | 302,361 | 213,705 |
Acquired lease intangible liabilities, less accumulated amortization of $145,966 and $131,676 at December 31, 2020 and 2019, respectively (note 6) | 377,712 | 427,260 |
Lease liabilities | 220,390 | 222,918 |
Tenants’ security, escrow deposits and prepaid rent | 55,210 | 58,865 |
Total liabilities | 4,878,757 | 4,842,292 |
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 | 6,003,537 | 6,225,345 |
Limited partners; 349,902 units outstanding at December 31, 2019 and 2018 | 35,727 | 36,100 |
Accumulated other comprehensive loss | (18,625) | (11,997) |
Total partners’ capital | 6,020,639 | 6,249,448 |
Noncontrolling interests (note 12): | ||
Limited partners’ interests in consolidated partnerships (note 1) | 37,508 | 40,513 |
Total capital | 6,058,147 | 6,289,961 |
Total liabilities and equity | $ 10,936,904 | $ 11,132,253 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Restricted Cash and Cash Equivalent | $ 2,377 | $ 2,542 |
Deferred costs accumulated amortization | 113,959 | 108,381 |
Accumulated amortization of acquired lease intangible assets | 284,880 | 259,310 |
Accumulated accretion of acquired lease intangible liabilities | $ 145,966 | $ 131,676 |
Common stock, par value per share | $ 0.01 | $ 0.01 |
Common stock, shares authorized | 220,000,000 | 220,000,000 |
Common stock, shares issued | 169,680,138 | 167,571,218 |
Treasury stock, shares held at cost | 459,828 | 440,574 |
Exchangeable operating partnership units aggregate redemption value | $ 34,878 | $ 47,092 |
General partner units, outstanding | 169,680,000 | 167,571,000 |
Limited partner units, outstanding | 765,000 | 746,000 |
Partnership Interest [Member] | ||
Restricted Cash and Cash Equivalent | $ 2,377 | $ 2,542 |
Deferred costs accumulated amortization | 113,959 | 108,381 |
Accumulated amortization of acquired lease intangible assets | 284,880 | 259,310 |
Accumulated accretion of acquired lease intangible liabilities | $ 145,966 | $ 131,676 |
General partner units, outstanding | 169,680,138 | 167,571,218 |
Limited partner units, outstanding | 765,046 | 746,433 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Revenues: | |||
Lease income | $ 980,166 | $ 1,094,301 | $ 1,083,770 |
Other property income | 9,508 | 9,201 | 8,711 |
Management, transaction, and other fees | 26,501 | 29,636 | 28,494 |
Total revenues | 1,016,175 | 1,133,138 | 1,120,975 |
Operating expenses: | |||
Depreciation and amortization | 345,900 | 374,283 | 359,688 |
Operating and maintenance | 170,073 | 169,909 | 168,034 |
General and administrative | 75,001 | 74,984 | 65,491 |
Real estate taxes | 143,004 | 136,236 | 137,856 |
Other operating expenses | 12,642 | 7,814 | 9,737 |
Total operating expenses | 746,620 | 763,226 | 740,806 |
Other expense (income): | |||
Interest expense, net | 156,678 | 151,264 | 148,456 |
Goodwill impairment | 132,128 | 0 | 0 |
Provision for impairment of real estate, net of tax | 18,536 | 54,174 | 38,437 |
Gain on sale of real estate, net of tax | (67,465) | (24,242) | (28,343) |
Early extinguishment of debt | 21,837 | 11,982 | 11,172 |
Net investment (income) loss | (5,307) | (5,568) | 1,096 |
Total other expense (income) | 256,407 | 187,610 | 170,818 |
Income from operations before equity in income of investments in real estate partnerships | 13,148 | 182,302 | 209,351 |
Equity in income of investments in real estate partnerships (note 4) | 34,169 | 60,956 | 42,974 |
Net income | 47,317 | 243,258 | 252,325 |
Noncontrolling interests: | |||
Exchangeable operating partnership units | (203) | (634) | (525) |
Limited partners’ interests in consolidated partnerships | (2,225) | (3,194) | (2,673) |
Income attributable to noncontrolling interests | (2,428) | (3,828) | (3,198) |
Net income attributable to common stockholders | $ 44,889 | $ 239,430 | $ 249,127 |
Income per common share - basic (note 15) | $ 0.27 | $ 1.43 | $ 1.47 |
Income per common share - diluted (note 15) | $ 0.26 | $ 1.43 | $ 1.46 |
Partnership Interest [Member] | |||
Revenues: | |||
Lease income | $ 980,166 | $ 1,094,301 | $ 1,083,770 |
Other property income | 9,508 | 9,201 | 8,711 |
Management, transaction, and other fees | 26,501 | 29,636 | 28,494 |
Total revenues | 1,016,175 | 1,133,138 | 1,120,975 |
Operating expenses: | |||
Depreciation and amortization | 345,900 | 374,283 | 359,688 |
Operating and maintenance | 170,073 | 169,909 | 168,034 |
General and administrative | 75,001 | 74,984 | 65,491 |
Real estate taxes | 143,004 | 136,236 | 137,856 |
Other operating expenses | 12,642 | 7,814 | 9,737 |
Total operating expenses | 746,620 | 763,226 | 740,806 |
Other expense (income): | |||
Interest expense, net | 156,678 | 151,264 | 148,456 |
Goodwill impairment | 132,128 | 0 | 0 |
Provision for impairment of real estate, net of tax | 18,536 | 54,174 | 38,437 |
Gain on sale of real estate, net of tax | (67,465) | (24,242) | (28,343) |
Early extinguishment of debt | 21,837 | 11,982 | 11,172 |
Net investment (income) loss | (5,307) | (5,568) | 1,096 |
Total other expense (income) | 256,407 | 187,610 | 170,818 |
Income from operations before equity in income of investments in real estate partnerships | 13,148 | 182,302 | 209,351 |
Equity in income of investments in real estate partnerships (note 4) | 34,169 | 60,956 | 42,974 |
Net income | 47,317 | 243,258 | 252,325 |
Noncontrolling interests: | |||
Limited partners’ interests in consolidated partnerships | (2,225) | (3,194) | (2,673) |
Income attributable to noncontrolling interests | (2,225) | (3,194) | (2,673) |
Net income attributable to common unit holders | $ 45,092 | $ 240,064 | $ 249,652 |
Income per common unit - basic (note 15): | $ 0.27 | $ 1.43 | $ 1.47 |
Income per common unit - diluted (note 15): | $ 0.26 | $ 1.43 | $ 1.46 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Net income | $ 47,317 | $ 243,258 | $ 252,325 |
Other comprehensive (loss) income: | |||
Effective portion of change in fair value of derivative instruments | (19,187) | (15,585) | 402 |
Reclassification adjustment of derivative instruments included in net income | 11,262 | 3,269 | 5,342 |
Unrealized gain (loss) on available-for-sale securities | 320 | 315 | (95) |
Other comprehensive (loss) income | (7,605) | (12,001) | 5,649 |
Comprehensive income | 39,712 | 231,257 | 257,974 |
Less: comprehensive income attributable to noncontrolling interests: | |||
Net income attributable to noncontrolling interests | 2,428 | 3,828 | 3,198 |
Other comprehensive (loss) income attributable to noncontrolling interests | (977) | (931) | 299 |
Comprehensive (loss) income attributable to noncontrolling interests | 1,451 | 2,897 | 3,497 |
Comprehensive income attributable to the Company | 38,261 | 228,360 | 254,477 |
Partnership Interest [Member] | |||
Net income | 47,317 | 243,258 | 252,325 |
Other comprehensive (loss) income: | |||
Effective portion of change in fair value of derivative instruments | (19,187) | (15,585) | 402 |
Reclassification adjustment of derivative instruments included in net income | 11,262 | 3,269 | 5,342 |
Unrealized gain (loss) on available-for-sale securities | 320 | 315 | (95) |
Other comprehensive (loss) income | (7,605) | (12,001) | 5,649 |
Comprehensive income | 39,712 | 231,257 | 257,974 |
Less: comprehensive income attributable to noncontrolling interests: | |||
Net income attributable to noncontrolling interests | 2,225 | 3,194 | 2,673 |
Other comprehensive (loss) income attributable to noncontrolling interests | (948) | (912) | 288 |
Comprehensive (loss) income attributable to noncontrolling interests | 1,277 | 2,282 | 2,961 |
Comprehensive income attributable to the Company | $ 38,435 | $ 228,975 | $ 255,013 |
Consolidated Statement of Equit
Consolidated Statement of Equity - USD ($) | Total | Common Stock [Member] | Treasury Stock [Member] | Additional Paid-in Capital [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Distributions in Excess of Net Income [Member] | Total Stockholders' Equity [Member] | Noncontrolling Interest Exchangeable Operating Partnership Units [Member] | Noncontrolling Interests in Limited Partners' Interest in Consolidated Partnerships [Member] | Noncontrolling Interest [Member] |
Beginning balance at Dec. 31, 2017 | $ 6,733,054,000 | $ 1,714,000 | $ (18,307,000) | $ 7,873,104,000 | $ (6,289,000) | $ (1,158,170,000) | $ 6,692,052,000 | $ 10,907,000 | $ 30,095,000 | $ 41,002,000 |
Adjustment due to change in accounting policy (note 1) at Dec. 31, 2017 | 30,903,000 | 12,000 | 30,889,000 | 30,901,000 | 2,000 | 2,000 | ||||
Adjusted balance at Dec. 31, 2017 | 6,763,957,000 | 1,714,000 | (18,307,000) | 7,873,104,000 | (6,277,000) | (1,127,281,000) | 6,722,953,000 | 10,907,000 | 30,097,000 | 41,004,000 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||
Net income | 252,325,000 | 249,127,000 | 249,127,000 | 525,000 | 2,673,000 | 3,198,000 | ||||
Other comprehensive (loss) income: | ||||||||||
Other comprehensive Income (loss) before reclassifications | 307,000 | 36,000 | 36,000 | 271,000 | 271,000 | |||||
Amounts reclassified from accumulated other comprehensive income | 5,342,000 | 5,314,000 | 5,314,000 | 11,000 | 17,000 | 28,000 | ||||
Deferred compensation plan, net | (13,000) | (1,527,000) | 1,514,000 | (13,000) | ||||||
Restricted stock issued, net of amortization | 16,745,000 | 2,000 | 16,743,000 | 16,745,000 | ||||||
Common stock redeemed for taxes withheld for stock based compensation, net | (6,373,000) | (6,373,000) | (6,373,000) | |||||||
Common stock issued under dividend reinvestment plan | 1,333,000 | 1,333,000 | 1,333,000 | |||||||
Common stock issued, net of issuance costs | 10,000 | 10,000 | 10,000 | |||||||
Common stock repurchased and retired | (213,851,000) | (37,000) | (213,814,000) | (213,851,000) | ||||||
Contributions from partners | 13,000,000 | 13,000,000 | 13,000,000 | |||||||
Distributions to partners | (4,526,000) | (4,526,000) | (4,526,000) | |||||||
Cash dividends declared: | ||||||||||
Common stock/unit | (378,088,000) | (377,311,000) | (377,311,000) | (777,000) | (777,000) | |||||
Ending Balance at Dec. 31, 2018 | 6,450,168,000 | 1,679,000 | (19,834,000) | 7,672,517,000 | (927,000) | (1,255,465,000) | 6,397,970,000 | 10,666,000 | 41,532,000 | 52,198,000 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||
Net income | 243,258,000 | 239,430,000 | 239,430,000 | 634,000 | 3,194,000 | 3,828,000 | ||||
Other comprehensive (loss) income: | ||||||||||
Other comprehensive Income (loss) before reclassifications | (15,270,000) | (14,388,000) | (14,388,000) | (31,000) | (851,000) | (882,000) | ||||
Amounts reclassified from accumulated other comprehensive income | 3,269,000 | 3,318,000 | 3,318,000 | 12,000 | (61,000) | (49,000) | ||||
Deferred compensation plan, net | (3,365,000) | 3,365,000 | ||||||||
Restricted stock issued, net of amortization | 16,254,000 | 2,000 | 16,252,000 | 16,254,000 | ||||||
Common stock redeemed for taxes withheld for stock based compensation, net | (5,794,000) | (5,794,000) | (5,794,000) | |||||||
Common stock issued under dividend reinvestment plan | 1,429,000 | 1,000 | 1,428,000 | 1,429,000 | ||||||
Common stock repurchased and retired | (32,778,000) | (6,000) | (32,772,000) | (32,778,000) | ||||||
Contributions from partners | 2,151,000 | 2,151,000 | 2,151,000 | |||||||
Issuance of exchangeable operating partnership units | 25,870,000 | 25,870,000 | 25,870,000 | |||||||
Distributions to partners | (5,518,000) | (5,518,000) | (5,518,000) | |||||||
Cash dividends declared: | ||||||||||
Common stock/unit | (393,078,000) | (392,027,000) | (392,027,000) | (1,051,000) | (1,051,000) | |||||
Ending Balance at Dec. 31, 2019 | 6,289,961,000 | 1,676,000 | (23,199,000) | 7,654,930,000 | (11,997,000) | (1,408,062,000) | 6,213,348,000 | 36,100,000 | 40,513,000 | 76,613,000 |
Cash dividends declared: | ||||||||||
Reallocation of limited partners' interest | (66,000) | (66,000) | 66,000 | 66,000 | ||||||
Net income | 47,317,000 | 44,889,000 | 44,889,000 | 203,000 | 2,225,000 | 2,428,000 | ||||
Other comprehensive Income (loss) before reclassifications | (18,867,000) | (17,589,000) | (17,589,000) | (79,000) | (1,199,000) | (1,278,000) | ||||
Amounts reclassified from accumulated other comprehensive income | 11,262,000 | 10,961,000 | 10,961,000 | 50,000 | 251,000 | 301,000 | ||||
Deferred compensation plan, net | (1,237,000) | 1,237,000 | ||||||||
Restricted stock issued, net of amortization | 14,248,000 | 2,000 | 14,246,000 | 14,248,000 | ||||||
Common stock redeemed for taxes withheld for stock based compensation, net | (5,059,000) | (5,059,000) | (5,059,000) | |||||||
Common stock issued under dividend reinvestment plan | 1,139,000 | 1,139,000 | 1,139,000 | |||||||
Common stock issued, net of issuance costs | 125,608,000 | 19,000 | 125,589,000 | 125,608,000 | ||||||
Common stock repurchased and retired | 0 | |||||||||
Contributions from partners | 606,000 | 606,000 | 606,000 | |||||||
Issuance of exchangeable operating partnership units | 1,275,000 | 1,275,000 | 1,275,000 | |||||||
Distributions to partners | (4,888,000) | (4,888,000) | (4,888,000) | |||||||
Common stock/unit | (404,455,000) | (402,633,000) | (402,633,000) | (1,822,000) | (1,822,000) | |||||
Ending Balance at Dec. 31, 2020 | $ 6,058,147,000 | $ 1,697,000 | $ (24,436,000) | $ 7,792,082,000 | $ (18,625,000) | $ (1,765,806,000) | $ 5,984,912,000 | $ 35,727,000 | $ 37,508,000 | $ 73,235,000 |
Consolidated Statement of Equ_2
Consolidated Statement of Equity (Parenthetical) - $ / shares | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Statement Of Stockholders Equity [Abstract] | |||
Common stock/unit per share | $ 2.38 | $ 2.34 | $ 2.22 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Cash flows from operating activities: | |||
Net income | $ 47,317 | $ 243,258 | $ 252,325 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation and amortization | 345,900 | 374,283 | 359,688 |
Amortization of deferred loan costs and debt premiums | 9,023 | 11,170 | 10,476 |
(Accretion) and amortization of above and below market lease intangibles, net | (40,540) | (43,867) | (33,330) |
Stock-based compensation, net of capitalization | 13,581 | 14,339 | 13,635 |
Equity in income of investments in real estate partnerships | (34,169) | (60,956) | (42,974) |
Gain on sale of real estate, net of tax | (67,465) | (24,242) | (28,343) |
Provision for impairment of real estate, net of tax | 18,536 | 54,174 | 38,437 |
Goodwill impairment | 132,128 | 0 | 0 |
Early extinguishment of debt | 21,837 | 11,982 | 11,172 |
Distribution of earnings from investments in real estate partnerships | 47,703 | 56,297 | 54,266 |
Settlement of derivative instrument | 0 | (6,870) | 0 |
Deferred compensation expense | 4,668 | 5,169 | (1,085) |
Realized and unrealized gain on investments | (5,519) | (5,433) | 1,177 |
Changes in assets and liabilities: | |||
Tenant and other receivables | 16,944 | (4,690) | (26,374) |
Deferred leasing costs | (6,973) | (6,777) | (8,366) |
Other assets | (1,200) | (1,570) | (1,410) |
Accounts payable and other liabilities | 997 | 4,175 | (760) |
Tenants’ security, escrow deposits and prepaid rent | (3,650) | 829 | 11,793 |
Net cash provided by operating activities | 499,118 | 621,271 | 610,327 |
Cash flows from investing activities: | |||
Acquisition of operating real estate | (16,867) | (222,444) | (85,289) |
Advance deposits refunded (paid) on acquisition of operating real estate | 100 | (125) | 0 |
Real estate development and capital improvements | (180,804) | (200,012) | (226,191) |
Proceeds from sale of real estate investments | 189,444 | 137,572 | 250,445 |
Proceeds from property insurance casualty claims | 7,957 | 9,350 | 0 |
(Issuance) collection of notes receivable | (1,340) | (547) | 15,648 |
Investments in real estate partnerships | (51,440) | (66,921) | (74,238) |
Return of capital from investments in real estate partnerships | 32,125 | 63,693 | 14,647 |
Dividends on investment securities | 353 | 660 | 531 |
Acquisition of investment securities | (25,155) | (23,458) | (23,164) |
Proceeds from sale of investment securities | 19,986 | 19,539 | 21,587 |
Net cash used in investing activities | (25,641) | (282,693) | (106,024) |
Cash flows from financing activities: | |||
Net proceeds from common stock issuance | 125,608 | 0 | 0 |
Repurchase of common shares/units in conjunction with tax withholdings on equity award plans | (5,512) | (6,204) | (6,772) |
Proceeds from sale of treasury stock | 269 | 9 | 99 |
Common shares repurchased through share repurchase program | 0 | (32,778) | (213,851) |
Distributions to limited partners in consolidated partnerships, net | (2,770) | (3,367) | (4,526) |
Distributions to exchangeable operating partnership unit holders | (1,366) | (1,051) | (777) |
Dividends paid to common stockholders/ Distributions to partners | (300,537) | (390,598) | (375,978) |
Repayment of fixed rate unsecured notes | (300,000) | (250,000) | (150,000) |
Proceeds from issuance of fixed rate unsecured notes, net | 598,830 | 723,571 | 299,511 |
Proceeds from unsecured credit facilities | 610,000 | 560,000 | 575,000 |
Repayment of unsecured credit facilities | (830,000) | (785,000) | (490,000) |
Proceeds from notes payable | 0 | 0 | 1,740 |
Repayment of notes payable | (67,189) | (55,680) | (113,037) |
Scheduled principal payments | (11,104) | (9,442) | (9,964) |
Payment of loan costs | (5,063) | (7,019) | (9,448) |
Early redemption costs | (21,755) | (10,647) | (10,491) |
Net cash used in financing activities | (210,589) | (268,206) | (508,494) |
Net increase (decrease) in cash, cash equivalents, and restricted cash | 262,888 | 70,372 | (4,191) |
Cash, cash equivalents, and restricted cash at beginning of the year | 115,562 | 45,190 | 49,381 |
Cash, cash equivalents, and restricted cash at end of the year | 378,450 | 115,562 | 45,190 |
Supplemental disclosure of cash flow information: | |||
Cash paid for interest (net of capitalized interest of $4,355, $4,192, and $7,020 in 2020, 2019, and 2018, respectively) | 151,338 | 136,139 | 136,645 |
Cash paid for income taxes, net of refunds | 1,870 | 1,225 | 5,455 |
Supplemental disclosure of non-cash transactions: | |||
Exchangeable operating partnership units issued for acquisition of real estate | 1,275 | 25,870 | |
Acquisition of real estate previously held within investments in real estate partnerships | 5,986 | ||
Mortgage loans for the acquisition of real estate | 16,359 | 26,152 | 9,700 |
Mortgage loan assumed by purchaser with the sale of real estate | 8,250 | ||
Change in fair value of securities | 315 | 660 | (206) |
Change in accrued capital expenditures | 12,166 | 10,704 | |
Common stock issued for dividend reinvestment plan | 1,139 | 1,429 | 1,333 |
Stock-based compensation capitalized | 1,119 | 2,325 | 3,509 |
Common stock and exchangeable operating partnership dividends declared but not yet paid | 101,412 | ||
Common stock issued for dividend reinvestment in trust | 819 | 987 | 841 |
Contribution of stock awards into trust | 1,524 | 2,582 | 1,314 |
Distribution of stock held in trust | 1,052 | 197 | 524 |
Common stock issued under dividend reinvestment plan | 1,139 | 1,429 | 1,333 |
(Distributions to) Contributions from limited partners in consolidated partnerships, net | (1,512) | 66 | 13,000 |
Partnership Interest [Member] | |||
Cash flows from operating activities: | |||
Net income | 47,317 | 243,258 | 252,325 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation and amortization | 345,900 | 374,283 | 359,688 |
Amortization of deferred loan costs and debt premiums | 9,023 | 11,170 | 10,476 |
(Accretion) and amortization of above and below market lease intangibles, net | (40,540) | (43,867) | (33,330) |
Stock-based compensation, net of capitalization | 13,581 | 14,339 | 13,635 |
Equity in income of investments in real estate partnerships | (34,169) | (60,956) | (42,974) |
Gain on sale of real estate, net of tax | (67,465) | (24,242) | (28,343) |
Provision for impairment of real estate, net of tax | 18,536 | 54,174 | 38,437 |
Goodwill impairment | 132,128 | 0 | 0 |
Early extinguishment of debt | 21,837 | 11,982 | 11,172 |
Distribution of earnings from investments in real estate partnerships | 47,703 | 56,297 | 54,266 |
Settlement of derivative instrument | 0 | (6,870) | 0 |
Deferred compensation expense | 4,668 | 5,169 | (1,085) |
Realized and unrealized gain on investments | (5,519) | (5,433) | 1,177 |
Changes in assets and liabilities: | |||
Tenant and other receivables | 16,944 | (4,690) | (26,374) |
Deferred leasing costs | (6,973) | (6,777) | (8,366) |
Other assets | (1,200) | (1,570) | (1,410) |
Accounts payable and other liabilities | 997 | 4,175 | (760) |
Tenants’ security, escrow deposits and prepaid rent | (3,650) | 829 | 11,793 |
Net cash provided by operating activities | 499,118 | 621,271 | 610,327 |
Cash flows from investing activities: | |||
Acquisition of operating real estate | (16,867) | (222,444) | (85,289) |
Advance deposits refunded (paid) on acquisition of operating real estate | 100 | (125) | 0 |
Real estate development and capital improvements | (180,804) | (200,012) | (226,191) |
Proceeds from sale of real estate investments | 189,444 | 137,572 | 250,445 |
Proceeds from property insurance casualty claims | 7,957 | 9,350 | 0 |
(Issuance) collection of notes receivable | (1,340) | (547) | 15,648 |
Investments in real estate partnerships | (51,440) | (66,921) | (74,238) |
Return of capital from investments in real estate partnerships | 32,125 | 63,693 | 14,647 |
Dividends on investment securities | 353 | 660 | 531 |
Acquisition of investment securities | (25,155) | (23,458) | (23,164) |
Proceeds from sale of investment securities | 19,986 | 19,539 | 21,587 |
Net cash used in investing activities | (25,641) | (282,693) | (106,024) |
Cash flows from financing activities: | |||
Net proceeds from common stock issuance | 125,608 | ||
Repurchase of common shares/units in conjunction with tax withholdings on equity award plans | (5,512) | (6,204) | (6,772) |
Proceeds from sale of treasury stock | 269 | 9 | 99 |
Common shares repurchased through share repurchase program | 0 | (32,778) | (213,851) |
Distributions to limited partners in consolidated partnerships, net | (2,770) | (3,367) | (4,526) |
Dividends paid to common stockholders/ Distributions to partners | (301,903) | (391,649) | (376,755) |
Repayment of fixed rate unsecured notes | (300,000) | (250,000) | (150,000) |
Proceeds from issuance of fixed rate unsecured notes, net | 598,830 | 723,571 | 299,511 |
Proceeds from unsecured credit facilities | 610,000 | 560,000 | 575,000 |
Repayment of unsecured credit facilities | (830,000) | (785,000) | (490,000) |
Proceeds from notes payable | 0 | 0 | 1,740 |
Repayment of notes payable | (67,189) | (55,680) | (113,037) |
Scheduled principal payments | (11,104) | (9,442) | (9,964) |
Payment of loan costs | (5,063) | (7,019) | (9,448) |
Early redemption costs | (21,755) | (10,647) | (10,491) |
Net cash used in financing activities | (210,589) | (268,206) | (508,494) |
Net increase (decrease) in cash, cash equivalents, and restricted cash | 262,888 | 70,372 | (4,191) |
Cash, cash equivalents, and restricted cash at beginning of the year | 115,562 | 45,190 | 49,381 |
Cash, cash equivalents, and restricted cash at end of the year | 378,450 | 115,562 | 45,190 |
Supplemental disclosure of cash flow information: | |||
Cash paid for interest (net of capitalized interest of $4,355, $4,192, and $7,020 in 2020, 2019, and 2018, respectively) | 151,338 | 136,139 | 136,645 |
Cash paid for income taxes, net of refunds | 1,870 | 1,225 | 5,455 |
Supplemental disclosure of non-cash transactions: | |||
Exchangeable operating partnership units issued for acquisition of real estate | 1,275 | 25,870 | |
Mortgage loans for the acquisition of real estate | 16,359 | 26,152 | 9,700 |
Change in fair value of securities | 315 | 660 | (206) |
Change in accrued capital expenditures | 12,166 | 10,704 | |
Common stock issued for dividend reinvestment plan | 1,139 | 1,429 | 1,333 |
Stock-based compensation capitalized | 1,119 | 2,325 | 3,509 |
Common stock and exchangeable operating partnership dividends declared but not yet paid | 101,412 | ||
Common stock issued for dividend reinvestment in trust | 819 | 987 | 841 |
Contribution of stock awards into trust | 1,524 | 2,582 | 1,314 |
Distribution of stock held in trust | 1,052 | 197 | 524 |
Common stock issued by Parent Company for partnership units exchanged | 1,275 | 25,870 | |
Acquisition of real estate previously held within investments in real estate partnerships | 5,986 | ||
Mortgage loan assumed by purchaser with the sale of real estate | 8,250 | ||
Common stock issued under dividend reinvestment plan | 1,139 | 1,429 | 1,333 |
(Distributions to) Contributions from limited partners in consolidated partnerships, net | $ (1,512) | $ 66 | $ 13,000 |
Consolidated Statements of Ca_2
Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Capitalized interest | $ 4,355 | $ 4,192 | $ 7,020 |
Partnership Interest [Member] | |||
Capitalized interest | $ 4,355 | $ 4,192 | $ 7,020 |
Consolidated Statement of Chang
Consolidated Statement of Changes in Partner Capital Statement - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Adjusted balance | $ 6,763,957 | ||
Net income | $ 47,317 | $ 243,258 | 252,325 |
Other comprehensive income | |||
Amounts reclassified from accumulated other comprehensive income | 11,262 | 3,269 | 5,342 |
Contributions from partners | 606 | 2,151 | 13,000 |
Exchangeable operating partnership units issued for acquisition of real estate | 1,275 | 25,870 | |
Distributions to partners | (4,888) | (5,518) | (4,526) |
Restricted stock issued, net of amortization | 14,248 | 16,254 | 16,745 |
Total Stockholders' Equity [Member] | |||
Adjusted balance | 6,722,953 | ||
Net income | 44,889 | 239,430 | 249,127 |
Other comprehensive income | |||
Amounts reclassified from accumulated other comprehensive income | 10,961 | 3,318 | 5,314 |
Reallocation of limited partners' interest | (66) | ||
Restricted stock issued, net of amortization | 14,248 | 16,254 | 16,745 |
Partnership Interest [Member] | |||
Beginning Balance | 6,289,961 | 6,450,168 | 6,733,054 |
Adjustment due to change in accounting policy (note 1) | 30,903 | ||
Adjusted balance | 6,763,957 | ||
Net income | 47,317 | 243,258 | 252,325 |
Other comprehensive income | |||
Other comprehensive income before reclassifications | (18,867) | (15,270) | 307 |
Amounts reclassified from accumulated other comprehensive income | 11,262 | 3,269 | 5,342 |
Deferred compensation plan, net | (13) | ||
Contributions from partners | 606 | 2,151 | 13,000 |
Exchangeable operating partnership units issued for acquisition of real estate | 1,275 | 25,870 | |
Distributions to partners | (409,343) | (398,596) | (382,614) |
Reallocation of limited partners' interest | 0 | ||
Restricted stock issued, net of amortization | 14,248 | 16,254 | 16,745 |
Common units issued as a result of common stock issued by Parent Company, net of issuance costs | 125,608 | ||
Common units repurchased and retired as a result of common stock repurchased and retired by Parent Company | (32,778) | (213,851) | |
Common units redeemed as a result of common stock redeemed by Parent Company, net of issuances | (3,920) | (4,365) | (5,030) |
Ending Balance | 6,058,147 | 6,289,961 | 6,450,168 |
Partnership Interest [Member] | Total Stockholders' Equity [Member] | |||
Beginning Balance | 6,249,448 | 6,408,636 | 6,702,959 |
Adjustment due to change in accounting policy (note 1) | 30,901 | ||
Adjusted balance | 6,733,860 | ||
Net income | 45,092 | 240,064 | 249,652 |
Other comprehensive income | |||
Other comprehensive income before reclassifications | (17,668) | (14,419) | 36 |
Amounts reclassified from accumulated other comprehensive income | 11,011 | 3,330 | 5,325 |
Deferred compensation plan, net | (13) | ||
Contributions from partners | 0 | 0 | 0 |
Exchangeable operating partnership units issued for acquisition of real estate | 1,275 | 25,870 | |
Distributions to partners | (404,455) | (393,078) | (378,088) |
Reallocation of limited partners' interest | (66) | ||
Restricted stock issued, net of amortization | 14,248 | 16,254 | 16,745 |
Common units issued as a result of common stock issued by Parent Company, net of issuance costs | 125,608 | ||
Common units repurchased and retired as a result of common stock repurchased and retired by Parent Company | (32,778) | (213,851) | |
Common units redeemed as a result of common stock redeemed by Parent Company, net of issuances | (3,920) | (4,365) | (5,030) |
Ending Balance | 6,020,639 | 6,249,448 | 6,408,636 |
Partnership Interest [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | |||
Beginning Balance | (11,997) | (927) | (6,289) |
Adjustment due to change in accounting policy (note 1) | 12 | ||
Adjusted balance | (6,277) | ||
Net income | 0 | 0 | 0 |
Other comprehensive income | |||
Other comprehensive income before reclassifications | (17,589) | (14,388) | 36 |
Amounts reclassified from accumulated other comprehensive income | 10,961 | 3,318 | 5,314 |
Deferred compensation plan, net | 0 | ||
Contributions from partners | 0 | 0 | 0 |
Exchangeable operating partnership units issued for acquisition of real estate | 0 | 0 | |
Distributions to partners | 0 | 0 | 0 |
Reallocation of limited partners' interest | 0 | ||
Restricted stock issued, net of amortization | 0 | 0 | 0 |
Common units issued as a result of common stock issued by Parent Company, net of issuance costs | 0 | ||
Common units repurchased and retired as a result of common stock repurchased and retired by Parent Company | 0 | 0 | |
Common units redeemed as a result of common stock redeemed by Parent Company, net of issuances | 0 | 0 | 0 |
Ending Balance | (18,625) | (11,997) | (927) |
Partnership Interest [Member] | Noncontrolling Interest [Member] | |||
Beginning Balance | 40,513 | 41,532 | 30,095 |
Adjustment due to change in accounting policy (note 1) | 2 | ||
Adjusted balance | 30,097 | ||
Net income | 2,225 | 3,194 | 2,673 |
Other comprehensive income | |||
Other comprehensive income before reclassifications | (1,199) | (851) | 271 |
Amounts reclassified from accumulated other comprehensive income | 251 | (61) | 17 |
Deferred compensation plan, net | 0 | ||
Contributions from partners | 606 | 2,151 | 13,000 |
Exchangeable operating partnership units issued for acquisition of real estate | 0 | 0 | |
Distributions to partners | (4,888) | (5,518) | (4,526) |
Reallocation of limited partners' interest | 66 | ||
Restricted stock issued, net of amortization | 0 | 0 | 0 |
Common units issued as a result of common stock issued by Parent Company, net of issuance costs | 0 | ||
Common units repurchased and retired as a result of common stock repurchased and retired by Parent Company | 0 | 0 | |
Common units redeemed as a result of common stock redeemed by Parent Company, net of issuances | 0 | 0 | 0 |
Ending Balance | 37,508 | 40,513 | 41,532 |
Partnership Interest [Member] | General Partner [Member] | |||
Beginning Balance | 6,225,345 | 6,398,897 | 6,698,341 |
Adjustment due to change in accounting policy (note 1) | 30,889 | ||
Adjusted balance | 6,729,230 | ||
Net income | 44,889 | 239,430 | 249,127 |
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 | (13) | ||
Contributions from partners | 0 | 0 | 0 |
Exchangeable operating partnership units issued for acquisition of real estate | 0 | 0 | |
Distributions to partners | (402,633) | (392,027) | (377,311) |
Reallocation of limited partners' interest | (66) | ||
Restricted stock issued, net of amortization | 14,248 | 16,254 | 16,745 |
Common units issued as a result of common stock issued by Parent Company, net of issuance costs | 125,608 | ||
Common units repurchased and retired as a result of common stock repurchased and retired by Parent Company | (32,778) | (213,851) | |
Common units redeemed as a result of common stock redeemed by Parent Company, net of issuances | (3,920) | (4,365) | (5,030) |
Ending Balance | 6,003,537 | 6,225,345 | 6,398,897 |
Partnership Interest [Member] | Limited Partner [Member] | |||
Beginning Balance | 36,100 | 10,666 | 10,907 |
Adjustment due to change in accounting policy (note 1) | 0 | ||
Adjusted balance | 10,907 | ||
Net income | 203 | 634 | 525 |
Other comprehensive income | |||
Other comprehensive income before reclassifications | (79) | (31) | 0 |
Amounts reclassified from accumulated other comprehensive income | 50 | 12 | 11 |
Deferred compensation plan, net | 0 | ||
Contributions from partners | 0 | 0 | 0 |
Exchangeable operating partnership units issued for acquisition of real estate | 1,275 | 25,870 | |
Distributions to partners | (1,822) | (1,051) | (777) |
Reallocation of limited partners' interest | 0 | ||
Restricted stock issued, net of amortization | 0 | 0 | 0 |
Common units issued as a result of common stock issued by Parent Company, net of issuance costs | 0 | ||
Common units repurchased and retired as a result of common stock repurchased and retired by Parent Company | 0 | 0 | |
Common units redeemed as a result of common stock redeemed by Parent Company, net of issuances | 0 | 0 | 0 |
Ending Balance | $ 35,727 | $ 36,100 | $ 10,666 |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2020 | |
Organization Consolidation And Presentation Of Financial Statements [Abstract] | |
Summary of Significant Accounting Policies | 1. Su mmary of Significant Accounting Policies (a) Organization and Principles of Consolidation General Regency Centers Corporation (the “Parent Company”) began its operations as a REIT in 1993 and is the general partner of Regency Centers, L.P. (the “Operating Partnership”). The Parent Company primarily engages in the ownership, management, leasing, acquisition, development and redevelopment of shopping centers through the Operating Partnership, has no other assets other than through its investment in the Operating Partnership, and its only liabilities are $200 million of unsecured private placement notes, which are co-issued and guaranteed by the Operating Partnership. The Parent Company guarantees all of the unsecured debt of the Operating Partnership. As of December 31, 2020, the Parent Company, the Operating Partnership, and their controlled subsidiaries on a consolidated basis (the “Company” or “Regency”) owned 297 properties and held partial interests in an additional 114 properties through unconsolidated Investments in real estate partnerships (also referred to as “joint ventures” or “co-investment partnerships”). 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, collectibility of lease income, 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. COVID-19 Pandemic On March 11, 2020, the novel coronavirus disease (“COVID-19”) was declared a pandemic (“COVID-19 pandemic” or the “pandemic”) by the World Health Organization as the disease spread throughout the world. The pandemic continues to evolve, making the broader implications on the Company’s future results of operations and overall financial performance uncertain at this time. While much of the Company’s lease income is derived from contractual rent payments, the tenants’ ability to meet their lease obligations have been negatively impacted by the disruptions and uncertainties of the pandemic. The tenants’ ability to respond to these disruptions, including adapting to governmental orders or recommendations and changes in their customers’ shopping habits and behaviors, will influence the tenants’ ability to survive and ultimately fulfill their lease obligations. While the announcement of vaccine approvals by the U.S. Food and Drug Administration (“FDA”) in early December 2020 was a positive development, at about the same time, several states and many localities reinstituted mandatory business limitations and closures as cases spiked again, in advance of full scale vaccine deployment. Further, forced closures may occur as cases spike or additional strains of the virus emerge, while the speed of vaccine rollout remains uncertain. Due to the pandemic, certain tenants have requested rent concessions or have sought to renegotiate future rents based on changes to the economic environment. Other tenants have chosen not to reopen or honor the terms of their existing lease agreements. In addition, in 2020 we saw a meaningful spike in the number of bankruptcy filings by our tenants versus prior years, which in certain cases can lead to a tenant “rejecting” (terminating) one or more of our leases as permitted by applicable bankruptcy law, or seeking to negotiate reduced rent as part of the bankruptcy reorganization process. The Company is closely monitoring its cash collections from its tenants which significantly declined from historic levels at the start of the pandemic but have since gradually improved. As of February 8, 2021, we experienced sequential improvement in our collection rates of Pro-rata base rent billed by quarter in 2020 as follows: Q2 Q3 Q4 Base Rent Collections 79% 89% 92% Since the pandemic began, the Company has executed approximately 1,600 rent deferral agreements within its consolidated and unconsolidated real estate portfolio. The weighted average deferral period of these agreements is approximately 3.3 months, with repayment periods of approximately 9.7 months beginning in December 2020. The Company expects to continue to work with tenants to address the adverse impacts of the pandemic, which may result in further rent deferrals, concessions or abatements. As a result, there can be no assurance that our base rent collection percentages will continue at or above Q4 2020 levels, or that cash flows from operations will be sufficient to sustain and fund the Company’s dividend payments without the benefit of other sources of capital or changes to its current dividend levels . In the event of a surge in COVID-19 cases or new governmental restrictions causing our tenants to reduce their operations or close, our base rent collection percentages and percent leased could decline from recent 2020 levels. New leasing activity declined in 2020 and is expected to remain below 2019 levels into 2021 as businesses delay executing leases amidst the immediate and uncertain future economic impacts of the pandemic. This, coupled with tenant failures and bankruptcies, may result in decreased demand for space in our centers, which could result in pricing pressure on rents. Additionally, if construction of tenant improvements are delayed due to the impacts of the pandemic, it may take longer before new tenants are able to open and commence rent payments, or attract new tenants. The pandemic has adversely impacted the Company’s ability to start or complete tenant buildouts, new ground up development, or redevelopment of existing properties. The pandemic has also impacted the Company’s ability to timely source materials for construction and has caused labor shortages which have impacted its ability to complete construction projects on anticipated schedules. In the event a surge in new cases resulting in additional lockdowns occurs, similar impacts to the Company’s supply chain may arise which could have a material adverse effect on the Company’s business, financial condition and results of operation. The Company continues to closely monitor its projects, which has resulted in prudently delaying, phasing or curtailing certain in-process and planned development, redevelopment and capital expenditure projects. The duration and severity of the pandemic across the United States will continue to negatively impact many of the Company’s tenants, and their ability to meet their rent obligations under their lease agreements with the Company. As such, the impact from the pandemic could still negatively impact the Company’s results of operations and financial condition in the future. Our business continuity and disaster recovery plan enabled us to continue operating productively during the pandemic. We have maintained, and expect to continue to maintain, without interruption, our financial reporting systems as well as our internal controls over our financial reporting and disclosure controls and procedures. 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 variable interest entities (“VIEs”) and voting interest entities. For joint ventures that are determined to be a VIE, the Company consolidates the entity where it is deemed to be the primary beneficiary. Determination of the primary beneficiary is based on whether an entity has (1) the power to direct the activities of the VIE that most significantly impact the entity’s economic performance, and (2) the obligation to absorb losses of the entity that could potentially be significant to the VIE or the right to receive benefits from the entity that could potentially be significant to the VIE. Ownership of the Parent Company The Parent Company has a single class of common stock outstanding. Ownership of the Operating Partnership The Operating Partnership's capital includes general and limited common Partnership Units. As of December 31, 2020, the Parent Company owned approximately 99.6%, or 169,680,138, of the 170,445,184 outstanding common Partnership Units of the Operating Partnership, with the remaining limited common Partnership Units held by third parties (“Exchangeable operating partnership units” or “EOP units”). Each EOP unit is exchangeable for cash or one share of common stock of the Parent Company, at the discretion of the Parent Company, and the unit holder cannot require redemption in cash or other assets (i.e. registered shares of the Parent). The Parent Company has evaluated the conditions as specified under Accounting Standards Codification (“ASC”) Topic 480, Distinguishing Liabilities from Equity Real Estate Partnerships Regency has a partial ownership interest in 124 properties through partnerships, of which 10 are consolidated. Regency's partners include institutional investors and other real estate developers and/or operators (the “Partners” or “Limited Partners”). 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 and asset management services to the partnerships. The Partners’ level of involvement in these partnerships varies from protective decisions (debt, bankruptcy, selling primary asset(s) of business) to participating involvement such as approving leases, operating budgets, and capital budgets. 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, 2020 December 31, 2019 Assets Net real estate investments (1) $ 127,240 325,464 Cash, cash equivalents, and restricted cash (1) 4,496 57,269 Liabilities Notes payable 6,340 17,740 Equity Limited partners’ interests in consolidated partnerships 28,685 30,655 (1) Included in the December 31, 2019 balances were real estate assets and cash held in Section 1031 like-kind exchanges, of which none remained at December 31, 2020. 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. 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 partnership agreements, 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 stated increases over the term of the lease. Some of the lease agreements contain provisions that provide for additional rents based on tenants' sales volume ( “ percentage rent ” ) , which are recognized when the tenants achieve the specified targets as defined in their lease agreements. Additionally, most lease agreements contain provisions for reimbursement of the tenants' share of actual real estate taxes, 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 Space”). 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, allowing it to 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, Leases Classification Under Topic Recognition and Presentation CAM is a non-lease component of the lease contract under Topic 842, and therefore recognition for these CAM expenses would be accounted for under Topic 606, Revenue from Contracts with Customers Collectibility 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 of substantially all payments due under the lease is probable due to the Company’s credit checks on tenants and other creditworthiness analysis undertaken before entering into a new lease; therefore, income from most operating leases is initially recognized on a straight-line basis. For operating leases in which collectibility of Lease income is not considered probable, Lease income is recognized on a cash basis and all previously recognized straight-line rent receivables are reversed in the period in which the Lease income is determined not to be probable of collection. In addition to the lease-specific collectibility assessment performed under Topic 842, the Company may also recognize a general reserve, as a reduction to Lease income, for its portfolio of operating lease receivables which are not expected to be fully collectible based on the Company’s historical collection experience. The Company estimates the collectibility of the accounts receivable related to base rents, straight-line rents, recoveries from tenants, and other revenue taking into consideration the Company's historical write-off experience, tenant credit-worthiness, current economic trends, and remaining lease terms. 