Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v2.4.0.8
Consolidated Balance Sheets (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2013
Dec. 31, 2012
Assets    
Land $ 426,575 $ 418,008
Income producing property 1,675,652 1,587,375
Real estate investment property, at cost 2,102,227 2,005,383
Accumulated depreciation and amortization (565,342) (497,057)
Net income producing property 1,536,885 1,508,326
Properties under development or held for future development 61,315 45,270
Total real estate held for investment, net 1,598,200 1,553,596
Investment in real estate sold or held for sale, net 79,901 364,999
Cash and cash equivalents 130,343 19,105
Restricted cash 9,189 13,423
Rents and other receivables, net of allowance for doubtful accounts of $6,783 and $10,443, respectively 48,756 46,904
Prepaid expenses and other assets 105,004 107,303
Other assets related to properties sold or held for sale 4,100 19,046
Total assets 1,975,493 2,124,376
Liabilities    
Notes payable 846,703 906,190
Mortgage notes payable 294,671 319,025
Lines of credit 0 0
Accounts payable and other liabilities 51,742 50,094
Advance rents 13,529 12,925
Tenant security deposits 7,869 7,642
Other liabilities related to properties sold or held for sale 1,533 32,357
Total liabilities 1,216,047 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: 66,531 and 66,437 shares issued and outstanding at December 31, 2013 and 2012, respectively 665 664
Additional paid in capital 1,151,174 1,145,515
Distributions in excess of net income (396,880) (354,122)
Total shareholders’ equity 754,959 792,057
Noncontrolling interests in subsidiaries 4,487 4,086
Total equity 759,446 796,143
Total liabilities and shareholders’ equity $ 1,975,493 $ 2,124,376