Marketable Securities

3 Months Ended

Mar. 31, 2014

Marketable Securities [Abstract]

Marketable Securities [Text Block]

6.Marketable Securities

As of March 31, 2014 and December 31, 2013, we owned 535,265 common shares of The Macerich Company (“Macerich”) (NYSE: MAC), which were received in connection with the sale of the Kings Plaza Regional Shopping Center to Macerich in November 2012. These shares have an economic cost of $56.05 per share, or $30,000,000 in the aggregate. As of March 31, 2014 and December 31, 2013, the fair valuesof these shares were$33,363,000 and $31,522,000, respectively, based on Macerich's closing share price of $62.33 per share and $58.89 per share, respectively. These shares are included in “marketable securities” on our consolidated balance sheets and are classified as available-for-sale. Available-for-sale securities are presented at fair value andunrealized gains and losses resulting from the mark-to-market of these securities are included in “other comprehensive income.”