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 in Other operating expenses, while uncollectible straight line rent was recorded as a charge to Lease income. COVID-19 Pandemic and Rent Concessions During 2020, in response to the pandemic and the resulting entry into agreements for rent concessions between tenants and landlords, the FASB issued interpretive guidance relating to the accounting for lease concessions provided as a result of COVID-19. In this guidance, entities could elect not to apply lease modification accounting with respect to such lease concessions, and instead, treat the concession as if it was a part of the existing contract. This guidance is only applicable to COVID-19 related lease concessions that do not result in a substantial increase in the right of the lessor or the obligations of the lessee. The Company has elected to treat concessions that satisfy this criteria as though the concession was part of the existing contract and therefore not treated like a lease modification. Since the pandemic began, the Company has executed approximately 1,600 rent deferral agreements representing $40.8 million of rent or 4.6% of Pro-rata annual base rent, within its consolidated and unconsolidated real estate portfolio. The weighted average deferral period of these agreements is approximately 3.3 months, with repayment periods of approximately 9.7 months beginning in December 2020. The Company will continue to negotiate with some tenants, which may result in further rent concessions as determined necessary and appropriate. Collectibility assessment of these concessions generally includes consideration of the tenants’ business performance, ability to sustain their business in the current environment, as well as an assessment of their credit worthiness and ability to repay such amounts in the future. The following table represents the components of Tenant and other receivables, net of amounts considered uncollectible, in the accompanying Consolidated Balance Sheets: December 31, (in thousands) 2020 2019 Tenant receivables $ 39,658 35,526 Straight-line rent receivables 86,615 107,087 Other receivables (1) 17,360 26,724 Total tenant and other receivables, net $ 143,633 169,337 ( 1 ) Other receivables include construction receivables, insurance receivables, and amounts due from real estate partnerships for Management, transaction and other fee income. Real Estate Sales The Company accounts for sales of nonfinancial assets under Subtopic 610-20, whereby the Company derecognizes real estate and recognizes a gain or loss on sales when a contract exists and control of the property has transferred to the buyer. Control of the property, including controlling financial interest, is generally considered to transfer upon closing through transfer of the legal title and possession of the property. Any retained noncontrolling interest is measured at fair value at that time. The adoption this Subtopic 610-20 on January 1, 2018, resulted in the recognition, through opening retained Management Services and Other Property Income The Company recognizes revenue under Topic 606, Revenue from Contracts with Customers, Property and Asset Management Services The Company is engaged under agreements with its joint venture partnerships, which are generally perpetual in nature and cancellable through unanimous partner approval, absent an event of default. Under these agreements, the Company is to provide asset and property management and leasing services for the joint ventures' shopping centers. The fees are market-based, generally calculated as a percentage of either revenues earned or the estimated values of the properties managed or the proceeds received, and are recognized over the monthly or quarterly periods as services are rendered. Property management and asset management services represent a series of distinct daily services. Accordingly, the Company satisfies its performance obligation as service is rendered each day and the variability associated with that compensation is resolved each day. Amounts due from the partnerships for such services are paid during the month following the monthly or quarterly service periods. Several of the Company’s partnership agreements provide for incentive payments, generally referred to as “promotes” or “earnouts,” to Regency for appreciation in property values in Regency's capacity as manager. The terms of these promotes are based on appreciation in real estate value over designated time intervals or upon designated events . The Company evaluates its expected promote payout at each reporting period, which generally does not result in revenue recognition until the measurement period has completed, when the amount can be reasonably determined and the amount is not probable of significant reversal. The Company did not recognize any promote revenue during the years ended December 31, 2020 , 2019 , or 2018 . 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 within the Consolidated Balance Sheets. Other Property Income Other property income includes parking fee and other incidental income from the properties and is generally recognized at the point in time that the performance obligation is met. All income from contracts with the Company’s real estate partnerships is included within Management, transaction and other fees on the Consolidated Statements of Operations. The primary components of these revenue streams, the timing of satisfying the performance obligations, and amounts are as follows: Year ended December 31, (in thousands) Timing of satisfaction of performance obligations 2020 2019 2018 Management, transaction, and other fees: Property management services Over time $ 14,444 14,744 14,663 Asset management services Over time 6,963 7,135 7,213 Leasing services Point in time 3,150 3,692 4,044 Other transaction fees Point in time 1,944 4,065 2,574 Total management, transaction, and other fees $ 26,501 29,636 28,494 The accounts receivable for management services, which are included within Tenant and other receivables in the accompanying Consolidated Balance Sheets, are $9.9 million and $11.6 million, as of December 31, 2020 and 2019, respectively. (c) Real Estate Investments The following table details the components of Real estate assets in the Consolidated Balance Sheets: (in thousands) December 31, 2020 December 31, 2019 Land $ 4,230,989 $ 4,288,695 Land improvements 630,264 607,624 Buildings 5,083,660 5,101,061 Building and tenant improvements 997,704 946,034 Construction in progress 159,241 151,880 Total real estate assets $ 11,101,858 11,095,294 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. 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, 2020 and 2019, the Company had nonrefundable deposits and other pre development costs of approximately $25.3 million and $17.7 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, 2020, 2019, and 2018, the Company expensed pre-development costs of approximately $10.5 million, $2.5 million, and $1.9 million, respectively, in Other operating expenses in the accompanying Consolidated Statements of Operations. Interest costs are capitalized into each development and redevelopment project based upon applying the Company's weighted average borrowing rate to that portion of the actual development or redevelopment costs 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. During the years ended December 31, 2020, 2019, and 2018, the Company capitalized interest of $4.4 million, $4.2 million, and $7.0 million, respectively, on our development and redevelopment projects. We have a staff of employees directly supporting our development and redevelopment program. All direct internal costs attributable to these development activities are capitalized as part of each development and redevelopment project. The capitalization of costs is directly related to the actual level of development activity occurring. During the years ended December 31, 2020, 2019, and 2018, we capitalized $10.2 million, $20.4 million, and $17.1 million, respectively, of direct internal costs incurred to support our development and redevelopment program. Acquisitions The Company generally accounts for operating property acquisitions as asset acquisitions. The Company capitalizes transaction costs associated with asset acquisitions and expenses transaction costs associated with business combinations. Both asset acquisitions and business combinations require that the Company recognize and measure the identifiable assets acquired, the liabilities assumed, and any noncontrolling interest in the operating property acquired (“acquiree”). 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 |
Real Estate Investments
Real Estate Investments | 12 Months Ended |
Dec. 31, 2020 | |
Business Combinations [Abstract] | |
Real Estate Investments | 2. Acquisitions The following tables detail consolidated shopping centers acquired or land acquired for development or redevelopment for the periods set forth below: (in thousands) December 31, 2020 Date Purchased Property Name City/State Property Type Ownership Purchase Price Debt Assumed, Net of Premiums Intangible Assets Intangible Liabilities 1/1/20 Country Walk Plaza (1) Miami, FL Operating 100% $ 39,625 16,359 3,294 2,452 (1) The purchase price presented above reflects the purchase price for 100% of the property, of which the Company previously owned a 30% equity interest prior to acquiring the other partner’s interest and gaining control (in thousands) December 31, 2019 Date Purchased Property Name City/State Property Type Ownership Purchase Price Debt Assumed, Net of Premiums Intangible Assets Intangible Liabilities 1/8/19 Pablo Plaza (1) Jacksonville, FL Operating 100% $ 600 — — — 2/8/19 Melrose Market Seattle, WA Operating 100% 15,515 — 941 358 6/18/19 The Field at Commonwealth Ph II (2) Chantilly, VA Development 100% 4,083 — — — 6/21/19 Culver Public Market Culver City, CA Development 100% 1,279 — — — 6/28/19 6401 Roosevelt Seattle, WA Operating 100% 3,550 — — — 7/1/19 The Pruneyard Campbell, CA Operating 100% 212,500 — 16,991 5,833 9/17/19 Circle Marina Center Long Beach, CA Operating 100% 50,000 — 3,717 962 Total property acquisitions $ 287,527 — 21,649 7,153 (1) The Company purchased (2) The Company purchased The Field at Commonwealth Ph II, which is land adjacent to an existing operating property, for future development |
Property Dispositions
Property Dispositions | 12 Months Ended |
Dec. 31, 2020 | |
Discontinued Operations And Disposal Groups [Abstract] | |
Property Dispositions | 3. Property Dispositions Dispositions The following table provides a summary of consolidated shopping centers and consolidated land parcels disposed of during the periods set forth below: Year ended December 31, (in thousands, except number sold data) 2020 2019 2018 Net proceeds from sale of real estate investments $ 189,444 (1) 137,572 250,445 Gain on sale of real estate, net of tax $ 67,465 24,242 28,343 Provision for impairment of real estate sold $ 958 1,836 31,041 Number of operating properties sold 6 7 10 Number of land parcels sold 11 6 9 Percent interest sold 50% - 100% 100 % 100 % ( 1 ) Includes proceeds from repayment of a short-term note on the sale of one of the properties, issued at closing and repaid during the same three months ended March 31, 2020. At December 31, 2020, the Company also had two properties classified within Properties held for sale on the Consolidated Balance Sheets. |
Investments in Real Estate Part
Investments in Real Estate Partnerships | 12 Months Ended |
Dec. 31, 2020 | |
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, 2020 (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% 67 $ 179,728 1,583,097 25,425 56,244 New York Common Retirement Fund (NYC) (1) 30.00% 4 27,627 205,332 488 4,241 Columbia Regency Retail Partners, LLC (Columbia I) 20.00% 7 8,699 136,120 1,030 5,383 Columbia Regency Partners II, LLC (Columbia II) 20.00% 13 37,882 377,246 1,045 5,103 Cameron Village, LLC (Cameron) 30.00% 1 10,108 94,551 757 2,531 RegCal, LLC (RegCal) 25.00% 6 25,908 107,283 1,296 5,397 US Regency Retail I, LLC (USAA) (2) 20.01% 7 — 85,006 790 3,948 Other investments in real estate partnerships (3) 35.00% - 50.00% 9 177,203 478,592 3,338 8,574 Total investments in real estate partnerships 114 $ 467,155 3,067,227 34,169 91,421 (1) On January 1, 2020, the Company purchased the remaining 70% of a property owned by the NYC partnership (Country Walk Plaza), as discussed in note 2, and therefore all earnings of this property are included in consolidated results from the date of acquisition and excluded from partnership earnings. ( 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 $4.4 million, which is recorded within Accounts Payable and other liabilities in the Consolidated Balance Sheets. (3 ) In January 2020, the Company purchased an additional 16.62% interest in Town and Country Shopping Center, bringing its total ownership interest to 35%. 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. The summarized balance sheet information for the investments in real estate partnerships, on a combined basis, is as follows: December 31, (in thousands) 2020 2019 Investments in real estate, net $ 2,817,713 2,917,415 Acquired lease intangible assets, net 32,607 40,549 Other assets 216,907 200,920 Total assets $ 3,067,227 3,158,884 Notes payable $ 1,557,043 1,577,467 Acquired lease intangible liabilities, net 33,223 44,387 Other liabilities 97,321 96,388 Capital - Regency 509,873 508,875 Capital - Third parties 869,767 931,767 Total liabilities and capital $ 3,067,227 3,158,884 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) 2020 2019 Capital - Regency $ 509,873 508,875 Basis difference (47,119 ) (43,296 ) Negative investment in USAA (1) 4,401 3,943 Investments in real estate partnerships $ 467,155 469,522 (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) 2020 2019 2018 Total revenues $ 381,094 417,053 414,631 Operating expenses: Depreciation and amortization 101,590 97,844 99,847 Operating and maintenance 65,146 65,811 66,299 General and administrative 5,870 6,201 5,697 Real estate taxes 53,747 53,410 54,119 Other operating expenses 3,126 2,709 2,700 Total operating expenses $ 229,479 225,975 228,662 Other expense (income): Interest expense, net 66,786 75,449 73,508 Gain on sale of real estate (7,146 ) (64,798 ) (16,624 ) Early extinguishment of debt 554 — — Provision for impairment, net of tax — 9,223 — Total other expense (income) 60,194 19,874 56,884 Net income of the Partnerships $ 91,421 171,204 129,085 The Company's share of net income of the Partnerships $ 34,169 60,956 42,974 Acquisitions The following table provides a summary of shopping centers and land parcels acquired through our unconsolidated real estate partnerships during 2020, which had no such acquisitions in 2019: (in thousands) Year ended December 31, 2020 Date Purchased Property Name City/State Property Type Co-investment Partner Ownership % Purchase Price Debt Assumed, Net of Premiums Intangible Assets Intangible Liabilities 11/13/20 Eastfield at Baybrook Houston, TX Development Other 50.00% $ 4,491 — — — 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) 2020 2019 2018 Proceeds from sale of real estate investments $ 27,974 142,754 27,144 Gain on sale of real estate $ 7,147 64,798 16,624 The Company's share of gain on sale of real estate $ 2,413 29,422 3,608 Number of operating properties sold 2 4 1 Number of land out-parcels sold — — 2 Notes Payable Scheduled principal repayments on notes payable held by our unconsolidated investments in real estate partnerships as of December 31, 2020, 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 2021 $ 11,257 333,068 15,635 359,960 124,100 2022 7,736 254,873 — 262,609 97,465 2023 3,196 171,608 — 174,804 65,137 2024 1,796 33,690 — 35,486 14,217 2025 2,168 146,000 — 148,168 44,853 Beyond 5 Years 10,859 574,321 — 585,180 191,940 Net unamortized loan costs, debt premium / (discount) — (9,164 ) — (9,164 ) (3,054 ) Total notes payable $ 37,012 1,504,396 15,635 1,557,043 534,658 These fixed and variable rate loans are all non-recourse to the partnerships, and mature through 2034, with 91.5% having a weighted average fixed interest rate of 4.1%. The remaining notes payable float over LIBOR and had a weighted average variable interest rate of 2.4% at December 31, 2020. 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) 2020 2019 2018 Asset management, property management, leasing, and investment and financing services $ 26,618 28,878 27,873 |
Other Assets
Other Assets | 12 Months Ended |
Dec. 31, 2020 | |
Other Assets [Abstract] | |
Other Assets | 5. Other Assets The following table represents the components of Other assets in the accompanying Consolidated Balance Sheets: (in thousands) December 31, 2020 December 31, 2019 Goodwill $ 173,868 307,434 Investments 60,692 50,354 Prepaid and other 17,802 18,169 Derivative assets — 2,987 Furniture, fixtures, and equipment, net 6,560 7,098 Deferred financing costs, net 2,524 4,687 Total other assets $ 261,446 390,729 The following table presents the goodwill balances and activity during the year to date periods ended: December 31, 2020 December 31, 2019 (in thousands) Goodwill Accumulated Impairment Losses Total Goodwill Accumulated Impairment Losses Total Beginning of year balance $ 310,388 (2,954 ) 307,434 316,858 (2,715 ) 314,143 Goodwill allocated to Provision for impairment — (132,179 ) (132,179 ) — (2,954 ) (2,954 ) Goodwill allocated to Properties held for sale (1,191 ) 1,191 — (2,472 ) — (2,472 ) Goodwill associated with disposed reporting units: — — Goodwill allocated to Provision for impairment — — — (1,779 ) 1,779 — Goodwill allocated to Gain on sale of real estate (1,784 ) 397 (1,387 ) (2,219 ) 936 (1,283 ) End of year balance $ 307,413 (133,545 ) 173,868 310,388 (2,954 ) 307,434 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. During the three months ended March 31, 2020, the Company recognized $132.2 million of Goodwill impairment. The market disruptions related to the significant economic impacts of the pandemic triggered evaluation of reporting unit fair values for goodwill impairment. The Company’s reporting units are at the individual property level. The carrying value of long-lived assets within each of the reporting units were first tested for recoverability with no resulting impairments. Next, the fair value of each reporting unit was compared to its carrying value, including goodwill. Of the 269 reporting units with goodwill, 87 of those were determined to have fair values lower than carrying value. As such, goodwill impairment losses totaling $132.2 million were recognized for the amount that the carrying amount of the reporting unit, including goodwill, exceeded its fair value, limited to the total amount of goodwill allocated to that reporting unit. Fair values of the reporting units were determined using a discounted cash flow approach, including then current market cash flow assumptions for impacts to existing tenant contractual rent as well as prospective future rent and percent leased changes and related capital and operating expenditures. The cap rates and discount rates used in the analysis reflect management’s best estimate of market rates adjusted for the current environment. No additional Goodwill impairments were recognized after March 31, 2020, including as a result of the Company’s annual goodwill impairment evaluation in November 2020. |
Acquired Lease Intangibles
Acquired Lease Intangibles | 12 Months Ended |
Dec. 31, 2020 | |
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) 2020 2019 In-place leases $ 414,298 $ 438,188 Above-market leases 59,381 63,944 Total intangible assets 473,679 502,132 Accumulated amortization (284,880 ) (259,310 ) Acquired lease intangible assets, net $ 188,799 242,822 Below-market leases 523,678 558,936 Accumulated amortization (145,966 ) (131,676 ) Acquired lease intangible liabilities, net $ 377,712 427,260 The following table provides a summary of amortization and net accretion amounts from acquired lease intangibles: Year ended December 31, (in thousands) 2020 2019 2018 Line item in Consolidated Statements of Operations In-place lease amortization $ 48,297 60,250 76,649 Depreciation and amortization Above-market lease amortization 7,658 9,112 10,433 Lease income Below-market ground lease amortization (1) — — 1,688 Operating and maintenance Acquired lease intangible asset amortization $ 55,955 69,362 88,770 Below-market lease amortization $ 50,103 54,730 45,561 Lease income Above-market ground lease amortization (1) — — 94 Operating and maintenance Acquired lease intangible liability amortization $ 50,103 54,730 45,655 (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 2021 $ 31,120 $ 24,237 2022 24,137 22,265 2023 19,580 21,183 2024 15,364 19,122 2025 12,604 18,540 |
Leases
Leases | 12 Months Ended |
Dec. 31, 2020 | |
Leases [Abstract] | |
Lessor, Operating Leases | 7. Leases Lessor Accounting All of the Company’s leases are classified as operating leases. The Company's Lease income is comprised of both fixed and variable income. Fixed and in-substance fixed lease income includes stated amounts per 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 as either fixed or variable lease income based on the criteria specified in ASC Topic 842: (in thousands) December 31, 2020 December 31, 2019 Operating lease income Fixed and in-substance fixed lease income $ 807,603 813,444 Variable lease income 247,384 247,861 Other lease related income, net: Above/below market rent and tenant rent inducement amortization, net 42,219 45,392 Uncollectible straight line rent (34,673 ) (7,002 ) Uncollectible amounts billable in lease income (82,367 ) (5,394 ) Total lease income $ 980,166 1,094,301 During the year ended December 31, 2020, the Company experienced a higher rate of uncollectible lease income driven by changes in expectations of collectibility of both past due rents and recoveries and future rent steps given the impact of the pandemic on our tenants. 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, 2020 2021 $ 754,396 2022 676,083 2023 578,023 2024 480,768 2025 372,377 Thereafter 1,329,274 Total $ 4,190,921 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, 2020 December 31, 2019 Fixed operating lease expense Ground leases $ 13,716 13,982 Office leases 4,334 4,229 Total fixed operating lease expense 18,050 18,211 Variable lease expense Ground leases 1,044 1,693 Office leases 585 552 Total variable lease expense 1,629 2,245 Total lease expense $ 19,679 20,456 Cash paid for amounts included in the measurement of operating lease liabilities Operating cash flows for operating leases $ 15,003 14,815 Operating lease expense under the Company's ground and office leases was $19.7 million, $20.5 million and $19.1 million for the years ended December 31, 2020, 2019, and 2018 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, 2020, 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 2021 $ 10,778 4,654 15,432 2022 10,837 3,379 14,216 2023 11,054 2,580 13,634 2024 11,103 2,114 13,217 2025 11,106 1,961 13,067 Thereafter 542,184 2,777 544,961 Total undiscounted lease liabilities $ 597,062 17,465 614,527 Present value discount (392,848 ) (1,289 ) (394,137 ) Lease liabilities $ 204,214 16,176 220,390 Weighted average discount rate 5.2 % 3.8 % Weighted average remaining term (in years) 48.1 5.0 |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2020 | |
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) 2020 2019 2018 Dividend per share $ 2.19 (1) 2.34 2.22 Ordinary income 100 % 97 % 98 % Capital gain — % 3 % — % Qualified dividend income — % — % 2 % Section 199A dividend 100 % 97 % 98 % (1) Our consolidated expense (benefit) for income taxes for the years ended December 31, 2020, 2019, and 2018 was as follows: Year ended December 31, (in thousands) 2020 2019 2018 Income tax expense (benefit): Current $ 2,157 1,576 5,667 Deferred (891 ) (331 ) (5,145 ) Total income tax expense (benefit) (1) $ 1,266 1,245 522 (1) Includes $(355,000), $757,000 and $706,000 of tax (benefit) expense presented within Other operating expenses during the years ended December 31, 2020, 2019, and 2018, respectively. Additionally, $1.6 million, $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, 2020, 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) 2020 2019 2018 Computed expected tax (benefit) expense $ (3,665 ) 1,587 (584 ) State income tax, net of federal benefit (593 ) 650 636 Valuation allowance 1,043 (91 ) (392 ) Permanent items 5,079 (819 ) 1,067 All other items (598 ) (82 ) (205 ) Total income tax expense (1) 1,266 1,245 522 Income tax expense attributable to operations (1) $ 1,266 1,245 522 (1) Includes ( 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) 2020 2019 Deferred tax assets Provision for impairment $ 508 — Deferred interest expense — 1,341 Fixed assets 1,077 — Net operating loss carryforward 109 106 Other 771 88 Deferred tax assets 2,465 1,535 Valuation allowance (2,465 ) (680 ) Deferred tax assets, net $ — 855 Deferred tax liabilities Straight line rent $ (88 ) (100 ) Fixed assets (12,943 ) (14,404 ) Deferred tax liabilities (13,031 ) (14,504 ) Net deferred tax liabilities $ (13,031 ) (13,649 ) The net deferred tax liability decreased during 2020 due to sales and depreciation of properties at TRS entities. The Company believes it is more likely than not that the remaining deferred tax assets will not be realized unless tax planning strategies are implemented. |
Notes Payable and Unsecured Cre
Notes Payable and Unsecured Credit Facilities | 12 Months Ended |
Dec. 31, 2020 | |
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) 2020 2019 Notes payable: Fixed rate mortgage loans 10/1/2036 4.3% 4.0% $ 272,749 $ 342,020 Variable rate mortgage loans (1) 6/2/2027 2.8% 2.9% 146,046 148,389 Fixed rate unsecured public and private debt 3/15/2049 3.8% 4.0% 3,239,609 2,944,752 Total notes payable $ 3,658,404 3,435,161 Unsecured credit facilities: Line of Credit (2) 3/23/2022 1.0% 1.4% $ — $ 220,000 Term Loan (3) 1/5/2022 2.0% 2.1% 264,680 264,383 Total unsecured credit facilities $ 264,680 484,383 Total debt outstanding $ 3,923,084 3,919,544 (1) Includes six mortgages with interest rates that vary on LIBOR based formulas. Four of these variable rate loans have interest rate swaps in place to fix the interest rates. The effective fixed rates of the loans range from 2.5% to 4.1%. (2) Weighted average effective rate for the Line is calculated based on a fully drawn Line balance. During February 2021, the Company amended its Line agreement to extend the maturity to March 23, 2025 retaining the same overall borrowing capacity of $1.25 billion and credit-based interest rate spread over LIBOR currently equal to 0.875%. ( 3 ) In January 2021, the Company repaid in full the $265 million Term Loan, using cash on hand. Notes Payable Notes payable consist of mortgage loans secured by properties and unsecured public and private debt. Mortgage loans may be repaid before maturity, but could be subject to yield maintenance premiums, and are generally due in monthly installments of principal and interest or interest only. Unsecured public debt may be repaid before maturity subject to accrued and unpaid interest through the proposed redemption date and a make-whole premium. Interest on unsecured public and private debt is payable semi-annually. The Company is required to comply with certain financial covenants for its unsecured public debt as defined in the indenture agreements such as the following ratios: Consolidated Debt to Consolidated Assets, Consolidated Secured Debt to Consolidated Assets, Consolidated Income for Debt Service to Consolidated Debt Service, and Unencumbered Consolidated Assets to Unsecured Consolidated Debt. As of December 31, 2020, management of the Company believes it is in compliance with all financial covenants for its unsecured public debt. Unsecured Credit Facilities At December 31, 2020, the Company had 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. At December 31, 2020, the Line had a borrowing capacity of $1.25 billion, which is reduced by the balance of outstanding borrowings and commitments from issued letters of credit. The Line bears interest at a variable rate of 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. On February 9, 2021, the Company entered into an Amended and Restated Credit Agreement, which among other items, i) retains a borrowing capacity of $ 1.25 billion, ii) includes a $125 million sublimit for swingline loans and $50 million available for issuance of letters of credits, iii) extends the maturity date to March 23, 2025 and iv) includes an option to extend the maturity date for two six-month periods. The existing financial covenants under the Line remained unchanged. 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. During January 2021, the Company repaid in full the $265 million Term Loan, and settled its related interest rate swap, as discussed 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 fin ancing. As of December 31, 2020 , t he Company is in compliance with all financial covenants for the Line and Term Loan. Scheduled principal payments and maturities on notes payable and unsecured credit facilities were as follows: (in thousands) December 31, 2020 Scheduled Principal Payments and Maturities by Year: Scheduled Principal Payments Mortgage Loan Maturities Unsecured Maturities (1) Total 2021 $ 11,598 $ 31,562 $ — 43,160 2022 11,797 5,848 265,000 (2) 282,645 2023 10,124 65,724 — 75,848 2024 5,301 90,744 250,000 346,045 2025 4,207 40,000 250,000 294,207 Beyond 5 Years 17,505 121,303 2,775,000 2,913,808 Unamortized debt premium/(discount) and issuance costs — 3,082 (35,711 ) (32,629 ) Total notes payable $ 60,532 358,263 3,504,289 3,923,084 (1) Includes unsecured public and private debt and unsecured credit facilities. ( 2 ) In January 2021, the Company repaid in full the $265 million Term Loan. The Company has $31.6 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, 2020 | |
Derivative Instruments And Hedging Activities Disclosure [Abstract] | |
Derivative Financial Instruments | 10 . Derivative Financial Instruments The Company may use derivative financial instruments, including interest rate swaps, caps, options, floors, and other interest rate derivative contracts, to hedge all or a portion of the interest rate risk associated with its borrowings. The principal objective of such arrangements is to minimize the risks and/or costs associated with the Company’s operating and financial structure as well as to hedge specific anticipated transactions. The Company does not intend to utilize derivatives for speculative or other purposes other than interest rate risk management. The use of derivative financial instruments carries certain risks, including the risk that the counterparties to these contractual arrangements are not able to perform under the agreements. To mitigate this risk, the Company only enters into derivative financial instruments with counterparties with high credit ratings. The Company does not anticipate that any of the counterparties will fail to meet their obligations. The Company’s objectives in using interest rate derivatives are to add stability to interest expense and to manage its exposure to interest rate movements. To accomplish this objective, the Company primarily uses interest rate swaps as part of its interest rate risk management strategy. Interest rate swaps designated as cash flow hedges involve the receipt of variable-rate amounts from a counterparty in exchange for the Company making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. The following table summarizes the terms and fair values of the Company's derivative financial instruments, as well as their classification on the Consolidated Balance Sheets: Fair Value at December 31, (in thousands) Assets (Liabilities) (1) Effective Date Maturity Date Notional Amount Bank Pays Variable Rate of Regency Pays Fixed Rate of 2020 2019 8/1/16 1/5/22 (2) $ 265,000 1 Month LIBOR with Floor 1.053 % $ (2,472 ) 2,674 4/7/16 4/1/23 19,405 1 Month LIBOR 1.303 % (494 ) 148 12/1/16 11/1/23 32,369 1 Month LIBOR 1.490 % (1,181 ) 84 9/17/19 3/17/25 24,000 1 Month LIBOR 1.542 % (1,288 ) 81 6/2/17 6/2/27 36,592 1 Month LIBOR with Floor 2.366 % (3,856 ) (1,515 ) Total derivative financial instruments $ (9,291 ) 1,472 (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 ) In January 2021, the Company early settled the $265 million interest rate swap in connection with its repayment of the Term Loan. 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, 2020, does not have any derivatives that are not designated as hedges. The changes in the fair value of derivatives designated and qualifying as cash flow hedges are recorded in Accumulated other comprehensive income (loss) (“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) 2020 2019 2018 2020 2019 2018 2020 2019 2018 Interest rate swaps $ (19,187 ) (15,585 ) 402 Interest expense, net $ 8,790 3,269 5,342 Interest expense, net $ 156,678 151,264 148,456 Early extinguishment of debt (1) $ 2,472 — — Early extinguishment of debt $ 21,837 11,982 11,172 (1) At December 31, 2020, based on intent to repay the Term Loan in January 2021, the Company recognized the Accumulated other comprehensive loss for the Term Loan swap in earnings within Early extinguishment of debt. As of December 31, 2020, the Company expects approximately $3.7 million of accumulated comprehensive 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. |
Fair Value Measurements
Fair Value Measurements | 12 Months Ended |
Dec. 31, 2020 | |
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, 2020 2019 (in thousands) Carrying Amount Fair Value Carrying Amount Fair Value Financial liabilities: Notes payable $ 3,658,405 4,102,382 $ 3,435,161 3,688,604 Unsecured credit facilities $ 264,679 265,226 $ 484,383 489,496 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, 2020 and 2019, respectively. 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 ($3.0) million, ($3.8) million, and $3.3 million for the years ended December 31, 2020, 2019, and 2018, 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 tables present the placement in the fair value hierarchy of assets and liabilities that are measured at fair value on a recurring basis: Fair Value Measurements as of December 31, 2020 (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 $ 44,986 44,986 — — Available-for-sale debt securities 15,706 — 15,706 — Total $ 60,692 44,986 15,706 — Liabilities: Interest rate derivatives $ (9,291 ) — (9,291 ) — 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 ) — 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, 2020 (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 $ 25,000 — 25,000 — (17,532 ) 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 ) During the years ended December 31, 2020 and 2019, the Company recorded Provision for impairment of $17.5 million and $40.3 million, respectively, on one operating property which is classified as held and used. The property, which is located in the Manhattan market of New York City, was impaired during 2019 as a result of a fair value analysis performed based on lease up expectations after its single retail tenant declared bankruptcy. As the pandemic continued to impact the leasing market, limiting visibility for replacement prospects for this property, the hold period probabilities shifted triggering further evaluation of the current fair value resulting in the additional impairment charge during the fourth quarter of 2020. The 2019 fair value 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 fair value of the property, which is considered a Level 3 input per the fair value hierarchy. The 2020 fair value was based on third-party offers for the property and is reflected in the above Level 2 fair value hierarchy. During the year ended December 31, 2019, the Company also recorded a $10.2 million Provision for impairment on one operating property which was classified as held and used and resulted in a fair value of $28.1 million. That operating property is classified as held for sale at December 31, 2020. The property was remeasured to fair value based on its expected selling price and is reflected in the above Level 2 fair value hierarchy. |
Equity and Capital
Equity and Capital | 12 Months Ended |
Dec. 31, 2020 | |
Equity And Capital [Abstract] | |
Equity and Capital | 1 2 . Equity and Capital Common Stock 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. There were no shares issued under the ATM equity program during the year ended December 31, 2020. As of December 31, 2020, all $500 million of common stock authorized under the ATM program remained available for issuance. Under a previous ATM equity program which expired on March 31, 2020, the Company sold shares through forward sale agreements, which the Company settled during March 2020. At settlement, the Company issued 1,894,845 shares of its common stock, receiving $125.8 million of net proceeds which were used for working capital and general corporate purposes. Share Repurchase Program On February 4, 2020, the Company's Board authorized a 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 or in privately negotiated transactions. Any shares purchased, if not retired, will be treated as treasury shares. The program is set to expire on February 5, 2021, but may be modified at the discretion of the Board. The timing and actual number of shares purchased under the program depend upon marketplace conditions, liquidity needs, and other factors. Through December 31, 2020, no shares have been repurchased under this program. On February 3, 2021, 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 its outstanding common stock through open market purchases or in privately negotiated transactions. Any shares purchased, if not retired, will be treated as treasury shares. This new program is set to expire on February 3, 2023. 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 January 2020, the Operating Partnership issued 18,613 exchangeable operating partnership units, valued at $1.3 million, as partial purchase price consideration for the acquisition of an additional 16.62% interest in an operating shopping center. General Partners The Parent Company, as general partner, owned the following Partnership Units outstanding: December 31, (in thousands) 2020 2019 Partnership units owned by the general partner 169,680 167,571 Partnership units owned by the limited partners 765 746 Total partnership units outstanding 170,445 168,317 Percentage of partnership units owned by the general partner 99.6 % 99.6 % |
Stock-Based Compensation
Stock-Based Compensation | 12 Months Ended |
Dec. 31, 2020 | |
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) 2020 2019 2018 Restricted stock (1) $ 14,248 16,254 16,745 Directors' fees paid in common stock 452 410 399 Capitalized stock-based compensation (2) (1,119 ) (2,325 ) (3,509 ) Stock-based compensation, net of capitalization $ 13,581 14,339 13,635 (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, 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 5.4 million shares in the form of the Parent Company's common stock or stock options. As of December 31, 2020, there were 4.7 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, 2020 Number of Shares Intrinsic Value (in thousands) Weighted Average Grant Price Non-vested as of December 31, 2019 623,090 Time-based awards granted (1) (4) 144,497 $ 57.17 Performance-based awards granted (2) (4) 8,898 $ 62.04 Market-based awards granted (3) (4) 109,030 $ 73.54 Change in market-based awards earned for performance (3) 22,906 $ 62.39 Vested (5) (244,694 ) $ 58.94 Forfeited (44,792 ) $ 63.45 Non-vested as of December 31, 2020 (6) 618,935 $ 28,217 (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, 2020 2019 2018 Volatility 18.50 % 19.30 % 19.20 % Risk free interest rate 1.30 % 2.43 % 2.26 % (4) The weighted-average grant price for restricted stock granted during the years is summarized below: Year ended December 31, 2020 2019 2018 Weighted-average grant price for restricted stock $ 64.14 $ 65.11 $ 63.50 (5) Year ended December 31, 2020 2019 2018 Intrinsic value of restricted stock vested $ 14,423 $ 17,684 $ 17,306 (6) As of December 31, 2020, 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, 2020 | |
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, 2020. 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, $3.5 million, and $3.9 million for the years ended December 31, 2020, 2019, and 2018, 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) 2020 2019 Location in Consolidated Balance Sheets Assets: Securities $ 40,964 36,849 Other assets Liabilities: Deferred compensation obligation $ 40,962 36,755 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, 2020 | |
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) 2020 2019 2018 Numerator: Income attributable to common stockholders - basic $ 44,889 $ 239,430 249,127 Income attributable to common stockholders - diluted $ 44,889 $ 239,430 249,127 Denominator: Weighted average common shares outstanding for basic EPS 169,231 167,526 169,724 Weighted average common shares outstanding for diluted EPS (1) (2) 169,460 167,771 170,100 Income per common share – basic $ 0.27 $ 1.43 1.47 Income per common share – diluted $ 0.26 $ 1.43 1.46 (1) Includes the dilutive impact of unvested restricted stock. (2) Using the treasury stock method, 2019 weighted average common shares outstanding for basic and diluted earnings per share exclude 1.9 million shares issuable under the forward ATM equity offering as they would be anti-dilutive. These shares are included in 2020 weighted average common shares outstanding as they were settled in March 2020. 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, 2020, 2019, and 2018, were 765,046, 464,286, and 349,902, 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) 2020 2019 2018 Numerator: Income attributable to common unit holders - basic $ 45,092 $ 240,064 249,652 Income attributable to common unit holders - diluted $ 45,092 $ 240,064 249,652 Denominator: Weighted average common units outstanding for basic EPU 169,997 167,990 170,074 Weighted average common units outstanding for diluted EPU (1) (2) 170,225 168,235 170,450 Income per common unit – basic $ 0.27 $ 1.43 1.47 Income per common unit – diluted $ 0.26 $ 1.43 1.46 (1) Includes the dilutive impact of unvested restricted stock. (2) Using the treasury stock method, weighted average common shares outstanding for basic and diluted earnings per share exclude 1.9 million shares issuable under the forward ATM equity offering outstanding during 2019 as they would be anti-dilutive. |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2020 | |
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. However, no assurances can be given as to the outcome of any threatened or pending legal proceedings. Legal fees are expensed as incurred. Environmental The Company is subject to numerous environmental laws and regulations pertaining primarily to chemicals historically used by certain current and former dry cleaning tenants, the existence of asbestos in older shopping centers, and older 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 its shopping centers have revealed all potential environmental contaminants; that its estimate of liabilities will not change as more information becomes available; that any previous owner, occupant or tenant did not create any material environmental condition not known to the Company; that the current environmental condition of the shopping centers will not be affected by tenants and occupants, by the condition of nearby properties, or by unrelated third parties; and that changes in applicable environmental laws and regulations or their interpretation will not result in additional environmental liability to the Company. Letters of Credit The Company has the right to issue letters of credit under the Line up to an 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, 2020 and 2019, the Company had $9.7 million and $12.5 million, respectively, in letters of credit outstanding. |
Summary of Quarterly Financial
Summary of Quarterly Financial Data | 12 Months Ended |
Dec. 31, 2020 | |
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, 2020 and 2019: (in thousands except per share and per unit data) First Quarter Second Quarter Third Quarter Fourth Quarter Year ended December 31, 2020 Operating Data: Revenue $ 283,658 231,113 242,944 258,460 Net (loss) income attributable to common stockholders $ (25,332 ) 19,046 12,688 38,487 Net (loss) income attributable to exchangeable operating partnership units (115 ) 87 57 174 Net (loss) income attributable to common unit holders $ (25,447 ) 19,133 12,745 38,661 Net (loss) income attributable to common stock and unit holders per share and unit: Basic $ (0.15 ) 0.11 0.07 0.23 Diluted $ (0.15 ) 0.11 0.07 0.23 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 |
Schedule III - Consolidated Rea
Schedule III - Consolidated Real Estate and Accumulated Depreciation | 12 Months Ended |
Dec. 31, 2020 | |
