KITE REALTY GROUP TRUST, 10-K filed on 2/17/2026
Annual Report
v3.25.4
Cover Page - USD ($)
$ in Billions
 12 Months Ended
Dec. 31, 2025
Feb. 13, 2026
Jun. 30, 2025
Entity Information [Line Items]      
Document Type 10-K    
Document Annual Report true    
Document Period End Date Dec. 31, 2025    
Current Fiscal Year End Date --12-31    
Document Transition Report false    
Entity File Number 001-32268    
Entity Registrant Name KITE REALTY GROUP TRUST    
Entity Incorporation, State or Country Code MD    
Entity Tax Identification Number 11-3715772    
Entity Address, Address Line One 30 S. Meridian Street    
Entity Address, Address Line Two Suite 1100    
Entity Address, City or Town Indianapolis    
Entity Address, State or Province IN    
Entity Address, Postal Zip Code 46204    
City Area Code 317    
Local Phone Number 577-5600    
Title of 12(b) Security Common Shares, $0.01 par value per share    
Trading Symbol KRG    
Security Exchange Name NYSE    
Entity Well-known Seasoned Issuer Yes    
Entity Voluntary Filers No    
Entity Current Reporting Status Yes    
Entity Interactive Data Current Yes    
Entity Filer Category Large Accelerated Filer    
Entity Small Business false    
Entity Emerging Growth Company false    
ICFR Auditor Attestation Flag true    
Document Financial Statement Error Correction false    
Entity Shell Company false    
Entity Public Float     $ 4.9
Entity Common Stock, Shares Outstanding   206,792,344  
Documents Incorporated by Reference
Portions of the definitive Proxy Statement related to the Registrant’s Annual Meeting of Shareholders to be filed with the Securities and Exchange Commission are incorporated by reference into Part III, Items 10–14 of this Annual Report on Form 10-K as indicated herein.
    
Entity Central Index Key 0001286043    
Document Fiscal Year Focus 2025    
Document Fiscal Period Focus FY    
Amendment Flag false    
Kite Realty Group, L.P.      
Entity Information [Line Items]      
Entity File Number 333-202666-01    
Entity Registrant Name KITE REALTY GROUP, L.P.    
Entity Incorporation, State or Country Code DE    
Entity Tax Identification Number 20-1453863    
Entity Well-known Seasoned Issuer Yes    
Entity Voluntary Filers No    
Entity Current Reporting Status Yes    
Entity Interactive Data Current Yes    
Entity Filer Category Non-accelerated Filer    
Entity Small Business false    
Entity Emerging Growth Company false    
ICFR Auditor Attestation Flag true    
Entity Shell Company false    
Entity Central Index Key 0001636315    
Document Fiscal Year Focus 2025    
Document Fiscal Period Focus FY    
Amendment Flag false    
v3.25.4
Audit Information
 12 Months Ended
Dec. 31, 2025
Auditor [Line Item]  
Auditor Firm ID 185
Auditor Name KPMG LLP
Auditor Location Chicago, Illinois
Kite Realty Group, L.P.  
Auditor [Line Item]  
Auditor Firm ID 185
Auditor Name KPMG LLP
Auditor Location Chicago, Illinois
v3.25.4
Consolidated Balance Sheets - KRG Trust - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Assets:    
Investment properties, at cost: $ 7,003,479 $ 7,634,191
Less: accumulated depreciation (1,656,191) (1,587,661)
Net investment properties 5,347,288 6,046,530
Cash and cash equivalents 36,761 128,056
Tenant and other receivables, including accrued straight-line rent of $70,940 and $67,377, respectively 127,865 125,768
Restricted cash and escrow deposits 441,605 5,271
Deferred costs, net 181,553 238,213
Short-term deposits 0 350,000
Prepaid and other assets 93,913 104,627
Investments in unconsolidated subsidiaries 364,407 19,511
Assets associated with investment properties held for sale 71,105 73,791
Total assets 6,664,497 7,091,767
Liabilities:    
Mortgage and other indebtedness, net 3,025,478 3,226,930
Accounts payable and accrued expenses 221,118 202,651
Deferred revenue and other liabilities 221,813 246,100
Liabilities associated with investment properties held for sale 4,314 4,009
Total liabilities 3,472,723 3,679,690
Commitments and contingencies
Limited Partners’ interests in the Operating Partnership 116,245 98,074
Equity:    
Common shares, $0.01 par value, 490,000,000 shares authorized, 208,979,900 and 219,667,067 shares issued and outstanding at December 31, 2025 and 2024, respectively 2,090 2,197
Additional paid-in capital 4,612,280 4,868,554
Accumulated other comprehensive income 23,079 36,612
Accumulated deficit (1,563,840) (1,595,253)
Total shareholders’ equity 3,073,609 3,312,110
Noncontrolling interests 1,920 1,893
Total equity 3,075,529 3,314,003
Total liabilities and equity $ 6,664,497 $ 7,091,767
v3.25.4
Consolidated Balance Sheets (Parentheticals) - KRG Trust - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Statement of Financial Position [Abstract]    
Accrued straight-line rent $ 70,940 $ 67,377
Common shares, par value (in dollars per share) $ 0.01 $ 0.01
Common shares, shares authorized (in shares) 490,000,000 490,000,000
Common shares, shares issued (in shares) 208,979,900 219,667,067
Common shares, shares outstanding (in shares) 208,979,900 219,667,067
v3.25.4
Consolidated Statements of Operations and Comprehensive Income (Loss) - KRG Trust - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Revenue:      
Rental income $ 830,771 $ 826,548 $ 810,146
Total revenue 844,365 837,479 821,342
Expenses:      
Property operating 116,113 113,601 107,958
Real estate taxes 104,531 103,893 102,426
General, administrative and other 55,459 52,558 56,142
Depreciation and amortization 373,287 393,335 426,361
Impairment charges 51,849 66,201 477
Total expenses 701,239 729,588 693,364
Other (expense) income:      
Interest expense (132,577) (125,691) (105,349)
Income tax expense of taxable REIT subsidiaries (467) (139) (533)
Gain (loss) on sales of operating properties, net 291,962 (864) 22,601
Net gains from outlot sales 6,096 4,363 1,662
Loss on extinguishment of debt 0 (180) 0
Equity in (loss) earnings of unconsolidated subsidiaries (11,650) (1,158) 33
Gain on sale of unconsolidated property, net 0 2,325 0
Other income, net 9,038 17,869 1,991
Net income 305,528 4,416 48,383
Net income attributable to noncontrolling interests (6,865) (345) (885)
Net income attributable to common shareholders $ 298,663 $ 4,071 $ 47,498
Net income per common share      
Net income per common share – basic (in dollars per share) $ 1.37 $ 0.02 $ 0.22
Net income per common share – diluted (in dollars per share) $ 1.37 $ 0.02 $ 0.22
Weighted average common shares outstanding - basic (in shares) 218,310,451 219,614,149 219,344,832
Weighted average common shares outstanding - diluted (in shares) 218,429,473 219,727,496 219,728,283
Change in fair value of derivatives $ (13,637) $ (15,937) $ (22,008)
Total comprehensive income (loss) 291,891 (11,521) 26,375
Comprehensive income attributable to noncontrolling interests (6,762) (231) (786)
Comprehensive income (loss) attributable to the Company 285,129 (11,752) 25,589
Other property-related revenue      
Revenue:      
Other revenue 9,354 6,268 6,830
Fee income      
Revenue:      
Other revenue $ 4,240 $ 4,663 $ 4,366
v3.25.4
Consolidated Statements of Shareholders' Equity - KRG Trust - USD ($)
$ in Thousands
Total
Common Shares
Additional Paid-in Capital
Accumulated Other Comprehensive (Loss) Income
Accumulated Deficit
Balance at beginning of period (in shares) at Dec. 31, 2022   219,185,658      
Balance at beginning of period at Dec. 31, 2022 $ 3,766,515 $ 2,192 $ 4,897,736 $ 74,344 $ (1,207,757)
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Stock compensation activity (in shares)   189,610      
Stock compensation activity 10,791 $ 2 10,789    
Other comprehensive loss (21,909)     (21,909)  
Distributions to common shareholders (212,824)       (212,824)
Net income attributable to common shareholders 47,498       47,498
Exchange of redeemable noncontrolling interests for common shares (in shares)   73,161      
Exchange of redeemable noncontrolling interests for common shares 1,568   1,568    
Adjustment to redeemable noncontrolling interests (23,501)   (23,501)    
Balance at end of period (in shares) at Dec. 31, 2023   219,448,429      
Balance at end of period at Dec. 31, 2023 3,568,138 $ 2,194 4,886,592 52,435 (1,373,083)
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Stock compensation activity (in shares)   218,638      
Stock compensation activity 10,770 $ 3 10,767    
Other comprehensive loss (15,823)     (15,823)  
Distributions to common shareholders (226,241)       (226,241)
Net income attributable to common shareholders 4,071       4,071
Adjustment to redeemable noncontrolling interests $ (28,805)   (28,805)    
Balance at end of period (in shares) at Dec. 31, 2024 219,667,067 219,667,067      
Balance at end of period at Dec. 31, 2024 $ 3,312,110 $ 2,197 4,868,554 36,612 (1,595,253)
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Stock compensation activity (in shares)   168,219      
Stock compensation activity 10,657 $ 1 10,656    
Shares repurchased through Share Repurchase Program (in shares)   (10,855,386)      
Shares repurchased through Share Repurchase Program (247,963) $ (108) (247,855)    
Other comprehensive loss (13,533)     (13,533)  
Distributions to common shareholders (267,250)       (267,250)
Net income attributable to common shareholders 298,663       298,663
Adjustment to redeemable noncontrolling interests $ (19,075)   (19,075)    
Balance at end of period (in shares) at Dec. 31, 2025 208,979,900 208,979,900      
Balance at end of period at Dec. 31, 2025 $ 3,073,609 $ 2,090 $ 4,612,280 $ 23,079 $ (1,563,840)
v3.25.4
Consolidated Statements of Cash Flows - KRG Trust - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities:      
Net income $ 305,528 $ 4,416 $ 48,383
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 380,155 397,985 429,970
(Gain) loss on sales of operating properties, net (291,962) 864 (22,601)
Net gains from outlot sales (6,096) (4,363) (1,662)
Gain on sale of unconsolidated property, net 0 (2,325) 0
Impairment charges 51,849 66,201 477
Loss on extinguishment of debt 0 180 0
Straight-line rent (10,354) (12,089) (11,812)
Compensation expense for equity awards 10,804 10,740 10,116
Amortization of debt fair value adjustments (6,273) (12,038) (13,366)
Amortization of in-place lease assets and liabilities (8,300) (10,078) (12,025)
Equity in loss (earnings) of unconsolidated joint ventures 11,650 1,158 (33)
Changes in assets and liabilities:      
Tenant receivables (2,906) (2,610) (940)
Deferred costs and other assets (8,402) (20,442) (28,217)
Accounts payable, accrued expenses, deferred revenue and other liabilities 3,966 1,429 (3,642)
Net cash provided by operating activities 429,659 419,028 394,648
Cash flows from investing activities:      
Acquisitions of interests in properties (67,854) (40,561) (78,274)
Capital expenditures (152,005) (140,470) (144,656)
Net proceeds from outlot sales 12,858 13,198 3,166
Net proceeds from sales of operating properties 721,823 30,409 137,687
Investments in unconsolidated subsidiaries (253,924) 0 0
Investment in short-term deposits 0 (615,000) 0
Proceeds from short-term deposits 350,000 265,000 0
Small business loan repayments 0 0 346
Distributions from unconsolidated joint ventures 4,201 1,618 0
Capital contributions to unconsolidated joint ventures (1,569) (13,185) 0
Net cash provided by (used in) investing activities 613,530 (498,991) (81,731)
Cash flows from financing activities:      
Proceeds from issuance of common shares, net 78 74 86
Repurchases of common shares upon the vesting of restricted shares (1,339) (907) (767)
Shares repurchased through Share Repurchase Program (247,963) 0 0
Debt and equity issuance costs (4,279) (18,992) (767)
Loan proceeds 816,539 732,993 369,095
Loan payments (1,018,248) (314,756) (544,410)
Distributions paid – common shareholders (236,477) (221,793) (210,546)
Distributions paid – redeemable noncontrolling interests (6,377) (3,717) (2,952)
Distributions to noncontrolling interests (284) (817) (3,196)
Net cash (used in) provided by financing activities (698,350) 172,085 (393,457)
Net change in cash, cash equivalents and restricted cash 344,839 92,122 (80,540)
Cash, cash equivalents and restricted cash, beginning of year 133,552 41,430 121,970
Cash, cash equivalents and restricted cash, end of year 478,391 133,552 41,430
Supplemental disclosures:      
Cash paid for interest, net of capitalized interest 133,407 130,630 120,870
Non-cash investing and financing activities:      
Accrued capital expenditures and tenant improvements 7,241 10,259 9,780
Contribution of real estate and working capital in exchange for equity investment in unconsolidated joint venture 122,622 0 0
Exchange of redeemable noncontrolling interests for common shares $ 0 $ 0 $ 1,568
v3.25.4
Consolidated Balance Sheets - KRG, LP - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Assets:    
Investment properties, at cost: $ 7,003,479 $ 7,634,191
Less: accumulated depreciation (1,656,191) (1,587,661)
Net investment properties 5,347,288 6,046,530
Cash and cash equivalents 36,761 128,056
Tenant and other receivables, including accrued straight-line rent of $70,940 and $67,377, respectively 127,865 125,768
Restricted cash and escrow deposits 441,605 5,271
Deferred costs, net 181,553 238,213
Short-term deposits 0 350,000
Prepaid and other assets 93,913 104,627
Investments in unconsolidated subsidiaries 364,407 19,511
Assets associated with investment properties held for sale 71,105 73,791
Total assets 6,664,497 7,091,767
Liabilities:    
Mortgage and other indebtedness, net 3,025,478 3,226,930
Accounts payable and accrued expenses 221,118 202,651
Deferred revenue and other liabilities 221,813 246,100
Liabilities associated with investment properties held for sale 4,314 4,009
Total liabilities 3,472,723 3,679,690
Commitments and contingencies
Limited Partners’ interests in the Operating Partnership 116,245 98,074
Partners’ Equity:    
Common equity, 208,979,900 and 219,667,067 units issued and outstanding at December 31, 2025 and 2024, respectively 2,090 2,197
Accumulated other comprehensive income 23,079 36,612
Total shareholders’ equity 3,073,609 3,312,110
Noncontrolling interests 1,920 1,893
Total equity 3,075,529 3,314,003
Total liabilities and equity 6,664,497 7,091,767
Kite Realty Group, L.P.    
Assets:    
Investment properties, at cost: 7,003,479 7,634,191
Less: accumulated depreciation (1,656,191) (1,587,661)
Net investment properties 5,347,288 6,046,530
Cash and cash equivalents 36,761 128,056
Tenant and other receivables, including accrued straight-line rent of $70,940 and $67,377, respectively 127,865 125,768
Restricted cash and escrow deposits 441,605 5,271
Deferred costs, net 181,553 238,213
Short-term deposits 0 350,000
Prepaid and other assets 93,913 104,627
Investments in unconsolidated subsidiaries 364,407 19,511
Assets associated with investment properties held for sale 71,105 73,791
Total assets 6,664,497 7,091,767
Liabilities:    
Mortgage and other indebtedness, net 3,025,478 3,226,930
Accounts payable and accrued expenses 221,118 202,651
Deferred revenue and other liabilities 221,813 246,100
Liabilities associated with investment properties held for sale 4,314 4,009
Total liabilities 3,472,723 3,679,690
Commitments and contingencies
Limited Partners’ interests in the Operating Partnership 116,245 98,074
Partners’ Equity:    
Common equity, 208,979,900 and 219,667,067 units issued and outstanding at December 31, 2025 and 2024, respectively 3,050,530 3,275,498
Accumulated other comprehensive income 23,079 36,612
Total shareholders’ equity 3,073,609 3,312,110
Noncontrolling interests 1,920 1,893
Total equity 3,075,529 3,314,003
Total liabilities and equity $ 6,664,497 $ 7,091,767
v3.25.4
Consolidated Balance Sheets (Parentheticals) - KRG, LP - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Accrued straight-line rent $ 70,940 $ 67,377
Common shares, shares issued (in shares) 208,979,900 219,667,067
Common shares, shares outstanding (in shares) 208,979,900 219,667,067
Kite Realty Group, L.P.    
Accrued straight-line rent $ 70,940 $ 67,377
Common shares, shares issued (in shares) 208,979,900 219,667,067
Common shares, shares outstanding (in shares) 208,979,900 219,667,067
v3.25.4
Consolidated Statements of Operations and Comprehensive Income (Loss) - KRG, LP - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Revenue:      
Rental income $ 830,771 $ 826,548 $ 810,146
Total revenue 844,365 837,479 821,342
Expenses:      
Property operating 116,113 113,601 107,958
Real estate taxes 104,531 103,893 102,426
General, administrative and other 55,459 52,558 56,142
Depreciation and amortization 373,287 393,335 426,361
Impairment charges 51,849 66,201 477
Total expenses 701,239 729,588 693,364
Other (expense) income:      
Interest expense (132,577) (125,691) (105,349)
Income tax expense of taxable REIT subsidiaries (467) (139) (533)
Gain (loss) on sales of operating properties, net 291,962 (864) 22,601
Net gains from outlot sales 6,096 4,363 1,662
Loss on extinguishment of debt 0 (180) 0
Equity in (loss) earnings of unconsolidated subsidiaries (11,650) (1,158) 33
Gain on sale of unconsolidated property, net 0 2,325 0
Other income, net 9,038 17,869 1,991
Net income 305,528 4,416 48,383
Net income attributable to noncontrolling interests (6,865) (345) (885)
Net income attributable to common shareholders $ 298,663 $ 4,071 $ 47,498
Net income per common share      
Net income per common share – basic (in dollars per share) $ 1.37 $ 0.02 $ 0.22
Net income per common share – diluted (in dollars per share) $ 1.37 $ 0.02 $ 0.22
Weighted average common shares outstanding - basic (in shares) 218,310,451 219,614,149 219,344,832
Weighted average common shares outstanding - diluted (in shares) 218,429,473 219,727,496 219,728,283
Change in fair value of derivatives $ (13,637) $ (15,937) $ (22,008)
Total comprehensive income (loss) 291,891 (11,521) 26,375
Comprehensive income attributable to noncontrolling interests (6,762) (231) (786)
Comprehensive income (loss) attributable to the Company 285,129 (11,752) 25,589
Other property-related revenue      
Revenue:      
Other revenue 9,354 6,268 6,830
Fee income      
Revenue:      
Other revenue 4,240 4,663 4,366
Kite Realty Group, L.P.      
Revenue:      
Rental income 830,771 826,548 810,146
Total revenue 844,365 837,479 821,342
Expenses:      
Property operating 116,113 113,601 107,958
Real estate taxes 104,531 103,893 102,426
General, administrative and other 55,459 52,558 56,142
Depreciation and amortization 373,287 393,335 426,361
Impairment charges 51,849 66,201 477
Total expenses 701,239 729,588 693,364
Other (expense) income:      
Interest expense (132,577) (125,691) (105,349)
Income tax expense of taxable REIT subsidiaries (467) (139) (533)
Gain (loss) on sales of operating properties, net 291,962 (864) 22,601
Net gains from outlot sales 6,096 4,363 1,662
Loss on extinguishment of debt 0 (180) 0
Equity in (loss) earnings of unconsolidated subsidiaries (11,650) (1,158) 33
Gain on sale of unconsolidated property, net 0 2,325 0
Other income, net 9,038 17,869 1,991
Net income 305,528 4,416 48,383
Net income attributable to noncontrolling interests (311) (280) (257)
Net income attributable to common shareholders 305,217 4,136 48,126
Allocation of net income:      
Limited Partners 6,554 65 628
Parent Company $ 298,663 $ 4,071 $ 47,498
Net income per common share      
Net income per common share – basic (in dollars per share) $ 1.37 $ 0.02 $ 0.22
Net income per common share – diluted (in dollars per share) $ 1.37 $ 0.02 $ 0.22
Weighted average common shares outstanding - basic (in shares) 223,073,641 223,416,919 222,514,956
Weighted average common shares outstanding - diluted (in shares) 223,192,663 223,530,266 222,898,407
Change in fair value of derivatives $ (13,637) $ (15,937) $ (22,008)
Total comprehensive income (loss) 291,891 (11,521) 26,375
Comprehensive income attributable to noncontrolling interests (311) (280) (257)
Comprehensive income (loss) attributable to the Company 291,580 (11,801) 26,118
Kite Realty Group, L.P. | Other property-related revenue      
Revenue:      
Other revenue 9,354 6,268 6,830
Kite Realty Group, L.P. | Fee income      
Revenue:      
Other revenue $ 4,240 $ 4,663 $ 4,366
v3.25.4
Consolidated Statements of Partners' Equity - KRG, LP - USD ($)
$ in Thousands
Total
Kite Realty Group, L.P.
Kite Realty Group, L.P.
General Partner
Common Equity
Kite Realty Group, L.P.
General Partner
Accumulated Other Comprehensive (Loss) Income
Partners' capital, balance at beginning of period at Dec. 31, 2022   $ 3,766,515 $ 3,692,171 $ 74,344
Increase (Decrease) in Partners' Capital [Roll Forward]        
Stock compensation activity   10,791 10,791  
Other comprehensive loss attributable to Parent Company $ (21,909) (21,909)   (21,909)
Distributions to Parent Company   (212,824) (212,824)  
Net income attributable to Parent Company 47,498 47,498 47,498  
Conversion of Limited Partner Units to shares of the Parent Company   1,568 1,568  
Adjustment to redeemable noncontrolling interests   (23,501) (23,501)  
Partners' capital, balance at end of period at Dec. 31, 2023   3,568,138 3,515,703 52,435
Increase (Decrease) in Partners' Capital [Roll Forward]        
Stock compensation activity   10,770 10,770  
Other comprehensive loss attributable to Parent Company (15,823) (15,823)   (15,823)
Distributions to Parent Company   (226,241) (226,241)  
Net income attributable to Parent Company 4,071 4,071 4,071  
Adjustment to redeemable noncontrolling interests   (28,805) (28,805)  
Partners' capital, balance at end of period at Dec. 31, 2024   3,312,110 3,275,498 36,612
Increase (Decrease) in Partners' Capital [Roll Forward]        
Stock compensation activity   10,657 10,657  
Units repurchased in connection with Share Repurchase Program (247,963) (247,963) (247,963)  
Other comprehensive loss attributable to Parent Company (13,533) (13,533)   (13,533)
Distributions to Parent Company   (267,250) (267,250)  
Net income attributable to Parent Company $ 298,663 298,663 298,663  
Adjustment to redeemable noncontrolling interests   (19,075) (19,075)  
Partners' capital, balance at end of period at Dec. 31, 2025   $ 3,073,609 $ 3,050,530 $ 23,079
v3.25.4
Consolidated Statements of Cash Flows - KRG, LP - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities:      
Net income $ 305,528 $ 4,416 $ 48,383
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 380,155 397,985 429,970
(Gain) loss on sales of operating properties, net (291,962) 864 (22,601)
Net gains from outlot sales (6,096) (4,363) (1,662)
Gain on sale of unconsolidated property, net 0 (2,325) 0
Impairment charges 51,849 66,201 477
Loss on extinguishment of debt 0 180 0
Straight-line rent (10,354) (12,089) (11,812)
Compensation expense for equity awards 10,804 10,740 10,116
Amortization of debt fair value adjustments (6,273) (12,038) (13,366)
Amortization of in-place lease assets and liabilities (8,300) (10,078) (12,025)
Equity in loss (earnings) of unconsolidated joint ventures 11,650 1,158 (33)
Changes in assets and liabilities:      
Tenant receivables (2,906) (2,610) (940)
Deferred costs and other assets (8,402) (20,442) (28,217)
Accounts payable, accrued expenses, deferred revenue and other liabilities 3,966 1,429 (3,642)
Net cash provided by operating activities 429,659 419,028 394,648
Cash flows from investing activities:      
Acquisitions of interests in properties (67,854) (40,561) (78,274)
Capital expenditures (152,005) (140,470) (144,656)
Net proceeds from outlot sales 12,858 13,198 3,166
Net proceeds from sales of operating properties 721,823 30,409 137,687
Investments in unconsolidated subsidiaries (253,924) 0 0
Investment in short-term deposits 0 (615,000) 0
Proceeds from short-term deposits 350,000 265,000 0
Small business loan repayments 0 0 346
Distributions from unconsolidated joint ventures 4,201 1,618 0
Capital contributions to unconsolidated joint ventures (1,569) (13,185) 0
Net cash provided by (used in) investing activities 613,530 (498,991) (81,731)
Cash flows from financing activities:      
Proceeds from issuance of common shares, net 78 74 86
Repurchases of common shares upon the vesting of restricted shares (1,339) (907) (767)
Shares repurchased through Share Repurchase Program (247,963) 0 0
Debt and equity issuance costs (4,279) (18,992) (767)
Loan proceeds 816,539 732,993 369,095
Loan payments (1,018,248) (314,756) (544,410)
Distributions paid – common unitholders (236,477) (221,793) (210,546)
Distributions paid – redeemable noncontrolling interests (6,377) (3,717) (2,952)
Distributions to noncontrolling interests (284) (817) (3,196)
Net cash (used in) provided by financing activities (698,350) 172,085 (393,457)
Net change in cash, cash equivalents and restricted cash 344,839 92,122 (80,540)
Cash, cash equivalents and restricted cash, beginning of year 133,552 41,430 121,970
Cash, cash equivalents and restricted cash, end of year 478,391 133,552 41,430
Supplemental disclosures:      
Cash paid for interest, net of capitalized interest 133,407 130,630 120,870
Non-cash investing and financing activities:      
Accrued capital expenditures and tenant improvements 7,241 10,259 9,780
Contribution of real estate and working capital in exchange for equity investment in unconsolidated joint venture 122,622 0 0
Conversion of Limited Partner Units to shares of the Parent Company 0 0 1,568
Kite Realty Group, L.P.      
Cash flows from operating activities:      
Net income 305,528 4,416 48,383
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 380,155 397,985 429,970
(Gain) loss on sales of operating properties, net (291,962) 864 (22,601)
Net gains from outlot sales (6,096) (4,363) (1,662)
Gain on sale of unconsolidated property, net 0 (2,325) 0
Impairment charges 51,849 66,201 477
Loss on extinguishment of debt 0 180 0
Straight-line rent (10,354) (12,089) (11,812)
Compensation expense for equity awards 10,804 10,740 10,116
Amortization of debt fair value adjustments (6,273) (12,038) (13,366)
Amortization of in-place lease assets and liabilities (8,300) (10,078) (12,025)
Equity in loss (earnings) of unconsolidated joint ventures 11,650 1,158 (33)
Changes in assets and liabilities:      
Tenant receivables (2,906) (2,610) (940)
Deferred costs and other assets (8,402) (20,442) (28,217)
Accounts payable, accrued expenses, deferred revenue and other liabilities 3,966 1,429 (3,642)
Net cash provided by operating activities 429,659 419,028 394,648
Cash flows from investing activities:      
Acquisitions of interests in properties (67,854) (40,561) (78,274)
Capital expenditures (152,005) (140,470) (144,656)
Net proceeds from outlot sales 12,858 13,198 3,166
Net proceeds from sales of operating properties 721,823 30,409 137,687
Investments in unconsolidated subsidiaries (253,924) 0 0
Investment in short-term deposits 0 (615,000) 0
Proceeds from short-term deposits 350,000 265,000 0
Small business loan repayments 0 0 346
Distributions from unconsolidated joint ventures 4,201 1,618 0
Capital contributions to unconsolidated joint ventures (1,569) (13,185) 0
Net cash provided by (used in) investing activities 613,530 (498,991) (81,731)
Cash flows from financing activities:      
Proceeds from issuance of common shares, net 78 74 86
Repurchases of common shares upon the vesting of restricted shares (1,339) (907) (767)
Shares repurchased through Share Repurchase Program (247,963) 0 0
Debt and equity issuance costs (4,279) (18,992) (767)
Loan proceeds 816,539 732,993 369,095
Loan payments (1,018,248) (314,756) (544,410)
Distributions paid – common unitholders (236,477) (221,793) (210,546)
Distributions paid – redeemable noncontrolling interests (6,377) (3,717) (2,952)
Distributions to noncontrolling interests (284) (817) (3,196)
Net cash (used in) provided by financing activities (698,350) 172,085 (393,457)
Net change in cash, cash equivalents and restricted cash 344,839 92,122 (80,540)
Cash, cash equivalents and restricted cash, beginning of year 133,552 41,430 121,970
Cash, cash equivalents and restricted cash, end of year 478,391 133,552 41,430
Supplemental disclosures:      
Cash paid for interest, net of capitalized interest 133,407 130,630 120,870
Non-cash investing and financing activities:      
Accrued capital expenditures and tenant improvements 7,241 10,259 9,780
Contribution of real estate and working capital in exchange for equity investment in unconsolidated joint venture 122,622 0 0
Conversion of Limited Partner Units to shares of the Parent Company $ 0 $ 0 $ 1,568
v3.25.4
ORGANIZATION AND BASIS OF PRESENTATION
 12 Months Ended
Dec. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
ORGANIZATION AND BASIS OF PRESENTATION ORGANIZATION AND BASIS OF PRESENTATION
Kite Realty Group Trust (the “Parent Company”) is a publicly held REIT that, through its majority-owned subsidiary, Kite Realty Group, L.P. (the “Operating Partnership”), owns interests in various operating subsidiaries and joint ventures engaged in the ownership, operation, acquisition, development, and redevelopment of high-quality, open-air, grocery-anchored shopping centers and vibrant mixed-use assets that are primarily located in high-growth Sun Belt markets and select strategic gateway markets in the United States. The terms “Company,” “we,” “us,” and “our” refer to the Parent Company and the Operating Partnership, collectively, and those entities owned or controlled by the Parent Company and/or the Operating Partnership.
The Operating Partnership was formed on August 16, 2004, when the Parent Company contributed properties and the net proceeds from an initial public offering (“IPO”) of shares of its common stock to the Operating Partnership. The Parent Company was organized in Maryland in 2004 to succeed in the acquisition, development, construction and real estate businesses of its predecessor. We believe the Company qualifies as a real estate investment trust (“REIT”) under sections 856-860 of the Internal Revenue Code of 1986, as amended (the “Code”).
The Parent Company is the sole general partner of the Operating Partnership and, as of December 31, 2025, owned approximately 97.7% of the common partnership interests in the Operating Partnership (the “General Partner Units”). The remaining 2.3% of the common partnership interests (the “Limited Partner Units” and, together with the General Partner Units, the “Common Units”) were owned by the limited partners. As the sole general partner of the Operating Partnership, the Parent Company has full, exclusive and complete responsibility and discretion in the day-to-day management and control of the Operating Partnership. The Parent Company and the Operating Partnership operate as one enterprise. The management of the Parent Company consists of the same members as the management of the Operating Partnership. As the sole general partner with control of the Operating Partnership, the Parent Company consolidates the Operating Partnership for financial reporting purposes, and the Parent Company does not have any significant assets other than its investment in the Operating Partnership.
The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”). GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and revenues and expenses during the reported period. Actual results could differ from those estimates.
In accordance with the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 205, Presentation of Financial Statements, certain prior year balances have been reclassified to conform to the current period presentation. Specifically, all gains on sales of land parcels have been presented in a single line item, “Net gains from outlot sales,” rather than the previous presentation where it was included as a component of “Other property-related revenue” in the accompanying consolidated statements of operations and comprehensive income (loss).
Unless otherwise noted, all dollar amounts are stated in thousands, except share, per share, and per square foot data. Number of properties and square feet are unaudited.
As of December 31, 2025, the Company’s portfolio consisted of the following:
PropertiesSquare Footage
Operating retail/mixed-use properties159 24,733,200 
Operating retail/mixed-use properties – unconsolidated joint ventures8 2,146,882 
Total operating retail/mixed-use properties(1)
167 26,880,082 
Standalone office properties(2)
2 412,812 
Development and redevelopment projects:
One Loudoun Expansion— 119,000 
Hamilton Crossing Centre1 — 
Edwards Multiplex – Ontario1 124,614 
(1)Included within the operating retail/mixed-use properties are 10 properties that contain an office component. Excludes two operating retail properties classified as held for sale as of December 31, 2025, as well as Eastgate Crossing, a 152,682 square foot multi-tenant retail property in the Durham-Chapel Hill metropolitan statistical area (“MSA”) that was reclassified from our operating portfolio in September 2025 due to significant disruption caused by severe flooding as a result of Tropical Storm Chantal.
(2)Standalone office properties include the Company’s headquarters at 30 South Meridian and the Carillon medical office building, which was reclassified from active redevelopment into our office portfolio in December 2024.
v3.25.4
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
 12 Months Ended
Dec. 31, 2025
Accounting Policies [Abstract]  
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Investment Properties
Capitalization and Depreciation
Investment properties are recorded at cost and include costs of land acquisition, development, predevelopment, construction, certain allocated overhead, tenant allowances and improvements, and interest and real estate taxes incurred during construction. Significant renovations and improvements are capitalized when they extend the useful life, increase capacity, or improve the efficiency of the asset. If a tenant vacates a space prior to the lease expiration, terminates its lease, or otherwise notifies the Company of its intent to do so, any related unamortized tenant allowances are expensed over the shortened lease period. Ordinary repairs and maintenance that do not extend the useful lives of the respective assets are expensed as incurred and included within “Property operating” expense in the accompanying consolidated statements of operations and comprehensive income (loss).
Predevelopment costs are incurred prior to vertical construction and for certain land held for development during the due diligence phase and include contract deposits, legal and engineering, the cost of internal resources, and other professional fees related to evaluating the feasibility of developing or redeveloping a shopping center or other project. These predevelopment costs are capitalized and included within “Investment properties, at cost” in the accompanying consolidated balance sheets. If we determine that the completion of a development project is no longer probable, all previously incurred predevelopment costs are immediately expensed. Land is transferred to construction in progress once construction commences on the related project.
We also capitalize costs such as land acquisition, building construction, interest, real estate taxes, and the cost of personnel directly involved in the development of our properties. As a portion of a development project becomes operational, we begin depreciating a pro rata amount of the related costs.
Depreciation expense is computed using the straight-line method. Buildings and improvements are depreciated over estimated original useful lives ranging from 10 to 35 years. Tenant improvements and allowances are depreciated over the term of the related lease. Equipment and fixtures are depreciated over five to 10 years. Depreciation may be accelerated for a redevelopment project, including partial demolition of an existing structure, after the asset is assessed for impairment.
The following table summarizes the composition of the Company’s investment properties as of December 31, 2025 and 2024 (in thousands):
December 31, 2025December 31, 2024
Land, buildings and improvements$6,938,588 $7,591,036 
Construction in progress64,891 43,155 
Investment properties, at cost$7,003,479 $7,634,191 
Valuation of Investment Properties
Management reviews our operating and development projects, land parcels, and intangible assets for impairment on a property-by-property basis whenever events or changes in circumstances indicate that the carrying value of the asset may not be recoverable. This review for possible impairment requires certain assumptions, estimates, and significant judgment. Examples of situations considered to be impairment indicators for both operating properties and development projects include, but are not limited to:
•a substantial decline in or continued low occupancy rate or cash flow;
•expected significant declines in occupancy in the near future;
•continued difficulty in leasing space;
•a significant concentration of financially troubled tenants;
•a reduction in the anticipated holding period;
•a cost accumulation or delay in the project completion date significantly above and beyond the original development or redevelopment estimate;
•a significant decrease in the market price not in line with general market trends; and
•any other quantitative or qualitative events or factors deemed significant by the Company’s management or Board of Trustees.
Impairment losses for investment properties and intangible assets are measured when the undiscounted cash flows estimated to be generated by the investment properties during the expected holding period are less than their carrying amounts. The evaluation of impairment is subject to certain management assumptions, including projected net operating income, anticipated holding period, expected capital expenditures, and the capitalization rate used to estimate the property’s residual value. Impairment losses are recorded as the excess of the carrying value over the estimated fair value of the asset. Our impairment review for land and development properties assumes we have the intent and ability to complete the developments or projected uses for the land parcels. If we determine those plans will not be completed or our assumptions with respect to operating assets are not realized, an impairment loss may be appropriate.
Investment Properties Held for Sale
The Company classifies an operating property as held for sale only when the property is available for immediate sale in its present condition and for which management believes it is probable that a sale of the property will be completed within one year, among other factors. An operating property classified as held for sale is carried at the lower of cost or fair value less estimated costs to sell. Depreciation and amortization are suspended during the held-for-sale period. Two properties are classified as held for sale as of December 31, 2025 and one property was classified as held for sale as of December 31, 2024.
Acquisition of Investment Properties
Real estate assets are recognized on our consolidated balance sheets at historical cost, less accumulated depreciation and amortization. Upon acquisition of real estate operating properties, we estimate the fair value of acquired identifiable tangible assets (consisting of land, buildings and improvements) and identified intangible assets and liabilities (consisting of above-
market and below-market leases and in-place leases), assumed debt, and any noncontrolling interest in the acquiree at the date of acquisition based upon an evaluation of information and estimates available at the acquisition date. Based on these estimates, we record the estimated fair value to the applicable assets and liabilities. In making estimates of fair value, several sources are used, including information obtained as a result of pre-acquisition due diligence, marketing, and leasing activities. The estimates of fair value were determined to have primarily relied upon Level 2 and Level 3 inputs, as defined below.
Fair value is determined for tangible assets and intangible assets and liabilities, including:
•the fair value of the building on an as-if-vacant basis and the fair value of the land determined either by comparable market data, real estate tax assessments, independent appraisals, or other relevant data;
•above-market and below-market in-place lease values for acquired properties, which are based on the present value (using an interest rate that reflects the risks associated with the leases acquired) of the difference between (i) the contractual amounts to be paid pursuant to the in-place leases and (ii) management’s estimate of fair market lease rates for the corresponding in-place leases, measured over the remaining non-cancelable term of the leases. Any below-market renewal options are also considered in the in-place lease values. The capitalized above-market and below-market lease values are amortized as a reduction of, or addition to, rental income over the term of the leases. Should a tenant vacate, terminate its lease, or otherwise notify us of its intent to do so, the unamortized portion of the lease intangibles would be charged or credited to income as applicable;
•the value of having a lease in place at the acquisition date. We use independent and internal sources for our estimates to determine the respective in-place lease values. Our estimates of value use methods similar to those used by independent appraisers. Factors we consider in our analysis include an estimate of costs to execute similar leases, including tenant improvements, leasing commissions, and foregone costs related to the reimbursement of property operating expenses, and fair market rent received during the estimated lease-up period as if the space were vacant. The value of in-place leases is amortized to depreciation and amortization expense over the remaining initial terms of the respective leases; and
•the fair value of any assumed financing that is determined to have above- or below-market terms. We use third-party and independent sources for our estimates to determine the respective fair value of each mortgage and other indebtedness, including related derivative instruments, assumed. The fair market value of each is amortized to interest expense over the remaining initial terms of the respective instruments.
We also consider whether there is any value to in-place leases that have a related customer relationship intangible value. Characteristics we consider in determining these values include the nature and extent of existing business relationships with the tenant, growth prospects for developing new business with the tenant, the tenant’s credit quality, and expectations of lease renewals, among other factors. To date, we have not developed a tenant relationship that we consider to have a current intangible value.
Consolidation and Investments in Joint Ventures
The accompanying financial statements are presented on a consolidated basis and include all accounts of the Parent Company, the Operating Partnership, the taxable REIT subsidiaries (“TRSs”) of the Operating Partnership, subsidiaries of the Operating Partnership that are controlled, and any variable interest entities (“VIEs”) in which the Operating Partnership is the primary beneficiary. In general, a VIE is a corporation, partnership, trust, or any other legal structure used for business purposes that either (a) has equity investors that do not provide sufficient financial resources for the entity to support its activities, (b) does not have equity investors with voting rights, or (c) has equity investors whose votes are disproportionate from their economics, and substantially all of the activities are conducted on behalf of the investor with disproportionately fewer voting rights.
The Operating Partnership accounts for properties that are owned by joint ventures in accordance with the consolidation guidance by evaluating each joint venture and determining first whether to follow the VIE or the voting interest entity (“VOE”) model. Once the appropriate consolidation model is identified, the Operating Partnership then evaluates whether it should consolidate the joint venture. Under the VIE model, the Operating Partnership consolidates an entity when it has (i) the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance and (ii) the obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE. Under the VOE model, the
Operating Partnership consolidates an entity when (i) it controls the entity through ownership of a majority voting interest if the entity is not a limited partnership or (ii) it controls the entity through its ability to remove the other partners or owners in the entity, at its discretion, when the entity is a limited partnership.
In determining whether to consolidate a VIE with the Operating Partnership, we consider all relationships between the Operating Partnership and the applicable VIE, including development and management agreements and other contractual arrangements, in determining whether we have the power to direct the activities of the VIE that most significantly affect the VIE’s performance. As of December 31, 2025, we owned investments in two consolidated joint ventures that were VIEs in which the partners did not have substantive participating rights, and we were the primary beneficiary. As of December 31, 2025, these consolidated VIEs had mortgage debt totaling $107.3 million, which was secured by assets of the VIEs totaling $221.6 million. The Operating Partnership guarantees the mortgage debt of these VIEs.
The Operating Partnership is considered a VIE, as the limited partners do not hold kick-out rights or substantive participating rights. The Parent Company consolidates the Operating Partnership as it is the primary beneficiary in accordance with the VIE model. We use the nature-of-distribution approach for purposes of determining whether distributions should be classified as either a return on investment, which would be included in operating activities, or a return of investment, which would be included in investing activities in the accompanying consolidated statements of cash flows. Under this approach, we assess the nature of all distributions to determine the appropriate classification.
Cash and Cash Equivalents
We consider all highly liquid investments purchased with an original maturity of 90 days or less to be cash and cash equivalents. From time to time, such investments may temporarily be held in accounts that exceed the Federal Deposit Insurance Corporation (“FDIC”) and the Securities Investor Protection Corporation (“SIPC”) insurance limits. The Company periodically assesses the credit risk associated with these financial institutions and believes the risk of loss is minimal.
The following table summarizes our total cash, cash equivalents and restricted cash as presented in the accompanying consolidated statements of cash flows for the years ended December 31, 2025, 2024 and 2023 (in thousands):
Year Ended December 31,
202520242023
Cash and cash equivalents$36,761 $128,056 $36,413 
Restricted cash and escrow deposits441,605 5,271 5,017 
Restricted cash associated with investment property held for sale25 225 — 
Cash, cash equivalents and restricted cash$478,391 $133,552 $41,430 
Restricted Cash and Escrow Deposits
Restricted cash and escrow deposits consist of cash held for real estate taxes, property maintenance, insurance, and other requirements at specific properties as required by lending institutions, certain municipalities, or other agreements, as well as funds held in escrow for potential Code Section 1031 tax-deferred exchange transactions (“1031 Exchanges”).
Short-Term Deposits
In January 2024, the Company invested $265.0 million in short-term deposits at Goldman Sachs Bank USA (“Goldman Sachs”) and KeyBank National Association (“KeyBank”). These short-term deposits earned interest at a weighted average interest rate of 5.34% with a maturity date of July 2024. During the year ended December 31, 2024, the Company earned $6.3 million of interest income on the January 2024 deposits, which is recorded within “Other income, net” in the accompanying consolidated statements of operations and comprehensive income (loss).
In August 2024, the Company invested $350.0 million in short-term deposits at Goldman Sachs and KeyBank. These short-term deposits earned interest at a weighted average interest rate of 5.05% with a maturity date of February 2025. During the years ended December 31, 2025 and 2024, the Company earned $2.5 million and $6.6 million, respectively, of interest income on the August 2024 deposits, which is recorded within “Other income, net” in the accompanying consolidated statements of operations and comprehensive income (loss).
Fair Value Measurements
We follow the framework established under ASC 820, Fair Value Measurements and Disclosures, for measuring the fair value of non-financial assets and liabilities that are not required or permitted to be measured at fair value on a recurring basis but only in certain circumstances, such as a business combination or upon determination of an impairment.
Assets and liabilities recorded at fair value in the accompanying consolidated balance sheets are categorized based on the inputs to the valuation techniques as follows:
•Level 1 fair value inputs are quoted prices in active markets for identical instruments to which we have access.
•Level 2 fair value inputs are inputs other than quoted prices included in Level 1 that are observable for similar instruments, either directly or indirectly, and appropriately consider counterparty creditworthiness in the valuation.
•Level 3 fair value inputs reflect our best estimate of inputs and assumptions market participants would use in pricing an instrument at the measurement date. The inputs are unobservable in the market and significant to the valuation estimate.
In instances where the determination of the fair value measurement is based upon inputs from different levels of the fair value hierarchy, the level in the fair value hierarchy within which the entire fair value measurement falls is based on the lowest-level input that is significant to the fair value measurement in its entirety. Our assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the asset or liability.
Note 3, “Acquisitions,” to the accompanying consolidated financial statements includes a discussion of the fair values recorded for wholly owned asset acquisitions. Level 3 inputs to these transactions include our estimations of net rental rates of retail anchors and small shop spaces, capitalization rates, and disposal values. Note 4, “Dispositions and Impairment Charges,” to the accompanying consolidated financial statements includes a discussion of the fair values recorded when we recognized impairment charges during the years ended December 31, 2025, 2024 and 2023. Level 2 inputs to these transactions include the expected sales price from an executed sales contract, and Level 3 inputs consist of our estimation of capitalization rates. Note 9, “Mortgage and Other Indebtedness,” to the accompanying consolidated financial statements includes a discussion of the estimated fair value of fixed- and variable-rate debt, which are estimated using Level 2 and Level 3 inputs. As discussed in Note 10, “Derivative Instruments, Hedging Activities and Other Comprehensive Income,” to the accompanying consolidated financial statements, we have determined that derivative valuations are classified within Level 2 of the fair value hierarchy.
Cash and cash equivalents, accounts receivable, escrows and deposits, and other working capital balances approximate fair value.
Derivative Financial Instruments
The Company accounts for its derivative financial instruments at fair value calculated in accordance with ASC 820, Fair Value Measurements and Disclosures. Gains and losses resulting from changes in the fair value of the derivatives are accounted for depending on their use and whether they qualify for hedge accounting. We use derivative instruments such as interest rate swaps or interest rate locks to mitigate interest rate risk on the related financial instruments.
Changes in the fair value of derivatives that qualify as cash flow hedges are recorded within “Accumulated other comprehensive income” in the accompanying consolidated balance sheets and amortized over the underlying term of the hedged transaction, while any ineffective portion of a derivative’s change in fair value is recognized immediately in earnings. For derivative contracts designated as fair value hedges, the gain or loss on the derivative is included within “Mortgage and other indebtedness, net” in the accompanying consolidated balance sheets. We include the gain or loss on the hedged item in the same account as the offsetting gain or loss on the related derivative contract. As of December 31, 2025 and 2024, all of our derivative financial instruments qualify for hedge accounting.
