10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-Q

(Mark One)

ý QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarter ended September 30, 2013

OR

¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from [] to []

Commission file number 1-9876

Weingarten Realty Investors

(Exact name of registrant as specified in its charter)

TEXAS	74-1464203
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)
2600 Citadel Plaza Drive
P.O. Box 924133
Houston, Texas	77292-4133
(Address of principal executive offices)	(Zip Code)

(713) 866-6000

(Registrant's telephone number)

(Former name, former address and former fiscal

year, if changed since last report)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.     YES ý NO¨

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).     YES ý         NO ¨

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer ý	Accelerated filer ¨
Non-accelerated filer ¨	Smaller reporting company ¨
(Do not check if a smaller reporting company)

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).     YES ¨             NO ý

As of October 31, 2013, there were 121,944,210 common shares of beneficial interest of Weingarten Realty Investors, $.03 par value, outstanding.

TABLE OF CONTENTS

PART I.		Financial Information:	Page Number
	Item 1.	Financial Statements (unaudited):
		Condensed Consolidated Statements of Operations and Comprehensive Income for the Three and Nine Months Ended September 30, 2013 and 2012	3
		Condensed Consolidated Balance Sheets as of September 30, 2013 and December 31, 2012	4
		Condensed Consolidated Statements of Cash Flows for the Nine Months Ended September 30, 2013 and 2012	5
		Condensed Consolidated Statements of Equity for the Nine Months Ended September 30, 2013 and 2012	6
		Notes to Condensed Consolidated Financial Statements	7
	Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	29
	Item 3.	Quantitative and Qualitative Disclosures About Market Risk	43
	Item 4.	Controls and Procedures	43
PART II.		Other Information:
	Item 1.	Legal Proceedings	43
	Item 1A.	Risk Factors	43
	Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	44
	Item 3.	Defaults Upon Senior Securities	44
	Item 4.	Mine Safety Disclosures	44
	Item 5.	Other Information	44
	Item 6.	Exhibits	44
Signatures			45
Exhibit Index			46

2

PART I-FINANCIAL INFORMATION

ITEM 1. Financial Statements

WEINGARTEN REALTY INVESTORS

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME

(Unaudited)

(In thousands, except per share amounts)

	Three Months Ended September 30,						Nine Months Ended September 30,
	2013			2012			2013			2012
Revenues:
Rentals, net	$	127,548		$	119,211		$	374,266		$	342,507
Other	3,119			3,108			9,486			8,346
Total	130,667			122,319			383,752			350,853
Expenses:
Depreciation and amortization	37,122			34,591			112,347			97,845
Operating	25,530			25,191			74,213			69,048
Real estate taxes, net	15,624			14,499			45,242			41,306
Impairment loss	2,358			197			2,579			9,585
General and administrative	5,966			6,417			18,818			21,101
Total	86,600			80,895			253,199			238,885
Operating Income	44,067			41,424			130,553			111,968
Interest Expense, net	(27,660		)	(27,482		)	(73,689		)	(86,692		)
Interest and Other Income, net	1,864			1,818			5,788			4,786
Gain on Sale of Real Estate Joint Venture and Partnership Interests	7			—			11,599			5,562
Equity in Earnings (Losses) of Real Estate Joint Ventures and Partnerships, net	5,125			4,905			14,467			(6,715		)
Gain on Acquisition	—			1,869			—			1,869
Benefit (Provision) for Income Taxes	215			(722		)	214			(378		)
Income from Continuing Operations	23,618			21,812			88,932			30,400
Operating Income from Discontinued Operations	394			5,074			5,656			16,463
Gain on Sale of Property from Discontinued Operations	38,214			14,826			116,226			49,724
Income from Discontinued Operations	38,608			19,900			121,882			66,187
Gain on Sale of Property	163			335			570			859
Net Income	62,389			42,047			211,384			97,446
Less: Net Income Attributable to Noncontrolling Interests	(1,847		)	(1,774		)	(41,056		)	(4,557		)
Net Income Adjusted for Noncontrolling Interests	60,542			40,273			170,328			92,889
Dividends on Preferred Shares	(2,710		)	(8,869		)	(15,463		)	(26,607		)
Redemption Costs of Preferred Shares	—			—			(17,944		)	—
Net Income Attributable to Common Shareholders	$	57,832		$	31,404		$	136,921		$	66,282
Earnings Per Common Share - Basic:
Income from continuing operations attributable to common shareholders	$	0.16		$	0.10		$	0.43		$	0.01
Income from discontinued operations	0.32			0.16			0.70			0.54
Net income attributable to common shareholders	$	0.48		$	0.26		$	1.13		$	0.55
Earnings Per Common Share - Diluted:
Income from continuing operations attributable to common shareholders	$	0.16		$	0.10		$	0.43		$	0.01
Income from discontinued operations	0.31			0.16			0.69			0.53
Net income attributable to common shareholders	$	0.47		$	0.26		$	1.12		$	0.54
Comprehensive Income:
Net Income	$	62,389		$	42,047		$	211,384		$	97,446
Other Comprehensive Income:
Net unrealized loss on investments, net of taxes	(34		)	—			(34		)	—
Net unrealized (loss) gain on derivatives	(293		)	(49		)	6,735			(181		)
Amortization of loss on derivatives	480			664			1,802			1,985
Retirement liability adjustment	364			—			1,093			—
Total	517			615			9,596			1,804
Comprehensive Income	62,906			42,662			220,980			99,250
Comprehensive Income Attributable to Noncontrolling Interests	(1,847		)	(1,774		)	(41,056		)	(4,557		)
Comprehensive Income Adjusted for Noncontrolling Interests	$	61,059		$	40,888		$	179,924		$	94,693

See Notes to Condensed Consolidated Financial Statements.

3

WEINGARTEN REALTY INVESTORS

CONDENSED CONSOLIDATED BALANCE SHEETS

(Unaudited)

(In thousands, except per share amounts)

	September 30, 2013			December 31, 2012
ASSETS
Property	$	4,308,849		$	4,399,850
Accumulated Depreciation	(1,060,419		)	(1,040,839		)
Property, net *	3,248,430			3,359,011
Investment in Real Estate Joint Ventures and Partnerships, net	281,203			289,049
Total	3,529,633			3,648,060
Notes Receivable from Real Estate Joint Ventures and Partnerships	84,142			89,776
Unamortized Debt and Lease Costs, net	137,000			135,783
Accrued Rent and Accounts Receivable (net of allowance for doubtful  accounts of $10,199 in 2013 and $12,127 in 2012) *	76,828			79,540
Cash and Cash Equivalents *	51,730			19,604
Restricted Deposits and Mortgage Escrows	57,468			44,096
Other, net	181,746			167,925
Total Assets	$	4,118,547		$	4,184,784
LIABILITIES AND EQUITY
Debt, net *	$	2,293,898		$	2,204,030
Accounts Payable and Accrued Expenses	116,985			119,699
Other, net	113,375			120,900
Total Liabilities	2,524,258			2,444,629
Commitments and Contingencies	—			—
Equity:
Shareholders’ Equity:
Preferred Shares of Beneficial Interest - par value, $.03 per share;  shares authorized: 10,000
6.75% Series D cumulative redeemable preferred shares of beneficial interest;  100 shares issued; no shares outstanding in 2013 and 100 shares outstanding  in 2012; liquidation preference $75,000 in 2012	—			3
6.5% Series F cumulative redeemable preferred shares of beneficial interest;  140 shares issued; 60 shares outstanding in 2013 and 140 shares outstanding  in 2012; liquidation preference $150,000 in 2013 and $350,000 in 2012	2			4
Common Shares of Beneficial Interest - par value, $.03 per share; shares authorized: 275,000; shares issued and outstanding: 121,940 in 2013 and 121,505 in 2012	3,683			3,663
Additional Paid-In Capital	1,690,687			1,934,183
Net Income Less Than Accumulated Dividends	(310,568		)	(335,980		)
Accumulated Other Comprehensive Loss	(15,147		)	(24,743		)
Total Shareholders’ Equity	1,368,657			1,577,130
Noncontrolling Interests	225,632			163,025
Total Equity	1,594,289			1,740,155
Total Liabilities and Equity	$	4,118,547		$	4,184,784
* Consolidated Variable Interest Entities' Assets and Liabilities included in the above balances (See Note 17):
Property, net	$	210,134		$	226,685
Accrued Rent and Accounts Receivable, net	5,870			8,095
Cash and Cash Equivalents	13,640			11,706
Debt, net	210,400			276,420

See Notes to Condensed Consolidated Financial Statements.

4

WEINGARTEN REALTY INVESTORS CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (In thousands)
	Nine Months Ended September 30,
	2013			2012
Cash Flows from Operating Activities:
Net Income	$	211,384		$	97,446
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	116,216			110,300
Amortization of deferred financing costs, net	(8,156		)	386
Impairment loss	2,815			15,410
Equity in (earnings) losses of real estate joint ventures and partnerships, net	(14,467		)	6,715
Gain on acquisition	—			(1,869		)
Gain on sale of real estate joint venture and partnership interests	(11,599		)	(5,562		)
Gain on sale of property	(116,796		)	(50,583		)
Distributions of income from real estate joint ventures and partnerships, net	2,623			2,160
Changes in accrued rent and accounts receivable, net	(1,435		)	2,095
Changes in other assets, net	(17,189		)	(17,740		)
Changes in accounts payable, accrued expenses and other liabilities, net	1,488			(7,021		)
Other, net	6,062			10,472
Net cash provided by operating activities	170,946			162,209
Cash Flows from Investing Activities:
Acquisition of real estate and land	(58,173		)	(196,801		)
Development and capital improvements	(50,014		)	(68,345		)
Proceeds from sale of property and real estate equity investments, net	267,655			480,502
Change in restricted deposits and mortgage escrows	(13,461		)	50
Notes receivable from real estate joint ventures and partnerships and other receivables:
Advances	(289		)	(6,468		)
Collections	7,224			74,296
Real estate joint ventures and partnerships:
Investments	(21,353		)	(8,445		)
Distributions of capital	32,660			31,910
Other, net	(7,086		)	—
Net cash provided by investing activities	157,163			306,699
Cash Flows from Financing Activities:
Proceeds from issuance of debt	324,584			—
Principal payments of debt	(283,902		)	(412,091		)
Changes in unsecured credit facilities	48,500			83,500
Purchase of marketable securities in connection with the legal defeasance of debt	(5,823		)	—
Proceeds from issuance of common shares of beneficial interest, net	5,778			4,753
Repurchase of preferred shares of beneficial interest	(275,000		)	—
Common and preferred dividends paid	(126,269		)	(130,105		)
Debt issuance costs paid	(4,702		)	(1,735		)
Distributions to noncontrolling interests	(13,455		)	(10,119		)
Contributions from noncontrolling interests	33,884			2,123
Other, net	422			213
Net cash used in financing activities	(295,983		)	(463,461		)
Net increase in cash and cash equivalents	32,126			5,447
Cash and cash equivalents at January 1	19,604			13,642
Cash and cash equivalents at September 30	$	51,730		$	19,089
Interest paid during the period (net of amount capitalized of $1,724 and $2,394, respectively)	$	85,594		$	98,024
Income taxes paid during the period	$	1,860		$	1,548

See Notes to Condensed Consolidated Financial Statements.

5

WEINGARTEN REALTY INVESTORS

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY

(Unaudited)

(In thousands, except per share amounts)

	Preferred Shares of Beneficial Interest			Common Shares of Beneficial Interest		Additional Paid-In Capital			Net Income Less Than Accumulated Dividends			Accumulated  Other Comprehensive Loss			Noncontrolling Interests			Total
Balance, January 1, 2012	$	8		$	3,641	$	1,983,978		$	(304,504	)	$	(27,743	)	$	168,202		$	1,823,582
Net income									92,889						4,557			97,446
Shares issued under benefit plans				17		11,486												11,503
Dividends declared – common shares (1)									(105,466		)							(105,466		)
Dividends declared – preferred shares (2)									(24,639		)							(24,639		)
Distributions to noncontrolling interests															(10,119		)	(10,119		)
Contributions from noncontrolling interests															2,123			2,123
Other comprehensive income												1,804						1,804
Other, net						1,766			(1,968		)				819			617
Balance , September 30, 2012	$	8		$	3,658	$	1,997,230		$	(343,688	)	$	(25,939	)	$	165,582		$	1,796,851
Balance, January 1, 2013	$	7		$	3,663	$	1,934,183		$	(335,980	)	$	(24,743	)	$	163,025		$	1,740,155
Net income									170,328						41,056			211,384
Redemption of Series D preferred shares	(3		)			(72,755		)	(2,242		)							(75,000		)
Redemption of Series F preferred shares	(2		)			(184,296		)	(15,702		)							(200,000		)
Shares issued under benefit plans				20		12,473												12,493
Dividends declared – common shares (1)									(111,509		)							(111,509		)
Dividends declared – preferred shares (2)									(14,760		)							(14,760		)
Distributions to noncontrolling interests															(13,455		)	(13,455		)
Contributions from noncontrolling interests															33,884			33,884
Other comprehensive income												9,596						9,596
Other, net						1,082			(703		)				1,122			1,501
Balance, September 30, 2013	$	2		$	3,683	$	1,690,687		$	(310,568	)	$	(15,147	)	$	225,632		$	1,594,289

_______________

(1) Common dividend per share was $.915 and $.870 for the nine months ended September 30, 2013 and 2012, respectively.

(2) Series D preferred dividend per share was $13.08 and $37.97 for the nine months ended September 30, 2013 and 2012, respectively. Series E preferred dividend per share was $130.31 for the nine months ended September 30, 2012. Series F preferred dividend per share was $119.62 and $121.88 for the nine months ended September 30, 2013 and 2012, respectively.

See Notes to Condensed Consolidated Financial Statements.

6

WEINGARTEN REALTY INVESTORS

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

Note 1. Summary of Significant Accounting Policies

Business

Weingarten Realty Investors is a real estate investment trust (“REIT”) organized under the Texas Business Organizations Code. We currently operate, and intend to operate in the future, as a REIT.

We, and our predecessor entity, began the ownership and development of shopping centers and other commercial real estate in 1948. Our primary business is leasing space to tenants in the shopping centers we own or lease. We also provide property management services for which we charge fees for either joint ventures where we are partners or for other outside owners.

We operate a portfolio of neighborhood and community shopping centers, totaling approximately 50.4 million square feet of gross leaseable area, that is either owned by us or others. We have a diversified tenant base, with our largest tenant comprising only 3.2% of total rental revenues during the first nine months of 2013. Total revenues less operating expenses and real estate taxes from continuing operations ("net operating income from continuing operations") generated by our properties located in Houston and its surrounding areas was 20.0% of total net operating income from continuing operations for the nine months ended September 30, 2013, and an additional 7.8% of net operating income from continuing operations is generated from properties that are located in other parts of Texas.

Basis of Presentation

Our consolidated financial statements include the accounts of our subsidiaries, certain partially owned real estate joint ventures or partnerships and variable interest entities (“VIEs”) which meet the guidelines for consolidation. All intercompany balances and transactions have been eliminated.

The condensed consolidated financial statements included in this report are unaudited; however, amounts presented in the condensed consolidated balance sheet as of December 31, 2012 are derived from our audited financial statements at that date. In our opinion, all adjustments necessary for a fair presentation of such financial statements have been included. Such adjustments consisted of normal recurring items. Interim results are not necessarily indicative of results for a full year.

The condensed consolidated financial statements and notes are presented as permitted by Form 10-Q and certain information included in our annual financial statements and notes thereto has been condensed or omitted. These condensed consolidated financial statements should be read in conjunction with our Annual Report on Form 10-K for the year ended December 31, 2012.

Our financial statements are prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). Such statements require management to make estimates and assumptions that affect the reported amounts on our consolidated financial statements. Actual results could differ from these estimates. We have evaluated subsequent events for recognition or disclosure in our consolidated financial statements.

Restricted Deposits and Mortgage Escrows

Restricted deposits and mortgage escrows consist of escrow deposits held by lenders primarily for property taxes, insurance and replacement reserves and restricted cash that is held for a specific use or in a qualified escrow account for the purposes of completing like-kind exchange transactions.

7

Our restricted deposits and mortgage escrows consist of the following (in thousands):

	September 30, 2013		December 31, 2012
Restricted cash (1)	$	52,567	$	36,944
Mortgage escrows	4,901		7,152
Total	$	57,468	$	44,096

_______________

(1) The increase between the periods presented is primarily attributable to $50.3 million placed in a qualified escrow account, less the use of $30.7 million for the purpose of completing like-kind exchange transactions.

Accumulated Other Comprehensive Loss

Changes in accumulated other comprehensive loss by component consists of the following (in thousands):

	Loss on Investments		(Gain) Loss on Cash Flow Hedges				Defined Benefit Pension Plan				Total
Balance, December 31, 2012	$	—	$	7,489			$	17,254			$	24,743
Change excluding amounts reclassified from accumulated other comprehensive income	34		(6,735		)		(103		)		(6,804		)
Amounts reclassified from accumulated other comprehensive income	—		(1,802		)	(1)	(990		)	(2)	(2,792		)
Net other comprehensive income	34		(8,537		)		(1,093		)		(9,596		)
Balance, September 30, 2013	$	34	$	(1,048	)		$	16,161			$	15,147

_______________

(1) This reclassification component is included in interest expense (see Note 7 for additional information).

(2) This reclassification component is included in the computation of net periodic benefit cost (see Note 14 for additional information).

Reclassifications

The reclassification of prior years’ operating results for certain properties classified as discontinued operations was made to conform to the current year presentation (see Note 10 and 12 for additional information). These items had no impact on previously reported net income, the consolidated balance sheet or cash flows.

Note 2. Newly Issued Accounting Pronouncements

In December 2011, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2011-11, “Disclosures about Offsetting Assets and Liabilities,” which requires entities to provide new disclosures about offsetting and related arrangements for financial instruments and derivatives. The provisions of ASU No. 2011-11 were effective for us on January 1, 2013, and were required to be applied retrospectively. The adoption of this ASU did not materially impact our consolidated financial statements, but required additional disclosures.

In January 2013, the FASB issued ASU No. 2013-01, "Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities," which amends the scope of ASU No. 2011-11 to apply only to entities with derivatives accounted for in accordance with Accounting Standard Code 815. The provisions of ASU No. 2013-01 were effective for us on January 1, 2013, and were required to be applied retrospectively. The adoption of this ASU did not materially impact our consolidated financial statements.

8

In February 2013, the FASB issued ASU No. 2013-02, “Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income,” which requires an entity to provide information about the amounts reclassified out of accumulated other comprehensive income by component. In addition, an entity is required to present significant amounts reclassified out of accumulated other comprehensive income by respective line items of net income if it is required to be reclassified to net income in its entirety. For other reclassified amounts, an entity is required cross-reference to other disclosures that provide additional detail about those amounts. The provisions of ASU No. 2013-02 were effective for us on January 1, 2013, and have been applied prospectively. The adoption of this ASU did not materially impact our consolidated financial statements, but required additional disclosures.

In February 2013, the FASB issued ASU No. 2013-04, "Obligations Resulting From Joint and Several Liability Arrangements for Which the Total Amount of the Obligation is Fixed at the Reporting Date." This ASU requires an entity to measure obligations resulting from joint and several liability arrangements for which the total amount of the obligation is fixed at the reporting date, as the sum of (1) the amount the reporting entity has agreed to pay in accordance to the arrangement and (2) any additional amounts the reporting entity expects to pay on behalf of its co-obligors. Additional disclosures on the nature and amounts of the obligation will also be required. The provisions of ASU No. 2013-04 are effective for us on January 1, 2014, and are required to be applied retrospectively. We do not expect the adoption of this update to have a material impact on our consolidated financial statements.

In July 2013, the FASB issued ASU No. 2013-11, "Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists." This ASU amends current GAAP to require entities to present an unrecognized tax benefit, or a portion of an unrecognized tax benefit, as a reduction to a deferred tax asset for net operating loss or other tax credit carryforwards when settlement is available under the tax law. The provisions of ASU 2013-11 are effective for us on January 1, 2014, and are required to be applied to all unrecognized tax benefits in existence. Retrospective application may be applied to prior reporting periods presented. We do not expect the adoption of this update to have a material impact on our consolidated financial statements.

Note 3. Property

Our property consists of the following (in thousands):

	September 30, 2013		December 31, 2012
Land	$	878,652	$	881,156
Land held for development	118,334		121,294
Land under development	4,222		6,155
Buildings and improvements	3,235,883		3,325,793
Construction in-progress	71,758		65,452
Total	$	4,308,849	$	4,399,850

During the nine months ended September 30, 2013, we acquired two centers for approximately $73.1 million.

During the nine months ended September 30, 2013, we sold 18 centers and other property. Aggregate gross sales proceeds from these transactions approximated $219.0 million and generated gains of $116.8 million. See Note 20 for subsequent events.

9

Note 4. Investment in Real Estate Joint Ventures and Partnerships

We own interests in real estate joint ventures or limited partnerships and have tenancy-in-common interests in which we exercise significant influence, but do not have financial and operating control. We account for these investments using the equity method, and our interests range from 20% to 75% for the 2013 periods presented and 10% to 75% for the 2012 periods presented. Combined condensed financial information of these ventures (at 100%) is summarized as follows (in thousands):

	September 30, 2013			December 31, 2012
Combined Condensed Balance Sheets
ASSETS
Property	$	1,507,115		$	1,631,694
Accumulated depreciation	(284,101		)	(273,591		)
Property, net	1,223,014			1,358,103
Other assets, net	159,105			161,344
Total	$	1,382,119		$	1,519,447
LIABILITIES AND SHAREHOLDERS' EQUITY
Debt, net (primarily mortgages payable)	$	467,908		$	468,841
Amounts payable to Weingarten Realty Investors and Affiliates	102,390			109,931
Other liabilities, net	35,083			34,157
Total	605,381			612,929
Accumulated equity	776,738			906,518
Total	$	1,382,119		$	1,519,447

	Three Months Ended September 30,				Nine Months Ended September 30,
	2013		2012		2013		2012
Combined Condensed Statements of Operations
Revenues, net	$	40,804	$	49,726	$	124,064	$	149,599
Expenses:
Depreciation and amortization	11,343		15,071		34,922		46,688
Interest, net	7,131		8,956		22,091		27,003
Operating	7,298		9,069		20,859		26,265
Real estate taxes, net	4,739		6,322		14,335		18,719
General and administrative	187		420		637		1,006
Provision for income taxes	63		81		211		249
Impairment loss	59		283		1,887		96,781
Total	30,820		40,202		94,942		216,711
Operating income (loss)	$	9,984	$	9,524	$	29,122	$	(67,112	)

10

Our investment in real estate joint ventures and partnerships, as reported in our Condensed Consolidated Balance Sheets, differs from our proportionate share of the entities' underlying net assets due to basis differences, which arose upon the transfer of assets to the joint ventures. The net positive basis differences, which totaled $5.9 million and $1.6 million at September 30, 2013 and December 31, 2012, respectively, are generally amortized over the useful lives of the related assets.

Our real estate joint ventures and partnerships have determined that the carrying amount of certain properties was not recoverable and that the properties should be written down to fair value. For the threeand nine months ended September 30, 2013, our unconsolidated real estate joint ventures and partnerships recorded an impairment charge of $.1 millionand $1.9 million, respectively, on various properties that have been marketed and sold during the period. There was $.3 million and $96.8 million of impairment recorded for the three and nine months ended September 30, 2012, respectively.

Fees earned by us for the management of these real estate joint ventures and partnerships totaled $1.2 million and $1.5 million for the three months ended September 30, 2013 and 2012, respectively, and $3.8 million and $4.8 million for the nine months ended September 30, 2013 and 2012, respectively.

During 2013, the final two industrial properties in an unconsolidated joint venture were sold. This joint venture was liquidated resulting in an $11.5 million gain on our investment. Also, two shopping centers were sold, and the gross sales proceeds from the disposition of these four properties totaled $11.7 million. Furthermore, we sold our 10% interest in two unconsolidated tenancy-in-common arrangements for approximately $8.9 million that we previously accounted for under the equity method. See Note 20 for subsequent events.

During 2013, we acquired a 51% unconsolidated real estate joint venture interest in a shopping center for approximately $16.5 million.

In August 2012, we acquired a partner's 79.6% interest in an unconsolidated tenancy-in-common arrangement for approximately $29.6 million that we had previously accounted for under the equity method and included the assumption of debt of $24.5 million. This transaction resulted in the consolidation of the property in our consolidated financial statements.

During 2012, our interest in 19 industrial properties held in unconsolidated joint ventures, in which we are a partner, were sold through either a direct sale by the joint venture or the sale of our interest. Gross sales proceeds, including the assumption of debt, from these transactions totaled $210.4 million.

In February 2012, we sold a 47.8% unconsolidated joint venture interest in a Colorado development project to our partner with gross sales proceeds totaling $29.1 million, which includes the assumption of our share of debt.

Note 5. Notes Receivable from Real Estate Joint Ventures and Partnerships

We have ownership interests in a number of real estate joint ventures and partnerships. Notes receivable from these entities bear interest ranging from approximately 2.9% to 10.0% at September 30, 2013 and 2.9% to 16.0% at December 31, 2012. These notes are due at various dates through 2017 and are generally secured by underlying real estate assets.

We believe these notes are fully collectible, and no allowance has been recorded. Interest income recognized on these notes was $.5 million and $.8 million for the three months ended September 30, 2013 and 2012, respectively, and $1.8 million and $2.2 million for the nine months ended September 30, 2013 and 2012, respectively.

In November 2012, a $16.1 million note matured and negotiations for repayment were entered into. Subsequent to September 30, 2013, the note was paid. See Note 20 for additional information.

In February 2012, we received $59.2 million in payment of our notes receivable from real estate joint ventures and partnerships, in conjunction with the sale of our 47.8% interest in an unconsolidated real estate joint venture. See Note 15 for additional information.

11

Note 6. Debt

Our debt consists of the following (in thousands):

	September 30, 2013		December 31, 2012
Debt payable to 2038 at 2.6% to 8.6% in 2013 and 2.6% to 8.8% in 2012	$	2,083,363	$	2,041,709
Unsecured notes payable under credit facilities	114,500		66,000
Debt service guaranty liability	74,075		74,075
Obligations under capital leases	21,000		21,000
Industrial revenue bonds payable to 2015 at 2.4%	960		1,246
Total	$	2,293,898	$	2,204,030

The grouping of total debt between fixed and variable-rate as well as between secured and unsecured is summarized below (in thousands):

	September 30, 2013		December 31, 2012
As to interest rate (including the effects of interest rate contracts):
Fixed-rate debt	$	2,013,253	$	1,992,599
Variable-rate debt	280,645		211,431
Total	$	2,293,898	$	2,204,030
As to collateralization:
Unsecured debt	$	1,499,297	$	1,270,742
Secured debt	794,601		933,288
Total	$	2,293,898	$	2,204,030

We maintain a $500 million unsecured revolving credit facility, which was last amended on April 18, 2013. This facility expires in April 2017, provides for two consecutive six-month extensions upon our request and borrowing rates that float at a margin over LIBOR plus a facility fee. At September 30, 2013, the borrowing margin and facility fee, which are priced off a grid that is tied to our senior unsecured credit ratings, are 115 and 20 basis points, respectively. The facility also contains a competitive bid feature that will allow us to request bids for up to $250 million. Additionally, an accordion feature allows us to increase the facility amount up to $700 million.

Effective May 2010, we entered into an agreement with a bank for an unsecured and uncommitted overnight facility totaling $99 million that we maintain for cash management purposes. The facility provides for fixed interest rate loans at a 30-day LIBOR rate plus a borrowing margin based on market liquidity.

12

The following table discloses certain information regarding our unsecured notes payable under our credit facilities (in thousands, except percentages):

	September 30, 2013			December 31, 2012
Unsecured revolving credit facility:
Balance outstanding	$	100,000		$	30,000
Available balance	397,821			467,571
Letter of credit outstanding under facility	2,179			2,429
Variable interest rate (excluding facility fee)	0.9		%	1.1		%
Unsecured and uncommitted overnight facility:
Balance outstanding	$	14,500		$	36,000
Variable interest rate	1.5		%	1.5		%
Both facilities:
Maximum balance outstanding during the period	$	265,500		$	303,100
Weighted average balance	79,060			157,447
Year-to-date weighted average interest rate (excluding facility fee)	1.1		%	1.3		%

Related to a development project in Sheridan, Colorado, we have provided a guaranty for the payment of any debt service shortfalls until a coverage rate of 1.4x is met on tax increment revenue bonds issued in connection with the project. The bonds are to be repaid with incremental sales and property taxes and a public improvement fee (“PIF”) to be assessed on current and future retail sales and, to the extent necessary, any amounts we may have to provide under a guaranty. The incremental taxes and PIF are to remain intact until the earlier of the date the bond liability has been paid in full or 2040, as extended by the Sheridan Redevelopment Agency (“Agency”) in April 2011. Therefore, a debt service guaranty liability equal to the fair value of the amounts funded under the bonds was recorded. For both periods ended at September 30, 2013 and December 31, 2012, we had $74.1 million outstanding for the debt service guaranty liability.

On March 22, 2013, we issued $300 million of 3.5% senior unsecured notes maturing in 2023. The notes were issued at 99.53% of the principal amount with a yield to maturity of 3.56%. The net proceeds received of $296.6 million were used to reduce amounts outstanding under our $500 million unsecured revolving credit facility, which included borrowings used to redeem $75 million of our 6.75% Series D Cumulative Redeemable Preferred Shares. In addition, $113.6 million of fixed-rate medium term notes matured during 2013 at a weighted average interest rate of 5.6%. See Note 20 for subsequent events.

Various leases and properties, and current and future rentals from those leases and properties, collateralize certain debt. At September 30, 2013 and December 31, 2012, the carrying value of such assets aggregated $1.3 billion and $1.5 billion, respectively.

13

Scheduled principal payments on our debt (excluding $114.5 million due under our credit facilities, $21.0 million of certain capital leases, $6.3 million fair value of interest rate contracts, $(2.4) million net premium/(discount) on debt, $2.4 million of non-cash debt-related items, and $74.1 million debt service guaranty liability) are due during the following years (in thousands):

2013 remaining	$	65,727
2014	468,858
2015	275,998
2016	249,283
2017	141,864
2018	64,157
2019 (1)	153,380
2020	3,342
2021	2,278
2022	304,815
Thereafter	348,264
Total	$	2,077,966

_______________

(1) Includes $100 million of our 8.1% senior unsecured notes due 2019 which may be redeemed by us at any time on or after September 2014 at our option.

Our various debt agreements contain restrictive covenants, including minimum interest and fixed charge coverage ratios, minimum unencumbered interest coverage ratios, minimum net worth requirements and maximum total debt levels. We believe we were in compliance with our public debt and revolving credit facility covenants as of September 30, 2013.

Note 7. Derivatives and Hedging

The fair value of all our interest rate contracts is reported as follows (in thousands):

	Assets			Liabilities
	Balance Sheet Location	Amount		Balance Sheet Location	Amount
Designated Hedges:
September 30, 2013	Other Assets, net	$	12,844	Other Liabilities, net	$	537
December 31, 2012	Other Assets, net	9,926		Other Liabilities, net	768

14

The gross presentation, the effects of offsetting under master netting agreements and the net presentation of our interest rate contracts is as follows (in thousands):

							Gross Amounts Not Offset in Balance Sheet
	Gross Amounts Recognized		Gross Amounts Offset in Balance Sheet		Net Amounts Presented in Balance Sheet		Financial Instruments		Cash Collateral Received		Net Amount
September 30, 2013
Assets	$	12,844	$	—	$	12,844	$	—	$	—	$	12,844
Liabilities	537		—		537		—		—		537
December 31, 2012
Assets	9,926		—		9,926		—		—		9,926
Liabilities	768		—		768		—		—		768

Cash Flow Hedges:

As of September 30, 2013 and December 31, 2012, we had three active interest rate contracts designated as cash flow hedges with an aggregate notional amount of $26.0 million and $26.5 million, respectively. These contracts have maturities through September 2017 and either fix or cap interest rates ranging from 2.3% to 5.0%. We have determined that these contracts are highly effective in offsetting future variable interest cash flows.

