Marketable Securities

9 Months Ended

Sep. 30, 2015

Marketable Securities [Abstract]

Marketable Securities [Text Block]

6.Marketable Securities

As of September 30, 2015 and December 31,2014, 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(“Kings Plaza”) 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 September 30, 2015 and December 31, 2014, the fair value of these shares was$41,119,000 and $44,646,000, respectively, based on Macerich's closing share price of $76.82 per share and $83.41 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.”