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Secured and unsecured senior debt Detail of secured and unsecured debt (Details) (USD $)
In Thousands, unless otherwise specified
6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Summary of fixed rate/hedged and floating rate debt    
Fixed Rate/Hedged Variable Rate $ 2,413,965  
Unhedged Variable rate 920,896  
Principal amount 3,334,861  
Total consolidated debt, Effective Interest 3.03% [1]  
Debt Instrument, Periodic Payment Terms, Balloon Payment to be Paid 3,300,992  
Debt Instrument, Annual Principal Payment 33,869  
Future principal payments due on secured and unsecured debt    
Repayments of Unsecured Debt 0 150,000
Percentage of unhedged floating rate total debt 28.00%  
2014
   
Summary of fixed rate/hedged and floating rate debt    
Fixed Rate/Hedged Variable Rate 11,583  
Unhedged Variable rate 120  
Principal amount 11,703  
Debt Instrument, Periodic Payment Terms, Balloon Payment to be Paid 7,339  
Debt Instrument, Annual Principal Payment 4,364  
2015
   
Summary of fixed rate/hedged and floating rate debt    
Fixed Rate/Hedged Variable Rate 14,446  
Unhedged Variable rate 46,399  
Principal amount 60,845  
Debt Instrument, Periodic Payment Terms, Balloon Payment to be Paid 52,139  
Debt Instrument, Annual Principal Payment 8,706  
2016
   
Summary of fixed rate/hedged and floating rate debt    
Fixed Rate/Hedged Variable Rate 591,582  
Unhedged Variable rate 161,937  
Principal amount 753,519  
Debt Instrument, Periodic Payment Terms, Balloon Payment to be Paid 748,836  
Debt Instrument, Annual Principal Payment 4,683  
2017
   
Summary of fixed rate/hedged and floating rate debt    
Fixed Rate/Hedged Variable Rate 3,208  
Unhedged Variable rate 141,440  
Principal amount 144,648  
Debt Instrument, Periodic Payment Terms, Balloon Payment to be Paid 141,440  
Debt Instrument, Annual Principal Payment 3,208  
2018
   
Summary of fixed rate/hedged and floating rate debt    
Fixed Rate/Hedged Variable Rate 3,423  
Unhedged Variable rate 0  
Principal amount 3,423  
Debt Instrument, Periodic Payment Terms, Balloon Payment to be Paid 0  
Debt Instrument, Annual Principal Payment 3,423  
Thereafter
   
Summary of fixed rate/hedged and floating rate debt    
Fixed Rate/Hedged Variable Rate 1,789,723  
Unhedged Variable rate 571,000  
Principal amount 2,360,723  
Debt Instrument, Periodic Payment Terms, Balloon Payment to be Paid 2,351,238  
Debt Instrument, Annual Principal Payment 9,485  
Secured notes payable
   
Summary of fixed rate/hedged and floating rate debt    
Fixed Rate/Hedged Variable Rate 415,655  
Unhedged Variable rate 199,896  
Principal amount 615,551  
Stated interest rate (as a percent) 4.89%  
Effective rate (as a percent) 4.83% [1]  
Future principal payments due on secured and unsecured debt    
2014 11,785  
2015 61,015  
2016 253,696  
2017 144,832  
2018 3,615  
Thereafter 140,608  
Secured notes payable from bank maturing on 11/1/14
   
Summary of fixed rate/hedged and floating rate debt    
Stated interest rate (as a percent) 5.39%  
Effective rate (as a percent) 4.00% [1]  
Maturity Date Nov. 01, 2014 [2]  
Future principal payments due on secured and unsecured debt    
2014 7,386  
2015 0  
2016 0  
2017 0  
2018 0  
Thereafter 0  
Outstanding Balance 7,386  
Other secured notes payable maturing on 11/18/14
   
Summary of fixed rate/hedged and floating rate debt    
Stated interest rate (as a percent) 6.00%  
Effective rate (as a percent) 6.00% [1]  
Maturity Date Nov. 18, 2014 [2]  
Future principal payments due on secured and unsecured debt    
2014 120  
2015 0  
2016 0  
2017 0  
2018 0  
Thereafter 0  
Outstanding Balance 120  
Secured notes payable from bank maturing on 6/1/15
   
