Document and Entity Information
Document and Entity Information - USD ($) $ in Billions | 12 Months Ended | ||
Dec. 31, 2022 | Feb. 16, 2023 | Jun. 30, 2022 | |
Document Information [Line Items] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Dec. 31, 2022 | ||
Document Fiscal Year Focus | 2022 | ||
Document Fiscal Period Focus | FY | ||
Entity Registrant Name | REGENCY CENTERS CORPORATION | ||
Entity Central Index Key | 0000910606 | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Interactive Data Current | Yes | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Public Float | $ 10.1 | ||
Entity Common Stock, Shares Outstanding | 171,307,927 | ||
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, prepared in connection with its upcoming 2023 Annual Meeting of Stockholders, are incorporated by reference in Part III of this Annual Report on Form 10-K to the extent described therein. 1 Per SEC guidance, this blank checkbox is included on this cover page but no disclosure with respect thereto shall be made until the adoption and effectiveness of related stock exchange listing standards. | ||
Auditor Firm ID | 185 | ||
Auditor Name | KPMG LLP | ||
Auditor Location | Jacksonville, Florida | ||
Partnership Interest [Member] | |||
Document Information [Line Items] | |||
Entity Registrant Name | REGENCY CENTERS, L.P. | ||
Entity Central Index Key | 0001066247 | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Shell Company | false | ||
Entity Small Business | false | ||
ICFR Auditor Attestation Flag | true | ||
Entity Emerging Growth Company | false | ||
Entity File Number | 0-24763 | ||
Entity Incorporation, State or Country Code | DE | ||
Entity Tax Identification Number | 59-3429602 | ||
Entity Address, Address Line One | One Independent Drive | ||
Entity Address, Address Line Two | Suite 114 | ||
Entity Address, City or Town | Jacksonville | ||
Entity Address, State or Province | FL | ||
Entity Address, Postal Zip Code | 32202 | ||
City Area Code | 904 | ||
Local Phone Number | 598-7000 | ||
Document Annual Report | true | ||
Document Transition Report | false | ||
Auditor Firm ID | 185 | ||
Auditor Name | KPMG LLP | ||
Auditor Location | Jacksonville, Florida |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Net real estate investments: | ||
Real estate assets, at cost (note 1) | $ 11,858,064 | $ 11,495,581 |
Less: accumulated depreciation | 2,415,860 | 2,174,963 |
Real estate assets, net | 9,442,204 | 9,320,618 |
Investments in real estate partnerships (note 4) | 350,377 | 372,591 |
Net real estate investments | 9,792,581 | 9,693,209 |
Properties held for sale | 25,574 | |
Cash, cash equivalents, and restricted cash, including $2,310 and $1,930 of restricted cash at December 31, 2022 and 2021, respectively (note 1) | 68,776 | 95,027 |
Tenant and other receivables (note 1) | 188,863 | 153,091 |
Deferred leasing costs, less accumulated amortization of $117,137 and $117,878 at December 31, 2022 and 2021, respectively | 68,945 | 65,741 |
Acquired lease intangible assets, less accumulated amortization of $338,053 and $312,186 at December 31, 2022 and 2021, respectively (note 6) | 197,745 | 212,707 |
Right of use assets, net | 275,513 | 280,783 |
Other assets (note 5) | 267,797 | 266,431 |
Total assets | 10,860,220 | 10,792,563 |
Liabilities: | ||
Notes payable (note 9) | 3,726,754 | 3,718,944 |
Accounts payable and other liabilities | 317,259 | 322,271 |
Acquired lease intangible liabilities, less accumulated amortization of $193,315 and $172,293 at December 31, 2022 and 2021, respectively (note 6) | 354,204 | 363,276 |
Lease liabilities | 213,722 | 215,788 |
Tenants’ security, escrow deposits and prepaid rent | 70,242 | 62,352 |
Total liabilities | 4,682,181 | 4,682,631 |
Commitments and contingencies (note 16) | ||
Stockholders' equity/Partners' capital: | ||
Common stock $0.01 par value per share, 220,000,000 shares authorized; 171,124,593 and 171,213,008 shares issued at December 31, 2022 and 2021, respectively | 1,711 | 1,712 |
Treasury stock at cost, 465,415 and 427,901 shares held at December 31, 2022 and 2021, respectively | (24,461) | (22,758) |
Additional paid-in capital | 7,877,152 | 7,883,458 |
Accumulated other comprehensive income (loss) | 7,560 | (10,227) |
Distributions in excess of net income | (1,764,977) | (1,814,814) |
Total stockholders’ equity | 6,096,985 | 6,037,371 |
Noncontrolling interests (note 12): | ||
Exchangeable operating partnership units, aggregate redemption value of $46,340 ,and $56,844 at December 31, 2022 and 2021, respectively | 34,489 | 35,447 |
Limited partners' interests in consolidated partnerships (note 1) | 46,565 | 37,114 |
Total noncontrolling interests | 81,054 | 72,561 |
Total equity | 6,178,039 | 6,109,932 |
Total liabilities and equity | 10,860,220 | 10,792,563 |
Partnership Interest [Member] | ||
Net real estate investments: | ||
Real estate assets, at cost (note 1) | 11,858,064 | 11,495,581 |
Less: accumulated depreciation | 2,415,860 | 2,174,963 |
Real estate assets, net | 9,442,204 | 9,320,618 |
Investments in real estate partnerships (note 4) | 350,377 | 372,591 |
Net real estate investments | 9,792,581 | 9,693,209 |
Properties held for sale | 25,574 | |
Cash, cash equivalents, and restricted cash, including $2,310 and $1,930 of restricted cash at December 31, 2022 and 2021, respectively (note 1) | 68,776 | 95,027 |
Tenant and other receivables (note 1) | 188,863 | 153,091 |
Deferred leasing costs, less accumulated amortization of $117,137 and $117,878 at December 31, 2022 and 2021, respectively | 68,945 | 65,741 |
Acquired lease intangible assets, less accumulated amortization of $338,053 and $312,186 at December 31, 2022 and 2021, respectively (note 6) | 197,745 | 212,707 |
Right of use assets, net | 275,513 | 280,783 |
Other assets (note 5) | 267,797 | 266,431 |
Total assets | 10,860,220 | 10,792,563 |
Liabilities: | ||
Notes payable (note 9) | 3,726,754 | 3,718,944 |
Accounts payable and other liabilities | 317,259 | 322,271 |
Acquired lease intangible liabilities, less accumulated amortization of $193,315 and $172,293 at December 31, 2022 and 2021, respectively (note 6) | 354,204 | 363,276 |
Lease liabilities | 213,722 | 215,788 |
Tenants’ security, escrow deposits and prepaid rent | 70,242 | 62,352 |
Total liabilities | 4,682,181 | 4,682,631 |
Commitments and contingencies (note 16) | ||
Stockholders' equity/Partners' capital: | ||
General partner; 171,124,593 and 171,213,008 units outstanding at December 31, 2022 and 2021, respectively | 6,089,425 | 6,047,598 |
Limited partners; 741,433 and 760,046 units outstanding at December 31, 2022 and 2021 | 34,489 | 35,447 |
Accumulated other comprehensive income (loss) | 7,560 | (10,227) |
Total partners’ capital | 6,131,474 | 6,072,818 |
Noncontrolling interests (note 12): | ||
Limited partners' interests in consolidated partnerships (note 1) | 46,565 | 37,114 |
Total capital | 6,178,039 | 6,109,932 |
Total liabilities and equity | $ 10,860,220 | $ 10,792,563 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Restricted cash and cash equivalent | $ 2,310 | $ 1,930 |
Deferred costs accumulated amortization | 117,137 | 117,878 |
Accumulated amortization of acquired lease intangible assets | 338,053 | 312,186 |
Accumulated accretion of acquired lease intangible liabilities | $ 193,315 | $ 172,293 |
Common stock, par value per share | $ 0.01 | $ 0.01 |
Common stock, shares authorized | 220,000,000 | 220,000,000 |
Common stock, shares issued | 171,124,593 | 171,213,008 |
Treasury stock, shares held at cost | 465,415 | 427,901 |
Exchangeable operating partnership units aggregate redemption value | $ 46,340 | $ 56,844 |
General partner units, outstanding | 171,125,000 | 171,213,000 |
Limited partner units, outstanding | 741,000 | 760,000 |
Partnership Interest [Member] | ||
Restricted cash and cash equivalent | $ 2,310 | $ 1,930 |
Deferred costs accumulated amortization | 117,137 | 117,878 |
Accumulated amortization of acquired lease intangible assets | 338,053 | 312,186 |
Accumulated accretion of acquired lease intangible liabilities | $ 193,315 | $ 172,293 |
General partner units, outstanding | 171,124,593 | 171,213,008 |
Limited partner units, outstanding | 741,433 | 760,046 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Revenues: | |||
Lease income | $ 1,187,452 | $ 1,113,368 | $ 980,166 |
Other property income | 10,719 | 12,456 | 9,508 |
Management, transaction, and other fees | 25,851 | 40,337 | 26,501 |
Total revenues | 1,224,022 | 1,166,161 | 1,016,175 |
Operating expenses: | |||
Depreciation and amortization | 319,697 | 303,331 | 345,900 |
Property operating expense | 196,148 | 184,553 | 170,073 |
Real estate taxes | 149,795 | 142,129 | 143,004 |
General and administrative | 79,903 | 78,218 | 75,001 |
Other operating expenses | 6,166 | 5,751 | 12,642 |
Total operating expenses | 751,709 | 713,982 | 746,620 |
Other expense (income): | |||
Interest expense, net | 146,186 | 145,170 | 156,678 |
Goodwill impairment | 132,128 | ||
Provision for impairment of real estate | 84,389 | 18,536 | |
Gain on sale of real estate, net of tax | (109,005) | (91,119) | (67,465) |
Early extinguishment of debt | 21,837 | ||
Net investment loss (income) | 6,921 | (5,463) | (5,307) |
Total other expense (income) | 44,102 | 132,977 | 256,407 |
Income from operations before equity in income of investments in real estate partnerships | 428,211 | 319,202 | 13,148 |
Equity in income of investments in real estate partnerships (note 4) | 59,824 | 47,086 | 34,169 |
Net income | 488,035 | 366,288 | 47,317 |
Noncontrolling interests: | |||
Exchangeable operating partnership units | (2,105) | (1,615) | (203) |
Limited partners’ interests in consolidated partnerships | (3,065) | (3,262) | (2,225) |
Income attributable to noncontrolling interests | (5,170) | (4,877) | (2,428) |
Net income attributable to common stockholders | $ 482,865 | $ 361,411 | $ 44,889 |
Income per common share - basic (note 15) | $ 2.82 | $ 2.12 | $ 0.27 |
Income per common share - diluted (note 15) | $ 2.81 | $ 2.12 | $ 0.26 |
Partnership Interest [Member] | |||
Revenues: | |||
Lease income | $ 1,187,452 | $ 1,113,368 | $ 980,166 |
Other property income | 10,719 | 12,456 | 9,508 |
Management, transaction, and other fees | 25,851 | 40,337 | 26,501 |
Total revenues | 1,224,022 | 1,166,161 | 1,016,175 |
Operating expenses: | |||
Depreciation and amortization | 319,697 | 303,331 | 345,900 |
Property operating expense | 196,148 | 184,553 | 170,073 |
Real estate taxes | 149,795 | 142,129 | 143,004 |
General and administrative | 79,903 | 78,218 | 75,001 |
Other operating expenses | 6,166 | 5,751 | 12,642 |
Total operating expenses | 751,709 | 713,982 | 746,620 |
Other expense (income): | |||
Interest expense, net | 146,186 | 145,170 | 156,678 |
Goodwill impairment | 132,128 | ||
Provision for impairment of real estate | 84,389 | 18,536 | |
Gain on sale of real estate, net of tax | (109,005) | (91,119) | (67,465) |
Early extinguishment of debt | 21,837 | ||
Net investment loss (income) | 6,921 | (5,463) | (5,307) |
Total other expense (income) | 44,102 | 132,977 | 256,407 |
Income from operations before equity in income of investments in real estate partnerships | 428,211 | 319,202 | 13,148 |
Equity in income of investments in real estate partnerships (note 4) | 59,824 | 47,086 | 34,169 |
Net income | 488,035 | 366,288 | 47,317 |
Noncontrolling interests: | |||
Limited partners’ interests in consolidated partnerships | (3,065) | (3,262) | (2,225) |
Income attributable to noncontrolling interests | (3,065) | (3,262) | (2,225) |
Net income attributable to common unit holders | $ 484,970 | $ 363,026 | $ 45,092 |
Income per common unit - basic (note 15): | $ 2.82 | $ 2.12 | $ 0.27 |
Income per common unit - diluted (note 15): | $ 2.81 | $ 2.12 | $ 0.26 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Net income | $ 488,035 | $ 366,288 | $ 47,317 |
Other comprehensive income (loss): | |||
Effective portion of change in fair value of derivative instruments | 20,061 | 5,391 | (19,187) |
Reclassification adjustment of derivative instruments included in net income | 833 | 4,141 | 11,262 |
Unrealized (loss) gain on available-for-sale securities | (1,309) | (405) | 320 |
Other comprehensive income (loss) | 19,585 | 9,127 | (7,605) |
Comprehensive income | 507,620 | 375,415 | 39,712 |
Less: comprehensive income attributable to noncontrolling interests: | |||
Net income attributable to noncontrolling interests | 5,170 | 4,877 | 2,428 |
Other comprehensive income (loss) attributable to noncontrolling interests | 1,798 | 729 | (977) |
Comprehensive income attributable to noncontrolling interests | 6,968 | 5,606 | 1,451 |
Comprehensive income attributable to the Company | 500,652 | 369,809 | 38,261 |
Partnership Interest [Member] | |||
Net income | 488,035 | 366,288 | 47,317 |
Other comprehensive income (loss): | |||
Effective portion of change in fair value of derivative instruments | 20,061 | 5,391 | (19,187) |
Reclassification adjustment of derivative instruments included in net income | 833 | 4,141 | 11,262 |
Unrealized (loss) gain on available-for-sale securities | (1,309) | (405) | 320 |
Other comprehensive income (loss) | 19,585 | 9,127 | (7,605) |
Comprehensive income | 507,620 | 375,415 | 39,712 |
Less: comprehensive income attributable to noncontrolling interests: | |||
Net income attributable to noncontrolling interests | 3,065 | 3,262 | 2,225 |
Other comprehensive income (loss) attributable to noncontrolling interests | 1,713 | 689 | (948) |
Comprehensive income attributable to noncontrolling interests | 4,778 | 3,951 | 1,277 |
Comprehensive income attributable to the Company | $ 502,842 | $ 371,464 | $ 38,435 |
Consolidated Statement of Equit
Consolidated Statement of Equity - USD ($) $ in Thousands | 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, 2019 | $ 6,289,961 | $ 1,676 | $ (23,199) | $ 7,654,930 | $ (11,997) | $ (1,408,062) | $ 6,213,348 | $ 36,100 | $ 40,513 | $ 76,613 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||
Net income | 47,317 | 44,889 | 44,889 | 203 | 2,225 | 2,428 | ||||
Other comprehensive income (loss): | ||||||||||
Other comprehensive Income (loss) before reclassifications | (18,867) | (17,589) | (17,589) | (79) | (1,199) | (1,278) | ||||
Amounts reclassified from accumulated other comprehensive income | 11,262 | 10,961 | 10,961 | 50 | 251 | 301 | ||||
Deferred compensation plan, net | (1,237) | 1,237 | ||||||||
Restricted stock issued, net of amortization | 14,248 | 2 | 14,246 | 14,248 | ||||||
Common stock repurchased for taxes withheld for stock based compensation, net | (5,059) | (5,059) | (5,059) | |||||||
Common stock issued under dividend reinvestment plan | 1,139 | 1,139 | 1,139 | |||||||
Common stock issued, net of issuance costs | 125,608 | 19 | 125,589 | 125,608 | ||||||
Contributions from partners | 606 | 606 | 606 | |||||||
Issuance of exchangeable operating partnership units | 1,275 | 1,275 | 1,275 | |||||||
Distributions to partners | (4,888) | (4,888) | (4,888) | |||||||
Cash dividends declared: | ||||||||||
Common stock/unit | (404,455) | (402,633) | (402,633) | (1,822) | (1,822) | |||||
Ending Balance at Dec. 31, 2020 | 6,058,147 | 1,697 | (24,436) | 7,792,082 | (18,625) | (1,765,806) | 5,984,912 | 35,727 | 37,508 | 73,235 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||
Net income | 366,288 | 361,411 | 361,411 | 1,615 | 3,262 | 4,877 | ||||
Other comprehensive income (loss): | ||||||||||
Other comprehensive Income (loss) before reclassifications | 4,986 | 4,603 | 4,603 | 23 | 360 | 383 | ||||
Amounts reclassified from accumulated other comprehensive income | 4,141 | 3,795 | 3,795 | 17 | 329 | 346 | ||||
Deferred compensation plan, net | 75 | 1,678 | (1,603) | 75 | ||||||
Restricted stock issued, net of amortization | 12,652 | 2 | 12,650 | 12,652 | ||||||
Common stock repurchased for taxes withheld for stock based compensation, net | (3,553) | (3,553) | (3,553) | |||||||
Common stock issued under dividend reinvestment plan | 1,286 | 1,286 | 1,286 | |||||||
Common stock issued for partnership units exchanged | 99 | 99 | (99) | (99) | ||||||
Common stock issued, net of issuance costs | 82,510 | 13 | 82,497 | 82,510 | ||||||
Distributions to partners | (4,345) | (4,345) | (4,345) | |||||||
Cash dividends declared: | ||||||||||
Common stock/unit | (412,255) | (410,419) | (410,419) | (1,836) | (1,836) | |||||
Ending Balance at Dec. 31, 2021 | 6,109,932 | 1,712 | (22,758) | 7,883,458 | (10,227) | (1,814,814) | 6,037,371 | 35,447 | 37,114 | 72,561 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||
Net income | 488,035 | 482,865 | 482,865 | 2,105 | 3,065 | 5,170 | ||||
Other comprehensive income (loss): | ||||||||||
Other comprehensive Income (loss) before reclassifications | 18,752 | 17,008 | 17,008 | 80 | 1,664 | 1,744 | ||||
Amounts reclassified from accumulated other comprehensive income | 833 | 779 | 779 | 5 | 49 | 54 | ||||
Deferred compensation plan, net | (1) | (1,703) | 1,702 | (1) | ||||||
Restricted stock issued, net of amortization | 16,667 | 2 | 16,665 | 16,667 | ||||||
Common stock repurchased for taxes withheld for stock based compensation, net | (5,858) | (5,858) | (5,858) | |||||||
Common stock issued under dividend reinvestment plan | 524 | 524 | 524 | |||||||
Common stock issued for partnership units exchanged | 1,275 | 1,275 | (1,275) | (1,275) | ||||||
Common stock issued, net of issuance costs | 61,284 | 10 | 61,274 | 61,284 | ||||||
Reallocation of noncontrolling interest, net of transaction costs | (216) | (6,482) | (6,482) | 6,266 | 6,266 | |||||
Common stock repurchased and retired | (75,419) | (13) | (75,406) | (75,419) | ||||||
Contributions from partners | 13,223 | 13,223 | 13,223 | |||||||
Distributions to partners | (14,816) | (14,816) | (14,816) | |||||||
Cash dividends declared: | ||||||||||
Common stock/unit | (434,901) | (433,028) | (433,028) | (1,873) | (1,873) | |||||
Ending Balance at Dec. 31, 2022 | $ 6,178,039 | $ 1,711 | $ (24,461) | $ 7,877,152 | $ 7,560 | $ (1,764,977) | $ 6,096,985 | $ 34,489 | $ 46,565 | $ 81,054 |
Consolidated Statement of Equ_2
Consolidated Statement of Equity (Parenthetical) - $ / shares | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Statement of Stockholders' Equity [Abstract] | |||
Common stock/unit per share | $ 2.525 | $ 2.410 | $ 2.380 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Cash flows from operating activities: | |||
Net income | $ 488,035 | $ 366,288 | $ 47,317 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation and amortization | 319,697 | 303,331 | 345,900 |
Amortization of deferred loan costs and debt premiums | 5,799 | 6,003 | 9,023 |
(Accretion) and amortization of above and below market lease intangibles, net | (20,995) | (22,936) | (40,540) |
Stock-based compensation, net of capitalization | 16,521 | 12,515 | 13,581 |
Equity in income of investments in real estate partnerships | (59,824) | (47,086) | (34,169) |
Gain on sale of real estate, net of tax | (109,005) | (91,119) | (67,465) |
Provision for impairment of real estate | 84,389 | 18,536 | |
Goodwill impairment | 132,128 | ||
Early extinguishment of debt | 21,837 | ||
Distribution of earnings from investments in real estate partnerships | 61,416 | 71,934 | 47,703 |
Settlement of derivative instrument | (2,472) | ||
Deferred compensation (revenue) expense | (6,128) | 4,572 | 4,668 |
Realized and unrealized loss (gain) on investments | 7,040 | (5,348) | (5,519) |
Changes in assets and liabilities: | |||
Tenant and other receivables | (35,274) | (24,869) | 16,944 |
Deferred leasing costs | (10,801) | (6,966) | (6,973) |
Other assets | 1,292 | (1,226) | (1,200) |
Accounts payable and other liabilities | (9,088) | 6,677 | 997 |
Tenants’ security, escrow deposits and prepaid rent | 7,130 | 5,701 | (3,650) |
Net cash provided by operating activities | 655,815 | 659,388 | 499,118 |
Cash flows from investing activities: | |||
Acquisition of operating real estate, net of cash acquired of $3,061 and $2,991 in 2022 and 2021, respectively | (169,639) | (392,051) | (16,767) |
Real estate development and capital improvements | (195,418) | (177,631) | (180,804) |
Proceeds from sale of real estate | 143,133 | 206,193 | 189,444 |
Proceeds from property insurance casualty claims | 7,957 | ||
Collection (issuance) of notes receivable, net | 1,823 | (20) | (1,340) |
Investments in real estate partnerships | (36,266) | (23,476) | (51,440) |
Return of capital from investments in real estate partnerships | 48,473 | 99,945 | 32,125 |
Dividends on investment securities | 1,113 | 813 | 353 |
Acquisition of investment securities | (21,112) | (23,971) | (25,155) |
Proceeds from sale of investment securities | 21,785 | 23,846 | 19,986 |
Net cash used in investing activities | (206,108) | (286,352) | (25,641) |
Cash flows from financing activities: | |||
Net proceeds from common stock issuance | 61,284 | 82,510 | 125,608 |
Repurchase of common shares in conjunction with equity award plans | (6,447) | (4,083) | (5,512) |
Proceeds from sale of treasury stock/units | 64 | 96 | 269 |
Common shares repurchased through share repurchase program | (75,419) | ||
Distributions to limited partners in consolidated partnerships, net | (7,245) | (4,345) | (2,770) |
Distributions to exchangeable operating partnership unit holders | (1,867) | (1,815) | (1,366) |
Dividends paid to common stockholders | (428,276) | (403,085) | (300,537) |
Repayment of fixed rate unsecured notes | (300,000) | ||
Proceeds from issuance of fixed rate unsecured notes, net | 598,830 | ||
Proceeds from unsecured credit facilities | 95,000 | 610,000 | |
Repayments of proceeds from unsecured credit facilities, net | (95,000) | (265,000) | (830,000) |
Repayment of notes payable | (6,745) | (42,014) | (67,189) |
Scheduled principal payments | (11,219) | (11,255) | (11,104) |
Payment of loan costs | (88) | (7,468) | (5,063) |
Early redemption costs | (21,755) | ||
Net cash used in financing activities | (475,958) | (656,459) | (210,589) |
Net (decrease) increase in cash, cash equivalents, and restricted cash | (26,251) | (283,423) | 262,888 |
Cash, cash equivalents, and restricted cash at beginning of the year | 95,027 | 378,450 | 115,562 |
Cash, cash equivalents, and restricted cash at end of the year | 68,776 | 95,027 | 378,450 |
Supplemental disclosure of cash flow information: | |||
Cash paid for interest (net of capitalized interest of $4,166, $4,202, and $4,355 in 2022, 2021, and 2020, respectively) | 141,359 | 140,084 | 151,338 |
Cash paid for income taxes, net of refunds | 570 | 378 | 1,870 |
Supplemental disclosure of non-cash transactions: | |||
Common stock and exchangeable operating partnership dividends declared but not paid | 111,709 | 107,480 | 101,412 |
Exchangeable operating partnership units issued for acquisition of real estate | 1,275 | ||
Previously held equity investments in real estate assets acquired | 17,179 | (4,609) | 5,986 |
Mortgage loans assumed by Company with the acquisition of real estate | 22,779 | 111,104 | 16,359 |
Mortgage loan assumed by purchaser with the sale of real estate | 8,250 | ||
Common stock issued by Parent Company for partnership units exchanged | 1,275 | 99 | |
Real estate received in lieu of promote interest | 13,589 | ||
Change in fair value of securities | 1,658 | 513 | 315 |
Change in accrued capital expenditures | 4,888 | 10,188 | 12,166 |
Common stock issued under dividend reinvestment plan | 524 | 1,286 | 1,139 |
Stock-based compensation capitalized | 735 | 666 | 1,119 |
Contributions from (distributions to) limited partners in consolidated partnerships, net | 5,436 | (1,512) | |
Reallocation of equity upon acquisition of a limited partner's interest in a consolidated partnership | 6,266 | ||
Common stock issued for dividend reinvestment in trust | 1,126 | 1,084 | 819 |
Contribution of stock awards into trust | 2,250 | 1,416 | 1,524 |
Distribution of stock held in trust | 786 | 3,647 | 1,052 |
Partnership Interest [Member] | |||
Cash flows from operating activities: | |||
Net income | 488,035 | 366,288 | 47,317 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation and amortization | 319,697 | 303,331 | 345,900 |
Amortization of deferred loan costs and debt premiums | 5,799 | 6,003 | 9,023 |
(Accretion) and amortization of above and below market lease intangibles, net | (20,995) | (22,936) | (40,540) |
Stock-based compensation, net of capitalization | 16,521 | 12,515 | 13,581 |
Equity in income of investments in real estate partnerships | (59,824) | (47,086) | (34,169) |
Gain on sale of real estate, net of tax | (109,005) | (91,119) | (67,465) |
Provision for impairment of real estate | 84,389 | 18,536 | |
Goodwill impairment | 132,128 | ||
Early extinguishment of debt | 21,837 | ||
Distribution of earnings from investments in real estate partnerships | 61,416 | 71,934 | 47,703 |
Settlement of derivative instrument | (2,472) | ||
Deferred compensation (revenue) expense | (6,128) | 4,572 | 4,668 |
Realized and unrealized loss (gain) on investments | 7,040 | (5,348) | (5,519) |
Changes in assets and liabilities: | |||
Tenant and other receivables | (35,274) | (24,869) | 16,944 |
Deferred leasing costs | (10,801) | (6,966) | (6,973) |
Other assets | 1,292 | (1,226) | (1,200) |
Accounts payable and other liabilities | (9,088) | 6,677 | 997 |
Tenants’ security, escrow deposits and prepaid rent | 7,130 | 5,701 | (3,650) |
Net cash provided by operating activities | 655,815 | 659,388 | 499,118 |
Cash flows from investing activities: | |||
Acquisition of operating real estate, net of cash acquired of $3,061 and $2,991 in 2022 and 2021, respectively | (169,639) | (392,051) | (16,767) |
Real estate development and capital improvements | (195,418) | (177,631) | (180,804) |
Proceeds from sale of real estate | 143,133 | 206,193 | 189,444 |
Proceeds from property insurance casualty claims | 7,957 | ||
Collection (issuance) of notes receivable, net | 1,823 | (20) | (1,340) |
Investments in real estate partnerships | (36,266) | (23,476) | (51,440) |
Return of capital from investments in real estate partnerships | 48,473 | 99,945 | 32,125 |
Dividends on investment securities | 1,113 | 813 | 353 |
Acquisition of investment securities | (21,112) | (23,971) | (25,155) |
Proceeds from sale of investment securities | 21,785 | 23,846 | 19,986 |
Net cash used in investing activities | (206,108) | (286,352) | (25,641) |
Cash flows from financing activities: | |||
Net proceeds from common stock issuance | 61,284 | 82,510 | 125,608 |
Repurchase of common shares in conjunction with equity award plans | (6,447) | (4,083) | (5,512) |
Proceeds from sale of treasury stock/units | 64 | 96 | 269 |
Common shares repurchased through share repurchase program | (75,419) | ||
Distributions to limited partners in consolidated partnerships, net | (7,245) | (4,345) | (2,770) |
Dividends paid to common stockholders | (430,143) | (404,900) | (301,903) |
Repayment of fixed rate unsecured notes | (300,000) | ||
Proceeds from issuance of fixed rate unsecured notes, net | 598,830 | ||
Proceeds from unsecured credit facilities | 95,000 | 610,000 | |
Repayments of proceeds from unsecured credit facilities, net | (95,000) | (265,000) | (830,000) |
Repayment of notes payable | (6,745) | (42,014) | (67,189) |
Scheduled principal payments | (11,219) | (11,255) | (11,104) |
Payment of loan costs | (88) | (7,468) | (5,063) |
Early redemption costs | (21,755) | ||
Net cash used in financing activities | (475,958) | (656,459) | (210,589) |
Net (decrease) increase in cash, cash equivalents, and restricted cash | (26,251) | (283,423) | 262,888 |
Cash, cash equivalents, and restricted cash at beginning of the year | 95,027 | 378,450 | 115,562 |
Cash, cash equivalents, and restricted cash at end of the year | 68,776 | 95,027 | 378,450 |
Supplemental disclosure of cash flow information: | |||
Cash paid for interest (net of capitalized interest of $4,166, $4,202, and $4,355 in 2022, 2021, and 2020, respectively) | 141,359 | 140,084 | 151,338 |
Cash paid for income taxes, net of refunds | 570 | 378 | 1,870 |
Supplemental disclosure of non-cash transactions: | |||
Common stock and exchangeable operating partnership dividends declared but not paid | 111,709 | 107,480 | 101,412 |
Exchangeable operating partnership units issued for acquisition of real estate | 1,275 | ||
Previously held equity investments in real estate assets acquired | 17,179 | (4,609) | 5,986 |
Mortgage loans assumed by Company with the acquisition of real estate | 22,779 | 111,104 | 16,359 |
Mortgage loan assumed by purchaser with the sale of real estate | 8,250 | ||
Common stock issued by Parent Company for partnership units exchanged | 1,275 | 99 | 1,275 |
Real estate received in lieu of promote interest | 13,589 | ||
Change in fair value of securities | 1,658 | 513 | 315 |
Change in accrued capital expenditures | 4,888 | 10,188 | 12,166 |
Common stock issued under dividend reinvestment plan | 524 | 1,286 | 1,139 |
Stock-based compensation capitalized | 735 | 666 | 1,119 |
Contributions from (distributions to) limited partners in consolidated partnerships, net | 5,436 | (1,512) | |
Reallocation of equity upon acquisition of a limited partner's interest in a consolidated partnership | 6,266 | ||
Common stock issued for dividend reinvestment in trust | 1,126 | 1,084 | 819 |
Contribution of stock awards into trust | 2,250 | 1,416 | 1,524 |
Distribution of stock held in trust | $ 786 | $ 3,647 | $ 1,052 |
Consolidated Statements of Ca_2
Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Cash Acquired from Acquisition | $ 3,061 | $ 2,991 | |
Capitalized interest | 4,166 | 4,202 | $ 4,355 |
Partnership Interest [Member] | |||
Cash Acquired from Acquisition | 3,061 | 2,991 | |
Capitalized interest | $ 4,166 | $ 4,202 | $ 4,355 |
Consolidated Statement of Capit
Consolidated Statement of Capital - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Net income | $ 488,035 | $ 366,288 | $ 47,317 |
Other comprehensive income | |||
Amounts reclassified from accumulated other comprehensive income | 833 | 4,141 | 11,262 |
Deferred compensation plan, net | (1) | 75 | |
Contributions from partners | 13,223 | 606 | |
Issuance of exchangeable operating partnership units | 1,275 | ||
Distributions to partners | (14,816) | (4,345) | (4,888) |
Restricted units issued as a result of restricted stock issued by Parent Company, net of amortization | 16,667 | 12,652 | 14,248 |
Total Partners' Capital [Member] | |||
Net income | 482,865 | 361,411 | 44,889 |
Other comprehensive income | |||
Amounts reclassified from accumulated other comprehensive income | 779 | 3,795 | 10,961 |
Deferred compensation plan, net | (1) | 75 | |
Restricted units issued as a result of restricted stock issued by Parent Company, net of amortization | 16,667 | 12,652 | 14,248 |
Partnership Interest [Member] | |||
Beginning Balance | 6,109,932 | 6,058,147 | 6,289,961 |
Net income | 488,035 | 366,288 | 47,317 |
Other comprehensive income | |||
Other comprehensive income before reclassifications | 18,752 | 4,986 | (18,867) |
Amounts reclassified from accumulated other comprehensive income | 833 | 4,141 | 11,262 |
Deferred compensation plan, net | (1) | 75 | |
Contributions from partners | 13,223 | 606 | |
Issuance of exchangeable operating partnership units | 1,275 | ||
Distributions to partners | (449,717) | (416,600) | (409,343) |
Reallocation of limited partners' interest, net of transaction costs | (216) | ||
Restricted units issued as a result of restricted stock issued by Parent Company, net of amortization | 16,667 | 12,652 | 14,248 |
Common units repurchased and retired as a result of common stock repurchased and retired by Parent Company | (75,419) | 82,510 | |
Common units issued as a result of common stock issued by Parent Company, net of issuance costs | 61,284 | 125,608 | |
Common units repurchased as a result of common stock repurchased by Parent Company, net of issuances | (5,334) | (3,920) | |
Common units redeemed as a result of common stock redeemed by Parent Company, net of issuances | (2,267) | ||
Ending Balance | 6,178,039 | 6,109,932 | 6,058,147 |
Partnership Interest [Member] | Total Partners' Capital [Member] | |||
Beginning Balance | 6,072,818 | 6,020,639 | 6,249,448 |
Net income | 484,970 | 363,026 | 45,092 |
Other comprehensive income | |||
Other comprehensive income before reclassifications | 17,088 | 4,626 | (17,668) |
Amounts reclassified from accumulated other comprehensive income | 784 | 3,812 | 11,011 |
Deferred compensation plan, net | (1) | 75 | |
Issuance of exchangeable operating partnership units | 1,275 | ||
Distributions to partners | (434,901) | (412,255) | (404,455) |
Reallocation of limited partners' interest, net of transaction costs | (6,482) | ||
Restricted units issued as a result of restricted stock issued by Parent Company, net of amortization | 16,667 | 12,652 | 14,248 |
Common units repurchased and retired as a result of common stock repurchased and retired by Parent Company | (75,419) | 82,510 | |
Common units issued as a result of common stock issued by Parent Company, net of issuance costs | 61,284 | 125,608 | |
Common units repurchased as a result of common stock repurchased by Parent Company, net of issuances | (5,334) | (3,920) | |
Common units redeemed as a result of common stock redeemed by Parent Company, net of issuances | (2,267) | ||
Ending Balance | 6,131,474 | 6,072,818 | 6,020,639 |
Partnership Interest [Member] | Accumulated Other Comprehensive Loss [Member] | |||
Beginning Balance | (10,227) | (18,625) | (11,997) |
Other comprehensive income | |||
Other comprehensive income before reclassifications | 17,008 | 4,603 | (17,589) |
Amounts reclassified from accumulated other comprehensive income | 779 | 3,795 | 10,961 |
Ending Balance | 7,560 | (10,227) | (18,625) |
Partnership Interest [Member] | Noncontrolling Interests in Limited Partners' Interest in Consolidated Partnerships [Member] | |||
Beginning Balance | 37,114 | 37,508 | 40,513 |
Net income | 3,065 | 3,262 | 2,225 |
Other comprehensive income | |||
Other comprehensive income before reclassifications | 1,664 | 360 | (1,199) |
Amounts reclassified from accumulated other comprehensive income | 49 | 329 | 251 |
Contributions from partners | 13,223 | 606 | |
Distributions to partners | (14,816) | (4,345) | (4,888) |
Reallocation of limited partners' interest, net of transaction costs | 6,266 | ||
Ending Balance | 46,565 | 37,114 | 37,508 |
Partnership Interest [Member] | General Partner [Member] | |||
Beginning Balance | 6,047,598 | 6,003,537 | 6,225,345 |
Net income | 482,865 | 361,411 | 44,889 |
Other comprehensive income | |||
Deferred compensation plan, net | (1) | 75 | |
Distributions to partners | (433,028) | (410,419) | (402,633) |
Reallocation of limited partners' interest, net of transaction costs | (6,482) | ||
Restricted units issued as a result of restricted stock issued by Parent Company, net of amortization | 16,667 | 12,652 | 14,248 |
Common units repurchased and retired as a result of common stock repurchased and retired by Parent Company | (75,419) | 82,510 | |
Common units issued as a result of common stock issued by Parent Company, net of issuance costs | 61,284 | 125,608 | |
Common units repurchased as a result of common stock repurchased by Parent Company, net of issuances | (5,334) | (3,920) | |
Common units redeemed as a result of common stock redeemed by Parent Company, net of issuances | (2,267) | ||
Common unit exchanged for common stock of Parent Company | 1,275 | 99 | |
Ending Balance | 6,089,425 | 6,047,598 | 6,003,537 |
Partnership Interest [Member] | Limited Partner [Member] | |||
Beginning Balance | 35,447 | 35,727 | 36,100 |
Net income | 2,105 | 1,615 | 203 |
Other comprehensive income | |||
Other comprehensive income before reclassifications | 80 | 23 | (79) |
Amounts reclassified from accumulated other comprehensive income | 5 | 17 | 50 |
Issuance of exchangeable operating partnership units | 1,275 | ||
Distributions to partners | (1,873) | (1,836) | (1,822) |
Common unit exchanged for common stock of Parent Company | (1,275) | (99) | |
Ending Balance | $ 34,489 | $ 35,447 | $ 35,727 |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2022 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | 1. Su mmary of Significant Accounting Policies (a) Organization and Principles of Consolidation General Regency Centers Corporation (the "Parent Company") began its operations as a REIT in 1993 and is the general partner of Regency Centers, L.P. (the "Operating Partnership"). The Parent Company primarily engages in the ownership, management, leasing, acquisition, development and redevelopment of shopping centers through the Operating Partnership, and has no other assets other than through its investment in the Operating Partnership, and its only liabilities are $ 200 million of unsecured private placement notes, which are co-issued and guaranteed by the Operating Partnership. The Parent Company guarantees all of the unsecured debt of the Operating Partnership. As of December 31, 2022, the Parent Company, the Operating Partnership, and their controlled subsidiaries on a consolidated basis (the "Company" or "Regency") owned 308 properties and held partial interests in an additional 96 properties through unconsolidated Investments in real estate partnerships (also referred to as "joint ventures" or "investment partnerships"). Estimates, Risks, and Uncert ainties The preparation of the Consolidated Financial Statements in conformity with U.S. GAAP requires the Company's management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of commitments and contingent assets and liabilities, at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The most significant estimates in the Company's financial statements relate to the net carrying values of its real estate investments, collectibility of lease income, and acquired lease intangible assets and liabilities. It is possible that the estimates and assumptions that have been utilized in the preparation of the Consolidated Financial Statements could change significantly if economic conditions were to weaken. 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 and properties where it owns less than 100%, but has control over the activities most important to the overall success of the partnership. Control is determined using an evaluation based on accounting standards related to the consolidation of Variable Interest Entities ("VIEs") and voting interest entities. For joint ventures that are determined to be a VIE, the Company consolidates the entity where it is deemed to be the primary beneficiary. Determination of the primary beneficiary is based on whether an entity has (1) the power to direct the activities of the VIE that most significantly impact the entity's economic performance, and (2) the obligation to absorb losses of the entity that could potentially be significant to the VIE or the right to receive benefits from the entity that could potentially be significant to the VIE. Ownership of the Parent Company The Parent Company has a single class of common stock outstanding. Ownership of the Operating Partnership The Operating Partnership's capital includes general and limited common Partnership Units. As of December 31, 2022, the Parent Company owned approximately 99.6 % , or 171,124,593 , of the 171,866,026 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, as it relates to exchangeable operating partnership units outstanding and concluded that it has the right to satisfy the redemption requirements of the units by delivering unregistered common stock. Accordingly, the Parent Company classifies EOP units as permanent equity in the accompanying Consolidated Balance Sheets and Consolidated Statements of Equity and Comprehensive Income. The Parent Company serves as general partner of the Operating Partnership. The EOP unit holders have limited rights over the Operating Partnership such that they do not have the power to direct the activities of the Operating Partnership. As such, the Operating Partnership is considered a VIE, and the Parent Company, which consolidates it, is the primary beneficiary. The Parent Company's only investment is the Operating Partnership. Net income and distributions of the Operating Partnership are allocable to the general and limited common Partnership Units in accordance with their ownership percentages. Real Estate Partnerships Regency has a partial ownership interest in 107 properties through partnerships, of which 11 are consolidated. Regency's partners include institutional investors and other real estate developers and/or operators (the "Partners" or "Limited Partners"). 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. Regency has a variable interest in these partnerships 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. • Those partnerships for which the Partners are involved in the day to day decisions and do not have any other aspects that would cause them to be considered VIEs, are evaluated for consolidation using the voting interest model. o Those partnerships in which Regency does not have a controlling financial interest are accounted for using the equity method and Regency's ownership interest is recognized through single-line presentation as Investments in real estate partnerships, in the Consolidated Balance Sheet, and Equity in income of investments in real estate partnerships, in the Consolidated Statements of Operations. Cash distributions of earnings from operations from Investments in real estate partnerships are presented in Cash flows provided by operating activities in the accompanying Consolidated Statements of Cash Flows. Cash distributions from the sale of a property or loan proceeds received from the placement of debt on a property included in Investments in real estate partnerships are presented in Cash flows provided by investing activities in the accompanying Consolidated Statements of Cash Flows. If distributed proceeds from debt refinancing and real estate sales in excess of Regency's carrying value of its investment results in a negative investment balance for a partnership, it is recorded within Accounts payable and other liabilities in the Consolidated Balance Sheets. The net difference in the carrying amount of investments in real estate partnerships and the underlying equity in net assets is accreted to earnings and recorded in Equity in income of investments in real estate partnerships in the accompanying Consolidated Statements of Operations over the expected useful lives of the properties and other intangible assets, which range in lives from 10 to 40 years . o Those partnerships in which Regency has a controlling financial interest are consolidated. Additionally, 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. The limited partners' ownership interest and share of net income is recorded as noncontrolling interest. 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, 2022 December 31, 2021 Assets Net real estate investments $ 107,725 379,075 Cash, cash equivalents, and restricted cash 2,420 5,202 Liabilities Notes payable 4,188 5,000 Equity Limited partners’ interests in consolidated partnerships 24,364 27,950 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 members' interest or sell its own interest in these consolidated partnerships. The Operating Partnership has included these noncontrolling interests in permanent capital, separate from partners' capital, in the accompanying Consolidated Balance Sheets and Consolidated Statements of Capital. The portion of net income (loss) or comprehensive income (loss) attributable to these noncontrolling interests is included in Net income and Comprehensive income in the accompanying Consolidated Statements of Operations and Consolidated Statements Comprehensive Income of the Operating Partnership. (b) Revenues and Tenant Receivable Leasing Income and Tenant Receivables The Company leases space to tenants under agreements with varying terms that generally provide for fixed payments of base rent, with stated increases over the term of the lease. Some of the lease agreements contain provisions that provide for additional rents based on tenants' sales volume ("percentage rent"), which are recognized when the tenants achieve the specified targets as defined in their lease agreements. Additionally, most lease agreements contain provisions for reimbursement of the tenants' share of actual real estate taxes and insurance and common area maintenance ("CAM") costs (collectively "Recoverable Costs") incurred. Lease terms generally range from three to seven years for tenant 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 tenants the option to extend their lease beyond the initial term of the lease. If a tenant does not exercise its option or otherwise negotiate to renew, the lease expires and the lease contains an obligation for the tenant to relinquish its space, allowing it to be 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. The Company accounts for its leases under ASC Topic 842, Leases ("Topic 842"), as follows: Classification Under Topic 842, new leases or modifications thereto must be evaluated against specific classification criteria, which, based on the customary terms of the Company's leases, are classified as operating leases. However, certain longer-term leases (both lessee and lessor leases) may be classified as direct financing or sales type leases, which may result in selling profit and an accelerated pattern of earnings recognition. At December 31, 2022, all of the Company's leases were classified as operating leases. Recognition and Presentation Lease income for operating leases with fixed payment terms is recognized on a straight-line basis over the expected term of the lease for all leases for which collectibility is considered probable. CAM is considered a non-lease component of the lease contract under Topic 842. However, as the timing and pattern of providing the CAM service to the tenant is the same as the timing and pattern of the tenant's use of the underlying lease asset, the Company elected, as part of an available practical expedient, to combine CAM with the remaining lease components, along with tenant's reimbursement of real estate taxes and insurance, and recognize them together as Lease income in the accompanying Consolidated Statements of Operations. Collectibility At lease commencement, the Company generally expects that collectibility of substantially all payments due under the lease is probable due to the Company's credit checks on tenants and other creditworthiness analysis undertaken before entering into a new lease; therefore, income from most operating leases is initially recognized on a straight-line basis. For operating leases in which collectibility of Lease income is not considered probable, Lease income is recognized on a cash basis and all previously recognized straight-line rent receivables are reversed in the period in which the Lease income is determined not to be probable of collection. Should collectibility of Lease income become probable again, through evaluation of qualitative and quantitative measures on a tenant by tenant basis, accrual basis accounting resumes and all commencement-to-date straight-line rent is recognized in that period. In addition to the lease-specific collectibility assessment performed under Topic 842, the Company may also recognize a general reserve, as a reduction to Lease income, for its portfolio of operating lease receivables which are not expected to be fully collectible based on the Company's historical collection experience. The Company estimates the collectibility of the accounts receivable related to base rents, straight-line rents, recoveries from tenants, and other revenue taking into consideration the Company's historical write-off experience, tenant credit-worthiness, current economic trends, and remaining lease terms. Uncollectible lease income is a direct charge against Lease income. Although we estimate uncollectible receivables and provide for them through charges against income, actual experience may differ from those estimates. The following table represents the components of Tenant and other receivables, net of amounts considered uncollectible, in the accompanying Consolidated Balance Sheets: December 31, (in thousands) 2022 2021 Tenant receivables $ 31,486 27,354 Straight-line rent receivables 128,214 103,942 Other receivables (1) 29,163 21,795 Total tenant and other receivables, net $ 188,863 153,091 (1) Other receivables include construction receivables, insurance receivables, and amounts due from real estate partnerships for Management, transaction and other fee income. Real Estate Sales The Company accounts for sales of nonfinancial assets under ASC Subtopic 610-20, Other Income - Gains and Losses from the Derecognition of Nonfinancial Assets , whereby the Company derecognizes real estate and recognizes a gain or loss on sales when a contract exists and control of the property has transferred to the buyer. Control of the property, including controlling financial interest, is generally considered to transfer upon closing through transfer of the legal title and possession of the property. While generally rare, any retained noncontrolling interest is measured at fair value at that time. Management Services and Other Property Income The Company recognizes revenue under ASC Topic 606, Revenue from Contracts with Customers ("Topic 606") , when or as control of the promised services are transferred to its customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those services. The following is a description of the Company's revenue from contracts with customers within the scope of Topic 606. Property and Asset Management Services The Company is engaged under agreements with its joint venture partnerships, which are generally perpetual in nature and cancellable through unanimous partner approval, absent an event of default. Under these agreements, the Company is to provide asset and property management and leasing services for the joint ventures' shopping centers. The fees are market-based, generally calculated as a percentage of either revenues earned or the estimated values of the properties managed or the proceeds received, and are recognized over the monthly or quarterly periods as services are rendered. Property management and asset management services represent a series of distinct daily services. Accordingly, the Company satisfies its performance obligation as service is rendered each day and the variability associated with that compensation is resolved each day. Amounts due from the partnerships for such services are paid during the month following the monthly or quarterly service periods. Several of the Company's partnership agreements provide for incentive payments, generally referred to as "promotes" or "earnouts," to Regency for appreciation in property values in Regency's capacity as 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. Leasing Services Leasing service fees are based on a percentage of the total rent due under the lease. The leasing service is considered performed upon successful execution of an acceptable tenant lease for the joint ventures' shopping centers, at which time revenue is recognized. Payment of the first half of the fee is generally due upon lease execution and the second half is generally due upon tenant opening or rent payments commencing. 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 2022 2021 2020 Management, transaction, and other fees: Property management services Over time $ 13,470 14,415 14,444 Asset management services Over time 6,752 6,921 6,963 Promote income Over time — 13,589 (1) — Leasing services Point in time 3,945 4,096 3,150 Other transaction fees Point in time 1,684 1,316 1,944 Total management, transaction, and other fees $ 25,851 40,337 26,501 (1) The Company recognized $ 13.6 million in promote revenue during the year ended December 31, 2021 , for exceeding partnership return thresholds from the Company's performance as managing member in the USAA partnership. The consideration was paid in the form of a real estate asset. The accounts receivable for management services, which are included within Tenant and other receivables in the accompanying Consolidated Balance Sheets, are $ 16.4 million and $ 13.2 million , as of December 31, 2022 and 2021 , respectively. (c) Real Estate Assets The following table details the components of Real estate assets in the Consolidated Balance Sheets: (in thousands) December 31, 2022 December 31, 2021 Land $ 4,379,877 4,340,084 Land improvements 707,227 684,613 Buildings 5,465,877 5,270,540 Building and tenant improvements 1,171,650 1,061,044 Construction in progress 133,433 139,300 Total real estate assets $ 11,858,064 11,495,581 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, 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, 2022 and 2021, the Company had nonrefundable deposits and other pre-development costs of approximately $ 6.9 million and $ 10.8 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, 2022, 2021, and 2020, the Company expensed pre-development costs of approximately $ 588,000 , $ 1.5 million , and $ 10.5 million , respectively, in Other operating expenses in the accompanying Consolidated Statements of Operations. Interest costs are capitalized into each development and redevelopment project based upon applying the Company's weighted average borrowing rate to that portion of the actual development or redevelopment costs 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, 2022, 2021, and 2020, the Company capitalized interest of $ 4.2 million , $ 4.2 million , and $ 4.4 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, 2022, 2021, and 2020, we capitalized $ 10.8 million , $ 11.3 million , and $ 10.2 million , respectively, of direct internal costs incurred to support our development and redevelopment program. Acquisitions Upon acquisition of operating real estate properties, the Company estimates the fair value of acquired tangible assets (consisting of land, building, building improvements and tenant improvements) and identified intangible assets and liabilities (consisting of above and below-market leases and in-place leases), assumed debt, and any noncontrolling interest in the acquiree at the date of acquisition, based on evaluation of information and estimates available at that date. Based on these estimates, the Company allocates the relative fair value to the applicable assets and liabilities. The acquisition of operating properties are generally considered asset acquisitions and therefore transaction costs are capitalized. Fair value is determined based on an exit price approach, which contemplates the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Company's methodology includes estimating an "as-if vacant" fair value of the physical property, which includes land, building, and improvements. In addition, the Company determines the estimated fair value of identifiable intangible assets and liabilities, considering the following categories: (i) value of in-place leases, and (ii) above and below-market value of in-place leases. The value of in-place leases is estimated based on the value associated with the costs avoided in originating leases compared to the acquired in-place leases as well as the value associated with lost rental and recovery revenue during the assumed lease-up period. The value of in-place leases is recorded to Depreciation and amortization expense in the Consolidated Statements of Operations over the remaining expected term of the respective leases. Above-market and below-market in-place lease values for acquired properties are recorded based on the present value of the difference between (i) the contractual amounts to be paid pursuant to the in-place leases and (ii) management's estimate of 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. If tenants do not remain in their lease through the expected term or exercise an assumed renewal option, there could be a material impact to earnings. The Company does not assign value to customer relationship intangibles if it has pre-existing business relationships with the major retailers at the acquired property since they do not provide incremental value over the Company's existing relationships. Held for Sale The Company classifies 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. Valuation of Real Estate Investments The Company evaluates whether there are any events or changes in circumstances, including property operating performance, and general market conditions, or changes in expected hold periods, that indicate the carrying value of the real estate properties (including any related amortizable intangible assets or liabilities) may not be recoverable. For those properties with such events or changes, management evaluates recoverability of the property's carrying amount. Through the evaluation, the current carrying value of the asset is compared to the estimated undiscounted cash flows that are directly associated with the use and ultimate disposition of the asset. Estimated cash flows are based on several key assumptions, including rental rates, expected leasing activity, costs of tenant improvements, leasing commissions, expected hold period, and assumptions regarding the residual value upon disposition, including the exit capitalization rate. These key assumptions are subjective in nature and could differ materially from actual results. Changes in events or changes in circumstances may alter the hold period of an asset or asset group which may result in an impairment loss and such loss could be material to the Company's financial condition or operating performance. 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 the estimated 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 Comp |
