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Consolidated Statements of Operations and Comprehensive Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
REVENUE      
Property revenue $ 179,982 $ 157,507 $ 132,754
Office revenue 1,497 1,046 0
Construction and other services 0 0 16,869
Total revenue 181,479 158,553 149,623
EXPENSES      
Property operating and maintenance 67,879 60,628 51,768
Depreciation and amortization 58,053 49,938 45,768
Construction and other services 0 176 19,297
General and administrative 19,481 16,995 15,944
Development costs 912 864 435
Costs associated with acquisitions 524 798 539
Total expenses 146,849 129,399 133,751
Operating income 34,630 29,154 15,872
Interest expense (29,342) (29,273) (28,743)
Income (loss) from continuing operations 5,288 (119) (12,871)
Income from discontinued operations:      
Operating income, net of interest expense 3,179 3,881 3,642
Gain on disposition of properties 52,828 26,849 14,597
Income from discontinued operations 56,007 30,730 18,239
Net income 61,295 30,611 5,368
Net income attributable to noncontrolling interests (45) (19) (40)
Net income attributable to AERC 61,250 30,592 5,328
Allocation to participating securities 228 0 0
Net income applicable to common shares 61,022 30,592 5,328
Earnings per common share - basic:      
Income (loss) from continuing operations applicable to common shares $ 0.10 $ 0.00 $ (0.31)
Income from discontinued operations $ 1.08 $ 0.66 $ 0.44
Net income applicable to common shares $ 1.18 $ 0.66 $ 0.13
Earnings per common share - diluted:      
Income (loss) from continuing operations applicable to common shares $ 0.10 $ 0.00 $ (0.31)
Income from discontinued operations $ 1.07 $ 0.66 $ 0.44
Net income applicable to common shares $ 1.17 $ 0.66 $ 0.13
Comprehensive income:      
Net income 61,295 30,611 5,368
Other comprehensive income:      
Change in fair value and reclassification of hedge intstruments 2,232 (2,529) (405)
Total comprehensive income 63,527 28,082 4,963
Comprehensive loss attributable to noncontrolling interests (45) (19) (40)
Total comprehensive income attributable to AERC $ 63,482 $ 28,063 $ 4,923
Weighted average shares outstanding - basic 51,622 46,063 41,657
Weighted average shares outstanding - diluted 52,184 46,063 41,657