Document and Entity Information
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6 Months Ended | |
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Jun. 30, 2013
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Aug. 01, 2013
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Entity Registrant Name | REGENCY CENTERS CORP | |
Entity Central Index Key | 0000910606 | |
Document Type | 10-Q | |
Document Period End Date | Jun. 30, 2013 | |
Amendment Flag | false | |
Document Fiscal Year Focus | 2013 | |
Document Fiscal Period Focus | Q1 | |
Entity Well-known Seasoned Issuer | Yes | |
Entity Voluntary Filers | No | |
Entity Current Reporting Status | Yes | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Large Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 92,291,029 | |
Partnership Interest [Member]
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Entity Registrant Name | REGENCY CENTERS LP | |
Entity Central Index Key | 0001066247 | |
Entity Filer Category | Accelerated Filer |
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Exchangeable operating partnership units. No definition available.
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Consolidated Statements of Operations (Parenthetical) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 6 Months Ended | ||
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Jun. 30, 2013
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Jun. 30, 2012
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Jun. 30, 2013
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Jun. 30, 2012
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Parent Company [Member]
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Interest income | $ 292 | $ 377 | $ 751 | $ 913 |
Unrealized Gain on Securities | 17 | (499) | 848 | 725 |
Partnership Interest [Member]
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Interest income | 292 | 377 | 751 | 913 |
Unrealized Gain on Securities | $ 17 | $ (499) | $ 848 | $ 725 |
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Consolidated Statement of Changes in Equity (USD $)
In Thousands |
Parent Company [Member]
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Partnership Interest [Member]
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Preferred Stock [Member]
Parent Company [Member]
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Common Stock [Member]
Parent Company [Member]
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Treasury Stock [Member]
Parent Company [Member]
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Additional Paid-in Capital [Member]
Parent Company [Member]
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Accumulated Other Comprehensive Income (Loss) [Member]
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Accumulated Other Comprehensive Income (Loss) [Member]
Parent Company [Member]
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Accumulated Other Comprehensive Income (Loss) [Member]
Partnership Interest [Member]
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Distributions in Excess of Net Income [Member]
Parent Company [Member]
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Total Stockholders' Equity [Member]
Parent Company [Member]
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Noncontrolling Interests Preferred Units [Member]
Parent Company [Member]
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Noncontrolling Interest Exchangeable Operating Partnership Units [Member]
Parent Company [Member]
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Noncontrolling Interests in Limited Partners' Interest in Consolidated Partnerships [Member]
Parent Company [Member]
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Noncontrolling Interests in Limited Partners' Interest in Consolidated Partnerships [Member]
Partnership Interest [Member]
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Total Noncontrolling Interests [Member]
Parent Company [Member]
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Preferred Units [Member]
Partnership Interest [Member]
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General Partner Preferred and Common Units [Member]
Partnership Interest [Member]
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Limited Partners [Member]
Partnership Interest [Member]
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Total Partners' Capital [Member]
Partnership Interest [Member]
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Preferred Units [Member]
Partnership Interest [Member]
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Preferred Units [Member]
Accumulated Other Comprehensive Income (Loss) [Member]
Partnership Interest [Member]
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Preferred Units [Member]
Noncontrolling Interests in Limited Partners' Interest in Consolidated Partnerships [Member]
Partnership Interest [Member]
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Preferred Units [Member]
Partnership Interest [Member]
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Preferred Units [Member]
General Partner Preferred and Common Units [Member]
Partnership Interest [Member]
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Preferred Units [Member]
Limited Partners [Member]
Partnership Interest [Member]
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Preferred Units [Member]
Total Partners' Capital [Member]
Partnership Interest [Member]
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Preferred Stock [Member]
Parent Company [Member]
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Preferred Stock [Member]
Parent Company [Member]
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Preferred Stock [Member]
Common Stock [Member]
Parent Company [Member]
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Preferred Stock [Member]
Treasury Stock [Member]
Parent Company [Member]
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Preferred Stock [Member]
Additional Paid-in Capital [Member]
Parent Company [Member]
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Preferred Stock [Member]
Accumulated Other Comprehensive Income (Loss) [Member]
Parent Company [Member]
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Preferred Stock [Member]
Distributions in Excess of Net Income [Member]
Parent Company [Member]
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Preferred Stock [Member]
Total Stockholders' Equity [Member]
Parent Company [Member]
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Preferred Stock [Member]
Noncontrolling Interests Preferred Units [Member]
Parent Company [Member]
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Preferred Stock [Member]
Noncontrolling Interest Exchangeable Operating Partnership Units [Member]
Parent Company [Member]
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Preferred Stock [Member]
Noncontrolling Interests in Limited Partners' Interest in Consolidated Partnerships [Member]
Parent Company [Member]
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Preferred Stock [Member]
Total Noncontrolling Interests [Member]
Parent Company [Member]
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Common Stock [Member]
Parent Company [Member]
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Common Stock [Member]
Preferred Stock [Member]
Parent Company [Member]
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Common Stock [Member]
Parent Company [Member]
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Common Stock [Member]
Treasury Stock [Member]
Parent Company [Member]
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Common Stock [Member]
Additional Paid-in Capital [Member]
Parent Company [Member]
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Common Stock [Member]
Accumulated Other Comprehensive Income (Loss) [Member]
Parent Company [Member]
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Common Stock [Member]
Distributions in Excess of Net Income [Member]
Parent Company [Member]
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Common Stock [Member]
Total Stockholders' Equity [Member]
Parent Company [Member]
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Common Stock [Member]
Noncontrolling Interests Preferred Units [Member]
Parent Company [Member]
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Common Stock [Member]
Noncontrolling Interest Exchangeable Operating Partnership Units [Member]
Parent Company [Member]
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Common Stock [Member]
Noncontrolling Interests in Limited Partners' Interest in Consolidated Partnerships [Member]
Parent Company [Member]
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Common Stock [Member]
Total Noncontrolling Interests [Member]
Parent Company [Member]
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Noncontrolling Interests Preferred Units [Member]
Parent Company [Member]
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Noncontrolling Interest Exchangeable Operating Partnership Units [Member]
Parent Company [Member]
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Noncontrolling Interest Exchangeable Operating Partnership Units [Member]
Total Noncontrolling Interests [Member]
Parent Company [Member]
