Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets (USD $)
In Thousands, unless otherwise specified
Sep. 30, 2013
Dec. 31, 2012
Assets    
Land $ 418,008 $ 418,008
Income producing property 1,624,617 1,587,375
Real estate investment property, at cost 2,042,625 2,005,383
Accumulated depreciation and amortization (548,549) (497,057)
Net income producing property 1,494,076 1,508,326
Properties under development or held for future development 55,580 45,270
Total real estate held for investment, net 1,549,656 1,553,596
Investment in real estate sold or held for sale, net 346,157 364,999
Cash and cash equivalents 7,923 19,105
Restricted cash 7,547 13,423
Rents and other receivables, net of allowance for doubtful accounts of $8,271 and $10,442, respectively 48,619 46,904
Prepaid expenses and other assets 110,116 107,303
Other assets related to properties sold or held for sale 18,337 19,046
Total assets 2,088,355 2,124,376
Liabilities    
Notes payable 846,576 906,190
Mortgage notes payable 290,838 319,025
Lines of credit 85,000 0
Accounts payable and other liabilities 57,116 50,094
Advance rents 11,749 12,925
Tenant security deposits 7,639 7,642
Liabilities related to properties sold or held for sale 31,275 32,357
Total liabilities 1,330,193 1,328,233
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: 66,500 and 66,437 shares issued and outstanding at September 30, 2013 and December 31, 2012, respectively 665 664
Additional paid in capital 1,148,837 1,145,515
Distributions in excess of net income (395,816) (354,122)
Total shareholders’ equity 753,686 792,057
Noncontrolling interests in subsidiaries 4,476 4,086
Total equity 758,162 796,143
Total liabilities and equity $ 2,088,355 $ 2,124,376