Investments in and Advances to Joint Ventures (Tables)

12 Months Ended

Dec. 31, 2017

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, 2017, are as follows:

Unconsolidated Real Estate Ventures	Partner	Effective Ownership Percentage		Operating Properties
BRE DDR Retail Holdings III	Blackstone Real Estate Partners		5.0%	37
BRE DDR Retail Holdings IV	Blackstone Real Estate Partners	5.0		6
DDRTC Core Retail Fund, LLC	TIAA – CREF	15.0		23
DDRM Properties	Madison International Realty	20.0		52
DDR – SAU Retail Fund, LLC	State of Utah	20.0		12
Other Joint Venture Interests	Various	20.0–79.45		6

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,
	2017		2016		2015
Management and other fees	$	24.2	$	28.6	$	26.0
Interest income		25.9		33.4		26.0
Development fees and leasing commissions		9.1		7.5		6.8

Summary of Terms For Unconsolidated Joint Ventures Investments

The Company’s two unconsolidated investments with The Blackstone Group L.P. (“Blackstone”), BRE DDR Retail Holdings III (“BRE DDR III”) and BRE DDR Retail Holdings IV (“BRE DDR IV” and, together with BRE DDR III, the “BRE DDR Joint Ventures”), have substantially similar terms and are summarized as follows (in millions, except properties owned):

		Common Equity		Preferred Investment (Principal)						Properties Owned
	Formation	Initial		Initial		December 31, 2017		Net of Reserve		Inception		December 31, 2017
BRE DDR III	Oct 2014	$	19.6	$	300.0	$	265.9	$	216.0		70		37
BRE DDR IV	Dec 2015		12.9		82.6		67.1		56.0		6		6
				$	382.6	$	333.0	$	272.0

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,
	2017			2016
Condensed Combined Balance Sheets
Land	$	1,126,703		$	1,287,675
Buildings		3,057,072			3,376,720
Fixtures and tenant improvements		213,989			203,824
		4,397,764			4,868,219
Less: Accumulated depreciation		(962,038	)		(884,356	)
		3,435,726			3,983,863
Construction in progress and land		53,928			56,983
Real estate, net		3,489,654			4,040,846
Cash and restricted cash		155,894			50,378
Receivables, net		51,396			50,685
Other assets, net		174,832			248,664
	$	3,871,776		$	4,390,573
Mortgage debt	$	2,501,163		$	3,034,399
Notes and accrued interest payable to the Company		1,365			1,584
Other liabilities		156,076			206,949
		2,658,604			3,242,932
Redeemable preferred equity – DDR		345,149			393,338
Accumulated equity		868,023			754,303
	$	3,871,776		$	4,390,573
Company's share of accumulated equity	$	132,710		$	97,977
Redeemable preferred equity, net		277,776			393,338
Basis differentials		(24,973	)		(36,117	)
Deferred development fees, net of portion related to the Company's interest		(3,065	)		(2,651	)
Amounts payable to the Company		1,365			1,584
Investments in and Advances to Joint Ventures, net	$	383,813		$	454,131

Condensed Combined Statements of Operations of Unconsolidated Joint Venture Investments

	For the Year Ended December 31
	2017			2016			2015
Condensed Combined Statements of Operations
Revenues from operations	$	502,506		$	513,365		$	524,697
Expenses from operations:
Operating expenses		145,855			144,984			146,924
Impairment charges(A)		90,597			13,598			52,700
Depreciation and amortization		180,337			195,198			207,816
Interest expense		107,330			132,943			140,701
Preferred share expense		32,251			33,418			25,991
Other (income) expense, net		25,986			23,513			30,235
		582,356			543,654			604,367
Loss from continuing operations		(79,850	)		(30,289	)		(79,670	)
Gain on disposition of real estate, net		101,806			57,261			17,188
Net income (loss) attributable to unconsolidated joint ventures	$	21,956		$	26,972		$	(62,482	)
Company's share of equity in net income (loss) of joint ventures(B)	$	3,516		$	11,650		$	(5,289	)
Basis differential adjustments(B)		5,321			4,049			2,154
Equity in net income (loss) of joint ventures(B)	$	8,837		$	15,699		$	(3,135	)

(A) For the years ended December 31, 2017, 2016 and 2015, the Company’s proportionate share was $5.0 million, $2.7 million and $10.5 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) 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, unrecognized preferred PIK, the recognition of deferred gains, differences in gain (loss) on sale of certain assets recognized due to the basis differentials and other than temporary impairment charges