XML 38 R2.htm IDEA: XBRL DOCUMENT v3.6.0.2
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2016
Dec. 31, 2015
Income producing property:    
Land $ 105,890 $ 94,203
Buildings and improvements 3,018,361 2,736,936
Income producing property 3,124,251 2,831,139
Less: accumulated depreciation (662,183) (560,837)
Net income producing property 2,462,068 2,270,302
Construction in progress and land held for development 330,983 [1] 300,939
Net real estate 2,793,051 2,571,241
Cash and cash equivalents 38,624 31,230
Rents and other receivables 11,533 9,588
Deferred rent, net 123,058 128,941
Lease contracts above market value, net 5,138 6,029
Deferred costs, net 25,776 23,774
Prepaid expenses and other assets 41,284 44,689
Total assets 3,038,464 2,815,492
Liabilities:    
Unsecured Credit Facility 50,926 0
Mortgage notes payable 110,733 114,075
Unsecured Term Loan 249,036 249,172
Unsecured notes payable 837,323 834,963
Accounts payable and accrued liabilities 36,909 32,301
Construction costs payable 56,428 22,043
Accrued interest payable 11,592 11,821
Dividend and distribution payable 46,352 43,906
Lease contracts below market value, net 2,830 4,132
Prepaid rents and other liabilities 78,232 67,477
Total liabilities 1,480,361 1,379,890
Redeemable noncontrolling interests - operating partnership 591,101 479,189
Redeemable noncontrolling interests - operating partnership 591,101 479,189
Commitments and contingencies 0 0
Stockholders’ equity:    
Common stock, $.001 par value, 250,000,000 shares authorized, 75,914,763 shares issued and outstanding at December 31, 2016 and 66,105,650 shares issued and outstanding at December 31, 2015 76 66
Additional paid in capital 766,732 685,042
Retained Earnings (Accumulated Deficit) 0 (79,945)
Accumulated Other Comprehensive Income (Loss), Net of Tax (1,056) 0
Total stockholders’ equity 967,002 956,413
Total liabilities and stockholders’ equity 3,038,464 2,815,492
Series A cumulative redeemable perpetual preferred stock [Member]    
Stockholders’ equity:    
Preferred stock, $.001 par value, 50,000,000 shares authorized 0 185,000
Series B cumulative redeemable perpetual preferred stock [Member]    
Stockholders’ equity:    
Preferred stock, $.001 par value, 50,000,000 shares authorized 0 166,250
Series C cumulative redeemable perpetual preferred stock [Member]    
Stockholders’ equity:    
Preferred stock, $.001 par value, 50,000,000 shares authorized 201,250 0
Subsidiaries [Member]    
Income producing property:    
Land 105,890 94,203
Buildings and improvements 3,018,361 2,736,936
Income producing property 3,124,251 2,831,139
Less: accumulated depreciation (662,183) (560,837)
Net income producing property 2,462,068 2,270,302
Construction in progress and land held for development 330,983 300,939
Net real estate 2,793,051 2,571,241
Cash and cash equivalents 34,409 27,015
Rents and other receivables 11,533 9,588
Deferred rent, net 123,058 128,941
Lease contracts above market value, net 5,138 6,029
Deferred costs, net 25,776 23,774
Prepaid expenses and other assets 41,284 44,689
Total assets 3,034,249 2,811,277
Liabilities:    
Unsecured Credit Facility 50,926 0
Mortgage notes payable 110,733 114,075
Unsecured Term Loan 249,036 249,172
Unsecured notes payable 837,323 834,963
Accounts payable and accrued liabilities 36,909 32,301
Construction costs payable 56,428 22,043
Accrued interest payable 11,592 11,821
Dividend and distribution payable 46,352 43,906
Lease contracts below market value, net 2,830 4,132
Prepaid rents and other liabilities 78,232 67,477
Total liabilities 1,480,361 1,379,890
Redeemable noncontrolling interests - operating partnership 591,101 479,189
Redeemable noncontrolling interests - operating partnership 591,101 479,189
Commitments and contingencies 0 0
Stockholders’ equity:    
Total liabilities and stockholders’ equity 3,034,249 2,811,277
Limited partners’ capital:    
Limited partners' capital 201,250  
General partner’s capital, common units, 662,373 issued and outstanding at December 31, 2016 and December 31, 2015 6,645 6,021
Total partners’ capital 962,787 952,198
Subsidiaries [Member] | Series A Preferred Units [Member]    
Limited partners’ capital:    
Limited partners' capital 0 185,000
Subsidiaries [Member] | Series B Preferred Units [Member]    
Limited partners’ capital:    
Limited partners' capital 0 166,250
Subsidiaries [Member] | Series C Preferred Units [Member]    
Limited partners’ capital:    
Limited partners' capital 201,250 0
Subsidiaries [Member] | Common units [Member]    
Limited partners’ capital:    
Limited partners' capital $ 754,892 594,927
Subsidiaries [Member] | Series A cumulative redeemable perpetual preferred stock [Member]    
Limited partners’ capital:    
Limited partners' capital   185,000
Subsidiaries [Member] | Series B cumulative redeemable perpetual preferred stock [Member]    
Limited partners’ capital:    
Limited partners' capital   $ 166,250
[1] (1)Properties located in Ashburn, VA (ACC8, ACC9, ACC10, and ACC11), Elk Grove Village, IL (CH3), Santa Clara, CA (SC1 Phase III, formerly referred to as SC2), Hillsboro, OR (OR1 and OR2) and Vaughan, ON (TOR1).