v3.26.3
Investment in Unconsolidated Entities and International Investments - Unconsolidated Property Transactions (Details)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2026
USD ($)
property
Sep. 30, 2025
USD ($)
Sep. 30, 2026
USD ($)
property
Sep. 30, 2025
USD ($)
Oct. 31, 2025
Investment in Unconsolidated Entities          
Total revenue $ 1,814,556 $ 1,601,572 $ 5,362,247 $ 4,573,043  
Operating income (loss) before other items 804,450 812,914 2,390,710 2,284,727  
Consolidated net income (loss) 565,294 702,696 1,707,959 1,824,237  
Gain (loss) due to disposal, exchange, or revaluation of equity interests, net (8,259) (8,871) (26,588) 71,636  
TRG          
Investment in Unconsolidated Entities          
Total revenue   177,977   533,161  
Operating income (loss) before other items   73,312   221,596  
Consolidated net income (loss)   48,554   146,748  
Our share of net income (loss)   42,599   128,911  
Amortization of excess Investment   (48,227)   (148,341)  
Other Platform Investments          
Investment in Unconsolidated Entities          
Total revenue 2,466,109 2,888,381 7,313,322 8,493,456  
Operating income (loss) before other items (335,564) 93,624 (657,075) 253,361  
Consolidated net income (loss) (383,170) 44,879 (792,758) 110,932  
Our share of net income (loss) (86,766) 19,309 (165,808) 53,733  
Amortization of excess Investment (692) $ (692) (2,076) (2,076)  
Level 1 mark-to-market adjustment of equity method investment, pre tax 120,000   120,000    
Level 1 mark-to-market adjustment of equity method investment, net of tax $ 90,000   $ 90,000    
Jamestown          
Investment in Unconsolidated Entities          
Ownership interest (as a percent) 50.00%   50.00%    
SPARC Group          
Investment in Unconsolidated Entities          
Ownership interest (as a percent) 33.30%   33.30%    
Phoenix Retail, LLC          
Investment in Unconsolidated Entities          
Ownership interest (as a percent) 39.40%   39.40%    
RGG          
Investment in Unconsolidated Entities          
Ownership interest (as a percent) 45.00%   45.00%    
Catalyst          
Investment in Unconsolidated Entities          
Ownership interest (as a percent) 31.30%   31.30%    
Gain (loss) due to disposal, exchange, or revaluation of equity interests, net     $ (19,700) $ 71,600  
Catalyst | SPARC Group          
Investment in Unconsolidated Entities          
Ownership interest (as a percent) 25.00%   25.00%    
TRG          
Investment in Unconsolidated Entities          
Ownership interest (as a percent)         88.00%
TRG | Unconsolidated properties          
Investment in Unconsolidated Entities          
Number of regional, super regional and outlet malls | property 11   11