Marketable Securities

12 Months Ended

Dec. 31, 2014

Marketable Securities [Abstract]

Marketable Securities [Text Block]

5.MARKETABLE SECURITIES

As of December 31, 2014 and 2013, we owned 535,265 Macerich common shares, which were receivedin connection withthe sale of Kings Plazato Macerich. These shares have an economic cost of $56.05 per share, or $30,000,000 in the aggregate. As of December 31, 2014 and 2013, the fair value of these shares were $44,646,000and $31,522,000, respectively, based on Macerich's closing share price of $83.41per 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 and unrealized gains and losses resulting from the mark-to-market of these securities are included in “other comprehensive income.”Other comprehensive income includes unrealized gains of $13,124,000 and $316,000 for the years ended December 31, 2014 and 2013, respectively.