Investments in and Advances to Joint Ventures (Tables)

12 Months Ended

Dec. 31, 2016

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, 2016, are as follows:

Unconsolidated Real Estate Ventures	Effective Ownership Percentage		Assets Owned
BRE DDR Retail Holdings III		5%	50 shopping centers in several states
BRE DDR Retail Holdings IV	5		6 shopping centers in several states
DDRTC Core Retail Fund, LLC	15		25 shopping centers in several states
DDR Domestic Retail Fund I	20		55 shopping centers in several states
DDR – SAU Retail Fund, LLC	20		12 shopping centers in several states
Other Joint Venture Interests	26–79		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,
	2016		2015		2014
Management and other fees	$	28.6	$	26.0	$	24.9
Interest income		33.4		26.0		11.0
Development fees and leasing commissions		7.5		6.8		6.4

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,
	2016			2015
Condensed Combined Balance Sheets
Land	$	1,287,675		$	1,343,889
Buildings		3,376,720			3,551,227
Fixtures and tenant improvements		203,824			191,581
		4,868,219			5,086,697
Less: Accumulated depreciation		(884,356	)		(817,235	)
		3,983,863			4,269,462
Construction in progress and land		56,983			52,390
Real estate, net		4,040,846			4,321,852
Cash and restricted cash		50,378			58,916
Receivables, net		50,685			52,768
Other assets, net		248,664			318,546
	$	4,390,573		$	4,752,082
Mortgage debt	$	3,034,399		$	3,177,603
Notes and accrued interest payable to the Company		1,584			1,556
Other liabilities		206,949			219,799
		3,242,932			3,398,958
Redeemable preferred equity		393,338			395,156
Accumulated equity		754,303			957,968
	$	4,390,573		$	4,752,082
Company's share of accumulated equity	$	97,977		$	115,871
Redeemable preferred equity		393,338			395,156
Basis differentials		(36,117	)		(42,402	)
Deferred development fees, net of portion related to the Company's interest		(2,651	)		(2,449	)
Amounts payable to the Company		1,584			1,556
Investments in and Advances to Joint Ventures	$	454,131		$	467,732

Condensed Combined Statements of Operations of Unconsolidated Joint Venture Investments

	For the Year Ended December 31,
	2016			2015			2014
Condensed Combined Statements of Operations
Revenues from operations	$	513,365		$	524,697		$	485,764
Expenses from operations:
Operating expenses		144,984			146,924			140,615
Impairment charges(A)		13,598			52,700			21,583
Depreciation and amortization		195,198			207,816			151,651
Interest expense		132,943			140,701			171,803
Preferred share expense		33,418			25,991			7,355
Other (income) expense, net		23,513			30,235			37,970
		543,654			604,367			530,977
Loss before tax expense and discontinued operations		(30,289	)		(79,670	)		(45,213	)
Income tax expense (primarily Sonae Sierra Brasil), net		—			—			(6,565	)
Loss from continuing operations		(30,289	)		(79,670	)		(51,778	)
Discontinued operations:
Loss from discontinued operations(A)		—			—			(13,955	)
Gain on disposition of real estate, net of tax		—			—			55,020
Loss before gain on disposition of real estate, net		(30,289	)		(79,670	)		(10,713	)
Gain on disposition of real estate, net		57,261			17,188			10,116
Net income (loss) attributable to unconsolidated joint ventures	$	26,972		$	(62,482	)	$	(597	)
Income attributable to non-controlling interests		—			—			(2,022	)
Net income (loss) attributable to unconsolidated joint ventures	$	26,972		$	(62,482	)	$	(2,619	)
Company's share of equity in net income (loss) of joint ventures(B)	$	11,650		$	(5,289	)	$	9,218
Basis differential adjustments(B)		4,049			2,154			1,771
Equity in net income (loss) of joint ventures(B)	$	15,699		$	(3,135	)	$	10,989

(A) For the years ended December 31, 2016, 2015 and 2014, the Company’s proportionate share was $2.7 million, $10.5 million and $4.4 million, respectively.  Impairment charges included in discontinued operations related to asset sales were $11.1 million for the year ended December 31, 2014, of which the Company’s proportionate share was $0.8 million.  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.  Reflected in discontinued operations are 37 properties sold in 2014.

(B) The difference between the Company’s share of net income (loss), 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.  The Company does not record income or loss from those investments in which its investment basis is zero.  There were no such investments at December 31, 2016.