XML 75 R49.htm IDEA: XBRL DOCUMENT v2.4.0.6
Other Assets and Other Liabilities (Details) (USD $)
3 Months Ended 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
Jun. 30, 2011
Dec. 31, 2011
Deferred expenses and other assets, net          
Other receivables $ 19,639,000   $ 19,639,000   $ 13,943,000
Deferred financing fees, net 17,573,000 [1]   17,573,000 [1]   21,443,000 [1]
Net lease in-place lease intangibles, net 14,363,000 [2]   14,363,000 [2]   17,013,000 [2]
Leasing costs, net 12,994,000 [3]   12,994,000 [3]   12,423,000 [3]
Derivative asset 8,660,000   8,660,000   0
Corporate furniture, fixtures and equipment, net 8,086,000 [4]   8,086,000 [4]   9,034,000 [4]
Prepaid expenses 5,380,000   5,380,000   5,441,000
Other assets 18,605,000   18,605,000   28,555,000
Deferred expenses and other assets, net 105,300,000   105,300,000   107,852,000
Accumulated amortization of deferred financing fees 19,400,000   19,400,000   13,300,000
Accumulated amortization on net lease intangibles 34,000,000   34,000,000   33,400,000
Amortization expense related to net lease intangibles 1,000,000 1,700,000 2,300,000 3,400,000  
Accumulated amortization on leasing costs 5,000,000   5,000,000   5,500,000
Accumulated depreciation on corporate furniture, fixtures and equipment 7,700,000   7,700,000   8,100,000
Accounts payable, accrued expenses and other liabilities          
Accrued interest payable 38,030,000   38,030,000   30,122,000
Accrued expenses 29,104,000   29,104,000   36,332,000
Security deposits and other investment deposits 12,463,000   12,463,000   12,192,000
Unearned operating lease income 8,917,000   8,917,000   10,073,000
Property taxes payable 8,274,000   8,274,000   6,495,000
Other liabilities 14,706,000   14,706,000   11,479,000
Accounts payable, accrued expenses and other liabilities 111,494,000   111,494,000   106,693,000
Taxable REIT Subsidiaries (TRSs)
         
Deferred Tax Asset          
Deferred tax assets 57,657,000 [5]   57,657,000 [5]   50,889,000 [5]
Valuation allowance (57,657,000)   (57,657,000)   (50,889,000)
Deferred tax assets, net 0   0   0
Real estate asset basis differences 34,200,000   34,200,000   28,700,000
Net operating loss carryforwards 22,500,000   22,500,000   22,800,000
Investment basis differences $ 1,000,000   $ 1,000,000   $ (600,000)
[1] Accumulated amortization on deferred financing fees was $19.4 million and $13.3 million as of June 30, 2012 and December 31, 2011, respectively.
[2] Represents unamortized finite lived intangible assets related to the prior acquisition of net lease assets. Accumulated amortization on net lease intangibles was $34.0 million and $33.4 million as of June 30, 2012 and December 31, 2011, respectively. Amortization expense related to these assets was $1.0 million and $1.7 million for the three months ended June 30, 2012 and 2011, respectively
[3] Accumulated amortization on leasing costs was $5.0 million and $5.5 million as of June 30, 2012 and December 31, 2011, respectively.
[4] Accumulated depreciation on corporate furniture, fixtures and equipment was $7.7 million and $8.1 million as of June 30, 2012 and December 31, 2011, respectively.
[5] Deferred tax assets as of June 30, 2012 primarily include real estate basis differences of $34.2 million, net operating loss carryforwards of $22.5 million and investment basis differences of $1.0 million. Deferred tax assets as of December 31, 2011 include real estate basis differences of $28.7 million, net operating loss carryforwards of $22.8 million, and investment basis differences of $(0.6) million.