Also, at September 30, 2013, we had three forward-starting contracts with an aggregate notional amount of $150.0 million hedging future fixed-rate debt issuances. These contracts are effective in January 2014, mature in January 2024 and fix the 10-year swap rates at 2.4%. Subsequent to September 30, 2013, we settled these forward-starting contracts. See Note 20 for additional information.

As of September 30, 2013 and December 31, 2012, the balance in accumulated other comprehensive gain (loss) relating to cash flow interest rate contracts was $1.0 million and $(7.5) million, respectively, and will be reclassified to net interest expense as interest payments are made on our fixed-rate debt. Within the next 12 months, a loss of approximately $2.0 million in accumulated other comprehensive loss is expected to be amortized to net interest expense related to settled interest rate contracts.

A summary of cash flow interest rate contract hedging activity is as follows (in thousands):

Derivatives Hedging Relationships	Amount of (Gain) Loss  Recognized in Other Comprehensive Income on Derivative  (Effective Portion)			Location of Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Income	Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Income (Effective Portion)			Location of Gain (Loss) Recognized in Income on Derivative (Ineffective Portion and Amount  Excluded from Effectiveness Testing)	Amount of Gain (Loss) Recognized in Income on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing)
Three Months Ended September 30, 2013	$	293		Interest expense, net	$	(669	)	Interest expense, net	$	189
Nine Months Ended September 30, 2013	(6,735		)	Interest expense, net	(1,991		)	Interest expense, net	189
Three Months Ended September 30, 2012	49			Interest expense, net	(664		)	Interest expense, net	—
Nine Months Ended September 30, 2012	181			Interest expense, net	(1,985		)	Interest expense, net	—

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Fair Value Hedges:

As of September 30, 2013 and December 31, 2012, we had four interest rate contracts, maturing through October 2017, with an aggregate notional amount of $117.1 million and $118.1 million, respectively, that were designated as fair value hedges and convert fixed interest payments at rates from 4.2% to 7.5% to variable interest payments ranging from .3% to 4.3%. We have determined that our fair value hedges are highly effective in limiting our risk of changes in the fair value of fixed-rate notes attributable to changes in interest rates.

A summary of the impact on net income for our interest rate contracts is as follows (in thousands):

	Gain (Loss)  on Contracts			Gain (Loss)  on Borrowings			Net Settlements and Accruals on Contracts		Amount of Gain  (Loss) Recognized in Income (1)
Three Months Ended September 30, 2013
Interest expense, net	$	(482	)	$	482		$	1,015	$	1,015
Nine Months Ended September 30, 2013
Interest expense, net	(3,586		)	3,586			3,065		3,065
Three Months Ended September 30, 2012
Interest expense, net	3			(3		)	1,001		1,001
Nine Months Ended September 30, 2012
Interest expense, net	64			(64		)	3,001		3,001

_______________

(1) No ineffectiveness was recognized during the respective period.

Note 8. Preferred Shares of Beneficial Interest

We issued $150 million and $200 million of depositary shares on June 6, 2008 and January 30, 2007, respectively. Each depositary share represents one-hundredth of a Series F Cumulative Redeemable Preferred Share. The depositary shares are redeemable at our option, in whole or in part, for cash at a redemption price of $25 per depositary share, plus any accrued and unpaid dividends thereon. The depositary shares are not convertible or exchangeable for any of our other property or securities. The Series F Preferred Shares pay a 6.5% annual dividend and have a liquidation value of $2,500 per share. The Series F Preferred Shares issued in June 2008 were issued at a discount, resulting in an effective rate of 8.25%.

We exercised our option to redeem a portion of the Series F depositary shares totaling $200 million on June 5, 2013. Upon the redemption of these shares, a portion of the related original issuance costs totaling $15.7 million was reported as a deduction in arriving at net income attributable to common shareholders. The outstanding $150 million Series F Preferred Shares pay a 6.5% annual dividend and have a liquidation value of $2,500 per share. Of these outstanding shares, $64.3 million were issued at a discount and have an effective rate of 8.25%.

In April 2003, we issued $75 million of depositary shares with each share representing one-thirtieth of a Series D Cumulative Redeemable Preferred Share. The depositary shares were redeemed on March 18, 2013, at our option, for cash at a redemption price of $25 per depositary share or $75 million, plus accrued and unpaid dividends thereon. Upon the redemption of these shares, the related original issuance costs of $2.2 million were reported as a deduction in arriving at net income attributable to common shareholders. The Series D Preferred Shares paid a 6.75% annual dividend, had a liquidation value of $750 per share and were not convertible or exchangeable for any of our property or securities.

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Note 9. Impairment

The following impairment charges were recorded on the following assets based on the difference between the carrying amount of the assets and the estimated fair value (see Note 19 for additional fair value information) (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2013		2012		2013		2012
Continuing operations:
Land held for development and undeveloped land (1)	$	2,358	$	—	$	2,358	$	—
Property marketed for sale or sold (2)	—		197		56		2,977
Investments in real estate joint ventures and partnerships (3)	—		—		—		6,608
Other	—		—		165		—
Total reported in continuing operations	2,358		197		2,579		9,585
Discontinued operations:
Property held for sale or sold (4)	—		139		236		5,825
Total impairment charges	2,358		336		2,815		15,410
Other financial statement caption impacted by impairment:
Equity in earnings of real estate joint ventures and partnerships, net	29		57		395		19,946
Net impact of impairment charges	$	2,387	$	393	$	3,210	$	35,356

_______________

(1) Impairment was prompted by changes in management's plans for these properties, recent comparable market transactions and/or a change in market conditions.

(2) These charges resulted from changes in management’s plans for these properties, primarily the marketing of these properties for sale. Also included in this caption are impairments associated with dispositions that did not qualify to be reported in discontinued operations.

(3) Amounts reported in 2012 were based on third party offers to buy our interests in industrial real estate joint ventures.

(4) Amounts reported were based on third party offers.

Note 10. Discontinued Operations

For the nine months ended September 30, 2013, we sold 18 centers of which eight were located in Texas, three in North Carolina, two each in Florida and New Mexico and one each in California, Nevada and Tennessee. As of September 30, 2013, there were no properties classified as held for sale as the potential disposition of assets currently being marketed was not deemed probable.

During 2012, we sold 27 shopping centers, 54 industrial properties, and we assigned a 75% consolidated joint venture interest to our partner. Of these dispositions, 55 were located in Texas, six each in Florida and Georgia, three in North Carolina, two each in Colorado, Louisiana and Virginia and one each in Arizona, Illinois, Kansas, Maine, Oklahoma and Tennessee. As part of these 2012 dispositions, we sold, in May 2012, a portfolio of 52 wholly-owned industrial properties in order to exit the industrial real estate market and further align and strengthen our position solely as a retail REIT. As of December 31, 2012, no properties were classified as held for sale.

Included in the Condensed Consolidated Balance Sheet at December 31, 2012 was $207.5 million of property and $72.0 million of accumulated depreciation related to the 18 centers that were sold during 2013.

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The operating results of these centers have been reclassified and reported as discontinued operations in the Condensed Consolidated Statements of Operations and Comprehensive Income as follows (in thousands):

	Three Months Ended September 30,						Nine Months Ended September 30,
	2013			2012			2013			2012
Revenues, net	$	2,043		$	12,141		$	15,795		$	58,299
Depreciation and amortization	(487		)	(2,350		)	(3,869		)	(12,455		)
Operating expenses	(427		)	(2,175		)	(2,973		)	(10,932		)
Real estate taxes, net	(152		)	(1,413		)	(1,414		)	(7,545		)
Impairment loss	—			(139		)	(236		)	(5,825		)
General and administrative	(1		)	(220		)	(13		)	(2,181		)
Interest, net	(434		)	(759		)	(1,373		)	(2,512		)
Provision for income taxes	(148		)	(11		)	(261		)	(386		)
Operating income from discontinued operations	394			5,074			5,656			16,463
Gain on sale of property from discontinued operations	38,214			14,826			116,226			49,724
Income from discontinued operations	$	38,608		$	19,900		$	121,882		$	66,187

We do not allocate other consolidated interest to discontinued operations because the interest savings to be realized from the proceeds of the sale of these operations is not material.

Note 11. Supplemental Cash Flow Information

Non-cash investing and financing activities are summarized as follows (in thousands):

	Nine Months Ended September 30,
	2013			2012
Accrued property construction costs	$	9,662		$	7,454
Property acquisitions and investments in unconsolidated real estate joint ventures:
Increase in property, net	18,698			16,665
Decrease in notes receivable from real estate joint ventures and partnerships	(3,636		)	—
Decrease in real estate joint ventures and partnerships - investments	(50		)	(3,825		)
Increase in restricted deposits and mortgage escrows	—			395
Increase in debt, net	21,396			40,644
Increase in security deposits	129			1,332
Increase in noncontrolling interests	—			968
Sale of property and property interest:
Decrease in property, net	—			(2,855		)
Decrease in real estate joint ventures and partnerships - investments	—			(95		)
Decrease in restricted deposits and mortgage escrows	—			(204		)
Decrease in debt, net due to debt assumption	—			(3,366		)
Decrease in security deposits	—			(11		)
Decrease in noncontrolling interests	—			(95		)

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Note 12. Earnings Per Share

Earnings per common share – basic is computed using net income attributable to common shareholders and the weighted average number of shares outstanding – basic. Earnings per common share – diluted includes the effect of potentially dilutive securities. Income from continuing operations attributable to common shareholders includes gain on sale of property in accordance with Securities and Exchange Commission guidelines. The components of earnings per common share – basic and diluted for the prior periods have been recast to conform with discontinued operations. Earnings per common share – basic and diluted components for the periods indicated are as follows (in thousands):

	Three Months Ended September 30,						Nine Months Ended September 30,
	2013			2012			2013			2012
Numerator:
Continuing Operations:
Income from continuing operations	$	23,618		$	21,812		$	88,932		$	30,400
Gain on sale of property	163			335			570			859
Net income attributable to noncontrolling interests	(1,948		)	(1,505		)	(4,000		)	(3,726		)
Dividends on preferred shares	(2,710		)	(8,869		)	(15,463		)	(26,607		)
Redemption costs of preferred shares	—			—			(17,944		)	—
Income from continuing operations attributable to common shareholders – basic and diluted	$	19,123		$	11,773		$	52,095		$	926
Discontinued Operations:
Income from discontinued operations	$	38,608		$	19,900		$	121,882		$	66,187
Net loss (income) attributable to noncontrolling interests	101			(269		)	(37,056		)	(831		)
Income from discontinued operations attributable to common shareholders – basic and diluted	$	38,709		$	19,631		$	84,826		$	65,356
Denominator:
Weighted average shares outstanding - basic	121,359			120,766			121,235			120,637
Effect of dilutive securities:
Share options and awards	1,172			1,078			1,206			1,016
Weighted average shares outstanding - diluted	122,531			121,844			122,441			121,653

Anti-dilutive securities of our common shares, which are excluded from the calculation of earnings per common share – diluted, are as follows (in thousands):

	Three Months Ended September 30,		Nine Months Ended September 30,
	2013	2012	2013	2012
Share options (1)	1,929	2,359	1,929	2,359
Operating partnership units	1,555	1,582	1,555	1,583
Total anti-dilutive securities	3,484	3,941	3,484	3,942

_______________

(1) Exclusion results as exercise prices were greater than the average market price for each respective period.

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Note 13. Share Options and Awards

During 2013, we granted restricted share awards incorporating both service-based and market-based measures to promote share ownership among the participants and to emphasize the importance of total shareholder return ("TSR"). The terms of each grant vary depending upon the participant's responsibilities and position within the Company. We categorize these share awards as either service-based share awards or market-based share awards. All awards were valued at the fair market value on the date of grant and earn dividends throughout the vesting period. Compensation expense is measured at the grant date and recognized over the vesting period. All share awards are awarded subject to the participant’s continued employment with us.

The fair value of the market-based share awards was estimated on the date of grant using a Monte Carlo valuation model based on the following assumptions:

	Nine Months Ended September 30, 2013
	Minimum		Maximum
Dividend yield	0.0	%	3.9	%
Expected volatility	13.2	%	29.0	%
Expected life (in years)	NA		3
Risk-free interest rate	0.1	%	0.4	%

A summary of the status of unvested restricted share awards for the nine months ended September 30, 2013 is as follows:

	Unvested Restricted Share Awards		Weighted Average  Grant Date Fair  Value
Outstanding, January 1, 2013	496,571		$	23.10
Granted:
Service-based awards	102,456		29.71
Market-based awards relative to FTSE NAREIT U.S. Shopping Center Index	44,580		31.83
Market-based awards relative to three-year absolute TSR	44,580		37.49
Trust manager awards	25,623		35.23
Vested	(130,136	)	23.19
Forfeited	(6,904	)	26.65
Outstanding, September 30, 2013	576,770		$	26.54

As of September 30, 2013 and December 31, 2012, there was approximately $4.7 millionof total unrecognized compensation cost related to unvested restricted shares for both periods, which is expected to be amortized over a weighted average of 1.7 and 1.9 years, respectively.

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Note 14. Employee Benefit Plans

Defined Benefit Plans:

We sponsor a noncontributory qualified retirement plan. The components of net periodic benefit cost for this plan are as follows (in thousands):

	Three Months Ended September 30,						Nine Months Ended September 30,
	2013			2012			2013			2012
Service cost	$	285		$	266		$	993		$	1,048
Interest cost	344			319			1,197			1,257
Expected return on plan assets	(545		)	(453		)	(1,898		)	(1,787		)
Prior service cost	—			(24		)	—			(94		)
Recognized loss	284			317			990			1,251
Total	$	368		$	425		$	1,282		$	1,675

For the nine months ended September 30, 2013 and 2012, we contributed $1.8 million and $2.5 million, respectively, to the qualified retirement plan. Currently, we do not anticipate making any additional contributions to this plan during 2013.

Defined Contribution Plans:

Compensation expense related to our defined contribution plans was $.8 million and $.6 million for three months ended September 30, 2013 and 2012, respectively. For the nine months ended September 30, 2013 and 2012, we recognized compensation expense of $2.5 million and $2.4 million, respectively.

Note 15. Related Parties

Through our management activities and transactions with our real estate joint ventures and partnerships, we had net accounts receivable of $2.2 million and $1.8 million outstanding as of September 30, 2013 and December 31, 2012, respectively. We also had accounts payable and accrued expenses of $5.7 million and $6.3 million outstanding as of September 30, 2013 and December 31, 2012, respectively. For the three months ended September 30, 2013 and 2012, we recorded joint venture fee income of $1.2 million and $1.5 million, respectively. For the nine months ended September 30, 2013 and 2012, we recorded joint venture fee income of $3.8 million and $4.8 million, respectively.

In 2013, we sold our 10% interest in two unconsolidated tenancy-in-common arrangements to our partner for approximately $8.9 million.

In February 2012, we sold our 47.8% unconsolidated joint venture interest in a Colorado development project to our partner with gross sales proceeds totaling $29.1 million, which includes the assumption of our share of debt, generating a gain of $3.5 million.

In November 2012, we sold three unconsolidated joint venture interests, ranging from 20% to 50%, in nine industrial properties to our partner with gross sales proceeds totaling $20.9 million, which includes the assumption of our share of debt, generating a gain of $8.6 million.

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Note 16. Commitments and Contingencies

As of September 30, 2013, we participate in four real estate ventures structured as DownREIT partnerships that have properties in Arkansas, California, North Carolina, Texas and Utah. As a general partner, we have operating and financial control over these ventures and consolidate them in our consolidated financial statements. These ventures allow the outside limited partners to put their interest in the partnership to us in exchange for our common shares or an equivalent amount in cash. We may acquire any limited partnership interests that are put to the partnership, and we have the option to redeem the interest in cash or a fixed number of our common shares, at our discretion. We also participate in a real estate venture that has a property in Texas that allows its outside partner to put operating partnership units to us. We have the option to redeem these units in cash or a fixed number of our common shares, at our discretion. No common shares were issued in exchange for any of these interests during the nine months ended September 30, 2013 and 2012. The aggregate redemption value of these interests was approximately $46 million and $42 million as of September 30, 2013 and December 31, 2012, respectively.

We are subject to numerous federal, state and local environmental laws, ordinances and regulations in the areas where we own or operate properties. We are not aware of any contamination which may have been caused by us or any of our tenants that would have a material effect on our consolidated financial statements.

As part of our risk management activities, we have applied and been accepted into state sponsored environmental programs which will limit our expenses if contaminants need to be remediated. We also have an environmental insurance policy that covers us against third party liabilities and remediation costs.

While we believe that we do not have any material exposure to environmental remediation costs, we cannot give absolute assurance that changes in the law or new discoveries of contamination will not result in additional liabilities to us.

During 2011, we filed a lawsuit against our joint venture partner in connection with a development project in Sheridan, Colorado for failure to perform on the joint venture’s past due intercompany note payable to us, which has been eliminated within our consolidated financial statements. We are also involved in one consolidated and two unconsolidated joint ventures with this partner. Subsequent to September 30, 2013, we completed negotiations with our partner and settled the lawsuit. See Note 20 for additional information.

As of September 30, 2013, we have entered into commitments aggregating $73.3 million comprised principally of construction contracts which are generally due in 12 to 36 months.

We are also involved in various matters of litigation arising in the normal course of business. While we are unable to predict the amounts involved, our management and counsel are of the opinion that, when such litigation is resolved, any additional liability, if any, will not have a material effect on our consolidated financial statements.

Note 17. Variable Interest Entities

Consolidated VIEs:

Two of our real estate joint ventures whose activities principally consist of owning and operating 28 neighborhood/community shopping centers in 2013 and 30 shopping centers in 2012, located in Florida, Georgia, North Carolina, Tennessee and Texas, were determined to be VIEs. Based on financing agreements that are guaranteed solely by us, we have determined that we are the primary beneficiary in both instances and have consolidated these joint ventures.

A summary of our consolidated VIEs is as follows (in thousands):

	September 30, 2013		December 31, 2012
Maximum Risk of Loss (1)	$	88,000	$	111,305
Assets held by VIEs	236,211		257,374
Assets held as collateral for debt	229,644		246,486

_______________

(1) The maximum risk of loss has been determined to be limited to our debt exposure for each real estate joint venture.

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Restrictions on the use of these assets are significant because they serve as collateral for the VIEs’ debt, and we would generally be required to obtain our partners’ approval in accordance with the joint venture agreements for any major transactions. Transactions with these joint ventures on our consolidated financial statements have been limited to changes in noncontrolling interests and reductions in debt from our partners’ contributions. We and our partners are subject to the provisions of the joint venture agreements which include provisions for when additional contributions may be required to fund operating cash shortfalls and unplanned capital expenditures.

Unconsolidated VIEs:

At September 30, 2013 and December 31, 2012, one and two unconsolidated real estate joint ventures, respectively, were determined to be a VIEs through the issuance of secured loans, since the lenders had the ability to make decisions that could have a significant impact on the success of the entities. A summary of our unconsolidated VIEs is as follows (in thousands):

	September 30, 2013		December 31, 2012
Investment in Real Estate Joint Ventures and Partnerships, net (1)	$	11,502	$	29,628
Maximum Risk of Loss (2)	11,679		32,990

_______________

(1) The carrying amount of the investments represents our contributions to the real estate joint ventures, net of any distributions made and our portion of the equity in earnings of the joint ventures.

(2) The maximum risk of loss has been determined to be limited to our debt exposure for each real estate joint venture. The maximum risk of loss at December 31, 2012, includes $20.9 million of debt recorded in our Condensed Consolidated Balance Sheet due to its association with a tenancy-in-common arrangement.

We and our partners are subject to the provisions of the joint venture agreements that specify conditions, including operating shortfalls and unplanned capital expenditures, under which additional contributions may be required.

Note 18. Business Combinations

During 2012, we acquired four shopping centers located in California, Georgia, Maryland and Texas, and we consolidated a partner's 79.6% interest in an unconsolidated tenancy-in-common arrangement related to a property in Louisiana. The following table summarizes the transactions related to these acquisitions, including the assets acquired and liabilities assumed as indicated (in thousands):

	December 31, 2012
Fair value of our equity interest before acquisition	$	3,825
Fair value of consideration transferred	218,481			(1)
Amounts recognized for assets and liabilities assumed:
Assets:
Property	$	195,377
Unamortized debt and lease costs	36,787
Restricted deposits and mortgage escrows	395
Other, net	3,742
Liabilities:
Debt, net	(46,923		)	(2)
Accounts payable and accrued expenses	(2,250		)
Other, net	(5,899		)
Total net assets	$	181,229
Acquisition costs (included in operating expenses)	$	1,391
Gain on acquisition	1,869

_______________

(1) Includes assumption of debt totaling $37.8 million.

(2) Represents the fair value of debt, which includes $6.3 million that was previously recorded.

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The following table summarizes the pro forma impact of these transactions as if they had been consolidated or acquired on January 1, 2012, the earliest year presented, as follows (in thousands, except per share amounts):

	Pro Forma (1)
	Three Months Ended September 30, 2012		Nine Months Ended September 30, 2012
Revenues	$	123,544	$	360,501
Net income	42,041		97,052
Net income attributable to common shareholders	31,398		65,888
Earnings per share – basic	0.26		0.55
Earnings per share – diluted	0.26		0.54

_______________

(1) There are no non-recurring pro forma adjustments included within or excluded from the amounts in the preceding table.

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Note 19. Fair Value Measurements

Recurring Fair Value Measurements:

Assets and liabilities measured at fair value on a recurring basis as of September 30, 2013 and December 31, 2012, aggregated by the level in the fair value hierarchy in which those measurements fall, are as follows (in thousands):

	Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Fair Value at September 30, 2013
Assets:
Investments, grantor trusts	$	17,757					$	17,757
Investments, mutual funds	7,034						7,034
Derivative instruments:
Interest rate contracts			$	12,844			12,844
Total	$	24,791	$	12,844	$	—	$	37,635
Liabilities:
Derivative instruments:
Interest rate contracts			$	537			$	537
Deferred compensation plan obligations	$	17,757					17,757
Total	$	17,757	$	537	$	—	$	18,294
	Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Fair Value at December 31, 2012
Assets:
Investments, grantor trusts	$	16,030					$	16,030
Derivative instruments:
Interest rate contracts			$	9,926			9,926
Total	$	16,030	$	9,926	$	—	$	25,956
Liabilities:
Derivative instruments:
Interest rate contracts			$	768			$	768
Deferred compensation plan obligations	$	16,030					16,030
Total	$	16,030	$	768	$	—	$	16,798

Nonrecurring Fair Value Measurements:

Property Impairments

Property is reviewed for impairment if events or changes in circumstances indicate that the carrying amount of the property, including any identifiable intangible assets, site costs and capitalized interest, may not be recoverable. In such an event, a comparison is made of the current and projected operating cash flows of each such property into the foreseeable future on an undiscounted basis to the carrying amount of such property. If we conclude that an impairment may have occurred, estimated fair values are determined by management utilizing cash flow models, market capitalization rates and market discount rates, or by obtaining third-party broker valuation estimates, appraisals, bona fide purchase offers or the expected sales price of an executed sales agreement in accordance with our fair value measurements accounting policy. Market capitalization rates and market discount rates are determined by reviewing current sales of similar properties and transactions, and utilizing management’s knowledge and expertise in property marketing.

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Investments in Real Estate Joint Ventures and Partnerships Impairments

The fair value of our investment in partially owned real estate joint ventures and partnerships is estimated by management based on a number of factors, including the performance of each investment, the life and other terms of the investment, holding periods, market conditions, cash flow models, market capitalization rates and market discount rates, or by obtaining third-party broker valuation estimates, appraisals and bona fide purchase offers in accordance with our fair value measurements accounting policy. Market capitalization rates and market discount rates are determined by reviewing current sales of similar properties and transactions, and utilizing management’s knowledge and expertise in property marketing. We recognize an impairment loss if we determine the fair value of an investment is less than its carrying amount and that loss in value is other than temporary.

Assets measured at fair value on a nonrecurring basis at September 30, 2013, aggregated by the level in the fair value hierarchy in which those measurements fall, are as follows (in thousands):

	Quoted Prices  in Active  Markets for Identical  Assets and Liabilities (Level 1)		Significant  Other Observable  Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Fair Value		Total Gains (Losses) (1)
Property (2)			$	3,300	$	8,576	$	11,876	$	(2,358	)
Total	$	—	$	3,300	$	8,576	$	11,876	$	(2,358	)

_______________

(1) Total gains (losses) exclude impairments on disposed assets because they are no longer held by us.

(2) In accordance with our policy of evaluating and recording impairments on the disposal of long-lived assets, property with a carrying amount of $14.3 million was written down to a fair value of $11.9 million, resulting in a loss of $2.4 million, which was included in earnings for the period. Management’s estimate of the fair value of these properties was determined using bona fide purchase offer for the Level 2 inputs. See the quantitative information about the significant unobservable inputs used for our Level 3 fair value measurements table below.

Assets measured at fair value on a nonrecurring basis at December 31, 2012, aggregated by the level in the fair value hierarchy in which those measurements fall, are as follows (in thousands):

	Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Fair Value		Total Gains (Losses) (1)
Property (2)			$	5,773	$	13,906	$	19,679	$	(2,971	)
Investment in real estate joint ventures and partnerships (3)			24,231				24,231		(6,608		)
Total	$	—	$	30,004	$	13,906	$	43,910	$	(9,579	)

_______________

(1) Total gains (losses) are reflected throughout 2012 and exclude impairments on disposed assets because they are no longer held by us.

(2) In accordance with our policy of evaluating and recording impairments on the disposal of long-lived assets, property with a carrying amount of $22.4 million was written down to a fair value of $19.7 million less costs to sell of $.3 million, resulting in a loss of $3.0 million, which was included in earnings for the period. Management’s estimate of fair value of these properties was determined using a bona fide purchase offer for the Level 2 inputs. See the quantitative information about the significant unobservable inputs used for our Level 3 fair value measurements table below.

(3) Our net investment in real estate joint ventures and partnerships with a carrying amount of $30.8 million was written down to a fair value of $24.2 million, resulting in a loss of $6.6 million, which was included in earnings for the period. Management’s estimate of fair value of this investment was determined using the weighted average of the bona fide purchase offers received for the Level 2 inputs.

Fair Value Disclosures:

Unless otherwise described below, short-term financial instruments and receivables are carried at amounts which approximate their fair values based on their highly-liquid nature, short-term maturities and/or expected interest rates for similar instruments.

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Schedule of our fair value disclosures is as follows (in thousands):

	September 30, 2013				December 31, 2012
	Carrying Value		Fair Value Using Significant Unobservable Inputs (Level 3)		Carrying Value		Fair Value Using Significant Unobservable Inputs (Level 3)
Notes receivable from real estate joint ventures and partnerships	$	84,142	$	85,897	$	89,776	$	93,572
Tax increment revenue bonds	25,850		25,850		26,505		26,505
Debt:
Fixed-rate debt	2,013,253		2,055,495		1,992,599		2,094,122
Variable-rate debt	280,645		289,560		211,431		223,759

The quantitative information about the significant unobservable inputs used for our Level 3 fair value measurements as of September 30, 2013 and December 31, 2012 reported in the above tables, is as follows:

Description	Fair Value at					Unobservable Inputs	Range
	September 30, 2013		December 31, 2012				Minimum				Maximum
	(in thousands)				Valuation Technique		2013		2012		2013		2012
Property	$	8,576	$	13,906	Broker valuation estimate	Indicative bid (1)
					Bona fide purchase offers	Contract price (1)
					Discounted cash flows	Discount rate							10.0		%
						Capitalization rate			9.3	%			9.5		%
						Holding period (years)							1
						Expected future inflation rate (2)							3.0		%
						Market rent growth rate (2)							3.0		%
						Expense growth rate (2)							3.0		%
						Vacancy rate (2)							5.0		%
						Renewal rate (2)							75.0		%
						Average market rent rate (2)							$	10.52
						Average leasing cost per square foot (2)							$	16.50
Notes receivable from real estate joint ventures and partnerships	85,897		93,572		Discounted cash flows	Discount rate					2.7	%	3.0		%
Tax increment revenue bonds	25,850		26,505		Discounted cash flows	Discount rate					7.5	%	7.5		%
						Expected future growth rate	1.0	%	1.0	%	2.0	%	4.0		%
						Expected future inflation rate	1.0	%	1.0	%	2.0	%	2.0		%
Fixed-rate debt	2,055,495		2,094,122		Discounted cash flows	Discount rate	1.2	%	1.1	%	7.2	%	6.5		%
Variable-rate debt	289,560		223,759		Discounted cash flows	Discount rate	.8	%	1.4	%	5.0	%	5.0		%

_______________

(1) These fair values were developed by third parties, subject to our corroboration for reasonableness.

(2) Only applies to one property valuation.

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Note 20. Subsequent Events

Subsequent to September 30, 2013, we acquired additional real estate assets totaling $85.6 million, including a 350,000 square foot in-fill shopping center in Austin, Texas.

Subsequent to September 30, 2013, we entered an agreement with our joint venture partners. Pursuant to the agreement, we settled a lawsuit filed against our joint venture partner in connection with a development project in Sheridan, Colorado and paid down a $16.1 million note receivable (see Note 5 for further information) in exchange for cash and real property totaling $19.1 million, receipt of our partner’s interest in two consolidated joint ventures resulting in an increase of approximately $16.2 million in noncontrolling interests and distribution of our interest in two unconsolidated joint ventures with total assets of $23.2 million at September 30, 2013.

Subsequent to September 30, 2013, we executed a non-binding letter of intent to dissolve a consolidated joint venture with $172.5 million in total assets, in which we have a 30% ownership interest, through a distribution of properties to each partner. Pursuant to this agreement, a $100 million note payable was repaid prior to maturity.

On October 15, 2013, we issued $250 million of 4.45% senior unsecured notes maturing in 2024. The notes were issued at 99.58% of the principal amount with a yield to maturity of 4.50%. The net proceeds received of $247.3 million were used to reduce all amounts outstanding under our $500 million unsecured revolving credit facility, andnet excess proceeds were invested in short-term instruments and will be used to pay down future debt maturities or for general business purposes. In connection with the issuance of these notes, we received $6.1 million associated with the settlement of our three forward-starting interest rate contracts with an aggregate notional amount of $150 million.

*****

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ITEM 2.     Management’s Discussion and Analysis of Financial Condition and Results of Operations

Forward-Looking Statements

This quarterly report on Form 10-Q, together with other statements and information publicly disseminated by us, contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and include this statement for purposes of complying with these safe harbor provisions. Forward-looking statements, which are based on certain assumptions and describe our future plans, strategies and expectations, are generally identifiable by use of the words “believe,” “expect,” “intend,” “anticipate,” “estimate,” “project,” or similar expressions. You should not rely on forward-looking statements since they involve known and unknown risks, uncertainties and other factors, which are, in some cases, beyond our control and which could materially affect actual results, performances or achievements. As described in "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2012, factors which may cause actual results to differ materially from current expectations include, but are not limited to, (i) disruptions in financial markets, (ii) general economic and local real estate conditions, (iii) the inability of major tenants to continue paying their rent obligations due to bankruptcy, insolvency or general downturn in their business, (iv) financing risks, such as the inability to obtain equity, debt, or other sources of financing on favorable terms, (v) changes in governmental laws and regulations, (vi) the level and volatility of interest rates, (vii) the availability of suitable acquisition opportunities, (viii) the ability to dispose properties, (ix) changes in expected development activity, (x) increases in operating costs, (xi) tax matters, including failure to qualify as a real estate investment trust, and (xii) investments through real estate joint ventures and partnerships, which involve risks not present in investments in which we are the sole investor. Accordingly, there is no assurance that our expectations will be realized. We do not undertake any obligation to release publicly any revisions to our forward-looking statements to reflect events or circumstances occurring after the date of this Quarterly Report on Form 10-Q.

