Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

v3.19.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2019
Dec. 31, 2018
Assets    
Land $ 612,692 $ 614,659
Income producing property 2,276,385 2,271,926
Net income producing property, at cost 2,889,077 2,886,585
Accumulated depreciation and amortization (781,302) (770,535)
Net income producing property 2,107,775 2,116,050
Properties under development or held for future development 97,288 87,231
Total real estate held for investment, net 2,205,063 2,203,281
Cash and cash equivalents 12,025 6,016
Restricted cash 1,368 1,624
Rents and other receivables 73,293 73,861
Prepaid expenses and other assets 116,718 132,322
Total assets 2,408,467 2,417,104
Liabilities    
Notes payable, net 995,750 995,397
Mortgage notes payable, net 58,805 59,792
Line of credit 228,000 188,000
Accounts payable and other liabilities 67,279 59,567
Dividend payable 0 24,022
Advance rents 10,418 11,736
Tenant security deposits 10,019 10,112
Total liabilities 1,370,271 1,348,626
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; 80,029 and 79,910 shares issued and outstanding, as of March 31, 2019 and December 31, 2018, respectively 800 799
Additional paid in capital 1,529,916 1,526,574
Distributions in excess of net income (498,537) (469,085)
Accumulated other comprehensive income 5,670 9,839
Total shareholders’ equity 1,037,849 1,068,127
Noncontrolling interests in subsidiaries 347 351
Total equity 1,038,196 1,068,478
Total liabilities and equity $ 2,408,467 $ 2,417,104