Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

v3.7.0.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2017
Dec. 31, 2016
Assets    
Land $ 573,315 $ 573,315
Income producing property 2,123,807 2,112,088
Real estate investment property, at cost 2,697,122 2,685,403
Accumulated depreciation and amortization (680,231) (657,425)
Net income producing property 2,016,891 2,027,978
Properties under development or held for future development 42,914 40,232
Total real estate held for investment, net 2,059,805 2,068,210
Cash and cash equivalents 15,214 11,305
Restricted cash 1,430 6,317
Rents and other receivables, net of allowance for doubtful accounts of $2,430 and $2,377, respectively 69,038 64,319
Prepaid expenses and other assets 108,622 103,468
Total assets 2,254,109 2,253,619
Liabilities    
Notes payable, net 893,424 843,084
Mortgage notes payable, net 97,814 148,540
Lines of credit 123,000 120,000
Accounts payable and other liabilities 50,684 46,967
Dividend payable 0 22,414
Advance rents 11,948 11,750
Tenant security deposits 9,002 8,802
Total liabilities 1,185,872 1,201,557
Shareholders’ equity    
Preferred shares; $0.01 par value; 10,000 shares authorized; no shares issued or outstanding 0 0
Shares of beneficial interest, $0.01 par value; 100,000 shares authorized; 75,702 and 74,606 shares issued and outstanding, respectively 757 746
Additional paid in capital 1,400,093 1,368,636
Distributions in excess of net income (342,020) (326,047)
Accumulated other comprehensive loss 8,346 7,611
Total shareholders’ equity 1,067,176 1,050,946
Noncontrolling interests in subsidiaries 1,061 1,116
Total equity 1,068,237 1,052,062
Total liabilities and equity $ 2,254,109 $ 2,253,619