The following discussion should be read in conjunction with the consolidated financial statements and notes thereto and the comparative summary of selected financial data appearing elsewhere in this report. Historical results and trends which might appear should not be taken as indicative of future operations. Our results of operations and financial condition, as reflected in the accompanying consolidated financial statements and related footnotes, are subject to management’s evaluation and interpretation of business conditions, retailer performance, changing capital market conditions and other factors which could affect the ongoing viability of our tenants.

Executive Overview

Weingarten Realty Investors is a REIT organized under the Texas Business Organizations Code. We, and our predecessor entity, began the ownership and development of shopping centers and other commercial real estate in 1948. Our primary business is leasing space to tenants in the shopping centers we own or lease. We also provide property management services for which we charge fees for either joint ventures where we are partners or for other outside owners.

We operate a portfolio of rental properties, primarily neighborhood and community shopping centers, totaling approximately 50.4 million square feet of gross leasable area, that is either owned by us or others. We have a diversified tenant base with our largest tenant comprising only 3.2% of total rental revenues during the first nine months of 2013.

At September 30, 2013, we owned or operated under long-term leases, either directly or through our interest in real estate joint ventures or partnerships, a total of 271 developed income-producing properties and two properties under various stages of construction and development, which are located in 21 states spanning the country from coast to coast.

We also owned interests in 38 parcels of land held for development that totaled approximately 27.4 million square feet at September 30, 2013.

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We had approximately 6,600 leases with 4,400 different tenants at September 30, 2013. Leases for our properties range from less than a year for smaller spaces to over 25 years for larger tenants. Rental revenues generally include minimum lease payments, which often increase over the lease term, reimbursements of property operating expenses, including real estate taxes, and additional rent payments based on a percentage of the tenants’ sales. Our anchor tenants are supermarkets, value-oriented apparel/discount stores and other retailers or service providers who generally sell basic necessity-type goods and services. Through challenging economic environments, we believe the stability of our anchor tenants, combined with convenient locations, attractive and well-maintained properties, high quality retailers and a strong tenant mix, should ensure the long-term success of our merchants and the viability of our portfolio.

Our goal is to remain a leader in owning and operating top-tier neighborhood and community shopping centers within the United States. Currently, we are focused on three strategic initiatives: (1) improving operations, (2) recycling capital to improve our portfolio and (3) maintaining a strong, flexible consolidated balance sheet. We believe these initiatives will continue to keep our portfolio of properties in the forefront of being among the strongest in our sector.

Under our capital recycling plan, we continue to dispose of non-core operating properties, which provides capital for growth opportunities and strengthens our operating fundamentals. During the first nine months of 2013, we successfully disposed of real estate assets with our share of aggregate gross sales proceeds totaling $239.7 million, both directly or through our interest in real estate joint ventures or partnerships. This program is ongoing, and we expect to complete dispositions in the range of $250 million to $350 million in 2013. We have approximately $210.9 million of dispositions currently under contracts or letters of intent; however, there are no assurances that these transactions will close.

As we are generally selling lower tier, non-core assets, potential buyers looking to finance such acquisitions may find access to capital an issue; especially if long-term rates rise. Even with these conditions, we continue to believe we will successfully execute our disposition plan; although a number of factors, including weaknesses in the secured lending markets or a downturn in the economy, could impact our ability to execute this plan.

We continue to actively seek acquisitions and new development opportunities to grow our operations. During the first nine months of 2013, we have closed on acquisitions, including our pro rata share of interests in unconsolidated real estate joint ventures, totaling $89.3 million. Subsequent to September 30, 2013, we acquired additional real estate assets totaling $85.6 million. Despite substantial competition for quality opportunities and the uncertainty of long-term rates, we will continue to identify select acquisition properties that meet our return hurdles and to actively evaluate other opportunities as they enter the market. For 2013, we expect to invest in acquisitions and new developments in the range of $190 million to $250 million.

We strive to maintain a strong, conservative capital structure which provides ready access to a variety of attractive long and short-term capital sources. We carefully balance lower cost short-term financing with long-term liabilities associated with acquired or developed long-term assets. In March 2013, we issued $300 million of 3.5% senior unsecured notes maturing in 2023. This offering allowed us to repay amounts outstanding under our revolving credit facility, which included borrowings used to redeem $75.0 million of our 6.75% Series D Cumulative Redeemable Preferred Shares and $63.0 million of fixed-rate medium term notes. Additionally, in June 2013, we redeemed $200 million of our 6.5% Series F Cumulative Redeemable Preferred Shares. Subsequent to September 30, 2013, we issued $250 million of 4.45% senior unsecured notes maturing in 2024. The proceeds were used to repay all amounts outstanding under our revolving credit facility with the balance invested in short-term investments. This offering allowed us to effectively pre-fund our January 2014 maturities totaling $285 million in anticipation of potential volatility and uncertainty of the capital markets.

In April 2013, we amended our $500 million unsecured revolving credit facility. The amendment reduces the borrowing margin and facility fee, which are priced off a grid that is tied to our senior unsecured credit ratings, by 10 and five basis points, respectively. In addition, the unsecured revolving credit facility's maturity date has been extended to 2017 with options to extend up to an additional year. These transactions continue to strengthen our consolidated balance sheet and further enhance our access to various sources of capital, while reducing our cost of capital. While the availability of capital has improved over the past year, there can be no assurance that favorable pricing and availability will not deteriorate in the future.

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Operational Metrics

In assessing the performance of our centers, management carefully monitors various operating metrics of the portfolio. Below are performance metrics associated with our signed occupancy, same property net operating income ("SPNOI") growth and leasing activity on a pro rata basis.

	September 30,
	2013		2012
Anchor (space of 10,000 square feet or greater)	97.9	%	97.2	%
Non-Anchor	88.7	%	88.3	%
Total Occupancy	94.4	%	93.6	%

	Three Months Ended September 30, 2013		Nine Months Ended September 30, 2013
SPNOI Growth (1)	4.7	%	4.5	%

_______________

(1) See Non-GAAP Financial Measures for a definition of the measurement of SPNOI and a reconciliation to operating income within this section of Item 2.

	Number of Leases	Square Feet ('000's)	Average New Rent per Square Foot ($)		Average Prior Rent per Square Foot ($)		Average Cost of Tenant Improvements per Square Foot ($)		Change in Base Rent on Cash Basis
Leasing Activity:
Three Months Ended September 30, 2013
New leases (1)	47	101	$	22.55	$	20.61	$	13.02	9.4	%
Renewals	221	642	17.71		16.71		0.25		6.0	%
Not comparable spaces	62	227	—		—		—		—	%
Total	330	970	$	18.37	$	17.24	$	1.98	6.5	%
Nine Months Ended September 30, 2013
New leases (1)	199	527	$	20.24	$	17.97	$	16.12	12.6	%
Renewals	681	2,434	15.56		14.92		0.16		4.3	%
Not comparable spaces	208	750	—		—		—		—	%
Total	1,088	3,711	$	16.39	$	15.46	$	3.00	6.0	%

_______________

(1) Average lease commissions per square foot for the three and nine months ended September 30, 2013 were $5.70 and $4.43, respectively.

The operating metrics of our portfolio continue to strengthen in 2013 as we focus on increasing occupancy and SPNOI. Our portfolio delivered solid operating results with:

• improved occupancy to 94.4% including, an increase of .4% in non-anchor shop (spaces less than 10,000 square feet) occupancy over 2012, primarily as a result of our disposition program and lack of new available retail space in the market;

• an increase of 4.5% in SPNOI for the nine months ended September 30, 2013 over the same period of 2012; and

• rental rate increases of 9.4% for new leases in the current quarter.

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While we will continue to monitor the economy and the effects on our tenants, we believe the significant diversification of our portfolio, both geographically and by tenant base, and the quality of our portfolio will allow us to further increase occupancy levels as we move through the remainder of 2013 and into 2014, albeit at a lesser rate then the two previous years, assuming, among other things, no bankruptcies by multiple national or regional tenants. A reduction in quality retail space available contributed to the increase in overall rental rates on a same-space basis as we completed new leases and renewed existing leases. Leasing volume is anticipated to decline as we have less vacant space available for leasing and are experiencing reductions in the number of tenant fallouts. While we have achieved strong growth in SPNOI during the first nine months of 2013, maintaining this level of positive operating performance through the remainder of 2013 is not assured. Our expectation is that SPNOI will average between 3.5% to 4% for the year.

New Development

At September 30, 2013, we had two properties in various stages of construction and development. We have funded $67.5 million to date on these projects, and we estimate our aggregate net investment upon completion to be $97.7 million. Overall, the average projected stabilized return on investment for these properties is approximately 7.9% upon completion.

We have approximately $118.3 million in land held for development at September 30, 2013. While we are experiencing a greater interest than previous years from retailers and other market participants in our land held for development, opportunities for economically viable developments remain scarce. We continue to pursue additional development and redevelopment opportunities in multiple markets; however, finding the right opportunities remains very challenging.

Acquisitions and Joint Ventures

Acquisitions are a key component of our long-term strategy. The availability of quality acquisition opportunities in the market remains sporadic. Competition for the highest quality core properties is intense which has, in many cases, driven pricing to pre-recession highs. We remain disciplined in approaching these opportunities, pursuing only those that provide appropriate risk-adjusted returns.

Dispositions

Dispositions are also a key component of our ongoing management process where we selectively prune properties from our portfolio that no longer meet our geographic or growth targets. Dispositions provide capital, which may be recycled into properties that have high barrier-to-entry locations within high growth metropolitan markets, and thus have higher long-term growth potential. Additionally, proceeds from dispositions may be used to reduce outstanding debt, further deleveraging our consolidated balance sheet. Over time, we expect this will produce a portfolio with higher occupancy rates and stronger revenue growth.

Summary of Critical Accounting Policies

Our discussion and analysis of financial condition and results of operations is based on our condensed consolidated financial statements, which have been prepared in accordance with GAAP. The preparation of these financial statements requires us to make estimates and judgments that affect the reported amounts of assets, liabilities and contingencies as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. We evaluate our assumptions and estimates on an ongoing basis. We base our estimates on historical experience and on various other assumptions that we believe to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions.

A disclosure of our critical accounting policies which affect our more significant judgments and estimates used in the preparation of our condensed consolidated financial statements is included in our Annual Report on Form 10-K for the year ended December 31, 2012 in Management’s Discussion and Analysis of Financial Condition and Results of Operations. There have been no significant changes to our critical accounting policies during 2013, and there are no accounting pronouncements that have been issued, but not yet adopted, that we believe will have a material impact to our consolidated financial statements.

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Results of Operations

Comparison of the Three Months Ended September 30, 2013 to the Three Months Ended September 30, 2012

The following table is a summary of certain items from our Condensed Consolidated Statements of Operations and Comprehensive Income, which we believe represent items that significantly changed during the third quarter of 2013 as compared to the same period in 2012:

	Three Months Ended September 30,
	2013		2012		Change			% Change
Revenues	$	130,667	$	122,319	$	8,348		6.8	%
Depreciation and amortization	37,122		34,591		2,531			7.3
Real estate taxes, net	15,624		14,499		1,125			7.8
Impairment loss	2,358		197		2,161			1,097.0
Gain on acquisition	—		1,869		(1,869		)	100.0

Revenues

The increase in revenues of $8.3 million is primarily attributable to an increase in net rental revenues from acquisitions and new development completions, which contributed $3.6 million, as well as increases in occupancy and rental rates.

Depreciation and Amortization

The increase of $2.5 million is attributable primarily to acquisitions, new development completions and other capital activities.

Real Estate Taxes, net

The increase in real estate taxes, net of $1.1 million is primarily attributable to rate and valuation changes, as well as acquisitions and new development completions.

Impairment Loss

The increase in impairment loss of $2.2 million is primarily attributable to the loss in 2013 associated with two unimproved land parcels.

Gain on Acquisition

The decrease of $1.9 million is primarily attributable to the realization upon consolidation of our equity associated with the purchase of a 79.6% unconsolidated joint venture interest in 2012.

Comparison of the Nine Months Ended September 30, 2013 to the Nine Months Ended September 30, 2012

The following table is a summary of certain items from our Condensed Consolidated Statements of Operations and Comprehensive Income, which we believe represent items that significantly changed during the first nine months of 2013 as compared to the same period in 2012:

	Nine Months Ended September 30,
	2013		2012			Change			% Change
Revenues	$	383,752	$	350,853		$	32,899		9.4	%
Depreciation and amortization	112,347		97,845			14,502			14.8
Operating expenses	74,213		69,048			5,165			7.5
Real estate taxes, net	45,242		41,306			3,936			9.5
Impairment loss	2,579		9,585			(7,006		)	(73.1	)
General and administrative expenses	18,818		21,101			(2,283		)	(10.8	)
Interest expense, net	73,689		86,692			(13,003		)	(15.0	)
Gain on sale of real estate joint venture and partnerships interests	11,599		5,562			6,037			108.5
Equity in earnings (losses) of real estate joint ventures and partnerships,net	14,467		(6,715		)	21,182			315.4
Gain on acquisition	—		1,869			(1,869		)	100.0

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Revenues

The increase in revenues of $32.9 million is attributable to an increase in net rental revenues from acquisitions and new development completions, which contributed $16.4 million, as well as increases in occupancy and rental rates.

Depreciation and Amortization

The increase of $14.5 million is attributable primarily to acquisitions, new development completions and other capital activities.

Operating Expenses

The increase in operating expenses of $5.2 million is primarily attributable to acquisitions which totaled $2.8 million and an overall increase in expenses.

Real Estate Taxes, net

The increase in real estate taxes, net of $3.9 million is primarily attributable to rate and valuation changes, as well as acquisitions and new development completions.

Impairment Loss

The decrease in impairment loss of $7.0 million is primarily attributable to the $6.6 million loss in 2012 associated with an equity interest in an unconsolidated real estate joint venture that owned industrial properties.

General and Administrative Expenses

The decrease in general and administrative expenses of $2.3 million is primarily attributable to a reduction in personnel and a decrease in share-based compensation associated with retirement eligible employees.

Interest Expense, net

Net interest expense decreased $13.0 million or 15.0%. The components of net interest expense were as follows (in thousands):

	Nine Months Ended September 30,
	2013			2012
Gross interest expense	$	85,615		$	89,764
Over-market mortgage adjustment	(10,202		)	(678		)
Capitalized interest	(1,724		)	(2,394		)
Total	$	73,689		$	86,692

Gross interest expense totaled $85.6 million during the first nine months of 2013, down $4.1 million or 4.6% from the first nine months of 2012. The decrease in gross interest expense results from a reduction in both interest rates and the weighted average debt outstanding as a result of refinancing notes and mortgages with proceeds from dispositions and issuances of two series of 10-year notes each in the principal amount of $300 million at an average interest rate of 3.4%. In the first nine months of 2013, the weighted average debt outstanding was $2.2 billion at a weighted average interest rate of 5.09% as compared to $2.3 billion outstanding at a weighted average interest rate of 5.15% in 2012. The increase in the over-market mortgage adjustment of $9.5 million is attributable primarily to a $9.7 million write-off of an above-market mortgage intangible associated with the early payoff of the related mortgage.

Gain on Sale of Real Estate Joint Venture and Partnership Interests

The gain in 2013 is attributable to the liquidation of an unconsolidated real estate joint venture that owned industrial properties and the sale of an interest in two unconsolidated real estate joint ventures, while the gain in 2012 was associated with the sale of an interest in three unconsolidated real estate joint ventures.

Equity in Earnings (Losses) of Real Estate Joint Ventures and Partnerships, net

The increase in equity in earnings (losses) of real estate joint ventures and partnerships, net of $21.2 million is primarily associated with our share of impairment losses recorded in 2012, which totaled $19.9 million.

Gain on Acquisition

The decrease of $1.9 million is attributable to the realization upon consolidation of our equity associated with the purchase of a 79.6% unconsolidated joint venture interest in 2012.

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Effects of Inflation

We have structured our leases in such a way as to remain largely unaffected should significant inflation occur. Most of the leases contain percentage rent provisions whereby we receive increased rentals based on the tenants’ gross sales. Many leases provide for increasing minimum rental rates during the terms of the leases through escalation provisions. In addition, many of our leases are for terms of less than 10 years, allowing us to adjust rental rates to changing market conditions when the leases expire. Most of our leases also require the tenants to pay their proportionate share of operating expenses and real estate taxes. As a result of these lease provisions, increases due to inflation, as well as real estate tax rate increases, generally do not have a significant adverse effect upon our operating results as they are absorbed by our tenants. Under the current economic climate, little to no inflation is occurring.

Capital Resources and Liquidity

Our primary liquidity needs are paying our common and preferred dividends, maintaining and operating our existing properties, paying our debt service costs, excluding debt maturities, and funding capital expenditures. Under our 2013 business plan, cash flows from operating activities are expected to meet these planned capital needs.

The primary sources of capital for funding any debt maturities and acquisitions are our credit facilities; proceeds from both secured and unsecured debt issuances; proceeds from common and preferred equity issuances; cash generated from the sale of property and the formation of joint ventures; and cash flow generated by our operating properties. Amounts outstanding under the revolving credit facility are retired as needed with proceeds from the issuance of long-term debt, common and preferred equity, cash generated from the disposition of properties and cash flow generated by our operating properties.

As of September 30, 2013, we had an available balance of $397.8 million under our revolving credit facility, and our remaining debt maturities for 2013 totaled $65.7 million. In March 2013, we issued $300 million of 3.5% senior unsecured notes maturing in 2023. Proceeds from this offering allowed us to reduce amounts outstanding under our revolving credit facility, which included borrowings used to redeem $75.0 million of our 6.75% Series D Cumulative Redeemable Preferred Shares and $63.0 million of fixed-rate medium term notes. Also, in June 2013, we redeemed $200 million of our 6.5% Series F Cumulative Redeemable Preferred Shares.

Subsequent to September 30, 2013, we issued $250 million of 4.45% senior unsecured notes maturing in 2024. This offering allowed us to repay all amounts outstanding under our revolving credit facility with the balance invested in short-term investments; effectively pre-funding our January 2014 debt maturities totaling $285 million in anticipation of potential volatility and uncertainty of the capital markets.

We believe proceeds from our disposition program, combined with our available capacity under the credit facilities, will provide adequate liquidity to fund our capital needs, including acquisitions and new development activities. In the event our disposition program does not progress as expected, we believe other debt and equity alternatives are available to us. Although external market conditions are not within our control, we do not currently foresee any reasons that would prevent us from entering the capital markets if needed.

During 2013, aggregate gross sales proceeds from our dispositions totaled $239.7 million. Operating cash flows from discontinued operations are included in net cash from operating activities in our Condensed Consolidated Statements of Cash Flows, while proceeds from discontinued operations are included as investing activities. At September 30, 2013, discontinued operations represent 5.9% of our net cash from operating activities, and we would expect future net cash from operating activities to decrease accordingly when compared to prior periods.

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We have non-recourse debt secured by acquired or developed properties held in several of our real estate joint ventures and partnerships. Off balance sheet mortgage debt for our unconsolidated real estate joint ventures and partnerships totaled $467.9 million, of which our ownership percentage is $179.3 million at September 30, 2013. Scheduled principal mortgage payments on this debt, excluding non-cash related items totaling $1.2 million, at 100% are as follows (in millions):

2013 remaining	$	2.9
2014	106.4
2015	43.9
2016	122.4
2017	56.8
Thereafter	134.3
Total	$	466.7

We hedge the future cash flows of certain debt transactions, as well as changes in the fair value of our debt instruments, principally through interest rate contracts with major financial institutions. We generally have the right to sell or otherwise dispose of our assets except in certain cases where we are required to obtain our joint venture partners’ consent or a third party consent for assets held in special purpose entities, which are 100% owned by us.

Investing Activities:

Acquisitions

During 2013, we acquired two centers and a 51% interest in a center at an unconsolidated real estate joint venture for approximately $89.3 million. Subsequent to September 30, 2013, we acquired additional real estate assets totaling $85.6 million.

Dispositions

During 2013, we sold an interest in two unconsolidated real estate joint ventures, 18 centers and other property and four real estate assets through our interests in unconsolidated real estate joint ventures and partnerships. Our share of aggregate gross sales proceeds from these transactions totaled $239.7 million and generated gains of $116.9 million. Also, we realized an $11.5 million gain associated with the liquidation of an unconsolidated real estate joint venture that owned industrial properties. Subsequent to September 30, 2013, we executed a non-binding letter of intent to dissolve a consolidated joint venture with $172.5 million in total assets.

New Development

At September 30, 2013, we had two projects under various stages of construction and development with a total square footage of approximately .6 million, of which we have funded $67.5 million to date on these projects. Upon completion, we expect our aggregate net investment in these properties to be $97.7 million.

Our new development projects are financed initially under our revolving credit facility, as it is our practice not to use third party construction financing. Management monitors amounts outstanding under our revolving credit facility and periodically pays down such balances using cash generated from operations, from debt issuances, from common and preferred share issuances and from the disposition of properties.

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Capital Expenditures

Capital expenditures for additions to the existing portfolio, acquisitions, tenant improvements, new development and our share of investments in unconsolidated real estate joint ventures and partnerships are as follows (in thousands):

	Nine Months Ended September 30,
	2013		2012
Acquisitions	$	76,051	$	202,196
Tenant Improvements	24,380		31,571
New Development	12,431		22,653
Redevelopment	2,069		2,950
Other	11,257		14,402
Total	$	126,188	$	273,772

The decrease in capital expenditures is attributable primarily to the acquisition of 8000 Sunset Boulevard, a 171,000 square foot center located in California, in 2012. The decline in new development is associated with the stabilization of nine properties in 2012, while the decrease in tenant improvements is primarily attributable to the recycling of the portfolio and a decline in costs to obtain new tenant leases over the prior year.

For 2013, we anticipate our acquisitions to total between $175 million and $200 million. We anticipate our 2013 tenant improvement expenditures to be slightly below 2012. Our new development investment for 2013 is estimated to be approximately $15 million to $50 million. Further, we have entered into commitments aggregating $73.3 million comprised principally of construction contracts which are generally due in 12 to 36 months and anticipated to be funded under our revolving credit facility.

Capital expenditures for additions described above relate to the following cash flows from investing activities as follows(in thousands):

	Nine Months Ended September 30,
	2013		2012
Acquisition of real estate and land	$	58,173	$	196,801
Development and capital improvements	50,014		68,345
Real estate joint ventures and partnerships - Investments	17,712		8,445
Notes Receivable from real estate joint ventures and partnerships - Advances for capital expenditures	289		181
Total	$	126,188	$	273,772

Capitalized soft costs, including payroll and other general and administrative costs, interest and real estate taxes, totaled $6.7 million and $7.3 million for the nine months ended September 30, 2013 and 2012, respectively.

Financing Activities:

Debt

Total debt outstanding was $2.3 billion at September 30, 2013 and included $2.0 billion on which interest rates are fixed and $280.6 million, including the effect of $117.1 million of interest rate contracts, which bears interest at variable rates. Additionally, of our total debt, $794.6 million was secured by operating properties while the remaining $1.5 billion was unsecured.

At September 30, 2013, we have a $500 million unsecured revolving credit facility which expires in April 2017 and provides borrowing rates that float at a margin over LIBOR plus a facility fee. At September 30, 2013, the borrowing margin and facility fee, which are priced off a grid that is tied to our senior unsecured credit ratings, are 115 and 20 basis points, respectively. The facility also contains a competitive bid feature that will allow us to request bids for up to $250 million. Additionally, an accordion feature allows us to increase the facility amount up to $700 million. As of October 31, 2013, we had no amounts outstanding, and the available balance was $497.8 million, net of $2.2 million in outstanding letters of credit.

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We also have an agreement with a bank for an unsecured and uncommitted overnight facility totaling $99 million that we maintain for cash management purposes. The facility provides for fixed interest rate loans at a 30-day LIBOR rate plus a borrowing margin based on market liquidity. As of October 31, 2013, we had no amounts outstanding under this facility.

For the nine months ended September 30, 2013, the maximum balance and weighted average balance outstanding under both facilities combined were $265.5 million and $79.1 million, respectively, at a weighted average interest rate of 1.1%.

In March 2013, we issued $300 million of 3.5% senior unsecured notes maturing in 2023. This transaction allowed us to reduce amounts outstanding under our revolving credit facility, which included borrowings used to redeem $75.0 million of our 6.75% Series D Cumulative Redeemable Preferred Shares and $63.0 million of fixed-rate medium term notes.

Subsequent to September 30, 2013, we issued $250 million of 4.45% senior unsecured notes maturing in 2024. This offering allowed us to repay all amounts outstanding under our revolving credit facility with the balance invested in short-term investments. Additionally, subsequent to quarter end, we executed a non-binding letter of intent to dissolve a consolidated joint venture, in which we have a 30% ownership interest, and pursuant to this agreement, a $100 million note payable was repaid prior to maturity.

Our five most restrictive covenants include debt to assets, secured debt to assets, fixed charge and unencumbered interest coverage and debt yield ratios. We believe we were in full compliance with our public debt and revolving credit facility covenants as of September 30, 2013.

Our most restrictive public debt covenant ratios, as defined in our indenture and supplemental indenture agreements, were as follows at September 30, 2013:

Covenant	Restriction	Actual
Debt to Asset Ratio	Less than 60.0%	45.8%
Secured Debt to Asset Ratio	Less than 40.0%	15.9%
Annual Service Charge Ratio	Greater than 1.5	3.2
Unencumbered Asset Test	Greater than 150%	226.1%

At September 30, 2013, we had four interest rate contracts with an aggregate notional amount of $117.1 million that were designated as fair value hedges and convert fixed interest payments at rates ranging from 4.2% to 7.5% to variable interest payments ranging from .3% to 4.3%.

At September 30, 2013, we had three interest rate contracts with an aggregate notional amount of $26 million that were designated as cash flow hedges. These contracts have maturities through September 2017 and either fix or cap interest rates ranging from 2.3% to 5.0%. We have determined that these contracts are highly effective in offsetting future variable interest cash flows.

Also, at September 30, 2013, we had three forward-starting contracts with an aggregate notional amount of $150 million hedging future fixed-rate debt issuances. These contracts are effective in January 2014, mature in January 2024 and fix the 10-year swap rates at 2.4%. Subsequent to September 30, 2013, in connection with the $250 million issuance of 4.45% senior unsecured notes maturing in 2024, we received $6.1 million associated with the settlement of these forward-starting contracts.

We could be exposed to losses in the event of nonperformance by the counter-parties related to our interest rate contracts; however, management believes such nonperformance is unlikely.

Equity

In February 2013, our Board of Trust Managers approved an increase in our quarterly dividend rate for our common shares from $.290 to $.305 per share commencing with the first quarter 2013 distribution. Common and preferred dividends paid totaled $126.3 million during the first nine months of 2013. Our dividend payout ratio (as calculated as dividends paid on common shares divided by funds from operations (“FFO”) - basic) for the nine months ended September 30, 2013 approximated 65.1%, which is inclusive of non-cash transactions including impairment charges and other non-cash items.

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In March 2013, we redeemed our 6.75% Series D Cumulative Redeemable Preferred Shares with a redemption value of $75.0 million. The funding of this redemption was under our revolving credit facility.

In June 2013, we redeemed a portion of our 6.5% Series F Cumulative Redeemable Preferred Shares with a redemption value of $200 million. The funding of this redemption was under our revolving credit facility.

We have an effective universal shelf registration statement which expires in October 2014. We will continue to closely monitor both the debt and equity markets and carefully consider our available financing alternatives, including both public offerings and private placements.

Contractual Obligations

We have debt obligations related to our mortgage loans and unsecured debt, including any draws on our credit facilities. We have shopping centers that are subject to non-cancelable long-term ground leases where a third party owns and has leased the underlying land to us to construct and/or operate a shopping center. In addition, we have non-cancelable operating leases pertaining to office space from which we conduct our business. The table below excludes obligations related to our new development projects because such amounts are not fixed or determinable, and commitments aggregating $73.3 million comprised principally of construction contracts which are generally due in 12 to 36 months. The following table summarizes our primary contractual obligations as of September 30, 2013 (in thousands):

	Remaining
	2013		2014		2015		2016		2017		Thereafter		Total
Mortgages and Notes Payable (1)
Unsecured Debt	$	82,940	$	358,059	$	127,930	$	112,139	$	55,175	$	994,821	$	1,731,064
Secured Debt	17,303		199,524		220,105		198,432		132,788		177,538		945,690
Lease Payments	941		3,556		3,339		3,170		2,950		133,294		147,250
Other Obligations (2)	20,754		34,366		75		75		—		—		55,270
Total Contractual Obligations	$	121,938	$	595,505	$	351,449	$	313,816	$	190,913	$	1,305,653	$	2,879,274

_______________

(1) Includes principal and interest with interest on variable-rate debt calculated using rates at September 30, 2013, excluding the effect of interest rate swaps. Also, excludes a $74.1 million debt service guaranty liability.

(2) Other obligations include income and real estate tax payments, commitments associated with our secured debt and other employee payments. Contributions to our retirement plan are fully funded for 2013 and, therefore, are excluded from the above table.

Related to our investment in a development project in Sheridan, Colorado, we have provided a guaranty for the payment of any debt service shortfalls on tax increment revenue bonds issued in connection with the project. The Agency issued $74.1 million of Series A bonds used for an urban renewal project. The bonds are to be repaid with incremental sales and property taxes and a PIF to be assessed on current and future retail sales and, to the extent necessary, any amounts we may have to provide under a guaranty. The incremental taxes and PIF are to remain intact until the earlier of the payment of the bond liability in full or 2040. The debt associated with this guaranty has been recorded in our consolidated financial statements as of September 30, 2013.

Off Balance Sheet Arrangements

As of September 30, 2013, none of our off balance sheet arrangements had a material effect on our liquidity or availability of, or requirement for, our capital resources. Letters of credit totaling $2.2 million were outstanding under the revolving credit facility at September 30, 2013.

We have entered into several unconsolidated real estate joint ventures and partnerships. Under many of these agreements, we and our joint venture partners are required to fund operating capital upon shortfalls in working capital. We have also committed to fund the capital requirements of new development joint ventures. As operating manager of most of these entities, we have considered these funding requirements in our business plan.

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Reconsideration events, including changes in variable interests, could cause us to consolidate these joint ventures and partnerships. We continuously evaluate these events as we become aware of them. Some triggers to be considered are additional contributions required by each partner and each partner’s ability to make those contributions. Under certain of these circumstances, we may purchase our partner’s interest. Our material unconsolidated real estate joint ventures are with entities which appear sufficiently stable; however, if market conditions were to continue to deteriorate and our partners are unable to meet their commitments, there is a possibility we may have to consolidate these entities. If we were to consolidate all of our unconsolidated real estate joint ventures, we would still be in compliance with our debt covenants.

As of September 30, 2013, one unconsolidated real estate joint ventures was determined to be a VIE through the issuance of a secured loan, since the lender has the ability to make decisions that could have a significant impact on the profitability of the entity. Our maximum risk of loss associated with this VIE was limited to $11.7 million at September 30, 2013.

We have a real estate limited partnership agreement with a foreign institutional investor with a remaining obligation to purchase up to $250 million of retail properties in various states. Our ownership in this unconsolidated real estate limited partnership is 51%.

Non-GAAP Financial Measures

Certain of our key performance indicators are considered non-GAAP financial measures. Management uses these measures along with our GAAP financial statements in order to evaluate our operating results. We believe these additional measures provide users of our financial information additional comparable indicators of our industry, as well as, our performance.

Funds from Operations

The National Association of Real Estate Investment Trusts (“NAREIT”) defines FFO as net income (loss) attributable to common shareholders computed in accordance with GAAP, excluding extraordinary items and gains or losses from sales of operating real estate assets and interests in real estate equity investments, plus depreciation and amortization of operating properties and impairment of depreciable real estate and in substance real estate equity investments, including our share of unconsolidated real estate joint ventures and partnerships. We calculate FFO in a manner consistent with the NAREIT definition.