Revenue Recognition
As a lessor of real estate assets, the Company retains substantially all of the risks and benefits of ownership and accounts for its leases as operating leases.
Contractual minimum base rent, percentage rent, and expense reimbursements from tenants for common area maintenance expenses, insurance, and real estate taxes are our principal sources of revenue. Base minimum rents are recognized on a straight-line basis over the terms of the respective leases. Certain lease agreements contain provisions that provide for additional rents based upon a tenant’s sales volume (contingent overage rent). Overage rent is recognized when tenants achieve the specified sales targets as defined in their lease agreements and is included within “Rental income” in the accompanying consolidated statements of operations and comprehensive income (loss). If we determine that collectibility is probable, we recognize income from rentals based on the methodology described above. If we determine that collectibility is not probable, we recognize income only to the extent that cash has been received from the tenant. We have accounts receivable due from tenants and are subject to the risk of tenant defaults and bankruptcies, which may affect the collection of outstanding receivables. These receivables are reduced for credit loss, which is recognized as a reduction to rental income. We regularly evaluate the collectibility of lease-related receivables by analyzing past-due account balances and consider such factors as the credit quality of the tenant, historical write-off experience, tenant creditworthiness, and current economic trends when evaluating the collectibility of rental income. Although we estimate uncollectible receivables and provide for them through charges against income, actual experience may differ from those estimates.
We recognize the sale of real estate when control transfers to the buyer. As part of our ongoing business strategy, we will, from time to time, sell properties, land parcels, and outlots, some of which are ground-leased to tenants. Net gains realized on outlot sales were $6.1 million, $4.4 million, and $1.7 million for the years ended December 31, 2025, 2024 and 2023, respectively, and are presented in “Net gains from outlot sales” in the accompanying consolidated statements of operations and comprehensive income (loss).
Tenant and Other Receivables and Allowance for Uncollectible Accounts
Tenant receivables consist primarily of billed minimum rent, accrued and billed tenant reimbursements, and accrued straight-line rent. The Company generally does not require specific collateral from its tenants other than corporate or personal guarantees. Other receivables consist primarily of amounts due from municipalities and tenants for non-rental revenue-related activities.
An allowance for uncollectible accounts, including future credit losses of the accrued straight-line rent receivables, is maintained for estimated losses resulting from the inability of certain tenants to meet contractual obligations under their lease agreements. Accounts are written off when, in the opinion of management, the balance is deemed uncollectible. The provision for revenues deemed uncollectible represented 0.8%, 0.6%, and 0.3% of total revenues in each of the years ended December 31, 2025, 2024 and 2023, respectively.
Concentration of Credit Risk
We may be subject to concentrations of credit risk with regard to our cash and cash equivalents. We place cash and temporary cash investments with high-credit-quality financial institutions. From time to time, such cash and investments may temporarily be in excess of insurance limits. In addition, our leases with tenants potentially subject us to a concentration of credit risk related to our accounts receivable and revenue.
For the year ended December 31, 2025, the percentage of the Company’s revenue recognized from tenants leasing space in the states where the majority of our portfolio is concentrated, which includes Texas, Florida, Virginia, New York, and Indiana, was as follows:
Texas26.1%
Florida11.4%
Virginia7.5%
New York7.1%
Indiana6.7%
Income Taxes and REIT Compliance
Parent Company
The Parent Company has been organized and operated, and it intends to continue to operate, in a manner that will enable it to maintain its qualification as a REIT for U.S. federal income tax purposes. As a result, it generally will not be subject to U.S. federal income tax on the earnings that it distributes to the extent it distributes its “REIT taxable income” (determined before the deduction for dividends paid and excluding net capital gains) to shareholders of the Parent Company and meets certain other requirements on a recurring basis. To the extent that it satisfies this distribution requirement but distributes less than 100% of its taxable income, it will be subject to U.S. federal income tax on its undistributed REIT taxable income at regular corporate income tax rates. REITs are subject to a number of organizational and operational requirements. If the Parent Company fails to qualify as a REIT in any taxable year, it will be subject to U.S. federal income tax on its taxable income at regular corporate income tax rates for a period of four years following the year in which qualification is lost. Additionally, we may also be subject to certain taxes enacted by the Inflation Reduction Act of 2022 that are applicable to non-REIT corporations, including the non-deductible 1% excise tax on certain stock repurchases. We may also be subject to certain U.S. federal, state, and local taxes on our income and property and to U.S. federal income and excise taxes on our undistributed taxable income even if the Parent Company does qualify as a REIT. The Operating Partnership intends to continue to make distributions to the Parent Company in amounts sufficient to assist the Parent Company in adhering to REIT requirements and maintaining its REIT status.
We have elected to treat Kite Realty Holdings, LLC and IWR Protective Corporation as TRSs of the Operating Partnership, and we may elect to treat other subsidiaries as TRSs in the future. This election enables us to receive income and provide services that would otherwise be impermissible for a REIT. Deferred tax assets and liabilities are established for temporary differences between the financial reporting bases and the tax bases of assets and liabilities at the tax rates expected to be in effect when the temporary differences reverse. Deferred tax assets are reduced by a valuation allowance if it is more likely than not that some portion or all of the deferred tax assets will not be realized.
Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date. The Company recognizes the effect of income tax positions only if those positions are more likely than not to be sustained. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. The Company records interest related to unrecognized tax benefits within “Interest expense” and penalties within “General, administrative and other” expenses in the accompanying consolidated statements of operations and comprehensive income (loss).
Our tax return for the year ended December 31, 2025 has not been filed as of the filing date of this Annual Report on Form 10-K of the Parent Company and the Operating Partnership. The taxable information presented for our dividends paid in 2025 is based upon management’s estimate. Consequently, the taxable nature of dividends is subject to change. The following table summarizes the tax characterization of the dividends paid by the Parent Company for the years ended December 31, 2025, 2024 and 2023:
Year Ended December 31,
202520242023
Ordinary income83.2%96.4%90.6%
Return of capital0.0%0.0%0.0%
Capital gains16.8%3.6%9.4%
100.0%100.0%100.0%
Operating Partnership
The allocated share of income and loss, other than the operations of our TRSs, is included in the income tax returns of the Operating Partnership’s partners. Accordingly, the only U.S. federal income taxes included in the accompanying consolidated financial statements are in connection with the TRSs.
Noncontrolling Interests 
We report the non-redeemable noncontrolling interests in subsidiaries as equity, and the amount of consolidated net income attributable to these noncontrolling interests is set forth separately in the accompanying consolidated financial statements. The following table summarizes the non-redeemable noncontrolling interests in consolidated properties for the years ended December 31, 2025, 2024 and 2023 (in thousands):
Year Ended December 31,
202520242023
Noncontrolling interests balance as of January 1,$1,893 $2,430 $5,370 
Net income allocable to noncontrolling interests, excluding
redeemable noncontrolling interests
311 280 256 
Distributions to noncontrolling interests(1)
(284)(817)(3,196)
Noncontrolling interests balance as of December 31,$1,920 $1,893 $2,430 
(1)During the year ended December 31, 2023, we received a $3.2 million distribution from excess proceeds related to a third-party financing.
Noncontrolling Interests – Joint Venture
Prior to the merger with RPAI in October 2021, RPAI entered into a joint venture related to the development, ownership, and operation of the multifamily rental portion of the expansion project at One Loudoun Downtown – Pads G & H. The Company owns 90% of the joint venture.
Under terms defined in the joint venture agreement, after construction completion and stabilization of the development project (as defined in the joint venture agreement), the Company has the ability to call, and the joint venture partner has the ability to put to the Company, subject to certain conditions, the joint venture partner’s interest in the joint venture at fair value. As of December 31, 2025, the conditions for exercising the put and call options have been met, but neither the Company nor the joint venture partner has exercised their respective options.
The joint venture is considered a VIE primarily because the Company’s joint venture partner does not have substantive kick-out rights or substantive participating rights. The Company is considered the primary beneficiary, as it has a controlling financial interest in the joint venture. As such, the Company has consolidated this joint venture and presented the joint venture partner’s interests as noncontrolling interests.
Redeemable Noncontrolling Interests – Limited Partners
Limited Partner Units are redeemable noncontrolling interests in the Operating Partnership. We classify redeemable noncontrolling interests in the Operating Partnership outside of permanent equity in the accompanying consolidated balance sheets because we may be required to pay cash to holders of Limited Partner Units upon redemption of their interests in the Operating Partnership or deliver registered shares upon their conversion. The carrying amount of the redeemable noncontrolling interests in the Operating Partnership is reflected at the greater of historical book value or redemption value with a corresponding adjustment to additional paid-in capital. As of December 31, 2025 and 2024, the redemption value of the redeemable noncontrolling interests in the Operating Partnership exceeded the historical book value, and the balances were accordingly adjusted to redemption value.
We allocate net operating results of the Operating Partnership after noncontrolling interests in the consolidated properties based on the partners’ respective weighted average ownership interests. We adjust the redeemable noncontrolling interests in the Operating Partnership at the end of each reporting period to reflect their interests in the Operating Partnership or redemption value. This adjustment is reflected in our shareholders’ and Parent Company’s equity. For the years ended December 31, 2025, 2024 and 2023, the weighted average interests of the Parent Company and the limited partners in the Operating Partnership were as follows:
 Year Ended December 31,
 202520242023
Parent Company’s weighted average interest in the Operating Partnership97.9%98.3%98.6%
Limited partners’ weighted average interests in the Operating Partnership 2.1%1.7%1.4%
As of December 31, 2025, the Parent Company’s interest and the limited partners’ redeemable noncontrolling ownership interests in the Operating Partnership were 97.7% and 2.3%, respectively. As of December 31, 2024, the Parent Company’s interest and the limited partners’ redeemable noncontrolling ownership interests in the Operating Partnership were 98.1% and 1.9%, respectively.
Concurrent with the Parent Company’s IPO and related formation transactions, certain individuals received Limited Partner Units of the Operating Partnership in exchange for their interests in certain properties. The limited partners have the right to redeem Limited Partner Units for cash or, at the Parent Company’s election, common shares of the Parent Company in an amount equal to the market value of an equivalent number of common shares of the Parent Company at the time of redemption. Such common shares must be registered, which is not fully in the Parent Company’s control. Therefore, the limited partners’ interest is not reflected within permanent equity. The Parent Company also has the right to redeem the Limited Partner Units directly from the limited partner in exchange for either cash in the amount specified above or a number of its common shares equal to the number of Limited Partner Units being redeemed.
There were 4,849,588 and 4,192,597 Limited Partner Units outstanding as of December 31, 2025 and 2024, respectively. The increase in Limited Partner Units outstanding from December 31, 2024 is due to non-cash compensation awards granted to our executive officers in the form of Limited Partner Units.
The redeemable noncontrolling interests in the Operating Partnership for the years ended December 31, 2025, 2024 and 2023 were as follows (in thousands):
Year Ended December 31,
202520242023
Redeemable noncontrolling interests balance as of January 1,$98,074 $73,287 $53,967 
Net income allocable to redeemable noncontrolling interests6,554 65 629 
Distributions declared to redeemable noncontrolling interests(7,355)(3,970)(3,159)
Other, net including adjustments to redemption value18,972 28,692 21,850 
Total limited partners’ interests in the Operating Partnership as of December 31,
$116,245 $98,074 $73,287 
Effects of Accounting Pronouncements
In November 2024, the FASB issued Accounting Standards Update (“ASU”) 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. This guidance requires public entities to disclose, in a tabular format, the amounts of certain natural expenses included within relevant expense captions presented on the face of the income statement and provide additional disclosures about selling expenses. The new disclosure requirements are effective for annual reporting periods beginning after December 15, 2026 and interim periods within annual reporting periods beginning after December 15, 2027, with early adoption permitted, and may be applied either prospectively or retrospectively. The Company is currently evaluating the impact of this guidance on its consolidated financial statements and related disclosures.
Any other recently issued accounting standards or pronouncements have been excluded, as they are either not relevant to the Company or they are not expected to have a material impact on the Company’s consolidated financial statements.
v3.25.4
ACQUISITIONS
 12 Months Ended
Dec. 31, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
ACQUISITIONS ACQUISITIONS
Asset Acquisitions
The Company closed on the following wholly owned and unconsolidated asset acquisitions during the years ended December 31, 2025, 2024 and 2023 (dollars in thousands):
DateProperty NameOwnership InterestMSAProperty TypeRetail
Square Footage		Acquisition
Price
2025
January 15, 2025Village Commons100%MiamiMulti-tenant retail170,976 $68,400 
April 28, 2025
Legacy West(1)
52%Dallas/Ft. WorthMulti-tenant retail, office & multifamily342,011 408,200 
512,987 $476,600 
2024
August 30, 2024Parkside West Cobb100%AtlantaMulti-tenant retail141,627 $40,125 
2023
September 22, 2023Prestonwood Place100%Dallas/Ft. WorthMulti-tenant retail155,975 $81,000 
(1)Legacy West also contains 443,553 square feet of office space and 782 multifamily units.
The above acquisitions were funded using a combination of available cash on hand, proceeds from dispositions, and borrowings on the Company’s unsecured revolving line of credit. The fair values of the real estate and other assets acquired were primarily determined using the income approach, which required us to make assumptions about market leasing rates, tenant-related costs, discount rates, and disposal rates. The estimates of fair value primarily relied upon Level 2 and Level 3 inputs, as previously defined.
In March 2025, the Company entered into a joint venture (the “Legacy West Joint Venture”), and on April 28, 2025, the joint venture acquired Legacy West for a gross purchase price of $785.0 million, including the assumption of $304.0 million of debt with an interest rate of 3.80%. The Company owns 52% of the equity in the Legacy West Joint Venture, which is being accounted for under the equity method of accounting. The Company’s share of the purchase price is $408.2 million, and the acquisition was initially funded with borrowings of $255.0 million on the Company’s unsecured revolving line of credit. See Note 5 to the accompanying consolidated financial statements for details of the Legacy West Joint Venture.
The following table summarizes the fair value of assets acquired and liabilities assumed for the wholly owned asset acquisitions completed during the years ended December 31, 2025, 2024 and 2023 (in thousands):
Year Ended December 31,
202520242023
Assets:
Investment properties, net$62,154 $38,080 $75,506 
Tenant and other receivables, net— 18 — 
Lease-related intangible assets, net(1)
7,829 4,607 6,971 
Total acquired assets69,983 42,705 82,477 
Liabilities:
Accounts payable and accrued expenses— 664 2,823 
Deferred revenue and other liabilities1,517 2,496 1,556 
Total assumed liabilities1,517 3,160 4,379 
Fair value of net assets acquired$68,466 $39,545 $78,098 
(1)The weighted average remaining life of leases at the acquired properties is approximately 6.1 years, 6.1 years, and 6.2 years for asset acquisitions completed during the years ended December 31, 2025, 2024 and 2023, respectively.
The range of the most significant Level 3 assumptions used in determining the value of the real estate and related assets acquired through wholly owned asset acquisitions are as follows:
202520242023
Net rental rate per square foot – Retail Anchors
$15.50
$18.75 to $19.00
N/A
Net rental rate per square foot – Small Shops
$10.00 to $45.00
$20.00 to $45.00
$30.00 to $65.00
Discount rate
7.50%
8.50%
8.50%
The results of operations for each of the properties acquired through asset acquisitions during the years ended December 31, 2025, 2024 and 2023 have been included in operations since their respective dates of acquisition.
v3.25.4
DISPOSITIONS AND IMPAIRMENT CHARGES
 12 Months Ended
Dec. 31, 2025
Discontinued Operations and Disposal Groups [Abstract]  
DISPOSITIONS AND IMPAIRMENT CHARGES DISPOSITIONS AND IMPAIRMENT CHARGES
The Company closed on the following dispositions of operating properties during the years ended December 31, 2025, 2024 and 2023 (dollars in thousands):
DateProperty NameMSAProperty TypeSquare
Footage		Sales PriceGain (Loss)
2025
April 4, 2025Stoney Creek CommonsIndianapolisMulti-tenant retail84,094 $9,500 $4,802 
June 25, 2025Fullerton MetrocenterLos AngelesMulti-tenant retail241,027 118,500 20,294 
June 27, 2025
Denton Crossing(1)
Dallas/Ft. WorthMulti-tenant retail343,345 81,593 35,626 
June 27, 2025
Parkway Towne Crossing(1)
Dallas/Ft. WorthMulti-tenant retail180,736 57,653 18,133 
June 27, 2025
The Landing at Tradition(1)
Port St. LucieMulti-tenant retail397,199 93,754 23,639 
July 21, 2025
Humblewood Shopping Center(2)
HoustonMulti-tenant retail85,682 18,250 5,890 
October 10, 2025DePauw University Bookstore and CaféIndianapolisSingle-user retail11,974 600 413 
November 20, 2025
Paradise Valley Marketplace(2)
PhoenixMulti-tenant retail80,951 45,000 9,269 
December 8, 2025Belle Isle StationOklahoma CityMulti-tenant retail196,158 45,000 11,727 
December 8, 2025
Central Texas Marketplace(2)
WacoMulti-tenant retail429,653 81,500 40,216 
December 8, 2025
International Speedway Square(2)
Daytona BeachMulti-tenant retail240,251 32,900 15,399 
December 8, 2025
Pavilion at King’s Grant(2)
CharlotteMulti-tenant retail303,212 64,450 27,790 
December 8, 2025
Peoria Crossing(2)
PhoenixMulti-tenant retail238,004 46,500 16,391 
December 8, 2025
Portofino Shopping Center(2)
HoustonMulti-tenant retail342,863 101,200 48,977 
December 8, 2025
Shops at Park Place(2)
Dallas/Ft. WorthMulti-tenant retail137,605 30,750 8,456 
December 8, 2025
Watauga Pavilion(2)
Dallas/Ft. WorthMulti-tenant retail205,643 26,700 1,843 
3,518,397 $853,850 $288,865 
2024
May 31, 2024Ashland & RooseveltChicagoMulti-tenant retail104,176 $30,600 $(1,234)
2023
May 8, 2023Kingwood CommonsHoustonMulti-tenant retail158,172 $27,350 $4,736 
June 8, 2023Pan Am Plaza & GarageIndianapolisLand & garage— 52,025 23,638 
September 11, 2023Reisterstown Road PlazaBaltimoreMulti-tenant retail & office376,683 48,250 (5,773)
October 24, 2023EastsideDallas/Ft. WorthMulti-tenant retail & office43,640 14,425 — 
578,495 $142,050 $22,601 
(1)The Company has retained a 52% noncontrolling interest in this property.
(2)As of December 31, 2025, disposition proceeds related to this property are temporarily restricted related to a potential 1031 Exchange.
During the three months ended December 31, 2025, the Company sold a parcel and the related building to a tenant at Northpointe Plaza in the Spokane MSA for a sales price of $4.0 million and recorded a net gain of $2.6 million on the sale.
During the three months ended September 30, 2025, the Company sold approximately one acre of land at Hamilton Crossing Centre, a redevelopment property in the Indianapolis MSA, for a sales price of $0.8 million and recorded a net loss of $0.1 million on the sale. In addition, the Company sold a land parcel at Lakewood Towne Center in the Seattle MSA for a sales price of $13.7 million and recorded a net gain of $6.1 million, which is recorded within “Net gains from outlot sales” in the accompanying consolidated statements of operations and comprehensive income (loss).
During the three months ended June 30, 2025, the Company contributed three previously wholly owned properties, Denton Crossing, Parkway Towne Crossing, and The Landing at Tradition, valued at $233.0 million in the aggregate to a newly formed joint venture (the “Seed Asset Joint Venture”) (see Note 5 to the accompanying consolidated financial statements for further details), and received $112.1 million in gross proceeds for the 48% interest in the joint venture acquired by the joint venture partner.
The Company calculated the gain on sale from the Seed Asset Joint Venture in accordance with ASC 606, Revenue from Contracts with Customers, and ASC 610-20, Gains and Losses from the Derecognition of Nonfinancial Assets, which requires full gain recognition upon deconsolidation of a nonfinancial asset. The gain on sale was calculated as the fair value of each of the three properties (based upon the sales price for the 48% interest acquired by the joint venture partner) less the aggregate carrying value. The Company’s retained 52% equity method investment was recorded at fair value as of the transaction date, which equaled $120.9 million.
During the year ended December 31, 2024, the Company received net proceeds of $6.4 million and recognized a gain of $2.5 million in connection with the sale of the first phase of a land parcel and the rights to develop 24 residential units at the One Loudoun Expansion. In addition, during the year ended December 31, 2024, the Company received proceeds of $0.6 million and recognized a gain of $0.6 million as a result of the receipt of an escrow related to the disposition of Reisterstown Road Plaza that previously closed on September 11, 2023.
Investment Properties Held for Sale
As of December 31, 2025, the Company had entered into a contract to sell Coram Plaza, a 138,385 square foot multi-tenant retail property in the New York MSA. This property qualified for held-for-sale accounting treatment upon meeting all applicable GAAP criteria during the quarter ended December 31, 2025, at which time depreciation and amortization ceased. In addition, the assets and liabilities associated with this property are separately classified as held for sale in the accompanying consolidated balance sheets as of December 31, 2025.
In addition, City Center, a 362,278 square foot multi-tenant retail property in the New York MSA, remains held for sale as of December 31, 2025. This property qualified for held-for-sale accounting treatment upon meeting all applicable GAAP criteria as of June 30, 2024, at which time depreciation and amortization ceased, and continues to meet the GAAP criteria for held-for-sale accounting treatment as of December 31, 2025. In addition, the assets and liabilities associated with this property remain separately classified as held for sale in the accompanying consolidated balance sheets as of December 31, 2025 and 2024.
The following table presents the assets and liabilities associated with Coram Plaza and City Center, the investment properties classified as held for sale as of December 31, 2025. In addition, City Center was classified as held for sale as of December 31, 2024 (in thousands):
December 31, 2025December 31, 2024
Assets:
Investment properties, net$64,899 $68,991 
Tenant and other receivables2,676 1,760 
Restricted cash and escrow deposits25 225 
Deferred costs, net3,088 2,634 
Prepaid and other assets417 181 
Assets associated with investment properties held for sale$71,105 $73,791 
Liabilities:
Accounts payable and accrued expenses$811 $544 
Deferred revenue and other liabilities3,503 3,465 
Liabilities associated with investment properties held for sale$4,314 $4,009 
There were no discontinued operations for the years ended December 31, 2025, 2024 and 2023 as none of the dispositions or planned dispositions represented a strategic shift that has had, or will have, a material effect on our operations or financial results.
Valuation of Investment Properties
As of December 31, 2025, in connection with the preparation and review of the fourth quarter 2025 financial statements and in conjunction with classifying Coram Plaza as held for sale, we evaluated Coram Plaza for impairment and recorded a $12.5 million impairment charge based upon the terms and conditions of an executed contract. As of December 31, 2025, the carrying value of Coram Plaza was $24.9 million and its estimated fair value was $12.5 million, less estimated selling costs of $0.1 million; therefore, we recorded a $12.5 million impairment charge on Coram Plaza during the three months ended December 31, 2025.
As of September 30, 2025, in connection with the preparation and review of the third quarter 2025 financial statements, we evaluated the Carillon medical office building, which is included in our office portfolio, and the retail portion of Carillon for impairment and recorded impairment charges totaling $22.3 million based upon the terms and conditions of purchase offers received. A decrease in market price along with a shortening of the expected future hold period are considered impairment indicators; therefore, we assessed the recoverability of the carrying value of long-lived assets of Carillon using the held and used approach, noting the carrying value was not recoverable. As of September 30, 2025, the carrying value of the Carillon medical office building was $35.7 million and its estimated fair value was $24.0 million; therefore, we recorded an $11.7 million impairment charge on the Carillon medical office building during the three months ended September 30, 2025. As of September 30, 2025, the carrying value of the retail portion of Carillon was $36.1 million and its estimated fair value was $25.5 million; therefore, we recorded a $10.6 million impairment charge on the retail portion of Carillon during the three months ended September 30, 2025.
As of September 30, 2025, in connection with the preparation and review of the third quarter 2025 financial statements and in conjunction with continuing to classify City Center as held for sale, we evaluated City Center for impairment and recorded a $17.0 million impairment charge based upon the terms and conditions of purchase offers received. We assessed the recoverability of City Center by comparing the carrying value of long-lived assets of $71.5 million as of September 30, 2025 to its estimated fair value of $55.0 million, less estimated selling costs of $0.5 million; therefore, we recorded a $17.0 million impairment charge on City Center during the three months ended September 30, 2025.
During the year ended December 31, 2024, in connection with the preparation and review of the second quarter 2024 financial statements and in conjunction with classifying City Center as held for sale as of June 30, 2024, we recorded a $66.2 million impairment charge on City Center due to changes in the facts and circumstances underlying the Company’s
expected future hold period of the property. We determined the impairment amount by comparing the carrying value of long-lived assets of $135.1 million as of June 30, 2024 to its estimated fair value of $69.6 million, which was determined using the income approach, less estimated selling costs of $0.7 million. The income approach involves discounting the estimated income stream and reversion (presumed sale) value of a property over an estimated hold period to a present value at a risk-adjusted rate. We used capitalization rates as a significant assumption in the valuation model, which are considered to be Level 3 inputs within the fair value hierarchy. We applied capitalization rates ranging from 6.0% to 15.0% to property income streams based upon the risk profile of the respective tenants and market rent of the leasable space. Based on this analysis, we recorded a $66.2 million impairment charge on City Center during the year ended December 31, 2024.
During the year ended December 31, 2023, in connection with the preparation and review of the third quarter 2023 financial statements, we recorded a $0.5 million impairment charge in connection with the sale of Eastside, a 43,640 square foot multi-tenant retail property in the Dallas/Ft. Worth MSA, as a result of a change in the expected hold period. We recorded the asset at the lower of cost or fair value less estimated costs to sell, which was approximately $14.1 million. The estimated fair value of Eastside was based upon the expected sales price from an executed sales contract and determined to be a Level 3 input within the fair value hierarchy. Eastside was sold on October 24, 2023 for a gross sales price of $14.4 million.
v3.25.4
INVESTMENTS IN UNCONSOLIDATED JOINT VENTURES
 12 Months Ended
Dec. 31, 2025
Equity Method Investments and Joint Ventures [Abstract]  
INVESTMENTS IN UNCONSOLIDATED JOINT VENTURES INVESTMENTS IN UNCONSOLIDATED JOINT VENTURES
The following table summarizes the Company’s investments in unconsolidated joint ventures as of December 31, 2025 and 2024 (dollars in thousands):
Date of InvestmentOwnership InterestInvestment at
Joint VentureDecember 31, 2025December 31, 2024
Embassy Suites at Eddy Street Commons(1)
December 201735%$8,797 $9,514 
Nuveen Portfolio Joint Venture(2)
June 201820%5,552 5,951 
Glendale Multifamily Joint Venture(3)
May 202011.5%409 536 
The Corner – IN Joint Venture(4)
September 202150%— 1,010 
Legacy West Joint VentureApril 202552%230,093 — 
Seed Asset Joint VentureJune 202552%117,056 — 
Other investments2,500 2,500 
$364,407 $19,511 
(1)The Company formed a joint venture with an unrelated third party to develop and own an Embassy Suites hotel next to Eddy Street Commons, our operating retail property at the University of Notre Dame. The Company contributed $1.4 million in cash to the joint venture in return for a 35% ownership interest. In 2017, the joint venture entered into a $33.8 million construction loan, which was repaid during the year ended December 31, 2025, of which the Company contributed $10.2 million, representing our 35% share of the debt repaid.
(2)The Company formed a joint venture with Nuveen Real Estate, formerly known as TH Real Estate, and contributed three properties (Livingston Shopping Center, Plaza Volente, and Tamiami Crossing) to the joint venture, valued at $99.8 million in the aggregate, and, after considering third-party debt obtained by the joint venture upon formation, the Company contributed $10.0 million for a 20% noncontrolling ownership interest in the joint venture. The Company is the operating member of the joint venture and earns fees for providing property management and leasing services.
(3)The Company formed a joint venture with an unrelated third party for the planned development of a multifamily project adjacent to Glendale Town Center, our operating retail property in the Indianapolis MSA. The Company contributed land valued at $1.6 million to the joint venture and retained an 11.5% ownership interest in the joint venture. The Company’s partner is the operating member of the joint venture.
(4)The Company formed a joint venture with an unrelated third party for the planned redevelopment of The Corner in the Indianapolis MSA into a mixed-use, multifamily, and retail project. The Company contributed land valued at $4.0 million to the joint venture and retained a 50% ownership interest in the joint venture. During the three months ended March 31, 2025, we completed major development construction activities at The Corner – IN and reclassified the property from active development into our operating portfolio in March 2025.
On January 31, 2024, the joint venture that owned Glendale Center Apartments sold the 267-unit property to a third party, resulting in a gain on sale of $20.2 million. The Company recognized its share of the gain from the sale of unconsolidated property of $2.3 million during the year ended December 31, 2024. In addition, the Company received a $1.6 million
distribution upon the disposition of the property during the year ended December 31, 2024. The Company maintains an investment in the joint venture, which is in the process of winding up its activities and distributing its remaining net assets.
In March 2025, the Company entered into a joint venture with a leading global investment firm, and on April 28, 2025, the joint venture acquired Legacy West in the Dallas/Fort Worth MSA. See Note 3 to the accompanying consolidated financial statements for details on the acquisition. The Company owns 52% of the equity in the Legacy West Joint Venture. The Company is the operating member of the joint venture, and an affiliate of the Company is the property manager responsible for the day-to-day management of Legacy West. The Company provides leasing, construction, and property management services to the Legacy West Joint Venture, for which it earns fees.
In June 2025, the Company entered into a second joint venture with the global investment firm and contributed three previously wholly owned properties valued at $233.0 million in the aggregate for a 52% noncontrolling interest in the Seed Asset Joint Venture. See Note 4 to the accompanying consolidated financial statements for details on the disposition. The Company is the operating member of the joint venture, and an affiliate of the Company is the property manager responsible for the day-to-day management of the three properties. The Company provides leasing, construction, and property management services to the Seed Asset Joint Venture, for which it earns fees.
The Company and our joint venture partners both have substantive participating rights over major decisions that impact the economics and operations of the joint ventures. The Company has the ability to exercise significant influence but does not have financial or operating control over these investments, and as a result, the Company accounts for these investments pursuant to the equity method of accounting. Under the equity method, the net equity investment of the Company is reflected in the accompanying consolidated balance sheets, and the Company’s share of net income or loss from each unconsolidated joint venture is included in the accompanying consolidated statements of operations and comprehensive income (loss).
v3.25.4
SHARE-BASED COMPENSATION
 12 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
SHARE-BASED COMPENSATION SHARE-BASED COMPENSATION
Overview
The Company’s 2013 Equity Incentive Plan was amended and restated as of May 11, 2022 (the “Equity Plan”) to, among other things, provide for the issuance of up to an additional 3,000,000 common share equivalents of the Company. The Equity Plan authorizes the issuance of share options, share appreciation rights, restricted shares and units, long-term incentive plan units (“LTIP Units”), “appreciation only” LTIP Units (“AO LTIP Units”), performance awards, and other share-based awards to the Company’s employees and trustees. As of December 31, 2025, there were 3,632,531 common share equivalents available for grant under the Equity Plan. The Company accounts for its share-based compensation in accordance with the fair value recognition provisions provided in ASC 718, Stock Compensation.
During the years ended December 31, 2025, 2024 and 2023, the Company recognized $10.8 million, $10.7 million, and $10.1 million of share-based compensation expense, net of amounts capitalized, respectively, which is included within “General, administrative and other” expenses in the accompanying consolidated statements of operations and comprehensive income (loss). During the years ended December 31, 2025, 2024 and 2023, the Company capitalized $1.1 million, $1.1 million, and $1.4 million of share-based compensation for development activities, respectively. The Company recognizes forfeitures as they occur.
Share Options
Pursuant to the Equity Plan, the Company may periodically grant options to purchase common shares at an exercise price equal to the grant date fair value of the Company’s common shares. The Company would issue new common shares upon the exercise of options.
There was no option activity during the years ended December 31, 2025 and 2024 as all outstanding options were exercised during 2022. In addition, no options were granted during the years ended December 31, 2025, 2024 and 2023.
Restricted Shares
The Equity Plan authorizes the grant of restricted common shares, which are considered outstanding shares from the date of grant and typically vest over a period ranging from three to five years. The Company pays dividends on restricted shares, and such dividends are included within “Accumulated deficit” in the accompanying consolidated balance sheets.
The following table summarizes the activity for the restricted shares that were granted to the Company’s employees and Board of Trustees for the year ended December 31, 2025:
 Number of
Restricted Shares		Weighted Average
Grant Date Fair
Value per Share
Restricted shares outstanding as of January 1, 2025385,236 $21.37 
Shares granted242,980 22.97 
Shares forfeited(19,128)22.24 
Shares vested(219,580)20.26 
Restricted shares outstanding as of December 31, 2025389,508 $22.32 
The following table summarizes the restricted share grants and vestings during the years ended December 31, 2025, 2024 and 2023 (dollars in thousands, except share and per share data):
Number of
Restricted Shares Granted		Weighted Average
Grant Date Fair
Value per Share		Fair Value of
Restricted Shares Vested
2025242,980 $22.97 $3,324 
2024256,134 $21.20 $3,736 
2023229,551 $21.45 $3,936 
As of December 31, 2025, there was $5.0 million of total unrecognized compensation expense related to restricted shares, which is expected to be recognized over a weighted average period of one year. We expect to incur approximately $3.1 million of this expense in 2026, $1.6 million in 2027, and the remainder in 2028.
LTIP Units
Time-based LTIP Unit awards were granted on a discretionary basis to the Company’s named executive officers during the years ended December 31, 2025, 2024 and 2023, based on a review of the prior year’s performance.
The following table summarizes the activity for the LTIP Units that were granted to the Company’s named executive officers for the year ended December 31, 2025:
 Number of
LTIP Units		Weighted Average
Grant Date Fair
Value per Unit
LTIP Units outstanding as of January 1, 2025410,709 $16.43 
LTIP Units granted198,039 18.81 
LTIP Units vested(226,779)15.86 
LTIP Units outstanding as of December 31, 2025381,969 $18.00 
The following table summarizes the LTIP Unit grants and vestings during the years ended December 31, 2025, 2024 and 2023 (dollars in thousands, except unit and per unit data):
Number of
LTIP Units Granted		Weighted Average
Grant Date Fair
Value per Unit		Fair Value of
LTIP Units Vested
2025198,039 $18.81 $5,197 
2024194,136 $16.99 $4,270 
2023163,515 $17.45 $3,740 
As of December 31, 2025, there was $4.1 million of total unrecognized compensation expense related to LTIP Units, which is expected to be recognized over a weighted average period of 0.9 years. We expect to incur approximately $2.5 million of this expense in 2026, $1.4 million in 2027, and the remainder in 2028.
AO LTIP Units
During the years ended December 31, 2024 and 2023, the Company’s executive officers exercised 485,593 and 551,817 AO LTIP Units, respectively, which were previously granted in connection with the Company’s annual review of executive compensation. No AO LTIP Units were granted or exercised during the year ended December 31, 2025. AO LTIP Units are designed to have economics similar to stock options and allow the recipient, subject to vesting requirements, to realize value above a threshold level as of the grant date of the award (the “Participation Threshold”). The value of vested AO LTIP Units is realized through conversion into a number of vested LTIP Units in the Operating Partnership determined on the basis of how much the value of a common share of the Company has increased over the Participation Threshold.
The AO LTIP Units became exercisable and convertible into vested LTIP Units of the Operating Partnership after they became vested AO LTIP Units. The awards of AO LTIP Units were subject to both time-based and stock price performance-based vesting requirements. Subject to the terms of the award agreements, the AO LTIP Units vested and became fully exercisable as of the date that both of the following requirements had been met: (i) the grantee remains in continuous service from the grant date through the third anniversary of the grant date; and (ii) at any time during the five-year period following the grant date for awards granted in 2019 and at any time during the period beginning in the second year and ending at the end of the fifth year following the grant date for awards granted in 2020 and 2021, the reported closing price per common share of the Company appreciates at least 20% for awards granted in 2019 and at least 15% for awards granted in 2020 and 2021 over the applicable Participation Threshold per AO LTIP Unit for a minimum of 20 consecutive trading days.
The AO LTIP Units were valued using a Monte Carlo simulation, and the resulting compensation expense was amortized over a period of three to five years. During the years ended December 31, 2025, 2024 and 2023, the Company recognized compensation expense for the AO LTIP Units of $0.1 million, $0.8 million, and $1.7 million, respectively.
Special Long-Term Equity Award
In January 2022, the Compensation Committee of the Company’s Board of Trustees granted a total of 363,883 LTIP Units to the Company’s named executive officers as a special long-term equity award related to the October 2021 merger with RPAI, which were subject to both performance and service conditions. The LTIP Units granted were subject to an approximate three-year performance and service period, from October 23, 2021 through December 31, 2024, with the following performance components: (i) cumulative annualized net operating income for executed new leases from October 1, 2021 to December 31, 2024, which was weighted at 60%; (ii) post-merger cash general and administrative expense synergies achieved as of the end of the performance period, which was weighted at 20%; and (iii) same property net operating income margin improvement over the performance period, which was weighted at 20%. Overall performance was further subject to an absolute total shareholder return modifier that could increase (or decrease) the total number of LTIP Units that were eligible to vest by up to 25% (not to exceed the maximum number of LTIP Units). In February 2025, a total of 363,883 LTIP Units were granted to the Company’s named executive officers related to the special long-term equity award. Distributions accrued during the performance period and were paid only on LTIP Units that vested at the conclusion of the performance period, which totaled $1.0 million and were settled in cash at such time.
v3.25.4
DEFERRED COSTS AND INTANGIBLES, NET
 12 Months Ended
Dec. 31, 2025
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
DEFERRED COSTS AND INTANGIBLES, NET DEFERRED COSTS AND INTANGIBLES, NET
Deferred costs consist primarily of acquired lease intangible assets, broker fees, and capitalized internal commissions incurred in connection with lease originations. Deferred leasing costs, lease intangibles, and similar costs are amortized on a straight-line basis over the terms of the related leases. As of December 31, 2025 and 2024, deferred costs consisted of the following (in thousands):
December 31, 2025December 31, 2024
Acquired lease intangible assets$260,108 $357,674 
Deferred leasing costs and other91,550 89,762 
 351,658 447,436 
Less: accumulated amortization(167,017)(206,589)
$184,641 $240,847 
Less: deferred costs associated with investment properties held for sale(3,088)(2,634)
Deferred costs, net$181,553 $238,213 
The estimated net amounts of amortization of acquired lease intangible assets for properties owned as of December 31, 2025 for each of the next five years and thereafter are as follows (in thousands):
Amortization of
Above-Market Leases		Amortization of
Acquired Lease Intangible Assets		Total
2026$4,201 $27,023 $31,224 
20272,965 18,230 21,195 
20282,006 14,269 16,275 
2029992 10,154 11,146 
2030740 7,566 8,306 
Thereafter738 18,273 19,011 
Total$11,642 $95,515 $107,157 
The amortization of deferred leasing costs, lease intangibles and other is included within “Depreciation and amortization” in the accompanying consolidated statements of operations and comprehensive income (loss). The amortization of above-market lease intangibles is included as a reduction to “Rental income” in the accompanying consolidated statements of operations and comprehensive income (loss). The amounts of such amortization included in the accompanying consolidated statements of operations and comprehensive income (loss) are as follows (in thousands):
Year Ended December 31,
202520242023
Amortization of deferred leasing costs, lease intangibles and other$60,740 $77,224 $107,542 
Amortization of above-market lease intangibles$7,861 $9,479 $12,007 
v3.25.4
DEFERRED REVENUE, INTANGIBLES, NET AND OTHER LIABILITIES
 12 Months Ended
Dec. 31, 2025
Other Liabilities Disclosure [Abstract]  
DEFERRED REVENUE, INTANGIBLES, NET AND OTHER LIABILITIES DEFERRED REVENUE, INTANGIBLES, NET AND OTHER LIABILITIES
Deferred revenue and other liabilities consist of (i) the unamortized fair value of below-market lease liabilities recorded in connection with purchase accounting, (ii) retainage payables for development and redevelopment projects, (iii) tenant rent payments received in advance of the month in which they are due, and (iv) lease liabilities. The amortization of below-market lease liabilities is recognized as revenue over the remaining life of the leases (including option periods for leases with below-market renewal options) through 2085. Tenant rent payments received in advance are recognized as revenue in the period to which they apply, which is typically the month following their receipt.
As of December 31, 2025 and 2024, deferred revenue, intangibles, net and other liabilities consisted of the following (in thousands):
December 31, 2025December 31, 2024
Unamortized in-place lease liabilities$110,038 $142,035 
Retainage payables and other18,479 8,317 
Tenant rents received in advance31,456 32,176 
Lease liabilities65,343 67,037 
$225,316 $249,565 
Less: deferred revenue associated with investment properties held for sale(3,503)(3,465)
Deferred revenue and other liabilities$221,813 $246,100 
The amortization of below-market lease intangibles is included as a component of “Rental income” in the accompanying consolidated statements of operations and comprehensive income (loss) and totaled $19.8 million, $19.6 million, and $24.0 million for the years ended December 31, 2025, 2024 and 2023, respectively.
The estimated net amounts of amortization of in-place lease liabilities and the resulting increase in minimum rent for properties owned as of December 31, 2025 for each of the next five years and thereafter are as follows (in thousands):
2026$10,859 
20278,560 
20287,981 
20296,827 
20306,174 
Thereafter69,637 
Total$110,038 
v3.25.4
MORTGAGE AND OTHER INDEBTEDNESS
 12 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
MORTGAGE AND OTHER INDEBTEDNESS MORTGAGE AND OTHER INDEBTEDNESS
The following table summarizes the Company’s indebtedness as of December 31, 2025 and 2024 (in thousands):
December 31, 2025December 31, 2024
Mortgages payable$142,937 $148,185 
Senior unsecured notes2,250,000 2,380,000 
Unsecured term loans550,000 700,000 
Unsecured revolving line of credit85,000 — 
3,027,937 3,228,185 
Unamortized discounts and premiums, net18,394 22,191 
Unamortized debt issuance costs, net(20,853)(23,446)
Mortgage and other indebtedness, net$3,025,478 $3,226,930 
Consolidated indebtedness, including weighted average interest rates and weighted average maturities as of December 31, 2025, considering the impact of interest rate swaps, is summarized below (dollars in thousands):
Amount
Outstanding		RatioWeighted Average
Interest Rate		Weighted
Average Years to Maturity
Fixed rate debt(1)
$2,530,737 84%4.28%4.5
Variable rate debt497,200 16%4.73%2.5
Debt discounts, premiums and issuance costs, net(2,459)N/AN/AN/A
Mortgage and other indebtedness, net$3,025,478 100%4.36%4.2
(1)Fixed rate debt includes the portion of variable rate debt that has been hedged by interest rate swaps. As of December 31, 2025, $150.0 million in variable rate debt is hedged to a fixed rate through July 17, 2026.
Mortgages Payable
The following table summarizes the Company’s mortgages payable (dollars in thousands):
December 31, 2025December 31, 2024
BalanceWeighted Average
Interest Rate		Weighted Average Years
to Maturity		BalanceWeighted Average
Interest Rate		Weighted Average Years
to Maturity
Fixed rate mortgages payable(1)
$130,737 5.11%6.2$133,585 5.10%7.1
Variable rate mortgage payable(2)
12,200 5.84%0.614,600 6.48%1.6
Total mortgages payable$142,937 $148,185 
(1)The fixed rate mortgages had interest rates ranging from 3.75% to 5.73% as of December 31, 2025 and 2024.
(2)The interest rate on the variable rate mortgage is based on the Secured Overnight Financing Rate (“SOFR”) plus 215 basis points. The one-month SOFR rate was 3.69% and 4.33% as of December 31, 2025 and 2024, respectively.
Mortgages payable, which are secured by certain real estate and, in some cases, by guarantees from the Operating Partnership, are generally due in monthly installments of principal and interest and mature over various terms through 2033. During the year ended December 31, 2025, we made scheduled principal payments of $5.2 million related to amortizing loans.
Unsecured Notes
The following table summarizes the Company’s senior unsecured notes and exchangeable senior notes (dollars in thousands):
December 31, 2025December 31, 2024
Maturity DateBalanceInterest RateBalanceInterest Rate
Senior notes – 4.00% due 2025
March 15, 2025$— —%$350,000 4.00%
Senior notes – 4.47% due 2025(1)
September 10, 2025— —%80,000 7.70%
Senior notes – 4.08% due 2026
September 30, 2026100,000 4.08%100,000 4.08%
Senior notes – 4.00% due 2026
October 1, 2026300,000 4.00%300,000 4.00%
Senior exchangeable notes – 0.75% due 2027
April 1, 2027175,000 0.75%175,000 0.75%
Senior notes – 4.57% due 2027(2)
September 10, 202775,000 4.57%75,000 7.80%
Senior notes – 4.24% due 2028
December 28, 2028100,000 4.24%100,000 4.24%
Senior notes – 4.82% due 2029
June 28, 2029100,000 4.82%100,000 4.82%
Senior notes – 4.75% due 2030
September 15, 2030400,000 4.75%400,000 4.75%
Senior notes – 4.95% due 2031
December 15, 2031350,000 4.95%350,000 4.95%
Senior notes – 5.20% due 2032
August 15, 2032300,000 5.20%— —%
Senior notes – 5.50% due 2034(3)
March 1, 2034350,000 4.60%350,000 4.60%
Total senior unsecured notes$2,250,000 $2,380,000 
(1)As of December 31, 2024, $80,000 of 4.47% senior unsecured notes due 2025 had been swapped to a variable rate of three-month SOFR plus 3.65% through September 10, 2025.
(2)As of December 31, 2024, $75,000 of 4.57% senior unsecured notes due 2027 had been swapped to a variable rate of three-month SOFR plus 3.75% through September 10, 2025.
(3)The coupon rate is 5.50%; however, as a result of hedging activities, the Company’s interest rate is 4.60%.
Private Placement Senior Unsecured Notes
In October 2021, in connection with the merger with Retail Properties of America, Inc. (“RPAI”), the Operating Partnership entered into a number of assumption agreements pursuant to which the Operating Partnership assumed all of RPAI’s obligations under RPAI’s existing note purchase agreements related to an aggregate of $450.0 million in principal of
privately placed senior unsecured notes. During the year ended December 31, 2024, the Company repaid the $149.6 million principal balance of the 4.58% senior unsecured notes that matured on June 30, 2024. In addition, in August 2015, the Operating Partnership entered into a note purchase agreement in connection with the issuance of $250.0 million of senior unsecured notes at a blended interest rate of 4.41% and an average maturity of 9.8 years (collectively, the “Private Placement Notes”). During the year ended December 31, 2025, the Company repaid the $80.0 million principal balance of the 4.47% senior unsecured notes that matured on September 10, 2025 (the “Notes Due September 2025”). During the year ended December 31, 2023, the Company repaid the $95.0 million principal balance of the 4.23% senior unsecured notes that matured on September 10, 2023.
