Investments in and Advances to Joint Ventures (Tables)

12 Months Ended

Dec. 31, 2015

Schedule Of Equity Method Investments [Line Items]

Summary of Company's Equity Method Joint Ventures Included in Investments in and Advances

The Company’s equity method joint ventures, which are included in Investments in and Advances to Joint Ventures in the Company’s consolidated balance sheet at December 31, 2015, are as follows:

Unconsolidated Real Estate Ventures	Effective Ownership Percentage		Assets Owned
BRE DDR Retail Holdings III		5.0%	56 shopping centers in several states
BRE DDR Retail Holdings IV	5.0		6 shopping centers in several states
DDRTC Core Retail Fund, LLC	15.0		25 shopping centers in several states
DDR Domestic Retail Fund I	20.0		55 grocery-anchored retail centers in several states
DDR – SAU Retail Fund, LLC	20.0		23 grocery-anchored retail centers in several states
Other Joint Venture Interests	25.75–79.45		3 shopping centers in 2 states

Service Fees and Income Earned by Company

Service fees and income earned by the Company through management, financing, leasing and development activities performed related to all of the Company’s unconsolidated joint ventures are as follows (in millions):

	For the Year Ended December 31,
	2015		2014		2013
Management and other fees	$	26.0	$	24.9	$	29.3
Development fees and leasing commissions		6.8		6.4		10.0
Interest income		26.0		11.0		16.1

Schedule of Business Acquisitions

In 2015 and 2014, the Company acquired the following shopping centers (in millions):

Location or Transaction	Date Acquired	Purchase Price		Face Value of Mortgage Debt Assumed
Orange County, CA(A)	March 2015	$	49.2	$	33.0
Orlando, FL	April 2015		33.0		—
Houston, TX	June 2015		69.8		—
Orlando, FL	December 2015		67.1		—
Colorado Springs, CO	April 2014	$	29.4	$	12.9
Roseville, CA	May 2014		89.5		—
Cincinnati, OH	May 2014		29.5		—
Chicago, IL	June 2014		98.0		35.5
Philadelphia, PA	August 2014		31.5		—
Blackstone II Acquisition (seven assets)(A)	September 2014		395.3		233.3
Erie, PA(A)	December 2014		15.6		—

(A) Acquired from various unconsolidated joint ventures in separate transactions. See description of Blackstone II Acquisition below.   

BRE DDR Retail Holdings Joint Venture Acquisitions [Member]

Schedule Of Equity Method Investments [Line Items]

Schedule of Business Acquisitions

The joint ventures were completed on similar terms as follows:

Terms	BRE DDR Retail Holdings IV		BRE DDR Retail Holdings III
Date acquired	December 2015		October 2014
Number of centers		6		70
Gross leasable area ("GLA")(A)	1.3 million		11.4 million
DDR common equity interest (5%)	$12.9 million		$19.6 million
DDR preferred equity interest	$82.6 million		$300.0 million
Preferred equity fixed dividend rate per annum		8.5%		8.5%
Transaction value at 100%	$250.1 million		$1.93 billion
Maximum preferred equity fixed distribution deferral		23.5%		23.5%
Fixed distribution rate per annum for any deferred and unpaid    preferred equity distributions		8.5%		8.5%
Mortgage debt assumed at 100%	$112.9 million		$436.8 million
New mortgage financings at 100%	—		$800.0 million

(A) All references to GLA or square feet are unaudited.