Real Estate Investments
Real Estate Investments | 12 Months Ended |
Dec. 31, 2022 | |
Real Estate [Abstract] | |
Real Estate Investments | 2. Real Estate Investments 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, 2022 Date Property Name City/State Property Regency Ownership Purchase (1) Debt (1) Intangible (1) Intangible (1) 3/1/22 Glenwood Green Old Bridge, NJ Development 70 % $ 11,000 — — — 3/31/22 Island Village Bainbridge Island, WA Operating 100 % 30,650 — 2,900 6,839 4/1/22 Apple Valley (2) Apple Valley, MN Operating 100 % 34,070 — 4,773 490 4/1/22 Cedar Commons (2) Minneapolis, MN Operating 100 % 29,330 — 4,369 58 4/1/22 Corral Hollow (2) Tracy, CA Operating 100 % 40,600 — 3,410 74 4/1/22 Shops at the Columbia (2) Washington, DC Operating 100 % 14,000 — 889 181 5/6/22 Baederwood Shoppes Jenkintown, PA Operating 80 % 51,603 22,779 5,796 1,062 10/12/22 East Meadow Plaza East Meadow, NY Operating 100 % 30,000 — 3,295 10,867 Total property acquisitions $ 241,253 22,779 25,432 19,571 (1) Amounts reflected for purchase price and allocation are reflected at 100 % . (2) These properties were part of the four-property portfolio purchased from an existing unconsolidated real estate partnership, RegCal, LLC, in which the company held a 25 % ownership interest. The basis allocated to Real estate assets was $ 93.2 million on a combined basis, including the Company's carryover basis related to its 25 % previously owned equity interest in the partnership. In addition to the acquisitions listed above, the Company acquired, for $ 9.0 million, the remaining 50 % ownership interest from its partner in Kroger New Albany Center, an existing consolidated property. (in thousands) December 31, 2021 Date Property Name City/State Property Regency Ownership Purchase (1) Debt (1) Intangible (1) Intangible (1) 7/30/21 Willa Springs (2) Winter Springs, FL Operating 100 % $ 34,500 17,682 1,562 643 8/1/21 Dunwoody Hall (2) Dunwoody, GA Operating 100 % 32,000 14,612 2,255 973 8/1/21 Alden Bridge (2) Woodlands, TX Operating 100 % 43,000 27,529 3,198 2,308 8/1/21 Hasley Canyon Village (2) Castaic, CA Operating 100 % 31,000 16,941 2,037 — 8/1/21 Shiloh Springs (2) Garland, TX Operating 100 % 19,500 — 1,825 1,079 8/1/21 Bethany Park Place (2) Allen, TX Operating 100 % 18,000 10,800 996 1,732 8/1/21 Blossom Valley (2) Mountain View, CA Operating 100 % 44,000 23,611 2,895 732 11/18/21 Blakeney Shopping Center Charlotte, NC Operating 100 % 181,000 — 14,096 4,431 12/30/21 Valley Stream Long Island, NY Operating 100 % 48,000 — 21,505 1,675 12/30/21 East Meadow Long Island, NY Operating 100 % 38,000 — 6,521 1,197 12/30/21 Wading River Long Island, NY Operating 100 % 35,000 — 4,998 1,469 12/30/21 Eastport Long Island, NY Operating 100 % 9,000 — 1,366 498 Total property acquisitions $ 533,000 111,175 63,254 16,737 (1) Amounts reflected for purchase price and allocation are reflected at 100 %. (2) These properties were part of the seven-property portfolio purchased from an existing unconsolidated real estate partnership, US Regency Retail I, LLC. The basis allocated to Real estate assets was $ 192.9 million, including the Company's carryover basis related to its 20 % previously owned equity interest in the partnership. |
Property Dispositions
Property Dispositions | 12 Months Ended |
Dec. 31, 2022 | |
Discontinued Operations and Disposal Groups [Abstract] | |
Property Dispositions | 3. Property Dispositions Dispositions The following table provides a summary of consolidated shopping centers and land parcels sold during the periods set forth below: Year ended December 31, (in thousands, except number sold data) 2022 2021 2020 Net proceeds from sale of real estate investments $ 143,133 206,193 189,444 Gain on sale of real estate, net of tax $ 109,005 91,119 67,465 Provision for impairment of real estate sold $ — 112 958 Number of operating properties sold 2 7 6 Number of land parcels sold 5 5 11 Percent interest sold 100 % 100 % 50 % - 100 % |
Investments in Real Estate Part
Investments in Real Estate Partnerships | 12 Months Ended |
Dec. 31, 2022 | |
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, 2022 (in thousands) Regency's Ownership Number of Properties Total Investment Total Assets of the Partnership The Company's Share of Net Income of the Partnership Net Income of the Partnership GRI - Regency, LLC (GRIR) 40.00 % 66 $ 155,302 1,501,876 35,819 83,989 New York Common Retirement Fund (NYC) (1) 30.00 % — 674 2,468 9,173 35,673 Columbia Regency Retail Partners, LLC (Columbia I) 20.00 % 7 7,423 138,493 1,817 9,392 Columbia Regency Partners II, LLC (Columbia II) 20.00 % 13 41,757 405,927 1,735 8,674 Columbia Village District, LLC 30.00 % 1 5,836 96,002 1,669 5,597 RegCal, LLC (RegCal) (2) 25.00 % 1 5,789 24,326 4,499 18,258 Individual Investors Ballard Bocks 49.90 % 2 62,624 126,482 1,300 2,925 Town & Country Center 35.00 % 1 40,409 206,931 819 2,404 Others 50.00 % 5 30,563 105,500 2,993 6,254 Total investments in real estate partnerships 96 $ 350,377 2,608,005 59,824 173,166 (1) On May 25, 2022, the NYC partnership sold the remaining two properties and distributed sales proceeds to the members. Dissolution will follow final distributions, which are expected in 2023. (2) During April 2022, we acquired our partner's 75 % share in four properties held in the RegCal, LLC, partnership for a total purchase price of $ 88.5 million. Upon acquisition, these four properties were consolidated into Regency's financial statements. A single operating property remains within RegCal, LLC, at December 31, 2022 . December 31, 2021 (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 $ 153,125 1,537,411 34,655 78,112 New York Common Retirement Fund (NYC) 30.00 % 2 11,688 82,446 315 6,939 Columbia Regency Retail Partners, LLC (Columbia I) 20.00 % 7 7,360 135,537 1,976 10,256 Columbia Regency Partners II, LLC (Columbia II) 20.00 % 12 35,251 352,469 10,987 55,059 Columbia Village District, LLC 30.00 % 1 5,554 94,536 1,522 5,131 RegCal, LLC (RegCal) 25.00 % 6 24,995 103,587 2,058 8,448 US Regency Retail I, LLC (USAA) (1) 20.01 % — — — 631 3,155 Individual Investors Ballard Bocks 49.90 % 2 63,783 128,959 1,742 3,811 Town & Country Center 35.00 % 1 39,021 207,339 ( 733 ) 2,014 Others 50.00 % 5 31,814 113,160 ( 6,067 ) 26,351 Total investments in real estate partnerships 103 $ 372,591 2,755,444 47,086 199,276 (1) On August 1, 2021, the Company acquired the partner's 80 % interest in the seven properties held in the USAA partnership and therefore all earnings of this property are included in consolidated results from the date of acquisition and excluded from partnership earnings. See note 2. The summarized balance sheet information for the investments in real estate partnerships, on a combined basis, is as follows: December 31, (in thousands) 2022 2021 Investments in real estate, net $ 2,359,289 2,530,964 Acquired lease intangible assets, net 16,821 18,735 Other assets 231,895 205,745 Total assets $ 2,608,005 2,755,444 Notes payable $ 1,398,297 1,444,867 Acquired lease intangible liabilities, net 17,619 20,978 Other liabilities 81,714 90,097 Capital - Regency 412,784 438,510 Capital - Third parties 697,591 760,992 Total liabilities and capital $ 2,608,005 2,755,444 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) 2022 2021 Capital - Regency $ 412,784 438,510 Basis difference ( 62,407 ) ( 65,919 ) Investments in real estate partnerships $ 350,377 372,591 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) 2022 2021 2020 Total revenues $ 378,096 416,222 381,094 Operating expenses: Depreciation and amortization 86,193 94,026 101,590 Property operating expense 61,224 66,061 65,146 Real estate taxes 42,010 54,618 53,747 General and administrative 5,615 5,837 5,870 Other operating expenses 3,851 3,624 3,126 Total operating expenses $ 198,893 224,166 229,479 Other expense (income): Interest expense, net 54,874 58,109 66,786 Gain on sale of real estate ( 49,424 ) ( 75,162 ) ( 7,146 ) Early extinguishment of debt 587 — 554 Provision for impairment — 9,833 — Total other expense (income) 6,037 ( 7,220 ) 60,194 Net income of the Partnerships $ 173,166 199,276 91,421 The Company's share of net income of the Partnerships $ 59,824 47,086 34,169 Acquisitions The following table provides a summary of shopping centers and land parcels acquired through our unconsolidated real estate partnerships during 2022, which had no such acquisitions in 2021: (in thousands) Year ended December 31, 2022 Date Property City/State Property Co-investment Ownership Purchase Price (1) Debt Assumed, Net of Premiums (1) Intangible Assets (1) Intangible Liabilities (1) 03/25/22 Naperville Plaza Naperville, IL Operating Columbia II 20.00 % $ 52,380 22,074 4,336 814 06/24/22 Baybrook East 1B Houston, TX Development Other 50.00 % 5,540 — — — Total property acquisitions $ 57,920 22,074 4,336 814 (1) Amounts reflected for purchase price and allocation are reflected at 100 %. Dispositions The following table provides a summary of shopping centers and land parcels disposed of through our unconsolidated real estate partnerships: Year ended December 31, (in thousands) 2022 2021 2020 Proceeds from sale of real estate investments $ 116,377 224,708 27,974 Gain on sale of real estate $ 49,424 75,162 7,147 The Company's share of gain on sale of real estate $ 12,748 9,380 2,413 Number of operating properties sold 4 4 2 Number of land out-parcels sold — 1 — Notes Payable Scheduled principal repayments on notes payable held by our unconsolidated investments in real estate partnerships as of December 31, 2022, were as follows: (in thousands) Scheduled Mortgage Unsecured Total Regency's 2023 $ 3,194 125,108 — 128,302 51,187 2024 2,205 33,690 — 35,895 14,298 2025 3,433 139,683 — 143,116 43,908 2026 3,807 218,883 23,800 246,490 79,741 2027 3,802 32,800 — 36,602 12,420 Beyond 5 Years 9,194 809,650 — 818,844 300,506 Net unamortized loan costs, debt premium / (discount) — ( 10,952 ) — ( 10,952 ) ( 3,800 ) Total notes payable $ 25,635 1,348,862 23,800 1,398,297 498,260 These fixed and variable rate notes payable are all non-recourse to the partnerships, and mature through 2034 , with 97.9 % having a weighted average fixed interest rate of 3.7 % . The remaining notes payable float with LIBOR or SOFR and had a weighted average variable interest rate of 5.9 % at December 31, 2022. As notes payable mature, they will be repaid from proceeds from new borrowings and/or partner capital contributions. Refinancing debt at maturity in the current interest rate environment could result in higher interest expense in future periods if rates remain elevated. The Company is obligated to contribute its Pro-rata share to fund maturities if the loans are not refinanced, and it has the capacity to do so from existing cash balances, availability on its line of credit, and operating cash flows. The Company believes that its partners are financially sound and have sufficient capital or access thereto to fund future capital requirements. In the event that a 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 which would be secured by the partner's membership interest. Management fee income In addition to earning our Pro-rata share of net income or loss in each of these co-investment partnerships, we receive fees as discussed in Note 1, as follows: Year ended December 31, (in thousands) 2022 2021 2020 Asset management, property management, leasing, and investment and financing services $ 25,851 40,301 (1) 26,618 (1) In connection with the USAA partnership, we received and recognized a one-time promote fee of $ 13.6 million during the year ended December 31, 2021 , in consideration for exceeding return thresholds resulting from our performance as managing member. |
Other Assets
Other Assets | 12 Months Ended |
Dec. 31, 2022 | |
Other Assets [Abstract] | |
Other Assets | 5. Other Assets The following table represents the components of Other assets in the accompanying Consolidated Balance Sheets as of the periods set forth below: (in thousands) December 31, 2022 December 31, 2021 Goodwill $ 167,062 167,095 Investments 54,581 65,112 Prepaid and other 28,615 21,332 Derivative assets 6,575 — Furniture, fixtures, and equipment, net 5,808 5,444 Deferred financing costs, net 5,156 7,448 Total other assets $ 267,797 266,431 The following table presents the goodwill balances and activity during the year to date periods ended: December 31, 2022 December 31, 2021 (in thousands) Goodwill Accumulated Total Goodwill Accumulated Total Beginning of year balance $ 300,529 ( 133,434 ) 167,095 $ 307,413 ( 133,545 ) 173,868 Goodwill allocated to Provision for impairment — — — — — — Goodwill allocated to Properties held for sale — — — ( 2,465 ) — ( 2,465 ) Goodwill associated with disposed reporting units: Goodwill allocated to Provision for impairment — — — ( 111 ) 111 — Goodwill allocated to Gain on sale of real estate ( 33 ) — ( 33 ) ( 4,308 ) — ( 4,308 ) End of year balance $ 300,496 ( 133,434 ) 167,062 $ 300,529 ( 133,434 ) 167,095 As the Company identifies properties ("reporting units") that no longer meet its investment criteria, it will evaluate the property for potential sale. A decision to sell a reporting unit results in the need to evaluate its goodwill for recoverability and may result in impairment. Additionally, other changes impacting a reporting unit may be considered a triggering event. If events occur that trigger an impairment evaluation at multiple reporting units, a goodwill impairment may be significant. |
Acquired Lease Intangibles
Acquired Lease Intangibles | 12 Months Ended |
Dec. 31, 2022 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Acquired Lease Intangible | 6. Acquired Lease Intangibles The Company had the following acquired lease intangibles as of the periods set forth below: December 31, (in thousands) 2022 2021 In-place leases $ 452,868 443,460 Above-market leases 82,930 81,433 Total intangible assets 535,798 524,893 Accumulated amortization ( 338,053 ) ( 312,186 ) Acquired lease intangible assets, net $ 197,745 212,707 Below-market leases 547,519 535,569 Accumulated amortization ( 193,315 ) ( 172,293 ) Acquired lease intangible liabilities, net $ 354,204 363,276 The following table provides a summary of amortization and net accretion amounts from acquired lease intangibles: Year ended December 31, (in thousands) 2022 2021 2020 Line item in Consolidated Statements of Operations In-place lease amortization $ 34,568 33,621 48,297 Depreciation and amortization Above-market lease amortization 5,828 5,487 7,658 Lease income Acquired lease intangible asset amortization $ 40,396 39,108 55,955 Below-market lease amortization $ 28,642 30,378 50,103 Lease income The estimated aggregate amortization and net accretion amounts from acquired lease intangibles for the next five years are as follows: (in thousands) In Process Year Ending Amortization of Net accretion of Above 2023 $ 28,033 22,518 2024 21,830 20,406 2025 17,611 19,814 2026 14,421 19,098 2027 11,392 17,956 |
Leases
Leases | 12 Months Ended |
Dec. 31, 2022 | |
Leases [Abstract] | |
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 ("Recoverable Costs"). Income for these amounts is recognized on a straight-line basis. Variable lease income includes the following two main items in the lease contracts: (i) Recoveries from tenants represents the tenants' contractual obligations to reimburse the Company for their portion of Recoverable Costs incurred. Generally the Company's leases provide for the tenants to reimburse the Company based on the tenants' share of the actual costs incurred in proportion to the tenants' share of leased space in the property. (ii) Percentage rent represents amounts billable to tenants based on the tenants' actual sales volume in excess of levels specified in the lease contract. The following table provides a disaggregation of lease income recognized as either fixed or variable lease income based on the criteria specified in Topic 842: (in thousands) December 31, 2022 December 31, 2021 December 31, 2020 Operating lease income Fixed and in-substance fixed lease income $ 851,409 797,502 807,603 Variable lease income 287,149 262,619 247,384 Other lease related income, net: Above/below market rent and tenant rent inducement amortization, net 22,543 24,539 42,219 Uncollectible straight-line rent (1) 12,510 5,227 ( 34,673 ) Uncollectible amounts billable in lease income (1) 13,841 23,481 ( 82,367 ) Total lease income $ 1,187,452 1,113,368 980,166 (1) During the years ended December 31, 2022 and 2021 , the Company had improved rent collections following lifting of pandemic-related restrictions which resulted in more favorable income than experienced in 2020 during the height of the pandemic. 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, 2022 2023 $ 850,211 2024 768,797 2025 657,870 2026 552,735 2027 440,844 Thereafter 1,579,740 Total $ 4,850,197 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 19 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, 2022 December 31, 2021 December 31, 2020 Fixed operating lease expense Ground leases $ 13,759 13,862 13,716 Office leases 4,162 4,309 4,334 Total fixed operating lease expense 17,921 18,171 18,050 Variable lease expense Ground leases 1,591 1,032 1,044 Office leases 611 615 585 Total variable lease expense 2,202 1,647 1,629 Total lease expense $ 20,123 19,818 19,679 Cash paid for amounts included in the measurement of operating lease liabilities Operating cash flows for operating leases $ 14,656 15,165 15,003 The following table summarizes the undiscounted future cash flows by year attributable to the operating lease liabilities for ground and office leases as of December 31, 2022, 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 2023 $ 10,750 4,046 14,796 2024 10,799 3,082 13,881 2025 10,801 2,880 13,681 2026 10,722 2,715 13,437 2027 10,722 1,517 12,239 Thereafter 516,564 741 517,305 Total undiscounted lease liabilities $ 570,358 14,981 585,339 Present value discount ( 370,486 ) ( 1,131 ) ( 371,617 ) Lease liabilities $ 199,872 13,850 213,722 Weighted average discount rate 5.2 % 3.6 % Weighted average remaining term (in years) 46.8 4.4 |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2022 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | 8. Income Taxes The Company has elected to be taxed as a REIT under the applicable provisions of the Internal Revenue Code with certain of its subsidiaries treated as taxable REIT subsidiary entities, which are subject to federal and state income taxes. The following table summarizes the tax status of dividends paid on our common shares: Year ended December 31, (in thousands) 2022 2021 2020 Dividend per share $ 2.53 (1) 2.53 (2) 2.19 Ordinary income 100 % 92 % 100 % Capital gain (3) — % 8 % — % Additional tax status information: Qualified dividend income — % 1 % — % Section 199A dividend 100 % 91 % 100 % Section 897 ordinary dividends — % 2 % — % Section 897 capital gains — % 4 % — % (1) During 2022, the Company declared four quarterly dividends, the last of which was paid on January 4, 2023, with a portion allocated to the 2022 dividend period, and the balance allocated to 2023. (2) During 2021, the Company declared four quarterly dividends, the last of which was paid on January 5, 2022, with a portion allocated to the 2021 devidend period, and the balance allocated to 2022. (3) Of the total capital gain distribution during 2021, 42 % is excluded under Reg. 1.1061-4(b)(7). The remaining 58 % is a Three Year Amount under Reg. 1.1061-6(c). Our consolidated expense (benefit) for income taxes for the years ended December 31, 2022, 2021, and 2020 was as follows: Year ended December 31, (in thousands) 2022 2021 2020 Income tax expense (benefit): Current $ ( 332 ) 620 2,157 Deferred 293 421 ( 891 ) Total income tax expense (benefit) (1) $ ( 39 ) 1,041 1,266 (1) Includes $( 39,000 ) , $ 943,000 and $( 355,000 ) of tax expense (benefit) presented within Other operating expenses during the years ended December 31, 2022, 2021, and 2020, respectively. Additionally, $ 1,600,000 of tax expense is presented within Gain on sale of real estate (or Provision for impairment), net of tax, during the year ended December 31, 2020 . 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) 2022 2021 2020 Computed expected tax expense (benefit) $ 504 544 ( 3,665 ) State income tax, net of federal benefit 52 477 ( 593 ) Valuation allowance ( 323 ) 15 1,043 Permanent items 1 1 5,079 All other items ( 273 ) 4 ( 598 ) Total income tax expense (1) ( 39 ) 1,041 1,266 Income tax expense attributable to operations (1) $ ( 39 ) 1,041 1,266 (1) Includes $( 39,000 ) , $ 943,000 , and $( 355,000 ) of tax expense (benefit) presented within Other operating expenses during the years ended December 31, 2022, 2021, and 2020, respectively. Additionally, $ 1,600,000 of tax expense is presented within Gain on sale of real estate (or Provision for impairment), net of tax, during the year ended December 31, 2020 . 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) 2022 2021 Deferred tax assets Fixed assets $ — 1,039 Other 1,007 1,379 Deferred tax assets 1,007 2,418 Valuation allowance ( 1,007 ) ( 2,418 ) Deferred tax assets, net $ — — Deferred tax liabilities Fixed assets ( 12,527 ) ( 13,004 ) Other ( 61 ) ( 340 ) Deferred tax liabilities ( 12,588 ) ( 13,344 ) Net deferred tax liabilities $ ( 12,588 ) ( 13,344 ) 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, 2022 | |
Debt Disclosure [Abstract] | |
Notes Payable and Unsecured Credit Facilities | 9. Notes Payable and Unsecured Credit Facilities The Company's outstanding debt, net of unamortized debt premium (discount) and debt issuance costs, consisted of the following as of the dates set forth below: Maturing Weighted Weighted December 31, (in thousands) 2022 2021 Notes payable: Fixed rate mortgage loans 3/1/2032 3.9 % 3.5 % $ 342,135 359,414 Variable rate mortgage loans (1) 6/2/2027 3.4 % 3.7 % 136,246 115,539 Fixed rate unsecured debt 3/15/2049 3.8 % 4.0 % 3,248,373 3,243,991 Total notes payable 3,726,754 3,718,944 Unsecured credit facilities: Line of Credit (2) 3/23/2025 5.0 % 5.3 % — — Total debt outstanding $ 3,726,754 3,718,944 (1) Five of these six variable rate loans, representing $ 132.1 million of debt in the aggregate, have interest rate swaps in place to mitigate interest rate fluctuation risk. With these swap agreements, the fixed rates of the loans range f rom 2.5 % to 4.1 %. (2) Weighted-average effective rate for the Line is calculated based on a fully drawn Line balance using the period end variable rate. 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, 2022, management of the Company believes it is in compliance with all financial covenants for its unsecured public debt. Unsecured Credit Facilities The Company has an unsecured line of credit commitment (the "Line") with a syndicate of banks. At December 31, 2022 , 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 plu s an applicable margin of 0.865% and is subject to a commitment fee of 0.15 %, both of which are based on the Company's corporate credit rating. On January 12, 2023, the Line was amended to convert the reference rate from LIBOR to SOF R plus a 0.10% market adjustment, with no changes in the applicable margin. The Company is required to comply with certain financial covenants as defined in the Line credit agreement, such as Ratio of Indebtedness to Total Asset Value ("TAV"), Ratio of Unsecured Indebtedness to Unencumbered Asset Value, Ratio of Adjusted EBITDA to Fixed Charges, Ratio of Secured Indebtedness to TAV, Ratio of Unencumbered Net Operating Income to Unsecured Interest Expense, and other covenants customary with this type of unsecured financing. As of December 31, 2022, the Company is in compliance with all financial covenants for the Line. Scheduled principal payments and maturities on notes payable and unsecured credit facilities were as follows: (in thousands) December 31, 2022 Scheduled Principal Payments and Maturities by Year: Scheduled Mortgage Unsecured (1) Total 2023 $ 9,695 59,383 — 69,078 2024 4,849 90,758 250,000 345,607 2025 3,732 44,250 250,000 297,982 2026 3,922 112,365 200,000 316,287 2027 3,788 137,915 525,000 666,703 Beyond 5 Years 2,873 319 2,050,000 2,053,192 Unamortized debt premium/(discount) and issuance costs — 4,532 ( 26,627 ) ( 22,095 ) Total notes payable $ 28,859 449,522 3,248,373 3,726,754 (1) Includes unsecured public and private debt and unsecured credit facilities . The Company has $ 59.4 million of debt maturing over the next 12 months, which is in the form of five non-recourse mortgag e loans. The Company currently intends to repay three of the maturing balances, leaving the properties unencumbered, with plans to refinance the two remaining. 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, 2022 | |
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 transactions or purposes other than mitigation of interest rate risk. The use of derivative financial instruments carries certain risks, including the risk that the counterparties to these contractual arrangements are not able to perform under the agreements. To mitigate this risk, the Company only enters into derivative financial instruments with counterparties with quality credit ratings. The Company does not anticipate that any of the counterparties will fail to meet their obligations. The Company's objectives in using interest rate derivatives are to attempt to stabilize interest expense where possible and to manage its exposure to interest rate movements. To accomplish this objective, the Company primarily uses interest rate swaps as part of its interest rate risk management strategy. Interest rate swaps designated as cash flow hedges involve the receipt of variable-rate amounts from a counterparty in exchange for the Company making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. The following table summarizes the terms and fair values of the Company's derivative financial instruments, as well as their classification on the Consolidated Balance Sheets: Fair Value at December 31, (in thousands) Assets (Liabilities) (1) Effective Maturity Notional Bank Pays Variable Regency Pays 2022 2021 4/7/16 4/1/23 $ 18,637 LIBOR 1.303 % $ 152 ( 175 ) 12/1/16 11/1/23 31,131 SOFR 1.490 % 883 ( 412 ) 9/17/19 3/17/25 24,000 SOFR 1.443 % 1,443 ( 364 ) 6/2/17 6/2/27 35,446 SOFR 2.261 % 2,158 ( 1,907 ) 12/20/19 (2) 12/19/26 24,365 LIBOR 1.750 % 1,939 — Total derivative financial instruments $ 6,575 ( 2,858 ) (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) The Company assumed this interest rate swap which hedges debt also assumed with the purchase of Baederwood Shoppes in May 2022. 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, 2022, 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) Location and Amount of Loss (Gain) Total amounts presented in the Consolidated Year ended December 31, Year ended December 31, Year ended December 31, (in thousands) 2022 2021 2020 2022 2021 2020 2022 2021 2020 Interest $ 20,061 5,391 ( 19,187 ) Interest expense, net $ 833 4,141 8,790 Interest $ 146,186 145,170 156,678 Early extinguishment of debt (1) $ — — 2,472 Early extinguishment of debt $ — — 21,837 (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, 2022, the Company expects approximately $ 5.4 million of accumulated comprehensive income on derivative instruments in AOCI, including the Company's share from its Investments in real estate partnerships, to be reclassified into earnings during the next 12 months. |
Fair Value Measurements
Fair Value Measurements | 12 Months Ended |
Dec. 31, 2022 | |
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, 2022 2021 (in thousands) Carrying Fair Value Carrying Fair Value Financial liabilities: Notes payable $ 3,726,754 3,333,378 $ 3,718,944 4,103,533 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, 2022 and 2021, respectively. These fair value measurements maximize the use of observable inputs which are classified within Level 2 of the fair value hierarchy. However, in situations where there is little, if any, market activity for the asset or liability at the measurement date, the fair value measurement reflects the Company's own judgments about the assumptions that market participants would use in pricing the asset or liability. The Company develops its judgments based on the best information available at the measurement date, including expected cash flows, 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 loss (income) in the accompanying Consolidated Statements of Operations, and includes unrealized losses of $ 8.0 million for the year ended December 31, 2022, and unrealized gains of $ 1.7 million and $ 3.0 million for the years ended December 31, 2021, and 2020, 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 either recent trade prices for the identical debt instrument or comparable instruments by issuers of similar industry sector, issuer rating, and size, to estimate fair value, which are considered Level 2 inputs of the fair value hierarchy. Unrealized gains or losses on these debt securities are recognized through other comprehensive income. Interest Rate Derivatives The fair value of the Company's interest rate derivatives is determined using widely accepted valuation techniques including discounted cash flow analysis on the expected cash flows of each derivative. This analysis reflects the contractual terms of the derivatives, including the period to maturity, and uses observable market-based inputs, including interest rate curves and implied volatilities. The Company incorporates credit valuation adjustments to appropriately reflect both its own nonperformance risk and the respective counterparty's nonperformance risk in the fair value measurements. Although the Company has determined that the majority of the inputs used to value its derivatives fall within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with its derivatives utilize Level 3 inputs, such as estimates of current credit spreads, to evaluate the likelihood of default by the Company and its counterparties. The Company has assessed the significance of the impact of the credit valuation adjustments on the overall valuation of its derivative positions and has determined that the credit valuation adjustments are not significant to the overall valuation of its interest rate swaps. As a result, the Company determined that its interest rate swaps valuation in its entirety is classified in Level 2 of the fair value hierarchy. The following tables present the placement in the fair value hierarchy of assets and liabilities that are measured at fair value on a recurring basis: Fair Value Measurements as of December 31, 2022 (in thousands) Balance Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Assets: Securities $ 40,089 40,089 — — Available-for-sale debt securities 14,492 — 14,492 — Interest rate derivatives 6,575 — 6,575 — Total $ 61,156 40,089 21,067 — Fair Value Measurements as of December 31, 2021 (in thousands) Balance Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Assets: Securities $ 49,513 49,513 — — Available-for-sale debt securities 15,599 — 15,599 — Total $ 65,112 49,513 15,599 — Liabilities: Interest rate derivatives $ ( 2,858 ) — ( 2,858 ) — 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, 2021 (in thousands) Balance Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Total Gains (Losses) Operating properties $ 140,500 — — 140,500 ( 84,277 ) During the year ended December 31, 2022, there were no real estate assets re-measured to estimated fair value on a nonrecurring basis. During the year ended December 31, 2021 , the Company revalued two shopping centers to estimated fair value due to a change in expected hold period using a discounted cash flow model. |
Equity and Capital
Equity and Capital | 12 Months Ended |
Dec. 31, 2022 | |
Equity And Capital [Abstract] | |
Equity and Capital | 12. Equity and Capital Common Stock of the Parent Company Dividends Declared On February 8, 2023 , our Board of Directors declared a common stock dividend of $ 0.65 per share, payable on April 5, 2023 , to shareholders of record as of March 15, 2023 . At the Market ("ATM") Program Under the Parent Company's ATM equity offering program, the Parent Company may sell up to $ 500 million of common stock at prices determined by the market at the time of sale. During 2021, the Company entered into forward sale agreements under its ATM program to issue shares of its common stock which were issued and settled as follows: • 1,332,142 shares were issued during 2021 at a weighted average offering price of $ 63.71 before any underwriting discounts and offerring expenses. The net proceeds received at settlement were approximately $ 82.5 million, after approximately $ 1.1 million underwriting discounts and offering expenses; • 984,618 shares were issued during 2022 at a weighted average offering price of $ 65.78 before underwriting discounts and offering expenses. The net proceeds received at settlement were approximately $ 61.3 million, after approximately $ 3.5 million in underwriting discounts and offering expenses. The proceeds were used to fund acquisitions. All shares are now settled under the forward sales agreements. No other sales occurred under the ATM program during 2022. As of December 31, 2022 , $ 350.4 million of common stock remained available for issuance under this ATM equity program. Share Repurchase Program On February 3, 2021, the Company’s Board authorized a common share repurchase program under which the Company could 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 (referred to as the "Authorized Repurchase Program"). Any shares purchased, if not retired, were treated as treasury shares. During the year ended December 31, 2022 , the Company executed multiple trades to repurchase 1,294,201 common shares under the Authorized Repurchase Program for a total of $ 75.4 million at a weighted average price of $ 58.25 per share. All repurchased shares were retired on the respective settlement dates. At December 31, 2022 , $ 174.6 million remained available under this Authorized Repurchase Program. This Authorized Repurchase Program expired o n February 3, 2023 . On February 8, 2023, 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, and/or in privately negotiated transactions. The timing and price of share repurchases, if any, will be dependent upon market conditions and other factors. Any shares repurchased, if not retired, will be treated as treasury shares. This new authorization will expire on February 7, 2025 , unless modified of earlier terminated by the Board. 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. During the year ended December 31, 2022 , 18,613 Partnership Units were converted to Parent Company common stock. General Partners The Parent Company, as general partner, owned the following Partnership Units outstanding: December 31, (in thousands) 2022 2021 Partnership units owned by the general partner 171,125 171,213 Partnership units owned by the limited partners 741 760 Total partnership units outstanding 171,866 171,973 Percentage of partnership units owned by the general partner 99.6 % 99.6 % |
Stock-Based Compensation
Stock-Based Compensation | 12 Months Ended |
Dec. 31, 2022 | |
Share-Based Payment Arrangement [Abstract] | |
Stock-Based Compensation | 13. Stock-Based Compensation The Company recorded stock-based compensation in General and administrative expenses in the accompanying Consolidated Statements of Operations, the components of which are further described below: Year ended December 31, (in thousands) 2022 2021 2020 Restricted stock (1) $ 16,667 12,651 14,248 Directors' fees paid in common stock and other employee stock grants 589 530 452 Capitalized stock-based compensation ( 735 ) ( 666 ) ( 1,119 ) Stock-based compensation, net of capitalization $ 16,521 12,515 13,581 (1) Includes amortization of the grant date fair value of restricted stock awards over the respective vesting periods . The Company established its Omnibus Incentive Plan (the "Plan") under which the Board of Directors may grant stock options and other stock-based awards to officers, directors, and other key employees. The Plan allows the Company to issue up to 5.0 million shares in the form of the Parent Company's common stock or stock options. As of December 31, 2022, there were 4.1 million sh ares available for grant under the Plan. Restricted Stock Awards The Company grants restricted stock under the Plan to its employees as a form of long-term compensation and retention. The terms of each restricted stock grant vary depending upon the participant's responsibilities and position within the Company. The Company's stock grants can be categorized as either time-based awards, performance-based awards, or market-based awards. All awards are valued at fair value, earn dividends throughout the vesting period, and have no voting rights. Fair value is measured using the grant date market price for all time-based or performance-based awards. Market based awards are valued using a Monte Carlo simulation to estimate the fair value based on the probability of satisfying the market conditions and the projected stock price at the time of payout, discounted to the valuation date over a three year performance period. Assumptions include historic volatility over the previous three year period, risk-free interest rates, and Regency's historic daily return as compared to the market index. Since the award payout includes dividend equivalents and the total shareholder return includes the value of dividends, no dividend yield assumption is required for the valuation. Compensation expense is measured at the grant date and recognized on a straight-line basis over the requisite vesting period for the entire award. The following table summarizes non-vested restricted stock activity: Year ended December 31, 2022 Number of Shares Intrinsic Value (in thousands) Weighted Average Grant Price Non-vested as of December 31, 2021 691,862 Time-based awards granted (1) (4) 148,048 $ 71.36 Performance-based awards granted (2) (4) 15,674 $ 71.68 Market-based awards granted (3) (4) 112,759 $ 74.98 Change in market-based awards earned for performance (3) 5,153 $ 71.58 Vested (5) ( 250,491 ) $ 71.05 Forfeited ( 11,306 ) $ 62.65 Non-vested as of December 31, 2022 (6) 711,699 $ 44,481 (1) Time-based awards vest beginning on the first anniversary following the grant date over a one or four year service period . These grants are subject only to continued employment and are not dependent on future performance measures. Accordingly, if such vesting criteria are not met, compensation cost previously recognized would be reversed. (2) Performance-based awards are earned subject to future performance measurements. Once the performance criteria are achieved and the actual number of shares earned is determined, shares vest over a required service period. The Company considers the likelihood of meeting the performance criteria based upon management's estimates from which it determines the amounts recognized as expense on a periodic basis. (3) Market-based awards are earned dependent upon the Company's total shareholder return in relation to the shareholder return of a NAREIT index over a three-year period. Once the performance criteria are met and the actual number of shares earned is determined, the shares are immediately vested and distributed. The probability of meeting the criteria is considered when calculating the estimated fair value on the date of grant using a Monte Carlo simulation. These awards are accounted for as awards with market criteria, with compensation cost recognized over the service period, regardless of whether the performance criteria are achieved and the awards are ultimately earned. The significant assumptions underlying determination of fair values for market-based awards granted were as follows: Year ended December 31, 2022 2021 2020 Volatility 43.10 % 42.60 % 18.50 % Risk free interest rate 1.39 % 0.18 % 1.30 % (4) The weighted-average grant price for restricted stock granted during the years is summarized below: Year ended December 31, 2022 2021 2020 Weighted-average grant price for restricted stock $ 72.86 $ 46.55 $ 64.14 (5) The total intrinsic value of restricted stock vested during the years is summarized below (in thousands): Year ended December 31, 2022 2021 2020 Intrinsic value of restricted stock vested $ 17,797 $ 10,939 $ 14,423 (6) As of December 31, 2022, there was $ 16.6 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, 2022 | |
Retirement Benefits [Abstract] | |
Saving and Retirement Plans | 14. Saving and Retirement Plans 401(k) Retirement Plan The Company maintains a 401(k) retirement plan covering substantially all employees and permits participants to defer eligible compensation up to the maximum allowable amount determined by the IRS. This deferred compensation, together with Company matching contributions equal to 100 % of employee deferrals up to a maximum of $ 5,000 of their eligible compensation, is fully vested and funded as of December 31, 2022 . Additionally, an annual profit sharing contribution may be made, which are fully vested after three years in service. Costs for Company contributions to the plan totaled $ 4.4 million , $ 4.1 million , and $ 3.5 million for the years ended December 31, 2022, 2021, and 2020, 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) 2022 2021 Location in Consolidated Balance Sheets Assets: Securities $ 36,163 44,464 Other assets Liabilities: Deferred compensation obligation $ 36,085 44,388 Accounts payable and other liabilities Realized and unrealized gains and losses on securities held in the NQDCP are recognized within Net investment loss (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 Additional paid in capital in the accompanying Consolidated Balance Sheets of the Parent Company and as a reduction of General partner capital in the accompanying Consolidated Balance Sheets of the Operating Partnership. Changes in participant account balances related to the Regency common stock fund are recorded directly within stockholders' equity. |
Earnings per Share and Unit
Earnings per Share and Unit | 12 Months Ended |
Dec. 31, 2022 | |
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) 2022 2021 2020 Numerator: Income attributable to common stockholders - basic $ 482,865 361,411 44,889 Income attributable to common stockholders - diluted $ 482,865 361,411 44,889 Denominator: Weighted average common shares outstanding for basic EPS 171,404 170,236 169,231 Weighted average common shares outstanding for diluted EPS (1) (2) 171,791 170,694 169,460 Income per common share – basic $ 2.82 2.12 0.27 Income per common share – diluted $ 2.81 2.12 0.26 (1) Includes the dilutive impact of unvested restricted stock. (2) Using the treasury stock method, weighted average common shares outstanding for basic and diluted earnings per share exclude 1.0 million shares issuable under the forward ATM equity offering outstanding during 2021 as they would be anti-dilutive. 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, 2022, 2021, and 2020, were 748,336 , 761,955 , and 765,046 , 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) 2022 2021 2020 Numerator: Income attributable to common unit holders - basic $ 484,970 363,026 45,092 Income attributable to common unit holders - diluted $ 484,970 363,026 45,092 Denominator: Weighted average common units outstanding for basic EPU 172,152 170,998 169,997 Weighted average common units outstanding for diluted EPU (1) (2) 172,540 171,456 170,225 Income per common unit – basic $ 2.82 2.12 0.27 Income per common unit – diluted $ 2.81 2.12 0.26 (1) Includes the dilutive impact of unvested restricted stock. (2) Using the treasury stock method, weighted average common shares outstanding for basic and diluted earnings per share exclude 1.0 million shares issuable under the forward ATM equity offering outstanding during 2021 as they would be anti-dilutive. |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2022 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | 16. Commitments and Contingencies Litigation The Company is involved in litigation on a number of matters, and is subject to other disputes that arise in the ordinary course of business. While the outcome of any particular lawsuit or dispute cannot be predicted with certainty, in the opinion of management, the Company's currently pending litigation and disputes are not expected to have a material adverse effect on the Company's consolidated financial position, results of operations, or liquidity. Legal fees are expensed as incurred. Environmental The Company is subject to numerous environmental laws and regulations pertaining primarily to chemicals historically used by certain current and former dry cleaning tenants, the existence of asbestos in older shopping centers, older underground petroleum storage tanks and other historic land use. 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, 2022 and 2021, the Company had $ 9.4 million in letters of credit outstanding. |
Schedule III - Consolidated Rea
Schedule III - Consolidated Real Estate and Accumulated Depreciation | 12 Months Ended |
Dec. 31, 2022 | |
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract] | |