Each series of Private Placement Notes requires semi-annual interest payments each year until maturity. The Operating Partnership may prepay at any time all or, from time to time, any part of any series of the Private Placement Notes in an amount not less than 5% of the aggregate principal amount of such series of the Private Placement Notes then outstanding in the case of a partial prepayment, at 100% of the principal amount so prepaid plus a make-whole amount (as defined in the applicable note purchase agreement). The make-whole amount is equal to the excess, if any, of the discounted value of the remaining scheduled payments with respect to the Private Placement Notes being prepaid over the amount of such Private Placement Notes.
Each note purchase agreement contains customary financial maintenance covenants, including a maximum total leverage ratio, secured and unsecured leverage ratios, and a minimum interest coverage ratio. Each note purchase agreement also contains restrictive covenants that restrict the ability of the Operating Partnership and its subsidiaries to, among other things, enter into transactions with affiliates, merge or consolidate, transfer assets, or incur liens. Further, each note purchase agreement contains customary events of default, including in relation to non-payment, breach of covenants, defaults under certain other indebtedness, judgment defaults, and bankruptcy events. In the case of an event of default, the holders of the Private Placement Notes may, among other remedies, accelerate the payment of all obligations.
Publicly Placed Senior Unsecured Notes
In June 2025, the Company completed a public offering of $300.0 million in aggregate principal amount of 5.20% senior unsecured notes due 2032 (the “Notes Due 2032”). The Notes Due 2032 were priced at 99.513% of the principal amount to yield 5.281% to maturity and will mature on August 15, 2032, unless earlier redeemed. The proceeds were used to repay the $150.0 million unsecured term loan that was scheduled to mature on July 17, 2026 (the “$150M Term Loan”), borrowings on the Company’s revolving line of credit, and the Notes Due September 2025.
In August 2024, the Operating Partnership completed a public offering of $350.0 million in aggregate principal amount of 4.95% senior unsecured notes due 2031 (the “Notes Due 2031”). The Notes Due 2031 were priced at 99.328% of the principal amount to yield 5.062% to maturity and will mature on December 15, 2031, unless earlier redeemed. The proceeds were used to repay the $350.0 million principal balance of the 4.00% senior unsecured notes that matured on March 15, 2025 and for general corporate purposes.
In January 2024, the Operating Partnership completed a public offering of $350.0 million in aggregate principal amount of 5.50% senior unsecured notes due 2034 (the “Notes Due 2034”). The Notes Due 2034 were priced at 98.670% of the principal amount to yield 5.673% to maturity and will mature on March 1, 2034, unless earlier redeemed. The proceeds were used to repay the $149.6 million principal balance of the 4.58% senior unsecured notes that matured on June 30, 2024, the $120.0 million unsecured term loan that matured on July 17, 2024 (the “$120M Term Loan”), and for general corporate purposes.
In October 2021, in connection with the merger with RPAI, the Operating Partnership (as successor by merger to RPAI) assumed all of RPAI’s outstanding $750.0 million aggregate principal of publicly placed senior unsecured notes. In addition, the Operating Partnership completed a $300.0 million public offering of 4.00% senior unsecured notes in September 2016 (collectively, the “Public Placement Notes”). The Public Placement Notes require semi-annual interest payments each year until maturity.
The Public Placement Notes are the direct, senior unsecured obligations of the Operating Partnership and rank equally in right of payment with all of its existing and future unsecured and unsubordinated indebtedness. The Operating Partnership may redeem the Public Placement Notes at its option and in its sole discretion, at any time or from time to time, prior to three months prior to the respective maturity date (such date, the “Par Call Date”), at a redemption price equal to 100% of the principal amount of the applicable Public Placement Notes being redeemed, plus accrued and unpaid interest and a “make-
whole” premium calculated in accordance with the indenture. Redemptions on or after the respective Par Call Date are not subject to the addition of a “make-whole” premium.
Exchangeable Senior Notes
In March 2021, the Operating Partnership issued $175.0 million aggregate principal amount of 0.75% exchangeable senior notes that mature in April 2027 (the “Exchangeable Notes”). The Exchangeable Notes are governed by an indenture between the Operating Partnership, the Company, and U.S. Bank National Association, as trustee. The Exchangeable Notes were sold in the U.S. only to accredited investors pursuant to an exemption from the Securities Act of 1933, as amended (the “Securities Act”), and subsequently resold to qualified institutional investors pursuant to Rule 144A under the Securities Act. The net proceeds from the offering of the Exchangeable Notes were approximately $169.7 million after deducting the underwriting fees and other expenses paid by the Company. The Exchangeable Notes bear interest at a rate of 0.75% per annum, payable semi-annually in arrears, and will mature on April 1, 2027. During each of the years ended December 31, 2025, 2024 and 2023, we recognized approximately $1.3 million of interest expense related to the Exchangeable Notes.
Prior to January 1, 2027, the Exchangeable Notes are exchangeable into cash up to the principal amount of the Exchangeable Notes exchanged and, if applicable, cash or common shares or a combination thereof only upon certain circumstances and during certain periods. On or after January 1, 2027, the Exchangeable Notes will be exchangeable into cash up to the principal amount of the Exchangeable Notes exchanged and, if applicable, cash or common shares or a combination thereof at the option of the holders at any time prior to the close of business on the second scheduled trading day preceding the maturity date. The initial exchange rate was 39.6628 common shares per $1,000 principal amount of Exchangeable Notes, which was equivalent to an initial exchange price of approximately $25.21 per common share and an exchange premium of approximately 25% based upon the closing price of $20.17 per common share on March 17, 2021. The exchange rate is subject to adjustment upon the occurrence of certain events but will not be adjusted for any accrued and unpaid interest. As of December 31, 2025, the exchange rate of the Exchangeable Notes is 41.8881 common shares per $1,000 of the principal amount due to adjustments related to dividends paid.
The Operating Partnership may redeem the Exchangeable Notes at its option, in whole or in part, on any business day on or after April 5, 2025, if the last reported sale price of the common shares has been at least 130% of the exchange price then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period ending on, and including, the trading day immediately preceding the date on which the Operating Partnership provides notice of redemption at a redemption price equal to 100% of the principal amount of the Exchangeable Notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date.
In connection with the Exchangeable Notes, the Operating Partnership entered into privately negotiated capped call transactions (the “Capped Call Transactions”) with certain of the initial purchasers of the Exchangeable Notes or their respective affiliates. The Capped Call Transactions initially cover, subject to anti-dilution adjustments substantially similar to those applicable to the Exchangeable Notes, the number of common shares underlying the Exchangeable Notes. The Capped Call Transactions are generally expected to reduce the potential dilution to holders of common shares upon exchange of the Exchangeable Notes. The cap price of the Capped Call Transactions was initially approximately $30.26, which represented a premium of approximately 50% over the last reported sale price of our common shares on March 17, 2021, and is subject to anti-dilution adjustments under the terms of the Capped Call Transactions. We incurred $9.8 million of costs related to the Capped Call Transactions, which are included within “Additional paid-in capital” in the accompanying consolidated balance sheets.
Unsecured Term Loans and Revolving Line of Credit
The following table summarizes the Company’s term loans and revolving line of credit (dollars in thousands):
December 31, 2025December 31, 2024
Maturity DateBalanceInterest RateBalanceInterest Rate
Unsecured term loan due 2026 – fixed rate(1)
July 17, 2026$— —%$150,000 2.73%
Unsecured term loan due 2027 – fixed rate(2)
October 24, 2027250,000 4.72%250,000 3.94%
Unsecured term loan due 2029 – fixed rate(3)
July 29, 2029300,000 3.54%300,000 3.72%
Total unsecured term loans$550,000 $700,000 
Unsecured credit facility revolving line of credit –
variable rate(4)
October 3, 2028$85,000 4.92%$— 5.64%
(1)As of December 31, 2024, $150,000 of SOFR-based variable rate debt had been swapped to a fixed rate of 1.68% plus a credit spread based on a ratings grid ranging from 0.75% to 1.60% through July 17, 2026. The applicable credit spread was 1.05% as of December 31, 2024. The $150M Term Loan was repaid in June 2025 and the related interest rate swaps were assigned to the $300M Term Loan effective August 1, 2025.
(2)As of December 31, 2024, $250,000 of SOFR-based variable rate debt had been swapped to a fixed rate of 2.99% plus a credit spread based on a ratings grid ranging from 0.75% to 1.60% through October 24, 2025. The applicable credit spread was 0.95% as of December 31, 2024. The maturity date of the term loan may be extended by one one-year period at the Operating Partnership’s election, subject to certain conditions.
(3)As of December 31, 2025, $150,000 of the $300,000 SOFR-based variable rate debt has been swapped to a fixed rate of 1.68% plus a credit spread based on a ratings grid ranging from 0.75% to 1.60% through July 17, 2026. The applicable credit spread was 0.85% as of December 31, 2025. The interest rate shown is the weighted average rate as of December 31, 2025. As of December 31, 2024, $300,000 of SOFR-based variable rate debt had been swapped to a fixed rate of 2.47% plus a credit spread based on a ratings grid ranging from 1.15% to 2.20% through August 1, 2025. The applicable credit spread was 1.25% as of December 31, 2024.
(4)The revolving line of credit can be extended for either one one-year period or up to two six-month periods at the Company’s election, subject to (i) customary representations and warranties, including, but not limited to, the absence of an event of default as defined in the unsecured credit agreement and (ii) payment of an extension fee equal to 0.075% of the revolving line of credit capacity.
Unsecured Revolving Credit Facility
In October 2024, the Operating Partnership, as borrower, and the Company entered into the Third Amendment (the “Third Amendment”) to the Sixth Amended and Restated Credit Agreement, dated as of July 8, 2021 (as amended, the “Credit Agreement”), with a syndicate of financial institutions to provide for an unsecured revolving credit facility aggregating $1.1 billion (the “Revolving Facility”) and a seven-year $300.0 million unsecured term loan that matures in July 2029 (the “$300M Term Loan”). Under the Credit Agreement, the Operating Partnership has the option, subject to certain customary conditions, to increase the Revolving Facility and/or incur additional term loans up to a maximum aggregate amount not to exceed $2.0 billion. The Revolving Facility matures on October 3, 2028, which maturity date may be extended for either one one-year period or up to two six-month periods at the Operating Partnership’s option, subject to certain conditions. The Revolving Facility had an outstanding balance of $85.0 million as of December 31, 2025. No amounts were outstanding as of December 31, 2024.
Borrowings under the Revolving Facility bear interest at a rate per annum equal to SOFR plus a margin based on the Operating Partnership’s leverage ratio or credit rating, respectively, plus a facility fee based on the Operating Partnership’s leverage ratio or credit rating, respectively. In July 2025, the Operating Partnership, as borrower, and the Company entered into the Fourth Amendment (the “Fourth Amendment”) to the Credit Agreement to, among other things, eliminate an additional 0.10% SOFR spread adjustment. The Revolving Facility is currently priced on the leverage-based pricing grid. In accordance with the Credit Agreement, the credit spread set forth in the leverage grid resets quarterly based on the Company’s leverage, as calculated at the previous quarter end. The Company may irrevocably elect to convert to the ratings-based pricing grid at any time. As of December 31, 2025, making such an election would have resulted in a lower interest rate; however, the Company has not made the election to convert to the ratings-based pricing grid. As specified in the Credit Amendment, in the event that the Company so elects to convert to the ratings-based pricing grid, the Company has the ability to obtain more favorable pricing in certain circumstances when its total leverage ratio is (x) less than or equal to 35.0% or (y) greater than 35.0% but less than or equal to 37.5% with respect to not more than one fiscal quarter following a period in which the condition described in clause (x)
was satisfied (the “Leverage Toggle”). The Credit Amendment also includes an adjustment to the sustainability-linked pricing provisions that allows the otherwise applicable interest rate margin to be reduced by up to two basis points if certain greenhouse gas emission reduction targets are achieved. The greenhouse gas emission reduction targets have not been achieved as of December 31, 2025.
The following table summarizes the key terms of the Revolving Facility as of December 31, 2025 (dollars in thousands):
Leverage-Based PricingInvestment-Grade Pricing
Credit AgreementMaturity DateExtension OptionsExtension FeeCredit SpreadFacility FeeCredit SpreadFacility Fee
$1,100,000 unsecured revolving line of credit
October 3, 2028
1 one-year or 2 six-month
0.075%
1.05%–1.50%
0.15%–0.30%
0.725%–1.40%
0.125%–0.30%
The Operating Partnership’s ability to borrow under the Credit Agreement is subject to ongoing compliance by the Operating Partnership and its subsidiaries with various restrictive covenants, including with respect to liens, transactions with affiliates, dividends, mergers, and asset sales. In addition, the Credit Agreement requires that the Operating Partnership satisfy certain financial covenants, including (i) a maximum leverage ratio; (ii) a minimum fixed charge coverage ratio; (iii) a maximum secured indebtedness ratio; (iv) a maximum unsecured leverage ratio; and (v) a minimum unencumbered interest coverage ratio. As of December 31, 2025, we were in compliance with all such covenants.
The Credit Agreement includes customary representations and warranties, which must continue to be true and correct in all material respects as a condition for future draws under the Revolving Facility. The Credit Agreement also contains customary events of default, the occurrence of which, following any applicable grace period, would permit the lenders to, among other things, declare the principal, accrued interest, and other obligations under the Credit Agreement to be immediately due and payable.
As of December 31, 2025, we had outstanding letters of credit totaling $4.2 million with no amounts advanced against these instruments.
Unsecured Term Loans
In July 2022, in conjunction with the second amendment to the Credit Agreement, the Operating Partnership obtained a $300M Term Loan that bears interest at a rate of SOFR plus a credit spread based on a ratings-based pricing grid. The Fourth Amendment to the Credit Agreement described above reduced the ratings-based pricing credit spread from a range of 1.15% to 2.20% to a range of 0.75% to 1.60%. The Fourth Amendment also eliminated an additional 0.10% SOFR spread adjustment. Proceeds from the $300M Term Loan were used to repay outstanding indebtedness and for general corporate purposes. The Operating Partnership is permitted to prepay the $300M Term Loan in whole or in part at any time, without premium or penalty. The loan agreement for the $300M Term Loan includes the same Leverage Toggle for determining pricing and sustainability-linked pricing provisions as described above for the Credit Agreement. The greenhouse gas emission reduction targets have not been achieved as of December 31, 2025.
In October 2021, in connection with the merger with RPAI, the Operating Partnership (as successor by merger to RPAI) assumed RPAI’s $120M Term Loan and $150M Term Loan, which were originally priced on a leverage-based pricing grid with the credit spread set forth in the leverage grid resetting quarterly based upon the Company’s leverage, as calculated at the previous quarter end. The Operating Partnership had the option to irrevocably elect to convert to a ratings-based pricing grid at any time. In August 2022, the Operating Partnership made the election to convert to the ratings-based pricing grid. During the year ended December 31, 2024, the Operating Partnership repaid the $120M Term Loan that matured on July 17, 2024.
On October 31, 2024, the Operating Partnership entered into a fifth amendment to the loan agreement related to the $150M Term Loan that implemented certain changes to the representations and warranties, covenants, and events of default consistent with the Third Amendment. The loan agreement related to the $150M Term Loan included a sustainability metric based on targeted greenhouse gas emission reductions, which would result in a reduction of the otherwise applicable interest rate margin by one basis point upon achievement of targets set forth therein. During the year ended December 31, 2025, the Operating Partnership repaid the $150M Term Loan that was scheduled to mature on July 17, 2026.
Under the loan agreement related to the $150M Term Loan, the Operating Partnership had the option to increase the term loan to $250.0 million upon the Operating Partnership’s request, subject to certain conditions including obtaining commitments from any one or more lenders, whether or not currently party to the term loan agreement, to provide such increased amounts. The Operating Partnership was permitted to prepay the $150M Term Loan in whole or in part, at any time, without being subject to a prepayment fee.
In October 2018, the Operating Partnership entered into a term loan agreement with a group of financial institutions providing for an unsecured term loan facility of up to $250.0 million (the “$250M Term Loan”). In October 2024, the Operating Partnership entered into the Second Amendment (the “Second Amendment”) to the term loan agreement that extended the maturity date of the $250M Term Loan to October 24, 2027, with the option to extend such maturity date by one one-year period at the Company’s election, subject to the payment of an extension fee and certain other customary conditions. In conjunction with the Second Amendment, the $250M Term Loan is priced on a ratings-based pricing grid with the interest rate equal to (x) a margin ranging from 0.75% to 1.60% or (y) a base rate plus a margin ranging from 0.00% to 0.60% and includes the same Leverage Toggle for determining pricing and sustainability-linked pricing provisions as described above for the Credit Agreement. In conjunction with the Second Amendment to the term loan agreement, the Company recorded a $0.2 million loss on extinguishment of debt related to the write-off of unamortized debt issuance costs. In July 2025, the Operating Partnership entered into the third amendment to the term loan agreement related to the $250M Term Loan that eliminated an additional 0.10% SOFR spread adjustment. The Operating Partnership has the option to increase the $250M Term Loan to $300.0 million, subject to certain conditions, including obtaining commitments from any one or more lenders, whether or not currently party to the term loan agreement, to provide such increased amounts. The Operating Partnership is permitted to prepay the $250M Term Loan in whole or in part, without premium or penalty.
The unsecured term loan agreements contain representations, financial and other affirmative and negative covenants, and events of default that are substantially similar to those contained in the Credit Agreement. The unsecured term loan agreements all rank pari passu with the Operating Partnership’s Revolving Facility and other unsecured indebtedness of the Operating Partnership.
The following table summarizes the key terms of the unsecured term loans as of December 31, 2025 (dollars in thousands):
Unsecured Term LoansMaturity DateInvestment-Grade Pricing
Credit Spread
$250,000 unsecured term loan due 2027
October 24, 2027(1)
0.75% – 1.60%
$300,000 unsecured term loan due 2029
July 29, 2029
0.75% – 1.60%
(1)The maturity date may be extended by one one-year period at the Operating Partnership’s option, subject to certain conditions.
Debt Issuance Costs
Debt issuance costs are amortized over the terms of the respective loans. The following amounts of amortization of debt issuance costs are included as a component of “Interest expense” in the accompanying consolidated statements of operations and comprehensive income (loss) (in thousands):
Year Ended December 31,
202520242023
Amortization of debt issuance costs$6,868 $4,650 $3,609 
Debt Discounts and Premiums
Debt discounts and premiums, including the related value of interest rate swaps that were assumed in the October 2021 merger with RPAI, are amortized over the terms of the respective loans. The following amounts of amortization are included as a component of “Interest expense” in the accompanying consolidated statements of operations and comprehensive income (loss) (in thousands):
Year Ended December 31,
202520242023
Amortization of debt discounts, premiums and hedge instruments$7,221 $13,592 $19,503 
In addition, the estimated amounts of the reduction to interest expense as of December 31, 2025 for each of the next five years and thereafter related to the amortization of debt discounts, premiums and assumed hedge instruments, assuming these instruments are held to maturity, are as follows (in thousands):
2026$5,786 
20274,709 
20284,699 
20293,773 
20302,031 
Thereafter(2,084)
Total unamortized debt discounts, premiums and hedge instruments$18,914 
The following table reconciles total unamortized debt discounts, premiums and hedge instruments as of December 31, 2025 to the balance of unamortized discounts and premiums, net (in thousands):
Unamortized discounts and premiums on mortgages payable and senior unsecured notes$18,394 
Unamortized hedge instruments520 
Total unamortized debt discounts, premiums and hedge instruments18,914 
Unamortized hedge instruments (included in accumulated other comprehensive income)(520)
Unamortized discounts and premiums, net$18,394 
Debt Maturities
The following table summarizes the scheduled maturities and principal amortization of the Company’s consolidated indebtedness as of December 31, 2025 (in thousands):
Secured Debt
Scheduled
Principal Payments		Term
Maturities		Unsecured DebtTotal
2026$4,581 $10,600 $400,000 $415,181 
20272,662 19,906 500,000 522,568 
20282,943 — 185,000 187,943 
20293,474 — 400,000 403,474 
20302,936 100 400,000 403,036 
Thereafter3,186 92,549 1,000,000 1,095,735 
 $19,782 $123,155 $2,885,000 $3,027,937 
Debt discounts, premiums and issuance costs, net (2,459)
Mortgage and other indebtedness, net  $3,025,478 
Other Debt Activity
During the years ended December 31, 2025, 2024 and 2023, we capitalized interest totaling $2.8 million, $3.9 million, and $3.7 million, respectively.
Fair Value of Fixed and Variable Rate Debt
As of December 31, 2025, the estimated fair value of fixed rate debt was $2.4 billion compared to the book value of $2.4 billion. The fair value was estimated using Level 2 and Level 3 inputs with cash flows discounted at current borrowing rates for similar instruments, which ranged from 4.50% to 6.49%. As of December 31, 2025, the estimated fair value of variable rate debt was $647.7 million compared to the book value of $647.2 million. The fair value was estimated using Level 2 and Level 3 inputs with cash flows discounted at current borrowing rates for similar instruments, which ranged from 4.54% to 5.84%.
v3.25.4
DERIVATIVE INSTRUMENTS, HEDGING ACTIVITIES AND OTHER COMPREHENSIVE INCOME
 12 Months Ended
Dec. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
DERIVATIVE INSTRUMENTS, HEDGING ACTIVITIES AND OTHER COMPREHENSIVE INCOME DERIVATIVE INSTRUMENTS, HEDGING ACTIVITIES AND OTHER COMPREHENSIVE INCOME
In order to manage potential future variable interest rate risk, we enter into interest rate derivative agreements from time to time. We do not use interest rate derivative agreements for trading or speculative purposes. The agreements with each of our derivative counterparties provide that in the event of default on any of our indebtedness, we could also be declared in default on our derivative obligations.
The following table summarizes the terms and fair values of the Company’s derivative financial instruments that were designated and qualified as part of a hedging relationship as of December 31, 2025 and 2024 (dollars in thousands):
Fair Value Assets (Liabilities)(1)
Type of HedgeNumber of InstrumentsAggregate NotionalReference RateInterest RateEffective DateMaturity DateDecember 31, 2025December 31, 2024
Cash FlowFour$— SOFR2.99%12/1/202210/24/2025$— $2,307 
Cash FlowTwo— SOFR2.66%8/1/20228/1/2025— 884 
Cash FlowTwo— SOFR2.37%11/22/20238/1/2025— 2,101 
Cash Flow(2)
Three150,000 SOFR1.68%8/15/20227/17/20261,503 5,316 
$150,000 $1,503 $10,608 
Fair Value(3)
Two$— SOFR
SOFR + 3.70%
4/23/20219/10/2025$— $(3,937)
(1)Derivatives in an asset position are included within “Prepaid and other assets” and derivatives in a liability position are included within “Accounts payable and accrued expenses” in the accompanying consolidated balance sheets.
(2)These interest rate swaps were assigned to the Company’s $300M Term Loan effective August 1, 2025.
(3)The derivative agreements swapped a blended fixed rate of 4.52% for a blended floating rate of three-month SOFR plus 3.70% through September 10, 2025.
In June 2025, we entered into three intraday interest rate lock agreements with notional amounts totaling $150.0 million that fixed the interest rate on a portion of the Notes Due 2032, which were issued in June 2025, at 4.21%. We paid $0.2 million upon termination, which is included as a component of “Accumulated other comprehensive income” in the accompanying consolidated balance sheets and is being reclassified as an increase to interest expense over the term of the debt.
In August 2024, we entered into two intraday interest rate lock agreements with notional amounts totaling $350.0 million that fixed the interest rate on a portion of the Notes Due 2031, which were issued in August 2024, at 3.75%. We paid $0.1 million upon termination, which is included as a component of “Accumulated other comprehensive income” in the accompanying consolidated balance sheets and is being reclassified as an increase to interest expense over the term of the debt.
In December 2023, we entered into three forward-starting interest rate swap agreements with notional amounts totaling $150.0 million that swap a floating rate of compound SOFR for a fixed rate of 3.44% with an effective date of June 28, 2024 and a maturity date of June 28, 2034. These interest rate swaps fixed the interest rate on a portion of the Notes Due 2034, which were issued in January 2024, and were subsequently terminated upon issuance of the Notes Due 2034. We received $0.7 million
upon termination, which is included as a component of “Accumulated other comprehensive income” in the accompanying consolidated balance sheets and is being reclassified as a reduction to interest expense over the term of the debt.
These interest rate derivative agreements are the only assets or liabilities that we record at fair value on a recurring basis. The valuation of these assets and liabilities is determined using widely accepted techniques, including discounted cash flow analysis. These techniques consider the contractual terms of the derivatives (including the period to maturity) and use observable market-based inputs, such as interest rate curves and implied volatilities. We also incorporate credit valuation adjustments into the fair value measurements to reflect nonperformance risk on both our part and that of the respective counterparties.
We have determined that the majority of the inputs used to value our derivatives fall within Level 2 of the fair value hierarchy, although the credit valuation adjustments associated with our derivatives use Level 3 inputs, such as estimates of current credit spreads to evaluate the likelihood of default by us and our counterparties. As of December 31, 2025 and 2024, we assessed the significance of the impact of the credit valuation adjustments on the overall valuation of our derivative positions and determined that the credit valuation adjustments were not significant to the overall valuation of our derivatives. As a result, we have determined that our derivative valuations are classified within Level 2 of the fair value hierarchy.
Amounts reported in accumulated other comprehensive income related to derivatives will be reclassified to earnings over time as the hedged items are recognized in earnings. Approximately $9.1 million, $17.4 million, and $17.4 million was reclassified as a reduction to interest expense during the years ended December 31, 2025, 2024 and 2023, respectively. As interest payments on our derivatives are made over the next 12 months, we estimate the decrease to interest expense to be approximately $5.1 million, assuming the current SOFR curve.
Unrealized gains and losses on our interest rate derivative agreements are the only components of the change in accumulated other comprehensive income.
v3.25.4
LEASE INFORMATION
 12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
LEASE INFORMATION LEASE INFORMATION
Rental Income
The Company receives rental income from the leasing of retail and office space. The lease agreements generally provide for certain increases in base rent and reimbursements for certain operating expenses, and they may require tenants to pay contingent rent to the extent their sales exceed a defined threshold. Certain tenants have the option in their lease agreement to extend their lease upon the expiration of the contractual term. Variable lease payments are based upon tenant sales information and are recognized once a tenant’s sales volume exceeds a defined threshold. Variable lease payments for the reimbursement of operating expenses are based upon the operating expense activity for the period.
Rental income related to the Company’s operating leases is comprised of the following for the years ended December 31, 2025, 2024 and 2023 (in thousands):
Year Ended December 31,
202520242023
Fixed contractual lease payments – operating leases$659,955 $653,537 $637,915 
Variable lease payments – operating leases160,000 156,200 151,853 
Bad debt reserve(7,838)(5,356)(3,459)
Straight-line rent adjustments11,341 12,742 13,186 
Straight-line rent reserve for uncollectibility(987)(653)(1,374)
Amortization of in-place lease liabilities, net8,300 10,078 12,025 
Rental income$830,771 $826,548 $810,146 
The weighted-average remaining term of the lease agreements is approximately 4.9 years. During the years ended December 31, 2025, 2024 and 2023, the Company earned overage rent totaling $6.0 million, $7.1 million, and $7.5 million, respectively.
As of December 31, 2025, the future minimum rentals to be received under non-cancelable operating leases, excluding variable lease payments and amounts deferred under lease concession agreements, for each of the next five years and thereafter are as follows (in thousands):
Lease Payments
2026$605,363 
2027561,582 
2028484,444 
2029393,729 
2030319,166 
Thereafter995,735 
Total$3,360,019 
Commitments under Ground Leases
As of December 31, 2025, we are obligated under 11 ground leases for approximately 98 acres of land. Most of these ground leases require fixed annual rent payments. The expiration dates of the remaining initial terms of these ground leases range from 2028 to 2092, with a weighted average remaining term of 32.8 years. Certain of these leases have five- to 10-year extension options ranging in total from 20 to 25 years.
Right-of-use assets are included within “Prepaid and other assets,” and lease liabilities are reflected within “Deferred revenue and other liabilities” in the accompanying consolidated balance sheets.
During the years ended December 31, 2025, 2024 and 2023, the Company incurred ground lease expense on these operating leases of $6.3 million, $6.3 million, and $6.2 million, respectively. The Company made payments of $5.3 million, $5.2 million, and $5.2 million during the years ended December 31, 2025, 2024 and 2023, respectively, which are included within operating cash flows.
As of December 31, 2025, the future minimum lease payments due under ground leases for each of the next five years and thereafter are as follows (in thousands):
Lease Obligations
2026$5,238 
20275,283 
20285,063 
20295,018 
20305,325 
Thereafter95,918 
$121,845 
Adjustment for discounting(56,502)
Lease liabilities as of December 31, 2025$65,343 
LEASE INFORMATION LEASE INFORMATION
Rental Income
The Company receives rental income from the leasing of retail and office space. The lease agreements generally provide for certain increases in base rent and reimbursements for certain operating expenses, and they may require tenants to pay contingent rent to the extent their sales exceed a defined threshold. Certain tenants have the option in their lease agreement to extend their lease upon the expiration of the contractual term. Variable lease payments are based upon tenant sales information and are recognized once a tenant’s sales volume exceeds a defined threshold. Variable lease payments for the reimbursement of operating expenses are based upon the operating expense activity for the period.
Rental income related to the Company’s operating leases is comprised of the following for the years ended December 31, 2025, 2024 and 2023 (in thousands):
Year Ended December 31,
202520242023
Fixed contractual lease payments – operating leases$659,955 $653,537 $637,915 
Variable lease payments – operating leases160,000 156,200 151,853 
Bad debt reserve(7,838)(5,356)(3,459)
Straight-line rent adjustments11,341 12,742 13,186 
Straight-line rent reserve for uncollectibility(987)(653)(1,374)
Amortization of in-place lease liabilities, net8,300 10,078 12,025 
Rental income$830,771 $826,548 $810,146 
The weighted-average remaining term of the lease agreements is approximately 4.9 years. During the years ended December 31, 2025, 2024 and 2023, the Company earned overage rent totaling $6.0 million, $7.1 million, and $7.5 million, respectively.
As of December 31, 2025, the future minimum rentals to be received under non-cancelable operating leases, excluding variable lease payments and amounts deferred under lease concession agreements, for each of the next five years and thereafter are as follows (in thousands):
Lease Payments
2026$605,363 
2027561,582 
2028484,444 
2029393,729 
2030319,166 
Thereafter995,735 
Total$3,360,019 
Commitments under Ground Leases
As of December 31, 2025, we are obligated under 11 ground leases for approximately 98 acres of land. Most of these ground leases require fixed annual rent payments. The expiration dates of the remaining initial terms of these ground leases range from 2028 to 2092, with a weighted average remaining term of 32.8 years. Certain of these leases have five- to 10-year extension options ranging in total from 20 to 25 years.
Right-of-use assets are included within “Prepaid and other assets,” and lease liabilities are reflected within “Deferred revenue and other liabilities” in the accompanying consolidated balance sheets.
During the years ended December 31, 2025, 2024 and 2023, the Company incurred ground lease expense on these operating leases of $6.3 million, $6.3 million, and $6.2 million, respectively. The Company made payments of $5.3 million, $5.2 million, and $5.2 million during the years ended December 31, 2025, 2024 and 2023, respectively, which are included within operating cash flows.
As of December 31, 2025, the future minimum lease payments due under ground leases for each of the next five years and thereafter are as follows (in thousands):
Lease Obligations
2026$5,238 
20275,283 
20285,063 
20295,018 
20305,325 
Thereafter95,918 
$121,845 
Adjustment for discounting(56,502)
Lease liabilities as of December 31, 2025$65,343 
v3.25.4
SEGMENT REPORTING
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
SEGMENT REPORTING SEGMENT REPORTING
An operating segment is a component of a public entity that engages in business activities from which it may earn revenues and incur expenses and has discrete financial information available that is regularly reviewed by the chief operating decision maker (the “CODM”).
The Company’s primary business is the ownership and operation of high-quality, open-air shopping centers and mixed-use assets that are primarily grocery-anchored and located in high-growth Sun Belt markets and select strategic gateway markets in the United States. We derive our revenue primarily from the collection of contractual rents and reimbursement payments from tenants under existing lease agreements at each of our properties. The Company’s CODM, which is its Chief Executive Officer, regularly reviews operating and financial information for each property on an individual basis; therefore, each property represents an individual operating segment. The CODM does not distinguish or group our operations on a geographical or any
other basis for purposes of measuring performance and allocating capital. Across our properties, the financial performance, revenue generating activities, and customer base is determined to be economically similar; therefore, all operating segments have been aggregated into one reportable segment.
The CODM measures and evaluates the financial performance of our portfolio of properties and decides how resources are allocated based on net operating income. The CODM uses net operating income to evaluate income generated from each property in deciding whether to reinvest profits for recurring capital expenditures or into other parts of the business, such as for acquisitions, developments, scheduled interest and principal payments on our indebtedness, or to pay dividends. Net operating income is also used to monitor budget versus actual results in assessing the performance of our properties. The CODM does not regularly review total assets for our single reportable segment as total assets are not used to assess performance or allocate resources.
The following table presents information on the Company’s reported segment revenue, net operating income, and significant segment expenses that are provided to the CODM and included within the Company’s single reportable operating segment measure of profit or loss:
Year Ended December 31,
202520242023
Revenue:
Minimum rent$655,575 $650,331 $642,255 
Tenant reimbursements177,015 174,510 163,877 
Bad debt reserve(7,838)(5,356)(3,459)
Other property-related revenue7,192 4,424 4,754 
Overage rent6,019 7,063 7,473 
Total revenue837,963 830,972 814,900 
Expenses:
Property operating – recoverable99,372 96,894 90,180 
Property operating – non-recoverable15,291 15,455 16,348 
Real estate taxes103,819 103,301 101,780 
Total expenses218,482 215,650 208,308 
Net operating income619,481 615,322 606,592 
Other (expense) income:
Net gains from outlot sales6,096 4,363 1,662 
Other general and administrative expenses(55,459)(52,558)(56,142)
Fee income4,240 4,663 4,366 
Impairment charges(51,849)(66,201)(477)
Depreciation and amortization(373,287)(393,335)(426,361)
Interest expense(132,577)(125,691)(105,349)
Equity in (loss) earnings of unconsolidated subsidiaries(11,650)(1,158)33 
Gain on sale of unconsolidated property, net— 2,325 — 
Income tax expense of taxable REIT subsidiaries(467)(139)(533)
Loss on extinguishment of debt— (180)— 
Other income, net9,038 17,869 1,991 
Gain (loss) on sales of operating properties, net291,962 (864)22,601 
Net income305,528 4,416 48,383 
Net income attributable to noncontrolling interests(6,865)(345)(885)
Net income attributable to common shareholders$298,663 $4,071 $47,498 
v3.25.4
SHAREHOLDERS’ EQUITY
 12 Months Ended
Dec. 31, 2025
Stockholders' Equity Note [Abstract]  
SHAREHOLDERS’ EQUITY SHAREHOLDERS’ EQUITY
Distributions 
On October 28, 2025, our Board of Trustees declared a cash distribution of $0.29 per common share and Common Unit for the fourth quarter of 2025. On December 29, 2025, our Board of Trustees also declared a special cash distribution of $0.145 per common share and Common Unit. These distributions were paid on January 16, 2026, to common shareholders and common unitholders of record as of January 9, 2026.
For the years ended December 31, 2025, 2024 and 2023, we declared cash distributions totaling $1.245, $1.03, and $0.97, respectively, per common share and Common Unit.
Share Repurchase Program
In February 2021, our Board of Trustees approved a share repurchase program under which the Company may repurchase, from time to time, up to an aggregate of $150.0 million of our common shares. In April 2022, our Board of Trustees authorized a $150.0 million increase to the size of the share repurchase program, authorizing share repurchases up to a maximum of $300.0 million of our common shares (the “Share Repurchase Program”). The Company intends to fund any future repurchases under the Share Repurchase Program with cash on hand or availability under the Revolving Facility, subject to any applicable restrictions. The timing of share repurchases and the number of common shares to be repurchased under the Share Repurchase Program will depend upon prevailing market conditions, regulatory requirements, and other factors. In November 2025, the Company extended the Share Repurchase Program for an additional year to February 28, 2027, if not terminated or extended prior to that date. During the year ended December 31, 2025, the Company repurchased 10.9 million common shares at an average price per share of $22.82 for a total of $247.7 million. As of December 31, 2025, $52.3 million remained available for repurchases of common shares under the Company’s Share Repurchase Program. The Company did not repurchase any shares during the years ended December 31, 2024 and 2023.
Subsequent to December 31, 2025, the Company repurchased 2.2 million common shares at an average price per share of $23.92 for a total of $52.3 million. Additionally, in February 2026, our Board of Trustees authorized a $300.0 million increase to the size of the Share Repurchase Program, authorizing share repurchases up to a maximum of $600.0 million of our common shares.
Dividend Reinvestment and Share Purchase Plan
We maintain a dividend reinvestment and share purchase plan that offers shareholders and new investors the option to invest all or a portion of their common share dividends in additional common shares. Participants in this plan are also able to make optional cash investments with certain restrictions.
v3.25.4
EARNINGS PER SHARE OR UNIT
 12 Months Ended
Dec. 31, 2025
Earnings Per Share [Abstract]  
EARNINGS PER SHARE OR UNIT EARNINGS PER SHARE OR UNIT
Basic earnings per share or unit is calculated based on the weighted average number of common shares or units outstanding during the period. Diluted earnings per share or unit is calculated based on the weighted average number of common shares or units outstanding during the period combined with the incremental weighted average common shares or units that would have been outstanding assuming the conversion of all potentially dilutive common shares or units into common shares or units as of the earliest date possible.
Potentially dilutive securities include (i) outstanding options to acquire common shares; (ii) Limited Partner Units, which may be exchanged for either cash or common shares at the Parent Company’s option and under certain circumstances; (iii) AO LTIP Units; (iv) deferred common share units, which may be credited to the personal accounts of members of the Board of Trustees in lieu of compensation paid in cash or the issuance of common shares to such trustees, and (v) common shares issuable upon the exchange of the Company’s Exchangeable Notes. The Company calculates the potential dilutive effect of the Exchangeable Notes under the if-converted method, which considers only the amounts settled in excess of the principal in diluted earnings per share as the principal must be paid in cash. Limited Partner Units have been omitted from the Parent Company’s denominator for the purpose of computing diluted earnings per share since the effect of including those amounts in the denominator would have no dilutive impact. Weighted average Limited Partner Units outstanding were 4.8 million, 3.8 million, and 3.2 million for the years ended December 31, 2025, 2024 and 2023, respectively.
The following table summarizes the calculation of basic and diluted earnings per share for the Parent Company for the years ended December 31, 2025, 2024 and 2023. We have omitted the calculation of basic and diluted earnings per unit since the dilutive securities for the Operating Partnership are the same as those for the Parent Company (dollars in thousands, except per share data):
Year Ended December 31,
202520242023
Numerator:
Net income attributable to common shareholders – basic and diluted$298,663 $4,071 $47,498 
Denominator:
Weighted average common shares outstanding – basic218,310,451 219,614,149 219,344,832 
Effect of dilutive securities:
AO LTIP Units38,404 43,331 325,603 
Deferred common share units80,618 70,016 57,848 
Exchangeable Notes— — — 
Weighted average common shares outstanding – diluted218,429,473 219,727,496 219,728,283 
Net income per common share – basic$1.37 $0.02 $0.22 
Net income per common share – diluted$1.37 $0.02 $0.22 
v3.25.4
COMMITMENTS AND CONTINGENCIES
 12 Months Ended
Dec. 31, 2025
Commitments and Contingencies Disclosure [Abstract]  
COMMITMENTS AND CONTINGENCIES COMMITMENTS AND CONTINGENCIES
Other Commitments and Contingencies
We are obligated under various completion guarantees with certain lenders and lease agreements with tenants to complete all or portions of a development project and tenant-specific space that are currently under construction. We believe we currently have sufficient financing in place to fund these projects and expect to do so primarily through free cash flow or borrowings on the Revolving Facility.
In 2017, we provided a repayment guaranty on a $33.8 million construction loan associated with the development of the Embassy Suites at the University of Notre Dame, consistent with our 35% ownership interest. Our portion of the repayment guaranty was limited to $5.9 million, and the guaranty’s term was through July 1, 2024, the maturity date of the construction loan. In July 2024, the joint venture repaid the construction loan, of which we contributed $10.2 million, representing our 35% share of the debt repaid.
In 2021, we provided repayment and completion guarantees on loans totaling $66.2 million associated with the development of The Corner mixed-use project in the Indianapolis MSA. As of December 31, 2025, the outstanding balance of the loans was $69.1 million, of which our share was $34.5 million.
As of December 31, 2025, we had outstanding letters of credit totaling $4.2 million with no amounts advanced against these instruments.
In July 2025, Eastgate Crossing, a 152,682 square foot multi-tenant retail property in the Durham-Chapel Hill MSA, experienced severe flooding as a result of Tropical Storm Chantal. We believe that we have adequate third-party insurance, subject to a $0.3 million deductible, including business interruption coverage, to address this matter, and at this time, we do not believe that the flood will have a significant adverse impact on our results of operations or financial condition on a consolidated basis.
Legal Proceedings
We are not subject to any material litigation, nor, to management’s knowledge, is any material litigation currently threatened against us. We are parties to routine litigation, claims, and administrative proceedings arising in the ordinary course of business. Management believes that such matters will not have a material adverse impact on our consolidated financial condition, results of operations, or cash flows taken as a whole.
v3.25.4
RELATED PARTIES AND RELATED PARTY TRANSACTIONS
 12 Months Ended
Dec. 31, 2025
Related Party Transactions [Abstract]  
RELATED PARTIES AND RELATED PARTY TRANSACTIONS RELATED PARTIES AND RELATED PARTY TRANSACTIONS
Subsidiaries of the Company provide certain management, construction management, and other services to a number of entities owned by several members of the Company’s management. During each of the years ended December 31, 2025, 2024 and 2023, we earned less than $0.1 million from entities owned by certain members of management.
We reimburse entities owned by certain members of the Company’s management for certain travel and related services. During the years ended December 31, 2025, 2024 and 2023, we paid $0.2 million, $0.2 million, and $0.3 million, respectively, to this related entity.
During the year ended December 31, 2023, a wholly owned subsidiary of the Company (“KRG Development”) assigned to Pan Am Development Partners, LLC (the “Assignee”) certain rights and obligations related to the development of a hotel on the Pan Am Plaza site in Indianapolis, IN, including certain future development rights and a right of first offer involving the project (collectively, the “Project Rights and Obligations”). The Assignee is a wholly owned subsidiary of Circle Block Investor, LLC, the parent company that owns the Conrad Indianapolis hotel, of which Mr. Alvin E. Kite, our Chairman Emeritus and the father of Mr. John A. Kite, is the majority owner, and Mr. John A. Kite, our Chief Executive Officer and Chairman of the Board, and Mr. Thomas K. McGowan, our President and Chief Operating Officer, are minority owners. In connection with the transaction, the Assignee assumed all Project Rights and Obligations from and after August 7, 2023 and paid KRG Development a $3.5 million assignment fee (the “Assignment Fee”) during the year ended December 31, 2024 upon the completion of certain development activities. In connection with the transactions, Mr. Kite and Mr. McGowan expressly acknowledged and agreed that they remain subject to their executive employment agreements with the Company, including, without limitation, the obligation of each executive to devote substantially all his business time and effort to the performance of his duties for the Company. Assignee will engage a team of full-time professionals to perform the Project Rights and Obligations. The transaction was approved by a special transaction committee of the independent trustees of the Company (the “Transaction Committee”) as well as the Company’s independent trustees. The Transaction Committee engaged a third-party financial advisor to assist in determining the net value of the Project Rights and Obligations and establishing the Assignment Fee.
v3.25.4
SUBSEQUENT EVENTS
 12 Months Ended
Dec. 31, 2025
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS SUBSEQUENT EVENTS
Subsequent to December 31, 2025, we:
•repurchased 2.2 million common shares at an average price per share of $23.92 for a total of $52.3 million; and
•closed on the sale of the second phase of a land parcel and the rights to develop 14 residential units at the One Loudoun Expansion in the Washington, D.C. MSA for a sales price of $3.7 million.