Unconsolidated Joint Ventures [Member]

Schedule Of Equity Method Investments [Line Items]

Condensed Combined Financial Information of Company's Unconsolidated Joint Venture Investments

Condensed combined financial information of the Company’s unconsolidated joint venture investments is as follows (in thousands):

	December 31,
	2015			2014
Condensed Combined Balance Sheets
Land	$	1,343,889		$	1,439,849
Buildings		3,551,227			3,854,585
Fixtures and tenant improvements		191,581			200,696
		5,086,697			5,495,130
Less: Accumulated depreciation		(817,235	)		(773,256	)
		4,269,462			4,721,874
Land held for development and construction in progress		52,390			55,698
Real estate, net		4,321,852			4,777,572
Cash and restricted cash		58,916			100,812
Receivables, net		52,768			80,508
Other assets, net		318,546			376,540
	$	4,752,082		$	5,335,432
Mortgage debt	$	3,177,603		$	3,534,553
Notes and accrued interest payable to the Company		1,556			144,831
Other liabilities		219,799			276,998
		3,398,958			3,956,382
Redeemable preferred equity		395,156			305,310
Accumulated equity		957,968			1,073,740
	$	4,752,082		$	5,335,432
Company's share of accumulated equity	$	115,871		$	122,937
Redeemable preferred equity		395,156			305,310
Basis differentials		(42,402	)		(12,954	)
Deferred development fees, net of portion related to the Company's interest		(2,449	)		(2,562	)
Amounts payable to the Company		1,556			2,117
Investments in and Advances to Joint Ventures	$	467,732		$	414,848

Condensed Combined Statements of Operations of Unconsolidated Joint Venture Investments

	For the Year Ended December 31,
	2015			2014			2013
Condensed Combined Statements of Operations
Revenues from operations	$	524,697		$	485,764		$	635,933
Expenses from operations:
Operating expenses		195,957			167,691			210,829
Impairment charges(A)		52,700			21,583			43,913
Depreciation and amortization		207,816			151,651			201,021
Interest expense		140,701			171,803			204,893
Other (income) expense, net		7,193			18,249			2,298
		604,367			530,977			662,954
Loss before tax expense and discontinued operations		(79,670	)		(45,213	)		(27,021	)
Income tax expense (primarily Sonae Sierra Brasil), net		—			(6,565	)		(27,553	)
Loss from continuing operations		(79,670	)		(51,778	)		(54,574	)
Discontinued operations:
Loss from discontinued operations(A)		—			(13,955	)		(65,951	)
Gain (loss) on disposition of real estate, net of tax(B)		—			55,020			(19,190	)
Loss before gain on disposition of real estate, net		(79,670	)		(10,713	)		(139,715	)
Gain on disposition of real estate, net		17,188			10,116			794
Net loss	$	(62,482	)	$	(597	)	$	(138,921	)
Income attributable to non-controlling interests		—			(2,022	)		(26,005	)
Net loss attributable to unconsolidated joint ventures	$	(62,482	)	$	(2,619	)	$	(164,926	)
Company's share of equity in net (loss) income of joint ventures(C)	$	(5,289	)	$	9,218		$	3,314
Basis differential adjustments(D)		2,154			1,771			3,505
Equity in net (loss) income of joint ventures(C)	$	(3,135	)	$	10,989		$	6,819

(A) For the years ended December 31, 2015, 2014 and 2013, the Company’s proportionate share was $10.5 million, $4.4 million and $6.6 million, respectively.  Impairment charges included in discontinued operations related to asset sales were $11.1 million and $49.3 million for the years ended December 31, 2014 and 2013, respectively, of which the Company’s proportionate share was $0.8 million and $4.0 million, respectively.  The Company’s share of the impairment charges was reduced by the impact of the other than temporary impairment charges recorded on these investments, as appropriate, as discussed below.  

(B) For the year ended December 31, 2013, the loss primarily was attributable to an investment in the Coventry II Fund (as defined below) in which the Company had a 20% interest.  The joint venture recorded a loss of $32.6 million on the transfer of its ownership of one of its properties to the lender.  The Company’s share of the loss was zero as the Company had previously written off its investment in this operating property.  

(C) The Company did not record income or loss from those investments in which its investment basis was zero.  As of March 13, 2015, the Company no longer had an interest in the Coventry II Fund assets (see below).

(D) The difference between the Company’s share of net income, as reported above, and the amounts included in the Company’s consolidated statements of operations is attributable to the amortization of basis differentials, the recognition of deferred gains and differences in gain (loss) on sale of certain assets recognized due to the basis differentials and other than temporary impairment charges.