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Beginning balance at Dec. 31, 2011 | $ 1,869,654 | $ 1,869,654 | $ 275,000 | $ 899 | $ (15,197) | $ 2,281,817 | $ (71,429) | $ (71,429) | $ (662,735) | $ 1,808,355 | $ 49,158 | $ (963) | $ 13,104 | $ 13,104 | $ 61,299 | $ 49,158 | $ 1,879,784 | $ (963) | $ 1,856,550 | |||||||||||||||||||||||||||||||||||
Net income | 38,083 | 38,083 | 0 | 0 | 0 | 0 | 0 | 0 | 38,211 | (629) | 77 | 424 | 424 | (128) | (629) | 38,211 | 77 | 37,659 | ||||||||||||||||||||||||||||||||||||
Net Income (Loss) Attributable to Parent | (38,211) | (37,659) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Other comprehensive income (loss) | (4,682) | (4,682) | 0 | 0 | 0 | 0 | (4,698) | (4,698) | 0 | (4,698) | 0 | (9) | 25 | 0 | 0 | (9) | (4,707) | |||||||||||||||||||||||||||||||||||||
Comprehensive (Income) Loss, Net of Tax, Attributable to Noncontrolling Interest | (144) | 399 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Other comprehensive income (loss) attributable to noncontrolling interests | (16) | (25) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Deferred compensation plan, net | 0 | 0 | 0 | 405 | (405) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||||
Amortization of restricted stock issued | 5,726 | 5,726 | 0 | 0 | 0 | 5,726 | 0 | 0 | 0 | 5,726 | 0 | 0 | 0 | 0 | 0 | 0 | 5,726 | 0 | 5,726 | |||||||||||||||||||||||||||||||||||
Common stock redeemed for taxes withheld for stock based compensation, net | (1,548) | 0 | 0 | 0 | (1,548) | 0 | 0 | (1,548) | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||||
Common stock issued for dividend reinvestment plan | 495 | 0 | 0 | 0 | 495 | 0 | 0 | 495 | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||||
Redemption of preferred units | (48,125) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (48,125) | 0 | 0 | (48,125) | ||||||||||||||||||||||||||||||||||||||||||
Preferred unit distributions | (12,744) | 0 | 0 | 404 | 12,340 | 0 | (12,744) | |||||||||||||||||||||||||||||||||||||||||||||||
Stock issued for stock offerings, net of issuance costs | 241,386 | 0 | 0 | 0 | 241,386 | 0 | 241,386 | 250,000 | 0 | 0 | (8,614) | 0 | 0 | 241,386 | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||||||||||||||
Net proceeds from issuance of preferred stock | 241,386 | (241,386) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Redemption of preferred stock | (200,000) | (200,000) | 0 | 0 | 6,993 | 0 | (6,993) | (200,000) | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||||
Contributions from partners | 3,317 | 3,317 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3,317 | 3,317 | 3,317 | 0 | 0 | 0 | 0 | |||||||||||||||||||||||||||||||||||
Distributions to partners | (576) | (83,327) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (576) | 576 | (576) | 0 | 82,587 | 164 | (82,751) | |||||||||||||||||||||||||||||||||||
Preferred stock redemptions | (248,125) | 0 | 0 | 48,125 | 200,000 | 0 | (248,125) | |||||||||||||||||||||||||||||||||||||||||||||||
Common units issued as a result of common stock issued by Parent Company, net of repurchases | (1,053) | 0 | 0 | 0 | 1,053 | 0 | (1,053) | |||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock/unit | (12,744) | 0 | 0 | 0 | 0 | 0 | (12,340) | (12,340) | 0 | 0 | (404) | 404 | ||||||||||||||||||||||||||||||||||||||||||
Preferred stock dividends | (19,333) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock/unit | (82,751) | 0 | 0 | 0 | 0 | 0 | (82,587) | (82,587) | 0 | 0 | (164) | 164 | ||||||||||||||||||||||||||||||||||||||||||
Ending Balance at Jun. 30, 2012 | 1,817,599 | 1,817,599 | 325,000 | 899 | (14,792) | 2,284,464 | (66,731) | (66,731) | (726,444) | 1,802,396 | 0 | (1,041) | 16,244 | 16,244 | 15,203 | 0 | 1,869,127 | (1,041) | 1,801,355 | |||||||||||||||||||||||||||||||||||
Beginning balance at Mar. 31, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net income | 11,348 | 11,348 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income (Loss) Attributable to Parent | (11,093) | (11,116) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Other comprehensive income (loss) | (2,347) | (2,347) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Comprehensive (Income) Loss, Net of Tax, Attributable to Noncontrolling Interest | 249 | 222 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Other comprehensive income (loss) attributable to noncontrolling interests | (6) | (10) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock dividends | (5,396) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Ending Balance at Jun. 30, 2012 | 1,817,599 | 1,817,599 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Beginning balance at Dec. 31, 2012 | 1,745,911 | 1,745,911 | (57,715) | 0 | 16,299 | 0 | 1,788,480 | (1,153) | 1,729,612 | |||||||||||||||||||||||||||||||||||||||||||||
Net income | 58,603 | 58,603 | 0 | 0 | 0 | 0 | 0 | 0 | 57,949 | 0 | 109 | 545 | 545 | 654 | 0 | 57,949 | 109 | 58,058 | ||||||||||||||||||||||||||||||||||||
Net Income (Loss) Attributable to Parent | (57,949) | (58,058) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Other comprehensive income (loss) | (26,453) | (26,453) | 0 | 0 | 0 | 0 | (26,396) | (26,396) | (26,396) | 0 | (26,396) | 0 | (50) | (7) | 0 | 0 | (50) | (26,446) | ||||||||||||||||||||||||||||||||||||
Comprehensive (Income) Loss, Net of Tax, Attributable to Noncontrolling Interest | 711 | 552 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Other comprehensive income (loss) attributable to noncontrolling interests | 57 | 7 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Deferred compensation plan, net | 0 | 0 | 0 | (1,428) | 1,428 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||||
Amortization of restricted stock issued | 6,978 | 6,978 | 0 | 0 | 0 | 6,978 | 0 | 0 | 0 | 6,978 | 0 | 0 | 0 | 0 | 0 | 0 | 6,978 | 0 | 6,978 | |||||||||||||||||||||||||||||||||||
Common stock redeemed for taxes withheld for stock based compensation, net | (2,921) | 0 | 0 | 0 | (2,921) | 0 | 0 | (2,921) | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||||
Common stock issued for dividend reinvestment plan | 578 | 0 | 0 | 0 | 578 | 0 | 0 | 578 | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||||
Preferred unit distributions | (10,531) | 0 | 0 | 0 | 10,531 | 0 | (10,531) | |||||||||||||||||||||||||||||||||||||||||||||||
Stock issued for stock offerings, net of issuance costs | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (98,278) | 0 | 19 | 0 | 98,259 | 0 | 0 | 98,278 | 0 | 0 | 0 | 0 | |||||||||||||||||||||||||||||||
Net proceeds from issuance of preferred stock | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Contributions from partners | 39 | 39 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 39 | 39 | 39 | 0 | 0 | 0 | 0 | |||||||||||||||||||||||||||||||||||
Distributions to partners | (3,311) | (87,356) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (3,311) | 3,311 | (3,311) | 0 | 83,874 | 171 | (84,045) | |||||||||||||||||||||||||||||||||||
Common units issued as a result of common stock issued by Parent Company, net of repurchases | 95,935 | 0 | 0 | 0 | (95,935) | 0 | 95,935 | |||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock/unit | (10,531) | 0 | 0 | 0 | 0 | 0 | (10,531) | 0 | 0 | 0 | 0 | |||||||||||||||||||||||||||||||||||||||||||
Preferred stock dividends | (10,531) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock/unit | (84,045) | 0 | 0 | 0 | 0 | 0 | (83,874) | (83,874) | 0 | (171) | 0 | 171 | ||||||||||||||||||||||||||||||||||||||||||
Ending Balance at Jun. 30, 2013 | 1,836,032 | 1,836,032 | 325,000 | 923 | (16,352) | 2,416,632 | (31,319) | (31,319) | (871,266) | 1,823,618 | 0 | (1,165) | 13,579 | 13,579 | 12,414 | 0 | 1,854,937 | (1,165) | 1,822,453 | |||||||||||||||||||||||||||||||||||
Beginning balance at Mar. 31, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net income | 37,469 | 37,469 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income (Loss) Attributable to Parent | (37,129) | (37,199) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Other comprehensive income (loss) | (20,706) | (20,706) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Comprehensive (Income) Loss, Net of Tax, Attributable to Noncontrolling Interest | 383 | 274 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Other comprehensive income (loss) attributable to noncontrolling interests | 43 | 4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock dividends | (5,265) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Ending Balance at Jun. 30, 2013 | $ 1,836,032 | $ 1,836,032 |
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Common unit issued as a result of common stock issued by Parent Company, net of purchases No definition available.
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Deferred compensation plan, net activity No definition available.
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Preferred Unit Distributions No definition available.
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Consolidated Statement of Changes in Equity (Parenthetical) (USD $)
|
6 Months Ended | |
---|---|---|
Jun. 30, 2013
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Jun. 30, 2012
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Common stock/unit per share | $ 0.925 | $ 0.925 |
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Value of stock issued during the period from a dividend reinvestment plan (DRIP). A dividend reinvestment plan allows the holder of the stock to reinvest dividends paid to them by the entity on new issues of stock by the entity, non-cash. No definition available.