On February 14, 2026, our Board of Trustees authorized a $300.0 million increase to the size of our Share Repurchase Program, authorizing share repurchases up to a maximum of $600.0 million of our common shares.
v3.25.4
Schedule III - Consolidated Real Estate and Accumulated Depreciation
 12 Months Ended
Dec. 31, 2025
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]  
SEC Schedule III - Consolidated Real Estate and Accumulated Depreciation
 
Initial Cost(1)
Cost Capitalized
Subsequent to Acquisition/Development		Gross Carrying Amount
Close of Period		    
NameEncumbrancesLandBuilding &
Improvements		LandBuilding &
Improvements		LandBuilding &
Improvements		TotalAccumulated
Depreciation		Year Built /
Renovated		Year
Acquired
Operating Properties           
12th Street Plaza$— $2,624 $10,615 $— $3,999 $2,624 $14,614 $17,238 $4,601 1978/20032012
54th & College— 2,672 — — — 2,672 — 2,672 — 2008N/A
Arcadia Village— 8,487 11,629 — 577 8,487 12,206 20,693 3,453 19572021
Avondale Plaza— 6,723 10,040 — 84 6,723 10,124 16,847 2,421 20052021
Bayonne Crossing— 47,809 38,339 — 3,672 47,809 42,011 89,820 14,688 20112014
Bayport Commons— 7,005 20,362 — 4,899 7,005 25,261 32,266 12,356 2008N/A
Bridgewater Marketplace— 3,407 7,473 — 1,800 3,407 9,273 12,680 4,597 2008N/A
Burlington*— — 2,773 — 29 — 2,802 2,802 2,802 1992/20002000
Castleton Crossing— 9,761 24,162 — 1,566 9,761 25,728 35,489 9,135 19752013
Cedar Park Town Center— 9,032 25,600 — 397 9,032 25,997 35,029 4,437 20132021
Centennial Center— 58,960 71,351 — 10,668 58,960 82,019 140,979 48,012 20022014
Centennial Gateway— 5,305 48,398 — 1,537 5,305 49,935 55,240 22,522 20052014
Centre at Laurel— 6,122 34,213 — 1,095 6,122 35,308 41,430 8,311 20052021
Centre Point Commons*— 2,918 22,272 — 921 2,918 23,193 26,111 10,414 20072014
Chantilly Crossing— 12,309 17,458 — 1,415 12,309 18,873 31,182 4,584 20042021
Chapel Hill Shopping Center*— — 34,653 — 3,226 — 37,879 37,879 18,682 20012015
Circle East— 1,188 26,817 — 2,377 1,188 29,194 30,382 4,577 1998/20222021
Clearlake Shores Shopping Center— 3,845 6,493 — 958 3,845 7,451 11,296 1,868 20032021
Coal Creek Marketplace— 9,397 11,645 — 520 9,397 12,165 21,562 3,548 19912021
Cobblestone Plaza— 10,374 43,620 — 4,669 10,374 48,289 58,663 20,720 2011N/A
Colleyville Downs— 5,446 36,506 — 5,148 5,446 41,654 47,100 23,622 20142015
Colonial Square— 7,521 18,499 — 4,301 7,521 22,800 30,321 9,242 20102014
Colony Square— 20,300 17,353 — 2,222 20,300 19,575 39,875 6,030 19972021
Commons at Temecula— 18,966 43,691 — 665 18,966 44,356 63,322 13,309 19992021
Cool Creek Commons— 6,062 12,225 — 8,994 6,062 21,219 27,281 10,511 2005N/A
Cool Springs Market— 12,444 20,880 40 12,021 12,484 32,901 45,385 17,121 19952013
Coppell Town Center— 5,052 11,214 — 815 5,052 12,029 17,081 3,525 19992021
Cypress Mill Plaza— 6,320 9,926 — 542 6,320 10,468 16,788 2,693 20042021
Davis Towne Crossing— 995 8,939 — 196 995 9,135 10,130 2,314 20032021
Delray Marketplace12,200 18,750 84,233 1,284 12,078 20,034 96,311 116,345 38,936 2013N/A
Downtown Crown— 25,759 76,338 — 8,501 25,759 84,839 110,598 14,122 20142021
Draper Crossing— 9,054 27,063 — 2,580 9,054 29,643 38,697 14,792 20122014
  
Initial Cost(1)
Cost Capitalized
Subsequent to Acquisition/Development		Gross Carrying Amount
Close of Period		   
NameEncumbrancesLandBuilding &
Improvements		LandBuilding &
Improvements		LandBuilding &
Improvements		TotalAccumulated
Depreciation		Year Built /
Renovated		Year
Acquired
Operating Properties (continued)           
Draper Peaks$— $11,498 $46,639 $522 $6,952 $12,020 $53,591 $65,611 $21,419 20122014
East Stone Commons*— 3,766 21,252 — 536 3,766 21,788 25,554 5,262 20052021
Eastern Beltway— 23,221 45,500 — 9,107 23,221 54,607 77,828 22,569 1998/20062014
Eastgate Pavilion— 8,026 18,217 — 3,306 8,026 21,523 29,549 11,616 19952004
Eastwood Towne Center— 3,242 55,528 — 7,279 3,242 62,807 66,049 16,955 20022021
Eddy Street Commons*— 1,900 46,685 — 8,751 1,900 55,436 57,336 20,056 2009/2022N/A
Edwards Multiplex— 22,583 27,232 — 294 22,583 27,526 50,109 7,811 19972021
Estero Town Commons— 7,453 9,900 — 1,533 7,453 11,433 18,886 5,895 2006N/A
Fairgrounds Plaza— 12,690 15,249 — 113 12,690 15,362 28,052 3,974 20022021
Fishers Station— 5,041 13,001 — 312 5,041 13,313 18,354 6,069 2018N/A
Fordham Place— 41,993 100,111 — 1,685 41,993 101,796 143,789 18,773 1920/20092021
Fort Evans Plaza II— 14,110 38,655 — 8,066 14,110 46,721 60,831 9,074 20082021
Galvez Shopping Center— 494 4,946 — 282 494 5,228 5,722 1,319 20042021
Gardiner Manor— 29,521 19,446 — 10,110 29,521 29,556 59,077 7,167 20002021
Gateway Pavilions— 44,167 8,458 — 2,556 44,167 11,014 55,181 3,496 20032021
Gateway Plaza— 15,608 21,593 — 6,374 15,608 27,967 43,575 8,282 20002021
Gateway Station— 10,679 10,462 — 1,026 10,679 11,488 22,167 2,866 20032021
Gateway Village— 32,045 33,316 — 806 32,045 34,122 66,167 10,374 19962021
Geist Pavilion— 1,368 6,892 — 3,050 1,368 9,942 11,310 5,438 2006N/A
Gerry Centennial Plaza— 3,448 9,552 — 979 3,448 10,531 13,979 2,492 20062021
Glendale Town Center— 1,442 41,154 (187)26,472 1,255 67,626 68,881 39,676 1958/20211999
Grapevine Crossing— 7,021 11,900 — 1,170 7,021 13,070 20,091 3,828 20012021
Green's Corner— 4,716 13,623 — 198 4,716 13,821 18,537 3,989 19972021
Greyhound Commons— 2,629 6 — 1,907 2,629 1,913 4,542 39 2005N/A
Gurnee Town Center— 7,348 20,471 — 1,261 7,348 21,732 29,080 6,242 20002021
Henry Town Center— 9,353 49,123 — 3,719 9,353 52,842 62,195 14,826 20022021
Heritage Square— 11,373 16,099 — 609 11,373 16,708 28,081 4,939 19852021
Heritage Towne Crossing— 5,720 14,696 — 461 5,720 15,157 20,877 4,144 20022021
Holly Springs Towne Center— 22,324 92,404 — 9,115 22,324 101,519 123,843 36,678 2013N/A
Home Depot Center*— — 20,122 — 462 — 20,584 20,584 5,819 19962021
Huebner Oaks— 19,423 35,404 — 3,427 19,423 38,831 58,254 8,950 19962021
Hunter's Creek Promenade— 8,017 12,258 179 2,035 8,196 14,293 22,489 6,312 19942013
Initial Cost(1)
Cost Capitalized
Subsequent to Acquisition/Development		Gross Carrying Amount
Close of Period
NameEncumbrancesLandBuilding &
Improvements		LandBuilding &
Improvements		LandBuilding &
Improvements		TotalAccumulated
Depreciation		Year Built /
Renovated		Year
Acquired
Operating Properties (continued)
Indian River Square$— $4,000 $5,690 $1,100 $6,109 $5,100 $11,799 $16,899 $5,053 1997/20042005
Jefferson Commons— 23,356 19,473 — 4,507 23,356 23,980 47,336 6,702 20052021
John's Creek Village— 7,668 39,302 — 1,342 7,668 40,644 48,312 10,278 20042021
Killingly Commons— 21,999 29,649 — 2,562 21,999 32,211 54,210 11,702 20102014
King's Lake Square— 4,519 11,894 — 1,964 4,519 13,858 18,377 8,130 1986/20142003
La Plaza Del Norte— 18,113 32,442 — 1,234 18,113 33,676 51,789 9,853 19962021
Lake City Commons— 4,693 11,348 — 692 4,693 12,040 16,733 4,770 20082014
Lake Mary Plaza— 1,413 8,447 — 433 1,413 8,880 10,293 3,354 20092014
Lake Worth Towne Crossing— 6,228 28,499 — 1,527 6,228 30,026 36,254 7,143 20052021
Lakewood Towne Center— 27,219 29,553 — 6,275 27,219 35,828 63,047 9,930 20022021
Lincoln Park— 14,757 39,830 — 1,324 14,757 41,154 55,911 11,749 19972021
Lincoln Plaza— 6,239 38,239 — 6,674 6,239 44,913 51,152 12,931 20012021
Lithia Crossing— 3,065 6,749 — 10,906 3,065 17,655 20,720 4,453 1994/20032011
Lowe's Center— 19,894 — — 310 19,894 310 20,204 4 20052021
MacArthur Crossing— 11,190 31,192 — 2,045 11,190 33,237 44,427 7,302 19952021
Main Street Promenade— 2,630 59,620 — 2,552 2,630 62,172 64,802 9,520 20032021
Manchester Meadows— 10,788 29,617 — 1,413 10,788 31,030 41,818 10,416 19942021
Mansfield Towne Crossing— 2,966 14,094 — 1,296 2,966 15,390 18,356 3,825 20032021
Market Street Village— 9,764 16,360 — 5,621 9,764 21,981 31,745 12,500 1970/20042005
Merrifield Town Center— 5,186 41,059 — 2,135 5,186 43,194 48,380 8,813 20082021
Merrifield Town Center II— 19,614 23,042 — 159 19,614 23,201 42,815 4,897 1972/20072021
Miramar Square— 26,492 30,549 387 10,410 26,879 40,959 67,838 15,888 20082014
Mullins Crossing*— 10,582 38,619 — 7,569 10,582 46,188 56,770 20,296 20052014
Naperville Marketplace — 5,364 11,377 — 487 5,364 11,864 17,228 5,975 2008N/A
New Forest Crossing— 7,175 11,655 — 335 7,175 11,990 19,165 3,108 20032021
New Hyde Park Shopping Center— 10,792 9,450 — 850 10,792 10,300 21,092 1,891 1964/20112021
Newnan Crossing— 6,616 40,543 — 2,197 6,616 42,740 49,356 12,997 19992021
Newton Crossroads— 1,004 10,752 — 422 1,004 11,174 12,178 3,207 19972021
Nora Plaza3,068 3,790 19,508 5,002 39,357 8,792 58,865 67,657 10,627 20042019
North Benson Center— 16,632 9,703 — 2,791 16,632 12,494 29,126 3,218 19882021
Northcrest Shopping Center— 4,044 33,519 — 3,443 4,044 36,962 41,006 14,708 20082014
Northdale Promenade— 1,718 27,242 — 400 1,718 27,642 29,360 20,976 2017N/A
Initial Cost(1)
Cost Capitalized
Subsequent to Acquisition/Development		Gross Carrying Amount
Close of Period
NameEncumbrancesLandBuilding &
Improvements		LandBuilding &
Improvements		LandBuilding &
Improvements		TotalAccumulated
Depreciation		Year Built /
Renovated		Year
Acquired
Operating Properties (continued)
Northgate North$20,970 $20,063 $47,624 $— $3,119 $20,063 $50,743 $70,806 $14,467 19992021
Northpointe Plaza— 15,657 34,002 — 1,880 15,657 35,882 51,539 10,134 19912021
Oak Brook Promenade— 6,753 48,281 — 10,177 6,753 58,458 65,211 12,644 20062021
Oleander Place*— 847 5,226 — 507 847 5,733 6,580 3,345 20122011
One Loudoun Downtown95,095 74,400 233,760 — 16,457 74,400 250,217 324,617 42,694 2013/20222021
Oswego Commons— 5,746 8,036 — 7,544 5,746 15,580 21,326 3,872 20022021
Palms Plaza— 12,049 24,201 — 1,648 12,049 25,849 37,898 6,047 1988/20042022
Parkside Town Commons— 21,806 104,283 (60)13,034 21,746 117,317 139,063 46,304 2015N/A
Parkside West Cobb— 6,750 31,276 — 375 6,750 31,651 38,401 2,168 20162024
Pebble Marketplace— 7,504 34,237 — 1,202 7,504 35,439 42,943 4,743 19972022
Pelham Manor Shopping Plaza*— — 41,998 — 700 — 42,698 42,698 8,826 20082021
Perimeter Woods— 6,893 27,204 — 5,876 6,893 33,080 39,973 12,962 20082014
Pine Ridge Crossing— 5,640 16,258 — 6,643 5,640 22,901 28,541 12,083 19942006
Plaza at Cedar Hill— 5,782 31,614 — 17,824 5,782 49,438 55,220 27,148 20002004
Plaza at Marysville— 6,710 18,373 — 354 6,710 18,727 25,437 5,614 19952021
Pleasant Hill Commons— 3,350 10,036 — (128)3,350 9,908 13,258 4,017 20082014
Pleasant Run Towne Crossing— 4,465 24,645 — 2,448 4,465 27,093 31,558 7,229 20042021
Prestonwood Place— 14,282 61,202 — 606 14,282 61,808 76,090 6,197 1979/20202023
Publix at Woodruff— 1,783 6,285 — 1,063 1,783 7,348 9,131 5,987 19972012
Rampart Commons4,772 1,136 40,065 — 1,575 1,136 41,640 42,776 20,222 20182014
Rangeline Crossing— 1,981 17,434 — 4,461 1,981 21,895 23,876 9,475 1986/2013N/A
Riverchase Plaza— 3,889 10,826 — 1,396 3,889 12,222 16,111 6,746 1991/20012006
Rivers Edge— 5,647 28,556 — 6,311 5,647 34,867 40,514 13,406 20112008
Rivery Towne Crossing— 5,230 2,154 — 1,176 5,230 3,330 8,560 1,028 20052021
Royal Oaks Village II— 3,462 9,006 — 866 3,462 9,872 13,334 2,664 20042021
Sawyer Heights Village— 18,720 19,354 — 725 18,720 20,079 38,799 4,346 20072021
Saxon Crossing— 3,764 15,133 — 1,337 3,764 16,470 20,234 6,552 20092014
Shoppes at Hagerstown— 6,796 15,803 — 925 6,796 16,728 23,524 3,559 20082021
Shoppes at Plaza Green— 3,749 20,528 — 9,485 3,749 30,013 33,762 12,223 20002012
Shoppes at Quarterfield— 4,105 8,703 — 650 4,105 9,353 13,458 1,557 1999/20222021
Shoppes of Eastwood— 1,688 8,911 — 1,145 1,688 10,056 11,744 6,256 19972013
Shoppes of New Hope— 2,107 10,559 — 241 2,107 10,800 12,907 2,553 20042021
  
Initial Cost(1)
Cost Capitalized
Subsequent to Acquisition/Development		Gross Carrying Amount
Close of Period		    
NameEncumbrancesLandBuilding &
Improvements		LandBuilding &
Improvements		LandBuilding &
Improvements		TotalAccumulated
Depreciation		Year Built /
Renovated		Year
Acquired
Operating Properties (continued)           
Shoppes of Prominence Point$— $2,945 $11,078 $— $638 $2,945 $11,716 $14,661 $2,890 20042021
Shops at Eagle Creek— 2,121 7,966 — 5,024 2,121 12,990 15,111 7,212 19982003
Shops at Forest Commons— 1,616 9,320 — 686 1,616 10,006 11,622 2,730 20022021
Shops at Julington Creek— 2,372 7,241 — 521 2,372 7,762 10,134 2,784 20112014
Shops at Moore— 6,284 23,159 — 4,531 6,284 27,690 33,974 10,060 20102014
Silver Springs Pointe— 7,580 4,947 — 567 7,580 5,514 13,094 2,897 20012014
Southlake Corners— 7,998 16,529 — 641 7,998 17,170 25,168 5,329 20042021
Southlake Town Square— 19,534 319,696 — 27,544 19,534 347,240 366,774 97,664 19982021
Stilesboro Oaks— 3,712 11,268 — 407 3,712 11,675 15,387 3,343 19972021
Stonebridge Plaza— 1,923 7,917 — 324 1,923 8,241 10,164 2,350 19972021
Sunland Towne Centre— 14,774 21,949 — 6,730 14,774 28,679 43,453 15,607 19962004
Tacoma South— 30,058 3,291 — 1,257 30,058 4,548 34,606 1,145 19842021
Target South Center— 2,581 9,553 — 136 2,581 9,689 12,270 2,821 19992021
Tarpon Bay Plaza— 3,855 23,796 — 3,180 3,855 26,976 30,831 12,811 2007N/A
The Brickyard— 29,389 19,134 — 5,836 29,389 24,970 54,359 6,905 1977/20042021
The Corner— 3,772 23,437 — 359 3,772 23,796 27,568 8,235 20082014
The Landing at Tradition— 1,300 — — 64 1,300 64 1,364 — 20072014
The Shoppes at Union Hill6,832 9,876 46,208 — 2,208 9,876 48,416 58,292 12,241 20032021
The Shops at Legacy— 14,864 118,380 — 16,359 14,864 134,739 149,603 34,752 20022021
Tollgate Marketplace— 11,963 64,856 — 15,581 11,963 80,437 92,400 20,957 1979/19942021
Toringdon Market— 5,448 9,025 — 1,251 5,448 10,276 15,724 4,711 20042013
Towson Square— 1,412 26,684 — 352 1,412 27,036 28,448 5,170 20142021
Traders Point— 11,135 41,871 — 3,447 11,135 45,318 56,453 28,803 2005N/A
Tradition Village Center— 3,140 14,576 — 1,773 3,140 16,349 19,489 7,214 20062014
Tysons Corner— 13,334 10,407 — 140 13,334 10,547 23,881 1,979 1980/20132021
Village Commons— 24,080 38,037 — 33 24,080 38,070 62,150 2,514 1987/20152025
Village Shoppes at Simonton— 1,627 11,633 — 133 1,627 11,766 13,393 2,904 20042021
Walter's Crossing— 13,056 20,656 — 4,271 13,056 24,927 37,983 5,801 20052021
Waterford Lakes Village— 2,317 1,773 — 11,592 2,317 13,365 15,682 2,528 19972004
Waxahachie Crossing— 1,411 15,698 — 10 1,411 15,708 17,119 5,733 20102014
Westbury Center— 4,540 12,866 — 142 4,540 13,008 17,548 3,553 20002021
Winchester Commons— 2,119 9,325 — 115 2,119 9,440 11,559 2,762 19992021
  
Initial Cost(1)
Cost Capitalized
Subsequent to Acquisition/Development		Gross Carrying Amount
Close of Period		    
NameEncumbrancesLandBuilding &
Improvements		LandBuilding &
Improvements		LandBuilding &
Improvements		TotalAccumulated
Depreciation		Year Built /
Renovated		Year
Acquired
Operating Properties (continued)
Woodinville Plaza$— $24,722 $29,830 $— $6,186 $24,722 $36,016 $60,738 $9,205 19812021
Total Operating Properties142,937 1,625,948 4,481,369 8,267 599,426 1,634,215 5,080,795 6,715,010 1,623,188   
  
Initial Cost(1)
Cost Capitalized
Subsequent to Acquisition/Development		Gross Carrying Amount
Close of Period		    
NameEncumbrancesLandBuilding &
Improvements		LandBuilding &
Improvements		LandBuilding &
Improvements		TotalAccumulated
Depreciation		Year Built /
Renovated		Year
Acquired
Office and Other Properties           
Carillon MOB$— $593 $22,877 $— $535 $593 $23,412 $24,005 $1,436 20242021
Thirty South Meridian— 1,643 5,795 — 33,082 1,643 38,877 40,520 19,395 1905/20022001
Union Station Parking Garage— 904 2,310 — 2,281 904 4,591 5,495 2,577 19862001
Eastgate Crossing— 4,244 51,358 — 11,382 4,244 62,740 66,984 8,642 1958/20072020
Total Office and Other Properties— 7,384 82,340 — 47,280 7,384 129,620 137,004 32,050   
Development and Redevelopment Projects          
Carillon— 19,339 2,013 — 5,103 19,339 7,116 26,455 952 20042021
Hamilton Crossing Centre— 3,139 1,485 (19)2,727 3,120 4,212 7,332 — N/AN/A
One Loudoun – Uptown— 88,613 — (88)27,076 88,525 27,076 115,601 1 N/A2021
The Corner – IN— — — — — — — — — N/AN/A
Total Development and Redevelopment Projects— 111,091 3,498 (107)34,906 110,984 38,404 149,388 953   
Other **           
Bridgewater Marketplace— 855 — — — 855 — 855 — N/AN/A
KRG Development— — — — — — — — — N/AN/A
KRG New Hill— 1,092 — 130 — 1,222 — 1,222 — N/AN/A
KRG Peakway — — — — — — — — — N/AN/A
Total Other— 1,947 — 130 — 2,077 — 2,077 —   
Line of credit/Term loans/Unsecured notes2,885,000 — — — — — — — — N/AN/A
Grand Total$3,027,937 $1,746,370 $4,567,207 $8,290 $681,612 $1,754,660 $5,248,819 $7,003,479 $1,656,191   
(1)The balance for initial cost could include parcels/outparcels, assets written off, and/or provisions for impairment.
*    This property or a portion of the property is subject to a ground lease for the land.
**    This category generally includes land held for development. We also have certain additional land parcels at our development and operating properties, which amounts are included elsewhere in this table.
RECONCILIATION OF INVESTMENT PROPERTIES
The changes in investment properties for the years ended December 31, 2025, 2024 and 2023 are as follows:
Year Ended December 31,
202520242023
Balance as of January 1,$7,634,191 $7,740,061 $7,732,573 
Acquisitions62,117 38,101 75,587 
Property held for sale(12,944)(105,828)— 
Improvements150,976 139,895 140,654 
Impairment of property(41,018)(101,678)— 
Disposals(789,843)(76,360)(208,753)
Balance as of December 31,$7,003,479 $7,634,191 $7,740,061 
The unaudited aggregate cost of investment properties for U.S. federal income tax purposes as of December 31, 2025 was approximately $8.4 billion.
RECONCILIATION OF ACCUMULATED DEPRECIATION
The changes in accumulated depreciation for the years ended December 31, 2025, 2024 and 2023 are as follows:
Year Ended December 31,
202520242023
Balance as of January 1,$1,587,661 $1,381,770 $1,161,148 
Depreciation expense310,837 314,632 317,593 
Property held for sale— (1,360)— 
Impairment of property(6,339)(35,477)— 
Disposals(235,968)(71,904)(96,971)
Balance as of December 31,$1,656,191 $1,587,661 $1,381,770 
Depreciation of investment properties reflected in the accompanying consolidated statements of operations and comprehensive income (loss) is calculated over the estimated original lives of the assets as follows:
Buildings
20 – 35 years
Building improvements
10 – 35 years
Tenant improvementsTerm of related lease
Furniture and fixtures
5 – 10 years
All other schedules have been omitted because they are inapplicable, not required, or the information is included elsewhere in the accompanying consolidated financial statements or notes thereto.
v3.25.4
Insider Trading Arrangements
 3 Months Ended
Dec. 31, 2025
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.25.4
Insider Trading Policies and Procedures
 12 Months Ended
Dec. 31, 2025
Insider Trading Policies and Procedures [Line Items]  
Insider Trading Policies and Procedures Adopted true
v3.25.4
Cybersecurity Risk Management and Strategy Disclosure
 12 Months Ended
Dec. 31, 2025
Cybersecurity Risk Management, Strategy, and Governance [Line Items]  
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]
Cybersecurity Risk Management Process
The Company relies extensively on IT systems to operate and manage its business and process transactions. Therefore, cybersecurity incidents pose a risk to our business and have the potential to impact it. The Company’s cybersecurity risk management program leverages the National Institute of Standards and Technology (“NIST”) Cybersecurity Framework, which is used to benchmark and tailor the Company’s strategies and program to our risk profile and specific operational needs and goals.
As risk management is an ongoing process, the Company regularly assesses its cybersecurity risks and adjusts its program accordingly. Multiple monitoring solutions automatically log potential cyber threats and proactively address them. Our monitoring tools use well-established scoring mechanisms to aid in the overall risk assessment. The scoring ranks potential threats by potential severity and likelihood and includes a review of mitigating factors. The Company prioritizes its cybersecurity investments based on the likelihood and impact of potential threats.
We recognize that cybercriminals frequently target employees to gain unauthorized access to information systems. Therefore, from onboarding and at least annually thereafter, the Company educates and trains its employees on cybersecurity leading practices using a variety of methods, which is supplemented throughout the year with regular phishing and other cyber-related testing. The Company regularly performs internal and external penetration testing and vulnerability scanning with the support of well-established third-party providers. The IT staff and management review any identified deficiencies or vulnerabilities, and remediation steps are taken based on the criticality of the results.
Cybersecurity tools and services are configured to identify threats and risks that may be associated with the use of third-party applications or solutions. We prioritize our cybersecurity efforts relating to third parties based on the likelihood and potential impact of cybersecurity threats. These efforts may include reviewing security documentation or protocols for key vendors, service providers, and external users of our systems.
The Company has developed cybersecurity incident response plans to contain, investigate, respond to, and recover from cybersecurity incidents that may jeopardize the confidentiality, integrity, or availability of our IT systems. Key members of management, including the Company’s Chief Financial Officer, Chief Operating Officer, Chief Administrative and Transformation Officer, and Chief Legal Officer, as well as employees from IT, internal audit, human resources, and marketing and communications, serve on the Company’s security incident response team to help the Company mitigate and remediate cybersecurity incidents of which they are notified. Our response plans require prompt notification to members of senior management in the event of a significant cybersecurity incident and prompt briefings on further developments as appropriate.
Risks And Impact From Cybersecurity Threats
We have identified cyber attacks and other cybersecurity incidents on our IT systems and those of third parties, including through e-mail phishing attempts and scams, but none of the risks from cybersecurity threats or incidents identified as of December 31, 2025, including third-party incidents, during any of the prior three fiscal years, has materially affected or is reasonably likely to materially affect the Company, including our business strategy, results of operations, or financial condition. However, evolving cybersecurity threats make it increasingly challenging to anticipate, detect, and defend against them and any incidents. For more information regarding our cybersecurity risks, see “We and our tenants face risks related to cyber attacks that could cause loss of confidential information and other business disruptions” in Item 1A, “Risk Factors,” within this Annual Report on Form 10-K.
Cybersecurity Risk Management Processes Integrated [Flag] true
Cybersecurity Risk Management Processes Integrated [Text Block]
The Company relies extensively on IT systems to operate and manage its business and process transactions. Therefore, cybersecurity incidents pose a risk to our business and have the potential to impact it. The Company’s cybersecurity risk management program leverages the National Institute of Standards and Technology (“NIST”) Cybersecurity Framework, which is used to benchmark and tailor the Company’s strategies and program to our risk profile and specific operational needs and goals.
Cybersecurity Risk Management Third Party Engaged [Flag] true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag] true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] false
Cybersecurity Risk Board of Directors Oversight [Text Block]
Our Board of Trustees oversees various risks the Company may face from time to time. While the full Board of Trustees has primary responsibility for risk oversight, it has delegated to the Audit Committee the responsibility for overseeing the Company’s enterprise risk management and risk mitigation policies and programs, including matters related to privacy and cybersecurity. The Audit Committee reviews the Company’s cybersecurity risks and the effectiveness of its cybersecurity program every quarter, including current threat levels and ongoing program enhancements. The Audit Committee receives quarterly reports on these topics from the Senior Vice President—Chief Administrative and Transformation Officer and the Vice President—Internal Audit and Enterprise Risk Management. In addition, when appropriate, the Company’s Chief Financial Officer will report cybersecurity risks and incidents to the Board of Trustees.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block] Audit Committee
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block] The Audit Committee reviews the Company’s cybersecurity risks and the effectiveness of its cybersecurity program every quarter, including current threat levels and ongoing program enhancements.
Cybersecurity Risk Role of Management [Text Block]
The Company’s management team is responsible for implementing and managing the Company’s cybersecurity risk management program. The management team regularly reviews the Company’s cybersecurity risks and adjusts the program as needed. Risk data analyzed includes summary and detailed data from monitoring and protection systems along with remediation reports to help ensure the constant evolution of the program.
Key members of the IT team responsible for information security include individuals with over 20 years of experience in industries such as real estate, global retail, fintech, and insurance, as well as backgrounds with top IT service and solutions providers.
Cybersecurity Risk Management Positions or Committees Responsible [Flag] true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]
The Company’s management team is responsible for implementing and managing the Company’s cybersecurity risk management program. The management team regularly reviews the Company’s cybersecurity risks and adjusts the program as needed. Risk data analyzed includes summary and detailed data from monitoring and protection systems along with remediation reports to help ensure the constant evolution of the program.
Key members of the IT team responsible for information security include individuals with over 20 years of experience in industries such as real estate, global retail, fintech, and insurance, as well as backgrounds with top IT service and solutions providers. Our team is supported by a third-party company that we have retained to act as our chief information officer based on the third-party company’s extensive experience in the industry and knowledge regarding appropriate cybersecurity processes and procedures, and its ability to assess the integrity of those processes and procedures. The IT team provides quarterly reports to the Company’s senior management, which typically address, among other things, the Company’s cybersecurity strategy, initiatives, key security metrics, business response plans, and the evolving cybersecurity threat landscape.
The Company has cybersecurity insurance designed to cover certain expenses related to cybersecurity incidents. The Company also carries other insurance that may cover ancillary aspects of a cybersecurity incident; however, damage and claims arising from a cybersecurity incident may exceed the amount of any insurance available.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block] Key members of the IT team responsible for information security include individuals with over 20 years of experience in industries such as real estate, global retail, fintech, and insurance, as well as backgrounds with top IT service and solutions providers. Our team is supported by a third-party company that we have retained to act as our chief information officer based on the third-party company’s extensive experience in the industry and knowledge regarding appropriate cybersecurity processes and procedures, and its ability to assess the integrity of those processes and procedures.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block] The Audit Committee receives quarterly reports on these topics from the Senior Vice President—Chief Administrative and Transformation Officer and the Vice President—Internal Audit and Enterprise Risk Management.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag] true
v3.25.4
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)
 12 Months Ended
Dec. 31, 2025
Accounting Policies [Abstract]  
Investment Properties
Investment properties are recorded at cost and include costs of land acquisition, development, predevelopment, construction, certain allocated overhead, tenant allowances and improvements, and interest and real estate taxes incurred during construction. Significant renovations and improvements are capitalized when they extend the useful life, increase capacity, or improve the efficiency of the asset. If a tenant vacates a space prior to the lease expiration, terminates its lease, or otherwise notifies the Company of its intent to do so, any related unamortized tenant allowances are expensed over the shortened lease period. Ordinary repairs and maintenance that do not extend the useful lives of the respective assets are expensed as incurred and included within “Property operating” expense in the accompanying consolidated statements of operations and comprehensive income (loss).
Predevelopment costs are incurred prior to vertical construction and for certain land held for development during the due diligence phase and include contract deposits, legal and engineering, the cost of internal resources, and other professional fees related to evaluating the feasibility of developing or redeveloping a shopping center or other project. These predevelopment costs are capitalized and included within “Investment properties, at cost” in the accompanying consolidated balance sheets. If we determine that the completion of a development project is no longer probable, all previously incurred predevelopment costs are immediately expensed. Land is transferred to construction in progress once construction commences on the related project.
We also capitalize costs such as land acquisition, building construction, interest, real estate taxes, and the cost of personnel directly involved in the development of our properties. As a portion of a development project becomes operational, we begin depreciating a pro rata amount of the related costs.
Depreciation expense is computed using the straight-line method. Buildings and improvements are depreciated over estimated original useful lives ranging from 10 to 35 years. Tenant improvements and allowances are depreciated over the term of the related lease. Equipment and fixtures are depreciated over five to 10 years. Depreciation may be accelerated for a redevelopment project, including partial demolition of an existing structure, after the asset is assessed for impairment.
We recognize the sale of real estate when control transfers to the buyer. As part of our ongoing business strategy, we will, from time to time, sell properties, land parcels, and outlots, some of which are ground-leased to tenants. Net gains realized on outlot sales were $6.1 million, $4.4 million, and $1.7 million for the years ended December 31, 2025, 2024 and 2023, respectively, and are presented in “Net gains from outlot sales” in the accompanying consolidated statements of operations and comprehensive income (loss).
Valuation of Investment Properties
Management reviews our operating and development projects, land parcels, and intangible assets for impairment on a property-by-property basis whenever events or changes in circumstances indicate that the carrying value of the asset may not be recoverable. This review for possible impairment requires certain assumptions, estimates, and significant judgment. Examples of situations considered to be impairment indicators for both operating properties and development projects include, but are not limited to:
•a substantial decline in or continued low occupancy rate or cash flow;
•expected significant declines in occupancy in the near future;
•continued difficulty in leasing space;
•a significant concentration of financially troubled tenants;
•a reduction in the anticipated holding period;
•a cost accumulation or delay in the project completion date significantly above and beyond the original development or redevelopment estimate;
•a significant decrease in the market price not in line with general market trends; and
•any other quantitative or qualitative events or factors deemed significant by the Company’s management or Board of Trustees.
Impairment losses for investment properties and intangible assets are measured when the undiscounted cash flows estimated to be generated by the investment properties during the expected holding period are less than their carrying amounts. The evaluation of impairment is subject to certain management assumptions, including projected net operating income, anticipated holding period, expected capital expenditures, and the capitalization rate used to estimate the property’s residual value. Impairment losses are recorded as the excess of the carrying value over the estimated fair value of the asset. Our impairment review for land and development properties assumes we have the intent and ability to complete the developments or projected uses for the land parcels. If we determine those plans will not be completed or our assumptions with respect to operating assets are not realized, an impairment loss may be appropriate.
Investment Properties Held for Sale The Company classifies an operating property as held for sale only when the property is available for immediate sale in its present condition and for which management believes it is probable that a sale of the property will be completed within one year, among other factors. An operating property classified as held for sale is carried at the lower of cost or fair value less estimated costs to sell. Depreciation and amortization are suspended during the held-for-sale period.
Acquisition of Investment Properties
Real estate assets are recognized on our consolidated balance sheets at historical cost, less accumulated depreciation and amortization. Upon acquisition of real estate operating properties, we estimate the fair value of acquired identifiable tangible assets (consisting of land, buildings and improvements) and identified intangible assets and liabilities (consisting of above-
market and below-market leases and in-place leases), assumed debt, and any noncontrolling interest in the acquiree at the date of acquisition based upon an evaluation of information and estimates available at the acquisition date. Based on these estimates, we record the estimated fair value to the applicable assets and liabilities. In making estimates of fair value, several sources are used, including information obtained as a result of pre-acquisition due diligence, marketing, and leasing activities. The estimates of fair value were determined to have primarily relied upon Level 2 and Level 3 inputs, as defined below.
Fair value is determined for tangible assets and intangible assets and liabilities, including:
•the fair value of the building on an as-if-vacant basis and the fair value of the land determined either by comparable market data, real estate tax assessments, independent appraisals, or other relevant data;
•above-market and below-market in-place lease values for acquired properties, which are based on the present value (using an interest rate that reflects the risks associated with the leases acquired) of the difference between (i) the contractual amounts to be paid pursuant to the in-place leases and (ii) management’s estimate of fair market lease rates for the corresponding in-place leases, measured over the remaining non-cancelable term of the leases. Any below-market renewal options are also considered in the in-place lease values. The capitalized above-market and below-market lease values are amortized as a reduction of, or addition to, rental income over the term of the leases. Should a tenant vacate, terminate its lease, or otherwise notify us of its intent to do so, the unamortized portion of the lease intangibles would be charged or credited to income as applicable;
•the value of having a lease in place at the acquisition date. We use independent and internal sources for our estimates to determine the respective in-place lease values. Our estimates of value use methods similar to those used by independent appraisers. Factors we consider in our analysis include an estimate of costs to execute similar leases, including tenant improvements, leasing commissions, and foregone costs related to the reimbursement of property operating expenses, and fair market rent received during the estimated lease-up period as if the space were vacant. The value of in-place leases is amortized to depreciation and amortization expense over the remaining initial terms of the respective leases; and
•the fair value of any assumed financing that is determined to have above- or below-market terms. We use third-party and independent sources for our estimates to determine the respective fair value of each mortgage and other indebtedness, including related derivative instruments, assumed. The fair market value of each is amortized to interest expense over the remaining initial terms of the respective instruments.
We also consider whether there is any value to in-place leases that have a related customer relationship intangible value. Characteristics we consider in determining these values include the nature and extent of existing business relationships with the tenant, growth prospects for developing new business with the tenant, the tenant’s credit quality, and expectations of lease renewals, among other factors. To date, we have not developed a tenant relationship that we consider to have a current intangible value.
Consolidation and Investments in Joint Ventures
The accompanying financial statements are presented on a consolidated basis and include all accounts of the Parent Company, the Operating Partnership, the taxable REIT subsidiaries (“TRSs”) of the Operating Partnership, subsidiaries of the Operating Partnership that are controlled, and any variable interest entities (“VIEs”) in which the Operating Partnership is the primary beneficiary. In general, a VIE is a corporation, partnership, trust, or any other legal structure used for business purposes that either (a) has equity investors that do not provide sufficient financial resources for the entity to support its activities, (b) does not have equity investors with voting rights, or (c) has equity investors whose votes are disproportionate from their economics, and substantially all of the activities are conducted on behalf of the investor with disproportionately fewer voting rights.
The Operating Partnership accounts for properties that are owned by joint ventures in accordance with the consolidation guidance by evaluating each joint venture and determining first whether to follow the VIE or the voting interest entity (“VOE”) model. Once the appropriate consolidation model is identified, the Operating Partnership then evaluates whether it should consolidate the joint venture. Under the VIE model, the Operating Partnership consolidates an entity when it has (i) the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance and (ii) the obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE. Under the VOE model, the
Operating Partnership consolidates an entity when (i) it controls the entity through ownership of a majority voting interest if the entity is not a limited partnership or (ii) it controls the entity through its ability to remove the other partners or owners in the entity, at its discretion, when the entity is a limited partnership.
In determining whether to consolidate a VIE with the Operating Partnership, we consider all relationships between the Operating Partnership and the applicable VIE, including development and management agreements and other contractual arrangements, in determining whether we have the power to direct the activities of the VIE that most significantly affect the VIE’s performance.
The Operating Partnership is considered a VIE, as the limited partners do not hold kick-out rights or substantive participating rights. The Parent Company consolidates the Operating Partnership as it is the primary beneficiary in accordance with the VIE model. We use the nature-of-distribution approach for purposes of determining whether distributions should be classified as either a return on investment, which would be included in operating activities, or a return of investment, which would be included in investing activities in the accompanying consolidated statements of cash flows. Under this approach, we assess the nature of all distributions to determine the appropriate classification.
Cash and Cash Equivalents
We consider all highly liquid investments purchased with an original maturity of 90 days or less to be cash and cash equivalents. From time to time, such investments may temporarily be held in accounts that exceed the Federal Deposit Insurance Corporation (“FDIC”) and the Securities Investor Protection Corporation (“SIPC”) insurance limits. The Company periodically assesses the credit risk associated with these financial institutions and believes the risk of loss is minimal.
Restricted Cash and Escrow Deposits
Restricted cash and escrow deposits consist of cash held for real estate taxes, property maintenance, insurance, and other requirements at specific properties as required by lending institutions, certain municipalities, or other agreements, as well as funds held in escrow for potential Code Section 1031 tax-deferred exchange transactions (“1031 Exchanges”).
Fair Value Measurements
We follow the framework established under ASC 820, Fair Value Measurements and Disclosures, for measuring the fair value of non-financial assets and liabilities that are not required or permitted to be measured at fair value on a recurring basis but only in certain circumstances, such as a business combination or upon determination of an impairment.
Assets and liabilities recorded at fair value in the accompanying consolidated balance sheets are categorized based on the inputs to the valuation techniques as follows:
•Level 1 fair value inputs are quoted prices in active markets for identical instruments to which we have access.
•Level 2 fair value inputs are inputs other than quoted prices included in Level 1 that are observable for similar instruments, either directly or indirectly, and appropriately consider counterparty creditworthiness in the valuation.
•Level 3 fair value inputs reflect our best estimate of inputs and assumptions market participants would use in pricing an instrument at the measurement date. The inputs are unobservable in the market and significant to the valuation estimate.
In instances where the determination of the fair value measurement is based upon inputs from different levels of the fair value hierarchy, the level in the fair value hierarchy within which the entire fair value measurement falls is based on the lowest-level input that is significant to the fair value measurement in its entirety. Our assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the asset or liability.
Note 3, “Acquisitions,” to the accompanying consolidated financial statements includes a discussion of the fair values recorded for wholly owned asset acquisitions. Level 3 inputs to these transactions include our estimations of net rental rates of retail anchors and small shop spaces, capitalization rates, and disposal values. Note 4, “Dispositions and Impairment Charges,” to the accompanying consolidated financial statements includes a discussion of the fair values recorded when we recognized impairment charges during the years ended December 31, 2025, 2024 and 2023. Level 2 inputs to these transactions include the expected sales price from an executed sales contract, and Level 3 inputs consist of our estimation of capitalization rates. Note 9, “Mortgage and Other Indebtedness,” to the accompanying consolidated financial statements includes a discussion of the estimated fair value of fixed- and variable-rate debt, which are estimated using Level 2 and Level 3 inputs. As discussed in Note 10, “Derivative Instruments, Hedging Activities and Other Comprehensive Income,” to the accompanying consolidated financial statements, we have determined that derivative valuations are classified within Level 2 of the fair value hierarchy.
Cash and cash equivalents, accounts receivable, escrows and deposits, and other working capital balances approximate fair value.
Derivative Financial Instruments
The Company accounts for its derivative financial instruments at fair value calculated in accordance with ASC 820, Fair Value Measurements and Disclosures. Gains and losses resulting from changes in the fair value of the derivatives are accounted for depending on their use and whether they qualify for hedge accounting. We use derivative instruments such as interest rate swaps or interest rate locks to mitigate interest rate risk on the related financial instruments.
Changes in the fair value of derivatives that qualify as cash flow hedges are recorded within “Accumulated other comprehensive income” in the accompanying consolidated balance sheets and amortized over the underlying term of the hedged transaction, while any ineffective portion of a derivative’s change in fair value is recognized immediately in earnings. For derivative contracts designated as fair value hedges, the gain or loss on the derivative is included within “Mortgage and other indebtedness, net” in the accompanying consolidated balance sheets. We include the gain or loss on the hedged item in the same account as the offsetting gain or loss on the related derivative contract. As of December 31, 2025 and 2024, all of our derivative financial instruments qualify for hedge accounting.
Revenue Recognition
As a lessor of real estate assets, the Company retains substantially all of the risks and benefits of ownership and accounts for its leases as operating leases.
Contractual minimum base rent, percentage rent, and expense reimbursements from tenants for common area maintenance expenses, insurance, and real estate taxes are our principal sources of revenue. Base minimum rents are recognized on a straight-line basis over the terms of the respective leases. Certain lease agreements contain provisions that provide for additional rents based upon a tenant’s sales volume (contingent overage rent). Overage rent is recognized when tenants achieve the specified sales targets as defined in their lease agreements and is included within “Rental income” in the accompanying consolidated statements of operations and comprehensive income (loss). If we determine that collectibility is probable, we recognize income from rentals based on the methodology described above. If we determine that collectibility is not probable, we recognize income only to the extent that cash has been received from the tenant. We have accounts receivable due from tenants and are subject to the risk of tenant defaults and bankruptcies, which may affect the collection of outstanding receivables. These receivables are reduced for credit loss, which is recognized as a reduction to rental income. We regularly evaluate the collectibility of lease-related receivables by analyzing past-due account balances and consider such factors as the credit quality of the tenant, historical write-off experience, tenant creditworthiness, and current economic trends when evaluating the collectibility of rental income. Although we estimate uncollectible receivables and provide for them through charges against income, actual experience may differ from those estimates.
Tenant and Other Receivables and Allowance for Uncollectible Accounts
Tenant receivables consist primarily of billed minimum rent, accrued and billed tenant reimbursements, and accrued straight-line rent. The Company generally does not require specific collateral from its tenants other than corporate or personal guarantees. Other receivables consist primarily of amounts due from municipalities and tenants for non-rental revenue-related activities.
An allowance for uncollectible accounts, including future credit losses of the accrued straight-line rent receivables, is maintained for estimated losses resulting from the inability of certain tenants to meet contractual obligations under their lease agreements. Accounts are written off when, in the opinion of management, the balance is deemed uncollectible.
Concentration of Credit Risk
We may be subject to concentrations of credit risk with regard to our cash and cash equivalents. We place cash and temporary cash investments with high-credit-quality financial institutions. From time to time, such cash and investments may temporarily be in excess of insurance limits. In addition, our leases with tenants potentially subject us to a concentration of credit risk related to our accounts receivable and revenue.
Income Taxes and REIT Compliance and Operating Partnership
Parent Company
The Parent Company has been organized and operated, and it intends to continue to operate, in a manner that will enable it to maintain its qualification as a REIT for U.S. federal income tax purposes. As a result, it generally will not be subject to U.S. federal income tax on the earnings that it distributes to the extent it distributes its “REIT taxable income” (determined before the deduction for dividends paid and excluding net capital gains) to shareholders of the Parent Company and meets certain other requirements on a recurring basis. To the extent that it satisfies this distribution requirement but distributes less than 100% of its taxable income, it will be subject to U.S. federal income tax on its undistributed REIT taxable income at regular corporate income tax rates. REITs are subject to a number of organizational and operational requirements. If the Parent Company fails to qualify as a REIT in any taxable year, it will be subject to U.S. federal income tax on its taxable income at regular corporate income tax rates for a period of four years following the year in which qualification is lost. Additionally, we may also be subject to certain taxes enacted by the Inflation Reduction Act of 2022 that are applicable to non-REIT corporations, including the non-deductible 1% excise tax on certain stock repurchases. We may also be subject to certain U.S. federal, state, and local taxes on our income and property and to U.S. federal income and excise taxes on our undistributed taxable income even if the Parent Company does qualify as a REIT. The Operating Partnership intends to continue to make distributions to the Parent Company in amounts sufficient to assist the Parent Company in adhering to REIT requirements and maintaining its REIT status.
We have elected to treat Kite Realty Holdings, LLC and IWR Protective Corporation as TRSs of the Operating Partnership, and we may elect to treat other subsidiaries as TRSs in the future. This election enables us to receive income and provide services that would otherwise be impermissible for a REIT. Deferred tax assets and liabilities are established for temporary differences between the financial reporting bases and the tax bases of assets and liabilities at the tax rates expected to be in effect when the temporary differences reverse. Deferred tax assets are reduced by a valuation allowance if it is more likely than not that some portion or all of the deferred tax assets will not be realized.
Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date. The Company recognizes the effect of income tax positions only if those positions are more likely than not to be sustained. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. The Company records interest related to unrecognized tax benefits within “Interest expense” and penalties within “General, administrative and other” expenses in the accompanying consolidated statements of operations and comprehensive income (loss).
The allocated share of income and loss, other than the operations of our TRSs, is included in the income tax returns of the Operating Partnership’s partners. Accordingly, the only U.S. federal income taxes included in the accompanying consolidated financial statements are in connection with the TRSs.
Noncontrolling Interests We report the non-redeemable noncontrolling interests in subsidiaries as equity, and the amount of consolidated net income attributable to these noncontrolling interests is set forth separately in the accompanying consolidated financial statements. 
Prior to the merger with RPAI in October 2021, RPAI entered into a joint venture related to the development, ownership, and operation of the multifamily rental portion of the expansion project at One Loudoun Downtown – Pads G & H. The Company owns 90% of the joint venture.
