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Consolidated Statements of Cash Flows
$ in Thousands
12 Months Ended
Dec. 31, 2015
USD ($)
Dec. 31, 2014
USD ($)
Dec. 31, 2013
USD ($)
Parent Company [Member]      
Cash flows from operating activities:      
Consolidated net income $ (350,745) $ (156,277) $ (119,279)
Adjustments to reconcile net income to net cash provided by operating activities:      
Retail revenue accretion (1,083) (27) (35)
Depreciation and amortization (294,897) (301,744) (189,673)
Stock compensation expense 6,147 4,226 2,268
Redeemable stock issued 924 874 692
Amortization of debt premium (15,515) (21,282) (5,870)
(Gain) loss from investments in real estate joint ventures 6 (3,142) (338)
Loss on debt extinguishment 2,855 2,586 426
Derivative interest (credit) expense (2,274) (3,084) 911
Settlement of forward swaps (1,908) (3,625) 9,617
Gain on sale of non-depreciable real estate assets (172) (350) 0
Gain on sale of depreciable real estate assets excluded from discontinued operations (189,958) (42,649) 0
Gain on sale of discontinued operations 0 (5,394) (76,844)
Net casualty (gain) loss and other settlement proceeds (473) 476 50
Changes in assets and liabilities:      
Restricted cash 2,091 (8,704) (11,844)
Other assets 12,475 2,013 59,032
Accounts payable 2,578 3,348 48,674
Accrued expenses and other 6,307 7,543 19,890
Security deposits (1,235) (1,244) (147)
Net cash provided by operating activities 463,721 385,378 258,380
Cash flows from investing activities:      
Purchases of real estate and other assets (328,193) (309,174) (139,199)
Normal capital improvements (88,486) (90,201) (53,439)
Construction capital and other improvements (7,848) (7,998) (4,148)
Renovations to existing real estate assets (30,957) (21,089) (11,008)
Development (38,730) (70,788) (53,042)
Distributions from real estate joint ventures (6) (15,964) (9,768)
Contributions to Real Estate Joint Ventures (32) 0 (268)
Proceeds from disposition of real estate assets 358,017 254,638 128,978
Return (funding) of escrow for future acquisitions 8 24,884 (24,884)
Cash acquired in connection with Colonial merger 0 0 63,454
Net cash used in investing activities (136,215) (203,764) (83,788)
Cash flows from financing activities:      
Net change in credit lines (180,900) (157,184) (308,000)
Proceeds from notes payable 395,960 396,855 347,759
Principal payments on notes payable (279,077) (260,347) (11,103)
Payment of deferred financing costs (7,690) (4,992) (6,933)
Repurchase of common stock (958) (465) (702)
Proceeds from issuances of common shares 622 1,042 25,680
Proceeds from Stock Options Exercised 420 12,245 6,212
Distributions to noncontrolling interests (12,898) (12,290) (6,550)
Dividends paid on common shares (232,079) (219,158) (140,697)
Net cash used in financing activities (316,600) (244,294) (94,334)
Net increase (decrease) in cash and cash equivalents 10,906 (62,680) 80,258
Cash and cash equivalents, beginning of period 26,653 89,333 9,075
Cash and cash equivalents, end of period 37,559 26,653 89,333
Supplemental disclosure of cash flow information:      
Interest paid 140,811 146,202 83,628
Income Taxes Paid 2,103 1,596 803
Supplemental disclosure of noncash investing and financing activities:      
Conversion of units to shares of common stock 1,121 1,419 2,519
Accrued construction in progress 5,873 6,626 10,165
Interest capitalized 1,655 1,722 2,089
Marked-to-market adjustment on derivative instruments 2,963 6,159 26,143
Fair value adjustment on debt assumed 0 5,284 86,671
Loan assumption 0 93,049 707,716
Purchase price for Colonial merger 0 0 2,162,876
Limited Partner [Member]      
Cash flows from operating activities:      
Consolidated net income (350,745) (156,277) (107,544)
Adjustments to reconcile net income to net cash provided by operating activities:      
Retail revenue accretion (1,083) (27) (35)
Depreciation and amortization (294,897) (301,744) (189,437)
Stock compensation expense 6,147 4,226 2,268
Redeemable stock issued 924 874 692
Amortization of debt premium (15,515) (21,282) (5,870)
(Gain) loss from investments in real estate joint ventures 6 (3,142) (338)
Loss on debt extinguishment 2,855 2,586 426
Derivative interest (credit) expense (2,274) (3,084) 912
Settlement of forward swaps (1,908) (3,625) 9,617
Gain on sale of non-depreciable real estate assets (172) (350) 0
Gain on sale of depreciable real estate assets excluded from discontinued operations (189,958) (42,649) 0
Gain on sale of discontinued operations 0 (5,394) (65,520)
Net casualty (gain) loss and other settlement proceeds (473) 476 50
Changes in assets and liabilities:      
Restricted cash 2,091 (8,704) (11,843)
Other assets 12,475 2,013 58,904
Accounts payable 2,578 3,348 48,641
Accrued expenses and other 6,307 7,543 20,135
Security deposits (1,235) (1,244) (166)
Net cash provided by operating activities 463,721 385,378 257,904
Cash flows from investing activities:      
Purchases of real estate and other assets (328,193) (309,174) (139,199)
Normal capital improvements (88,486) (90,201) (53,357)
Construction capital and other improvements (7,848) (7,998) (4,148)
Renovations to existing real estate assets (30,957) (21,089) (11,008)
Development (38,730) (70,788) (53,042)
Distributions from real estate joint ventures (6) (15,964) (9,768)
Contributions to Real Estate Joint Ventures (32) 0 (268)
Proceeds from disposition of real estate assets 358,017 254,638 112,293
Return (funding) of escrow for future acquisitions 8 24,884 (24,884)
Cash acquired in connection with Colonial merger 0 0 63,454
Net cash used in investing activities (136,215) (203,764) (100,391)
Cash flows from financing activities:      
Advances from general partner 0 0 17,220
Net change in credit lines (180,900) (157,184) (308,000)
Proceeds from notes payable 395,960 396,855 347,759
Principal payments on notes payable (279,077) (260,347) (11,103)
Payment of deferred financing costs (7,690) (4,992) (6,933)
Repurchase of common units (958) (465) (702)
Proceeds from issuance of common units 622 1,042 25,680
Proceeds from Stock Options Exercised 420 12,245 6,212
Distributions paid on common units (244,977) (231,448) (147,247)
Net cash used in financing activities (316,600) (244,294) (77,114)
Net increase (decrease) in cash and cash equivalents 10,906 (62,680) 80,399
Cash and cash equivalents, beginning of period 26,653 89,333 8,934
Cash and cash equivalents, end of period 37,559 26,653 89,333
Supplemental disclosure of cash flow information:      
Interest paid 140,811 146,202 83,628
Income Taxes Paid 2,103 1,596 803
Supplemental disclosure of noncash investing and financing activities:      
Accrued construction in progress 5,873 6,626 10,165
Interest capitalized 1,655 1,722 2,089
Marked-to-market adjustment on derivative instruments 2,963 6,159 26,143
Fair value adjustment on debt assumed 0 5,284 86,671
Loan assumption 0 93,049 707,716
Purchase price for Colonial merger $ 0 $ 0 $ 2,162,876