XML 85 R64.htm IDEA: XBRL DOCUMENT v3.3.1.900
Debt - Additional Information (Detail)
12 Months Ended
Nov. 27, 2013
USD ($)
shares
Unit
$ / shares
$ / Unit
Feb. 26, 2013
USD ($)
Dec. 31, 2015
USD ($)
Property
Room
$ / shares
Dec. 31, 2014
USD ($)
Property
$ / shares
Dec. 31, 2013
USD ($)
Apr. 01, 2016
Mar. 31, 2016
Sep. 30, 2015
Line of Credit Facility [Line Items]                
NetIncomePercentageRequiredforNetWorthCompliance     75.00%          
MinimumNetWorthPercentageRequiredForCompliance     85.00%          
Common stock, par value | $ / shares     $ 1.00 $ 1.00        
Debt     $ 389,782,000 $ 432,744,000        
Repayments of Long-term Debt     58,220,000 225,481,000 $ 106,076,000      
Deferred Finance Costs, Net     11,034,000 15,168,000        
Amortization of deferred financing fees     4,002,000 $ 3,845,000 $ 3,050,000      
Debt Maturities 2016     27,973,000          
Debt Maturities 2017     551,000          
Debt Maturities 2018     23,936,000          
Debt Maturities 2019     0          
Debt Maturities 2020     106,762,000          
Debt Maturities thereafter     $ 230,560,000          
Austin [Member]                
Line of Credit Facility [Line Items]                
Guest room hotel | Room     413          
Multi Family Property [Member] | Austin, Texas [Member]                
Line of Credit Facility [Line Items]                
Number Of Units Of Multifamily Project | Property     257 257        
Carrying value       $ 53,917,000        
Multi Family Development Properties [Member] | Texas [Member]                
Line of Credit Facility [Line Items]                
Carrying value     $ 51,035,000          
6% Tangible Equity Units [Member]                
Line of Credit Facility [Line Items]                
Debt Instrument, Face Amount $ 150,000,000              
Units issued | Unit 6,000,000              
Exercise price of unit | $ / Unit 25.00              
Common stock, par value | $ / shares $ 1.00              
Interest rate percentage 6.00%              
Debt     8,768,000 17,154,000        
Revolving Line of Credit [Member] | Sublimit For Letters Of Credit [Member]                
Line of Credit Facility [Line Items]                
Sublimit for letters of credit under line of credit facility     100,000,000          
Term Loan Facility [Member] | Senior Secured Credit Facility [Member]                
Line of Credit Facility [Line Items]                
Debt       200,000,000        
Letter of Credit [Member]                
Line of Credit Facility [Line Items]                
Sublimit for letters of credit outstanding     15,899,000          
Convertible Debt [Member]                
Line of Credit Facility [Line Items]                
Debt Instrument, Face Amount   $ 125,000,000            
Debt Instrument, Maturity Date   Mar. 01, 2020            
Interest rate percentage   3.75%            
Initial conversion rate   40.8351            
Principal amount of initial conversion rate   $ 1,000            
Unamortized debt discount     18,238,000          
Debt     $ 106,762,000 103,194,000        
Senior Notes [Member]                
Line of Credit Facility [Line Items]                
Debt Instrument, Maturity Date   Jun. 01, 2022            
Interest rate percentage     8.50%          
Debt     $ 230,560,000 250,000,000        
Notes Reduction     $ 19,440,000          
Debt Instrument, Redemption Price, Percentage     97.00%          
Gains (Losses) on Extinguishment of Debt, before Write off of Deferred Debt Issuance Cost     $ 589,000          
Write off of Deferred Debt Issuance Cost     $ 506,000          
Senior Notes [Member] | 6% Tangible Equity Units [Member]                
Line of Credit Facility [Line Items]                
Line of Credit Facility, Expiration Date     Dec. 15, 2016          
Face amount per unit, debt | $ / Unit 4.2522              
Interest rate percentage 4.50%              
Secured Promissory Notes [Member]                
Line of Credit Facility [Line Items]                
Debt     $ 15,400,000 15,400,000        
Secured Promissory Notes [Member] | Austin [Member]                
Line of Credit Facility [Line Items]                
Carrying value of multifamily project to secure non recourse loan     33,621,000          
Other Indebtedness [Member]                
Line of Credit Facility [Line Items]                
Debt     28,292,000 46,996,000        
Other Indebtedness [Member] | Multi Family Property [Member] | Austin, Texas [Member]                
Line of Credit Facility [Line Items]                
Debt     23,936,000          
Revolving Credit Facility [Member]                
Line of Credit Facility [Line Items]                
Minimum liquidity required     $ 125,000,000          
Minimum effective leverage ratio exceeded     40.00%          
Debt Instrument, Stockholders Distribution Covenant, Interest Coverage Ratio     3.0          
Maximum borrowing capacity under term Loan facility     $ 300,000,000          
Line of Credit Facility, Expiration Date     May 15, 2017          
Net unused borrowing capacity     $ 284,101,000          
Percentage Of Spread On Federal Funds Effective Rate     0.50%          
Minimum Net Worth Required for Compliance     $ 379,044,000          
Debt Instrument, Covenant, Interest Coverage Ratio     2.25         2.50
Payments of Capital Distribution     $ 50,000,000          
Debt Instrument, Distribution Funding, Percentage From Sales of Properties and Non-core Assets     65.00%          
Minimum [Member] | 6% Tangible Equity Units [Member]                
Line of Credit Facility [Line Items]                
Units issued | shares 6,547,800              
Maximum [Member] | 6% Tangible Equity Units [Member]                
Line of Credit Facility [Line Items]                
Units issued | shares 7,857,000              
Over-Allotment Option [Member] | 6% Tangible Equity Units [Member]                
Line of Credit Facility [Line Items]                
Units issued | Unit 600,000              
London Interbank Offered Rate (LIBOR) [Member] | Revolving Credit Facility [Member]                
Line of Credit Facility [Line Items]                
Debt Instrument, Basis Spread on Variable Rate     4.00%          
Base Rate [Member] | Revolving Credit Facility [Member]                
Line of Credit Facility [Line Items]                
Percentage Of Variable Spread On Base Rate     3.00%          
Thirty Day LIBOR Rate [Member] | Revolving Credit Facility [Member]                
Line of Credit Facility [Line Items]                
Debt Instrument, Basis Spread on Variable Rate     1.00%          
Midtown [Member]                
Line of Credit Facility [Line Items]                
Number Of Units Of Multifamily Project | Property     354          
Proceeds from sale of multifamily property     $ 18,473,000          
Carrying value     0 [1] $ 33,293,000        
Repayments of Long-term Debt     $ 24,166,000          
Scenario, Forecast [Member] | Revolving Credit Facility [Member]                
Line of Credit Facility [Line Items]                
Debt Instrument, Covenant, Interest Coverage Ratio           2.50 2.25  
[1] Sold in 2015.