Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2017
Dec. 31, 2016
Assets    
Land $ 616,444 $ 573,315
Income producing property 2,201,846 2,112,088
Real estate investment property, at cost 2,818,290 2,685,403
Accumulated depreciation and amortization (691,515) (657,425)
Net income producing property 2,126,775 2,027,978
Properties under development or held for future development 46,154 40,232
Total real estate held for investment, net 2,172,929 2,068,210
Investment in real estate sold or held for sale, net 6,983 0
Cash and cash equivalents 13,237 11,305
Restricted cash 1,506 6,317
Rents and other receivables, net of allowance for doubtful accounts of $2,274 and $2,377, respectively 72,149 64,319
Prepaid expenses and other assets 121,005 103,468
Other assets related to properties sold or held for sale 303 0
Total assets 2,388,112 2,253,619
Liabilities    
Notes payable, net 893,763 843,084
Mortgage notes payable, net 96,934 148,540
Lines of credit 228,000 120,000
Accounts payable and other liabilities 60,165 46,967
Dividend payable 0 22,414
Advance rents 11,956 11,750
Tenant security deposits 9,263 8,802
Liabilities related to properties sold or held for sale 322 0
Total liabilities 1,300,403 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; 76,926 and 74,606 shares issued and outstanding, respectively 769 746
Additional paid in capital 1,435,994 1,368,636
Distributions in excess of net income (357,308) (326,047)
Accumulated other comprehensive income 6,857 7,611
Total shareholders’ equity 1,086,312 1,050,946
Noncontrolling interests in subsidiaries 1,397 1,116
Total equity 1,087,709 1,052,062
Total liabilities and equity $ 2,388,112 $ 2,253,619