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 (57,260 ) 15,378 10,597 25,975 (1,015 ) 24,960 — 1175 Third Avenue 40,560 25,617 1 40,560 25,618 66,178 (2,866 ) 63,312 — 1225-1239 Second Ave 23,033 17,173 (33 ) 23,033 17,140 40,173 (2,044 ) 38,129 — 200 Potrero 4,860 2,251 124 4,860 2,375 7,235 (278 ) 6,957 — 22 Crescent Road 2,198 272 (318 ) 2,152 — 2,152 — 2,152 — 4S Commons Town Center 30,760 35,830 1,518 30,812 37,296 68,108 (27,466 ) 40,642 (84,191 ) 6401 Roosevelt 2,685 934 2 2,685 936 3,621 (36 ) 3,585 — 90 - 30 Metropolitan Avenue 16,614 24,171 133 16,614 24,304 40,918 (2,814 ) 38,104 — 91 Danbury Road 732 851 — 732 851 1,583 (141 ) 1,442 — Alafaya Village 3,004 5,852 172 3,004 6,024 9,028 (941 ) 8,087 — Amerige Heights Town Center 10,109 11,288 817 10,109 12,105 22,214 (5,594 ) 16,620 — Anastasia Plaza 9,065 — 761 3,338 6,488 9,826 (3,104 ) 6,722 — Ashford Place 2,584 9,865 1,216 2,584 11,081 13,665 (8,451 ) 5,214 — Atlantic Village 4,282 18,827 1,688 4,766 20,031 24,797 (3,328 ) 21,469 — Aventura Shopping Center 2,751 10,459 11,011 9,486 14,735 24,221 (2,718 ) 21,503 — Aventura Square 88,098 20,771 1,705 89,657 20,917 110,574 (3,026 ) 107,548 (4,864 ) Balboa Mesa Shopping Center 23,074 33,838 14,038 27,758 43,192 70,950 (15,913 ) 55,037 — Banco Popular Building 2,160 1,137 (32 ) 2,160 1,105 3,265 (1,261 ) 2,004 — Belleview Square 8,132 9,756 3,827 8,323 13,392 21,715 (9,110 ) 12,605 — Belmont Chase 13,881 17,193 (426 ) 14,372 16,276 30,648 (5,857 ) 24,791 — Berkshire Commons 2,295 9,551 2,696 2,965 11,577 14,542 (8,618 ) 5,924 — Bird 107 Plaza 10,371 5,136 (25 ) 10,371 5,111 15,482 (847 ) 14,635 — Bird Ludlam 42,663 38,481 417 42,663 38,898 81,561 (5,430 ) 76,131 — Black Rock 22,251 20,815 388 22,251 21,203 43,454 (5,432 ) 38,022 (19,405 ) Bloomingdale Square 3,940 14,912 20,222 8,634 30,440 39,074 (9,663 ) 29,411 — Boca Village Square 43,888 9,726 14 43,888 9,740 53,628 (1,964 ) 51,664 — Boulevard Center 3,659 10,787 2,761 3,659 13,548 17,207 (8,097 ) 9,110 — Boynton Lakes Plaza 2,628 11,236 5,018 3,606 15,276 18,882 (8,541 ) 10,341 — Boynton Plaza 12,879 20,713 104 12,879 20,817 33,696 (3,083 ) 30,613 — Brentwood Plaza 2,788 3,473 356 2,788 3,829 6,617 (1,675 ) 4,942 — Briarcliff La Vista 694 3,292 565 694 3,857 4,551 (3,155 ) 1,396 — Briarcliff Village 4,597 24,836 2,469 4,597 27,305 31,902 (20,368 ) 11,534 — Brick Walk 25,299 41,995 1,525 25,299 43,520 68,819 (9,406 ) 59,413 (32,369 ) BridgeMill Market 7,521 13,306 613 7,522 13,918 21,440 (2,495 ) 18,945 (4,012 ) Bridgeton 3,033 8,137 605 3,067 8,708 11,775 (3,206 ) 8,569 — Brighten Park 3,983 18,687 11,477 4,234 29,913 34,147 (19,034 ) 15,113 — Broadway Plaza 40,723 42,170 1,522 40,723 43,692 84,415 (5,789 ) 78,626 — Brooklyn Station on Riverside 7,019 8,688 126 6,998 8,835 15,833 (2,263 ) 13,570 — Brookside Plaza 35,161 17,494 406 35,161 17,900 53,061 (3,688 ) 49,373 — Buckhead Court 1,417 7,432 4,506 1,417 11,938 13,355 (8,458 ) 4,897 — Buckhead Station 70,411 36,518 1,520 70,448 38,001 108,449 (6,683 ) 101,766 — 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 Buckley Square 2,970 5,978 1,366 2,970 7,344 10,314 (4,751 ) 5,563 — Caligo Crossing 2,459 4,897 144 2,546 4,954 7,500 (3,406 ) 4,094 — Cambridge Square 774 4,347 442 774 4,789 5,563 (3,176 ) 2,387 — Carmel Commons 2,466 12,548 4,975 3,422 16,567 19,989 (10,882 ) 9,107 — Carriage Gate 833 4,974 3,300 1,302 7,805 9,107 (6,751 ) 2,356 — Carytown Exchange 4,378 1,328 (54 ) 4,378 1,274 5,652 (110 ) 5,542 — Cashmere Corners 3,187 9,397 263 3,187 9,660 12,847 (1,737 ) 11,110 — Centerplace of Greeley III 6,661 11,502 1,440 5,694 13,909 19,603 (6,098 ) 13,505 — Charlotte Square 1,141 6,845 1,012 1,141 7,857 8,998 (1,465 ) 7,533 — Chasewood Plaza 4,612 20,829 5,816 6,886 24,371 31,257 (19,129 ) 12,128 — Chastain Square 30,074 12,644 1,973 30,074 14,617 44,691 (2,918 ) 41,773 — Cherry Grove 3,533 15,862 4,524 3,533 20,386 23,919 (12,064 ) 11,855 — Chimney Rock 23,613 48,173 395 23,613 48,568 72,181 (9,057 ) 63,124 — Circle Center West 22,930 9,028 (22 ) 22,930 9,006 31,936 (1,478 ) 30,458 (9,143 ) Circle Marina Center 29,303 18,437 (1 ) 29,303 18,436 47,739 (889 ) 46,850 (24,000 ) CityLine Market 12,208 15,839 170 12,306 15,911 28,217 (3,992 ) 24,225 — CityLine Market Phase II 2,744 3,081 3 2,744 3,084 5,828 (710 ) 5,118 — Clayton Valley Shopping Center 24,189 35,422 3,056 24,538 38,129 62,667 (27,711 ) 34,956 — Clocktower Plaza Shopping Ctr 49,630 19,624 523 49,630 20,147 69,777 (2,757 ) 67,020 — Clybourn Commons 15,056 5,594 289 15,056 5,883 20,939 (1,588 ) 19,351 — Cochran's Crossing 13,154 12,315 1,896 13,154 14,211 27,365 (10,728 ) 16,637 — Compo Acres Shopping Center 28,627 10,395 735 28,627 11,130 39,757 (1,480 ) 38,277 — Concord Shopping Plaza 30,819 36,506 1,460 31,272 37,513 68,785 (4,893 ) 63,892 (27,750 ) Copps Hill Plaza 29,515 40,673 383 29,514 41,057 70,571 (5,931 ) 64,640 (11,258 ) Coral Reef Shopping Center 14,922 15,200 2,474 15,332 17,264 32,596 (2,518 ) 30,078 — Corkscrew Village 8,407 8,004 662 8,407 8,666 17,073 (3,944 ) 13,129 — Cornerstone Square 1,772 6,944 1,685 1,772 8,629 10,401 (6,262 ) 4,139 — Corvallis Market Center 6,674 12,244 470 6,696 12,692 19,388 (6,800 ) 12,588 — Costa Verde Center 12,740 26,868 1,499 12,798 28,309 41,107 (26,837 ) 14,270 — Country Walk Plaza 18,713 20,373 32 18,713 20,405 39,118 (754 ) 38,364 (16,000 ) Countryside Shops 17,982 35,574 13,513 23,175 43,894 67,069 (7,352 ) 59,717 — Courtyard Shopping Center 5,867 4 3 5,867 7 5,874 (2 ) 5,872 — Culver Center 108,841 32,308 695 108,841 33,003 141,844 (5,282 ) 136,562 — Danbury Green 30,303 19,255 432 30,303 19,687 49,990 (2,692 ) 47,298 — Dardenne Crossing 4,194 4,005 704 4,343 4,560 8,903 (2,208 ) 6,695 — Darinor Plaza 693 32,140 830 711 32,952 33,663 (4,708 ) 28,955 — Diablo Plaza 5,300 8,181 2,170 5,300 10,351 15,651 (6,041 ) 9,610 — Dunwoody Village 3,342 15,934 5,092 3,342 21,026 24,368 (15,986 ) 8,382 — East Pointe 1,730 7,189 2,142 1,941 9,120 11,061 (6,348 ) 4,713 — El Camino Shopping Center 7,600 11,538 12,968 10,328 21,778 32,106 (9,753 ) 22,353 — El Cerrito Plaza 11,025 27,371 2,622 11,025 29,993 41,018 (12,499 ) 28,519 — 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 El Norte Pkwy Plaza 2,834 7,370 3,308 3,263 10,249 13,512 (6,158 ) 7,354 — Encina Grande 5,040 11,572 20,063 10,518 26,157 36,675 (13,829 ) 22,846 — Fairfield Center 6,731 29,420 1,177 6,731 30,597 37,328 (6,498 ) 30,830 — Falcon Marketplace 1,340 4,168 554 1,340 4,722 6,062 (2,714 ) 3,348 — Fellsway Plaza 30,712 7,327 9,494 34,923 12,610 47,533 (6,467 ) 41,066 (36,592 ) Fenton Marketplace 2,298 8,510 (8,092 ) 512 2,204 2,716 (1,114 ) 1,602 — Fleming Island 3,077 11,587 3,066 3,111 14,619 17,730 (8,838 ) 8,892 — Fountain Square 29,650 29,036 (248 ) 29,712 28,726 58,438 (9,600 ) 48,838 — French Valley Village Center 11,924 16,856 302 11,822 17,260 29,082 (14,190 ) 14,892 — Friars Mission Center 6,660 28,021 1,985 6,660 30,006 36,666 (16,827 ) 19,839 — Gardens Square 2,136 8,273 739 2,136 9,012 11,148 (5,480 ) 5,668 — Gateway 101 24,971 9,113 1,627 24,971 10,740 35,711 (4,421 ) 31,290 — Gateway Shopping Center 52,665 7,134 11,023 55,346 15,476 70,822 (17,675 ) 53,147 — Gelson's Westlake Market Plaza 3,157 11,153 5,908 4,654 15,564 20,218 (8,309 ) 11,909 — Glen Oak Plaza 4,103 12,951 961 4,103 13,912 18,015 (4,734 ) 13,281 — Glengary Shoppes 9,120 11,541 855 9,120 12,396 21,516 (2,097 ) 19,419 — Glenwood Village 1,194 5,381 326 1,194 5,707 6,901 (4,644 ) 2,257 — Golden Hills Plaza 12,699 18,482 3,619 11,518 23,282 34,800 (10,743 ) 24,057 — Grand Ridge Plaza 24,208 61,033 5,874 24,918 66,197 91,115 (23,405 ) 67,710 — Greenwood Shopping Centre 7,777 24,829 504 7,777 25,333 33,110 (3,912 ) 29,198 — Hammocks Town Center 28,764 25,113 696 28,764 25,809 54,573 (4,150 ) 50,423 — Hancock 8,232 28,260 1,797 8,232 30,057 38,289 (17,255 ) 21,034 — Harpeth Village Fieldstone 2,284 9,443 778 2,284 10,221 12,505 (5,890 ) 6,615 — Heritage Plaza 12,390 26,097 13,787 12,215 40,059 52,274 (19,489 ) 32,785 — Hershey 7 808 10 7 818 825 (498 ) 327 — Hewlett Crossing I & II 11,850 18,205 765 11,850 18,970 30,820 (1,906 ) 28,914 (9,235 ) Hibernia Pavilion 4,929 5,065 216 4,929 5,281 10,210 (3,606 ) 6,604 — Hickory Creek Plaza 5,629 4,564 377 5,629 4,941 10,570 (5,023 ) 5,547 — Hillcrest Village 1,600 1,909 51 1,600 1,960 3,560 (1,096 ) 2,464 — Hilltop Village 2,995 4,581 3,714 3,104 8,186 11,290 (3,603 ) 7,687 — Hinsdale 5,734 16,709 11,831 8,343 25,931 34,274 (14,822 ) 19,452 — Holly Park 8,975 23,799 2,416 8,828 26,362 35,190 (6,374 ) 28,816 — Homestead McDonald's 2,229 — — 2,229 — 2,229 (30 ) 2,199 — Howell Mill Village 5,157 14,279 2,888 5,157 17,167 22,324 (7,456 ) 14,868 — Hyde Park 9,809 39,905 6,945 9,809 46,850 56,659 (27,741 ) 28,918 — Indian Springs Center 24,974 25,903 683 25,034 26,526 51,560 (5,974 ) 45,586 — Indigo Square 8,088 9,712 58 8,088 9,770 17,858 (1,137 ) 16,721 — Inglewood Plaza 1,300 2,159 834 1,300 2,993 4,293 (1,719 ) 2,574 — Keller Town Center 2,294 12,841 901 2,404 13,632 16,036 (7,487 ) 8,549 — Kirkman Shoppes 9,364 26,243 528 9,367 26,768 36,135 (3,737 ) 32,398 — Kirkwood Commons 6,772 16,224 929 6,802 17,123 23,925 (5,611 ) 18,314 (7,302 ) 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 Klahanie Shopping Center 14,451 20,089 552 14,451 20,641 35,092 (3,462 ) 31,630 — Kroger New Albany Center 3,844 6,599 1,396 3,844 7,995 11,839 (6,020 ) 5,819 — Lake Mary Centre 24,036 57,476 2,034 24,036 59,510 83,546 (9,501 ) 74,045 — Lake Pine Plaza 2,008 7,632 932 2,029 8,543 10,572 (5,120 ) 5,452 — Lantana Outparcels 3,710 1,004 (2,717 ) 1,148 849 1,997 (141 ) 1,856 — Lebanon/Legacy Center 3,913 7,874 938 3,913 8,812 12,725 (6,458 ) 6,267 — Littleton Square 2,030 8,859 (3,572 ) 2,423 4,894 7,317 (2,682 ) 4,635 — Lloyd King Center 1,779 10,060 1,277 1,779 11,337 13,116 (6,850 ) 6,266 — Lower Nazareth Commons 15,992 12,964 4,060 16,343 16,673 33,016 (10,883 ) 22,133 — Mandarin Landing 7,913 27,230 342 7,913 27,572 35,485 (4,279 ) 31,206 — Market at Colonnade Center 6,455 9,839 73 6,160 10,207 16,367 (4,833 ) 11,534 — Market at Preston Forest 4,400 11,445 1,769 4,400 13,214 17,614 (7,683 ) 9,931 — Market at Round Rock 2,000 9,676 6,614 1,996 16,294 18,290 (10,738 ) 7,552 — Market at Springwoods Village 12,590 12,781 (83 ) 12,590 12,698 25,288 (2,690 ) 22,598 (6,350 ) Market Common Clarendon 154,932 126,328 (3,854 ) 154,932 122,474 277,406 (18,036 ) 259,370 — Marketplace at Briargate 1,706 4,885 199 1,727 5,063 6,790 (3,093 ) 3,697 — Mellody Farm 35,726 66,165 (1 ) 35,726 66,164 101,890 (7,180 ) 94,710 — Melrose Market 4,451 10,807 (74 ) 4,451 10,733 15,184 (1,264 ) 13,920 — Millhopper Shopping Center 1,073 5,358 5,990 1,901 10,520 12,421 (7,550 ) 4,871 — Mockingbird Commons 3,000 10,728 2,464 3,000 13,192 16,192 (7,455 ) 8,737 — Monument Jackson Creek 2,999 6,765 919 2,999 7,684 10,683 (5,965 ) 4,718 — Morningside Plaza 4,300 13,951 969 4,300 14,920 19,220 (8,615 ) 10,605 — Murrayhill Marketplace 2,670 18,401 14,460 2,903 32,628 35,531 (15,919 ) 19,612 — Naples Walk 18,173 13,554 1,821 18,173 15,375 33,548 (7,150 ) 26,398 — Newberry Square 2,412 10,150 1,270 2,412 11,420 13,832 (9,034 ) 4,798 — Newland Center 12,500 10,697 8,648 16,276 15,569 31,845 (9,589 ) 22,256 — Nocatee Town Center 10,124 8,691 8,596 11,035 16,376 27,411 (7,575 ) 19,836 — North Hills 4,900 19,774 1,517 4,900 21,291 26,191 (13,277 ) 12,914 — Northgate Marketplace 5,668 13,727 (48 ) 4,995 14,352 19,347 (6,297 ) 13,050 — Northgate Marketplace Ph II 12,189 30,171 133 12,189 30,304 42,493 (6,115 ) 36,378 — Northgate Plaza (Maxtown Road) 1,769 6,652 4,961 2,840 10,542 13,382 (5,756 ) 7,626 — Northgate Square 5,011 8,692 1,053 5,011 9,745 14,756 (4,720 ) 10,036 — Northlake Village 2,662 11,284 (174 ) 2,662 11,110 13,772 (6,295 ) 7,477 — Oak Shade Town Center 6,591 28,966 673 6,591 29,639 36,230 (10,268 ) 25,962 (6,301 ) Oakbrook Plaza 4,000 6,668 5,756 4,766 11,658 16,424 (5,262 ) 11,162 — Oakleaf Commons 3,503 11,671 839 3,190 12,823 16,013 (7,041 ) 8,972 — Ocala Corners 1,816 10,515 528 1,816 11,043 12,859 (4,773 ) 8,086 — Old St Augustine Plaza 2,368 11,405 13,437 3,454 23,756 27,210 (9,218 ) 17,992 — Pablo Plaza 11,894 21,407 9,314 13,320 29,295 42,615 (3,973 ) 38,642 — Paces Ferry Plaza 2,812 12,639 15,553 8,378 22,626 31,004 (11,089 ) 19,915 — Panther Creek 14,414 14,748 5,837 15,212 19,787 34,999 (14,247 ) 20,752 — 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 Pavillion 15,626 22,124 679 15,626 22,803 38,429 (3,869 ) 34,560 — Peartree Village 5,197 19,746 878 5,197 20,624 25,821 (13,475 ) 12,346 — Persimmon Place 25,975 38,114 (115 ) 26,692 37,282 63,974 (11,634 ) 52,340 — Piedmont Peachtree Crossing 45,502 16,642 133 45,502 16,775 62,277 (2,765 ) 59,512 — Pike Creek 5,153 20,652 2,601 5,251 23,155 28,406 (13,839 ) 14,567 — Pine Island 21,086 28,123 3,113 21,086 31,236 52,322 (5,845 ) 46,477 — Pine Lake Village 6,300 10,991 1,556 6,300 12,547 18,847 (7,181 ) 11,666 — Pine Ridge Square 13,951 23,147 463 13,951 23,610 37,561 (3,656 ) 33,905 — Pine Tree Plaza 668 6,220 769 668 6,989 7,657 (4,020 ) 3,637 — Pinecrest Place 3,839 13,437 (201 ) 3,638 13,437 17,075 (1,646 ) 15,429 — Plaza Escuela 24,829 104,395 1,218 24,829 105,613 130,442 (11,126 ) 119,316 — Plaza Hermosa 4,200 10,109 3,608 4,202 13,715 17,917 (7,587 ) 10,330 — Point 50 15,239 11,367 (1,040 ) 15,738 9,828 25,566 (51 ) 25,515 — Point Royale Shopping Center 18,201 14,889 6,572 19,386 20,276 39,662 (4,176 ) 35,486 — Post Road Plaza 15,240 5,196 153 15,240 5,349 20,589 (786 ) 19,803 — Potrero Center 133,422 116,758 1,279 133,422 118,037 251,459 (12,894 ) 238,565 — Powell Street Plaza 8,248 30,716 3,039 8,248 33,755 42,003 (16,814 ) 25,189 — Powers Ferry Square 3,687 17,965 9,567 5,758 25,461 31,219 (18,419 ) 12,800 — Powers Ferry Village 1,191 4,672 764 1,191 5,436 6,627 (4,182 ) 2,445 — Prairie City Crossing (fka Folsom Prairie City Crossing) 4,164 13,032 729 4,164 13,761 17,925 (7,007 ) 10,918 — Preston Oaks 763 30,438 (19,425 ) 569 11,207 11,776 (2,741 ) 9,035 — Prestonbrook 7,069 8,622 1,180 7,069 9,802 16,871 (7,304 ) 9,567 — Prosperity Centre 11,682 26,215 188 11,681 26,404 38,085 (3,809 ) 34,276 — Ralphs Circle Center 20,939 6,317 98 20,939 6,415 27,354 (1,167 ) 26,187 — Red Bank Village 10,336 9,500 1,938 10,514 11,260 21,774 (3,734 ) 18,040 — Regency Commons 3,917 3,616 300 3,917 3,916 7,833 (2,726 ) 5,107 — Regency Square 4,770 25,191 6,488 5,060 31,389 36,449 (24,600 ) 11,849 — Rivertowns Square 15,505 52,505 2,486 16,779 53,717 70,496 (4,513 ) 65,983 — Rona Plaza 1,500 4,917 288 1,500 5,205 6,705 (3,248 ) 3,457 — Roosevelt Square 40,371 32,108 3,731 40,382 35,828 76,210 (3,138 ) 73,072 — Russell Ridge 2,234 6,903 1,501 2,234 8,404 10,638 (5,659 ) 4,979 — Ryanwood Square 10,581 10,044 167 10,573 10,219 20,792 (2,027 ) 18,765 — Salerno Village 1,355 — — 1,355 — 1,355 (19 ) 1,336 — Sammamish-Highlands 9,300 8,075 8,746 9,592 16,529 26,121 (10,207 ) 15,914 — San Carlos Marketplace 36,006 57,886 320 36,006 58,206 94,212 (6,559 ) 87,653 — San Leandro Plaza 1,300 8,226 713 1,300 8,939 10,239 (5,122 ) 5,117 — Sandy Springs 6,889 28,056 3,457 6,889 31,513 38,402 (8,851 ) 29,551 — Sawgrass Promenade 10,846 12,525 368 10,846 12,893 23,739 (2,216 ) 21,523 — Scripps Ranch Marketplace 59,949 26,334 688 59,949 27,022 86,971 (3,043 ) 83,928 — Sequoia Station 9,100 18,356 2,339 9,100 20,695 29,795 (11,754 ) 18,041 — 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 Serramonte Center 390,106 172,652 53,680 409,840 206,598 616,438 (44,005 ) 572,433 — Shaw's at Plymouth 3,968 8,367 — 3,968 8,367 12,335 (1,392 ) 10,943 — Sheridan Plaza 82,260 97,273 6,821 82,775 103,579 186,354 (13,520 ) 172,834 — Sherwood Crossroads 2,731 6,360 1,189 2,731 7,549 10,280 (3,743 ) 6,537 — Shoppes 104 11,193 — 2,371 7,078 6,486 13,564 (3,098 ) 10,466 — Shoppes at Homestead 5,420 9,450 2,170 5,420 11,620 17,040 (6,650 ) 10,390 — Shoppes at Lago Mar 8,323 11,347 (82 ) 8,323 11,265 19,588 (1,981 ) 17,607 — Shoppes at Sunlake Centre 16,643 15,091 318 16,643 15,409 32,052 (3,099 ) 28,953 — Shoppes of Grande Oak 5,091 5,985 581 5,091 6,566 11,657 (5,473 ) 6,184 — Shoppes of Jonathan's Landing 4,474 5,628 432 4,474 6,060 10,534 (956 ) 9,578 — Shoppes of Oakbrook 20,538 42,992 (456 ) 20,538 42,536 63,074 (5,672 ) 57,402 (2,654 ) Shoppes of Silver Lakes 17,529 21,829 80 17,529 21,909 39,438 (3,726 ) 35,712 — Shoppes of Sunset 2,860 1,316 53 2,860 1,369 4,229 (279 ) 3,950 — Shoppes of Sunset II 2,834 715 (39 ) 2,834 676 3,510 (183 ) 3,327 — Shops at County Center 9,957 11,296 700 9,973 11,980 21,953 (10,301 ) 11,652 — Shops at Erwin Mill 9,082 6,124 256 9,087 6,375 15,462 (3,103 ) 12,359 (10,000 ) Shops at John's Creek 1,863 2,014 (250 ) 1,501 2,126 3,627 (1,497 ) 2,130 — Shops at Mira Vista 11,691 9,026 207 11,691 9,233 20,924 (2,491 ) 18,433 (204 ) Shops at Quail Creek 1,487 7,717 704 1,448 8,460 9,908 (4,098 ) 5,810 — Shops at Saugus 19,201 17,984 (3 ) 18,811 18,371 37,182 (11,141 ) 26,041 — Shops at Skylake 84,586 39,342 1,737 85,117 40,548 125,665 (7,225 ) 118,440 — Shops on Main 17,020 27,055 15,754 18,534 41,295 59,829 (12,297 ) 47,532 — Sope Creek Crossing 2,985 12,001 3,267 3,332 14,921 18,253 (9,175 ) 9,078 — South Beach Regional 28,188 53,405 783 28,188 54,188 82,376 (8,247 ) 74,129 — South Point 6,563 7,939 94 6,563 8,033 14,596 (1,399 ) 13,197 — Southbury Green 26,661 34,325 5,465 29,670 36,781 66,451 (5,018 ) 61,433 — Southcenter 1,300 12,750 2,006 1,300 14,756 16,056 (8,503 ) 7,553 — Southpark at Cinco Ranch 18,395 11,306 7,401 21,438 15,664 37,102 (7,368 ) 29,734 — SouthPoint Crossing 4,412 12,235 1,190 4,382 13,455 17,837 (7,614 ) 10,223 — Starke 71 1,683 10 71 1,693 1,764 (857 ) 907 — Star's at Cambridge 31,082 13,520 (1 ) 31,082 13,519 44,601 (1,922 ) 42,679 — Star's at Quincy 27,003 9,425 1 27,003 9,426 36,429 (2,114 ) 34,315 — Star's at West Roxbury 21,973 13,386 (8 ) 21,973 13,378 35,351 (1,940 ) 33,411 — Sterling Ridge 12,846 12,162 795 12,846 12,957 25,803 (10,271 ) 15,532 — Stroh Ranch 4,280 8,189 710 4,280 8,899 13,179 (6,781 ) 6,398 — Suncoast Crossing 9,030 10,764 4,553 13,374 10,973 24,347 (7,733 ) 16,614 — Talega Village Center 22,415 12,054 58 22,415 12,112 34,527 (1,734 ) 32,793 — Tamarac Town Square 12,584 9,221 838 12,584 10,059 22,643 (1,830 ) 20,813 — Tanasbourne Market 3,269 10,861 (336 ) 3,149 10,645 13,794 (5,864 ) 7,930 — Tassajara Crossing 8,560 15,464 1,960 8,560 17,424 25,984 (9,571 ) 16,413 — Tech Ridge Center 12,945 37,169 3,761 13,625 40,250 53,875 (14,071 ) 39,804 (3,346 ) 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 The Abbot 72,910 6,086 (5,444 ) 72,910 642 73,552 (85 ) 73,467 — The Field at Commonwealth 30,771 18,010 1 30,772 18,010 48,782 (3,913 ) 44,869 — The Gallery at Westbury Plaza 108,653 216,771 3,014 108,653 219,785 328,438 (27,088 ) 301,350 — The Hub Hillcrest Market 18,773 61,906 5,600 19,611 66,668 86,279 (16,702 ) 69,577 — The Marketplace 10,927 36,052 412 10,927 36,464 47,391 (4,801 ) 42,590 — The Plaza at St. Lucie West 1,718 6,204 (15 ) 1,718 6,189 7,907 (873 ) 7,034 — The Point at Garden City Park 741 9,764 5,795 2,559 13,741 16,300 (2,922 ) 13,378 — The Pruneyard 112,136 86,918 900 112,136 87,818 199,954 (4,811 ) 195,143 (2,200 ) The Shops at Hampton Oaks 843 372 (344 ) 737 134 871 (61 ) 810 — The Village at Hunter's Lake 7,544 12,344 6 7,544 12,350 19,894 (546 ) 19,348 — The Village at Riverstone 17,164 13,142 (85 ) 17,164 13,057 30,221 (1,587 ) 28,634 — Town and Country 4,664 5,207 15 4,664 5,222 9,886 (1,268 ) 8,618 — Town Square 883 8,132 209 883 8,341 9,224 (5,253 ) 3,971 — Treasure Coast Plaza 7,553 21,554 1,009 7,553 22,563 30,116 (3,445 ) 26,671 (2,007 ) Tustin Legacy 13,829 23,922 (37 ) 13,828 23,886 37,714 (3,793 ) 33,921 — Twin City Plaza 17,245 44,225 2,478 17,263 46,685 63,948 (18,796 ) 45,152 — Twin Peaks 5,200 25,827 1,908 5,200 27,735 32,935 (15,771 ) 17,164 — Unigold Shopping Center 5,490 5,144 6,640 5,561 11,713 17,274 (2,846 ) 14,428 — University Commons 4,070 30,785 493 4,070 31,278 35,348 (6,768 ) 28,580 — Valencia Crossroads 17,921 17,659 1,333 17,921 18,992 36,913 (16,670 ) 20,243 — Village at La Floresta 13,140 20,559 (291 ) 13,156 20,252 33,408 (5,596 ) 27,812 — Village at Lee Airpark 11,099 12,973 3,341 11,803 15,610 27,413 (11,289 ) 16,124 — Village Center 3,885 14,131 9,543 5,480 22,079 27,559 (11,152 ) 16,407 — Von's Circle Center 49,037 22,618 735 49,037 23,353 72,390 (3,522 ) 68,868 (6,434 ) Walker Center 3,840 7,232 4,238 3,878 11,432 15,310 (7,784 ) 7,526 — Walmart Norwalk 20,394 21,261 9 20,394 21,270 41,664 (3,576 ) 38,088 — Waterstone Plaza 5,498 13,500 57 5,498 13,557 19,055 (2,021 ) 17,034 — Welleby Plaza 1,496 7,787 1,704 1,496 9,491 10,987 (8,155 ) 2,832 — Wellington Town Square 2,041 12,131 (798 ) 2,041 11,333 13,374 (6,766 ) 6,608 — West Bird Plaza 12,934 18,594 (10,423 ) 11,748 9,357 21,105 (1,250 ) 19,855 — West Chester Plaza 1,857 7,572 668 1,857 8,240 10,097 (6,141 ) 3,956 — West Lake Shopping Center 10,561 9,792 157 10,561 9,949 20,510 (2,043 ) 18,467 — West Park Plaza 5,840 5,759 1,737 5,840 7,496 13,336 (4,571 ) 8,765 — Westbury Plaza 116,129 51,460 3,462 116,129 54,922 171,051 (8,659 ) 162,392 (88,000 ) Westchase 5,302 8,273 1,137 5,302 9,410 14,712 (4,148 ) 10,564 — Westchester Commons 3,366 11,751 10,818 4,894 21,041 25,935 (8,980 ) 16,955 — Westlake Village Plaza and Center (fka Westlake Village Plaza) 7,043 27,195 30,063 17,620 46,681 64,301 (28,323 ) 35,978 — Westport Plaza 9,035 7,455 23 9,035 7,478 16,513 (1,361 ) 15,152 (2,096 ) Westport Row (fka The Village Center) 43,597 16,428 5,329 45,260 20,094 65,354 (3,049 ) 62,305 — 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 Westbard Square 127,859 21,514 (245 ) 127,859 21,269 149,128 (19,686 ) 129,442 — Westwood Village 19,933 25,301 (1,759 ) 18,979 24,496 43,475 (15,329 ) 28,146 — Williamsburg at Dunwoody 7,435 3,721 906 7,444 4,618 12,062 (971 ) 11,091 — Willow Festival 1,954 56,501 3,235 1,976 59,714 61,690 (18,314 ) 43,376 — Willow Oaks 6,664 7,908 (371 ) 6,294 7,907 14,201 (2,556 ) 11,645 — Willows Shopping Center 51,964 78,029 974 51,992 78,975 130,967 (9,919 ) 121,048 — Woodcroft Shopping Center 1,419 6,284 1,191 1,421 7,473 8,894 (5,037 ) 3,857 — Woodman Van Nuys 5,500 7,195 418 5,500 7,613 13,113 (4,333 ) 8,780 — Woodmen Plaza 7,621 11,018 948 7,621 11,966 19,587 (11,297 ) 8,290 — Woodside Central 3,500 9,288 612 3,489 9,911 13,400 (5,697 ) 7,703 — Corporate Assets — — 1,325 — 1,325 1,325 (1,323 ) 2 — Land held for future development 19,426 — (4,055 ) 15,308 63 15,371 (10 ) 15,361 — Construction in progress — — 159,241 — 159,241 159,241 — 159,241 — $ 4,791,532 5,546,443 763,883 4,861,253 6,240,605 11,101,858 (1,994,108 ) 9,107,750 (415,713 ) (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 $8.9 billion at December 31, 2020. The changes in total real estate assets for the years ended December 31, 2020, 2019, and 2018 are as follows: (in thousands) 2020 2019 2018 Beginning balance $ 11,095,294 10,863,162 10,892,821 Acquired properties and land 39,087 268,366 113,911 Developments and improvements 154,657 193,973 213,389 Disposal of building and tenant improvements (35,034 ) (34,824 ) (15,384 ) Sale of properties (95,780 ) (60,195 ) (277,270 ) Properties held for sale (38,122 ) (58,527 ) (59,438 ) Provision for impairment (18,244 ) (76,661 ) (4,867 ) Ending balance $ 11,101,858 11,095,294 10,863,162 The changes in accumulated depreciation for the years ended December 31, 2020, 2019, and 2018 are as follows: (in thousands) 2020 2019 2018 Beginning balance $ 1,766,162 1,535,444 1,339,771 Depreciation expense 278,861 295,638 264,873 Disposal of building and tenant improvements (35,034 ) (34,824 ) (15,384 ) Sale of properties (10,812 ) (4,643 ) (45,901 ) Accumulated depreciation related to properties held for sale (4,357 ) (19,031 ) (7,729 ) Provision for impairment (712 ) (6,422 ) (186 ) Ending balance $ 1,994,108 1,766,162 1,535,444 See accompanying report of independent registered public accounting firm. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
Organization Consolidation And Presentation Of Financial Statements [Abstract] | |
Organization and Principles of Consolidation | (a) Organization and Principles of Consolidation General Regency Centers Corporation (the “Parent Company”) began its operations as a REIT in 1993 and is the general partner of Regency Centers, L.P. (the “Operating Partnership”). The Parent Company primarily engages in the ownership, management, leasing, acquisition, development and redevelopment of shopping centers through the Operating Partnership, has no other assets other than through its investment in the Operating Partnership, and its only liabilities are $200 million of unsecured private placement notes, which are co-issued and guaranteed by the Operating Partnership. The Parent Company guarantees all of the unsecured debt of the Operating Partnership. As of December 31, 2020, the Parent Company, the Operating Partnership, and their controlled subsidiaries on a consolidated basis (the “Company” or “Regency”) owned 297 properties and held partial interests in an additional 114 properties through unconsolidated Investments in real estate partnerships (also referred to as “joint ventures” or “co-investment partnerships”). Consolidation The accompanying consolidated financial statements include the accounts of the Parent Company, the Operating Partnership, its wholly-owned subsidiaries, and consolidated partnerships in which the Company has a controlling 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 variable interest entities (“VIEs”) and voting interest entities. For joint ventures that are determined to be a VIE, the Company consolidates the entity where it is deemed to be the primary beneficiary. Determination of the primary beneficiary is based on whether an entity has (1) the power to direct the activities of the VIE that most significantly impact the entity’s economic performance, and (2) the obligation to absorb losses of the entity that could potentially be significant to the VIE or the right to receive benefits from the entity that could potentially be significant to the VIE. Ownership of the Parent Company The Parent Company has a single class of common stock outstanding. Ownership of the Operating Partnership The Operating Partnership's capital includes general and limited common Partnership Units. As of December 31, 2020, the Parent Company owned approximately 99.6%, or 169,680,138, of the 170,445,184 outstanding common Partnership Units of the Operating Partnership, with the remaining limited common Partnership Units held by third parties (“Exchangeable operating partnership units” or “EOP units”). Each EOP unit is exchangeable for cash or one share of common stock of the Parent Company, at the discretion of the Parent Company, and the unit holder cannot require redemption in cash or other assets (i.e. registered shares of the Parent). The Parent Company has evaluated the conditions as specified under Accounting Standards Codification (“ASC”) Topic 480, Distinguishing Liabilities from Equity |
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, collectibility of lease income, 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. |
Real Estate Partnerships | Real Estate Partnerships Regency has a partial ownership interest in 124 properties through partnerships, of which 10 are consolidated. Regency's partners include institutional investors and other real estate developers and/or operators (the “Partners” or “Limited Partners”). 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 and asset management services to the partnerships. The Partners’ level of involvement in these partnerships varies from protective decisions (debt, bankruptcy, selling primary asset(s) of business) to participating involvement such as approving leases, operating budgets, and capital budgets. 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, 2020 December 31, 2019 Assets Net real estate investments (1) $ 127,240 325,464 Cash, cash equivalents, and restricted cash (1) 4,496 57,269 Liabilities Notes payable 6,340 17,740 Equity Limited partners’ interests in consolidated partnerships 28,685 30,655 (1) Included in the December 31, 2019 balances were real estate assets and cash held in Section 1031 like-kind exchanges, of which none remained at December 31, 2020. |
Noncontrolling Interests | 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. 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 partnership agreements, 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 stated increases over the term of the lease. Some of the lease agreements contain provisions that provide for additional rents based on tenants' sales volume ( “ percentage rent ” ) , which are recognized when the tenants achieve the specified targets as defined in their lease agreements. Additionally, most lease agreements contain provisions for reimbursement of the tenants' share of actual real estate taxes, 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 Space”). 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, allowing it to 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, Leases Classification Under Topic Recognition and Presentation CAM is a non-lease component of the lease contract under Topic 842, and therefore recognition for these CAM expenses would be accounted for under Topic 606, Revenue from Contracts with Customers Collectibility 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 of substantially all payments due under the lease is probable due to the Company’s credit checks on tenants and other creditworthiness analysis undertaken before entering into a new lease; therefore, income from most operating leases is initially recognized on a straight-line basis. For operating leases in which collectibility of Lease income is not considered probable, Lease income is recognized on a cash basis and all previously recognized straight-line rent receivables are reversed in the period in which the Lease income is determined not to be probable of collection. In addition to the lease-specific collectibility assessment performed under Topic 842, the Company may also recognize a general reserve, as a reduction to Lease income, for its portfolio of operating lease receivables which are not expected to be fully collectible based on the Company’s historical collection experience. The Company estimates the collectibility of the accounts receivable related to base rents, straight-line rents, recoveries from tenants, and other revenue taking into consideration the Company's historical write-off experience, tenant credit-worthiness, current economic trends, and remaining lease terms. 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 in Other operating expenses, while uncollectible straight line rent was recorded as a charge to Lease income. COVID-19 Pandemic and Rent Concessions During 2020, in response to the pandemic and the resulting entry into agreements for rent concessions between tenants and landlords, the FASB issued interpretive guidance relating to the accounting for lease concessions provided as a result of COVID-19. In this guidance, entities could elect not to apply lease modification accounting with respect to such lease concessions, and instead, treat the concession as if it was a part of the existing contract. This guidance is only applicable to COVID-19 related lease concessions that do not result in a substantial increase in the right of the lessor or the obligations of the lessee. The Company has elected to treat concessions that satisfy this criteria as though the concession was part of the existing contract and therefore not treated like a lease modification. Since the pandemic began, the Company has executed approximately 1,600 rent deferral agreements representing $40.8 million of rent or 4.6% of Pro-rata annual base rent, within its consolidated and unconsolidated real estate portfolio. The weighted average deferral period of these agreements is approximately 3.3 months, with repayment periods of approximately 9.7 months beginning in December 2020. The Company will continue to negotiate with some tenants, which may result in further rent concessions as determined necessary and appropriate. Collectibility assessment of these concessions generally includes consideration of the tenants’ business performance, ability to sustain their business in the current environment, as well as an assessment of their credit worthiness and ability to repay such amounts in the future. The following table represents the components of Tenant and other receivables, net of amounts considered uncollectible, in the accompanying Consolidated Balance Sheets: December 31, (in thousands) 2020 2019 Tenant receivables $ 39,658 35,526 Straight-line rent receivables 86,615 107,087 Other receivables (1) 17,360 26,724 Total tenant and other receivables, net $ 143,633 169,337 ( 1 ) Other receivables include construction receivables, insurance receivables, and amounts due from real estate partnerships for Management, transaction and other fee income. Real Estate Sales The Company accounts for sales of nonfinancial assets under Subtopic 610-20, whereby the Company derecognizes real estate and recognizes a gain or loss on sales when a contract exists and control of the property has transferred to the buyer. Control of the property, including controlling financial interest, is generally considered to transfer upon closing through transfer of the legal title and possession of the property. Any retained noncontrolling interest is measured at fair value at that time. The adoption this Subtopic 610-20 on January 1, 2018, resulted in the recognition, through opening retained Management Services and Other Property Income The Company recognizes revenue under Topic 606, Revenue from Contracts with Customers, Property and Asset Management Services The Company is engaged under agreements with its joint venture partnerships, which are generally perpetual in nature and cancellable through unanimous partner approval, absent an event of default. Under these agreements, the Company is to provide asset and property management and leasing services for the joint ventures' shopping centers. The fees are market-based, generally calculated as a percentage of either revenues earned or the estimated values of the properties managed or the proceeds received, and are recognized over the monthly or quarterly periods as services are rendered. Property management and asset management services represent a series of distinct daily services. Accordingly, the Company satisfies its performance obligation as service is rendered each day and the variability associated with that compensation is resolved each day. Amounts due from the partnerships for such services are paid during the month following the monthly or quarterly service periods. Several of the Company’s partnership agreements provide for incentive payments, generally referred to as “promotes” or “earnouts,” to Regency for appreciation in property values in Regency's capacity as manager. The terms of these promotes are based on appreciation in real estate value over designated time intervals or upon designated events . The Company evaluates its expected promote payout at each reporting period, which generally does not result in revenue recognition until the measurement period has completed, when the amount can be reasonably determined and the amount is not probable of significant reversal. The Company did not recognize any promote revenue during the years ended December 31, 2020 , 2019 , or 2018 . 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 within the Consolidated Balance Sheets. Other Property Income Other property income includes parking fee and other incidental income from the properties and is generally recognized at the point in time that the performance obligation is met. All income from contracts with the Company’s real estate partnerships is included within Management, transaction and other fees on the Consolidated Statements of Operations. The primary components of these revenue streams, the timing of satisfying the performance obligations, and amounts are as follows: Year ended December 31, (in thousands) Timing of satisfaction of performance obligations 2020 2019 2018 Management, transaction, and other fees: Property management services Over time $ 14,444 14,744 14,663 Asset management services Over time 6,963 7,135 7,213 Leasing services Point in time 3,150 3,692 4,044 Other transaction fees Point in time 1,944 4,065 2,574 Total management, transaction, and other fees $ 26,501 29,636 28,494 The accounts receivable for management services, which are included within Tenant and other receivables in the accompanying Consolidated Balance Sheets, are $9.9 million and $11.6 million, as of December 31, 2020 and 2019, respectively. |
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, 2020 December 31, 2019 Land $ 4,230,989 $ 4,288,695 Land improvements 630,264 607,624 Buildings 5,083,660 5,101,061 Building and tenant improvements 997,704 946,034 Construction in progress 159,241 151,880 Total real estate assets $ 11,101,858 11,095,294 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. 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, 2020 and 2019, the Company had nonrefundable deposits and other pre development costs of approximately $25.3 million and $17.7 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, 2020, 2019, and 2018, the Company expensed pre-development costs of approximately $10.5 million, $2.5 million, and $1.9 million, respectively, in Other operating expenses in the accompanying Consolidated Statements of Operations. Interest costs are capitalized into each development and redevelopment project based upon applying the Company's weighted average borrowing rate to that portion of the actual development or redevelopment costs 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. During the years ended December 31, 2020, 2019, and 2018, the Company capitalized interest of $4.4 million, $4.2 million, and $7.0 million, respectively, on our development and redevelopment projects. We have a staff of employees directly supporting our development and redevelopment program. All direct internal costs attributable to these development activities are capitalized as part of each development and redevelopment project. The capitalization of costs is directly related to the actual level of development activity occurring. During the years ended December 31, 2020, 2019, and 2018, we capitalized $10.2 million, $20.4 million, and $17.1 million, respectively, of direct internal costs incurred to support our development and redevelopment program. Acquisitions The Company generally accounts for operating property acquisitions as asset acquisitions. The Company capitalizes transaction costs associated with asset acquisitions and expenses transaction costs associated with business combinations. Both asset acquisitions and business combinations require that the Company recognize and measure the identifiable assets acquired, the liabilities assumed, and any noncontrolling interest in the operating property acquired (“acquiree”). 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 held and used is changed to held for sale, the Company estimates fair value, less expected costs to sell, which could cause the Company to determine that the property is impaired. The 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 $2.7 billion and $2.8 billion at December 31, 2020 and 2019, respectively, 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, 2020 and 2019, $2.4 million and $2.5 million, respectively, of cash was restricted through escrow agreements and certain mortgage loans. |
Other Assets | (e) Other Assets Goodwill Goodwill represents the excess of the purchase price consideration from the Equity One merger in 2017 over the fair value of the assets acquired and liabilities assumed. The Company accounts for goodwill in accordance with ASC Topic 350, Intangibles - Goodwill and Other The goodwill impairment evaluation is completed using either a qualitative or quantitative approach. Under a qualitative approach, the impairment review for goodwill consists of an assessment of whether it is more-likely-than-not that the reporting unit’s fair value is less than its carrying value, including goodwill. If a qualitative approach indicates it is more likely-than-not that the estimated carrying value of a reporting unit (including goodwill) exceeds its fair value, or if the Company chooses to bypass the qualitative approach for any reporting unit, the Company will perform the quantitative approach described below. The quantitative approach consists of estimating the fair value of each reporting unit using discounted projected future cash flows and comparing those estimated fair values with the carrying values, which include the allocated goodwill. If the estimated fair value is less than the carrying value, the Company would then recognize a goodwill impairment charge for the amount by which the carrying amount exceeds the reporting unit's fair value, not to exceed the total amount of goodwill allocated to that reporting unit. Investments The Company determines the appropriate classification of its investments in debt and equity securities at the time of purchase and reevaluates such determinations at each balance sheet date. The fair value of securities is determined using quoted market prices. Debt securities are classified as held to maturity when the Company has the positive intent and ability to hold the securities to maturity. Debt securities that are bought and held principally for the purpose of selling them in the near term are classified as trading securities and are reported at fair value, with unrealized gains and losses recognized through earnings in Investment income in the Consolidated Statements of Operations. Debt securities not classified as held to maturity or as trading, are classified as available-for-sale, and are carried at fair value, with the unrealized gains and losses, net of tax, included in the determination of comprehensive income and reported in the Consolidated Statements of Comprehensive Income. Equity securities with readily determinable fair values are measured at fair value with changes in the fair value recognized through net income and presented within Investment income in the Consolidated Statements of Operations. |
Goodwill | Goodwill Goodwill represents the excess of the purchase price consideration from the Equity One merger in 2017 over the fair value of the assets acquired and liabilities assumed. The Company accounts for goodwill in accordance with ASC Topic 350, Intangibles - Goodwill and Other 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 may also utilize cash flow hedges to lock U.S. Treasury rates in anticipation of future fixed-rate debt issuances. The gains or losses resulting from changes in fair value of derivatives that qualify as cash flow hedges are recognized in Accumulated other comprehensive income (loss) (“AOCI”). Upon the settlement of a hedge, gains and losses remaining in AOCI are amortized through earnings over the underlying term of the hedged transaction. The cash receipts or payments related to interest rate swaps are presented in cash flows provided by operating activities in the accompanying Consolidated Statements of Cash Flows. The Company formally documents all relationships between hedging instruments and hedged items, as well as its risk management objectives and strategies for undertaking various hedge transactions. The Company assesses, both at inception of the hedge and on an ongoing basis, whether the derivatives that are used in hedging transactions are highly effective in offsetting changes in the cash flows and/or forecasted cash flows of the hedged items. In assessing the valuation of the hedges, the Company uses standard market conventions and techniques such as discounted cash flow analysis, option pricing models, and termination costs at each balance sheet date. All methods of assessing fair value result in a general approximation of value, and such value may never actually be realized. |
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. All wholly-owned corporate subsidiaries of the Operating Partnership have elected to be a TRS or qualify as a REIT. The TRS's are subject to federal and state income taxes and file separate tax returns. As a pass through entity, the Operating Partnership generally does not pay taxes, but its taxable income or loss is reported by its partners, of which the Parent Company, as general partner and approximately 99.6% 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 (2016 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 Coronavirus Aid, Relief, and Economic Security ("CARES") Act was signed into U.S. law on March 27, 2020 and provided an estimated $2.2 trillion to fight the COVID-19 pandemic and stimulate the U.S. economy. The assistance includes tax relief and government loans, grants and investments for entities in affected industries. The Company is currently evaluating the programs and tax benefits that may apply to its operations including the corporate net operating loss carryback, increases in the interest expense limitation, employee retention credit, and deferrals of both employer payroll taxes and corporate estimated taxes. |
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 sell all or a portion of a development upon completion. The Company's revenues and net income are generated from the operation of its investment portfolio. The Company also earns fees for services provided to manage and lease retail shopping centers owned through joint ventures. The Company's portfolio is located throughout the United States. Management does not distinguish or group its operations on a geographical basis for purposes of allocating resources or capital. The Company 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 20% 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. |
Recent Accounting Pronouncements | ( o ) 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: Accounting Standard Updates (“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. This ASU also applies to how the Company evaluates impairments of any available-for-sale debt securities and any non-operating lease receivables arising from leases classified as sales-type or direct finance leases. January 2020 The Company has completed its evaluation and adoption of this standard, which resulted in changes in evaluating impairment of its available-for-sale debt securities. Declines in fair value below amortized cost resulting from credit related factors will be reflected in earnings, within Net investment income in the accompanying Consolidated Statements of Operations. Changes in value from market related factors continue to be recognized in Other comprehensive income (“OCI”). The Company’s investments in available-for-sale debt securities are invested in investment grade quality holdings or U.S. government backed securities, and are well diversified. During the year ended December 31, 2020, the Company did not recognize any allowance for credit loss. Additionally, the Company’s non-operating lease receivables experienced no credit losses during the year ended December 31, 2020, and the Company has no other financial instruments, such as lease receivables arising from sales-type or direct finance leases, subject to this ASU. 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 Company has completed its evaluation and adoption of this standard with no additional changes in its accounting for operating leases and related receivables. 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 completed its evaluation and adoption of this new standard. The Company does not have any assets or liabilities measured to fair value requiring modified disclosures at December 31, 2020. See note 11 for fair value disclosures Standard Description Date of adoption Effect on the financial statements or other significant matters Recently adopted: 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 completed its evaluation and adoption of this standard. Qualifying implementation costs incurred in a cloud computing arrangement that is a service contract are no longer expensed as incurred but rather are deferred within Other assets and amortized to earnings, within General and administrative expense in the accompanying Consolidated Statements of Operations, over the term of the arrangement. Cash flows attributable to the service arrangements, including implementation thereof, are reflected as Operating cash flows within the Consolidated Statements of Cash Flows. ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting In March 2020, the Financial Accounting Standards Board (“FASB”) issued ASU 2020-04, Reference Rate Reform (Topic 848). ASU 2020-04 contains practical expedients for reference rate reform related activities that impact debt, leases, derivatives, and other contracts. The guidance in ASU 2020-04 is optional and may be elected over time as reference rate reform activities occur. March 2020 through December 31, 2022 The Company has elected to apply the hedge accounting expedients related to probability and the assessments of effectiveness for future LIBOR-indexed cash flows to assume that the index upon which future hedged transactions will be based matches the index on the corresponding derivatives. Application of these expedients preserves the presentation of derivatives consistent with past presentation. As additional index changes in the market occur, the Company will evaluate the impact of the guidance and may apply other elections as applicable. Not yet adopted: ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes The amendments in this update simplify the accounting for income taxes by removing certain exceptions to the general principles in Topic 740, Income Taxes Notable changes of potential impact include income-based franchise taxes and interim period recognition of enacted changes in tax laws or rates. January 2021 The Company has evaluated this update and determined it will not have a material impact to its financial condition, results of operations, cash flows or related footnote disclosures. |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Accounting Changes And Error Corrections [Abstract] | |