Consolidated Real Estate and Accumulated Depreciation | Initial Cost Total Cost Net Cost Shopping Centers (1) Land & Land Building & Cost (2) Land & Land Building & Total Accumulated Net of Mortgages 101 7th Avenue $ 48,340 34,895 ( 57,260 ) 15,378 10,597 25,975 ( 1,550 ) 24,425 — 1175 Third Avenue 40,560 25,617 33 40,560 25,650 66,210 ( 4,361 ) 61,849 — 1225-1239 Second Ave 23,033 17,173 ( 33 ) 23,033 17,140 40,173 ( 3,112 ) 37,061 — 200 Potrero 4,860 2,251 135 4,860 2,386 7,246 ( 450 ) 6,796 — 22 Crescent Road 2,198 272 ( 318 ) 2,152 — 2,152 — 2,152 — 4S Commons Town Center 30,760 35,830 1,743 30,812 37,521 68,333 ( 29,841 ) 38,492 ( 80,812 ) 6401 Roosevelt 2,685 934 193 2,685 1,127 3,812 ( 88 ) 3,724 — 90 - 30 Metropolitan Avenue 16,614 24,171 271 16,614 24,442 41,056 ( 4,272 ) 36,784 — 91 Danbury Road 732 851 46 732 897 1,629 ( 205 ) 1,424 — Alafaya Village 3,004 5,852 215 3,004 6,067 9,071 ( 1,188 ) 7,883 — Alden Bridge 17,014 21,958 597 17,014 22,555 39,569 ( 1,436 ) 38,133 ( 26,000 ) Amerige Heights Town Center 10,109 11,288 1,211 10,109 12,499 22,608 ( 6,361 ) 16,247 — Anastasia Plaza 9,065 — 1,025 3,338 6,752 10,090 ( 3,587 ) 6,503 — Apple Valley Square 5,438 21,328 ( 56 ) 5,382 21,328 26,710 ( 1,196 ) 25,514 — Ashford Place 2,584 9,865 1,126 2,584 10,991 13,575 ( 9,016 ) 4,559 — Atlantic Village 4,282 18,827 2,093 4,868 20,334 25,202 ( 5,198 ) 20,004 — Aventura Shopping Center 2,751 10,459 11,129 9,486 14,853 24,339 ( 4,497 ) 19,842 — Aventura Square 88,098 20,771 1,799 89,657 21,011 110,668 ( 4,541 ) 106,127 ( 2,340 ) Baederwood Shopping Center 12,016 33,556 323 12,016 33,879 45,895 ( 859 ) 45,036 ( 24,365 ) Balboa Mesa Shopping Center 23,074 33,838 14,057 27,758 43,211 70,969 ( 19,638 ) 51,331 — Banco Popular Building 2,160 1,137 ( 1,294 ) 2,003 — 2,003 — 2,003 — Belleview Square 8,132 9,756 3,942 8,323 13,507 21,830 ( 10,116 ) 11,714 — Belmont Chase 13,881 17,193 ( 368 ) 14,372 16,334 30,706 ( 8,092 ) 22,614 — Berkshire Commons 2,295 9,551 2,957 2,965 11,838 14,803 ( 9,463 ) 5,340 — Bethany Park Place 4,832 12,405 166 4,832 12,571 17,403 ( 835 ) 16,568 ( 10,200 ) Bird 107 Plaza 10,371 5,136 56 10,371 5,192 15,563 ( 1,241 ) 14,322 — Bird Ludlam 42,663 38,481 935 42,663 39,416 82,079 ( 8,188 ) 73,891 — Black Rock 22,251 20,815 497 22,251 21,312 43,563 ( 6,766 ) 36,797 ( 18,637 ) Blakeney Town Center (fka Blakeney Shopping Center) 82,411 89,165 1,431 82,411 90,596 173,007 ( 4,278 ) 168,729 — Bloomingdale Square 3,940 14,912 22,981 8,639 33,194 41,833 ( 12,435 ) 29,398 — Blossom Valley 31,988 5,850 767 31,988 6,617 38,605 ( 515 ) 38,090 ( 22,300 ) Boca Village Square 43,888 9,726 274 43,888 10,000 53,888 ( 2,903 ) 50,985 — Boulevard Center 3,659 10,787 3,001 3,659 13,788 17,447 ( 9,205 ) 8,242 — Boynton Lakes Plaza 2,628 11,236 5,203 3,606 15,461 19,067 ( 9,494 ) 9,573 — Boynton Plaza 12,879 20,713 280 12,879 20,993 33,872 ( 4,581 ) 29,291 — Brentwood Plaza 2,788 3,473 357 2,788 3,830 6,618 ( 1,897 ) 4,721 — Briarcliff La Vista 694 3,292 600 694 3,892 4,586 ( 3,407 ) 1,179 — Briarcliff Village 4,597 24,836 5,750 5,519 29,664 35,183 ( 21,385 ) 13,798 — Brick Walk 25,299 41,995 2,071 25,299 44,066 69,365 ( 12,220 ) 57,145 ( 31,131 ) BridgeMill Market 7,521 13,306 969 7,522 14,274 21,796 ( 3,693 ) 18,103 — Bridgeton 3,033 8,137 621 3,067 8,724 11,791 ( 3,743 ) 8,048 — Initial Cost Total Cost Net Cost Shopping Centers (1) Land & Land Building & Cost (2) Land & Land Building & Total Accumulated Net of Mortgages Brighten Park 3,983 18,687 11,395 4,234 29,831 34,065 ( 21,759 ) 12,306 — Broadway Plaza 40,723 42,170 2,100 40,723 44,270 84,993 ( 9,024 ) 75,969 — Brooklyn Station on Riverside 7,019 8,688 283 6,998 8,992 15,990 ( 3,053 ) 12,937 — Brookside Plaza 35,161 17,494 6,104 36,163 22,596 58,759 ( 6,220 ) 52,539 — Buckhead Court 1,417 7,432 4,422 1,417 11,854 13,271 ( 9,809 ) 3,462 — Buckhead Landing 45,502 16,642 103 45,502 16,745 62,247 ( 6,221 ) 56,026 — Buckhead Station 70,411 36,518 2,094 70,448 38,575 109,023 ( 10,036 ) 98,987 — Buckley Square 2,970 5,978 1,402 2,970 7,380 10,350 ( 4,999 ) 5,351 — Caligo Crossing 2,459 4,897 148 2,546 4,958 7,504 ( 3,993 ) 3,511 — Cambridge Square 774 4,347 605 774 4,952 5,726 ( 3,437 ) 2,289 — Carmel Commons 2,466 12,548 5,206 3,422 16,798 20,220 ( 11,975 ) 8,245 — Carriage Gate 833 4,974 3,224 1,302 7,729 9,031 ( 7,203 ) 1,828 — Carytown Exchange 23,720 19,270 ( 53 ) 23,721 19,216 42,937 ( 2,641 ) 40,296 — Cashmere Corners 3,187 9,397 647 3,187 10,044 13,231 ( 2,638 ) 10,593 — Cedar Commons 4,704 16,748 54 4,704 16,802 21,506 ( 728 ) 20,778 — Centerplace of Greeley III 6,661 11,502 1,295 5,694 13,764 19,458 ( 7,161 ) 12,297 — Charlotte Square 1,141 6,845 1,008 1,141 7,853 8,994 ( 2,308 ) 6,686 — Chasewood Plaza 4,612 20,829 5,603 6,886 24,158 31,044 ( 20,840 ) 10,204 — Chastain Square 30,074 12,644 2,307 30,074 14,951 45,025 ( 4,491 ) 40,534 — Cherry Grove 3,533 15,862 5,080 3,533 20,942 24,475 ( 13,651 ) 10,824 — Chimney Rock 23,623 48,200 440 23,623 48,640 72,263 ( 15,623 ) 56,640 — Circle Center West 22,930 9,028 183 22,930 9,211 32,141 ( 2,140 ) 30,001 — Circle Marina Center 29,303 18,437 153 29,303 18,590 47,893 ( 2,210 ) 45,683 ( 24,000 ) CityLine Market 12,208 15,839 341 12,306 16,082 28,388 ( 5,640 ) 22,748 — CityLine Market Phase II 2,744 3,081 104 2,744 3,185 5,929 ( 997 ) 4,932 — Clayton Valley Shopping Center 24,189 35,422 2,248 24,538 37,321 61,859 ( 29,371 ) 32,488 — Clocktower Plaza Shopping Ctr 49,630 19,624 702 49,630 20,326 69,956 ( 4,310 ) 65,646 — Clybourn Commons 15,056 5,594 496 15,056 6,090 21,146 ( 2,008 ) 19,138 — Cochran's Crossing 13,154 12,315 2,549 13,154 14,864 28,018 ( 11,607 ) 16,411 — Compo Acres Shopping Center 28,627 10,395 874 28,627 11,269 39,896 ( 2,312 ) 37,584 — Concord Shopping Plaza 30,819 36,506 1,616 31,272 37,669 68,941 ( 7,356 ) 61,585 — Copps Hill Plaza 29,515 40,673 2,411 29,514 43,085 72,599 ( 7,436 ) 65,163 ( 8,962 ) Coral Reef Shopping Center 14,922 15,200 2,441 15,332 17,231 32,563 ( 3,981 ) 28,582 — Corkscrew Village 8,407 8,004 851 8,407 8,855 17,262 ( 4,397 ) 12,865 — Cornerstone Square 1,772 6,944 1,678 1,772 8,622 10,394 ( 6,862 ) 3,532 — Corral Hollow 8,887 24,121 39 8,887 24,160 33,047 ( 706 ) 32,341 — Corvallis Market Center 6,674 12,244 472 6,696 12,694 19,390 ( 7,892 ) 11,498 — Country Walk Plaza 18,713 20,373 194 18,713 20,567 39,280 ( 2,143 ) 37,137 ( 16,000 ) Countryside Shops 17,982 35,574 13,718 23,175 44,099 67,274 ( 12,190 ) 55,084 — Courtyard Shopping Center 5,867 4 3 5,867 7 5,874 ( 3 ) 5,871 — Culver Center 108,841 32,308 2,329 108,841 34,637 143,478 ( 7,932 ) 135,546 — Initial Cost Total Cost Net Cost Shopping Centers (1) Land & Land Building & Cost (2) Land & Land Building & Total Accumulated Net of Mortgages Danbury Green 30,303 19,255 1,038 30,303 20,293 50,596 ( 4,172 ) 46,424 — Dardenne Crossing 4,194 4,005 727 4,343 4,583 8,926 ( 2,563 ) 6,363 — Darinor Plaza 693 32,140 1,236 711 33,358 34,069 ( 7,099 ) 26,970 — Diablo Plaza 5,300 8,181 2,499 5,300 10,680 15,980 ( 6,750 ) 9,230 — Dunwoody Hall 15,145 12,110 189 15,145 12,299 27,444 ( 700 ) 26,744 ( 13,800 ) Dunwoody Village 3,342 15,934 6,409 3,342 22,343 25,685 ( 17,574 ) 8,111 — East Meadow 12,325 21,378 91 12,267 21,527 33,794 ( 946 ) 32,848 — East Meadow Plaza 13,135 25,070 ( 29 ) 13,135 25,041 38,176 ( 380 ) 37,796 — East Pointe 1,730 7,189 2,607 1,941 9,585 11,526 ( 7,081 ) 4,445 — East San Marco 4,517 13,528 — 4,517 13,528 18,045 ( 357 ) 17,688 — Eastport 2,985 5,649 ( 32 ) 2,925 5,677 8,602 ( 282 ) 8,320 — El Camino Shopping Center 7,600 11,538 15,334 10,328 24,144 34,472 ( 12,157 ) 22,315 — El Cerrito Plaza 11,025 27,371 3,570 11,025 30,941 41,966 ( 14,632 ) 27,334 — El Norte Pkwy Plaza 2,834 7,370 3,000 3,263 9,941 13,204 ( 6,644 ) 6,560 — Encina Grande 5,040 11,572 20,175 10,518 26,269 36,787 ( 16,314 ) 20,473 — Fairfield Center 6,731 29,420 1,550 6,731 30,970 37,701 ( 8,265 ) 29,436 — Falcon Marketplace 1,340 4,168 487 1,246 4,749 5,995 ( 3,136 ) 2,859 — Fellsway Plaza 30,712 7,327 9,963 34,923 13,079 48,002 ( 8,109 ) 39,893 ( 35,446 ) Fenton Marketplace 2,298 8,510 ( 7,934 ) 512 2,362 2,874 ( 1,336 ) 1,538 — Fleming Island 3,077 11,587 3,380 3,111 14,933 18,044 ( 9,610 ) 8,434 — Fountain Square 29,722 29,041 ( 183 ) 29,784 28,796 58,580 ( 12,810 ) 45,770 — French Valley Village Center 11,924 16,856 554 11,822 17,512 29,334 ( 15,494 ) 13,840 — Friars Mission Center 6,660 28,021 2,541 6,660 30,562 37,222 ( 18,551 ) 18,671 — Gardens Square 2,136 8,273 769 2,136 9,042 11,178 ( 5,974 ) 5,204 — Gateway Shopping Center 52,665 7,134 12,097 55,087 16,809 71,896 ( 19,483 ) 52,413 — Gelson's Westlake Market Plaza 3,157 11,153 5,942 4,654 15,598 20,252 ( 9,632 ) 10,620 — Glen Oak Plaza 4,103 12,951 1,564 4,124 14,494 18,618 ( 5,568 ) 13,050 — Glengary Shoppes 9,120 11,541 1,010 9,120 12,551 21,671 ( 3,076 ) 18,595 — Glenwood Village 1,194 5,381 428 1,194 5,809 7,003 ( 4,906 ) 2,097 — Golden Hills Plaza 12,699 18,482 3,718 11,521 23,378 34,899 ( 12,797 ) 22,102 — Grand Ridge Plaza 24,208 61,033 5,886 24,918 66,209 91,127 ( 29,671 ) 61,456 — Greenwood Shopping Centre 7,777 24,829 975 7,777 25,804 33,581 ( 5,936 ) 27,645 — Hammocks Town Center 28,764 25,113 1,337 28,764 26,450 55,214 ( 6,132 ) 49,082 — Hancock 8,232 28,260 ( 12,901 ) 4,692 18,899 23,591 ( 11,890 ) 11,701 — Harpeth Village Fieldstone 2,284 9,443 807 2,284 10,250 12,534 ( 6,472 ) 6,062 — Hasley Canyon Village 17,630 8,231 16 17,630 8,247 25,877 ( 540 ) 25,337 ( 16,000 ) Heritage Plaza 12,390 26,097 14,665 12,215 40,937 53,152 ( 21,674 ) 31,478 — Hershey 7 808 11 7 819 826 ( 567 ) 259 — Hewlett Crossing I & II 11,850 18,205 821 11,850 19,026 30,876 ( 3,166 ) 27,710 ( 8,879 ) Hibernia Pavilion 4,929 5,065 239 4,929 5,304 10,233 ( 4,242 ) 5,991 — Hillcrest Village 1,600 1,909 51 1,600 1,960 3,560 ( 1,196 ) 2,364 — Initial Cost Total Cost Net Cost Shopping Centers (1) Land & Land Building & Cost (2) Land & Land Building & Total Accumulated Net of Mortgages Hilltop Village 2,995 4,581 4,354 3,104 8,826 11,930 ( 4,705 ) 7,225 — Hinsdale Lake Commons (fka Hinsdale) 5,734 16,709 11,805 8,343 25,905 34,248 ( 17,075 ) 17,173 — Holly Park 8,975 23,799 2,274 8,828 26,220 35,048 ( 8,282 ) 26,766 — Howell Mill Village 5,157 14,279 7,444 9,610 17,270 26,880 ( 8,580 ) 18,300 — Hyde Park 9,809 39,905 7,299 9,809 47,204 57,013 ( 30,450 ) 26,563 — Indian Springs Center 24,974 25,903 1,143 25,050 26,970 52,020 ( 8,011 ) 44,009 — Indigo Square 8,087 9,849 ( 4 ) 8,087 9,845 17,932 ( 2,336 ) 15,596 — Inglewood Plaza 1,300 2,159 946 1,300 3,105 4,405 ( 1,928 ) 2,477 — Island Village 12,354 23,660 171 12,361 23,824 36,185 ( 724 ) 35,461 — Keller Town Center 2,294 12,841 816 2,404 13,547 15,951 ( 7,842 ) 8,109 — Kirkman Shoppes 9,364 26,243 693 9,367 26,933 36,300 ( 5,742 ) 30,558 — Kirkwood Commons 6,772 16,224 1,384 6,802 17,578 24,380 ( 6,661 ) 17,719 — Klahanie Shopping Center 14,451 20,089 408 14,451 20,497 34,948 ( 4,608 ) 30,340 — Kroger New Albany Center 3,844 6,599 1,392 3,844 7,991 11,835 ( 6,528 ) 5,307 — Lake Mary Centre 24,036 57,476 2,507 24,036 59,983 84,019 ( 14,241 ) 69,778 — Lake Pine Plaza 2,008 7,632 1,137 2,029 8,748 10,777 ( 5,546 ) 5,231 — Lebanon/Legacy Center 3,913 7,874 1,179 3,913 9,053 12,966 ( 6,923 ) 6,043 — Littleton Square 2,030 8,859 ( 3,527 ) 2,433 4,929 7,362 ( 3,197 ) 4,165 — Lloyd King Center 1,779 10,060 1,651 1,779 11,711 13,490 ( 7,454 ) 6,036 — Lower Nazareth Commons 15,992 12,964 4,099 16,343 16,712 33,055 ( 13,077 ) 19,978 — Mandarin Landing 7,913 27,230 671 7,913 27,901 35,814 ( 7,095 ) 28,719 — Market at Colonnade Center 6,455 9,839 184 6,160 10,318 16,478 ( 5,678 ) 10,800 — Market at Preston Forest 4,400 11,445 1,867 4,400 13,312 17,712 ( 8,446 ) 9,266 — Market at Round Rock 2,000 9,676 8,650 1,996 18,330 20,326 ( 11,494 ) 8,832 — Market at Springwoods Village 12,592 12,781 76 12,592 12,857 25,449 ( 4,302 ) 21,147 ( 4,250 ) Marketplace at Briargate 1,706 4,885 347 1,727 5,211 6,938 ( 3,406 ) 3,532 — Mellody Farm 35,628 66,847 ( 458 ) 35,628 66,389 102,017 ( 14,087 ) 87,930 — Melrose Market 4,451 10,807 ( 74 ) 4,451 10,733 15,184 ( 1,818 ) 13,366 — Millhopper Shopping Center 1,073 5,358 5,920 1,901 10,450 12,351 ( 8,007 ) 4,344 — Mockingbird Commons 3,000 10,728 3,026 3,000 13,754 16,754 ( 8,214 ) 8,540 — Monument Jackson Creek 2,999 6,765 1,321 2,999 8,086 11,085 ( 6,426 ) 4,659 — Morningside Plaza 4,300 13,951 969 4,300 14,920 19,220 ( 9,276 ) 9,944 — Murrayhill Marketplace 2,670 18,401 14,396 2,903 32,564 35,467 ( 18,563 ) 16,904 — Naples Walk 18,173 13,554 2,264 18,173 15,818 33,991 ( 8,109 ) 25,882 — Newberry Square 2,412 10,150 1,338 2,412 11,488 13,900 ( 9,815 ) 4,085 — Newland Center 12,500 10,697 8,721 16,276 15,642 31,918 ( 11,114 ) 20,804 — Nocatee Town Center 10,124 8,691 8,629 11,045 16,399 27,444 ( 9,765 ) 17,679 — North Hills 4,900 19,774 4,342 4,900 24,116 29,016 ( 14,104 ) 14,912 — Northgate Marketplace 5,668 13,727 ( 51 ) 4,995 14,349 19,344 ( 7,629 ) 11,715 — Northgate Marketplace Ph II 12,189 30,171 133 12,189 30,304 42,493 ( 9,159 ) 33,334 — Northgate Plaza (Maxtown Road) 1,769 6,652 4,973 2,840 10,554 13,394 ( 6,739 ) 6,655 — Initial Cost Total Cost Net Cost Shopping Centers (1) Land & Land Building & Cost (2) Land & Land Building & Total Accumulated Net of Mortgages Northgate Square 5,011 8,692 1,126 5,011 9,818 14,829 ( 5,269 ) 9,560 — Northlake Village 2,662 11,284 5,433 2,662 16,717 19,379 ( 6,970 ) 12,409 — Oakshade Town Center 6,591 28,966 915 6,591 29,881 36,472 ( 12,266 ) 24,206 ( 4,869 ) Oakbrook Plaza 4,000 6,668 6,038 4,766 11,940 16,706 ( 6,362 ) 10,344 — Oakleaf Commons 3,503 11,671 1,811 3,190 13,795 16,985 ( 8,550 ) 8,435 — Ocala Corners 1,816 10,515 611 1,816 11,126 12,942 ( 5,686 ) 7,256 — Old St Augustine Plaza 2,368 11,405 13,513 3,455 23,831 27,286 ( 11,850 ) 15,436 — Pablo Plaza 11,894 21,407 11,347 14,135 30,513 44,648 ( 7,846 ) 36,802 — Paces Ferry Plaza 2,812 12,639 20,927 13,803 22,575 36,378 ( 13,670 ) 22,708 — Panther Creek 14,414 14,748 6,002 15,212 19,952 35,164 ( 15,633 ) 19,531 — Pavillion 15,626 22,124 1,079 15,626 23,203 38,829 ( 5,971 ) 32,858 — Peartree Village 5,197 19,746 890 5,197 20,636 25,833 ( 14,605 ) 11,228 — Persimmon Place 25,975 38,114 623 26,692 38,020 64,712 ( 15,824 ) 48,888 — Pike Creek 5,153 20,652 7,238 5,850 27,193 33,043 ( 15,288 ) 17,755 — Pine Island 21,086 28,123 3,778 21,086 31,901 52,987 ( 8,835 ) 44,152 — Pine Lake Village 6,300 10,991 1,835 6,300 12,826 19,126 ( 7,989 ) 11,137 — Pine Ridge Square 13,951 23,147 1,129 13,951 24,276 38,227 ( 5,550 ) 32,677 — Pine Tree Plaza 668 6,220 980 668 7,200 7,868 ( 4,385 ) 3,483 — Pinecrest Place 4,193 13,275 ( 189 ) 3,992 13,287 17,279 ( 2,943 ) 14,336 — Plaza Escuela 24,829 104,395 3,446 24,829 107,841 132,670 ( 17,147 ) 115,523 — Plaza Hermosa 4,200 10,109 3,610 4,202 13,717 17,919 ( 8,598 ) 9,321 — Point 50 15,239 11,367 328 14,628 12,306 26,934 ( 1,468 ) 25,466 — Point Royale Shopping Center 18,201 14,889 6,614 19,386 20,318 39,704 ( 6,474 ) 33,230 — Post Road Plaza 15,240 5,196 176 15,240 5,372 20,612 ( 1,204 ) 19,408 — Potrero Center 133,422 116,758 ( 88,642 ) 85,205 76,333 161,538 ( 13,169 ) 148,369 — Powell Street Plaza 8,248 30,716 3,728 8,248 34,444 42,692 ( 18,905 ) 23,787 — Powers Ferry Square 3,687 17,965 10,011 5,758 25,905 31,663 ( 21,120 ) 10,543 — Powers Ferry Village 1,191 4,672 501 1,191 5,173 6,364 ( 4,206 ) 2,158 — Prairie City Crossing 4,164 13,032 504 4,164 13,536 17,700 ( 7,411 ) 10,289 — Preston Oaks 763 30,438 ( 899 ) 1,505 28,797 30,302 ( 4,255 ) 26,047 — Prestonbrook 7,069 8,622 1,181 7,069 9,803 16,872 ( 7,867 ) 9,005 — Prosperity Centre 11,682 26,215 765 11,681 26,981 38,662 ( 5,582 ) 33,080 — Ralphs Circle Center 20,939 6,317 147 20,939 6,464 27,403 ( 1,784 ) 25,619 — Red Bank Village 10,336 9,500 1,192 9,755 11,273 21,028 ( 4,539 ) 16,489 — Regency Commons 3,917 3,616 347 3,917 3,963 7,880 ( 2,947 ) 4,933 — Regency Square 4,770 25,191 6,581 5,060 31,482 36,542 ( 26,489 ) 10,053 — Rivertowns Square 15,505 52,505 3,201 16,853 54,358 71,211 ( 8,303 ) 62,908 — Rona Plaza 1,500 4,917 331 1,500 5,248 6,748 ( 3,501 ) 3,247 — Roosevelt Square 40,371 32,108 7,523 40,382 39,620 80,002 ( 5,539 ) 74,463 — Russell Ridge 2,234 6,903 1,503 2,234 8,406 10,640 ( 6,019 ) 4,621 — Ryanwood Square 10,581 10,044 332 10,581 10,376 20,957 ( 3,013 ) 17,944 — Initial Cost Total Cost Net Cost Shopping Centers (1) Land & Land Building & Cost (2) Land & Land Building & Total Accumulated Net of Mortgages Sammamish-Highlands 9,300 8,075 8,756 9,592 16,539 26,131 ( 11,463 ) 14,668 — San Carlos Marketplace 36,006 57,886 416 36,006 58,302 94,308 ( 10,008 ) 84,300 — San Leandro Plaza 1,300 8,226 975 1,300 9,201 10,501 ( 5,666 ) 4,835 — Sandy Springs 6,889 28,056 4,352 6,889 32,408 39,297 ( 11,213 ) 28,084 — Sawgrass Promenade 10,846 12,525 666 10,846 13,191 24,037 ( 3,334 ) 20,703 — Scripps Ranch Marketplace 59,949 26,334 881 59,949 27,215 87,164 ( 5,065 ) 82,099 — Serramonte Center 390,106 172,652 91,745 416,378 238,125 654,503 ( 64,161 ) 590,342 — Shaw's at Plymouth 3,968 8,367 — 3,968 8,367 12,335 ( 2,118 ) 10,217 — Sheridan Plaza 82,260 97,273 15,030 83,483 111,080 194,563 ( 21,348 ) 173,215 — Sherwood Crossroads 2,731 6,360 969 2,454 7,606 10,060 ( 4,218 ) 5,842 — Shiloh Springs 5,236 11,802 340 5,236 12,142 17,378 ( 857 ) 16,521 — Shoppes 104 11,193 — 2,784 7,078 6,899 13,977 ( 3,783 ) 10,194 — Shoppes at Homestead 5,420 9,450 2,250 5,420 11,700 17,120 ( 7,406 ) 9,714 — Shoppes at Lago Mar 8,323 11,347 205 8,323 11,552 19,875 ( 2,952 ) 16,923 — Shoppes at Sunlake Centre 16,643 15,091 3,049 17,247 17,536 34,783 ( 4,826 ) 29,957 — Shoppes of Grande Oak 5,091 5,985 714 5,091 6,699 11,790 ( 5,849 ) 5,941 — Shoppes of Jonathan's Landing 4,474 5,628 452 4,474 6,080 10,554 ( 1,464 ) 9,090 — Shoppes of Oakbrook 20,538 42,992 336 20,538 43,328 63,866 ( 8,722 ) 55,144 ( 410 ) Shoppes of Silver Lakes 17,529 21,829 1,203 17,529 23,032 40,561 ( 5,645 ) 34,916 — Shoppes of Sunset 2,860 1,316 595 2,860 1,911 4,771 ( 375 ) 4,396 — Shoppes of Sunset II 2,834 715 556 2,834 1,271 4,105 ( 296 ) 3,809 — Shops at County Center 9,957 11,296 2,057 9,973 13,337 23,310 ( 11,645 ) 11,665 — Shops at Erwin Mill 9,082 6,124 540 9,087 6,659 15,746 ( 3,940 ) 11,806 ( 10,000 ) Shops at John's Creek 1,863 2,014 ( 84 ) 1,501 2,292 3,793 ( 1,617 ) 2,176 — Shops at Mira Vista 11,691 9,026 299 11,691 9,325 21,016 ( 3,171 ) 17,845 ( 179 ) Shops at Quail Creek 1,487 7,717 1,351 1,448 9,107 10,555 ( 4,799 ) 5,756 — Shops at Saugus 19,201 17,984 375 18,811 18,749 37,560 ( 13,100 ) 24,460 — Shops at Skylake 84,586 39,342 2,221 85,117 41,032 126,149 ( 10,755 ) 115,394 — Shops at The Columbia 3,117 8,869 — 3,117 8,869 11,986 ( 293 ) 11,693 — Shops on Main 17,020 27,055 16,180 18,534 41,721 60,255 ( 16,276 ) 43,979 — Sope Creek Crossing 2,985 12,001 3,477 3,332 15,131 18,463 ( 10,243 ) 8,220 — South Beach Regional 28,188 53,405 1,296 28,188 54,701 82,889 ( 12,254 ) 70,635 — South Point 6,563 7,939 368 6,563 8,307 14,870 ( 2,063 ) 12,807 — Southbury Green 26,661 34,325 6,603 29,743 37,846 67,589 ( 8,206 ) 59,383 — Southcenter 1,300 12,750 2,300 1,300 15,050 16,350 ( 9,452 ) 6,898 — Southpark at Cinco Ranch 18,395 11,306 7,482 21,438 15,745 37,183 ( 9,122 ) 28,061 — SouthPoint Crossing 4,412 12,235 1,416 4,382 13,681 18,063 ( 8,443 ) 9,620 — Starke 71 1,683 12 71 1,695 1,766 ( 943 ) 823 — Star's at Cambridge 31,082 13,520 ( 1 ) 31,082 13,519 44,601 ( 2,925 ) 41,676 — Star's at Quincy 27,003 9,425 1 27,003 9,426 36,429 ( 2,638 ) 33,791 — Star's at West Roxbury 21,973 13,386 76 21,973 13,462 35,435 ( 2,884 ) 32,551 — Initial Cost Total Cost Net Cost Shopping Centers (1) Land & Land Building & Cost (2) Land & Land Building & Total Accumulated Net of Mortgages Sterling Ridge 12,846 12,162 1,546 12,846 13,708 26,554 ( 11,002 ) 15,552 — Stroh Ranch 4,280 8,189 1,108 4,280 9,297 13,577 ( 7,277 ) 6,300 — Suncoast Crossing 9,030 10,764 4,533 13,374 10,953 24,327 ( 9,079 ) 15,248 — Talega Village Center 22,415 12,054 80 22,415 12,134 34,549 ( 2,539 ) 32,010 — Tamarac Town Square 12,584 9,221 1,407 12,584 10,628 23,212 ( 2,738 ) 20,474 — Tanasbourne Market 3,269 10,861 ( 294 ) 3,149 10,687 13,836 ( 6,776 ) 7,060 — Tassajara Crossing 8,560 15,464 2,416 8,560 17,880 26,440 ( 10,680 ) 15,760 — Tech Ridge Center 12,945 37,169 4,099 13,589 40,624 54,213 ( 18,146 ) 36,067 ( 715 ) The Abbot 72,910 6,086 47,165 79,187 46,974 126,161 ( 867 ) 125,294 — The Crossing Clarendon 154,932 126,328 34,127 157,814 157,573 315,387 ( 26,426 ) 288,961 — The Field at Commonwealth 30,955 18,242 5 30,956 18,246 49,202 ( 7,338 ) 41,864 — The Gallery at Westbury Plaza 108,653 216,771 3,903 108,653 220,674 329,327 ( 41,384 ) 287,943 — The Hub Hillcrest Market 18,773 61,906 6,531 19,611 67,599 87,210 ( 20,874 ) 66,336 — The Marketplace 10,927 36,052 957 10,927 37,009 47,936 ( 7,104 ) 40,832 — The Plaza at St. Lucie West 1,718 6,204 26 1,718 6,230 7,948 ( 1,303 ) 6,645 — The Point at Garden City Park 741 9,764 5,871 2,559 13,817 16,376 ( 4,474 ) 11,902 — The Pruneyard 112,136 86,918 2,162 112,136 89,080 201,216 ( 11,275 ) 189,941 ( 2,200 ) The Shops at Hampton Oaks 843 372 120 737 598 1,335 ( 183 ) 1,152 — The Village at Hunter's Lake 9,735 12,923 16 9,735 12,939 22,674 ( 2,079 ) 20,595 — The Village at Riverstone 17,179 13,013 ( 73 ) 17,179 12,940 30,119 ( 3,118 ) 27,001 — Town and Country 4,664 5,207 22 4,664 5,229 9,893 ( 1,836 ) 8,057 — Town Square 883 8,132 270 883 8,402 9,285 ( 5,386 ) 3,899 — Treasure Coast Plaza 7,553 21,554 1,127 7,553 22,681 30,234 ( 5,120 ) 25,114 ( 1,166 ) Tustin Legacy 13,829 23,922 ( 3 ) 13,828 23,920 37,748 ( 6,190 ) 31,558 — Twin City Plaza 17,245 44,225 2,612 17,263 46,819 64,082 ( 21,174 ) 42,908 — Twin Peaks 5,200 25,827 9,483 6,557 33,953 40,510 ( 17,764 ) 22,746 — Unigold Shopping Center 5,490 5,144 6,637 5,561 11,710 17,271 ( 4,807 ) 12,464 — University Commons 4,070 30,785 588 4,070 31,373 35,443 ( 9,142 ) 26,301 — Valencia Crossroads 17,921 17,659 1,178 17,921 18,837 36,758 ( 17,231 ) 19,527 — Valley Stream 13,297 16,241 573 13,887 16,224 30,111 ( 713 ) 29,398 — Village at La Floresta 13,140 20,559 ( 303 ) 13,156 20,240 33,396 ( 7,629 ) 25,767 — Village at Lee Airpark 11,099 12,975 3,532 11,803 15,803 27,606 ( 13,669 ) 13,937 — Village Center 3,885 14,131 9,610 5,480 22,146 27,626 ( 12,613 ) 15,013 — Von's Circle Center 49,037 22,618 895 49,037 23,513 72,550 ( 5,236 ) 67,314 ( 5,031 ) Wading River 14,969 18,641 ( 260 ) 14,915 18,435 33,350 ( 718 ) 32,632 — Walker Center 3,840 7,232 4,039 3,878 11,233 15,111 ( 8,273 ) 6,838 — Walmart Norwalk 20,394 21,261 9 20,394 21,270 41,664 ( 5,443 ) 36,221 — Waterstone Plaza 5,498 13,500 62 5,498 13,562 19,060 ( 3,040 ) 16,020 — Welleby Plaza 1,496 7,787 2,140 1,496 9,927 11,423 ( 8,702 ) 2,721 — Wellington Town Square 2,041 12,131 2,707 2,600 14,279 16,879 ( 7,451 ) 9,428 — West Bird Plaza 12,934 18,594 331 15,386 16,473 31,859 ( 2,950 ) 28,909 — Initial Cost Total Cost Net Cost Shopping Centers (1) Land & Land Building & Cost (2) Land & Land Building & Total Accumulated Net of Mortgages West Chester Plaza 1,857 7,572 678 1,857 8,250 10,107 ( 6,706 ) 3,401 — West Lake Shopping Center 10,561 9,792 239 10,561 10,031 20,592 ( 2,773 ) 17,819 — West Park Plaza 5,840 5,759 2,892 5,840 8,651 14,491 ( 5,236 ) 9,255 — Westbard Square 127,859 21,514 ( 18,733 ) 117,732 12,908 130,640 ( 11,941 ) 118,699 — Westbury Plaza 116,129 51,460 6,005 117,559 56,035 173,594 ( 12,517 ) 161,077 ( 88,000 ) Westchase 5,302 8,273 1,127 5,302 9,400 14,702 ( 4,675 ) 10,027 — Westchester Commons 3,366 11,751 11,062 4,894 21,285 26,179 ( 10,450 ) 15,729 — Westlake Village Plaza and Center 7,043 27,195 30,533 17,620 47,151 64,771 ( 33,500 ) 31,271 — Westport Plaza 9,035 7,455 ( 40 ) 9,035 7,415 16,450 ( 1,947 ) 14,503 ( 1,457 ) Westport Row 43,597 16,428 6,349 45,260 21,114 66,374 ( 5,505 ) 60,869 — Westwood Village 19,933 25,301 ( 1,626 ) 18,979 24,629 43,608 ( 17,551 ) 26,057 — Willa Springs 13,322 15,314 177 13,322 15,491 28,813 ( 809 ) 28,004 ( 16,700 ) Williamsburg at Dunwoody 7,435 3,721 974 7,444 4,686 12,130 ( 1,506 ) 10,624 — Willow Festival 1,954 56,501 3,478 1,976 59,957 61,933 ( 21,751 ) 40,182 — Willow Oaks 6,664 7,908 ( 343 ) 6,294 7,935 14,229 ( 3,518 ) 10,711 — Willows Shopping Center 51,964 78,029 2,358 51,992 80,359 132,351 ( 15,214 ) 117,137 — Woodcroft Shopping Center 1,419 6,284 1,617 1,421 7,899 9,320 ( 5,547 ) 3,773 — Woodman Van Nuys 5,500 7,195 383 5,500 7,578 13,078 ( 4,628 ) 8,450 — Woodmen Plaza 7,621 11,018 1,330 7,621 12,348 19,969 ( 12,043 ) 7,926 — Woodside Central 3,500 9,288 691 3,489 9,990 13,479 ( 6,203 ) 7,276 — Corporate Assets — — 1,325 — 1,325 1,325 ( 1,325 ) — — Land held for future development 11,349 — ( 4,615 ) 6,734 — 6,734 — 6,734 — Construction in progress — — 133,433 — 133,433 133,433 — 133,433 — $ 5,041,114 5,911,477 905,473 5,087,104 6,770,960 11,858,064 ( 2,415,860 ) 9,442,204 ( 473,849 ) (1) See "Item 2 - Properties " of this Report, for geographic location and year each operating property was acquired. (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 $ 9.7 billion at December 31, 2022. The changes in total real estate assets for the years ended December 31, 2022, 2021, and 2020 are as follows: (in thousands) 2022 2021 2020 Beginning balance $ 11,495,581 11,101,858 11,095,294 Acquired properties and land 224,653 479,708 39,087 Developments and improvements 171,629 172,012 154,657 Disposal of building and tenant improvements ( 29,523 ) ( 10,898 ) ( 35,034 ) Sale of properties ( 4,276 ) ( 107,090 ) ( 95,780 ) Properties held for sale — ( 50,873 ) ( 38,122 ) Provision for impairment — ( 89,136 ) ( 18,244 ) Ending balance $ 11,858,064 11,495,581 11,101,858 The changes in accumulated depreciation for the years ended December 31, 2022, 2021, and 2020 are as follows: (in thousands) 2022 2021 2020 Beginning balance $ 2,174,963 1,994,108 1,766,162 Depreciation expense 270,520 253,437 278,861 Disposal of building and tenant improvements ( 29,523 ) ( 10,898 ) ( 35,034 ) Sale of properties ( 100 ) ( 28,715 ) ( 10,812 ) Accumulated depreciation related to properties held for sale — ( 28,110 ) ( 4,357 ) Provision for impairment — ( 4,859 ) ( 712 ) Ending balance $ 2,415,860 2,174,963 1,994,108 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, 2022 | |
Accounting Policies [Abstract] | |
Organization and Principles of Consolidation | (a) Organization and Principles of Consolidation General Regency Centers Corporation (the "Parent Company") began its operations as a REIT in 1993 and is the general partner of Regency Centers, L.P. (the "Operating Partnership"). The Parent Company primarily engages in the ownership, management, leasing, acquisition, development and redevelopment of shopping centers through the Operating Partnership, and has no other assets other than through its investment in the Operating Partnership, and its only liabilities are $ 200 million of unsecured private placement notes, which are co-issued and guaranteed by the Operating Partnership. The Parent Company guarantees all of the unsecured debt of the Operating Partnership. As of December 31, 2022, the Parent Company, the Operating Partnership, and their controlled subsidiaries on a consolidated basis (the "Company" or "Regency") owned 308 properties and held partial interests in an additional 96 properties through unconsolidated Investments in real estate partnerships (also referred to as "joint ventures" or "investment partnerships"). Consolidation The accompanying Consolidated Financial Statements include the accounts of the Parent Company, the Operating Partnership, its wholly-owned subsidiaries, and consolidated partnerships in which the Company has a controlling 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 and properties where it owns less than 100%, but has control over the activities most important to the overall success of the partnership. Control is determined using an evaluation based on accounting standards related to the consolidation of Variable Interest Entities ("VIEs") and voting interest entities. For joint ventures that are determined to be a VIE, the Company consolidates the entity where it is deemed to be the primary beneficiary. Determination of the primary beneficiary is based on whether an entity has (1) the power to direct the activities of the VIE that most significantly impact the entity's economic performance, and (2) the obligation to absorb losses of the entity that could potentially be significant to the VIE or the right to receive benefits from the entity that could potentially be significant to the VIE. Ownership of the Parent Company The Parent Company has a single class of common stock outstanding. Ownership of the Operating Partnership The Operating Partnership's capital includes general and limited common Partnership Units. As of December 31, 2022, the Parent Company owned approximately 99.6 % , or 171,124,593 , of the 171,866,026 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, as it relates to exchangeable operating partnership units outstanding and concluded that it has the right to satisfy the redemption requirements of the units by delivering unregistered common stock. Accordingly, the Parent Company classifies EOP units as permanent equity in the accompanying Consolidated Balance Sheets and Consolidated Statements of Equity and Comprehensive Income. The Parent Company serves as general partner of the Operating Partnership. The EOP unit holders have limited rights over the Operating Partnership such that they do not have the power to direct the activities of the Operating Partnership. As such, the Operating Partnership is considered a VIE, and the Parent Company, which consolidates it, is the primary beneficiary. The Parent Company's only investment is the Operating Partnership. Net income and distributions of the Operating Partnership are allocable to the general and limited common Partnership Units in accordance with their ownership percentages. |
Estimates, Risks, and Uncertainties | Estimates, Risks, and Uncert ainties The preparation of the Consolidated Financial Statements in conformity with U.S. GAAP requires the Company's management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of commitments and contingent assets and liabilities, at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The most significant estimates in the Company's financial statements relate to the net carrying values of its real estate investments, collectibility of lease income, and acquired lease intangible assets and liabilities. It is possible that the estimates and assumptions that have been utilized in the preparation of the Consolidated Financial Statements could change significantly if economic conditions were to weaken. |
Real Estate Partnerships | Real Estate Partnerships Regency has a partial ownership interest in 107 properties through partnerships, of which 11 are consolidated. Regency's partners include institutional investors and other real estate developers and/or operators (the "Partners" or "Limited Partners"). 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. Regency has a variable interest in these partnerships 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. • Those partnerships for which the Partners are involved in the day to day decisions and do not have any other aspects that would cause them to be considered VIEs, are evaluated for consolidation using the voting interest model. o Those partnerships in which Regency does not have a controlling financial interest are accounted for using the equity method and Regency's ownership interest is recognized through single-line presentation as Investments in real estate partnerships, in the Consolidated Balance Sheet, and Equity in income of investments in real estate partnerships, in the Consolidated Statements of Operations. Cash distributions of earnings from operations from Investments in real estate partnerships are presented in Cash flows provided by operating activities in the accompanying Consolidated Statements of Cash Flows. Cash distributions from the sale of a property or loan proceeds received from the placement of debt on a property included in Investments in real estate partnerships are presented in Cash flows provided by investing activities in the accompanying Consolidated Statements of Cash Flows. If distributed proceeds from debt refinancing and real estate sales in excess of Regency's carrying value of its investment results in a negative investment balance for a partnership, it is recorded within Accounts payable and other liabilities in the Consolidated Balance Sheets. The net difference in the carrying amount of investments in real estate partnerships and the underlying equity in net assets is accreted to earnings and recorded in Equity in income of investments in real estate partnerships in the accompanying Consolidated Statements of Operations over the expected useful lives of the properties and other intangible assets, which range in lives from 10 to 40 years . o Those partnerships in which Regency has a controlling financial interest are consolidated. Additionally, 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. The limited partners' ownership interest and share of net income is recorded as noncontrolling interest. 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, 2022 December 31, 2021 Assets Net real estate investments $ 107,725 379,075 Cash, cash equivalents, and restricted cash 2,420 5,202 Liabilities Notes payable 4,188 5,000 Equity Limited partners’ interests in consolidated partnerships 24,364 27,950 |
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 members' interest or sell its own interest in these consolidated partnerships. The Operating Partnership has included these noncontrolling interests in permanent capital, separate from partners' capital, in the accompanying Consolidated Balance Sheets and Consolidated Statements of Capital. The portion of net income (loss) or comprehensive income (loss) attributable to these noncontrolling interests is included in Net income and Comprehensive income in the accompanying Consolidated Statements of Operations and Consolidated Statements Comprehensive Income of the Operating Partnership. |
Revenues and Tenant Receivable | (b) Revenues and Tenant Receivable Leasing Income and Tenant Receivables The Company leases space to tenants under agreements with varying terms that generally provide for fixed payments of base rent, with stated increases over the term of the lease. Some of the lease agreements contain provisions that provide for additional rents based on tenants' sales volume ("percentage rent"), which are recognized when the tenants achieve the specified targets as defined in their lease agreements. Additionally, most lease agreements contain provisions for reimbursement of the tenants' share of actual real estate taxes and insurance and common area maintenance ("CAM") costs (collectively "Recoverable Costs") incurred. Lease terms generally range from three to seven years for tenant 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 tenants the option to extend their lease beyond the initial term of the lease. If a tenant does not exercise its option or otherwise negotiate to renew, the lease expires and the lease contains an obligation for the tenant to relinquish its space, allowing it to be 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. The Company accounts for its leases under ASC Topic 842, Leases ("Topic 842"), as follows: Classification Under Topic 842, new leases or modifications thereto must be evaluated against specific classification criteria, which, based on the customary terms of the Company's leases, are classified as operating leases. However, certain longer-term leases (both lessee and lessor leases) may be classified as direct financing or sales type leases, which may result in selling profit and an accelerated pattern of earnings recognition. At December 31, 2022, all of the Company's leases were classified as operating leases. Recognition and Presentation Lease income for operating leases with fixed payment terms is recognized on a straight-line basis over the expected term of the lease for all leases for which collectibility is considered probable. CAM is considered a non-lease component of the lease contract under Topic 842. However, as the timing and pattern of providing the CAM service to the tenant is the same as the timing and pattern of the tenant's use of the underlying lease asset, the Company elected, as part of an available practical expedient, to combine CAM with the remaining lease components, along with tenant's reimbursement of real estate taxes and insurance, and recognize them together as Lease income in the accompanying Consolidated Statements of Operations. Collectibility At lease commencement, the Company generally expects that collectibility of substantially all payments due under the lease is probable due to the Company's credit checks on tenants and other creditworthiness analysis undertaken before entering into a new lease; therefore, income from most operating leases is initially recognized on a straight-line basis. For operating leases in which collectibility of Lease income is not considered probable, Lease income is recognized on a cash basis and all previously recognized straight-line rent receivables are reversed in the period in which the Lease income is determined not to be probable of collection. Should collectibility of Lease income become probable again, through evaluation of qualitative and quantitative measures on a tenant by tenant basis, accrual basis accounting resumes and all commencement-to-date straight-line rent is recognized in that period. In addition to the lease-specific collectibility assessment performed under Topic 842, the Company may also recognize a general reserve, as a reduction to Lease income, for its portfolio of operating lease receivables which are not expected to be fully collectible based on the Company's historical collection experience. The Company estimates the collectibility of the accounts receivable related to base rents, straight-line rents, recoveries from tenants, and other revenue taking into consideration the Company's historical write-off experience, tenant credit-worthiness, current economic trends, and remaining lease terms. Uncollectible lease income is a direct charge against Lease income. Although we estimate uncollectible receivables and provide for them through charges against income, actual experience may differ from those estimates. The following table represents the components of Tenant and other receivables, net of amounts considered uncollectible, in the accompanying Consolidated Balance Sheets: December 31, (in thousands) 2022 2021 Tenant receivables $ 31,486 27,354 Straight-line rent receivables 128,214 103,942 Other receivables (1) 29,163 21,795 Total tenant and other receivables, net $ 188,863 153,091 (1) Other receivables include construction receivables, insurance receivables, and amounts due from real estate partnerships for Management, transaction and other fee income. Real Estate Sales The Company accounts for sales of nonfinancial assets under ASC Subtopic 610-20, Other Income - Gains and Losses from the Derecognition of Nonfinancial Assets , whereby the Company derecognizes real estate and recognizes a gain or loss on sales when a contract exists and control of the property has transferred to the buyer. Control of the property, including controlling financial interest, is generally considered to transfer upon closing through transfer of the legal title and possession of the property. While generally rare, any retained noncontrolling interest is measured at fair value at that time. Management Services and Other Property Income The Company recognizes revenue under ASC Topic 606, Revenue from Contracts with Customers ("Topic 606") , when or as control of the promised services are transferred to its customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those services. The following is a description of the Company's revenue from contracts with customers within the scope of Topic 606. Property and Asset Management Services The Company is engaged under agreements with its joint venture partnerships, which are generally perpetual in nature and cancellable through unanimous partner approval, absent an event of default. Under these agreements, the Company is to provide asset and property management and leasing services for the joint ventures' shopping centers. The fees are market-based, generally calculated as a percentage of either revenues earned or the estimated values of the properties managed or the proceeds received, and are recognized over the monthly or quarterly periods as services are rendered. Property management and asset management services represent a series of distinct daily services. Accordingly, the Company satisfies its performance obligation as service is rendered each day and the variability associated with that compensation is resolved each day. Amounts due from the partnerships for such services are paid during the month following the monthly or quarterly service periods. Several of the Company's partnership agreements provide for incentive payments, generally referred to as "promotes" or "earnouts," to Regency for appreciation in property values in Regency's capacity as 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. Leasing Services Leasing service fees are based on a percentage of the total rent due under the lease. The leasing service is considered performed upon successful execution of an acceptable tenant lease for the joint ventures' shopping centers, at which time revenue is recognized. Payment of the first half of the fee is generally due upon lease execution and the second half is generally due upon tenant opening or rent payments commencing. 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 2022 2021 2020 Management, transaction, and other fees: Property management services Over time $ 13,470 14,415 14,444 Asset management services Over time 6,752 6,921 6,963 Promote income Over time — 13,589 (1) — Leasing services Point in time 3,945 4,096 3,150 Other transaction fees Point in time 1,684 1,316 1,944 Total management, transaction, and other fees $ 25,851 40,337 26,501 (1) The Company recognized $ 13.6 million in promote revenue during the year ended December 31, 2021 , for exceeding partnership return thresholds from the Company's performance as managing member in the USAA partnership. The consideration was paid in the form of a real estate asset. The accounts receivable for management services, which are included within Tenant and other receivables in the accompanying Consolidated Balance Sheets, are $ 16.4 million and $ 13.2 million , as of December 31, 2022 and 2021 , respectively. |
Real Estate Assets | (c) Real Estate Assets The following table details the components of Real estate assets in the Consolidated Balance Sheets: (in thousands) December 31, 2022 December 31, 2021 Land $ 4,379,877 4,340,084 Land improvements 707,227 684,613 Buildings 5,465,877 5,270,540 Building and tenant improvements 1,171,650 1,061,044 Construction in progress 133,433 139,300 Total real estate assets $ 11,858,064 11,495,581 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, 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, 2022 and 2021, the Company had nonrefundable deposits and other pre-development costs of approximately $ 6.9 million and $ 10.8 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, 2022, 2021, and 2020, the Company expensed pre-development costs of approximately $ 588,000 , $ 1.5 million , and $ 10.5 million , respectively, in Other operating expenses in the accompanying Consolidated Statements of Operations. Interest costs are capitalized into each development and redevelopment project based upon applying the Company's weighted average borrowing rate to that portion of the actual development or redevelopment costs 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, 2022, 2021, and 2020, the Company capitalized interest of $ 4.2 million , $ 4.2 million , and $ 4.4 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, 2022, 2021, and 2020, we capitalized $ 10.8 million , $ 11.3 million , and $ 10.2 million , respectively, of direct internal costs incurred to support our development and redevelopment program. Acquisitions Upon acquisition of operating real estate properties, the Company estimates the fair value of acquired tangible assets (consisting of land, building, building improvements and tenant improvements) and identified intangible assets and liabilities (consisting of above and below-market leases and in-place leases), assumed debt, and any noncontrolling interest in the acquiree at the date of acquisition, based on evaluation of information and estimates available at that date. Based on these estimates, the Company allocates the relative fair value to the applicable assets and liabilities. The acquisition of operating properties are generally considered asset acquisitions and therefore transaction costs are capitalized. Fair value is determined based on an exit price approach, which contemplates the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Company's methodology includes estimating an "as-if vacant" fair value of the physical property, which includes land, building, and improvements. In addition, the Company determines the estimated fair value of identifiable intangible assets and liabilities, considering the following categories: (i) value of in-place leases, and (ii) above and below-market value of in-place leases. The value of in-place leases is estimated based on the value associated with the costs avoided in originating leases compared to the acquired in-place leases as well as the value associated with lost rental and recovery revenue during the assumed lease-up period. The value of in-place leases is recorded to Depreciation and amortization expense in the Consolidated Statements of Operations over the remaining expected term of the respective leases. Above-market and below-market in-place lease values for acquired properties are recorded based on the present value of the difference between (i) the contractual amounts to be paid pursuant to the in-place leases and (ii) management's estimate of 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. If tenants do not remain in their lease through the expected term or exercise an assumed renewal option, there could be a material impact to earnings. The Company does not assign value to customer relationship intangibles if it has pre-existing business relationships with the major retailers at the acquired property since they do not provide incremental value over the Company's existing relationships. Held for Sale The Company classifies 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. Valuation of Real Estate Investments The Company evaluates whether there are any events or changes in circumstances, including property operating performance, and general market conditions, or changes in expected hold periods, that indicate the carrying value of the real estate properties (including any related amortizable intangible assets or liabilities) may not be recoverable. For those properties with such events or changes, management evaluates recoverability of the property's carrying amount. Through the evaluation, the current carrying value of the asset is compared to the estimated undiscounted cash flows that are directly associated with the use and ultimate disposition of the asset. Estimated cash flows are based on several key assumptions, including rental rates, expected leasing activity, costs of tenant improvements, leasing commissions, expected hold period, and assumptions regarding the residual value upon disposition, including the exit capitalization rate. These key assumptions are subjective in nature and could differ materially from actual results. Changes in events or changes in circumstances may alter the hold period of an asset or asset group which may result in an impairment loss and such loss could be material to the Company's financial condition or operating performance. 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 the estimated 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 estimated fair value of real estate assets is subjective and is estimated through comparable sales information and other market data if available, or through use of an income approach such as the direct capitalization method or the discounted cash flow approach. The discounted cash flow approach uses similar assumptions to the undiscounted cash flow approach above, as well as a discount rate. Such cash flow projections and rates are subject to management judgment and changes in those assumptions could impact the estimate of fair value. In estimating the fair value of undeveloped land, the Company generally uses market data and comparable sales information. 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 events or circumstances that indicate that the value of the Company's investment in real estate partnerships may be impaired, it evaluates the investment by calculating the estimated 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 $ 2.6 billion at December 31, 2022 and 2021 , 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, 2022 and 2021, $ 2.3 million and $ 1.9 million , respectively, of cash was restricted through escrow agreements and certain mortgage loans. |
Other Assets | (e) Other Assets Goodwill Goodwill represents the excess of the purchase price consideration from the Equity One merger in 2017 over the fair value of the assets acquired and liabilities assumed. The Company accounts for goodwill in accordance with ASC Topic 350, Intangibles - Goodwill and Other , and allocates its goodwill to its reporting units, which have been determined to be at the individual property level. The Company performs an impairment evaluation of its goodwill at least annually, in November of each year, or more frequently as triggers occur. See note 5. The goodwill impairment evaluation is completed using either a qualitative or quantitative approach. Under a qualitative approach, the impairment review for goodwill consists of an assessment of whether it is more-likely-than-not that the reporting unit's fair value is less than its carrying value, including goodwill. If a qualitative approach indicates it is more likely-than-not that the estimated carrying value of a reporting unit (including goodwill) exceeds its fair value, or if the Company chooses to bypass the qualitative approach for any reporting unit, the Company will perform the quantitative approach described below. The quantitative approach consists of estimating the fair value of each reporting unit using discounted projected future cash flows and comparing those estimated fair values with the carrying values, which include the allocated goodwill. If the estimated fair value is less than the carrying value, the Company would then recognize a goodwill impairment charge for the amount by which the carrying amount exceeds the reporting unit's fair value, not to exceed the total amount of goodwill allocated to that reporting unit. Investments The Company determines the appropriate classification of its investments in debt and equity securities at the time of purchase and reevaluates such determinations at each balance sheet date. The fair value of securities is determined using quoted market prices. Debt securities are classified as held to maturity when the Company has the positive intent and ability to hold the securities to maturity. Debt securities that are bought and held principally for the purpose of selling them in the near term are classified as trading securities and are reported at fair value, with unrealized gains and losses recognized through earnings in Investment income in the Consolidated Statements of Operations. Debt securities not classified as held to maturity or as trading, are classified as available-for-sale, and are carried at fair value, with the unrealized gains and losses, net of tax, included in the determination of comprehensive income and reported in the Consolidated Statements of Comprehensive Income. Equity securities with readily determinable fair values are measured at fair value with changes in the fair value recognized through net income and presented within Investment income in the Consolidated Statements of Operations. |