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The difference between the carrying value and the sale price of real estate or properties that were intended to be sold or held for capital appreciation or rental income. This element refers to the gain (loss) included in earnings and not to the cash proceeds of the sale. This element is a noncash adjustment to net income when calculating net cash generated by operating activities using the indirect method. The difference between the carrying value and the sale price of real estate or properties that were intended to be sold or held for capital appreciation or rental income. This element refers to the gain (loss) included in earnings and not to the cash proceeds of the sale. This element is a noncash adjustment to net income when calculating net cash generated by operating activities using the indirect method. The difference between the carrying value and the sale price of real estate or properties that were intended to be sold or held for capital appreciation or rental income. This element refers to the gain (loss) included in earnings and not to the cash proceeds of the sale. This element is a noncash adjustment to net income when calculating net cash generated by operating activities using the indirect method including discontinued operations. No definition available.
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Payments for Repurchase of Preferred Units No definition available.
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Preferred unit and stock distribution declared and not paid No definition available.
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Real estate received through distribution in kind No definition available.
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Real Estate Received Through Foreclosure On Notes Receivable No definition available.
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Scheduled Principal Payments. No definition available.
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Stock based compensation capitalized No definition available.
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Vested Stock deferred into rabbi trust No definition available.
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Stock distributed out of rabbi trust No definition available.
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Consolidated Statements of Cash Flows (Parenthetical) (USD $)
In Thousands, unless otherwise specified |
6 Months Ended | |
---|---|---|
Jun. 30, 2013
|
Jun. 30, 2012
|
|
Parent Company [Member]
|
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Capitalized interest | $ 2,305 | $ 1,246 |
Partnership Interest [Member]
|
||
Capitalized interest | $ 2,305 | $ 1,246 |
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Organization and Principles of Consolidation
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6 Months Ended |
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Jun. 30, 2013
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Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Organization and Principles of Consolidation | Organization and Principles of Consolidation General Regency Centers Corporation (the “Parent Company”) began its operations as a Real Estate Investment Trust (“REIT”) in 1993 and is the general partner of Regency Centers, L.P. (the “Operating Partnership”). The Parent Company currently owns approximately 99.8% of the outstanding common Partnership Units of the Operating Partnership. The Parent Company engages in the ownership, management, leasing, acquisition, and development of retail shopping centers through the Operating Partnership, and has no other assets or liabilities other than through its investment in the Operating Partnership. As of June 30, 2013, the Parent Company, the Operating Partnership and their controlled subsidiaries on a consolidated basis (the "Company” or “Regency”) directly owned 204 retail shopping centers and held partial interests in an additional 139 retail shopping centers through investments in real estate partnerships (also referred to as "joint ventures" or "co-investment partnerships"). The financial statements reflect all adjustments which are, in the opinion of management, necessary to a fair statement of the results for the interim period presented. These adjustments are considered to be of a normal recurring nature. Recently Adopted Accounting Pronouncements On January 1, 2013, the Company adopted Financial Accounting Standards Board ("FASB") Accounting Standards Update (“ASU”) No. 2011-11, Disclosures about Offsetting Assets and Liabilities ("ASU 2011-11") and ASU No. 2013-01, Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities. These new standards retain the existing offsetting models under U.S. GAAP but require new disclosure requirements for derivatives, including bifurcated embedded derivatives, repurchase and reverse repurchase agreements, and securities lending transactions that are either offset in the Consolidated Balance Sheets or subject to an enforceable master netting arrangement or similar agreement. Retrospective application is required. While the Company does have master netting agreements, it does not have multiple derivatives with the same counterparties subject to a single master netting agreement to offset, therefore no additional disclosures are necessary. |
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Real Estate Investments
|
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2013
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Business Combinations [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Real Estate Investments | Real Estate Investments The following table details the shopping center acquired during the six months ended June 30, 2013 (in thousands). There were no shopping centers acquired through our co-investment partnerships during the six months ended June 30, 2013.
In addition, on March 20, 2013, the Company entered into a liquidation agreement with Macquarie Countrywide (US) No. 2, LLC ("CQR") to redeem its 24.95% interest through dissolution of the Macquarie CountryWide-Regency III, LLC (MCWR III) co-investment partnership through a distribution-in-kind ("DIK"). The assets of the partnership were distributed as 100% ownership interests to CQR and Regency after a selection process, as provided for by the agreement. Regency selected one asset, Hilltop Village, which was recorded at the carrying value of the Company's equity investment in MCWR III, net of deferred gain, on the date of dissolution of $7.6 million, including a $7.5 million mortgage assumed. |
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Discontinued Operations
|
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2013
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Discontinued Operations and Disposal Groups [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Discontinued Operations | Discontinued Operations Dispositions The following table provides a summary of shopping centers disposed of during the three and six months ended June 30, 2013 and 2012 (in thousands):
The following table provides a summary of revenues and expenses from properties included in discontinued operations for three and six months ended June 30, 2013 and 2012 (in thousands):
(1) The operating income and gain on sales of properties included in discontinued operations are reported net of income taxes, if the property is sold by Regency Realty Group, Inc., a wholly owned subsidiary of the Operating Partnership, which is a Taxable REIT subsidiary as defined by in Section 856(1) of the Internal Revenue Code. |
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No authoritative reference available. No definition available.
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Income Taxes
|
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2013
|
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Income Tax Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Income Taxes | Income Taxes Income tax expense (benefit) is separately presented on the face of the Consolidated Statement of Operations, if the related income is from continuing operations, or is included in operating income from discontinued operations, if from discontinued operations. There was no income tax expense (benefit) for the three and six months ended June 30, 2013. Income tax expense (benefit) was as follows for the three and six months ended June 30, 2013 and 2012 (in thousands):
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Notes Payable and Unsecured Credit Facilities
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6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2013
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Debt Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Notes Payable and Unsecured Credit Facilities | Notes Payable and Unsecured Credit Facilities The Company’s debt outstanding as of June 30, 2013 and December 31, 2012 consists of the following (in thousands):
Fixed rate mortgage loans decreased $4.8 million primarily due to the following:
Further, since December 31, 2012, the Company has repaid $45.0 million, net of borrowings, on its $800.0 million Line of Credit (the "Line"). As of June 30, 2013, scheduled principal payments and maturities on notes payable were as follows (in thousands):
(1) Includes unsecured public debt and unsecured credit facilities. The Company believes it was in compliance as of June 30, 2013 with the financial and other covenants under its unsecured public debt and unsecured credit facilities. |
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Derivatives
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Jun. 30, 2013
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Derivative Instruments and Hedging Activities Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Financial Instruments | Derivative Financial Instruments The following table summarizes the terms and fair values of the Company's derivative financial instruments, as well as their classification on the Consolidated Balance Sheets, as of June 30, 2013 and December 31, 2012 (in thousands):
(1) Represents the date specified in the agreement for either optional or mandatory early termination which will result in cash settlement. These derivative financial instruments are all interest rate swaps, which are designated and qualify as cash flow hedges. The Company does not use derivatives for trading or speculative purposes and currently does not have any derivatives that are not designated as hedges. The Company has master netting agreements, however the Company does not have multiple derivatives subject to a single master netting agreement with the same counterparties, therefore none are offset in the accompanying Consolidated Balance Sheet. The Company has $150.0 million of unsecured long-term debt that matures in 2014 and $350.0 million of unsecured long-term debt that matures in 2015. In order to mitigate the risk of interest rates rising before new unsecured borrowings are obtained, the Company entered into five forward-starting interest rate swaps during December 2012, for the same ten year periods expected for the future borrowings. These swaps total $300.0 million of notional value, as shown above. The Company will settle these swaps upon the early termination date, which is expected to coincide with the date new unsecured borrowings are obtained, and will begin amortizing the gain or loss realized from the swap settlement over the ten year period expected for the new borrowings; resulting in a modified effective interest rate on those borrowings. The effective portion of changes in the fair value of derivatives designated and qualifying as cash flow hedges is recorded in accumulated other comprehensive income (loss) and subsequently reclassified into earnings in the period that the hedged forecasted transaction affects earnings. The ineffective portion of the change in fair value of the derivatives is recognized directly in earnings as a gain or loss on derivative instruments. The following tables represents the effect of the derivative financial instruments on the accompanying consolidated financial statements for the three and six months ended June 30, 2013 and 2012 (in thousands):
