Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2014

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 – Construction in Progress

Lloyd District Portfolio – Construction in Progress

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

	Retail			Office			Multifamily			Mixed-Use			Total
December 31, 2014
Land	$	248,386		$	143,575		$	25,507		$	76,635		$	494,103
Buildings	500,088			621,343			42,270			125,798			1,289,499
Land improvements	39,999			8,273			3,085			2,363			53,720
Tenant improvements	50,504			56,127			—			1,679			108,310
Furniture, fixtures, and equipment	491			750			5,832			5,383			12,456
Construction in progress	5,327			31,878			141,205			326			178,736			(1)
	844,795			861,946			217,899			212,184			2,136,824
Accumulated depreciation	(205,339		)	(104,092		)	(35,431		)	(16,562		)	(361,424		)
Net real estate	$	639,456		$	757,854		$	182,468		$	195,622		$	1,775,400
December 31, 2013
Land	$	248,008		$	143,575		$	25,507		$	76,635		$	493,725
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			14,189			32,252			1,275			50,389			(1)
	836,802			834,902			108,521			215,192			1,995,417
Accumulated depreciation	(185,095		)	(84,012		)	(33,909		)	(15,565		)	(318,581		)
Net real estate	$	651,707		$	750,890		$	74,612		$	199,627		$	1,676,836

(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,
	2014		2013		2012
Supplemental cash flow information
Total interest costs incurred	$	58,455	$	60,133	$	58,074
Interest capitalized	$	5,490	$	2,113	$	746
Interest expense	$	52,965	$	58,020	$	57,328
Cash paid for interest, net of amounts capitalized (including discontinued operations)	$	48,032	$	54,345	$	55,349
Cash paid for income taxes	$	404	$	901	$	1,239
Supplemental schedule of noncash investing and financing activities
Accounts payable and accrued liabilities for construction in progress	$	9,908	$	5,001	$	4,944
Accrued leasing commissions	$	763	$	1,385	$	(782	)
Accrued placement fees for senior guaranteed notes payable	$	750	$	—	$	—
Reduction to capital for prepaid equity financing costs	$	40	$	437	$	—