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, 2014
Dec. 31, 2013
Assets    
Land $ 519,859 $ 426,575
Income producing property 1,867,752 1,675,652
Real estate investment property, at cost 2,387,611 2,102,227
Accumulated depreciation and amortization (620,279) (565,342)
Net income producing property 1,767,332 1,536,885
Properties under development or held for future development 99,500 61,315
Total real estate held for investment, net 1,866,832 1,598,200
Investment in real estate sold or held for sale, net 0 79,901
Cash and cash equivalents 8,571 130,343
Restricted cash 9,496 9,189
Rents and other receivables, net of allowance for doubtful accounts of $5,519 and $6,783, respectively 58,135 48,756
Prepaid expenses and other assets 116,345 105,004
Other assets related to properties sold or held for sale 0 4,100
Total assets 2,059,379 1,975,493
Liabilities    
Notes payable 747,082 846,703
Mortgage notes payable 413,330 294,671
Lines of credit 5,000 0
Accounts payable and other liabilities 64,153 51,742
Advance rents 12,211 13,529
Tenant security deposits 8,625 7,869
Liabilities related to properties sold or held for sale 0 1,533
Total liabilities 1,250,401 1,216,047
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: 66,663 and 66,531 shares issued and outstanding at September 30, 2014 and December 31, 2013, respectively 667 665
Additional paid in capital 1,153,344 1,151,174
Distributions in excess of net income (347,724) (396,880)
Total shareholders’ equity 806,287 754,959
Noncontrolling interests in subsidiaries 2,691 4,487
Total equity 808,978 759,446
Total liabilities and equity $ 2,059,379 $ 1,975,493