As of June 30, 2013, the Company expects $9.8 million of deferred losses (gains) on derivative instruments accumulated in other comprehensive income to be reclassified into earnings during the next 12 months, of which $9.3 million is related to previously settled swaps. |
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Fair Value Measurements
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Jun. 30, 2013
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Fair Value Disclosures [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Measurements | Fair Value Measurements (a) Disclosure of Fair Value of Financial Instruments All financial instruments of the Company are reflected in the accompanying Consolidated Balance Sheets at amounts which, in management's estimation, reasonably approximate their fair values, except for the following as of June 30, 2013 and December 31, 2012 (in thousands):
The table above reflects carrying amounts in the accompanying Consolidated Balance Sheets under the indicated captions. The above fair values represent the amounts that would be received to sell those assets or that would be paid to transfer those liabilities in an orderly transaction between market participants as of June 30, 2013 and December 31, 2012. These fair value measurements maximize the use of observable inputs. However, in situations where there is little, if any, market activity for the asset or liability at the measurement date, the fair value measurement reflects the Company's own judgments about the assumptions that market participants would use in pricing the asset or liability. The Company develops its judgments based on the best information available at the measurement date, including expected cash flows, appropriately risk-adjusted discount rates, and available observable and unobservable inputs. Service providers involved in fair value measurements are evaluated for competency and qualifications on an ongoing basis. The Company's valuation policies and procedures are determined by its Finance Group, which reports to the Chief Financial Officer, and the results of significant fair value measurements are discussed with the Audit Committee of the Board of Directors on a quarterly basis. As considerable judgment is often necessary to estimate the fair value of these financial instruments, the fair values presented above are not necessarily indicative of amounts that will be realized upon disposition of the financial instruments. The following methods and assumptions were used to estimate the fair value of these financial instruments: Notes Receivable The fair value of the Company's notes receivable is estimated by calculating the present value of future contractual cash flows discounted at interest rates available for notes of the same terms and maturities, adjusted for counter-party specific credit risk. The interest rates range from 7.1% to 7.7% as of June 30, 2013, based on the Company's estimates. The fair value of notes receivable was determined primarily using Level 3 inputs of the fair value hierarchy, which considered counter-party credit risk and loan to value ratio on the underlying property securing the note receivable. Notes Payable The fair value of the Company's notes payable is estimated by discounting future cash flows of each instrument at rates that reflect the current market rates available to the Company for debt of the same terms and maturities. These rates range from 2.7% to 3.7% as of June 30, 2013, based on the Company's estimates. Fixed rate loans assumed in connection with real estate acquisitions are recorded in the accompanying consolidated financial statements at fair value at the time the property is acquired. The fair value of the notes payable was determined using Level 2 inputs of the fair value hierarchy. Unsecured Credit Facilities The fair value of the Company's unsecured credit facilities is estimated based on the interest rates currently offered to the Company by financial institutions, which is estimated to be 1.6% as of June 30, 2013. The fair value of the credit facilities was determined using Level 2 inputs of the fair value hierarchy. (b) Fair Value Measurements The following financial instruments are measured at fair value on a recurring basis: Trading Securities Held in Trust The Company has investments in marketable securities that are classified as trading securities held in trust on the accompanying Consolidated Balance Sheets. The fair value of the trading securities held in trust was determined using quoted prices in active markets, considered Level 1 inputs of the fair value hierarchy. Changes in the value of trading securities are recorded within net investment (income) loss from deferred compensation plan in the accompanying Consolidated Statements of Operations. Interest Rate Derivatives The fair value of the Company's interest rate derivatives is determined using widely accepted valuation techniques including discounted cash flow analysis on the expected cash flows of each derivative. This analysis reflects the contractual terms of the derivatives, including the period to maturity, and uses observable market-based inputs, including interest rate curves and implied volatilities. The Company incorporates credit valuation adjustments to appropriately reflect both its own nonperformance risk and the respective counterparty's nonperformance risk in the fair value measurements. Although the Company has determined that the majority of the inputs used to value its derivatives fall within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with its derivatives utilize Level 3 inputs, such as estimates of current credit spreads, to evaluate the likelihood of default by the Company and its counterparties. The Company has assessed the significance of the impact of the credit valuation adjustments on the overall valuation of its derivative positions and has determined that the credit valuation adjustments on the overall valuation adjustments are not significant to the overall valuation of its interest rate swaps. As a result, the Company determined that its interest rate swaps valuation in its entirety is classified in Level 2 of the fair value hierarchy. 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 June 30, 2013 and December 31, 2012 (in thousands):
There were no fair value measurements recorded on a nonrecurring basis as of June 30, 2013. The following table presents fair value measurements that were measured at fair value on a nonrecurring basis as of December 31, 2012 (in thousands):
(1) Excludes impairments for properties sold during the year ended December 31, 2012. Long-lived assets held and used are comprised primarily of real estate. The Company recognized a $54.5 million impairment loss related to two operating properties during the year ended December 31, 2012. The majority of this impairment, $50.0 million, related to one operating property, which the Company determined was more likely than not to be sold before the end of its previously estimated hold period, which led to the impairment during the fourth quarter of 2012. The Company subsequently sold this property in May of 2013. The other operating property exhibited weak operating fundamentals, including low economic occupancy for an extended period of time, which led to a $4.5 million impairment during the second quarter of 2012. The Company subsequently sold this property in June of 2013. Fair value for the long-lived assets held and used measured using Level 3 inputs was determined through the use of an income approach. The income approach estimates an income stream for a property (typically 10 years) and discounts this income plus a reversion (presumed sale) into a present value at a risk adjusted rate. Yield rates and growth assumptions utilized in this approach are derived from property specific information, market transactions, and other financial and industry data. The terminal cap rate and discount rate are significant inputs to this valuation. The following are ranges of key inputs used in determining the fair value of real estate measured using Level 3 inputs as of December 31, 2012:
Changes in these inputs could result in a significant change in the valuation of the real estate and a change in the impairment loss recognized during the period. |
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Equity and Capital
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Jun. 30, 2013
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Equity and Capital [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity and Capital | Equity and Capital Common Stock of the Parent Company Issuances: On August 10, 2012, the Parent Company entered into at the market ("ATM") equity distribution agreements in which we may from time to time offer and sell up to $150.0 million of our common stock. The net proceeds are expected to fund potential acquisition opportunities, fund development or redevelopment activities, repay amounts outstanding under our revolving credit facility and/or for general corporate purposes. As of June 30, 2013, $28.2 million in common stock remained available for issuance under its ATM equity program. During the three and six months ended June 30, 2013, the following shares were issued under the ATM equity program (in thousands, except share data):
Common Units of the Operating Partnership Issuances: Common units were issued to the Parent Company in relation to the Parent Company's issuance of common stock, as discussed above. Accumulated Other Comprehensive Loss The following table presents changes in the balances of each component of accumulated other comprehensive loss for the six months ended June 30, 2013 (in thousands):
The following represents amounts reclassified out of accumulated other comprehensive loss into earnings during the three and six months ended June 30, 2013 and 2012, respectively:
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Stock-Based Compensation (Notes)
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Jun. 30, 2013
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Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock-Based Compensation | Stock-Based Compensation The Company recorded stock-based compensation in general and administrative expenses in the accompanying Consolidated Statements of Operations, the components of which are further described below for the three and six months ended June 30, 2013 and 2012 (in thousands):
The recorded amounts of stock-based compensation expense represent amortization of the grant date fair value of restricted stock awards over the respective vesting periods. Compensation expense specifically identifiable to development and leasing activities is capitalized and included above. During 2013, the Company granted approximately 248,000 shares of non-vested restricted stock awards with a weighted-average grant-date fair value of $52.80 per share. |
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Non-Qualified Deferred Compensation Plan
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Jun. 30, 2013
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Non Qualified Deferred Compensation Plan [Abstract] | |
Non-Qualified Deferred Compensation Plan | Non-Qualified Deferred Compensation Plan The Company maintains a non-qualified deferred compensation plan (“NQDCP”) which allows select employees and directors to defer part or all of their salary, cash bonus, and restricted stock awards. All contributions into the participants' accounts are fully vested upon contribution to the NQDCP and are deposited into a Rabbi trust. The participants' deferred compensation liability is included within accounts payable and other liabilities in the accompanying Consolidated Balance Sheets and was $23.9 million and $22.8 million at June 30, 2013 and December 31, 2012, respectively. |
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Earnings per Share and Unit
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Jun. 30, 2013