We believe FFO is a widely recognized measure of REIT operating performance which provides our shareholders with a relevant basis for comparison among other REITs. Management uses FFO as a supplemental internal measure to conduct and evaluate our business because there are certain limitations associated with using GAAP net income by itself as the primary measure of our operating performance. Historical cost accounting for real estate assets in accordance with GAAP implicitly assumes that the value of real estate assets diminishes predictably over time. Since real estate values instead have historically risen or fallen with market conditions, management believes that the presentation of operating results for real estate companies that uses historical cost accounting is insufficient by itself. There can be no assurance that FFO presented by us is comparable to similarly titled measures of other REITs.

FFO should not be considered as an alternative to net income or other measurements under GAAP as an indicator of our operating performance or to cash flows from operating, investing or financing activities as a measure of liquidity. FFO does not reflect working capital changes, cash expenditures for capital improvements or principal payments on indebtedness.

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FFO is calculated as follows (in thousands):

	Three Months Ended September 30,						Nine Months Ended September 30,
	2013			2012(1)			2013			2012(1)
Net income attributable to common shareholders	$	57,832		$	31,404		$	136,921		$	66,282
Depreciation and amortization	36,088			35,611			112,270			106,551
Depreciation and amortization of unconsolidated real estate joint ventures and partnerships	4,443			5,254			13,370			16,261
Impairment of operating properties and real estate equity investments	—			177			457			15,007
Impairment of operating properties of unconsolidated real estate joint ventures and partnerships	—			57			366			19,946
Gain on acquisition	—			(1,869		)	—			(1,869		)
Gain on sale of property and interests in real estate equity investments	(38,325		)	(15,140		)	(91,878		)	(56,047		)
Gain on sale of property of unconsolidated real estate joint ventures and partnerships	(24		)	(435		)	(267		)	(558		)
Funds from operations – basic	60,014			55,059			171,239			165,573
Income attributable to operating partnership units	445			431			1,336			1,294
Funds from operations – diluted	$	60,459		$	55,490		$	172,575		$	166,867
Weighted average shares outstanding – basic	121,359			120,766			121,235			120,637
Effect of dilutive securities:
Share options and awards	1,172			1,078			1,206			1,016
Operating partnership units	1,555			1,582			1,555			1,583
Weighted average shares outstanding – diluted (2)	124,086			123,426			123,996			123,236
Funds from operations per share – basic	$	0.49		$	0.46		$	1.41		$	1.37
Funds from operations per share – diluted	$	0.49		$	0.45		$	1.39		$	1.35

______________________

(1) Prior years’ results were restated to conform to the current year presentation by applying NAREIT's methodology regarding operating partnership units.

(2) The weighted average common shares used to compute FFO per diluted common share includes operating partnership units that were excluded from the computation of diluted earnings per share. Conversion of these operating partnership units is dilutive in the computation of FFO per diluted common share, but is anti-dilutive for the computation of diluted earnings per share for the periods presented.

Same Property Net Operating Income

We consider SPNOI to be a key indicator of our financial performance as it provides a better indication of the recurring cash return on our properties by excluding certain non-cash revenues and expenses, as well as other infrequent or one-time items. We believe a pro rata basis is the most useful measurement as it provides our proportional share of SPNOI from all owned properties, including our share of SPNOI from unconsolidated joint ventures and partnerships, which cannot be readily determined under GAAP measurements and presentation. Although SPNOI is a widely used measure among REITs, there can be no assurance that SPNOI presented by us is comparable to similarly titled measures of other REITs.

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Properties are included in the SPNOI calculation if they are owned and operated for the entirety of the most recent two fiscal year periods, except for properties for which significant redevelopment or expansion occurred during either of the periods presented, and properties classified as discontinued operations. While there is judgment surrounding changes in designations, we move new development and redevelopment properties once they have stabilized, which is typically upon attainment of 90% occupancy. A rollforward of the properties included in our same property designation is as follows:

	Three Months Ended September 30, 2013		Nine Months Ended September 30, 2013
Beginning of the period	263		261
Properties added:
Acquisitions	—		7
New Developments	—		8
Redevelopments	—		3
Properties removed:
Dispositions	(7	)	(21	)
Other	—		(2	)
Redevelopments	—		—
End of the period	256		256

We calculate SPNOI using operating income as defined by GAAP excluding property management fees, certain non-cash revenues and expenses such as straight-line rental revenue and the related reversal of such amounts upon early lease termination, depreciation, amortization, impairment losses, general and administrative expenses, acquisition costs and other one-time items such as lease cancellation income, environmental abatement costs and demolition expenses. Consistent with the capital treatment of such costs under GAAP, tenant improvements, leasing commissions and other direct leasing costs are excluded from SPNOI. A reconciliation of operating income to SPNOI is as follows (in thousands):

	Three Months Ended September 30,						Nine Months Ended September 30,
	2013			2012			2013			2012
Operating Income	$	44,067		$	41,424		$	130,553		$	111,968
Less:
Revenue adjustments (1)	2,529			3,454			8,434			8,678
Add:
Property management fees	733			644			2,431			2,129
Depreciation and amortization	37,122			34,591			112,347			97,845
Impairment loss	2,358			197			2,579			9,585
General and administrative	5,966			6,417			18,818			21,101
Acquisition costs	18			981			428			1,473
Other (2)	273			196			54			574
Net Operating Income	88,008			80,996			258,776			235,997
Less: NOI related to consolidated entities not defined as same property and noncontrolling interests	(10,673		)	(7,275		)	(30,243		)	(17,842		)
Add: Pro rata share of unconsolidated entities defined as same property	10,710			10,398			31,656			30,911
Same Property Net Operating Income	$	88,045		$	84,119		$	260,189		$	249,066

_______________

(1) Revenue adjustments consist primarily of straight-line rentals, lease cancellation income and fee income primarily from real estate joint ventures and partnerships.

(2) Other includes items such as environmental abatement costs and demolition expenses.

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Newly Issued Accounting Pronouncements

In February 2013, the FASB issued ASU No. 2013-04, "Obligations Resulting From Joint and Several Liability Arrangements for Which the Total Amount of the Obligation is Fixed at the Reporting Date." This ASU requires an entity to measure obligations resulting from joint and several liability arrangements for which the total amount of the obligation is fixed at the reporting date, as the sum of (1) the amount the reporting entity has agreed to pay in accordance to the arrangement and (2) any additional amounts the reporting entity expects to pay on behalf of its co-obligors. Additional disclosures on the nature and amounts of the obligation will also be required. The provisions of ASU No. 2013-04 are effective for us on January 1, 2014, and are required to be applied retrospectively. We do not expect the adoption of this update to have a material impact on our consolidated financial statements.

In July 2013, the FASB issued ASU No. 2013-11, "Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists." This ASU amends current GAAP to require entities to present an unrecognized tax benefit, or a portion of an unrecognized tax benefit, as a reduction to a deferred tax asset for net operating loss or other tax credit carryforwards when settlement is available under the tax law. The provisions of ASU 2013-11 are effective for us on January 1, 2014, and are required to be applied to all unrecognized tax benefits in existence. Retrospective application may be applied to prior reporting periods presented. We do not expect the adoption of this update to have a material impact on our consolidated financial statements.

ITEM 3.    Quantitative and Qualitative Disclosures About Market Risk

We use fixed and floating-rate debt to finance our capital requirements. These transactions expose us to market risk related to changes in interest rates. Derivative financial instruments are used to manage a portion of this risk, primarily interest rate contracts with major financial institutions. These agreements expose us to credit risk in the event of non-performance by the counter-parties. We do not engage in the trading of derivative financial instruments in the normal course of business. At September 30, 2013, we had fixed-rate debt of $2.0 billion and variable-rate debt of $280.6 million, after adjusting for the net effect of $117.1 million notional amount of interest rate contracts. In the event interest rates were to increase 100 basis points and holding all other variables constant, annual net income and cash flows for the following year would decrease by approximately $2.8 million associated with our variable-rate debt, including the effect of the interest rate contracts. The effect of the 100 basis points increase would decrease the fair value of our variable-rate and fixed-rate debt by approximately $7.0 million and $88.1 million, respectively.

ITEM 4.    Controls and Procedures

Under the supervision and with the participation of our principal executive officer and principal financial officer, management has evaluated the effectiveness of the design and operation of our disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) of the Securities Exchange Act of 1934) as of September 30, 2013. Based on that evaluation, our principal executive officer and our principal financial officer have concluded that our disclosure controls and procedures were effective as of September 30, 2013.

There has been no change to our internal control over financial reporting during the quarter ended September 30, 2013 that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

PART II-OTHER INFORMATION

ITEM 1.     Legal Proceedings

We are involved in various matters of litigation arising in the normal course of business. While we are unable to predict the amounts involved, our management and counsel believe that when such litigation is resolved, our resulting liability, if any, will not have a material effect on our consolidated financial statements.

ITEM 1A.  Risk Factors

We have no material changes to the risk factors discussed in our Annual Report on Form 10-K for the year ended December 31, 2012.

43

ITEM 2.     Unregistered Sales of Equity Securities and Use of Proceeds

None.

ITEM 3.     Defaults Upon Senior Securities

None.

ITEM 4.     Mine Safety Disclosures

Not applicable.

ITEM 5.     Other Information

Not applicable.

ITEM 6.     Exhibits

The exhibits required by this item are set forth on the Exhibit Index attached hereto.

44

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

WEINGARTEN REALTY INVESTORS
(Registrant)
By:	/s/ Andrew M. Alexander
	Andrew M. Alexander
	President and Chief Executive Officer
By:	/s/ Joe D. Shafer
	Joe D. Shafer
	Senior Vice President/Chief Accounting Officer
	(Principal Accounting Officer)

DATE: November 6, 2013

45

EXHIBIT INDEX

(a)		Exhibits:
4.1	—	Form of 4.450% Senior Note due 2024 (filed as Exhibit 4.1 to WRI's Form 8-K on October 15, 2013 and incorporated herein by reference).
31.1*	—	Certification pursuant to Section 302(a) of the Sarbanes-Oxley Act of 2002 (Chief Executive Officer).
31.2*	—	Certification pursuant to Section 302(a) of the Sarbanes-Oxley Act of 2002 (Chief Financial Officer).
32.1**	—	Certification pursuant to 18 U.S.C. Sec. 1350, as adopted pursuant to Sec. 906 of the Sarbanes-Oxley Act of 2002 (Chief Executive Officer).
32.2**	—	Certification pursuant to 18 U.S.C. Sec. 1350, as adopted pursuant to Sec. 906 of the Sarbanes-Oxley Act of 2002 (Chief Financial Officer).
101.INS**	—	XBRL Instance Document
101.SCH**	—	XBRL Taxonomy Extension Schema Document
101.CAL**	—	XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF**	—	XBRL Taxonomy Extension Definition Linkbase Document
101.LAB**	—	XBRL Taxonomy Extension Labels Linkbase Document
101.PRE**	—	XBRL Taxonomy Extension Presentation Linkbase Document

* Filed with this report.

** Furnished with this report.

46

EX-31.1

EXHIBIT 31.1

CERTIFICATION

I, Andrew M. Alexander, certify that:

1.I have reviewed this report on Form 10-Q of Weingarten Realty Investors;

2.Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a)Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b)Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c)Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d)Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5.The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of registrant’s board of directors (or persons performing the equivalent functions):

a)All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b)Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

BY:	/s/ Andrew M. Alexander
	Andrew M. Alexander
	President/Chief Executive Officer

November 6, 2013

EX-31.2

EXHIBIT 31.2

CERTIFICATION

I, Stephen C. Richter, certify that:

1.I have reviewed this report on Form 10-Q of Weingarten Realty Investors;

2.Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a)Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b)Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c)Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d)Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5.The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of registrant’s board of directors (or persons performing the equivalent functions):

a)All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b)Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

BY:	/s/ Stephen C. Richter
	Stephen C. Richter
	Executive Vice President/Chief Financial Officer

November 6, 2013

EX-32.1

EXHIBIT 32.1

CERTIFICATION OF CHIEF EXECUTIVE OFFICER PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of Weingarten Realty Investors (the “Company”) on Form 10-Q for the period ended September 30, 2013, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Andrew M. Alexander, President and Chief Executive Officer of the Company, certify, pursuant to 18 U.S.C. § 1350, as adopted pursuant to § 906 of the Sarbanes-Oxley Act of 2002, that to the best of my knowledge:

1.  The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

2.  The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

BY:	/s/ Andrew M. Alexander
	Andrew M. Alexander
	President/Chief Executive Officer

November 6, 2013

EX-32.2

EXHIBIT 32.2

CERTIFICATION OF CHIEF FINANCIAL OFFICER PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of Weingarten Realty Investors (the “Company”) on Form 10-Q for the period ended September 30, 2013, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Stephen C. Richter, Executive Vice President and Chief Financial Officer of the Company, certify, pursuant to 18 U.S.C. § 1350, as adopted pursuant to § 906 of the Sarbanes-Oxley Act of 2002, that to the best of my knowledge:

1.  The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

2.  The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

BY:	/s/ Stephen C. Richter
	Stephen C. Richter
	Executive Vice President/Chief Financial Officer

November 6, 2013

XML

Fair Value Measurements (Quantitative Information About Significant Unobservable Inputs (Level 3) Used) (Details) (USD $)	9 Months Ended		12 Months Ended
	Sep. 30, 2013		Dec. 31, 2012
Significant Unobservable Inputs (Level 3) [Member] | Discounted Cash Flows [Member] | Fixed-Rate Debt [Member] | Minimum [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value Input, Discount Rate	1.20%		1.10%
Significant Unobservable Inputs (Level 3) [Member] | Discounted Cash Flows [Member] | Fixed-Rate Debt [Member] | Maximum [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value Input, Discount Rate	7.20%		6.50%
Significant Unobservable Inputs (Level 3) [Member] | Discounted Cash Flows [Member] | Variable-Rate Debt [Member] | Minimum [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value Input, Discount Rate	0.80%		1.40%
Significant Unobservable Inputs (Level 3) [Member] | Discounted Cash Flows [Member] | Variable-Rate Debt [Member] | Maximum [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value Input, Discount Rate	5.00%		5.00%
Significant Unobservable Inputs (Level 3) [Member] | Discounted Cash Flows [Member] | Notes Receivable From Real Estate Joint Ventures And Partnerships [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value Input, Discount Rate	2.70%		3.00%
Significant Unobservable Inputs (Level 3) [Member] | Discounted Cash Flows [Member] | Tax Increment Revenue Bonds [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value Input, Discount Rate	7.50%		7.50%
Significant Unobservable Inputs (Level 3) [Member] | Discounted Cash Flows [Member] | Tax Increment Revenue Bonds [Member] | Minimum [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value Input, Expected Future Inflation Rate	1.00%		1.00%
Fair Value Input, Expected Future Growth Rate	1.00%		1.00%
Significant Unobservable Inputs (Level 3) [Member] | Discounted Cash Flows [Member] | Tax Increment Revenue Bonds [Member] | Maximum [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value Input, Expected Future Inflation Rate	2.00%		2.00%
Fair Value Input, Expected Future Growth Rate	2.00%		4.00%
Significant Unobservable Inputs (Level 3) [Member] | Discounted Cash Flows [Member] | Impaired Property [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value Input, Discount Rate			10.00%
Fair Value Input, Holding Period (Years)			1 year
Fair Value Input, Expected Future Inflation Rate			3.00%	[1]
Fair Value Input, Market Rent Growth Rate			3.00%	[1]
Fair Value Input, Expense Growth Rate			3.00%	[1]
Fair Value Input, Vacancy Rate			5.00%	[1]
Fair Value Input, Renewal Rate			75.00%	[1]
Fair Value Input, Market Rent Rate			$ 10.52	[1]
Fair Value Input, Leasing Costs Per Square Foot			16.50	[1]
Significant Unobservable Inputs (Level 3) [Member] | Discounted Cash Flows [Member] | Impaired Property [Member] | Minimum [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value Input, Market Capitalization Rate			9.30%
Significant Unobservable Inputs (Level 3) [Member] | Discounted Cash Flows [Member] | Impaired Property [Member] | Maximum [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value Input, Market Capitalization Rate			9.50%
Fair Value, Measurements, Nonrecurring [Member] | Impaired Property [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Property	11,876,000	[2]	19,679,000	[3]
Fair Value, Measurements, Nonrecurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Impaired Property [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Property	8,576,000	[2]	13,906,000	[3]
Fair Value [Member] | Significant Unobservable Inputs (Level 3) [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Notes receivable from real estate joint ventures and partnerships	85,897,000		93,572,000
Tax increment revenue bonds	25,850,000		26,505,000
Fair Value [Member] | Significant Unobservable Inputs (Level 3) [Member] | Fixed-Rate Debt [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Debt	2,055,495,000		2,094,122,000
Fair Value [Member] | Significant Unobservable Inputs (Level 3) [Member] | Variable-Rate Debt [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Debt	$ 289,560,000		$ 223,759,000

[1] Only applies to one property valuation.

[2] In accordance with our policy of evaluating and recording impairments on the disposal of long-lived assets, property with a carrying amount of $14.3 million was written down to a fair value of $11.9 million, resulting in a loss of $2.4 million, which was included in earnings for the period. Management’s estimate of the fair value of these properties was determined using bona fide purchase offer for the Level 2 inputs. See the quantitative information about the significant unobservable inputs used for our Level 3 fair value measurements table below.

[3] In accordance with our policy of evaluating and recording impairments on the disposal of long-lived assets, property with a carrying amount of $22.4 million was written down to a fair value of $19.7 million less costs to sell of $.3 million, resulting in a loss of $3.0 million, which was included in earnings for the period. Management’s estimate of fair value of these properties was determined using a bona fide purchase offer for the Level 2 inputs. See the quantitative information about the significant unobservable inputs used for our Level 3 fair value measurements table below.

XML

Commitments And Contingencies (Narrative) (Details) (USD $) In Millions, unless otherwise specified	1 Months Ended	9 Months Ended		9 Months Ended
	Nov. 30, 2012 jvs	Sep. 30, 2013 partnerships	Dec. 31, 2012	Sep. 30, 2013 Capital Additions [Member]	Sep. 30, 2013 Capital Additions [Member] Minimum [Member]	Sep. 30, 2013 Capital Additions [Member] Maximum [Member]	Sep. 30, 2013 Noncontrolling Interests [Member]	Sep. 30, 2012 Noncontrolling Interests [Member]	Sep. 30, 2013 Consoldiated Real Estate Joint Ventures [Member] jvs	Sep. 30, 2013 Unconsolidated Real Estate Joint Ventures [Member] jvs
Long-term Purchase Commitment [Line Items]
Number of DownREITS		4
Shares issued in exchange for noncontrolling interests							$ 0	$ 0
Aggregate redemption value of interests		46	42
Number of real estate joint ventures	3								1	2
Construction contract commitment				$ 73.3
Construction contract period, months					12	36

XML

Variable Interest Entities (Summary Of Consoldiated Variable Interest Entities) (Details) (Consolidated Variable Interest Entities [Member], USD $) In Thousands, unless otherwise specified	Sep. 30, 2013		Dec. 31, 2012
Consolidated Variable Interest Entities [Member]
Variable Interest Entity [Line Items]
Maximum Risk of Loss	$ 88,000	[1]	$ 111,305	[1]
Assets held by VIEs	236,211		257,374
Assets held as collateral for debt	$ 229,644		$ 246,486

[1] The maximum risk of loss has been determined to be limited to our debt exposure for each real estate joint venture.

XML

Impairment

9 Months Ended

Sep. 30, 2013

Asset Impairment Charges [Abstract]

Impairment

Impairment

The following impairment charges were recorded on the following assets based on the difference between the carrying amount of the assets and the estimated fair value (see Note 19 for additional fair value information) (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2013		2012		2013		2012
Continuing operations:
Land held for development and undeveloped land (1)	$	2,358	$	—	$	2,358	$	—
Property marketed for sale or sold (2)	—		197		56		2,977
Investments in real estate joint ventures and partnerships (3)	—		—		—		6,608
Other	—		—		165		—
Total reported in continuing operations	2,358		197		2,579		9,585
Discontinued operations:
Property held for sale or sold (4)	—		139		236		5,825
Total impairment charges	2,358		336		2,815		15,410
Other financial statement caption impacted by impairment:
Equity in earnings of real estate joint ventures and partnerships, net	29		57		395		19,946
Net impact of impairment charges	$	2,387	$	393	$	3,210	$	35,356

_______________

(1) Impairment was prompted by changes in management's plans for these properties, recent comparable market transactions and/or a change in market conditions.

(2) These charges resulted from changes in management’s plans for these properties, primarily the marketing of these properties for sale. Also included in this caption are impairments associated with dispositions that did not qualify to be reported in discontinued operations.

(3) Amounts reported in 2012 were based on third party offers to buy our interests in industrial real estate joint ventures.

(4) Amounts reported were based on third party offers.

XML

Debt (Narrative) (Details) (USD $)	1 Months Ended	9 Months Ended	12 Months Ended
	Apr. 30, 2003	Sep. 30, 2013	Dec. 31, 2012
Debt Instrument [Line Items]
Debt service guaranty liability		$ 74,075,000	$ 74,075,000
Medium-term notes, matured		113,600,000
Debt interest rate during period		5.60%
Debt instrument collateral		1,300,000,000	1,500,000,000
Unsecured notes payable under credit facilities		114,500,000	66,000,000
Obligations under capital leases		21,000,000	21,000,000
Fair value of interest rate contracts		6,300,000
Debt premium/(discount), net		(2,400,000)
Non-cash debt		2,400,000
Unsecured Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity under credit facility		500,000,000
Credit facility effective date		Apr. 18, 2013
Credit facility extension		provides for two consecutive six-month extensions upon our request
Borrowing margin over LIBOR		115
Facility fees over LIBOR		20
Bids amount		250,000,000
Maximum increase in credit facility amount		700,000,000
Number of credit facility 6-month extensions		2
Debt maturity date		Apr. 18, 2017
Unsecured And Uncommitted Overnight Facility [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity under credit facility		99,000,000
Credit facility effective date		May 01, 2010
Fixed interest rate loan period (days)		30
Debt Service Guaranty [Member]
Debt Instrument [Line Items]
Debt Coverage Ratio		1.4
Debt maturity date		Jan. 01, 2040
3.5% Senior Unsecured Notes [Member]
Debt Instrument [Line Items]
Debt maturity date		Apr. 15, 2023
Senior unsecured notes		300,000,000
Debt stated interest rate		3.50%
Debt issued discount rate		99.53%
Debt effective interest rate		3.56%
Proceeds from issuance of debt		296,600,000
6.75% Series D Preferred Shares [Member]
Debt Instrument [Line Items]
Preferred Shares of Beneficial Interest; redemption value paid		$ 75,000,000
Preferred Shares of Beneficial Interest; dividend percentage	6.75%	6.75%	6.75%

XML

Condensed Consolidated Balance Sheets (Parenthetical) (USD $) In Thousands, except Per Share data, unless otherwise specified	9 Months Ended	12 Months Ended
	Sep. 30, 2013	Dec. 31, 2012
ASSETS
Allowance for doubtful accounts	$ 10,199	$ 12,127
Preferred Shares of Beneficial Interest - par value, $.03 per share; shares authorized: 10,000
Preferred Shares of Beneficial Interest; par value per share	$ 0.03	$ 0.03
Preferred Shares of Beneficial Interest; shares authorized	10,000	10,000
Common Shares of Beneficial Interest - par value, $.03 per share; shares authorized: 275,000; shares issued and outstanding: 121,940 in 2013 and 121,505 in 2012
Common Shares of Beneficial Interest; par value per share	$ 0.03	$ 0.03
Common Shares of Beneficial Interest; shares authorized	275,000	275,000
Common Shares of Beneficial Interest; shares issued	121,940	121,505
Common Shares of Beneficial Interest; shares outstanding	121,940	121,505
6.75% Series D Preferred Shares [Member]
Preferred Shares of Beneficial Interest - par value, $.03 per share; shares authorized: 10,000
Preferred Shares of Beneficial Interest; shares issued	100	100
Preferred Shares of Beneficial Interest; shares outstanding	0	100
Preferred Shares of Beneficial Interest; liquidation preference	0	75,000
Preferred Shares of Beneficial Interest; dividend percentage	6.75%	6.75%
6.5% Series F Preferred Shares [Member]
Preferred Shares of Beneficial Interest - par value, $.03 per share; shares authorized: 10,000
Preferred Shares of Beneficial Interest; shares issued	140	140
Preferred Shares of Beneficial Interest; shares outstanding	60	140
Preferred Shares of Beneficial Interest; liquidation preference	$ 150,000	$ 350,000
Preferred Shares of Beneficial Interest; dividend percentage	6.50%	6.50%

XML

Newly Issued Accounting Pronouncements

9 Months Ended

Sep. 30, 2013

Newly Issued Accounting Pronouncements [Abstract]

Newly Issued Accounting Pronouncements

Newly Issued Accounting Pronouncements

In December 2011, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2011-11, “Disclosures about Offsetting Assets and Liabilities,” which requires entities to provide new disclosures about offsetting and related arrangements for financial instruments and derivatives. The provisions of ASU No. 2011-11 were effective for us on January 1, 2013, and were required to be applied retrospectively. The adoption of this ASU did not materially impact our consolidated financial statements, but required additional disclosures.

In January 2013, the FASB issued ASU No. 2013-01, "Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities," which amends the scope of ASU No. 2011-11 to apply only to entities with derivatives accounted for in accordance with Accounting Standard Code 815. The provisions of ASU No. 2013-01 were effective for us on January 1, 2013, and were required to be applied retrospectively. The adoption of this ASU did not materially impact our consolidated financial statements.

In February 2013, the FASB issued ASU No. 2013-02, “Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income,” which requires an entity to provide information about the amounts reclassified out of accumulated other comprehensive income by component. In addition, an entity is required to present significant amounts reclassified out of accumulated other comprehensive income by respective line items of net income if it is required to be reclassified to net income in its entirety. For other reclassified amounts, an entity is required cross-reference to other disclosures that provide additional detail about those amounts. The provisions of ASU No. 2013-02 were effective for us on January 1, 2013, and have been applied prospectively. The adoption of this ASU did not materially impact our consolidated financial statements, but required additional disclosures.

In February 2013, the FASB issued ASU No. 2013-04, "Obligations Resulting From Joint and Several Liability Arrangements for Which the Total Amount of the Obligation is Fixed at the Reporting Date." This ASU requires an entity to measure obligations resulting from joint and several liability arrangements for which the total amount of the obligation is fixed at the reporting date, as the sum of (1) the amount the reporting entity has agreed to pay in accordance to the arrangement and (2) any additional amounts the reporting entity expects to pay on behalf of its co-obligors. Additional disclosures on the nature and amounts of the obligation will also be required. The provisions of ASU No. 2013-04 are effective for us on January 1, 2014, and are required to be applied retrospectively. We do not expect the adoption of this update to have a material impact on our consolidated financial statements.

In July 2013, the FASB issued ASU No. 2013-11, "Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists." This ASU amends current GAAP to require entities to present an unrecognized tax benefit, or a portion of an unrecognized tax benefit, as a reduction to a deferred tax asset for net operating loss or other tax credit carryforwards when settlement is available under the tax law. The provisions of ASU 2013-11 are effective for us on January 1, 2014, and are required to be applied to all unrecognized tax benefits in existence. Retrospective application may be applied to prior reporting periods presented. We do not expect the adoption of this update to have a material impact on our consolidated financial statements.

XML

Commitments And Contingencies

9 Months Ended

Sep. 30, 2013

Commitments and Contingencies Disclosure [Abstract]

Commitments And Contingencies

Commitments and Contingencies

As of September 30, 2013, we participate in four real estate ventures structured as DownREIT partnerships that have properties in Arkansas, California, North Carolina, Texas and Utah. As a general partner, we have operating and financial control over these ventures and consolidate them in our consolidated financial statements. These ventures allow the outside limited partners to put their interest in the partnership to us in exchange for our common shares or an equivalent amount in cash. We may acquire any limited partnership interests that are put to the partnership, and we have the option to redeem the interest in cash or a fixed number of our common shares, at our discretion. We also participate in a real estate venture that has a property in Texas that allows its outside partner to put operating partnership units to us. We have the option to redeem these units in cash or a fixed number of our common shares, at our discretion. No common shares were issued in exchange for any of these interests during the nine months ended September 30, 2013 and 2012. The aggregate redemption value of these interests was approximately $46 million and $42 million as of September 30, 2013 and December 31, 2012, respectively.

We are subject to numerous federal, state and local environmental laws, ordinances and regulations in the areas where we own or operate properties. We are not aware of any contamination which may have been caused by us or any of our tenants that would have a material effect on our consolidated financial statements.

As part of our risk management activities, we have applied and been accepted into state sponsored environmental programs which will limit our expenses if contaminants need to be remediated. We also have an environmental insurance policy that covers us against third party liabilities and remediation costs.

While we believe that we do not have any material exposure to environmental remediation costs, we cannot give absolute assurance that changes in the law or new discoveries of contamination will not result in additional liabilities to us.

During 2011, we filed a lawsuit against our joint venture partner in connection with a development project in Sheridan, Colorado for failure to perform on the joint venture’s past due intercompany note payable to us, which has been eliminated within our consolidated financial statements. We are also involved in one consolidated and two unconsolidated joint ventures with this partner. Subsequent to September 30, 2013, we completed negotiations with our partner and settled the lawsuit. See Note 20 for additional information.

As of September 30, 2013, we have entered into commitments aggregating $73.3 million comprised principally of construction contracts which are generally due in 12 to 36 months.

We are also involved in various matters of litigation arising in the normal course of business. While we are unable to predict the amounts involved, our management and counsel are of the opinion that, when such litigation is resolved, any additional liability, if any, will not have a material effect on our consolidated financial statements.

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Supplemental Cash Flow Information (Summary Of Non-Cash Investing And Financing Activities)(Details) (USD $) In Thousands, unless otherwise specified	9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012
Noncash or Part Noncash Acquisitions [Line Items]
Accrued property construction costs	$ 9,662	$ 7,454
Property Acquisitions And Investments In Unconsolidated Real Estate Joint Ventures [Member]
Noncash or Part Noncash Acquisitions [Line Items]
Increase (decrease) in property, net	18,698	16,665
Increase (decrease) in notes receivable from real estate joint ventures and partnerships	(3,636)	0
Increase (decrease) in real estate joint ventures and partnerships - investments	(50)	(3,825)
Increase (decrease) in restricted deposits and mortgage escrows	0	395
Increase (decrease) in debt, net	21,396	40,644
Increase (decrease) in security deposits	129	1,332
Increase (decrease) in noncontrolling interests	0	968
Sale Of Property And Property Interest [Member]
Noncash or Part Noncash Acquisitions [Line Items]
Increase (decrease) in property, net	0	(2,855)
Increase (decrease) in real estate joint ventures and partnerships - investments	0	(95)
Increase (decrease) in restricted deposits and mortgage escrows	0	(204)
Increase (decrease) in debt, net	0	(3,366)
Increase (decrease) in security deposits	0	(11)
Increase (decrease) in noncontrolling interests	$ 0	$ (95)

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Debt (Schedule Of Credit Facilities) (Details) (USD $) In Thousands, unless otherwise specified	9 Months Ended	12 Months Ended
	Sep. 30, 2013	Dec. 31, 2012
Line of Credit Facility [Line Items]
Maximum balance outstanding during the period	$ 265,500	$ 303,100
Weighted average balance	79,060	157,447
Year-to-date weighted average interest rate (excluding facility fee)	1.10%	1.30%
Unsecured Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Balance outstanding	100,000	30,000
Available balance	397,821	467,571
Letter of credit outstanding under facility	2,179	2,429
Variable interest rate (excluding facility fee)	0.90%	1.10%
Unsecured And Uncommitted Overnight Facility [Member]
Line of Credit Facility [Line Items]
Balance outstanding	$ 14,500	$ 36,000
Variable interest rate (excluding facility fee)	1.50%	1.50%

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Discontinued Operations

9 Months Ended

Sep. 30, 2013

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

Discontinued Operations

For the nine months ended September 30, 2013, we sold 18 centers of which eight were located in Texas, three in North Carolina, two each in Florida and New Mexico and one each in California, Nevada and Tennessee. As of September 30, 2013, there were no properties classified as held for sale as the potential disposition of assets currently being marketed was not deemed probable.