Under terms defined in the joint venture agreement, after construction completion and stabilization of the development project (as defined in the joint venture agreement), the Company has the ability to call, and the joint venture partner has the ability to put to the Company, subject to certain conditions, the joint venture partner’s interest in the joint venture at fair value. As of December 31, 2025, the conditions for exercising the put and call options have been met, but neither the Company nor the joint venture partner has exercised their respective options.
The joint venture is considered a VIE primarily because the Company’s joint venture partner does not have substantive kick-out rights or substantive participating rights. The Company is considered the primary beneficiary, as it has a controlling financial interest in the joint venture. As such, the Company has consolidated this joint venture and presented the joint venture partner’s interests as noncontrolling interests.
Limited Partner Units are redeemable noncontrolling interests in the Operating Partnership. We classify redeemable noncontrolling interests in the Operating Partnership outside of permanent equity in the accompanying consolidated balance sheets because we may be required to pay cash to holders of Limited Partner Units upon redemption of their interests in the Operating Partnership or deliver registered shares upon their conversion. The carrying amount of the redeemable noncontrolling interests in the Operating Partnership is reflected at the greater of historical book value or redemption value with a corresponding adjustment to additional paid-in capital. As of December 31, 2025 and 2024, the redemption value of the redeemable noncontrolling interests in the Operating Partnership exceeded the historical book value, and the balances were accordingly adjusted to redemption value.
We allocate net operating results of the Operating Partnership after noncontrolling interests in the consolidated properties based on the partners’ respective weighted average ownership interests. We adjust the redeemable noncontrolling interests in the Operating Partnership at the end of each reporting period to reflect their interests in the Operating Partnership or redemption value. This adjustment is reflected in our shareholders’ and Parent Company’s equity.
As of December 31, 2025, the Parent Company’s interest and the limited partners’ redeemable noncontrolling ownership interests in the Operating Partnership were 97.7% and 2.3%, respectively. As of December 31, 2024, the Parent Company’s interest and the limited partners’ redeemable noncontrolling ownership interests in the Operating Partnership were 98.1% and 1.9%, respectively.
Concurrent with the Parent Company’s IPO and related formation transactions, certain individuals received Limited Partner Units of the Operating Partnership in exchange for their interests in certain properties. The limited partners have the right to redeem Limited Partner Units for cash or, at the Parent Company’s election, common shares of the Parent Company in an amount equal to the market value of an equivalent number of common shares of the Parent Company at the time of redemption. Such common shares must be registered, which is not fully in the Parent Company’s control. Therefore, the limited partners’ interest is not reflected within permanent equity. The Parent Company also has the right to redeem the Limited Partner Units directly from the limited partner in exchange for either cash in the amount specified above or a number of its common shares equal to the number of Limited Partner Units being redeemed.
There were 4,849,588 and 4,192,597 Limited Partner Units outstanding as of December 31, 2025 and 2024, respectively. The increase in Limited Partner Units outstanding from December 31, 2024 is due to non-cash compensation awards granted to our executive officers in the form of Limited Partner Units.
Effects of Accounting Pronouncements
In November 2024, the FASB issued Accounting Standards Update (“ASU”) 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. This guidance requires public entities to disclose, in a tabular format, the amounts of certain natural expenses included within relevant expense captions presented on the face of the income statement and provide additional disclosures about selling expenses. The new disclosure requirements are effective for annual reporting periods beginning after December 15, 2026 and interim periods within annual reporting periods beginning after December 15, 2027, with early adoption permitted, and may be applied either prospectively or retrospectively. The Company is currently evaluating the impact of this guidance on its consolidated financial statements and related disclosures.
Any other recently issued accounting standards or pronouncements have been excluded, as they are either not relevant to the Company or they are not expected to have a material impact on the Company’s consolidated financial statements.
v3.25.4
ORGANIZATION AND BASIS OF PRESENTATION (Tables)
 12 Months Ended
Dec. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Investment Properties
As of December 31, 2025, the Company’s portfolio consisted of the following:
PropertiesSquare Footage
Operating retail/mixed-use properties159 24,733,200 
Operating retail/mixed-use properties – unconsolidated joint ventures8 2,146,882 
Total operating retail/mixed-use properties(1)
167 26,880,082 
Standalone office properties(2)
2 412,812 
Development and redevelopment projects:
One Loudoun Expansion— 119,000 
Hamilton Crossing Centre1 — 
Edwards Multiplex – Ontario1 124,614 
(1)Included within the operating retail/mixed-use properties are 10 properties that contain an office component. Excludes two operating retail properties classified as held for sale as of December 31, 2025, as well as Eastgate Crossing, a 152,682 square foot multi-tenant retail property in the Durham-Chapel Hill metropolitan statistical area (“MSA”) that was reclassified from our operating portfolio in September 2025 due to significant disruption caused by severe flooding as a result of Tropical Storm Chantal.
(2)Standalone office properties include the Company’s headquarters at 30 South Meridian and the Carillon medical office building, which was reclassified from active redevelopment into our office portfolio in December 2024.
The following table summarizes the composition of the Company’s investment properties as of December 31, 2025 and 2024 (in thousands):
December 31, 2025December 31, 2024
Land, buildings and improvements$6,938,588 $7,591,036 
Construction in progress64,891 43,155 
Investment properties, at cost$7,003,479 $7,634,191 
v3.25.4
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 12 Months Ended
Dec. 31, 2025
Accounting Policies [Abstract]  
Schedule of Investment Properties
As of December 31, 2025, the Company’s portfolio consisted of the following:
PropertiesSquare Footage
Operating retail/mixed-use properties159 24,733,200 
Operating retail/mixed-use properties – unconsolidated joint ventures8 2,146,882 
Total operating retail/mixed-use properties(1)
167 26,880,082 
Standalone office properties(2)
2 412,812 
Development and redevelopment projects:
One Loudoun Expansion— 119,000 
Hamilton Crossing Centre1 — 
Edwards Multiplex – Ontario1 124,614 
(1)Included within the operating retail/mixed-use properties are 10 properties that contain an office component. Excludes two operating retail properties classified as held for sale as of December 31, 2025, as well as Eastgate Crossing, a 152,682 square foot multi-tenant retail property in the Durham-Chapel Hill metropolitan statistical area (“MSA”) that was reclassified from our operating portfolio in September 2025 due to significant disruption caused by severe flooding as a result of Tropical Storm Chantal.
(2)Standalone office properties include the Company’s headquarters at 30 South Meridian and the Carillon medical office building, which was reclassified from active redevelopment into our office portfolio in December 2024.
The following table summarizes the composition of the Company’s investment properties as of December 31, 2025 and 2024 (in thousands):
December 31, 2025December 31, 2024
Land, buildings and improvements$6,938,588 $7,591,036 
Construction in progress64,891 43,155 
Investment properties, at cost$7,003,479 $7,634,191 
Schedule of Cash and Cash Equivalents
The following table summarizes our total cash, cash equivalents and restricted cash as presented in the accompanying consolidated statements of cash flows for the years ended December 31, 2025, 2024 and 2023 (in thousands):
Year Ended December 31,
202520242023
Cash and cash equivalents$36,761 $128,056 $36,413 
Restricted cash and escrow deposits441,605 5,271 5,017 
Restricted cash associated with investment property held for sale25 225 — 
Cash, cash equivalents and restricted cash$478,391 $133,552 $41,430 
Schedule of Restricted Cash
The following table summarizes our total cash, cash equivalents and restricted cash as presented in the accompanying consolidated statements of cash flows for the years ended December 31, 2025, 2024 and 2023 (in thousands):
Year Ended December 31,
202520242023
Cash and cash equivalents$36,761 $128,056 $36,413 
Restricted cash and escrow deposits441,605 5,271 5,017 
Restricted cash associated with investment property held for sale25 225 — 
Cash, cash equivalents and restricted cash$478,391 $133,552 $41,430 
Schedule of Revenue Concentration
For the year ended December 31, 2025, the percentage of the Company’s revenue recognized from tenants leasing space in the states where the majority of our portfolio is concentrated, which includes Texas, Florida, Virginia, New York, and Indiana, was as follows:
Texas26.1%
Florida11.4%
Virginia7.5%
New York7.1%
Indiana6.7%
Schedule of Tax Characterization of Dividends Paid The following table summarizes the tax characterization of the dividends paid by the Parent Company for the years ended December 31, 2025, 2024 and 2023:
Year Ended December 31,
202520242023
Ordinary income83.2%96.4%90.6%
Return of capital0.0%0.0%0.0%
Capital gains16.8%3.6%9.4%
100.0%100.0%100.0%
Schedule of Noncontrolling Interests The following table summarizes the non-redeemable noncontrolling interests in consolidated properties for the years ended December 31, 2025, 2024 and 2023 (in thousands):
Year Ended December 31,
202520242023
Noncontrolling interests balance as of January 1,$1,893 $2,430 $5,370 
Net income allocable to noncontrolling interests, excluding
redeemable noncontrolling interests
311 280 256 
Distributions to noncontrolling interests(1)
(284)(817)(3,196)
Noncontrolling interests balance as of December 31,$1,920 $1,893 $2,430 
(1)During the year ended December 31, 2023, we received a $3.2 million distribution from excess proceeds related to a third-party financing.
Schedule of Ownership Interests of the Parent Company and Limited Partners For the years ended December 31, 2025, 2024 and 2023, the weighted average interests of the Parent Company and the limited partners in the Operating Partnership were as follows:
 Year Ended December 31,
 202520242023
Parent Company’s weighted average interest in the Operating Partnership97.9%98.3%98.6%
Limited partners’ weighted average interests in the Operating Partnership 2.1%1.7%1.4%
Schedule of Redeemable Noncontrolling Interests
The redeemable noncontrolling interests in the Operating Partnership for the years ended December 31, 2025, 2024 and 2023 were as follows (in thousands):
Year Ended December 31,
202520242023
Redeemable noncontrolling interests balance as of January 1,$98,074 $73,287 $53,967 
Net income allocable to redeemable noncontrolling interests6,554 65 629 
Distributions declared to redeemable noncontrolling interests(7,355)(3,970)(3,159)
Other, net including adjustments to redemption value18,972 28,692 21,850 
Total limited partners’ interests in the Operating Partnership as of December 31,
$116,245 $98,074 $73,287 
v3.25.4
ACQUISITIONS (Tables)
 12 Months Ended
Dec. 31, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Schedule of Asset Acquisitions
The Company closed on the following wholly owned and unconsolidated asset acquisitions during the years ended December 31, 2025, 2024 and 2023 (dollars in thousands):
DateProperty NameOwnership InterestMSAProperty TypeRetail
Square Footage		Acquisition
Price
2025
January 15, 2025Village Commons100%MiamiMulti-tenant retail170,976 $68,400 
April 28, 2025
Legacy West(1)
52%Dallas/Ft. WorthMulti-tenant retail, office & multifamily342,011 408,200 
512,987 $476,600 
2024
August 30, 2024Parkside West Cobb100%AtlantaMulti-tenant retail141,627 $40,125 
2023
September 22, 2023Prestonwood Place100%Dallas/Ft. WorthMulti-tenant retail155,975 $81,000 
(1)Legacy West also contains 443,553 square feet of office space and 782 multifamily units.
Schedule of Fair Value of Assets Acquired and Liabilities Assumed
The following table summarizes the fair value of assets acquired and liabilities assumed for the wholly owned asset acquisitions completed during the years ended December 31, 2025, 2024 and 2023 (in thousands):
Year Ended December 31,
202520242023
Assets:
Investment properties, net$62,154 $38,080 $75,506 
Tenant and other receivables, net— 18 — 
Lease-related intangible assets, net(1)
7,829 4,607 6,971 
Total acquired assets69,983 42,705 82,477 
Liabilities:
Accounts payable and accrued expenses— 664 2,823 
Deferred revenue and other liabilities1,517 2,496 1,556 
Total assumed liabilities1,517 3,160 4,379 
Fair value of net assets acquired$68,466 $39,545 $78,098 
(1)The weighted average remaining life of leases at the acquired properties is approximately 6.1 years, 6.1 years, and 6.2 years for asset acquisitions completed during the years ended December 31, 2025, 2024 and 2023, respectively.
Schedule of Level 3 Assumptions Used in Determining Value of Acquired Assets
The range of the most significant Level 3 assumptions used in determining the value of the real estate and related assets acquired through wholly owned asset acquisitions are as follows:
202520242023
Net rental rate per square foot – Retail Anchors
$15.50
$18.75 to $19.00
N/A
Net rental rate per square foot – Small Shops
$10.00 to $45.00
$20.00 to $45.00
$30.00 to $65.00
Discount rate
7.50%
8.50%
8.50%
v3.25.4
DISPOSITIONS AND IMPAIRMENT CHARGES (Tables)
 12 Months Ended
Dec. 31, 2025
Discontinued Operations and Disposal Groups [Abstract]  
Schedule of Disposal Groups
The Company closed on the following dispositions of operating properties during the years ended December 31, 2025, 2024 and 2023 (dollars in thousands):
DateProperty NameMSAProperty TypeSquare
Footage		Sales PriceGain (Loss)
2025
April 4, 2025Stoney Creek CommonsIndianapolisMulti-tenant retail84,094 $9,500 $4,802 
June 25, 2025Fullerton MetrocenterLos AngelesMulti-tenant retail241,027 118,500 20,294 
June 27, 2025
Denton Crossing(1)
Dallas/Ft. WorthMulti-tenant retail343,345 81,593 35,626 
June 27, 2025
Parkway Towne Crossing(1)
Dallas/Ft. WorthMulti-tenant retail180,736 57,653 18,133 
June 27, 2025
The Landing at Tradition(1)
Port St. LucieMulti-tenant retail397,199 93,754 23,639 
July 21, 2025
Humblewood Shopping Center(2)
HoustonMulti-tenant retail85,682 18,250 5,890 
October 10, 2025DePauw University Bookstore and CaféIndianapolisSingle-user retail11,974 600 413 
November 20, 2025
Paradise Valley Marketplace(2)
PhoenixMulti-tenant retail80,951 45,000 9,269 
December 8, 2025Belle Isle StationOklahoma CityMulti-tenant retail196,158 45,000 11,727 
December 8, 2025
Central Texas Marketplace(2)
WacoMulti-tenant retail429,653 81,500 40,216 
December 8, 2025
International Speedway Square(2)
Daytona BeachMulti-tenant retail240,251 32,900 15,399 
December 8, 2025
Pavilion at King’s Grant(2)
CharlotteMulti-tenant retail303,212 64,450 27,790 
December 8, 2025
Peoria Crossing(2)
PhoenixMulti-tenant retail238,004 46,500 16,391 
December 8, 2025
Portofino Shopping Center(2)
HoustonMulti-tenant retail342,863 101,200 48,977 
December 8, 2025
Shops at Park Place(2)
Dallas/Ft. WorthMulti-tenant retail137,605 30,750 8,456 
December 8, 2025
Watauga Pavilion(2)
Dallas/Ft. WorthMulti-tenant retail205,643 26,700 1,843 
3,518,397 $853,850 $288,865 
2024
May 31, 2024Ashland & RooseveltChicagoMulti-tenant retail104,176 $30,600 $(1,234)
2023
May 8, 2023Kingwood CommonsHoustonMulti-tenant retail158,172 $27,350 $4,736 
June 8, 2023Pan Am Plaza & GarageIndianapolisLand & garage— 52,025 23,638 
September 11, 2023Reisterstown Road PlazaBaltimoreMulti-tenant retail & office376,683 48,250 (5,773)
October 24, 2023EastsideDallas/Ft. WorthMulti-tenant retail & office43,640 14,425 — 
578,495 $142,050 $22,601 
(1)The Company has retained a 52% noncontrolling interest in this property.
(2)As of December 31, 2025, disposition proceeds related to this property are temporarily restricted related to a potential 1031 Exchange.
The following table presents the assets and liabilities associated with Coram Plaza and City Center, the investment properties classified as held for sale as of December 31, 2025. In addition, City Center was classified as held for sale as of December 31, 2024 (in thousands):
December 31, 2025December 31, 2024
Assets:
Investment properties, net$64,899 $68,991 
Tenant and other receivables2,676 1,760 
Restricted cash and escrow deposits25 225 
Deferred costs, net3,088 2,634 
Prepaid and other assets417 181 
Assets associated with investment properties held for sale$71,105 $73,791 
Liabilities:
Accounts payable and accrued expenses$811 $544 
Deferred revenue and other liabilities3,503 3,465 
Liabilities associated with investment properties held for sale$4,314 $4,009 
v3.25.4
INVESTMENTS IN UNCONSOLIDATED JOINT VENTURES (Tables)
 12 Months Ended
Dec. 31, 2025
Equity Method Investments and Joint Ventures [Abstract]  
Schedule of Investments in Unconsolidated Joint Ventures
The following table summarizes the Company’s investments in unconsolidated joint ventures as of December 31, 2025 and 2024 (dollars in thousands):
Date of InvestmentOwnership InterestInvestment at
Joint VentureDecember 31, 2025December 31, 2024
Embassy Suites at Eddy Street Commons(1)
December 201735%$8,797 $9,514 
Nuveen Portfolio Joint Venture(2)
June 201820%5,552 5,951 
Glendale Multifamily Joint Venture(3)
May 202011.5%409 536 
The Corner – IN Joint Venture(4)
September 202150%— 1,010 
Legacy West Joint VentureApril 202552%230,093 — 
Seed Asset Joint VentureJune 202552%117,056 — 
Other investments2,500 2,500 
$364,407 $19,511 
(1)The Company formed a joint venture with an unrelated third party to develop and own an Embassy Suites hotel next to Eddy Street Commons, our operating retail property at the University of Notre Dame. The Company contributed $1.4 million in cash to the joint venture in return for a 35% ownership interest. In 2017, the joint venture entered into a $33.8 million construction loan, which was repaid during the year ended December 31, 2025, of which the Company contributed $10.2 million, representing our 35% share of the debt repaid.
(2)The Company formed a joint venture with Nuveen Real Estate, formerly known as TH Real Estate, and contributed three properties (Livingston Shopping Center, Plaza Volente, and Tamiami Crossing) to the joint venture, valued at $99.8 million in the aggregate, and, after considering third-party debt obtained by the joint venture upon formation, the Company contributed $10.0 million for a 20% noncontrolling ownership interest in the joint venture. The Company is the operating member of the joint venture and earns fees for providing property management and leasing services.
(3)The Company formed a joint venture with an unrelated third party for the planned development of a multifamily project adjacent to Glendale Town Center, our operating retail property in the Indianapolis MSA. The Company contributed land valued at $1.6 million to the joint venture and retained an 11.5% ownership interest in the joint venture. The Company’s partner is the operating member of the joint venture.
(4)The Company formed a joint venture with an unrelated third party for the planned redevelopment of The Corner in the Indianapolis MSA into a mixed-use, multifamily, and retail project. The Company contributed land valued at $4.0 million to the joint venture and retained a 50% ownership interest in the joint venture. During the three months ended March 31, 2025, we completed major development construction activities at The Corner – IN and reclassified the property from active development into our operating portfolio in March 2025.
v3.25.4
SHARE-BASED COMPENSATION (Tables)
 12 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Restricted Share/LTIP Unit Activity
The following table summarizes the activity for the restricted shares that were granted to the Company’s employees and Board of Trustees for the year ended December 31, 2025:
 Number of
Restricted Shares		Weighted Average
Grant Date Fair
Value per Share
Restricted shares outstanding as of January 1, 2025385,236 $21.37 
Shares granted242,980 22.97 
Shares forfeited(19,128)22.24 
Shares vested(219,580)20.26 
Restricted shares outstanding as of December 31, 2025389,508 $22.32 
The following table summarizes the restricted share grants and vestings during the years ended December 31, 2025, 2024 and 2023 (dollars in thousands, except share and per share data):
Number of
Restricted Shares Granted		Weighted Average
Grant Date Fair
Value per Share		Fair Value of
Restricted Shares Vested
2025242,980 $22.97 $3,324 
2024256,134 $21.20 $3,736 
2023229,551 $21.45 $3,936 
The following table summarizes the activity for the LTIP Units that were granted to the Company’s named executive officers for the year ended December 31, 2025:
 Number of
LTIP Units		Weighted Average
Grant Date Fair
Value per Unit
LTIP Units outstanding as of January 1, 2025410,709 $16.43 
LTIP Units granted198,039 18.81 
LTIP Units vested(226,779)15.86 
LTIP Units outstanding as of December 31, 2025381,969 $18.00 
The following table summarizes the LTIP Unit grants and vestings during the years ended December 31, 2025, 2024 and 2023 (dollars in thousands, except unit and per unit data):
Number of
LTIP Units Granted		Weighted Average
Grant Date Fair
Value per Unit		Fair Value of
LTIP Units Vested
2025198,039 $18.81 $5,197 
2024194,136 $16.99 $4,270 
2023163,515 $17.45 $3,740 
v3.25.4
DEFERRED COSTS AND INTANGIBLES, NET (Tables)
 12 Months Ended
Dec. 31, 2025
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
Schedule of Deferred Costs As of December 31, 2025 and 2024, deferred costs consisted of the following (in thousands):
December 31, 2025December 31, 2024
Acquired lease intangible assets$260,108 $357,674 
Deferred leasing costs and other91,550 89,762 
 351,658 447,436 
Less: accumulated amortization(167,017)(206,589)
$184,641 $240,847 
Less: deferred costs associated with investment properties held for sale(3,088)(2,634)
Deferred costs, net$181,553 $238,213 
Schedule of Amortization of Acquired Lease Intangible Assets
The estimated net amounts of amortization of acquired lease intangible assets for properties owned as of December 31, 2025 for each of the next five years and thereafter are as follows (in thousands):
Amortization of
Above-Market Leases		Amortization of
Acquired Lease Intangible Assets		Total
2026$4,201 $27,023 $31,224 
20272,965 18,230 21,195 
20282,006 14,269 16,275 
2029992 10,154 11,146 
2030740 7,566 8,306 
Thereafter738 18,273 19,011 
Total$11,642 $95,515 $107,157 
Schedule of Deferred Cost Amortization The amounts of such amortization included in the accompanying consolidated statements of operations and comprehensive income (loss) are as follows (in thousands):
Year Ended December 31,
202520242023
Amortization of deferred leasing costs, lease intangibles and other$60,740 $77,224 $107,542 
Amortization of above-market lease intangibles$7,861 $9,479 $12,007 
The following amounts of amortization of debt issuance costs are included as a component of “Interest expense” in the accompanying consolidated statements of operations and comprehensive income (loss) (in thousands):
Year Ended December 31,
202520242023
Amortization of debt issuance costs$6,868 $4,650 $3,609 
v3.25.4
DEFERRED REVENUE, INTANGIBLES, NET AND OTHER LIABILITIES (Tables)
 12 Months Ended
Dec. 31, 2025
Other Liabilities Disclosure [Abstract]  
Schedule of Deferred Revenue and Other Liabilities
As of December 31, 2025 and 2024, deferred revenue, intangibles, net and other liabilities consisted of the following (in thousands):
December 31, 2025December 31, 2024
Unamortized in-place lease liabilities$110,038 $142,035 
Retainage payables and other18,479 8,317 
Tenant rents received in advance31,456 32,176 
Lease liabilities65,343 67,037 
$225,316 $249,565 
Less: deferred revenue associated with investment properties held for sale(3,503)(3,465)
Deferred revenue and other liabilities$221,813 $246,100 
Schedule of Amortization of In-Place Lease Liabilities
The estimated net amounts of amortization of in-place lease liabilities and the resulting increase in minimum rent for properties owned as of December 31, 2025 for each of the next five years and thereafter are as follows (in thousands):
2026$10,859 
20278,560 
20287,981 
20296,827 
20306,174 
Thereafter69,637 
Total$110,038 
v3.25.4
MORTGAGE AND OTHER INDEBTEDNESS (Tables)
 12 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
Schedule of Indebtedness
The following table summarizes the Company’s indebtedness as of December 31, 2025 and 2024 (in thousands):
December 31, 2025December 31, 2024
Mortgages payable$142,937 $148,185 
Senior unsecured notes2,250,000 2,380,000 
Unsecured term loans550,000 700,000 
Unsecured revolving line of credit85,000 — 
3,027,937 3,228,185 
Unamortized discounts and premiums, net18,394 22,191 
Unamortized debt issuance costs, net(20,853)(23,446)
Mortgage and other indebtedness, net$3,025,478 $3,226,930 
The following table summarizes the Company’s senior unsecured notes and exchangeable senior notes (dollars in thousands):
December 31, 2025December 31, 2024
Maturity DateBalanceInterest RateBalanceInterest Rate
Senior notes – 4.00% due 2025
March 15, 2025$— —%$350,000 4.00%
Senior notes – 4.47% due 2025(1)
September 10, 2025— —%80,000 7.70%
Senior notes – 4.08% due 2026
September 30, 2026100,000 4.08%100,000 4.08%
Senior notes – 4.00% due 2026
October 1, 2026300,000 4.00%300,000 4.00%
Senior exchangeable notes – 0.75% due 2027
April 1, 2027175,000 0.75%175,000 0.75%
Senior notes – 4.57% due 2027(2)
September 10, 202775,000 4.57%75,000 7.80%
Senior notes – 4.24% due 2028
December 28, 2028100,000 4.24%100,000 4.24%
Senior notes – 4.82% due 2029
June 28, 2029100,000 4.82%100,000 4.82%
Senior notes – 4.75% due 2030
September 15, 2030400,000 4.75%400,000 4.75%
Senior notes – 4.95% due 2031
December 15, 2031350,000 4.95%350,000 4.95%
Senior notes – 5.20% due 2032
August 15, 2032300,000 5.20%— —%
Senior notes – 5.50% due 2034(3)
March 1, 2034350,000 4.60%350,000 4.60%
Total senior unsecured notes$2,250,000 $2,380,000 
(1)As of December 31, 2024, $80,000 of 4.47% senior unsecured notes due 2025 had been swapped to a variable rate of three-month SOFR plus 3.65% through September 10, 2025.
(2)As of December 31, 2024, $75,000 of 4.57% senior unsecured notes due 2027 had been swapped to a variable rate of three-month SOFR plus 3.75% through September 10, 2025.
(3)The coupon rate is 5.50%; however, as a result of hedging activities, the Company’s interest rate is 4.60%.
The following table summarizes the Company’s term loans and revolving line of credit (dollars in thousands):
December 31, 2025December 31, 2024
Maturity DateBalanceInterest RateBalanceInterest Rate
Unsecured term loan due 2026 – fixed rate(1)
July 17, 2026$— —%$150,000 2.73%
Unsecured term loan due 2027 – fixed rate(2)
October 24, 2027250,000 4.72%250,000 3.94%
Unsecured term loan due 2029 – fixed rate(3)
July 29, 2029300,000 3.54%300,000 3.72%
Total unsecured term loans$550,000 $700,000 
Unsecured credit facility revolving line of credit –
variable rate(4)
October 3, 2028$85,000 4.92%$— 5.64%
(1)As of December 31, 2024, $150,000 of SOFR-based variable rate debt had been swapped to a fixed rate of 1.68% plus a credit spread based on a ratings grid ranging from 0.75% to 1.60% through July 17, 2026. The applicable credit spread was 1.05% as of December 31, 2024. The $150M Term Loan was repaid in June 2025 and the related interest rate swaps were assigned to the $300M Term Loan effective August 1, 2025.
(2)As of December 31, 2024, $250,000 of SOFR-based variable rate debt had been swapped to a fixed rate of 2.99% plus a credit spread based on a ratings grid ranging from 0.75% to 1.60% through October 24, 2025. The applicable credit spread was 0.95% as of December 31, 2024. The maturity date of the term loan may be extended by one one-year period at the Operating Partnership’s election, subject to certain conditions.
(3)As of December 31, 2025, $150,000 of the $300,000 SOFR-based variable rate debt has been swapped to a fixed rate of 1.68% plus a credit spread based on a ratings grid ranging from 0.75% to 1.60% through July 17, 2026. The applicable credit spread was 0.85% as of December 31, 2025. The interest rate shown is the weighted average rate as of December 31, 2025. As of December 31, 2024, $300,000 of SOFR-based variable rate debt had been swapped to a fixed rate of 2.47% plus a credit spread based on a ratings grid ranging from 1.15% to 2.20% through August 1, 2025. The applicable credit spread was 1.25% as of December 31, 2024.
(4)The revolving line of credit can be extended for either one one-year period or up to two six-month periods at the Company’s election, subject to (i) customary representations and warranties, including, but not limited to, the absence of an event of default as defined in the unsecured credit agreement and (ii) payment of an extension fee equal to 0.075% of the revolving line of credit capacity.
Schedule of Weighted Average Interest Rates and Maturities
Consolidated indebtedness, including weighted average interest rates and weighted average maturities as of December 31, 2025, considering the impact of interest rate swaps, is summarized below (dollars in thousands):
Amount
Outstanding		RatioWeighted Average
Interest Rate		Weighted
Average Years to Maturity
Fixed rate debt(1)
$2,530,737 84%4.28%4.5
Variable rate debt497,200 16%4.73%2.5
Debt discounts, premiums and issuance costs, net(2,459)N/AN/AN/A
Mortgage and other indebtedness, net$3,025,478 100%4.36%4.2
(1)Fixed rate debt includes the portion of variable rate debt that has been hedged by interest rate swaps. As of December 31, 2025, $150.0 million in variable rate debt is hedged to a fixed rate through July 17, 2026.
Schedule of Mortgages Payable
The following table summarizes the Company’s mortgages payable (dollars in thousands):
December 31, 2025December 31, 2024
BalanceWeighted Average
Interest Rate		Weighted Average Years
to Maturity		BalanceWeighted Average
Interest Rate		Weighted Average Years
to Maturity
Fixed rate mortgages payable(1)
$130,737 5.11%6.2$133,585 5.10%7.1
Variable rate mortgage payable(2)
12,200 5.84%0.614,600 6.48%1.6
Total mortgages payable$142,937 $148,185 
(1)The fixed rate mortgages had interest rates ranging from 3.75% to 5.73% as of December 31, 2025 and 2024.
(2)The interest rate on the variable rate mortgage is based on the Secured Overnight Financing Rate (“SOFR”) plus 215 basis points. The one-month SOFR rate was 3.69% and 4.33% as of December 31, 2025 and 2024, respectively.
Schedule of Key Terms of Revolving Credit Facility and Term Loans
The following table summarizes the key terms of the Revolving Facility as of December 31, 2025 (dollars in thousands):
Leverage-Based PricingInvestment-Grade Pricing
Credit AgreementMaturity DateExtension OptionsExtension FeeCredit SpreadFacility FeeCredit SpreadFacility Fee
$1,100,000 unsecured revolving line of credit
October 3, 2028
1 one-year or 2 six-month
0.075%
1.05%–1.50%
0.15%–0.30%
0.725%–1.40%
0.125%–0.30%
The following table summarizes the key terms of the unsecured term loans as of December 31, 2025 (dollars in thousands):
Unsecured Term LoansMaturity DateInvestment-Grade Pricing
Credit Spread
$250,000 unsecured term loan due 2027
October 24, 2027(1)
0.75% – 1.60%
$300,000 unsecured term loan due 2029
July 29, 2029
0.75% – 1.60%
(1)The maturity date may be extended by one one-year period at the Operating Partnership’s option, subject to certain conditions.
Schedule of Deferred Cost Amortization The amounts of such amortization included in the accompanying consolidated statements of operations and comprehensive income (loss) are as follows (in thousands):
Year Ended December 31,
202520242023
Amortization of deferred leasing costs, lease intangibles and other$60,740 $77,224 $107,542 
Amortization of above-market lease intangibles$7,861 $9,479 $12,007 
The following amounts of amortization of debt issuance costs are included as a component of “Interest expense” in the accompanying consolidated statements of operations and comprehensive income (loss) (in thousands):
Year Ended December 31,
202520242023
Amortization of debt issuance costs$6,868 $4,650 $3,609 
Schedule of Debt Discounts, Premiums and Hedge Instruments Amortization The following amounts of amortization are included as a component of “Interest expense” in the accompanying consolidated statements of operations and comprehensive income (loss) (in thousands):
Year Ended December 31,
202520242023
Amortization of debt discounts, premiums and hedge instruments$7,221 $13,592 $19,503 
Schedule of Debt Discounts, Premiums and Hedge Instruments Amortization Maturity
In addition, the estimated amounts of the reduction to interest expense as of December 31, 2025 for each of the next five years and thereafter related to the amortization of debt discounts, premiums and assumed hedge instruments, assuming these instruments are held to maturity, are as follows (in thousands):
2026$5,786 
20274,709 
20284,699 
20293,773 
20302,031 
Thereafter(2,084)
Total unamortized debt discounts, premiums and hedge instruments$18,914 
Schedule of Reconciliation of Unamortized Debt Discounts, Premiums and Hedge Instruments
The following table reconciles total unamortized debt discounts, premiums and hedge instruments as of December 31, 2025 to the balance of unamortized discounts and premiums, net (in thousands):
Unamortized discounts and premiums on mortgages payable and senior unsecured notes$18,394 
Unamortized hedge instruments520 
Total unamortized debt discounts, premiums and hedge instruments18,914 
Unamortized hedge instruments (included in accumulated other comprehensive income)(520)
Unamortized discounts and premiums, net$18,394 
Schedule of Maturities of Long-term Debt
The following table summarizes the scheduled maturities and principal amortization of the Company’s consolidated indebtedness as of December 31, 2025 (in thousands):
Secured Debt
Scheduled
Principal Payments		Term
Maturities		Unsecured DebtTotal
2026$4,581 $10,600 $400,000 $415,181 
20272,662 19,906 500,000 522,568 
20282,943 — 185,000 187,943 
20293,474 — 400,000 403,474 
20302,936 100 400,000 403,036 
Thereafter3,186 92,549 1,000,000 1,095,735 
 $19,782 $123,155 $2,885,000 $3,027,937 
Debt discounts, premiums and issuance costs, net (2,459)
Mortgage and other indebtedness, net  $3,025,478 
v3.25.4
DERIVATIVE INSTRUMENTS, HEDGING ACTIVITIES AND OTHER COMPREHENSIVE INCOME (Tables)
 12 Months Ended
Dec. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Terms and Fair Values of Derivative Instruments
The following table summarizes the terms and fair values of the Company’s derivative financial instruments that were designated and qualified as part of a hedging relationship as of December 31, 2025 and 2024 (dollars in thousands):
Fair Value Assets (Liabilities)(1)
Type of HedgeNumber of InstrumentsAggregate NotionalReference RateInterest RateEffective DateMaturity DateDecember 31, 2025December 31, 2024
Cash FlowFour$— SOFR2.99%12/1/202210/24/2025$— $2,307 
Cash FlowTwo— SOFR2.66%8/1/20228/1/2025— 884 
Cash FlowTwo— SOFR2.37%11/22/20238/1/2025— 2,101 
Cash Flow(2)
Three150,000 SOFR1.68%8/15/20227/17/20261,503 5,316 
$150,000 $1,503 $10,608 
Fair Value(3)
Two$— SOFR
SOFR + 3.70%
4/23/20219/10/2025$— $(3,937)
(1)Derivatives in an asset position are included within “Prepaid and other assets” and derivatives in a liability position are included within “Accounts payable and accrued expenses” in the accompanying consolidated balance sheets.
(2)These interest rate swaps were assigned to the Company’s $300M Term Loan effective August 1, 2025.
(3)The derivative agreements swapped a blended fixed rate of 4.52% for a blended floating rate of three-month SOFR plus 3.70% through September 10, 2025.
v3.25.4
LEASE INFORMATION (Tables)
 12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Schedule of Rental Income Related to Operating Leases
Rental income related to the Company’s operating leases is comprised of the following for the years ended December 31, 2025, 2024 and 2023 (in thousands):
Year Ended December 31,
202520242023
Fixed contractual lease payments – operating leases$659,955 $653,537 $637,915 
Variable lease payments – operating leases160,000 156,200 151,853 
Bad debt reserve(7,838)(5,356)(3,459)
Straight-line rent adjustments11,341 12,742 13,186 
Straight-line rent reserve for uncollectibility(987)(653)(1,374)
Amortization of in-place lease liabilities, net8,300 10,078 12,025 
Rental income$830,771 $826,548 $810,146 
Schedule of Future Minimum Lease Payments to be Received
As of December 31, 2025, the future minimum rentals to be received under non-cancelable operating leases, excluding variable lease payments and amounts deferred under lease concession agreements, for each of the next five years and thereafter are as follows (in thousands):
Lease Payments
2026$605,363 
2027561,582 
2028484,444 
2029393,729 
2030319,166 
Thereafter995,735 
Total$3,360,019 
Schedule of Future Minimum Lease Payments under Ground Leases
As of December 31, 2025, the future minimum lease payments due under ground leases for each of the next five years and thereafter are as follows (in thousands):
Lease Obligations
2026$5,238 
20275,283 
20285,063 
20295,018 
20305,325 
Thereafter95,918 
$121,845 
Adjustment for discounting(56,502)
Lease liabilities as of December 31, 2025$65,343 
v3.25.4
SEGMENT REPORTING (Tables)
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment
The following table presents information on the Company’s reported segment revenue, net operating income, and significant segment expenses that are provided to the CODM and included within the Company’s single reportable operating segment measure of profit or loss:
Year Ended December 31,
202520242023
Revenue:
Minimum rent$655,575 $650,331 $642,255 
Tenant reimbursements177,015 174,510 163,877 
Bad debt reserve(7,838)(5,356)(3,459)
Other property-related revenue7,192 4,424 4,754 
Overage rent6,019 7,063 7,473 
Total revenue837,963 830,972 814,900 
Expenses:
Property operating – recoverable99,372 96,894 90,180 
Property operating – non-recoverable15,291 15,455 16,348 
Real estate taxes103,819 103,301 101,780 
Total expenses218,482 215,650 208,308 
Net operating income619,481 615,322 606,592 
Other (expense) income:
Net gains from outlot sales6,096 4,363 1,662 
Other general and administrative expenses(55,459)(52,558)(56,142)
Fee income4,240 4,663 4,366 
Impairment charges(51,849)(66,201)(477)
Depreciation and amortization(373,287)(393,335)(426,361)
Interest expense(132,577)(125,691)(105,349)
Equity in (loss) earnings of unconsolidated subsidiaries(11,650)(1,158)33 
Gain on sale of unconsolidated property, net— 2,325 — 
Income tax expense of taxable REIT subsidiaries(467)(139)(533)
Loss on extinguishment of debt— (180)— 
Other income, net9,038 17,869 1,991 
Gain (loss) on sales of operating properties, net291,962 (864)22,601 
Net income305,528 4,416 48,383 
Net income attributable to noncontrolling interests(6,865)(345)(885)
Net income attributable to common shareholders$298,663 $4,071 $47,498 
v3.25.4
EARNINGS PER SHARE OR UNIT (Tables)
 12 Months Ended
Dec. 31, 2025
Earnings Per Share [Abstract]  
Schedule of Earnings per Share, Basic and Diluted
The following table summarizes the calculation of basic and diluted earnings per share for the Parent Company for the years ended December 31, 2025, 2024 and 2023. We have omitted the calculation of basic and diluted earnings per unit since the dilutive securities for the Operating Partnership are the same as those for the Parent Company (dollars in thousands, except per share data):
Year Ended December 31,
202520242023
Numerator:
Net income attributable to common shareholders – basic and diluted$298,663 $4,071 $47,498 
Denominator:
Weighted average common shares outstanding – basic218,310,451 219,614,149 219,344,832 
Effect of dilutive securities:
AO LTIP Units38,404 43,331 325,603 
Deferred common share units80,618 70,016 57,848 
Exchangeable Notes— — — 
Weighted average common shares outstanding – diluted218,429,473 219,727,496 219,728,283 
Net income per common share – basic$1.37 $0.02 $0.22 
Net income per common share – diluted$1.37 $0.02 $0.22 
v3.25.4
ORGANIZATION AND BASIS OF PRESENTATION - Additional Information (Details)
 12 Months Ended
Dec. 31, 2025
General Partner Units  
Organization [Line Items]  
General partner, ownership interest (as a percent) 97.70%
Kite Realty Group, L.P.  
Organization [Line Items]  
Limited partner, ownership interest (as a percent) 2.30%
v3.25.4
ORGANIZATION AND BASIS OF PRESENTATION - Schedule of Real Estate Properties (Details)
Dec. 31, 2025
ft²
property
Real Estate Properties [Line Items]  
Number of real estate properties 167
Area of real estate property | ft² 26,880,082
Eastgate Crossing  
Real Estate Properties [Line Items]  
Area of real estate property | ft² 152,682
Operating retail/mixed-use properties  
Real Estate Properties [Line Items]  
Number of real estate properties 159
Area of real estate property | ft² 24,733,200
Operating retail/mixed-use properties – unconsolidated joint ventures  
Real Estate Properties [Line Items]  
Number of real estate properties 8
Area of real estate property | ft² 2,146,882
Standalone office properties  
Real Estate Properties [Line Items]  
Number of real estate properties 2
Area of real estate property | ft² 412,812
Development and Redevelopment Projects | One Loudoun Expansion  
Real Estate Properties [Line Items]  
Number of real estate properties 0
Area of real estate property | ft² 119,000
Development and Redevelopment Projects | Hamilton Crossing Centre  
Real Estate Properties [Line Items]  
Number of real estate properties 1
Area of real estate property | ft² 0
Development and Redevelopment Projects | Edwards Multiplex – Ontario  
Real Estate Properties [Line Items]  
Number of real estate properties 1
Area of real estate property | ft² 124,614
Operating Retail Properties with Office Components  
Real Estate Properties [Line Items]  
Number of real estate properties 10
Operating Retail Properties | Held-for-Sale  
Real Estate Properties [Line Items]  
Number of real estate properties 2
v3.25.4
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Additional Information (Details)
$ in Thousands
 1 Months Ended 12 Months Ended
Aug. 31, 2024
USD ($)
Jan. 31, 2024
USD ($)
Dec. 31, 2025
USD ($)
jointVenture
property
shares
Dec. 31, 2024
USD ($)
property
shares
Dec. 31, 2023
USD ($)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]          
Number of real estate properties held for sale | property     2 1  
Number of investments in joint ventures | jointVenture     2    
Assets of VIEs     $ 6,664,497 $ 7,091,767  
Investment in short-term deposits     0 615,000 $ 0
Net gains from outlot sales     $ 6,100 $ 4,400 $ 1,700
Provision for credit losses, net of recoveries as percent of revenue (as a percent)     0.80% 0.60% 0.30%
Limited partners' capital account, units outstanding (in shares) | shares     4,849,588 4,192,597  
Operating Partnership          
New Accounting Pronouncements or Change in Accounting Principle [Line Items]          
Noncontrolling interest, ownership percentage by parent (as a percent)     97.70% 98.10%  
Noncontrolling interest, ownership percentage by noncontrolling owners (as a percent)     2.30% 1.90%  
One Loudoun Downtown - Pads G & H Joint Venture          
New Accounting Pronouncements or Change in Accounting Principle [Line Items]          
Noncontrolling interest, ownership percentage by parent (as a percent)     90.00%    
January 2024 Deposits          
New Accounting Pronouncements or Change in Accounting Principle [Line Items]          
Investment in short-term deposits   $ 265,000      
Short-term investments, interest rate (as a percent)   5.34%      
Interest income       $ 6,300  
August 2024 Deposits          
New Accounting Pronouncements or Change in Accounting Principle [Line Items]          
Investment in short-term deposits $ 350,000        
Short-term investments, interest rate (as a percent) 5.05%        
Interest income     $ 2,500 $ 6,600  
VIE, Primary Beneficiary          
New Accounting Pronouncements or Change in Accounting Principle [Line Items]          
Mortgage debt of VIEs     107,300    
Assets of VIEs     $ 221,600    
Minimum | Building and improvements          
New Accounting Pronouncements or Change in Accounting Principle [Line Items]          
Property, plant and equipment, useful life (in years)     10 years    
Minimum | Fixtures and leasehold improvements          
New Accounting Pronouncements or Change in Accounting Principle [Line Items]          
Property, plant and equipment, useful life (in years)     5 years    
Maximum | Building and improvements          
New Accounting Pronouncements or Change in Accounting Principle [Line Items]          
Property, plant and equipment, useful life (in years)     35 years    
Maximum | Fixtures and leasehold improvements          
New Accounting Pronouncements or Change in Accounting Principle [Line Items]          
Property, plant and equipment, useful life (in years)     10 years    
v3.25.4
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Investment Properties (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Accounting Policies [Abstract]    
Land, buildings and improvements $ 6,938,588 $ 7,591,036
Construction in progress 64,891 43,155
Investment properties, at cost $ 7,003,479 $ 7,634,191
v3.25.4
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Cash, Cash Equivalents and Restricted Cash (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Accounting Policies [Abstract]        
Cash and cash equivalents $ 36,761 $ 128,056 $ 36,413  
Restricted cash and escrow deposits 441,605 5,271 5,017  
Restricted cash associated with investment property held for sale 25 225 0  
Cash, cash equivalents and restricted cash $ 478,391 $ 133,552 $ 41,430 $ 121,970
v3.25.4
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Revenue Concentration (Details) - Geographic Concentration Risk - Tenant, Lease Income
 12 Months Ended
Dec. 31, 2025
Texas  
Concentration Risk [Line Items]  
Concentration risk, percentage (as a percent) 26.10%
Florida  
Concentration Risk [Line Items]  
Concentration risk, percentage (as a percent) 11.40%
Virginia  
Concentration Risk [Line Items]  
Concentration risk, percentage (as a percent) 7.50%
New York  
Concentration Risk [Line Items]  
Concentration risk, percentage (as a percent) 7.10%
Indiana  
Concentration Risk [Line Items]  
Concentration risk, percentage (as a percent) 6.70%
v3.25.4
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Tax Characterizations of Dividends Paid (Details)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Tax Characterization [Line Items]      
Income tax characterization of dividends paid (as a percent) 100.00% 100.00% 100.00%
Ordinary income      
Income Tax Characterization [Line Items]      
Income tax characterization of dividends paid (as a percent) 83.20% 96.40% 90.60%
Return of capital      
Income Tax Characterization [Line Items]      
Income tax characterization of dividends paid (as a percent) 0.00% 0.00% 0.00%
Capital gains      
Income Tax Characterization [Line Items]      
Income tax characterization of dividends paid (as a percent) 16.80% 3.60% 9.40%
v3.25.4
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Noncontrolling Interests (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]      
Noncontrolling interests balance as of January 1, $ 1,893 $ 2,430 $ 5,370
Net income allocable to noncontrolling interests, excluding redeemable noncontrolling interests 311 280 256
Distributions to noncontrolling interests (284) (817) (3,196)
Noncontrolling interests balance as of December 31, $ 1,920 $ 1,893 $ 2,430
v3.25.4
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Weighted Average Interests in Operating Partnership (Details) - Operating Partnership
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Noncontrolling Interest [Line Items]      
Parent Company’s weighted average interest in the Operating Partnership 97.90% 98.30% 98.60%
Limited partners’ weighted average interests in the Operating Partnership 2.10% 1.70% 1.40%
v3.25.4
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Redeemable Noncontrolling Interests (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]      
Net income allocable to redeemable noncontrolling interests $ 6,865 $ 345 $ 885
Distributions declared to redeemable noncontrolling interests (284) (817) (3,196)
Redeemable Noncontrolling Interests      
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]      
Redeemable noncontrolling interests balance as of January 1, 98,074 73,287 53,967
Net income allocable to redeemable noncontrolling interests 6,554 65 629
Distributions declared to redeemable noncontrolling interests (7,355) (3,970) (3,159)
Other, net including adjustments to redemption value 18,972 28,692 21,850
Total limited partners’ interests in the Operating Partnership as of December 31, $ 116,245 $ 98,074 $ 73,287
v3.25.4
ACQUISITIONS - Schedule of Asset Acquisitions (Details)
$ in Thousands
 12 Months Ended
Apr. 28, 2025
USD ($)
ft²
unit
Jan. 15, 2025
USD ($)
ft²
Aug. 30, 2024
USD ($)
ft²
Sep. 22, 2023
USD ($)
ft²
Dec. 31, 2025
USD ($)
ft²
Asset Acquisition [Line Items]          
Area of real estate property         26,880,082
Legacy West Joint Venture          
Asset Acquisition [Line Items]          
Ownership percentage in equity method investment (as a percent) 52.00%       52.00%
Office          
Asset Acquisition [Line Items]          
Area of real estate property         412,812
Village Commons          
Asset Acquisition [Line Items]          
Area of real estate property   170,976      
Acquisition price | $   $ 68,400      
Village Commons | Kite Realty Group, L.P.          
