Investments in Real Estate Partnerships (Tables)

12 Months Ended

Dec. 31, 2015

Dec. 31, 2014

Schedule of Equity Method Investments [Line Items]

Schedule of Related Party Transactions [Table Text Block]

Management fee income

In addition to earning our pro-rata share of net income or loss in each of these co-investment partnerships, we receive fees, as follows:

	Year ended December 31,
(in thousands)	2015		2014	2013
Asset management, property management, leasing, and investment and financing services	$	24,519	22,983	24,153

Schedule of Equity Method Investments [Table Text Block]

consist of the following:

	December 31, 2015
(in thousands)	Regency's Ownership	Number of Properties	Total Investment		Total Assets of the Partnership	Net Income of the Partnership		The Company's Share of Net Income of the Partnership
GRI - Regency, LLC (GRIR) (1)	40.00%	73	$	220,099	1,744,017	45,761		18,148
Columbia Regency Retail Partners, LLC (Columbia I) (1)	20.00%	9	15,255		175,044	(1,396	)	(278	)
Columbia Regency Partners II, LLC (Columbia II) (1)	20.00%	14	8,496		290,064	3,794		755
Cameron Village, LLC (Cameron)	30.00%	1	11,857		100,124	2,195		643
RegCal, LLC (RegCal) (1)	25.00%	7	17,967		145,213	2,316		576
US Regency Retail I, LLC (USAA) (1)	20.01%	8	161		112,225	4,011		807
Other investments in real estate partnerships	50.00%	6	32,371		108,698	4,067		1,857
Total investments in real estate partnerships		118	$	306,206	2,675,385	60,748		22,508

	December 31, 2014
(in thousands)	Regency's Ownership	Number of Properties	Total Investment		Total Assets of the Partnership	Net Income of the Partnership	The Company's Share of Net Income of the Partnership
GRI - Regency, LLC (GRIR) (1)	40.00%	74	$	247,175	1,829,116	33,032	13,727
Columbia Regency Retail Partners, LLC (Columbia I) (1)	20.00%	10	15,916		199,427	7,173	1,431
Columbia Regency Partners II, LLC (Columbia II) (1)	20.00%	14	9,343		300,028	1,211	233
Cameron Village, LLC (Cameron)	30.00%	1	12,114		100,625	3,393	1,008
RegCal, LLC (RegCal) (1)	25.00%	7	13,354		149,457	4,012	966
US Regency Retail I, LLC (USAA) (1)	20.01%	8	806		115,660	2,872	567
Other investments in real estate partnerships	50.00%	6	34,459		113,189	27,773	13,338
Total investments in real estate partnerships		120	$	333,167	2,807,502	79,466	31,270

⁽¹⁾ These partnership agreements have a unilateral right for election to dissolve the partnership and receive a DIK upon liquidation; therefore, the Company has applied the Restricted Gain Method to determine the amount of gain recognized on property sales to these partnerships. During 2015 and 2014, the Company did not sell any properties to these real estate partnerships, and accordingly, the Restricted Gain Method was not applied.

The summarized balance sheet information for the investments in real estate partnerships, on a combined basis, is as follows:

	December 31,
(in thousands)	2015		2014
Investments in real estate, net	$	2,497,770	2,620,583
Acquired lease intangible assets, net	43,469		50,763
Other assets	134,146		136,156
Total assets	$	2,675,385	2,807,502
Notes payable	$	1,401,977	1,462,790
Acquired lease intangible liabilities, net	23,826		28,991
Other liabilities	66,061		67,093
Capital - Regency	414,681		442,050
Capital - Third parties	768,840		806,578
Total liabilities and capital	$	2,675,385	2,807,502

The following table reconciles the Company's capital recorded by the unconsolidated partnerships to the Company's investments in real estate partnerships reported in the accompanying consolidated balance sheet:

	December 31,
(in thousands)	2015			2014
Capital - Regency	$	414,681		442,050
less: Impairment of investment in real estate partnerships	(1,300		)	(1,300	)
less: Ownership percentage or Restricted Gain Method deferral	(28,972		)	(29,380	)
less: Net book equity in excess of purchase price	(78,203		)	(78,203	)
Investments in real estate partnerships	$	306,206		333,167

The revenues and expenses for the investments in real estate partnerships, on a combined basis, are summarized as follows:

	Year ended December 31,
(in thousands)	2015			2014		2013
Total revenues	$	363,745		361,103		378,670
Operating expenses:
Depreciation and amortization	111,648			117,780		125,363
Operating and maintenance	51,970			55,216		55,423
General and administrative	5,292			5,503		7,385
Real estate taxes	43,769			42,380		45,451
Other operating expenses	2,989			2,234		1,725
Total operating expenses	215,668			223,113		235,347
Other expense (income):
Interest expense, net	79,477			84,155		95,505
Gain on sale of real estate	(2,766		)	(28,856	)	(15,695	)
Provision for impairment	9,102			2,123		—
Early extinguishment of debt	—			114		(1,780	)
Preferred return on equity investment	—			—		(4,499	)
Other expense (income)	1,516			988		(1,258	)
Total other expense (income)	87,329			58,524		72,273
Net income of the Partnerships	$	60,748		79,466		71,050
The Company's share of net income of the Partnerships	$	22,508		31,270		31,718

Notes Payable

Scheduled principal repayments on notes payable held by our unconsolidated investments in real estate partnerships as of December 31, 2015 were as follows: 

Scheduled Principal Payments and Maturities by Year:	Scheduled Principal Payments		Mortgage Loan Maturities		Unsecured Maturities	Total		Regency’s Pro-Rata Share
2016	$	16,614	84,875		—	101,489		37,238
2017	17,517		77,385		9,760	104,662		23,874
2018	18,696		67,022		—	85,718		27,655
2019	17,934		65,939		—	83,873		21,618
2020	14,826		222,199		—	237,025		85,506
Beyond 5 Years	20,001		770,424		—	790,425		295,357
Unamortized debt premiums (discounts), net	—		(1,215	)	—	(1,215	)	(488	)
Total notes payable	$	105,588	1,286,629		9,760	1,401,977		490,760

These loans are all non-recourse. Maturities will be repaid from proceeds from refinancing and partner capital contributions. The Company is obligated to contribute its pro-rata share to fund maturities if the loans are not refinanced. The Company believes that its partners are financially sound and have sufficient capital or access thereto to fund future capital requirements.  In the event that a co-investment partner was unable to fund its share of the capital requirements of the co-investment partnership, the Company would have the right, but not the obligation, to loan the defaulting partner the amount of its capital call. 

Business dispositions unconsolidated co-investment partnership [Table Text Block]

Dispositions

The following table provides a summary of shopping centers and land out-parcels disposed of through our unconsolidated real estate partnerships:

	Year ended December 31,
(in thousands)	2015		2014	2013
Proceeds from sale of real estate investments	$	39,459	88,106	145,295
Gain on sale of real estate	$	2,766	28,856	15,695
The Company's share of gain on sale of real estate	$	1,108	13,615	3,847
Number of operating properties sold	2		6	15
Number of land out-parcels sold	0		2	3

Corporate Joint Venture [Member]

Schedule of Equity Method Investments [Line Items]

Schedule of Business Acquisitions, by Acquisition [Table Text Block]

(in thousands)		Year ended December 31, 2014
Date Purchased	Property Name	City/State	Property Type	Co-investment Partner	Ownership %	Purchase Price		Debt Assumed, Net of Premiums	Intangible Assets	Intangible Liabilities
12/30/2014	Broadway	Seattle, WA	Operating	Columbia II	20.00%	$	43,000	—	7,604	3,487
Total property acquisitions						$	43,000	—	7,604	3,487