During 2012, we sold 27 shopping centers, 54 industrial properties, and we assigned a 75% consolidated joint venture interest to our partner. Of these dispositions, 55 were located in Texas, six each in Florida and Georgia, three in North Carolina, two each in Colorado, Louisiana and Virginia and one each in Arizona, Illinois, Kansas, Maine, Oklahoma and Tennessee. As part of these 2012 dispositions, we sold, in May 2012, a portfolio of 52 wholly-owned industrial properties in order to exit the industrial real estate market and further align and strengthen our position solely as a retail REIT. As of December 31, 2012, no properties were classified as held for sale.

Included in the Condensed Consolidated Balance Sheet at December 31, 2012 was $207.5 million of property and $72.0 million of accumulated depreciation related to the 18 centers that were sold during 2013.

The operating results of these centers have been reclassified and reported as discontinued operations in the Condensed Consolidated Statements of Operations and Comprehensive Income as follows (in thousands):

	Three Months Ended September 30,						Nine Months Ended September 30,
	2013			2012			2013			2012
Revenues, net	$	2,043		$	12,141		$	15,795		$	58,299
Depreciation and amortization	(487		)	(2,350		)	(3,869		)	(12,455		)
Operating expenses	(427		)	(2,175		)	(2,973		)	(10,932		)
Real estate taxes, net	(152		)	(1,413		)	(1,414		)	(7,545		)
Impairment loss	—			(139		)	(236		)	(5,825		)
General and administrative	(1		)	(220		)	(13		)	(2,181		)
Interest, net	(434		)	(759		)	(1,373		)	(2,512		)
Provision for income taxes	(148		)	(11		)	(261		)	(386		)
Operating income from discontinued operations	394			5,074			5,656			16,463
Gain on sale of property from discontinued operations	38,214			14,826			116,226			49,724
Income from discontinued operations	$	38,608		$	19,900		$	121,882		$	66,187

We do not allocate other consolidated interest to discontinued operations because the interest savings to be realized from the proceeds of the sale of these operations is not material.

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Subsequent Events Subsequent Events (Narrative) (Details) (USD $)	1 Months Ended	9 Months Ended				9 Months Ended				1 Months Ended			1 Months Ended
	Nov. 30, 2012 jvs	Sep. 30, 2013 sqft	Dec. 31, 2012	Feb. 29, 2012	Sep. 30, 2013 Cash Flow Hedges [Member] Forward-Starting Contracts [Member] contracts	Sep. 30, 2013 Unsecured Revolving Credit Facility [Member]	Sep. 30, 2013 Consoldiated Real Estate Joint Ventures [Member] jvs	Sep. 30, 2013 Unconsolidated Real Estate Joint Ventures [Member] jvs	Dec. 31, 2012 Unconsolidated Real Estate Joint Ventures [Member]	Nov. 06, 2013 Subsequent Event [Member] sqft	Nov. 06, 2013 Subsequent Event [Member] Cash Flow Hedges [Member] Forward-Starting Contracts [Member] contracts	Nov. 06, 2013 Subsequent Event [Member] Unsecured Revolving Credit Facility [Member]	Nov. 06, 2013 Subsequent Event [Member] 4.45% Unsecured Senior Notes [Member]	Nov. 06, 2013 Subsequent Event [Member] Consoldiated Real Estate Joint Ventures [Member] jvs	Nov. 06, 2013 Subsequent Event [Member] Unconsolidated Real Estate Joint Ventures [Member] jvs
Subsequent Event [Line Items]
Gross payments to acquire real estate		$ 73,100,000								$ 85,600,000
Square footage of operating properties		50,400,000								350,000
Notes receivable from real estate joint ventures and partnerships, currently due	16,100,000									16,100,000
Receipt of cash and real property										19,100,000
Noncontrolling interest, increase from settlement										(16,200,000)
Number of real estate joint ventures	3						1	2						2	2
Total assets		4,118,547,000	4,184,784,000					1,382,119,000	1,519,447,000	172,500,000					23,200,000
Ownership percentage in joint ventures			75.00%	47.80%				51.00%		30.00%
Note payable										100,000,000
Senior unsecured notes													250,000,000
Debt stated interest rate													4.45%
Debt maturity date						Apr. 18, 2017							Jan. 15, 2024
Debt issued discount rate													99.58%
Debt effective interest rate													4.50%
Proceeds from issuance of debt													247,300,000
Maximum borrowing capacity under credit facility						500,000,000						500,000,000
Number of active interest rate contracts held					3						3
Notional amount of interest rate cash flow hedge derivatives					150,000,000						150,000,000
Cash received on cash flow hedge											$ 6,100,000

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Property (Schedule Of Property) (Details) (USD $) In Thousands, unless otherwise specified	Sep. 30, 2013	Dec. 31, 2012
Real Estate Investment Property [Line Items]
Land	$ 878,652	$ 881,156
Land held for development	118,334	121,294
Land under development	4,222	6,155
Buildings and improvements	3,235,883	3,325,793
Construction in-progress	71,758	65,452
Total	$ 4,308,849	$ 4,399,850

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Business Combinations (Narrative) (Details)	9 Months Ended				12 Months Ended
	Sep. 30, 2013 property	Dec. 31, 2012	Feb. 29, 2012	Aug. 06, 2012 Tenancy In Common [Member]	Dec. 31, 2012 Shopping Center [Member] property
Business Acquisition [Line Items]
Number of operating properties acquired	2				4
Ownership percentage in joint ventures		75.00%	47.80%	79.60%

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Debt (Principal Payments Of Debt) (Details) (USD $)	9 Months Ended
	Sep. 30, 2013
Debt Instrument [Line Items]
2013 remaining	$ 65,727,000
2014	468,858,000
2015	275,998,000
2016	249,283,000
2017	141,864,000
2018	64,157,000
2019	153,380,000	[1]
2020	3,342,000
2021	2,278,000
2022	304,815,000
Thereafter	348,264,000
Total	2,077,966,000
8.1% Senior Unsecured Notes [Member]
Debt Instrument [Line Items]
Senior unsecured notes	$ 100,000,000
Debt stated interest rate	8.10%
Debt maturity date	Sep. 15, 2019
Debt redemption date option	9/15/2014

[1] Includes $100 million of our 8.1% senior unsecured notes due 2019 which may be redeemed by us at any time on or after September 2014 at our option.

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Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2013

Earnings Per Share [Abstract]

Components of Earnings Per Share - Basic and Diluted

Earnings per common share – basic and diluted components for the periods indicated are as follows (in thousands):

	Three Months Ended September 30,						Nine Months Ended September 30,
	2013			2012			2013			2012
Numerator:
Continuing Operations:
Income from continuing operations	$	23,618		$	21,812		$	88,932		$	30,400
Gain on sale of property	163			335			570			859
Net income attributable to noncontrolling interests	(1,948		)	(1,505		)	(4,000		)	(3,726		)
Dividends on preferred shares	(2,710		)	(8,869		)	(15,463		)	(26,607		)
Redemption costs of preferred shares	—			—			(17,944		)	—
Income from continuing operations attributable to common shareholders – basic and diluted	$	19,123		$	11,773		$	52,095		$	926
Discontinued Operations:
Income from discontinued operations	$	38,608		$	19,900		$	121,882		$	66,187
Net loss (income) attributable to noncontrolling interests	101			(269		)	(37,056		)	(831		)
Income from discontinued operations attributable to common shareholders – basic and diluted	$	38,709		$	19,631		$	84,826		$	65,356
Denominator:
Weighted average shares outstanding - basic	121,359			120,766			121,235			120,637
Effect of dilutive securities:
Share options and awards	1,172			1,078			1,206			1,016
Weighted average shares outstanding - diluted	122,531			121,844			122,441			121,653

Schedule Of Anti-Dilutive Securities

Anti-dilutive securities of our common shares, which are excluded from the calculation of earnings per common share – diluted, are as follows (in thousands):

	Three Months Ended September 30,		Nine Months Ended September 30,
	2013	2012	2013	2012
Share options (1)	1,929	2,359	1,929	2,359
Operating partnership units	1,555	1,582	1,555	1,583
Total anti-dilutive securities	3,484	3,941	3,484	3,942

_______________

(1) Exclusion results as exercise prices were greater than the average market price for each respective period.

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Fair Value Measurements

9 Months Ended

Sep. 30, 2013

Fair Value Disclosures [Abstract]

Fair Value Measurements

Fair Value Measurements

Recurring Fair Value Measurements:

Assets and liabilities measured at fair value on a recurring basis as of September 30, 2013 and December 31, 2012, aggregated by the level in the fair value hierarchy in which those measurements fall, are as follows (in thousands):

	Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Fair Value at September 30, 2013
Assets:
Investments, grantor trusts	$	17,757					$	17,757
Investments, mutual funds	7,034						7,034
Derivative instruments:
Interest rate contracts			$	12,844			12,844
Total	$	24,791	$	12,844	$	—	$	37,635
Liabilities:
Derivative instruments:
Interest rate contracts			$	537			$	537
Deferred compensation plan obligations	$	17,757					17,757
Total	$	17,757	$	537	$	—	$	18,294
	Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Fair Value at December 31, 2012
Assets:
Investments, grantor trusts	$	16,030					$	16,030
Derivative instruments:
Interest rate contracts			$	9,926			9,926
Total	$	16,030	$	9,926	$	—	$	25,956
Liabilities:
Derivative instruments:
Interest rate contracts			$	768			$	768
Deferred compensation plan obligations	$	16,030					16,030
Total	$	16,030	$	768	$	—	$	16,798

Nonrecurring Fair Value Measurements:

Property Impairments

Property is reviewed for impairment if events or changes in circumstances indicate that the carrying amount of the property, including any identifiable intangible assets, site costs and capitalized interest, may not be recoverable. In such an event, a comparison is made of the current and projected operating cash flows of each such property into the foreseeable future on an undiscounted basis to the carrying amount of such property. If we conclude that an impairment may have occurred, estimated fair values are determined by management utilizing cash flow models, market capitalization rates and market discount rates, or by obtaining third-party broker valuation estimates, appraisals, bona fide purchase offers or the expected sales price of an executed sales agreement in accordance with our fair value measurements accounting policy. Market capitalization rates and market discount rates are determined by reviewing current sales of similar properties and transactions, and utilizing management’s knowledge and expertise in property marketing.

Investments in Real Estate Joint Ventures and Partnerships Impairments

The fair value of our investment in partially owned real estate joint ventures and partnerships is estimated by management based on a number of factors, including the performance of each investment, the life and other terms of the investment, holding periods, market conditions, cash flow models, market capitalization rates and market discount rates, or by obtaining third-party broker valuation estimates, appraisals and bona fide purchase offers in accordance with our fair value measurements accounting policy. Market capitalization rates and market discount rates are determined by reviewing current sales of similar properties and transactions, and utilizing management’s knowledge and expertise in property marketing. We recognize an impairment loss if we determine the fair value of an investment is less than its carrying amount and that loss in value is other than temporary.

Assets measured at fair value on a nonrecurring basis at September 30, 2013, aggregated by the level in the fair value hierarchy in which those measurements fall, are as follows (in thousands):

	Quoted Prices  in Active  Markets for Identical  Assets and Liabilities (Level 1)		Significant  Other Observable  Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Fair Value		Total Gains (Losses) (1)
Property (2)			$	3,300	$	8,576	$	11,876	$	(2,358	)
Total	$	—	$	3,300	$	8,576	$	11,876	$	(2,358	)

_______________

(1) Total gains (losses) exclude impairments on disposed assets because they are no longer held by us.

(2) In accordance with our policy of evaluating and recording impairments on the disposal of long-lived assets, property with a carrying amount of $14.3 million was written down to a fair value of $11.9 million, resulting in a loss of $2.4 million, which was included in earnings for the period. Management’s estimate of the fair value of these properties was determined using bona fide purchase offer for the Level 2 inputs. See the quantitative information about the significant unobservable inputs used for our Level 3 fair value measurements table below.

Assets measured at fair value on a nonrecurring basis at December 31, 2012, aggregated by the level in the fair value hierarchy in which those measurements fall, are as follows (in thousands):

	Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Fair Value		Total Gains (Losses) (1)
Property (2)			$	5,773	$	13,906	$	19,679	$	(2,971	)
Investment in real estate joint ventures and partnerships (3)			24,231				24,231		(6,608		)
Total	$	—	$	30,004	$	13,906	$	43,910	$	(9,579	)

_______________

(1) Total gains (losses) are reflected throughout 2012 and exclude impairments on disposed assets because they are no longer held by us.

(2) In accordance with our policy of evaluating and recording impairments on the disposal of long-lived assets, property with a carrying amount of $22.4 million was written down to a fair value of $19.7 million less costs to sell of $.3 million, resulting in a loss of $3.0 million, which was included in earnings for the period. Management’s estimate of fair value of these properties was determined using a bona fide purchase offer for the Level 2 inputs. See the quantitative information about the significant unobservable inputs used for our Level 3 fair value measurements table below.

(3) Our net investment in real estate joint ventures and partnerships with a carrying amount of $30.8 million was written down to a fair value of $24.2 million, resulting in a loss of $6.6 million, which was included in earnings for the period. Management’s estimate of fair value of this investment was determined using the weighted average of the bona fide purchase offers received for the Level 2 inputs.

Fair Value Disclosures:

Unless otherwise described below, short-term financial instruments and receivables are carried at amounts which approximate their fair values based on their highly-liquid nature, short-term maturities and/or expected interest rates for similar instruments.

Schedule of our fair value disclosures is as follows (in thousands):

	September 30, 2013				December 31, 2012
	Carrying Value		Fair Value Using Significant Unobservable Inputs (Level 3)		Carrying Value		Fair Value Using Significant Unobservable Inputs (Level 3)
Notes receivable from real estate joint ventures and partnerships	$	84,142	$	85,897	$	89,776	$	93,572
Tax increment revenue bonds	25,850		25,850		26,505		26,505
Debt:
Fixed-rate debt	2,013,253		2,055,495		1,992,599		2,094,122
Variable-rate debt	280,645		289,560		211,431		223,759

The quantitative information about the significant unobservable inputs used for our Level 3 fair value measurements as of September 30, 2013 and December 31, 2012 reported in the above tables, is as follows:

Description	Fair Value at					Unobservable Inputs	Range
	September 30, 2013		December 31, 2012				Minimum				Maximum
	(in thousands)				Valuation Technique		2013		2012		2013		2012
Property	$	8,576	$	13,906	Broker valuation estimate	Indicative bid (1)
					Bona fide purchase offers	Contract price (1)
					Discounted cash flows	Discount rate							10.0		%
						Capitalization rate			9.3	%			9.5		%
						Holding period (years)							1
						Expected future inflation rate (2)							3.0		%
						Market rent growth rate (2)							3.0		%
						Expense growth rate (2)							3.0		%
						Vacancy rate (2)							5.0		%
						Renewal rate (2)							75.0		%
						Average market rent rate (2)							$	10.52
						Average leasing cost per square foot (2)							$	16.50
Notes receivable from real estate joint ventures and partnerships	85,897		93,572		Discounted cash flows	Discount rate					2.7	%	3.0		%
Tax increment revenue bonds	25,850		26,505		Discounted cash flows	Discount rate					7.5	%	7.5		%
						Expected future growth rate	1.0	%	1.0	%	2.0	%	4.0		%
						Expected future inflation rate	1.0	%	1.0	%	2.0	%	2.0		%
Fixed-rate debt	2,055,495		2,094,122		Discounted cash flows	Discount rate	1.2	%	1.1	%	7.2	%	6.5		%
Variable-rate debt	289,560		223,759		Discounted cash flows	Discount rate	.8	%	1.4	%	5.0	%	5.0		%

_______________

(1) These fair values were developed by third parties, subject to our corroboration for reasonableness.

(2) Only applies to one property valuation.

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Business Combinations

9 Months Ended

Sep. 30, 2013

Business Combinations [Abstract]

Business Combinations

Business Combinations

During 2012, we acquired four shopping centers located in California, Georgia, Maryland and Texas, and we consolidated a partner's 79.6% interest in an unconsolidated tenancy-in-common arrangement related to a property in Louisiana. The following table summarizes the transactions related to these acquisitions, including the assets acquired and liabilities assumed as indicated (in thousands):

	December 31, 2012
Fair value of our equity interest before acquisition	$	3,825
Fair value of consideration transferred	218,481			(1)
Amounts recognized for assets and liabilities assumed:
Assets:
Property	$	195,377
Unamortized debt and lease costs	36,787
Restricted deposits and mortgage escrows	395
Other, net	3,742
Liabilities:
Debt, net	(46,923		)	(2)
Accounts payable and accrued expenses	(2,250		)
Other, net	(5,899		)
Total net assets	$	181,229
Acquisition costs (included in operating expenses)	$	1,391
Gain on acquisition	1,869

_______________

(1) Includes assumption of debt totaling $37.8 million.

(2) Represents the fair value of debt, which includes $6.3 million that was previously recorded.

The following table summarizes the pro forma impact of these transactions as if they had been consolidated or acquired on January 1, 2012, the earliest year presented, as follows (in thousands, except per share amounts):

	Pro Forma (1)
	Three Months Ended September 30, 2012		Nine Months Ended September 30, 2012
Revenues	$	123,544	$	360,501
Net income	42,041		97,052
Net income attributable to common shareholders	31,398		65,888
Earnings per share – basic	0.26		0.55
Earnings per share – diluted	0.26		0.54

_______________

(1) There are no non-recurring pro forma adjustments included within or excluded from the amounts in the preceding table.

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Summary Of Significant Accounting Policies (Schedule Of Accumulated Other Comprehensive Loss) (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013		Sep. 30, 2012
Increase (Decrease) In Accumulated Other Comprehensive Loss [Roll Forward]
Balance, December 31, 2012			$ 24,743
Change excluding amounts reclassified from accumulated other comprehensive income			(6,804)
Amounts reclassified from accumulated other comprehensive income			(2,792)
Net other comprehensive income	(517)	(615)	(9,596)		(1,804)
Balance, September 30, 2013	15,147		15,147
Loss On Investments [Member]
Increase (Decrease) In Accumulated Other Comprehensive Loss [Roll Forward]
Balance, December 31, 2012			0
Change excluding amounts reclassified from accumulated other comprehensive income			34
Amounts reclassified from accumulated other comprehensive income			0
Net other comprehensive income			34
Balance, September 30, 2013	34		34
(Gain) Loss On Cash Flow Hedges [Member]
Increase (Decrease) In Accumulated Other Comprehensive Loss [Roll Forward]
Balance, December 31, 2012			7,489
Change excluding amounts reclassified from accumulated other comprehensive income			(6,735)
Amounts reclassified from accumulated other comprehensive income			(1,802)	[1]
Net other comprehensive income			(8,537)
Balance, September 30, 2013	(1,048)		(1,048)
Defined Benefit Pension Plan [Member]
Increase (Decrease) In Accumulated Other Comprehensive Loss [Roll Forward]
Balance, December 31, 2012			17,254
Change excluding amounts reclassified from accumulated other comprehensive income			(103)
Amounts reclassified from accumulated other comprehensive income			(990)	[2]
Net other comprehensive income			(1,093)
Balance, September 30, 2013	$ 16,161		$ 16,161

[1] This reclassification component is included in interest expense (see Note 7 for additional information).

[2] This reclassification component is included in the computation of net periodic benefit cost (see Note 14 for additional information).

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Derivatives And Hedging (Tables)

9 Months Ended

Sep. 30, 2013

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule Of Interest Rate Contracts Reported At Fair Value

The fair value of all our interest rate contracts is reported as follows (in thousands):

	Assets			Liabilities
	Balance Sheet Location	Amount		Balance Sheet Location	Amount
Designated Hedges:
September 30, 2013	Other Assets, net	$	12,844	Other Liabilities, net	$	537
December 31, 2012	Other Assets, net	9,926		Other Liabilities, net	768

Offsetting Of Derivative Assets And Liabilities

The gross presentation, the effects of offsetting under master netting agreements and the net presentation of our interest rate contracts is as follows (in thousands):

							Gross Amounts Not Offset in Balance Sheet
	Gross Amounts Recognized		Gross Amounts Offset in Balance Sheet		Net Amounts Presented in Balance Sheet		Financial Instruments		Cash Collateral Received		Net Amount
September 30, 2013
Assets	$	12,844	$	—	$	12,844	$	—	$	—	$	12,844
Liabilities	537		—		537		—		—		537
December 31, 2012
Assets	9,926		—		9,926		—		—		9,926
Liabilities	768		—		768		—		—		768

Summary Of Cash Flow Interest Rate Contract Hedging Activity

A summary of cash flow interest rate contract hedging activity is as follows (in thousands):

Derivatives Hedging Relationships	Amount of (Gain) Loss  Recognized in Other Comprehensive Income on Derivative  (Effective Portion)			Location of Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Income	Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Income (Effective Portion)			Location of Gain (Loss) Recognized in Income on Derivative (Ineffective Portion and Amount  Excluded from Effectiveness Testing)	Amount of Gain (Loss) Recognized in Income on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing)
Three Months Ended September 30, 2013	$	293		Interest expense, net	$	(669	)	Interest expense, net	$	189
Nine Months Ended September 30, 2013	(6,735		)	Interest expense, net	(1,991		)	Interest expense, net	189
Three Months Ended September 30, 2012	49			Interest expense, net	(664		)	Interest expense, net	—
Nine Months Ended September 30, 2012	181			Interest expense, net	(1,985		)	Interest expense, net	—

Summary Of Fair Value Interest Rate Contracts Activity

A summary of the impact on net income for our interest rate contracts is as follows (in thousands):

	Gain (Loss)  on Contracts			Gain (Loss)  on Borrowings			Net Settlements and Accruals on Contracts		Amount of Gain  (Loss) Recognized in Income (1)
Three Months Ended September 30, 2013
Interest expense, net	$	(482	)	$	482		$	1,015	$	1,015
Nine Months Ended September 30, 2013
Interest expense, net	(3,586		)	3,586			3,065		3,065
Three Months Ended September 30, 2012
Interest expense, net	3			(3		)	1,001		1,001
Nine Months Ended September 30, 2012
Interest expense, net	64			(64		)	3,001		3,001

_______________

(1) No ineffectiveness was recognized during the respective period.

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Employee Benefit Plans (Tables)

9 Months Ended

Sep. 30, 2013

Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract]

Schedule Of Net Periodic Benefit Cost

The components of net periodic benefit cost for this plan are as follows (in thousands):

	Three Months Ended September 30,						Nine Months Ended September 30,
	2013			2012			2013			2012
Service cost	$	285		$	266		$	993		$	1,048
Interest cost	344			319			1,197			1,257
Expected return on plan assets	(545		)	(453		)	(1,898		)	(1,787		)
Prior service cost	—			(24		)	—			(94		)
Recognized loss	284			317			990			1,251
Total	$	368		$	425		$	1,282		$	1,675

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Investment In Real Estate Joint Ventures And Partnerships (Narrative) (Details) (USD $)	1 Months Ended		3 Months Ended		9 Months Ended					3 Months Ended		9 Months Ended						0 Months Ended	9 Months Ended		12 Months Ended	9 Months Ended
	Nov. 30, 2012 jvs	Feb. 29, 2012	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013 property	Sep. 30, 2012	Dec. 31, 2012	Nov. 30, 2012 Minimum [Member]	Nov. 30, 2012 Maximum [Member]	Sep. 30, 2013 Unconsolidated Real Estate Joint Ventures [Member]	Sep. 30, 2012 Unconsolidated Real Estate Joint Ventures [Member]	Sep. 30, 2013 Unconsolidated Real Estate Joint Ventures [Member] property jvs	Sep. 30, 2012 Unconsolidated Real Estate Joint Ventures [Member]	Sep. 30, 2013 Unconsolidated Real Estate Joint Ventures [Member] Minimum [Member]	Dec. 31, 2012 Unconsolidated Real Estate Joint Ventures [Member] Minimum [Member]	Sep. 30, 2013 Unconsolidated Real Estate Joint Ventures [Member] Maximum [Member]	Dec. 31, 2012 Unconsolidated Real Estate Joint Ventures [Member] Maximum [Member]	Aug. 06, 2012 Tenancy In Common [Member]	Sep. 30, 2013 Tenancy In Common [Member] jvs	Sep. 30, 2013 Industrial Properties [Member] Unconsolidated Real Estate Joint Ventures [Member] property	Dec. 31, 2012 Industrial Properties [Member] Unconsolidated Real Estate Joint Ventures [Member] property	Sep. 30, 2013 Shopping Centers [Member] Unconsolidated Real Estate Joint Ventures [Member] property
Investment In Real Estate Joint Ventures And Partnerships [Line Items]
Ownership percentage in joint ventures		47.80%					75.00%	20.00%	50.00%	51.00%		51.00%		20.00%	10.00%	75.00%	75.00%	79.60%	10.00%
Number of real estate joint ventures	3											2							2
Net basis differentials for investments			$ 5,900,000		$ 5,900,000		$ 1,600,000
Impairment loss			2,358,000	197,000	2,579,000	9,585,000				59,000	283,000	1,887,000	96,781,000
Management fees revenue, related parties			1,200,000	1,500,000	3,800,000	4,800,000
Number of operating properties sold					18							4								2	19	2
Gain on sale of real estate joint venture and partnership interests	8,600,000	3,500,000	7,000	0	11,599,000	5,562,000														11,500,000
Acquisition of unconsolidated real estate joint venture interests												16,500,000						29,600,000
Assumption of debt																		24,500,000
Proceeds from sale of unconsolidated real estate joint venture, gross	$ 20,900,000	$ 29,100,000										$ 11,700,000							$ 8,900,000		$ 210,400,000

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Property (Tables)

9 Months Ended

Sep. 30, 2013

Real Estate [Abstract]

Schedule Of Property

Our property consists of the following (in thousands):

	September 30, 2013		December 31, 2012
Land	$	878,652	$	881,156
Land held for development	118,334		121,294
Land under development	4,222		6,155
Buildings and improvements	3,235,883		3,325,793
Construction in-progress	71,758		65,452
Total	$	4,308,849	$	4,399,850

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Impairment (Schedule Of Impairment Charges)(Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended				9 Months Ended
	Sep. 30, 2013		Sep. 30, 2012		Sep. 30, 2013		Sep. 30, 2012
Asset Impairment [Line Items]
Other	$ 0		$ 0		$ 165		$ 0
Total reported in continuing operations	2,358		197		2,579		9,585
Total impairment charges	2,358		336		2,815		15,410
Equity in earnings of real estate joint ventures and partnerships, net	5,125		4,905		14,467		(6,715)
Net impact of impairment charges	2,387		393		3,210		35,356
Land Held For Development And Undeveloped Land [Member]
Asset Impairment [Line Items]
Impairment losses related to property	2,358	[1]	0	[1]	2,358	[1]	0	[1]
Property Marketed For Sale Or Sold [Member]
Asset Impairment [Line Items]
Impairment losses related to property	0	[2]	197	[2]	56	[2]	2,977	[2]
Investments In Real Estate Joint Ventures And Partnerships [Member]
Asset Impairment [Line Items]
Impairment losses related to partially owned real estate joint ventures and partnerships	0	[3]	0	[3]	0	[3]	6,608	[3]
Property Held For Sale Or Sold [Member]
Asset Impairment [Line Items]
Impairment losses related to property	0	[4]	139	[4]	236	[4]	5,825	[4]
Impairment Charges On Equity In Earnings Of Real Estate Joint Ventures And Partnerships, Net [Member]
Asset Impairment [Line Items]
Equity in earnings of real estate joint ventures and partnerships, net	$ 29		$ 57		$ 395		$ 19,946

[1] Impairment was prompted by changes in management's plans for these properties, recent comparable market transactions and/or a change in market conditions.

[2] These charges resulted from changes in management’s plans for these properties, primarily the marketing of these properties for sale. Also included in this caption are impairments associated with dispositions that did not qualify to be reported in discontinued operations.

[3] Amounts reported in 2012 were based on third party offers to buy our interests in industrial real estate joint ventures.

[4] Amounts reported were based on third party offers.

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Share Options And Awards (Status Of Unvested Restricted Share Awards) (Details) (USD $)	9 Months Ended
	Sep. 30, 2013
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Unvested Restricted Share Awards, Outstanding, January 1, 2013	496,571
Unvested Restricted Share Awards, Vested	(130,136)
Unvested Restricted Share Awards, Forfeited	(6,904)
Unvested Restricted Share Awards, Outstanding, September 30, 2013	576,770
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Weighted Average Grant Date Fair Value, Outstanding, January 1, 2013	$ 23.10
Weighted Average Grant Date Fair Value, Vested	$ 23.19
Weighted Average Grant Date Fair Value, Forfeited	$ 26.65
Weighted Average Grant Date Fair Value, Outstanding, September 30, 2013	$ 26.54
Service-Based Share Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Unvested Restricted Share Awards, Granted	102,456
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Weighted Average Grant Date Fair Value, Granted	$ 29.71
Market-Based Share Awards Relative To FTSE NAREIT U.S. Shopping Center Index [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Unvested Restricted Share Awards, Granted	44,580
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Weighted Average Grant Date Fair Value, Granted	$ 31.83
Market-Based Awards Relative To Three-Year Absolute Total Shareholder Return [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Unvested Restricted Share Awards, Granted	44,580
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Weighted Average Grant Date Fair Value, Granted	$ 37.49
Trust Manager Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Unvested Restricted Share Awards, Granted	25,623
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Weighted Average Grant Date Fair Value, Granted	$ 35.23

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Preferred Shares Of Beneficial Interest (Narrative) (Details) (USD $)	3 Months Ended		9 Months Ended		1 Months Ended	9 Months Ended	12 Months Ended	0 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Apr. 30, 2003 6.75% Series D Preferred Shares [Member]	Sep. 30, 2013 6.75% Series D Preferred Shares [Member]	Dec. 31, 2012 6.75% Series D Preferred Shares [Member]	Jun. 06, 2008 6.5% Series F Preferred Shares [Member]	Sep. 30, 2013 6.5% Series F Preferred Shares [Member]	Dec. 31, 2012 6.5% Series F Preferred Shares [Member]	Jan. 30, 2007 6.5% Series F Preferred Shares [Member]	Sep. 30, 2013 6.5% Series F Preferred Shares [Member] Preferred Shares Issued At Discount [Member]
Class of Stock [Line Items]
Preferred Shares of Beneficial Interest - value					$ 75,000,000	$ 0	$ 3,000	$ 150,000,000	$ 2,000	$ 4,000	$ 200,000,000
Preferred Shares of Beneficial Interest; depositary shares, conversion basis					0.0333				0.01
Preferred Shares of Beneficial Interest; redemption price per depositary share						$ 25			$ 25
Preferred Shares of Beneficial Interest; redemption date						Mar. 18, 2013			Jun. 05, 2013
Preferred Shares of Beneficial Interest; redemption value paid						75,000,000			200,000,000
Redemption costs of preferred shares	0	0	17,944,000	0		2,200,000			15,700,000
Preferred Shares of Beneficial Interest; liquidation preference						$ 0	$ 75,000,000		$ 150,000,000	$ 350,000,000		$ 64,300,000
Preferred Shares of Beneficial Interest; dividend percentage					6.75%	6.75%	6.75%		6.50%	6.50%
Effective dividend yield on preferred shares								8.25%
Preferred Shares of Beneficial Interest; liquidation value per share					$ 750				$ 2,500

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Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2013

Fair Value Disclosures [Abstract]

Assets And Liabilities Measured On Recurring Basis

Assets and liabilities measured at fair value on a recurring basis as of September 30, 2013 and December 31, 2012, aggregated by the level in the fair value hierarchy in which those measurements fall, are as follows (in thousands):

	Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Fair Value at September 30, 2013
Assets:
Investments, grantor trusts	$	17,757					$	17,757
Investments, mutual funds	7,034						7,034
Derivative instruments:
Interest rate contracts			$	12,844			12,844
Total	$	24,791	$	12,844	$	—	$	37,635
Liabilities:
Derivative instruments:
Interest rate contracts			$	537			$	537
Deferred compensation plan obligations	$	17,757					17,757
Total	$	17,757	$	537	$	—	$	18,294
	Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Fair Value at December 31, 2012
Assets:
Investments, grantor trusts	$	16,030					$	16,030
Derivative instruments:
Interest rate contracts			$	9,926			9,926
Total	$	16,030	$	9,926	$	—	$	25,956
Liabilities:
Derivative instruments:
Interest rate contracts			$	768			$	768
Deferred compensation plan obligations	$	16,030					16,030
Total	$	16,030	$	768	$	—	$	16,798

Assets Measured On Nonrecurring Basis

Assets measured at fair value on a nonrecurring basis at September 30, 2013, aggregated by the level in the fair value hierarchy in which those measurements fall, are as follows (in thousands):

	Quoted Prices  in Active  Markets for Identical  Assets and Liabilities (Level 1)		Significant  Other Observable  Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Fair Value		Total Gains (Losses) (1)
Property (2)			$	3,300	$	8,576	$	11,876	$	(2,358	)
Total	$	—	$	3,300	$	8,576	$	11,876	$	(2,358	)

_______________

(1) Total gains (losses) exclude impairments on disposed assets because they are no longer held by us.