Asset Acquisition [Line Items]          
Ownership interest (as a percent)   100.00%      
Legacy West          
Asset Acquisition [Line Items]          
Area of real estate property 342,011        
Acquisition price | $ $ 408,200        
Legacy West | Legacy West Joint Venture          
Asset Acquisition [Line Items]          
Acquisition price | $ $ 785,000        
Ownership percentage in equity method investment (as a percent) 52.00%        
Legacy West | Office | Legacy West Joint Venture          
Asset Acquisition [Line Items]          
Area of real estate property 443,553        
Legacy West | Multifamily | Legacy West Joint Venture          
Asset Acquisition [Line Items]          
Number of multifamily rental units | unit 782        
2025 Asset Acquisitions          
Asset Acquisition [Line Items]          
Area of real estate property         512,987
Acquisition price | $         $ 476,600
Parkside West Cobb          
Asset Acquisition [Line Items]          
Area of real estate property     141,627    
Acquisition price | $     $ 40,125    
Parkside West Cobb | Kite Realty Group, L.P.          
Asset Acquisition [Line Items]          
Ownership interest (as a percent)     100.00%    
Prestonwood Place          
Asset Acquisition [Line Items]          
Area of real estate property       155,975  
Acquisition price | $       $ 81,000  
Prestonwood Place | Kite Realty Group, L.P.          
Asset Acquisition [Line Items]          
Ownership interest (as a percent)       100.00%  
v3.25.4
ACQUISITIONS - Additional Information (Details) - USD ($)
$ in Thousands
Apr. 28, 2025
Dec. 31, 2025
Asset Acquisition [Line Items]    
Share of purchase price   $ 120,900
Legacy West Joint Venture    
Asset Acquisition [Line Items]    
Ownership percentage in equity method investment (as a percent) 52.00% 52.00%
Legacy West    
Asset Acquisition [Line Items]    
Acquisition price $ 408,200  
Legacy West | Legacy West Joint Venture    
Asset Acquisition [Line Items]    
Acquisition price $ 785,000  
Ownership percentage in equity method investment (as a percent) 52.00%  
Share of purchase price $ 408,200  
Proceeds from unsecured revolving line of credit 255,000  
Legacy West | Legacy West Joint Venture | Mortgages payable    
Asset Acquisition [Line Items]    
Debt assumed $ 304,000  
Stated interest rate (as a percent) 3.80%  
v3.25.4
ACQUISITIONS - Schedule of Assets Acquired and Liabilities Assumed (Details) - Asset Acquisitions - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Assets:      
Investment properties, net $ 62,154 $ 38,080 $ 75,506
Tenant and other receivables, net 0 18 0
Lease-related intangible assets, net 7,829 4,607 6,971
Total acquired assets 69,983 42,705 82,477
Liabilities:      
Accounts payable and accrued expenses 0 664 2,823
Deferred revenue and other liabilities 1,517 2,496 1,556
Total assumed liabilities 1,517 3,160 4,379
Fair value of net assets acquired $ 68,466 $ 39,545 $ 78,098
Lease Agreements      
Liabilities:      
Weighted average amortization period (in years) 6 years 1 month 6 days 6 years 1 month 6 days 6 years 2 months 12 days
v3.25.4
ACQUISITIONS - Schedule of Level 3 Assumptions Used in Determining Value of Acquired Assets (Details) - Fair Value, Inputs, Level 3 - Valuation, Income Approach - Asset Acquisitions
 12 Months Ended
Dec. 31, 2025
$ / ft²
Dec. 31, 2024
$ / ft²
Dec. 31, 2023
$ / ft²
Net rental rate per square foot – Retail Anchors (in dollars per share) | Minimum      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Measurement input 15.50 18.75  
Net rental rate per square foot – Retail Anchors (in dollars per share) | Maximum      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Measurement input   19.00  
Net rental rate per square foot – Small Shops (in dollars per share) | Minimum      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Measurement input 10.00 20.00 30.00
Net rental rate per square foot – Small Shops (in dollars per share) | Maximum      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Measurement input 45.00 45.00 65.00
Discount rate      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Measurement input 0.0750 0.0850 0.0850
v3.25.4
DISPOSITIONS AND IMPAIRMENT CHARGES - Schedule of Property Dispositions (Details)
$ in Thousands
 12 Months Ended
Dec. 08, 2025
USD ($)
ft²
Nov. 20, 2025
USD ($)
ft²
Oct. 10, 2025
USD ($)
ft²
Jul. 21, 2025
USD ($)
ft²
Jun. 27, 2025
USD ($)
ft²
Jun. 25, 2025
USD ($)
ft²
Apr. 04, 2025
USD ($)
ft²
May 31, 2024
USD ($)
ft²
Oct. 24, 2023
USD ($)
ft²
Sep. 11, 2023
USD ($)
ft²
Jun. 08, 2023
USD ($)
ft²
May 08, 2023
USD ($)
ft²
Dec. 31, 2025
USD ($)
ft²
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
ft²
Jun. 30, 2025
USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                                
Square Footage | ft²                         26,880,082      
Seed Asset Joint Venture                                
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                                
Sales price                               $ 233,000
Ownership percentage in equity method investment (as a percent)                         52.00%     52.00%
Disposed of by sale                                
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                                
Gain (loss) [Extensible Enumeration]                         Gain (loss) on sales of operating properties, net      
Square Footage | ft²                         3,518,397   578,495  
Sales price                         $ 853,850   $ 142,050  
Gain (Loss)                         $ 288,865   $ 22,601  
Disposed of by sale | Stoney Creek Commons                                
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                                
Square Footage | ft²             84,094                  
Sales price             $ 9,500                  
Gain (Loss)             $ 4,802                  
Disposed of by sale | Fullerton Metrocenter                                
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                                
Square Footage | ft²           241,027                    
Sales price           $ 118,500                    
Gain (Loss)           $ 20,294                    
Disposed of by sale | Denton Crossing                                
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                                
Square Footage | ft²         343,345                      
Sales price         $ 81,593                      
Gain (Loss)         $ 35,626                      
Disposed of by sale | Parkway Towne Crossing                                
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                                
Square Footage | ft²         180,736                      
Sales price         $ 57,653                      
Gain (Loss)         $ 18,133                      
Disposed of by sale | The Landing at Tradition                                
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                                
Square Footage | ft²         397,199                      
Sales price         $ 93,754                      
Gain (Loss)         $ 23,639                      
Disposed of by sale | Humblewood Shopping Cente                                
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                                
Square Footage | ft²       85,682                        
Sales price       $ 18,250                        
Gain (Loss)       $ 5,890                        
Disposed of by sale | De Pauw University Bookstore & Cafe                                
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                                
Square Footage | ft²     11,974                          
Sales price     $ 600                          
Gain (Loss)     $ 413                          
Disposed of by sale | Paradise Valley Marketplace                                
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                                
Square Footage | ft²   80,951                            
Sales price   $ 45,000                            
Gain (Loss)   $ 9,269                            
Disposed of by sale | Belle Isle Station                                
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                                
Square Footage | ft² 196,158                              
Sales price $ 45,000                              
Gain (Loss) $ 11,727                              
Disposed of by sale | Central Texas Marketplace                                
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                                
Square Footage | ft² 429,653                              
Sales price $ 81,500                              
Gain (Loss) $ 40,216                              
Disposed of by sale | International Speedway Square                                
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                                
Square Footage | ft² 240,251                              
Sales price $ 32,900                              
Gain (Loss) $ 15,399                              
Disposed of by sale | Pavilion at King’s Grant                                
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                                
Square Footage | ft² 303,212                              
Sales price $ 64,450                              
Gain (Loss) $ 27,790                              
Disposed of by sale | Peoria Crossing                                
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                                
Square Footage | ft² 238,004                              
Sales price $ 46,500                              
Gain (Loss) $ 16,391                              
Disposed of by sale | Portofino Shopping Center                                
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                                
Square Footage | ft² 342,863                              
Sales price $ 101,200                              
Gain (Loss) $ 48,977                              
Disposed of by sale | Shops at Park Place                                
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                                
Square Footage | ft² 137,605                              
Sales price $ 30,750                              
Gain (Loss) $ 8,456                              
Disposed of by sale | Watauga Pavilion                                
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                                
Square Footage | ft² 205,643                              
Sales price $ 26,700                              
Gain (Loss) $ 1,843                              
Disposed of by sale | Ashland & Roosevelt                                
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                                
Square Footage | ft²               104,176                
Sales price               $ 30,600                
Gain (Loss)               $ (1,234)                
Disposed of by sale | Kingwood Commons                                
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                                
Square Footage | ft²                       158,172        
Sales price                       $ 27,350        
Gain (Loss)                       $ 4,736        
Disposed of by sale | Pan Am Plaza & Garage                                
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                                
Square Footage | ft²                     0          
Sales price                     $ 52,025          
Gain (Loss)                     $ 23,638          
Disposed of by sale | Reisterstown Road Plaza                                
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                                
Square Footage | ft²                   376,683            
Sales price                   $ 48,250            
Gain (Loss)                   $ (5,773)       $ 600    
Disposed of by sale | Eastside                                
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                                
Square Footage | ft²                 43,640              
Sales price                 $ 14,425              
Gain (Loss)                 $ 0              
v3.25.4
DISPOSITIONS AND IMPAIRMENT CHARGES - Additional Information (Details)
$ in Thousands
 3 Months Ended 12 Months Ended
Oct. 24, 2023
USD ($)
ft²
Sep. 11, 2023
USD ($)
ft²
Dec. 31, 2025
USD ($)
ft²
a
property
Sep. 30, 2025
USD ($)
a
Jun. 30, 2025
USD ($)
property
Sep. 30, 2023
USD ($)
Dec. 31, 2025
USD ($)
ft²
a
property
Dec. 31, 2024
USD ($)
unit
Dec. 31, 2023
USD ($)
ft²
Jun. 30, 2024
USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                    
Area of land | a     98       98      
Net gains from outlot sales             $ 6,096 $ 4,363 $ 1,662  
Number of real estate properties | property     167       167      
Share of purchase price     $ 120,900       $ 120,900      
Net proceeds from sales of operating properties             $ 721,823 30,409 137,687  
Square footage | ft²     26,880,082       26,880,082      
Impairment charges             $ 51,849 66,201 477  
Investment property carrying value     $ 5,347,288       $ 5,347,288 $ 6,046,530    
Carillon MOB and Retail                    
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                    
Impairment charges       $ 22,300            
Carillon MOB                    
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                    
Impairment charges       11,700            
Investment property carrying value       35,700            
Long-lived asset fair value       24,000            
Carillon retail                    
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                    
Impairment charges       10,600            
Investment property carrying value       36,100            
Long-lived asset fair value       25,500            
Development and Redevelopment Projects | One Loudoun Expansion                    
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                    
Number of real estate properties | property     0       0      
Number of residential units with rights to develop | unit               24    
Square footage | ft²     119,000       119,000      
Seed Asset Joint Venture                    
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                    
Consideration received         $ 233,000          
Number of real estate properties | property         3          
Ownership percentage in equity method investment (as a percent)     52.00%   52.00%   52.00%      
Seed Asset Joint Venture | GIC | GIC                    
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                    
Noncontrolling interest, ownership percentage by parent (as a percent)         48.00%          
Denton Crossing, Parkway Towne Crossing, and The Landing at Tradition | Seed Asset Joint Venture                    
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                    
Proceeds from sales of operating properties         $ 112,100          
Disposed of by sale                    
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                    
Consideration received     $ 853,850       $ 853,850   142,050  
Gain (loss) on disposal             $ 288,865   $ 22,601  
Square footage | ft²     3,518,397       3,518,397   578,495  
Disposed of by sale | Northpointe Plaza                    
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                    
Consideration received     $ 4,000       $ 4,000      
Gain (loss) on disposal     $ 2,600              
Disposed of by sale | Hamilton Crossing Centre                    
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                    
Consideration received       800            
Gain (loss) on disposal       $ (100)            
Area of land | a       1            
Disposed of by sale | Lakewood Towne Center                    
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                    
Consideration received       $ 13,700            
Net gains from outlot sales       6,100            
Disposed of by sale | Denton Crossing, Parkway Towne Crossing, and The Landing at Tradition | Seed Asset Joint Venture                    
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                    
Consideration received         $ 233,000          
Disposed of by sale | One Loudoun Expansion                    
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                    
Gain (loss) on disposal               $ 2,500    
Net proceeds from sales of operating properties               6,400    
Disposed of by sale | Reisterstown Road Plaza                    
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                    
Consideration received   $ 48,250                
Gain (loss) on disposal   $ (5,773)           600    
Proceeds from escrow deposit disbursements related to property sales               600    
Square footage | ft²   376,683                
Disposed of by sale | Eastside                    
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                    
Consideration received $ 14,425                  
Gain (loss) on disposal $ 0                  
Square footage | ft² 43,640                  
Held-for-Sale | Coram Plaza                    
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                    
Square footage | ft²     138,385       138,385      
Impairment charges     $ 12,500              
Disposal group assets carrying value     24,900       $ 24,900      
Held for sale assets fair value     12,500       12,500      
Selling costs     $ 100       $ 100      
Held-for-Sale | City Center                    
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                    
Square footage | ft²     362,278       362,278      
Impairment charges       17,000       $ 66,200    
Disposal group assets carrying value       71,500           $ 135,100
Held for sale assets fair value       55,000           69,600
Selling costs       $ 500           $ 700
Held-for-Sale | City Center | Minimum | Fair Value, Inputs, Level 3 | Measurement Input, Cap Rate | Valuation, Income Approach                    
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                    
Measurement input                   0.060
Held-for-Sale | City Center | Maximum | Fair Value, Inputs, Level 3 | Measurement Input, Cap Rate | Valuation, Income Approach                    
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                    
Measurement input                   0.150
Held-for-Sale | Eastside                    
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                    
Square footage | ft²                 43,640  
Impairment charges           $ 500        
Real estate investment, fair value                 $ 14,100  
v3.25.4
DISPOSITIONS AND IMPAIRMENT CHARGES - Schedule of Assets and Liabilities Associated with Investment Property Held for Sale (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Assets:    
Assets associated with investment properties held for sale $ 71,105 $ 73,791
Liabilities:    
Liabilities associated with investment properties held for sale 4,314 4,009
Held-for-Sale    
Assets:    
Investment properties, net 64,899 68,991
Tenant and other receivables 2,676 1,760
Restricted cash and escrow deposits 25 225
Deferred costs, net 3,088 2,634
Prepaid and other assets 417 181
Assets associated with investment properties held for sale 71,105 73,791
Liabilities:    
Accounts payable and accrued expenses 811 544
Deferred revenue and other liabilities 3,503 3,465
Liabilities associated with investment properties held for sale $ 4,314 $ 4,009
v3.25.4
INVESTMENTS IN UNCONSOLIDATED JOINT VENTURES - Schedule of Investments in Unconsolidated Joint Ventures (Details)
 1 Months Ended 12 Months Ended
Sep. 30, 2021
USD ($)
May 31, 2020
USD ($)
Dec. 31, 2017
USD ($)
Dec. 31, 2025
USD ($)
property
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Jun. 30, 2025
USD ($)
property
Apr. 28, 2025
Jul. 31, 2024
Jun. 30, 2018
USD ($)
property
Schedule of Equity Method Investments [Line Items]                    
Investments in unconsolidated subsidiaries       $ 364,407,000 $ 19,511,000          
Payments to acquire equity method investments       $ 253,924,000 0 $ 0        
Number of real estate properties | property       167            
Share of purchase price       $ 120,900,000            
Embassy Suites at Eddy Street Commons                    
Schedule of Equity Method Investments [Line Items]                    
Ownership Interest (as a percent)       35.00%            
Investments in unconsolidated subsidiaries       $ 8,797,000 9,514,000          
Nuveen Portfolio Joint Venture                    
Schedule of Equity Method Investments [Line Items]                    
Ownership Interest (as a percent)       20.00%            
Investments in unconsolidated subsidiaries       $ 5,552,000 5,951,000          
Number of real estate properties | property                   3
Glendale Multifamily Joint Venture                    
Schedule of Equity Method Investments [Line Items]                    
Ownership Interest (as a percent)   11.50%   11.50%            
Investments in unconsolidated subsidiaries       $ 409,000 536,000          
Glendale Multifamily Joint Venture | Land                    
Schedule of Equity Method Investments [Line Items]                    
Contribution of property   $ 1,600,000                
The Corner – IN Joint Venture                    
Schedule of Equity Method Investments [Line Items]                    
Ownership Interest (as a percent)       50.00%            
Investments in unconsolidated subsidiaries       $ 0 1,010,000          
Legacy West Joint Venture                    
Schedule of Equity Method Investments [Line Items]                    
Ownership Interest (as a percent)       52.00%       52.00%    
Investments in unconsolidated subsidiaries       $ 230,093,000 0          
Seed Asset Joint Venture                    
Schedule of Equity Method Investments [Line Items]                    
Ownership Interest (as a percent)       52.00%     52.00%      
Investments in unconsolidated subsidiaries       $ 117,056,000 0          
Number of real estate properties | property             3      
Consideration received             $ 233,000,000      
Other investments                    
Schedule of Equity Method Investments [Line Items]                    
Investments in unconsolidated subsidiaries       $ 2,500,000 $ 2,500,000          
Embassy Suites at Eddy St. Commons Joint Venture                    
Schedule of Equity Method Investments [Line Items]                    
Ownership Interest (as a percent)     35.00% 35.00%         35.00%  
Payments to acquire equity method investments     $ 1,400,000              
Repayment of construction loan       $ 10,200,000            
Embassy Suites at Eddy St. Commons Joint Venture | Construction loan payable | Co-venturer                    
Schedule of Equity Method Investments [Line Items]                    
Debt instrument, face amount     $ 33,800,000              
Three Property Retail Portfolio Joint Venture                    
Schedule of Equity Method Investments [Line Items]                    
Ownership Interest (as a percent)                   20.00%
Three Property Retail Portfolio Joint Venture | Livingston Shopping Center, Plaza Volente, and Tamiami Crossing                    
Schedule of Equity Method Investments [Line Items]                    
Consideration received                   $ 99,800,000
Share of purchase price                   $ 10,000,000
Buckingham Mixed-Use Joint Venture                    
Schedule of Equity Method Investments [Line Items]                    
Ownership Interest (as a percent) 50.00%                  
Buckingham Mixed-Use Joint Venture | Land                    
Schedule of Equity Method Investments [Line Items]                    
Contribution of property $ 4,000,000                  
v3.25.4
INVESTMENTS IN UNCONSOLIDATED JOINT VENTURES - Additional Information (Details)
$ in Thousands
 1 Months Ended 12 Months Ended
Jan. 31, 2024
USD ($)
unit
Jun. 30, 2025
USD ($)
property
jointVenture
Dec. 31, 2025
USD ($)
property
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Apr. 28, 2025
Schedule of Equity Method Investments [Line Items]            
Gain on sale of unconsolidated property, net     $ 0 $ 2,325 $ 0  
Distributions from unconsolidated joint ventures     $ 4,201 1,618 $ 0  
Number of real estate properties | property     167      
Glendale Center Apartments            
Schedule of Equity Method Investments [Line Items]            
Number of multifamily rental units | unit 267          
Gain on sale of unconsolidated property, net       2,300    
Distributions from unconsolidated joint ventures       $ 1,600    
Glendale Center Apartments | Joint Venture Owner            
Schedule of Equity Method Investments [Line Items]            
Gain on sale of unconsolidated property, net $ 20,200          
Legacy West Joint Venture            
Schedule of Equity Method Investments [Line Items]            
Ownership percentage in equity method investment (as a percent)     52.00%     52.00%
Seed Asset Joint Venture            
Schedule of Equity Method Investments [Line Items]            
Ownership percentage in equity method investment (as a percent)   52.00% 52.00%      
Number of wholly owned properties contributed to the joint venture | jointVenture   3        
Consideration for properties contributed   $ 233,000        
Number of real estate properties | property   3        
v3.25.4
SHARE-BASED COMPENSATION - Additional Information (Details)
$ in Millions
 1 Months Ended 12 Months Ended
May 11, 2022
shares
Feb. 28, 2025
USD ($)
shares
Jan. 31, 2022
shares
Dec. 31, 2027
USD ($)
Dec. 31, 2026
USD ($)
Dec. 31, 2025
USD ($)
shares
Dec. 31, 2024
USD ($)
shares
Dec. 31, 2023
USD ($)
shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Share-based compensation expense           $ 10.8 $ 10.7 $ 10.1
Share-based compensation, amount capitalized           $ 1.1 $ 1.1 $ 1.4
Options granted (in shares) | shares           0 0 0
Restricted Shares                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Compensation cost not yet recognized           $ 5.0    
Period for recognition (in years)           1 year    
Shares granted (in shares) | shares           242,980 256,134 229,551
Restricted Shares | Scenario, Forecast                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Share-based compensation expense       $ 1.6 $ 3.1      
Restricted Shares | Minimum                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Award vesting period (in years)           3 years    
Restricted Shares | Maximum                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Award vesting period (in years)           5 years    
LTIP Units                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Compensation cost not yet recognized           $ 4.1    
Period for recognition (in years)           10 months 24 days    
Shares granted (in shares) | shares           198,039 194,136 163,515
LTIP Units | Scenario, Forecast                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Share-based compensation expense       $ 1.4 $ 2.5      
AO LTIP Units                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Share-based compensation expense           $ 0.1 $ 0.8 $ 1.7
Award vesting period (in years)           5 years    
AO LTIP Units exercised (in shares) | shares           0 485,593 551,817
Consecutive trading days for appreciation threshold (in days)           20 days    
AO LTIP Units | Minimum                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Period for recognition (in years)           3 years    
AO LTIP Units | Maximum                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Period for recognition (in years)           5 years    
AO LTIP Units - 2019 Awards                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Minimum appreciation threshold for vesting (as a percent)           20.00%    
AO LTIP Units - 2021 Awards                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Minimum appreciation threshold for vesting (as a percent)           15.00%    
AO LTIP Units - 2020 Awards                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Minimum appreciation threshold for vesting (as a percent)           15.00%    
LTIP Units                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Shares granted (in shares) | shares   363,883 363,883          
Service period (in years)     3 years          
Performance component, cumulative annualized net operating income for executed new leases (as a percent)     0.60          
Performance component, post-merger cash general and administrative expense synergies (as a percent)     0.20          
Performance component, same property net operating income margin improvement (as a percent)     0.20          
Vesting percentage (as a percent)     25.00%          
Cash settled for distributions accrued   $ 1.0            
2013 Equity Incentive Plan                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Number of additional shares authorized (in shares) | shares 3,000,000              
Number of shares available for grant (in shares) | shares           3,632,531    
v3.25.4
SHARE-BASED COMPENSATION - Schedule of Restricted Share Activity (Details) - Restricted Shares - $ / shares
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Number of Restricted Shares      
Outstanding, beginning balance (in shares) 385,236    
Shares granted (in shares) 242,980 256,134 229,551
Shares forfeited (in shares) (19,128)    
Shares vested (in shares) (219,580)    
Outstanding, ending balance (in shares) 389,508 385,236  
Weighted Average Grant Date Fair Value per Share      
Outstanding, beginning balance (in dollars per share) $ 21.37    
Shares granted (in dollars per share) 22.97 $ 21.20 $ 21.45
Shares forfeited (in dollars per share) 22.24    
Shares vested (in dollars per share) 20.26    
Outstanding, ending balance (in dollars per share) $ 22.32 $ 21.37  
v3.25.4
SHARE-BASED COMPENSATION - Schedule of Share Grants and Vestings (Details) - USD ($)
$ / shares in Units, $ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Restricted Shares      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Number of restricted shares granted (in shares) 242,980 256,134 229,551
Weighted average grant date fair value per share (in dollars per share) $ 22.97 $ 21.20 $ 21.45
Fair value of restricted shares vested $ 3,324 $ 3,736 $ 3,936
LTIP Units      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Number of restricted shares granted (in shares) 198,039 194,136 163,515
Weighted average grant date fair value per share (in dollars per share) $ 18.81 $ 16.99 $ 17.45
Fair value of restricted shares vested $ 5,197 $ 4,270 $ 3,740
v3.25.4
SHARE-BASED COMPENSATION - Schedule of LTIP Units Activity (Details) - LTIP Units - $ / shares
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Number of LTIP Units      
Outstanding, beginning balance (in shares) 410,709    
Granted (in shares) 198,039 194,136 163,515
Vested (in shares) (226,779)    
Outstanding, ending balance (in shares) 381,969 410,709  
Weighted Average Grant Date Fair Value per Unit      
Outstanding, beginning balance (in dollars per share) $ 16.43    
Granted (in dollars per share) 18.81 $ 16.99 $ 17.45
Vested (in dollars per share) 15.86    
Outstanding, ending balance (in dollars per share) $ 18.00 $ 16.43  
v3.25.4
DEFERRED COSTS AND INTANGIBLES, NET - Schedule of Deferred Costs (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]    
Acquired lease intangible assets $ 260,108 $ 357,674
Deferred leasing costs and other 91,550 89,762
Deferred costs, gross 351,658 447,436
Less: accumulated amortization (167,017) (206,589)
Deferred costs, including assets held for sale 184,641 240,847
Less: deferred costs associated with investment properties held for sale (3,088) (2,634)
Deferred costs, net $ 181,553 $ 238,213
v3.25.4
DEFERRED COSTS AND INTANGIBLES, NET - Schedule of Future Amortization Expense (Details)
$ in Thousands
Dec. 31, 2025
USD ($)
Finite-Lived Intangible Assets [Line Items]  
2026 $ 31,224
2027 21,195
2028 16,275
2029 11,146
2030 8,306
Thereafter 19,011
Total 107,157
Amortization of Above-Market Leases  
Finite-Lived Intangible Assets [Line Items]  
2026 4,201
2027 2,965
2028 2,006
2029 992
2030 740
Thereafter 738
Total 11,642
Amortization of Acquired Lease Intangible Assets  
Finite-Lived Intangible Assets [Line Items]  
2026 27,023
2027 18,230
2028 14,269
2029 10,154
2030 7,566
Thereafter 18,273
Total $ 95,515
v3.25.4
DEFERRED COSTS AND INTANGIBLES, NET - Schedule of Amortization Expense (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]      
Amortization of deferred leasing costs, lease intangibles and other $ 60,740 $ 77,224 $ 107,542
Amortization of above-market lease intangibles $ 7,861 $ 9,479 $ 12,007
v3.25.4
DEFERRED REVENUE, INTANGIBLES, NET AND OTHER LIABILITIES - Schedule of Deferred Revenue and Other Liabilities (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Other Liabilities Disclosure [Abstract]    
Unamortized in-place lease liabilities $ 110,038 $ 142,035
Retainage payables and other 18,479 8,317
Tenant rents received in advance 31,456 32,176
Lease liabilities $ 65,343 $ 67,037
Operating Lease, Liability, Statement of Financial Position [Extensible Enumeration] Deferred revenue and other liabilities Deferred revenue and other liabilities
Total deferred revenue and other liabilities, gross $ 225,316 $ 249,565
Less: deferred revenue associated with investment properties held for sale (3,503) (3,465)
Deferred revenue and other liabilities $ 221,813 $ 246,100
v3.25.4
DEFERRED REVENUE, INTANGIBLES, NET AND OTHER LIABILITIES - Additional Information (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Other Liabilities Disclosure [Abstract]      
Amortization of below-market lease intangibles $ 19.8 $ 19.6 $ 24.0
v3.25.4
DEFERRED REVENUE, INTANGIBLES, NET AND OTHER LIABILITIES - Schedule of Amortization of In-place Lease Liabilities (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Other Liabilities Disclosure [Abstract]    
2026 $ 10,859  
2027 8,560  
2028 7,981  
2029 6,827  
2030 6,174  
Thereafter 69,637  
Total $ 110,038 $ 142,035
v3.25.4
MORTGAGE AND OTHER INDEBTEDNESS - Schedule of Indebtedness (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Debt Instrument [Line Items]    
Gross debt $ 3,027,937 $ 3,228,185
Unamortized discounts and premiums, net 18,394 22,191
Unamortized debt issuance costs, net (20,853) (23,446)
Mortgage and other indebtedness, net 3,025,478 3,226,930
Unsecured revolving line of credit    
Debt Instrument [Line Items]    
Gross debt 85,000 0
Mortgages payable    
Debt Instrument [Line Items]    
Gross debt 142,937 148,185
Senior unsecured notes    
Debt Instrument [Line Items]    
Gross debt 2,250,000 2,380,000
Unsecured term loans    
Debt Instrument [Line Items]    
Gross debt $ 550,000 $ 700,000
v3.25.4
MORTGAGE AND OTHER INDEBTEDNESS - Schedule of Weighted Average Interest Rates and Maturities (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Debt Instrument [Line Items]    
Gross debt $ 3,027,937 $ 3,228,185
Debt discounts, premiums and issuance costs, net (2,459)  
Mortgage and other indebtedness, net $ 3,025,478 $ 3,226,930
Ratio (as a percent) 100.00%  
Weighted average interest rate (as a percent) 4.36%  
Weighted average years to maturity (in years) 4 years 2 months 12 days  
Fixed rate debt considering hedges    
Debt Instrument [Line Items]    
Gross debt $ 2,530,737  
Ratio (as a percent) 84.00%  
Weighted average interest rate (as a percent) 4.28%  
Weighted average years to maturity (in years) 4 years 6 months  
Fixed rate debt considering hedges | Variable rate debt    
Debt Instrument [Line Items]    
Mortgage and other indebtedness, net $ 150,000  
Variable rate debt considering hedges    
Debt Instrument [Line Items]    
Gross debt $ 497,200  
Ratio (as a percent) 16.00%  
Weighted average interest rate (as a percent) 4.73%  
Weighted average years to maturity (in years) 2 years 6 months  
v3.25.4
MORTGAGE AND OTHER INDEBTEDNESS - Schedule of Mortgages Payable (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Debt Instrument [Line Items]    
Gross debt $ 3,027,937 $ 3,228,185
Weighted average interest rate (as a percent) 4.36%  
Weighted average years to maturity (in years) 4 years 2 months 12 days  
Variable rate debt | Minimum    
Debt Instrument [Line Items]    
Variable interest rate (as a percent) 4.54%  
Variable rate debt | Maximum    
Debt Instrument [Line Items]    
Variable interest rate (as a percent) 5.84%  
Mortgages payable    
Debt Instrument [Line Items]    
Gross debt $ 142,937 148,185
Mortgages payable | Fixed rate debt    
Debt Instrument [Line Items]    
Gross debt $ 130,737 $ 133,585
Weighted average interest rate (as a percent) 5.11% 5.10%
Weighted average years to maturity (in years) 6 years 2 months 12 days 7 years 1 month 6 days
Mortgages payable | Fixed rate debt | Minimum    
Debt Instrument [Line Items]    
Interest rate (as a percent) 3.75% 3.75%
Mortgages payable | Fixed rate debt | Maximum    
Debt Instrument [Line Items]    
Interest rate (as a percent) 5.73% 5.73%
Mortgages payable | Variable rate debt    
Debt Instrument [Line Items]    
Gross debt $ 12,200 $ 14,600
Weighted average interest rate (as a percent) 5.84% 6.48%
Weighted average years to maturity (in years) 7 months 6 days 1 year 7 months 6 days
Variable interest rate, type [Extensible enumeration] Secured Overnight Financing Rate (SOFR) [Member]  
Variable rate basis (as a percent) 2.15%  
Variable interest rate (as a percent) 3.69% 4.33%
v3.25.4
MORTGAGE AND OTHER INDEBTEDNESS - Mortgages Payable - Additional Information (Details)
$ in Millions
 12 Months Ended
Dec. 31, 2025
USD ($)
Mortgages payable  
Debt Instrument [Line Items]  
Scheduled principal payments $ 5.2
v3.25.4
MORTGAGE AND OTHER INDEBTEDNESS - Schedule of Senior Unsecured Notes (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Sep. 10, 2025
Jun. 30, 2025
Debt Instrument [Line Items]        
Gross debt $ 3,027,937 $ 3,228,185    
Senior unsecured notes        
Debt Instrument [Line Items]        
Gross debt 2,250,000 $ 2,380,000    
Senior notes – 4.00% due 2025 | Senior unsecured notes        
Debt Instrument [Line Items]        
Stated interest rate (as a percent)   4.00%    
Gross debt $ 0 $ 350,000    
Interest rate (as a percent) 0.00% 4.00%    
Senior notes - 4.47% due 2025 | Senior unsecured notes        
Debt Instrument [Line Items]        
Stated interest rate (as a percent)   4.47% 4.47%  
Gross debt $ 0 $ 80,000    
Interest rate (as a percent) 0.00% 7.70%    
Variable interest rate, type [Extensible enumeration]   Secured Overnight Financing Rate (SOFR) [Member]    
Credit spread (as a percent)   3.65%    
Senior notes – 4.08% due 2026 | Senior unsecured notes        
Debt Instrument [Line Items]        
Stated interest rate (as a percent) 4.08%      
Gross debt $ 100,000 $ 100,000    
Interest rate (as a percent) 4.08% 4.08%    
Senior notes – 4.00% due 2026 | Senior unsecured notes        
Debt Instrument [Line Items]        
Stated interest rate (as a percent) 4.00%      
Gross debt $ 300,000 $ 300,000    
Interest rate (as a percent) 4.00% 4.00%    
Senior exchangeable notes – 0.75% due 2027 | Senior exchangeable notes        
Debt Instrument [Line Items]        
Stated interest rate (as a percent) 0.75%      
Gross debt $ 175,000 $ 175,000    
Interest rate (as a percent) 0.75% 0.75%    
Senior notes - 4.57% due 2027 | Senior unsecured notes        
Debt Instrument [Line Items]        
Stated interest rate (as a percent) 4.57% 4.57%    
Gross debt $ 75,000 $ 75,000    
Interest rate (as a percent) 4.57% 7.80%    
Variable interest rate, type [Extensible enumeration]   Secured Overnight Financing Rate (SOFR) [Member]    
Credit spread (as a percent)   3.75%    
Senior notes – 4.24% due 2028 | Senior unsecured notes        
Debt Instrument [Line Items]        
Stated interest rate (as a percent) 4.24%      
Gross debt $ 100,000 $ 100,000    
Interest rate (as a percent) 4.24% 4.24%    
Senior notes – 4.82% due 2029 | Senior unsecured notes        
Debt Instrument [Line Items]        
Stated interest rate (as a percent) 4.82%      
Gross debt $ 100,000 $ 100,000    
Interest rate (as a percent) 4.82% 4.82%    
Senior notes – 4.75% due 2030 | Senior unsecured notes        
Debt Instrument [Line Items]        
Stated interest rate (as a percent) 4.75%      
Gross debt $ 400,000 $ 400,000    
Interest rate (as a percent) 4.75% 4.75%    
Senior notes – 4.95% due 2031 | Senior unsecured notes        
Debt Instrument [Line Items]        
Stated interest rate (as a percent) 4.95%      
Gross debt $ 350,000 $ 350,000    
Interest rate (as a percent) 4.95% 4.95%    
Senior notes – 5.20% due 2032 | Senior unsecured notes        
Debt Instrument [Line Items]        
Stated interest rate (as a percent) 5.20%     5.20%
Gross debt $ 300,000 $ 0    
Interest rate (as a percent) 5.20% 0.00%    
Senior notes – 5.50% due 2034 | Senior unsecured notes        
Debt Instrument [Line Items]        
Stated interest rate (as a percent) 5.50%      
Gross debt $ 350,000 $ 350,000    
Senior notes – 5.50% due 2034 | Senior unsecured notes | Designated as Hedging Instrument        
Debt Instrument [Line Items]        
Interest rate (as a percent) 4.60% 4.60%    
v3.25.4
MORTGAGE AND OTHER INDEBTEDNESS - Private Placement Senior Unsecured Notes and Publicly Placed Senior Unsecured Notes - Additional Information (Details) - USD ($)
 1 Months Ended 12 Months Ended
Jun. 30, 2025
Jan. 31, 2024
Aug. 31, 2015
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Sep. 10, 2025
Aug. 31, 2024
Oct. 31, 2021
Sep. 30, 2016
Debt Instrument [Line Items]                    
Repayments of long-term debt       $ 1,018,248,000 $ 314,756,000 $ 544,410,000        
Gross debt       $ 3,027,937,000 3,228,185,000          
Weighted average years to maturity (in years)       4 years 2 months 12 days            
Kite Realty Group, L.P.                    
Debt Instrument [Line Items]                    
Repayments of long-term debt       $ 1,018,248,000 314,756,000 544,410,000        
Senior unsecured notes                    
Debt Instrument [Line Items]                    
Gross debt       2,250,000,000 2,380,000,000          
Unsecured term loans                    
Debt Instrument [Line Items]                    
Gross debt       $ 550,000,000 700,000,000          
Private Placement Notes | Senior unsecured notes | Kite Realty Group, L.P.                    
Debt Instrument [Line Items]                    
Stated interest rate (as a percent)     4.41%              
Gross debt     $ 250,000,000              
Weighted average years to maturity (in years)     9 years 9 months 18 days              
Redemption price, percentage (as a percent)       100.00%            
Private Placement Notes | Senior unsecured notes | Kite Realty Group, L.P. | Minimum                    
Debt Instrument [Line Items]                    
Minimum percentage of principal amount available to be redeemed (as a percent)       5.00%            
4.58% Senior Unsecured Notes | Senior unsecured notes                    
Debt Instrument [Line Items]                    
Repayments of long-term debt         $ 149,600,000          
Stated interest rate (as a percent)         4.58%          
4.58% Senior Unsecured Notes | Senior unsecured notes | Kite Realty Group, L.P.                    
Debt Instrument [Line Items]                    
Repayments of long-term debt   $ 149,600,000                
Stated interest rate (as a percent)   4.58%                
Senior notes - 4.47% due 2025 | Senior unsecured notes                    
Debt Instrument [Line Items]                    
Repayments of long-term debt       $ 80,000,000            
Stated interest rate (as a percent)         4.47%   4.47%      
Gross debt       $ 0 $ 80,000,000          
Senior notes – 4.23% due 2024 | Senior unsecured notes                    
Debt Instrument [Line Items]                    
Repayments of long-term debt           $ 95,000,000        
Stated interest rate (as a percent)           4.23%        
Senior notes – 5.20% due 2032 | Senior unsecured notes                    
Debt Instrument [Line Items]                    
Stated interest rate (as a percent) 5.20%     5.20%            
Gross debt       $ 300,000,000 $ 0          
Debt instrument, face amount $ 300,000,000                  
Interest rate, percentage of principal amount (as a percent) 0.99513                  
Interest rate (as a percent) 5.281%                  
Unsecured term loan due 2026 - fixed rate | Unsecured term loans                    
Debt Instrument [Line Items]                    
Stated interest rate (as a percent)       0.00% 2.73%          
Gross debt       $ 0 $ 150,000,000          
Unsecured term loan due 2026 - fixed rate | Unsecured term loans | Kite Realty Group, L.P.                    
Debt Instrument [Line Items]                    
Repayments of long-term debt $ 150,000,000     $ 150,000,000            
Gross debt                 $ 150,000,000  
Senior notes – 5.50% due 2034 | Senior unsecured notes                    
Debt Instrument [Line Items]                    
Stated interest rate (as a percent)       5.50%            
Gross debt       $ 350,000,000 350,000,000          
Senior notes – 5.50% due 2034 | Senior unsecured notes | Kite Realty Group, L.P.                    
Debt Instrument [Line Items]                    
Stated interest rate (as a percent)   5.50%                
Debt instrument, face amount   $ 350,000,000                
Interest rate, percentage of principal amount (as a percent)   0.98670                
Interest rate (as a percent)   5.673%                
$120M unsecured term loan | Unsecured term loans | Kite Realty Group, L.P.                    
Debt Instrument [Line Items]                    
Repayments of long-term debt   $ 120,000,000     120,000,000          
Gross debt                 120,000,000  
Public Placement Notes | Senior unsecured notes | Kite Realty Group, L.P.                    
Debt Instrument [Line Items]                    
Redemption price, percentage (as a percent)       100.00%            
Redemption period, prior to maturity date (in months)       3 months            
Senior notes – 4.00% due 2016 | Senior unsecured notes | Kite Realty Group, L.P.                    
Debt Instrument [Line Items]                    
Stated interest rate (as a percent)                   4.00%
Debt instrument, face amount                   $ 300,000,000
Senior notes – 4.95% due 2031 | Senior unsecured notes                    
Debt Instrument [Line Items]                    
Stated interest rate (as a percent)       4.95%            
Gross debt       $ 350,000,000 $ 350,000,000          
Senior notes – 4.95% due 2031 | Senior unsecured notes | Kite Realty Group, L.P.                    
Debt Instrument [Line Items]                    
Stated interest rate (as a percent)               4.95%    
Debt instrument, face amount               $ 350,000,000    
Interest rate, percentage of principal amount (as a percent)               0.99328    
Interest rate (as a percent)               5.062%    
Senior notes – 4.00% due 2025 | Senior unsecured notes                    
Debt Instrument [Line Items]                    
Stated interest rate (as a percent)         4.00%          
Gross debt       $ 0 $ 350,000,000          
Senior notes – 4.00% due 2025 | Senior unsecured notes | Kite Realty Group, L.P.                    
Debt Instrument [Line Items]                    
Stated interest rate (as a percent)               4.00%    
Gross debt               $ 350,000,000    
Retail Properties of America, Inc. | Private Placement Notes | Senior unsecured notes | Kite Realty Group, L.P.                    
Debt Instrument [Line Items]                    
Debt assumed in the RPAI merger                 450,000,000  
Retail Properties of America, Inc. | Public Placement Notes | Senior unsecured notes | Kite Realty Group, L.P.                    
Debt Instrument [Line Items]                    
Debt assumed in the RPAI merger                 $ 750,000,000  
v3.25.4
MORTGAGE AND OTHER INDEBTEDNESS - Exchangeable Senior Notes - Additional Information (Details)
$ / shares in Units, $ in Thousands
 1 Months Ended 12 Months Ended
Mar. 17, 2021
$ / shares
Mar. 31, 2021
USD ($)
day
$ / shares
Dec. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Debt Instrument [Line Items]          
Loan proceeds     $ 816,539 $ 732,993 $ 369,095
Kite Realty Group, L.P.          
Debt Instrument [Line Items]          
Loan proceeds     816,539 732,993 369,095
Senior exchangeable notes | Kite Realty Group, L.P.          
Debt Instrument [Line Items]          
Debt instrument, face amount   $ 175,000      
Stated interest rate (as a percent)   0.75%      
Loan proceeds   $ 169,700      
Interest expense     $ 1,300 $ 1,300 $ 1,300
Exchangeable conversion ratio   0.0396628 0.0418881    
Exchange premium, percent of closing price (as a percent)   25.00%      
Percentage of exchange price (as a percent)   130.00%      
Trading days | day   20      
Consecutive trading days | day   30      
Redemption price, percentage (as a percent)   100.00%      
Senior exchangeable notes | Kite Realty Group, L.P. | Common Shares          
Debt Instrument [Line Items]          
Conversion price (in dollars per share) | $ / shares   $ 25.21      
Common stock closing price (in dollars per share) | $ / shares $ 20.17        
Senior exchangeable notes | Capped Call | Kite Realty Group, L.P.          
Debt Instrument [Line Items]          
Exchange premium, percent of closing price (as a percent)   50.00%      
Exchange price (in dollars per share) | $ / shares   $ 30.26      
Purchase of capped calls   $ 9,800      
v3.25.4
MORTGAGE AND OTHER INDEBTEDNESS - Schedule of Term Loans and Revolving Line of Credit (Details)
 1 Months Ended 6 Months Ended 12 Months Ended
Jul. 31, 2025
Jun. 30, 2025
USD ($)
Oct. 31, 2024
USD ($)
extension
Jul. 31, 2022
USD ($)
Oct. 31, 2018
USD ($)
Jun. 30, 2025
Dec. 31, 2025
USD ($)
extension
Dec. 31, 2024
USD ($)
extension
Dec. 31, 2023
USD ($)
Oct. 31, 2021
USD ($)
Debt Instrument [Line Items]                    
Gross debt             $ 3,027,937,000 $ 3,228,185,000    
Repayments of long-term debt             1,018,248,000 314,756,000 $ 544,410,000  
Kite Realty Group, L.P.                    
Debt Instrument [Line Items]                    
Repayments of long-term debt             1,018,248,000 314,756,000 $ 544,410,000  
Unsecured credit facility revolving line of credit - variable rate                    
Debt Instrument [Line Items]                    
Gross debt             $ 85,000,000 $ 0    
Interest rate (as a percent)             4.92% 5.64%    
Extension fee percentage (as a percent)             0.00075      
Unsecured credit facility revolving line of credit - variable rate | Kite Realty Group, L.P.                    
Debt Instrument [Line Items]                    
Variable interest rate, type [Extensible enumeration]     Secured Overnight Financing Rate (SOFR) [Member]              
Extension fee percentage (as a percent)             0.00075      
Unsecured credit facility revolving line of credit - variable rate | Debt Instrument, Maturity Option, One                    
Debt Instrument [Line Items]                    
Number of extension options | extension             1      
Extension period             1 year      
Unsecured credit facility revolving line of credit - variable rate | Debt Instrument, Maturity Option, One | Kite Realty Group, L.P.                    