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Earnings per Share and Unit [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Earnings per Share and Unit | Earnings per Share and Unit Parent Company Earnings per Share The following summarizes the calculation of basic and diluted earnings per share for the periods ended June 30, 2013 and 2012, respectively (in thousands except per share data):
Income allocated to noncontrolling interests of the Operating Partnership has been excluded from the numerator and exchangeable Operating Partnership units have been omitted from the denominator for the purpose of computing diluted earnings per share since the effect of including these amounts in the numerator and denominator would have no impact. Weighted average exchangeable Operating Partnership units outstanding for the three and six months ended June 30, 2013 and 2012 were 177,164. Operating Partnership Earnings per Unit The following summarizes the calculation of basic and diluted earnings per unit for the periods ended June 30, 2013 and 2012, respectively (in thousands except per unit data):
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Commitments and Contingencies
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6 Months Ended |
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Jun. 30, 2013
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Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Commitments and Contingencies The Company is involved in litigation on a number of matters and is subject to certain claims, which arise in the normal course of business, none of which, in the opinion of management, is expected to have a material adverse effect on the Company's consolidated financial position, results of operations, or liquidity. Legal fees are expensed as incurred. The Company is also subject to numerous environmental laws and regulations as they apply to real estate pertaining to chemicals used by the dry cleaning industry, the existence of asbestos in older shopping centers, and underground petroleum storage tanks. The Company believes that the ultimate disposition of currently known environmental matters will not have a material effect on its financial position, liquidity, or operations; however, it can give no assurance that existing environmental studies with respect to the shopping centers have revealed all potential environmental liabilities; that any previous owner, occupant or tenant did not create any material environmental condition not known to it; that the current environmental condition of the shopping centers will not be affected by tenants and occupants, by the condition of nearby properties, or by unrelated third parties; or that changes in applicable environmental laws and regulations or their interpretation will not result in additional environmental liability to the Company. The Company has the right to issue letters of credit under the Line up to an amount not to exceed $80.0 million, which reduces the credit availability under the Line. The Company also has stand alone letters of credit with other banks. These letters of credit are primarily issued as collateral to facilitate the construction of development projects. As of June 30, 2013 and December 31, 2012, the Company had $19.3 million and $20.8 million letters of credit outstanding, respectively. |
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Discontinued Operations (Tables)
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Jun. 30, 2013
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Discontinued Operations and Disposal Groups [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures [Table Text Block] | The following table provides a summary of shopping centers disposed of during the three and six months ended June 30, 2013 and 2012 (in thousands):
The following table provides a summary of revenues and expenses from properties included in discontinued operations for three and six months ended June 30, 2013 and 2012 (in thousands):
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Income Taxes (Tables)
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Jun. 30, 2013
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Income Tax Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Income Tax Expense (Benefit), Intraperiod Tax Allocation [Table Text Block] | Income tax expense (benefit) is separately presented on the face of the Consolidated Statement of Operations, if the related income is from continuing operations, or is included in operating income from discontinued operations, if from discontinued operations. There was no income tax expense (benefit) for the three and six months ended June 30, 2013. Income tax expense (benefit) was as follows for the three and six months ended June 30, 2013 and 2012 (in thousands):
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Schedule of Income Tax Expense (Benefit), Intraperiod Tax Allocation [Table Text Block] No definition available.
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Notes Payable and Unsecured Credit Facilities (Tables)
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Jun. 30, 2013
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Debt Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Long-term Debt Instruments [Table Text Block] | The Company’s debt outstanding as of June 30, 2013 and December 31, 2012 consists of the following (in thousands):
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Schedule of Maturities of Long-term Debt [Table Text Block] | As of June 30, 2013, scheduled principal payments and maturities on notes payable were as follows (in thousands):
(1) Includes unsecured public debt and unsecured credit facilities. |
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Derivatives (Tables)
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Jun. 30, 2013
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Derivative Instruments and Hedging Activities Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Derivative Instruments [Table Text Block] | The following table summarizes the terms and fair values of the Company's derivative financial instruments, as well as their classification on the Consolidated Balance Sheets, as of June 30, 2013 and December 31, 2012 (in thousands):
(1) Represents the date specified in the agreement for either optional or mandatory early termination which will result in cash settlement. |
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Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance [Table Text Block] | The following tables represents the effect of the derivative financial instruments on the accompanying consolidated financial statements for the three and six months ended June 30, 2013 and 2012 (in thousands):
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Fair Value Measurements (Tables)
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Jun. 30, 2013
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Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value, by Balance Sheet Grouping [Table Text Block] | All financial instruments of the Company are reflected in the accompanying Consolidated Balance Sheets at amounts which, in management's estimation, reasonably approximate their fair values, except for the following as of June 30, 2013 and December 31, 2012 (in thousands):
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Fair Value, Assets Measured on Recurring Basis [Table Text Block] | he 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 June 30, 2013 and December 31, 2012 (in thousands):
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Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Table Text Block] | The following table presents fair value measurements that were measured at fair value on a nonrecurring basis as of December 31, 2012 (in thousands):
(1) Excludes impairments for properties sold during the year ended December 31, 2012. |
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Ranges Of Key Inputs Used In Determining The Fair Value Of Real Estate [Table Text Block] | The following are ranges of key inputs used in determining the fair value of real estate measured using Level 3 inputs as of December 31, 2012:
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Ranges Of Key Inputs Used In Determining The Fair Value Of Real Estate [Table Text Block] No definition available.
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Equity and Capital (Tables)
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Jun. 30, 2013
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Equity and Capital [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Market Equity Distributions [Table Text Block] | During the three and six months ended June 30, 2013, the following shares were issued under the ATM equity program (in thousands, except share data):
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Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | The following table presents changes in the balances of each component of accumulated other comprehensive loss for the six months ended June 30, 2013 (in thousands):
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Reclassification out of Accumulated Other Comprehensive Income [Table Text Block] | The following represents amounts reclassified out of accumulated other comprehensive loss into earnings during the three and six months ended June 30, 2013 and 2012, respectively:
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Schedule of Market Equity Distributions [Table Text Block] No definition available.
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Stock-Based Compensation (Tables)
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Jun. 30, 2013
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Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award | The Company recorded stock-based compensation in general and administrative expenses in the accompanying Consolidated Statements of Operations, the components of which are further described below for the three and six months ended June 30, 2013 and 2012 (in thousands):
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Earnings per Share and Unit (Tables)
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Jun. 30, 2013
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Parent Company [Member]
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Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | The following summarizes the calculation of basic and diluted earnings per share for the periods ended June 30, 2013 and 2012, respectively (in thousands except per share data):
|
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Partnership Interest [Member]
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Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | The following summarizes the calculation of basic and diluted earnings per unit for the periods ended June 30, 2013 and 2012, respectively (in thousands except per unit data):
|
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- Definition
No authoritative reference available. No definition available.
|
Organization and Principles of Consolidation (Details)
|
6 Months Ended |
---|---|
Jun. 30, 2013
|
|
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | |
Operations Commenced Date | Dec. 31, 1993 |
Wholly Owned Properties [Member]
|
|
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | |
Number of Real Estate Properties | 204 |
Unconsolidated Properties [Member]
|
|
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | |
Number of Real Estate Properties | 139 |
Parent Company [Member]
|
|
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | |
Parent Company, Ownership Percentage of Outstanding Common Partnership Units of Operating Partnership | 100.00% |
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|
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Acquired Finite Lived Intangible Liability, Amount No definition available.
|
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- Definition
Business Acquisition Location, City and State No definition available.
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Number of Real Estate Properties Sold During the period. No definition available.