(2) In accordance with our policy of evaluating and recording impairments on the disposal of long-lived assets, property with a carrying amount of $14.3 million was written down to a fair value of $11.9 million, resulting in a loss of $2.4 million, which was included in earnings for the period. Management’s estimate of the fair value of these properties was determined using bona fide purchase offer for the Level 2 inputs. See the quantitative information about the significant unobservable inputs used for our Level 3 fair value measurements table below.

Assets measured at fair value on a nonrecurring basis at December 31, 2012, aggregated by the level in the fair value hierarchy in which those measurements fall, are as follows (in thousands):

	Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Fair Value		Total Gains (Losses) (1)
Property (2)			$	5,773	$	13,906	$	19,679	$	(2,971	)
Investment in real estate joint ventures and partnerships (3)			24,231				24,231		(6,608		)
Total	$	—	$	30,004	$	13,906	$	43,910	$	(9,579	)

_______________

(1) Total gains (losses) are reflected throughout 2012 and exclude impairments on disposed assets because they are no longer held by us.

(2) In accordance with our policy of evaluating and recording impairments on the disposal of long-lived assets, property with a carrying amount of $22.4 million was written down to a fair value of $19.7 million less costs to sell of $.3 million, resulting in a loss of $3.0 million, which was included in earnings for the period. Management’s estimate of fair value of these properties was determined using a bona fide purchase offer for the Level 2 inputs. See the quantitative information about the significant unobservable inputs used for our Level 3 fair value measurements table below.

(3) Our net investment in real estate joint ventures and partnerships with a carrying amount of $30.8 million was written down to a fair value of $24.2 million, resulting in a loss of $6.6 million, which was included in earnings for the period. Management’s estimate of fair value of this investment was determined using the weighted average of the bona fide purchase offers received for the Level 2 inputs.

Schedule Of Fair Value Disclosures

Schedule of our fair value disclosures is as follows (in thousands):

	September 30, 2013				December 31, 2012
	Carrying Value		Fair Value Using Significant Unobservable Inputs (Level 3)		Carrying Value		Fair Value Using Significant Unobservable Inputs (Level 3)
Notes receivable from real estate joint ventures and partnerships	$	84,142	$	85,897	$	89,776	$	93,572
Tax increment revenue bonds	25,850		25,850		26,505		26,505
Debt:
Fixed-rate debt	2,013,253		2,055,495		1,992,599		2,094,122
Variable-rate debt	280,645		289,560		211,431		223,759

Quantitative Information About Significant Unobservable Inputs (Level 3) Used

The quantitative information about the significant unobservable inputs used for our Level 3 fair value measurements as of September 30, 2013 and December 31, 2012 reported in the above tables, is as follows:

Description	Fair Value at					Unobservable Inputs	Range
	September 30, 2013		December 31, 2012				Minimum				Maximum
	(in thousands)				Valuation Technique		2013		2012		2013		2012
Property	$	8,576	$	13,906	Broker valuation estimate	Indicative bid (1)
					Bona fide purchase offers	Contract price (1)
					Discounted cash flows	Discount rate							10.0		%
						Capitalization rate			9.3	%			9.5		%
						Holding period (years)							1
						Expected future inflation rate (2)							3.0		%
						Market rent growth rate (2)							3.0		%
						Expense growth rate (2)							3.0		%
						Vacancy rate (2)							5.0		%
						Renewal rate (2)							75.0		%
						Average market rent rate (2)							$	10.52
						Average leasing cost per square foot (2)							$	16.50
Notes receivable from real estate joint ventures and partnerships	85,897		93,572		Discounted cash flows	Discount rate					2.7	%	3.0		%
Tax increment revenue bonds	25,850		26,505		Discounted cash flows	Discount rate					7.5	%	7.5		%
						Expected future growth rate	1.0	%	1.0	%	2.0	%	4.0		%
						Expected future inflation rate	1.0	%	1.0	%	2.0	%	2.0		%
Fixed-rate debt	2,055,495		2,094,122		Discounted cash flows	Discount rate	1.2	%	1.1	%	7.2	%	6.5		%
Variable-rate debt	289,560		223,759		Discounted cash flows	Discount rate	.8	%	1.4	%	5.0	%	5.0		%

_______________

(1) These fair values were developed by third parties, subject to our corroboration for reasonableness.

(2) Only applies to one property valuation.

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Earnings Per Share (Schedule Of Anti-Dilutive Securities) (Details) In Thousands, unless otherwise specified	3 Months Ended				9 Months Ended
	Sep. 30, 2013		Sep. 30, 2012		Sep. 30, 2013		Sep. 30, 2012
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total anti-dilutive securities	3,484		3,941		3,484		3,942
Share Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total anti-dilutive securities	1,929	[1]	2,359	[1]	1,929	[1]	2,359	[1]
Operating Partnership Units [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total anti-dilutive securities	1,555		1,582		1,555		1,583

[1] Exclusion results as exercise prices were greater than the average market price for each respective period.

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Variable Interest Entities

9 Months Ended

Sep. 30, 2013

Variable Interest Entities [Abstract]

Variable Interest Entities

Variable Interest Entities

Consolidated VIEs:

Two of our real estate joint ventures whose activities principally consist of owning and operating 28 neighborhood/community shopping centers in 2013 and 30 shopping centers in 2012, located in Florida, Georgia, North Carolina, Tennessee and Texas, were determined to be VIEs. Based on financing agreements that are guaranteed solely by us, we have determined that we are the primary beneficiary in both instances and have consolidated these joint ventures.

A summary of our consolidated VIEs is as follows (in thousands):

	September 30, 2013		December 31, 2012
Maximum Risk of Loss (1)	$	88,000	$	111,305
Assets held by VIEs	236,211		257,374
Assets held as collateral for debt	229,644		246,486

_______________

(1) The maximum risk of loss has been determined to be limited to our debt exposure for each real estate joint venture.

Restrictions on the use of these assets are significant because they serve as collateral for the VIEs’ debt, and we would generally be required to obtain our partners’ approval in accordance with the joint venture agreements for any major transactions. Transactions with these joint ventures on our consolidated financial statements have been limited to changes in noncontrolling interests and reductions in debt from our partners’ contributions. We and our partners are subject to the provisions of the joint venture agreements which include provisions for when additional contributions may be required to fund operating cash shortfalls and unplanned capital expenditures.

Unconsolidated VIEs:

At September 30, 2013 and December 31, 2012, one and two unconsolidated real estate joint ventures, respectively, were determined to be a VIEs through the issuance of secured loans, since the lenders had the ability to make decisions that could have a significant impact on the success of the entities. A summary of our unconsolidated VIEs is as follows (in thousands):

	September 30, 2013		December 31, 2012
Investment in Real Estate Joint Ventures and Partnerships, net (1)	$	11,502	$	29,628
Maximum Risk of Loss (2)	11,679		32,990

_______________

(1) The carrying amount of the investments represents our contributions to the real estate joint ventures, net of any distributions made and our portion of the equity in earnings of the joint ventures.

(2) The maximum risk of loss has been determined to be limited to our debt exposure for each real estate joint venture. The maximum risk of loss at December 31, 2012, includes $20.9 million of debt recorded in our Condensed Consolidated Balance Sheet due to its association with a tenancy-in-common arrangement.

We and our partners are subject to the provisions of the joint venture agreements that specify conditions, including operating shortfalls and unplanned capital expenditures, under which additional contributions may be required.

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Condensed Consolidated Statements Of Cash Flows (Parenthetical) (USD $) In Thousands, unless otherwise specified	9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012
Capitalized interest paid	$ 1,724	$ 2,394

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Condensed Consolidated Statements Of Equity (Parenthetical) (USD $)	9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012
Common dividend per share	$ 0.915	$ 0.870
6.75% Series D Preferred Shares [Member]
Preferred dividend per share	$ 13.08	$ 37.97
6.95% Series E Preferred Shares [Member]
Preferred dividend per share	$ 0.00	$ 130.31
6.5% Series F Preferred Shares [Member]
Preferred dividend per share	$ 119.62	$ 121.88

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Property

9 Months Ended

Sep. 30, 2013

Real Estate [Abstract]

Property

Property

Our property consists of the following (in thousands):

	September 30, 2013		December 31, 2012
Land	$	878,652	$	881,156
Land held for development	118,334		121,294
Land under development	4,222		6,155
Buildings and improvements	3,235,883		3,325,793
Construction in-progress	71,758		65,452
Total	$	4,308,849	$	4,399,850

During the nine months ended September 30, 2013, we acquired two centers for approximately $73.1 million.

During the nine months ended September 30, 2013, we sold 18 centers and other property. Aggregate gross sales proceeds from these transactions approximated $219.0 million and generated gains of $116.8 million. See Note 20 for subsequent events.

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Employee Benefit Plans Employee Benefit Plans (Narrative) (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, employer contributions			$ 1.8	$ 2.5
Defined contribution plan, compensation expense	$ 0.8	$ 0.6	$ 2.5	$ 2.4

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Summary Of Significant Accounting Policies

9 Months Ended

Sep. 30, 2013

Accounting Policies [Abstract]

Summary Of Significant Accounting Policies

Summary of Significant Accounting Policies

Business

Weingarten Realty Investors is a real estate investment trust (“REIT”) organized under the Texas Business Organizations Code. We currently operate, and intend to operate in the future, as a REIT.

We, and our predecessor entity, began the ownership and development of shopping centers and other commercial real estate in 1948. Our primary business is leasing space to tenants in the shopping centers we own or lease. We also provide property management services for which we charge fees for either joint ventures where we are partners or for other outside owners.

We operate a portfolio of neighborhood and community shopping centers, totaling approximately 50.4 million square feet of gross leaseable area, that is either owned by us or others. We have a diversified tenant base, with our largest tenant comprising only 3.2% of total rental revenues during the first nine months of 2013. Total revenues less operating expenses and real estate taxes from continuing operations ("net operating income from continuing operations") generated by our properties located in Houston and its surrounding areas was 20.0% of total net operating income from continuing operations for the nine months ended September 30, 2013, and an additional 7.8% of net operating income from continuing operations is generated from properties that are located in other parts of Texas.

Basis of Presentation

Our consolidated financial statements include the accounts of our subsidiaries, certain partially owned real estate joint ventures or partnerships and variable interest entities (“VIEs”) which meet the guidelines for consolidation. All intercompany balances and transactions have been eliminated.

The condensed consolidated financial statements included in this report are unaudited; however, amounts presented in the condensed consolidated balance sheet as of December 31, 2012 are derived from our audited financial statements at that date. In our opinion, all adjustments necessary for a fair presentation of such financial statements have been included. Such adjustments consisted of normal recurring items. Interim results are not necessarily indicative of results for a full year.

The condensed consolidated financial statements and notes are presented as permitted by Form 10-Q and certain information included in our annual financial statements and notes thereto has been condensed or omitted. These condensed consolidated financial statements should be read in conjunction with our Annual Report on Form 10-K for the year ended December 31, 2012.

Our financial statements are prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). Such statements require management to make estimates and assumptions that affect the reported amounts on our consolidated financial statements. Actual results could differ from these estimates. We have evaluated subsequent events for recognition or disclosure in our consolidated financial statements.

Restricted Deposits and Mortgage Escrows

Restricted deposits and mortgage escrows consist of escrow deposits held by lenders primarily for property taxes, insurance and replacement reserves and restricted cash that is held for a specific use or in a qualified escrow account for the purposes of completing like-kind exchange transactions.

Our restricted deposits and mortgage escrows consist of the following (in thousands):

	September 30, 2013		December 31, 2012
Restricted cash (1)	$	52,567	$	36,944
Mortgage escrows	4,901		7,152
Total	$	57,468	$	44,096

_______________

(1) The increase between the periods presented is primarily attributable to $50.3 million placed in a qualified escrow account, less the use of $30.7 million for the purpose of completing like-kind exchange transactions.

Accumulated Other Comprehensive Loss

Changes in accumulated other comprehensive loss by component consists of the following (in thousands):

	Loss on Investments		(Gain) Loss on Cash Flow Hedges				Defined Benefit Pension Plan				Total
Balance, December 31, 2012	$	—	$	7,489			$	17,254			$	24,743
Change excluding amounts reclassified from accumulated other comprehensive income	34		(6,735		)		(103		)		(6,804		)
Amounts reclassified from accumulated other comprehensive income	—		(1,802		)	(1)	(990		)	(2)	(2,792		)
Net other comprehensive income	34		(8,537		)		(1,093		)		(9,596		)
Balance, September 30, 2013	$	34	$	(1,048	)		$	16,161			$	15,147

_______________

(1) This reclassification component is included in interest expense (see Note 7 for additional information).

(2) This reclassification component is included in the computation of net periodic benefit cost (see Note 14 for additional information).

Reclassifications

The reclassification of prior years’ operating results for certain properties classified as discontinued operations was made to conform to the current year presentation (see Note 10 and 12 for additional information). These items had no impact on previously reported net income, the consolidated balance sheet or cash flows.

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Variable Interest Entities (Tables)

9 Months Ended

Sep. 30, 2013

Consolidated Variable Interest Entities [Member]

Variable Interest Entity [Line Items]

Summary Of Variable Interest Entities

A summary of our consolidated VIEs is as follows (in thousands):

	September 30, 2013		December 31, 2012
Maximum Risk of Loss (1)	$	88,000	$	111,305
Assets held by VIEs	236,211		257,374
Assets held as collateral for debt	229,644		246,486

_______________

(1) The maximum risk of loss has been determined to be limited to our debt exposure for each real estate joint venture.

Unconsolidated Variable Interest Entities [Member]

Variable Interest Entity [Line Items]

Summary Of Variable Interest Entities

A summary of our unconsolidated VIEs is as follows (in thousands):

	September 30, 2013		December 31, 2012
Investment in Real Estate Joint Ventures and Partnerships, net (1)	$	11,502	$	29,628
Maximum Risk of Loss (2)	11,679		32,990

_______________

(1) The carrying amount of the investments represents our contributions to the real estate joint ventures, net of any distributions made and our portion of the equity in earnings of the joint ventures.

(2) The maximum risk of loss has been determined to be limited to our debt exposure for each real estate joint venture. The maximum risk of loss at December 31, 2012, includes $20.9 million of debt recorded in our Condensed Consolidated Balance Sheet due to its association with a tenancy-in-common arrangement.

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Subsequent Events Subsequent Events

9 Months Ended

Sep. 30, 2013

Subsequent Events [Abstract]

Subsequent Events

Subsequent Events

Subsequent to September 30, 2013, we acquired additional real estate assets totaling $85.6 million, including a 350,000 square foot in-fill shopping center in Austin, Texas.

Subsequent to September 30, 2013, we entered an agreement with our joint venture partners. Pursuant to the agreement, we settled a lawsuit filed against our joint venture partner in connection with a development project in Sheridan, Colorado and paid down a $16.1 million note receivable (see Note 5 for further information) in exchange for cash and real property totaling $19.1 million, receipt of our partner’s interest in two consolidated joint ventures resulting in an increase of approximately $16.2 million in noncontrolling interests and distribution of our interest in two unconsolidated joint ventures with total assets of $23.2 million at September 30, 2013.

Subsequent to September 30, 2013, we executed a non-binding letter of intent to dissolve a consolidated joint venture with $172.5 million in total assets, in which we have a 30% ownership interest, through a distribution of properties to each partner. Pursuant to this agreement, a $100 million note payable was repaid prior to maturity.

On October 15, 2013, we issued $250 million of 4.45% senior unsecured notes maturing in 2024. The notes were issued at 99.58% of the principal amount with a yield to maturity of 4.50%. The net proceeds received of $247.3 million were used to reduce all amounts outstanding under our $500 million unsecured revolving credit facility, andnet excess proceeds were invested in short-term instruments and will be used to pay down future debt maturities or for general business purposes. In connection with the issuance of these notes, we received $6.1 million associated with the settlement of our three forward-starting interest rate contracts with an aggregate notional amount of $150 million.

*****

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Investment In Real Estate Joint Ventures And Partnerships (Tables)

9 Months Ended

Sep. 30, 2013

Equity Method Investments and Joint Ventures [Abstract]

Combined Condensed Balance Sheets

Combined condensed financial information of these ventures (at 100%) is summarized as follows (in thousands):

	September 30, 2013			December 31, 2012
Combined Condensed Balance Sheets
ASSETS
Property	$	1,507,115		$	1,631,694
Accumulated depreciation	(284,101		)	(273,591		)
Property, net	1,223,014			1,358,103
Other assets, net	159,105			161,344
Total	$	1,382,119		$	1,519,447
LIABILITIES AND SHAREHOLDERS' EQUITY
Debt, net (primarily mortgages payable)	$	467,908		$	468,841
Amounts payable to Weingarten Realty Investors and Affiliates	102,390			109,931
Other liabilities, net	35,083			34,157
Total	605,381			612,929
Accumulated equity	776,738			906,518
Total	$	1,382,119		$	1,519,447

Combined Condensed Statements Of Operations

	Three Months Ended September 30,				Nine Months Ended September 30,
	2013		2012		2013		2012
Combined Condensed Statements of Operations
Revenues, net	$	40,804	$	49,726	$	124,064	$	149,599
Expenses:
Depreciation and amortization	11,343		15,071		34,922		46,688
Interest, net	7,131		8,956		22,091		27,003
Operating	7,298		9,069		20,859		26,265
Real estate taxes, net	4,739		6,322		14,335		18,719
General and administrative	187		420		637		1,006
Provision for income taxes	63		81		211		249
Impairment loss	59		283		1,887		96,781
Total	30,820		40,202		94,942		216,711
Operating income (loss)	$	9,984	$	9,524	$	29,122	$	(67,112	)

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Share Options And Awards (Fair Value Of Market-Based Share Awards Assumptions) (Details) (Restricted Shares [Member])	9 Months Ended
	Sep. 30, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected life (in years)	3 years
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield	0.00%
Expected volatility, Minimum	13.20%
Risk-free interest rate, Minimum	0.10%
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield	3.90%
Expected volatility, Maximum	29.00%
Risk-free interest rate, Maximum	0.40%

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Supplemental Cash Flow Information (Tables)

9 Months Ended

Sep. 30, 2013

Supplemental Cash Flow Elements [Abstract]

Summary Of Non-Cash Investing And Financing Activities

Non-cash investing and financing activities are summarized as follows (in thousands):

	Nine Months Ended September 30,
	2013			2012
Accrued property construction costs	$	9,662		$	7,454
Property acquisitions and investments in unconsolidated real estate joint ventures:
Increase in property, net	18,698			16,665
Decrease in notes receivable from real estate joint ventures and partnerships	(3,636		)	—
Decrease in real estate joint ventures and partnerships - investments	(50		)	(3,825		)
Increase in restricted deposits and mortgage escrows	—			395
Increase in debt, net	21,396			40,644
Increase in security deposits	129			1,332
Increase in noncontrolling interests	—			968
Sale of property and property interest:
Decrease in property, net	—			(2,855		)
Decrease in real estate joint ventures and partnerships - investments	—			(95		)
Decrease in restricted deposits and mortgage escrows	—			(204		)
Decrease in debt, net due to debt assumption	—			(3,366		)
Decrease in security deposits	—			(11		)
Decrease in noncontrolling interests	—			(95		)

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Share Options And Awards (Narrative) (Details) (Restricted Shares [Member], USD $) In Millions, unless otherwise specified	9 Months Ended	12 Months Ended
	Sep. 30, 2013	Dec. 31, 2012
Restricted Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense	$ 4.7	$ 4.7
Weighted average expected amortization period for unrecognized compensation cost	1 year 8 months	1 year 11 months

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Debt (Grouping Of Debt Between Fixed And Variable As Well As Secured And Unsecured) (Details) (USD $) In Thousands, unless otherwise specified	Sep. 30, 2013		Dec. 31, 2012
Debt Instrument [Line Items]
Total	$ 2,293,898	[1]	$ 2,204,030	[1]
As To Interest Rate [Member]
Debt Instrument [Line Items]
Fixed-rate debt	2,013,253		1,992,599
Variable-rate debt	280,645		211,431
Total	2,293,898		2,204,030
As To Collateralization [Member]
Debt Instrument [Line Items]
Unsecured debt	1,499,297		1,270,742
Secured debt	794,601		933,288
Total	$ 2,293,898		$ 2,204,030

[1] Consolidated Variable Interest Entities’ Assets and Liabilities included in the above balances (See Note 17):

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Investment In Real Estate Joint Ventures And Partnerships (Combined Condensed Balance Sheets) (Details) (USD $) In Thousands, unless otherwise specified	Sep. 30, 2013		Dec. 31, 2012		Sep. 30, 2012	Dec. 31, 2011
ASSETS
Property	$ 4,308,849		$ 4,399,850
Accumulated depreciation	(1,060,419)		(1,040,839)
Property, net	3,248,430	[1]	3,359,011	[1]
Total Assets	4,118,547		4,184,784
LIABILITIES AND SHAREHOLDERS' EQUITY
Debt, net (primarily mortgages payable)	2,293,898	[1]	2,204,030	[1]
Other liabilities, net	113,375		120,900
Total Liabilities	2,524,258		2,444,629
Accumulated equity	1,594,289		1,740,155		1,796,851	1,823,582
Total Liabilities and Equity	4,118,547		4,184,784
Unconsolidated Real Estate Joint Ventures [Member]
ASSETS
Property	1,507,115		1,631,694
Accumulated depreciation	(284,101)		(273,591)
Property, net	1,223,014		1,358,103
Other assets, net	159,105		161,344
Total Assets	1,382,119		1,519,447
LIABILITIES AND SHAREHOLDERS' EQUITY
Debt, net (primarily mortgages payable)	467,908		468,841
Amounts payable to Weingarten Realty Investors and Affiliates	102,390		109,931
Other liabilities, net	35,083		34,157
Total Liabilities	605,381		612,929
Accumulated equity	776,738		906,518
Total Liabilities and Equity	$ 1,382,119		$ 1,519,447

[1] Consolidated Variable Interest Entities’ Assets and Liabilities included in the above balances (See Note 17):

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Summary Of Significant Accounting Policies (Schedule Of Restricted Deposits And Mortgage Escrows) (Details) (USD $)	9 Months Ended
	Sep. 30, 2013		Dec. 31, 2012
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	$ 52,567,000	[1]	$ 36,944,000	[1]
Mortgage escrows	4,901,000		7,152,000
Total	57,468,000		44,096,000
Qualified escrow for like-kind exchange, proceeds	50,300,000
Qualified escrow for like-kind exchange, payments	$ 30,700,000

[1] The increase between the periods presented is primarily attributable to $50.3 million placed in a qualified escrow account, less the use of $30.7 million for the purpose of completing like-kind exchange transactions.

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Condensed Consolidated Balance Sheets (USD $) In Thousands, unless otherwise specified	Sep. 30, 2013		Dec. 31, 2012
ASSETS
Property	$ 4,308,849		$ 4,399,850
Accumulated Depreciation	(1,060,419)		(1,040,839)
Property, net	3,248,430	[1]	3,359,011	[1]
Investment in Real Estate Joint Ventures and Partnerships, net	281,203		289,049
Total	3,529,633		3,648,060
Notes Receivable from Real Estate Joint Ventures and Partnerships	84,142		89,776
Unamortized Debt and Lease Costs, net	137,000		135,783
Accrued Rent and Accounts Receivable (net of allowance for doubtful accounts of $10,199 in 2013 and $12,127 in 2012)	76,828	[1]	79,540	[1]
Cash and Cash Equivalents	51,730	[1]	19,604	[1]
Restricted Deposits and Mortgage Escrows	57,468		44,096
Other, net	181,746		167,925
Total Assets	4,118,547		4,184,784
LIABILITIES AND EQUITY
Debt, net	2,293,898	[1]	2,204,030	[1]
Accounts Payable and Accrued Expenses	116,985		119,699
Other, net	113,375		120,900
Total Liabilities	2,524,258		2,444,629
Commitments and Contingencies	0		0
Shareholders' Equity:
Common Shares of Beneficial Interest - par value, $.03 per share; shares authorized: 275,000; shares issued and outstanding: 121,940 in 2013 and 121,505 in 2012	3,683		3,663
Additional Paid-In Capital	1,690,687		1,934,183
Net Income Less Than Accumulated Dividends	(310,568)		(335,980)
Accumulated Other Comprehensive Loss	(15,147)		(24,743)
Total Shareholders' Equity	1,368,657		1,577,130
Noncontrolling Interests	225,632		163,025
Total Equity	1,594,289		1,740,155
Total Liabilities and Equity	4,118,547		4,184,784
Consolidated Variable Interest Entities' Assets and Liabilities included in the above balances (See Note 17):
Property, net	210,134		226,685
Accrued Rent and Accounts Receivable, net	5,870		8,095
Cash and Cash Equivalents	13,640		11,706
Debt, net	$ 210,400		$ 276,420

[1] Consolidated Variable Interest Entities’ Assets and Liabilities included in the above balances (See Note 17):

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Debt

9 Months Ended

Sep. 30, 2013

Debt Disclosure [Abstract]

Debt

Debt

Our debt consists of the following (in thousands):

	September 30, 2013		December 31, 2012
Debt payable to 2038 at 2.6% to 8.6% in 2013 and 2.6% to 8.8% in 2012	$	2,083,363	$	2,041,709
Unsecured notes payable under credit facilities	114,500		66,000
Debt service guaranty liability	74,075		74,075
Obligations under capital leases	21,000		21,000
Industrial revenue bonds payable to 2015 at 2.4%	960		1,246
Total	$	2,293,898	$	2,204,030

The grouping of total debt between fixed and variable-rate as well as between secured and unsecured is summarized below (in thousands):

	September 30, 2013		December 31, 2012
As to interest rate (including the effects of interest rate contracts):
Fixed-rate debt	$	2,013,253	$	1,992,599
Variable-rate debt	280,645		211,431
Total	$	2,293,898	$	2,204,030
As to collateralization:
Unsecured debt	$	1,499,297	$	1,270,742
Secured debt	794,601		933,288
Total	$	2,293,898	$	2,204,030

We maintain a $500 million unsecured revolving credit facility, which was last amended on April 18, 2013. This facility expires in April 2017, provides for two consecutive six-month extensions upon our request and borrowing rates that float at a margin over LIBOR plus a facility fee. At September 30, 2013, the borrowing margin and facility fee, which are priced off a grid that is tied to our senior unsecured credit ratings, are 115 and 20 basis points, respectively. The facility also contains a competitive bid feature that will allow us to request bids for up to $250 million. Additionally, an accordion feature allows us to increase the facility amount up to $700 million.

Effective May 2010, we entered into an agreement with a bank for an unsecured and uncommitted overnight facility totaling $99 million that we maintain for cash management purposes. The facility provides for fixed interest rate loans at a 30-day LIBOR rate plus a borrowing margin based on market liquidity.

The following table discloses certain information regarding our unsecured notes payable under our credit facilities (in thousands, except percentages):

	September 30, 2013			December 31, 2012
Unsecured revolving credit facility:
Balance outstanding	$	100,000		$	30,000
Available balance	397,821			467,571
Letter of credit outstanding under facility	2,179			2,429
Variable interest rate (excluding facility fee)	0.9		%	1.1		%
Unsecured and uncommitted overnight facility:
Balance outstanding	$	14,500		$	36,000
Variable interest rate	1.5		%	1.5		%
Both facilities:
Maximum balance outstanding during the period	$	265,500		$	303,100
Weighted average balance	79,060			157,447
Year-to-date weighted average interest rate (excluding facility fee)	1.1		%	1.3		%

Related to a development project in Sheridan, Colorado, we have provided a guaranty for the payment of any debt service shortfalls until a coverage rate of 1.4x is met on tax increment revenue bonds issued in connection with the project. The bonds are to be repaid with incremental sales and property taxes and a public improvement fee (“PIF”) to be assessed on current and future retail sales and, to the extent necessary, any amounts we may have to provide under a guaranty. The incremental taxes and PIF are to remain intact until the earlier of the date the bond liability has been paid in full or 2040, as extended by the Sheridan Redevelopment Agency (“Agency”) in April 2011. Therefore, a debt service guaranty liability equal to the fair value of the amounts funded under the bonds was recorded. For both periods ended at September 30, 2013 and December 31, 2012, we had $74.1 million outstanding for the debt service guaranty liability.

On March 22, 2013, we issued $300 million of 3.5% senior unsecured notes maturing in 2023. The notes were issued at 99.53% of the principal amount with a yield to maturity of 3.56%. The net proceeds received of $296.6 million were used to reduce amounts outstanding under our $500 million unsecured revolving credit facility, which included borrowings used to redeem $75 million of our 6.75% Series D Cumulative Redeemable Preferred Shares. In addition, $113.6 million of fixed-rate medium term notes matured during 2013 at a weighted average interest rate of 5.6%. See Note 20 for subsequent events.

Various leases and properties, and current and future rentals from those leases and properties, collateralize certain debt. At September 30, 2013 and December 31, 2012, the carrying value of such assets aggregated $1.3 billion and $1.5 billion, respectively.

Scheduled principal payments on our debt (excluding $114.5 million due under our credit facilities, $21.0 million of certain capital leases, $6.3 million fair value of interest rate contracts, $(2.4) million net premium/(discount) on debt, $2.4 million of non-cash debt-related items, and $74.1 million debt service guaranty liability) are due during the following years (in thousands):

2013 remaining	$	65,727
2014	468,858
2015	275,998
2016	249,283
2017	141,864
2018	64,157
2019 (1)	153,380
2020	3,342
2021	2,278
2022	304,815
Thereafter	348,264
Total	$	2,077,966

_______________

(1) Includes $100 million of our 8.1% senior unsecured notes due 2019 which may be redeemed by us at any time on or after September 2014 at our option.

Our various debt agreements contain restrictive covenants, including minimum interest and fixed charge coverage ratios, minimum unencumbered interest coverage ratios, minimum net worth requirements and maximum total debt levels. We believe we were in compliance with our public debt and revolving credit facility covenants as of September 30, 2013.

