|
Consolidated Statements Of Income (USD $)
In Thousands, except Per Share data, unless otherwise specified |
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
|
| Revenue | |||
| Real estate rental revenue | $ 288,637us-gaap_RealEstateRevenueNet | $ 263,024us-gaap_RealEstateRevenueNet | $ 254,794us-gaap_RealEstateRevenueNet |
| Expenses | |||
| Utilities | 18,056us-gaap_UtilitiesOperatingExpense | 16,311us-gaap_UtilitiesOperatingExpense | 15,781us-gaap_UtilitiesOperatingExpense |
| Real estate taxes | 33,436us-gaap_RealEstateTaxExpense | 29,052us-gaap_RealEstateTaxExpense | 27,064us-gaap_RealEstateTaxExpense |
| Repairs and maintenance | 13,375us-gaap_CostOfPropertyRepairsAndMaintenance | 12,261us-gaap_CostOfPropertyRepairsAndMaintenance | 11,339us-gaap_CostOfPropertyRepairsAndMaintenance |
| Property administration | 11,703wre_PropertyAdministration | 10,155wre_PropertyAdministration | 9,248wre_PropertyAdministration |
| Property management | 8,757us-gaap_OwnedPropertyManagementCosts | 8,255us-gaap_OwnedPropertyManagementCosts | 8,503us-gaap_OwnedPropertyManagementCosts |
| Operating services and common area maintenance | 15,068us-gaap_CostOfReimbursableExpense | 13,469us-gaap_CostOfReimbursableExpense | 12,358us-gaap_CostOfReimbursableExpense |
| Other real estate expenses | 3,300us-gaap_OtherCostOfOperatingRevenue | 3,790us-gaap_OtherCostOfOperatingRevenue | 2,252us-gaap_OtherCostOfOperatingRevenue |
| Depreciation and amortization | 96,011us-gaap_DepreciationAndAmortization | 85,740us-gaap_DepreciationAndAmortization | 85,107us-gaap_DepreciationAndAmortization |
| Acquisition costs | 5,710us-gaap_BusinessCombinationAcquisitionRelatedCosts | 1,265us-gaap_BusinessCombinationAcquisitionRelatedCosts | 234us-gaap_BusinessCombinationAcquisitionRelatedCosts |
| General and administrative | 19,761us-gaap_GeneralAndAdministrativeExpense | 17,535us-gaap_GeneralAndAdministrativeExpense | 15,488us-gaap_GeneralAndAdministrativeExpense |
| Total expenses | 225,177us-gaap_CostsAndExpenses | 197,833us-gaap_CostsAndExpenses | 187,374us-gaap_CostsAndExpenses |
| Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal | 570us-gaap_DisposalGroupNotDiscontinuedOperationGainLossOnDisposal | 0us-gaap_DisposalGroupNotDiscontinuedOperationGainLossOnDisposal | 0us-gaap_DisposalGroupNotDiscontinuedOperationGainLossOnDisposal |
| Real estate operating income | 64,030us-gaap_OperatingIncomeLoss | 65,191us-gaap_OperatingIncomeLoss | 67,420us-gaap_OperatingIncomeLoss |
| Other income (expense) | |||
| Interest expense | (59,785)us-gaap_InterestExpense | (63,573)us-gaap_InterestExpense | (60,627)us-gaap_InterestExpense |
| Other income | 825us-gaap_OtherNonoperatingIncomeExpense | 926us-gaap_OtherNonoperatingIncomeExpense | 975us-gaap_OtherNonoperatingIncomeExpense |
| Loss on extinguishment of debt | 0us-gaap_GainsLossesOnExtinguishmentOfDebt | (2,737)us-gaap_GainsLossesOnExtinguishmentOfDebt | 0us-gaap_GainsLossesOnExtinguishmentOfDebt |
| Total other income (expense) | (58,960)us-gaap_NonoperatingIncomeExpense | (65,384)us-gaap_NonoperatingIncomeExpense | (59,652)us-gaap_NonoperatingIncomeExpense |
| Income (loss) from continuing operations | 5,070us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest | (193)us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest | 7,768us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest |
| Discontinued operations: | |||
| Income from operations of properties sold or held for sale | 546us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax | 15,395us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax | 10,816us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax |
| Gain on sale of real estate | 105,985us-gaap_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax | 22,144us-gaap_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax | 5,124us-gaap_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax |
| Net income | 111,601us-gaap_ProfitLoss | 37,346us-gaap_ProfitLoss | 23,708us-gaap_ProfitLoss |
| Less: Net loss attributable to noncontrolling interests in subsidiaries | 38us-gaap_NetIncomeLossAttributableToNoncontrollingInterest | 0us-gaap_NetIncomeLossAttributableToNoncontrollingInterest | 0us-gaap_NetIncomeLossAttributableToNoncontrollingInterest |
| Net income attributable to the controlling interests | $ 111,639us-gaap_NetIncomeLoss | $ 37,346us-gaap_NetIncomeLoss | $ 23,708us-gaap_NetIncomeLoss |
| Basic net income attributable to the controlling interests per share | |||
| Continuing operations - basic (in dollars per share) | $ 0.08us-gaap_IncomeLossFromContinuingOperationsPerBasicShare | $ 0.00us-gaap_IncomeLossFromContinuingOperationsPerBasicShare | $ 0.11us-gaap_IncomeLossFromContinuingOperationsPerBasicShare |
| Discontinued operations, including gain on sale of real estate (in dollars per share) | $ 1.59us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare | $ 0.55us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare | $ 0.24us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare |
| Net income attributable to the controlling interests per share, basic | $ 1.67us-gaap_EarningsPerShareBasic | $ 0.55us-gaap_EarningsPerShareBasic | $ 0.35us-gaap_EarningsPerShareBasic |
| Diluted net income attributable to the controlling interests per share | |||
| Continuing operations - diluted (in dollars per share) | $ 0.08us-gaap_IncomeLossFromContinuingOperationsPerDilutedShare | $ 0.00us-gaap_IncomeLossFromContinuingOperationsPerDilutedShare | $ 0.11us-gaap_IncomeLossFromContinuingOperationsPerDilutedShare |
