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Mortgage and Other Indebtedness, Net - Mortgage and Other Indebtedness, net And senior Secured Notes (Details) - USD ($)
$ in Thousands
1 Months Ended 12 Months Ended
Jun. 30, 2022
Dec. 31, 2023
May 31, 2023
Feb. 28, 2023
Dec. 31, 2022
Oct. 31, 2021
Debt Instrument [Line Items]            
New senior secured notes           $ 395,000
Mortgage notes payable   $ 915,753     $ 1,023,634  
Mortgage and other indebtedness, variable-rate debt   1,028,213     1,065,942  
Total fixed-rate and variable-rate debt   1,943,966     2,089,576  
Unamortized deferred financing costs   (13,221)     (17,101)  
Debt discounts [1]   (41,942)     (72,289)  
Total mortgage and other indebtedness, net   $ 1,888,803     $ 2,000,186 $ 1,678,619
Weighted average interest rate (as a percent) [2]   7.12%     6.21%  
Interest rate percentage   7.3975% 7.3975% 4.25%    
Notional amount of the swap   $ 32,000 $ 32,000      
Five Mortgage Notes Payable            
Debt Instrument [Line Items]            
Remaining debt discount amortization period   2 years 4 months 24 days        
Half Portion Of New Loan            
Debt Instrument [Line Items]            
Interest rate percentage 6.95% 6.95%        
Fixed Rate Interest            
Debt Instrument [Line Items]            
Weighted average interest rate (as a percent) [2]   5.63%     5.26%  
Variable Rate Interest            
Debt Instrument [Line Items]            
Weighted average interest rate (as a percent) [2]   8.44%     7.12%  
SOFR | Second Half Portion Of New Loan            
Debt Instrument [Line Items]            
Debt instrument basis points 4.10% 4.10%        
Open-Air Centers and Outparcels Loan            
Debt Instrument [Line Items]            
Mortgage notes payable [3]   $ 179,180     $ 180,000  
Mortgage and other indebtedness, variable-rate debt [3]   $ 179,180     $ 180,000  
Open-Air Centers and Outparcels Loan | Fixed Rate Interest            
Debt Instrument [Line Items]            
Weighted average interest rate (as a percent) [2],[3]   9.44%     6.95%  
Open-Air Centers and Outparcels Loan | Variable Rate Interest            
Debt Instrument [Line Items]            
Weighted average interest rate (as a percent) [2],[3]   6.95%     8.22%  
Non-Recourse Loans on Operating Properties            
Debt Instrument [Line Items]            
Mortgage notes payable   $ 736,573     $ 843,634  
Mortgage and other indebtedness, variable-rate debt   $ 33,780     $ 38,250  
Non-Recourse Loans on Operating Properties | Fixed Rate Interest            
Debt Instrument [Line Items]            
Weighted average interest rate (as a percent) [2]   5.30%     4.90%  
Non-Recourse Loans on Operating Properties | Variable Rate Interest            
Debt Instrument [Line Items]            
Weighted average interest rate (as a percent) [2]   8.84%     7.37%  
Recourse loans on an operating property            
Debt Instrument [Line Items]            
Mortgage and other indebtedness, variable-rate debt   $ 15,339     $ 18,240 [4]  
Weighted average interest rate (as a percent) [2]   8.24%     7.02%  
Secured Term Loan            
Debt Instrument [Line Items]            
Mortgage and other indebtedness, variable-rate debt   $ 799,914     $ 829,452  
Secured Term Loan | Variable Rate Interest            
Debt Instrument [Line Items]            
Weighted average interest rate (as a percent) [2]   8.21%     6.87%  
[1] In conjunction with fresh start accounting, the Company estimated the fair value of its mortgage notes with the assistance of a third-party valuation advisor. This resulted in recognizing a debt discount on the Effective Date. The debt discount is accreted over the term of the respective debt using the effective interest method. The remaining debt discounts at December 31, 2023 will be accreted over a weighted average period of 2.4 years.
[2] Weighted-average interest rate excludes amortization of deferred financing costs.
[3] The interest rate is a fixed 6.95% for half of the outstanding loan balance, with the other half of the loan bearing a variable interest rate based on the 30-day SOFR plus 4.10%. The Operating Partnership has an interest rate swap on a notional amount of $32,000 related to the variable portion of the loan to effectively fix the interest rate at 7.3975%
[4] The loan secured by Brookfield Square Anchor Redevelopment is non-recourse. The loan balance was reclassified from non-recourse loans on operating properties to recourse loan on an operating property to conform to the current year presentation due to the separate Operating Partnership guaranty of the loan. The guaranty has been in place since inception of the loan. Subsequent to December 31, 2023, the loan was paid off removing the guaranty. See Note 20 for additional information.