Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v2.4.1.9
Consolidated Balance Sheets (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2014
Dec. 31, 2013
Assets    
Land $ 543,546us-gaap_Land $ 426,575us-gaap_Land
Income producing property 1,927,407us-gaap_RentalProperties 1,675,652us-gaap_RentalProperties
Real estate investment property, at cost 2,470,953us-gaap_RealEstateInvestmentPropertyAtCost 2,102,227us-gaap_RealEstateInvestmentPropertyAtCost
Accumulated depreciation and amortization (640,434)us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation (565,342)us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation
Net income producing property 1,830,519us-gaap_RealEstateInvestments 1,536,885us-gaap_RealEstateInvestments
Properties under development or held for future development 76,235us-gaap_DevelopmentInProcess 61,315us-gaap_DevelopmentInProcess
Total real estate held for investment, net 1,906,754us-gaap_RealEstateInvestmentPropertyNet 1,598,200us-gaap_RealEstateInvestmentPropertyNet
Investment in real estate sold or held for sale, net 0us-gaap_RealEstateHeldforsale 79,901us-gaap_RealEstateHeldforsale
Cash and cash equivalents 15,827us-gaap_CashAndCashEquivalentsAtCarryingValue 130,343us-gaap_CashAndCashEquivalentsAtCarryingValue
Restricted cash 10,299us-gaap_RestrictedCashAndCashEquivalents 9,189us-gaap_RestrictedCashAndCashEquivalents
Rents and other receivables, net of allowance for doubtful accounts of $3,392 and $6,783, respectively 59,745us-gaap_AccountsAndNotesReceivableNet 48,756us-gaap_AccountsAndNotesReceivableNet
Prepaid expenses and other assets 121,082us-gaap_PrepaidExpenseAndOtherAssets 105,004us-gaap_PrepaidExpenseAndOtherAssets
Other assets related to properties sold or held for sale 0us-gaap_DisposalGroupIncludingDiscontinuedOperationOtherCurrentAssets 4,100us-gaap_DisposalGroupIncludingDiscontinuedOperationOtherCurrentAssets
Total assets 2,113,707us-gaap_Assets 1,975,493us-gaap_Assets
Liabilities    
Notes payable 747,208us-gaap_NotesPayable 846,703us-gaap_NotesPayable
Mortgage notes payable 418,525us-gaap_SecuredDebt 294,671us-gaap_SecuredDebt
Lines of credit 50,000us-gaap_LineOfCredit 0us-gaap_LineOfCredit
Accounts payable and other liabilities 54,318us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent 51,742us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
Advance rents 12,528us-gaap_AdvanceRent 13,529us-gaap_AdvanceRent
Tenant security deposits 8,899us-gaap_SecurityDepositLiability 7,869us-gaap_SecurityDepositLiability
Other liabilities related to properties sold or held for sale 0us-gaap_LiabilitiesOfDisposalGroupIncludingDiscontinuedOperation 1,533us-gaap_LiabilitiesOfDisposalGroupIncludingDiscontinuedOperation
Total liabilities 1,291,478us-gaap_Liabilities 1,216,047us-gaap_Liabilities
Shareholders' equity    
Preferred shares; $0.01 par value; 10,000 shares authorized; no shares issued or outstanding 0us-gaap_PreferredStockValue 0us-gaap_PreferredStockValue
Shares of beneficial interest; $0.01 par value; 100,000 shares authorized: 67,819 and 66,531 shares issued and outstanding at December 31, 2014 and 2013, respectively 678us-gaap_CommonStockValue 665us-gaap_CommonStockValue
Additional paid in capital 1,184,395us-gaap_AdditionalPaidInCapital 1,151,174us-gaap_AdditionalPaidInCapital
Distributions in excess of net income (365,518)us-gaap_RetainedEarningsAccumulatedDeficit (396,880)us-gaap_RetainedEarningsAccumulatedDeficit
Total shareholders’ equity 819,555us-gaap_StockholdersEquity 754,959us-gaap_StockholdersEquity
Noncontrolling interests in subsidiaries 2,674us-gaap_MinorityInterest 4,487us-gaap_MinorityInterest
Total equity 822,229us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest 759,446us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
Total liabilities and shareholders’ equity $ 2,113,707us-gaap_LiabilitiesAndStockholdersEquity $ 1,975,493us-gaap_LiabilitiesAndStockholdersEquity