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Condensed Consolidated Statements Of Cash Flows (USD $) In Thousands, unless otherwise specified	9 Months Ended
	Sep. 30, 2013		Sep. 30, 2012
Cash Flows from Operating Activities:
Net Income	$ 211,384		$ 97,446
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	116,216		110,300
Amortization of deferred financing costs, net	(8,156)		386
Impairment loss	2,815		15,410
Equity in (earnings) losses of real estate joint ventures and partnerships, net	(14,467)		6,715
Gain on acquisition	0		(1,869)
Gain on sale of real estate joint venture and partnership interests	(11,599)		(5,562)
Gain on sale of property	(116,796)		(50,583)
Distributions of income from real estate joint ventures and partnerships, net	2,623		2,160
Changes in accrued rent and accounts receivable, net	(1,435)		2,095
Changes in other assets, net	(17,189)		(17,740)
Changes in accounts payable, accrued expenses and other liabilities, net	1,488		(7,021)
Other, net	6,062		10,472
Net cash provided by operating activities	170,946		162,209
Cash Flows from Investing Activities:
Acquisition of real estate and land	(58,173)		(196,801)
Development and capital improvements	(50,014)		(68,345)
Proceeds from sale of property and real estate equity investments, net	267,655		480,502
Change in restricted deposits and mortgage escrows	(13,461)		50
Notes receivable from real estate joint ventures and partnerships and other receivables:
Advances	(289)		(6,468)
Collections	7,224		74,296
Real estate joint ventures and partnerships:
Investments	(21,353)		(8,445)
Distributions of capital	32,660		31,910
Other, net	(7,086)		0
Net cash provided by investing activities	157,163		306,699
Cash Flows from Financing Activities:
Proceeds from issuance of debt	324,584		0
Principal payments of debt	(283,902)		(412,091)
Changes in unsecured credit facilities	48,500		83,500
Purchase of marketable securities in connection with the legal defeasance of debt	(5,823)		0
Proceeds from issuance of common shares of beneficial interest, net	5,778		4,753
Repurchase of preferred shares of beneficial interest	(275,000)		0
Common and preferred dividends paid	(126,269)		(130,105)
Debt issuance costs paid	(4,702)		(1,735)
Distributions to noncontrolling interests	(13,455)		(10,119)
Contributions from noncontrolling interests	33,884		2,123
Other, net	422		213
Net cash used in financing activities	(295,983)		(463,461)
Net increase in cash and cash equivalents	32,126		5,447
Cash and cash equivalents at January 1	19,604	[1]	13,642
Cash and cash equivalents at September 30	51,730	[1]	19,089
Interest paid during the period (net of amount capitalized of $1,724 and $2,394, respectively)	85,594		98,024
Income taxes paid during the period	$ 1,860		$ 1,548

[1] Consolidated Variable Interest Entities’ Assets and Liabilities included in the above balances (See Note 17):

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Derivatives And Hedging (Narrative) (Details) (USD $)	9 Months Ended	12 Months Ended
	Sep. 30, 2013 contracts	Dec. 31, 2012 contracts
Derivative [Line Items]
Accumulated Other Comprehensive Loss	$ (15,147,000)	$ (24,743,000)
(Gain) Loss On Cash Flow Hedges [Member]
Derivative [Line Items]
Accumulated Other Comprehensive Loss	1,048,000	(7,489,000)
Interest Rate Contracts [Member] | Cash Flow Hedges [Member]
Derivative [Line Items]
Number of active interest rate contracts held	3	3
Notional amount of interest rate cash flow hedge derivatives	26,000,000	26,500,000
Derivative, maturity date	Sep. 15, 2017	Sep. 15, 2017
Derivative, lower fixed interest rate range	2.30%	2.30%
Derivative, higher fixed interest rate range	5.00%	5.00%
Cash flow hedge gain (loss) to be amortized within 12 months	(2,000,000)
Interest Rate Contracts [Member] | Fair Value Hedges [Member]
Derivative [Line Items]
Number of active interest rate contracts held	4	4
Notional amount of interest rate fair value hedge derivatives	117,100,000	118,100,000
Derivative, maturity date	Oct. 15, 2017	Oct. 15, 2017
Derivative, lower fixed interest rate range	4.20%	4.20%
Derivative, higher fixed interest rate range	7.50%	7.50%
Derivative, lower variable interest rate range	0.30%	0.30%
Derivative, higher variable interest rate range	4.30%	4.30%
Forward-Starting Contracts [Member] | Cash Flow Hedges [Member]
Derivative [Line Items]
Number of active interest rate contracts held	3
Notional amount of interest rate cash flow hedge derivatives	$ 150,000,000
Derivative, effective date	Jan. 15, 2014
Derivative, maturity date	Jan. 15, 2024
Derivative, fixed interest rate	2.40%

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Condensed Consolidated Statements of Operations and Comprehensive Income (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Revenues:
Rentals, net	$ 127,548	$ 119,211	$ 374,266	$ 342,507
Other	3,119	3,108	9,486	8,346
Total	130,667	122,319	383,752	350,853
Expenses:
Depreciation and amortization	37,122	34,591	112,347	97,845
Operating	25,530	25,191	74,213	69,048
Real estate taxes, net	15,624	14,499	45,242	41,306
Impairment loss	2,358	197	2,579	9,585
General and administrative	5,966	6,417	18,818	21,101
Total	86,600	80,895	253,199	238,885
Operating Income	44,067	41,424	130,553	111,968
Interest Expense, net	(27,660)	(27,482)	(73,689)	(86,692)
Interest and Other Income, net	1,864	1,818	5,788	4,786
Gain on Sale of Real Estate Joint Venture and Partnership Interests	7	0	11,599	5,562
Equity in Earnings (Losses) of Real Estate Joint Ventures and Partnerships, net	5,125	4,905	14,467	(6,715)
Gain on Acquisition	0	1,869	0	1,869
Benefit (Provision) for Income Taxes	215	(722)	214	(378)
Income from Continuing Operations	23,618	21,812	88,932	30,400
Operating Income from Discontinued Operations	394	5,074	5,656	16,463
Gain on Sale of Property from Discontinued Operations	38,214	14,826	116,226	49,724
Income from Discontinued Operations	38,608	19,900	121,882	66,187
Gain on Sale of Property	163	335	570	859
Net Income	62,389	42,047	211,384	97,446
Less: Net Income Attributable to Noncontrolling Interests	(1,847)	(1,774)	(41,056)	(4,557)
Net Income Adjusted for Noncontrolling Interests	60,542	40,273	170,328	92,889
Dividends on Preferred Shares	(2,710)	(8,869)	(15,463)	(26,607)
Redemption Costs of Preferred Shares	0	0	(17,944)	0
Net Income Attributable to Common Shareholders	57,832	31,404	136,921	66,282
Earnings Per Common Share - Basic:
Income from continuing operations attributable to common shareholders	$ 0.16	$ 0.10	$ 0.43	$ 0.01
Income from discontinued operations	$ 0.32	$ 0.16	$ 0.70	$ 0.54
Net income attributable to common shareholders	$ 0.48	$ 0.26	$ 1.13	$ 0.55
Earnings Per Common Share - Diluted:
Income from continuing operations attributable to common shareholders	$ 0.16	$ 0.10	$ 0.43	$ 0.01
Income from discontinued operations	$ 0.31	$ 0.16	$ 0.69	$ 0.53
Net income attributable to common shareholders	$ 0.47	$ 0.26	$ 1.12	$ 0.54
Comprehensive Income:
Net Income	62,389	42,047	211,384	97,446
Other Comprehensive Income:
Net unrealized loss on investments, net of taxes	(34)	0	(34)	0
Net unrealized gain (loss) on derivatives	(293)	(49)	6,735	(181)
Amortization of loss on derivatives	480	664	1,802	1,985
Retirement liability adjustment	364	0	1,093	0
Total	517	615	9,596	1,804
Comprehensive Income	62,906	42,662	220,980	99,250
Comprehensive Income Attributable to Noncontrolling Interests	(1,847)	(1,774)	(41,056)	(4,557)
Comprehensive Income Adjusted for Noncontrolling Interests	$ 61,059	$ 40,888	$ 179,924	$ 94,693

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Investment In Real Estate Joint Ventures And Partnerships (Combined Condensed Statements Of Operations) (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Investment In Real Estate Joint Ventures And Partnerships [Line Items]
Revenues, net	$ 130,667	$ 122,319	$ 383,752	$ 350,853
Expenses:
Depreciation and amortization	37,122	34,591	112,347	97,845
Interest, net	27,660	27,482	73,689	86,692
Operating	25,530	25,191	74,213	69,048
Real estate taxes, net	15,624	14,499	45,242	41,306
General and administrative	5,966	6,417	18,818	21,101
Provision for income taxes	(215)	722	(214)	378
Impairment loss	2,358	197	2,579	9,585
Total	86,600	80,895	253,199	238,885
Operating income (loss)	23,618	21,812	88,932	30,400
Unconsolidated Real Estate Joint Ventures [Member]
Investment In Real Estate Joint Ventures And Partnerships [Line Items]
Revenues, net	40,804	49,726	124,064	149,599
Expenses:
Depreciation and amortization	11,343	15,071	34,922	46,688
Interest, net	7,131	8,956	22,091	27,003
Operating	7,298	9,069	20,859	26,265
Real estate taxes, net	4,739	6,322	14,335	18,719
General and administrative	187	420	637	1,006
Provision for income taxes	63	81	211	249
Impairment loss	59	283	1,887	96,781
Total	30,820	40,202	94,942	216,711
Operating income (loss)	$ 9,984	$ 9,524	$ 29,122	$ (67,112)

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Variable Interest Entities (Summary Of Unconsoldiated Variable Interest Entities) (Details) (Unconsolidated Variable Interest Entities [Member], USD $)	Sep. 30, 2013		Dec. 31, 2012
Unconsolidated Variable Interest Entities [Member]
Variable Interest Entity [Line Items]
Investment in Real Estate Joint Ventures and Partnerships, net	$ 11,502,000	[1]	$ 29,628,000	[1]
Maximum Risk of Loss	11,679,000	[2]	32,990,000	[2]
Debt associated with tenancy-in-common arrangement			$ 20,900,000

[1] The carrying amount of the investments represents our contributions to the real estate joint ventures, net of any distributions made and our portion of the equity in earnings of the joint ventures.

[2] The maximum risk of loss has been determined to be limited to our debt exposure for each real estate joint venture. The maximum risk of loss at December 31, 2012, includes $20.9 million of debt recorded in our Condensed Consolidated Balance Sheet due to its association with a tenancy-in-common arrangement.

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Related Parties (Narrative) (Details) (USD $)	1 Months Ended		3 Months Ended		9 Months Ended					1 Months Ended	12 Months Ended	9 Months Ended
	Nov. 30, 2012 jvs	Feb. 29, 2012	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013 property	Sep. 30, 2012	Dec. 31, 2012	Nov. 30, 2012 Minimum [Member]	Nov. 30, 2012 Maximum [Member]	Nov. 30, 2012 Industrial Properties [Member] property	Dec. 31, 2012 Industrial Properties [Member] property	Sep. 30, 2013 Tenancy In Common [Member] jvs	Aug. 06, 2012 Tenancy In Common [Member]
Related Party Transaction [Line Items]
Net accounts receivable, related parties			$ 2,200,000		$ 2,200,000		$ 1,800,000
Accounts payable and accrued expenses, related parties			5,700,000		5,700,000		6,300,000
Management fees revenue, related parties			1,200,000	1,500,000	3,800,000	4,800,000
Ownership percentage in joint ventures		47.80%					75.00%	20.00%	50.00%			10.00%	79.60%
Number of real estate joint ventures	3											2
Number of operating properties sold					18					9	54
Proceeds from sale of unconsolidated real estate joint venture, gross	20,900,000	29,100,000										8,900,000
Gain on sale of real estate joint venture and partnership interests	$ 8,600,000	$ 3,500,000	$ 7,000	$ 0	$ 11,599,000	$ 5,562,000

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Summary Of Significant Accounting Policies (Policy)

9 Months Ended

Sep. 30, 2013

Accounting Policies [Abstract]

Basis Of Presentation

Basis of Presentation

Our consolidated financial statements include the accounts of our subsidiaries, certain partially owned real estate joint ventures or partnerships and variable interest entities (“VIEs”) which meet the guidelines for consolidation. All intercompany balances and transactions have been eliminated.

The condensed consolidated financial statements included in this report are unaudited; however, amounts presented in the condensed consolidated balance sheet as of December 31, 2012 are derived from our audited financial statements at that date. In our opinion, all adjustments necessary for a fair presentation of such financial statements have been included. Such adjustments consisted of normal recurring items. Interim results are not necessarily indicative of results for a full year.

The condensed consolidated financial statements and notes are presented as permitted by Form 10-Q and certain information included in our annual financial statements and notes thereto has been condensed or omitted. These condensed consolidated financial statements should be read in conjunction with our Annual Report on Form 10-K for the year ended December 31, 2012.

Our financial statements are prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). Such statements require management to make estimates and assumptions that affect the reported amounts on our consolidated financial statements. Actual results could differ from these estimates. We have evaluated subsequent events for recognition or disclosure in our consolidated financial statements.

Restricted Deposits And Mortgage Escrows

Restricted Deposits and Mortgage Escrows

Restricted deposits and mortgage escrows consist of escrow deposits held by lenders primarily for property taxes, insurance and replacement reserves and restricted cash that is held for a specific use or in a qualified escrow account for the purposes of completing like-kind exchange transactions.

Reclassifications

Reclassifications

The reclassification of prior years’ operating results for certain properties classified as discontinued operations was made to conform to the current year presentation (see Note 10 and 12 for additional information). These items had no impact on previously reported net income, the consolidated balance sheet or cash flows.

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Related Parties

9 Months Ended

Sep. 30, 2013

Related Party Transactions [Abstract]

Related Parties

Related Parties

Through our management activities and transactions with our real estate joint ventures and partnerships, we had net accounts receivable of $2.2 million and $1.8 million outstanding as of September 30, 2013 and December 31, 2012, respectively. We also had accounts payable and accrued expenses of $5.7 million and $6.3 million outstanding as of September 30, 2013 and December 31, 2012, respectively. For the three months ended September 30, 2013 and 2012, we recorded joint venture fee income of $1.2 million and $1.5 million, respectively. For the nine months ended September 30, 2013 and 2012, we recorded joint venture fee income of $3.8 million and $4.8 million, respectively.

In 2013, we sold our 10% interest in two unconsolidated tenancy-in-common arrangements to our partner for approximately $8.9 million.

In February 2012, we sold our 47.8% unconsolidated joint venture interest in a Colorado development project to our partner with gross sales proceeds totaling $29.1 million, which includes the assumption of our share of debt, generating a gain of $3.5 million.

In November 2012, we sold three unconsolidated joint venture interests, ranging from 20% to 50%, in nine industrial properties to our partner with gross sales proceeds totaling $20.9 million, which includes the assumption of our share of debt, generating a gain of $8.6 million.

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Summary Of Significant Accounting Policies (Narrative) (Details)	9 Months Ended
	Sep. 30, 2013 sqft
Summary Of Significant Accounting Policies [Line Items]
Date of establishment	1948
Square footage of operating properties	50,400,000
Rental Revenues [Member] | Tenant Base [Member]
Summary Of Significant Accounting Policies [Line Items]
Concentrations of risk	3.20%
Net Operating Income [Member] | Houston, Texas Geographic Concentration [Member]
Summary Of Significant Accounting Policies [Line Items]
Concentrations of risk	20.00%
Net Operating Income [Member] | Other Parts of Texas Geographic Concentration [Member]
Summary Of Significant Accounting Policies [Line Items]
Concentrations of risk	7.80%

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Variable Interest Entities (Narrative) (Details)	9 Months Ended	12 Months Ended
	Sep. 30, 2013 jvs property	Dec. 31, 2012 property
Consolidated Variable Interest Entities [Member]
Variable Interest Entity [Line Items]
Number of VIE real estate joint ventures	2
Number of neighborhood/community shopping centers	28	30
Through Secured Loans [Member] | Unconsolidated Variable Interest Entities [Member]
Variable Interest Entity [Line Items]
Number of VIE real estate joint ventures	1	2

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Debt (Schedule Of Debt) (Details) (USD $) In Thousands, unless otherwise specified	9 Months Ended		12 Months Ended
	Sep. 30, 2013		Dec. 31, 2012
Debt Instrument [Line Items]
Unsecured notes payable under credit facilities	$ 114,500		$ 66,000
Debt service guaranty liability	74,075		74,075
Obligations under capital leases	21,000		21,000
Total	2,293,898	[1]	2,204,030	[1]
Debt Payable To 2038 [Member]
Debt Instrument [Line Items]
Debt payable to 2038 at 2.6% to 8.6% in 2013 and 2.6% to 8.8% in 2012	2,083,363		2,041,709
Debt maturity date	Dec. 23, 2038		Dec. 23, 2038
Debt Payable To 2038 [Member] | Minimum [Member]
Debt Instrument [Line Items]
Debt stated interest rate	2.60%		2.60%
Debt Payable To 2038 [Member] | Maximum [Member]
Debt Instrument [Line Items]
Debt stated interest rate	8.60%		8.80%
Industrial Revenue Bonds Payable To 2015 [Member]
Debt Instrument [Line Items]
Industrial revenue bonds payable to 2015 at 2.4%	$ 960		$ 1,246
Debt maturity date	Dec. 01, 2015		Dec. 01, 2015
Debt stated interest rate	2.40%		2.40%

[1] Consolidated Variable Interest Entities’ Assets and Liabilities included in the above balances (See Note 17):

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Discontinued Operations (Narrative) (Details) (USD $) In Millions, unless otherwise specified	9 Months Ended	12 Months Ended		12 Months Ended	1 Months Ended	12 Months Ended	1 Months Ended	12 Months Ended	9 Months Ended	12 Months Ended	9 Months Ended	12 Months Ended						9 Months Ended			12 Months Ended		9 Months Ended	12 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2013 property	Dec. 31, 2012 property	Feb. 29, 2012	Dec. 31, 2012 Shopping Centers [Member] property	Nov. 30, 2012 Industrial Properties [Member] property	Dec. 31, 2012 Industrial Properties [Member] property	May 31, 2012 Wholly-Owned Industrial Properties [Member] property	Dec. 31, 2012 Arizona [Member] property	Sep. 30, 2013 Florida [Member] property	Dec. 31, 2012 Florida [Member] property	Sep. 30, 2013 California [Member] property	Dec. 31, 2012 Colorado [Member] property	Dec. 31, 2012 Georgia [Member] property	Dec. 31, 2012 Illinois [Member] property	Dec. 31, 2012 Kansas [Member] property	Dec. 31, 2012 Louisiana [Member] property	Dec. 31, 2012 Maine [Member] property	Sep. 30, 2013 Nevada [Member] property	Sep. 30, 2013 New Mexico [Member] property	Sep. 30, 2013 North Carolina [Member] property	Dec. 31, 2012 North Carolina [Member] property	Dec. 31, 2012 Oklahoma [Member] property	Sep. 30, 2013 Tennessee [Member] property	Dec. 31, 2012 Tennessee [Member] property	Sep. 30, 2013 Texas [Member] property	Dec. 31, 2012 Texas [Member] property	Dec. 31, 2012 Virginia [Member] property
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of operating properties sold	18			27	9	54	52	1	2	6	1	2	6	1	1	2	1	1	2	3	3	1	1	1	8	55	2
Number of properties held for sale	0	0
Ownership percentage in joint ventures		75.00%	47.80%
Gross property included in discontinued operations		$ 207.5
Accumulated depreciation for property included in discontinued operations		$ 72.0
Interest expense allocated to discontinued operations	We do not allocate other consolidated interest to discontinued operations because the interest savings to be realized from the proceeds of the sale of these operations is not material.

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Share Options And Awards (Tables)

9 Months Ended

Sep. 30, 2013

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Fair Value Of Market-Based Share Awards Assumptions

The fair value of the market-based share awards was estimated on the date of grant using a Monte Carlo valuation model based on the following assumptions:

	Nine Months Ended September 30, 2013
	Minimum		Maximum
Dividend yield	0.0	%	3.9	%
Expected volatility	13.2	%	29.0	%
Expected life (in years)	NA		3
Risk-free interest rate	0.1	%	0.4	%

Status Of Unvested Restricted Share Awards

A summary of the status of unvested restricted share awards for the nine months ended September 30, 2013 is as follows:

	Unvested Restricted Share Awards		Weighted Average  Grant Date Fair  Value
Outstanding, January 1, 2013	496,571		$	23.10
Granted:
Service-based awards	102,456		29.71
Market-based awards relative to FTSE NAREIT U.S. Shopping Center Index	44,580		31.83
Market-based awards relative to three-year absolute TSR	44,580		37.49
Trust manager awards	25,623		35.23
Vested	(130,136	)	23.19
Forfeited	(6,904	)	26.65
Outstanding, September 30, 2013	576,770		$	26.54

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Impairment (Tables)

9 Months Ended

Sep. 30, 2013

Asset Impairment Charges [Abstract]

Schedule Of Impairment Charges

The following impairment charges were recorded on the following assets based on the difference between the carrying amount of the assets and the estimated fair value (see Note 19 for additional fair value information) (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2013		2012		2013		2012
Continuing operations:
Land held for development and undeveloped land (1)	$	2,358	$	—	$	2,358	$	—
Property marketed for sale or sold (2)	—		197		56		2,977
Investments in real estate joint ventures and partnerships (3)	—		—		—		6,608
Other	—		—		165		—
Total reported in continuing operations	2,358		197		2,579		9,585
Discontinued operations:
Property held for sale or sold (4)	—		139		236		5,825
Total impairment charges	2,358		336		2,815		15,410
Other financial statement caption impacted by impairment:
Equity in earnings of real estate joint ventures and partnerships, net	29		57		395		19,946
Net impact of impairment charges	$	2,387	$	393	$	3,210	$	35,356

_______________

(1) Impairment was prompted by changes in management's plans for these properties, recent comparable market transactions and/or a change in market conditions.

(2) These charges resulted from changes in management’s plans for these properties, primarily the marketing of these properties for sale. Also included in this caption are impairments associated with dispositions that did not qualify to be reported in discontinued operations.

(3) Amounts reported in 2012 were based on third party offers to buy our interests in industrial real estate joint ventures.

(4) Amounts reported were based on third party offers.

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Discontinued Operations (Tables)

9 Months Ended

Sep. 30, 2013

Discontinued Operations and Disposal Groups [Abstract]

Schedule Of Discontinued Operating Results

The operating results of these centers have been reclassified and reported as discontinued operations in the Condensed Consolidated Statements of Operations and Comprehensive Income as follows (in thousands):

	Three Months Ended September 30,						Nine Months Ended September 30,
	2013			2012			2013			2012
Revenues, net	$	2,043		$	12,141		$	15,795		$	58,299
Depreciation and amortization	(487		)	(2,350		)	(3,869		)	(12,455		)
Operating expenses	(427		)	(2,175		)	(2,973		)	(10,932		)
Real estate taxes, net	(152		)	(1,413		)	(1,414		)	(7,545		)
Impairment loss	—			(139		)	(236		)	(5,825		)
General and administrative	(1		)	(220		)	(13		)	(2,181		)
Interest, net	(434		)	(759		)	(1,373		)	(2,512		)
Provision for income taxes	(148		)	(11		)	(261		)	(386		)
Operating income from discontinued operations	394			5,074			5,656			16,463
Gain on sale of property from discontinued operations	38,214			14,826			116,226			49,724
Income from discontinued operations	$	38,608		$	19,900		$	121,882		$	66,187

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Notes Receivable From Real Estate Joint Ventures And Partnerships

9 Months Ended

Sep. 30, 2013

Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]

Notes Receivable From Real Estate Joint Ventures And Partnerships

Notes Receivable from Real Estate Joint Ventures and Partnerships

We have ownership interests in a number of real estate joint ventures and partnerships. Notes receivable from these entities bear interest ranging from approximately 2.9% to 10.0% at September 30, 2013 and 2.9% to 16.0% at December 31, 2012. These notes are due at various dates through 2017 and are generally secured by underlying real estate assets.

We believe these notes are fully collectible, and no allowance has been recorded. Interest income recognized on these notes was $.5 million and $.8 million for the three months ended September 30, 2013 and 2012, respectively, and $1.8 million and $2.2 million for the nine months ended September 30, 2013 and 2012, respectively.

In November 2012, a $16.1 million note matured and negotiations for repayment were entered into. Subsequent to September 30, 2013, the note was paid. See Note 20 for additional information.

In February 2012, we received $59.2 million in payment of our notes receivable from real estate joint ventures and partnerships, in conjunction with the sale of our 47.8% interest in an unconsolidated real estate joint venture. See Note 15 for additional information.

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Derivatives And Hedging (Summary Of Fair Value Interest Rate Contracts Activity) (Details) (Interest Expense, Net [Member], USD $) In Thousands, unless otherwise specified	3 Months Ended				9 Months Ended
	Sep. 30, 2013		Sep. 30, 2012		Sep. 30, 2013		Sep. 30, 2012
Interest Expense, Net [Member]
Derivative [Line Items]
Gain (Loss) on Contracts	$ (482)		$ 3		$ (3,586)		$ 64
Gain (Loss) on Borrowings	482		(3)		3,586		(64)
Net Settlements and Accruals on Contracts	1,015		1,001		3,065		3,001
Amount of Gain (Loss) Recognized in Income	$ 1,015	[1]	$ 1,001	[1]	$ 3,065	[1]	$ 3,001	[1]

[1] No ineffectiveness was recognized during the respective period.

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Summary Of Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2013

Accounting Policies [Abstract]

Schedule Of Restricted Deposits And Mortgage Escrows

Our restricted deposits and mortgage escrows consist of the following (in thousands):

	September 30, 2013		December 31, 2012
Restricted cash (1)	$	52,567	$	36,944
Mortgage escrows	4,901		7,152
Total	$	57,468	$	44,096

_______________

(1) The increase between the periods presented is primarily attributable to $50.3 million placed in a qualified escrow account, less the use of $30.7 million for the purpose of completing like-kind exchange transactions.

Schedule Of Accumulated Other Comprehensive Loss

Changes in accumulated other comprehensive loss by component consists of the following (in thousands):

	Loss on Investments		(Gain) Loss on Cash Flow Hedges				Defined Benefit Pension Plan				Total
Balance, December 31, 2012	$	—	$	7,489			$	17,254			$	24,743
Change excluding amounts reclassified from accumulated other comprehensive income	34		(6,735		)		(103		)		(6,804		)
Amounts reclassified from accumulated other comprehensive income	—		(1,802		)	(1)	(990		)	(2)	(2,792		)
Net other comprehensive income	34		(8,537		)		(1,093		)		(9,596		)
Balance, September 30, 2013	$	34	$	(1,048	)		$	16,161			$	15,147

_______________

(1) This reclassification component is included in interest expense (see Note 7 for additional information).

(2) This reclassification component is included in the computation of net periodic benefit cost (see Note 14 for additional information).

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Business Combinations (Tables)

9 Months Ended

Sep. 30, 2013

Business Combinations [Abstract]

Transactions Related To Acquisitions

The following table summarizes the transactions related to these acquisitions, including the assets acquired and liabilities assumed as indicated (in thousands):

	December 31, 2012
Fair value of our equity interest before acquisition	$	3,825
Fair value of consideration transferred	218,481			(1)
Amounts recognized for assets and liabilities assumed:
Assets:
Property	$	195,377
Unamortized debt and lease costs	36,787
Restricted deposits and mortgage escrows	395
Other, net	3,742
Liabilities:
Debt, net	(46,923		)	(2)
Accounts payable and accrued expenses	(2,250		)
Other, net	(5,899		)
Total net assets	$	181,229
Acquisition costs (included in operating expenses)	$	1,391
Gain on acquisition	1,869

_______________

(1) Includes assumption of debt totaling $37.8 million.

(2) Represents the fair value of debt, which includes $6.3 million that was previously recorded.

Pro Forma Impact Of Acquisitions

The following table summarizes the pro forma impact of these transactions as if they had been consolidated or acquired on January 1, 2012, the earliest year presented, as follows (in thousands, except per share amounts):

	Pro Forma (1)
	Three Months Ended September 30, 2012		Nine Months Ended September 30, 2012
Revenues	$	123,544	$	360,501
Net income	42,041		97,052
Net income attributable to common shareholders	31,398		65,888
Earnings per share – basic	0.26		0.55
Earnings per share – diluted	0.26		0.54

_______________

(1) There are no non-recurring pro forma adjustments included within or excluded from the amounts in the preceding table.

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Preferred Shares Of Beneficial Interest

9 Months Ended

Sep. 30, 2013

Class of Stock Disclosures [Abstract]

Preferred Shares Of Beneficial Interest

Preferred Shares of Beneficial Interest

We issued $150 million and $200 million of depositary shares on June 6, 2008 and January 30, 2007, respectively. Each depositary share represents one-hundredth of a Series F Cumulative Redeemable Preferred Share. The depositary shares are redeemable at our option, in whole or in part, for cash at a redemption price of $25 per depositary share, plus any accrued and unpaid dividends thereon. The depositary shares are not convertible or exchangeable for any of our other property or securities. The Series F Preferred Shares pay a 6.5% annual dividend and have a liquidation value of $2,500 per share. The Series F Preferred Shares issued in June 2008 were issued at a discount, resulting in an effective rate of 8.25%.

We exercised our option to redeem a portion of the Series F depositary shares totaling $200 million on June 5, 2013. Upon the redemption of these shares, a portion of the related original issuance costs totaling $15.7 million was reported as a deduction in arriving at net income attributable to common shareholders. The outstanding $150 million Series F Preferred Shares pay a 6.5% annual dividend and have a liquidation value of $2,500 per share. Of these outstanding shares, $64.3 million were issued at a discount and have an effective rate of 8.25%.

In April 2003, we issued $75 million of depositary shares with each share representing one-thirtieth of a Series D Cumulative Redeemable Preferred Share. The depositary shares were redeemed on March 18, 2013, at our option, for cash at a redemption price of $25 per depositary share or $75 million, plus accrued and unpaid dividends thereon. Upon the redemption of these shares, the related original issuance costs of $2.2 million were reported as a deduction in arriving at net income attributable to common shareholders. The Series D Preferred Shares paid a 6.75% annual dividend, had a liquidation value of $750 per share and were not convertible or exchangeable for any of our property or securities.

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Employee Benefit Plans (Schedule Of Net Periodic Benefit Cost) (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 285	$ 266	$ 993	$ 1,048
Interest cost	344	319	1,197	1,257
Expected return on plan assets	(545)	(453)	(1,898)	(1,787)
Prior service cost	0	(24)	0	(94)
Recognized loss	284	317	990	1,251
Total	$ 368	$ 425	$ 1,282	$ 1,675

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Investment In Real Estate Joint Ventures And Partnerships

9 Months Ended

Sep. 30, 2013

Equity Method Investments and Joint Ventures [Abstract]

Investment In Real Estate Joint Ventures And Partnerships

Investment in Real Estate Joint Ventures and Partnerships

We own interests in real estate joint ventures or limited partnerships and have tenancy-in-common interests in which we exercise significant influence, but do not have financial and operating control. We account for these investments using the equity method, and our interests range from 20% to 75% for the 2013 periods presented and 10% to 75% for the 2012 periods presented. Combined condensed financial information of these ventures (at 100%) is summarized as follows (in thousands):

	September 30, 2013			December 31, 2012
Combined Condensed Balance Sheets
ASSETS
Property	$	1,507,115		$	1,631,694
Accumulated depreciation	(284,101		)	(273,591		)
Property, net	1,223,014			1,358,103
Other assets, net	159,105			161,344
Total	$	1,382,119		$	1,519,447
LIABILITIES AND SHAREHOLDERS' EQUITY
Debt, net (primarily mortgages payable)	$	467,908		$	468,841
Amounts payable to Weingarten Realty Investors and Affiliates	102,390			109,931
Other liabilities, net	35,083			34,157
Total	605,381			612,929
Accumulated equity	776,738			906,518
Total	$	1,382,119		$	1,519,447

	Three Months Ended September 30,				Nine Months Ended September 30,
	2013		2012		2013		2012
Combined Condensed Statements of Operations
Revenues, net	$	40,804	$	49,726	$	124,064	$	149,599
Expenses:
Depreciation and amortization	11,343		15,071		34,922		46,688
Interest, net	7,131		8,956		22,091		27,003
Operating	7,298		9,069		20,859		26,265
Real estate taxes, net	4,739		6,322		14,335		18,719
General and administrative	187		420		637		1,006
Provision for income taxes	63		81		211		249
Impairment loss	59		283		1,887		96,781
Total	30,820		40,202		94,942		216,711
Operating income (loss)	$	9,984	$	9,524	$	29,122	$	(67,112	)

Our investment in real estate joint ventures and partnerships, as reported in our Condensed Consolidated Balance Sheets, differs from our proportionate share of the entities' underlying net assets due to basis differences, which arose upon the transfer of assets to the joint ventures. The net positive basis differences, which totaled $5.9 million and $1.6 million at September 30, 2013 and December 31, 2012, respectively, are generally amortized over the useful lives of the related assets.