Goodwill | Goodwill Goodwill represents the excess of the purchase price consideration from the Equity One merger in 2017 over the fair value of the assets acquired and liabilities assumed. The Company accounts for goodwill in accordance with ASC Topic 350, Intangibles - Goodwill and Other , and allocates its goodwill to its reporting units, which have been determined to be at the individual property level. The Company performs an impairment evaluation of its goodwill at least annually, in November of each year, or more frequently as triggers occur. See note 5. The goodwill impairment evaluation is completed using either a qualitative or quantitative approach. Under a qualitative approach, the impairment review for goodwill consists of an assessment of whether it is more-likely-than-not that the reporting unit's fair value is less than its carrying value, including goodwill. If a qualitative approach indicates it is more likely-than-not that the estimated carrying value of a reporting unit (including goodwill) exceeds its fair value, or if the Company chooses to bypass the qualitative approach for any reporting unit, the Company will perform the quantitative approach described below. The quantitative approach consists of estimating the fair value of each reporting unit using discounted projected future cash flows and comparing those estimated fair values with the carrying values, which include the allocated goodwill. If the estimated fair value is less than the carrying value, the Company would then recognize a goodwill impairment charge for the amount by which the carrying amount exceeds the reporting unit's fair value, not to exceed the total amount of goodwill allocated to that reporting unit. |
Investments | Investments The Company determines the appropriate classification of its investments in debt and equity securities at the time of purchase and reevaluates such determinations at each balance sheet date. The fair value of securities is determined using quoted market prices. Debt securities are classified as held to maturity when the Company has the positive intent and ability to hold the securities to maturity. Debt securities that are bought and held principally for the purpose of selling them in the near term are classified as trading securities and are reported at fair value, with unrealized gains and losses recognized through earnings in Investment income in the Consolidated Statements of Operations. Debt securities not classified as held to maturity or as trading, are classified as available-for-sale, and are carried at fair value, with the unrealized gains and losses, net of tax, included in the determination of comprehensive income and reported in the Consolidated Statements of Comprehensive Income. Equity securities with readily determinable fair values are measured at fair value with changes in the fair value recognized through net income and presented within Investment income in the Consolidated Statements of Operations. |
Deferred Leasing Costs | (f) Deferred Leasing Costs Deferred leasing costs consist of costs associated with leasing the Company's shopping centers, and are presented net of accumulated amortization. Such costs are amortized over the period through lease expiration. If the lease is terminated early, the remaining leasing costs are written off. Under ASC Topic 842, the Company, as a lessor, may only defer as initial direct costs the incremental costs of a tenant's operating lease that would not have been incurred if the lease had not been obtained. These costs generally consist of third party broker payments. Non-contingent internal leasing and legal costs associated with leasing activities are expensed within General and administrative expenses. |
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 % owner, is allocated its Pro-rata share of tax attributes. The Company accounts for income taxes related to its TRS's under the asset and liability approach, which requires the recognition of the amount of taxes payable or refundable for the current year and deferred tax assets and liabilities for the expected future tax consequences of events that have been recognized in the financial statements. Under this method, deferred tax assets and liabilities are determined based on the differences between the financial statement and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The Company records net deferred tax assets to the extent it believes it is more likely than not that these assets will be realized. A valuation allowance is recorded to reduce deferred tax assets when it is believed that it is more likely than not that all or some portion of the deferred tax asset will not be realized. The Company considers all available positive and negative evidence, including forecasts of future taxable income, the reversal of other existing temporary differences, available net operating loss carryforwards, tax planning strategies and recent and projected results of operations in order to make that determination. In addition, tax positions are initially recognized in the financial statements when it is more likely than not the position will be sustained upon examination by the tax authorities. Such tax positions shall initially and subsequently be measured as the largest amount of tax benefit that has a greater than 50% likelihood of being realized upon ultimate settlement with the tax authority assuming full knowledge of the position and relevant facts. The Company believes that it has appropriate support for the income tax positions taken and to be taken on its tax returns and that its accruals for tax liabilities are adequate for all open tax years (2018 and forward for federal and state) based on an assessment of many factors including past experience and interpretations of tax laws applied to the facts of each matter. |
Lease Obligations | (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. Under Topic 842, the Company recognizes Lease liabilities on its Consolidated Balance Sheets for its ground and office leases and corresponding Right of use assets related to these same ground and office leases which are classified as operating leases. A key input in estimating the Lease liabilities and resulting Right of use assets is establishing the discount rate in the lease, which since the rates implicit in the lease contracts are not readily determinable, requires additional inputs for the longer-term ground leases, including market-based interest rates that correspond with the remaining term of the lease, the Company's credit spread, and a securitization adjustment necessary to reflect the collateralized payment terms present in the lease. This discount rate is applied to the remaining unpaid minimum rental payments for each lease to measure the operating lease liabilities. The ground and office lease expenses are recognized on a straight-line basis over the term of the leases, including management's estimate of expected 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 re-measures nonfinancial assets and nonfinancial liabilities, initially measured at fair value in a business combination or other new basis event, at fair value in subsequent periods if a re-measurement event occurs. |
Recent Accounting Pronouncements | (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 : ASU 2021-05, Leases (Topic 842): Lessors - Certain Leases with Variable Lease Payments The amendments in this update affect lessor lease classification. Lessors should classify and account for a lease as an operating lease if both of the following criteria are met: (1) have variable lease payments that do not depend on a reference index or a rate and (2) would have resulted in the recognition of a selling loss at lease commencement if classified as sales-type or direct financing. This update results in similar treatment under the current Topic 842 as under the previous Topic 840. January 2022 The adoption of this standard did no t have a material impact to the Company's financial condition, results of operations, cash flows or related footnote disclosures as the Company's customary lease terms do not result in sales-type or direct financing classification, although future leases may. 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. The amendments in this update provide exceptions to the guidance in Topic 815 related to changes to the critical terms of a hedging relationship due to reference rate reform, which if criteria are met, provide such changes should not result in the dedesignation and redesignation of the hedging relationship. March 2020 through December 31, 2022 The Company has elected to apply the hedge accounting expedients and exceptions related to changes to the reference rate from LIBOR to SOFR in the Company’s interest rate swaps. Application of these exceptions preserves the hedge designation of interest rate swaps and the related accounting and presentation consistent with past presentation. |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Accounting Policies [Abstract] | |
Schedule of Variable Interest Entities | The major classes of assets, liabilities, and noncontrolling equity interests held by the Company's consolidated VIEs, exclusive of the Operating Partnership, are as follows: (in thousands) December 31, 2022 December 31, 2021 Assets Net real estate investments $ 107,725 379,075 Cash, cash equivalents, and restricted cash 2,420 5,202 Liabilities Notes payable 4,188 5,000 Equity Limited partners’ interests in consolidated partnerships 24,364 27,950 |
Components of Tenant and Other Receivables, Net | The following table represents the components of Tenant and other receivables, net of amounts considered uncollectible, in the accompanying Consolidated Balance Sheets: December 31, (in thousands) 2022 2021 Tenant receivables $ 31,486 27,354 Straight-line rent receivables 128,214 103,942 Other receivables (1) 29,163 21,795 Total tenant and other receivables, net $ 188,863 153,091 (1) Other receivables include construction receivables, insurance receivables, and amounts due from real estate partnerships for Management, transaction and other fee income. |
Components of Revenue Streams, Timing of Satisfying Performance Obligations, and Amounts | 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 2022 2021 2020 Management, transaction, and other fees: Property management services Over time $ 13,470 14,415 14,444 Asset management services Over time 6,752 6,921 6,963 Promote income Over time — 13,589 (1) — Leasing services Point in time 3,945 4,096 3,150 Other transaction fees Point in time 1,684 1,316 1,944 Total management, transaction, and other fees $ 25,851 40,337 26,501 (1) The Company recognized $ 13.6 million in promote revenue during the year ended December 31, 2021 , for exceeding partnership return thresholds from the Company's performance as managing member in the USAA partnership. The consideration was paid in the form of a real estate asset. |
Components of Real Estate Assets | The following table details the components of Real estate assets in the Consolidated Balance Sheets: (in thousands) December 31, 2022 December 31, 2021 Land $ 4,379,877 4,340,084 Land improvements 707,227 684,613 Buildings 5,465,877 5,270,540 Building and tenant improvements 1,171,650 1,061,044 Construction in progress 133,433 139,300 Total real estate assets $ 11,858,064 11,495,581 |
Schedule of New Accounting Pronouncements and Changes in Accounting Principles | The following table provides a brief description of recent accounting pronouncements and expected impact on our financial statements: Standard Description Date of adoption Effect on the financial statements or other significant matters Recently adopted : ASU 2021-05, Leases (Topic 842): Lessors - Certain Leases with Variable Lease Payments The amendments in this update affect lessor lease classification. Lessors should classify and account for a lease as an operating lease if both of the following criteria are met: (1) have variable lease payments that do not depend on a reference index or a rate and (2) would have resulted in the recognition of a selling loss at lease commencement if classified as sales-type or direct financing. This update results in similar treatment under the current Topic 842 as under the previous Topic 840. January 2022 The adoption of this standard did no t have a material impact to the Company's financial condition, results of operations, cash flows or related footnote disclosures as the Company's customary lease terms do not result in sales-type or direct financing classification, although future leases may. 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. The amendments in this update provide exceptions to the guidance in Topic 815 related to changes to the critical terms of a hedging relationship due to reference rate reform, which if criteria are met, provide such changes should not result in the dedesignation and redesignation of the hedging relationship. March 2020 through December 31, 2022 The Company has elected to apply the hedge accounting expedients and exceptions related to changes to the reference rate from LIBOR to SOFR in the Company’s interest rate swaps. Application of these exceptions preserves the hedge designation of interest rate swaps and the related accounting and presentation consistent with past presentation. |
Real Estate Investments (Tables
Real Estate Investments (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
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, 2022 Date Property Name City/State Property Regency Ownership Purchase (1) Debt (1) Intangible (1) Intangible (1) 3/1/22 Glenwood Green Old Bridge, NJ Development 70 % $ 11,000 — — — 3/31/22 Island Village Bainbridge Island, WA Operating 100 % 30,650 — 2,900 6,839 4/1/22 Apple Valley (2) Apple Valley, MN Operating 100 % 34,070 — 4,773 490 4/1/22 Cedar Commons (2) Minneapolis, MN Operating 100 % 29,330 — 4,369 58 4/1/22 Corral Hollow (2) Tracy, CA Operating 100 % 40,600 — 3,410 74 4/1/22 Shops at the Columbia (2) Washington, DC Operating 100 % 14,000 — 889 181 5/6/22 Baederwood Shoppes Jenkintown, PA Operating 80 % 51,603 22,779 5,796 1,062 10/12/22 East Meadow Plaza East Meadow, NY Operating 100 % 30,000 — 3,295 10,867 Total property acquisitions $ 241,253 22,779 25,432 19,571 (1) Amounts reflected for purchase price and allocation are reflected at 100 % . (2) These properties were part of the four-property portfolio purchased from an existing unconsolidated real estate partnership, RegCal, LLC, in which the company held a 25 % ownership interest. The basis allocated to Real estate assets was $ 93.2 million on a combined basis, including the Company's carryover basis related to its 25 % previously owned equity interest in the partnership. In addition to the acquisitions listed above, the Company acquired, for $ 9.0 million, the remaining 50 % ownership interest from its partner in Kroger New Albany Center, an existing consolidated property. (in thousands) December 31, 2021 Date Property Name City/State Property Regency Ownership Purchase (1) Debt (1) Intangible (1) Intangible (1) 7/30/21 Willa Springs (2) Winter Springs, FL Operating 100 % $ 34,500 17,682 1,562 643 8/1/21 Dunwoody Hall (2) Dunwoody, GA Operating 100 % 32,000 14,612 2,255 973 8/1/21 Alden Bridge (2) Woodlands, TX Operating 100 % 43,000 27,529 3,198 2,308 8/1/21 Hasley Canyon Village (2) Castaic, CA Operating 100 % 31,000 16,941 2,037 — 8/1/21 Shiloh Springs (2) Garland, TX Operating 100 % 19,500 — 1,825 1,079 8/1/21 Bethany Park Place (2) Allen, TX Operating 100 % 18,000 10,800 996 1,732 8/1/21 Blossom Valley (2) Mountain View, CA Operating 100 % 44,000 23,611 2,895 732 11/18/21 Blakeney Shopping Center Charlotte, NC Operating 100 % 181,000 — 14,096 4,431 12/30/21 Valley Stream Long Island, NY Operating 100 % 48,000 — 21,505 1,675 12/30/21 East Meadow Long Island, NY Operating 100 % 38,000 — 6,521 1,197 12/30/21 Wading River Long Island, NY Operating 100 % 35,000 — 4,998 1,469 12/30/21 Eastport Long Island, NY Operating 100 % 9,000 — 1,366 498 Total property acquisitions $ 533,000 111,175 63,254 16,737 (1) Amounts reflected for purchase price and allocation are reflected at 100 %. (2) These properties were part of the seven-property portfolio purchased from an existing unconsolidated real estate partnership, US Regency Retail I, LLC. The basis allocated to Real estate assets was $ 192.9 million, including the Company's carryover basis related to its 20 % previously owned equity interest in the partnership. |
Property Dispositions (Tables)
Property Dispositions (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Discontinued Operations and Disposal Groups [Abstract] | |
Schedule of Properties Disposed of | The following table provides a summary of consolidated shopping centers and land parcels sold during the periods set forth below: Year ended December 31, (in thousands, except number sold data) 2022 2021 2020 Net proceeds from sale of real estate investments $ 143,133 206,193 189,444 Gain on sale of real estate, net of tax $ 109,005 91,119 67,465 Provision for impairment of real estate sold $ — 112 958 Number of operating properties sold 2 7 6 Number of land parcels sold 5 5 11 Percent interest sold 100 % 100 % 50 % - 100 % |
Investments in Real Estate Pa_2
Investments in Real Estate Partnerships (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Schedule of Equity Method Investments [Line Items] | |
Schedule of Investments in Real Estate Partnerships | The Company invests in real estate partnerships, which consist of the following: December 31, 2022 (in thousands) Regency's Ownership Number of Properties Total Investment Total Assets of the Partnership The Company's Share of Net Income of the Partnership Net Income of the Partnership GRI - Regency, LLC (GRIR) 40.00 % 66 $ 155,302 1,501,876 35,819 83,989 New York Common Retirement Fund (NYC) (1) 30.00 % — 674 2,468 9,173 35,673 Columbia Regency Retail Partners, LLC (Columbia I) 20.00 % 7 7,423 138,493 1,817 9,392 Columbia Regency Partners II, LLC (Columbia II) 20.00 % 13 41,757 405,927 1,735 8,674 Columbia Village District, LLC 30.00 % 1 5,836 96,002 1,669 5,597 RegCal, LLC (RegCal) (2) 25.00 % 1 5,789 24,326 4,499 18,258 Individual Investors Ballard Bocks 49.90 % 2 62,624 126,482 1,300 2,925 Town & Country Center 35.00 % 1 40,409 206,931 819 2,404 Others 50.00 % 5 30,563 105,500 2,993 6,254 Total investments in real estate partnerships 96 $ 350,377 2,608,005 59,824 173,166 (1) On May 25, 2022, the NYC partnership sold the remaining two properties and distributed sales proceeds to the members. Dissolution will follow final distributions, which are expected in 2023. (2) During April 2022, we acquired our partner's 75 % share in four properties held in the RegCal, LLC, partnership for a total purchase price of $ 88.5 million. Upon acquisition, these four properties were consolidated into Regency's financial statements. A single operating property remains within RegCal, LLC, at December 31, 2022 . December 31, 2021 (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 $ 153,125 1,537,411 34,655 78,112 New York Common Retirement Fund (NYC) 30.00 % 2 11,688 82,446 315 6,939 Columbia Regency Retail Partners, LLC (Columbia I) 20.00 % 7 7,360 135,537 1,976 10,256 Columbia Regency Partners II, LLC (Columbia II) 20.00 % 12 35,251 352,469 10,987 55,059 Columbia Village District, LLC 30.00 % 1 5,554 94,536 1,522 5,131 RegCal, LLC (RegCal) 25.00 % 6 24,995 103,587 2,058 8,448 US Regency Retail I, LLC (USAA) (1) 20.01 % — — — 631 3,155 Individual Investors Ballard Bocks 49.90 % 2 63,783 128,959 1,742 3,811 Town & Country Center 35.00 % 1 39,021 207,339 ( 733 ) 2,014 Others 50.00 % 5 31,814 113,160 ( 6,067 ) 26,351 Total investments in real estate partnerships 103 $ 372,591 2,755,444 47,086 199,276 (1) On August 1, 2021, the Company acquired the partner's 80 % interest in the seven properties held in the USAA partnership and therefore all earnings of this property are included in consolidated results from the date of acquisition and excluded from partnership earnings. See note 2. |
Balance Sheet Summarized Financial Information | The summarized balance sheet information for the investments in real estate partnerships, on a combined basis, is as follows: December 31, (in thousands) 2022 2021 Investments in real estate, net $ 2,359,289 2,530,964 Acquired lease intangible assets, net 16,821 18,735 Other assets 231,895 205,745 Total assets $ 2,608,005 2,755,444 Notes payable $ 1,398,297 1,444,867 Acquired lease intangible liabilities, net 17,619 20,978 Other liabilities 81,714 90,097 Capital - Regency 412,784 438,510 Capital - Third parties 697,591 760,992 Total liabilities and capital $ 2,608,005 2,755,444 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) 2022 2021 Capital - Regency $ 412,784 438,510 Basis difference ( 62,407 ) ( 65,919 ) Investments in real estate partnerships $ 350,377 372,591 |
Schedule of Revenues and Expenses for Investments in Real Estate Partnerships | The revenues and expenses for the investments in real estate partnerships, on a combined basis, are summarized as follows: Year ended December 31, (in thousands) 2022 2021 2020 Total revenues $ 378,096 416,222 381,094 Operating expenses: Depreciation and amortization 86,193 94,026 101,590 Property operating expense 61,224 66,061 65,146 Real estate taxes 42,010 54,618 53,747 General and administrative 5,615 5,837 5,870 Other operating expenses 3,851 3,624 3,126 Total operating expenses $ 198,893 224,166 229,479 Other expense (income): Interest expense, net 54,874 58,109 66,786 Gain on sale of real estate ( 49,424 ) ( 75,162 ) ( 7,146 ) Early extinguishment of debt 587 — 554 Provision for impairment — 9,833 — Total other expense (income) 6,037 ( 7,220 ) 60,194 Net income of the Partnerships $ 173,166 199,276 91,421 The Company's share of net income of the Partnerships $ 59,824 47,086 34,169 |
Schedule of Properties Disposed of | The following table provides a summary of consolidated shopping centers and land parcels sold during the periods set forth below: Year ended December 31, (in thousands, except number sold data) 2022 2021 2020 Net proceeds from sale of real estate investments $ 143,133 206,193 189,444 Gain on sale of real estate, net of tax $ 109,005 91,119 67,465 Provision for impairment of real estate sold $ — 112 958 Number of operating properties sold 2 7 6 Number of land parcels sold 5 5 11 Percent interest sold 100 % 100 % 50 % - 100 % |
Scheduled Principal Repayments on Notes Payable | Scheduled principal repayments on notes payable held by our unconsolidated investments in real estate partnerships as of December 31, 2022, were as follows: (in thousands) Scheduled Mortgage Unsecured Total Regency's 2023 $ 3,194 125,108 — 128,302 51,187 2024 2,205 33,690 — 35,895 14,298 2025 3,433 139,683 — 143,116 43,908 2026 3,807 218,883 23,800 246,490 79,741 2027 3,802 32,800 — 36,602 12,420 Beyond 5 Years 9,194 809,650 — 818,844 300,506 Net unamortized loan costs, debt premium / (discount) — ( 10,952 ) — ( 10,952 ) ( 3,800 ) Total notes payable $ 25,635 1,348,862 23,800 1,398,297 498,260 |
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 discussed in Note 1, as follows: Year ended December 31, (in thousands) 2022 2021 2020 Asset management, property management, leasing, and investment and financing services $ 25,851 40,301 (1) 26,618 (1) In connection with the USAA partnership, we received and recognized a one-time promote fee of $ 13.6 million during the year ended December 31, 2021 , in consideration for exceeding return thresholds resulting from our performance as managing member. |
Unconsolidated Properties [Member] | |
Schedule of Equity Method Investments [Line Items] | |
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 2022, which had no such acquisitions in 2021: (in thousands) Year ended December 31, 2022 Date Property City/State Property Co-investment Ownership Purchase Price (1) Debt Assumed, Net of Premiums (1) Intangible Assets (1) Intangible Liabilities (1) 03/25/22 Naperville Plaza Naperville, IL Operating Columbia II 20.00 % $ 52,380 22,074 4,336 814 06/24/22 Baybrook East 1B Houston, TX Development Other 50.00 % 5,540 — — — Total property acquisitions $ 57,920 22,074 4,336 814 (1) Amounts reflected for purchase price and allocation are reflected at 100 %. |
Schedule of Properties Disposed of | The following table provides a summary of shopping centers and land parcels disposed of through our unconsolidated real estate partnerships: Year ended December 31, (in thousands) 2022 2021 2020 Proceeds from sale of real estate investments $ 116,377 224,708 27,974 Gain on sale of real estate $ 49,424 75,162 7,147 The Company's share of gain on sale of real estate $ 12,748 9,380 2,413 Number of operating properties sold 4 4 2 Number of land out-parcels sold — 1 — |
Other Assets (Tables)
Other Assets (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Other Assets [Abstract] | |
Schedule of Other Assets | The following table represents the components of Other assets in the accompanying Consolidated Balance Sheets as of the periods set forth below: (in thousands) December 31, 2022 December 31, 2021 Goodwill $ 167,062 167,095 Investments 54,581 65,112 Prepaid and other 28,615 21,332 Derivative assets 6,575 — Furniture, fixtures, and equipment, net 5,808 5,444 Deferred financing costs, net 5,156 7,448 Total other assets $ 267,797 266,431 |
Schedule of Goodwill | The following table presents the goodwill balances and activity during the year to date periods ended: December 31, 2022 December 31, 2021 (in thousands) Goodwill Accumulated Total Goodwill Accumulated Total Beginning of year balance $ 300,529 ( 133,434 ) 167,095 $ 307,413 ( 133,545 ) 173,868 Goodwill allocated to Provision for impairment — — — — — — Goodwill allocated to Properties held for sale — — — ( 2,465 ) — ( 2,465 ) Goodwill associated with disposed reporting units: Goodwill allocated to Provision for impairment — — — ( 111 ) 111 — Goodwill allocated to Gain on sale of real estate ( 33 ) — ( 33 ) ( 4,308 ) — ( 4,308 ) End of year balance $ 300,496 ( 133,434 ) 167,062 $ 300,529 ( 133,434 ) 167,095 |
Acquired Lease Intangibles (Tab
Acquired Lease Intangibles (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of Net Accumulated Amortization and Accretion | The Company had the following acquired lease intangibles as of the periods set forth below: December 31, (in thousands) 2022 2021 In-place leases $ 452,868 443,460 Above-market leases 82,930 81,433 Total intangible assets 535,798 524,893 Accumulated amortization ( 338,053 ) ( 312,186 ) Acquired lease intangible assets, net $ 197,745 212,707 Below-market leases 547,519 535,569 Accumulated amortization ( 193,315 ) ( 172,293 ) Acquired lease intangible liabilities, net $ 354,204 363,276 The following table provides a summary of amortization and net accretion amounts from acquired lease intangibles: Year ended December 31, (in thousands) 2022 2021 2020 Line item in Consolidated Statements of Operations In-place lease amortization $ 34,568 33,621 48,297 Depreciation and amortization Above-market lease amortization 5,828 5,487 7,658 Lease income Acquired lease intangible asset amortization $ 40,396 39,108 55,955 Below-market lease amortization $ 28,642 30,378 50,103 Lease income |
Schedule of Future Amortization Expense and Minimum Rent | The estimated aggregate amortization and net accretion amounts from acquired lease intangibles for the next five years are as follows: (in thousands) In Process Year Ending Amortization of Net accretion of Above 2023 $ 28,033 22,518 2024 21,830 20,406 2025 17,611 19,814 2026 14,421 19,098 2027 11,392 17,956 |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Leases [Abstract] | |
Operating Lease, Lease Income | The following table provides a disaggregation of lease income recognized as either fixed or variable lease income based on the criteria specified in Topic 842: (in thousands) December 31, 2022 December 31, 2021 December 31, 2020 Operating lease income Fixed and in-substance fixed lease income $ 851,409 797,502 807,603 Variable lease income 287,149 262,619 247,384 Other lease related income, net: Above/below market rent and tenant rent inducement amortization, net 22,543 24,539 42,219 Uncollectible straight-line rent (1) 12,510 5,227 ( 34,673 ) Uncollectible amounts billable in lease income (1) 13,841 23,481 ( 82,367 ) Total lease income $ 1,187,452 1,113,368 980,166 (1) During the years ended December 31, 2022 and 2021 , the Company had improved rent collections following lifting of pandemic-related restrictions which resulted in more favorable income than experienced in 2020 during the height of the pandemic. |
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, 2022 2023 $ 850,211 2024 768,797 2025 657,870 2026 552,735 2027 440,844 Thereafter 1,579,740 Total $ 4,850,197 |
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, 2022 December 31, 2021 December 31, 2020 Fixed operating lease expense Ground leases $ 13,759 13,862 13,716 Office leases 4,162 4,309 4,334 Total fixed operating lease expense 17,921 18,171 18,050 Variable lease expense Ground leases 1,591 1,032 1,044 Office leases 611 615 585 Total variable lease expense 2,202 1,647 1,629 Total lease expense $ 20,123 19,818 19,679 Cash paid for amounts included in the measurement of operating lease liabilities Operating cash flows for operating leases $ 14,656 15,165 15,003 |
Lessee, Operating Lease, Liability, Maturity | The following table summarizes the undiscounted future cash flows by year attributable to the operating lease liabilities for ground and office leases as of December 31, 2022, 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 2023 $ 10,750 4,046 14,796 2024 10,799 3,082 13,881 2025 10,801 2,880 13,681 2026 10,722 2,715 13,437 2027 10,722 1,517 12,239 Thereafter 516,564 741 517,305 Total undiscounted lease liabilities $ 570,358 14,981 585,339 Present value discount ( 370,486 ) ( 1,131 ) ( 371,617 ) Lease liabilities $ 199,872 13,850 213,722 Weighted average discount rate 5.2 % 3.6 % Weighted average remaining term (in years) 46.8 4.4 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
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) 2022 2021 2020 Dividend per share $ 2.53 (1) 2.53 (2) 2.19 Ordinary income 100 % 92 % 100 % Capital gain (3) — % 8 % — % Additional tax status information: Qualified dividend income — % 1 % — % Section 199A dividend 100 % 91 % 100 % Section 897 ordinary dividends — % 2 % — % Section 897 capital gains — % 4 % — % (1) During 2022, the Company declared four quarterly dividends, the last of which was paid on January 4, 2023, with a portion allocated to the 2022 dividend period, and the balance allocated to 2023. (2) During 2021, the Company declared four quarterly dividends, the last of which was paid on January 5, 2022, with a portion allocated to the 2021 devidend period, and the balance allocated to 2022. (3) Of the total capital gain distribution during 2021, 42 % is excluded under Reg. 1.1061-4(b)(7). The remaining 58 % is a Three Year Amount under Reg. 1.1061-6(c). |
Schedule of Components of Income Tax Expense (Benefit) | Our consolidated expense (benefit) for income taxes for the years ended December 31, 2022, 2021, and 2020 was as follows: Year ended December 31, (in thousands) 2022 2021 2020 Income tax expense (benefit): Current $ ( 332 ) 620 2,157 Deferred 293 421 ( 891 ) Total income tax expense (benefit) (1) $ ( 39 ) 1,041 1,266 (1) Includes $( 39,000 ) , $ 943,000 and $( 355,000 ) of tax expense (benefit) presented within Other operating expenses during the years ended December 31, 2022, 2021, and 2020, respectively. Additionally, $ 1,600,000 of tax expense is presented within Gain on sale of real estate (or Provision for impairment), net of tax, during the year ended December 31, 2020 . |
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) 2022 2021 2020 Computed expected tax expense (benefit) $ 504 544 ( 3,665 ) State income tax, net of federal benefit 52 477 ( 593 ) Valuation allowance ( 323 ) 15 1,043 Permanent items 1 1 5,079 All other items ( 273 ) 4 ( 598 ) Total income tax expense (1) ( 39 ) 1,041 1,266 Income tax expense attributable to operations (1) $ ( 39 ) 1,041 1,266 (1) Includes $( 39,000 ) , $ 943,000 , and $( 355,000 ) of tax expense (benefit) presented within Other operating expenses during the years ended December 31, 2022, 2021, and 2020, respectively. Additionally, $ 1,600,000 of tax expense is presented within Gain on sale of real estate (or Provision for impairment), net of tax, during the year ended December 31, 2020 . |
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) 2022 2021 Deferred tax assets Fixed assets $ — 1,039 Other 1,007 1,379 Deferred tax assets 1,007 2,418 Valuation allowance ( 1,007 ) ( 2,418 ) Deferred tax assets, net $ — — Deferred tax liabilities Fixed assets ( 12,527 ) ( 13,004 ) Other ( 61 ) ( 340 ) Deferred tax liabilities ( 12,588 ) ( 13,344 ) Net deferred tax liabilities $ ( 12,588 ) ( 13,344 ) |
Notes Payable and Unsecured C_2
Notes Payable and Unsecured Credit Facilities (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Debt Disclosure [Abstract] | |
Schedule of Debt | The Company's outstanding debt, net of unamortized debt premium (discount) and debt issuance costs, consisted of the following as of the dates set forth below: Maturing Weighted Weighted December 31, (in thousands) 2022 2021 Notes payable: Fixed rate mortgage loans 3/1/2032 3.9 % 3.5 % $ 342,135 359,414 Variable rate mortgage loans (1) 6/2/2027 3.4 % 3.7 % 136,246 115,539 Fixed rate unsecured debt 3/15/2049 3.8 % 4.0 % 3,248,373 3,243,991 Total notes payable 3,726,754 3,718,944 Unsecured credit facilities: Line of Credit (2) 3/23/2025 5.0 % 5.3 % — — Total debt outstanding $ 3,726,754 3,718,944 (1) Five of these six variable rate loans, representing $ 132.1 million of debt in the aggregate, have interest rate swaps in place to mitigate interest rate fluctuation risk. With these swap agreements, the fixed rates of the loans range f rom 2.5 % to 4.1 %. (2) Weighted-average effective rate for the Line is calculated based on a fully drawn Line balance using the period end variable rate. |
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, 2022 Scheduled Principal Payments and Maturities by Year: Scheduled Mortgage Unsecured (1) Total 2023 $ 9,695 59,383 — 69,078 2024 4,849 90,758 250,000 345,607 2025 3,732 44,250 250,000 297,982 2026 3,922 112,365 200,000 316,287 2027 3,788 137,915 525,000 666,703 Beyond 5 Years 2,873 319 2,050,000 2,053,192 Unamortized debt premium/(discount) and issuance costs — 4,532 ( 26,627 ) ( 22,095 ) Total notes payable $ 28,859 449,522 3,248,373 3,726,754 (1) Includes unsecured public and private debt and unsecured credit facilities . |
Derivative Financial Instrume_2
Derivative Financial Instruments (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Schedule of derivative instruments | The following table summarizes the terms and fair values of the Company's derivative financial instruments, as well as their classification on the Consolidated Balance Sheets: Fair Value at December 31, (in thousands) Assets (Liabilities) (1) Effective Maturity Notional Bank Pays Variable Regency Pays 2022 2021 4/7/16 4/1/23 $ 18,637 LIBOR 1.303 % $ 152 ( 175 ) 12/1/16 11/1/23 31,131 SOFR 1.490 % 883 ( 412 ) 9/17/19 3/17/25 24,000 SOFR 1.443 % 1,443 ( 364 ) 6/2/17 6/2/27 35,446 SOFR 2.261 % 2,158 ( 1,907 ) 12/20/19 (2) 12/19/26 24,365 LIBOR 1.750 % 1,939 — Total derivative financial instruments $ 6,575 ( 2,858 ) (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) The Company assumed this interest rate swap which hedges debt also assumed with the purchase of Baederwood Shoppes in May 2022. |
Derivative Instruments, Gain (Loss) | The following table represents the effect of the derivative financial instruments on the accompanying Consolidated Financial Statements: Location and Amount of Gain (Loss) Location and Amount of Loss (Gain) Total amounts presented in the Consolidated Year ended December 31, Year ended December 31, Year ended December 31, (in thousands) 2022 2021 2020 2022 2021 2020 2022 2021 2020 Interest $ 20,061 5,391 ( 19,187 ) Interest expense, net $ 833 4,141 8,790 Interest $ 146,186 145,170 156,678 Early extinguishment of debt (1) $ — — 2,472 Early extinguishment of debt $ — — 21,837 (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, 2022 | |
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, 2022 2021 (in thousands) Carrying Fair Value Carrying Fair Value Financial liabilities: Notes payable $ 3,726,754 3,333,378 $ 3,718,944 4,103,533 |
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, 2022 (in thousands) Balance Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Assets: Securities $ 40,089 40,089 — — Available-for-sale debt securities 14,492 — 14,492 — Interest rate derivatives 6,575 — 6,575 — Total $ 61,156 40,089 21,067 — Fair Value Measurements as of December 31, 2021 (in thousands) Balance Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Assets: Securities $ 49,513 49,513 — — Available-for-sale debt securities 15,599 — 15,599 — Total $ 65,112 49,513 15,599 — Liabilities: Interest rate derivatives $ ( 2,858 ) — ( 2,858 ) — |
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, 2021 (in thousands) Balance Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Total Gains (Losses) Operating properties $ 140,500 — — 140,500 ( 84,277 ) |
Equity and Capital (Tables)
Equity and Capital (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
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) 2022 2021 Partnership units owned by the general partner 171,125 171,213 Partnership units owned by the limited partners 741 760 Total partnership units outstanding 171,866 171,973 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, 2022 | |
Share-Based Payment Arrangement [Abstract] | |
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award | The Company recorded stock-based compensation in General and administrative expenses in the accompanying Consolidated Statements of Operations, the components of which are further described below: Year ended December 31, (in thousands) 2022 2021 2020 Restricted stock (1) $ 16,667 12,651 14,248 Directors' fees paid in common stock and other employee stock grants 589 530 452 Capitalized stock-based compensation ( 735 ) ( 666 ) ( 1,119 ) Stock-based compensation, net of capitalization $ 16,521 12,515 13,581 (1) Includes amortization of the grant date fair value of restricted stock awards over the respective vesting periods . |
Schedule of Nonvested Share Activity | The following table summarizes non-vested restricted stock activity: Year ended December 31, 2022 Number of Shares Intrinsic Value (in thousands) Weighted Average Grant Price Non-vested as of December 31, 2021 691,862 Time-based awards granted (1) (4) 148,048 $ 71.36 Performance-based awards granted (2) (4) 15,674 $ 71.68 Market-based awards granted (3) (4) 112,759 $ 74.98 Change in market-based awards earned for performance (3) 5,153 $ 71.58 Vested (5) ( 250,491 ) $ 71.05 Forfeited ( 11,306 ) $ 62.65 Non-vested as of December 31, 2022 (6) 711,699 $ 44,481 (1) Time-based awards vest beginning on the first anniversary following the grant date over a one or four year service period . These grants are subject only to continued employment and are not dependent on future performance measures. Accordingly, if such vesting criteria are not met, compensation cost previously recognized would be reversed. (2) Performance-based awards are earned subject to future performance measurements. Once the performance criteria are achieved and the actual number of shares earned is determined, shares vest over a required service period. The Company considers the likelihood of meeting the performance criteria based upon management's estimates from which it determines the amounts recognized as expense on a periodic basis. (3) Market-based awards are earned dependent upon the Company's total shareholder return in relation to the shareholder return of a NAREIT index over a three-year period. Once the performance criteria are met and the actual number of shares earned is determined, the shares are immediately vested and distributed. The probability of meeting the criteria is considered when calculating the estimated fair value on the date of grant using a Monte Carlo simulation. These awards are accounted for as awards with market criteria, with compensation cost recognized over the service period, regardless of whether the performance criteria are achieved and the awards are ultimately earned. The significant assumptions underlying determination of fair values for market-based awards granted were as follows: Year ended December 31, 2022 2021 2020 Volatility 43.10 % 42.60 % 18.50 % Risk free interest rate 1.39 % 0.18 % 1.30 % (4) The weighted-average grant price for restricted stock granted during the years is summarized below: Year ended December 31, 2022 2021 2020 Weighted-average grant price for restricted stock $ 72.86 $ 46.55 $ 64.14 (5) The total intrinsic value of restricted stock vested during the years is summarized below (in thousands): Year ended December 31, 2022 2021 2020 Intrinsic value of restricted stock vested $ 17,797 $ 10,939 $ 14,423 (6) As of December 31, 2022, there was $ 16.6 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, 2022 | |
Retirement Benefits [Abstract] | |
Summary of balances of the assets and deferred compensation liabilities of the Rabbi trust and related participant account obligations | The following table reflects the balances of the assets and deferred compensation liabilities of the Rabbi trust and related participant account obligations in the accompanying Consolidated Balance Sheets, excluding Regency stock: Year ended December 31, (in thousands) 2022 2021 Location in Consolidated Balance Sheets Assets: Securities $ 36,163 44,464 Other assets Liabilities: Deferred compensation obligation $ 36,085 44,388 Accounts payable and other liabilities |
Earnings per Share and Unit (Ta
Earnings per Share and Unit (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
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) 2022 2021 2020 Numerator: Income attributable to common stockholders - basic $ 482,865 361,411 44,889 Income attributable to common stockholders - diluted $ 482,865 361,411 44,889 Denominator: Weighted average common shares outstanding for basic EPS 171,404 170,236 169,231 Weighted average common shares outstanding for diluted EPS (1) (2) 171,791 170,694 169,460 Income per common share – basic $ 2.82 2.12 0.27 Income per common share – diluted $ 2.81 2.12 0.26 (1) Includes the dilutive impact of unvested restricted stock. (2) Using the treasury stock method, weighted average common shares outstanding for basic and diluted earnings per share exclude 1.0 million shares issuable under the forward ATM equity offering outstanding during 2021 as they would be anti-dilutive. |
Partnership Interest [Member] | |
Schedule of earnings per share | The following summarizes the calculation of basic and diluted earnings per unit: Year ended December 31, (in thousands, except per share data) 2022 2021 2020 Numerator: Income attributable to common unit holders - basic $ 484,970 363,026 45,092 Income attributable to common unit holders - diluted $ 484,970 363,026 45,092 Denominator: Weighted average common units outstanding for basic EPU 172,152 170,998 169,997 Weighted average common units outstanding for diluted EPU (1) (2) 172,540 171,456 170,225 Income per common unit – basic $ 2.82 2.12 0.27 Income per common unit – diluted $ 2.81 2.12 0.26 (1) Includes the dilutive impact of unvested restricted stock. (2) Using the treasury stock method, weighted average common shares outstanding for basic and diluted earnings per share exclude 1.0 million shares issuable under the forward ATM equity offering outstanding during 2021 as they would be anti-dilutive. |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies - Additional Information (Details) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 USD ($) ft² RetailShoppingCenter ShoppingCenter TenantAccount shares | Dec. 31, 2021 USD ($) shares | Dec. 31, 2020 USD ($) | |
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 | 171,125,000 | 171,213,000 | |
Partners' capital account, units | shares | 171,866,026 | 171,973,000 | |
Tenant and other receivables | $ 188,863 | $ 153,091 | |
Pre-development costs | 588,000 | 1,500 | $ 10,500 |
Tax basis of investments, unrealized appreciation (depreciation), net | 2,600,000 | ||
Restricted cash and cash equivalent | $ 2,310 | 1,930 | |
Cash and cash equivalents and restricted original maturity | 90 days or less | ||
Percentage of pro-rata annual base rent | 20% | ||
Number of tenant | TenantAccount | 0 | ||
Number of shopping center | ShoppingCenter | 0 | ||
Management, transaction, and other fee [Member] | |||
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | |||
Tenant and other receivables | $ 16,400 | 13,200 | |
Parent Company [Member] | |||
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | |||
Restricted cash and cash equivalent | $ 2,300 | 1,900 | |
Leases less than 10,000 sqft [Member] | |||
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | |||
Operating leases, tenant space terms | ft² | 10,000 | ||
Leases greater then 10,000 sqft [Member] | |||
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | |||
Operating leases, tenant space terms | ft² | 10,000 | ||
Minimum [Member] | |||
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | |||
Expected useful lives of the properties and other intangible assets | 10 years | ||
Operating leases, lease year range | 3 years | ||
Operating leases, lease year range for tenant space greater than 10,000 sq ft | 5 years | ||
Maximum [Member] | |||
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | |||
Expected useful lives of the properties and other intangible assets | 40 years | ||
Operating leases, lease year range | 7 years | ||
Maximum [Member] | Revenue [Member] | Customer Concentration Risk [Member] | |||
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | |||
Concentration risk, percentage | 5% | ||
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 | ||
Refundable deposits - development | |||
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | |||
Nonrefundable deposits and other predevelopment costs | $ 6,900 | 10,800 | |
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 | 171,124,593 | ||
Parent company, ownership percentage of outstanding common partnership units of operating partnership | 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 | RetailShoppingCenter | 308 | ||
Unconsolidated Properties [Member] | |||
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | |||
Number of real estate properties | RetailShoppingCenter | 96 | ||
Partially Owned Properties [Member] | |||
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | |||
Number of real estate properties | RetailShoppingCenter | 107 | ||
Consolidated Properties [Member] | |||
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | |||
Number of real estate properties | RetailShoppingCenter | 11 | ||
Development and Redevelopment [Member] | |||
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | |||
Interest costs capitalized | $ 4,200 | 4,200 | 4,400 |
Maximum period of time in company capitalizes interest costs | 12 months | ||
Development [Member] | |||
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | |||
Internal costs for employees directly related to development and redevelopment program | $ 10,800 | $ 11,300 | $ 10,200 |
Summary of Significant Accoun_5
Summary of Significant Accounting Policies - Schedule of Variable Interest Entities (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Variable Interest Entity [Line Items] | ||
Variable interest entity, consolidated, carrying amount, assets | $ 10,860,220 | $ 10,792,563 |
Variable interest entity, consolidated, carrying amount, liabilities | 4,682,181 | 4,682,631 |
Noncontrolling interest in variable interest entity | 24,364 | 27,950 |
Variable Interest Entity, Primary Beneficiary [Member] | Notes Payable [Member] | ||
Variable Interest Entity [Line Items] | ||
Variable interest entity, consolidated, carrying amount, liabilities | 4,188 | 5,000 |
Variable Interest Entity, Primary Beneficiary [Member] | Net Real Estate Investments [Member] | ||
Variable Interest Entity [Line Items] | ||
Variable interest entity, consolidated, carrying amount, assets | 107,725 | 379,075 |
Variable Interest Entity, Primary Beneficiary [Member] | Cash, Cash Equivalents, and Restricted Cash [Member] | ||
Variable Interest Entity [Line Items] | ||
Variable interest entity, consolidated, carrying amount, assets | $ 2,420 | $ 5,202 |
Summary of Significant Accoun_6
Summary of Significant Accounting Policies - Components of Tenant and Other Receivables, Net (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Tenant and other receivables, net | $ 188,863 | $ 153,091 | |
Tenant Receivables [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Tenant and other receivables, net | 31,486 | 27,354 | |
Straight-line Rent Receivables [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Tenant and other receivables, net | 128,214 | 103,942 | |
Other Receivable [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Tenant and other receivables, net | [1] | $ 29,163 | $ 21,795 |
[1] Other receivables include construction receivables, insurance receivables, and amounts due from real estate partnerships for Management, transaction and other fee income. |
Summary of Significant Accoun_7
Summary of Significant Accounting Policies - Components of Revenue Streams, Timing of Satisfying Performance Obligations, and Amounts (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | ||
Product Information [Line Items] | ||||
Management, transaction, and other fees | $ 25,851 | $ 40,337 | $ 26,501 | |
Property management services [Member] | ||||
Product Information [Line Items] | ||||
Management, transaction, and other fees | $ 13,470 | 14,415 | 14,444 | |
Timing of satisfaction of performance obligations | Over time | |||
Asset management services [Member] | ||||
Product Information [Line Items] | ||||
Management, transaction, and other fees | $ 6,752 | 6,921 | 6,963 | |
Timing of satisfaction of performance obligations | Over time | |||
Promote income [Member] | ||||
Product Information [Line Items] | ||||
Management, transaction, and other fees | $ 13,600 | 13,589 | [1] | |
Timing of satisfaction of performance obligations | Over time | |||
Leasing services [Member] | ||||
Product Information [Line Items] | ||||
Management, transaction, and other fees | $ 3,945 | 4,096 | 3,150 | |
Timing of satisfaction of performance obligations | Point in time | |||
Other transaction fees [Member] | ||||
Product Information [Line Items] | ||||
Management, transaction, and other fees | $ 1,684 | $ 1,316 | $ 1,944 | |
Timing of satisfaction of performance obligations | Point in time | |||
[1] The Company recognized $ 13.6 million in promote revenue during the year ended December 31, 2021 , for exceeding partnership return thresholds from the Company's performance as managing member in the USAA partnership. The consideration was paid in the form of a real estate asset. |
Summary of Significant Accoun_8
Summary of Significant Accounting Policies - Components of Revenue Streams, Timing of Satisfying Performance Obligations, and Amounts (Parenthetical) (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | ||
