Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2018
Dec. 31, 2017
Assets    
Land $ 614,659 $ 588,025
Income producing property 2,211,529 2,113,977
Real estate investment property, at cost 2,826,188 2,702,002
Accumulated depreciation and amortization (698,450) (683,692)
Net income producing property 2,127,738 2,018,310
Properties under development or held for future development 61,712 54,422
Real Estate Investment Property, Net 2,189,450 2,072,732
Investment in real estate sold or held for sale, net 93,048 68,534
Cash and cash equivalents 11,510 9,847
Restricted cash 2,469 2,776
Rents and other receivables, net of allowance for doubtful accounts of $2,539 and $2,426, respectively 71,499 69,766
Prepaid expenses and other assets 148,088 125,087
Other assets related to properties sold or held for sale 2,231 10,684
Total assets 2,518,295 2,359,426
Liabilities    
Notes payable, net 994,425 894,358
Mortgage notes payable, net 93,991 95,141
Lines of credit 260,000 166,000
Accounts payable and other liabilities 64,823 61,565
Dividend payable 0 23,581
Advance rents 12,441 12,487
Tenant security deposits 9,466 9,149
Liabilities related to properties sold or held for sale 2,385 1,809
Total liabilities 1,437,531 1,264,090
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; 78,636 and 78,510 shares issued and outstanding, respectively 786 785
Additional paid in capital 1,485,765 1,483,980
Distributions in excess of net income (419,633) (399,213)
Accumulated other comprehensive income 13,484 9,419
Total shareholders’ equity 1,080,402 1,094,971
Noncontrolling interests in subsidiaries 362 365
Total equity 1,080,764 1,095,336
Total liabilities and equity $ 2,518,295 $ 2,359,426