Schedule of Collection Rates of Pro-Rata Base Rent Billed by Quarter | As of February 8, 2021, we experienced sequential improvement in our collection rates of Pro-rata base rent billed by quarter in 2020 as follows: Q2 Q3 Q4 Base Rent Collections 79% 89% 92% |
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, 2020 December 31, 2019 Assets Net real estate investments (1) $ 127,240 325,464 Cash, cash equivalents, and restricted cash (1) 4,496 57,269 Liabilities Notes payable 6,340 17,740 Equity Limited partners’ interests in consolidated partnerships 28,685 30,655 |
Components of Tenant and Other Receivables | The following table represents the components of Tenant and other receivables, net of amounts considered uncollectible, in the accompanying Consolidated Balance Sheets: December 31, (in thousands) 2020 2019 Tenant receivables $ 39,658 35,526 Straight-line rent receivables 86,615 107,087 Other receivables (1) 17,360 26,724 Total tenant and other receivables, net $ 143,633 169,337 ( 1 ) Other receivables include construction receivables, insurance receivables, and amounts due from real estate partnerships for Management, transaction and other fee income. |
Revenues and Other Receivables | All income from contracts with the Company’s real estate partnerships is included within Management, transaction and other fees on the Consolidated Statements of Operations. The primary components of these revenue streams, the timing of satisfying the performance obligations, and amounts are as follows: Year ended December 31, (in thousands) Timing of satisfaction of performance obligations 2020 2019 2018 Management, transaction, and other fees: Property management services Over time $ 14,444 14,744 14,663 Asset management services Over time 6,963 7,135 7,213 Leasing services Point in time 3,150 3,692 4,044 Other transaction fees Point in time 1,944 4,065 2,574 Total management, transaction, and other fees $ 26,501 29,636 28,494 |
Property, Plant and Equipment | The following table details the components of Real estate assets in the Consolidated Balance Sheets: (in thousands) December 31, 2020 December 31, 2019 Land $ 4,230,989 $ 4,288,695 Land improvements 630,264 607,624 Buildings 5,083,660 5,101,061 Building and tenant improvements 997,704 946,034 Construction in progress 159,241 151,880 Total real estate assets $ 11,101,858 11,095,294 |
Schedule of New Accounting Pronouncements and Changes in Accounting Principles | The following table provides a brief description of recent accounting pronouncements and expected impact on our financial statements: Standard Description Date of adoption Effect on the financial statements or other significant matters Recently adopted: Accounting Standard Updates (“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. This ASU also applies to how the Company evaluates impairments of any available-for-sale debt securities and any non-operating lease receivables arising from leases classified as sales-type or direct finance leases. January 2020 The Company has completed its evaluation and adoption of this standard, which resulted in changes in evaluating impairment of its available-for-sale debt securities. Declines in fair value below amortized cost resulting from credit related factors will be reflected in earnings, within Net investment income in the accompanying Consolidated Statements of Operations. Changes in value from market related factors continue to be recognized in Other comprehensive income (“OCI”). The Company’s investments in available-for-sale debt securities are invested in investment grade quality holdings or U.S. government backed securities, and are well diversified. During the year ended December 31, 2020, the Company did not recognize any allowance for credit loss. Additionally, the Company’s non-operating lease receivables experienced no credit losses during the year ended December 31, 2020, and the Company has no other financial instruments, such as lease receivables arising from sales-type or direct finance leases, subject to this ASU. 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 Company has completed its evaluation and adoption of this standard with no additional changes in its accounting for operating leases and related receivables. 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 completed its evaluation and adoption of this new standard. The Company does not have any assets or liabilities measured to fair value requiring modified disclosures at December 31, 2020. See note 11 for fair value disclosures Standard Description Date of adoption Effect on the financial statements or other significant matters Recently adopted: 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 completed its evaluation and adoption of this standard. Qualifying implementation costs incurred in a cloud computing arrangement that is a service contract are no longer expensed as incurred but rather are deferred within Other assets and amortized to earnings, within General and administrative expense in the accompanying Consolidated Statements of Operations, over the term of the arrangement. Cash flows attributable to the service arrangements, including implementation thereof, are reflected as Operating cash flows within the Consolidated Statements of Cash Flows. ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting In March 2020, the Financial Accounting Standards Board (“FASB”) issued ASU 2020-04, Reference Rate Reform (Topic 848). ASU 2020-04 contains practical expedients for reference rate reform related activities that impact debt, leases, derivatives, and other contracts. The guidance in ASU 2020-04 is optional and may be elected over time as reference rate reform activities occur. March 2020 through December 31, 2022 The Company has elected to apply the hedge accounting expedients related to probability and the assessments of effectiveness for future LIBOR-indexed cash flows to assume that the index upon which future hedged transactions will be based matches the index on the corresponding derivatives. Application of these expedients preserves the presentation of derivatives consistent with past presentation. As additional index changes in the market occur, the Company will evaluate the impact of the guidance and may apply other elections as applicable. Not yet adopted: ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes The amendments in this update simplify the accounting for income taxes by removing certain exceptions to the general principles in Topic 740, Income Taxes Notable changes of potential impact include income-based franchise taxes and interim period recognition of enacted changes in tax laws or rates. January 2021 The Company has evaluated this update and determined it will not have a material impact to its financial condition, results of operations, cash flows or related footnote disclosures. |
Real Estate Investments (Tables
Real Estate Investments (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Real Estate [Abstract] | |
Schedule of business acquisitions | The following tables detail consolidated shopping centers acquired or land acquired for development or redevelopment for the periods set forth below: (in thousands) December 31, 2020 Date Purchased Property Name City/State Property Type Ownership Purchase Price Debt Assumed, Net of Premiums Intangible Assets Intangible Liabilities 1/1/20 Country Walk Plaza (1) Miami, FL Operating 100% $ 39,625 16,359 3,294 2,452 (1) The purchase price presented above reflects the purchase price for 100% of the property, of which the Company previously owned a 30% equity interest prior to acquiring the other partner’s interest and gaining control (in thousands) December 31, 2019 Date Purchased Property Name City/State Property Type Ownership Purchase Price Debt Assumed, Net of Premiums Intangible Assets Intangible Liabilities 1/8/19 Pablo Plaza (1) Jacksonville, FL Operating 100% $ 600 — — — 2/8/19 Melrose Market Seattle, WA Operating 100% 15,515 — 941 358 6/18/19 The Field at Commonwealth Ph II (2) Chantilly, VA Development 100% 4,083 — — — 6/21/19 Culver Public Market Culver City, CA Development 100% 1,279 — — — 6/28/19 6401 Roosevelt Seattle, WA Operating 100% 3,550 — — — 7/1/19 The Pruneyard Campbell, CA Operating 100% 212,500 — 16,991 5,833 9/17/19 Circle Marina Center Long Beach, CA Operating 100% 50,000 — 3,717 962 Total property acquisitions $ 287,527 — 21,649 7,153 (1) The Company purchased (2) The Company purchased The Field at Commonwealth Ph II, which is land adjacent to an existing operating property, for future development |
Property Dispositions (Tables)
Property Dispositions (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Discontinued Operations And Disposal Groups [Abstract] | |
Schedule of Properties Disposed of | The following table provides a summary of consolidated shopping centers and consolidated land parcels disposed of during the periods set forth below: Year ended December 31, (in thousands, except number sold data) 2020 2019 2018 Net proceeds from sale of real estate investments $ 189,444 (1) 137,572 250,445 Gain on sale of real estate, net of tax $ 67,465 24,242 28,343 Provision for impairment of real estate sold $ 958 1,836 31,041 Number of operating properties sold 6 7 10 Number of land parcels sold 11 6 9 Percent interest sold 50% - 100% 100 % 100 % ( 1 ) Includes proceeds from repayment of a short-term note on the sale of one of the properties, issued at closing and repaid during the same three months ended March 31, 2020. |
Investments in Real Estate Pa_2
Investments in Real Estate Partnerships (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
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, 2020 (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% 67 $ 179,728 1,583,097 25,425 56,244 New York Common Retirement Fund (NYC) (1) 30.00% 4 27,627 205,332 488 4,241 Columbia Regency Retail Partners, LLC (Columbia I) 20.00% 7 8,699 136,120 1,030 5,383 Columbia Regency Partners II, LLC (Columbia II) 20.00% 13 37,882 377,246 1,045 5,103 Cameron Village, LLC (Cameron) 30.00% 1 10,108 94,551 757 2,531 RegCal, LLC (RegCal) 25.00% 6 25,908 107,283 1,296 5,397 US Regency Retail I, LLC (USAA) (2) 20.01% 7 — 85,006 790 3,948 Other investments in real estate partnerships (3) 35.00% - 50.00% 9 177,203 478,592 3,338 8,574 Total investments in real estate partnerships 114 $ 467,155 3,067,227 34,169 91,421 (1) On January 1, 2020, the Company purchased the remaining 70% of a property owned by the NYC partnership (Country Walk Plaza), as discussed in note 2, and therefore all earnings of this property are included in consolidated results from the date of acquisition and excluded from partnership earnings. ( 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 $4.4 million, which is recorded within Accounts Payable and other liabilities in the Consolidated Balance Sheets. (3 ) In January 2020, the Company purchased an additional 16.62% interest in Town and Country Shopping Center, bringing its total ownership interest to 35%. 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. The summarized balance sheet information for the investments in real estate partnerships, on a combined basis, is as follows: December 31, (in thousands) 2020 2019 Investments in real estate, net $ 2,817,713 2,917,415 Acquired lease intangible assets, net 32,607 40,549 Other assets 216,907 200,920 Total assets $ 3,067,227 3,158,884 Notes payable $ 1,557,043 1,577,467 Acquired lease intangible liabilities, net 33,223 44,387 Other liabilities 97,321 96,388 Capital - Regency 509,873 508,875 Capital - Third parties 869,767 931,767 Total liabilities and capital $ 3,067,227 3,158,884 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) 2020 2019 Capital - Regency $ 509,873 508,875 Basis difference (47,119 ) (43,296 ) Negative investment in USAA (1) 4,401 3,943 Investments in real estate partnerships $ 467,155 469,522 (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) 2020 2019 2018 Total revenues $ 381,094 417,053 414,631 Operating expenses: Depreciation and amortization 101,590 97,844 99,847 Operating and maintenance 65,146 65,811 66,299 General and administrative 5,870 6,201 5,697 Real estate taxes 53,747 53,410 54,119 Other operating expenses 3,126 2,709 2,700 Total operating expenses $ 229,479 225,975 228,662 Other expense (income): Interest expense, net 66,786 75,449 73,508 Gain on sale of real estate (7,146 ) (64,798 ) (16,624 ) Early extinguishment of debt 554 — — Provision for impairment, net of tax — 9,223 — Total other expense (income) 60,194 19,874 56,884 Net income of the Partnerships $ 91,421 171,204 129,085 The Company's share of net income of the Partnerships $ 34,169 60,956 42,974 Acquisitions The following table provides a summary of shopping centers and land parcels acquired through our unconsolidated real estate partnerships during 2020, which had no such acquisitions in 2019: (in thousands) Year ended December 31, 2020 Date Purchased Property Name City/State Property Type Co-investment Partner Ownership % Purchase Price Debt Assumed, Net of Premiums Intangible Assets Intangible Liabilities 11/13/20 Eastfield at Baybrook Houston, TX Development Other 50.00% $ 4,491 — — — 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) 2020 2019 2018 Proceeds from sale of real estate investments $ 27,974 142,754 27,144 Gain on sale of real estate $ 7,147 64,798 16,624 The Company's share of gain on sale of real estate $ 2,413 29,422 3,608 Number of operating properties sold 2 4 1 Number of land out-parcels sold — — 2 Notes Payable Scheduled principal repayments on notes payable held by our unconsolidated investments in real estate partnerships as of December 31, 2020, 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 2021 $ 11,257 333,068 15,635 359,960 124,100 2022 7,736 254,873 — 262,609 97,465 2023 3,196 171,608 — 174,804 65,137 2024 1,796 33,690 — 35,486 14,217 2025 2,168 146,000 — 148,168 44,853 Beyond 5 Years 10,859 574,321 — 585,180 191,940 Net unamortized loan costs, debt premium / (discount) — (9,164 ) — (9,164 ) (3,054 ) Total notes payable $ 37,012 1,504,396 15,635 1,557,043 534,658 These fixed and variable rate loans are all non-recourse to the partnerships, and mature through 2034, with 91.5% having a weighted average fixed interest rate of 4.1%. The remaining notes payable float over LIBOR and had a weighted average variable interest rate of 2.4% at December 31, 2020. 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 consolidated land parcels disposed of during the periods set forth below: Year ended December 31, (in thousands, except number sold data) 2020 2019 2018 Net proceeds from sale of real estate investments $ 189,444 (1) 137,572 250,445 Gain on sale of real estate, net of tax $ 67,465 24,242 28,343 Provision for impairment of real estate sold $ 958 1,836 31,041 Number of operating properties sold 6 7 10 Number of land parcels sold 11 6 9 Percent interest sold 50% - 100% 100 % 100 % ( 1 ) Includes proceeds from repayment of a short-term note on the sale of one of the properties, issued at closing and repaid during the same three months ended March 31, 2020. |
Schedule of Related Party Transactions | 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) 2020 2019 2018 Asset management, property management, leasing, and investment and financing services $ 26,618 28,878 27,873 |
Unconsolidated Properties [Member] | |
Schedule of Equity Method Investments [Line Items] | |
Schedule of Business Acquisitions, by Acquisition | The following table provides a summary of shopping centers and land parcels acquired through our unconsolidated real estate partnerships during 2020, which had no such acquisitions in 2019: (in thousands) Year ended December 31, 2020 Date Purchased Property Name City/State Property Type Co-investment Partner Ownership % Purchase Price Debt Assumed, Net of Premiums Intangible Assets Intangible Liabilities 11/13/20 Eastfield at Baybrook Houston, TX Development Other 50.00% $ 4,491 — — — |
Schedule of Properties Disposed of | The following table provides a summary of shopping centers and land parcels disposed of through our unconsolidated real estate partnerships: Year ended December 31, (in thousands) 2020 2019 2018 Proceeds from sale of real estate investments $ 27,974 142,754 27,144 Gain on sale of real estate $ 7,147 64,798 16,624 The Company's share of gain on sale of real estate $ 2,413 29,422 3,608 Number of operating properties sold 2 4 1 Number of land out-parcels sold — — 2 |
Other Assets (Tables)
Other Assets (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
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, 2020 December 31, 2019 Goodwill $ 173,868 307,434 Investments 60,692 50,354 Prepaid and other 17,802 18,169 Derivative assets — 2,987 Furniture, fixtures, and equipment, net 6,560 7,098 Deferred financing costs, net 2,524 4,687 Total other assets $ 261,446 390,729 |
Schedule of Goodwill | The following table presents the goodwill balances and activity during the year to date periods ended: December 31, 2020 December 31, 2019 (in thousands) Goodwill Accumulated Impairment Losses Total Goodwill Accumulated Impairment Losses Total Beginning of year balance $ 310,388 (2,954 ) 307,434 316,858 (2,715 ) 314,143 Goodwill allocated to Provision for impairment — (132,179 ) (132,179 ) — (2,954 ) (2,954 ) Goodwill allocated to Properties held for sale (1,191 ) 1,191 — (2,472 ) — (2,472 ) Goodwill associated with disposed reporting units: — — Goodwill allocated to Provision for impairment — — — (1,779 ) 1,779 — Goodwill allocated to Gain on sale of real estate (1,784 ) 397 (1,387 ) (2,219 ) 936 (1,283 ) End of year balance $ 307,413 (133,545 ) 173,868 310,388 (2,954 ) 307,434 |
Acquired Lease Intangibles (Tab
Acquired Lease Intangibles (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
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) 2020 2019 In-place leases $ 414,298 $ 438,188 Above-market leases 59,381 63,944 Total intangible assets 473,679 502,132 Accumulated amortization (284,880 ) (259,310 ) Acquired lease intangible assets, net $ 188,799 242,822 Below-market leases 523,678 558,936 Accumulated amortization (145,966 ) (131,676 ) Acquired lease intangible liabilities, net $ 377,712 427,260 The following table provides a summary of amortization and net accretion amounts from acquired lease intangibles: Year ended December 31, (in thousands) 2020 2019 2018 Line item in Consolidated Statements of Operations In-place lease amortization $ 48,297 60,250 76,649 Depreciation and amortization Above-market lease amortization 7,658 9,112 10,433 Lease income Below-market ground lease amortization (1) — — 1,688 Operating and maintenance Acquired lease intangible asset amortization $ 55,955 69,362 88,770 Below-market lease amortization $ 50,103 54,730 45,561 Lease income Above-market ground lease amortization (1) — — 94 Operating and maintenance Acquired lease intangible liability amortization $ 50,103 54,730 45,655 (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 2021 $ 31,120 $ 24,237 2022 24,137 22,265 2023 19,580 21,183 2024 15,364 19,122 2025 12,604 18,540 |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Leases [Abstract] | |
Operating Lease, Lease Income | The following table provides a disaggregation of lease income recognized as either fixed or variable lease income based on the criteria specified in ASC Topic 842: (in thousands) December 31, 2020 December 31, 2019 Operating lease income Fixed and in-substance fixed lease income $ 807,603 813,444 Variable lease income 247,384 247,861 Other lease related income, net: Above/below market rent and tenant rent inducement amortization, net 42,219 45,392 Uncollectible straight line rent (34,673 ) (7,002 ) Uncollectible amounts billable in lease income (82,367 ) (5,394 ) Total lease income $ 980,166 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, 2020 2021 $ 754,396 2022 676,083 2023 578,023 2024 480,768 2025 372,377 Thereafter 1,329,274 Total $ 4,190,921 |
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, 2020 December 31, 2019 Fixed operating lease expense Ground leases $ 13,716 13,982 Office leases 4,334 4,229 Total fixed operating lease expense 18,050 18,211 Variable lease expense Ground leases 1,044 1,693 Office leases 585 552 Total variable lease expense 1,629 2,245 Total lease expense $ 19,679 20,456 Cash paid for amounts included in the measurement of operating lease liabilities Operating cash flows for operating leases $ 15,003 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, 2020, 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 2021 $ 10,778 4,654 15,432 2022 10,837 3,379 14,216 2023 11,054 2,580 13,634 2024 11,103 2,114 13,217 2025 11,106 1,961 13,067 Thereafter 542,184 2,777 544,961 Total undiscounted lease liabilities $ 597,062 17,465 614,527 Present value discount (392,848 ) (1,289 ) (394,137 ) Lease liabilities $ 204,214 16,176 220,390 Weighted average discount rate 5.2 % 3.8 % Weighted average remaining term (in years) 48.1 5.0 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
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) 2020 2019 2018 Dividend per share $ 2.19 (1) 2.34 2.22 Ordinary income 100 % 97 % 98 % Capital gain — % 3 % — % Qualified dividend income — % — % 2 % Section 199A dividend 100 % 97 % 98 % (1) |
Schedule of Components of Income Tax Expense (Benefit) | Our consolidated expense (benefit) for income taxes for the years ended December 31, 2020, 2019, and 2018 was as follows: Year ended December 31, (in thousands) 2020 2019 2018 Income tax expense (benefit): Current $ 2,157 1,576 5,667 Deferred (891 ) (331 ) (5,145 ) Total income tax expense (benefit) (1) $ 1,266 1,245 522 (1) Includes $(355,000), $757,000 and $706,000 of tax (benefit) expense presented within Other operating expenses during the years ended December 31, 2020, 2019, and 2018, respectively. Additionally, $1.6 million, $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, 2020, 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) 2020 2019 2018 Computed expected tax (benefit) expense $ (3,665 ) 1,587 (584 ) State income tax, net of federal benefit (593 ) 650 636 Valuation allowance 1,043 (91 ) (392 ) Permanent items 5,079 (819 ) 1,067 All other items (598 ) (82 ) (205 ) Total income tax expense (1) 1,266 1,245 522 Income tax expense attributable to operations (1) $ 1,266 1,245 522 (1) Includes ( |
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) 2020 2019 Deferred tax assets Provision for impairment $ 508 — Deferred interest expense — 1,341 Fixed assets 1,077 — Net operating loss carryforward 109 106 Other 771 88 Deferred tax assets 2,465 1,535 Valuation allowance (2,465 ) (680 ) Deferred tax assets, net $ — 855 Deferred tax liabilities Straight line rent $ (88 ) (100 ) Fixed assets (12,943 ) (14,404 ) Deferred tax liabilities (13,031 ) (14,504 ) Net deferred tax liabilities $ (13,031 ) (13,649 ) |
Notes Payable and Unsecured C_2
Notes Payable and Unsecured Credit Facilities (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
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) 2020 2019 Notes payable: Fixed rate mortgage loans 10/1/2036 4.3% 4.0% $ 272,749 $ 342,020 Variable rate mortgage loans (1) 6/2/2027 2.8% 2.9% 146,046 148,389 Fixed rate unsecured public and private debt 3/15/2049 3.8% 4.0% 3,239,609 2,944,752 Total notes payable $ 3,658,404 3,435,161 Unsecured credit facilities: Line of Credit (2) 3/23/2022 1.0% 1.4% $ — $ 220,000 Term Loan (3) 1/5/2022 2.0% 2.1% 264,680 264,383 Total unsecured credit facilities $ 264,680 484,383 Total debt outstanding $ 3,923,084 3,919,544 (1) Includes six mortgages with interest rates that vary on LIBOR based formulas. Four of these variable rate loans have interest rate swaps in place to fix the interest rates. The effective fixed rates of the loans range from 2.5% to 4.1%. (2) Weighted average effective rate for the Line is calculated based on a fully drawn Line balance. During February 2021, the Company amended its Line agreement to extend the maturity to March 23, 2025 retaining the same overall borrowing capacity of $1.25 billion and credit-based interest rate spread over LIBOR currently equal to 0.875%. ( 3 ) In January 2021, the Company repaid in full the $265 million Term Loan, using cash on hand. |
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, 2020 Scheduled Principal Payments and Maturities by Year: Scheduled Principal Payments Mortgage Loan Maturities Unsecured Maturities (1) Total 2021 $ 11,598 $ 31,562 $ — 43,160 2022 11,797 5,848 265,000 (2) 282,645 2023 10,124 65,724 — 75,848 2024 5,301 90,744 250,000 346,045 2025 4,207 40,000 250,000 294,207 Beyond 5 Years 17,505 121,303 2,775,000 2,913,808 Unamortized debt premium/(discount) and issuance costs — 3,082 (35,711 ) (32,629 ) Total notes payable $ 60,532 358,263 3,504,289 3,923,084 (1) Includes unsecured public and private debt and unsecured credit facilities. ( 2 ) In January 2021, the Company repaid in full the $265 million Term Loan. |
Derivative Financial Instrume_2
Derivative Financial Instruments (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
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 2020 2019 8/1/16 1/5/22 (2) $ 265,000 1 Month LIBOR with Floor 1.053 % $ (2,472 ) 2,674 4/7/16 4/1/23 19,405 1 Month LIBOR 1.303 % (494 ) 148 12/1/16 11/1/23 32,369 1 Month LIBOR 1.490 % (1,181 ) 84 9/17/19 3/17/25 24,000 1 Month LIBOR 1.542 % (1,288 ) 81 6/2/17 6/2/27 36,592 1 Month LIBOR with Floor 2.366 % (3,856 ) (1,515 ) Total derivative financial instruments $ (9,291 ) 1,472 (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 ) In January 2021, the Company early settled the $265 million interest rate swap in connection with its repayment of the Term Loan. |
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) 2020 2019 2018 2020 2019 2018 2020 2019 2018 Interest rate swaps $ (19,187 ) (15,585 ) 402 Interest expense, net $ 8,790 3,269 5,342 Interest expense, net $ 156,678 151,264 148,456 Early extinguishment of debt (1) $ 2,472 — — Early extinguishment of debt $ 21,837 11,982 11,172 (1) At December 31, 2020, based on intent to repay the Term Loan in January 2021, the Company recognized the Accumulated other comprehensive loss for the Term Loan swap in earnings within Early extinguishment of debt. |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
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, 2020 2019 (in thousands) Carrying Amount Fair Value Carrying Amount Fair Value Financial liabilities: Notes payable $ 3,658,405 4,102,382 $ 3,435,161 3,688,604 Unsecured credit facilities $ 264,679 265,226 $ 484,383 489,496 |
Summary of assets measured on recurring basis | The following tables present the placement in the fair value hierarchy of assets and liabilities that are measured at fair value on a recurring basis: Fair Value Measurements as of December 31, 2020 (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 $ 44,986 44,986 — — Available-for-sale debt securities 15,706 — 15,706 — Total $ 60,692 44,986 15,706 — Liabilities: Interest rate derivatives $ (9,291 ) — (9,291 ) — 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 ) — |
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, 2020 (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 $ 25,000 — 25,000 — (17,532 ) 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 ) |
Equity and Capital (Tables)
Equity and Capital (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
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) 2020 2019 Partnership units owned by the general partner 169,680 167,571 Partnership units owned by the limited partners 765 746 Total partnership units outstanding 170,445 168,317 Percentage of partnership units owned by the general partner 99.6 % 99.6 % |
Stock-Based Compensation (Table
Stock-Based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
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) 2020 2019 2018 Restricted stock (1) $ 14,248 16,254 16,745 Directors' fees paid in common stock 452 410 399 Capitalized stock-based compensation (2) (1,119 ) (2,325 ) (3,509 ) Stock-based compensation, net of capitalization $ 13,581 14,339 13,635 (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, 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, 2020 Number of Shares Intrinsic Value (in thousands) Weighted Average Grant Price Non-vested as of December 31, 2019 623,090 Time-based awards granted (1) (4) 144,497 $ 57.17 Performance-based awards granted (2) (4) 8,898 $ 62.04 Market-based awards granted (3) (4) 109,030 $ 73.54 Change in market-based awards earned for performance (3) 22,906 $ 62.39 Vested (5) (244,694 ) $ 58.94 Forfeited (44,792 ) $ 63.45 Non-vested as of December 31, 2020 (6) 618,935 $ 28,217 (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, 2020 2019 2018 Volatility 18.50 % 19.30 % 19.20 % Risk free interest rate 1.30 % 2.43 % 2.26 % (4) The weighted-average grant price for restricted stock granted during the years is summarized below: Year ended December 31, 2020 2019 2018 Weighted-average grant price for restricted stock $ 64.14 $ 65.11 $ 63.50 (5) Year ended December 31, 2020 2019 2018 Intrinsic value of restricted stock vested $ 14,423 $ 17,684 $ 17,306 (6) As of December 31, 2020, 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, 2020 | |
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) 2020 2019 Location in Consolidated Balance Sheets Assets: Securities $ 40,964 36,849 Other assets Liabilities: Deferred compensation obligation $ 40,962 36,755 Accounts payable and other liabilities |
Earnings per Share and Unit (Ta
Earnings per Share and Unit (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
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) 2020 2019 2018 Numerator: Income attributable to common stockholders - basic $ 44,889 $ 239,430 249,127 Income attributable to common stockholders - diluted $ 44,889 $ 239,430 249,127 Denominator: Weighted average common shares outstanding for basic EPS 169,231 167,526 169,724 Weighted average common shares outstanding for diluted EPS (1) (2) 169,460 167,771 170,100 Income per common share – basic $ 0.27 $ 1.43 1.47 Income per common share – diluted $ 0.26 $ 1.43 1.46 (1) Includes the dilutive impact of unvested restricted stock. (2) Using the treasury stock method, 2019 weighted average common shares outstanding for basic and diluted earnings per share exclude 1.9 million shares issuable under the forward ATM equity offering as they would be anti-dilutive. These shares are included in 2020 weighted average common shares outstanding as they were settled in March 2020. |
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) 2020 2019 2018 Numerator: Income attributable to common unit holders - basic $ 45,092 $ 240,064 249,652 Income attributable to common unit holders - diluted $ 45,092 $ 240,064 249,652 Denominator: Weighted average common units outstanding for basic EPU 169,997 167,990 170,074 Weighted average common units outstanding for diluted EPU (1) (2) 170,225 168,235 170,450 Income per common unit – basic $ 0.27 $ 1.43 1.47 Income per common unit – diluted $ 0.26 $ 1.43 1.46 (1) Includes the dilutive impact of unvested restricted stock. (2) Using the treasury stock method, weighted average common shares outstanding for basic and diluted earnings per share exclude 1.9 million shares issuable under the forward ATM equity offering outstanding during 2019 as they would be anti-dilutive. |
Summary of Quarterly Financia_2
Summary of Quarterly Financial Data (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
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, 2020 and 2019: (in thousands except per share and per unit data) First Quarter Second Quarter Third Quarter Fourth Quarter Year ended December 31, 2020 Operating Data: Revenue $ 283,658 231,113 242,944 258,460 Net (loss) income attributable to common stockholders $ (25,332 ) 19,046 12,688 38,487 Net (loss) income attributable to exchangeable operating partnership units (115 ) 87 57 174 Net (loss) income attributable to common unit holders $ (25,447 ) 19,133 12,745 38,661 Net (loss) income attributable to common stock and unit holders per share and unit: Basic $ (0.15 ) 0.11 0.07 0.23 Diluted $ (0.15 ) 0.11 0.07 0.23 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 |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies - Organization and Principles of Consolidation (Details) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2020USD ($)retail_shopping_centerTenantAccountShoppingCentershares | Dec. 31, 2019USD ($)shares | Dec. 31, 2018USD ($) | Mar. 27, 2020USD ($) | |
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | ||||
Unsecured public and private notes | $ 200,000 | |||
General Partners' Capital Account, Units Outstanding | shares | 169,680,000 | 167,571,000 | ||
Partners' Capital Account, Units | shares | 170,445,184 | 168,317,000 | ||
Tax Basis of Investments, Unrealized Appreciation (Depreciation), Net | $ 2,700,000 | $ 2,800,000 | ||
Restricted Cash and Cash Equivalent | $ 2,377 | 2,542 | ||
Cash and cash equivalents and restricted original maturity | 90 days or less | |||
Concentration risk, percentage | 20.00% | |||
Number of tenant | TenantAccount | 0 | |||
Number of shopping center. | ShoppingCenter | 0 | |||
COVID-19 [Member] | ||||
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | ||||
Estimated stimulate package under CARES Act | $ 2,200,000,000 | |||
Parent Company [Member] | ||||
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | ||||
Restricted Cash and Cash Equivalent | $ 2,400 | $ 2,500 | ||
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 | 169,680,138 | |||
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 | 297 | |||
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 | 114 | |||
Development And Redevelopment | ||||
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | ||||
Interest costs capitalized | $ 4,400 | $ 4,200 | $ 7,000 | |
Maximum Period Of Time In Which Company Capitalizes Interest Costs | 12 months | |||
Development [Member] | ||||
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | ||||
Interest costs capitalized | $ 10,200 | $ 20,400 | $ 17,100 |
Summary of Significant Accoun_5
Summary of Significant Accounting Policies - Schedule of Collection Rates of Pro-Rata Base Rent Billed by Quarter (Details) | 3 Months Ended | ||
Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | |
Accounting Policies [Abstract] | |||
Base Rent Collections | 92.00% | 89.00% | 79.00% |
Summary of Significant Accoun_6
Summary of Significant Accounting Policies Schedule of Variable Interest Entities (Details) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020USD ($)retail_shopping_center | Dec. 31, 2019USD ($) | ||
Variable Interest Entity [Line Items] | |||
Variable Interest Entity, Consolidated, Carrying Amount, Assets | $ 10,936,904 | $ 11,132,253 | |
Variable Interest Entity, Consolidated, Carrying Amount, Liabilities | 4,878,757 | 4,842,292 | |
Noncontrolling Interest in Variable Interest Entity | 28,685 | 30,655 | |
Variable Interest Entity, Primary Beneficiary [Member] | |||
Variable Interest Entity [Line Items] | |||
Variable Interest Entity, Consolidated, Carrying Amount, Liabilities | 6,340 | 17,740 | |
Real Estate [Member] | Variable Interest Entity, Primary Beneficiary [Member] | |||
Variable Interest Entity [Line Items] | |||
Variable Interest Entity, Consolidated, Carrying Amount, Assets | [1] | 127,240 | 325,464 |
Cash and Cash Equivalents [Member] | Variable Interest Entity, Primary Beneficiary [Member] | |||
Variable Interest Entity [Line Items] | |||
Variable Interest Entity, Consolidated, Carrying Amount, Assets | [1] | $ 4,496 | $ 57,269 |
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 | 124 | ||
Consolidated Properties [Member] | |||
Variable Interest Entity [Line Items] | |||
Number of real estate properties | retail_shopping_center | 10 | ||
[1] | Included in the December 31, 2019 balances were real estate assets and cash held in Section 1031 like-kind exchanges, of which none remained at December 31, 2020. |
Summary of Significant Accoun_7
Summary of Significant Accounting Policies Revenues and Tenant and Other Receivables (Details) $ in Thousands | 12 Months Ended | ||||
Dec. 31, 2020USD ($)ft² | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Jan. 01, 2019USD ($) | ||
Schedule of management, transaction, and other fees [Line Items] | |||||
Management, transaction, and other fees | $ 26,501 | $ 29,636 | $ 28,494 | ||
Tenant and other receivables | 143,633 | 169,337 | |||
Lease liabilities | 220,390 | 222,918 | $ 225,400 | ||
Right of use assets, net | 287,827 | 292,786 | $ 297,800 | ||
Management, transaction, and other fee [Member] | |||||
Schedule of management, transaction, and other fees [Line Items] | |||||
Tenant and other receivables | 9,900 | 11,600 | |||
Property management services [Member] | |||||
Schedule of management, transaction, and other fees [Line Items] | |||||
Management, transaction, and other fees | 14,444 | 14,744 | 14,663 | ||
Asset management services [Member] | |||||
Schedule of management, transaction, and other fees [Line Items] | |||||
Management, transaction, and other fees | 6,963 | 7,135 | 7,213 | ||
Leasing services [Member] | |||||
Schedule of management, transaction, and other fees [Line Items] | |||||
Management, transaction, and other fees | 3,150 | 3,692 | 4,044 | ||
Other transaction fees [Member] | |||||
Schedule of management, transaction, and other fees [Line Items] | |||||
Management, transaction, and other fees | 1,944 | 4,065 | 2,574 | ||
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 | ||||
Tenant Receivables [Member] | |||||
Schedule of management, transaction, and other fees [Line Items] | |||||
Accounts and Notes Receivable, Net | 39,658 | 35,526 | |||
Straight-line Rent Receivables [Member] | |||||
Schedule of management, transaction, and other fees [Line Items] | |||||
Accounts and Notes Receivable, Net | 86,615 | 107,087 | |||
Other Receivable [Member] | |||||
Schedule of management, transaction, and other fees [Line Items] | |||||
Accounts and Notes Receivable, Net | [1] | 17,360 | 26,724 | ||
Parent Company [Member] | |||||
Schedule of management, transaction, and other fees [Line Items] | |||||
Accounts and Notes Receivable, Net | $ 143,633 | $ 169,337 | |||
COVID-19 [Member] | |||||
Schedule of management, transaction, and other fees [Line Items] | |||||
Number of rent deferrals | 1,600 | ||||
Deferred rent period | 3.3 months | ||||
Deferred rent repayment period | 9.7 months | ||||
Deferred rent receivables | $ 40,800 | ||||
Deferred rent on pro rata | 4.6 | ||||
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 | ||||
[1] | Other receivables include construction receivables, insurance receivables, and amounts due from real estate partnerships for Management, transaction and other fee income. |
Summary of Significant Accoun_8
Summary of Significant Accounting Policies - Properties in Development (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Property Plant And Equipment [Line Items] | |||
Total real estate assets | $ 11,101,858 | $ 11,095,294 | |
Other Cost and Expense, Operating | 10,500 | 2,500 | $ 1,900 |
Refundable deposits - development | |||
Property Plant And Equipment [Line Items] | |||
Nonrefundable deposits and other predevelopment costs | 25,300 | 17,700 | |
Parent Company [Member] | |||
Property Plant And Equipment [Line Items] | |||
Land | 4,230,989 | 4,288,695 | |
Land improvements | 630,264 | 607,624 | |
Buildings | 5,083,660 | 5,101,061 | |
Building and tenant improvements | 997,704 | 946,034 | |
Construction in progress | 159,241 | 151,880 | |
Total real estate assets | $ 11,101,858 | $ 11,095,294 |
Real Estate Investments Busines
Real Estate Investments Business Acquisitions (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Business Acquisition [Line Items] | ||
Purchase Price | $ 287,527 | |
Off-Market Favorable Lease [Member] | ||
Business Acquisition [Line Items] | ||
Intangible Assets | 21,649 | |
Off-Market Lease, Unfavorable [Member] | ||
Business Acquisition [Line Items] | ||
Intangible Assets | $ 7,153 | |
Country Walk Plaza [Member] | ||
Business Acquisition [Line Items] | ||
Date Purchased | Jan. 1, 2020 | |
Property Name | Country Walk Plaza (1) | |
City/State | Miami, FL | |
Ownership | 100.00% | |
Purchase Price | $ 39,625 | |
Debt Assumed, Net of Premiums | 16,359 | |
Country Walk Plaza [Member] | Off-Market Favorable Lease [Member] | ||
Business Acquisition [Line Items] | ||
Intangible Assets | 3,294 | |
Country Walk Plaza [Member] | Off-Market Lease, Unfavorable [Member] | ||
Business Acquisition [Line Items] | ||
Intangible Assets | $ 2,452 | |
Pablo Plaza [Member] | ||
Business Acquisition [Line Items] | ||
Date Purchased | Jan. 8, 2019 | |
Property Name | Pablo Plaza (1) | |
City/State | Jacksonville, FL | |
Ownership | 100.00% | |
Purchase Price | $ 600 | |
Melrose Market [Member] | ||
Business Acquisition [Line Items] | ||
Date Purchased | Feb. 8, 2019 | |
Property Name | Melrose Market | |
City/State | Seattle, WA | |
Ownership | 100.00% | |
Purchase Price | $ 15,515 | |
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 PhII [Member] | ||
Business Acquisition [Line Items] | ||
Date Purchased | Jun. 18, 2019 | |
Property Name | The Field at Commonwealth Ph II (2) | |
City/State | Chantilly, VA | |
Ownership | 100.00% | |
Purchase Price | $ 4,083 | |
Culver Public Market [Member] | ||
Business Acquisition [Line Items] | ||
Date Purchased | Jun. 21, 2019 | |
Property Name | Culver Public Market | |
City/State | Culver City, CA | |
Ownership | 100.00% | |
Purchase Price | $ 1,279 | |
6401 Roosevelt [Member] | ||
Business Acquisition [Line Items] | ||
Date Purchased | Jun. 28, 2019 | |
Property Name | 6401 Roosevelt | |
City/State | Seattle, WA | |
Ownership | 100.00% | |
Purchase Price | $ 3,550 | |
The Pruneyard Shopping Center [Member] | ||
Business Acquisition [Line Items] | ||
Date Purchased | Jul. 1, 2019 | |
Property Name | The Pruneyard | |
City/State | Campbell, CA | |
Ownership | 100.00% | |
Purchase Price | $ 212,500 | |
The Pruneyard Shopping Center [Member] | Off-Market Favorable Lease [Member] | ||
Business Acquisition [Line Items] | ||
Intangible Assets | 16,991 | |
The Pruneyard Shopping Center [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 | |
Ownership | 100.00% | |
Purchase Price | $ 50,000 | |
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 |
Real Estate Investments Busin_2
Real Estate Investments Business Acquisitions (Parenthetical) (Details) - a | Dec. 31, 2020 | Dec. 31, 2019 |
Country Walk Plaza [Member] | ||
Business Acquisition [Line Items] | ||
Percentage of purchase price of property | 100.00% | |
Percentage of equity interest acquired prior | 30.00% | |
Pablo Plaza [Member] | ||
Business Acquisition [Line Items] | ||
Purchase of building for redevelopment | 0.17 |
Property Dispositions (Details)
Property Dispositions (Details) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020USD ($)property | Dec. 31, 2019USD ($)property | Dec. 31, 2018USD ($)property | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Net proceeds from sale of real estate investments | $ 189,444 | $ 137,572 | $ 250,445 |
Gain on sale of real estate, net of tax | 67,465 | 24,242 | 28,343 |
Provision for impairment of real estate, net of tax | $ 18,536 | $ 54,174 | $ 38,437 |
Number of properties held for sale | property | 2 | ||
Wholly Owned Properties [Member] | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Percent interest sold | 100.00% | 100.00% | |
Wholly Owned Properties [Member] | Minimum [Member] | Operating Properties [Member] | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Percent interest sold | 50.00% | ||
Wholly Owned Properties [Member] | Maximum [Member] | Land Parcel [Member] | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Percent interest sold | 100.00% | ||
Real Estate Sold [Member] | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Provision for impairment of real estate, net of tax | $ 958 | $ 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 | 6 | 7 | 10 |
Land [Member] | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Number of real estate properties sold | property | 11 | 6 | 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, 2020USD ($)property | Dec. 31, 2019USD ($)property | Dec. 31, 2018USD ($) | Jan. 31, 2020 | |||
Schedule of Equity Method Investments [Line Items] | ||||||
Ownership Percentage | 0.00% | 0.00% | ||||
Real Estate Partnerships, Number of Properties | property | 114 | 116 | ||||
Investments in real estate partnerships | $ 467,155 | $ 469,522 | ||||
Total assets of the Partnership | 10,936,904 | 11,132,253 | ||||
Income (Loss) from Equity Method Investments | 34,169 | 60,956 | $ 42,974 | |||
Net income | 47,317 | 243,258 | $ 252,325 | |||
Total Assets [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Total assets of the Partnership | 3,067,227 | 3,158,884 | ||||
Net Income [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Net income | $ 91,421 | $ 171,204 | ||||
GRI - Regency, LLC [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Ownership Percentage | 40.00% | 40.00% | ||||
Real Estate Partnerships, Number of Properties | property | 67 | 68 | ||||
Investments in real estate partnerships | $ 179,728 | $ 187,597 | ||||
Income (Loss) from Equity Method Investments | 25,425 | 43,536 | ||||
GRI - Regency, LLC [Member] | Total Assets [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Total assets of the Partnership | 1,583,097 | 1,612,459 | ||||
GRI - Regency, LLC [Member] | Net Income [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Net income | $ 56,244 | $ 96,721 | ||||
Equity One JV Portfolio, LLC [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Ownership Percentage | 30.00% | [1] | 30.00% | [2] | ||
Real Estate Partnerships, Number of Properties | property | 4 | [1] | 6 | [2] | ||
Investments in real estate partnerships | $ 27,627 | [1] | $ 41,422 | [2] | ||
