v3.26.1
Mortgage and Other Indebtedness, Net - Mortgage and Other Indebtedness, net And senior Secured Notes (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Mar. 31, 2026
Jun. 30, 2026
Dec. 31, 2025
Debt Instrument [Line Items]      
Mortgage notes payable   $ 1,842,642 $ 1,501,918
Mortgage and other indebtedness, variable-rate debt   281,760 753,102
Total fixed-rate and variable-rate debt   2,124,402 2,255,020
Unamortized deferred financing costs   (29,708) (9,276)
Debt discounts [1]   (60,683) (74,959)
Total mortgage and other indebtedness, net   $ 2,034,011 $ 2,170,785
Weighted average interest rate (as a percent) [2]   6.56% 5.89%
Five Mortgage Notes Payable      
Debt Instrument [Line Items]      
Remaining debt discount amortization period   4 years 2 months 12 days  
Fixed Rate Interest      
Debt Instrument [Line Items]      
Weighted average interest rate (as a percent) [2]   6.39% 5.39%
Variable Rate Interest      
Debt Instrument [Line Items]      
Weighted average interest rate (as a percent) [2]   7.68% 6.90%
2032 Non-Recourse Bank Loan      
Debt Instrument [Line Items]      
Mortgage notes payable [3]   $ 367,956 $ 367,956
Mortgage and other indebtedness, variable-rate debt [3]   75,000 $ 75,000
Total mortgage and other indebtedness, net   $ 1,711,536  
Interest rate percentage   7.70%  
Fair value carrying amount   $ 367,956  
2032 Non-Recourse Bank Loan | Interest Rate Swap      
Debt Instrument [Line Items]      
Notional amount of the swap   $ 32,000  
Interest rate percentage   7.3975%  
2032 Non-Recourse Bank Loan | Fixed Rate Interest      
Debt Instrument [Line Items]      
Weighted average interest rate (as a percent) [3]   7.70% 7.70%
2032 Non-Recourse Bank Loan | Variable Rate Interest      
Debt Instrument [Line Items]      
Weighted average interest rate (as a percent) [3]   7.72% 7.97%
2032 Non-Recourse Bank Loan | SOFR      
Debt Instrument [Line Items]      
Loan, basis spread rate   4.10%  
Non-recourse Secured Mall Loan Due 2031      
Debt Instrument [Line Items]      
Mortgage notes payable   $ 423,853  
Total mortgage and other indebtedness, net $ 425,000    
Interest rate percentage 7.40%    
Non-recourse Secured Mall Loan Due 2031 | Fixed Rate Interest      
Debt Instrument [Line Items]      
Weighted average interest rate (as a percent) [2]   7.40%  
Non-recourse Secured Lifestyle Centers Loan Due 2032      
Debt Instrument [Line Items]      
Mortgage and other indebtedness, variable-rate debt   $ 176,080  
Total mortgage and other indebtedness, net $ 176,080    
Loan, basis spread rate 410.00%    
Non-recourse Secured Lifestyle Centers Loan Due 2032 | Variable Rate Interest      
Debt Instrument [Line Items]      
Weighted average interest rate (as a percent) [2]   7.72%  
Non-Recourse Loan on an Operating Property      
Debt Instrument [Line Items]      
Mortgage and other indebtedness, variable-rate debt   $ 30,680 $ 31,380
Non-Recourse Loan on an Operating Property | Variable Rate Interest      
Debt Instrument [Line Items]      
Weighted average interest rate (as a percent) [2]   7.37% 7.62%
Non-Recourse Loans on Operating Properties      
Debt Instrument [Line Items]      
Mortgage notes payable   $ 1,050,833 $ 1,133,962
Non-Recourse Loans on Operating Properties | Fixed Rate Interest      
Debt Instrument [Line Items]      
Weighted average interest rate (as a percent) [2]   5.52% 4.64%
Non-Recourse, Secured Term Loan      
Debt Instrument [Line Items]      
Mortgage and other indebtedness, variable-rate debt     $ 646,722
Non-Recourse, Secured Term Loan | Variable Rate Interest      
Debt Instrument [Line Items]      
Weighted average interest rate (as a percent) [2]     6.74%
[1] In conjunction with the acquisition of the Company's partner's 50% joint venture interests in CoolSprings Galleria, Oak Park Mall and West County Center and the implementation of fresh start accounting upon emergence from bankruptcy, 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, which is accreted over the term of the respective debt using the effective interest method. The remaining debt discounts at June 30, 2026 will be accreted over a weighted average period of 4.2 years.
[2] Weighted-average interest rate excludes amortization of deferred financing costs.
[3] The interest rate is a fixed 7.70% for $367,956 of the outstanding loan balance through July 2030, with the remaining loan balance bearing a variable interest rate based on the 30-day SOFR plus 4.10%. The full principal balance will convert to a variable rate after July 2030. 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%.