Summary of fixed rate/hedged and floating rate debt    
Stated interest rate (as a percent) 5.64%  
Effective rate (as a percent) 4.50% [1]  
Maturity Date Jun. 01, 2015 [2]  
Future principal payments due on secured and unsecured debt    
2014 69  
2015 5,777  
2016 0  
2017 0  
2018 0  
Thereafter 0  
Outstanding Balance 5,846  
Secured notes payable maturing on 7/1/15
   
Summary of fixed rate/hedged and floating rate debt    
Effective rate (as a percent) 1.66% [1]  
Maturity Date Jul. 01, 2015 [2]  
Number of extensions available under line of credit 2  
Future principal payments due on secured and unsecured debt    
2014 0  
2015 46,399  
2016 0  
2017 0  
2018 0  
Thereafter 0  
Outstanding Balance 46,399  
CMBS maturing on 1/1/16
   
Summary of fixed rate/hedged and floating rate debt    
Stated interest rate (as a percent) 5.73%  
Effective rate (as a percent) 5.73% [1]  
Maturity Date Jan. 01, 2016 [2]  
Future principal payments due on secured and unsecured debt    
2014 862  
2015 1,816  
2016 75,501  
2017 0  
2018 0  
Thereafter 0  
Outstanding Balance 78,179  
CMBS maturing on 4/1/16
   
Summary of fixed rate/hedged and floating rate debt    
Stated interest rate (as a percent) 5.82%  
Effective rate (as a percent) 5.82% [1]  
Maturity Date Apr. 01, 2016 [2]  
Future principal payments due on secured and unsecured debt    
2014 465  
2015 988  
2016 29,389  
2017 0  
2018 0  
Thereafter 0  
Outstanding Balance 30,842  
Secured Debt Maturing On 15 April 2016
   
Summary of fixed rate/hedged and floating rate debt    
Stated interest rate (as a percent) 5.74%  
Effective rate (as a percent) 3.00% [1]  
Maturity Date Apr. 15, 2016 [2]  
Future principal payments due on secured and unsecured debt    
2014 83  
2015 175  
2016 6,916  
2017 0  
2018 0  
Thereafter 0  
Outstanding Balance 7,174  
Secured notes payable maturing on 06/1/16
   
Summary of fixed rate/hedged and floating rate debt    
Effective rate (as a percent) 1.56% [1]  
Maturity Date Jun. 01, 2016 [2]  
Number of extensions available under line of credit 2  
Future principal payments due on secured and unsecured debt    
2014 0  
2015 0  
2016 11,936  
2017 0  
2018 0  
Thereafter 0  
Outstanding Balance 11,936  
CMBS maturing on 8/1/16
   
Summary of fixed rate/hedged and floating rate debt    
Stated interest rate (as a percent) 6.35%  
Effective rate (as a percent) 6.35% [1]  
Maturity Date Aug. 01, 2016 [2]  
Future principal payments due on secured and unsecured debt    
2014 1,229  
2015 2,652  
2016 126,715  
2017 0  
2018 0  
Thereafter 0  
Outstanding Balance 130,596  
Secured Debt from Bank Maturing on 20 January 2017
   
Summary of fixed rate/hedged and floating rate debt    
Stated interest rate (as a percent) 2.14%  
Effective rate (as a percent) 2.14% [1]  
Maturity Date Jan. 20, 2017 [2]  
Future principal payments due on secured and unsecured debt    
2014 0  
2015 0  
2016 0  
2017 76,000  
2018 0  
Thereafter 0  
Outstanding Balance 76,000  
Secured notes payable maturing on 8/23/17
   
Summary of fixed rate/hedged and floating rate debt    
Effective rate (as a percent) 1.50% [1]  
Maturity Date Aug. 23, 2017 [2]  
Future principal payments due on secured and unsecured debt    
2014 0  
2015 0  
2016 0  
2017 65,440  
2018 0  
Thereafter 0  
Outstanding Balance 65,440  
Secured Debt Other Maturing 1 April 2020
   