Income (Loss) from Equity Method Investments | 488 | [1] | (9,967) | [2] | ||
Equity One JV Portfolio, LLC [Member] | Total Assets [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Total assets of the Partnership | 205,332 | [1] | 260,512 | [2] | ||
Equity One JV Portfolio, LLC [Member] | Net Income [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Net income | $ 4,241 | [1] | $ (5,832) | [2] | ||
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 | $ 8,699 | $ 9,201 | ||||
Income (Loss) from Equity Method Investments | 1,030 | 1,626 | ||||
Columbia Regency Retail Partners, LLC [Member] | Total Assets [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Total assets of the Partnership | 136,120 | 139,253 | ||||
Columbia Regency Retail Partners, LLC [Member] | Net Income [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Net income | $ 5,383 | $ 8,406 | ||||
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 | $ 37,882 | $ 39,453 | ||||
Income (Loss) from Equity Method Investments | 1,045 | 1,748 | ||||
Columbia Regency Retail Partners, LLC [Member] | Total Assets [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Total assets of the Partnership | 377,246 | 385,960 | ||||
Columbia Regency Retail Partners, LLC [Member] | Net Income [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Net income | $ 5,103 | $ 8,742 | ||||
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 | $ 10,108 | $ 10,641 | ||||
Income (Loss) from Equity Method Investments | 757 | 1,062 | ||||
Cameron Village, LLC [Member] | Total Assets [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Total assets of the Partnership | 94,551 | 96,101 | ||||
Cameron Village, LLC [Member] | Net Income [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Net income | $ 2,531 | $ 3,572 | ||||
RegCal, LLC [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Ownership Percentage | 25.00% | 25.00% | ||||
Real Estate Partnerships, Number of Properties | property | 6 | 6 | ||||
Investments in real estate partnerships | $ 25,908 | $ 26,417 | ||||
Income (Loss) from Equity Method Investments | 1,296 | 3,796 | ||||
RegCal, LLC [Member] | Total Assets [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Total assets of the Partnership | 107,283 | 109,226 | ||||
RegCal, LLC [Member] | Net Income [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Net income | $ 5,397 | $ 16,276 | ||||
US Regency Retail 1, LLC [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Ownership Percentage | 20.01% | [3] | 20.01% | [4] | ||
Real Estate Partnerships, Number of Properties | property | 7 | [3] | 7 | [4] | ||
Investments in real estate partnerships | $ 0 | [3] | $ 0 | [4] | ||
Income (Loss) from Equity Method Investments | 790 | [3] | 1,028 | [4] | ||
US Regency Retail 1, LLC [Member] | Total Assets [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Total assets of the Partnership | 85,006 | [3] | 87,231 | [4] | ||
US Regency Retail 1, LLC [Member] | Net Income [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Net income | $ 3,948 | [3] | $ 5,137 | [4] | ||
Other Investments in Real Estate Partnerships [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Ownership Percentage | 9.38% | 35.00% | ||||
Real Estate Partnerships, Number of Properties | property | 9 | [5] | 8 | [6] | ||
Investments in real estate partnerships | $ 177,203 | [5] | $ 154,791 | [6] | ||
Income (Loss) from Equity Method Investments | 3,338 | [5] | 18,127 | [6] | ||
Other Investments in Real Estate Partnerships [Member] | Total Assets [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Total assets of the Partnership | 478,592 | [5] | 468,142 | [6] | ||
Other Investments in Real Estate Partnerships [Member] | Net Income [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Net income | $ 8,574 | [5] | $ 38,182 | [6] | ||
Other Investments in Real Estate Partnerships [Member] | Minimum [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Ownership Percentage | 35.00% | [5] | 18.38% | [6] | ||
Other Investments in Real Estate Partnerships [Member] | Maximum [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Ownership Percentage | 50.00% | [5] | 50.00% | [6] | ||
[1] | On January 1, 2020, the Company purchased the remaining 70% of a property owned by the NYC partnership (Country Walk Plaza), as discussed in note 2, and therefore all earnings of this property are included in consolidated results from the date of acquisition and excluded from partnership earnings. | |||||
[2] | 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. | |||||
[3] | 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 $4.4 million, which is recorded within Accounts Payable and other liabilities in the Consolidated Balance Sheets. | |||||
[4] | 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 $3.9 million, which is recorded within Accounts Payable and other liabilities in the Consolidated Balance Sheets. | |||||
[5] | In January 2020, the Company purchased an additional 16.62% interest in Town and Country Shopping Center, bringing its total ownership interest to 35%. | |||||
[6] | Includes our investment in the Town and Country shopping center, which began with an initial 9.38% ownership percent in 2018, with an additional 9.0% interest acquired during 2019. |
Investments in Real Estate Pa_4
Investments in Real Estate Partnerships - Schedule of Investments in Real Estate Partnerships (Parenthetical) (Details) - USD ($) $ in Thousands | 1 Months Ended | 3 Months Ended | 12 Months Ended | ||||
Jan. 31, 2020 | Sep. 30, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |||
Schedule of Equity Method Investments [Line Items] | |||||||
Ownership Percentage | 0.00% | 0.00% | |||||
Provision for impairment of real estate, net of tax | $ 18,536 | $ 54,174 | $ 38,437 | ||||
Other Investments in Real Estate Partnerships [Member] | |||||||
Schedule of Equity Method Investments [Line Items] | |||||||
Percentage of purchase of remaining property | 70.00% | ||||||
Additional Ownership Percentage Acquired | 16.62% | 9.00% | |||||
Ownership Percentage | 35.00% | 9.38% | |||||
US Regency Retail 1, LLC [Member] | |||||||
Schedule of Equity Method Investments [Line Items] | |||||||
Ownership Percentage | 20.01% | [1] | 20.01% | [2] | |||
US Regency Retail 1, LLC [Member] | Accounts Payable and Accrued Liabilities [Member] | |||||||
Schedule of Equity Method Investments [Line Items] | |||||||
Negative Investment Balance | $ 4,400 | $ 3,900 | |||||
Equity One JV Portfolio, LLC [Member] | |||||||
Schedule of Equity Method Investments [Line Items] | |||||||
Ownership Percentage | 30.00% | [3] | 30.00% | [4] | |||
Provision for impairment of real estate, net of tax | $ (10,900) | ||||||
[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 $4.4 million, which is recorded within Accounts Payable and other liabilities in the Consolidated Balance Sheets. | ||||||
[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] | On January 1, 2020, the Company purchased the remaining 70% of a property owned by the NYC partnership (Country Walk Plaza), as discussed in note 2, and therefore all earnings of this property are included in consolidated results from the date of acquisition and excluded from partnership earnings. | ||||||
[4] | During the third quarter of 2019, a $10.9 million impairment of real estate was recognized within the NYC partnership from changes in the expected hold periods of various properties. |
Investments in Real Estate Pa_5
Investments in Real Estate Partnerships - Balance Sheet Summarized Financial Information (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | |||
Schedule of Equity Method Investments [Line Items] | |||||
Investments in real estate, net | $ 2,817,713 | $ 2,917,415 | |||
Acquired lease intangible assets, net | 32,607 | 40,549 | |||
Other assets | 216,907 | 200,920 | |||
Total assets | 10,936,904 | 11,132,253 | |||
Notes payable | 1,557,043 | 1,577,467 | |||
Acquired lease intangible liabilities, net | 33,223 | 44,387 | |||
Other liabilities | 97,321 | 96,388 | |||
Capital - Regency | 73,235 | 76,613 | |||
Capital - Third parties | 5,984,912 | 6,213,348 | |||
Total liabilities and equity | 10,936,904 | 11,132,253 | |||
Investments in real estate partnerships (note 4) | 467,155 | 469,522 | |||
US Regency Retail 1, LLC [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Investments in real estate partnerships (note 4) | 0 | [1] | 0 | [2] | |
Other Liabilities [Member] | US Regency Retail 1, LLC [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Investments in real estate partnerships (note 4) | [3] | 4,401 | 3,943 | ||
Basis Difference [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Equity Method Investment, Difference Between Carrying Amount and Underlying Equity | (47,119) | (43,296) | |||
Total Assets [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Total assets | 3,067,227 | 3,158,884 | |||
Total Assets [Member] | US Regency Retail 1, LLC [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Total assets | 85,006 | [1] | 87,231 | [2] | |
Regency [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Capital - Regency | 509,873 | 508,875 | |||
Third Parties [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Capital - Third parties | 869,767 | 931,767 | |||
Total Liabilities and Capital [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Total liabilities and equity | $ 3,067,227 | $ 3,158,884 | |||
[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 $4.4 million, which is recorded within Accounts Payable and other liabilities in the Consolidated Balance Sheets. | ||||
[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 $3.9 million, which is recorded within Accounts Payable and other liabilities in the Consolidated Balance Sheets. | ||||
[3] |
Investments in Real Estate Pa_6
Investments in Real Estate Partnerships - Income Statment Summarized Financial Information (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Revenues and expenses for the investments in real estate partnerships on a combined basis | |||||||||||
Total revenues | $ 258,460 | $ 242,944 | $ 231,113 | $ 283,658 | $ 288,733 | $ 282,276 | $ 275,872 | $ 286,257 | $ 1,016,175 | $ 1,133,138 | $ 1,120,975 |
Operating expenses: | |||||||||||
Depreciation and amortization | 101,590 | 97,844 | 99,847 | ||||||||
Operating and maintenance | 65,146 | 65,811 | 66,299 | ||||||||
General and administrative | 5,870 | 6,201 | 5,697 | ||||||||
Real estate taxes | 53,747 | 53,410 | 54,119 | ||||||||
Other operating expenses | 3,126 | 2,709 | 2,700 | ||||||||
Total operating expenses | 229,479 | 225,975 | 228,662 | ||||||||
Other expense (income): | |||||||||||
Interest expense, net | 66,786 | 75,449 | 73,508 | ||||||||
Equity Method Investment, Summarized Financial Information, Gain Loss on Sale of Real Estate | (7,146) | (64,798) | (16,624) | ||||||||
Early extinguishment of debt | 554 | 0 | 0 | ||||||||
Provision for impairment, net of tax | 0 | 9,223 | 0 | ||||||||
Total other expense (income) | 60,194 | 19,874 | 56,884 | ||||||||
Net income | 47,317 | 243,258 | 252,325 | ||||||||
Revenues [Member] | |||||||||||
Revenues and expenses for the investments in real estate partnerships on a combined basis | |||||||||||
Total revenues | 381,094 | 417,053 | 414,631 | ||||||||
Net Income [Member] | |||||||||||
Other expense (income): | |||||||||||
Net income | 91,421 | 171,204 | 129,085 | ||||||||
Unconsolidated Properties [Member] | |||||||||||
Other expense (income): | |||||||||||
Income (Loss) from Equity Method Investments | $ 34,169 | $ 60,956 | $ 42,974 |
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, 2020 | Dec. 31, 2019 | |
Business Acquisition [Line Items] | ||
Ownership Percentage | 0.00% | 0.00% |
Purchase Price | $ 287,527 | |
Off-Market Lease, Unfavorable [Member] | ||
Business Acquisition [Line Items] | ||
Intangible Assets | 7,153 | |
Off-Market Favorable Lease [Member] | ||
Business Acquisition [Line Items] | ||
Intangible Assets | $ 21,649 | |
Unconsolidated Properties [Member] | Eastfield at Baybrook [Member] | ||
Business Acquisition [Line Items] | ||
Date Purchased | Nov. 13, 2020 | |
Property Name | Eastfield at Baybrook | |
City/State | Houston, TX | |
Business Acquisition, Description of Acquired Entity | Development | |
Business Acquisition, Co-investment Partner | Other | |
Ownership Percentage | 50.00% | |
Purchase Price | $ 4,491 |
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, 2020USD ($)property | Dec. 31, 2019USD ($)property | Dec. 31, 2018USD ($)property | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Proceeds from Sale of Equity Method Investments | $ 27,974 | $ 142,754 | $ 27,144 |
Equity Method Investment, Realized Gain (Loss) on Disposal | 7,147 | 64,798 | 16,624 |
Equity Method Investment, Realized Gain (Loss) on Disposal, Parent Company's Share | $ 2,413 | $ 29,422 | $ 3,608 |
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 | 2 | 4 | 1 |
Land [Member] | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Number of real estate properties sold | property | 0 | 0 | 2 |
Investments in Real Estate Pa_9
Investments in Real Estate Partnerships - Scheduled Principal Payments (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Schedule of Equity Method Investments [Line Items] | ||
2021 | $ 43,160 | |
2022 | 282,645 | |
2023 | 75,848 | |
2024 | 346,045 | |
2025 | 294,207 | |
Beyond 5 Years | 2,913,808 | |
Unamortized debt discounts (premiums) | (32,629) | |
Long-term Debt | 3,923,084 | $ 3,919,544 |
Unsecured Debt [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
Long-term Debt | 3,239,609 | $ 2,944,752 |
Unconsolidated Investments in Partnership [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
2021 | 359,960 | |
2022 | 262,609 | |
2023 | 174,804 | |
2024 | 35,486 | |
2025 | 148,168 | |
Beyond 5 Years | 585,180 | |
Unamortized debt discounts (premiums) | (9,164) | |
Long-term Debt | 1,557,043 | |
Unconsolidated Investments in Partnership [Member] | Mortgages [Member] | Scheduled Principal Payments [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
2021 | 11,257 | |
2022 | 7,736 | |
2023 | 3,196 | |
2024 | 1,796 | |
2025 | 2,168 | |
Beyond 5 Years | 10,859 | |
Unamortized debt discounts (premiums) | 0 | |
Long-term Debt | 37,012 | |
Unconsolidated Investments in Partnership [Member] | Mortgages [Member] | Mortgage Loan Maturities [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
2021 | 333,068 | |
2022 | 254,873 | |
2023 | 171,608 | |
2024 | 33,690 | |
2025 | 146,000 | |
Beyond 5 Years | 574,321 | |
Unamortized debt discounts (premiums) | (9,164) | |
Long-term Debt | 1,504,396 | |
Unconsolidated Investments in Partnership [Member] | Unsecured Debt [Member] | Unsecured Maturities [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
2021 | 15,635 | |
2022 | 0 | |
2023 | 0 | |
2024 | 0 | |
2025 | 0 | |
Beyond 5 Years | 0 | |
Unamortized debt discounts (premiums) | 0 | |
Long-term Debt | 15,635 | |
Unconsolidated Investments in Partnership, Pro-rata Share [Member] [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
2021 | 124,100 | |
2022 | 97,465 | |
2023 | 65,137 | |
2024 | 14,217 | |
2025 | 44,853 | |
Beyond 5 Years | 191,940 | |
Unamortized debt discounts (premiums) | (3,054) | |
Long-term Debt | $ 534,658 |
Investments in Real Estate P_10
Investments in Real Estate Partnerships - Additional Information (Details) | 12 Months Ended |
Dec. 31, 2020 | |
Debt Instrument [Line Items] | |
Debt instrument, interest rate, basis for effective rate | 91.5 |
Weighted average fixed interest rate | 4.10% |
Maturity period | 2034 |
London Interbank Offered Rate (LIBOR) [Member] | |
Debt Instrument [Line Items] | |
Weighted average variable interest rate | 2.40% |
Investments in Real Estate P_11
Investments in Real Estate Partnerships - Related Party Revenue (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Equity Method Investments And Joint Ventures [Abstract] | |||
Revenue from Related Parties | $ 26,618 | $ 28,878 | $ 27,873 |
Schedule of Other Assets (Detai
Schedule of Other Assets (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Other Assets [Abstract] | |||
Goodwill | $ 173,868 | $ 307,434 | $ 314,143 |
Investments | 60,692 | 50,354 | |
Prepaid and other | 17,802 | 18,169 | |
Derivative assets | 2,987 | ||
Furniture, fixtures, and equipment, net | 6,560 | 7,098 | |
Deferred financing costs, net | 2,524 | 4,687 | |
Total other assets | $ 261,446 | $ 390,729 |
Schedule of Goodwill (Details)
Schedule of Goodwill (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Goodwill [Line Items] | ||
Goodwill Gross, Beginning balance | $ 310,388 | $ 316,858 |
Goodwill Gross, allocated to Properties held for sale | (1,191) | (2,472) |
Goodwill, ending balance | 307,413 | 310,388 |
Goodwill, Accumulated Impairment Losses, Beginning balance | (2,954) | (2,715) |
Goodwill Accumulated Impairment Losses, allocated to Provision for impairment | (132,179) | (2,954) |
Goodwill Accumulated Impairment Losses, allocated to Properties held for sale | 1,191 | 0 |
Goodwill, Accumulated Impairment Losses, Ending balance | (133,545) | (2,954) |
Goodwill, Beginning balance | 307,434 | 314,143 |
Goodwill allocated to Provision for impairment | (132,179) | (2,954) |
Goodwill allocated to Properties held for sale | 0 | (2,472) |
Goodwill, Ending balance | 173,868 | 307,434 |
Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member] | ||
Goodwill [Line Items] | ||
Goodwill Gross, allocated to Provision for impairment | (1,779) | |
Goodwill Gross, allocated to Gain on sale of real estate | (1,784) | (2,219) |
Goodwill Accumulated Impairment Losses, allocated to Provision for impairment | 0 | 1,779 |
Goodwill Accumulated Impairment Losses, allocated to Gain on sale of real estate | 397 | 936 |
Goodwill allocated to Provision for impairment | 0 | 0 |
Goodwill allocated to Gain on sale of real estate | $ (1,387) | $ (1,283) |
Other Assets (Details)
Other Assets (Details) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2020USD ($) | Dec. 31, 2020USD ($)Reportingunit | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | |
Goodwill [Line Items] | ||||
Goodwill, impairment loss | $ 132,128 | $ 0 | $ 0 | |
Goodwill, impairment loss | $ 0 | |||
Accumulated Impairment Losses [Member] | Natural Disasters and Other Casualty Events [Member] | ||||
Goodwill [Line Items] | ||||
Goodwill, impairment loss | $ 132,200 | |||
Accumulated Impairment Losses [Member] | Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member] | Natural Disasters and Other Casualty Events [Member] | ||||
Goodwill [Line Items] | ||||
Number of reporting units | Reportingunit | 269 | |||
Fair Value lower than carrying value | Reportingunit | 87 |
Acquired Leases Intangibles (De
Acquired Leases Intangibles (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | ||
Finite-Lived Intangible Assets [Line Items] | ||||
Finite-Lived Intangible Assets, Gross | $ 473,679 | $ 502,132 | ||
Accumulated amortization | (284,880) | (259,310) | ||
Acquired lease intangible assets, net of amortization | 188,799 | 242,822 | ||
Finite-Lived Intangible Liabilities, Accumulated Accretion | (145,966) | (131,676) | ||
Off-market Lease, Unfavorable | 377,712 | 427,260 | ||
Finite-Lived Intangible Assets, Amortization Expense | 55,955 | 69,362 | $ 88,770 | |
Acquired lease intangible liability accretion | 50,103 | 54,730 | 45,655 | |
Partnership Interest [Member] | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Accumulated amortization | (284,880) | (259,310) | ||
Acquired lease intangible assets, net of amortization | 188,799 | 242,822 | ||
Off-market Lease, Unfavorable | 377,712 | 427,260 | ||
In-place leases, net [Member] | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Finite-Lived Intangible Assets, Gross | 414,298 | 438,188 | ||
Finite-Lived Intangible Assets, Amortization Expense | 48,297 | 60,250 | 76,649 | |
Above Market Leases [Member] | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Finite-Lived Intangible Assets, Gross | 59,381 | 63,944 | ||
Finite-Lived Intangible Assets, Amortization Expense | 7,658 | 9,112 | 10,433 | |
Off-Market Favorable Lease [Member] | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Finite-Lived Intangible Assets, Amortization Expense | [1] | 1,688 | ||
Off-Market Lease, Unfavorable [Member] | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Finite Lived Intangible Liabilities, Gross | 523,678 | 558,936 | ||
Acquired lease intangible liability accretion | $ 50,103 | $ 54,730 | 45,561 | |
Above Market Ground Lease Amortization [Member] | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Acquired lease intangible liability accretion | [1] | $ 94 | ||
[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, 2020USD ($) | |
Amortization Expense [Abstract] | |
2021 | $ 31,120 |
2022 | 24,137 |
2023 | 19,580 |
2024 | 15,364 |
2025 | 12,604 |
Net Accretion [Abstract] | |
Future Accretion, Year One | 24,237 |
Future Accretion, Year Two | 22,265 |
Future Accretion, Year Three | 21,183 |
Future Accretion, Year Four | 19,122 |
Future Accretion, Year Five | $ 18,540 |
Leases (Details)
Leases (Details) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2020USD ($)property | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Jan. 01, 2019USD ($) | |
Operating Leased Assets [Line Items] | ||||
Fixed and in-substance fixed lease income | $ 807,603 | $ 813,444 | ||
Variable lease income | 247,384 | 247,861 | ||
Uncollectible straight line rent | (34,673) | (7,002) | ||
Uncollectible amounts billable in lease income | (82,367) | (5,394) | ||
Total lease income | 980,166 | 1,094,301 | $ 1,083,770 | |
2021 | 754,396 | |||
2022 | 676,083 | |||
2023 | 578,023 | |||
2024 | 480,768 | |||
2025 | 372,377 | |||
Thereafter | 1,329,274 | |||
Total | $ 4,190,921 | |||
Number of Properties Subject to Ground Leases | property | 22 | |||
Last Ground Lease Expiration Date | 2101 | |||
Last Office Lease Expiration Date | 2029 | |||
Operating Lease, Expense | $ 19,679 | 20,456 | $ 19,100 | |
Variable Lease, Cost | 1,629 | 2,245 | ||
Operating cash flows for operating leases | 15,003 | 14,815 | ||
Lessee, Operating Lease, Liability, Payments, Due Next Twelve Months | 15,432 | |||
Lessee, Operating Lease, Liability, Payments, Due Year Two | 14,216 | |||
Lessee, Operating Lease, Liability, Payments, Due Year Three | 13,634 | |||
Lessee, Operating Lease, Liability, Payments, Due Year Four | 13,217 | |||
Lessee, Operating Lease, Liability, Payments, Due Year Five | 13,067 | |||
Lessee, Operating Lease, Liability, Payments, Due after Year Five | 544,961 | |||
Lessee, Operating Lease, Total Undiscounted Lease Liabilities | 614,527 | |||
Lessee, Operating Lease, Present Value Discount | (394,137) | |||
Lease liabilities | 220,390 | 222,918 | $ 225,400 | |
Lessor [Member] | ||||
Operating Leased Assets [Line Items] | ||||
Above/below market rent and tenant rent inducement amortization, net | 42,219 | 45,392 | ||
Ground Lease [Member] | ||||
Operating Leased Assets [Line Items] | ||||
Operating Lease, Expense | 13,716 | 13,982 | ||
Variable Lease, Cost | 1,044 | 1,693 | ||
Lessee, Operating Lease, Liability, Payments, Due Next Twelve Months | 10,778 | |||
Lessee, Operating Lease, Liability, Payments, Due Year Two | 10,837 | |||
Lessee, Operating Lease, Liability, Payments, Due Year Three | 11,054 | |||
Lessee, Operating Lease, Liability, Payments, Due Year Four | 11,103 | |||
Lessee, Operating Lease, Liability, Payments, Due Year Five | 11,106 | |||
Lessee, Operating Lease, Liability, Payments, Due after Year Five | 542,184 | |||
Lessee, Operating Lease, Total Undiscounted Lease Liabilities | 597,062 | |||
Lessee, Operating Lease, Present Value Discount | (392,848) | |||
Lease liabilities | $ 204,214 | |||
Operating Lease, Weighted Average Discount Rate, Percent | 5.20% | |||
Operating Lease, Weighted Average Remaining Lease Term | 48 years 1 month 6 days | |||
Office Lease [Member] | ||||
Operating Leased Assets [Line Items] | ||||
Operating Lease, Expense | $ 4,334 | 4,229 | ||
Variable Lease, Cost | 585 | 552 | ||
Lessee, Operating Lease, Liability, Payments, Due Next Twelve Months | 4,654 | |||
Lessee, Operating Lease, Liability, Payments, Due Year Two | 3,379 | |||
Lessee, Operating Lease, Liability, Payments, Due Year Three | 2,580 | |||
Lessee, Operating Lease, Liability, Payments, Due Year Four | 2,114 | |||
Lessee, Operating Lease, Liability, Payments, Due Year Five | 1,961 | |||
Lessee, Operating Lease, Liability, Payments, Due after Year Five | 2,777 | |||
Lessee, Operating Lease, Total Undiscounted Lease Liabilities | 17,465 | |||
Lessee, Operating Lease, Present Value Discount | (1,289) | |||
Lease liabilities | $ 16,176 | |||
Operating Lease, Weighted Average Discount Rate, Percent | 3.80% | |||
Operating Lease, Weighted Average Remaining Lease Term | 5 years | |||
Fixed Lease Expense [Member] | ||||
Operating Leased Assets [Line Items] | ||||
Operating Lease, Expense | $ 18,050 | $ 18,211 |
Income Taxes - Tax Status of Di
Income Taxes - Tax Status of Dividends (Details) - $ / shares | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Schedule of Tax Status of Dividends [Line Items] | |||
Dividend per share | $ 2.38 | $ 2.34 | $ 2.22 |
Ordinary income | 100.00% | 97.00% | 98.00% |
Capital gain | 0.00% | 3.00% | 0.00% |
Allocation of Dividends, Qualified Dividend Income | 0.00% | 0.00% | 2.00% |
Allocation of Dividends, Section 199A Dividend | 100.00% | 97.00% | 98.00% |
Parent Company [Member] | |||
Schedule of Tax Status of Dividends [Line Items] | |||
Dividend per share | $ 2.19 | $ 2.34 | $ 2.22 |
Income Taxes Income Taxes - Inc
Income Taxes Income Taxes - Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Income Tax Disclosure [Abstract] | |||
Current Income Tax Expense (Benefit) | $ 2,157 | $ 1,576 | $ 5,667 |
Deferred Income Tax Expense (Benefit) | (891) | (331) | (5,145) |
Federal Income Tax Expense (Benefit), Continuing Operations | $ 1,266 | $ 1,245 | $ 522 |
Income Taxes Income Taxes - I_2
Income Taxes Income Taxes - Income Tax Expense (Benefit) (Parenthetical) (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Scheduleof Componentsof Income Tax Expense Benefit [Line Items] | |||
Income tax expense (benefit) | $ 1,266,000 | $ 1,245,000 | $ 522,000 |
Other Operating Expenses [Member] | |||
Scheduleof Componentsof Income Tax Expense Benefit [Line Items] | |||
Income tax expense (benefit) | (355,000) | 757,000 | 706,000 |
Gain on Sale of Real Estate [Member] | |||
Scheduleof Componentsof Income Tax Expense Benefit [Line Items] | |||
Income tax expense (benefit) | $ 1,600,000 | $ 488,000 | $ (184,000) |
Income Taxes - Tax Reconciliati
Income Taxes - Tax Reconciliation (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Income Tax Disclosure [Abstract] | |||
Computed expected tax (benefit) expense | $ (3,665) | $ 1,587 | $ (584) |
State income tax, net of federal benefit | (593) | 650 | 636 |
Valuation allowance | 1,043 | (91) | (392) |
Effective Income Tax Rate Reconciliation, Other Adjustments, Amount | 5,079 | (819) | 1,067 |
All other items | (598) | (82) | (205) |
Federal Income Tax Expense (Benefit), Continuing Operations | 1,266 | 1,245 | 522 |
Income tax expense (benefit) attributable to operations | $ 1,266 | $ 1,245 | $ 522 |
Income Taxes - Tax Reconcilia_2
Income Taxes - Tax Reconciliation (Parenthetical) (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Scheduleof Componentsof Income Tax Expense Benefit [Line Items] | |||
Income tax expense (benefit) | $ 1,266,000 | $ 1,245,000 | $ 522,000 |
Other Operating Expenses [Member] | |||
Scheduleof Componentsof Income Tax Expense Benefit [Line Items] | |||
Income tax expense (benefit) | (355,000) | 757,000 | 706,000 |
Gain on Sale of Real Estate [Member] | |||
Scheduleof Componentsof Income Tax Expense Benefit [Line Items] | |||
Income tax expense (benefit) | $ 1,600,000 | $ 488,000 | $ (184,000) |
Income Taxes - Deferred Taxes (
Income Taxes - Deferred Taxes (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Deferred Tax Assets, Net [Abstract] | ||
Provision for impairment | $ 508 | $ 0 |
Deferred interest expense | 0 | 1,341 |
Fixed assets | 1,077 | 0 |
Net operating loss carryforward | 109 | 106 |
Other | 771 | 88 |
Deferred tax assets | 2,465 | 1,535 |
Valuation allowance | (2,465) | (680) |
Deferred tax assets, net | 0 | 855 |
Deferred Tax Liabilities, Net [Abstract] | ||
Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Deferred Rent | (88) | (100) |
Fixed assets | (12,943) | (14,404) |
Deferred tax liabilities | (13,031) | (14,504) |
Net deferred tax liabilities | $ (13,031) | $ (13,649) |
Schedule of Debt (Details)
Schedule of Debt (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Debt Instrument [Line Items] | ||
Long-term Debt | $ 3,923,084 | $ 3,919,544 |
Fixed Rate Mortgage Loans [Member] | ||
Debt Instrument [Line Items] | ||
Long-term Debt, Maturity Date | Oct. 1, 2036 | |
Debt, Weighted Average Contractual Interest Rate | 4.30% | |
Debt, Weighted Average Effective Interest Rate | 4.00% | |
Long-term Debt | $ 272,749 | 342,020 |
Unsecured Debt [Member] | ||
Debt Instrument [Line Items] | ||
Long-term Debt, Maturity Date | Mar. 15, 2049 | |
Debt, Weighted Average Contractual Interest Rate | 3.80% | |
Debt, Weighted Average Effective Interest Rate | 4.00% | |
Long-term Debt | $ 3,239,609 | 2,944,752 |
Total credit facilities | 264,680 | 484,383 |
Notes Payable to Banks [Member] | ||
Debt Instrument [Line Items] | ||
Long-term Debt | $ 3,658,404 | 3,435,161 |
Line of Credit [Member] | ||
Debt Instrument [Line Items] | ||
Long-term Debt, Maturity Date | Mar. 23, 2022 | |
Debt, Weighted Average Contractual Interest Rate | 1.00% | |
Debt, Weighted Average Effective Interest Rate | 1.40% | |
Line of Credit [Member] | Unsecured Debt [Member] | ||
Debt Instrument [Line Items] | ||
Total credit facilities | 220,000 | |
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 | $ 264,680 | 264,383 |
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 | 2.80% | |
Debt, Weighted Average Effective Interest Rate | 2.90% | |
Long-term Debt | $ 146,046 | $ 148,389 |
Schedule of Debt (Parenthetical
Schedule of Debt (Parentheticals) (Details) - USD ($) $ in Thousands | 1 Months Ended | 12 Months Ended | |||
Feb. 28, 2021 | Jan. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Debt Instrument [Line Items] | |||||
Repayments of unsecured debt | $ 300,000 | $ 250,000 | $ 150,000 | ||
Term Loan [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term Debt, Maturity Date | Jan. 5, 2022 | ||||
Variable Rate Mortgage Loans [Member] | London Interbank Offered Rate (LIBOR) [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term Debt, Maturity Date | Jun. 2, 2027 | ||||
Variable Rate Mortgage Loans [Member] | Minimum [Member] | London Interbank Offered Rate (LIBOR) [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt instrument, effective fixed interest rate | 2.50% | ||||
Variable Rate Mortgage Loans [Member] | Maximum [Member] | London Interbank Offered Rate (LIBOR) [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt instrument, effective fixed interest rate | 4.10% | ||||
Line of Credit [Member] | Subsequent Event [Member] | |||||
Debt Instrument [Line Items] | |||||
Line of credit facility, maximum borrowing capacity | $ 1,250,000 | ||||
Long-term Debt, Maturity Date | Mar. 23, 2025 | ||||
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] | Subsequent Event [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt instrument basis spread on variable rate | 0.875% | ||||
Unsecured Debt [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term Debt, Maturity Date | Mar. 15, 2049 | ||||
Unsecured Debt [Member] | Subsequent Event [Member] | Term Loan [Member] | |||||
Debt Instrument [Line Items] | |||||
Repayments of unsecured debt | $ 265,000 |
Notes Payable and Unsecured C_3
Notes Payable and Unsecured Credit Facilities (Details) - USD ($) $ in Thousands | 1 Months Ended | 12 Months Ended | ||||
Feb. 28, 2021 | Jan. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Feb. 09, 2021 | |
Debt Instrument [Line Items] | ||||||
Line of Credit Facility, Interest Rate Description | LIBOR plus 0.875% | |||||
Debt instrument, interest rate, basis for effective rate | 91.5 | |||||
Line of Credit Facility, Commitment Fee Amount | 0.15% | |||||
Debt Instrument, Interest Rate Terms | LIBOR plus 0.95% | |||||
Repayments of unsecured debt | $ 300,000 | $ 250,000 | $ 150,000 | |||
Debt maturing over the next twelve months | $ 43,160 | |||||
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 | $ 31,600 | |||||
Subsequent Event [Member] | Amended and Restated Credit Agreement [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Long-term Debt, Maturity Date | Mar. 23, 2025 | |||||
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] | Subsequent Event [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Line of credit facility, maximum borrowing capacity | $ 1,250,000 | |||||
Long-term Debt, Maturity Date | Mar. 23, 2025 | |||||
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% | |||||
Line of Credit [Member] | London Interbank Offered Rate (LIBOR) [Member] | Subsequent Event [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Debt instrument basis spread on variable rate | 0.875% | |||||
Unsecured Debt [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Long-term Debt, Maturity Date | Mar. 15, 2049 | |||||
Accordion Feature [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Line of credit facility, maximum borrowing capacity | $ 1,250,000 | |||||
Accordion Feature [Member] | Subsequent Event [Member] | Amended and Restated Credit Agreement [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Line of credit facility, maximum borrowing capacity | $ 1,250,000 | |||||
Swing Loan | Subsequent Event [Member] | Amended and Restated Credit Agreement [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Line of credit facility, maximum borrowing capacity | 125,000 | |||||
Letter of Credit | Subsequent Event [Member] | Amended and Restated Credit Agreement [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Line of credit facility, maximum borrowing capacity | $ 50,000 | |||||
Term Loan [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Long-term Debt, Maturity Date | Jan. 5, 2022 | |||||
Term Loan [Member] | Unsecured Debt [Member] | Subsequent Event [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Repayments of unsecured debt | $ 265,000 |
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, 2020 | Dec. 31, 2019 |
Debt Instrument [Line Items] | ||
2021 | $ 43,160 | |
2022 | 282,645 | |
2023 | 75,848 | |
2024 | 346,045 | |
2025 | 294,207 | |
Beyond 5 Years | 2,913,808 | |
Unamortized debt discounts (premiums) | (32,629) | |
Long-term Debt | 3,923,084 | $ 3,919,544 |
Unsecured Debt [Member] | ||
Debt Instrument [Line Items] | ||
Long-term Debt | 3,239,609 | $ 2,944,752 |
Scheduled Principal Payments [Member] | Mortgages [Member] | ||
Debt Instrument [Line Items] | ||
2021 | 11,598 | |
2022 | 11,797 | |
2023 | 10,124 | |
2024 | 5,301 | |
2025 | 4,207 | |
Beyond 5 Years | 17,505 | |
Unamortized debt discounts (premiums) | 0 | |
Long-term Debt | 60,532 | |
Mortgage Loan Maturities [Member] | Mortgages [Member] | ||
Debt Instrument [Line Items] | ||
2021 | 31,562 | |
2022 | 5,848 | |
2023 | 65,724 | |
2024 | 90,744 | |
2025 | 40,000 | |
Beyond 5 Years | 121,303 | |
Unamortized debt discounts (premiums) | 3,082 | |
Long-term Debt | 358,263 | |
Unsecured Maturities [Member] | Unsecured Debt [Member] | ||
Debt Instrument [Line Items] | ||
2021 | 0 | |
2022 | 265,000 | |
2023 | 0 | |
2024 | 250,000 | |
2025 | 250,000 | |
Beyond 5 Years | 2,775,000 | |
Unamortized debt discounts (premiums) | (35,711) | |
Long-term Debt | $ 3,504,289 |
Notes Payable and Unsecured C_5
Notes Payable and Unsecured Credit Facilities Schedule of maturities of long-term debt (Parenthetical) (Details) - USD ($) $ in Thousands | 1 Months Ended | 12 Months Ended | ||
Jan. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Debt Instrument [Line Items] | ||||
Repayments of unsecured debt | $ 300,000 | $ 250,000 | $ 150,000 | |
Subsequent Event [Member] | Unsecured Debt [Member] | Term Loan [Member] | ||||
Debt Instrument [Line Items] | ||||
Repayments of unsecured debt | $ 265,000 |
Derivative Financial Instrume_3
Derivative Financial Instruments (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Derivative [Line Items] | |||
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax | $ (19,187) | $ (15,585) | $ 402 |
Amount reclassified from accumulated other comprehensive loss | 8,790 | 3,269 | 5,342 |
Interest Expense | 156,678 | 151,264 | 148,456 |
Amount reclassified from accumulated other comprehensive loss, Early extinguishment of debt | 2,472 | ||
Early extinguishment of debt | 21,837 | 11,982 | $ 11,172 |
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months | 3,700 | ||
Fair Value, Measurements, Recurring [Member] | |||
Derivative [Line Items] | |||
Interest Rate Cash Flow Hedge Asset at Fair Value | 2,987 | ||
Interest Rate Cash Flow Hedge Liability at Fair Value | (9,291) | (1,515) | |
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 | ||
Interest Rate Cash Flow Hedge Liability at Fair Value | (9,291) | (1,515) | |
Interest Rate Cash Flow Hedge Derivative At Fair Value Net | $ (9,291) | 1,472 | |
Derivative @ 1.053% 265.000M [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 | ||
Interest Rate Cash Flow Hedge Liability at Fair Value | $ (2,472) | ||
Derivative @ 1.303% 19.678M [Member] | |||
Derivative [Line Items] | |||
Derivative, Inception Date | Apr. 7, 2016 | ||
Derivative, Maturity Date | Apr. 1, 2023 | ||
Derivative, Notional Amount | $ 19,405 | ||
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 | ||
Interest Rate Cash Flow Hedge Liability at Fair Value | $ (494) | ||
Derivative @ 1.490% 32.809M [Member] | |||
Derivative [Line Items] | |||
Derivative, Inception Date | Dec. 1, 2016 | ||
Derivative, Maturity Date | Nov. 1, 2023 | ||
Derivative, Notional Amount | $ 32,369 | ||
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 | ||
Interest Rate Cash Flow Hedge Liability at Fair Value | $ (1,181) | ||
Derivative @ 1.542% 24.000M [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 | ||
Interest Rate Cash Flow Hedge Liability at Fair Value | $ (1,288) | ||
Derivative @ 2.366% 37.022M [Member] | |||
Derivative [Line Items] | |||
Derivative, Inception Date | Jun. 2, 2017 | ||
Derivative, Maturity Date | Jun. 2, 2027 | ||
Derivative, Notional Amount | $ 36,592 | ||
Derivative, Description of Variable Rate Basis | 1 Month LIBOR with Floor | ||
Derivative, Fixed Interest Rate | 2.366% | ||
Interest Rate Cash Flow Hedge Liability at Fair Value | $ (3,856) | $ (1,515) |
Derivative Financial Instrume_4
Derivative Financial Instruments (Parentheticals) (Details) - USD ($) $ in Thousands | 1 Months Ended | 12 Months Ended | ||
Jan. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Derivative [Line Items] | ||||
Repayments of unsecured debt | $ 300,000 | $ 250,000 | $ 150,000 | |
Subsequent Event [Member] | Term Loan [Member] | Interest Rate Swap [Member] | ||||
Derivative [Line Items] | ||||
Repayments of unsecured debt | $ 265,000 |
Fair Value Measurements (Detail
Fair Value Measurements (Details) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Notes payable | $ 3,658,405 | $ 3,435,161 | |
Unsecured credit facilities | 264,679 | 484,383 | |
Trading Securities, Change in Unrealized Holding Gain (Loss) | (3,000) | (3,800) | $ 3,300 |
Impairment of Real Estate | 18,536 | 54,174 | $ 38,437 |
Impairment of Real Estate | 17,500 | 40,300 | |
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 | 44,986 | 39,599 | |
Available-for-sale Securities | 15,706 | 10,755 | |
Total | 60,692 | 53,341 | |
Interest Rate Cash Flow Hedge Liability at Fair Value | (9,291) | (1,515) | |
Interest Rate Derivative Assets, at Fair Value | 2,987 | ||
Fair Value, Measurements, Nonrecurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Operating properties | 25,000 | 71,131 | |
Impairment of Real Estate | 17,532 | 50,553 | |
Fair Value, Inputs, Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Notes Payable, Fair Value | 4,102,382 | 3,688,604 | |
Impairment of Real Estate | 10,200 | ||
Fair Value, Inputs, Level 2 [Member] | Properties Held For Sale [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impairment of Real Estate | 28,100 | ||
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 | 15,706 | 10,755 | |
Total | 15,706 | 13,742 | |
Interest Rate Cash Flow Hedge Liability at Fair Value | (9,291) | (1,515) | |
Interest Rate Derivative Assets, at Fair Value | 2,987 | ||
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 | 25,000 | 28,131 | |
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 | 265,226 | 489,496 | |
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 | 44,986 | 39,599 | |
Available-for-sale Securities | 0 | 0 | |
Total | 44,986 | 39,599 | |
Interest Rate Cash Flow Hedge Liability at Fair Value | $ 0 | 0 | |
Interest Rate Derivative Assets, at Fair Value | 0 | ||
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 | 0.0858 | ||
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 | 0.0475 | ||
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 | |
Total | 0 | 0 | |
Interest Rate Cash Flow Hedge Liability at Fair Value | $ 0 | 0 | |
Interest Rate Derivative Assets, at Fair Value | 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 |
Equity and Capital Equity and C
Equity and Capital Equity and Capital - Common Stock (Details) - USD ($) | Feb. 03, 2021 | Feb. 04, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Class of Stock [Line Items] | |||||
Stock Repurchased and Retired During Period, Value | $ 0 | $ (32,778,000) | $ (213,851,000) | ||
Common stock remaining available for Issuance | 500,000,000 | ||||
Common stock, shares issued | 169,680,138 | 167,571,218 | |||
Net proceeds from common stock issuance | $ 125,608,000 | $ 0 | 0 | ||
Stock Repurchase Program, Authorized Amount | $ 250,000,000 | ||||
Stock Repurchase Program Expiration Date | Feb. 5, 2021 | ||||
Common stock repurchased and retired | $ 0 | (32,778,000) | $ (213,851,000) | ||
Subsequent Event [Member] | |||||
Class of Stock [Line Items] | |||||
Stock Repurchase Program, Authorized Amount | $ 250,000,000 | ||||
Stock Repurchase Program Expiration Date | Feb. 3, 2023 | ||||
ATM Equity Offering Program [Member] | |||||
Class of Stock [Line Items] | |||||
Shares issued under program | 0 | ||||
Forward Equity Offering [Member] | ATM Equity Offering Program [Member] | |||||
Class of Stock [Line Items] | |||||
Common stock, shares issued | 1,894,845 | ||||
Net proceeds from common stock issuance | $ 125,800,000 | ||||
Maximum [Member] | |||||
Class of Stock [Line Items] | |||||
Equity Issuances, Common Shares Authorized for Issuance | 500,000,000 | ||||
Common Stock [Member] | |||||
Class of Stock [Line Items] | |||||
Stock Repurchased and Retired During Period, Value | (6,000) | $ (37,000) | |||
Common stock repurchased and retired | $ (6,000) | $ (37,000) |
Equity and Capital Equity and_2
Equity and Capital Equity and Capital - Common Units (Details) - Common Stock [Member] - Shopping Center [Member] $ in Millions | 1 Months Ended |
Jan. 31, 2020USD ($)shares | |
Class of Stock [Line Items] | |
Issuance of exchangeable operating partnership, units | shares | 18,613 |
Issuance of operating partnership, value | $ | $ 1.3 |
Additional Ownership Percentage Acquired | 16.62% |
Equity and Capital - Schedule o
Equity and Capital - Schedule of Partnership Units Outstanding (Details) - shares | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Class of Stock [Line Items] | ||
General partner units, outstanding | 169,680,000 | 167,571,000 |
Limited partner units, outstanding | 765,000 | 746,000 |
Partners' Capital Account, Units | 170,445,184 | 168,317,000 |
Operating Partnership [Member] | ||
Class of Stock [Line Items] | ||
General partner units, outstanding | 169,680,138 | |
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% | 99.60% |
Stock-Based Compensation Stock-
Stock-Based Compensation Stock-Based Compensation (Details) - USD ($) $ in Thousands, shares in Millions | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs, Capitalized Amount | [1] | $ (1,119) | $ (2,325) | $ (3,509) |
Stock-based compensation, net of capitalization | $ 13,581 | 14,339 | 13,635 | |
Share-based compensation arrangement by share-based payment award, number of shares Authorized | 5.4 | |||
Share-based compensation arrangement by share-based payment award, number of shares available for grant | 4.7 | |||
Restricted Stock [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Allocated Share-based Compensation Expense | [2] | $ 14,248 | 16,254 | 16,745 |
Common Stock [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Noninterest Expense Directors Fees | 452 | 410 | 399 | |
Parent Company [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Stock-based compensation, net of capitalization | $ 13,581 | $ 14,339 | $ 13,635 | |
[1] | Includes compensation expense specifically identifiable to development and redevelopment activities. During 2018, 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 | |||
[2] | Includes amortization of the grant date fair value of restricted stock awards over the respective vesting periods |
Stock-Based Compensation Restri
Stock-Based Compensation Restricted Stock (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | 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 | 18.50% | 19.30% | 19.20% | |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 1.30% | 2.43% | 2.26% | |
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 | 623,090 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | (244,694) | |||
Stock Issued During Period, Shares, Restricted Stock Award, Forfeited | (44,792) | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 618,935 | 623,090 | ||
Non-Vested Restricted Stock Intrinsic Value | $ 28,217 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value | $ 58.94 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value | 63.45 | |||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ 64.14 | $ 65.11 | $ 63.50 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value | $ 14,423 | $ 17,684 | $ 17,306 | |
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 | 144,497 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 57.17 | |||
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 | 8,898 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 62.04 | |||
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 | 109,030 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 73.54 | |||
