Consolidated Statements Of Operations - USD ($)
shares in Thousands, $ in Thousands |
3 Months Ended |
6 Months Ended |
Jun. 30, 2016 |
Jun. 30, 2015 |
Jun. 30, 2016 |
Jun. 30, 2015 |
| REVENUES |
|
|
|
|
| Base rents |
$ 124,223
|
$ 121,246
|
$ 250,610
|
$ 245,039
|
| Escalations and recoveries from tenants |
14,110
|
15,842
|
29,071
|
34,241
|
| Real estate services |
6,469
|
7,401
|
13,281
|
15,045
|
| Parking income |
3,532
|
2,850
|
6,688
|
5,392
|
| Other income |
893
|
1,228
|
2,500
|
2,565
|
| Total revenues |
149,227
|
148,567
|
302,150
|
302,282
|
| EXPENSES |
|
|
|
|
| Real estate taxes |
22,418
|
21,410
|
45,644
|
43,862
|
| Utilities |
10,953
|
13,399
|
24,531
|
30,974
|
| Operating services |
24,024
|
25,844
|
50,756
|
54,072
|
| Real estate services expenses |
6,211
|
6,208
|
13,057
|
12,847
|
| General and administrative |
12,755
|
11,877
|
25,004
|
22,888
|
| Acquisition-related costs |
2,039
|
111
|
2,039
|
111
|
| Depreciation and amortization |
43,459
|
42,365
|
86,522
|
83,167
|
| Total expenses |
121,859
|
121,214
|
247,553
|
247,921
|
| Operating income |
27,368
|
27,353
|
54,597
|
54,361
|
| OTHER (EXPENSE) INCOME |
|
|
|
|
| Interest expense |
(22,932)
|
(26,773)
|
(47,925)
|
(53,988)
|
| Interest and other investment income (loss) |
146
|
291
|
(523)
|
558
|
| Equity in earnings (loss) of unconsolidated joint ventures |
(614)
|
(2,329)
|
(2,168)
|
(5,858)
|
| Gain on change of control of interests |
5,191
|
|
15,347
|
|
| Realized gains (losses) and unrealized losses on disposition of rental property, net |
27,117
|
34,399
|
85,717
|
34,543
|
| Gain on sale of investment in unconsolidated joint ventures |
5,670
|
6,448
|
5,670
|
6,448
|
| Gain from extinguishment of debt |
12,420
|
|
12,420
|
|
| Total other income (expense) |
26,998
|
12,036
|
68,538
|
(18,297)
|
| Net income |
54,366
|
39,389
|
123,135
|
36,064
|
| Noncontrolling interest in consolidated joint ventures |
(311)
|
373
|
395
|
863
|
| Noncontrolling interest in Operating Partnership |
(5,662)
|
(4,383)
|
(12,946)
|
(4,069)
|
| Net income available to common shareholders |
$ 48,393
|
$ 35,379
|
$ 110,584
|
$ 32,858
|
| Basic earnings per common share: |
|
|
|
|
| Net income available to common shareholders |
$ 0.54
|
$ 0.40
|
$ 1.23
|
$ 0.37
|
| Diluted earnings per common share: |
|
|
|
|
| Net income available to common shareholders |
$ 0.54
|
$ 0.40
|
$ 1.23
|
$ 0.37
|
| Basic weighted average shares outstanding |
89,740
|
89,244
|
89,731
|
89,218
|
| Diluted weighted average shares outstanding |
100,401
|
100,314
|
100,359
|
100,313
|