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Income Taxes - Continuing and Discontinuing Tax (Details) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2013
|
Jun. 30, 2012
|
Jun. 30, 2013
|
Jun. 30, 2012
|
|
Entity Information [Line Items] | ||||
Continuing operations | $ 0 | $ (840) | $ 0 | $ (608) |
Discontinued operations | 0 | 671 | 0 | 608 |
Total income tax expense | (169) | 0 | 0 | |
Partnership Interest [Member]
|
||||
Entity Information [Line Items] | ||||
Continuing operations | $ 0 | $ (840) | $ 0 | $ (608) |
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|
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- Definition
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|
Notes Payable and Unsecured Credit Facilities (Details) (USD $)
|
6 Months Ended | 0 Months Ended | 6 Months Ended | |||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2013
|
Dec. 31, 2012
|
Jun. 30, 2013
Scheduled Principal Payments [Member]
|
Jun. 30, 2013
Mortgage Loan Maturities [Member]
|
Jun. 30, 2013
Unsecured Maturities [Member]
|
Jun. 30, 2013
Long-term Debt [Member]
|
Jun. 30, 2013
Line of Credit [Member]
|
Dec. 31, 2012
Line of Credit [Member]
|
Jun. 30, 2013
Term Loan - Unsecured [Member]
|
Dec. 31, 2012
Term Loan - Unsecured [Member]
|
Jun. 30, 2013
Notes Payable to Banks [Member]
|
Dec. 31, 2012
Notes Payable to Banks [Member]
|
Jun. 30, 2013
Fixed Rate Mortgage Loans [Member]
|
Dec. 31, 2012
Fixed Rate Mortgage Loans [Member]
|
Jun. 30, 2013
Variable Rate Mortgage Loans [Member]
|
Dec. 31, 2012
Variable Rate Mortgage Loans [Member]
|
Jun. 30, 2013
Fixed Rate Unsecured Loans [Member]
|
Dec. 31, 2012
Fixed Rate Unsecured Loans [Member]
|
Jun. 30, 2013
Unsecured Credit Facilities [Member]
|
Dec. 31, 2012
Unsecured Credit Facilities [Member]
|
May 01, 2013
Consolidated Entities [Member]
Fixed Rate Mortgage Loans [Member]
Seven Point One Percent Mortgage Maturing May 1, 2013 [Member]
|
Jun. 30, 2013
Consolidated Entities [Member]
Fixed Rate Mortgage Loans [Member]
3.3% Mortgage Maturing April 1, 2020 [Member]
|
Jun. 30, 2013
Hilltop Village [Member]
Consolidated Entities [Member]
Fixed Rate Mortgage Loans [Member]
|
Jun. 30, 2013
Hilltop Village [Member]
Consolidated Entities [Member]
Fixed Rate Mortgage Loans [Member]
Five Point Six Percent Mortgage Maturing April 6, 2016 [Member]
|
Jun. 30, 2013
Net increase/decrease [Member]
Fixed Rate Mortgage Loans [Member]
|
||||
Debt Instrument [Line Items] | ||||||||||||||||||||||||||||
Unsecured Line of Credit, Amount Outstanding | $ 45,000,000 | |||||||||||||||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | 800,000,000 | |||||||||||||||||||||||||||
Debt Instrument, Increase, Additional Borrowings | 8,250,000 | |||||||||||||||||||||||||||
Mortgage loans assumed for the acquisition of real estate | 7,500,000 | 7,500,000 | ||||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 10.00% | 0.00% | 6.00% | |||||||||||||||||||||||||
Long-term Debt, Amount Outstanding | 16,300,000 | (4,800,000) | ||||||||||||||||||||||||||
Maturities of Long-term Debt [Abstract] | ||||||||||||||||||||||||||||
2013 | 3,877,000 | 0 | 0 | [1] | 3,877,000 | |||||||||||||||||||||||
2014 | 7,383,000 | 26,853,000 | 150,000,000 | [1] | 184,236,000 | |||||||||||||||||||||||
2015 | 5,747,000 | 62,435,000 | 350,000,000 | [1] | 418,182,000 | |||||||||||||||||||||||
2016 | 5,487,000 | 21,661,000 | 125,000,000 | [1] | 152,148,000 | |||||||||||||||||||||||
2017 | 4,584,000 | 84,593,000 | 400,000,000 | [1] | 489,177,000 | |||||||||||||||||||||||
Beyond 5 Years | 20,021,000 | 220,993,000 | 400,000,000 | [1] | 641,014,000 | |||||||||||||||||||||||
Unamortized debt (discounts) premiums, net | 0 | 5,346,000 | (1,856,000) | [1] | 3,490,000 | |||||||||||||||||||||||
Long-term Debt, Amount Outstanding | $ 1,892,124,000 | $ 1,941,891,000 | $ 47,099,000 | $ 421,881,000 | $ 1,423,144,000 | [1] | $ 1,892,124,000 | $ 25,000,000 | $ 70,000,000 | $ 100,000,000 | $ 100,000,000 | $ 1,767,124,000 | $ 1,771,891,000 | $ 457,071,000 | $ 461,914,000 | $ 11,909,000 | $ 12,041,000 | $ 1,298,144,000 | $ 1,297,936,000 | $ 125,000,000 | $ 170,000,000 | |||||||
|
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- Definition
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|
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- Definition
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|
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- Definition
Derivative, Early Termination Date No definition available.
|
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- Definition
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|
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- Definition
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|
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- Definition
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|
Fair Value Measurements (Details) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | 6 Months Ended | 6 Months Ended | 12 Months Ended | 3 Months Ended | 6 Months Ended | ||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2013
|
Dec. 31, 2012
|
Dec. 31, 2012
Fair Value, Measurements, Nonrecurring [Member]
|
Dec. 31, 2012
Minimum
|
Dec. 31, 2012
Minimum
Overall cap rate [Member]
|
Dec. 31, 2012
Minimum
Terminal cap rate [Member]
|
Dec. 31, 2012
Maximum
|
Dec. 31, 2012
Maximum
Overall cap rate [Member]
|
Dec. 31, 2012
Maximum
Terminal cap rate [Member]
|
Jun. 30, 2013
Estimate of Fair Value Measurement [Member]
Fair Value, Measurements, Recurring [Member]
|
Dec. 31, 2012
Estimate of Fair Value Measurement [Member]
Fair Value, Measurements, Recurring [Member]
|
Dec. 31, 2012
Estimate of Fair Value Measurement [Member]
Fair Value, Measurements, Nonrecurring [Member]
|
Jun. 30, 2013
Fair Value, Inputs, Level 1 [Member]
Fair Value, Measurements, Recurring [Member]
|
Dec. 31, 2012
Fair Value, Inputs, Level 1 [Member]
Fair Value, Measurements, Recurring [Member]
|
Dec. 31, 2012
Fair Value, Inputs, Level 1 [Member]
Fair Value, Measurements, Nonrecurring [Member]
|
Jun. 30, 2013
Fair Value, Inputs, Level 2 [Member]
|
Dec. 31, 2012
Fair Value, Inputs, Level 2 [Member]
|
Jun. 30, 2013
