XML 63 R65.htm IDEA: XBRL DOCUMENT v2.4.0.8
Investment in Unconsolidated Joint Ventures (Details 3) (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Dec. 31, 2013
Assets      
Commercial real estate property, net $ 10,586,513   $ 10,687,540
Other assets 815,873   750,123
Liabilities and members' equity      
Mortgages and other loans payable 4,971,022   4,860,578
Company's investments in unconsolidated joint ventures 1,061,704   1,113,218
Combined statements of income for the unconsolidated joint ventures      
Operating expenses 73,486 71,170  
Ground rent 8,033 8,128  
Real estate taxes 55,316 52,444  
Interest expense, net of interest income 80,180 80,775  
Amortization of deferred financing costs 3,868 4,463  
Transaction related costs, net of recoveries 2,474 1,358  
Depreciation and amortization 89,379 78,623  
Total expenses 335,993 318,028  
Company's equity in net income from unconsolidated joint ventures 6,128 5,073  
Joint Venture
     
Assets      
Commercial real estate property, net 6,356,664   6,846,021
Other assets 691,636   827,282
Total assets 7,048,300   7,673,303
Liabilities and members' equity      
Mortgages and other loans payable 4,577,178   5,066,710
Other liabilities 580,870   596,960
Members' equity 1,890,252   2,009,633
Total liabilities and members' equity 7,048,300   7,673,303
Company's investments in unconsolidated joint ventures 1,061,704   1,113,218
Combined statements of income for the unconsolidated joint ventures      
Total revenues 161,138 151,231  
Operating expenses 26,683 28,611  
Ground rent 2,025 657  
Real estate taxes 16,936 17,305  
Interest expense, net of interest income 52,336 56,407  
Amortization of deferred financing costs 4,633 4,283  
Transaction related costs, net of recoveries 271 0  
Depreciation and amortization 45,604 42,611  
Total expenses 148,488 149,874  
Loss on early extinguishment of debt (3,197) 0  
Net income before gain on sale 9,453 1,357  
Company's equity in net income from unconsolidated joint ventures $ 6,128 $ 5,073