Product Information [Line Items] | ||||
Management, transaction, and other fees | $ 25,851 | $ 40,337 | $ 26,501 | |
Promote income [Member] | ||||
Product Information [Line Items] | ||||
Management, transaction, and other fees | $ 13,600 | $ 13,589 | [1] | |
[1] The Company recognized $ 13.6 million in promote revenue during the year ended December 31, 2021 , for exceeding partnership return thresholds from the Company's performance as managing member in the USAA partnership. The consideration was paid in the form of a real estate asset. |
Summary of Significant Accoun_9
Summary of Significant Accounting Policies - Components of Real Estate Assets (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Property Plant And Equipment [Line Items] | ||
Total real estate assets | $ 11,858,064 | $ 11,495,581 |
Parent Company [Member] | ||
Property Plant And Equipment [Line Items] | ||
Land | 4,379,877 | 4,340,084 |
Land improvements | 707,227 | 684,613 |
Buildings | 5,465,877 | 5,270,540 |
Building and tenant improvements | 1,171,650 | 1,061,044 |
Construction in progress | 133,433 | 139,300 |
Total real estate assets | $ 11,858,064 | $ 11,495,581 |
Summary of Significant Accou_10
Summary of Significant Accounting Policies - Schedule of New Accounting Pronouncements and Changes in Accounting Principles (Details) | Dec. 31, 2022 |
ASU 2021-05 [Member] | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |
Change in accounting principle accounting standards update adopted | true |
Change in accounting principle, accounting standards update, adoption date | Jan. 01, 2022 |
Change in accounting principle, accounting standards update, immaterial effect [true false] | true |
ASU 2020-04 [Member] | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |
Change in accounting principle accounting standards update adopted | true |
Change in accounting principle, accounting standards update, adoption date | Mar. 01, 2020 |
Real Estate Investments - Sched
Real Estate Investments - Schedule of Business Acquisitions (Details) - USD ($) $ in Thousands | 12 Months Ended | ||||
Dec. 31, 2022 | Dec. 31, 2021 | ||||
Business Acquisition [Line Items] | |||||
Purchase Price | $ 241,253 | [1] | $ 533,000 | [2] | |
Debt Assumed, Net of Premiums | 22,779 | [1] | 111,175 | [2] | |
Off-Market Favorable Lease [Member] | |||||
Business Acquisition [Line Items] | |||||
Intangible Assets/Liabilities | 25,432 | [1] | 63,254 | [2] | |
Off-Market Lease, Unfavorable [Member] | |||||
Business Acquisition [Line Items] | |||||
Intangible Assets/Liabilities | $ 19,571 | [1] | $ 16,737 | [2] | |
Glenwood Green [Member] | |||||
Business Acquisition [Line Items] | |||||
Date Purchased | Mar. 01, 2022 | ||||
Property Name | Glenwood Green | ||||
City/State | Old Bridge, NJ | ||||
Ownership | 70% | ||||
Purchase Price | [1] | $ 11,000 | |||
Island Village [Member] | |||||
Business Acquisition [Line Items] | |||||
Date Purchased | Mar. 31, 2022 | ||||
Property Name | Island Village | ||||
City/State | Bainbridge Island, WA | ||||
Ownership | 100% | ||||
Purchase Price | [1] | $ 30,650 | |||
Island Village [Member] | Off-Market Favorable Lease [Member] | |||||
Business Acquisition [Line Items] | |||||
Intangible Assets/Liabilities | [1] | 2,900 | |||
Island Village [Member] | Off-Market Lease, Unfavorable [Member] | |||||
Business Acquisition [Line Items] | |||||
Intangible Assets/Liabilities | [1] | $ 6,839 | |||
Apple Valley [Member] | |||||
Business Acquisition [Line Items] | |||||
Date Purchased | [3] | Apr. 01, 2022 | |||
Property Name | [3] | Apple Valley (2) | |||
City/State | [3] | Apple Valley, MN | |||
Ownership | [3] | 100% | |||
Purchase Price | [1],[3] | $ 34,070 | |||
Apple Valley [Member] | Off-Market Favorable Lease [Member] | |||||
Business Acquisition [Line Items] | |||||
Intangible Assets/Liabilities | [1],[3] | 4,773 | |||
Apple Valley [Member] | Off-Market Lease, Unfavorable [Member] | |||||
Business Acquisition [Line Items] | |||||
Intangible Assets/Liabilities | [1],[3] | $ 490 | |||
Cedar Commons [Member] | |||||
Business Acquisition [Line Items] | |||||
Date Purchased | [3] | Apr. 01, 2022 | |||
Property Name | [3] | Cedar Commons (2) | |||
City/State | [3] | Minneapolis, MN | |||
Ownership | [3] | 100% | |||
Purchase Price | [1],[3] | $ 29,330 | |||
Cedar Commons [Member] | Off-Market Favorable Lease [Member] | |||||
Business Acquisition [Line Items] | |||||
Intangible Assets/Liabilities | [1],[3] | 4,369 | |||
Cedar Commons [Member] | Off-Market Lease, Unfavorable [Member] | |||||
Business Acquisition [Line Items] | |||||
Intangible Assets/Liabilities | [1],[3] | $ 58 | |||
Corral Hollow [Member] | |||||
Business Acquisition [Line Items] | |||||
Date Purchased | [3] | Apr. 01, 2022 | |||
Property Name | [3] | Corral Hollow (2) | |||
City/State | [3] | Tracy, CA | |||
Ownership | [3] | 100% | |||
Purchase Price | [1],[3] | $ 40,600 | |||
Corral Hollow [Member] | Off-Market Favorable Lease [Member] | |||||
Business Acquisition [Line Items] | |||||
Intangible Assets/Liabilities | [1],[3] | 3,410 | |||
Corral Hollow [Member] | Off-Market Lease, Unfavorable [Member] | |||||
Business Acquisition [Line Items] | |||||
Intangible Assets/Liabilities | [1],[3] | $ 74 | |||
Shops at The Columbia [Member] | |||||
Business Acquisition [Line Items] | |||||
Date Purchased | [3] | Apr. 01, 2022 | |||
Property Name | [3] | Shops at the Columbia (2) | |||
City/State | [3] | Washington, DC | |||
Ownership | [3] | 100% | |||
Purchase Price | [1],[3] | $ 14,000 | |||
Shops at The Columbia [Member] | Off-Market Favorable Lease [Member] | |||||
Business Acquisition [Line Items] | |||||
Intangible Assets/Liabilities | [1],[3] | 889 | |||
Shops at The Columbia [Member] | Off-Market Lease, Unfavorable [Member] | |||||
Business Acquisition [Line Items] | |||||
Intangible Assets/Liabilities | [1],[3] | $ 181 | |||
Baederwood Shoppes [Member] | |||||
Business Acquisition [Line Items] | |||||
Date Purchased | May 06, 2022 | ||||
Property Name | Baederwood Shoppes | ||||
City/State | Jenkintown, PA | ||||
Ownership | 80% | ||||
Purchase Price | [1] | $ 51,603 | |||
Debt Assumed, Net of Premiums | [1] | 22,779 | |||
Baederwood Shoppes [Member] | Off-Market Favorable Lease [Member] | |||||
Business Acquisition [Line Items] | |||||
Intangible Assets/Liabilities | [1] | 5,796 | |||
Baederwood Shoppes [Member] | Off-Market Lease, Unfavorable [Member] | |||||
Business Acquisition [Line Items] | |||||
Intangible Assets/Liabilities | [1] | $ 1,062 | |||
East Meadow Plaza [Member] | |||||
Business Acquisition [Line Items] | |||||
Date Purchased | Oct. 12, 2022 | ||||
Property Name | East Meadow Plaza | ||||
City/State | East Meadow, NY | ||||
Ownership | 100% | ||||
Purchase Price | [1] | $ 30,000 | |||
East Meadow Plaza [Member] | Off-Market Favorable Lease [Member] | |||||
Business Acquisition [Line Items] | |||||
Intangible Assets/Liabilities | [1] | 3,295 | |||
East Meadow Plaza [Member] | Off-Market Lease, Unfavorable [Member] | |||||
Business Acquisition [Line Items] | |||||
Intangible Assets/Liabilities | [1] | $ 10,867 | |||
Willa Springs [Member] | |||||
Business Acquisition [Line Items] | |||||
Date Purchased | [4] | Jul. 30, 2021 | |||
Property Name | [4] | Willa Springs (2) | |||
City/State | [4] | Winter Springs, FL | |||
Ownership | [4] | 100% | |||
Purchase Price | [2],[4] | $ 34,500 | |||
Debt Assumed, Net of Premiums | [2],[4] | 17,682 | |||
Willa Springs [Member] | Off-Market Favorable Lease [Member] | |||||
Business Acquisition [Line Items] | |||||
Intangible Assets/Liabilities | [2],[4] | 1,562 | |||
Willa Springs [Member] | Off-Market Lease, Unfavorable [Member] | |||||
Business Acquisition [Line Items] | |||||
Intangible Assets/Liabilities | [2],[4] | $ 643 | |||
Dunwoody Hall [Member] | |||||
Business Acquisition [Line Items] | |||||
Date Purchased | [4] | Aug. 01, 2021 | |||
Property Name | [4] | Dunwoody Hall (2) | |||
City/State | [4] | Dunwoody, GA | |||
Ownership | [4] | 100% | |||
Purchase Price | [2],[4] | $ 32,000 | |||
Debt Assumed, Net of Premiums | [2],[4] | 14,612 | |||
Dunwoody Hall [Member] | Off-Market Favorable Lease [Member] | |||||
Business Acquisition [Line Items] | |||||
Intangible Assets/Liabilities | [2],[4] | 2,255 | |||
Dunwoody Hall [Member] | Off-Market Lease, Unfavorable [Member] | |||||
Business Acquisition [Line Items] | |||||
Intangible Assets/Liabilities | [2],[4] | $ 973 | |||
Alden Bridge [Member] | |||||
Business Acquisition [Line Items] | |||||
Date Purchased | [4] | Aug. 01, 2021 | |||
Property Name | [4] | Alden Bridge (2) | |||
City/State | [4] | Woodlands, TX | |||
Ownership | [4] | 100% | |||
Purchase Price | [2],[4] | $ 43,000 | |||
Debt Assumed, Net of Premiums | [2],[4] | 27,529 | |||
Alden Bridge [Member] | Off-Market Favorable Lease [Member] | |||||
Business Acquisition [Line Items] | |||||
Intangible Assets/Liabilities | [2],[4] | 3,198 | |||
Alden Bridge [Member] | Off-Market Lease, Unfavorable [Member] | |||||
Business Acquisition [Line Items] | |||||
Intangible Assets/Liabilities | [2],[4] | $ 2,308 | |||
Hasley Canyon Village [Member] | |||||
Business Acquisition [Line Items] | |||||
Date Purchased | [4] | Aug. 01, 2021 | |||
Property Name | [4] | Hasley Canyon Village (2) | |||
City/State | [4] | Castaic, CA | |||
Ownership | [4] | 100% | |||
Purchase Price | [2],[4] | $ 31,000 | |||
Debt Assumed, Net of Premiums | [2],[4] | 16,941 | |||
Hasley Canyon Village [Member] | Off-Market Favorable Lease [Member] | |||||
Business Acquisition [Line Items] | |||||
Intangible Assets/Liabilities | [2],[4] | $ 2,037 | |||
Shiloh Springs [Member] | |||||
Business Acquisition [Line Items] | |||||
Date Purchased | [4] | Aug. 01, 2021 | |||
Property Name | [4] | Shiloh Springs (2) | |||
City/State | [4] | Garland, TX | |||
Ownership | [4] | 100% | |||
Purchase Price | [2],[4] | $ 19,500 | |||
Shiloh Springs [Member] | Off-Market Favorable Lease [Member] | |||||
Business Acquisition [Line Items] | |||||
Intangible Assets/Liabilities | [2],[4] | 1,825 | |||
Shiloh Springs [Member] | Off-Market Lease, Unfavorable [Member] | |||||
Business Acquisition [Line Items] | |||||
Intangible Assets/Liabilities | [2],[4] | $ 1,079 | |||
Bethany Park Place [Member] | |||||
Business Acquisition [Line Items] | |||||
Date Purchased | [4] | Aug. 01, 2021 | |||
Property Name | [4] | Bethany Park Place (2) | |||
City/State | [4] | Allen, TX | |||
Ownership | [4] | 100% | |||
Purchase Price | [2],[4] | $ 18,000 | |||
Debt Assumed, Net of Premiums | [2],[4] | 10,800 | |||
Bethany Park Place [Member] | Off-Market Favorable Lease [Member] | |||||
Business Acquisition [Line Items] | |||||
Intangible Assets/Liabilities | [2],[4] | 996 | |||
Bethany Park Place [Member] | Off-Market Lease, Unfavorable [Member] | |||||
Business Acquisition [Line Items] | |||||
Intangible Assets/Liabilities | [2],[4] | $ 1,732 | |||
Blossom Valley [Member] | |||||
Business Acquisition [Line Items] | |||||
Date Purchased | [4] | Aug. 01, 2021 | |||
Property Name | [4] | Blossom Valley (2) | |||
City/State | [4] | Mountain View, CA | |||
Ownership | [4] | 100% | |||
Purchase Price | [2],[4] | $ 44,000 | |||
Debt Assumed, Net of Premiums | [2],[4] | 23,611 | |||
Blossom Valley [Member] | Off-Market Favorable Lease [Member] | |||||
Business Acquisition [Line Items] | |||||
Intangible Assets/Liabilities | [2],[4] | 2,895 | |||
Blossom Valley [Member] | Off-Market Lease, Unfavorable [Member] | |||||
Business Acquisition [Line Items] | |||||
Intangible Assets/Liabilities | [2],[4] | $ 732 | |||
Blakeney Shopping Center [Member] | |||||
Business Acquisition [Line Items] | |||||
Date Purchased | Nov. 18, 2021 | ||||
Property Name | Blakeney Shopping Center | ||||
City/State | Charlotte, NC | ||||
Ownership | 100% | ||||
Purchase Price | [2] | $ 181,000 | |||
Blakeney Shopping Center [Member] | Off-Market Favorable Lease [Member] | |||||
Business Acquisition [Line Items] | |||||
Intangible Assets/Liabilities | [2] | 14,096 | |||
Blakeney Shopping Center [Member] | Off-Market Lease, Unfavorable [Member] | |||||
Business Acquisition [Line Items] | |||||
Intangible Assets/Liabilities | [2] | $ 4,431 | |||
Valley Stream [Member] | |||||
Business Acquisition [Line Items] | |||||
Date Purchased | Dec. 30, 2021 | ||||
Property Name | Valley Stream | ||||
City/State | Long Island, NY | ||||
Ownership | 100% | ||||
Purchase Price | [2] | $ 48,000 | |||
Valley Stream [Member] | Off-Market Favorable Lease [Member] | |||||
Business Acquisition [Line Items] | |||||
Intangible Assets/Liabilities | [2] | 21,505 | |||
Valley Stream [Member] | Off-Market Lease, Unfavorable [Member] | |||||
Business Acquisition [Line Items] | |||||
Intangible Assets/Liabilities | [2] | $ 1,675 | |||
East Meadow [Member] | |||||
Business Acquisition [Line Items] | |||||
Date Purchased | Dec. 30, 2021 | ||||
Property Name | East Meadow | ||||
City/State | Long Island, NY | ||||
Ownership | 100% | ||||
Purchase Price | [2] | $ 38,000 | |||
East Meadow [Member] | Off-Market Favorable Lease [Member] | |||||
Business Acquisition [Line Items] | |||||
Intangible Assets/Liabilities | [2] | 6,521 | |||
East Meadow [Member] | Off-Market Lease, Unfavorable [Member] | |||||
Business Acquisition [Line Items] | |||||
Intangible Assets/Liabilities | [2] | $ 1,197 | |||
Wading River [Member] | |||||
Business Acquisition [Line Items] | |||||
Date Purchased | Dec. 30, 2021 | ||||
Property Name | Wading River | ||||
City/State | Long Island, NY | ||||
Ownership | 100% | ||||
Purchase Price | [2] | $ 35,000 | |||
Wading River [Member] | Off-Market Favorable Lease [Member] | |||||
Business Acquisition [Line Items] | |||||
Intangible Assets/Liabilities | [2] | 4,998 | |||
Wading River [Member] | Off-Market Lease, Unfavorable [Member] | |||||
Business Acquisition [Line Items] | |||||
Intangible Assets/Liabilities | [2] | $ 1,469 | |||
Eastport [Member] | |||||
Business Acquisition [Line Items] | |||||
Date Purchased | Dec. 30, 2021 | ||||
Property Name | Eastport | ||||
City/State | Long Island, NY | ||||
Ownership | 100% | ||||
Purchase Price | [2] | $ 9,000 | |||
Eastport [Member] | Off-Market Favorable Lease [Member] | |||||
Business Acquisition [Line Items] | |||||
Intangible Assets/Liabilities | [2] | 1,366 | |||
Eastport [Member] | Off-Market Lease, Unfavorable [Member] | |||||
Business Acquisition [Line Items] | |||||
Intangible Assets/Liabilities | [2] | $ 498 | |||
[1] Amounts reflected for purchase price and allocation are reflected at 100 % Amounts reflected for purchase price and allocation are reflected at 100 %. These properties were part of the four-property portfolio purchased from an existing unconsolidated real estate partnership, RegCal, LLC, in which the company held a 25 % ownership interest. The basis allocated to Real estate assets was $ 93.2 million on a combined basis, including the Company's carryover basis related to its 25 % previously owned equity interest in the partnership. These properties were part of the seven-property portfolio purchased from an existing unconsolidated real estate partnership, US Regency Retail I, LLC. The basis allocated to Real estate assets was $ 192.9 million, including the Company's carryover basis related to its 20 % previously owned equity interest in the partnership. |
Real Estate Investments - Addit
Real Estate Investments - Additional Information (Details) - Kroger New Albany Center [Member] $ in Millions | Nov. 30, 2022 USD ($) |
Real Estate [Line Item] | |
Percentage of equity interest acquired | 50% |
Business acquisition gross purchase price | $ 9 |
Real Estate Investments - Sch_2
Real Estate Investments - Schedule of Business Acquisitions (Parenthetical) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Business Acquisition [Line Items] | ||
Percentage of purchase price and allocation | 100% | 100% |
Percentage of purchase price of property | 25% | 20% |
RegCal, LLC [Member] | ||
Business Acquisition [Line Items] | ||
Business acquisition gross purchase price | $ 93.2 | |
Percentage of equity interest acquired | 25% | |
US Regency Retail I, LLC [Member] | ||
Business Acquisition [Line Items] | ||
Business acquisition gross purchase price | $ 192.9 |
Property Dispositions (Details)
Property Dispositions (Details) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 USD ($) Property | Dec. 31, 2021 USD ($) Property | Dec. 31, 2020 USD ($) Property | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Net proceeds from sale of real estate investments | $ 143,133 | $ 206,193 | $ 189,444 |
Gain on sale of real estate, net of tax | $ 109,005 | 91,119 | 67,465 |
Provision for impairment of real estate | $ 84,389 | $ 18,536 | |
Wholly Owned Properties [Member] | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Percent interest sold | 100% | 100% | |
Wholly Owned Properties [Member] | Minimum [Member] | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Percent interest sold | 50% | ||
Wholly Owned Properties [Member] | Maximum [Member] | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Percent interest sold | 100% | ||
Real Estate Sold [Member] | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Provision for impairment of real estate | $ 112 | $ 958 | |
Operating Properties [Member] | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Number of real estate properties sold | Property | 2 | 7 | 6 |
Land [Member] | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Number of real estate properties sold | Property | 5 | 5 | 11 |
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, 2022 USD ($) Property | Dec. 31, 2021 USD ($) Property | Dec. 31, 2020 USD ($) | |||
Schedule of Equity Method Investments [Line Items] | |||||
Number of Properties | Property | 96 | 103 | |||
Total Investments | $ 350,377 | $ 372,591 | |||
The Company's Share of Net Income of the Partnership | 59,824 | 47,086 | $ 34,169 | ||
Total Assets [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Total assets of the Partnership | 2,608,005 | 2,755,444 | |||
Net Income [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Net Income of the Partnership | $ 173,166 | $ 199,276 | |||
GRI - Regency, LLC [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Ownership Percentage | 40% | 40% | |||
Number of Properties | Property | 66 | 67 | |||
Total Investments | $ 155,302 | $ 153,125 | |||
The Company's Share of Net Income of the Partnership | 35,819 | 34,655 | |||
GRI - Regency, LLC [Member] | Total Assets [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Total assets of the Partnership | 1,501,876 | 1,537,411 | |||
GRI - Regency, LLC [Member] | Net Income [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Net Income of the Partnership | $ 83,989 | $ 78,112 | |||
New York Common Retirement Fund (NYC) [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Ownership Percentage | 30% | [1] | 30% | ||
Number of Properties | Property | 2 | ||||
Total Investments | $ 674 | [1] | $ 11,688 | ||
The Company's Share of Net Income of the Partnership | 9,173 | [1] | 315 | ||
New York Common Retirement Fund (NYC) [Member] | Total Assets [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Total assets of the Partnership | 2,468 | [1] | 82,446 | ||
New York Common Retirement Fund (NYC) [Member] | Net Income [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Net Income of the Partnership | $ 35,673 | [1] | $ 6,939 | ||
Columbia Regency Retail Partners, LLC (Columbia I) [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Ownership Percentage | 20% | 20% | |||
Number of Properties | Property | 7 | 7 | |||
Total Investments | $ 7,423 | $ 7,360 | |||
The Company's Share of Net Income of the Partnership | 1,817 | 1,976 | |||
Columbia Regency Retail Partners, LLC (Columbia I) [Member] | Total Assets [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Total assets of the Partnership | 138,493 | 135,537 | |||
Columbia Regency Retail Partners, LLC (Columbia I) [Member] | Net Income [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Net Income of the Partnership | $ 9,392 | $ 10,256 | |||
Columbia Regency Partners II, LLC (Columbia II) [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Ownership Percentage | 20% | 20% | |||
Number of Properties | Property | 13 | 12 | |||
Total Investments | $ 41,757 | $ 35,251 | |||
The Company's Share of Net Income of the Partnership | 1,735 | 10,987 | |||
Columbia Regency Partners II, LLC (Columbia II) [Member] | Total Assets [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Total assets of the Partnership | 405,927 | 352,469 | |||
Columbia Regency Partners II, LLC (Columbia II) [Member] | Net Income [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Net Income of the Partnership | $ 8,674 | $ 55,059 | |||
Columbia Village District, LLC [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Ownership Percentage | 30% | 30% | |||
Number of Properties | Property | 1 | 1 | |||
Total Investments | $ 5,836 | $ 5,554 | |||
The Company's Share of Net Income of the Partnership | 1,669 | 1,522 | |||
Columbia Village District, LLC [Member] | Total Assets [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Total assets of the Partnership | 96,002 | 94,536 | |||
Columbia Village District, LLC [Member] | Net Income [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Net Income of the Partnership | $ 5,597 | $ 5,131 | |||
RegCal, LLC (RegCal) [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Ownership Percentage | 25% | [2] | 25% | ||
Number of Properties | Property | 1 | [2] | 6 | ||
Total Investments | $ 5,789 | [2] | $ 24,995 | ||
The Company's Share of Net Income of the Partnership | 4,499 | [2] | 2,058 | ||
RegCal, LLC (RegCal) [Member] | Total Assets [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Total assets of the Partnership | 24,326 | [2] | 103,587 | ||
RegCal, LLC (RegCal) [Member] | Net Income [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Net Income of the Partnership | $ 18,258 | [2] | $ 8,448 | ||
US Regency Retail I, LLC (USAA) [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Ownership Percentage | [3] | 20.01% | |||
The Company's Share of Net Income of the Partnership | [3] | $ 631 | |||
US Regency Retail I, LLC (USAA) [Member] | Net Income [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Net Income of the Partnership | [3] | $ 3,155 | |||
Ballard Bocks [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Ownership Percentage | 49.90% | 49.90% | |||
Number of Properties | Property | 2 | 2 | |||
Total Investments | $ 62,624 | $ 63,783 | |||
The Company's Share of Net Income of the Partnership | 1,300 | 1,742 | |||
Ballard Bocks [Member] | Total Assets [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Total assets of the Partnership | 126,482 | 128,959 | |||
Ballard Bocks [Member] | Net Income [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Net Income of the Partnership | $ 2,925 | $ 3,811 | |||
Town & Country Center [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Ownership Percentage | 35% | 35% | |||
Number of Properties | Property | 1 | 1 | |||
Total Investments | $ 40,409 | $ 39,021 | |||
The Company's Share of Net Income of the Partnership | 819 | (733) | |||
Town & Country Center [Member] | Total Assets [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Total assets of the Partnership | 206,931 | 207,339 | |||
Town & Country Center [Member] | Net Income [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Net Income of the Partnership | $ 2,404 | $ 2,014 | |||
Others [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Ownership Percentage | 50% | 50% | |||
Number of Properties | Property | 5 | 5 | |||
Total Investments | $ 30,563 | $ 31,814 | |||
The Company's Share of Net Income of the Partnership | 2,993 | (6,067) | |||
Others [Member] | Total Assets [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Total assets of the Partnership | 105,500 | 113,160 | |||
Others [Member] | Net Income [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Net Income of the Partnership | $ 6,254 | $ 26,351 | |||
[1] On May 25, 2022, the NYC partnership sold the remaining two properties and distributed sales proceeds to the members. Dissolution will follow final distributions, which are expected in 2023. During April 2022, we acquired our partner's 75 % share in four properties held in the RegCal, LLC, partnership for a total purchase price of $ 88.5 million. Upon acquisition, these four properties were consolidated into Regency's financial statements. A single operating property remains within RegCal, LLC, at December 31, 2022 . On August 1, 2021, the Company acquired the partner's 80 % interest in the seven properties held in the USAA partnership and therefore all earnings of this property are included in consolidated results from the date of acquisition and excluded from partnership earnings. See note 2. |
Investments in Real Estate Pa_4
Investments in Real Estate Partnerships - Schedule of Investments in Real Estate Partnerships (Parenthetical) (Details) $ in Millions | 1 Months Ended | 12 Months Ended | |||
May 25, 2022 Property | Aug. 01, 2021 Property | Apr. 30, 2022 USD ($) Property | Dec. 31, 2022 Property | Dec. 31, 2021 Property | |
Schedule of Equity Method Investments [Line Items] | |||||
Real Estate Partnerships, Number of Properties | 96 | 103 | |||
New York Common Retirement Fund (NYC) [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Real Estate Partnership, Number of properties sold | 2 | ||||
RegCal, LLC (RegCal) [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Ownership | 75% | ||||
Real Estate Partnerships, Number of Properties | 4 | ||||
Total purchase price | $ | $ 88.5 | ||||
US Regency Retail I, LLC (USAA) [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Ownership | 80% | ||||
Real Estate Partnerships, Number of Properties | 7 |
Investments in Real Estate Pa_5
Investments in Real Estate Partnerships - Balance Sheet Summarized Financial Information (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Schedule of Equity Method Investments [Line Items] | ||
Investments in real estate, net | $ 9,792,581 | $ 9,693,209 |
Acquired lease intangible assets, net | 197,745 | 212,707 |
Other assets | 267,797 | 266,431 |
Total assets | 10,860,220 | 10,792,563 |
Notes payable | 3,726,754 | 3,718,944 |
Acquired lease intangible liabilities, net | 354,204 | 363,276 |
Capital - Regency | 81,054 | 72,561 |
Capital - Third parties | 6,096,985 | 6,037,371 |
Total liabilities and equity | 10,860,220 | 10,792,563 |
Investments in real estate partnerships (note 4) | 350,377 | 372,591 |
Basis Difference [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
Equity Method Investment, Difference Between Carrying Amount and Underlying Equity | (62,407) | (65,919) |
Real Estate Partnership [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
Investments in real estate, net | 2,359,289 | 2,530,964 |
Acquired lease intangible assets, net | 16,821 | 18,735 |
Other assets | 231,895 | 205,745 |
Total assets | 2,608,005 | 2,755,444 |
Notes payable | 1,398,297 | 1,444,867 |
Acquired lease intangible liabilities, net | 17,619 | 20,978 |
Other liabilities | 81,714 | 90,097 |
Total liabilities and equity | 2,608,005 | 2,755,444 |
Regency [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
Capital - Regency | 412,784 | 438,510 |
Third Parties [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
Capital - Third parties | $ 697,591 | $ 760,992 |
Investments in Real Estate Pa_6
Investments in Real Estate Partnerships - Schedule of Revenues and Expenses for Investments in Real Estate Partnerships (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Schedule of Equity Method Investments [Line Items] | |||
Total revenues | $ 1,224,022 | $ 1,166,161 | $ 1,016,175 |
Operating expenses: | |||
Depreciation and amortization | 319,697 | 303,331 | 345,900 |
Real estate taxes | 149,795 | 142,129 | 143,004 |
General and administrative | 79,903 | 78,218 | 75,001 |
Other operating expenses | 6,166 | 5,751 | 12,642 |
Total operating expenses | 751,709 | 713,982 | 746,620 |
Other expense (income): | |||
Interest expense, net | 146,186 | 145,170 | 156,678 |
Gain on sale of real estate | (109,005) | (91,119) | (67,465) |
Early extinguishment of debt | 21,837 | ||
Provision for impairment | 84,389 | 18,536 | |
Total other expense (income) | 44,102 | 132,977 | 256,407 |
Net income | 488,035 | 366,288 | 47,317 |
Real Estate Partnership [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Total revenues | 378,096 | 416,222 | 381,094 |
Operating expenses: | |||
Depreciation and amortization | 86,193 | 94,026 | 101,590 |
Property operating expense | 61,224 | 66,061 | 65,146 |
Real estate taxes | 42,010 | 54,618 | 53,747 |
General and administrative | 5,615 | 5,837 | 5,870 |
Other operating expenses | 3,851 | 3,624 | 3,126 |
Total operating expenses | 198,893 | 224,166 | 229,479 |
Other expense (income): | |||
Interest expense, net | 54,874 | 58,109 | 66,786 |
Gain on sale of real estate | (49,424) | (75,162) | (7,146) |
Early extinguishment of debt | 587 | 0 | 554 |
Provision for impairment | 0 | 9,833 | 0 |
Total other expense (income) | 6,037 | (7,220) | 60,194 |
Net Income [Member] | |||
Other expense (income): | |||
Net income | 173,166 | 199,276 | 91,421 |
Unconsolidated Properties [Member] | |||
Other expense (income): | |||
Income (Loss) from Equity Method Investments | $ 59,824 | $ 47,086 | $ 34,169 |
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, 2022 | Dec. 31, 2021 | [2] | |||
Business Acquisition [Line Items] | |||||
Purchase Price | $ 241,253 | [1] | $ 533,000 | ||
Debt Assumed, Net of Premiums | 22,779 | [1] | 111,175 | ||
Off-Market Lease, Unfavorable [Member] | |||||
Business Acquisition [Line Items] | |||||
Intangible Assets/Liabilities | 19,571 | [1] | 16,737 | ||
Off-Market Favorable Lease [Member] | |||||
Business Acquisition [Line Items] | |||||
Intangible Assets/Liabilities | 25,432 | [1] | $ 63,254 | ||
Unconsolidated Properties [Member] | |||||
Business Acquisition [Line Items] | |||||
Purchase Price | [3] | 57,920 | |||
Debt Assumed, Net of Premiums | [3] | 22,074 | |||
Unconsolidated Properties [Member] | Off-Market Lease, Unfavorable [Member] | |||||
Business Acquisition [Line Items] | |||||
Intangible Assets/Liabilities | [3] | 814 | |||
Unconsolidated Properties [Member] | Off-Market Favorable Lease [Member] | |||||
Business Acquisition [Line Items] | |||||
Intangible Assets/Liabilities | [3] | $ 4,336 | |||
Unconsolidated Properties [Member] | Naperville Plaza [Member] | |||||
Business Acquisition [Line Items] | |||||
Date Purchased | Mar. 25, 2022 | ||||
Property Name | Naperville Plaza | ||||
City/State | Naperville, IL | ||||
Business Acquisition, Description of Acquired Entity | Operating | ||||
Business Acquisition, Co-investment Partner | Columbia II | ||||
Ownership Percentage | 20% | ||||
Purchase Price | [3] | $ 52,380 | |||
Debt Assumed, Net of Premiums | [3] | 22,074 | |||
Unconsolidated Properties [Member] | Naperville Plaza [Member] | Off-Market Lease, Unfavorable [Member] | |||||
Business Acquisition [Line Items] | |||||
Intangible Assets/Liabilities | [3] | 814 | |||
Unconsolidated Properties [Member] | Naperville Plaza [Member] | Off-Market Favorable Lease [Member] | |||||
Business Acquisition [Line Items] | |||||
Intangible Assets/Liabilities | [3] | $ 4,336 | |||
Unconsolidated Properties [Member] | Baybrook East 1B [Member] | |||||
Business Acquisition [Line Items] | |||||
Date Purchased | Jun. 24, 2022 | ||||
Property Name | Baybrook East 1B | ||||
City/State | Houston, TX | ||||
Business Acquisition, Description of Acquired Entity | Development | ||||
Business Acquisition, Co-investment Partner | Other | ||||
Ownership Percentage | 50% | ||||
Purchase Price | [3] | $ 5,540 | |||
[1] Amounts reflected for purchase price and allocation are reflected at 100 % Amounts reflected for purchase price and allocation are reflected at 100 %. Amounts reflected for purchase price and allocation are reflected at 100 %. |
Investments in Real Estate Pa_8
Investments in Real Estate Partnerships - Schedule of Acquisitions by Real Estate Partnerships (Parenthetical) (Details) | Dec. 31, 2022 | Dec. 31, 2021 |
Equity Method Investments and Joint Ventures [Abstract] | ||
Percentage of purchase price and allocation | 100% | 100% |
Investments in Real Estate Pa_9
Investments in Real Estate Partnerships - Summary of Shopping Centers and Land Parcels Disposed of Unconsolidated Real Estate Partnerships (Details) - Unconsolidated Properties [Member] $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 USD ($) Property | Dec. 31, 2021 USD ($) Property | Dec. 31, 2020 USD ($) Property | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Proceeds from Sale of Equity Method Investments | $ 116,377 | $ 224,708 | $ 27,974 |
Equity Method Investment, Realized Gain (Loss) on Disposal | 49,424 | 75,162 | 7,147 |
Equity Method Investment, Realized Gain (Loss) on Disposal, Parent Company's Share | $ 12,748 | $ 9,380 | $ 2,413 |
Operating Segments [Member] | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Number of real estate properties sold | Property | 4 | 4 | 2 |
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 | 1 | 0 |
Investments in Real Estate P_10
Investments in Real Estate Partnerships - Scheduled Principal Repayments on Notes Payable (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Schedule of Equity Method Investments [Line Items] | ||
2023 | $ 69,078 | |
2024 | 345,607 | |
2025 | 297,982 | |
2026 | 316,287 | |
2027 | 666,703 | |
Beyond 5 Years | 2,053,192 | |
Unamortized debt premium/(discount) and issuance costs | (22,095) | |
Total | 3,726,754 | $ 3,718,944 |
Unsecured Debt [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
Total | 3,248,373 | $ 3,243,991 |
Unconsolidated Investments in Partnership [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
2023 | 128,302 | |
2024 | 35,895 | |
2025 | 143,116 | |
2026 | 246,490 | |
2027 | 36,602 | |
Beyond 5 Years | 818,844 | |
Unamortized debt premium/(discount) and issuance costs | (10,952) | |
Total | 1,398,297 | |
Unconsolidated Investments in Partnership [Member] | Mortgages [Member] | Scheduled Principal Payments [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
2023 | 3,194 | |
2024 | 2,205 | |
2025 | 3,433 | |
2026 | 3,807 | |
2027 | 3,802 | |
Beyond 5 Years | 9,194 | |
Unamortized debt premium/(discount) and issuance costs | 0 | |
Total | 25,635 | |
Unconsolidated Investments in Partnership [Member] | Mortgages [Member] | Mortgage Loan Maturities [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
2023 | 125,108 | |
2024 | 33,690 | |
2025 | 139,683 | |
2026 | 218,883 | |
2027 | 32,800 | |
Beyond 5 Years | 809,650 | |
Unamortized debt premium/(discount) and issuance costs | (10,952) | |
Total | 1,348,862 | |
Unconsolidated Investments in Partnership [Member] | Unsecured Debt [Member] | Unsecured Maturities [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
2023 | 0 | |
2024 | 0 | |
2025 | 0 | |
2026 | 23,800 | |
2027 | 0 | |
Beyond 5 Years | 0 | |
Unamortized debt premium/(discount) and issuance costs | 0 | |
Total | 23,800 | |
Unconsolidated Investments in Partnership, Pro-rata Share [Member] [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
2023 | 51,187 | |
2024 | 14,298 | |
2025 | 43,908 | |
2026 | 79,741 | |
2027 | 12,420 | |
Beyond 5 Years | 300,506 | |
Unamortized debt premium/(discount) and issuance costs | (3,800) | |
Total | $ 498,260 |
Investments in Real Estate P_11
Investments in Real Estate Partnerships - Additional Information (Details) | 12 Months Ended |
Dec. 31, 2022 | |
Debt Instrument [Line Items] | |
Percent of long term debt with fixed interest rate | 97.90% |
Weighted average fixed interest rate | 3.70% |
Maturity period | 2034 |
London Interbank Offered Rate (LIBOR) [Member] | |
Debt Instrument [Line Items] | |
Weighted average variable interest rate | 5.90% |
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member] | |
Debt Instrument [Line Items] | |
Weighted average variable interest rate | 5.90% |
Investments in Real Estate P_12
Investments in Real Estate Partnerships - Related Party Revenue (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | ||
Equity Method Investments and Joint Ventures [Abstract] | ||||
Asset management, property management, leasing, and investment and financing services | $ 25,851 | $ 40,301 | [1] | $ 26,618 |
[1] In connection with the USAA partnership, we received and recognized a one-time promote fee of $ 13.6 million during the year ended December 31, 2021 , in consideration for exceeding return thresholds resulting from our performance as managing member. |
Investments in Real Estate P_13
Investments in Real Estate Partnerships - Related Party Revenue (Parenthetical) (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | ||
Product Information [Line Items] | ||||
Management, transaction, and other fees | $ 25,851 | $ 40,337 | $ 26,501 | |
Promote income [Member] | ||||
Product Information [Line Items] | ||||
Management, transaction, and other fees | $ 13,600 | $ 13,589 | [1] | |
[1] The Company recognized $ 13.6 million in promote revenue during the year ended December 31, 2021 , for exceeding partnership return thresholds from the Company's performance as managing member in the USAA partnership. The consideration was paid in the form of a real estate asset. |
Schedule of Other Assets (Detai
Schedule of Other Assets (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Other Assets [Abstract] | |||
Goodwill | $ 167,062 | $ 167,095 | $ 173,868 |
Investments | 54,581 | 65,112 | |
Prepaid and other | 28,615 | 21,332 | |
Derivative assets | 6,575 | ||
Furniture, fixtures, and equipment, net | 5,808 | 5,444 | |
Deferred financing costs, net | 5,156 | 7,448 | |
Total other assets | $ 267,797 | $ 266,431 |
Schedule of Goodwill (Details)
Schedule of Goodwill (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Goodwill [Line Items] | ||
Goodwill Gross, Beginning balance | $ 300,529 | $ 307,413 |
Goodwill, ending balance | 300,496 | 300,529 |
Goodwill, Accumulated Impairment Losses, Beginning balance | (133,434) | (133,545) |
Goodwill, Accumulated Impairment Losses, Ending balance | (133,434) | (133,434) |
Goodwill, Beginning balance | 167,095 | 173,868 |
Goodwill allocated to Properties held for sale | (2,465) | |
Goodwill, Ending balance | 167,062 | 167,095 |
Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member] | ||
Goodwill [Line Items] | ||
Goodwill Gross, allocated to Gain on sale of real estate | (33) | (4,308) |
Goodwill Accumulated Impairment Losses, allocated to Provision for impairment | (111) | |
Goodwill allocated to Provision for impairment | 111 | |
Goodwill allocated to Gain on sale of real estate | $ (33) | $ (4,308) |
Other Assets (Details)
Other Assets (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2020 USD ($) | |
Goodwill [Line Items] | |
Goodwill, impairment loss | $ 132,128 |
Acquired Leases Intangibles (De
Acquired Leases Intangibles (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Finite-Lived Intangible Assets [Line Items] | |||
Finite-Lived Intangible Assets, Gross | $ 535,798 | $ 524,893 | |
Accumulated amortization | (338,053) | (312,186) | |
Acquired lease intangible assets, net of amortization | 197,745 | 212,707 | |
Finite-Lived Intangible Liabilities, Accumulated Accretion | (193,315) | (172,293) | |
Off-market Lease, Unfavorable | 354,204 | 363,276 | |
Finite-Lived Intangible Assets, Amortization Expense | 40,396 | 39,108 | $ 55,955 |
Partnership Interest [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Accumulated amortization | (338,053) | (312,186) | |
Acquired lease intangible assets, net of amortization | 197,745 | 212,707 | |
Off-market Lease, Unfavorable | 354,204 | 363,276 | |
In-place leases, net [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Finite-Lived Intangible Assets, Gross | 452,868 | 443,460 | |
Finite-Lived Intangible Assets, Amortization Expense | 34,568 | 33,621 | 48,297 |
Above Market Leases [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Finite-Lived Intangible Assets, Gross | 82,930 | 81,433 | |
Finite-Lived Intangible Assets, Amortization Expense | 5,828 | 5,487 | 7,658 |
Off-Market Lease, Unfavorable [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Finite Lived Intangible Liabilities, Gross | 547,519 | 535,569 | |
Acquired lease intangible liability accretion | $ 28,642 | $ 30,378 | $ 50,103 |
Acquired Lease Intangibles Sche
Acquired Lease Intangibles Schedule of Future Amortization Expense and Minimum Rent (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2022 USD ($) | |
Amortization Expense [Abstract] | |
2023 | $ 28,033 |
2024 | 21,830 |
2025 | 17,611 |
2026 | 14,421 |
2027 | 11,392 |
Net Accretion [Abstract] | |
Future Accretion, Year One | 22,518 |
Future Accretion, Year Two | 20,406 |
Future Accretion, Year Three | 19,814 |
Future Accretion, Year Four | 19,098 |
Future Accretion, Year Five | $ 17,956 |
Leases (Details)
Leases (Details) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2022 USD ($) Property | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | ||
Operating Leased Assets [Line Items] | ||||
Fixed and in-substance fixed lease income | $ 851,409 | $ 797,502 | $ 807,603 | |
Variable lease income | 287,149 | 262,619 | 247,384 | |
Uncollectible straight line rent | [1] | 12,510 | 5,227 | (34,673) |
Uncollectible amounts billable in lease income | [1] | 13,841 | 23,481 | (82,367) |
Total lease income | 1,187,452 | 1,113,368 | 980,166 | |
2023 | 850,211 | |||
2024 | 768,797 | |||
2025 | 657,870 | |||
2026 | 552,735 | |||
2027 | 440,844 | |||
Thereafter | 1,579,740 | |||
Total | $ 4,850,197 | |||
Number of Properties Subject to Ground Leases | Property | 19 | |||
Last Ground Lease Expiration Date | 2101 | |||
Last Office Lease Expiration Date | 2029 | |||
Total fixed operating lease expense | $ 17,921 | 18,171 | 18,050 | |
Total variable lease expense | 2,202 | 1,647 | 1,629 | |
Total lease expense | 20,123 | 19,818 | 19,679 | |
Operating cash flows for operating leases | 14,656 | 15,165 | 15,003 | |
2023 | 14,796 | |||
2024 | 13,881 | |||
2025 | 13,681 | |||
2026 | 13,437 | |||
2027 | 12,239 | |||
Thereafter | 517,305 | |||
Total undiscounted lease liabilities | 585,339 | |||
Present value discount | (371,617) | |||
Lease liabilities | 213,722 | 215,788 | ||
Lessor [Member] | ||||
Operating Leased Assets [Line Items] | ||||
Above/below market rent and tenant rent inducement amortization, net | 22,543 | 24,539 | 42,219 | |
Ground Lease [Member] | ||||
Operating Leased Assets [Line Items] | ||||
Total fixed operating lease expense | 13,759 | 13,862 | 13,716 | |
Total variable lease expense | 1,591 | 1,032 | 1,044 | |
2023 | 10,750 | |||
2024 | 10,799 | |||
2025 | 10,801 | |||
2026 | 10,722 | |||
2027 | 10,722 | |||
Thereafter | 516,564 | |||
Total undiscounted lease liabilities | 570,358 | |||
Present value discount | (370,486) | |||
Lease liabilities | $ 199,872 | |||
Weighted average discount rate | 5.20% | |||
Weighted average remaining term (in years) | 46 years 9 months 18 days | |||
Office Lease [Member] | ||||
Operating Leased Assets [Line Items] | ||||
Total fixed operating lease expense | $ 4,162 | 4,309 | 4,334 | |
Total variable lease expense | 611 | $ 615 | $ 585 | |
2023 | 4,046 | |||
2024 | 3,082 | |||
2025 | 2,880 | |||
2026 | 2,715 | |||
2027 | 1,517 | |||
Thereafter | 741 | |||
Total undiscounted lease liabilities | 14,981 | |||
Present value discount | (1,131) | |||
Lease liabilities | $ 13,850 | |||
Weighted average discount rate | 3.60% | |||
Weighted average remaining term (in years) | 4 years 4 months 24 days | |||
[1] During the years ended December 31, 2022 and 2021 , the Company had improved rent collections following lifting of pandemic-related restrictions which resulted in more favorable income than experienced in 2020 during the height of the pandemic. |
Income Taxes - Tax Status of Di
Income Taxes - Tax Status of Dividends (Details) - $ / shares | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Schedule of Tax Status of Dividends [Line Items] | |||
Dividend per share | $ 2.525 | $ 2.410 | $ 2.380 |
Ordinary income | 100% | 92% | 100% |
Capital gain | 0% | 8% | 0% |
Additional tax status information: | |||
Allocation of Dividends, Qualified Dividend Income | 0% | 1% | 0% |
Allocation of Dividends, Section 199A Dividend | 100% | 91% | 100% |
Allocation of Dividend, Section 897 ordinary dividends | 0% | 2% | 0% |
Allocation of Dividends, Section 897 capital gains | 0% | 4% | 0% |
Parent Company [Member] | |||
Schedule of Tax Status of Dividends [Line Items] | |||
Dividend per share | $ 2.53 | $ 2.53 | $ 2.19 |
Income Taxes - Tax Status of _2
Income Taxes - Tax Status of Dividends (Parenthetical) (Details) | 12 Months Ended |
Dec. 31, 2022 | |
Income Tax Disclosure [Abstract] | |
Capital gain distribution | 42% |
Remaining capital gain distribution | 58% |
Income Taxes - Income Tax Expen
Income Taxes - Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Income Tax Disclosure [Abstract] | |||
Current income tax expense (benefit) | $ (332) | $ 620 | $ 2,157 |
Deferred income tax expense (benefit) | 293 | 421 | (891) |
Total income tax expense (benefit) | $ (39) | $ 1,041 | $ 1,266 |
Income Taxes - Income Tax Exp_2
Income Taxes - Income Tax Expense (Benefit) (Parenthetical) (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Scheduleof Componentsof Income Tax Expense Benefit [Line Items] | |||
Income tax expense (benefit) | $ (39,000) | $ 1,041,000 | $ 1,266,000 |
Other Operating Expenses [Member] | |||
Scheduleof Componentsof Income Tax Expense Benefit [Line Items] | |||
Income tax expense (benefit) | $ (39,000) | $ 943,000 | (355,000) |
Gain on Sale of Real Estate [Member] | |||
Scheduleof Componentsof Income Tax Expense Benefit [Line Items] | |||
Income tax expense (benefit) | $ 1,600,000 |
Income Taxes - Tax Reconciliati
Income Taxes - Tax Reconciliation (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Income Tax Disclosure [Abstract] | |||
Computed expected tax expense (benefit) | $ 504 | $ 544 | $ (3,665) |
State income tax, net of federal benefit | 52 | 477 | (593) |
Valuation allowance | (323) | 15 | 1,043 |
Permanent items | 1 | 1 | 5,079 |
All other items | (273) | 4 | (598) |
Total income tax expense (benefit) | (39) | 1,041 | 1,266 |
Income tax expense attributable to operations | $ (39) | $ 1,041 | $ 1,266 |
Income Taxes - Tax Reconcilia_2
Income Taxes - Tax Reconciliation (Parenthetical) (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Scheduleof Componentsof Income Tax Expense Benefit [Line Items] | |||
Income tax expense (benefit) | $ (39,000) | $ 1,041,000 | $ 1,266,000 |
Other Operating Expenses [Member] | |||
Scheduleof Componentsof Income Tax Expense Benefit [Line Items] | |||
Income tax expense (benefit) | $ (39,000) | $ 943,000 | (355,000) |
Gain on Sale of Real Estate [Member] | |||
Scheduleof Componentsof Income Tax Expense Benefit [Line Items] | |||
Income tax expense (benefit) | $ 1,600,000 |
Income Taxes - Deferred Taxes (
Income Taxes - Deferred Taxes (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Deferred Tax Assets, Net [Abstract] | ||
Fixed assets | $ 0 | $ 1,039 |
Other | 1,007 | 1,379 |
Deferred tax assets | 1,007 | 2,418 |
Valuation allowance | (1,007) | (2,418) |
Deferred tax assets, net | 0 | 0 |
Deferred Tax Liabilities, Net [Abstract] | ||
Fixed assets | (12,527) | (13,004) |
Other | (61) | (340) |
Deferred tax liabilities | (12,588) | (13,344) |
Net deferred tax liabilities | $ (12,588) | $ (13,344) |
Notes Payable and Unsecured C_3
Notes Payable and Unsecured Credit Facilities - Schedule of Debt Net of Unamortized Debt Premium (Discount) and Debt Issuance Costs (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | |
Debt Instrument [Line Items] | |||
Long-term Debt | $ 3,726,754 | $ 3,718,944 | |
Fixed Rate Mortgage Loans [Member] | |||
Debt Instrument [Line Items] | |||
Long-term Debt, Maturity Date | Mar. 01, 2032 | ||
Debt, Weighted Average Contractual Interest Rate | 3.90% | ||
Debt, Weighted Average Effective Interest Rate | 3.50% | ||
Long-term Debt | $ 342,135 | 359,414 | |
Unsecured Debt [Member] | |||
Debt Instrument [Line Items] | |||
Long-term Debt, Maturity Date | Mar. 15, 2049 | ||
Debt, Weighted Average Contractual Interest Rate | 3.80% | ||
Debt, Weighted Average Effective Interest Rate | 4% | ||
Long-term Debt | $ 3,248,373 | 3,243,991 | |
Notes Payable to Banks [Member] | |||
Debt Instrument [Line Items] | |||
Long-term Debt | $ 3,726,754 | 3,718,944 | |
Line of Credit [Member] | |||
Debt Instrument [Line Items] | |||
Long-term Debt, Maturity Date | [1] | Mar. 23, 2025 | |
Debt, Weighted Average Contractual Interest Rate | [1] | 5% | |
Debt, Weighted Average Effective Interest Rate | [1] | 5.30% | |
London Interbank Offered Rate (LIBOR) [Member] | Variable Rate Mortgage Loans [Member] | |||
Debt Instrument [Line Items] | |||
Long-term Debt, Maturity Date | [2] | Jun. 02, 2027 | |
Debt, Weighted Average Contractual Interest Rate | [2] | 3.40% | |
Debt, Weighted Average Effective Interest Rate | [2] | 3.70% | |
Long-term Debt | [2] | $ 136,246 | $ 115,539 |
[1] Weighted-average effective rate for the Line is calculated based on a fully drawn Line balance using the period end variable rate. Five of these six variable rate loans, representing $ 132.1 million of debt in the aggregate, have interest rate swaps in place to mitigate interest rate fluctuation risk. With these swap agreements, the fixed rates of the loans range f rom 2.5 % to 4.1 %. |
Notes Payable and Unsecured C_4
Notes Payable and Unsecured Credit Facilities - Schedule of Debt Net of Unamortized Debt Premium (Discount) and Debt Issuance Costs (Parentheticals) (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | |
Debt Instrument [Line Items] | |||
Long-term Debt | $ 3,726,754 | $ 3,718,944 | |
Variable Rate Mortgage Loans [Member] | London Interbank Offered Rate (LIBOR) [Member] | |||
Debt Instrument [Line Items] | |||
Long-term Debt | [1] | 136,246 | $ 115,539 |
Variable Rate Mortgage Loans [Member] | London Interbank Offered Rate (LIBOR) [Member] | Interest Rate Swap [Member] | |||
Debt Instrument [Line Items] | |||
Long-term Debt | $ 132,100 | ||
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% | ||
[1] Five of these six variable rate loans, representing $ 132.1 million of debt in the aggregate, have interest rate swaps in place to mitigate interest rate fluctuation risk. With these swap agreements, the fixed rates of the loans range f rom 2.5 % to 4.1 %. |
Notes Payable and Unsecured C_5
Notes Payable and Unsecured Credit Facilities - Additional Information (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2022 USD ($) Loan | |
Debt Instrument [Line Items] | |
Line of Credit Facility, Interest Rate Description | LIBOR plus an applicable margin of 0.865% |
Line of credit facility, convert interest rate description | the reference rate from LIBOR to SOFR plus a 0.10% market adjustment, with no changes in the applicable margin. |
Debt maturing over the next twelve months | $ 69,078 |
Number of non-recourse mortgage loans | Loan | 5 |
Line of Credit Facility, Commitment Fee Amount | 0.15% |
Non-Recourse Mortgage Loan [Member] | |
Debt Instrument [Line Items] | |
Debt maturing over the next twelve months | $ 59,400 |
Accordion Feature [Member] | |
Debt Instrument [Line Items] | |
Line of credit facility, maximum borrowing capacity | $ 1,250,000 |
Notes Payable and Unsecured C_6
Notes Payable and Unsecured Credit Facilities - Schedule of Maturities of Long-term Debt (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | |
Debt Instrument [Line Items] | |||
2023 | $ 69,078 | ||
2024 | 345,607 | ||
2025 | 297,982 | ||
2026 | 316,287 | ||
2027 | 666,703 | ||
Beyond 5 Years | 2,053,192 | ||
Unamortized debt premium/(discount) and issuance costs | (22,095) | ||