Debt Instrument [Line Items]                    
Number of extension options | extension     1       1      
Extension period     1 year       1 year      
Unsecured credit facility revolving line of credit - variable rate | Debt Instrument, Maturity Option, Two                    
Debt Instrument [Line Items]                    
Number of extension options | extension             2      
Extension period             6 months      
Unsecured credit facility revolving line of credit - variable rate | Debt Instrument, Maturity Option, Two | Kite Realty Group, L.P.                    
Debt Instrument [Line Items]                    
Number of extension options | extension     2       2      
Extension period     6 months       6 months      
Unsecured term loans                    
Debt Instrument [Line Items]                    
Gross debt             $ 550,000,000 $ 700,000,000    
Unsecured term loans | Unsecured term loan due 2026 - fixed rate                    
Debt Instrument [Line Items]                    
Gross debt             $ 0 $ 150,000,000    
Interest rate (as a percent)             0.00% 2.73%    
Variable interest rate, type [Extensible enumeration]               Secured Overnight Financing Rate (SOFR) [Member]    
Percentage bearing fixed interest rate (as a percent)               1.68%    
Variable interest rate (as a percent)               1.05%    
Unsecured term loans | Unsecured term loan due 2026 - fixed rate | Kite Realty Group, L.P.                    
Debt Instrument [Line Items]                    
Gross debt                   $ 150,000,000
Repayments of long-term debt   $ 150,000,000         $ 150,000,000      
Unsecured term loans | Unsecured term loan due 2026 - fixed rate | Minimum                    
Debt Instrument [Line Items]                    
Variable rate basis (as a percent)               0.75%    
Unsecured term loans | Unsecured term loan due 2026 - fixed rate | Maximum                    
Debt Instrument [Line Items]                    
Variable rate basis (as a percent)               1.60%    
Unsecured term loans | Unsecured term loan due 2027 - fixed rate                    
Debt Instrument [Line Items]                    
Gross debt             $ 250,000,000 $ 250,000,000    
Interest rate (as a percent)             4.72% 3.94%    
Variable interest rate, type [Extensible enumeration]               Secured Overnight Financing Rate (SOFR) [Member]    
Percentage bearing fixed interest rate (as a percent)               2.99%    
Variable interest rate (as a percent)               0.95%    
Number of extension options | extension               1    
Extension period               1 year    
Unsecured term loans | Unsecured term loan due 2027 - fixed rate | Kite Realty Group, L.P.                    
Debt Instrument [Line Items]                    
Gross debt         $ 250,000,000   $ 250,000,000      
Variable interest rate, type [Extensible enumeration]         Secured Overnight Financing Rate (SOFR) [Member]          
Number of extension options | extension     1       1      
Extension period     1 year       1 year      
Unsecured term loans | Unsecured term loan due 2027 - fixed rate | Minimum                    
Debt Instrument [Line Items]                    
Variable rate basis (as a percent)               0.75%    
Unsecured term loans | Unsecured term loan due 2027 - fixed rate | Maximum                    
Debt Instrument [Line Items]                    
Variable rate basis (as a percent)               1.60%    
Unsecured term loans | Unsecured term loan due 2029 - fixed rate                    
Debt Instrument [Line Items]                    
Gross debt             $ 300,000,000 $ 300,000,000    
Interest rate (as a percent)             3.54% 3.72%    
Variable interest rate, type [Extensible enumeration]             Secured Overnight Financing Rate (SOFR) [Member] Secured Overnight Financing Rate (SOFR) [Member]    
Percentage bearing fixed interest rate (as a percent)             1.68% 2.47%    
Variable interest rate (as a percent)             0.85% 1.25%    
Debt instrument, face amount             $ 300,000,000      
Unsecured term loans | Unsecured term loan due 2029 - fixed rate | Kite Realty Group, L.P.                    
Debt Instrument [Line Items]                    
Gross debt     $ 300,000,000 $ 300,000,000     $ 300,000,000 $ 300,000,000    
Variable interest rate, type [Extensible enumeration]       Secured Overnight Financing Rate (SOFR) [Member]            
Debt instrument, face amount     $ 300,000,000              
Unsecured term loans | Unsecured term loan due 2029 - fixed rate | Minimum                    
Debt Instrument [Line Items]                    
Variable rate basis (as a percent)             0.75% 1.15%    
Unsecured term loans | Unsecured term loan due 2029 - fixed rate | Minimum | Kite Realty Group, L.P.                    
Debt Instrument [Line Items]                    
Variable rate basis (as a percent) 0.75%         1.15%        
Unsecured term loans | Unsecured term loan due 2029 - fixed rate | Maximum                    
Debt Instrument [Line Items]                    
Variable rate basis (as a percent)             1.60% 2.20%    
Unsecured term loans | Unsecured term loan due 2029 - fixed rate | Maximum | Kite Realty Group, L.P.                    
Debt Instrument [Line Items]                    
Variable rate basis (as a percent) 1.60%         2.20%        
Interest Rate Swap | Unsecured term loan due 2029 - fixed rate                    
Debt Instrument [Line Items]                    
Gross debt             $ 150,000,000      
v3.25.4
MORTGAGE AND OTHER INDEBTEDNESS - Unsecured Revolving Credit Facility - Additional Information (Details)
 1 Months Ended 12 Months Ended
Oct. 31, 2024
USD ($)
extension
Jul. 31, 2022
USD ($)
Oct. 31, 2021
Dec. 31, 2025
USD ($)
extension
Dec. 31, 2024
USD ($)
Debt Instrument [Line Items]          
Gross debt       $ 3,027,937,000 $ 3,228,185,000
Letters of credit outstanding       4,200,000  
Letters of credit outstanding, amount advanced       0  
Unsecured revolving line of credit          
Debt Instrument [Line Items]          
Gross debt       $ 85,000,000 0
Unsecured revolving line of credit | Debt Instrument, Maturity Option, One          
Debt Instrument [Line Items]          
Number of extension options | extension       1  
Extension period       1 year  
Unsecured revolving line of credit | Debt Instrument, Maturity Option, Two          
Debt Instrument [Line Items]          
Number of extension options | extension       2  
Extension period       6 months  
Kite Realty Group, L.P. | Unsecured revolving line of credit          
Debt Instrument [Line Items]          
Line of credit facility, maximum borrowing capacity $ 1,100,000,000     $ 1,100,000,000  
Line of credit facility, maximum borrowing capacity option $ 2,000,000,000        
Outstanding balance       $ 85,000,000 0
Basis spread on variable rate (as a percent) 0.10%        
Variable interest rate, type [Extensible enumeration] Secured Overnight Financing Rate (SOFR) [Member]        
Debt instrument, covenant, total leverage ratio, minimum 0.350        
Debt instrument, covenant, total leverage ratio, maximum 0.375        
Reduction of interest rate margin upon achievement of sustainability metric 0.0002        
Kite Realty Group, L.P. | Unsecured revolving line of credit | Debt Instrument, Maturity Option, One          
Debt Instrument [Line Items]          
Number of extension options | extension 1     1  
Extension period 1 year     1 year  
Kite Realty Group, L.P. | Unsecured revolving line of credit | Debt Instrument, Maturity Option, Two          
Debt Instrument [Line Items]          
Number of extension options | extension 2     2  
Extension period 6 months     6 months  
Unsecured term loans          
Debt Instrument [Line Items]          
Gross debt       $ 550,000,000 700,000,000
Unsecured term loans | $300M unsecured term loan          
Debt Instrument [Line Items]          
Debt instrument, face amount       300,000,000  
Gross debt       $ 300,000,000 $ 300,000,000
Variable interest rate, type [Extensible enumeration]       Secured Overnight Financing Rate (SOFR) [Member] Secured Overnight Financing Rate (SOFR) [Member]
Unsecured term loans | $300M unsecured term loan | Kite Realty Group, L.P.          
Debt Instrument [Line Items]          
Debt instrument, term (in years) 7 years        
Debt instrument, face amount $ 300,000,000        
Gross debt $ 300,000,000 $ 300,000,000   $ 300,000,000 $ 300,000,000
Basis spread on variable rate (as a percent)   0.10%      
Variable interest rate, type [Extensible enumeration]   Secured Overnight Financing Rate (SOFR) [Member]      
Reduction of interest rate margin upon achievement of sustainability metric     0.0001    
v3.25.4
MORTGAGE AND OTHER INDEBTEDNESS - Schedule of Revolving Facility Key Terms (Details) - Unsecured revolving line of credit
 1 Months Ended 12 Months Ended
Oct. 31, 2024
USD ($)
extension
Dec. 31, 2025
USD ($)
extension
Line of Credit Facility [Line Items]    
Extension fee percentage (as a percent)   0.00075
Debt Instrument, Maturity Option, One    
Line of Credit Facility [Line Items]    
Number of extension options   1
Extension period   1 year
Debt Instrument, Maturity Option, Two    
Line of Credit Facility [Line Items]    
Number of extension options   2
Extension period   6 months
Kite Realty Group, L.P.    
Line of Credit Facility [Line Items]    
Line of credit facility, maximum borrowing capacity | $ $ 1,100,000,000 $ 1,100,000,000
Extension fee percentage (as a percent)   0.00075
Kite Realty Group, L.P. | Debt Instrument, Maturity Option, One    
Line of Credit Facility [Line Items]    
Number of extension options 1 1
Extension period 1 year 1 year
Kite Realty Group, L.P. | Debt Instrument, Maturity Option, Two    
Line of Credit Facility [Line Items]    
Number of extension options 2 2
Extension period 6 months 6 months
Kite Realty Group, L.P. | Minimum | Leverage-based pricing    
Line of Credit Facility [Line Items]    
Credit spread (as a percent)   1.05%
Facility fee (as a percent)   0.15%
Kite Realty Group, L.P. | Minimum | Investment grade pricing    
Line of Credit Facility [Line Items]    
Credit spread (as a percent)   0.725%
Facility fee (as a percent)   0.125%
Kite Realty Group, L.P. | Maximum | Leverage-based pricing    
Line of Credit Facility [Line Items]    
Credit spread (as a percent)   1.50%
Facility fee (as a percent)   0.30%
Kite Realty Group, L.P. | Maximum | Investment grade pricing    
Line of Credit Facility [Line Items]    
Credit spread (as a percent)   1.40%
Facility fee (as a percent)   0.30%
v3.25.4
MORTGAGE AND OTHER INDEBTEDNESS - Unsecured Term Loans - Additional Information (Details)
 1 Months Ended 6 Months Ended 12 Months Ended
Jul. 31, 2025
Jun. 30, 2025
USD ($)
Oct. 31, 2024
USD ($)
extension
Jan. 31, 2024
USD ($)
Jul. 31, 2022
USD ($)
Oct. 31, 2021
USD ($)
Oct. 31, 2018
USD ($)
Jun. 30, 2025
Dec. 31, 2025
USD ($)
extension
Dec. 31, 2024
USD ($)
extension
Dec. 31, 2023
USD ($)
Debt Instrument [Line Items]                      
Gross debt                 $ 3,027,937,000 $ 3,228,185,000  
Repayments of long-term debt                 1,018,248,000 314,756,000 $ 544,410,000
Loss on extinguishment of debt                 0 180,000 0
Kite Realty Group, L.P.                      
Debt Instrument [Line Items]                      
Repayments of long-term debt                 1,018,248,000 314,756,000 544,410,000
Loss on extinguishment of debt                 0 180,000 $ 0
$250M unsecured term loan | Kite Realty Group, L.P. | Minimum | Variable Rate Component One                      
Debt Instrument [Line Items]                      
Credit spread (as a percent)     0.75%                
$250M unsecured term loan | Kite Realty Group, L.P. | Minimum | Variable Rate Component Two                      
Debt Instrument [Line Items]                      
Credit spread (as a percent)     0.00%                
$250M unsecured term loan | Kite Realty Group, L.P. | Maximum | Variable Rate Component One                      
Debt Instrument [Line Items]                      
Credit spread (as a percent)     1.60%                
$250M unsecured term loan | Kite Realty Group, L.P. | Maximum | Variable Rate Component Two                      
Debt Instrument [Line Items]                      
Credit spread (as a percent)     0.60%                
Unsecured term loans                      
Debt Instrument [Line Items]                      
Gross debt                 550,000,000 700,000,000  
Unsecured term loans | $300M unsecured term loan                      
Debt Instrument [Line Items]                      
Gross debt                 $ 300,000,000 $ 300,000,000  
Variable interest rate, type [Extensible enumeration]                 Secured Overnight Financing Rate (SOFR) [Member] Secured Overnight Financing Rate (SOFR) [Member]  
Unsecured term loans | $300M unsecured term loan | Minimum                      
Debt Instrument [Line Items]                      
Credit spread (as a percent)                 0.75% 1.15%  
Unsecured term loans | $300M unsecured term loan | Maximum                      
Debt Instrument [Line Items]                      
Credit spread (as a percent)                 1.60% 2.20%  
Unsecured term loans | $300M unsecured term loan | Kite Realty Group, L.P.                      
Debt Instrument [Line Items]                      
Gross debt     $ 300,000,000   $ 300,000,000       $ 300,000,000 $ 300,000,000  
Basis spread on variable rate (as a percent)         0.10%            
Variable interest rate, type [Extensible enumeration]         Secured Overnight Financing Rate (SOFR) [Member]            
Reduction of interest rate margin upon achievement of sustainability metric           0.0001          
Unsecured term loans | $300M unsecured term loan | Kite Realty Group, L.P. | Minimum                      
Debt Instrument [Line Items]                      
Credit spread (as a percent) 0.75%             1.15%      
Unsecured term loans | $300M unsecured term loan | Kite Realty Group, L.P. | Maximum                      
Debt Instrument [Line Items]                      
Credit spread (as a percent) 1.60%             2.20%      
Unsecured term loans | $120M unsecured term loan | Kite Realty Group, L.P.                      
Debt Instrument [Line Items]                      
Gross debt           $ 120,000,000          
Repayments of long-term debt       $ 120,000,000           120,000,000  
Line of credit facility, maximum borrowing capacity           250,000,000          
Unsecured term loans | $150M unsecured term loan                      
Debt Instrument [Line Items]                      
Gross debt                 0 $ 150,000,000  
Variable interest rate, type [Extensible enumeration]                   Secured Overnight Financing Rate (SOFR) [Member]  
Unsecured term loans | $150M unsecured term loan | Minimum                      
Debt Instrument [Line Items]                      
Credit spread (as a percent)                   0.75%  
Unsecured term loans | $150M unsecured term loan | Maximum                      
Debt Instrument [Line Items]                      
Credit spread (as a percent)                   1.60%  
Unsecured term loans | $150M unsecured term loan | Kite Realty Group, L.P.                      
Debt Instrument [Line Items]                      
Gross debt           $ 150,000,000          
Repayments of long-term debt   $ 150,000,000             150,000,000    
Unsecured term loans | $250M unsecured term loan                      
Debt Instrument [Line Items]                      
Gross debt                 250,000,000 $ 250,000,000  
Variable interest rate, type [Extensible enumeration]                   Secured Overnight Financing Rate (SOFR) [Member]  
Extension period                   1 year  
Number of extension options | extension                   1  
Unsecured term loans | $250M unsecured term loan | Minimum                      
Debt Instrument [Line Items]                      
Credit spread (as a percent)                   0.75%  
Unsecured term loans | $250M unsecured term loan | Maximum                      
Debt Instrument [Line Items]                      
Credit spread (as a percent)                   1.60%  
Unsecured term loans | $250M unsecured term loan | Kite Realty Group, L.P.                      
Debt Instrument [Line Items]                      
Gross debt             $ 250,000,000   $ 250,000,000    
Basis spread on variable rate (as a percent)             0.10%        
Variable interest rate, type [Extensible enumeration]             Secured Overnight Financing Rate (SOFR) [Member]        
Line of credit facility, maximum borrowing capacity             $ 250,000,000        
Extension period     1 year           1 year    
Number of extension options | extension     1           1    
Loss on extinguishment of debt             200,000        
Line of credit facility, accordion feature, increase limit             $ 300,000,000        
v3.25.4
MORTGAGE AND OTHER INDEBTEDNESS - Schedule of Unsecured Term Loans Key Terms (Details)
$ in Thousands
 1 Months Ended 6 Months Ended 12 Months Ended
Jul. 31, 2025
Oct. 31, 2024
USD ($)
extension
Jun. 30, 2025
Dec. 31, 2025
USD ($)
extension
Dec. 31, 2024
USD ($)
extension
Jul. 31, 2022
USD ($)
Oct. 31, 2018
USD ($)
Debt Instrument [Line Items]              
Gross debt       $ 3,027,937 $ 3,228,185    
Unsecured term loans              
Debt Instrument [Line Items]              
Gross debt       550,000 700,000    
Unsecured term loans | $250M unsecured term loan              
Debt Instrument [Line Items]              
Gross debt       250,000 $ 250,000    
Number of extension options | extension         1    
Extension period         1 year    
Unsecured term loans | $250M unsecured term loan | Minimum              
Debt Instrument [Line Items]              
Variable rate basis (as a percent)         0.75%    
Unsecured term loans | $250M unsecured term loan | Maximum              
Debt Instrument [Line Items]              
Variable rate basis (as a percent)         1.60%    
Unsecured term loans | $250M unsecured term loan | Kite Realty Group, L.P.              
Debt Instrument [Line Items]              
Gross debt       $ 250,000     $ 250,000
Number of extension options | extension   1   1      
Extension period   1 year   1 year      
Unsecured term loans | $250M unsecured term loan | Kite Realty Group, L.P. | Minimum | Investment grade pricing              
Debt Instrument [Line Items]              
Variable rate basis (as a percent)       0.75%      
Unsecured term loans | $250M unsecured term loan | Kite Realty Group, L.P. | Maximum | Investment grade pricing              
Debt Instrument [Line Items]              
Variable rate basis (as a percent)       1.60%      
Unsecured term loans | $300M unsecured term loan              
Debt Instrument [Line Items]              
Gross debt       $ 300,000 $ 300,000    
Unsecured term loans | $300M unsecured term loan | Minimum              
Debt Instrument [Line Items]              
Variable rate basis (as a percent)       0.75% 1.15%    
Unsecured term loans | $300M unsecured term loan | Maximum              
Debt Instrument [Line Items]              
Variable rate basis (as a percent)       1.60% 2.20%    
Unsecured term loans | $300M unsecured term loan | Kite Realty Group, L.P.              
Debt Instrument [Line Items]              
Gross debt   $ 300,000   $ 300,000 $ 300,000 $ 300,000  
Unsecured term loans | $300M unsecured term loan | Kite Realty Group, L.P. | Minimum              
Debt Instrument [Line Items]              
Variable rate basis (as a percent) 0.75%   1.15%        
Unsecured term loans | $300M unsecured term loan | Kite Realty Group, L.P. | Minimum | Investment grade pricing              
Debt Instrument [Line Items]              
Variable rate basis (as a percent)       0.75%      
Unsecured term loans | $300M unsecured term loan | Kite Realty Group, L.P. | Maximum              
Debt Instrument [Line Items]              
Variable rate basis (as a percent) 1.60%   2.20%        
Unsecured term loans | $300M unsecured term loan | Kite Realty Group, L.P. | Maximum | Investment grade pricing              
Debt Instrument [Line Items]              
Variable rate basis (as a percent)       1.60%      
v3.25.4
MORTGAGE AND OTHER INDEBTEDNESS - Schedule of Debt Amortization (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Debt Disclosure [Abstract]      
Amortization of debt issuance costs $ 6,868 $ 4,650 $ 3,609
v3.25.4
MORTGAGE AND OTHER INDEBTEDNESS - Schedule of Amortization of Debt Discounts and Premiums (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Debt Disclosure [Abstract]      
Amortization of debt discounts, premiums and hedge instruments $ 7,221 $ 13,592 $ 19,503
v3.25.4
MORTGAGE AND OTHER INDEBTEDNESS - Schedule of Maturities for Debt Discounts, Premiums and Hedge Instruments Amortization (Details)
$ in Thousands
Dec. 31, 2025
USD ($)
Debt Disclosure [Abstract]  
2026 $ 5,786
2027 4,709
2028 4,699
2029 3,773
2030 2,031
Thereafter (2,084)
Total unamortized debt discounts, premiums and hedge instruments $ 18,914
v3.25.4
MORTGAGE AND OTHER INDEBTEDNESS - Schedule of Reconciliation of Debt Discounts, Premiums and Hedge Instruments Amortization (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Debt Disclosure [Abstract]    
Unamortized discounts and premiums on mortgages payable and senior unsecured notes $ 18,394  
Unamortized hedge instruments 520  
Total unamortized debt discounts, premiums and hedge instruments 18,914  
Unamortized hedge instruments (included in accumulated other comprehensive income) (520)  
Unamortized discounts and premiums, net $ 18,394 $ 22,191
v3.25.4
MORTGAGE AND OTHER INDEBTEDNESS - Schedule of Debt Maturities (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Scheduled Principal Payments    
2026 $ 4,581  
2027 2,662  
2028 2,943  
2029 3,474  
2030 2,936  
Thereafter 3,186  
Scheduled Principal Payments 19,782  
Term Maturities    
2026 10,600  
2027 19,906  
2028 0  
2029 0  
2030 100  
Thereafter 92,549  
Term Maturities 123,155  
Unsecured Debt    
2026 400,000  
2027 500,000  
2028 185,000  
2029 400,000  
2030 400,000  
Thereafter 1,000,000  
Unsecured Debt 2,885,000  
Total    
2026 415,181  
2027 522,568  
2028 187,943  
2029 403,474  
2030 403,036  
Thereafter 1,095,735  
Gross debt 3,027,937 $ 3,228,185
Debt discounts, premiums and issuance costs, net (2,459)  
Mortgage and other indebtedness, net $ 3,025,478 $ 3,226,930
v3.25.4
MORTGAGE AND OTHER INDEBTEDNESS - Other Debt Activity and Fair Value of Fixed and Variable Rate Debt - Additional Information (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Debt Instrument [Line Items]      
Interest costs capitalized $ 2.8 $ 3.9 $ 3.7
Percentage bearing fixed interest, amount 2,400.0    
Percentage bearing variable interest, amount 647.2    
Fixed rate debt      
Debt Instrument [Line Items]      
Long-term debt, fair value 2,400.0    
Variable rate debt      
Debt Instrument [Line Items]      
Long-term debt, fair value $ 647.7    
Minimum | Fixed rate debt      
Debt Instrument [Line Items]      
Percentage bearing fixed interest rate (as a percent) 4.50%    
Minimum | Variable rate debt      
Debt Instrument [Line Items]      
Percentage bearing variable interest rate (as a percent) 4.54%    
Maximum | Fixed rate debt      
Debt Instrument [Line Items]      
Percentage bearing fixed interest rate (as a percent) 6.49%    
Maximum | Variable rate debt      
Debt Instrument [Line Items]      
Percentage bearing variable interest rate (as a percent) 5.84%    
v3.25.4
DERIVATIVE INSTRUMENTS, HEDGING ACTIVITIES AND OTHER COMPREHENSIVE INCOME - Schedule of Terms and Fair Value of Derivative Financial Instruments (Details)
$ in Thousands
Dec. 31, 2025
USD ($)
instrument
Dec. 31, 2024
USD ($)
Oct. 31, 2024
USD ($)
Jul. 31, 2022
USD ($)
Derivative Instruments and Hedging Activities Disclosures [Line Items]        
Gross debt $ 3,027,937 $ 3,228,185    
Unsecured term loans        
Derivative Instruments and Hedging Activities Disclosures [Line Items]        
Gross debt 550,000 700,000    
$300M unsecured term loan | Unsecured term loans        
Derivative Instruments and Hedging Activities Disclosures [Line Items]        
Gross debt 300,000 300,000    
$300M unsecured term loan | Unsecured term loans | Kite Realty Group, L.P.        
Derivative Instruments and Hedging Activities Disclosures [Line Items]        
Gross debt 300,000 300,000 $ 300,000 $ 300,000
Interest Rate Swap | Cash Flow        
Derivative Instruments and Hedging Activities Disclosures [Line Items]        
Aggregate notional 150,000      
Fair value of assets (liabilities) $ 1,503 10,608    
$250M interest rate swap maturing in 2025 | Cash Flow        
Derivative Instruments and Hedging Activities Disclosures [Line Items]        
Number of instruments | instrument 4      
Aggregate notional $ 0      
Reference Rate Secured Overnight Financing Rate (SOFR) [Member]      
Interest rate (as a percent) 2.99%      
Fair value of assets (liabilities) $ 0 2,307    
$100M interest rate swap maturing in 2025 | Cash Flow        
Derivative Instruments and Hedging Activities Disclosures [Line Items]        
Number of instruments | instrument 2      
Aggregate notional $ 0      
Reference Rate Secured Overnight Financing Rate (SOFR) [Member]      
Interest rate (as a percent) 2.66%      
Fair value of assets (liabilities) $ 0 884    
$200M interest rate swap maturing in 2025 | Cash Flow        
Derivative Instruments and Hedging Activities Disclosures [Line Items]        
Number of instruments | instrument 2      
Aggregate notional $ 0      
Reference Rate Secured Overnight Financing Rate (SOFR) [Member]      
Interest rate (as a percent) 2.37%      
Fair value of assets (liabilities) $ 0 2,101    
$150M interest rate swap maturing in 2026 | Cash Flow        
Derivative Instruments and Hedging Activities Disclosures [Line Items]        
Number of instruments | instrument 3      
Aggregate notional $ 150,000      
Reference Rate Secured Overnight Financing Rate (SOFR) [Member]      
Interest rate (as a percent) 1.68%      
Fair value of assets (liabilities) $ 1,503 5,316    
$155M interest rate swap maturing in 2025        
Derivative Instruments and Hedging Activities Disclosures [Line Items]        
Blending floating interest rate (as a percent) 3.70%      
Blended fixed interest rate (as a percent) 4.52%      
$155M interest rate swap maturing in 2025 | Fair Value        
Derivative Instruments and Hedging Activities Disclosures [Line Items]        
Number of instruments | instrument 2      
Aggregate notional $ 0      
Reference Rate Secured Overnight Financing Rate (SOFR) [Member]      
Fair value of assets (liabilities) $ 0 $ (3,937)    
Blending floating interest rate (as a percent) 3.70%      
v3.25.4
DERIVATIVE INSTRUMENTS, HEDGING ACTIVITIES AND OTHER COMPREHENSIVE INCOME - Additional Information (Details)
$ in Millions
 1 Months Ended 12 Months Ended
Jan. 31, 2024
USD ($)
Dec. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
instrument
Jun. 30, 2025
USD ($)
instrument
Aug. 31, 2024
USD ($)
instrument
Derivative Instruments and Hedging Activities Disclosures [Line Items]            
Gain reclassified from AOCI as a reduction to interest expense   $ 9.1 $ 17.4 $ 17.4    
$150M Intraday Interest Rate Lock Agreements | Kite Realty Group, L.P.            
Derivative Instruments and Hedging Activities Disclosures [Line Items]            
Number of instruments | instrument         3  
Aggregate notional         $ 150.0  
Fixed interest rate (as a percent)         4.21%  
Payments for terminated interest rate lock agreements   0.2        
$350M intraday interest rate lock agreements maturing in 2031 | Kite Realty Group, L.P.            
Derivative Instruments and Hedging Activities Disclosures [Line Items]            
Number of instruments | instrument           2
Aggregate notional           $ 350.0
Fixed interest rate (as a percent)           3.75%
Payments for terminated interest rate lock agreements     $ 0.1      
$150M forward-starting interest rate swap maturing in 2034 | Kite Realty Group, L.P.            
Derivative Instruments and Hedging Activities Disclosures [Line Items]            
Number of instruments | instrument       3    
Aggregate notional       $ 150.0    
Fixed interest rate (as a percent)       3.44%    
Proceeds received upon termination $ 0.7          
Interest Rate Swap            
Derivative Instruments and Hedging Activities Disclosures [Line Items]            
Amount expected to reduce interest expense over the next 12 months   $ 5.1        
v3.25.4
LEASE INFORMATION - Schedule of Rental Income from Operating Leases (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Leases [Abstract]      
Fixed contractual lease payments – operating leases $ 659,955 $ 653,537 $ 637,915
Variable lease payments – operating leases 160,000 156,200 151,853
Bad debt reserve (7,838) (5,356) (3,459)
Straight-line rent adjustments 11,341 12,742 13,186
Straight-line rent reserve for uncollectibility (987) (653) (1,374)
Amortization of in-place lease liabilities, net 8,300 10,078 12,025
Rental income $ 830,771 $ 826,548 $ 810,146
v3.25.4
LEASE INFORMATION - Additional Information (Details)
$ in Millions
 12 Months Ended
Dec. 31, 2025
USD ($)
a
lease
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Operating Leased Assets [Line Items]      
Operating leases, overage rent $ 6.0 $ 7.1 $ 7.5
Number of properties subject to ground leases | lease 11    
Area of land (in acres) | a 98    
Weighted average remaining term of ground leases (in years) 32 years 9 months 18 days    
Ground lease expense $ 6.3 6.3 6.2
Ground lease payments $ 5.3 $ 5.2 $ 5.2
Weighted Average      
Operating Leased Assets [Line Items]      
Operating leases, term of contract (in years) 4 years 10 months 24 days    
Minimum      
Operating Leased Assets [Line Items]      
Extension options for ground leases (in years) 5 years    
Length of extension options for ground leases (in years) 20 years    
Maximum      
Operating Leased Assets [Line Items]      
Extension options for ground leases (in years) 10 years    
Length of extension options for ground leases (in years) 25 years    
v3.25.4
LEASE INFORMATION - Schedule of Future Minimum Rentals (Details)
$ in Thousands
Dec. 31, 2025
USD ($)
Leases [Abstract]  
2026 $ 605,363
2027 561,582
2028 484,444
2029 393,729
2030 319,166
Thereafter 995,735
Total $ 3,360,019
v3.25.4
LEASE INFORMATION - Schedule of Future Minimum Lease Payments Due Under Ground Leases (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Leases [Abstract]    
2026 $ 5,238  
2027 5,283  
2028 5,063  
2029 5,018  
2030 5,325  
Thereafter 95,918  
Total 121,845  
Adjustment for discounting (56,502)  
Lease Obligations $ 65,343 $ 67,037
v3.25.4
SEGMENT REPORTING - Additional Information (Details)
 12 Months Ended
Dec. 31, 2025
segment
Segment Reporting [Abstract]  
Number of reportable segments 1
Number of operating segments 1
v3.25.4
SEGMENT REPORTING - Schedule of Segment Revenue and Significant Segment Expenses (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Revenue:      
Total revenue $ 844,365 $ 837,479 $ 821,342
Expenses:      
Real estate taxes 104,531 103,893 102,426
Net gains from outlot sales 6,096 4,363 1,662
Other general and administrative expenses (55,459) (52,558) (56,142)
Impairment charges (51,849) (66,201) (477)
Depreciation and amortization (373,287) (393,335) (426,361)
Interest expense (132,577) (125,691) (105,349)
Equity in (loss) earnings of unconsolidated subsidiaries (11,650) (1,158) 33
Gain on sale of unconsolidated property, net 0 2,325 0
Income tax expense of taxable REIT subsidiaries (467) (139) (533)
Loss on extinguishment of debt 0 (180) 0
Other income, net 9,038 17,869 1,991
Gain (loss) on sales of operating properties, net 291,962 (864) 22,601
Net income 305,528 4,416 48,383
Net income attributable to noncontrolling interests (6,865) (345) (885)
Net income attributable to common shareholders 298,663 4,071 47,498
Other property-related revenue      
Revenue:      
Revenue 9,354 6,268 6,830
Fee income      
Revenue:      
Revenue 4,240 4,663 4,366
Reportable Segment      
Revenue:      
Bad debt reserve (7,838) (5,356) (3,459)
Total revenue 837,963 830,972 814,900
Expenses:      
Property operating – recoverable 99,372 96,894 90,180
Property operating – non-recoverable 15,291 15,455 16,348
Real estate taxes 103,819 103,301 101,780
Total expenses 218,482 215,650 208,308
Net operating income 619,481 615,322 606,592
Net gains from outlot sales 6,096 4,363 1,662
Other general and administrative expenses (55,459) (52,558) (56,142)
Impairment charges (51,849) (66,201) (477)
Depreciation and amortization (373,287) (393,335) (426,361)
Interest expense (132,577) (125,691) (105,349)
Equity in (loss) earnings of unconsolidated subsidiaries (11,650) (1,158) 33
Gain on sale of unconsolidated property, net 0 2,325 0
Income tax expense of taxable REIT subsidiaries (467) (139) (533)
Loss on extinguishment of debt 0 (180) 0
Other income, net 9,038 17,869 1,991
Gain (loss) on sales of operating properties, net 291,962 (864) 22,601
Net income 305,528 4,416 48,383
Net income attributable to noncontrolling interests (6,865) (345) (885)
Net income attributable to common shareholders 298,663 4,071 47,498
Reportable Segment | Minimum rent      
Revenue:      
Revenue 655,575 650,331 642,255
Reportable Segment | Tenant reimbursements      
Revenue:      
Revenue 177,015 174,510 163,877
Reportable Segment | Other property-related revenue      
Revenue:      
Revenue 7,192 4,424 4,754
Reportable Segment | Overage rent      
Revenue:      
Revenue 6,019 7,063 7,473
Reportable Segment | Fee income      
Revenue:      
Revenue $ 4,240 $ 4,663 $ 4,366
v3.25.4
SHAREHOLDERS’ EQUITY (Details) - USD ($)
$ / shares in Units, $ in Thousands
 1 Months Ended 2 Months Ended 3 Months Ended 12 Months Ended
Feb. 14, 2026
Jan. 16, 2026
Apr. 30, 2022
Feb. 17, 2026
Dec. 31, 2025
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Feb. 28, 2021
Subsidiary, Sale of Stock [Line Items]                  
Dividends declared per common share (in dollars per share)           $ 1.245 $ 1.03 $ 0.97  
Aggregate amount of shares authorized to be repurchased     $ 300,000           $ 150,000
Increase to amount of shares authorized to be repurchased     $ 150,000            
Amount paid for shares repurchased           $ 247,963      
Subsequent Event                  
Subsidiary, Sale of Stock [Line Items]                  
Aggregate amount of shares authorized to be repurchased $ 600,000                
Increase to amount of shares authorized to be repurchased $ 300,000                
Common Shares                  
Subsidiary, Sale of Stock [Line Items]                  
Number of shares repurchased during the period (in shares)           10,900,000 0 0  
Average repurchase price per share (in dollars per share)           $ 22.82      
Amount paid for shares repurchased           $ 247,700      
Share repurchase program, remaining authorized, amount         $ 52,300 $ 52,300      
Common Shares | Subsequent Event                  
Subsidiary, Sale of Stock [Line Items]                  
Number of shares repurchased during the period (in shares)       2,200,000          
Average repurchase price per share (in dollars per share)       $ 23.92          
Amount paid for shares repurchased       $ 52,300          
S 2025 Q4 Dividends                  
Subsidiary, Sale of Stock [Line Items]                  
Dividends declared per common share (in dollars per share)         $ 0.145        
S 2025 Q4 Dividends | Subsequent Event                  
Subsidiary, Sale of Stock [Line Items]                  
Dividends paid per common share (in dollars per share)   $ 0.145              
O 2025 Q4 Dividends                  
Subsidiary, Sale of Stock [Line Items]                  
Dividends declared per common share (in dollars per share)         $ 0.29        
O 2025 Q4 Dividends | Subsequent Event                  
Subsidiary, Sale of Stock [Line Items]                  
Dividends paid per common share (in dollars per share)   $ 0.29              
v3.25.4
EARNINGS PER SHARE OR UNIT - Additional Information (Details) - shares
shares in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Earnings Per Share [Abstract]      
Weighted average Limited Partner Units outstanding, basic (in shares) 4.8 3.8 3.2
v3.25.4
EARNINGS PER SHARE OR UNIT - Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($)
$ / shares in Units, $ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Numerator:      
Net income attributable to common shareholders – basic $ 298,663 $ 4,071 $ 47,498
Net income attributable to common shareholders – diluted $ 298,663 $ 4,071 $ 47,498
Denominator:      
Weighted average common shares outstanding - basic (in shares) 218,310,451 219,614,149 219,344,832
Effect of dilutive securities:      
Exchangeable notes (in shares) 0 0 0
Weighted average common shares outstanding – diluted (in shares) 218,429,473 219,727,496 219,728,283
Net income per common share – basic (in dollars per share) $ 1.37 $ 0.02 $ 0.22
Net income per common share – diluted (in dollars per share) $ 1.37 $ 0.02 $ 0.22
AO LTIP Units      
Effect of dilutive securities:      
Effect of dilutive securities (in shares) 38,404 43,331 325,603
Deferred common share units      
Effect of dilutive securities:      
Effect of dilutive securities (in shares) 80,618 70,016 57,848
v3.25.4
COMMITMENTS AND CONTINGENCIES (Details)
 1 Months Ended 12 Months Ended
Jul. 31, 2025
USD ($)
ft²
Jul. 31, 2024
USD ($)
Dec. 31, 2025
USD ($)
ft²
Dec. 31, 2021
USD ($)
Dec. 31, 2017
USD ($)
Loss Contingencies [Line Items]          
Letters of credit outstanding     $ 4,200,000    
Letters of credit outstanding, amount advanced     $ 0    
Square footage | ft²     26,880,082    
Eastgate Crossing          
Loss Contingencies [Line Items]          
Square footage | ft² 152,682        
Third-party insurance deductible, including business interruption coverage $ 300,000        
Embassy Suites at Eddy St. Commons Joint Venture          
Loss Contingencies [Line Items]          
Ownership percentage in equity method investment (as a percent)   35.00% 35.00%   35.00%
Repayment of construction loan     $ 10,200,000    
Embassy Suites at Eddy St. Commons Joint Venture | Payment guarantee          
Loss Contingencies [Line Items]          
Amount of obligation         $ 5,900,000
Embassy Suites at Eddy St. Commons Joint Venture | Construction loans          
Loss Contingencies [Line Items]          
Repayment guaranties         $ 33,800,000
Repayment of construction loan   $ 10,200,000      
Buckingham Joint Venture at The Corner          
Loss Contingencies [Line Items]          
Construction loan payable     69,100,000    
Buckingham Joint Venture at The Corner | Payment guarantee | Construction contracts          
Loss Contingencies [Line Items]          
Amount of obligation     $ 34,500,000    
Buckingham Joint Venture at The Corner | Construction loans          
Loss Contingencies [Line Items]          
Repayment guaranties       $ 66,200,000  
v3.25.4
RELATED PARTIES AND RELATED PARTY TRANSACTIONS (Details) - Related Party - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Management, construction management and other services      
Related Party Transaction [Line Items]      
Related party transaction, amount of transaction $ 0.1 $ 0.1 $ 0.1
Travel and related services      
Related Party Transaction [Line Items]      
Related party transaction, amount of transaction $ 0.2 0.2 $ 0.3
Sale of project rights and obligations | KRG Development, LLC      
Related Party Transaction [Line Items]      
Related party transaction, amount of transaction   $ 3.5  
v3.25.4
SUBSEQUENT EVENTS (Details)
$ / shares in Units, $ in Thousands
 1 Months Ended 2 Months Ended 12 Months Ended
Feb. 14, 2026
USD ($)
Apr. 30, 2022
USD ($)
Feb. 17, 2026
USD ($)
property
$ / shares
shares
Dec. 31, 2025
USD ($)
$ / shares
shares
Dec. 31, 2024
shares
Dec. 31, 2023
USD ($)
shares
Feb. 28, 2021
USD ($)
Subsequent Event [Line Items]              
Amount paid for shares repurchased       $ 247,963      
Increase to amount of shares authorized to be repurchased   $ 150,000          
Aggregate amount of shares authorized to be repurchased   $ 300,000         $ 150,000
Disposed of by sale              
Subsequent Event [Line Items]              
Sales price       $ 853,850   $ 142,050  
Subsequent Event              
Subsequent Event [Line Items]              
Increase to amount of shares authorized to be repurchased $ 300,000            
Aggregate amount of shares authorized to be repurchased $ 600,000            
Subsequent Event | Disposed of by sale | One Loudoun Expansion              
Subsequent Event [Line Items]              
Sales price     $ 3,700        
Subsequent Event | One Loudoun Expansion              
Subsequent Event [Line Items]              
Number of residential units with rights to develop | property     14        
Common Shares              
Subsequent Event [Line Items]              
Number of shares repurchased during the period (in shares) | shares       10,900,000 0 0  
Average repurchase price per share (in dollars per share) | $ / shares       $ 22.82      
Amount paid for shares repurchased       $ 247,700      
Common Shares | Subsequent Event              
Subsequent Event [Line Items]              
Number of shares repurchased during the period (in shares) | shares     2,200,000        
Average repurchase price per share (in dollars per share) | $ / shares     $ 23.92        
Amount paid for shares repurchased     $ 52,300        
v3.25.4
Schedule III - Consolidated Real Estate and Accumulated Depreciation - Consolidated Real Estate and Accumulated Depreciation (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Real Estate Properties [Line Items]        
Encumbrances $ 3,027,937      
Initial cost, land 1,746,370      
Initial cost, building & improvements 4,567,207      
Cost capitalized subsequent to acquisition/development, land 8,290      
Cost capitalized subsequent to acquisition/development, building and improvements 681,612      
Gross carrying amount close of period, land 1,754,660      
Gross carrying amount close of period, building and improvements 5,248,819      
Total 7,003,479 $ 7,634,191 $ 7,740,061 $ 7,732,573
Accumulated Depreciation 1,656,191 $ 1,587,661 $ 1,381,770 $ 1,161,148
Operating Properties        
Real Estate Properties [Line Items]        
Encumbrances 142,937      
Initial cost, land 1,625,948      
Initial cost, building & improvements 4,481,369      
Cost capitalized subsequent to acquisition/development, land 8,267      
Cost capitalized subsequent to acquisition/development, building and improvements 599,426      
Gross carrying amount close of period, land 1,634,215      
Gross carrying amount close of period, building and improvements 5,080,795      
Total 6,715,010      
Accumulated Depreciation 1,623,188      
Operating Properties | 12th Street Plaza        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 2,624      
Initial cost, building & improvements 10,615      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 3,999      
Gross carrying amount close of period, land 2,624      
Gross carrying amount close of period, building and improvements 14,614      
Total 17,238      
Accumulated Depreciation 4,601      
Operating Properties | 54th & College        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 2,672      
Initial cost, building & improvements 0      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 0      
Gross carrying amount close of period, land 2,672      
Gross carrying amount close of period, building and improvements 0      
Total 2,672      
Accumulated Depreciation 0      
Operating Properties | Arcadia Village        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 8,487      
Initial cost, building & improvements 11,629      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 577      
Gross carrying amount close of period, land 8,487      
Gross carrying amount close of period, building and improvements 12,206      
Total 20,693      
Accumulated Depreciation 3,453      
Operating Properties | Avondale Plaza        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 6,723      
Initial cost, building & improvements 10,040      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 84      
Gross carrying amount close of period, land 6,723      
Gross carrying amount close of period, building and improvements 10,124      
Total 16,847      
Accumulated Depreciation 2,421      
Operating Properties | Bayonne Crossing        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 47,809      
Initial cost, building & improvements 38,339      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 3,672      
Gross carrying amount close of period, land 47,809      
Gross carrying amount close of period, building and improvements 42,011      
Total 89,820      
Accumulated Depreciation 14,688      
Operating Properties | Bayport Commons        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 7,005      
Initial cost, building & improvements 20,362      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 4,899      
Gross carrying amount close of period, land 7,005      
Gross carrying amount close of period, building and improvements 25,261      
Total 32,266      
Accumulated Depreciation 12,356      
Operating Properties | Bridgewater Marketplace        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 3,407      
Initial cost, building & improvements 7,473      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 1,800      
Gross carrying amount close of period, land 3,407      
Gross carrying amount close of period, building and improvements 9,273      
Total 12,680      
Accumulated Depreciation 4,597      
Operating Properties | Burlington        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 0      
Initial cost, building & improvements 2,773      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 29      
Gross carrying amount close of period, land 0      
Gross carrying amount close of period, building and improvements 2,802      
Total 2,802      
Accumulated Depreciation 2,802      
Operating Properties | Castleton Crossing        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 9,761      
Initial cost, building & improvements 24,162      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 1,566      
Gross carrying amount close of period, land 9,761      
Gross carrying amount close of period, building and improvements 25,728      
Total 35,489      
Accumulated Depreciation 9,135      
Operating Properties | Cedar Park Town Center        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 9,032      
Initial cost, building & improvements 25,600      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 397      
Gross carrying amount close of period, land 9,032      
Gross carrying amount close of period, building and improvements 25,997      
Total 35,029      
Accumulated Depreciation 4,437      
Operating Properties | Centennial Center        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 58,960      
Initial cost, building & improvements 71,351      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 10,668      
Gross carrying amount close of period, land 58,960      
Gross carrying amount close of period, building and improvements 82,019      
Total 140,979      
Accumulated Depreciation 48,012      
Operating Properties | Centennial Gateway        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 5,305      
Initial cost, building & improvements 48,398      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 1,537      
Gross carrying amount close of period, land 5,305      
Gross carrying amount close of period, building and improvements 49,935      
Total 55,240      
Accumulated Depreciation 22,522      
Operating Properties | Centre at Laurel        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 6,122      
Initial cost, building & improvements 34,213      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 1,095      
Gross carrying amount close of period, land 6,122      
Gross carrying amount close of period, building and improvements 35,308      
Total 41,430      
Accumulated Depreciation 8,311      
Operating Properties | Centre Point Commons        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 2,918      
Initial cost, building & improvements 22,272      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 921      
Gross carrying amount close of period, land 2,918      
Gross carrying amount close of period, building and improvements 23,193      
Total 26,111      
Accumulated Depreciation 10,414      
Operating Properties | Chantilly Crossing        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 12,309      
Initial cost, building & improvements 17,458      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 1,415      
Gross carrying amount close of period, land 12,309      
Gross carrying amount close of period, building and improvements 18,873      
Total 31,182      
Accumulated Depreciation 4,584      
Operating Properties | Chapel Hill Shopping Center        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 0      
Initial cost, building & improvements 34,653      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 3,226      
Gross carrying amount close of period, land 0      
Gross carrying amount close of period, building and improvements 37,879      
Total 37,879      
Accumulated Depreciation 18,682      
Operating Properties | Circle East        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 1,188      
Initial cost, building & improvements 26,817      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 2,377      
Gross carrying amount close of period, land 1,188      
Gross carrying amount close of period, building and improvements 29,194      
Total 30,382      
Accumulated Depreciation 4,577      
Operating Properties | Clearlake Shores Shopping Center        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 3,845      
Initial cost, building & improvements 6,493      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 958      
Gross carrying amount close of period, land 3,845      
Gross carrying amount close of period, building and improvements 7,451      
Total 11,296      
Accumulated Depreciation 1,868      
Operating Properties | Coal Creek Marketplace        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 9,397      
Initial cost, building & improvements 11,645      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 520      
Gross carrying amount close of period, land 9,397      
Gross carrying amount close of period, building and improvements 12,165      
Total 21,562      
Accumulated Depreciation 3,548      
Operating Properties | Cobblestone Plaza        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 10,374      
Initial cost, building & improvements 43,620      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 4,669      
Gross carrying amount close of period, land 10,374      
Gross carrying amount close of period, building and improvements 48,289      
Total 58,663      
Accumulated Depreciation 20,720      
Operating Properties | Colleyville Downs        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 5,446      
Initial cost, building & improvements 36,506      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 5,148      
Gross carrying amount close of period, land 5,446      
Gross carrying amount close of period, building and improvements 41,654      
Total 47,100      
Accumulated Depreciation 23,622      
Operating Properties | Colonial Square        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 7,521      
Initial cost, building & improvements 18,499      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 4,301      
Gross carrying amount close of period, land 7,521      
Gross carrying amount close of period, building and improvements 22,800      
Total 30,321      
Accumulated Depreciation 9,242      
Operating Properties | Colony Square        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 20,300      
Initial cost, building & improvements 17,353      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 2,222      
Gross carrying amount close of period, land 20,300      
Gross carrying amount close of period, building and improvements 19,575      
Total 39,875      
Accumulated Depreciation 6,030      
Operating Properties | Commons at Temecula        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 18,966      
Initial cost, building & improvements 43,691      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 665      
Gross carrying amount close of period, land 18,966      
Gross carrying amount close of period, building and improvements 44,356      
Total 63,322      
Accumulated Depreciation 13,309      
Operating Properties | Cool Creek Commons        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 6,062      
Initial cost, building & improvements 12,225      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 8,994      
Gross carrying amount close of period, land 6,062      
Gross carrying amount close of period, building and improvements 21,219      
Total 27,281      
Accumulated Depreciation 10,511      
Operating Properties | Cool Springs Market        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 12,444      
Initial cost, building & improvements 20,880      
Cost capitalized subsequent to acquisition/development, land 40      
Cost capitalized subsequent to acquisition/development, building and improvements 12,021      
Gross carrying amount close of period, land 12,484      
Gross carrying amount close of period, building and improvements 32,901      
Total 45,385      
Accumulated Depreciation 17,121      
Operating Properties | Coppell Town Center        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 5,052      
Initial cost, building & improvements 11,214      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 815      
Gross carrying amount close of period, land 5,052      
Gross carrying amount close of period, building and improvements 12,029      
Total 17,081      
Accumulated Depreciation 3,525      
Operating Properties | Cypress Mill Plaza        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 6,320      
Initial cost, building & improvements 9,926      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 542      
Gross carrying amount close of period, land 6,320      
Gross carrying amount close of period, building and improvements 10,468      
Total 16,788      
Accumulated Depreciation 2,693      
Operating Properties | Davis Towne Crossing        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 995      
Initial cost, building & improvements 8,939      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 196      
Gross carrying amount close of period, land 995      
Gross carrying amount close of period, building and improvements 9,135      
Total 10,130      
Accumulated Depreciation 2,314      
Operating Properties | Delray Marketplace        
Real Estate Properties [Line Items]        
Encumbrances 12,200      
Initial cost, land 18,750      
Initial cost, building & improvements 84,233      
Cost capitalized subsequent to acquisition/development, land 1,284      
Cost capitalized subsequent to acquisition/development, building and improvements 12,078      
Gross carrying amount close of period, land 20,034      
Gross carrying amount close of period, building and improvements 96,311      
Total 116,345      
Accumulated Depreciation 38,936      
Operating Properties | Downtown Crown        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 25,759      
Initial cost, building & improvements 76,338      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 8,501      
Gross carrying amount close of period, land 25,759      
Gross carrying amount close of period, building and improvements 84,839      
Total 110,598      
Accumulated Depreciation 14,122      
Operating Properties | Draper Crossing        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 9,054      
Initial cost, building & improvements 27,063      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 2,580      
Gross carrying amount close of period, land 9,054      
Gross carrying amount close of period, building and improvements 29,643      
Total 38,697      
Accumulated Depreciation 14,792      
Operating Properties | Draper Peaks        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 11,498      
Initial cost, building & improvements 46,639      
Cost capitalized subsequent to acquisition/development, land 522      
Cost capitalized subsequent to acquisition/development, building and improvements 6,952      
Gross carrying amount close of period, land 12,020      
Gross carrying amount close of period, building and improvements 53,591      
Total 65,611      
Accumulated Depreciation 21,419      
Operating Properties | East Stone Commons        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 3,766      
Initial cost, building & improvements 21,252      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 536      
Gross carrying amount close of period, land 3,766      
Gross carrying amount close of period, building and improvements 21,788      
Total 25,554      
Accumulated Depreciation 5,262      
Operating Properties | Eastern Beltway        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 23,221      
Initial cost, building & improvements 45,500      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 9,107      
Gross carrying amount close of period, land 23,221      
Gross carrying amount close of period, building and improvements 54,607      
Total 77,828      
Accumulated Depreciation 22,569      
Operating Properties | Eastgate Pavilion        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 8,026      
Initial cost, building & improvements 18,217      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 3,306      
Gross carrying amount close of period, land 8,026      
Gross carrying amount close of period, building and improvements 21,523      
Total 29,549      
Accumulated Depreciation 11,616      
Operating Properties | Eastwood Towne Center        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 3,242      
Initial cost, building & improvements 55,528      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 7,279      
Gross carrying amount close of period, land 3,242      
Gross carrying amount close of period, building and improvements 62,807      
Total 66,049      
Accumulated Depreciation 16,955      
Operating Properties | Eddy Street Commons        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 1,900      
Initial cost, building & improvements 46,685      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 8,751      
Gross carrying amount close of period, land 1,900      
Gross carrying amount close of period, building and improvements 55,436      
Total 57,336      
Accumulated Depreciation 20,056      
Operating Properties | Edwards Multiplex        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 22,583      
Initial cost, building & improvements 27,232      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 294      
Gross carrying amount close of period, land 22,583      
Gross carrying amount close of period, building and improvements 27,526      
Total 50,109      
Accumulated Depreciation 7,811      
Operating Properties | Estero Town Commons        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 7,453      
Initial cost, building & improvements 9,900      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 1,533      
Gross carrying amount close of period, land 7,453      
Gross carrying amount close of period, building and improvements 11,433      
Total 18,886      
Accumulated Depreciation 5,895      
Operating Properties | Fairgrounds Plaza        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 12,690      
