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CONSOLIDATED BALANCE SHEETS - Unaudited - USD ($)
Sep. 30, 2018
Dec. 31, 2017
ASSETS    
Real estate properties $ 2,511,646,000 $ 2,336,734,000
Development and value-add properties [1] 244,761,000 242,014,000
Real estate, development and value-add properties 2,756,407,000 2,578,748,000
Less accumulated depreciation (796,037,000) (749,601,000)
Real estate, net 1,960,370,000 1,829,147,000
Unconsolidated investment 7,686,000 8,029,000
Cash 257,000 16,000
Other Assets 120,852,000 116,029,000
TOTAL ASSETS 2,089,165,000 1,953,221,000
LIABILITIES    
Unsecured bank credit facilities 169,261,000 195,709,000
Unsecured debt 723,300,000 713,061,000
Secured debt 191,292,000 199,512,000
Accounts payable and accrued expenses 105,869,000 64,967,000
Other liabilities 29,512,000 28,842,000
Total Liabilities 1,219,234,000 1,202,091,000
Stockholders' Equity:    
Common shares; $.0001 par value; 70,000,000 shares authorized; 36,040,155 shares issued and outstanding at September 30, 2018 and 34,758,167 at December 31, 2017 4,000 3,000
Excess shares; $.0001 par value; 30,000,000 shares authorized; no shares issued 0 0
Additional paid-in capital 1,176,034,000 1,061,153,000
Distributions in excess of earnings (318,410,000) (317,032,000)
Accumulated Other Comprehensive Income 10,693,000 5,348,000
Total Stockholders' Equity 868,321,000 749,472,000
Noncontrolling interest in joint ventures 1,610,000 1,658,000
Total Equity 869,931,000 751,130,000
TOTAL LIABILITIES AND EQUITY $ 2,089,165,000 $ 1,953,221,000
[1] Value-add properties are defined as properties that are either acquired but not stabilized or can be converted to a higher and better use. Acquired properties meeting either of the following two conditions are considered value-add properties: (1) Less than 75% occupied as of the acquisition date (or will be less than 75% occupied within one year of acquisition date based on near term lease roll), or (2) 20% or greater of the acquisition cost will be spent to redevelop the property.