Total | 3,726,754 | $ 3,718,944 | |
Unsecured Debt [Member] | |||
Debt Instrument [Line Items] | |||
Total | 3,248,373 | $ 3,243,991 | |
Scheduled Principal Payments [Member] | Mortgages [Member] | |||
Debt Instrument [Line Items] | |||
2023 | 9,695 | ||
2024 | 4,849 | ||
2025 | 3,732 | ||
2026 | 3,922 | ||
2027 | 3,788 | ||
Beyond 5 Years | 2,873 | ||
Total | 28,859 | ||
Mortgage Loan Maturities [Member] | Mortgages [Member] | |||
Debt Instrument [Line Items] | |||
2023 | 59,383 | ||
2024 | 90,758 | ||
2025 | 44,250 | ||
2026 | 112,365 | ||
2027 | 137,915 | ||
Beyond 5 Years | 319 | ||
Unamortized debt premium/(discount) and issuance costs | 4,532 | ||
Total | 449,522 | ||
Unsecured Maturities [Member] | Unsecured Debt [Member] | |||
Debt Instrument [Line Items] | |||
2024 | [1] | 250,000 | |
2025 | [1] | 250,000 | |
2026 | [1] | 200,000 | |
2027 | [1] | 525,000 | |
Beyond 5 Years | [1] | 2,050,000 | |
Unamortized debt premium/(discount) and issuance costs | [1] | (26,627) | |
Total | [1] | $ 3,248,373 | |
[1] Includes unsecured public and private debt and unsecured credit facilities |
Derivative Financial Instrume_3
Derivative Financial Instruments (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | ||
Derivative [Line Items] | ||||
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax | $ 20,061 | $ 5,391 | $ (19,187) | |
Amount reclassified from accumulated other comprehensive loss | $ 833 | $ 4,141 | 8,790 | |
Derivative Instrument, Gain (Loss) Reclassified from AOCI into Income, Effective Portion, Statement of Income or Comprehensive Income [Extensible Enumeration] | Interest Expense | Interest Expense | ||
Interest Expense | $ 146,186 | $ 145,170 | 156,678 | |
Amount reclassified from accumulated other comprehensive loss, Early extinguishment of debt | [1] | 2,472 | ||
Early extinguishment of debt | $ 21,837 | |||
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months | 5,400 | |||
Fair Value Inputs Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | ||||
Derivative [Line Items] | ||||
Assets (Liabilities) | [2] | $ 6,575 | (2,858) | |
Derivative @ 1.303% [Member] | ||||
Derivative [Line Items] | ||||
Derivative, Inception Date | Apr. 07, 2016 | |||
Derivative, Maturity Date | Apr. 01, 2023 | |||
Derivative, Notional Amount | $ 18,637 | |||
Derivative, Description of Variable Rate Basis | LIBOR | |||
Derivative, Fixed Interest Rate | 1.303% | |||
Assets (Liabilities) | [2] | $ 152 | (175) | |
Derivative @ 1.490% [Member] | ||||
Derivative [Line Items] | ||||
Derivative, Inception Date | Dec. 01, 2016 | |||
Derivative, Maturity Date | Nov. 01, 2023 | |||
Derivative, Notional Amount | $ 31,131 | |||
Derivative, Description of Variable Rate Basis | SOFR | |||
Derivative, Fixed Interest Rate | 1.49% | |||
Assets (Liabilities) | [2] | $ 883 | (412) | |
Derivative @ 1.443% [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 | SOFR | |||
Derivative, Fixed Interest Rate | 1.443% | |||
Assets (Liabilities) | [2] | $ 1,443 | (364) | |
Derivative @ 2.261% [Member] | ||||
Derivative [Line Items] | ||||
Derivative, Inception Date | Jun. 02, 2017 | |||
Derivative, Maturity Date | Jun. 02, 2027 | |||
Derivative, Notional Amount | $ 35,446 | |||
Derivative, Description of Variable Rate Basis | SOFR | |||
Derivative, Fixed Interest Rate | 2.261% | |||
Assets (Liabilities) | [2] | $ 2,158 | $ (1,907) | |
Derivative @ 1.750% [Member] | ||||
Derivative [Line Items] | ||||
Derivative, Inception Date | [3] | Dec. 20, 2019 | ||
Derivative, Maturity Date | Dec. 19, 2026 | |||
Derivative, Notional Amount | $ 24,365 | |||
Derivative, Description of Variable Rate Basis | LIBOR | |||
Derivative, Fixed Interest Rate | 1.75% | |||
Assets (Liabilities) | [2] | $ 1,939 | ||
[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. 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. The Company assumed this interest rate swap which hedges debt also assumed with the purchase of Baederwood Shoppes in May 2022. |
Fair Value Measurements (Detail
Fair Value Measurements (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Notes payable | $ 3,726,754 | $ 3,718,944 | |
Trading Securities, Change in Unrealized Holding Gain (Loss) | (8,000) | 1,700 | $ 3,000 |
Impairment of Real Estate | (84,389) | $ (18,536) | |
Fair Value, Measurements, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Securities | 40,089 | 49,513 | |
Available-for-sale debt securities | 14,492 | 15,599 | |
Interest rate derivatives | 6,575 | ||
Total | 61,156 | 65,112 | |
Interest Rate Cash Flow Hedge Liability at Fair Value | (2,858) | ||
Fair Value, Measurements, Nonrecurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Operating properties | 140,500 | ||
Impairment of Real Estate | (84,277) | ||
Fair Value, Inputs, Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Notes Payable, Fair Value | 3,333,378 | 4,103,533 | |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale debt securities | 14,492 | 15,599 | |
Interest rate derivatives | 6,575 | ||
Total | 21,067 | 15,599 | |
Interest Rate Cash Flow Hedge Liability at Fair Value | (2,858) | ||
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Securities | 40,089 | 49,513 | |
Total | $ 40,089 | 49,513 | |
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 | $ 140,500 |
Equity and Capital - Additional
Equity and Capital - Additional Information (Details) - USD ($) | 12 Months Ended | ||||
Feb. 08, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Feb. 03, 2021 | |
Class of Stock [Line Items] | |||||
Common stock dividend declared, per share | $ 2.525 | $ 2.410 | $ 2.380 | ||
Stock repurchased and retired during period, value | $ 75,419,000 | ||||
Common stock remaining available for Issuance | 350,400,000 | ||||
Net proceeds from common stock issuance | $ 61,284,000 | $ 82,510,000 | $ 125,608,000 | ||
Stock repurchase program, authorized amount | $ 250,000,000 | ||||
Stock repurchase program expiration date | Feb. 03, 2023 | ||||
Subsequent Event [Member] | |||||
Class of Stock [Line Items] | |||||
Common stock dividend declared, per share | $ 0.65 | ||||
Common stock, dividends declared date | Feb. 08, 2023 | ||||
Common stock, dividends payable date | Apr. 05, 2023 | ||||
Common stock, dividends record date | Mar. 15, 2023 | ||||
Stock repurchase program, authorized amount | $ 250,000,000 | ||||
Stock repurchase program expiration date | Feb. 07, 2025 | ||||
ATM Equity Offering Program [Member] | Forward Equity Offering [Member] | |||||
Class of Stock [Line Items] | |||||
Number of shares issuable | 984,618 | 1,332,142 | |||
Sale of stock, average offering price | $ 65.78 | $ 63.71 | |||
Underwriting discount and offering expense | $ 3,500,000 | $ 1,100,000 | |||
Net proceeds from common stock issuance | $ 61,300,000 | $ 82,500,000 | |||
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 | $ 13,000 | ||||
Issuance of exchangeable operating partnership, units | 18,613 | ||||
Common Stock [Member] | AOCI Attributable to Parent [Member] | |||||
Class of Stock [Line Items] | |||||
Stock repurchased and retired during period, shares | 1,294,201 | ||||
Stock repurchased and retired during period, value | $ 75,400,000 | ||||
Shares repurchased weighted average price per share | $ 58.25 | ||||
Stock repurchased remaining authorized value | $ 174,600,000 |
Equity and Capital - Schedule o
Equity and Capital - Schedule of Partnership Units Outstanding (Details) - shares | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Class of Stock [Line Items] | ||
General partner units, outstanding | 171,125,000 | 171,213,000 |
Limited partner units, outstanding | 741,000 | 760,000 |
Total partnership units outstanding | 171,866,026 | 171,973,000 |
Operating Partnership [Member] | ||
Class of Stock [Line Items] | ||
General partner units, outstanding | 171,124,593 | |
Parent company, ownership percentage of outstanding common partnership units of operating partnership | 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, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs, Capitalized Amount | $ (735) | $ (666) | $ (1,119) | |
Stock-based compensation, net of capitalization | $ 16,521 | 12,515 | 13,581 | |
Share-based compensation arrangement by share-based payment award, number of shares Authorized | 5 | |||
Share-based compensation arrangement by share-based payment award, number of shares available for grant | 4.1 | |||
Restricted Stock [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Allocated Share-based Compensation Expense | [1] | $ 16,667 | 12,651 | 14,248 |
Common Stock [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Noninterest Expense Directors Fees | 589 | 530 | 452 | |
Parent Company [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Stock-based compensation, net of capitalization | $ 16,521 | $ 12,515 | $ 13,581 | |
[1] Includes amortization of the grant date fair value of restricted stock awards over the respective vesting periods |
Stock-Based Compensation Restri
Stock-Based Compensation Restricted Stock (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 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 | 43.10% | 42.60% | 18.50% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 1.39% | 0.18% | 1.30% |
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 | 691,862 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | (250,491) | ||
Stock Issued During Period, Shares, Restricted Stock Award, Forfeited | (11,306) | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 711,699 | 691,862 | |
Non-Vested Restricted Stock Intrinsic Value | $ 44,481 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value | $ 71.05 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value | 62.65 | ||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ 72.86 | $ 46.55 | $ 64.14 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value | $ 17,797 | $ 10,939 | $ 14,423 |
Share-based Payment Arrangement, Non-vested Award, Excluding Option, Unrecognized, Amount | $ 16,600 | ||
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 | (148,048) | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 71.36 | ||
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 | (15,674) | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 71.68 | ||
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 | (112,759) | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 74.98 | ||
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 | (5,153) | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 71.58 | ||
Nonvested Awards Time Based Vesting [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Time-based awards vesting description | Time-based awards vest beginning on the first anniversary following the grant date over a one or four year service period |
Saving and Retirement Plans 401
Saving and Retirement Plans 401K Retirement Plan (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Defined contribution plan, percentage of employee deferrals to company matching contributions | 100% | ||
Profit Sharing Contribution, Vesting Period | 3 years | ||
Defined Contribution Plan, Cost | $ 4,400,000 | $ 4,100,000 | $ 3,500,000 |
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, 2022 | Dec. 31, 2021 |
Other Assets [Member] | ||
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items] | ||
Securities | $ 36,163 | $ 44,464 |
Accounts Payable and Other Liabilities [Member] | ||
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items] | ||
Deferred compensation obligation | $ 36,085 | $ 44,388 |
Earnings per Share and Unit (De
Earnings per Share and Unit (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | ||
Earnings Per Share Basic [Line Items] | ||||
Income per common share - basic | $ 2.82 | $ 2.12 | $ 0.27 | |
Income per common share - diluted | $ 2.81 | $ 2.12 | $ 0.26 | |
Weighted Average Limited Partnership Units Outstanding, Basic | 748,336 | 761,955 | 765,046 | |
Continuing Operations [Member] | Parent Company [Member] | ||||
Earnings Per Share Basic [Line Items] | ||||
Income attributable to common stockholders/unit holders - basic | $ 482,865 | $ 361,411 | $ 44,889 | |
Income attributable to common stockholders/unit holders - diluted | $ 482,865 | $ 361,411 | $ 44,889 | |
Weighted average common shares/units outstanding for basic EPS/EPU | 171,404,000 | 170,236,000 | 169,231,000 | |
Weighted average common shares/units outstanding for diluted EPS/EPU | [1],[2] | 171,791,000 | 170,694,000 | 169,460,000 |
Income per common share - basic | $ 2.82 | $ 2.12 | $ 0.27 | |
Income per common share - diluted | $ 2.81 | $ 2.12 | $ 0.26 | |
Continuing Operations [Member] | Partnership Interest [Member] | ||||
Earnings Per Share Basic [Line Items] | ||||
Income attributable to common stockholders/unit holders - basic | $ 484,970 | $ 363,026 | $ 45,092 | |
Income attributable to common stockholders/unit holders - diluted | $ 484,970 | $ 363,026 | $ 45,092 | |
Weighted average common shares/units outstanding for basic EPS/EPU | 172,152,000 | 170,998,000 | 169,997,000 | |
Weighted average common shares/units outstanding for diluted EPS/EPU | [1],[2] | 172,540,000 | 171,456,000 | 170,225,000 |
Income per common share - basic | $ 2.82 | $ 2.12 | $ 0.27 | |
Income per common share - diluted | $ 2.81 | $ 2.12 | $ 0.26 | |
[1] Includes the dilutive impact of unvested restricted stock. Using the treasury stock method, weighted average common shares outstanding for basic and diluted earnings per share exclude 1.0 million shares issuable under the forward ATM equity offering outstanding during 2021 as they would be anti-dilutive. |
Earnings per Share and Unit (Pa
Earnings per Share and Unit (Parenthetical) (Details) - ATM Equity Offering Program [Member] shares in Millions | 12 Months Ended |
Dec. 31, 2021 shares | |
Earnings Per Share Basic [Line Items] | |
Anti-dilutive securities excludes from earnings per share amount | 1 |
Partnership Interest [Member] | |
Earnings Per Share Basic [Line Items] | |
Anti-dilutive securities excludes from earnings per share amount | 1 |
Commitments and Contingencies (
Commitments and Contingencies (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Commitments and Contingencies Disclosure [Abstract] | ||
Line of Credit Facility, Maximum Borrowing Capacity | $ 50 | |
Letters of Credit Outstanding, Amount | $ 9.4 | $ 9.4 |
Schedule III - Consolidated R_2
Schedule III - Consolidated Real Estate and Accumulated Depreciation (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Initial Cost | |||
Land | $ 5,041,114 | ||
Building & Improvements | 5,911,477 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 905,473 | ||
Total Cost | |||
Land | 5,087,104 | ||
Building & Improvements | 6,770,960 | ||
Total | 11,858,064 | $ 11,495,581 | $ 11,101,858 |
Accumulated Depreciation | (2,415,860) | (2,174,963) | (1,994,108) |
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 9,442,204 | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (473,849) | ||
Aggregate cost for Federal income tax purposes | 9,700 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Beginning balance | 11,495,581 | 11,101,858 | 11,095,294 |
Acquired properties and land | 224,653 | 479,708 | 39,087 |
Developments and improvements | 171,629 | 172,012 | 154,657 |
Disposal of building and tenant improvements | (29,523) | (10,898) | (35,034) |
Sale of properties | (4,276) | (107,090) | (95,780) |
Properties held for sale | (50,873) | (38,122) | |
Provision for impairment | (89,136) | (18,244) | |
Ending balance | 11,858,064 | 11,495,581 | 11,101,858 |
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Beginning balance | 2,174,963 | 1,994,108 | 1,766,162 |
Depreciation expense | 270,520 | 253,437 | 278,861 |
Disposal of building and tenant improvements | (29,523) | (10,898) | (35,034) |
Sale of properties | (100) | (28,715) | (10,812) |
Accumulated depreciation related to properties held for sale | (28,110) | (4,357) | |
Provision for impairment | (4,859) | (712) | |
Ending balance | $ 2,415,860 | 2,174,963 | $ 1,994,108 |
Building and Improvements [Member] | |||
Total Cost | |||
Property, plant and equipment, useful life | 40 years | ||
101 7th Avenue [Member] | |||
Initial Cost | |||
Land | $ 48,340 | ||
Building & Improvements | 34,895 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (57,260) | ||
Total Cost | |||
Land | 15,378 | ||
Building & Improvements | 10,597 | ||
Total | 25,975 | ||
Accumulated Depreciation | (1,550) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 24,425 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 25,975 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 1,550 | ||
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 | 33 | ||
Total Cost | |||
Land | 40,560 | ||
Building & Improvements | 25,650 | ||
Total | 66,210 | ||
Accumulated Depreciation | (4,361) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 61,849 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 66,210 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 4,361 | ||
1225-1239 Second Ave [Member] | |||
Initial Cost | |||
Land | 23,033 | ||
Building & Improvements | 17,173 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (33) | ||
Total Cost | |||
Land | 23,033 | ||
Building & Improvements | 17,140 | ||
Total | 40,173 | ||
Accumulated Depreciation | (3,112) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 37,061 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 40,173 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 3,112 | ||
200 Potrero [Member] | |||
Initial Cost | |||
Land | 4,860 | ||
Building & Improvements | 2,251 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 135 | ||
Total Cost | |||
Land | 4,860 | ||
Building & Improvements | 2,386 | ||
Total | 7,246 | ||
Accumulated Depreciation | (450) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 6,796 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 7,246 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 450 | ||
22 Crescent Road [Member] | |||
Initial Cost | |||
Land | 2,198 | ||
Building & Improvements | 272 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (318) | ||
Total Cost | |||
Land | 2,152 | ||
Total | 2,152 | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 2,152 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 2,152 | ||
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 | 1,743 | ||
Total Cost | |||
Land | 30,812 | ||
Building & Improvements | 37,521 | ||
Total | 68,333 | ||
Accumulated Depreciation | (29,841) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 38,492 | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (80,812) | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 68,333 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 29,841 | ||
6401 Roosevelt [Member] | |||
Initial Cost | |||
Land | 2,685 | ||
Building & Improvements | 934 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 193 | ||
Total Cost | |||
Land | 2,685 | ||
Building & Improvements | 1,127 | ||
Total | 3,812 | ||
Accumulated Depreciation | (88) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 3,724 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 3,812 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 88 | ||
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 | 271 | ||
Total Cost | |||
Land | 16,614 | ||
Building & Improvements | 24,442 | ||
Total | 41,056 | ||
Accumulated Depreciation | (4,272) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 36,784 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 41,056 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 4,272 | ||
91 Danbury Road [Member] | |||
Initial Cost | |||
Land | 732 | ||
Building & Improvements | 851 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 46 | ||
Total Cost | |||
Land | 732 | ||
Building & Improvements | 897 | ||
Total | 1,629 | ||
Accumulated Depreciation | (205) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 1,424 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 1,629 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 205 | ||
Alafaya Village [Member] | |||
Initial Cost | |||
Land | 3,004 | ||
Building & Improvements | 5,852 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 215 | ||
Total Cost | |||
Land | 3,004 | ||
Building & Improvements | 6,067 | ||
Total | 9,071 | ||
Accumulated Depreciation | (1,188) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 7,883 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 9,071 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 1,188 | ||
Alden Bridge [Member] | |||
Initial Cost | |||
Land | 17,014 | ||
Building & Improvements | 21,958 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 597 | ||
Total Cost | |||
Land | 17,014 | ||
Building & Improvements | 22,555 | ||
Total | 39,569 | ||
Accumulated Depreciation | (1,436) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 38,133 | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (26,000) | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 39,569 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 1,436 | ||
Amerige Heights Town Center [Member] | |||
Initial Cost | |||
Land | 10,109 | ||
Building & Improvements | 11,288 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,211 | ||
Total Cost | |||
Land | 10,109 | ||
Building & Improvements | 12,499 | ||
Total | 22,608 | ||
Accumulated Depreciation | (6,361) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 16,247 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 22,608 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 6,361 | ||
Anastasia Plaza [Member] | |||
Initial Cost | |||
Land | 9,065 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,025 | ||
Total Cost | |||
Land | 3,338 | ||
Building & Improvements | 6,752 | ||
Total | 10,090 | ||
Accumulated Depreciation | (3,587) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 6,503 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 10,090 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 3,587 | ||
Apple Valley Square [Member] | |||
Initial Cost | |||
Land | 5,438 | ||
Building & Improvements | 21,328 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (56) | ||
Total Cost | |||
Land | 5,382 | ||
Building & Improvements | 21,328 | ||
Total | 26,710 | ||
Accumulated Depreciation | (1,196) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 25,514 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 26,710 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 1,196 | ||
Ashford Place [Member] | |||
Initial Cost | |||
Land | 2,584 | ||
Building & Improvements | 9,865 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,126 | ||
Total Cost | |||
Land | 2,584 | ||
Building & Improvements | 10,991 | ||
Total | 13,575 | ||
Accumulated Depreciation | (9,016) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 4,559 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 13,575 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 9,016 | ||
Atlantic Village [Member] | |||
Initial Cost | |||
Land | 4,282 | ||
Building & Improvements | 18,827 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 2,093 | ||
Total Cost | |||
Land | 4,868 | ||
Building & Improvements | 20,334 | ||
Total | 25,202 | ||
Accumulated Depreciation | (5,198) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 20,004 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 25,202 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 5,198 | ||
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 | 11,129 | ||
Total Cost | |||
Land | 9,486 | ||
Building & Improvements | 14,853 | ||
Total | 24,339 | ||
Accumulated Depreciation | (4,497) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 19,842 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 24,339 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 4,497 | ||
Aventura Square [Member] | |||
Initial Cost | |||
Land | 88,098 | ||
Building & Improvements | 20,771 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,799 | ||
Total Cost | |||
Land | 89,657 | ||
Building & Improvements | 21,011 | ||
Total | 110,668 | ||
Accumulated Depreciation | (4,541) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 106,127 | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (2,340) | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 110,668 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 4,541 | ||
Baederwood Shopping Center [Member] | |||
Initial Cost | |||
Land | 12,016 | ||
Building & Improvements | 33,556 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 323 | ||
Total Cost | |||
Land | 12,016 | ||
Building & Improvements | 33,879 | ||
Total | 45,895 | ||
Accumulated Depreciation | (859) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 45,036 | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (24,365) | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 45,895 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 859 | ||
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 | 14,057 | ||
Total Cost | |||
Land | 27,758 | ||
Building & Improvements | 43,211 | ||
Total | 70,969 | ||
Accumulated Depreciation | (19,638) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 51,331 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 70,969 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 19,638 | ||
Banco Popular Building [Member] | |||
Initial Cost | |||
Land | 2,160 | ||
Building & Improvements | 1,137 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (1,294) | ||
Total Cost | |||
Land | 2,003 | ||
Total | 2,003 | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 2,003 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 2,003 | ||
Belleview Square [Member] | |||
Initial Cost | |||
Land | 8,132 | ||
Building & Improvements | 9,756 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 3,942 | ||
Total Cost | |||
Land | 8,323 | ||
Building & Improvements | 13,507 | ||
Total | 21,830 | ||
Accumulated Depreciation | (10,116) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 11,714 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 21,830 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 10,116 | ||
Belmont Chase [Member] | |||
Initial Cost | |||
Land | 13,881 | ||
Building & Improvements | 17,193 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (368) | ||
Total Cost | |||
Land | 14,372 | ||
Building & Improvements | 16,334 | ||
Total | 30,706 | ||
Accumulated Depreciation | (8,092) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 22,614 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 30,706 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 8,092 | ||
Berkshire Commons [Member] | |||
Initial Cost | |||
Land | 2,295 | ||
Building & Improvements | 9,551 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 2,957 | ||
Total Cost | |||
Land | 2,965 | ||
Building & Improvements | 11,838 | ||
Total | 14,803 | ||
Accumulated Depreciation | (9,463) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 5,340 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 14,803 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 9,463 | ||
Bethany Park Place [Member] | |||
Initial Cost | |||
Land | 4,832 | ||
Building & Improvements | 12,405 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 166 | ||
Total Cost | |||
Land | 4,832 | ||
Building & Improvements | 12,571 | ||
Total | 17,403 | ||
Accumulated Depreciation | (835) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 16,568 | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (10,200) | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 17,403 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 835 | ||
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 | (56) | ||
Total Cost | |||
Land | 10,371 | ||
Building & Improvements | 5,192 | ||
Total | 15,563 | ||
Accumulated Depreciation | (1,241) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 14,322 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 15,563 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 1,241 | ||
Bird Ludlam [Member] | |||
Initial Cost | |||
Land | 42,663 | ||
Building & Improvements | 38,481 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 935 | ||
Total Cost | |||
Land | 42,663 | ||
Building & Improvements | 39,416 | ||
Total | 82,079 | ||
Accumulated Depreciation | (8,188) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 73,891 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 82,079 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 8,188 | ||
Black Rock [Member] | |||
Initial Cost | |||
Land | 22,251 | ||
Building & Improvements | 20,815 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 497 | ||
Total Cost | |||
Land | 22,251 | ||
Building & Improvements | 21,312 | ||
Total | 43,563 | ||
Accumulated Depreciation | (6,766) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 36,797 | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (18,637) | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 43,563 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 6,766 | ||
Blakeney Town Center (Fka Blakeney Shopping Center) [Member] | |||
Initial Cost | |||
Land | 82,411 | ||
Building & Improvements | 89,165 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,431 | ||
Total Cost | |||
Land | 82,411 | ||
Building & Improvements | 90,596 | ||
Total | 173,007 | ||
Accumulated Depreciation | (4,278) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 168,729 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 173,007 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 4,278 | ||
Bloomingdale Square [Member] | |||
Initial Cost | |||
Land | 3,940 | ||
Building & Improvements | 14,912 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 22,981 | ||
Total Cost | |||
Land | 8,639 | ||
Building & Improvements | 33,194 | ||
Total | 41,833 | ||
Accumulated Depreciation | (12,435) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 29,398 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 41,833 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 12,435 | ||
Blossom Valley [Member] | |||
Initial Cost | |||
Land | 31,988 | ||
Building & Improvements | 5,850 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 767 | ||
Total Cost | |||
Land | 31,988 | ||
Building & Improvements | 6,617 | ||
Total | 38,605 | ||
Accumulated Depreciation | (515) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 38,090 | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (22,300) | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 38,605 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 515 | ||
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 | 274 | ||
Total Cost | |||
Land | 43,888 | ||
Building & Improvements | 10,000 | ||
Total | 53,888 | ||
Accumulated Depreciation | (2,903) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 50,985 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 53,888 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 2,903 | ||
Boulevard Center [Member] | |||
Initial Cost | |||
Land | 3,659 | ||
Building & Improvements | 10,787 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 3,001 | ||
Total Cost | |||
Land | 3,659 | ||
Building & Improvements | 13,788 | ||
Total | 17,447 | ||
Accumulated Depreciation | (9,205) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 8,242 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 17,447 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 9,205 | ||
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 | 5,203 | ||
Total Cost | |||
Land | 3,606 | ||
Building & Improvements | 15,461 | ||
Total | 19,067 | ||
Accumulated Depreciation | (9,494) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 9,573 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 19,067 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 9,494 | ||
Boynton Plaza [Member] | |||
Initial Cost | |||
Land | 12,879 | ||
Building & Improvements | 20,713 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 280 | ||
Total Cost | |||
Land | 12,879 | ||
Building & Improvements | 20,993 | ||
Total | 33,872 | ||
Accumulated Depreciation | (4,581) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 29,291 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 33,872 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 4,581 | ||
Brentwood Plaza [Member] | |||
Initial Cost | |||
Land | 2,788 | ||
Building & Improvements | 3,473 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 357 | ||
Total Cost | |||
Land | 2,788 | ||
Building & Improvements | 3,830 | ||
Total | 6,618 | ||
Accumulated Depreciation | (1,897) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 4,721 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 6,618 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 1,897 | ||
Briarcliff La Vista [Member] | |||
Initial Cost | |||
Land | 694 | ||
Building & Improvements | 3,292 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 600 | ||
Total Cost | |||
Land | 694 | ||
Building & Improvements | 3,892 | ||
Total | 4,586 | ||
Accumulated Depreciation | (3,407) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 1,179 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 4,586 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 3,407 | ||
Briarcliff Village [Member] | |||
Initial Cost | |||
Land | 4,597 | ||
Building & Improvements | 24,836 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 5,750 | ||
Total Cost | |||
Land | 5,519 | ||
Building & Improvements | 29,664 | ||
Total | 35,183 | ||
Accumulated Depreciation | (21,385) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 13,798 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 35,183 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 21,385 | ||
Brick Walk [Member] | |||
Initial Cost | |||
Land | 25,299 | ||
Building & Improvements | 41,995 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 2,071 | ||
Total Cost | |||
Land | 25,299 | ||
Building & Improvements | 44,066 | ||
Total | 69,365 | ||
Accumulated Depreciation | (12,220) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 57,145 | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (31,131) | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 69,365 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 12,220 | ||
BridgeMill Market [Member] | |||
Initial Cost | |||
Land | 7,521 | ||
Building & Improvements | 13,306 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 969 | ||
Total Cost | |||
Land | 7,522 | ||
Building & Improvements | 14,274 | ||
Total | 21,796 | ||
Accumulated Depreciation | (3,693) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 18,103 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 21,796 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 3,693 | ||
Bridgeton [Member] | |||
Initial Cost | |||
Land | 3,033 | ||
Building & Improvements | 8,137 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 621 | ||
Total Cost | |||
Land | 3,067 | ||
Building & Improvements | 8,724 | ||
Total | 11,791 | ||
Accumulated Depreciation | (3,743) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 8,048 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 11,791 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 3,743 | ||
Brighten Park [Member] | |||
Initial Cost | |||
Land | 3,983 | ||
Building & Improvements | 18,687 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 11,395 | ||
Total Cost | |||
Land | 4,234 | ||
Building & Improvements | 29,831 | ||
Total | 34,065 | ||
Accumulated Depreciation | (21,759) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 12,306 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 34,065 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 21,759 | ||
Broadway Plaza [Member] | |||
Initial Cost | |||
Land | 40,723 | ||
Building & Improvements | 42,170 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 2,100 | ||
Total Cost | |||
Land | 40,723 | ||
Building & Improvements | 44,270 | ||
Total | 84,993 | ||
Accumulated Depreciation | (9,024) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 75,969 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 84,993 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 9,024 | ||
Brooklyn Station on Riverside [Member] | |||
Initial Cost | |||
Land | 7,019 | ||
Building & Improvements | 8,688 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 283 | ||
Total Cost | |||
Land | 6,998 | ||
Building & Improvements | 8,992 | ||
Total | 15,990 | ||
Accumulated Depreciation | (3,053) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 12,937 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 15,990 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 3,053 | ||
Brookside Plaza [Member] | |||
Initial Cost | |||
Land | 35,161 | ||
Building & Improvements | 17,494 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 6,104 | ||
Total Cost | |||
Land | 36,163 | ||
Building & Improvements | 22,596 | ||
Total | 58,759 | ||
Accumulated Depreciation | (6,220) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 52,539 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 58,759 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 6,220 | ||
Buckhead Court [Member] | |||
Initial Cost | |||
Land | 1,417 | ||
Building & Improvements | 7,432 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 4,422 | ||
Total Cost | |||
Land | 1,417 | ||
Building & Improvements | 11,854 | ||
Total | 13,271 | ||
Accumulated Depreciation | (9,809) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 3,462 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 13,271 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 9,809 | ||
Buckhead Landing [Member] | |||
Initial Cost | |||
Land | 45,502 | ||
Building & Improvements | 16,642 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 103 | ||
Total Cost | |||
Land | 45,502 | ||
Building & Improvements | 16,745 | ||
Total | 62,247 | ||
Accumulated Depreciation | (6,221) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 56,026 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 62,247 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 6,221 | ||
Buckhead Station [Member] | |||
Initial Cost | |||
Land | 70,411 | ||
Building & Improvements | 36,518 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 2,094 | ||
Total Cost | |||
Land | 70,448 | ||
Building & Improvements | 38,575 | ||
Total | 109,023 | ||
Accumulated Depreciation | (10,036) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 98,987 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 109,023 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 10,036 | ||
Buckley Square [Member] | |||
Initial Cost | |||
Land | 2,970 | ||
Building & Improvements | 5,978 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,402 | ||
Total Cost | |||
Land | 2,970 | ||
Building & Improvements | 7,380 | ||
Total | 10,350 | ||
Accumulated Depreciation | (4,999) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 5,351 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 10,350 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 4,999 | ||
Caligo Crossing [Member] | |||
Initial Cost | |||
Land | 2,459 | ||
Building & Improvements | 4,897 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 148 | ||
Total Cost | |||
Land | 2,546 | ||
Building & Improvements | 4,958 | ||
Total | 7,504 | ||
Accumulated Depreciation | (3,993) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 3,511 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 7,504 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 3,993 | ||
Cambridge Square [Member] | |||
Initial Cost | |||
Land | 774 | ||
Building & Improvements | 4,347 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 605 | ||
Total Cost | |||
Land | 774 | ||
Building & Improvements | 4,952 | ||
Total | 5,726 | ||
Accumulated Depreciation | (3,437) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 2,289 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 5,726 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 3,437 | ||
Carmel Commons [Member] | |||
Initial Cost | |||
Land | 2,466 | ||
Building & Improvements | 12,548 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 5,206 | ||
Total Cost | |||
Land | 3,422 | ||
Building & Improvements | 16,798 | ||
Total | 20,220 | ||
Accumulated Depreciation | (11,975) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 8,245 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 20,220 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 11,975 | ||
Carriage Gate [Member[ | |||
Initial Cost | |||
Land | 833 | ||
Building & Improvements | 4,974 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 3,224 | ||
Total Cost | |||
Land | 1,302 | ||
Building & Improvements | 7,729 | ||
Total | 9,031 | ||
Accumulated Depreciation | (7,203) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 1,828 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 9,031 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 7,203 | ||
Carytown Exchange [Member] | |||
Initial Cost | |||
Land | 23,720 | ||
Building & Improvements | 19,270 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (53) | ||
Total Cost | |||
Land | 23,721 | ||
Building & Improvements | 19,216 | ||
Total | 42,937 | ||
Accumulated Depreciation | (2,641) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 40,296 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 42,937 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 2,641 | ||
Cashmere Corners [Member] | |||
Initial Cost | |||
Land | 3,187 | ||
Building & Improvements | 9,397 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 647 | ||
Total Cost | |||
Land | 3,187 | ||
Building & Improvements | 10,044 | ||
Total | 13,231 | ||
Accumulated Depreciation | (2,638) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 10,593 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 13,231 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 2,638 | ||
Cedar Commons [Member] | |||
Initial Cost | |||
Land | 4,704 | ||
Building & Improvements | 16,748 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 54 | ||
Total Cost | |||
Land | 4,704 | ||
Building & Improvements | 16,802 | ||
Total | 21,506 | ||
Accumulated Depreciation | (728) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 20,778 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 21,506 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 728 | ||
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 | 1,295 | ||
Total Cost | |||
Land | 5,694 | ||
Building & Improvements | 13,764 | ||
Total | 19,458 | ||
Accumulated Depreciation | (7,161) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 12,297 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 19,458 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 7,161 | ||
Charlotte Square [Member] | |||
Initial Cost | |||
Land | 1,141 | ||
Building & Improvements | 6,845 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,008 | ||
Total Cost | |||
Land | 1,141 | ||
Building & Improvements | 7,853 | ||
Total | 8,994 | ||
Accumulated Depreciation | (2,308) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 6,686 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 8,994 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 2,308 | ||
Chasewood Plaza [Member] | |||
Initial Cost | |||
Land | 4,612 | ||
Building & Improvements | 20,829 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 5,603 | ||
Total Cost | |||
Land | 6,886 | ||
Building & Improvements | 24,158 | ||
Total | 31,044 | ||
Accumulated Depreciation | (20,840) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 10,204 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 31,044 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 20,840 | ||
Chastain Square [Member] | |||
Initial Cost | |||
Land | 30,074 | ||
Building & Improvements | 12,644 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 2,307 | ||
Total Cost | |||
Land | 30,074 | ||
Building & Improvements | 14,951 | ||
Total | 45,025 | ||
Accumulated Depreciation | (4,491) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 40,534 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 45,025 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 4,491 | ||
Cherry Grove [Member] | |||
Initial Cost | |||
Land | 3,533 | ||
Building & Improvements | 15,862 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 5,080 | ||
Total Cost | |||
Land | 3,533 | ||
Building & Improvements | 20,942 | ||
Total | 24,475 | ||
Accumulated Depreciation | (13,651) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 10,824 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 24,475 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 13,651 | ||
Chimney Rock [Member] | |||
Initial Cost | |||
Land | 23,623 | ||
Building & Improvements | 48,200 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 440 | ||
Total Cost | |||
Land | 23,623 | ||
Building & Improvements | 48,640 | ||
Total | 72,263 | ||
Accumulated Depreciation | (15,623) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 56,640 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 72,263 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 15,623 | ||
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 | (183) | ||
Total Cost | |||
Land | 22,930 | ||
Building & Improvements | 9,211 | ||
Total | 32,141 | ||
Accumulated Depreciation | (2,140) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 30,001 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 32,141 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 2,140 | ||
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 | 153 | ||
Total Cost | |||
Land | 29,303 | ||
Building & Improvements | 18,590 | ||
Total | 47,893 | ||
Accumulated Depreciation | (2,210) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 45,683 | ||
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 | 47,893 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 2,210 | ||
CityLine Market [Member] | |||
Initial Cost | |||
Land | 12,208 | ||
Building & Improvements | 15,839 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 341 | ||
Total Cost | |||
Land | 12,306 | ||
Building & Improvements | 16,082 | ||
Total | 28,388 | ||
Accumulated Depreciation | (5,640) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 22,748 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 28,388 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 5,640 | ||
CityLine Market Ph II [Member] | |||
Initial Cost | |||
Land | 2,744 | ||
Building & Improvements | 3,081 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 104 | ||
Total Cost | |||
Land | 2,744 | ||
Building & Improvements | 3,185 | ||
Total | 5,929 | ||
Accumulated Depreciation | (997) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 4,932 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 5,929 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 997 | ||
Clayton Valley Shopping Center [Member] | |||
Initial Cost | |||
Land | 24,189 | ||
Building & Improvements | 35,422 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 2,248 | ||
Total Cost | |||
Land | 24,538 | ||
Building & Improvements | 37,321 | ||
Total | 61,859 | ||
Accumulated Depreciation | (29,371) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 32,488 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 61,859 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 29,371 | ||
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 | 702 | ||
Total Cost | |||
Land | 49,630 | ||
Building & Improvements | 20,326 | ||
Total | 69,956 | ||
Accumulated Depreciation | (4,310) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 65,646 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 69,956 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 4,310 | ||
Clybourn Commons [Member] | |||
Initial Cost | |||
Land | 15,056 | ||
Building & Improvements | 5,594 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 496 | ||
Total Cost | |||
Land | 15,056 | ||
Building & Improvements | 6,090 | ||
Total | 21,146 | ||
Accumulated Depreciation | (2,008) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 19,138 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 21,146 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 2,008 | ||
Cochran's Crossing [Member] | |||
Initial Cost | |||
Land | 13,154 | ||
Building & Improvements | 12,315 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 2,549 | ||
Total Cost | |||
Land | 13,154 | ||
Building & Improvements | 14,864 | ||
Total | 28,018 | ||
Accumulated Depreciation | (11,607) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 16,411 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 28,018 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 11,607 | ||
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 | 874 | ||
Total Cost | |||
Land | 28,627 | ||
Building & Improvements | 11,269 | ||
Total | 39,896 | ||
Accumulated Depreciation | (2,312) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 37,584 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 39,896 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 2,312 | ||
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 | 1,616 | ||
Total Cost | |||
Land | 31,272 | ||
Building & Improvements | 37,669 | ||
Total | 68,941 | ||
Accumulated Depreciation | (7,356) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 61,585 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 68,941 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 7,356 | ||
Copps Hill Plaza [Member] | |||
Initial Cost | |||
Land | 29,515 | ||
Building & Improvements | 40,673 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 2,411 | ||
Total Cost | |||
Land | 29,514 | ||
Building & Improvements | 43,085 | ||
Total | 72,599 | ||
Accumulated Depreciation | (7,436) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 65,163 | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (8,962) | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 72,599 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 7,436 | ||
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 | 2,441 | ||
Total Cost | |||
Land | 15,332 | ||
Building & Improvements | 17,231 | ||
Total | 32,563 | ||
Accumulated Depreciation | (3,981) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 28,582 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 32,563 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 3,981 | ||
Corkscrew Village [Member] | |||
Initial Cost | |||
Land | 8,407 | ||
Building & Improvements | 8,004 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 851 | ||
Total Cost | |||
Land | 8,407 | ||
Building & Improvements | 8,855 | ||
Total | 17,262 | ||
Accumulated Depreciation | (4,397) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 12,865 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 17,262 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 4,397 | ||
Cornerstone Square [Member] | |||
Initial Cost | |||
Land | 1,772 | ||
Building & Improvements | 6,944 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,678 | ||
Total Cost | |||
Land | 1,772 | ||
Building & Improvements | 8,622 | ||
Total | 10,394 | ||
Accumulated Depreciation | (6,862) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 3,532 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 10,394 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 6,862 | ||
Corral Hollow [Member] | |||
Initial Cost | |||
Land | 8,887 | ||
Building & Improvements | 24,121 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 39 | ||
Total Cost | |||
Land | 8,887 | ||
Building & Improvements | 24,160 | ||
Total | 33,047 | ||
Accumulated Depreciation | (706) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 32,341 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 33,047 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 706 | ||
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 | 472 | ||
Total Cost | |||
Land | 6,696 | ||
Building & Improvements | 12,694 | ||