Fair Value, Inputs, Level 2 [Member]
Fair Value, Measurements, Recurring [Member]
|
Dec. 31, 2012
Fair Value, Inputs, Level 2 [Member]
Fair Value, Measurements, Recurring [Member]
|
Dec. 31, 2012
Fair Value, Inputs, Level 2 [Member]
Fair Value, Measurements, Nonrecurring [Member]
|
Jun. 30, 2013
Fair Value, Inputs, Level 3 [Member]
|
Dec. 31, 2012
Fair Value, Inputs, Level 3 [Member]
|
Jun. 30, 2013
Fair Value, Inputs, Level 3 [Member]
Fair Value, Measurements, Recurring [Member]
|
Dec. 31, 2012
Fair Value, Inputs, Level 3 [Member]
Fair Value, Measurements, Recurring [Member]
|
Dec. 31, 2012
Fair Value, Inputs, Level 3 [Member]
Fair Value, Measurements, Nonrecurring [Member]
|
Jun. 30, 2013
Unsecured Credit Facilities [Member]
|
Jun. 30, 2013
Unsecured Credit Facilities [Member]
Fair Value, Inputs, Level 2 [Member]
|
Dec. 31, 2012
Unsecured Credit Facilities [Member]
Fair Value, Inputs, Level 2 [Member]
|
Jun. 30, 2013
Notes Payable, Other Payables [Member]
Minimum
|
Jun. 30, 2013
Notes Payable, Other Payables [Member]
Maximum
|
Jun. 30, 2013
Notes Receivable [Member]
Minimum
|
Jun. 30, 2013
Notes Receivable [Member]
Maximum
|
Dec. 31, 2012
Vine at Castaic [Member]
Fair Value, Measurements, Nonrecurring [Member]
|
Dec. 31, 2012
Deer Springs [Member]
Fair Value, Measurements, Nonrecurring [Member]
|
Jun. 30, 2013
Partnership Interest [Member]
|
Jun. 30, 2012
Partnership Interest [Member]
|
Jun. 30, 2013
Partnership Interest [Member]
|
Jun. 30, 2012
Partnership Interest [Member]
|
Dec. 31, 2012
Partnership Interest [Member]
|
Jun. 30, 2013
.76% Derivative [Member]
Estimate of Fair Value Measurement [Member]
Fair Value, Measurements, Recurring [Member]
|
Dec. 31, 2012
.76% Derivative [Member]
Estimate of Fair Value Measurement [Member]
Fair Value, Measurements, Recurring [Member]
|
||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||
Notes receivable | $ 18,502 | $ 23,751 | $ 18,502 | $ 18,502 | $ 23,751 | |||||||||||||||||||||||||||||||||||||||||
Long-Lived Assets | 49,673 | 0 | 0 | 49,673 | ||||||||||||||||||||||||||||||||||||||||||
Risk Free Interest Rate | 1.60% | 2.70% | 3.65% | 7.07% | 7.69% | |||||||||||||||||||||||||||||||||||||||||
Notes Receivable, Fair Value | 18,153 | 23,677 | ||||||||||||||||||||||||||||||||||||||||||||
Trading securities held in trust, at fair value | 24,457 | 23,429 | 24,457 | 24,457 | 23,429 | |||||||||||||||||||||||||||||||||||||||||
Notes Payable, Fair Value | 1,924,578 | 2,000,000 | ||||||||||||||||||||||||||||||||||||||||||||
Unsecured credit facilities | 125,000 | 170,000 | 125,000 | 125,000 | 170,000 | |||||||||||||||||||||||||||||||||||||||||
Debt Instrument, Fair Value Disclosure | 125,240 | 170,200 | ||||||||||||||||||||||||||||||||||||||||||||
Trading Securities, Fair Value Disclosure | 24,457 | 23,429 | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||
Derivative Asset, Fair Value, Gross Asset | 26,011 | 4,307 | ||||||||||||||||||||||||||||||||||||||||||||
Total | 50,468 | 27,736 | 24,457 | 23,429 | 26,011 | 4,307 | 0 | 0 | ||||||||||||||||||||||||||||||||||||||
Derivative Liability, Fair Value, Gross Liability | 51 | 76 | 51 | 76 | ||||||||||||||||||||||||||||||||||||||||||
Impairment of Real Estate | (54,500) | [1] | 4,500 | [1] | 50,000 | [1] | 0 | 19,008 | 0 | 19,008 | ||||||||||||||||||||||||||||||||||||
Interest Rate Derivative Assets, at Fair Value | 0 | 0 | 26,011 | 4,307 | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||
Notes payable | 1,767,124 | 1,771,891 | 1,767,124 | 1,767,124 | 1,771,891 | |||||||||||||||||||||||||||||||||||||||||
Derivative instruments, at fair value | $ 0 | $ 0 | $ (51) | $ 76 | $ 0 | $ 0 | ||||||||||||||||||||||||||||||||||||||||
Fair Value Inputs, Cap Rate | 8.30% | 8.80% | 8.50% | 8.80% | ||||||||||||||||||||||||||||||||||||||||||
Fair Value Inputs, Long-term Revenue Growth Rate | (8.30%) | 2.50% | ||||||||||||||||||||||||||||||||||||||||||||
Fair Value Inputs, Discount Rate | 10.50% | 10.50% | ||||||||||||||||||||||||||||||||||||||||||||
|
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|
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|
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|
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|
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|
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|
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|
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|
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|
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|
Equity and Capital Equity and Capital - Common Stock (Details) (USD $)
Share data in Thousands, except Per Share data, unless otherwise specified |
3 Months Ended | 6 Months Ended | 6 Months Ended | |||||||
---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2013
|
Jun. 30, 2013
|
Aug. 10, 2012
Maximum
|
Jun. 30, 2013
Restricted Stock [Member]
|
Jun. 30, 2013
Accumulated Other Comprehensive Income (Loss) [Member]
|
Dec. 31, 2012
Accumulated Other Comprehensive Income (Loss) [Member]
|
Jun. 30, 2013
Loss on Settlement of Derivative Instruments [Member]
|
Dec. 31, 2012
Loss on Settlement of Derivative Instruments [Member]
|
Jun. 30, 2013
Fair Value of Derivative Instruments [Member]
|
Dec. 31, 2012
Fair Value of Derivative Instruments [Member]
|
|
Class of Stock [Line Items] | ||||||||||
Accumulated other comprehensive loss | $ (31,319,000) | $ (57,715,000) | $ (57,267,000) | $ (61,991,000) | $ 25,948,000 | $ 4,276,000 | ||||
Equity Issuances, Amount Available for Issuance | 28,200,000 | 28,200,000 | 150,000,000 | |||||||
Common Stock, Shares, Issued | 873 | 1,869 | ||||||||
Weighted Average Price Per Share | $ 54.22 | $ 53.37 | ||||||||
Net proceeds from common stock issuance | 47,377,000 | 99,774,000 | ||||||||
Payments of Stock Issuance Costs | $ 709,000 | $ 1,496,000 | ||||||||
Weighted average grant date fair value (in dollars per share) | $ 52.80 |
X | ||||||||||
- Definition
Equity Issuances, Amount Available for Issuance No definition available.
|
X | ||||||||||
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Weighted Average Price Per Share No definition available.
