Subsequent Events

3 Months Ended

Mar. 31, 2015

Subsequent Events [Abstract]

Subsequent Events

Subsequent Events

In April 2015, we called our remaining outstanding 6.5% Series F Cumulative Redeemable Preferred Shares of Beneficial Interest with an aggregate redemption value of $150 million, which will settle on May 8, 2015 and will be funded through existing resources and may include any or a combination of cash on hand, including proceeds from our ATM program, and borrowings under our revolving credit facilities. Upon the redemption of these shares, we expect the related original issuance costs of approximately $9.8 million to be reported as a deduction in arriving at net income attributable to common shareholders.

Subsequent to March 31, 2015, we acquired one center in Florida with a gross purchase price of $53.5 million and sold two centers and other property with aggregate gross sales proceeds totaling $9.3 million, which were owned by us either directly or through our interest in real estate joint ventures or partnerships. We anticipate that minimal impairment losses will be realized associated with these dispositions, and we have not completed the accounting for the recent acquisition, but anticipate that the purchase price will primarily be allocated to building, land and other identifiable intangible assets and liabilities.

Also, subsequent to March 31, 2015, we entered into two forward-starting contracts with an aggregate notional amount of $215 million hedging future fixed-rate debt issuances. These contracts are effective in May 2015, mature in May 2025 and fix the 10-year swap rates at 2.0% per annum.