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Segment Reporting (Tables)
 6 Months Ended
Jun. 30, 2016
Segment Reporting [Abstract]  
Schedule of reconciliation of NOI to net income
A reconciliation of NOI to net income for the three and six months ended June 30, 2016 and 2015 is as follows (dollars in thousands):
 
For the three months ended
 
For the six months ended
 
6/30/2016
 
6/30/2015
 
6/30/2016
 
6/30/2015
Net income
$
197,319

 
$
172,253

 
$
435,197

 
$
380,306

Indirect operating expenses, net of corporate income
15,477

 
14,817

 
32,015

 
30,215

Investments and investment management expense
1,194

 
1,073

 
2,340

 
2,107

Expensed acquisition, development and other pursuit costs, net of recoveries
1,436

 
673

 
4,897

 
1,860

Interest expense, net
46,581

 
44,590

 
89,991

 
90,164

Loss (gain) on extinguishment of debt, net
2,461

 
(7,749
)
 
2,461

 
(7,749
)
General and administrative expense
12,011

 
10,335

 
23,414

 
20,803

Equity in income of unconsolidated real estate entities
(27,151
)
 
(13,806
)
 
(55,120
)
 
(48,371
)
Depreciation expense
132,469

 
118,627

 
259,685

 
235,480

Income tax expense
36

 
1,293

 
73

 
1,308

Casualty and impairment (gain) loss, net
(1,732
)
 
(17,114
)
 
(3,935
)
 
(11,326
)
Gain on sale of real estate
(31,133
)
 
(9,625
)
 
(82,563
)
 
(80,583
)
Net operating income from real estate assets sold or held for sale (1)
(1,192
)
 
(4,377
)
 
(3,218
)
 
(8,812
)
        Net operating income
$
347,776

 
$
310,990

 
$
705,237

 
$
605,402

__________________________________

(1)
Represents NOI from real estate assets sold or held for sale as of June 30, 2016 that are not otherwise classified as discontinued operations.
Schedule of net operating income from real estate assets sold or held for sale, not classified as discontinued operations
The following is a summary of NOI from real estate assets sold or held for sale for the periods presented (dollars in thousands):
 
For the three months ended
 
For the six months ended
 
6/30/2016
 
6/30/2015
 
6/30/2016
 
6/30/2015
 
 
 
 
 
 
 
 
Rental income from real estate assets sold or held for sale
$
2,016

 
$
7,292

 
$
5,365

 
$
14,726

Operating expenses from real estate assets sold or held for sale
(824
)
 
(2,915
)
 
(2,147
)
 
(5,914
)
Net operating income from real estate assets sold or held for sale
$
1,192

 
$
4,377

 
$
3,218

 
$
8,812
Schedule of details of segment information
 
For the three months ended
 
For the six months ended
 
 
 
Total
revenue
 
NOI
 
% NOI  change from  prior year
 
Total
revenue
 
NOI
 
% NOI  change from  prior year
 
Gross real estate (1)
For the period ended June 30, 2016
 
 

 
 
 
 
 
 
 
 

Established
 

 
 

 
 

 
 
 
 
 
 
 
 

New England
$
58,069

 
$
37,170

 
2.7
 %
 
$
115,410

 
$
73,840

 
8.9
 %
 
$
1,841,109

Metro NY/NJ
89,895

 
61,951

 
2.3
 %
 
177,684

 
121,715

 
2.8
 %
 
2,889,770

Mid-Atlantic
58,464

 
40,530

 
2.5
 %
 
115,994

 
80,593

 
1.9
 %
 
2,331,290

Pacific Northwest
22,181

 
15,843

 
5.6
 %
 
43,764

 
31,588

 
6.2
 %
 
795,977

Northern California
79,632

 
60,850

 
6.8
 %
 
158,084

 
121,097

 
9.1
 %
 
2,653,785

Southern California
71,612

 
50,934

 
10.3
 %
 
142,869

 
101,975

 
10.1
 %
 
2,635,803

Total Established
379,853

 
267,278

 
5.0
 %
 
753,805

 
530,808

 
6.4
 %
 
13,147,734

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Other Stabilized (2)
58,511

 
38,593

 
N/A

 
134,933

 
97,197

 
N/A

 
2,166,893

Development / Redevelopment
60,460

 
41,905

 
N/A

 
113,711

 
77,232

 
N/A

 
4,065,071

Land Held for Future Development
N/A

 
N/A

 
N/A

 
N/A

 
N/A

 
N/A

 
511,797

Non-allocated (3)
1,467

 
N/A

 
N/A

 
2,990

 
N/A

 
N/A

 
81,186

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total
$
500,291

 
$
347,776

 
11.8
 %
 
$
1,005,439

 
$
705,237

 
16.5
 %
 
$
19,972,681

 
 
 
 
 
 
 
 
 
 
 
 
 
 
For the period ended June 30, 2015
 
 

 
 
 
 
 
 
 
 

Established
 

 
 

 
 

 
 
 
 
 
 
 
 

New England
$
45,162

 
$
28,663

 
2.8
 %
 
$
89,168

 
$
54,224

 
(0.5
)%
 
$
1,477,145

Metro NY/NJ
95,205

 
67,148

 
2.9
 %
 
188,389

 
131,514

 
2.9
 %
 
3,191,141

Mid-Atlantic
52,263

 
35,938

 
(0.9
)%
 
103,967

 
71,969

 
(0.8
)%
 
2,170,822

Pacific Northwest
19,047

 
13,657

 
7.9
 %
 
37,536

 
27,030

 
8.4
 %
 
719,366

Northern California
67,144

 
52,635

 
11.7
 %
 
132,658

 
102,369

 
11.6
 %
 
2,409,781

Southern California
63,169

 
43,046

 
6.7
 %
 
125,493

 
86,564

 
9.8
 %
 
2,503,327

Total Established
341,990

 
241,087

 
5.1
 %
 
677,211

 
473,670

 
5.2
 %
 
12,471,582

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Other Stabilized
54,679

 
36,566

 
N/A

 
108,755

 
71,406

 
N/A

 
2,028,096

Development / Redevelopment
50,556

 
33,337

 
N/A

 
93,582

 
60,326

 
N/A

 
3,581,408

Land Held for Future Development
N/A

 
N/A

 
N/A

 
N/A

 
N/A

 
N/A

 
487,205

Non-allocated (3)
2,942

 
N/A

 
N/A

 
5,553

 
N/A

 
N/A

 
42,997

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total
$
450,167

 
$
310,990

 
13.3
 %
 
$
885,101

 
$
605,402

 
13.4
 %
 
$
18,611,288

__________________________________

(1)
Does not include gross real estate assets held for sale of $77,943 and $79,128 as of June 30, 2016 and 2015, respectively.
(2)
Total revenue and NOI for the six months ended June 30, 2016 includes $20,306 in business interruption insurance proceeds related to the Edgewater casualty loss.
(3)
Revenue represents third-party management, asset management and developer fees and miscellaneous income which are not allocated to a reportable segment.