Initial cost, building & improvements 15,249      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 113      
Gross carrying amount close of period, land 12,690      
Gross carrying amount close of period, building and improvements 15,362      
Total 28,052      
Accumulated Depreciation 3,974      
Operating Properties | Fishers Station        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 5,041      
Initial cost, building & improvements 13,001      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 312      
Gross carrying amount close of period, land 5,041      
Gross carrying amount close of period, building and improvements 13,313      
Total 18,354      
Accumulated Depreciation 6,069      
Operating Properties | Fordham Place        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 41,993      
Initial cost, building & improvements 100,111      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 1,685      
Gross carrying amount close of period, land 41,993      
Gross carrying amount close of period, building and improvements 101,796      
Total 143,789      
Accumulated Depreciation 18,773      
Operating Properties | Fort Evans Plaza II        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 14,110      
Initial cost, building & improvements 38,655      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 8,066      
Gross carrying amount close of period, land 14,110      
Gross carrying amount close of period, building and improvements 46,721      
Total 60,831      
Accumulated Depreciation 9,074      
Operating Properties | Galvez Shopping Center        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 494      
Initial cost, building & improvements 4,946      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 282      
Gross carrying amount close of period, land 494      
Gross carrying amount close of period, building and improvements 5,228      
Total 5,722      
Accumulated Depreciation 1,319      
Operating Properties | Gardiner Manor        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 29,521      
Initial cost, building & improvements 19,446      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 10,110      
Gross carrying amount close of period, land 29,521      
Gross carrying amount close of period, building and improvements 29,556      
Total 59,077      
Accumulated Depreciation 7,167      
Operating Properties | Gateway Pavilions        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 44,167      
Initial cost, building & improvements 8,458      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 2,556      
Gross carrying amount close of period, land 44,167      
Gross carrying amount close of period, building and improvements 11,014      
Total 55,181      
Accumulated Depreciation 3,496      
Operating Properties | Gateway Plaza        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 15,608      
Initial cost, building & improvements 21,593      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 6,374      
Gross carrying amount close of period, land 15,608      
Gross carrying amount close of period, building and improvements 27,967      
Total 43,575      
Accumulated Depreciation 8,282      
Operating Properties | Gateway Station        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 10,679      
Initial cost, building & improvements 10,462      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 1,026      
Gross carrying amount close of period, land 10,679      
Gross carrying amount close of period, building and improvements 11,488      
Total 22,167      
Accumulated Depreciation 2,866      
Operating Properties | Gateway Village        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 32,045      
Initial cost, building & improvements 33,316      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 806      
Gross carrying amount close of period, land 32,045      
Gross carrying amount close of period, building and improvements 34,122      
Total 66,167      
Accumulated Depreciation 10,374      
Operating Properties | Geist Pavilion        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 1,368      
Initial cost, building & improvements 6,892      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 3,050      
Gross carrying amount close of period, land 1,368      
Gross carrying amount close of period, building and improvements 9,942      
Total 11,310      
Accumulated Depreciation 5,438      
Operating Properties | Gerry Centennial Plaza        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 3,448      
Initial cost, building & improvements 9,552      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 979      
Gross carrying amount close of period, land 3,448      
Gross carrying amount close of period, building and improvements 10,531      
Total 13,979      
Accumulated Depreciation 2,492      
Operating Properties | Glendale Town Center        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 1,442      
Initial cost, building & improvements 41,154      
Cost capitalized subsequent to acquisition/development, land (187)      
Cost capitalized subsequent to acquisition/development, building and improvements 26,472      
Gross carrying amount close of period, land 1,255      
Gross carrying amount close of period, building and improvements 67,626      
Total 68,881      
Accumulated Depreciation 39,676      
Operating Properties | Grapevine Crossing        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 7,021      
Initial cost, building & improvements 11,900      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 1,170      
Gross carrying amount close of period, land 7,021      
Gross carrying amount close of period, building and improvements 13,070      
Total 20,091      
Accumulated Depreciation 3,828      
Operating Properties | Green's Corner        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 4,716      
Initial cost, building & improvements 13,623      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 198      
Gross carrying amount close of period, land 4,716      
Gross carrying amount close of period, building and improvements 13,821      
Total 18,537      
Accumulated Depreciation 3,989      
Operating Properties | Greyhound Commons        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 2,629      
Initial cost, building & improvements 6      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 1,907      
Gross carrying amount close of period, land 2,629      
Gross carrying amount close of period, building and improvements 1,913      
Total 4,542      
Accumulated Depreciation 39      
Operating Properties | Gurnee Town Center        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 7,348      
Initial cost, building & improvements 20,471      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 1,261      
Gross carrying amount close of period, land 7,348      
Gross carrying amount close of period, building and improvements 21,732      
Total 29,080      
Accumulated Depreciation 6,242      
Operating Properties | Henry Town Center        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 9,353      
Initial cost, building & improvements 49,123      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 3,719      
Gross carrying amount close of period, land 9,353      
Gross carrying amount close of period, building and improvements 52,842      
Total 62,195      
Accumulated Depreciation 14,826      
Operating Properties | Heritage Square        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 11,373      
Initial cost, building & improvements 16,099      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 609      
Gross carrying amount close of period, land 11,373      
Gross carrying amount close of period, building and improvements 16,708      
Total 28,081      
Accumulated Depreciation 4,939      
Operating Properties | Heritage Towne Crossing        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 5,720      
Initial cost, building & improvements 14,696      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 461      
Gross carrying amount close of period, land 5,720      
Gross carrying amount close of period, building and improvements 15,157      
Total 20,877      
Accumulated Depreciation 4,144      
Operating Properties | Holly Springs Towne Center        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 22,324      
Initial cost, building & improvements 92,404      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 9,115      
Gross carrying amount close of period, land 22,324      
Gross carrying amount close of period, building and improvements 101,519      
Total 123,843      
Accumulated Depreciation 36,678      
Operating Properties | Home Depot Center        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 0      
Initial cost, building & improvements 20,122      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 462      
Gross carrying amount close of period, land 0      
Gross carrying amount close of period, building and improvements 20,584      
Total 20,584      
Accumulated Depreciation 5,819      
Operating Properties | Huebner Oaks        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 19,423      
Initial cost, building & improvements 35,404      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 3,427      
Gross carrying amount close of period, land 19,423      
Gross carrying amount close of period, building and improvements 38,831      
Total 58,254      
Accumulated Depreciation 8,950      
Operating Properties | Hunter's Creek Promenade        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 8,017      
Initial cost, building & improvements 12,258      
Cost capitalized subsequent to acquisition/development, land 179      
Cost capitalized subsequent to acquisition/development, building and improvements 2,035      
Gross carrying amount close of period, land 8,196      
Gross carrying amount close of period, building and improvements 14,293      
Total 22,489      
Accumulated Depreciation 6,312      
Operating Properties | Indian River Square        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 4,000      
Initial cost, building & improvements 5,690      
Cost capitalized subsequent to acquisition/development, land 1,100      
Cost capitalized subsequent to acquisition/development, building and improvements 6,109      
Gross carrying amount close of period, land 5,100      
Gross carrying amount close of period, building and improvements 11,799      
Total 16,899      
Accumulated Depreciation 5,053      
Operating Properties | Jefferson Commons        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 23,356      
Initial cost, building & improvements 19,473      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 4,507      
Gross carrying amount close of period, land 23,356      
Gross carrying amount close of period, building and improvements 23,980      
Total 47,336      
Accumulated Depreciation 6,702      
Operating Properties | John's Creek Village        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 7,668      
Initial cost, building & improvements 39,302      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 1,342      
Gross carrying amount close of period, land 7,668      
Gross carrying amount close of period, building and improvements 40,644      
Total 48,312      
Accumulated Depreciation 10,278      
Operating Properties | Killingly Commons        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 21,999      
Initial cost, building & improvements 29,649      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 2,562      
Gross carrying amount close of period, land 21,999      
Gross carrying amount close of period, building and improvements 32,211      
Total 54,210      
Accumulated Depreciation 11,702      
Operating Properties | King's Lake Square        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 4,519      
Initial cost, building & improvements 11,894      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 1,964      
Gross carrying amount close of period, land 4,519      
Gross carrying amount close of period, building and improvements 13,858      
Total 18,377      
Accumulated Depreciation 8,130      
Operating Properties | La Plaza Del Norte        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 18,113      
Initial cost, building & improvements 32,442      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 1,234      
Gross carrying amount close of period, land 18,113      
Gross carrying amount close of period, building and improvements 33,676      
Total 51,789      
Accumulated Depreciation 9,853      
Operating Properties | Lake City Commons        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 4,693      
Initial cost, building & improvements 11,348      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 692      
Gross carrying amount close of period, land 4,693      
Gross carrying amount close of period, building and improvements 12,040      
Total 16,733      
Accumulated Depreciation 4,770      
Operating Properties | Lake Mary Plaza        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 1,413      
Initial cost, building & improvements 8,447      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 433      
Gross carrying amount close of period, land 1,413      
Gross carrying amount close of period, building and improvements 8,880      
Total 10,293      
Accumulated Depreciation 3,354      
Operating Properties | Lake Worth Towne Crossing        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 6,228      
Initial cost, building & improvements 28,499      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 1,527      
Gross carrying amount close of period, land 6,228      
Gross carrying amount close of period, building and improvements 30,026      
Total 36,254      
Accumulated Depreciation 7,143      
Operating Properties | Lakewood Towne Center        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 27,219      
Initial cost, building & improvements 29,553      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 6,275      
Gross carrying amount close of period, land 27,219      
Gross carrying amount close of period, building and improvements 35,828      
Total 63,047      
Accumulated Depreciation 9,930      
Operating Properties | Lincoln Park        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 14,757      
Initial cost, building & improvements 39,830      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 1,324      
Gross carrying amount close of period, land 14,757      
Gross carrying amount close of period, building and improvements 41,154      
Total 55,911      
Accumulated Depreciation 11,749      
Operating Properties | Lincoln Plaza        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 6,239      
Initial cost, building & improvements 38,239      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 6,674      
Gross carrying amount close of period, land 6,239      
Gross carrying amount close of period, building and improvements 44,913      
Total 51,152      
Accumulated Depreciation 12,931      
Operating Properties | Lithia Crossing        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 3,065      
Initial cost, building & improvements 6,749      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 10,906      
Gross carrying amount close of period, land 3,065      
Gross carrying amount close of period, building and improvements 17,655      
Total 20,720      
Accumulated Depreciation 4,453      
Operating Properties | Lowe's Center        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 19,894      
Initial cost, building & improvements 0      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 310      
Gross carrying amount close of period, land 19,894      
Gross carrying amount close of period, building and improvements 310      
Total 20,204      
Accumulated Depreciation 4      
Operating Properties | MacArthur Crossing        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 11,190      
Initial cost, building & improvements 31,192      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 2,045      
Gross carrying amount close of period, land 11,190      
Gross carrying amount close of period, building and improvements 33,237      
Total 44,427      
Accumulated Depreciation 7,302      
Operating Properties | Main Street Promenade        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 2,630      
Initial cost, building & improvements 59,620      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 2,552      
Gross carrying amount close of period, land 2,630      
Gross carrying amount close of period, building and improvements 62,172      
Total 64,802      
Accumulated Depreciation 9,520      
Operating Properties | Manchester Meadows        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 10,788      
Initial cost, building & improvements 29,617      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 1,413      
Gross carrying amount close of period, land 10,788      
Gross carrying amount close of period, building and improvements 31,030      
Total 41,818      
Accumulated Depreciation 10,416      
Operating Properties | Mansfield Towne Crossing        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 2,966      
Initial cost, building & improvements 14,094      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 1,296      
Gross carrying amount close of period, land 2,966      
Gross carrying amount close of period, building and improvements 15,390      
Total 18,356      
Accumulated Depreciation 3,825      
Operating Properties | Market Street Village        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 9,764      
Initial cost, building & improvements 16,360      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 5,621      
Gross carrying amount close of period, land 9,764      
Gross carrying amount close of period, building and improvements 21,981      
Total 31,745      
Accumulated Depreciation 12,500      
Operating Properties | Merrifield Town Center        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 5,186      
Initial cost, building & improvements 41,059      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 2,135      
Gross carrying amount close of period, land 5,186      
Gross carrying amount close of period, building and improvements 43,194      
Total 48,380      
Accumulated Depreciation 8,813      
Operating Properties | Merrifield Town Center II        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 19,614      
Initial cost, building & improvements 23,042      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 159      
Gross carrying amount close of period, land 19,614      
Gross carrying amount close of period, building and improvements 23,201      
Total 42,815      
Accumulated Depreciation 4,897      
Operating Properties | Miramar Square        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 26,492      
Initial cost, building & improvements 30,549      
Cost capitalized subsequent to acquisition/development, land 387      
Cost capitalized subsequent to acquisition/development, building and improvements 10,410      
Gross carrying amount close of period, land 26,879      
Gross carrying amount close of period, building and improvements 40,959      
Total 67,838      
Accumulated Depreciation 15,888      
Operating Properties | Mullins Crossing        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 10,582      
Initial cost, building & improvements 38,619      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 7,569      
Gross carrying amount close of period, land 10,582      
Gross carrying amount close of period, building and improvements 46,188      
Total 56,770      
Accumulated Depreciation 20,296      
Operating Properties | Naperville Marketplace        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 5,364      
Initial cost, building & improvements 11,377      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 487      
Gross carrying amount close of period, land 5,364      
Gross carrying amount close of period, building and improvements 11,864      
Total 17,228      
Accumulated Depreciation 5,975      
Operating Properties | New Forest Crossing        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 7,175      
Initial cost, building & improvements 11,655      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 335      
Gross carrying amount close of period, land 7,175      
Gross carrying amount close of period, building and improvements 11,990      
Total 19,165      
Accumulated Depreciation 3,108      
Operating Properties | New Hyde Park Shopping Center        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 10,792      
Initial cost, building & improvements 9,450      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 850      
Gross carrying amount close of period, land 10,792      
Gross carrying amount close of period, building and improvements 10,300      
Total 21,092      
Accumulated Depreciation 1,891      
Operating Properties | Newnan Crossing        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 6,616      
Initial cost, building & improvements 40,543      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 2,197      
Gross carrying amount close of period, land 6,616      
Gross carrying amount close of period, building and improvements 42,740      
Total 49,356      
Accumulated Depreciation 12,997      
Operating Properties | Newton Crossroads        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 1,004      
Initial cost, building & improvements 10,752      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 422      
Gross carrying amount close of period, land 1,004      
Gross carrying amount close of period, building and improvements 11,174      
Total 12,178      
Accumulated Depreciation 3,207      
Operating Properties | Nora Plaza        
Real Estate Properties [Line Items]        
Encumbrances 3,068      
Initial cost, land 3,790      
Initial cost, building & improvements 19,508      
Cost capitalized subsequent to acquisition/development, land 5,002      
Cost capitalized subsequent to acquisition/development, building and improvements 39,357      
Gross carrying amount close of period, land 8,792      
Gross carrying amount close of period, building and improvements 58,865      
Total 67,657      
Accumulated Depreciation 10,627      
Operating Properties | North Benson Center        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 16,632      
Initial cost, building & improvements 9,703      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 2,791      
Gross carrying amount close of period, land 16,632      
Gross carrying amount close of period, building and improvements 12,494      
Total 29,126      
Accumulated Depreciation 3,218      
Operating Properties | Northcrest Shopping Center        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 4,044      
Initial cost, building & improvements 33,519      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 3,443      
Gross carrying amount close of period, land 4,044      
Gross carrying amount close of period, building and improvements 36,962      
Total 41,006      
Accumulated Depreciation 14,708      
Operating Properties | Northdale Promenade        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 1,718      
Initial cost, building & improvements 27,242      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 400      
Gross carrying amount close of period, land 1,718      
Gross carrying amount close of period, building and improvements 27,642      
Total 29,360      
Accumulated Depreciation 20,976      
Operating Properties | Northgate North        
Real Estate Properties [Line Items]        
Encumbrances 20,970      
Initial cost, land 20,063      
Initial cost, building & improvements 47,624      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 3,119      
Gross carrying amount close of period, land 20,063      
Gross carrying amount close of period, building and improvements 50,743      
Total 70,806      
Accumulated Depreciation 14,467      
Operating Properties | Northpointe Plaza        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 15,657      
Initial cost, building & improvements 34,002      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 1,880      
Gross carrying amount close of period, land 15,657      
Gross carrying amount close of period, building and improvements 35,882      
Total 51,539      
Accumulated Depreciation 10,134      
Operating Properties | Oak Brook Promenade        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 6,753      
Initial cost, building & improvements 48,281      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 10,177      
Gross carrying amount close of period, land 6,753      
Gross carrying amount close of period, building and improvements 58,458      
Total 65,211      
Accumulated Depreciation 12,644      
Operating Properties | Oleander Place        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 847      
Initial cost, building & improvements 5,226      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 507      
Gross carrying amount close of period, land 847      
Gross carrying amount close of period, building and improvements 5,733      
Total 6,580      
Accumulated Depreciation 3,345      
Operating Properties | One Loudoun Downtown        
Real Estate Properties [Line Items]        
Encumbrances 95,095      
Initial cost, land 74,400      
Initial cost, building & improvements 233,760      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 16,457      
Gross carrying amount close of period, land 74,400      
Gross carrying amount close of period, building and improvements 250,217      
Total 324,617      
Accumulated Depreciation 42,694      
Operating Properties | Oswego Commons        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 5,746      
Initial cost, building & improvements 8,036      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 7,544      
Gross carrying amount close of period, land 5,746      
Gross carrying amount close of period, building and improvements 15,580      
Total 21,326      
Accumulated Depreciation 3,872      
Operating Properties | Palms Plaza        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 12,049      
Initial cost, building & improvements 24,201      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 1,648      
Gross carrying amount close of period, land 12,049      
Gross carrying amount close of period, building and improvements 25,849      
Total 37,898      
Accumulated Depreciation 6,047      
Operating Properties | Parkside Town Commons        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 21,806      
Initial cost, building & improvements 104,283      
Cost capitalized subsequent to acquisition/development, land (60)      
Cost capitalized subsequent to acquisition/development, building and improvements 13,034      
Gross carrying amount close of period, land 21,746      
Gross carrying amount close of period, building and improvements 117,317      
Total 139,063      
Accumulated Depreciation 46,304      
Operating Properties | Parkside West Cobb        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 6,750      
Initial cost, building & improvements 31,276      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 375      
Gross carrying amount close of period, land 6,750      
Gross carrying amount close of period, building and improvements 31,651      
Total 38,401      
Accumulated Depreciation 2,168      
Operating Properties | Pebble Marketplace        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 7,504      
Initial cost, building & improvements 34,237      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 1,202      
Gross carrying amount close of period, land 7,504      
Gross carrying amount close of period, building and improvements 35,439      
Total 42,943      
Accumulated Depreciation 4,743      
Operating Properties | Pelham Manor Shopping Plaza        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 0      
Initial cost, building & improvements 41,998      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 700      
Gross carrying amount close of period, land 0      
Gross carrying amount close of period, building and improvements 42,698      
Total 42,698      
Accumulated Depreciation 8,826      
Operating Properties | Perimeter Woods        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 6,893      
Initial cost, building & improvements 27,204      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 5,876      
Gross carrying amount close of period, land 6,893      
Gross carrying amount close of period, building and improvements 33,080      
Total 39,973      
Accumulated Depreciation 12,962      
Operating Properties | Pine Ridge Crossing        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 5,640      
Initial cost, building & improvements 16,258      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 6,643      
Gross carrying amount close of period, land 5,640      
Gross carrying amount close of period, building and improvements 22,901      
Total 28,541      
Accumulated Depreciation 12,083      
Operating Properties | Plaza at Cedar Hill        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 5,782      
Initial cost, building & improvements 31,614      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 17,824      
Gross carrying amount close of period, land 5,782      
Gross carrying amount close of period, building and improvements 49,438      
Total 55,220      
Accumulated Depreciation 27,148      
Operating Properties | Plaza at Marysville        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 6,710      
Initial cost, building & improvements 18,373      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 354      
Gross carrying amount close of period, land 6,710      
Gross carrying amount close of period, building and improvements 18,727      
Total 25,437      
Accumulated Depreciation 5,614      
Operating Properties | Pleasant Hill Commons        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 3,350      
Initial cost, building & improvements 10,036      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements (128)      
Gross carrying amount close of period, land 3,350      
Gross carrying amount close of period, building and improvements 9,908      
Total 13,258      
Accumulated Depreciation 4,017      
Operating Properties | Pleasant Run Towne Crossing        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 4,465      
Initial cost, building & improvements 24,645      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 2,448      
Gross carrying amount close of period, land 4,465      
Gross carrying amount close of period, building and improvements 27,093      
Total 31,558      
Accumulated Depreciation 7,229      
Operating Properties | Prestonwood Place        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 14,282      
Initial cost, building & improvements 61,202      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 606      
Gross carrying amount close of period, land 14,282      
Gross carrying amount close of period, building and improvements 61,808      
Total 76,090      
Accumulated Depreciation 6,197      
Operating Properties | Publix at Woodruff        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 1,783      
Initial cost, building & improvements 6,285      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 1,063      
Gross carrying amount close of period, land 1,783      
Gross carrying amount close of period, building and improvements 7,348      
Total 9,131      
Accumulated Depreciation 5,987      
Operating Properties | Rampart Commons        
Real Estate Properties [Line Items]        
Encumbrances 4,772      
Initial cost, land 1,136      
Initial cost, building & improvements 40,065      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 1,575      
Gross carrying amount close of period, land 1,136      
Gross carrying amount close of period, building and improvements 41,640      
Total 42,776      
Accumulated Depreciation 20,222      
Operating Properties | Rangeline Crossing        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 1,981      
Initial cost, building & improvements 17,434      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 4,461      
Gross carrying amount close of period, land 1,981      
Gross carrying amount close of period, building and improvements 21,895      
Total 23,876      
Accumulated Depreciation 9,475      
Operating Properties | Riverchase Plaza        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 3,889      
Initial cost, building & improvements 10,826      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 1,396      
Gross carrying amount close of period, land 3,889      
Gross carrying amount close of period, building and improvements 12,222      
Total 16,111      
Accumulated Depreciation 6,746      
Operating Properties | Rivers Edge        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 5,647      
Initial cost, building & improvements 28,556      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 6,311      
Gross carrying amount close of period, land 5,647      
Gross carrying amount close of period, building and improvements 34,867      
Total 40,514      
Accumulated Depreciation 13,406      
Operating Properties | Rivery Towne Crossing        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 5,230      
Initial cost, building & improvements 2,154      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 1,176      
Gross carrying amount close of period, land 5,230      
Gross carrying amount close of period, building and improvements 3,330      
Total 8,560      
Accumulated Depreciation 1,028      
Operating Properties | Royal Oaks Village II        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 3,462      
Initial cost, building & improvements 9,006      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 866      
Gross carrying amount close of period, land 3,462      
Gross carrying amount close of period, building and improvements 9,872      
Total 13,334      
Accumulated Depreciation 2,664      
Operating Properties | Sawyer Heights Village        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 18,720      
Initial cost, building & improvements 19,354      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 725      
Gross carrying amount close of period, land 18,720      
Gross carrying amount close of period, building and improvements 20,079      
Total 38,799      
Accumulated Depreciation 4,346      
Operating Properties | Saxon Crossing        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 3,764      
Initial cost, building & improvements 15,133      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 1,337      
Gross carrying amount close of period, land 3,764      
Gross carrying amount close of period, building and improvements 16,470      
Total 20,234      
Accumulated Depreciation 6,552      
Operating Properties | Shoppes at Hagerstown        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 6,796      
Initial cost, building & improvements 15,803      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 925      
Gross carrying amount close of period, land 6,796      
Gross carrying amount close of period, building and improvements 16,728      
Total 23,524      
Accumulated Depreciation 3,559      
Operating Properties | Shoppes at Plaza Green        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 3,749      
Initial cost, building & improvements 20,528      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 9,485      
Gross carrying amount close of period, land 3,749      
Gross carrying amount close of period, building and improvements 30,013      
Total 33,762      
Accumulated Depreciation 12,223      
Operating Properties | Shoppes at Quarterfield        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 4,105      
Initial cost, building & improvements 8,703      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 650      
Gross carrying amount close of period, land 4,105      
Gross carrying amount close of period, building and improvements 9,353      
Total 13,458      
Accumulated Depreciation 1,557      
Operating Properties | Shoppes of Eastwood        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 1,688      
Initial cost, building & improvements 8,911      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 1,145      
Gross carrying amount close of period, land 1,688      
Gross carrying amount close of period, building and improvements 10,056      
Total 11,744      
Accumulated Depreciation 6,256      
Operating Properties | Shoppes of New Hope        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 2,107      
Initial cost, building & improvements 10,559      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 241      
Gross carrying amount close of period, land 2,107      
Gross carrying amount close of period, building and improvements 10,800      
Total 12,907      
Accumulated Depreciation 2,553      
Operating Properties | Shoppes of Prominence Point        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 2,945      
Initial cost, building & improvements 11,078      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 638      
Gross carrying amount close of period, land 2,945      
Gross carrying amount close of period, building and improvements 11,716      
Total 14,661      
Accumulated Depreciation 2,890      
Operating Properties | Shops at Eagle Creek        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 2,121      
Initial cost, building & improvements 7,966      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 5,024      
Gross carrying amount close of period, land 2,121      
Gross carrying amount close of period, building and improvements 12,990      
Total 15,111      
Accumulated Depreciation 7,212      
Operating Properties | Shops at Forest Commons        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 1,616      
Initial cost, building & improvements 9,320      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 686      
Gross carrying amount close of period, land 1,616      
Gross carrying amount close of period, building and improvements 10,006      
Total 11,622      
Accumulated Depreciation 2,730      
Operating Properties | Shops at Julington Creek        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 2,372      
Initial cost, building & improvements 7,241      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 521      
Gross carrying amount close of period, land 2,372      
Gross carrying amount close of period, building and improvements 7,762      
Total 10,134      
Accumulated Depreciation 2,784      
Operating Properties | Shops at Moore        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 6,284      
Initial cost, building & improvements 23,159      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 4,531      
Gross carrying amount close of period, land 6,284      
Gross carrying amount close of period, building and improvements 27,690      
Total 33,974      
Accumulated Depreciation 10,060      
Operating Properties | Silver Springs Pointe        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 7,580      
Initial cost, building & improvements 4,947      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 567      
Gross carrying amount close of period, land 7,580      
Gross carrying amount close of period, building and improvements 5,514      
Total 13,094      
Accumulated Depreciation 2,897      
Operating Properties | Southlake Corners        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 7,998      
Initial cost, building & improvements 16,529      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 641      
Gross carrying amount close of period, land 7,998      
Gross carrying amount close of period, building and improvements 17,170      
Total 25,168      
Accumulated Depreciation 5,329      
Operating Properties | Southlake Town Square        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 19,534      
Initial cost, building & improvements 319,696      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 27,544      
Gross carrying amount close of period, land 19,534      
Gross carrying amount close of period, building and improvements 347,240      
Total 366,774      
Accumulated Depreciation 97,664      
Operating Properties | Stilesboro Oaks        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 3,712      
Initial cost, building & improvements 11,268      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 407      
Gross carrying amount close of period, land 3,712      
Gross carrying amount close of period, building and improvements 11,675      
Total 15,387      
Accumulated Depreciation 3,343      
Operating Properties | Stonebridge Plaza        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 1,923      
Initial cost, building & improvements 7,917      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 324      
Gross carrying amount close of period, land 1,923      
Gross carrying amount close of period, building and improvements 8,241      
Total 10,164      
Accumulated Depreciation 2,350      
Operating Properties | Sunland Towne Centre        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 14,774      
Initial cost, building & improvements 21,949      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 6,730      
Gross carrying amount close of period, land 14,774      
Gross carrying amount close of period, building and improvements 28,679      
Total 43,453      
Accumulated Depreciation 15,607      
Operating Properties | Tacoma South        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 30,058      
Initial cost, building & improvements 3,291      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 1,257      
Gross carrying amount close of period, land 30,058      
Gross carrying amount close of period, building and improvements 4,548      
Total 34,606      
Accumulated Depreciation 1,145      
Operating Properties | Target South Center        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 2,581      
Initial cost, building & improvements 9,553      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 136      
Gross carrying amount close of period, land 2,581      
Gross carrying amount close of period, building and improvements 9,689      
Total 12,270      
Accumulated Depreciation 2,821      
Operating Properties | Tarpon Bay Plaza        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 3,855      
Initial cost, building & improvements 23,796      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 3,180      
Gross carrying amount close of period, land 3,855      
Gross carrying amount close of period, building and improvements 26,976      
Total 30,831      
Accumulated Depreciation 12,811      
Operating Properties | The Brickyard        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 29,389      
Initial cost, building & improvements 19,134      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 5,836      
Gross carrying amount close of period, land 29,389      
Gross carrying amount close of period, building and improvements 24,970      
Total 54,359      
Accumulated Depreciation 6,905      
Operating Properties | The Corner        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 3,772      
Initial cost, building & improvements 23,437      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 359      
Gross carrying amount close of period, land 3,772      
Gross carrying amount close of period, building and improvements 23,796      
Total 27,568      
Accumulated Depreciation 8,235      
Operating Properties | The Landing at Tradition        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 1,300      
Initial cost, building & improvements 0      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 64      
Gross carrying amount close of period, land 1,300      
Gross carrying amount close of period, building and improvements 64      
Total 1,364      
Accumulated Depreciation 0      
Operating Properties | The Shoppes at Union Hill        
Real Estate Properties [Line Items]        
Encumbrances 6,832      
Initial cost, land 9,876      
Initial cost, building & improvements 46,208      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 2,208      
Gross carrying amount close of period, land 9,876      
Gross carrying amount close of period, building and improvements 48,416      
Total 58,292      
Accumulated Depreciation 12,241      
Operating Properties | The Shops at Legacy        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 14,864      
Initial cost, building & improvements 118,380      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 16,359      
Gross carrying amount close of period, land 14,864      
Gross carrying amount close of period, building and improvements 134,739      
Total 149,603      
Accumulated Depreciation 34,752      
Operating Properties | Tollgate Marketplace        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 11,963      
Initial cost, building & improvements 64,856      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 15,581      
Gross carrying amount close of period, land 11,963      
Gross carrying amount close of period, building and improvements 80,437      
Total 92,400      
Accumulated Depreciation 20,957      
Operating Properties | Toringdon Market        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 5,448      
Initial cost, building & improvements 9,025      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 1,251      
Gross carrying amount close of period, land 5,448      
Gross carrying amount close of period, building and improvements 10,276      
Total 15,724      
Accumulated Depreciation 4,711      
Operating Properties | Towson Square        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 1,412      
Initial cost, building & improvements 26,684      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 352      
Gross carrying amount close of period, land 1,412      
Gross carrying amount close of period, building and improvements 27,036      
Total 28,448      
Accumulated Depreciation 5,170      
Operating Properties | Traders Point        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 11,135      
Initial cost, building & improvements 41,871      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 3,447      
Gross carrying amount close of period, land 11,135      
Gross carrying amount close of period, building and improvements 45,318      
Total 56,453      
Accumulated Depreciation 28,803      
Operating Properties | Tradition Village Center        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 3,140      
Initial cost, building & improvements 14,576      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 1,773      
Gross carrying amount close of period, land 3,140      
Gross carrying amount close of period, building and improvements 16,349      
Total 19,489      
Accumulated Depreciation 7,214      
Operating Properties | Tysons Corner        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 13,334      
Initial cost, building & improvements 10,407      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 140      
Gross carrying amount close of period, land 13,334      
Gross carrying amount close of period, building and improvements 10,547      
Total 23,881      
Accumulated Depreciation 1,979      
Operating Properties | Village Commons        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 24,080      
Initial cost, building & improvements 38,037      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 33      
Gross carrying amount close of period, land 24,080      
Gross carrying amount close of period, building and improvements 38,070      
Total 62,150      
Accumulated Depreciation 2,514      
Operating Properties | Village Shoppes at Simonton        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 1,627      
Initial cost, building & improvements 11,633      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 133      
Gross carrying amount close of period, land 1,627      
Gross carrying amount close of period, building and improvements 11,766      
Total 13,393      
Accumulated Depreciation 2,904      
Operating Properties | Walter's Crossing        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 13,056      
Initial cost, building & improvements 20,656      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 4,271      
Gross carrying amount close of period, land 13,056      
Gross carrying amount close of period, building and improvements 24,927      
Total 37,983      
Accumulated Depreciation 5,801      
Operating Properties | Waterford Lakes Village        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 2,317      
Initial cost, building & improvements 1,773      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 11,592      
Gross carrying amount close of period, land 2,317      
Gross carrying amount close of period, building and improvements 13,365      
Total 15,682      
Accumulated Depreciation 2,528      
Operating Properties | Waxahachie Crossing        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 1,411      
Initial cost, building & improvements 15,698      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 10      
Gross carrying amount close of period, land 1,411      
Gross carrying amount close of period, building and improvements 15,708      
Total 17,119      
Accumulated Depreciation 5,733      
Operating Properties | Westbury Center        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 4,540      
Initial cost, building & improvements 12,866      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 142      
Gross carrying amount close of period, land 4,540      
Gross carrying amount close of period, building and improvements 13,008      
Total 17,548      
Accumulated Depreciation 3,553      
Operating Properties | Winchester Commons        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 2,119      
Initial cost, building & improvements 9,325      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 115      
Gross carrying amount close of period, land 2,119      
Gross carrying amount close of period, building and improvements 9,440      
Total 11,559      
Accumulated Depreciation 2,762      
Operating Properties | Woodinville Plaza        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 24,722      
Initial cost, building & improvements 29,830      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 6,186      
Gross carrying amount close of period, land 24,722      
Gross carrying amount close of period, building and improvements 36,016      
Total 60,738      
Accumulated Depreciation 9,205      
Office and Other Properties        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 7,384      
Initial cost, building & improvements 82,340      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 47,280      
Gross carrying amount close of period, land 7,384      
Gross carrying amount close of period, building and improvements 129,620      
Total 137,004      
Accumulated Depreciation 32,050      
Office and Other Properties | Carillon MOB        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 593      
Initial cost, building & improvements 22,877      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 535      
Gross carrying amount close of period, land 593      
Gross carrying amount close of period, building and improvements 23,412      
Total 24,005      
Accumulated Depreciation 1,436      
Office and Other Properties | Thirty South Meridian        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 1,643      
Initial cost, building & improvements 5,795      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 33,082      
Gross carrying amount close of period, land 1,643      
Gross carrying amount close of period, building and improvements 38,877      
Total 40,520      
Accumulated Depreciation 19,395      
Office and Other Properties | Union Station Parking Garage        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 904      
Initial cost, building & improvements 2,310      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 2,281      
Gross carrying amount close of period, land 904      
Gross carrying amount close of period, building and improvements 4,591      
Total 5,495      
Accumulated Depreciation 2,577      
Office and Other Properties | Eastgate Crossing        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 4,244      
Initial cost, building & improvements 51,358      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 11,382      
Gross carrying amount close of period, land 4,244      
Gross carrying amount close of period, building and improvements 62,740      
Total 66,984      
Accumulated Depreciation 8,642      
Development and Redevelopment Projects        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 111,091      
Initial cost, building & improvements 3,498      
Cost capitalized subsequent to acquisition/development, land (107)      
Cost capitalized subsequent to acquisition/development, building and improvements 34,906      
Gross carrying amount close of period, land 110,984      
Gross carrying amount close of period, building and improvements 38,404      
Total 149,388      
Accumulated Depreciation 953      
Development and Redevelopment Projects | Carillon        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 19,339      
Initial cost, building & improvements 2,013      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 5,103      
Gross carrying amount close of period, land 19,339      
Gross carrying amount close of period, building and improvements 7,116      
Total 26,455      
Accumulated Depreciation 952      
Development and Redevelopment Projects | Hamilton Crossing Centre        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 3,139      
Initial cost, building & improvements 1,485      
Cost capitalized subsequent to acquisition/development, land (19)      
Cost capitalized subsequent to acquisition/development, building and improvements 2,727      
Gross carrying amount close of period, land 3,120      
Gross carrying amount close of period, building and improvements 4,212      
Total 7,332      
Accumulated Depreciation 0      
Development and Redevelopment Projects | One Loudoun – Uptown        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 88,613      
Initial cost, building & improvements 0      
Cost capitalized subsequent to acquisition/development, land (88)      
Cost capitalized subsequent to acquisition/development, building and improvements 27,076      
Gross carrying amount close of period, land 88,525      
Gross carrying amount close of period, building and improvements 27,076      
Total 115,601      
Accumulated Depreciation 1      
Development and Redevelopment Projects | The Corner – IN        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 0      
Initial cost, building & improvements 0      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 0      
Gross carrying amount close of period, land 0      
Gross carrying amount close of period, building and improvements 0      
Total 0      
Accumulated Depreciation 0      
Other        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 1,947      
Initial cost, building & improvements 0      
Cost capitalized subsequent to acquisition/development, land 130      
Cost capitalized subsequent to acquisition/development, building and improvements 0      
Gross carrying amount close of period, land 2,077      
Gross carrying amount close of period, building and improvements 0      
Total 2,077      
Accumulated Depreciation 0      
Other | Bridgewater Marketplace        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 855      
Initial cost, building & improvements 0      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 0      
Gross carrying amount close of period, land 855      
Gross carrying amount close of period, building and improvements 0      
Total 855      
Accumulated Depreciation 0      
Other | KRG Development        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 0      
Initial cost, building & improvements 0      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 0      
Gross carrying amount close of period, land 0      
Gross carrying amount close of period, building and improvements 0      
Total 0      
Accumulated Depreciation 0      
Other | KRG New Hill        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 1,092      
Initial cost, building & improvements 0      
Cost capitalized subsequent to acquisition/development, land 130      
Cost capitalized subsequent to acquisition/development, building and improvements 0      
Gross carrying amount close of period, land 1,222      
Gross carrying amount close of period, building and improvements 0      
Total 1,222      
Accumulated Depreciation 0      
Other | KRG Peakway        
Real Estate Properties [Line Items]        
Encumbrances 0      
Initial cost, land 0      
Initial cost, building & improvements 0      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 0      
Gross carrying amount close of period, land 0      
Gross carrying amount close of period, building and improvements 0      
Total 0      
Accumulated Depreciation 0      
Line of credit/Term loans/Unsecured notes        
Real Estate Properties [Line Items]        
Encumbrances 2,885,000      
Initial cost, land 0      
Initial cost, building & improvements 0      
Cost capitalized subsequent to acquisition/development, land 0      
Cost capitalized subsequent to acquisition/development, building and improvements 0      
Gross carrying amount close of period, land 0      
Gross carrying amount close of period, building and improvements 0      
Total 0      
Accumulated Depreciation $ 0      
v3.25.4
Schedule III - Consolidated Real Estate and Accumulated Depreciation - Reconciliation of Investment Properties (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]      
Balance as of January 1, $ 7,634,191 $ 7,740,061 $ 7,732,573
Acquisitions 62,117 38,101 75,587
Property held for sale (12,944) (105,828) 0
Improvements 150,976 139,895 140,654
Impairment of property (41,018) (101,678) 0
Disposals (789,843) (76,360) (208,753)
Balance as of December 31, 7,003,479 $ 7,634,191 $ 7,740,061
Federal income tax basis $ 8,400,000    
v3.25.4
Schedule III - Consolidated Real Estate and Accumulated Depreciation - Reconciliation of Accumulated Depreciation (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]      
Balance as of January 1, $ 1,587,661 $ 1,381,770 $ 1,161,148
Depreciation expense 310,837 314,632 317,593
Property held for sale 0 (1,360) 0
Impairment of property (6,339) (35,477) 0
Disposals (235,968) (71,904) (96,971)
Balance as of December 31, $ 1,656,191 $ 1,587,661 $ 1,381,770
Buildings | Minimum      
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]      
Estimated useful life (in years) 20 years    
Buildings | Maximum      
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]      
Estimated useful life (in years) 35 years    
Building improvements | Minimum      
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]      
Estimated useful life (in years) 10 years    
Building improvements | Maximum      
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]      
Estimated useful life (in years) 35 years    
Furniture and fixtures | Minimum      
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]      
Estimated useful life (in years) 5 years    
Furniture and fixtures | Maximum      
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]      
Estimated useful life (in years) 10 years