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Mortgage and Other Notes Receivable
9 Months Ended
Sep. 30, 2012
Mortgage and Other Notes Receivable [Abstract]  
Mortgage and Other Notes Receivable
Mortgage and Other Notes Receivable
 
Each of the Company’s mortgage notes receivable is collateralized by either a first mortgage, a second mortgage or by an assignment of 100% of the partnership interests that own the real estate assets.  Other notes receivable include amounts due from tenants or government sponsored districts and unsecured notes received from third parties as whole or partial consideration for property or investments.  Interest rates on mortgage and other notes receivable ranged from 2.73% to 10.0%, with a weighted average interest rate of 7.33% and 8.76% at September 30, 2012 and December 31, 2011, respectively. Maturities of these notes receivable range from April 2013 to January 2047.
    
In the second quarter of 2012, the Company and its noncontrolling interest partner exercised their rights under the terms of a mezzanine loan agreement with the borrower, which owned The Outlet Shoppes at Gettysburg, to convert the mezzanine loan into a member interest in the outlet center. Also during the second quarter of 2012, the entity that owned The Outlet Shoppes at El Paso repaid a mezzanine loan from the Company when the Company acquired an interest in the outlet center. See Note 4 for additional information.

As of September 30, 2012, the Company believes that its mortgage and other notes receivable balance of $26,007 is fully collectible.