Investments in Unconsolidated Real Estate Joint Ventures (Tables)

6 Months Ended

Jun. 30, 2011

Investments In Unconsolidated Real Estate Joint Ventures [Abstract]

Schedule of Equity Method Investments [Table Text Block]

At June 30, 2011, we were members of the following unconsolidated real estate joint ventures:

Joint Venture	Center Location	Ownership %		Square Feet	Carrying Value of Investment (in millions)		Total Joint Venture Debt (in millions)
Deer Park (1)	Deer Park, Long Island, New York	33.3	%	683,033	$	0.1	$	269.3
Wisconsin Dells	Wisconsin Dells, Wisconsin	50.0	%	265,061	$	4.3	$	24.3
Other				—	$	0.2	$	—

(1) Includes a 29,253 square foot warehouse adjacent to the shopping center with a mortgage note of approximately $2.3 million.

Schedule of Management, Leasing, and Marketing Fees Paid By Unconsolidated JVs [Table Text Block]

The following management, leasing and marketing fees were recognized from services provided to Wisconsin Dells and Deer Park for the three and six months ended June 30, 2011 and 2010, respectively (in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2011		2010		2011		2010
Fee:
Management and leasing	$	469	$	471	$	973	$	935
Marketing	44		39		88		80
Total Fees	$	513	$	510	$	1,061	$	1,015

Summary Financial Information of Unconsolidated JVs Balance Sheet [Table Text Block]

Condensed combined summary financial information of joint ventures accounted for using the equity method is as follows (in thousands):

Summary Balance Sheets - Unconsolidated Joint Ventures	As of June 30, 2011		As of December 31, 2010
Assets
Investment properties at cost, net	$	284,076	$	283,902
Cash and cash equivalents	15,682		13,838
Deferred lease costs, net	2,877		2,563
Deferred debt origination costs, net	970		1,427
Prepaids and other assets	8,555		6,291
Total assets	$	312,160	$	308,021
Liabilities and Owners' Equity
Mortgages payable	$	293,534	$	294,034
Construction trade payables	6,034		341
Accounts payable and other liabilities	6,937		4,810
Total liabilities	306,505		299,185
Owners' equity	5,655		8,836
Total liabilities and owners' equity	$	312,160	$	308,021

Summary Financial Information Of Unconsolidated JVs Statements of Operations [Table Text Block]

	Three Months Ended						Six Months Ended
Summary Statements of Operations -	June 30,						June 30,
Unconsolidated Joint Ventures	2011			2010			2011			2010
Revenues	$	9,752		$	9,261		$	19,314		$	18,535
Expenses
Property operating	4,473			4,200			8,574			8,410
General and administrative	(131		)	72			56			359
Depreciation and amortization	3,627			3,546			7,238			7,043
Total expenses	7,969			7,818			15,868			15,812
Operating income	1,783			1,443			3,446			2,723
Interest expense	4,126			1,717			5,929			3,391
Net loss	$	(2,343	)	$	(274	)	$	(2,483	)	$	(668	)
The Company and Operating Partnership's share of:
Net loss	$	(764	)	$	(51	)	$	(796	)	$	(119	)
Depreciation (real estate related)	$	1,336		$	1,280		$	2,642		$	2,545