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 | 22,906 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 62.39 | |||
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, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
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 | $ 3,500,000 | $ 3,900,000 |
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, 2020 | Dec. 31, 2019 |
Other Assets [Member] | ||
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items] | ||
Securities | $ 40,964 | $ 36,849 |
Accounts Payable and Other Liabilities [Member] | ||
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items] | ||
Deferred compensation obligation | $ 40,962 | $ 36,755 |
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, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | ||
Earnings Per Share Basic [Line Items] | ||||||||||||
Weighted average common shares/units outstanding for basic EPS/EPU | 169,231,000 | 167,526,000 | 169,724,000 | |||||||||
Weighted average common shares/units outstanding for diluted EPS/EPU | [1] | 169,460,000 | 167,771,000 | 170,100,000 | ||||||||
Income per common share - basic | $ 0.23 | $ 0.07 | $ 0.11 | $ (0.15) | $ 0.24 | $ 0.34 | $ 0.31 | $ 0.54 | $ 0.27 | $ 1.43 | $ 1.47 | |
Income per common share - diluted | $ 0.23 | $ 0.07 | $ 0.11 | $ (0.15) | $ 0.24 | $ 0.34 | $ 0.31 | $ 0.54 | $ 0.26 | $ 1.43 | $ 1.46 | |
Weighted Average Limited Partnership Units Outstanding, Basic | 765,046 | 464,286 | 349,902 | |||||||||
Partnership Interest [Member] | ||||||||||||
Earnings Per Share Basic [Line Items] | ||||||||||||
Weighted average common shares/units outstanding for basic EPS/EPU | 169,997,000 | 167,990,000 | 170,074,000 | |||||||||
Weighted average common shares/units outstanding for diluted EPS/EPU | 170,225,000 | 168,235,000 | 170,450,000 | |||||||||
Income per common share - basic | $ 0.27 | $ 1.43 | $ 1.47 | |||||||||
Income per common share - diluted | $ 0.26 | $ 1.43 | $ 1.46 | |||||||||
Continuing Operations [Member] | ||||||||||||
Earnings Per Share Basic [Line Items] | ||||||||||||
Income attributable to common stockholders/unit holders - basic | $ 44,889 | $ 239,430 | $ 249,127 | |||||||||
Income attributable to common stockholders/unit holders - diluted | 44,889 | 239,430 | 249,127 | |||||||||
Continuing Operations [Member] | Partnership Interest [Member] | ||||||||||||
Earnings Per Share Basic [Line Items] | ||||||||||||
Income attributable to common stockholders/unit holders - basic | 45,092 | 240,064 | 249,652 | |||||||||
Income attributable to common stockholders/unit holders - diluted | $ 45,092 | $ 240,064 | $ 249,652 | |||||||||
[1] | (1) Includes the dilutive impact of unvested restricted stock. (2) Using the treasury stock method, 2019 weighted average common shares outstanding for basic and diluted earnings per share exclude 1.9 million shares issuable under the forward ATM equity offering as they would be anti-dilutive. These shares are included in 2020 weighted average common shares outstanding as they were settled in March 2020. |
Earnings per Share and Unit (Pa
Earnings per Share and Unit (Parenthetical) (Details) shares in Millions | 12 Months Ended |
Dec. 31, 2019shares | |
ATM Equity Offering Program [Member] | |
Earnings Per Share Basic [Line Items] | |
Anti-dilutive securities excludes from earnings per share amount | 1.9 |
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 |
Forward Equity Offering [Member] | |
Earnings Per Share Basic [Line Items] | |
Anti-dilutive securities excludes from earnings per share amount | 1.9 |
Forward Equity Offering [Member] | Partnership Interest [Member] | |
Earnings Per Share Basic [Line Items] | |
Anti-dilutive securities excludes from earnings per share amount | 1.9 |
Commitments and Contingencies (
Commitments and Contingencies (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Commitments And Contingencies Disclosure [Abstract] | ||
Line of Credit Facility, Maximum Borrowing Capacity | $ 50 | |
Letters of Credit Outstanding, Amount | $ 9.7 | $ 12.5 |
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, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Quarterly Financial Information Disclosure [Abstract] | |||||||||||
Total revenues | $ 258,460 | $ 242,944 | $ 231,113 | $ 283,658 | $ 288,733 | $ 282,276 | $ 275,872 | $ 286,257 | $ 1,016,175 | $ 1,133,138 | $ 1,120,975 |
Net (loss) income attributable to common stockholders | 38,487 | 12,688 | 19,046 | (25,332) | 40,291 | 56,965 | 51,728 | 90,446 | $ 44,889 | $ 239,430 | $ 249,127 |
Noncontrolling Interest in Net Income (Loss) Operating Partnerships, Nonredeemable | 174 | 57 | 87 | (115) | 178 | 157 | 109 | 190 | |||
Net income attributable to common unit holders | $ 38,661 | $ 12,745 | $ 19,133 | $ (25,447) | $ 40,469 | $ 57,122 | $ 51,837 | $ 90,636 | |||
Income per common share - basic (note 15) | $ 0.23 | $ 0.07 | $ 0.11 | $ (0.15) | $ 0.24 | $ 0.34 | $ 0.31 | $ 0.54 | $ 0.27 | $ 1.43 | $ 1.47 |
Income per common share - diluted (note 15) | $ 0.23 | $ 0.07 | $ 0.11 | $ (0.15) | $ 0.24 | $ 0.34 | $ 0.31 | $ 0.54 | $ 0.26 | $ 1.43 | $ 1.46 |
Schedule III - Consolidated R_2
Schedule III - Consolidated Real Estate and Accumulated Depreciation (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2020 | |
Initial Cost | ||||
Land | $ 4,791,532 | |||
Building & Improvements | 5,546,443 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 763,883 | |||
Total Cost | ||||
Land | 4,861,253 | |||
Building & Improvements | 6,240,605 | |||
Total | $ 11,095,294 | $ 10,863,162 | $ 10,892,821 | 11,101,858 |
Accumulated Depreciation | (1,766,162) | (1,535,444) | (1,339,771) | (1,994,108) |
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 9,107,750 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (415,713) | |||
Aggregate cost for Federal income tax purposes | 8,900,000 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Beginning balance | 11,095,294 | 10,863,162 | 10,892,821 | |
Acquired properties and land | 39,087 | 268,366 | 113,911 | |
Developments and improvements | 154,657 | 193,973 | 213,389 | |
Disposal of building and tenant improvements | (35,034) | (34,824) | (15,384) | |
Sale of properties | (95,780) | (60,195) | (277,270) | |
Properties held for sale | (38,122) | (58,527) | (59,438) | |
Provision for impairment | (18,244) | (76,661) | (4,867) | |
Ending balance | 11,101,858 | 11,095,294 | 10,863,162 | |
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Beginning balance | 1,766,162 | 1,535,444 | 1,339,771 | |
Depreciation expense | 278,861 | 295,638 | 264,873 | |
Disposal of building and tenant improvements | (35,034) | (34,824) | (15,384) | |
Sale of properties | (10,812) | (4,643) | (45,901) | |
Accumulated depreciation related to properties held for sale | (4,357) | (19,031) | (7,729) | |
Provision for impairment | (712) | (6,422) | (186) | |
Ending balance | $ 1,994,108 | $ 1,766,162 | $ 1,535,444 | |
Building and Improvements [Member] | ||||
Total Cost | ||||
Property, Plant and Equipment, Useful Life | 40 years | |||
101 7th Avenue [Member] | ||||
Initial Cost | ||||
Land | 48,340 | |||
Building & Improvements | 34,895 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (57,260) | |||
Total Cost | ||||
Land | 15,378 | |||
Building & Improvements | 10,597 | |||
Total | $ 25,975 | 25,975 | ||
Accumulated Depreciation | (1,015) | (1,015) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 24,960 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 25,975 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 1,015 | |||
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 | (2,866) | (2,866) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 63,312 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 66,178 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 2,866 | |||
1225-1239 Second Ave [Member] | ||||
Initial Cost | ||||
Land | 23,033 | |||
Building & Improvements | 17,173 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (33) | |||
Total Cost | ||||
Land | 23,033 | |||
Building & Improvements | 17,140 | |||
Total | 40,173 | 40,173 | ||
Accumulated Depreciation | (2,044) | (2,044) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 38,129 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 40,173 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 2,044 | |||
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 | (278) | (278) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 6,957 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 7,235 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 278 | |||
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 | 1,518 | |||
Total Cost | ||||
Land | 30,812 | |||
Building & Improvements | 37,296 | |||
Total | 68,108 | 68,108 | ||
Accumulated Depreciation | (27,466) | (27,466) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 40,642 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (84,191) | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 68,108 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 27,466 | |||
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 | (36) | (36) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 3,585 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 3,621 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 36 | |||
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 | 133 | |||
Total Cost | ||||
Land | 16,614 | |||
Building & Improvements | 24,304 | |||
Total | 40,918 | 40,918 | ||
Accumulated Depreciation | (2,814) | (2,814) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 38,104 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 40,918 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 2,814 | |||
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 | (141) | (141) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 1,442 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 1,583 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 141 | |||
Alafaya Village [Member] | ||||
Initial Cost | ||||
Land | 3,004 | |||
Building & Improvements | 5,852 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 172 | |||
Total Cost | ||||
Land | 3,004 | |||
Building & Improvements | 6,024 | |||
Total | 9,028 | 9,028 | ||
Accumulated Depreciation | (941) | (941) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 8,087 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 9,028 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 941 | |||
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 | 817 | |||
Total Cost | ||||
Land | 10,109 | |||
Building & Improvements | 12,105 | |||
Total | 22,214 | 22,214 | ||
Accumulated Depreciation | (5,594) | (5,594) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 16,620 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 22,214 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 5,594 | |||
Anastasia Plaza [Member] | ||||
Initial Cost | ||||
Land | 9,065 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 761 | |||
Total Cost | ||||
Land | 3,338 | |||
Building & Improvements | 6,488 | |||
Total | 9,826 | 9,826 | ||
Accumulated Depreciation | (3,104) | (3,104) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 6,722 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 9,826 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 3,104 | |||
Ashford Place [Member] | ||||
Initial Cost | ||||
Land | 2,584 | |||
Building & Improvements | 9,865 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,216 | |||
Total Cost | ||||
Land | 2,584 | |||
Building & Improvements | 11,081 | |||
Total | 13,665 | 13,665 | ||
Accumulated Depreciation | (8,451) | (8,451) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 5,214 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 13,665 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 8,451 | |||
Atlantic Village [Member] | ||||
Initial Cost | ||||
Land | 4,282 | |||
Building & Improvements | 18,827 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,688 | |||
Total Cost | ||||
Land | 4,766 | |||
Building & Improvements | 20,031 | |||
Total | 24,797 | 24,797 | ||
Accumulated Depreciation | (3,328) | (3,328) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 21,469 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 24,797 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 3,328 | |||
Aventura Shopping Center [Member] | ||||
Initial Cost | ||||
Land | 2,751 | |||
Building & Improvements | 10,459 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 11,011 | |||
Total Cost | ||||
Land | 9,486 | |||
Building & Improvements | 14,735 | |||
Total | 24,221 | 24,221 | ||
Accumulated Depreciation | (2,718) | (2,718) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 21,503 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 24,221 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 2,718 | |||
Aventura Square [Member] | ||||
Initial Cost | ||||
Land | 88,098 | |||
Building & Improvements | 20,771 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,705 | |||
Total Cost | ||||
Land | 89,657 | |||
Building & Improvements | 20,917 | |||
Total | 110,574 | 110,574 | ||
Accumulated Depreciation | (3,026) | (3,026) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 107,548 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (4,864) | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 110,574 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 3,026 | |||
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 | 14,038 | |||
Total Cost | ||||
Land | 27,758 | |||
Building & Improvements | 43,192 | |||
Total | 70,950 | 70,950 | ||
Accumulated Depreciation | (15,913) | (15,913) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 55,037 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 70,950 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 15,913 | |||
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 | (1,261) | (1,261) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 2,004 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 3,265 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 1,261 | |||
Belleview Square [Member] | ||||
Initial Cost | ||||
Land | 8,132 | |||
Building & Improvements | 9,756 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 3,827 | |||
Total Cost | ||||
Land | 8,323 | |||
Building & Improvements | 13,392 | |||
Total | 21,715 | 21,715 | ||
Accumulated Depreciation | (9,110) | (9,110) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 12,605 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 21,715 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 9,110 | |||
Belmont Chase [Member] | ||||
Initial Cost | ||||
Land | 13,881 | |||
Building & Improvements | 17,193 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (426) | |||
Total Cost | ||||
Land | 14,372 | |||
Building & Improvements | 16,276 | |||
Total | 30,648 | 30,648 | ||
Accumulated Depreciation | (5,857) | (5,857) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 24,791 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 30,648 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 5,857 | |||
Berkshire Commons [Member] | ||||
Initial Cost | ||||
Land | 2,295 | |||
Building & Improvements | 9,551 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 2,696 | |||
Total Cost | ||||
Land | 2,965 | |||
Building & Improvements | 11,577 | |||
Total | 14,542 | 14,542 | ||
Accumulated Depreciation | (8,618) | (8,618) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 5,924 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 14,542 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 8,618 | |||
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 | (847) | (847) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 14,635 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 15,482 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 847 | |||
Bird Ludlam [Member] | ||||
Initial Cost | ||||
Land | 42,663 | |||
Building & Improvements | 38,481 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 417 | |||
Total Cost | ||||
Land | 42,663 | |||
Building & Improvements | 38,898 | |||
Total | 81,561 | 81,561 | ||
Accumulated Depreciation | (5,430) | (5,430) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 76,131 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 81,561 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 5,430 | |||
Black Rock [Member] | ||||
Initial Cost | ||||
Land | 22,251 | |||
Building & Improvements | 20,815 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 388 | |||
Total Cost | ||||
Land | 22,251 | |||
Building & Improvements | 21,203 | |||
Total | 43,454 | 43,454 | ||
Accumulated Depreciation | (5,432) | (5,432) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 38,022 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (19,405) | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 43,454 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 5,432 | |||
Bloomingdale Square [Member] | ||||
Initial Cost | ||||
Land | 3,940 | |||
Building & Improvements | 14,912 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 20,222 | |||
Total Cost | ||||
Land | 8,634 | |||
Building & Improvements | 30,440 | |||
Total | 39,074 | 39,074 | ||
Accumulated Depreciation | (9,663) | (9,663) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 29,411 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 39,074 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 9,663 | |||
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 | 14 | |||
Total Cost | ||||
Land | 43,888 | |||
Building & Improvements | 9,740 | |||
Total | 53,628 | 53,628 | ||
Accumulated Depreciation | (1,964) | (1,964) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 51,664 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 53,628 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 1,964 | |||
Boulevard Center [Member] | ||||
Initial Cost | ||||
Land | 3,659 | |||
Building & Improvements | 10,787 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 2,761 | |||
Total Cost | ||||
Land | 3,659 | |||
Building & Improvements | 13,548 | |||
Total | 17,207 | 17,207 | ||
Accumulated Depreciation | (8,097) | (8,097) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 9,110 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 17,207 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 8,097 | |||
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 | 5,018 | |||
Total Cost | ||||
Land | 3,606 | |||
Building & Improvements | 15,276 | |||
Total | 18,882 | 18,882 | ||
Accumulated Depreciation | (8,541) | (8,541) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 10,341 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 18,882 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 8,541 | |||
Boynton Plaza [Member] | ||||
Initial Cost | ||||
Land | 12,879 | |||
Building & Improvements | 20,713 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 104 | |||
Total Cost | ||||
Land | 12,879 | |||
Building & Improvements | 20,817 | |||
Total | 33,696 | 33,696 | ||
Accumulated Depreciation | (3,083) | (3,083) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 30,613 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 33,696 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 3,083 | |||
Brentwood Plaza [Member] | ||||
Initial Cost | ||||
Land | 2,788 | |||
Building & Improvements | 3,473 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 356 | |||
Total Cost | ||||
Land | 2,788 | |||
Building & Improvements | 3,829 | |||
Total | 6,617 | 6,617 | ||
Accumulated Depreciation | (1,675) | (1,675) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 4,942 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 6,617 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 1,675 | |||
Briarcliff La Vista [Member] | ||||
Initial Cost | ||||
Land | 694 | |||
Building & Improvements | 3,292 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 565 | |||
Total Cost | ||||
Land | 694 | |||
Building & Improvements | 3,857 | |||
Total | 4,551 | 4,551 | ||
Accumulated Depreciation | (3,155) | (3,155) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 1,396 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 4,551 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 3,155 | |||
Briarcliff Village [Member] | ||||
Initial Cost | ||||
Land | 4,597 | |||
Building & Improvements | 24,836 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 2,469 | |||
Total Cost | ||||
Land | 4,597 | |||
Building & Improvements | 27,305 | |||
Total | 31,902 | 31,902 | ||
Accumulated Depreciation | (20,368) | (20,368) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 11,534 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 31,902 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 20,368 | |||
Brick Walk [Member] | ||||
Initial Cost | ||||
Land | 25,299 | |||
Building & Improvements | 41,995 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,525 | |||
Total Cost | ||||
Land | 25,299 | |||
Building & Improvements | 43,520 | |||
Total | 68,819 | 68,819 | ||
Accumulated Depreciation | (9,406) | (9,406) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 59,413 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (32,369) | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 68,819 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 9,406 | |||
BridgeMill Market [Member] | ||||
Initial Cost | ||||
Land | 7,521 | |||
Building & Improvements | 13,306 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 613 | |||
Total Cost | ||||
Land | 7,522 | |||
Building & Improvements | 13,918 | |||
Total | 21,440 | 21,440 | ||
Accumulated Depreciation | (2,495) | (2,495) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 18,945 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (4,012) | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 21,440 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 2,495 | |||
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 | (3,206) | (3,206) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 8,569 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 11,775 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 3,206 | |||
Brighten Park [Member] | ||||
Initial Cost | ||||
Land | 3,983 | |||
Building & Improvements | 18,687 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 11,477 | |||
Total Cost | ||||
Land | 4,234 | |||
Building & Improvements | 29,913 | |||
Total | 34,147 | 34,147 | ||
Accumulated Depreciation | (19,034) | (19,034) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 15,113 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 34,147 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 19,034 | |||
Broadway Plaza [Member] | ||||
Initial Cost | ||||
Land | 40,723 | |||
Building & Improvements | 42,170 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,522 | |||
Total Cost | ||||
Land | 40,723 | |||
Building & Improvements | 43,692 | |||
Total | 84,415 | 84,415 | ||
Accumulated Depreciation | (5,789) | (5,789) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 78,626 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 84,415 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 5,789 | |||
Brooklyn Station [Member] | ||||
Initial Cost | ||||
Land | 7,019 | |||
Building & Improvements | 8,688 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 126 | |||
Total Cost | ||||
Land | 6,998 | |||
Building & Improvements | 8,835 | |||
Total | 15,833 | 15,833 | ||
Accumulated Depreciation | (2,263) | (2,263) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 13,570 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 15,833 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 2,263 | |||
Brookside Plaza [Member] | ||||
Initial Cost | ||||
Land | 35,161 | |||
Building & Improvements | 17,494 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 406 | |||
Total Cost | ||||
Land | 35,161 | |||
Building & Improvements | 17,900 | |||
Total | 53,061 | 53,061 | ||
Accumulated Depreciation | (3,688) | (3,688) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 49,373 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 53,061 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 3,688 | |||
Buckhead Court [Member] | ||||
Initial Cost | ||||
Land | 1,417 | |||
Building & Improvements | 7,432 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 4,506 | |||
Total Cost | ||||
Land | 1,417 | |||
Building & Improvements | 11,938 | |||
Total | 13,355 | 13,355 | ||
Accumulated Depreciation | (8,458) | (8,458) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 4,897 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 13,355 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 8,458 | |||
Buckhead Station [Member] | ||||
Initial Cost | ||||
Land | 70,411 | |||
Building & Improvements | 36,518 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,520 | |||
Total Cost | ||||
Land | 70,448 | |||
Building & Improvements | 38,001 | |||
Total | 108,449 | 108,449 | ||
Accumulated Depreciation | (6,683) | (6,683) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 101,766 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 108,449 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 6,683 | |||
Buckley Square [Member] | ||||
Initial Cost | ||||
Land | 2,970 | |||
Building & Improvements | 5,978 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,366 | |||
Total Cost | ||||
Land | 2,970 | |||
Building & Improvements | 7,344 | |||
Total | 10,314 | 10,314 | ||
Accumulated Depreciation | (4,751) | (4,751) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 5,563 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 10,314 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 4,751 | |||
Caligo Crossing [Member] | ||||
Initial Cost | ||||
Land | 2,459 | |||
Building & Improvements | 4,897 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 144 | |||
Total Cost | ||||
Land | 2,546 | |||
Building & Improvements | 4,954 | |||
Total | 7,500 | 7,500 | ||
Accumulated Depreciation | (3,406) | (3,406) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 4,094 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 7,500 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 3,406 | |||
Cambridge Square [Member] | ||||
Initial Cost | ||||
Land | 774 | |||
Building & Improvements | 4,347 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 442 | |||
Total Cost | ||||
Land | 774 | |||
Building & Improvements | 4,789 | |||
Total | 5,563 | 5,563 | ||
Accumulated Depreciation | (3,176) | (3,176) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 2,387 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 5,563 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 3,176 | |||
Carmel Commons [Member] | ||||
Initial Cost | ||||
Land | 2,466 | |||
Building & Improvements | 12,548 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 4,975 | |||
Total Cost | ||||
Land | 3,422 | |||
Building & Improvements | 16,567 | |||
Total | 19,989 | 19,989 | ||
Accumulated Depreciation | (10,882) | (10,882) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 9,107 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 19,989 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 10,882 | |||
Carriage Gate [Member[ | ||||
Initial Cost | ||||
Land | 833 | |||
Building & Improvements | 4,974 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 3,300 | |||
Total Cost | ||||
Land | 1,302 | |||
Building & Improvements | 7,805 | |||
Total | 9,107 | 9,107 | ||
Accumulated Depreciation | (6,751) | (6,751) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 2,356 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 9,107 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 6,751 | |||
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 | (110) | (110) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 5,542 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 5,652 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 110 | |||
Cashmere Corners [Member] | ||||
Initial Cost | ||||
Land | 3,187 | |||
Building & Improvements | 9,397 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 263 | |||
Total Cost | ||||
Land | 3,187 | |||
Building & Improvements | 9,660 | |||
Total | 12,847 | 12,847 | ||
Accumulated Depreciation | (1,737) | (1,737) | ||
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 | 12,847 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 1,737 | |||
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 | 1,440 | |||
Total Cost | ||||
Land | 5,694 | |||
Building & Improvements | 13,909 | |||
Total | 19,603 | 19,603 | ||
Accumulated Depreciation | (6,098) | (6,098) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 13,505 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 19,603 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 6,098 | |||
Charlotte Square [Member] | ||||
Initial Cost | ||||
Land | 1,141 | |||
Building & Improvements | 6,845 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,012 | |||
Total Cost | ||||
Land | 1,141 | |||
Building & Improvements | 7,857 | |||
Total | 8,998 | 8,998 | ||
Accumulated Depreciation | (1,465) | (1,465) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 7,533 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 8,998 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 1,465 | |||
Chasewood Plaza [Member] | ||||
Initial Cost | ||||
Land | 4,612 | |||
Building & Improvements | 20,829 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 5,816 | |||
Total Cost | ||||
Land | 6,886 | |||
Building & Improvements | 24,371 | |||
Total | 31,257 | 31,257 | ||
Accumulated Depreciation | (19,129) | (19,129) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 12,128 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 31,257 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 19,129 | |||
Chastain Square [Member] | ||||
Initial Cost | ||||
Land | 30,074 | |||
Building & Improvements | 12,644 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,973 | |||
Total Cost | ||||
Land | 30,074 | |||
Building & Improvements | 14,617 | |||
Total | 44,691 | 44,691 | ||
Accumulated Depreciation | (2,918) | (2,918) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 41,773 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 44,691 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 2,918 | |||
Cherry Grove [Member] | ||||
Initial Cost | ||||
Land | 3,533 | |||
Building & Improvements | 15,862 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 4,524 | |||
Total Cost | ||||
Land | 3,533 | |||
Building & Improvements | 20,386 | |||
Total | 23,919 | 23,919 | ||
Accumulated Depreciation | (12,064) | (12,064) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 11,855 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 23,919 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 12,064 | |||
Chimney Rock [Member] | ||||
Initial Cost | ||||
Land | 23,613 | |||
Building & Improvements | 48,173 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 395 | |||
Total Cost | ||||
Land | 23,613 | |||
Building & Improvements | 48,568 | |||
Total | 72,181 | 72,181 | ||
Accumulated Depreciation | (9,057) | (9,057) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 63,124 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 72,181 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 9,057 | |||
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 | (22) | |||
Total Cost | ||||
Land | 22,930 | |||
Building & Improvements | 9,006 | |||
Total | 31,936 | 31,936 | ||
Accumulated Depreciation | (1,478) | (1,478) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 30,458 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (9,143) | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 31,936 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 1,478 | |||
Circle Marina Center [Member] | ||||
Initial Cost | ||||
Land | 29,303 | |||
Building & Improvements | 18,437 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (1) | |||
Total Cost | ||||
Land | 29,303 | |||
Building & Improvements | 18,436 | |||
Total | 47,739 | 47,739 | ||
Accumulated Depreciation | (889) | (889) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 46,850 | |||
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 | 47,739 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 889 | |||
CityLine Market [Member] | ||||
Initial Cost | ||||
Land | 12,208 | |||
Building & Improvements | 15,839 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 170 | |||
Total Cost | ||||
Land | 12,306 | |||
Building & Improvements | 15,911 | |||
Total | 28,217 | 28,217 | ||
Accumulated Depreciation | (3,992) | (3,992) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 24,225 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 28,217 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 3,992 | |||
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 | 3 | |||
Total Cost | ||||
Land | 2,744 | |||
Building & Improvements | 3,084 | |||
Total | 5,828 | 5,828 | ||
Accumulated Depreciation | (710) | (710) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 5,118 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 5,828 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 710 | |||
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 | 3,056 | |||
Total Cost | ||||
Land | 24,538 | |||
Building & Improvements | 38,129 | |||
Total | 62,667 | 62,667 | ||
Accumulated Depreciation | (27,711) | (27,711) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 34,956 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 62,667 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 27,711 | |||
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 | 523 | |||
Total Cost | ||||
Land | 49,630 | |||
Building & Improvements | 20,147 | |||
Total | 69,777 | 69,777 | ||
Accumulated Depreciation | (2,757) | (2,757) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 67,020 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 69,777 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 2,757 | |||
Clybourn Commons [Member] | ||||
Initial Cost | ||||
Land | 15,056 | |||
Building & Improvements | 5,594 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 289 | |||
Total Cost | ||||
Land | 15,056 | |||
Building & Improvements | 5,883 | |||
Total | 20,939 | 20,939 | ||
Accumulated Depreciation | (1,588) | (1,588) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 19,351 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 20,939 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 1,588 | |||
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 | 1,896 | |||
Total Cost | ||||
Land | 13,154 | |||
Building & Improvements | 14,211 | |||
Total | 27,365 | 27,365 | ||
Accumulated Depreciation | (10,728) | (10,728) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 16,637 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 27,365 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 10,728 | |||
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 | 735 | |||
Total Cost | ||||
Land | 28,627 | |||
Building & Improvements | 11,130 | |||
Total | 39,757 | 39,757 | ||
Accumulated Depreciation | (1,480) | (1,480) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 38,277 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 39,757 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 1,480 | |||
Concord Shopping Plaza [Member] | ||||
Initial Cost | ||||
Land | 30,819 | |||
Building & Improvements | 36,506 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,460 | |||
Total Cost | ||||
Land | 31,272 | |||
Building & Improvements | 37,513 | |||
Total | 68,785 | 68,785 | ||
Accumulated Depreciation | (4,893) | (4,893) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 63,892 | |||
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 | 68,785 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 4,893 | |||
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 | 383 | |||
Total Cost | ||||
Land | 29,514 | |||
Building & Improvements | 41,057 | |||
Total | 70,571 | 70,571 | ||
Accumulated Depreciation | (5,931) | (5,931) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 64,640 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (11,258) | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 70,571 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 5,931 | |||
Coral Reef Shopping Center [Member] | ||||
Initial Cost | ||||
Land | 14,922 | |||
Building & Improvements | 15,200 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 2,474 | |||
Total Cost | ||||
Land | 15,332 | |||
Building & Improvements | 17,264 | |||
Total | 32,596 | 32,596 | ||
Accumulated Depreciation | (2,518) | (2,518) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 30,078 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 32,596 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 2,518 | |||
Corkscrew Village [Member] | ||||
Initial Cost | ||||
Land | 8,407 | |||
Building & Improvements | 8,004 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 662 | |||
Total Cost | ||||
Land | 8,407 | |||
Building & Improvements | 8,666 | |||
Total | 17,073 | 17,073 | ||
Accumulated Depreciation | (3,944) | (3,944) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 13,129 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 17,073 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 3,944 | |||
Cornerstone Square [Member] | ||||
Initial Cost | ||||
Land | 1,772 | |||
Building & Improvements | 6,944 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,685 | |||
Total Cost | ||||
Land | 1,772 | |||
Building & Improvements | 8,629 | |||
Total | 10,401 | 10,401 | ||
Accumulated Depreciation | (6,262) | (6,262) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 4,139 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 10,401 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 6,262 | |||
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 | 470 | |||
Total Cost | ||||
Land | 6,696 | |||
Building & Improvements | 12,692 | |||
Total | 19,388 | 19,388 | ||
Accumulated Depreciation | (6,800) | (6,800) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 12,588 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 19,388 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 6,800 | |||
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 | 1,499 | |||
Total Cost | ||||
Land | 12,798 | |||
Building & Improvements | 28,309 | |||
Total | 41,107 | 41,107 | ||
Accumulated Depreciation | (26,837) | (26,837) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 14,270 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 41,107 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 26,837 | |||
Country Walk Plaza [Member] | ||||
Initial Cost | ||||
Land | 18,713 | |||
Building & Improvements | 20,373 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 32 | |||
Total Cost | ||||
Land | 18,713 | |||
Building & Improvements | 20,405 | |||
Total | 39,118 | 39,118 | ||
Accumulated Depreciation | (754) | (754) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 38,364 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (16,000) | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 39,118 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 754 | |||
Countryside Shops [Member] | ||||
Initial Cost | ||||
Land | 17,982 | |||
Building & Improvements | 35,574 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 13,513 | |||
Total Cost | ||||
Land | 23,175 | |||
Building & Improvements | 43,894 | |||
Total | 67,069 | 67,069 | ||
Accumulated Depreciation | (7,352) | (7,352) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 59,717 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 67,069 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 7,352 | |||
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 | 695 | |||
Total Cost | ||||
Land | 108,841 | |||
Building & Improvements | 33,003 | |||
Total | 141,844 | 141,844 | ||
Accumulated Depreciation | (5,282) | (5,282) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 136,562 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 141,844 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 5,282 | |||
Danbury Green [Member] | ||||
Initial Cost | ||||
Land | 30,303 | |||
Building & Improvements | 19,255 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 432 | |||
Total Cost | ||||
Land | 30,303 | |||
Building & Improvements | 19,687 | |||
Total | 49,990 | 49,990 | ||
Accumulated Depreciation | (2,692) | (2,692) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 47,298 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 49,990 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 2,692 | |||
Dardenne Crossing [Member] | ||||
Initial Cost | ||||
Land | 4,194 | |||
Building & Improvements | 4,005 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 704 | |||
Total Cost | ||||
Land | 4,343 | |||
Building & Improvements | 4,560 | |||
Total | 8,903 | 8,903 | ||
Accumulated Depreciation | (2,208) | (2,208) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 6,695 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 8,903 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 2,208 | |||
Darinor Plaza [Member] | ||||
Initial Cost | ||||
Land | 693 | |||
Building & Improvements | 32,140 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 830 | |||
Total Cost | ||||
Land | 711 | |||
Building & Improvements | 32,952 | |||
Total | 33,663 | 33,663 | ||
Accumulated Depreciation | (4,708) | (4,708) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 28,955 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 33,663 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 4,708 | |||
Diablo Plaza [Member] | ||||
Initial Cost | ||||
Land | 5,300 | |||
Building & Improvements | 8,181 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 2,170 | |||
Total Cost | ||||
Land | 5,300 | |||
Building & Improvements | 10,351 | |||
Total | 15,651 | 15,651 | ||
Accumulated Depreciation | (6,041) | (6,041) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 9,610 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 15,651 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 6,041 | |||
Dunwoody Village [Member] | ||||
Initial Cost | ||||
Land | 3,342 | |||
Building & Improvements | 15,934 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 5,092 | |||
Total Cost | ||||
Land | 3,342 | |||
Building & Improvements | 21,026 | |||
Total | 24,368 | 24,368 | ||
Accumulated Depreciation | (15,986) | (15,986) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 8,382 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 24,368 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 15,986 | |||
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 | (6,348) | (6,348) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 4,713 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 11,061 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 6,348 | |||
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 | 12,968 | |||
Total Cost | ||||
Land | 10,328 | |||
Building & Improvements | 21,778 | |||
Total | 32,106 | 32,106 | ||
Accumulated Depreciation | (9,753) | (9,753) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 22,353 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 32,106 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 9,753 | |||
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 | 2,622 | |||
Total Cost | ||||
Land | 11,025 | |||
Building & Improvements | 29,993 | |||
Total | 41,018 | 41,018 | ||
Accumulated Depreciation | (12,499) | (12,499) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 28,519 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 41,018 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 12,499 | |||
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 | 3,308 | |||
Total Cost | ||||
Land | 3,263 | |||
Building & Improvements | 10,249 | |||
Total | 13,512 | 13,512 | ||
Accumulated Depreciation | (6,158) | (6,158) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 7,354 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 13,512 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 6,158 | |||
Encina Grande [Member] | ||||
Initial Cost | ||||
Land | 5,040 | |||
Building & Improvements | 11,572 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 20,063 | |||
Total Cost | ||||
Land | 10,518 | |||
Building & Improvements | 26,157 | |||
Total | 36,675 | 36,675 | ||
Accumulated Depreciation | (13,829) | (13,829) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 22,846 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 36,675 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 13,829 | |||
Fairfield Center [Member] | ||||
Initial Cost | ||||
Land | 6,731 | |||
Building & Improvements | 29,420 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,177 | |||
Total Cost | ||||
Land | 6,731 | |||
Building & Improvements | 30,597 | |||
Total | 37,328 | 37,328 | ||
Accumulated Depreciation | (6,498) | (6,498) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 30,830 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 37,328 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 6,498 | |||
Falcon Marketplace [Member] | ||||
Initial Cost | ||||
Land | 1,340 | |||
Building & Improvements | 4,168 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 554 | |||
Total Cost | ||||
Land | 1,340 | |||
Building & Improvements | 4,722 | |||
Total | 6,062 | 6,062 | ||
Accumulated Depreciation | (2,714) | (2,714) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 3,348 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 6,062 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 2,714 | |||
Fellsway Plaza [Member] | ||||
Initial Cost | ||||
Land | 30,712 | |||
Building & Improvements | 7,327 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 9,494 | |||
Total Cost | ||||
Land | 34,923 | |||
Building & Improvements | 12,610 | |||
Total | 47,533 | 47,533 | ||
Accumulated Depreciation | (6,467) | (6,467) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 41,066 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (36,592) | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 47,533 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 6,467 | |||
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 | (1,114) | (1,114) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 1,602 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 2,716 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 1,114 | |||
Fleming Island [Member] | ||||
Initial Cost | ||||
Land | 3,077 | |||
Building & Improvements | 11,587 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 3,066 | |||
Total Cost | ||||
Land | 3,111 | |||
Building & Improvements | 14,619 | |||
Total | 17,730 | 17,730 | ||
