Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2013

Accounting Policies [Abstract]

Summary of Properties Owned

A summary of the properties owned by us is as follows:

Retail
Carmel Country Plaza	Del Monte Center
Carmel Mountain Plaza	Geary Marketplace
South Bay Marketplace	The Shops at Kalakaua
Rancho Carmel Plaza	Waikele Center
Lomas Santa Fe Plaza	Alamo Quarry Market
Solana Beach Towne Centre

Office
Torrey Reserve Campus	Lloyd District Portfolio
Solana Beach Corporate Centre	City Center Bellevue
The Landmark at One Market
One Beach Street
First & Main

Multifamily

Loma Palisades

Imperial Beach Gardens

Mariner's Point

Santa Fe Park RV Resort

Mixed-Use

Waikiki Beach Walk Retail and Embassy Suites™ Hotel

Held for Development and Construction in Progress

Solana Beach Corporate Centre – Land

Solana Beach – Highway 101 – Land

Sorrento Pointe – Land

Torrey Reserve – Land

Lloyd District Portfolio – Land

NOTE 2. REAL ESTATE

A summary of our real estate investments is as follows (in thousands):

	Retail			Office			Multifamily			Mixed-Use			Total
December 31, 2013
Land	$	248,008		$	150,300		$	18,477		$	76,635		$	493,420		(1)
Buildings	499,091			618,077			42,270			123,142			1,282,580
Land improvements	39,892			7,528			3,010			2,363			52,793
Tenant improvements	46,649			51,016			—			1,697			99,362
Furniture, fixtures, and equipment	489			517			5,482			10,080			16,568
Construction in progress	2,673			46,727			19			1,275			50,694
	836,802			874,165			69,258			215,192			1,995,417
Accumulated depreciation	(185,095		)	(84,012		)	(33,909		)	(15,565		)	(318,581		)
Net real estate	$	651,707		$	790,153		$	35,349		$	199,627		$	1,676,836
December 31, 2012
Land	$	247,884		$	150,300		$	18,477		$	76,635		$	493,296		(1)
Buildings	497,922			600,146			41,968			123,084			1,263,120
Land improvements	39,882			7,528			2,990			2,363			52,763
Tenant improvements	46,393			44,232			—			1,757			92,382
Furniture, fixtures, and equipment	486			1,124			5,082			9,563			16,255
Construction in progress	1,903			18,698			1			258			20,860
	834,470			822,028			68,518			213,660			1,938,676
Accumulated depreciation	(165,293		)	(62,825		)	(32,127		)	(10,249		)	(270,494		)
Net real estate	$	669,177		$	759,203		$	36,391		$	203,411		$	1,668,182

(1) Land related to held for development and construction in progress is included in the Held for Development and Construction in Progress classifications on the consolidated balance sheets.

Consolidated Statements of Cash Flows-Supplemental Disclosures

The following table provides supplemental disclosures related to the Consolidated Statements of Cash Flows (in thousands):

	Year Ended December 31,
	2013		2012			2011
Supplemental cash flow information
Total interest costs incurred	$	60,133	$	58,074		$	54,580
Interest capitalized	$	2,113	$	746		$	—
Interest expense	$	58,020	$	57,328		$	54,580
Cash paid for interest, net of amounts capitalized (including discontinued operations)	$	54,345	$	55,349		$	52,713
Cash paid for income taxes	$	901	$	1,239		$	172
Supplemental schedule of noncash investing and financing activities
Accounts payable and accrued liabilities for construction in progress	$	5,001	$	4,944		$	2,396
Accrued leasing commissions	$	1,385	$	(782	)	$	—
Assumption of debt upon acquisition	$	—	$	—		$	268,008
Assumption of notes to affiliates upon acquisition	$	—	$	—		$	14,824
Acquisition of working capital deficit, net of cash	$	—	$	—		$	(4,176	)
Distribution of investment in joint venture not acquired	$	—	$	—		$	11,480
Issuance of common shares and units for acquisition of properties	$	—	$	—		$	33,854
Notes receivable from affiliate settled in common units	$	—	$	—		$	21,797
Notes payable to affiliates settled in common units	$	—	$	—		$	828
Reduction to capital for prepaid equity financing costs	$	437	$	—		$	1,974
Transfer taxes accrued at time of initial public offering	$	—	$	—		$	6,556