Our real estate joint ventures and partnerships have determined that the carrying amount of certain properties was not recoverable and that the properties should be written down to fair value. For the threeand nine months ended September 30, 2013, our unconsolidated real estate joint ventures and partnerships recorded an impairment charge of $.1 millionand $1.9 million, respectively, on various properties that have been marketed and sold during the period. There was $.3 million and $96.8 million of impairment recorded for the three and nine months ended September 30, 2012, respectively.

Fees earned by us for the management of these real estate joint ventures and partnerships totaled $1.2 million and $1.5 million for the three months ended September 30, 2013 and 2012, respectively, and $3.8 million and $4.8 million for the nine months ended September 30, 2013 and 2012, respectively.

During 2013, the final two industrial properties in an unconsolidated joint venture were sold. This joint venture was liquidated resulting in an $11.5 million gain on our investment. Also, two shopping centers were sold, and the gross sales proceeds from the disposition of these four properties totaled $11.7 million. Furthermore, we sold our 10% interest in two unconsolidated tenancy-in-common arrangements for approximately $8.9 million that we previously accounted for under the equity method. See Note 20 for subsequent events.

During 2013, we acquired a 51% unconsolidated real estate joint venture interest in a shopping center for approximately $16.5 million.

In August 2012, we acquired a partner's 79.6% interest in an unconsolidated tenancy-in-common arrangement for approximately $29.6 million that we had previously accounted for under the equity method and included the assumption of debt of $24.5 million. This transaction resulted in the consolidation of the property in our consolidated financial statements.

During 2012, our interest in 19 industrial properties held in unconsolidated joint ventures, in which we are a partner, were sold through either a direct sale by the joint venture or the sale of our interest. Gross sales proceeds, including the assumption of debt, from these transactions totaled $210.4 million.

In February 2012, we sold a 47.8% unconsolidated joint venture interest in a Colorado development project to our partner with gross sales proceeds totaling $29.1 million, which includes the assumption of our share of debt.

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Condensed Consolidated Statements Of Equity (USD $) In Thousands, unless otherwise specified		Total	Preferred Shares Of Beneficial Interest [Member]	Common Shares Of Beneficial Interest [Member]	Additional Paid-In Capital [Member]	Net Income Less Than Accumulated Dividends [Member]	Accumulated Other Comprehensive Loss [Member]	Noncontrolling Interests [Member]	6.75% Series D Preferred Shares [Member]	6.75% Series D Preferred Shares [Member] Preferred Shares Of Beneficial Interest [Member]	6.75% Series D Preferred Shares [Member] Additional Paid-In Capital [Member]	6.75% Series D Preferred Shares [Member] Net Income Less Than Accumulated Dividends [Member]	6.5% Series F Preferred Shares [Member]	6.5% Series F Preferred Shares [Member] Preferred Shares Of Beneficial Interest [Member]	6.5% Series F Preferred Shares [Member] Additional Paid-In Capital [Member]	6.5% Series F Preferred Shares [Member] Net Income Less Than Accumulated Dividends [Member]
Balance at Dec. 31, 2011		$ 1,823,582	$ 8	$ 3,641	$ 1,983,978	$ (304,504)	$ (27,743)	$ 168,202
Increase (Decrease) in Equity [Roll Forward]
Net Income		97,446				92,889		4,557
Shares issued under benefit plans		11,503		17	11,486
Dividends declared - common shares	[1]	(105,466)				(105,466)
Dividends declared - preferred shares	[2]	(24,639)				(24,639)
Distributions to noncontrolling interests		(10,119)						(10,119)
Contributions from noncontrolling interests		2,123						2,123
Other comprehensive income		1,804					1,804
Other, net		617			1,766	(1,968)		819
Balance at Sep. 30, 2012		1,796,851	8	3,658	1,997,230	(343,688)	(25,939)	165,582
Balance at Dec. 31, 2012		1,740,155	7	3,663	1,934,183	(335,980)	(24,743)	163,025
Increase (Decrease) in Equity [Roll Forward]
Net Income		211,384				170,328		41,056
Redemption of preferred shares									(75,000)	(3)	(72,755)	(2,242)	(200,000)	(2)	(184,296)	(15,702)
Shares issued under benefit plans		12,493		20	12,473
Dividends declared - common shares	[1]	(111,509)				(111,509)
Dividends declared - preferred shares	[2]	(14,760)				(14,760)
Distributions to noncontrolling interests		(13,455)						(13,455)
Contributions from noncontrolling interests		33,884						33,884
Other comprehensive income		9,596					9,596
Other, net		1,501			1,082	(703)		1,122
Balance at Sep. 30, 2013		$ 1,594,289	$ 2	$ 3,683	$ 1,690,687	$ (310,568)	$ (15,147)	$ 225,632

[1] Common dividend per share was $.915 and $.870 for the nine months ended September 30, 2013 and 2012, respectively.

[2] Series D preferred dividend per share was $13.08 and $37.97 for the nine months ended September 30, 2013 and 2012, respectively. Series E preferred dividend per share was $130.31 for the nine months ended September 30, 2012. Series F preferred dividend per share was $119.62 and $121.88 for the nine months ended September 30, 2013 and 2012, respectively.

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Notes Receivable From Real Estate Joint Ventures And Partnerships (Details) (USD $)	1 Months Ended	3 Months Ended		9 Months Ended		12 Months Ended
	Feb. 29, 2012	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Dec. 31, 2012	Nov. 30, 2012
Notes Receivable From Real Estate Joint Ventures And Partnerships [Line Items]
Interest rate on notes receivable - range minimum				2.90%		2.90%
Interest rate on notes receivable - range maximum				10.00%		16.00%
Notes receivable due at various dates through				Jun. 30, 2017		Jun. 30, 2014
Allowance for uncollectible notes receivable		$ 0		$ 0		$ 0
Interest income on notes receivable		500,000	800,000	1,800,000	2,200,000
Notes receivable from real estate joint ventures and partnerships, currently due							16,100,000
Proceeds received for notes receivable	$ 59,200,000			$ 7,224,000	$ 74,296,000
Ownership percentage in joint ventures	47.80%					75.00%

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Property (Narrative) (Details) (USD $) In Millions, unless otherwise specified	9 Months Ended
	Sep. 30, 2013 property
Real Estate Investment Property [Line Items]
Number of operating properties acquired	2
Gross payments to acquire real estate	$ 73.1
Number of operating properties sold	18
Proceeds from sale and disposition of property	219.0
Gain on sale of property	$ 116.8

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Business Combinations (Pro Forma Impact Of Acquisitions) (Details) (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2012		Sep. 30, 2012
Business Acquisition [Line Items]
Revenues, Pro Forma	$ 123,544	[1]	$ 360,501	[1]
Net income, Pro Forma	42,041	[1]	97,052	[1]
Net income attributable to common shareholders, Pro Forma	$ 31,398	[1]	$ 65,888	[1]
Earnings per share - basic, Pro Forma	$ 0.26	[1]	$ 0.55	[1]
Earnings per share - diluted, Pro Forma	$ 0.26	[1]	$ 0.54	[1]

[1] There are no non-recurring pro forma adjustments included within or excluded from the amounts in the preceding table.

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Debt (Tables)

9 Months Ended

Sep. 30, 2013

Debt Disclosure [Abstract]

Schedule Of Debt

Our debt consists of the following (in thousands):

	September 30, 2013		December 31, 2012
Debt payable to 2038 at 2.6% to 8.6% in 2013 and 2.6% to 8.8% in 2012	$	2,083,363	$	2,041,709
Unsecured notes payable under credit facilities	114,500		66,000
Debt service guaranty liability	74,075		74,075
Obligations under capital leases	21,000		21,000
Industrial revenue bonds payable to 2015 at 2.4%	960		1,246
Total	$	2,293,898	$	2,204,030

Grouping Of Debt Between Fixed And Variable As Well As Secured And Unsecured

The grouping of total debt between fixed and variable-rate as well as between secured and unsecured is summarized below (in thousands):

	September 30, 2013		December 31, 2012
As to interest rate (including the effects of interest rate contracts):
Fixed-rate debt	$	2,013,253	$	1,992,599
Variable-rate debt	280,645		211,431
Total	$	2,293,898	$	2,204,030
As to collateralization:
Unsecured debt	$	1,499,297	$	1,270,742
Secured debt	794,601		933,288
Total	$	2,293,898	$	2,204,030

Schedule Of Credit Facilities

The following table discloses certain information regarding our unsecured notes payable under our credit facilities (in thousands, except percentages):

	September 30, 2013			December 31, 2012
Unsecured revolving credit facility:
Balance outstanding	$	100,000		$	30,000
Available balance	397,821			467,571
Letter of credit outstanding under facility	2,179			2,429
Variable interest rate (excluding facility fee)	0.9		%	1.1		%
Unsecured and uncommitted overnight facility:
Balance outstanding	$	14,500		$	36,000
Variable interest rate	1.5		%	1.5		%
Both facilities:
Maximum balance outstanding during the period	$	265,500		$	303,100
Weighted average balance	79,060			157,447
Year-to-date weighted average interest rate (excluding facility fee)	1.1		%	1.3		%

Principal Payments Of Debt

Scheduled principal payments on our debt (excluding $114.5 million due under our credit facilities, $21.0 million of certain capital leases, $6.3 million fair value of interest rate contracts, $(2.4) million net premium/(discount) on debt, $2.4 million of non-cash debt-related items, and $74.1 million debt service guaranty liability) are due during the following years (in thousands):

2013 remaining	$	65,727
2014	468,858
2015	275,998
2016	249,283
2017	141,864
2018	64,157
2019 (1)	153,380
2020	3,342
2021	2,278
2022	304,815
Thereafter	348,264
Total	$	2,077,966

_______________

(1) Includes $100 million of our 8.1% senior unsecured notes due 2019 which may be redeemed by us at any time on or after September 2014 at our option.

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Business Combinations (Transactions Related to Acquisitions) (Details) (USD $)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Dec. 31, 2012
Business Acquisition [Line Items]
Fair value of our equity interest before acquisition					$ 3,825,000
Fair value of consideration transferred					218,481,000	[1]
Assets:
Property					195,377,000
Unamortized debt and lease costs					36,787,000
Restricted deposits and mortgage escrows					395,000
Other, net					3,742,000
Liabilities:
Debt, net					(46,923,000)	[2]
Accounts payable and accrued expenses					(2,250,000)
Other, net					(5,899,000)
Total net assets					181,229,000
Acquisition costs (included in operating expenses)					1,391,000
Gain on acquisition	0	1,869,000	0	1,869,000	1,869,000
Debt assumption					37,800,000
Debt previously recorded					$ 6,300,000

[1] Includes assumption of debt totaling $37.8 million.

[2] Represents the fair value of debt, which includes $6.3 million that was previously recorded.

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Discontinued Operations (Schedule Of Discontinued Operating Results) (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenues, net	$ 2,043	$ 12,141	$ 15,795	$ 58,299
Depreciation and amortization	(487)	(2,350)	(3,869)	(12,455)
Operating expenses	(427)	(2,175)	(2,973)	(10,932)
Real estate taxes, net	(152)	(1,413)	(1,414)	(7,545)
Impairment loss	0	(139)	(236)	(5,825)
General and administrative	(1)	(220)	(13)	(2,181)
Interest, net	(434)	(759)	(1,373)	(2,512)
Provision for income taxes	(148)	(11)	(261)	(386)
Operating income from discontinued operations	394	5,074	5,656	16,463
Gain on sale of property from discontinued operations	38,214	14,826	116,226	49,724
Income from Discontinued Operations	$ 38,608	$ 19,900	$ 121,882	$ 66,187

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Derivatives And Hedging (Schedule Of Interest Rate Contracts Reported At Fair Value) (Details) (USD $) In Thousands, unless otherwise specified	Sep. 30, 2013	Dec. 31, 2012
Derivatives, Fair Value [Line Items]
Derivative assets	$ 12,844	$ 9,926
Derivative liabilities	537	768
Other Assets, Net [Member] | Interest Rate Contracts [Member]
Derivatives, Fair Value [Line Items]
Derivative assets	12,844	9,926
Other Liabilities, Net [Member] | Interest Rate Contracts [Member]
Derivatives, Fair Value [Line Items]
Derivative liabilities	$ 537	$ 768

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Fair Value Measurements (Assets And Liabilities Measured On Recurring Basis) (Details) (USD $) In Thousands, unless otherwise specified	Sep. 30, 2013	Dec. 31, 2012
Fair Value Measurements [Line Items]
Derivative assets	$ 12,844	$ 9,926
Fair Value, Measurements, Recurring [Member]
Fair Value Measurements [Line Items]
Investments, mutual funds	7,034
Total assets	37,635	25,956
Total liabilities	18,294	16,798
Fair Value, Measurements, Recurring [Member] | Grantor Trusts [Member]
Fair Value Measurements [Line Items]
Investments, grantor trusts	17,757	16,030
Deferred compensation plan obligations	17,757	16,030
Fair Value, Measurements, Recurring [Member] | Interest Rate Contracts [Member]
Fair Value Measurements [Line Items]
Derivative assets	12,844	9,926
Derivative liabilities	537	768
Fair Value, Measurements, Recurring [Member] | Quoted Prices In Active Markets For Identical Assets And Liabilities (Level 1) [Member]
Fair Value Measurements [Line Items]
Investments, mutual funds	7,034
Total assets	24,791	16,030
Total liabilities	17,757	16,030
Fair Value, Measurements, Recurring [Member] | Quoted Prices In Active Markets For Identical Assets And Liabilities (Level 1) [Member] | Grantor Trusts [Member]
Fair Value Measurements [Line Items]
Investments, grantor trusts	17,757	16,030
Deferred compensation plan obligations	17,757	16,030
Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member]
Fair Value Measurements [Line Items]
Total assets	12,844	9,926
Total liabilities	537	768
Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | Interest Rate Contracts [Member]
Fair Value Measurements [Line Items]
Derivative assets	12,844	9,926
Derivative liabilities	537	768
Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member]
Fair Value Measurements [Line Items]
Total assets	0	0
Total liabilities	$ 0	$ 0

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Supplemental Cash Flow Information

9 Months Ended

Sep. 30, 2013

Supplemental Cash Flow Elements [Abstract]

Supplemental Cash Flow Information

Supplemental Cash Flow Information

Non-cash investing and financing activities are summarized as follows (in thousands):

	Nine Months Ended September 30,
	2013			2012
Accrued property construction costs	$	9,662		$	7,454
Property acquisitions and investments in unconsolidated real estate joint ventures:
Increase in property, net	18,698			16,665
Decrease in notes receivable from real estate joint ventures and partnerships	(3,636		)	—
Decrease in real estate joint ventures and partnerships - investments	(50		)	(3,825		)
Increase in restricted deposits and mortgage escrows	—			395
Increase in debt, net	21,396			40,644
Increase in security deposits	129			1,332
Increase in noncontrolling interests	—			968
Sale of property and property interest:
Decrease in property, net	—			(2,855		)
Decrease in real estate joint ventures and partnerships - investments	—			(95		)
Decrease in restricted deposits and mortgage escrows	—			(204		)
Decrease in debt, net due to debt assumption	—			(3,366		)
Decrease in security deposits	—			(11		)
Decrease in noncontrolling interests	—			(95		)

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Derivatives And Hedging

9 Months Ended

Sep. 30, 2013

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivatives And Hedging

Derivatives and Hedging

The fair value of all our interest rate contracts is reported as follows (in thousands):

	Assets			Liabilities
	Balance Sheet Location	Amount		Balance Sheet Location	Amount
Designated Hedges:
September 30, 2013	Other Assets, net	$	12,844	Other Liabilities, net	$	537
December 31, 2012	Other Assets, net	9,926		Other Liabilities, net	768

The gross presentation, the effects of offsetting under master netting agreements and the net presentation of our interest rate contracts is as follows (in thousands):

							Gross Amounts Not Offset in Balance Sheet
	Gross Amounts Recognized		Gross Amounts Offset in Balance Sheet		Net Amounts Presented in Balance Sheet		Financial Instruments		Cash Collateral Received		Net Amount
September 30, 2013
Assets	$	12,844	$	—	$	12,844	$	—	$	—	$	12,844
Liabilities	537		—		537		—		—		537
December 31, 2012
Assets	9,926		—		9,926		—		—		9,926
Liabilities	768		—		768		—		—		768

Cash Flow Hedges:

As of September 30, 2013 and December 31, 2012, we had three active interest rate contracts designated as cash flow hedges with an aggregate notional amount of $26.0 million and $26.5 million, respectively. These contracts have maturities through September 2017 and either fix or cap interest rates ranging from 2.3% to 5.0%. We have determined that these contracts are highly effective in offsetting future variable interest cash flows.

Also, at September 30, 2013, we had three forward-starting contracts with an aggregate notional amount of $150.0 million hedging future fixed-rate debt issuances. These contracts are effective in January 2014, mature in January 2024 and fix the 10-year swap rates at 2.4%. Subsequent to September 30, 2013, we settled these forward-starting contracts. See Note 20 for additional information.

As of September 30, 2013 and December 31, 2012, the balance in accumulated other comprehensive gain (loss) relating to cash flow interest rate contracts was $1.0 million and $(7.5) million, respectively, and will be reclassified to net interest expense as interest payments are made on our fixed-rate debt. Within the next 12 months, a loss of approximately $2.0 million in accumulated other comprehensive loss is expected to be amortized to net interest expense related to settled interest rate contracts.

A summary of cash flow interest rate contract hedging activity is as follows (in thousands):

Derivatives Hedging Relationships	Amount of (Gain) Loss  Recognized in Other Comprehensive Income on Derivative  (Effective Portion)			Location of Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Income	Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Income (Effective Portion)			Location of Gain (Loss) Recognized in Income on Derivative (Ineffective Portion and Amount  Excluded from Effectiveness Testing)	Amount of Gain (Loss) Recognized in Income on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing)
Three Months Ended September 30, 2013	$	293		Interest expense, net	$	(669	)	Interest expense, net	$	189
Nine Months Ended September 30, 2013	(6,735		)	Interest expense, net	(1,991		)	Interest expense, net	189
Three Months Ended September 30, 2012	49			Interest expense, net	(664		)	Interest expense, net	—
Nine Months Ended September 30, 2012	181			Interest expense, net	(1,985		)	Interest expense, net	—

Fair Value Hedges:

As of September 30, 2013 and December 31, 2012, we had four interest rate contracts, maturing through October 2017, with an aggregate notional amount of $117.1 million and $118.1 million, respectively, that were designated as fair value hedges and convert fixed interest payments at rates from 4.2% to 7.5% to variable interest payments ranging from .3% to 4.3%. We have determined that our fair value hedges are highly effective in limiting our risk of changes in the fair value of fixed-rate notes attributable to changes in interest rates.

A summary of the impact on net income for our interest rate contracts is as follows (in thousands):

	Gain (Loss)  on Contracts			Gain (Loss)  on Borrowings			Net Settlements and Accruals on Contracts		Amount of Gain  (Loss) Recognized in Income (1)
Three Months Ended September 30, 2013
Interest expense, net	$	(482	)	$	482		$	1,015	$	1,015
Nine Months Ended September 30, 2013
Interest expense, net	(3,586		)	3,586			3,065		3,065
Three Months Ended September 30, 2012
Interest expense, net	3			(3		)	1,001		1,001
Nine Months Ended September 30, 2012
Interest expense, net	64			(64		)	3,001		3,001

_______________

(1) No ineffectiveness was recognized during the respective period.

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Earnings Per Share (Components Of Earnings Per Common Share - Basic And Diluted) (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Continuing Operations:
Income from continuing operations	$ 23,618	$ 21,812	$ 88,932	$ 30,400
Gain on sale of property	163	335	570	859
Net income attributable to noncontrolling interests	(1,948)	(1,505)	(4,000)	(3,726)
Dividends on preferred shares	(2,710)	(8,869)	(15,463)	(26,607)
Redemption costs of preferred shares	0	0	(17,944)	0
Income from continuing operations attributable to common shareholders – basic and diluted	19,123	11,773	52,095	926
Discontinued Operations:
Income from discontinued operations	38,608	19,900	121,882	66,187
Net loss (income) attributable to noncontrolling interests	101	(269)	(37,056)	(831)
Income from discontinued operations attributable to common shareholders - basic and diluted	$ 38,709	$ 19,631	$ 84,826	$ 65,356
Denominator:
Weighted average shares outstanding - basic	121,359	120,766	121,235	120,637
Effect of dilutive securities:
Share options and awards	1,172	1,078	1,206	1,016
Weighted average shares outstanding - diluted	122,531	121,844	122,441	121,653

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Employee Benefit Plans

9 Months Ended

Sep. 30, 2013

Compensation and Retirement Disclosure [Abstract]

Employee Benefit Plans

Employee Benefit Plans

Defined Benefit Plans:

We sponsor a noncontributory qualified retirement plan. The components of net periodic benefit cost for this plan are as follows (in thousands):

	Three Months Ended September 30,						Nine Months Ended September 30,
	2013			2012			2013			2012
Service cost	$	285		$	266		$	993		$	1,048
Interest cost	344			319			1,197			1,257
Expected return on plan assets	(545		)	(453		)	(1,898		)	(1,787		)
Prior service cost	—			(24		)	—			(94		)
Recognized loss	284			317			990			1,251
Total	$	368		$	425		$	1,282		$	1,675

For the nine months ended September 30, 2013 and 2012, we contributed $1.8 million and $2.5 million, respectively, to the qualified retirement plan. Currently, we do not anticipate making any additional contributions to this plan during 2013.

Defined Contribution Plans:

Compensation expense related to our defined contribution plans was $.8 million and $.6 million for three months ended September 30, 2013 and 2012, respectively. For the nine months ended September 30, 2013 and 2012, we recognized compensation expense of $2.5 million and $2.4 million, respectively.

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Earnings Per Share

9 Months Ended

Sep. 30, 2013

Earnings Per Share [Abstract]

Earnings Per Share

Earnings Per Share

Earnings per common share – basic is computed using net income attributable to common shareholders and the weighted average number of shares outstanding – basic. Earnings per common share – diluted includes the effect of potentially dilutive securities. Income from continuing operations attributable to common shareholders includes gain on sale of property in accordance with Securities and Exchange Commission guidelines. The components of earnings per common share – basic and diluted for the prior periods have been recast to conform with discontinued operations. Earnings per common share – basic and diluted components for the periods indicated are as follows (in thousands):

	Three Months Ended September 30,						Nine Months Ended September 30,
	2013			2012			2013			2012
Numerator:
Continuing Operations:
Income from continuing operations	$	23,618		$	21,812		$	88,932		$	30,400
Gain on sale of property	163			335			570			859
Net income attributable to noncontrolling interests	(1,948		)	(1,505		)	(4,000		)	(3,726		)
Dividends on preferred shares	(2,710		)	(8,869		)	(15,463		)	(26,607		)
Redemption costs of preferred shares	—			—			(17,944		)	—
Income from continuing operations attributable to common shareholders – basic and diluted	$	19,123		$	11,773		$	52,095		$	926
Discontinued Operations:
Income from discontinued operations	$	38,608		$	19,900		$	121,882		$	66,187
Net loss (income) attributable to noncontrolling interests	101			(269		)	(37,056		)	(831		)
Income from discontinued operations attributable to common shareholders – basic and diluted	$	38,709		$	19,631		$	84,826		$	65,356
Denominator:
Weighted average shares outstanding - basic	121,359			120,766			121,235			120,637
Effect of dilutive securities:
Share options and awards	1,172			1,078			1,206			1,016
Weighted average shares outstanding - diluted	122,531			121,844			122,441			121,653

Anti-dilutive securities of our common shares, which are excluded from the calculation of earnings per common share – diluted, are as follows (in thousands):

	Three Months Ended September 30,		Nine Months Ended September 30,
	2013	2012	2013	2012
Share options (1)	1,929	2,359	1,929	2,359
Operating partnership units	1,555	1,582	1,555	1,583
Total anti-dilutive securities	3,484	3,941	3,484	3,942

_______________

(1) Exclusion results as exercise prices were greater than the average market price for each respective period.

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Document And Entity Information	9 Months Ended
	Sep. 30, 2013	Oct. 31, 2013
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2013
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2013
Entity Registrant Name	WEINGARTEN REALTY INVESTORS /TX/
Entity Central Index Key	0000828916
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		121,944,210

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Fair Value Measurements (Assets Measured On Nonrecurring Basis) (Details) (USD $)	9 Months Ended		12 Months Ended
	Sep. 30, 2013		Dec. 31, 2012
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Property, net	$ 3,248,430,000	[1]	$ 3,359,011,000	[1]
Investment in Real Estate Joint Ventures and Partnerships, net	281,203,000		289,049,000
Fair Value, Measurements, Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	11,876,000		43,910,000
Total Gains (Losses)	(2,358,000)	[2]	(9,579,000)	[3]
Fair Value, Measurements, Nonrecurring [Member] | Impaired Property [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Property	11,876,000	[4]	19,679,000	[5]
Total Gains (Losses)	(2,358,000)	[2],[4]	(2,971,000)	[3],[5]
Property, net	14,300,000		22,400,000
Cost to sell property			300,000
Fair Value, Measurements, Nonrecurring [Member] | Impaired Investment In Real Estate Joint Ventures And Partnerships [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in real estate joint ventures and partnerships			24,231,000	[6]
Total Gains (Losses)			(6,608,000)	[3],[6]
Investment in Real Estate Joint Ventures and Partnerships, net			30,800,000
Fair Value, Measurements, Nonrecurring [Member] | Quoted Prices In Active Markets For Identical Assets And Liabilities (Level 1) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	0		0
Fair Value, Measurements, Nonrecurring [Member] | Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	3,300,000		30,004,000
Fair Value, Measurements, Nonrecurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | Impaired Property [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Property	3,300,000	[4]	5,773,000	[5]
Fair Value, Measurements, Nonrecurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | Impaired Investment In Real Estate Joint Ventures And Partnerships [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in real estate joint ventures and partnerships			24,231,000	[6]
Fair Value, Measurements, Nonrecurring [Member] | Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	8,576,000		13,906,000
Fair Value, Measurements, Nonrecurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Impaired Property [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Property	$ 8,576,000	[4]	$ 13,906,000	[5]

[1] Consolidated Variable Interest Entities’ Assets and Liabilities included in the above balances (See Note 17):

[2] Total gains (losses) exclude impairments on disposed assets because they are no longer held by us.

[3] Total gains (losses) are reflected throughout 2012 and exclude impairments on disposed assets because they are no longer held by us.

[4] In accordance with our policy of evaluating and recording impairments on the disposal of long-lived assets, property with a carrying amount of $14.3 million was written down to a fair value of $11.9 million, resulting in a loss of $2.4 million, which was included in earnings for the period. Management’s estimate of the fair value of these properties was determined using bona fide purchase offer for the Level 2 inputs. See the quantitative information about the significant unobservable inputs used for our Level 3 fair value measurements table below.

[5] In accordance with our policy of evaluating and recording impairments on the disposal of long-lived assets, property with a carrying amount of $22.4 million was written down to a fair value of $19.7 million less costs to sell of $.3 million, resulting in a loss of $3.0 million, which was included in earnings for the period. Management’s estimate of fair value of these properties was determined using a bona fide purchase offer for the Level 2 inputs. See the quantitative information about the significant unobservable inputs used for our Level 3 fair value measurements table below.

[6] Our net investment in real estate joint ventures and partnerships with a carrying amount of $30.8 million was written down to a fair value of $24.2 million, resulting in a loss of $6.6 million, which was included in earnings for the period. Management’s estimate of fair value of this investment was determined using the weighted average of the bona fide purchase offers received for the Level 2 inputs.

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Share Options And Awards

9 Months Ended

Sep. 30, 2013

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Share Options And Awards

Share Options and Awards

During 2013, we granted restricted share awards incorporating both service-based and market-based measures to promote share ownership among the participants and to emphasize the importance of total shareholder return ("TSR"). The terms of each grant vary depending upon the participant's responsibilities and position within the Company. We categorize these share awards as either service-based share awards or market-based share awards. All awards were valued at the fair market value on the date of grant and earn dividends throughout the vesting period. Compensation expense is measured at the grant date and recognized over the vesting period. All share awards are awarded subject to the participant’s continued employment with us.

The fair value of the market-based share awards was estimated on the date of grant using a Monte Carlo valuation model based on the following assumptions:

	Nine Months Ended September 30, 2013
	Minimum		Maximum
Dividend yield	0.0	%	3.9	%
Expected volatility	13.2	%	29.0	%
Expected life (in years)	NA		3
Risk-free interest rate	0.1	%	0.4	%

A summary of the status of unvested restricted share awards for the nine months ended September 30, 2013 is as follows:

	Unvested Restricted Share Awards		Weighted Average  Grant Date Fair  Value
Outstanding, January 1, 2013	496,571		$	23.10
Granted:
Service-based awards	102,456		29.71
Market-based awards relative to FTSE NAREIT U.S. Shopping Center Index	44,580		31.83
Market-based awards relative to three-year absolute TSR	44,580		37.49
Trust manager awards	25,623		35.23
Vested	(130,136	)	23.19
Forfeited	(6,904	)	26.65
Outstanding, September 30, 2013	576,770		$	26.54

As of September 30, 2013 and December 31, 2012, there was approximately $4.7 millionof total unrecognized compensation cost related to unvested restricted shares for both periods, which is expected to be amortized over a weighted average of 1.7 and 1.9 years, respectively.

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Derivatives And Hedging (Summary Of Cash Flow Interest Rate Contract Hedging Activity) (Details) (Cash Flow Hedges [Member], Interest Rate Contracts [Member], USD $) In Thousands, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Derivative Instruments, Gain (Loss) [Line Items]
Amount of (Gain) Loss Recognized in Other Comprehensive Income on Derivative (Effective Portion)	$ 293	$ 49	$ (6,735)	$ 181
Interest Expense, Net [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Income (Effective Portion)	(669)	(664)	(1,991)	(1,985)
Amount of Gain (Loss) Recognized in Income on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing)	$ 189	$ 0	$ 189	$ 0

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Derivatives And Hedging (Offsetting Of Derivative Assets And Liabilities) (Details) (USD $) In Thousands, unless otherwise specified	Sep. 30, 2013	Dec. 31, 2012
Offsetting Of Derivative Assets And Liabilities [Line Items]
Gross Amounts Recognized, Assets	$ 12,844	$ 9,926
Gross Amounts Offset in Balance Sheet, Assets	0	0
Net Amounts Presented in Balance Sheet, Assets	12,844	9,926
Gross Amount Not Offset in Balance Sheet, Financial Instruments, Assets	0	0
Gross Amount Not Offset in Balance Sheet, Cash Collateral Received, Assets	0	0
Net Amount, Assets	12,844	9,926
Gross Amounts Recognized, Liabilities	537	768
Gross Amounts Offset in Balance Sheet, Liabilities	0	0
Net Amounts Presented in Balance Sheet, Liabilities	537	768
Gross Amount Not Offset in Balance Sheet, Financial Instruments, Liabilities	0	0
Gross Amount Not Offset in Balance Sheet, Cash Collateral Received, Liabilities	0	0
Net Amount, Liabilities	$ 537	$ 768

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Fair Value Measurements (Schedule Of Fair Value Disclosures) (Details) (USD $) In Thousands, unless otherwise specified	Sep. 30, 2013	Dec. 31, 2012
Carrying Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes receivable from real estate joint ventures and partnerships	$ 84,142	$ 89,776
Tax increment revenue bonds	25,850	26,505
Fair Value [Member] | Fair Value Using Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes receivable from real estate joint ventures and partnerships	85,897	93,572
Tax increment revenue bonds	25,850	26,505
Fixed-Rate Debt [Member] | Carrying Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	2,013,253	1,992,599
Fixed-Rate Debt [Member] | Fair Value [Member] | Fair Value Using Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	2,055,495	2,094,122
Variable-Rate Debt [Member] | Carrying Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	280,645	211,431
Variable-Rate Debt [Member] | Fair Value [Member] | Fair Value Using Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	$ 289,560	$ 223,759