Accumulated Depreciation | (8,838) | (8,838) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 8,892 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 17,730 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 8,838 | |||
Fountain Square [Member] | ||||
Initial Cost | ||||
Land | 29,650 | |||
Building & Improvements | 29,036 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (248) | |||
Total Cost | ||||
Land | 29,712 | |||
Building & Improvements | 28,726 | |||
Total | 58,438 | 58,438 | ||
Accumulated Depreciation | (9,600) | (9,600) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 48,838 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 58,438 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 9,600 | |||
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 | 302 | |||
Total Cost | ||||
Land | 11,822 | |||
Building & Improvements | 17,260 | |||
Total | 29,082 | 29,082 | ||
Accumulated Depreciation | (14,190) | (14,190) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 14,892 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 29,082 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 14,190 | |||
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 | 1,985 | |||
Total Cost | ||||
Land | 6,660 | |||
Building & Improvements | 30,006 | |||
Total | 36,666 | 36,666 | ||
Accumulated Depreciation | (16,827) | (16,827) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 19,839 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 36,666 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 16,827 | |||
Gardens Square [Member] | ||||
Initial Cost | ||||
Land | 2,136 | |||
Building & Improvements | 8,273 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 739 | |||
Total Cost | ||||
Land | 2,136 | |||
Building & Improvements | 9,012 | |||
Total | 11,148 | 11,148 | ||
Accumulated Depreciation | (5,480) | (5,480) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 5,668 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 11,148 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 5,480 | |||
Gateway 101 [Member] | ||||
Initial Cost | ||||
Land | 24,971 | |||
Building & Improvements | 9,113 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,627 | |||
Total Cost | ||||
Land | 24,971 | |||
Building & Improvements | 10,740 | |||
Total | 35,711 | 35,711 | ||
Accumulated Depreciation | (4,421) | (4,421) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 31,290 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 35,711 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 4,421 | |||
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 | 11,023 | |||
Total Cost | ||||
Land | 55,346 | |||
Building & Improvements | 15,476 | |||
Total | 70,822 | 70,822 | ||
Accumulated Depreciation | (17,675) | (17,675) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 53,147 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 70,822 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 17,675 | |||
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 | 5,908 | |||
Total Cost | ||||
Land | 4,654 | |||
Building & Improvements | 15,564 | |||
Total | 20,218 | 20,218 | ||
Accumulated Depreciation | (8,309) | (8,309) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 11,909 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 20,218 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 8,309 | |||
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 | 961 | |||
Total Cost | ||||
Land | 4,103 | |||
Building & Improvements | 13,912 | |||
Total | 18,015 | 18,015 | ||
Accumulated Depreciation | (4,734) | (4,734) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 13,281 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 18,015 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 4,734 | |||
Glengary Shoppes [Member] | ||||
Initial Cost | ||||
Land | 9,120 | |||
Building & Improvements | 11,541 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 855 | |||
Total Cost | ||||
Land | 9,120 | |||
Building & Improvements | 12,396 | |||
Total | 21,516 | 21,516 | ||
Accumulated Depreciation | (2,097) | (2,097) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 19,419 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 21,516 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 2,097 | |||
Glenwood Village [Member] | ||||
Initial Cost | ||||
Land | 1,194 | |||
Building & Improvements | 5,381 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 326 | |||
Total Cost | ||||
Land | 1,194 | |||
Building & Improvements | 5,707 | |||
Total | 6,901 | 6,901 | ||
Accumulated Depreciation | (4,644) | (4,644) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 2,257 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 6,901 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 4,644 | |||
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 | 3,619 | |||
Total Cost | ||||
Land | 11,518 | |||
Building & Improvements | 23,282 | |||
Total | 34,800 | 34,800 | ||
Accumulated Depreciation | (10,743) | (10,743) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 24,057 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 34,800 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 10,743 | |||
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 | 5,874 | |||
Total Cost | ||||
Land | 24,918 | |||
Building & Improvements | 66,197 | |||
Total | 91,115 | 91,115 | ||
Accumulated Depreciation | (23,405) | (23,405) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 67,710 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 91,115 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 23,405 | |||
Greenwood Shopping Centre [Member] | ||||
Initial Cost | ||||
Land | 7,777 | |||
Building & Improvements | 24,829 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 504 | |||
Total Cost | ||||
Land | 7,777 | |||
Building & Improvements | 25,333 | |||
Total | 33,110 | 33,110 | ||
Accumulated Depreciation | (3,912) | (3,912) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 29,198 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 33,110 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 3,912 | |||
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 | 696 | |||
Total Cost | ||||
Land | 28,764 | |||
Building & Improvements | 25,809 | |||
Total | 54,573 | 54,573 | ||
Accumulated Depreciation | (4,150) | (4,150) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 50,423 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 54,573 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 4,150 | |||
Hancock [Member] | ||||
Initial Cost | ||||
Land | 8,232 | |||
Building & Improvements | 28,260 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,797 | |||
Total Cost | ||||
Land | 8,232 | |||
Building & Improvements | 30,057 | |||
Total | 38,289 | 38,289 | ||
Accumulated Depreciation | (17,255) | (17,255) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 21,034 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 38,289 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 17,255 | |||
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 | 778 | |||
Total Cost | ||||
Land | 2,284 | |||
Building & Improvements | 10,221 | |||
Total | 12,505 | 12,505 | ||
Accumulated Depreciation | (5,890) | (5,890) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 6,615 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 12,505 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 5,890 | |||
Heritage Plaza [Member] | ||||
Initial Cost | ||||
Land | 12,390 | |||
Building & Improvements | 26,097 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 13,787 | |||
Total Cost | ||||
Land | 12,215 | |||
Building & Improvements | 40,059 | |||
Total | 52,274 | 52,274 | ||
Accumulated Depreciation | (19,489) | (19,489) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 32,785 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 52,274 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 19,489 | |||
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 | (498) | (498) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 327 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 825 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 498 | |||
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 | 765 | |||
Total Cost | ||||
Land | 11,850 | |||
Building & Improvements | 18,970 | |||
Total | 30,820 | 30,820 | ||
Accumulated Depreciation | (1,906) | (1,906) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 28,914 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (9,235) | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 30,820 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 1,906 | |||
Hibernia Pavilion [Member] | ||||
Initial Cost | ||||
Land | 4,929 | |||
Building & Improvements | 5,065 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 216 | |||
Total Cost | ||||
Land | 4,929 | |||
Building & Improvements | 5,281 | |||
Total | 10,210 | 10,210 | ||
Accumulated Depreciation | (3,606) | (3,606) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 6,604 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 10,210 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 3,606 | |||
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 | 377 | |||
Total Cost | ||||
Land | 5,629 | |||
Building & Improvements | 4,941 | |||
Total | 10,570 | 10,570 | ||
Accumulated Depreciation | (5,023) | (5,023) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 5,547 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 10,570 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 5,023 | |||
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 | (1,096) | (1,096) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 2,464 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 3,560 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 1,096 | |||
Hilltop Village [Member] | ||||
Initial Cost | ||||
Land | 2,995 | |||
Building & Improvements | 4,581 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 3,714 | |||
Total Cost | ||||
Land | 3,104 | |||
Building & Improvements | 8,186 | |||
Total | 11,290 | 11,290 | ||
Accumulated Depreciation | (3,603) | (3,603) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 7,687 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 11,290 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 3,603 | |||
Hinsdale [Member] | ||||
Initial Cost | ||||
Land | 5,734 | |||
Building & Improvements | 16,709 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 11,831 | |||
Total Cost | ||||
Land | 8,343 | |||
Building & Improvements | 25,931 | |||
Total | 34,274 | 34,274 | ||
Accumulated Depreciation | (14,822) | (14,822) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 19,452 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 34,274 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 14,822 | |||
Holly Park [Member] | ||||
Initial Cost | ||||
Land | 8,975 | |||
Building & Improvements | 23,799 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 2,416 | |||
Total Cost | ||||
Land | 8,828 | |||
Building & Improvements | 26,362 | |||
Total | 35,190 | 35,190 | ||
Accumulated Depreciation | (6,374) | (6,374) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 28,816 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 35,190 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 6,374 | |||
Homestead McDonald's [Member] | ||||
Initial Cost | ||||
Land | 2,229 | |||
Total Cost | ||||
Land | 2,229 | |||
Total | 2,229 | 2,229 | ||
Accumulated Depreciation | (30) | (30) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 2,199 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 2,229 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 30 | |||
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 | 2,888 | |||
Total Cost | ||||
Land | 5,157 | |||
Building & Improvements | 17,167 | |||
Total | 22,324 | 22,324 | ||
Accumulated Depreciation | (7,456) | (7,456) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 14,868 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 22,324 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 7,456 | |||
Hyde Park [Member] | ||||
Initial Cost | ||||
Land | 9,809 | |||
Building & Improvements | 39,905 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 6,945 | |||
Total Cost | ||||
Land | 9,809 | |||
Building & Improvements | 46,850 | |||
Total | 56,659 | 56,659 | ||
Accumulated Depreciation | (27,741) | (27,741) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 28,918 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 56,659 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 27,741 | |||
Indian Springs Center [Member] | ||||
Initial Cost | ||||
Land | 24,974 | |||
Building & Improvements | 25,903 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 683 | |||
Total Cost | ||||
Land | 25,034 | |||
Building & Improvements | 26,526 | |||
Total | 51,560 | 51,560 | ||
Accumulated Depreciation | (5,974) | (5,974) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 45,586 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 51,560 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 5,974 | |||
Indigo Square [Member] | ||||
Initial Cost | ||||
Land | 8,088 | |||
Building & Improvements | 9,712 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 58 | |||
Total Cost | ||||
Land | 8,088 | |||
Building & Improvements | 9,770 | |||
Total | 17,858 | 17,858 | ||
Accumulated Depreciation | (1,137) | (1,137) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 16,721 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 17,858 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 1,137 | |||
Inglewood Plaza [Member] | ||||
Initial Cost | ||||
Land | 1,300 | |||
Building & Improvements | 2,159 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 834 | |||
Total Cost | ||||
Land | 1,300 | |||
Building & Improvements | 2,993 | |||
Total | 4,293 | 4,293 | ||
Accumulated Depreciation | (1,719) | (1,719) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 2,574 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 4,293 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 1,719 | |||
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 | 901 | |||
Total Cost | ||||
Land | 2,404 | |||
Building & Improvements | 13,632 | |||
Total | 16,036 | 16,036 | ||
Accumulated Depreciation | (7,487) | (7,487) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 8,549 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 16,036 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 7,487 | |||
Kirkman Shoppes [Member] | ||||
Initial Cost | ||||
Land | 9,364 | |||
Building & Improvements | 26,243 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 528 | |||
Total Cost | ||||
Land | 9,367 | |||
Building & Improvements | 26,768 | |||
Total | 36,135 | 36,135 | ||
Accumulated Depreciation | (3,737) | (3,737) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 32,398 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 36,135 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 3,737 | |||
Kirkwood Commons [Member] | ||||
Initial Cost | ||||
Land | 6,772 | |||
Building & Improvements | 16,224 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 929 | |||
Total Cost | ||||
Land | 6,802 | |||
Building & Improvements | 17,123 | |||
Total | 23,925 | 23,925 | ||
Accumulated Depreciation | (5,611) | (5,611) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 18,314 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (7,302) | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 23,925 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 5,611 | |||
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 | 552 | |||
Total Cost | ||||
Land | 14,451 | |||
Building & Improvements | 20,641 | |||
Total | 35,092 | 35,092 | ||
Accumulated Depreciation | (3,462) | (3,462) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 31,630 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 35,092 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 3,462 | |||
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 | 1,396 | |||
Total Cost | ||||
Land | 3,844 | |||
Building & Improvements | 7,995 | |||
Total | 11,839 | 11,839 | ||
Accumulated Depreciation | (6,020) | (6,020) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 5,819 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 11,839 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 6,020 | |||
Lake Mary Centre [Member] | ||||
Initial Cost | ||||
Land | 24,036 | |||
Building & Improvements | 57,476 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 2,034 | |||
Total Cost | ||||
Land | 24,036 | |||
Building & Improvements | 59,510 | |||
Total | 83,546 | 83,546 | ||
Accumulated Depreciation | (9,501) | (9,501) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 74,045 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 83,546 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 9,501 | |||
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 | 932 | |||
Total Cost | ||||
Land | 2,029 | |||
Building & Improvements | 8,543 | |||
Total | 10,572 | 10,572 | ||
Accumulated Depreciation | (5,120) | (5,120) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 5,452 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 10,572 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 5,120 | |||
Lantana Outparcels [Member] | ||||
Initial Cost | ||||
Land | 3,710 | |||
Building & Improvements | 1,004 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (2,717) | |||
Total Cost | ||||
Land | 1,148 | |||
Building & Improvements | 849 | |||
Total | 1,997 | 1,997 | ||
Accumulated Depreciation | (141) | (141) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 1,856 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 1,997 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 141 | |||
Lebanon Center [Member] | ||||
Initial Cost | ||||
Land | 3,913 | |||
Building & Improvements | 7,874 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 938 | |||
Total Cost | ||||
Land | 3,913 | |||
Building & Improvements | 8,812 | |||
Total | 12,725 | 12,725 | ||
Accumulated Depreciation | (6,458) | (6,458) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 6,267 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 12,725 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 6,458 | |||
Littleton Square [Member] | ||||
Initial Cost | ||||
Land | 2,030 | |||
Building & Improvements | 8,859 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (3,572) | |||
Total Cost | ||||
Land | 2,423 | |||
Building & Improvements | 4,894 | |||
Total | 7,317 | 7,317 | ||
Accumulated Depreciation | (2,682) | (2,682) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 4,635 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 7,317 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 2,682 | |||
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 | 1,277 | |||
Total Cost | ||||
Land | 1,779 | |||
Building & Improvements | 11,337 | |||
Total | 13,116 | 13,116 | ||
Accumulated Depreciation | (6,850) | (6,850) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 6,266 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 13,116 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 6,850 | |||
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 | 4,060 | |||
Total Cost | ||||
Land | 16,343 | |||
Building & Improvements | 16,673 | |||
Total | 33,016 | 33,016 | ||
Accumulated Depreciation | (10,883) | (10,883) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 22,133 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 33,016 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 10,883 | |||
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 | (4,279) | (4,279) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 31,206 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 35,485 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 4,279 | |||
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 | 73 | |||
Total Cost | ||||
Land | 6,160 | |||
Building & Improvements | 10,207 | |||
Total | 16,367 | 16,367 | ||
Accumulated Depreciation | (4,833) | (4,833) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 11,534 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 16,367 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 4,833 | |||
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 | 1,769 | |||
Total Cost | ||||
Land | 4,400 | |||
Building & Improvements | 13,214 | |||
Total | 17,614 | 17,614 | ||
Accumulated Depreciation | (7,683) | (7,683) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 9,931 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 17,614 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 7,683 | |||
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 | 6,614 | |||
Total Cost | ||||
Land | 1,996 | |||
Building & Improvements | 16,294 | |||
Total | 18,290 | 18,290 | ||
Accumulated Depreciation | (10,738) | (10,738) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 7,552 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 18,290 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 10,738 | |||
Market at Springwoods Village [Member] | ||||
Initial Cost | ||||
Land | 12,590 | |||
Building & Improvements | 12,781 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (83) | |||
Total Cost | ||||
Land | 12,590 | |||
Building & Improvements | 12,698 | |||
Total | 25,288 | 25,288 | ||
Accumulated Depreciation | (2,690) | (2,690) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 22,598 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (6,350) | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 25,288 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 2,690 | |||
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 | (3,854) | |||
Total Cost | ||||
Land | 154,932 | |||
Building & Improvements | 122,474 | |||
Total | 277,406 | 277,406 | ||
Accumulated Depreciation | (18,036) | (18,036) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 259,370 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 277,406 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 18,036 | |||
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 | 199 | |||
Total Cost | ||||
Land | 1,727 | |||
Building & Improvements | 5,063 | |||
Total | 6,790 | 6,790 | ||
Accumulated Depreciation | (3,093) | (3,093) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 3,697 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 6,790 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 3,093 | |||
Mellody Farm [Member] | ||||
Initial Cost | ||||
Land | 35,726 | |||
Building & Improvements | 66,165 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (1) | |||
Total Cost | ||||
Land | 35,726 | |||
Building & Improvements | 66,164 | |||
Total | 101,890 | 101,890 | ||
Accumulated Depreciation | (7,180) | (7,180) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 94,710 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 101,890 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 7,180 | |||
Melrose Market [Member] | ||||
Initial Cost | ||||
Land | 4,451 | |||
Building & Improvements | 10,807 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (74) | |||
Total Cost | ||||
Land | 4,451 | |||
Building & Improvements | 10,733 | |||
Total | 15,184 | 15,184 | ||
Accumulated Depreciation | (1,264) | (1,264) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 13,920 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 15,184 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 1,264 | |||
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 | 5,990 | |||
Total Cost | ||||
Land | 1,901 | |||
Building & Improvements | 10,520 | |||
Total | 12,421 | 12,421 | ||
Accumulated Depreciation | (7,550) | (7,550) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 4,871 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 12,421 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 7,550 | |||
Mockingbird Commons [Member] | ||||
Initial Cost | ||||
Land | 3,000 | |||
Building & Improvements | 10,728 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 2,464 | |||
Total Cost | ||||
Land | 3,000 | |||
Building & Improvements | 13,192 | |||
Total | 16,192 | 16,192 | ||
Accumulated Depreciation | (7,455) | (7,455) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 8,737 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 16,192 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 7,455 | |||
Monument Jackson Creek | ||||
Initial Cost | ||||
Land | 2,999 | |||
Building & Improvements | 6,765 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 919 | |||
Total Cost | ||||
Land | 2,999 | |||
Building & Improvements | 7,684 | |||
Total | 10,683 | 10,683 | ||
Accumulated Depreciation | (5,965) | (5,965) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 4,718 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 10,683 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 5,965 | |||
Morningside Plaza [Member] | ||||
Initial Cost | ||||
Land | 4,300 | |||
Building & Improvements | 13,951 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 969 | |||
Total Cost | ||||
Land | 4,300 | |||
Building & Improvements | 14,920 | |||
Total | 19,220 | 19,220 | ||
Accumulated Depreciation | (8,615) | (8,615) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 10,605 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 19,220 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 8,615 | |||
Murrayhill Marketplace [Member] | ||||
Initial Cost | ||||
Land | 2,670 | |||
Building & Improvements | 18,401 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 14,460 | |||
Total Cost | ||||
Land | 2,903 | |||
Building & Improvements | 32,628 | |||
Total | 35,531 | 35,531 | ||
Accumulated Depreciation | (15,919) | (15,919) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 19,612 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 35,531 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 15,919 | |||
Naples Walk [Member] | ||||
Initial Cost | ||||
Land | 18,173 | |||
Building & Improvements | 13,554 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,821 | |||
Total Cost | ||||
Land | 18,173 | |||
Building & Improvements | 15,375 | |||
Total | 33,548 | 33,548 | ||
Accumulated Depreciation | (7,150) | (7,150) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 26,398 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 33,548 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 7,150 | |||
Newberry Square [Member] | ||||
Initial Cost | ||||
Land | 2,412 | |||
Building & Improvements | 10,150 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,270 | |||
Total Cost | ||||
Land | 2,412 | |||
Building & Improvements | 11,420 | |||
Total | 13,832 | 13,832 | ||
Accumulated Depreciation | (9,034) | (9,034) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 4,798 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 13,832 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 9,034 | |||
Newland Center [Member] | ||||
Initial Cost | ||||
Land | 12,500 | |||
Building & Improvements | 10,697 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 8,648 | |||
Total Cost | ||||
Land | 16,276 | |||
Building & Improvements | 15,569 | |||
Total | 31,845 | 31,845 | ||
Accumulated Depreciation | (9,589) | (9,589) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 22,256 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 31,845 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 9,589 | |||
Nocatee Town Center [Member] | ||||
Initial Cost | ||||
Land | 10,124 | |||
Building & Improvements | 8,691 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 8,596 | |||
Total Cost | ||||
Land | 11,035 | |||
Building & Improvements | 16,376 | |||
Total | 27,411 | 27,411 | ||
Accumulated Depreciation | (7,575) | (7,575) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 19,836 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 27,411 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 7,575 | |||
North Hills [Member] | ||||
Initial Cost | ||||
Land | 4,900 | |||
Building & Improvements | 19,774 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,517 | |||
Total Cost | ||||
Land | 4,900 | |||
Building & Improvements | 21,291 | |||
Total | 26,191 | 26,191 | ||
Accumulated Depreciation | (13,277) | (13,277) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 12,914 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 26,191 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 13,277 | |||
Northgate Marketplace [Member] | ||||
Initial Cost | ||||
Land | 5,668 | |||
Building & Improvements | 13,727 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (48) | |||
Total Cost | ||||
Land | 4,995 | |||
Building & Improvements | 14,352 | |||
Total | 19,347 | 19,347 | ||
Accumulated Depreciation | (6,297) | (6,297) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 13,050 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 19,347 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 6,297 | |||
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 | 133 | |||
Total Cost | ||||
Land | 12,189 | |||
Building & Improvements | 30,304 | |||
Total | 42,493 | 42,493 | ||
Accumulated Depreciation | (6,115) | (6,115) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 36,378 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 42,493 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 6,115 | |||
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 | (5,756) | (5,756) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 7,626 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 13,382 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 5,756 | |||
Northgate Square [Member] | ||||
Initial Cost | ||||
Land | 5,011 | |||
Building & Improvements | 8,692 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,053 | |||
Total Cost | ||||
Land | 5,011 | |||
Building & Improvements | 9,745 | |||
Total | 14,756 | 14,756 | ||
Accumulated Depreciation | (4,720) | (4,720) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 10,036 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 14,756 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 4,720 | |||
Northlake Village [Member] | ||||
Initial Cost | ||||
Land | 2,662 | |||
Building & Improvements | 11,284 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (174) | |||
Total Cost | ||||
Land | 2,662 | |||
Building & Improvements | 11,110 | |||
Total | 13,772 | 13,772 | ||
Accumulated Depreciation | (6,295) | (6,295) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 7,477 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 13,772 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 6,295 | |||
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 | (10,268) | (10,268) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 25,962 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (6,301) | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 36,230 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 10,268 | |||
Oakbrook Plaza [Member] | ||||
Initial Cost | ||||
Land | 4,000 | |||
Building & Improvements | 6,668 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 5,756 | |||
Total Cost | ||||
Land | 4,766 | |||
Building & Improvements | 11,658 | |||
Total | 16,424 | 16,424 | ||
Accumulated Depreciation | (5,262) | (5,262) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 11,162 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 16,424 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 5,262 | |||
Oakleaf Commons [Member] | ||||
Initial Cost | ||||
Land | 3,503 | |||
Building & Improvements | 11,671 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 839 | |||
Total Cost | ||||
Land | 3,190 | |||
Building & Improvements | 12,823 | |||
Total | 16,013 | 16,013 | ||
Accumulated Depreciation | (7,041) | (7,041) | ||
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 | 16,013 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 7,041 | |||
Ocala Corners [Member] | ||||
Initial Cost | ||||
Land | 1,816 | |||
Building & Improvements | 10,515 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 528 | |||
Total Cost | ||||
Land | 1,816 | |||
Building & Improvements | 11,043 | |||
Total | 12,859 | 12,859 | ||
Accumulated Depreciation | (4,773) | (4,773) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 8,086 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 12,859 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 4,773 | |||
Old St Augustine Plaza [Member] | ||||
Initial Cost | ||||
Land | 2,368 | |||
Building & Improvements | 11,405 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 13,437 | |||
Total Cost | ||||
Land | 3,454 | |||
Building & Improvements | 23,756 | |||
Total | 27,210 | 27,210 | ||
Accumulated Depreciation | (9,218) | (9,218) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 17,992 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 27,210 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 9,218 | |||
Pablo Plaza [Member] | ||||
Initial Cost | ||||
Land | 11,894 | |||
Building & Improvements | 21,407 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 9,314 | |||
Total Cost | ||||
Land | 13,320 | |||
Building & Improvements | 29,295 | |||
Total | 42,615 | 42,615 | ||
Accumulated Depreciation | (3,973) | (3,973) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 38,642 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 42,615 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 3,973 | |||
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 | 15,553 | |||
Total Cost | ||||
Land | 8,378 | |||
Building & Improvements | 22,626 | |||
Total | 31,004 | 31,004 | ||
Accumulated Depreciation | (11,089) | (11,089) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 19,915 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 31,004 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 11,089 | |||
Panther Creek [Member] | ||||
Initial Cost | ||||
Land | 14,414 | |||
Building & Improvements | 14,748 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 5,837 | |||
Total Cost | ||||
Land | 15,212 | |||
Building & Improvements | 19,787 | |||
Total | 34,999 | 34,999 | ||
Accumulated Depreciation | (14,247) | (14,247) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 20,752 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 34,999 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 14,247 | |||
Pavillion [Member] | ||||
Initial Cost | ||||
Land | 15,626 | |||
Building & Improvements | 22,124 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 679 | |||
Total Cost | ||||
Land | 15,626 | |||
Building & Improvements | 22,803 | |||
Total | 38,429 | 38,429 | ||
Accumulated Depreciation | (3,869) | (3,869) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 34,560 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 38,429 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 3,869 | |||
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 | (13,475) | (13,475) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 12,346 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 25,821 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 13,475 | |||
Persimmon Place [Member] | ||||
Initial Cost | ||||
Land | 25,975 | |||
Building & Improvements | 38,114 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (115) | |||
Total Cost | ||||
Land | 26,692 | |||
Building & Improvements | 37,282 | |||
Total | 63,974 | 63,974 | ||
Accumulated Depreciation | (11,634) | (11,634) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 52,340 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 63,974 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 11,634 | |||
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 | 133 | |||
Total Cost | ||||
Land | 45,502 | |||
Building & Improvements | 16,775 | |||
Total | 62,277 | 62,277 | ||
Accumulated Depreciation | (2,765) | (2,765) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 59,512 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 62,277 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 2,765 | |||
Pike Creek [Member] | ||||
Initial Cost | ||||
Land | 5,153 | |||
Building & Improvements | 20,652 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 2,601 | |||
Total Cost | ||||
Land | 5,251 | |||
Building & Improvements | 23,155 | |||
Total | 28,406 | 28,406 | ||
Accumulated Depreciation | (13,839) | (13,839) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 14,567 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 28,406 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 13,839 | |||
Pine Island [Member] | ||||
Initial Cost | ||||
Land | 21,086 | |||
Building & Improvements | 28,123 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 3,113 | |||
Total Cost | ||||
Land | 21,086 | |||
Building & Improvements | 31,236 | |||
Total | 52,322 | 52,322 | ||
Accumulated Depreciation | (5,845) | (5,845) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 46,477 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 52,322 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 5,845 | |||
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 | 1,556 | |||
Total Cost | ||||
Land | 6,300 | |||
Building & Improvements | 12,547 | |||
Total | 18,847 | 18,847 | ||
Accumulated Depreciation | (7,181) | (7,181) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 11,666 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 18,847 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 7,181 | |||
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 | 463 | |||
Total Cost | ||||
Land | 13,951 | |||
Building & Improvements | 23,610 | |||
Total | 37,561 | 37,561 | ||
Accumulated Depreciation | (3,656) | (3,656) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 33,905 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 37,561 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 3,656 | |||
Pine Tree Plaza [Member] | ||||
Initial Cost | ||||
Land | 668 | |||
Building & Improvements | 6,220 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 769 | |||
Total Cost | ||||
Land | 668 | |||
Building & Improvements | 6,989 | |||
Total | 7,657 | 7,657 | ||
Accumulated Depreciation | (4,020) | (4,020) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 3,637 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 7,657 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 4,020 | |||
Pinecrest Place [Member] | ||||
Initial Cost | ||||
Land | 3,839 | |||
Building & Improvements | 13,437 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (201) | |||
Total Cost | ||||
Land | 3,638 | |||
Building & Improvements | 13,437 | |||
Total | 17,075 | 17,075 | ||
Accumulated Depreciation | (1,646) | (1,646) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 15,429 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 17,075 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 1,646 | |||
Plaza Escuela [Member] | ||||
Initial Cost | ||||
Land | 24,829 | |||
Building & Improvements | 104,395 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,218 | |||
Total Cost | ||||
Land | 24,829 | |||
Building & Improvements | 105,613 | |||
Total | 130,442 | 130,442 | ||
Accumulated Depreciation | (11,126) | (11,126) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 119,316 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 130,442 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 11,126 | |||
Plaza Hermosa [Member] | ||||
Initial Cost | ||||
Land | 4,200 | |||
Building & Improvements | 10,109 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 3,608 | |||
Total Cost | ||||
Land | 4,202 | |||
Building & Improvements | 13,715 | |||
Total | 17,917 | 17,917 | ||
Accumulated Depreciation | (7,587) | (7,587) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 10,330 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 17,917 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 7,587 | |||
Point 50 [Member] | ||||
Initial Cost | ||||
Land | 15,239 | |||
Building & Improvements | 11,367 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (1,040) | |||
Total Cost | ||||
Land | 15,738 | |||
Building & Improvements | 9,828 | |||
Total | 25,566 | 25,566 | ||
Accumulated Depreciation | (51) | (51) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 25,515 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 25,566 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 51 | |||
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 | 6,572 | |||
Total Cost | ||||
Land | 19,386 | |||
Building & Improvements | 20,276 | |||
Total | 39,662 | 39,662 | ||
Accumulated Depreciation | (4,176) | (4,176) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 35,486 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 39,662 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 4,176 | |||
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 | (786) | (786) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 19,803 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 20,589 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 786 | |||
Potrero Center [Member] | ||||
Initial Cost | ||||
Land | 133,422 | |||
Building & Improvements | 116,758 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,279 | |||
Total Cost | ||||
Land | 133,422 | |||
Building & Improvements | 118,037 | |||
Total | 251,459 | 251,459 | ||
Accumulated Depreciation | (12,894) | (12,894) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 238,565 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 251,459 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 12,894 | |||
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 | 3,039 | |||
Total Cost | ||||
Land | 8,248 | |||
Building & Improvements | 33,755 | |||
Total | 42,003 | 42,003 | ||
Accumulated Depreciation | (16,814) | (16,814) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 25,189 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 42,003 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 16,814 | |||
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 | 9,567 | |||
Total Cost | ||||
Land | 5,758 | |||
Building & Improvements | 25,461 | |||
Total | 31,219 | 31,219 | ||
Accumulated Depreciation | (18,419) | (18,419) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 12,800 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 31,219 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 18,419 | |||
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 | 764 | |||
Total Cost | ||||
Land | 1,191 | |||
Building & Improvements | 5,436 | |||
Total | 6,627 | 6,627 | ||
Accumulated Depreciation | (4,182) | (4,182) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 2,445 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 6,627 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 4,182 | |||
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 | 729 | |||
Total Cost | ||||
Land | 4,164 | |||
Building & Improvements | 13,761 | |||
Total | 17,925 | 17,925 | ||
Accumulated Depreciation | (7,007) | (7,007) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 10,918 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 17,925 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 7,007 | |||
Preston Oaks [Member] | ||||
Initial Cost | ||||
Land | 763 | |||
Building & Improvements | 30,438 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (19,425) | |||
Total Cost | ||||
Land | 569 | |||
Building & Improvements | 11,207 | |||
Total | 11,776 | 11,776 | ||
Accumulated Depreciation | (2,741) | (2,741) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 9,035 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 11,776 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 2,741 | |||
Prestonbrook [Member] | ||||
Initial Cost | ||||
Land | 7,069 | |||
Building & Improvements | 8,622 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,180 | |||
Total Cost | ||||
Land | 7,069 | |||
Building & Improvements | 9,802 | |||
Total | 16,871 | 16,871 | ||
Accumulated Depreciation | (7,304) | (7,304) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 9,567 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 16,871 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 7,304 | |||
Prosperity Centre [Member] | ||||
Initial Cost | ||||
Land | 11,682 | |||
Building & Improvements | 26,215 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 188 | |||
Total Cost | ||||
Land | 11,681 | |||
Building & Improvements | 26,404 | |||
Total | 38,085 | 38,085 | ||
Accumulated Depreciation | (3,809) | (3,809) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 34,276 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 38,085 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 3,809 | |||
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 | (1,167) | (1,167) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 26,187 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 27,354 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 1,167 | |||
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 | 1,938 | |||
Total Cost | ||||
Land | 10,514 | |||
Building & Improvements | 11,260 | |||
Total | 21,774 | 21,774 | ||
Accumulated Depreciation | (3,734) | (3,734) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 18,040 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 21,774 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 3,734 | |||
Regency Commons [Member] | ||||
Initial Cost | ||||
Land | 3,917 | |||
Building & Improvements | 3,616 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 300 | |||
Total Cost | ||||
Land | 3,917 | |||
Building & Improvements | 3,916 | |||
Total | 7,833 | 7,833 | ||
Accumulated Depreciation | (2,726) | (2,726) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 5,107 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 7,833 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 2,726 | |||
Regency Square [Member] | ||||
Initial Cost | ||||
Land | 4,770 | |||
Building & Improvements | 25,191 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 6,488 | |||
Total Cost | ||||
Land | 5,060 | |||
Building & Improvements | 31,389 | |||
Total | 36,449 | 36,449 | ||
Accumulated Depreciation | (24,600) | (24,600) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 11,849 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 36,449 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 24,600 | |||
Rivertowns Square [Member] | ||||
Initial Cost | ||||
Land | 15,505 | |||
Building & Improvements | 52,505 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 2,486 | |||
Total Cost | ||||
Land | 16,779 | |||
Building & Improvements | 53,717 | |||
Total | 70,496 | 70,496 | ||
Accumulated Depreciation | (4,513) | (4,513) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 65,983 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 70,496 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 4,513 | |||
Rona Plaza [Member] | ||||
Initial Cost | ||||
Land | 1,500 | |||