Total | 19,390 | ||
Accumulated Depreciation | (7,892) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 11,498 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 19,390 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 7,892 | ||
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 | 194 | ||
Total Cost | |||
Land | 18,713 | ||
Building & Improvements | 20,567 | ||
Total | 39,280 | ||
Accumulated Depreciation | (2,143) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 37,137 | ||
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 | 39,280 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 2,143 | ||
Countryside Shops [Member] | |||
Initial Cost | |||
Land | 17,982 | ||
Building & Improvements | 35,574 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 13,718 | ||
Total Cost | |||
Land | 23,175 | ||
Building & Improvements | 44,099 | ||
Total | 67,274 | ||
Accumulated Depreciation | (12,190) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 55,084 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 67,274 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 12,190 | ||
Courtyard Shopping Center [Member] | |||
Initial Cost | |||
Land | 5,867 | ||
Building & Improvements | 4 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 3 | ||
Total Cost | |||
Land | 5,867 | ||
Building & Improvements | 7 | ||
Total | 5,874 | ||
Accumulated Depreciation | (3) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 5,871 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 5,874 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 3 | ||
Culver Center [Member] | |||
Initial Cost | |||
Land | 108,841 | ||
Building & Improvements | 32,308 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 2,329 | ||
Total Cost | |||
Land | 108,841 | ||
Building & Improvements | 34,637 | ||
Total | 143,478 | ||
Accumulated Depreciation | (7,932) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 135,546 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 143,478 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 7,932 | ||
Danbury Green [Member] | |||
Initial Cost | |||
Land | 30,303 | ||
Building & Improvements | 19,255 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,038 | ||
Total Cost | |||
Land | 30,303 | ||
Building & Improvements | 20,293 | ||
Total | 50,596 | ||
Accumulated Depreciation | (4,172) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 46,424 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 50,596 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 4,172 | ||
Dardenne Crossing [Member] | |||
Initial Cost | |||
Land | 4,194 | ||
Building & Improvements | 4,005 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 727 | ||
Total Cost | |||
Land | 4,343 | ||
Building & Improvements | 4,583 | ||
Total | 8,926 | ||
Accumulated Depreciation | (2,563) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 6,363 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 8,926 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 2,563 | ||
Darinor Plaza [Member] | |||
Initial Cost | |||
Land | 693 | ||
Building & Improvements | 32,140 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,236 | ||
Total Cost | |||
Land | 711 | ||
Building & Improvements | 33,358 | ||
Total | 34,069 | ||
Accumulated Depreciation | (7,099) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 26,970 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 34,069 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 7,099 | ||
Diablo Plaza [Member] | |||
Initial Cost | |||
Land | 5,300 | ||
Building & Improvements | 8,181 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 2,499 | ||
Total Cost | |||
Land | 5,300 | ||
Building & Improvements | 10,680 | ||
Total | 15,980 | ||
Accumulated Depreciation | (6,750) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 9,230 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 15,980 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 6,750 | ||
Dunwoody Hall [Member] | |||
Initial Cost | |||
Land | 15,145 | ||
Building & Improvements | 12,110 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 189 | ||
Total Cost | |||
Land | 15,145 | ||
Building & Improvements | 12,299 | ||
Total | 27,444 | ||
Accumulated Depreciation | (700) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 26,744 | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (13,800) | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 27,444 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 700 | ||
Dunwoody Village [Member] | |||
Initial Cost | |||
Land | 3,342 | ||
Building & Improvements | 15,934 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 6,409 | ||
Total Cost | |||
Land | 3,342 | ||
Building & Improvements | 22,343 | ||
Total | 25,685 | ||
Accumulated Depreciation | (17,574) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 8,111 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 25,685 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 17,574 | ||
East Meadow [Member] | |||
Initial Cost | |||
Land | 12,325 | ||
Building & Improvements | 21,378 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 91 | ||
Total Cost | |||
Land | 12,267 | ||
Building & Improvements | 21,527 | ||
Total | 33,794 | ||
Accumulated Depreciation | (946) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 32,848 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 33,794 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 946 | ||
East Meadow Plaza [Member] | |||
Initial Cost | |||
Land | 13,135 | ||
Building & Improvements | 25,070 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (29) | ||
Total Cost | |||
Land | 13,135 | ||
Building & Improvements | 25,041 | ||
Total | 38,176 | ||
Accumulated Depreciation | (380) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 37,796 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 38,176 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 380 | ||
East Pointe [Member] | |||
Initial Cost | |||
Land | 1,730 | ||
Building & Improvements | 7,189 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 2,607 | ||
Total Cost | |||
Land | 1,941 | ||
Building & Improvements | 9,585 | ||
Total | 11,526 | ||
Accumulated Depreciation | (7,081) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 4,445 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 11,526 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 7,081 | ||
East San Marco [Member] | |||
Initial Cost | |||
Land | 4,517 | ||
Building & Improvements | 13,528 | ||
Total Cost | |||
Land | 4,517 | ||
Building & Improvements | 13,528 | ||
Total | 18,045 | ||
Accumulated Depreciation | (357) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 17,688 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 18,045 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 357 | ||
Eastport [Member] | |||
Initial Cost | |||
Land | 2,985 | ||
Building & Improvements | 5,649 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (32) | ||
Total Cost | |||
Land | 2,925 | ||
Building & Improvements | 5,677 | ||
Total | 8,602 | ||
Accumulated Depreciation | (282) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 8,320 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 8,602 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 282 | ||
El Camino Shopping Center [Member] | |||
Initial Cost | |||
Land | 7,600 | ||
Building & Improvements | 11,538 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 15,334 | ||
Total Cost | |||
Land | 10,328 | ||
Building & Improvements | 24,144 | ||
Total | 34,472 | ||
Accumulated Depreciation | (12,157) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 22,315 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 34,472 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 12,157 | ||
El Cerrito Plaza [Member] | |||
Initial Cost | |||
Land | 11,025 | ||
Building & Improvements | 27,371 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 3,570 | ||
Total Cost | |||
Land | 11,025 | ||
Building & Improvements | 30,941 | ||
Total | 41,966 | ||
Accumulated Depreciation | (14,632) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 27,334 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 41,966 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 14,632 | ||
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 | 3,000 | ||
Total Cost | |||
Land | 3,263 | ||
Building & Improvements | 9,941 | ||
Total | 13,204 | ||
Accumulated Depreciation | (6,644) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 6,560 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 13,204 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 6,644 | ||
Encina Grande [Member] | |||
Initial Cost | |||
Land | 5,040 | ||
Building & Improvements | 11,572 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 20,175 | ||
Total Cost | |||
Land | 10,518 | ||
Building & Improvements | 26,269 | ||
Total | 36,787 | ||
Accumulated Depreciation | (16,314) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 20,473 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 36,787 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 16,314 | ||
Fairfield Center [Member] | |||
Initial Cost | |||
Land | 6,731 | ||
Building & Improvements | 29,420 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,550 | ||
Total Cost | |||
Land | 6,731 | ||
Building & Improvements | 30,970 | ||
Total | 37,701 | ||
Accumulated Depreciation | (8,265) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 29,436 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 37,701 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 8,265 | ||
Falcon Marketplace [Member] | |||
Initial Cost | |||
Land | 1,340 | ||
Building & Improvements | 4,168 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 487 | ||
Total Cost | |||
Land | 1,246 | ||
Building & Improvements | 4,749 | ||
Total | 5,995 | ||
Accumulated Depreciation | (3,136) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 2,859 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 5,995 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 3,136 | ||
Fellsway Plaza [Member] | |||
Initial Cost | |||
Land | 30,712 | ||
Building & Improvements | 7,327 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 9,963 | ||
Total Cost | |||
Land | 34,923 | ||
Building & Improvements | 13,079 | ||
Total | 48,002 | ||
Accumulated Depreciation | (8,109) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 39,893 | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (35,446) | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 48,002 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 8,109 | ||
Fenton Marketplace [Member] | |||
Initial Cost | |||
Land | 2,298 | ||
Building & Improvements | 8,510 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (7,934) | ||
Total Cost | |||
Land | 512 | ||
Building & Improvements | 2,362 | ||
Total | 2,874 | ||
Accumulated Depreciation | (1,336) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 1,538 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 2,874 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 1,336 | ||
Fleming Island [Member] | |||
Initial Cost | |||
Land | 3,077 | ||
Building & Improvements | 11,587 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 3,380 | ||
Total Cost | |||
Land | 3,111 | ||
Building & Improvements | 14,933 | ||
Total | 18,044 | ||
Accumulated Depreciation | (9,610) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 8,434 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 18,044 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 9,610 | ||
Fountain Square [Member] | |||
Initial Cost | |||
Land | 29,722 | ||
Building & Improvements | 29,041 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (183) | ||
Total Cost | |||
Land | 29,784 | ||
Building & Improvements | 28,796 | ||
Total | 58,580 | ||
Accumulated Depreciation | (12,810) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 45,770 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 58,580 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 12,810 | ||
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 | 554 | ||
Total Cost | |||
Land | 11,822 | ||
Building & Improvements | 17,512 | ||
Total | 29,334 | ||
Accumulated Depreciation | (15,494) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 13,840 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 29,334 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 15,494 | ||
Friars Mission Center [Member] | |||
Initial Cost | |||
Land | 6,660 | ||
Building & Improvements | 28,021 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 2,541 | ||
Total Cost | |||
Land | 6,660 | ||
Building & Improvements | 30,562 | ||
Total | 37,222 | ||
Accumulated Depreciation | (18,551) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 18,671 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 37,222 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 18,551 | ||
Gardens Square [Member] | |||
Initial Cost | |||
Land | 2,136 | ||
Building & Improvements | 8,273 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 769 | ||
Total Cost | |||
Land | 2,136 | ||
Building & Improvements | 9,042 | ||
Total | 11,178 | ||
Accumulated Depreciation | (5,974) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 5,204 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 11,178 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 5,974 | ||
Gateway Shopping Center [Member] | |||
Initial Cost | |||
Land | 52,665 | ||
Building & Improvements | 7,134 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 12,097 | ||
Total Cost | |||
Land | 55,087 | ||
Building & Improvements | 16,809 | ||
Total | 71,896 | ||
Accumulated Depreciation | (19,483) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 52,413 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 71,896 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 19,483 | ||
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 | 5,942 | ||
Total Cost | |||
Land | 4,654 | ||
Building & Improvements | 15,598 | ||
Total | 20,252 | ||
Accumulated Depreciation | (9,632) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 10,620 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 20,252 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 9,632 | ||
Glen Oak Plaza [Member] | |||
Initial Cost | |||
Land | 4,103 | ||
Building & Improvements | 12,951 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,564 | ||
Total Cost | |||
Land | 4,124 | ||
Building & Improvements | 14,494 | ||
Total | 18,618 | ||
Accumulated Depreciation | (5,568) | ||
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 | 18,618 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 5,568 | ||
Glengary Shoppes [Member] | |||
Initial Cost | |||
Land | 9,120 | ||
Building & Improvements | 11,541 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,010 | ||
Total Cost | |||
Land | 9,120 | ||
Building & Improvements | 12,551 | ||
Total | 21,671 | ||
Accumulated Depreciation | (3,076) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 18,595 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 21,671 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 3,076 | ||
Glenwood Village [Member] | |||
Initial Cost | |||
Land | 1,194 | ||
Building & Improvements | 5,381 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 428 | ||
Total Cost | |||
Land | 1,194 | ||
Building & Improvements | 5,809 | ||
Total | 7,003 | ||
Accumulated Depreciation | (4,906) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 2,097 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 7,003 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 4,906 | ||
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 | 3,718 | ||
Total Cost | |||
Land | 11,521 | ||
Building & Improvements | 23,378 | ||
Total | 34,899 | ||
Accumulated Depreciation | (12,797) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 22,102 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 34,899 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 12,797 | ||
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 | 5,886 | ||
Total Cost | |||
Land | 24,918 | ||
Building & Improvements | 66,209 | ||
Total | 91,127 | ||
Accumulated Depreciation | (29,671) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 61,456 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 91,127 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 29,671 | ||
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 | 975 | ||
Total Cost | |||
Land | 7,777 | ||
Building & Improvements | 25,804 | ||
Total | 33,581 | ||
Accumulated Depreciation | (5,936) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 27,645 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 33,581 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 5,936 | ||
Hammocks Town Center [Member] | |||
Initial Cost | |||
Land | 28,764 | ||
Building & Improvements | 25,113 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,337 | ||
Total Cost | |||
Land | 28,764 | ||
Building & Improvements | 26,450 | ||
Total | 55,214 | ||
Accumulated Depreciation | (6,132) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 49,082 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 55,214 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 6,132 | ||
Hancock [Member] | |||
Initial Cost | |||
Land | 8,232 | ||
Building & Improvements | 28,260 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (12,901) | ||
Total Cost | |||
Land | 4,692 | ||
Building & Improvements | 18,899 | ||
Total | 23,591 | ||
Accumulated Depreciation | (11,890) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 11,701 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 23,591 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 11,890 | ||
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 | 807 | ||
Total Cost | |||
Land | 2,284 | ||
Building & Improvements | 10,250 | ||
Total | 12,534 | ||
Accumulated Depreciation | (6,472) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 6,062 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 12,534 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 6,472 | ||
Hasley Canyon Village [Member] | |||
Initial Cost | |||
Land | 17,630 | ||
Building & Improvements | 8,231 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 16 | ||
Total Cost | |||
Land | 17,630 | ||
Building & Improvements | 8,247 | ||
Total | 25,877 | ||
Accumulated Depreciation | (540) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 25,337 | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (16,000) | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 25,877 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 540 | ||
Heritage Plaza [Member] | |||
Initial Cost | |||
Land | 12,390 | ||
Building & Improvements | 26,097 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 14,665 | ||
Total Cost | |||
Land | 12,215 | ||
Building & Improvements | 40,937 | ||
Total | 53,152 | ||
Accumulated Depreciation | (21,674) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 31,478 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 53,152 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 21,674 | ||
Hershey [Member] | |||
Initial Cost | |||
Land | 7 | ||
Building & Improvements | 808 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 11 | ||
Total Cost | |||
Land | 7 | ||
Building & Improvements | 819 | ||
Total | 826 | ||
Accumulated Depreciation | (567) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 259 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 826 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 567 | ||
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 | 821 | ||
Total Cost | |||
Land | 11,850 | ||
Building & Improvements | 19,026 | ||
Total | 30,876 | ||
Accumulated Depreciation | (3,166) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 27,710 | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (8,879) | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 30,876 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 3,166 | ||
Hibernia Pavilion [Member] | |||
Initial Cost | |||
Land | 4,929 | ||
Building & Improvements | 5,065 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 239 | ||
Total Cost | |||
Land | 4,929 | ||
Building & Improvements | 5,304 | ||
Total | 10,233 | ||
Accumulated Depreciation | (4,242) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 5,991 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 10,233 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 4,242 | ||
Hillcrest Village [Member] | |||
Initial Cost | |||
Land | 1,600 | ||
Building & Improvements | 1,909 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 51 | ||
Total Cost | |||
Land | 1,600 | ||
Building & Improvements | 1,960 | ||
Total | 3,560 | ||
Accumulated Depreciation | (1,196) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 2,364 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 3,560 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 1,196 | ||
Hilltop Village [Member] | |||
Initial Cost | |||
Land | 2,995 | ||
Building & Improvements | 4,581 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 4,354 | ||
Total Cost | |||
Land | 3,104 | ||
Building & Improvements | 8,826 | ||
Total | 11,930 | ||
Accumulated Depreciation | (4,705) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 7,225 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 11,930 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 4,705 | ||
Hinsdale Lake Commons (fka Hinsdale) [Member] | |||
Initial Cost | |||
Land | 5,734 | ||
Building & Improvements | 16,709 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 11,805 | ||
Total Cost | |||
Land | 8,343 | ||
Building & Improvements | 25,905 | ||
Total | 34,248 | ||
Accumulated Depreciation | (17,075) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 17,173 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 34,248 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 17,075 | ||
Holly Park [Member] | |||
Initial Cost | |||
Land | 8,975 | ||
Building & Improvements | 23,799 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 2,274 | ||
Total Cost | |||
Land | 8,828 | ||
Building & Improvements | 26,220 | ||
Total | 35,048 | ||
Accumulated Depreciation | (8,282) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 26,766 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 35,048 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 8,282 | ||
Howell Mill Village [Member] | |||
Initial Cost | |||
Land | 5,157 | ||
Building & Improvements | 14,279 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 7,444 | ||
Total Cost | |||
Land | 9,610 | ||
Building & Improvements | 17,270 | ||
Total | 26,880 | ||
Accumulated Depreciation | (8,580) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 18,300 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 26,880 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 8,580 | ||
Hyde Park [Member] | |||
Initial Cost | |||
Land | 9,809 | ||
Building & Improvements | 39,905 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 7,299 | ||
Total Cost | |||
Land | 9,809 | ||
Building & Improvements | 47,204 | ||
Total | 57,013 | ||
Accumulated Depreciation | (30,450) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 26,563 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 57,013 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 30,450 | ||
Indian Springs Center [Member] | |||
Initial Cost | |||
Land | 24,974 | ||
Building & Improvements | 25,903 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,143 | ||
Total Cost | |||
Land | 25,050 | ||
Building & Improvements | 26,970 | ||
Total | 52,020 | ||
Accumulated Depreciation | (8,011) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 44,009 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 52,020 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 8,011 | ||
Indigo Square [Member] | |||
Initial Cost | |||
Land | 8,087 | ||
Building & Improvements | 9,849 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (4) | ||
Total Cost | |||
Land | 8,087 | ||
Building & Improvements | 9,845 | ||
Total | 17,932 | ||
Accumulated Depreciation | (2,336) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 15,596 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 17,932 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 2,336 | ||
Island Village [Member] | |||
Initial Cost | |||
Land | 12,354 | ||
Building & Improvements | 23,660 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 171 | ||
Total Cost | |||
Land | 12,361 | ||
Building & Improvements | 23,824 | ||
Total | 36,185 | ||
Accumulated Depreciation | (724) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 35,461 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 36,185 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 724 | ||
Inglewood Plaza [Member] | |||
Initial Cost | |||
Land | 1,300 | ||
Building & Improvements | 2,159 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 946 | ||
Total Cost | |||
Land | 1,300 | ||
Building & Improvements | 3,105 | ||
Total | 4,405 | ||
Accumulated Depreciation | (1,928) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 2,477 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 4,405 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 1,928 | ||
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 | 816 | ||
Total Cost | |||
Land | 2,404 | ||
Building & Improvements | 13,547 | ||
Total | 15,951 | ||
Accumulated Depreciation | (7,842) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 8,109 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 15,951 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 7,842 | ||
Kirkman Shoppes [Member] | |||
Initial Cost | |||
Land | 9,364 | ||
Building & Improvements | 26,243 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 693 | ||
Total Cost | |||
Land | 9,367 | ||
Building & Improvements | 26,933 | ||
Total | 36,300 | ||
Accumulated Depreciation | (5,742) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 30,558 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 36,300 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 5,742 | ||
Kirkwood Commons [Member] | |||
Initial Cost | |||
Land | 6,772 | ||
Building & Improvements | 16,224 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,384 | ||
Total Cost | |||
Land | 6,802 | ||
Building & Improvements | 17,578 | ||
Total | 24,380 | ||
Accumulated Depreciation | (6,661) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 17,719 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 24,380 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 6,661 | ||
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 | 408 | ||
Total Cost | |||
Land | 14,451 | ||
Building & Improvements | 20,497 | ||
Total | 34,948 | ||
Accumulated Depreciation | (4,608) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 30,340 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 34,948 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 4,608 | ||
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 | 1,392 | ||
Total Cost | |||
Land | 3,844 | ||
Building & Improvements | 7,991 | ||
Total | 11,835 | ||
Accumulated Depreciation | (6,528) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 5,307 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 11,835 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 6,528 | ||
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 | 2,507 | ||
Total Cost | |||
Land | 24,036 | ||
Building & Improvements | 59,983 | ||
Total | 84,019 | ||
Accumulated Depreciation | (14,241) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 69,778 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 84,019 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 14,241 | ||
Lake Pine Plaza [Member] | |||
Initial Cost | |||
Land | 2,008 | ||
Building & Improvements | 7,632 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,137 | ||
Total Cost | |||
Land | 2,029 | ||
Building & Improvements | 8,748 | ||
Total | 10,777 | ||
Accumulated Depreciation | (5,546) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 5,231 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 10,777 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 5,546 | ||
Lebanon Center [Member] | |||
Initial Cost | |||
Land | 3,913 | ||
Building & Improvements | 7,874 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,179 | ||
Total Cost | |||
Land | 3,913 | ||
Building & Improvements | 9,053 | ||
Total | 12,966 | ||
Accumulated Depreciation | (6,923) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 6,043 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 12,966 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 6,923 | ||
Littleton Square [Member] | |||
Initial Cost | |||
Land | 2,030 | ||
Building & Improvements | 8,859 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (3,527) | ||
Total Cost | |||
Land | 2,433 | ||
Building & Improvements | 4,929 | ||
Total | 7,362 | ||
Accumulated Depreciation | (3,197) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 4,165 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 7,362 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 3,197 | ||
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 | 1,651 | ||
Total Cost | |||
Land | 1,779 | ||
Building & Improvements | 11,711 | ||
Total | 13,490 | ||
Accumulated Depreciation | (7,454) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 6,036 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 13,490 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 7,454 | ||
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 | 4,099 | ||
Total Cost | |||
Land | 16,343 | ||
Building & Improvements | 16,712 | ||
Total | 33,055 | ||
Accumulated Depreciation | (13,077) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 19,978 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 33,055 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 13,077 | ||
Mandarin Landing [Member] | |||
Initial Cost | |||
Land | 7,913 | ||
Building & Improvements | 27,230 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 671 | ||
Total Cost | |||
Land | 7,913 | ||
Building & Improvements | 27,901 | ||
Total | 35,814 | ||
Accumulated Depreciation | (7,095) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 28,719 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 35,814 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 7,095 | ||
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 | 184 | ||
Total Cost | |||
Land | 6,160 | ||
Building & Improvements | 10,318 | ||
Total | 16,478 | ||
Accumulated Depreciation | (5,678) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 10,800 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 16,478 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 5,678 | ||
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 | 1,867 | ||
Total Cost | |||
Land | 4,400 | ||
Building & Improvements | 13,312 | ||
Total | 17,712 | ||
Accumulated Depreciation | (8,446) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 9,266 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 17,712 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 8,446 | ||
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 | 8,650 | ||
Total Cost | |||
Land | 1,996 | ||
Building & Improvements | 18,330 | ||
Total | 20,326 | ||
Accumulated Depreciation | (11,494) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 8,832 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 20,326 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 11,494 | ||
Market at Springwoods Village [Member] | |||
Initial Cost | |||
Land | 12,592 | ||
Building & Improvements | 12,781 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 76 | ||
Total Cost | |||
Land | 12,592 | ||
Building & Improvements | 12,857 | ||
Total | 25,449 | ||
Accumulated Depreciation | (4,302) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 21,147 | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (4,250) | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 25,449 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 4,302 | ||
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 | 347 | ||
Total Cost | |||
Land | 1,727 | ||
Building & Improvements | 5,211 | ||
Total | 6,938 | ||
Accumulated Depreciation | (3,406) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 3,532 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 6,938 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 3,406 | ||
Mellody Farm [Member] | |||
Initial Cost | |||
Land | 35,628 | ||
Building & Improvements | 66,847 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (458) | ||
Total Cost | |||
Land | 35,628 | ||
Building & Improvements | 66,389 | ||
Total | 102,017 | ||
Accumulated Depreciation | (14,087) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 87,930 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 102,017 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 14,087 | ||
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 | ||
Accumulated Depreciation | (1,818) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 13,366 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 15,184 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 1,818 | ||
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 | 5,920 | ||
Total Cost | |||
Land | 1,901 | ||
Building & Improvements | 10,450 | ||
Total | 12,351 | ||
Accumulated Depreciation | (8,007) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 4,344 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 12,351 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 8,007 | ||
Mockingbird Commons [Member] | |||
Initial Cost | |||
Land | 3,000 | ||
Building & Improvements | 10,728 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 3,026 | ||
Total Cost | |||
Land | 3,000 | ||
Building & Improvements | 13,754 | ||
Total | 16,754 | ||
Accumulated Depreciation | (8,214) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 8,540 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 16,754 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 8,214 | ||
Monument Jackson Creek | |||
Initial Cost | |||
Land | 2,999 | ||
Building & Improvements | 6,765 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,321 | ||
Total Cost | |||
Land | 2,999 | ||
Building & Improvements | 8,086 | ||
Total | 11,085 | ||
Accumulated Depreciation | (6,426) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 4,659 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 11,085 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 6,426 | ||
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 | ||
Accumulated Depreciation | (9,276) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 9,944 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 19,220 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 9,276 | ||
Murrayhill Marketplace [Member] | |||
Initial Cost | |||
Land | 2,670 | ||
Building & Improvements | 18,401 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 14,396 | ||
Total Cost | |||
Land | 2,903 | ||
Building & Improvements | 32,564 | ||
Total | 35,467 | ||
Accumulated Depreciation | (18,563) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 16,904 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 35,467 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 18,563 | ||
Naples Walk [Member] | |||
Initial Cost | |||
Land | 18,173 | ||
Building & Improvements | 13,554 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 2,264 | ||
Total Cost | |||
Land | 18,173 | ||
Building & Improvements | 15,818 | ||
Total | 33,991 | ||
Accumulated Depreciation | (8,109) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 25,882 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 33,991 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 8,109 | ||
Newberry Square [Member] | |||
Initial Cost | |||
Land | 2,412 | ||
Building & Improvements | 10,150 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,338 | ||
Total Cost | |||
Land | 2,412 | ||
Building & Improvements | 11,488 | ||
Total | 13,900 | ||
Accumulated Depreciation | (9,815) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 4,085 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 13,900 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 9,815 | ||
Newland Center [Member] | |||
Initial Cost | |||
Land | 12,500 | ||
Building & Improvements | 10,697 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 8,721 | ||
Total Cost | |||
Land | 16,276 | ||
Building & Improvements | 15,642 | ||
Total | 31,918 | ||
Accumulated Depreciation | (11,114) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 20,804 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 31,918 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 11,114 | ||
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 | 8,629 | ||
Total Cost | |||
Land | 11,045 | ||
Building & Improvements | 16,399 | ||
Total | 27,444 | ||
Accumulated Depreciation | (9,765) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 17,679 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 27,444 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 9,765 | ||
North Hills [Member] | |||
Initial Cost | |||
Land | 4,900 | ||
Building & Improvements | 19,774 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 4,342 | ||
Total Cost | |||
Land | 4,900 | ||
Building & Improvements | 24,116 | ||
Total | 29,016 | ||
Accumulated Depreciation | (14,104) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 14,912 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 29,016 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 14,104 | ||
Northgate Marketplace [Member] | |||
Initial Cost | |||
Land | 5,668 | ||
Building & Improvements | 13,727 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 51 | ||
Total Cost | |||
Land | 4,995 | ||
Building & Improvements | 14,349 | ||
Total | 19,344 | ||
Accumulated Depreciation | (7,629) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 11,715 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 19,344 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 7,629 | ||
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 | ||
Accumulated Depreciation | (9,159) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 33,334 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 42,493 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 9,159 | ||
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 | 4,973 | ||
Total Cost | |||
Land | 2,840 | ||
Building & Improvements | 10,554 | ||
Total | 13,394 | ||
Accumulated Depreciation | (6,739) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 6,655 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 13,394 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 6,739 | ||
Northgate Square [Member] | |||
Initial Cost | |||
Land | 5,011 | ||
Building & Improvements | 8,692 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,126 | ||
Total Cost | |||
Land | 5,011 | ||
Building & Improvements | 9,818 | ||
Total | 14,829 | ||
Accumulated Depreciation | (5,269) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 9,560 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 14,829 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 5,269 | ||
Northlake Village [Member] | |||
Initial Cost | |||
Land | 2,662 | ||
Building & Improvements | 11,284 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 5,433 | ||
Total Cost | |||
Land | 2,662 | ||
Building & Improvements | 16,717 | ||
Total | 19,379 | ||
Accumulated Depreciation | (6,970) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 12,409 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 19,379 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 6,970 | ||
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 | 915 | ||
Total Cost | |||
Land | 6,591 | ||
Building & Improvements | 29,881 | ||
Total | 36,472 | ||
Accumulated Depreciation | (12,266) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 24,206 | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (4,869) | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 36,472 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 12,266 | ||
Oakbrook Plaza [Member] | |||
Initial Cost | |||
Land | 4,000 | ||
Building & Improvements | 6,668 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 6,038 | ||
Total Cost | |||
Land | 4,766 | ||
Building & Improvements | 11,940 | ||
Total | 16,706 | ||
Accumulated Depreciation | (6,362) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 10,344 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 16,706 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 6,362 | ||
Oakleaf Commons [Member] | |||
Initial Cost | |||
Land | 3,503 | ||
Building & Improvements | 11,671 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,811 | ||
Total Cost | |||
Land | 3,190 | ||
Building & Improvements | 13,795 | ||
Total | 16,985 | ||
Accumulated Depreciation | (8,550) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 8,435 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 16,985 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 8,550 | ||
Ocala Corners [Member] | |||
Initial Cost | |||
Land | 1,816 | ||
Building & Improvements | 10,515 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 611 | ||
Total Cost | |||
Land | 1,816 | ||
Building & Improvements | 11,126 | ||
Total | 12,942 | ||
Accumulated Depreciation | (5,686) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 7,256 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 12,942 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 5,686 | ||
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 | 13,513 | ||
Total Cost | |||
Land | 3,455 | ||
Building & Improvements | 23,831 | ||
Total | 27,286 | ||
Accumulated Depreciation | (11,850) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 15,436 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 27,286 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 11,850 | ||
Pablo Plaza [Member] | |||
Initial Cost | |||
Land | 11,894 | ||
Building & Improvements | 21,407 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 11,347 | ||
Total Cost | |||
Land | 14,135 | ||
Building & Improvements | 30,513 | ||
Total | 44,648 | ||
Accumulated Depreciation | (7,846) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 36,802 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 44,648 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 7,846 | ||
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 | 20,927 | ||
Total Cost | |||
Land | 13,803 | ||
Building & Improvements | 22,575 | ||
Total | 36,378 | ||
Accumulated Depreciation | (13,670) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 22,708 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 36,378 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 13,670 | ||
Panther Creek [Member] | |||
Initial Cost | |||
Land | 14,414 | ||
Building & Improvements | 14,748 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 6,002 | ||
Total Cost | |||
Land | 15,212 | ||
Building & Improvements | 19,952 | ||
Total | 35,164 | ||
Accumulated Depreciation | (15,633) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 19,531 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 35,164 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 15,633 | ||
Pavillion [Member] | |||
Initial Cost | |||
Land | 15,626 | ||
Building & Improvements | 22,124 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,079 | ||
Total Cost | |||
Land | 15,626 | ||
Building & Improvements | 23,203 | ||
Total | 38,829 | ||
Accumulated Depreciation | (5,971) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 32,858 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 38,829 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 5,971 | ||
Peartree Village [Member] | |||
Initial Cost | |||
Land | 5,197 | ||
Building & Improvements | 19,746 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 890 | ||
Total Cost | |||
Land | 5,197 | ||
Building & Improvements | 20,636 | ||
Total | 25,833 | ||
Accumulated Depreciation | (14,605) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 11,228 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 25,833 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 14,605 | ||
Persimmon Place [Member] | |||
Initial Cost | |||
Land | 25,975 | ||
Building & Improvements | 38,114 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (623) | ||
Total Cost | |||
Land | 26,692 | ||
Building & Improvements | 38,020 | ||
Total | 64,712 | ||
Accumulated Depreciation | (15,824) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 48,888 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 64,712 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 15,824 | ||
Pike Creek [Member] | |||
Initial Cost | |||
Land | 5,153 | ||
Building & Improvements | 20,652 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 7,238 | ||
Total Cost | |||
Land | 5,850 | ||
Building & Improvements | 27,193 | ||
Total | 33,043 | ||
Accumulated Depreciation | (15,288) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 17,755 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 33,043 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 15,288 | ||
Pine Island [Member] | |||
Initial Cost | |||
Land | 21,086 | ||
Building & Improvements | 28,123 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 3,778 | ||
Total Cost | |||
Land | 21,086 | ||
Building & Improvements | 31,901 | ||
Total | 52,987 | ||
Accumulated Depreciation | (8,835) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 44,152 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 52,987 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 8,835 | ||
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 | 1,835 | ||
Total Cost | |||
Land | 6,300 | ||
Building & Improvements | 12,826 | ||
Total | 19,126 | ||
Accumulated Depreciation | (7,989) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 11,137 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 19,126 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 7,989 | ||
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 | 1,129 | ||
Total Cost | |||
Land | 13,951 | ||
Building & Improvements | 24,276 | ||
Total | 38,227 | ||
Accumulated Depreciation | (5,550) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 32,677 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 38,227 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 5,550 | ||
Pine Tree Plaza [Member] | |||
Initial Cost | |||
Land | 668 | ||
Building & Improvements | 6,220 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 980 | ||
Total Cost | |||
Land | 668 | ||
Building & Improvements | 7,200 | ||
Total | 7,868 | ||
Accumulated Depreciation | (4,385) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 3,483 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 7,868 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 4,385 | ||
Pinecrest Place [Member] | |||
Initial Cost | |||
Land | 4,193 | ||
Building & Improvements | 13,275 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (189) | ||
Total Cost | |||
Land | 3,992 | ||
Building & Improvements | 13,287 | ||
Total | 17,279 | ||
Accumulated Depreciation | (2,943) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 14,336 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 17,279 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 2,943 | ||
Plaza Escuela [Member] | |||
Initial Cost | |||
Land | 24,829 | ||
Building & Improvements | 104,395 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 3,446 | ||
Total Cost | |||
Land | 24,829 | ||
Building & Improvements | 107,841 | ||
Total | 132,670 | ||
Accumulated Depreciation | (17,147) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 115,523 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 132,670 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 17,147 | ||
Plaza Hermosa [Member] | |||
Initial Cost | |||
Land | 4,200 | ||
Building & Improvements | 10,109 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 3,610 | ||
Total Cost | |||
Land | 4,202 | ||
Building & Improvements | 13,717 | ||
Total | 17,919 | ||
Accumulated Depreciation | (8,598) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 9,321 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 17,919 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 8,598 | ||
Point 50 [Member] | |||
Initial Cost | |||
Land | 15,239 | ||
Building & Improvements | 11,367 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (328) | ||
Total Cost | |||
Land | 14,628 | ||
Building & Improvements | 12,306 | ||
Total | 26,934 | ||
Accumulated Depreciation | (1,468) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 25,466 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 26,934 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 1,468 | ||
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 | 6,614 | ||
Total Cost | |||
Land | 19,386 | ||
Building & Improvements | 20,318 | ||
Total | 39,704 | ||
Accumulated Depreciation | (6,474) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 33,230 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 39,704 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 6,474 | ||
Post Road Plaza [Member] | |||
Initial Cost | |||
Land | 15,240 | ||
Building & Improvements | 5,196 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 176 | ||
Total Cost | |||
Land | 15,240 | ||
Building & Improvements | 5,372 | ||
Total | 20,612 | ||
Accumulated Depreciation | (1,204) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 19,408 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 20,612 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 1,204 | ||
Potrero Center [Member] | |||
Initial Cost | |||
Land | 133,422 | ||
Building & Improvements | 116,758 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (88,642) | ||
Total Cost | |||
Land | 85,205 | ||
Building & Improvements | 76,333 | ||
Total | 161,538 | ||
Accumulated Depreciation | (13,169) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 148,369 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 161,538 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 13,169 | ||
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 | 3,728 | ||
Total Cost | |||
Land | 8,248 | ||
Building & Improvements | 34,444 | ||
Total | 42,692 | ||
Accumulated Depreciation | (18,905) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 23,787 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 42,692 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 18,905 | ||
Powers Ferry Square [Member] | |||
Initial Cost | |||
Land | 3,687 | ||
Building & Improvements | 17,965 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 10,011 | ||
Total Cost | |||
Land | 5,758 | ||
Building & Improvements | 25,905 | ||
Total | 31,663 | ||
Accumulated Depreciation | (21,120) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 10,543 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 31,663 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 21,120 | ||
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 | 501 | ||
Total Cost | |||
Land | 1,191 | ||
Building & Improvements | 5,173 | ||
Total | 6,364 | ||
Accumulated Depreciation | (4,206) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 2,158 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 6,364 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 4,206 | ||
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 | 504 | ||
Total Cost | |||
Land | 4,164 | ||
Building & Improvements | 13,536 | ||
Total | 17,700 | ||
Accumulated Depreciation | (7,411) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 10,289 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 17,700 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 7,411 | ||
Preston Oaks [Member] | |||
Initial Cost | |||
Land | 763 | ||