|
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- Definition
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|
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|
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|
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|
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|
Equity and Capital - Accumulated Other Comprehensive Income (Loss) (Details) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2013
|
Jun. 30, 2012
|
Jun. 30, 2013
|
Jun. 30, 2012
|
|
Accumulated Other Comprehensive Income Loss [Roll Forward] | ||||
Amortization of loss on derivative instruments | $ (2,366) | $ (2,366) | $ (4,732) | $ (4,729) |
Loss on Settlement of Derivative Instruments [Member]
|
||||
Accumulated Other Comprehensive Income Loss [Roll Forward] | ||||
Beginning balance at December 31, 2012 | (61,991) | |||
Net gain on cash flow derivative instruments | 0 | |||
Amortization of loss on derivative instruments | (4,724) | |||
Current period other comprehensive income, net | 4,724 | |||
Ending balance at June 30, 2013 | (57,267) | (57,267) | ||
Fair Value of Derivative Instruments [Member]
|
||||
Accumulated Other Comprehensive Income Loss [Roll Forward] | ||||
Beginning balance at December 31, 2012 | 4,276 | |||
Net gain on cash flow derivative instruments | 21,664 | |||
Amortization of loss on derivative instruments | (8) | |||
Current period other comprehensive income, net | 21,672 | |||
Ending balance at June 30, 2013 | 25,948 | 25,948 | ||
Accumulated Other Comprehensive Income (Loss) [Member]
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||||
Accumulated Other Comprehensive Income Loss [Roll Forward] | ||||
Beginning balance at December 31, 2012 | (57,715) | |||
Net gain on cash flow derivative instruments | 21,664 | |||
Amortization of loss on derivative instruments | (4,732) | |||
Current period other comprehensive income, net | 26,396 | |||
Ending balance at June 30, 2013 | $ (31,319) | $ (31,319) |
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Stock-Based Compensation (Details) (USD $)
In Thousands, except Share data, unless otherwise specified |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2013
|
Jun. 30, 2012
|
Jun. 30, 2013
|
Jun. 30, 2012
|
|
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs, Capitalized Amount | $ (557) | $ (482) | $ (948) | $ (960) |
Stock-based compensation, net of capitalization | 3,135 | 2,456 | 6,159 | 4,903 |
Restricted Stock [Member]
|
||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Allocated Share-based Compensation Expense | 3,622 | 2,863 | 6,978 | 5,726 |
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures | 248,000 | |||
Weighted average grant date fair value (in dollars per share) | $ 52.80 | |||
Director [Member]
|
||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Allocated Share-based Compensation Expense | $ 70 | $ 75 | $ 129 | $ 137 |
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Non-Qualified Deferred Compensation Plan (Details) (USD $)
In Millions, unless otherwise specified |
Jun. 30, 2013
|
Dec. 31, 2012
|
---|---|---|
Non Qualified Deferred Compensation Plan [Abstract] | ||
Deferred Compensation Liability, Current and Noncurrent | $ 23.9 | $ 22.8 |
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Earnings per Share and Unit (Details) (USD $)
In Thousands, except Share data, unless otherwise specified |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2013
|
Jun. 30, 2012
|
Jun. 30, 2013
|
Jun. 30, 2012
|
|
Income per common unit - diluted | ||||
Weighted Average Limited Partnership Units Outstanding, Basic | 177,164 | 177,164 | ||
Parent Company [Member]
|
||||
Earnings Per Share [Abstract] | ||||
Income (Loss) from Continuing Operations, Including Portion Attributable to Noncontrolling Interest | $ 23,373 | $ 12,492 | $ 43,525 | $ 29,737 |
Gain on sale of real estate | 1,717 | (21) | 1,717 | 1,814 |
Income (Loss) from Continuing Operations Attributable to Noncontrolling Interest | 316 | 257 | 629 | (140) |
Less: Noncontrolling interests | 340 | 255 | 654 | (128) |
Income (Loss) from Continuing Operations Attributable to Parent | 24,774 | 12,214 | 44,613 | 31,691 |
Preferred stock dividends | (5,265) | (5,396) | (10,531) | (19,333) |
Less: Dividends paid on unvested restricted stock | 185 | 206 | 369 | 411 |
Net income attributable to common stockholders | 31,679 | 5,491 | 47,049 | 18,467 |
Add: Dividends paid on Treasury Method restricted stock | 30 | 23 | 52 | 35 |
Net income for common stock unit/holders - diluted | 31,709 | 5,514 | 47,101 | 18,502 |
Discontinued operations | 12,379 | (1,123) | 13,361 | 6,532 |
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Noncontrolling Interest | 24 | (2) | 25 | 12 |
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent | 12,355 | (1,121) | 13,336 | 6,520 |
Weighted average common shares/units outstanding for basic EPS/EPU | 91,422,000 | 89,489,000 | 90,742,000 | 89,462,000 |
Incremental shares to be issued under unvested restricted stock | 64,000 | 51,000 | 56,000 | 37,000 |
Weighted average common shares/units outstanding for diluted EPS/EPU | 91,486,000 | 89,540,000 | 90,798,000 | 89,499,000 |
Income per common share/unit - basic: | ||||
Continuing operations (in dollars per share) | $ 0.21 | $ 0.07 | $ 0.37 | $ 0.14 |
Discontinued operations (in dollars per share) | $ 0.14 | $ (0.01) | $ 0.15 | $ 0.07 |
Net income attributable to common stockholders (in dollars per share) | $ 0.35 | $ 0.06 | $ 0.52 | $ 0.21 |
Income per common share/unit - diluted: | ||||
Continuing operations (in dollars per share) | $ 0.21 | $ 0.07 | $ 0.37 | $ 0.14 |
Discontinued operations (in dollars per share) | $ 0.14 | $ (0.01) | $ 0.15 | $ 0.07 |
Net income attributable to common stockholders (in dollars per share) | $ 0.35 | $ 0.06 | $ 0.52 | $ 0.21 |
Partnership Interest [Member]
|
||||
Earnings Per Share [Abstract] | ||||
Income (Loss) from Continuing Operations, Including Portion Attributable to Noncontrolling Interest | 23,373 | 12,492 | 43,525 | 29,737 |
Gain on sale of real estate | 1,717 | (21) | 1,717 | 1,814 |
Less: Noncontrolling interests | 270 | 232 | 545 | 424 |
Income (Loss) from Continuing Operations Attributable to Parent | 24,844 | 12,237 | 44,722 | 31,139 |
Less: Dividends paid on unvested restricted stock | 185 | 206 | 369 | 411 |
Net income attributable to common stockholders | 31,749 | 5,514 | 47,158 | 18,544 |
Add: Dividends paid on Treasury Method restricted stock | (30) | (23) | (52) | (35) |
Net income for common stock unit/holders - diluted | 31,779 | 5,537 | 47,210 | 18,579 |
Discontinued operations | 12,379 | (1,123) | 13,361 | 6,532 |
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Noncontrolling Interest | 24 | (2) | 25 | 12 |
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent | 12,355 | (1,121) | 13,336 | 6,520 |
Preferred unit distributions | 5,265 | 5,396 | 10,531 | 18,704 |
Weighted average common shares/units outstanding for basic EPS/EPU | 91,600,000 | 89,666,000 | 90,920,000 | 89,639,000 |
Incremental shares to be issued under unvested restricted stock | 64,000 | 51,000 | 56,000 | 37,000 |
Weighted average common shares/units outstanding for diluted EPS/EPU | 91,664,000 | 89,717,000 | 90,976,000 | 89,676,000 |
Income per common unit - basic | ||||
Continuing operations (in dollars per share) | $ 0.21 | $ 0.07 | $ 0.37 | $ 0.14 |
Discontinued operations (in dollars per share) | $ 0.14 | $ (0.01) | $ 0.15 | $ 0.07 |
Net income attributable to common unit holders (in dollars per share) | $ 0.35 | $ 0.06 | $ 0.52 | $ 0.21 |
Income per common unit - diluted | ||||
Continuing operations (in dollars per share) | $ 0.21 | $ 0.07 | $ 0.37 | $ 0.14 |
Discontinued operations (in dollars per share) | $ 0.14 | $ (0.01) | $ 0.15 | $ 0.07 |
Net income attributable to common unit holders (in dollars per share) | $ 0.35 | $ 0.06 | $ 0.52 | $ 0.21 |
Continuing Operations [Member] | Parent Company [Member]
|
||||
Earnings Per Share [Abstract] | ||||
Net income attributable to common stockholders | 19,324 | 6,612 | 33,713 | 11,947 |
Net income for common stock unit/holders - diluted | 19,354 | 6,635 | 33,765 | 11,982 |
Continuing Operations [Member] | Partnership Interest [Member]
|
||||
Earnings Per Share [Abstract] | ||||
Income (Loss) from Continuing Operations Attributable to Noncontrolling Interest | 246 | 234 | 520 | 412 |
Net income attributable to common stockholders | 19,394 | 6,635 | 33,822 | 12,024 |
Net income for common stock unit/holders - diluted | $ 19,424 | $ 6,658 | $ 33,874 | $ 12,059 |
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Dividends Paid on Treasury Method Restricted Stock No definition available.
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Dividends Paid on Unvested Restricted Stock No definition available.
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Preferred Unit Dividends And Other Adjustments No definition available.
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Commitments and Contingencies, Letters of Credit (Details) (USD $)
|
Jun. 30, 2013
|
Dec. 31, 2012
|
---|---|---|
Line of Credit Facility [Line Items] | ||
Line of Credit Facility, Maximum Borrowing Capacity | $ 80,000,000 | |
Letters of Credit Outstanding, Amount | $ 19,300,000 | $ 20,800,000 |
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Letters of Credit, Maximum Borrowing Capacity under Line No definition available.
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