Building & Improvements | 4,917 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 288 | |||
Total Cost | ||||
Land | 1,500 | |||
Building & Improvements | 5,205 | |||
Total | 6,705 | 6,705 | ||
Accumulated Depreciation | (3,248) | (3,248) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 3,457 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 6,705 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 3,248 | |||
Roosevelt Square [Member] | ||||
Initial Cost | ||||
Land | 40,371 | |||
Building & Improvements | 32,108 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 3,731 | |||
Total Cost | ||||
Land | 40,382 | |||
Building & Improvements | 35,828 | |||
Total | 76,210 | 76,210 | ||
Accumulated Depreciation | (3,138) | (3,138) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 73,072 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 76,210 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 3,138 | |||
Russell Ridge [Member] | ||||
Initial Cost | ||||
Land | 2,234 | |||
Building & Improvements | 6,903 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,501 | |||
Total Cost | ||||
Land | 2,234 | |||
Building & Improvements | 8,404 | |||
Total | 10,638 | 10,638 | ||
Accumulated Depreciation | (5,659) | (5,659) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 4,979 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 10,638 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 5,659 | |||
Ryanwood Square [Member] | ||||
Initial Cost | ||||
Land | 10,581 | |||
Building & Improvements | 10,044 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 167 | |||
Total Cost | ||||
Land | 10,573 | |||
Building & Improvements | 10,219 | |||
Total | 20,792 | 20,792 | ||
Accumulated Depreciation | (2,027) | (2,027) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 18,765 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 20,792 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 2,027 | |||
Salerno Village [Member] | ||||
Initial Cost | ||||
Land | 1,355 | |||
Total Cost | ||||
Land | 1,355 | |||
Total | 1,355 | 1,355 | ||
Accumulated Depreciation | (19) | (19) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 1,336 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 1,355 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 19 | |||
Sammamish-Highlands [Member] | ||||
Initial Cost | ||||
Land | 9,300 | |||
Building & Improvements | 8,075 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 8,746 | |||
Total Cost | ||||
Land | 9,592 | |||
Building & Improvements | 16,529 | |||
Total | 26,121 | 26,121 | ||
Accumulated Depreciation | (10,207) | (10,207) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 15,914 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 26,121 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 10,207 | |||
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 | (6,559) | (6,559) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 87,653 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 94,212 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 6,559 | |||
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 | 713 | |||
Total Cost | ||||
Land | 1,300 | |||
Building & Improvements | 8,939 | |||
Total | 10,239 | 10,239 | ||
Accumulated Depreciation | (5,122) | (5,122) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 5,117 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 10,239 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 5,122 | |||
Sandy Springs [Member] | ||||
Initial Cost | ||||
Land | 6,889 | |||
Building & Improvements | 28,056 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 3,457 | |||
Total Cost | ||||
Land | 6,889 | |||
Building & Improvements | 31,513 | |||
Total | 38,402 | 38,402 | ||
Accumulated Depreciation | (8,851) | (8,851) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 29,551 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 38,402 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 8,851 | |||
Sawgrass Promenade [Member] | ||||
Initial Cost | ||||
Land | 10,846 | |||
Building & Improvements | 12,525 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 368 | |||
Total Cost | ||||
Land | 10,846 | |||
Building & Improvements | 12,893 | |||
Total | 23,739 | 23,739 | ||
Accumulated Depreciation | (2,216) | (2,216) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 21,523 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 23,739 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 2,216 | |||
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 | 688 | |||
Total Cost | ||||
Land | 59,949 | |||
Building & Improvements | 27,022 | |||
Total | 86,971 | 86,971 | ||
Accumulated Depreciation | (3,043) | (3,043) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 83,928 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 86,971 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 3,043 | |||
Sequoia Station [Member] | ||||
Initial Cost | ||||
Land | 9,100 | |||
Building & Improvements | 18,356 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 2,339 | |||
Total Cost | ||||
Land | 9,100 | |||
Building & Improvements | 20,695 | |||
Total | 29,795 | 29,795 | ||
Accumulated Depreciation | (11,754) | (11,754) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 18,041 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 29,795 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 11,754 | |||
Serramonte Center [Member] | ||||
Initial Cost | ||||
Land | 390,106 | |||
Building & Improvements | 172,652 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 53,680 | |||
Total Cost | ||||
Land | 409,840 | |||
Building & Improvements | 206,598 | |||
Total | 616,438 | 616,438 | ||
Accumulated Depreciation | (44,005) | (44,005) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 572,433 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 616,438 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 44,005 | |||
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 | (1,392) | (1,392) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 10,943 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 12,335 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 1,392 | |||
Sheridan Plaza [Member] | ||||
Initial Cost | ||||
Land | 82,260 | |||
Building & Improvements | 97,273 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 6,821 | |||
Total Cost | ||||
Land | 82,775 | |||
Building & Improvements | 103,579 | |||
Total | 186,354 | 186,354 | ||
Accumulated Depreciation | (13,520) | (13,520) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 172,834 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 186,354 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 13,520 | |||
Sherwood Crossroads [Member] | ||||
Initial Cost | ||||
Land | 2,731 | |||
Building & Improvements | 6,360 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,189 | |||
Total Cost | ||||
Land | 2,731 | |||
Building & Improvements | 7,549 | |||
Total | 10,280 | 10,280 | ||
Accumulated Depreciation | (3,743) | (3,743) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 6,537 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 10,280 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 3,743 | |||
Shoppes @ 104 [Member] | ||||
Initial Cost | ||||
Land | 11,193 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 2,371 | |||
Total Cost | ||||
Land | 7,078 | |||
Building & Improvements | 6,486 | |||
Total | 13,564 | 13,564 | ||
Accumulated Depreciation | (3,098) | (3,098) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 10,466 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 13,564 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 3,098 | |||
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 | 2,170 | |||
Total Cost | ||||
Land | 5,420 | |||
Building & Improvements | 11,620 | |||
Total | 17,040 | 17,040 | ||
Accumulated Depreciation | (6,650) | (6,650) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 10,390 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 17,040 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 6,650 | |||
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 | (82) | |||
Total Cost | ||||
Land | 8,323 | |||
Building & Improvements | 11,265 | |||
Total | 19,588 | 19,588 | ||
Accumulated Depreciation | (1,981) | (1,981) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 17,607 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 19,588 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 1,981 | |||
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 | 318 | |||
Total Cost | ||||
Land | 16,643 | |||
Building & Improvements | 15,409 | |||
Total | 32,052 | 32,052 | ||
Accumulated Depreciation | (3,099) | (3,099) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 28,953 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 32,052 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 3,099 | |||
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 | 581 | |||
Total Cost | ||||
Land | 5,091 | |||
Building & Improvements | 6,566 | |||
Total | 11,657 | 11,657 | ||
Accumulated Depreciation | (5,473) | (5,473) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 6,184 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 11,657 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 5,473 | |||
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 | 432 | |||
Total Cost | ||||
Land | 4,474 | |||
Building & Improvements | 6,060 | |||
Total | 10,534 | 10,534 | ||
Accumulated Depreciation | (956) | (956) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 9,578 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 10,534 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 956 | |||
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 | (456) | |||
Total Cost | ||||
Land | 20,538 | |||
Building & Improvements | 42,536 | |||
Total | 63,074 | 63,074 | ||
Accumulated Depreciation | (5,672) | (5,672) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 57,402 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (2,654) | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 63,074 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 5,672 | |||
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 | 80 | |||
Total Cost | ||||
Land | 17,529 | |||
Building & Improvements | 21,909 | |||
Total | 39,438 | 39,438 | ||
Accumulated Depreciation | (3,726) | (3,726) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 35,712 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 39,438 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 3,726 | |||
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 | 53 | |||
Total Cost | ||||
Land | 2,860 | |||
Building & Improvements | 1,369 | |||
Total | 4,229 | 4,229 | ||
Accumulated Depreciation | (279) | (279) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 3,950 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 4,229 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 279 | |||
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 | (39) | |||
Total Cost | ||||
Land | 2,834 | |||
Building & Improvements | 676 | |||
Total | 3,510 | 3,510 | ||
Accumulated Depreciation | (183) | (183) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 3,327 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 3,510 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 183 | |||
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 | 700 | |||
Total Cost | ||||
Land | 9,973 | |||
Building & Improvements | 11,980 | |||
Total | 21,953 | 21,953 | ||
Accumulated Depreciation | (10,301) | (10,301) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 11,652 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 21,953 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 10,301 | |||
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 | 256 | |||
Total Cost | ||||
Land | 9,087 | |||
Building & Improvements | 6,375 | |||
Total | 15,462 | 15,462 | ||
Accumulated Depreciation | (3,103) | (3,103) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 12,359 | |||
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 | 15,462 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 3,103 | |||
Shops at John's Creek [Member] | ||||
Initial Cost | ||||
Land | 1,863 | |||
Building & Improvements | 2,014 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (250) | |||
Total Cost | ||||
Land | 1,501 | |||
Building & Improvements | 2,126 | |||
Total | 3,627 | 3,627 | ||
Accumulated Depreciation | (1,497) | (1,497) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 2,130 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 3,627 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 1,497 | |||
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 | 207 | |||
Total Cost | ||||
Land | 11,691 | |||
Building & Improvements | 9,233 | |||
Total | 20,924 | 20,924 | ||
Accumulated Depreciation | (2,491) | (2,491) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 18,433 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (204) | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 20,924 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 2,491 | |||
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 | 704 | |||
Total Cost | ||||
Land | 1,448 | |||
Building & Improvements | 8,460 | |||
Total | 9,908 | 9,908 | ||
Accumulated Depreciation | (4,098) | (4,098) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 5,810 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 9,908 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 4,098 | |||
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 | (3) | |||
Total Cost | ||||
Land | 18,811 | |||
Building & Improvements | 18,371 | |||
Total | 37,182 | 37,182 | ||
Accumulated Depreciation | (11,141) | (11,141) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 26,041 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 37,182 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 11,141 | |||
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 | 1,737 | |||
Total Cost | ||||
Land | 85,117 | |||
Building & Improvements | 40,548 | |||
Total | 125,665 | 125,665 | ||
Accumulated Depreciation | (7,225) | (7,225) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 118,440 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 125,665 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 7,225 | |||
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 | 15,754 | |||
Total Cost | ||||
Land | 18,534 | |||
Building & Improvements | 41,295 | |||
Total | 59,829 | 59,829 | ||
Accumulated Depreciation | (12,297) | (12,297) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 47,532 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 59,829 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 12,297 | |||
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 | 3,267 | |||
Total Cost | ||||
Land | 3,332 | |||
Building & Improvements | 14,921 | |||
Total | 18,253 | 18,253 | ||
Accumulated Depreciation | (9,175) | (9,175) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 9,078 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 18,253 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 9,175 | |||
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 | 783 | |||
Total Cost | ||||
Land | 28,188 | |||
Building & Improvements | 54,188 | |||
Total | 82,376 | 82,376 | ||
Accumulated Depreciation | (8,247) | (8,247) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 74,129 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 82,376 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 8,247 | |||
South Point [Member] | ||||
Initial Cost | ||||
Land | 6,563 | |||
Building & Improvements | 7,939 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 94 | |||
Total Cost | ||||
Land | 6,563 | |||
Building & Improvements | 8,033 | |||
Total | 14,596 | 14,596 | ||
Accumulated Depreciation | (1,399) | (1,399) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 13,197 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 14,596 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 1,399 | |||
Southbury Green [Member] | ||||
Initial Cost | ||||
Land | 26,661 | |||
Building & Improvements | 34,325 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 5,465 | |||
Total Cost | ||||
Land | 29,670 | |||
Building & Improvements | 36,781 | |||
Total | 66,451 | 66,451 | ||
Accumulated Depreciation | (5,018) | (5,018) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 61,433 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 66,451 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 5,018 | |||
Southcenter | ||||
Initial Cost | ||||
Land | 1,300 | |||
Building & Improvements | 12,750 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 2,006 | |||
Total Cost | ||||
Land | 1,300 | |||
Building & Improvements | 14,756 | |||
Total | 16,056 | 16,056 | ||
Accumulated Depreciation | (8,503) | (8,503) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 7,553 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 16,056 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 8,503 | |||
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 | 7,401 | |||
Total Cost | ||||
Land | 21,438 | |||
Building & Improvements | 15,664 | |||
Total | 37,102 | 37,102 | ||
Accumulated Depreciation | (7,368) | (7,368) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 29,734 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 37,102 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 7,368 | |||
SouthPoint Crossing [Member] | ||||
Initial Cost | ||||
Land | 4,412 | |||
Building & Improvements | 12,235 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,190 | |||
Total Cost | ||||
Land | 4,382 | |||
Building & Improvements | 13,455 | |||
Total | 17,837 | 17,837 | ||
Accumulated Depreciation | (7,614) | (7,614) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 10,223 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 17,837 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 7,614 | |||
Starke [Member] | ||||
Initial Cost | ||||
Land | 71 | |||
Building & Improvements | 1,683 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 10 | |||
Total Cost | ||||
Land | 71 | |||
Building & Improvements | 1,693 | |||
Total | 1,764 | 1,764 | ||
Accumulated Depreciation | (857) | (857) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 907 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 1,764 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 857 | |||
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 | (1,922) | (1,922) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 42,679 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 44,601 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 1,922 | |||
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 | (2,114) | (2,114) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 34,315 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 36,429 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 2,114 | |||
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 | (1,940) | (1,940) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 33,411 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 35,351 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 1,940 | |||
Sterling Ridge [Member] | ||||
Initial Cost | ||||
Land | 12,846 | |||
Building & Improvements | 12,162 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 795 | |||
Total Cost | ||||
Land | 12,846 | |||
Building & Improvements | 12,957 | |||
Total | 25,803 | 25,803 | ||
Accumulated Depreciation | (10,271) | (10,271) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 15,532 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 25,803 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 10,271 | |||
Stroh Ranch [Member] | ||||
Initial Cost | ||||
Land | 4,280 | |||
Building & Improvements | 8,189 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 710 | |||
Total Cost | ||||
Land | 4,280 | |||
Building & Improvements | 8,899 | |||
Total | 13,179 | 13,179 | ||
Accumulated Depreciation | (6,781) | (6,781) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 6,398 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 13,179 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 6,781 | |||
Suncoast Crossing [Member] | ||||
Initial Cost | ||||
Land | 9,030 | |||
Building & Improvements | 10,764 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 4,553 | |||
Total Cost | ||||
Land | 13,374 | |||
Building & Improvements | 10,973 | |||
Total | 24,347 | 24,347 | ||
Accumulated Depreciation | (7,733) | (7,733) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 16,614 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 24,347 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 7,733 | |||
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 | 58 | |||
Total Cost | ||||
Land | 22,415 | |||
Building & Improvements | 12,112 | |||
Total | 34,527 | 34,527 | ||
Accumulated Depreciation | (1,734) | (1,734) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 32,793 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 34,527 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 1,734 | |||
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 | 838 | |||
Total Cost | ||||
Land | 12,584 | |||
Building & Improvements | 10,059 | |||
Total | 22,643 | 22,643 | ||
Accumulated Depreciation | (1,830) | (1,830) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 20,813 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 22,643 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 1,830 | |||
Tanasbourne Market [Member] | ||||
Initial Cost | ||||
Land | 3,269 | |||
Building & Improvements | 10,861 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (336) | |||
Total Cost | ||||
Land | 3,149 | |||
Building & Improvements | 10,645 | |||
Total | 13,794 | 13,794 | ||
Accumulated Depreciation | (5,864) | (5,864) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 7,930 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 13,794 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 5,864 | |||
Tassajara Crossing [Member] | ||||
Initial Cost | ||||
Land | 8,560 | |||
Building & Improvements | 15,464 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,960 | |||
Total Cost | ||||
Land | 8,560 | |||
Building & Improvements | 17,424 | |||
Total | 25,984 | 25,984 | ||
Accumulated Depreciation | (9,571) | (9,571) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 16,413 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 25,984 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 9,571 | |||
Tech Ridge Center [Member] | ||||
Initial Cost | ||||
Land | 12,945 | |||
Building & Improvements | 37,169 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 3,761 | |||
Total Cost | ||||
Land | 13,625 | |||
Building & Improvements | 40,250 | |||
Total | 53,875 | 53,875 | ||
Accumulated Depreciation | (14,071) | (14,071) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 39,804 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (3,346) | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 53,875 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 14,071 | |||
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 | (85) | (85) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 73,467 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 73,552 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 85 | |||
The Field at Commonwealth [Member] | ||||
Initial Cost | ||||
Land | 30,771 | |||
Building & Improvements | 18,010 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1 | |||
Total Cost | ||||
Land | 30,772 | |||
Building & Improvements | 18,010 | |||
Total | 48,782 | 48,782 | ||
Accumulated Depreciation | (3,913) | (3,913) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 44,869 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 48,782 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 3,913 | |||
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 | 3,014 | |||
Total Cost | ||||
Land | 108,653 | |||
Building & Improvements | 219,785 | |||
Total | 328,438 | 328,438 | ||
Accumulated Depreciation | (27,088) | (27,088) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 301,350 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 328,438 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 27,088 | |||
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 | 5,600 | |||
Total Cost | ||||
Land | 19,611 | |||
Building & Improvements | 66,668 | |||
Total | 86,279 | 86,279 | ||
Accumulated Depreciation | (16,702) | (16,702) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 69,577 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 86,279 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 16,702 | |||
The Marketplace [Member] | ||||
Initial Cost | ||||
Land | 10,927 | |||
Building & Improvements | 36,052 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 412 | |||
Total Cost | ||||
Land | 10,927 | |||
Building & Improvements | 36,464 | |||
Total | 47,391 | 47,391 | ||
Accumulated Depreciation | (4,801) | (4,801) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 42,590 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 47,391 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 4,801 | |||
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 | (15) | |||
Total Cost | ||||
Land | 1,718 | |||
Building & Improvements | 6,189 | |||
Total | 7,907 | 7,907 | ||
Accumulated Depreciation | (873) | (873) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 7,034 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 7,907 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 873 | |||
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 | 5,795 | |||
Total Cost | ||||
Land | 2,559 | |||
Building & Improvements | 13,741 | |||
Total | 16,300 | 16,300 | ||
Accumulated Depreciation | (2,922) | (2,922) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 13,378 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 16,300 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 2,922 | |||
The Pruneyard [Member] | ||||
Initial Cost | ||||
Land | 112,136 | |||
Building & Improvements | 86,918 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 900 | |||
Total Cost | ||||
Land | 112,136 | |||
Building & Improvements | 87,818 | |||
Total | 199,954 | 199,954 | ||
Accumulated Depreciation | (4,811) | (4,811) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 195,143 | |||
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 | 199,954 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 4,811 | |||
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 | (344) | |||
Total Cost | ||||
Land | 737 | |||
Building & Improvements | 134 | |||
Total | 871 | 871 | ||
Accumulated Depreciation | (61) | (61) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 810 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 871 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 61 | |||
The Village at Hunter's Lake [Member] | ||||
Initial Cost | ||||
Land | 7,544 | |||
Building & Improvements | 12,344 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 6 | |||
Total Cost | ||||
Land | 7,544 | |||
Building & Improvements | 12,350 | |||
Total | 19,894 | 19,894 | ||
Accumulated Depreciation | (546) | (546) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 19,348 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 19,894 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 546 | |||
The Village at Riverstone [Member] | ||||
Initial Cost | ||||
Land | 17,164 | |||
Building & Improvements | 13,142 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (85) | |||
Total Cost | ||||
Land | 17,164 | |||
Building & Improvements | 13,057 | |||
Total | 30,221 | 30,221 | ||
Accumulated Depreciation | (1,587) | (1,587) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 28,634 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 30,221 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 1,587 | |||
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 | 15 | |||
Total Cost | ||||
Land | 4,664 | |||
Building & Improvements | 5,222 | |||
Total | 9,886 | 9,886 | ||
Accumulated Depreciation | (1,268) | (1,268) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 8,618 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 9,886 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 1,268 | |||
Town Square [Member] | ||||
Initial Cost | ||||
Land | 883 | |||
Building & Improvements | 8,132 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 209 | |||
Total Cost | ||||
Land | 883 | |||
Building & Improvements | 8,341 | |||
Total | 9,224 | 9,224 | ||
Accumulated Depreciation | (5,253) | (5,253) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 3,971 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 9,224 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 5,253 | |||
Treasure Coast Plaza [Member] | ||||
Initial Cost | ||||
Land | 7,553 | |||
Building & Improvements | 21,554 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,009 | |||
Total Cost | ||||
Land | 7,553 | |||
Building & Improvements | 22,563 | |||
Total | 30,116 | 30,116 | ||
Accumulated Depreciation | (3,445) | (3,445) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 26,671 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (2,007) | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 30,116 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 3,445 | |||
Tustin Legacy [Member] | ||||
Initial Cost | ||||
Land | 13,829 | |||
Building & Improvements | 23,922 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (37) | |||
Total Cost | ||||
Land | 13,828 | |||
Building & Improvements | 23,886 | |||
Total | 37,714 | 37,714 | ||
Accumulated Depreciation | (3,793) | (3,793) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 33,921 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 37,714 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 3,793 | |||
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 | 2,478 | |||
Total Cost | ||||
Land | 17,263 | |||
Building & Improvements | 46,685 | |||
Total | 63,948 | 63,948 | ||
Accumulated Depreciation | (18,796) | (18,796) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 45,152 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 63,948 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 18,796 | |||
Twin Peaks [Member] | ||||
Initial Cost | ||||
Land | 5,200 | |||
Building & Improvements | 25,827 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,908 | |||
Total Cost | ||||
Land | 5,200 | |||
Building & Improvements | 27,735 | |||
Total | 32,935 | 32,935 | ||
Accumulated Depreciation | (15,771) | (15,771) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 17,164 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 32,935 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 15,771 | |||
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 | 6,640 | |||
Total Cost | ||||
Land | 5,561 | |||
Building & Improvements | 11,713 | |||
Total | 17,274 | 17,274 | ||
Accumulated Depreciation | (2,846) | (2,846) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 14,428 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 17,274 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 2,846 | |||
University Commons [Member] | ||||
Initial Cost | ||||
Land | 4,070 | |||
Building & Improvements | 30,785 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 493 | |||
Total Cost | ||||
Land | 4,070 | |||
Building & Improvements | 31,278 | |||
Total | 35,348 | 35,348 | ||
Accumulated Depreciation | (6,768) | (6,768) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 28,580 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 35,348 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 6,768 | |||
Valencia Crossroads [Member] | ||||
Initial Cost | ||||
Land | 17,921 | |||
Building & Improvements | 17,659 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,333 | |||
Total Cost | ||||
Land | 17,921 | |||
Building & Improvements | 18,992 | |||
Total | 36,913 | 36,913 | ||
Accumulated Depreciation | (16,670) | (16,670) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 20,243 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 36,913 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 16,670 | |||
Village at La Floresta [Member] | ||||
Initial Cost | ||||
Land | 13,140 | |||
Building & Improvements | 20,559 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (291) | |||
Total Cost | ||||
Land | 13,156 | |||
Building & Improvements | 20,252 | |||
Total | 33,408 | 33,408 | ||
Accumulated Depreciation | (5,596) | (5,596) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 27,812 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 33,408 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 5,596 | |||
Village at Lee Airpark [Member] | ||||
Initial Cost | ||||
Land | 11,099 | |||
Building & Improvements | 12,973 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 3,341 | |||
Total Cost | ||||
Land | 11,803 | |||
Building & Improvements | 15,610 | |||
Total | 27,413 | 27,413 | ||
Accumulated Depreciation | (11,289) | (11,289) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 16,124 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 27,413 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 11,289 | |||
Village Center [Member] | ||||
Initial Cost | ||||
Land | 3,885 | |||
Building & Improvements | 14,131 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 9,543 | |||
Total Cost | ||||
Land | 5,480 | |||
Building & Improvements | 22,079 | |||
Total | 27,559 | 27,559 | ||
Accumulated Depreciation | (11,152) | (11,152) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 16,407 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 27,559 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 11,152 | |||
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 | 735 | |||
Total Cost | ||||
Land | 49,037 | |||
Building & Improvements | 23,353 | |||
Total | 72,390 | 72,390 | ||
Accumulated Depreciation | (3,522) | (3,522) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 68,868 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (6,434) | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 72,390 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 3,522 | |||
Walker Center [Member] | ||||
Initial Cost | ||||
Land | 3,840 | |||
Building & Improvements | 7,232 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 4,238 | |||
Total Cost | ||||
Land | 3,878 | |||
Building & Improvements | 11,432 | |||
Total | 15,310 | 15,310 | ||
Accumulated Depreciation | (7,784) | (7,784) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 7,526 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 15,310 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 7,784 | |||
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 | (3,576) | (3,576) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 38,088 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 41,664 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 3,576 | |||
Waterstone Plaza [Member] | ||||
Initial Cost | ||||
Land | 5,498 | |||
Building & Improvements | 13,500 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 57 | |||
Total Cost | ||||
Land | 5,498 | |||
Building & Improvements | 13,557 | |||
Total | 19,055 | 19,055 | ||
Accumulated Depreciation | (2,021) | (2,021) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 17,034 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 19,055 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 2,021 | |||
Welleby Plaza [Member] | ||||
Initial Cost | ||||
Land | 1,496 | |||
Building & Improvements | 7,787 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,704 | |||
Total Cost | ||||
Land | 1,496 | |||
Building & Improvements | 9,491 | |||
Total | 10,987 | 10,987 | ||
Accumulated Depreciation | (8,155) | (8,155) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 2,832 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 10,987 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 8,155 | |||
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 | (798) | |||
Total Cost | ||||
Land | 2,041 | |||
Building & Improvements | 11,333 | |||
Total | 13,374 | 13,374 | ||
Accumulated Depreciation | (6,766) | (6,766) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 6,608 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 13,374 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 6,766 | |||
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 | (10,423) | |||
Total Cost | ||||
Land | 11,748 | |||
Building & Improvements | 9,357 | |||
Total | 21,105 | 21,105 | ||
Accumulated Depreciation | (1,250) | (1,250) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 19,855 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 21,105 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 1,250 | |||
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 | 668 | |||
Total Cost | ||||
Land | 1,857 | |||
Building & Improvements | 8,240 | |||
Total | 10,097 | 10,097 | ||
Accumulated Depreciation | (6,141) | (6,141) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 3,956 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 10,097 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 6,141 | |||
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 | (2,043) | (2,043) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 18,467 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 20,510 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 2,043 | |||
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 | 1,737 | |||
Total Cost | ||||
Land | 5,840 | |||
Building & Improvements | 7,496 | |||
Total | 13,336 | 13,336 | ||
Accumulated Depreciation | (4,571) | (4,571) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 8,765 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 13,336 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 4,571 | |||
Westbury Plaza [Member] | ||||
Initial Cost | ||||
Land | 116,129 | |||
Building & Improvements | 51,460 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 3,462 | |||
Total Cost | ||||
Land | 116,129 | |||
Building & Improvements | 54,922 | |||
Total | 171,051 | 171,051 | ||
Accumulated Depreciation | (8,659) | (8,659) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 162,392 | |||
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 | 171,051 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 8,659 | |||
Westchase [Member] | ||||
Initial Cost | ||||
Land | 5,302 | |||
Building & Improvements | 8,273 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,137 | |||
Total Cost | ||||
Land | 5,302 | |||
Building & Improvements | 9,410 | |||
Total | 14,712 | 14,712 | ||
Accumulated Depreciation | (4,148) | (4,148) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 10,564 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 14,712 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 4,148 | |||
Westchester Commons [Member] | ||||
Initial Cost | ||||
Land | 3,366 | |||
Building & Improvements | 11,751 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 10,818 | |||
Total Cost | ||||
Land | 4,894 | |||
Building & Improvements | 21,041 | |||
Total | 25,935 | 25,935 | ||
Accumulated Depreciation | (8,980) | (8,980) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 16,955 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 25,935 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 8,980 | |||
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 | 30,063 | |||
Total Cost | ||||
Land | 17,620 | |||
Building & Improvements | 46,681 | |||
Total | 64,301 | 64,301 | ||
Accumulated Depreciation | (28,323) | (28,323) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 35,978 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 64,301 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 28,323 | |||
Westport Plaza [Member] | ||||
Initial Cost | ||||
Land | 9,035 | |||
Building & Improvements | 7,455 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 23 | |||
Total Cost | ||||
Land | 9,035 | |||
Building & Improvements | 7,478 | |||
Total | 16,513 | 16,513 | ||
Accumulated Depreciation | (1,361) | (1,361) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 15,152 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (2,096) | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 16,513 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 1,361 | |||
Westport Row [Member] | ||||
Initial Cost | ||||
Land | 43,597 | |||
Building & Improvements | 16,428 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 5,329 | |||
Total Cost | ||||
Land | 45,260 | |||
Building & Improvements | 20,094 | |||
Total | 65,354 | 65,354 | ||
Accumulated Depreciation | (3,049) | (3,049) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 62,305 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 65,354 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 3,049 | |||
Westbard Square [Member] | ||||
Initial Cost | ||||
Land | 127,859 | |||
Building & Improvements | 21,514 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (245) | |||
Total Cost | ||||
Land | 127,859 | |||
Building & Improvements | 21,269 | |||
Total | 149,128 | 149,128 | ||
Accumulated Depreciation | (19,686) | (19,686) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 129,442 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 149,128 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 19,686 | |||
Westwood Village [Member] | ||||
Initial Cost | ||||
Land | 19,933 | |||
Building & Improvements | 25,301 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (1,759) | |||
Total Cost | ||||
Land | 18,979 | |||
Building & Improvements | 24,496 | |||
Total | 43,475 | 43,475 | ||
Accumulated Depreciation | (15,329) | (15,329) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 28,146 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 43,475 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 15,329 | |||
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 | 906 | |||
Total Cost | ||||
Land | 7,444 | |||
Building & Improvements | 4,618 | |||
Total | 12,062 | 12,062 | ||
Accumulated Depreciation | (971) | (971) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 11,091 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 12,062 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 971 | |||
Willow Festival [Member] | ||||
Initial Cost | ||||
Land | 1,954 | |||
Building & Improvements | 56,501 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 3,235 | |||
Total Cost | ||||
Land | 1,976 | |||
Building & Improvements | 59,714 | |||
Total | 61,690 | 61,690 | ||
Accumulated Depreciation | (18,314) | (18,314) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 43,376 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 61,690 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 18,314 | |||
Willow Oaks [Member] | ||||
Initial Cost | ||||
Land | 6,664 | |||
Building & Improvements | 7,908 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (371) | |||
Total Cost | ||||
Land | 6,294 | |||
Building & Improvements | 7,907 | |||
Total | 14,201 | 14,201 | ||
Accumulated Depreciation | (2,556) | (2,556) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 11,645 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 14,201 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 2,556 | |||
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 | 974 | |||
Total Cost | ||||
Land | 51,992 | |||
Building & Improvements | 78,975 | |||
Total | 130,967 | 130,967 | ||
Accumulated Depreciation | (9,919) | (9,919) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 121,048 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 130,967 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 9,919 | |||
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 | 1,191 | |||
Total Cost | ||||
Land | 1,421 | |||
Building & Improvements | 7,473 | |||
Total | 8,894 | 8,894 | ||
Accumulated Depreciation | (5,037) | (5,037) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 3,857 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 8,894 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 5,037 | |||
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 | 418 | |||
Total Cost | ||||
Land | 5,500 | |||
Building & Improvements | 7,613 | |||
Total | 13,113 | 13,113 | ||
Accumulated Depreciation | (4,333) | (4,333) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 8,780 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 13,113 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 4,333 | |||
Woodmen Plaza [Member] | ||||
Initial Cost | ||||
Land | 7,621 | |||
Building & Improvements | 11,018 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 948 | |||
Total Cost | ||||
Land | 7,621 | |||
Building & Improvements | 11,966 | |||
Total | 19,587 | 19,587 | ||
Accumulated Depreciation | (11,297) | (11,297) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 8,290 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 19,587 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 11,297 | |||
Woodside Central [Member] | ||||
Initial Cost | ||||
Land | 3,500 | |||
Building & Improvements | 9,288 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 612 | |||
Total Cost | ||||
Land | 3,489 | |||
Building & Improvements | 9,911 | |||
Total | 13,400 | 13,400 | ||
Accumulated Depreciation | (5,697) | (5,697) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 7,703 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 13,400 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 5,697 | |||
Corporate Assets [Member] | ||||
Initial Cost | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,325 | |||
Total Cost | ||||
Building & Improvements | 1,325 | |||
Total | 1,325 | 1,325 | ||
Accumulated Depreciation | (1,323) | (1,323) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 2 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 1,325 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 1,323 | |||
Land held for future development [Member] | ||||
Initial Cost | ||||
Land | 19,426 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (4,055) | |||
Total Cost | ||||
Land | 15,308 | |||
Building & Improvements | 63 | |||
Total | 15,371 | 15,371 | ||
Accumulated Depreciation | (10) | (10) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 15,361 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | 15,371 | |||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ||||
Ending balance | 10 | |||
Construction in progress [Member] | ||||
Initial Cost | ||||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 159,241 | |||
Total Cost | ||||
Building & Improvements | 159,241 | |||
Total | 159,241 | 159,241 | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | $ 159,241 | |||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ||||
Ending balance | $ 159,241 |