Business Combination (Tables)

12 Months Ended

Dec. 31, 2015

Estimated fair values of assets acquired and liabilities assumed

Information on the operating properties and land parcels the Company acquired during the years ended December 31, 2015 and 2014 is as follows:

2015 Acquisitions



Reportable Segment	Number of Buildings	Acres of Developable Land (unaudited)	Leaseable Square Feet (unaudited)	Purchase Price
				(in thousands)
Houston	3	139	921,196	$	86,497
Lehigh/Central PA	—	281	—	62,402
Minnesota	1	188	197,956	24,541
Richmond/Hampton Roads	—	94	—	1,727
Other	1	56	410,059	45,248
Total	5	758	1,529,211	$	220,415

2014 Acquisitions



Reportable Segment	Number of Buildings	Acres of Developable Land (unaudited)	Leaseable Square Feet (unaudited)	Purchase Price
				(in thousands)
Carolinas	7	104	947,365	$	61,293
Chicago/Milwaukee	—	16	—	7,914
Houston	—	110	—	26,210
Lehigh/Central PA	—	85	—	15,307
Minnesota	—	24	—	2,966
South Florida	—	69	—	12,027
Other	3	94	981,243	86,476
Total	10	502	1,928,608	$	212,193

The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the acquisition date.



Assets
Real estate:
Land and land improvements	$	247,393
Building and improvements	1,152,717
Operating real estate	1,400,110
Intangible - in-place leases/market rent	97,396
Other assets	4,953
Total assets	1,502,459
Liabilities
Mortgage loans	243,230
Other liabilities	32,958
Intangible - market rent	5,737
Total liabilities	281,925
Net assets acquired	$	1,220,534

Unaudited pro forma

The following unaudited pro forma condensed income statement information has been prepared as if the Cabot Acquisition, the Trust’s August 2013 common share offering and the Operating Partnership’s September 2013 senior note offering had been completed on January 1, 2013. The pro forma condensed consolidated financial information does not purport to represent what the Company’s results of operations would have been assuming the completion of the Cabot Acquisition and the related financing activities had occurred on January 1, 2013 nor do they purport to project the results of operations of the Company for any future period (in thousands):



	For the Year Ended
	December 31, 2013
Total operating revenue	$	750,896
Net income available to common shareholders	$	211,601