Summary of fixed rate/hedged and floating rate debt    
Stated interest rate (as a percent) 7.75%  
Effective rate (as a percent) 7.75% [1]  
Maturity Date Apr. 01, 2020 [2]  
Future principal payments due on secured and unsecured debt    
2014 741  
2015 1,570  
2016 1,696  
2017 1,832  
2018 1,979  
Thereafter 106,490  
Outstanding Balance 114,308  
Secured Debt Maturing on January 2023
   
Summary of fixed rate/hedged and floating rate debt    
Stated interest rate (as a percent) 4.66%  
Effective rate (as a percent) 4.66% [1]  
Maturity Date Jan. 01, 2023 [2]  
Future principal payments due on secured and unsecured debt    
2014 669  
2015 1,402  
2016 1,464  
2017 1,540  
2018 1,614  
Thereafter 33,367  
Outstanding Balance 40,056  
Secured notes payable from bank maturing on 6/1/37
   
Summary of fixed rate/hedged and floating rate debt    
Stated interest rate (as a percent) 6.50%  
Effective rate (as a percent) 6.50% [1]  
Maturity Date Jun. 01, 2037 [2]  
Future principal payments due on secured and unsecured debt    
2014 0  
2015 18  
2016 19  
2017 20  
2018 22  
Thereafter 751  
Outstanding Balance 830  
Unamortized Premiums
   
Future principal payments due on secured and unsecured debt    
Unamortized premium 439  
Unamortized Premiums | 2014
   
Future principal payments due on secured and unsecured debt    
Unamortized premium 161  
Unamortized Premiums | 2015
   
Future principal payments due on secured and unsecured debt    
Unamortized premium 218  
Unamortized Premiums | 2016
   
Future principal payments due on secured and unsecured debt    
Unamortized premium 60  
Unamortized Premiums | 2017
   
Future principal payments due on secured and unsecured debt    
Unamortized premium 0  
Unamortized Premiums | 2018
   
Future principal payments due on secured and unsecured debt    
Unamortized premium 0  
Unamortized Premiums | Thereafter
   
Future principal payments due on secured and unsecured debt    
Unamortized premium 0  
Unsecured Debt
   
Summary of fixed rate/hedged and floating rate debt    
Principal amount 2,719,310  
Effective rate (as a percent) 2.63% [1]  
Unsecured Debt | 2014
   
Future principal payments due on secured and unsecured debt    
2014 (82)  
Unsecured Debt | 2015
   
Future principal payments due on secured and unsecured debt    
2015 (170)  
Unsecured Debt | 2016
   
Future principal payments due on secured and unsecured debt    
2016 499,823  
Unsecured Debt | 2017
   
Future principal payments due on secured and unsecured debt    
2017 (184)  
Unsecured Debt | 2018
   
Future principal payments due on secured and unsecured debt    
2018 (192)  
Unsecured Debt | Thereafter
   
Future principal payments due on secured and unsecured debt    
Thereafter 2,220,115  
2016 Unsecured Senior Bank Term Loan
   
Summary of fixed rate/hedged and floating rate debt    
Fixed Rate/Hedged Variable Rate 350,000  
Unhedged Variable rate 150,000  
Principal amount 500,000 [3]  
Effective rate (as a percent) 1.40% [1]  
Maturity Date Jul. 31, 2016 [2]  
Future principal payments due on secured and unsecured debt    
2014 0  
2015 0  
2016 500,000  
2017 0  
2018 0  
Thereafter 0  
Outstanding Balance 500,000  
2019 Unsecured Senior Bank Term Loan
   
Summary of fixed rate/hedged and floating rate debt    
Fixed Rate/Hedged Variable Rate 600,000  
Unhedged Variable rate 0  
Principal amount 600,000  
Effective rate (as a percent) 2.05% [1]  
Maturity Date Jan. 03, 2019 [2]  
Future principal payments due on secured and unsecured debt    
2014 0  
2015 0  
2016 0  
2017 0  
2018 0  
Thereafter 600,000  
Outstanding Balance 600,000  
$1.5 billion unsecured senior line of credit
   
Summary of fixed rate/hedged and floating rate debt    
Fixed Rate/Hedged Variable Rate 0  
Unhedged Variable rate 571,000  
Principal amount 571,000 [3]  
Effective rate (as a percent) 1.25% [1]  
Maturity Date Jan. 03, 2019 [2]  
Annual facility fee (as a percent) 0.20%  
Future principal payments due on secured and unsecured debt    
2014 0  
2015 0  
2016 0  
2017 0  
2018 0  
Thereafter 571,000  
Outstanding Balance 571,000  
4.60% unsecured senior notes payable
   
