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Rego Park II Loan Participation
12 Months Ended
Dec. 31, 2017
Mortgage Loans on Real Estate [Abstract]  
Rego Park II Loan Participation
REGO PARK II LOAN PARTICIPATION
On July 28, 2017, we entered into a participation and servicing agreement with the lender on our Rego Park II shopping center loan, which matures on November 30, 2018. We invested $200,000,000 to participate in the loan and are entitled to interest at LIBOR plus 1.60% (3.17% as of December 31, 2017). The investment is presented as “Rego Park II loan participation” on our consolidated balance sheet as of December 31, 2017 and interest earned is recognized as “interest and other income, net” in our consolidated statement of income for the year ended December 31, 2017.