The activity wasn't limited to a particular part of the county either, Silberfein noted. “We are seeing solid demand across our portfolio geographically. New leases were up 37.5%. Renewals were up .9%.” Financing was another source of strength for Rouse, he said. “During the year we completed $183 million of refinancing, generating net proceeds over $32 million.”

On the upgrade front, Rouse has been aggressive and plans to continue making improvements, Silberfein said. “In just our first year we have either completed, commenced or will soon commence capital improvement plans at over 30 percent of our malls. We recently have begun two capital improvement projects, including Lakeland, with a projected cost of $18 million,.”

During 2013, he continued, “We expect to commence another three or four capital projects, with the cost expected to be $25 to $30 million. Additionally, our malls will undergo cosmetic renovations of $15 million to $20 million. We expect all of this renovation to be completed within the next 12 to 18 months.

The company didn't reveal specific acquisition plans for 2013 but made clear that it will pick up properties. “We expect to be active in 2013,” said Silberfein. “We continue to see a good amount of deal flow, from private sellers, special servicers and public REITs, and we're seeing cap rates of 7% to 8%.”

Rouse is providing initial guidance for 2013 Core FFO in the range of $1.49 to $1.55 per diluted share. Those numbers don't include any refinancings or acquisitions, noted CFO John Wain, because “we are implementing our asset by asset strategy and until we make our improvements, it may not be the opportune time to refinance.”