Summary of fixed rate/hedged and floating rate debt    
Stated interest rate (as a percent) 4.60%  
Effective rate (as a percent) 4.61% [1]  
Maturity Date Apr. 01, 2022 [2]  
Future principal payments due on secured and unsecured debt    
2014 0  
2015 0  
2016 0  
2017 0  
2018 0  
Thereafter 550,000  
Outstanding Balance 550,000  
3.90% unsecured senior notes payable
   
Summary of fixed rate/hedged and floating rate debt    
Stated interest rate (as a percent) 3.90%  
Effective rate (as a percent) 3.94% [1]  
Maturity Date Jun. 15, 2023 [2]  
Future principal payments due on secured and unsecured debt    
2014 0  
2015 0  
2016 0  
2017 0  
2018 0  
Thereafter 500,000  
Outstanding Balance 500,000  
Unamortized Discounts
   
Future principal payments due on secured and unsecured debt    
Unamortized discount (1,690)  
Unamortized Discounts | 2014
   
Future principal payments due on secured and unsecured debt    
Unamortized discount (82)  
Unamortized Discounts | 2015
   
Future principal payments due on secured and unsecured debt    
Unamortized discount (170)  
Unamortized Discounts | 2016
   
Future principal payments due on secured and unsecured debt    
Unamortized discount (177)  
Unamortized Discounts | 2017
   
Future principal payments due on secured and unsecured debt    
Unamortized discount (184)  
Unamortized Discounts | 2018
   
Future principal payments due on secured and unsecured debt    
Unamortized discount (192)  
Unamortized Discounts | Thereafter
   
Future principal payments due on secured and unsecured debt    
Unamortized discount (885)  
Senior Notes [Member]
   
Summary of fixed rate/hedged and floating rate debt    
Fixed Rate/Hedged Variable Rate 1,048,310  
Unhedged Variable rate 0  
Principal amount $ 1,048,310  
Effective rate (as a percent) 4.29% [1]  
LIBOR | Secured notes payable maturing on 7/1/15
   
Summary of fixed rate/hedged and floating rate debt    
Base rate LIBOR  
Basis spread on LIBOR (as a percent) 1.50%  
LIBOR | Secured notes payable maturing on 06/1/16
   
Summary of fixed rate/hedged and floating rate debt    
Base rate LIBOR  
Basis spread on LIBOR (as a percent) 1.40%  
LIBOR | Secured notes payable maturing on 8/23/17
   
Summary of fixed rate/hedged and floating rate debt    
Base rate LIBOR  
Basis spread on LIBOR (as a percent) 1.35%  
LIBOR | 2016 Unsecured Senior Bank Term Loan
   
Summary of fixed rate/hedged and floating rate debt    
Base rate LIBOR  
Basis spread on LIBOR (as a percent) 1.20%  
LIBOR | 2019 Unsecured Senior Bank Term Loan
   
Summary of fixed rate/hedged and floating rate debt    
Base rate LIBOR  
Basis spread on LIBOR (as a percent) 1.20%  
LIBOR | $1.5 billion unsecured senior line of credit
   
Summary of fixed rate/hedged and floating rate debt    
Base rate LIBOR  
Basis spread on LIBOR (as a percent) 1.10% [4]  
[1] Represents the weighted average interest rate as of the end of the period plus the impact of debt premiums/discounts and our interest rate swap agreements. The weighted average interest rate excludes bank fees and amortization of loan fees.
[2] Includes any extension options that we control.
[3] These amounts do not reflect our unsecured senior notes payable offering completed on July 18, 2014. Net proceeds of $694 million were used to reduce variable-rate debt, including the partial repayment of $125 million of our 2016 Unsecured Senior Bank Term Loan and the reduction of $569 million of borrowings outstanding on our unsecured senior line of credit. See Note 13 – Subsequent Events, to our consolidated financial statements (unaudited) appearing elsewhere in this quarterly report on Form 10-Q for further information.
[4] In addition to the stated rate, the unsecured senior line of credit is subject to an annual facility fee of 0.20%.