|
Consolidated Statements Of Operations (USD $)
In Thousands, except Per Share data, unless otherwise specified
|
3 Months Ended |
|
Mar. 31, 2014
|
Mar. 31, 2013
|
| REVENUES |
|
|
| Base rents |
$ 134,051 |
$ 133,623 |
| Escalations and recoveries from tenants |
25,568 |
19,488 |
| Construction services |
|
8,226 |
| Real estate services |
6,692 |
6,443 |
| Parking income |
2,114 |
1,392 |
| Other income |
1,171 |
1,741 |
| Total revenues |
169,596 |
170,913 |
| EXPENSES |
|
|
| Real estate taxes |
24,351 |
21,649 |
| Utilities |
28,281 |
16,288 |
| Operating services |
29,222 |
25,308 |
| Direct construction costs |
|
7,825 |
| Real estate services expenses |
6,709 |
4,953 |
| General and administrative |
22,881 |
11,973 |
| Depreciation and amortization |
44,985 |
43,348 |
| Total expenses |
156,429 |
131,344 |
| Operating income |
13,167 |
39,569 |
| OTHER (EXPENSE) INCOME |
|
|
| Interest expense |
(29,946) |
(29,869) |
| Interest and other investment income |
386 |
6 |
| Equity in earnings (loss) of unconsolidated joint ventures |
(1,235) |
(1,750) |
| Total other (expense) income |
(30,795) |
(31,613) |
| Income (loss) from continuing operations |
(17,628) |
7,956 |
| Discontinued operations: |
|
|
| Income from discontinued operations |
|
5,133 |
| Total discontinued operations |
|
5,133 |
| Net income (loss) |
(17,628) |
13,089 |
| Noncontrolling interest in consolidated joint ventures |
322 |
62 |
| Noncontrolling interest in Operating Partnership |
2,008 |
(973) |
| Noncontrolling interest in discontinued operations |
|
(622) |
| Net income (loss) available to common shareholders |
$ (15,298) |
$ 11,556 |
| Basic earnings per common share: |
|
|
| Income (loss) from continuing operations |
$ (0.17) |
$ 0.08 |
| Discontinued operations |
|
$ 0.05 |
| Net income (loss) available to common shareholders |
$ (0.17) |
$ 0.13 |
| Diluted earnings per common share: |
|
|
| Income (loss) from continuing operations |
$ (0.17) |
$ 0.08 |
| Discontinued operations |
|
$ 0.05 |
| Net income (loss) available to common shareholders |
$ (0.17) |
$ 0.13 |
| Basic weighted average shares outstanding |
88,289 |
87,669 |
| Diluted weighted average shares outstanding |
99,876 |
99,849 |