| Discontinued operations, including gain on sale of real estate (in dollars per share) | $ 1.59us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare | $ 0.55us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare | $ 0.24us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare |
| Net income attributable to the controlling interests per share, diluted | $ 1.67us-gaap_EarningsPerShareDiluted | $ 0.55us-gaap_EarningsPerShareDiluted | $ 0.35us-gaap_EarningsPerShareDiluted |
| Weighted average shares outstanding – basic | 66,795us-gaap_WeightedAverageNumberOfSharesOutstandingBasic | 66,580us-gaap_WeightedAverageNumberOfSharesOutstandingBasic | 66,239us-gaap_WeightedAverageNumberOfSharesOutstandingBasic |
| Weighted average shares outstanding – diluted | 66,837us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding | 66,580us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding | 66,376us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding |
| X | ||||||||||
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- Definition
This element represents acquisition-related costs incurred to effect a business combination which costs have been expensed during the period. Such costs include finder's fees; advisory, legal, accounting, valuation, and other professional or consulting fees; general administrative costs, including the costs of maintaining an internal acquisitions department; and may include costs of registering and issuing debt and equity securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The aggregate costs of keeping the property in good condition but that do not appreciably prolong the life or increase the value of the property. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Cost associated with reimbursable income. This occurs when a services entity incurs expenses on behalf of the client and passes through the cost of reimbursable expenses to a client. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Total costs of sales and operating expenses for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of gain (loss), after tax expense or benefit and not previously recognized, resulting from the sale of a business component. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
After tax income (loss) from operations of a business component (exclusive of any gain (loss) on disposal, or provision therefore) during the reporting period, until its disposal. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The gain (loss) resulting from the sale of a disposal group that is not a discontinued operation. It is included in income from continuing operations before income taxes in the income statement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Difference between the fair value of payments made and the carrying amount of debt which is extinguished prior to maturity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
This element represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses and taxes from ongoing operations before extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The amount of net income (loss) from continuing operations per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The amount of net income (loss) derived from continuing operations during the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Per basic share amount, after tax, of income (loss) from the day-to-day business activities of the discontinued operation and gain (loss) from the disposal of the discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Per diluted share amount, after tax, of income (loss) from the day-to-day business activities of the discontinued operation and gain (loss) from the disposal of the discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of Net Income (Loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
The net result for the period of deducting operating expenses from operating revenues. No definition available.
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| X | ||||||||||
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- Definition
Other costs incurred during the reporting period related to other revenue generating activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The net amount of other income and expense amounts, the components of which are not separately disclosed on the income statement, resulting from ancillary business-related activities (that is, excluding major activities considered part of the normal operations of the business) also known as other nonoperating income (expense) recognized for the period. Such amounts may include: (a) dividends, (b) interest on securities, (c) net gains or losses on securities, (d) unusual costs, (e) gains or losses on foreign exchange transactions, and (f) miscellaneous other income and expense items. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The aggregate costs related to management of owned properties during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The aggregate revenue from real estate operations during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
A tax based on the assessed value of real estate by the local government. The tax is usually based on the value of property (including the land). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Amount of operating expense of regulated operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Expenses related to the administration of owned properties during the reporting period. No definition available.
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