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Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2013
Fair Value Disclosures [Abstract]  
Fair Value, Assets Measured on Recurring Basis [Table Text Block]
The following table presents the placement in the fair value hierarchy of assets and liabilities that are measured at fair value on a recurring basis as of December 31, 2013 and 2012 (in thousands):
 
 
Fair Value Measurements as of December 31, 2013
 
 
 
 
Quoted Prices in Active Markets for Identical Assets
 
Significant Other Observable Inputs
 
Significant Unobservable Inputs
 
 
Balance
 
(Level 1)
 
(Level 2)
 
(Level 3)
Assets:
 
 
 
 
 
 
 
 
Trading securities held in trust
$
26,681

 
26,681

 

 

Interest rate derivatives
 
35,237

 

 
35,237

 

Total
$
61,918

 
26,681

 
35,237

 

 
 
 
 
 
 
 
 
 
Liabilities:
 
 
 
 
 
 
 
 
Interest rate derivatives
$
(34
)
 

 
(34
)
 

 
 
Fair Value Measurements as of December 31, 2012
 
 
 
 
Quoted Prices in Active Markets for Identical Assets
 
Significant Other Observable Inputs
 
Significant Unobservable Inputs
 
 
Balance
 
(Level 1)
 
(Level 2)
 
(Level 3)
Assets:
 
 
 
 
 
 
 
 
Trading securities held in trust
$
23,429

 
23,429

 

 

Interest rate derivatives
 
4,307

 

 
4,307

 

Total
$
27,736

 
23,429

 
4,307

 

 
 
 
 
 
 
 
 
 
Liabilities:
 
 
 
 
 
 
 
 
Interest rate derivatives
$
(76
)
 

 
(76
)
 

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Table Text Block]
December 31, 2013 and 2012 (in thousands):

 
 
Fair Value Measurements as of December 31, 2013
 
 
 
 
Quoted Prices in Active Markets for Identical Assets
 
Significant Other Observable Inputs
 
Significant Unobservable Inputs
 
Total Losses
Assets:
 
Balance
 
(Level 1)
 
(Level 2)
 
(Level 3)
 
Long-lived asset held and used
 
 
 
 
 
 
 
 
 
 
Operating property
$
4,686

 

 

 
4,686

 
(6,000
)


Long-lived assets held and used are comprised primarily of real estate. During the year ended December 31, 2013, the Company recognized a $6.0 million impairment on a single operating property as a result of an unoccupied anchor declaring bankruptcy, and the inability of the Company, thus far, to re-lease the anchor space.
 
 
Fair Value Measurements as of December 31, 2012
 
 
 
 
Quoted Prices in Active Markets for Identical Assets
 
Significant Other Observable Inputs
 
Significant Unobservable Inputs
 
Total Losses(1)
Assets:
 
Balance
 
(Level 1)
 
(Level 2)
 
(Level 3)
 
Long-lived asset held and used
 
 
 
 
 
 
 
 
 
 
Operating property
$
49,673

 

 

 
49,673

 
(54,500
)
Fair Value Inputs, Assets, Quantitative Information [Table Text Block]
December 31, 2013 and 2012:

 
 
2013
 
2012
 
 
 
Low
 
High
Overall cap rates
 
8.0%
 
8.3%
 
8.5%
Rental growth rates
 
0.0%
 
(8.3)%
 
2.5%
Discount rates
 
9.0%
 
10.5%
 
10.5%
Terminal cap rates
 
8.5%
 
8.8%
 
8.8%