Building & Improvements | 30,438 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (899) | ||
Total Cost | |||
Land | 1,505 | ||
Building & Improvements | 28,797 | ||
Total | 30,302 | ||
Accumulated Depreciation | (4,255) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 26,047 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 30,302 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 4,255 | ||
Prestonbrook [Member] | |||
Initial Cost | |||
Land | 7,069 | ||
Building & Improvements | 8,622 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,181 | ||
Total Cost | |||
Land | 7,069 | ||
Building & Improvements | 9,803 | ||
Total | 16,872 | ||
Accumulated Depreciation | (7,867) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 9,005 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 16,872 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 7,867 | ||
Prosperity Centre [Member] | |||
Initial Cost | |||
Land | 11,682 | ||
Building & Improvements | 26,215 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 765 | ||
Total Cost | |||
Land | 11,681 | ||
Building & Improvements | 26,981 | ||
Total | 38,662 | ||
Accumulated Depreciation | (5,582) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 33,080 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 38,662 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 5,582 | ||
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 | 147 | ||
Total Cost | |||
Land | 20,939 | ||
Building & Improvements | 6,464 | ||
Total | 27,403 | ||
Accumulated Depreciation | (1,784) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 25,619 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 27,403 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 1,784 | ||
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 | 1,192 | ||
Total Cost | |||
Land | 9,755 | ||
Building & Improvements | 11,273 | ||
Total | 21,028 | ||
Accumulated Depreciation | (4,539) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 16,489 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 21,028 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 4,539 | ||
Regency Commons [Member] | |||
Initial Cost | |||
Land | 3,917 | ||
Building & Improvements | 3,616 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 347 | ||
Total Cost | |||
Land | 3,917 | ||
Building & Improvements | 3,963 | ||
Total | 7,880 | ||
Accumulated Depreciation | (2,947) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 4,933 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 7,880 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 2,947 | ||
Regency Square [Member] | |||
Initial Cost | |||
Land | 4,770 | ||
Building & Improvements | 25,191 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 6,581 | ||
Total Cost | |||
Land | 5,060 | ||
Building & Improvements | 31,482 | ||
Total | 36,542 | ||
Accumulated Depreciation | (26,489) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 10,053 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 36,542 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 26,489 | ||
Rivertowns Square [Member] | |||
Initial Cost | |||
Land | 15,505 | ||
Building & Improvements | 52,505 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 3,201 | ||
Total Cost | |||
Land | 16,853 | ||
Building & Improvements | 54,358 | ||
Total | 71,211 | ||
Accumulated Depreciation | (8,303) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 62,908 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 71,211 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 8,303 | ||
Rona Plaza [Member] | |||
Initial Cost | |||
Land | 1,500 | ||
Building & Improvements | 4,917 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 331 | ||
Total Cost | |||
Land | 1,500 | ||
Building & Improvements | 5,248 | ||
Total | 6,748 | ||
Accumulated Depreciation | (3,501) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 3,247 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 6,748 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 3,501 | ||
Roosevelt Square [Member] | |||
Initial Cost | |||
Land | 40,371 | ||
Building & Improvements | 32,108 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 7,523 | ||
Total Cost | |||
Land | 40,382 | ||
Building & Improvements | 39,620 | ||
Total | 80,002 | ||
Accumulated Depreciation | (5,539) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 74,463 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 80,002 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 5,539 | ||
Russell Ridge [Member] | |||
Initial Cost | |||
Land | 2,234 | ||
Building & Improvements | 6,903 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,503 | ||
Total Cost | |||
Land | 2,234 | ||
Building & Improvements | 8,406 | ||
Total | 10,640 | ||
Accumulated Depreciation | (6,019) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 4,621 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 10,640 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 6,019 | ||
Ryanwood Square [Member] | |||
Initial Cost | |||
Land | 10,581 | ||
Building & Improvements | 10,044 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 332 | ||
Total Cost | |||
Land | 10,581 | ||
Building & Improvements | 10,376 | ||
Total | 20,957 | ||
Accumulated Depreciation | (3,013) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 17,944 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 20,957 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 3,013 | ||
Sammamish-Highlands [Member] | |||
Initial Cost | |||
Land | 9,300 | ||
Building & Improvements | 8,075 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 8,756 | ||
Total Cost | |||
Land | 9,592 | ||
Building & Improvements | 16,539 | ||
Total | 26,131 | ||
Accumulated Depreciation | (11,463) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 14,668 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 26,131 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 11,463 | ||
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 | 416 | ||
Total Cost | |||
Land | 36,006 | ||
Building & Improvements | 58,302 | ||
Total | 94,308 | ||
Accumulated Depreciation | (10,008) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 84,300 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 94,308 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 10,008 | ||
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 | 975 | ||
Total Cost | |||
Land | 1,300 | ||
Building & Improvements | 9,201 | ||
Total | 10,501 | ||
Accumulated Depreciation | (5,666) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 4,835 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 10,501 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 5,666 | ||
Sandy Springs [Member] | |||
Initial Cost | |||
Land | 6,889 | ||
Building & Improvements | 28,056 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 4,352 | ||
Total Cost | |||
Land | 6,889 | ||
Building & Improvements | 32,408 | ||
Total | 39,297 | ||
Accumulated Depreciation | (11,213) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 28,084 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 39,297 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 11,213 | ||
Sawgrass Promenade [Member] | |||
Initial Cost | |||
Land | 10,846 | ||
Building & Improvements | 12,525 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 666 | ||
Total Cost | |||
Land | 10,846 | ||
Building & Improvements | 13,191 | ||
Total | 24,037 | ||
Accumulated Depreciation | (3,334) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 20,703 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 24,037 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 3,334 | ||
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 | 881 | ||
Total Cost | |||
Land | 59,949 | ||
Building & Improvements | 27,215 | ||
Total | 87,164 | ||
Accumulated Depreciation | (5,065) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 82,099 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 87,164 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 5,065 | ||
Serramonte Center [Member] | |||
Initial Cost | |||
Land | 390,106 | ||
Building & Improvements | 172,652 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 91,745 | ||
Total Cost | |||
Land | 416,378 | ||
Building & Improvements | 238,125 | ||
Total | 654,503 | ||
Accumulated Depreciation | (64,161) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 590,342 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 654,503 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 64,161 | ||
Shaw's at Plymouth [Member] | |||
Initial Cost | |||
Land | 3,968 | ||
Building & Improvements | 8,367 | ||
Total Cost | |||
Land | 3,968 | ||
Building & Improvements | 8,367 | ||
Total | 12,335 | ||
Accumulated Depreciation | (2,118) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 10,217 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 12,335 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 2,118 | ||
Sheridan Plaza [Member] | |||
Initial Cost | |||
Land | 82,260 | ||
Building & Improvements | 97,273 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 15,030 | ||
Total Cost | |||
Land | 83,483 | ||
Building & Improvements | 111,080 | ||
Total | 194,563 | ||
Accumulated Depreciation | (21,348) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 173,215 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 194,563 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 21,348 | ||
Sherwood Crossroads [Member] | |||
Initial Cost | |||
Land | 2,731 | ||
Building & Improvements | 6,360 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 969 | ||
Total Cost | |||
Land | 2,454 | ||
Building & Improvements | 7,606 | ||
Total | 10,060 | ||
Accumulated Depreciation | (4,218) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 5,842 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 10,060 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 4,218 | ||
Shiloh Springs [Member] | |||
Initial Cost | |||
Land | 5,236 | ||
Building & Improvements | 11,802 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 340 | ||
Total Cost | |||
Land | 5,236 | ||
Building & Improvements | 12,142 | ||
Total | 17,378 | ||
Accumulated Depreciation | (857) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 16,521 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 17,378 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 857 | ||
Shoppes @ 104 [Member] | |||
Initial Cost | |||
Land | 11,193 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 2,784 | ||
Total Cost | |||
Land | 7,078 | ||
Building & Improvements | 6,899 | ||
Total | 13,977 | ||
Accumulated Depreciation | (3,783) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 10,194 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 13,977 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 3,783 | ||
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 | 2,250 | ||
Total Cost | |||
Land | 5,420 | ||
Building & Improvements | 11,700 | ||
Total | 17,120 | ||
Accumulated Depreciation | (7,406) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 9,714 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 17,120 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 7,406 | ||
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 | 205 | ||
Total Cost | |||
Land | 8,323 | ||
Building & Improvements | 11,552 | ||
Total | 19,875 | ||
Accumulated Depreciation | (2,952) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 16,923 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 19,875 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 2,952 | ||
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 | 3,049 | ||
Total Cost | |||
Land | 17,247 | ||
Building & Improvements | 17,536 | ||
Total | 34,783 | ||
Accumulated Depreciation | (4,826) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 29,957 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 34,783 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 4,826 | ||
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 | 714 | ||
Total Cost | |||
Land | 5,091 | ||
Building & Improvements | 6,699 | ||
Total | 11,790 | ||
Accumulated Depreciation | (5,849) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 5,941 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 11,790 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 5,849 | ||
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 | 452 | ||
Total Cost | |||
Land | 4,474 | ||
Building & Improvements | 6,080 | ||
Total | 10,554 | ||
Accumulated Depreciation | (1,464) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 9,090 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 10,554 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 1,464 | ||
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 | 336 | ||
Total Cost | |||
Land | 20,538 | ||
Building & Improvements | 43,328 | ||
Total | 63,866 | ||
Accumulated Depreciation | (8,722) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 55,144 | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (410) | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 63,866 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 8,722 | ||
Shoppes of Silver Lakes [Member] | |||
Initial Cost | |||
Land | 17,529 | ||
Building & Improvements | 21,829 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,203 | ||
Total Cost | |||
Land | 17,529 | ||
Building & Improvements | 23,032 | ||
Total | 40,561 | ||
Accumulated Depreciation | (5,645) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 34,916 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 40,561 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 5,645 | ||
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 | 595 | ||
Total Cost | |||
Land | 2,860 | ||
Building & Improvements | 1,911 | ||
Total | 4,771 | ||
Accumulated Depreciation | (375) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 4,396 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 4,771 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 375 | ||
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 | 556 | ||
Total Cost | |||
Land | 2,834 | ||
Building & Improvements | 1,271 | ||
Total | 4,105 | ||
Accumulated Depreciation | (296) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 3,809 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 4,105 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 296 | ||
Shops at County Center [Member] | |||
Initial Cost | |||
Land | 9,957 | ||
Building & Improvements | 11,296 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 2,057 | ||
Total Cost | |||
Land | 9,973 | ||
Building & Improvements | 13,337 | ||
Total | 23,310 | ||
Accumulated Depreciation | (11,645) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 11,665 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 23,310 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 11,645 | ||
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 | 540 | ||
Total Cost | |||
Land | 9,087 | ||
Building & Improvements | 6,659 | ||
Total | 15,746 | ||
Accumulated Depreciation | (3,940) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 11,806 | ||
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 | 15,746 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 3,940 | ||
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 | (84) | ||
Total Cost | |||
Land | 1,501 | ||
Building & Improvements | 2,292 | ||
Total | 3,793 | ||
Accumulated Depreciation | (1,617) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 2,176 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 3,793 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 1,617 | ||
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 | 299 | ||
Total Cost | |||
Land | 11,691 | ||
Building & Improvements | 9,325 | ||
Total | 21,016 | ||
Accumulated Depreciation | (3,171) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 17,845 | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (179) | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 21,016 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 3,171 | ||
Shops at Quail Creek [Member] | |||
Initial Cost | |||
Land | 1,487 | ||
Building & Improvements | 7,717 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,351 | ||
Total Cost | |||
Land | 1,448 | ||
Building & Improvements | 9,107 | ||
Total | 10,555 | ||
Accumulated Depreciation | (4,799) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 5,756 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 10,555 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 4,799 | ||
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 | 375 | ||
Total Cost | |||
Land | 18,811 | ||
Building & Improvements | 18,749 | ||
Total | 37,560 | ||
Accumulated Depreciation | (13,100) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 24,460 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 37,560 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 13,100 | ||
Shops at Skylake [Member] | |||
Initial Cost | |||
Land | 84,586 | ||
Building & Improvements | 39,342 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 2,221 | ||
Total Cost | |||
Land | 85,117 | ||
Building & Improvements | 41,032 | ||
Total | 126,149 | ||
Accumulated Depreciation | (10,755) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 115,394 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 126,149 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Beginning balance | 10,755 | ||
Ending balance | $ 10,755 | ||
Shops at The Columbia [Member] | |||
Initial Cost | |||
Land | 3,117 | ||
Building & Improvements | 8,869 | ||
Total Cost | |||
Land | 3,117 | ||
Building & Improvements | 8,869 | ||
Total | 11,986 | ||
Accumulated Depreciation | (293) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 11,693 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 11,986 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 293 | ||
Shops on Main [Member] | |||
Initial Cost | |||
Land | 17,020 | ||
Building & Improvements | 27,055 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 16,180 | ||
Total Cost | |||
Land | 18,534 | ||
Building & Improvements | 41,721 | ||
Total | 60,255 | ||
Accumulated Depreciation | (16,276) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 43,979 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 60,255 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 16,276 | ||
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 | 3,477 | ||
Total Cost | |||
Land | 3,332 | ||
Building & Improvements | 15,131 | ||
Total | 18,463 | ||
Accumulated Depreciation | (10,243) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 8,220 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 18,463 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 10,243 | ||
South Beach Regional [Member] | |||
Initial Cost | |||
Land | 28,188 | ||
Building & Improvements | 53,405 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,296 | ||
Total Cost | |||
Land | 28,188 | ||
Building & Improvements | 54,701 | ||
Total | 82,889 | ||
Accumulated Depreciation | (12,254) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 70,635 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 82,889 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 12,254 | ||
South Point [Member] | |||
Initial Cost | |||
Land | 6,563 | ||
Building & Improvements | 7,939 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 368 | ||
Total Cost | |||
Land | 6,563 | ||
Building & Improvements | 8,307 | ||
Total | 14,870 | ||
Accumulated Depreciation | (2,063) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 12,807 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 14,870 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 2,063 | ||
Southbury Green [Member] | |||
Initial Cost | |||
Land | 26,661 | ||
Building & Improvements | 34,325 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 6,603 | ||
Total Cost | |||
Land | 29,743 | ||
Building & Improvements | 37,846 | ||
Total | 67,589 | ||
Accumulated Depreciation | (8,206) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 59,383 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 67,589 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 8,206 | ||
Southcenter [Member] | |||
Initial Cost | |||
Land | 1,300 | ||
Building & Improvements | 12,750 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 2,300 | ||
Total Cost | |||
Land | 1,300 | ||
Building & Improvements | 15,050 | ||
Total | 16,350 | ||
Accumulated Depreciation | (9,452) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 6,898 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 16,350 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 9,452 | ||
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 | 7,482 | ||
Total Cost | |||
Land | 21,438 | ||
Building & Improvements | 15,745 | ||
Total | 37,183 | ||
Accumulated Depreciation | (9,122) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 28,061 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 37,183 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 9,122 | ||
SouthPoint Crossing [Member] | |||
Initial Cost | |||
Land | 4,412 | ||
Building & Improvements | 12,235 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,416 | ||
Total Cost | |||
Land | 4,382 | ||
Building & Improvements | 13,681 | ||
Total | 18,063 | ||
Accumulated Depreciation | (8,443) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 9,620 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 18,063 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 8,443 | ||
Starke [Member] | |||
Initial Cost | |||
Land | 71 | ||
Building & Improvements | 1,683 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 12 | ||
Total Cost | |||
Land | 71 | ||
Building & Improvements | 1,695 | ||
Total | 1,766 | ||
Accumulated Depreciation | (943) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 823 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 1,766 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 943 | ||
Star's at Cambridge [Member] | |||
Initial Cost | |||
Land | 31,082 | ||
Building & Improvements | 13,520 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (1) | ||
Total Cost | |||
Land | 31,082 | ||
Building & Improvements | 13,519 | ||
Total | 44,601 | ||
Accumulated Depreciation | (2,925) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 41,676 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 44,601 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 2,925 | ||
Star's at Quincy [Member] | |||
Initial Cost | |||
Land | 27,003 | ||
Building & Improvements | 9,425 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1 | ||
Total Cost | |||
Land | 27,003 | ||
Building & Improvements | 9,426 | ||
Total | 36,429 | ||
Accumulated Depreciation | (2,638) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 33,791 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 36,429 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 2,638 | ||
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 | 76 | ||
Total Cost | |||
Land | 21,973 | ||
Building & Improvements | 13,462 | ||
Total | 35,435 | ||
Accumulated Depreciation | (2,884) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 32,551 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 35,435 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 2,884 | ||
Sterling Ridge [Member] | |||
Initial Cost | |||
Land | 12,846 | ||
Building & Improvements | 12,162 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,546 | ||
Total Cost | |||
Land | 12,846 | ||
Building & Improvements | 13,708 | ||
Total | 26,554 | ||
Accumulated Depreciation | (11,002) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 15,552 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 26,554 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 11,002 | ||
Stroh Ranch [Member] | |||
Initial Cost | |||
Land | 4,280 | ||
Building & Improvements | 8,189 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,108 | ||
Total Cost | |||
Land | 4,280 | ||
Building & Improvements | 9,297 | ||
Total | 13,577 | ||
Accumulated Depreciation | (7,277) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 6,300 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 13,577 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 7,277 | ||
Suncoast Crossing [Member] | |||
Initial Cost | |||
Land | 9,030 | ||
Building & Improvements | 10,764 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 4,533 | ||
Total Cost | |||
Land | 13,374 | ||
Building & Improvements | 10,953 | ||
Total | 24,327 | ||
Accumulated Depreciation | (9,079) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 15,248 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 24,327 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 9,079 | ||
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 | 80 | ||
Total Cost | |||
Land | 22,415 | ||
Building & Improvements | 12,134 | ||
Total | 34,549 | ||
Accumulated Depreciation | (2,539) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 32,010 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 34,549 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 2,539 | ||
Tamarac Town Square [Member] | |||
Initial Cost | |||
Land | 12,584 | ||
Building & Improvements | 9,221 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,407 | ||
Total Cost | |||
Land | 12,584 | ||
Building & Improvements | 10,628 | ||
Total | 23,212 | ||
Accumulated Depreciation | (2,738) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 20,474 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 23,212 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 2,738 | ||
Tanasbourne Market [Member] | |||
Initial Cost | |||
Land | 3,269 | ||
Building & Improvements | 10,861 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (294) | ||
Total Cost | |||
Land | 3,149 | ||
Building & Improvements | 10,687 | ||
Total | 13,836 | ||
Accumulated Depreciation | (6,776) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 7,060 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 13,836 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 6,776 | ||
Tassajara Crossing [Member] | |||
Initial Cost | |||
Land | 8,560 | ||
Building & Improvements | 15,464 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 2,416 | ||
Total Cost | |||
Land | 8,560 | ||
Building & Improvements | 17,880 | ||
Total | 26,440 | ||
Accumulated Depreciation | (10,680) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 15,760 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 26,440 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 10,680 | ||
Tech Ridge Center [Member] | |||
Initial Cost | |||
Land | 12,945 | ||
Building & Improvements | 37,169 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 4,099 | ||
Total Cost | |||
Land | 13,589 | ||
Building & Improvements | 40,624 | ||
Total | 54,213 | ||
Accumulated Depreciation | (18,146) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 36,067 | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (715) | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 54,213 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 18,146 | ||
The Abbot [Member] | |||
Initial Cost | |||
Land | 72,910 | ||
Building & Improvements | 6,086 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (47,165) | ||
Total Cost | |||
Land | 79,187 | ||
Building & Improvements | 46,974 | ||
Total | 126,161 | ||
Accumulated Depreciation | (867) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 125,294 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 126,161 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 867 | ||
The Crossing Clarendon [Member] | |||
Initial Cost | |||
Land | 154,932 | ||
Building & Improvements | 126,328 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 34,127 | ||
Total Cost | |||
Land | 157,814 | ||
Building & Improvements | 157,573 | ||
Total | 315,387 | ||
Accumulated Depreciation | (26,426) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 288,961 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 315,387 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 26,426 | ||
The Field at Commonwealth [Member] | |||
Initial Cost | |||
Land | 30,955 | ||
Building & Improvements | 18,242 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 5 | ||
Total Cost | |||
Land | 30,956 | ||
Building & Improvements | 18,246 | ||
Total | 49,202 | ||
Accumulated Depreciation | (7,338) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 41,864 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 49,202 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 7,338 | ||
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 | 3,903 | ||
Total Cost | |||
Land | 108,653 | ||
Building & Improvements | 220,674 | ||
Total | 329,327 | ||
Accumulated Depreciation | (41,384) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 287,943 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 329,327 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 41,384 | ||
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 | 6,531 | ||
Total Cost | |||
Land | 19,611 | ||
Building & Improvements | 67,599 | ||
Total | 87,210 | ||
Accumulated Depreciation | (20,874) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 66,336 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 87,210 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 20,874 | ||
The Marketplace [Member] | |||
Initial Cost | |||
Land | 10,927 | ||
Building & Improvements | 36,052 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 957 | ||
Total Cost | |||
Land | 10,927 | ||
Building & Improvements | 37,009 | ||
Total | 47,936 | ||
Accumulated Depreciation | (7,104) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 40,832 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 47,936 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 7,104 | ||
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 | (26) | ||
Total Cost | |||
Land | 1,718 | ||
Building & Improvements | 6,230 | ||
Total | 7,948 | ||
Accumulated Depreciation | (1,303) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 6,645 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 7,948 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 1,303 | ||
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 | 5,871 | ||
Total Cost | |||
Land | 2,559 | ||
Building & Improvements | 13,817 | ||
Total | 16,376 | ||
Accumulated Depreciation | (4,474) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 11,902 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 16,376 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 4,474 | ||
The Pruneyard [Member] | |||
Initial Cost | |||
Land | 112,136 | ||
Building & Improvements | 86,918 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 2,162 | ||
Total Cost | |||
Land | 112,136 | ||
Building & Improvements | 89,080 | ||
Total | 201,216 | ||
Accumulated Depreciation | (11,275) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 189,941 | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (2,200) | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 201,216 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 11,275 | ||
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 | 120 | ||
Total Cost | |||
Land | 737 | ||
Building & Improvements | 598 | ||
Total | 1,335 | ||
Accumulated Depreciation | (183) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 1,152 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 1,335 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 183 | ||
The Village at Hunter's Lake [Member] | |||
Initial Cost | |||
Land | 9,735 | ||
Building & Improvements | 12,923 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 16 | ||
Total Cost | |||
Land | 9,735 | ||
Building & Improvements | 12,939 | ||
Total | 22,674 | ||
Accumulated Depreciation | (2,079) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 20,595 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 22,674 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 2,079 | ||
The Village at Riverstone [Member] | |||
Initial Cost | |||
Land | 17,179 | ||
Building & Improvements | 13,013 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (73) | ||
Total Cost | |||
Land | 17,179 | ||
Building & Improvements | 12,940 | ||
Total | 30,119 | ||
Accumulated Depreciation | (3,118) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 27,001 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 30,119 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 3,118 | ||
Town and Country [Member] | |||
Initial Cost | |||
Land | 4,664 | ||
Building & Improvements | 5,207 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 22 | ||
Total Cost | |||
Land | 4,664 | ||
Building & Improvements | 5,229 | ||
Total | 9,893 | ||
Accumulated Depreciation | (1,836) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 8,057 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 9,893 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 1,836 | ||
Town Square [Member] | |||
Initial Cost | |||
Land | 883 | ||
Building & Improvements | 8,132 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 270 | ||
Total Cost | |||
Land | 883 | ||
Building & Improvements | 8,402 | ||
Total | 9,285 | ||
Accumulated Depreciation | (5,386) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 3,899 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 9,285 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 5,386 | ||
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 | 1,127 | ||
Total Cost | |||
Land | 7,553 | ||
Building & Improvements | 22,681 | ||
Total | 30,234 | ||
Accumulated Depreciation | (5,120) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 25,114 | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (1,166) | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 30,234 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 5,120 | ||
Tustin Legacy [Member] | |||
Initial Cost | |||
Land | 13,829 | ||
Building & Improvements | 23,922 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 3 | ||
Total Cost | |||
Land | 13,828 | ||
Building & Improvements | 23,920 | ||
Total | 37,748 | ||
Accumulated Depreciation | (6,190) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 31,558 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 37,748 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 6,190 | ||
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 | 2,612 | ||
Total Cost | |||
Land | 17,263 | ||
Building & Improvements | 46,819 | ||
Total | 64,082 | ||
Accumulated Depreciation | (21,174) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 42,908 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 64,082 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 21,174 | ||
Twin Peaks [Member] | |||
Initial Cost | |||
Land | 5,200 | ||
Building & Improvements | 25,827 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 9,483 | ||
Total Cost | |||
Land | 6,557 | ||
Building & Improvements | 33,953 | ||
Total | 40,510 | ||
Accumulated Depreciation | (17,764) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 22,746 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 40,510 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 17,764 | ||
Unigold Shopping Center [Member] | |||
Initial Cost | |||
Land | 5,490 | ||
Building & Improvements | 5,144 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 6,637 | ||
Total Cost | |||
Land | 5,561 | ||
Building & Improvements | 11,710 | ||
Total | 17,271 | ||
Accumulated Depreciation | (4,807) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 12,464 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 17,271 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 4,807 | ||
University Commons [Member] | |||
Initial Cost | |||
Land | 4,070 | ||
Building & Improvements | 30,785 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 588 | ||
Total Cost | |||
Land | 4,070 | ||
Building & Improvements | 31,373 | ||
Total | 35,443 | ||
Accumulated Depreciation | (9,142) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 26,301 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 35,443 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 9,142 | ||
Valencia Crossroads [Member] | |||
Initial Cost | |||
Land | 17,921 | ||
Building & Improvements | 17,659 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,178 | ||
Total Cost | |||
Land | 17,921 | ||
Building & Improvements | 18,837 | ||
Total | 36,758 | ||
Accumulated Depreciation | (17,231) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 19,527 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 36,758 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 17,231 | ||
Valley Stream [Member] | |||
Initial Cost | |||
Land | 13,297 | ||
Building & Improvements | 16,241 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 573 | ||
Total Cost | |||
Land | 13,887 | ||
Building & Improvements | 16,224 | ||
Total | 30,111 | ||
Accumulated Depreciation | (713) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 29,398 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 30,111 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 713 | ||
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 | (303) | ||
Total Cost | |||
Land | 13,156 | ||
Building & Improvements | 20,240 | ||
Total | 33,396 | ||
Accumulated Depreciation | (7,629) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 25,767 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 33,396 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 7,629 | ||
Village at Lee Airpark [Member] | |||
Initial Cost | |||
Land | 11,099 | ||
Building & Improvements | 12,975 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 3,532 | ||
Total Cost | |||
Land | 11,803 | ||
Building & Improvements | 15,803 | ||
Total | 27,606 | ||
Accumulated Depreciation | (13,669) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 13,937 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 27,606 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 13,669 | ||
Village Center [Member] | |||
Initial Cost | |||
Land | 3,885 | ||
Building & Improvements | 14,131 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 9,610 | ||
Total Cost | |||
Land | 5,480 | ||
Building & Improvements | 22,146 | ||
Total | 27,626 | ||
Accumulated Depreciation | (12,613) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 15,013 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 27,626 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 12,613 | ||
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 | 895 | ||
Total Cost | |||
Land | 49,037 | ||
Building & Improvements | 23,513 | ||
Total | 72,550 | ||
Accumulated Depreciation | (5,236) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 67,314 | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (5,031) | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 72,550 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 5,236 | ||
Wading River [Member] | |||
Initial Cost | |||
Land | 14,969 | ||
Building & Improvements | 18,641 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (260) | ||
Total Cost | |||
Land | 14,915 | ||
Building & Improvements | 18,435 | ||
Total | 33,350 | ||
Accumulated Depreciation | (718) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 32,632 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 33,350 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 718 | ||
Walker Center [Member] | |||
Initial Cost | |||
Land | 3,840 | ||
Building & Improvements | 7,232 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 4,039 | ||
Total Cost | |||
Land | 3,878 | ||
Building & Improvements | 11,233 | ||
Total | 15,111 | ||
Accumulated Depreciation | (8,273) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 6,838 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 15,111 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 8,273 | ||
Walmart Norwalk [Member] | |||
Initial Cost | |||
Land | 20,394 | ||
Building & Improvements | 21,261 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 9 | ||
Total Cost | |||
Land | 20,394 | ||
Building & Improvements | 21,270 | ||
Total | 41,664 | ||
Accumulated Depreciation | (5,443) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 36,221 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 41,664 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 5,443 | ||
Waterstone Plaza [Member] | |||
Initial Cost | |||
Land | 5,498 | ||
Building & Improvements | 13,500 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 62 | ||
Total Cost | |||
Land | 5,498 | ||
Building & Improvements | 13,562 | ||
Total | 19,060 | ||
Accumulated Depreciation | (3,040) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 16,020 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 19,060 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 3,040 | ||
Welleby Plaza [Member] | |||
Initial Cost | |||
Land | 1,496 | ||
Building & Improvements | 7,787 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 2,140 | ||
Total Cost | |||
Land | 1,496 | ||
Building & Improvements | 9,927 | ||
Total | 11,423 | ||
Accumulated Depreciation | (8,702) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 2,721 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 11,423 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 8,702 | ||
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 | 2,707 | ||
Total Cost | |||
Land | 2,600 | ||
Building & Improvements | 14,279 | ||
Total | 16,879 | ||
Accumulated Depreciation | (7,451) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 9,428 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 16,879 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 7,451 | ||
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 | 331 | ||
Total Cost | |||
Land | 15,386 | ||
Building & Improvements | 16,473 | ||
Total | 31,859 | ||
Accumulated Depreciation | (2,950) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 28,909 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 31,859 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 2,950 | ||
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 | 678 | ||
Total Cost | |||
Land | 1,857 | ||
Building & Improvements | 8,250 | ||
Total | 10,107 | ||
Accumulated Depreciation | (6,706) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 3,401 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 10,107 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 6,706 | ||
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 | 239 | ||
Total Cost | |||
Land | 10,561 | ||
Building & Improvements | 10,031 | ||
Total | 20,592 | ||
Accumulated Depreciation | (2,773) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 17,819 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 20,592 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 2,773 | ||
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 | 2,892 | ||
Total Cost | |||
Land | 5,840 | ||
Building & Improvements | 8,651 | ||
Total | 14,491 | ||
Accumulated Depreciation | (5,236) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 9,255 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 14,491 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 5,236 | ||
Westbard Square [Member] | |||
Initial Cost | |||
Land | 127,859 | ||
Building & Improvements | 21,514 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (18,733) | ||
Total Cost | |||
Land | 117,732 | ||
Building & Improvements | 12,908 | ||
Total | 130,640 | ||
Accumulated Depreciation | (11,941) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 118,699 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 130,640 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 11,941 | ||
Westbury Plaza [Member] | |||
Initial Cost | |||
Land | 116,129 | ||
Building & Improvements | 51,460 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 6,005 | ||
Total Cost | |||
Land | 117,559 | ||
Building & Improvements | 56,035 | ||
Total | 173,594 | ||
Accumulated Depreciation | (12,517) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 161,077 | ||
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 | 173,594 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 12,517 | ||
Westchase [Member] | |||
Initial Cost | |||
Land | 5,302 | ||
Building & Improvements | 8,273 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,127 | ||
Total Cost | |||
Land | 5,302 | ||
Building & Improvements | 9,400 | ||
Total | 14,702 | ||
Accumulated Depreciation | (4,675) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 10,027 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 14,702 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 4,675 | ||
Westchester Commons [Member] | |||
Initial Cost | |||
Land | 3,366 | ||
Building & Improvements | 11,751 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 11,062 | ||
Total Cost | |||
Land | 4,894 | ||
Building & Improvements | 21,285 | ||
Total | 26,179 | ||
Accumulated Depreciation | (10,450) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 15,729 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 26,179 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 10,450 | ||
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 | 30,533 | ||
Total Cost | |||
Land | 17,620 | ||
Building & Improvements | 47,151 | ||
Total | 64,771 | ||
Accumulated Depreciation | (33,500) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 31,271 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 64,771 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 33,500 | ||
Westport Plaza [Member] | |||
Initial Cost | |||
Land | 9,035 | ||
Building & Improvements | 7,455 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (40) | ||
Total Cost | |||
Land | 9,035 | ||
Building & Improvements | 7,415 | ||
Total | 16,450 | ||
Accumulated Depreciation | (1,947) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 14,503 | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (1,457) | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 16,450 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 1,947 | ||
Westport Row [Member] | |||
Initial Cost | |||
Land | 43,597 | ||
Building & Improvements | 16,428 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 6,349 | ||
Total Cost | |||
Land | 45,260 | ||
Building & Improvements | 21,114 | ||
Total | 66,374 | ||
Accumulated Depreciation | (5,505) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 60,869 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 66,374 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 5,505 | ||
Westwood Village [Member] | |||
Initial Cost | |||
Land | 19,933 | ||
Building & Improvements | 25,301 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (1,626) | ||
Total Cost | |||
Land | 18,979 | ||
Building & Improvements | 24,629 | ||
Total | 43,608 | ||
Accumulated Depreciation | (17,551) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 26,057 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 43,608 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 17,551 | ||
Willa Springs [Member] | |||
Initial Cost | |||
Land | 13,322 | ||
Building & Improvements | 15,314 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 177 | ||
Total Cost | |||
Land | 13,322 | ||
Building & Improvements | 15,491 | ||
Total | 28,813 | ||
Accumulated Depreciation | (809) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 28,004 | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances | (16,700) | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 28,813 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 809 | ||
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 | 974 | ||
Total Cost | |||
Land | 7,444 | ||
Building & Improvements | 4,686 | ||
Total | 12,130 | ||
Accumulated Depreciation | (1,506) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 10,624 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 12,130 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 1,506 | ||
Willow Festival [Member] | |||
Initial Cost | |||
Land | 1,954 | ||
Building & Improvements | 56,501 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 3,478 | ||
Total Cost | |||
Land | 1,976 | ||
Building & Improvements | 59,957 | ||
Total | 61,933 | ||
Accumulated Depreciation | (21,751) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 40,182 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 61,933 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 21,751 | ||
Willow Oaks [Member] | |||
Initial Cost | |||
Land | 6,664 | ||
Building & Improvements | 7,908 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (343) | ||
Total Cost | |||
Land | 6,294 | ||
Building & Improvements | 7,935 | ||
Total | 14,229 | ||
Accumulated Depreciation | (3,518) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 10,711 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 14,229 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 3,518 | ||
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 | 2,358 | ||
Total Cost | |||
Land | 51,992 | ||
Building & Improvements | 80,359 | ||
Total | 132,351 | ||
Accumulated Depreciation | (15,214) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 117,137 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 132,351 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 15,214 | ||
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 | 1,617 | ||
Total Cost | |||
Land | 1,421 | ||
Building & Improvements | 7,899 | ||
Total | 9,320 | ||
Accumulated Depreciation | (5,547) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 3,773 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 9,320 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 5,547 | ||
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 | 383 | ||
Total Cost | |||
Land | 5,500 | ||
Building & Improvements | 7,578 | ||
Total | 13,078 | ||
Accumulated Depreciation | (4,628) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 8,450 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 13,078 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 4,628 | ||
Woodmen Plaza [Member] | |||
Initial Cost | |||
Land | 7,621 | ||
Building & Improvements | 11,018 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 1,330 | ||
Total Cost | |||
Land | 7,621 | ||
Building & Improvements | 12,348 | ||
Total | 19,969 | ||
Accumulated Depreciation | (12,043) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 7,926 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 19,969 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 12,043 | ||
Woodside Central [Member] | |||
Initial Cost | |||
Land | 3,500 | ||
Building & Improvements | 9,288 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 691 | ||
Total Cost | |||
Land | 3,489 | ||
Building & Improvements | 9,990 | ||
Total | 13,479 | ||
Accumulated Depreciation | (6,203) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 7,276 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 13,479 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 6,203 | ||
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 | ||
Accumulated Depreciation | (1,325) | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 0 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 1,325 | ||
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Ending balance | 1,325 | ||
Land held for future development [Member] | |||
Initial Cost | |||
Land | 11,349 | ||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | (4,615) | ||
Total Cost | |||
Land | 6,734 | ||
Total | 6,734 | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 6,734 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | 6,734 | ||
Construction in progress [Member] | |||
Initial Cost | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 133,433 | ||
Total Cost | |||
Building & Improvements | 133,433 | ||
Total | 133,433 | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net | 133,433 | ||
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Ending balance | $ 133,433 |