XML 79 R65.htm IDEA: XBRL DOCUMENT v2.4.0.8
Investments in Unconsolidated Joint Ventures (Details) (USD $)
3 Months Ended 12 Months Ended
Dec. 31, 2013
Sep. 30, 2013
Jun. 30, 2013
Mar. 31, 2013
Dec. 31, 2012
Sep. 30, 2012
Jun. 30, 2012
Mar. 31, 2012
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Schedule of Equity Method Investments [Line Items]                        
Accumulated depreciation $ (1,057,680,000)       $ (1,072,859,000)       $ (1,057,680,000) $ (1,072,859,000) $ (958,652,000) $ (845,305,000)
Operating real estate 5,226,533,000       3,818,484,000       5,226,533,000 3,818,484,000    
Development in Process 209,187,000       248,602,000       209,187,000 248,602,000    
Land held for development 233,055,000       249,221,000       233,055,000 249,221,000    
Other liabilities 250,819,000       185,956,000       250,819,000 185,956,000    
Company's net investment in unconsolidated joint ventures 179,655,000       169,021,000       179,655,000 169,021,000    
Equity Method Investment, Difference Between Carrying Amount and Underlying Equity 41,700,000       28,500,000       41,700,000 28,500,000    
Total revenue 192,427,000 155,349,000 151,026,000 147,128,000 144,431,000 140,515,000 137,987,000 137,346,000        
Operating income                 203,047,000 189,942,000 190,995,000  
Interest                 (127,115,000) (103,363,000) (101,988,000)  
Depreciation and amortization                 (205,147,000) (167,421,000) (171,714,000)  
Discontinued operations 51,832,000 6,544,000 13,633,000 49,830,000 16,795,000 7,539,000 12,956,000 13,714,000 121,839,000 51,004,000 106,065,000  
Equity in earnings (loss) of unconsolidated joint ventures                 6,067,000 (681,000) 3,496,000  
Liberty Venture I, LP [Member]
                       
Schedule of Equity Method Investments [Line Items]                        
Real estate assets 129,354,000       129,296,000       129,354,000 129,296,000    
Accumulated depreciation (32,617,000)       (28,849,000)       (32,617,000) (28,849,000)    
Operating real estate 96,737,000       100,447,000       96,737,000 100,447,000    
Development in Process 2,226,000               2,226,000      
Land held for development 2,842,000       2,760,000       2,842,000 2,760,000    
Other assets 11,531,000       9,845,000       11,531,000 9,845,000    
Total assets 113,336,000       113,052,000       113,336,000 113,052,000    
Debt 72,121,000       73,426,000       72,121,000 73,426,000    
Other liabilities 4,032,000       3,754,000       4,032,000 3,754,000    
Equity 37,183,000       35,872,000       37,183,000 35,872,000    
Total liabilities and equity 113,336,000       113,052,000       113,336,000 113,052,000    
Company's net investment in unconsolidated joint ventures 8,551,000 [1]       8,205,000 [1]       8,551,000 [1] 8,205,000 [1]    
Total revenue                 16,238,000 15,328,000 [2] 17,008,000 [2]  
Operating expense                 5,248,000 5,277,000 [2] 5,912,000 [2]  
Operating income                 10,990,000 10,051,000 [2] 11,096,000 [2]  
Interest                 (5,318,000) (5,402,000) [2] (5,472,000) [2]  
Depreciation and amortization                 (4,414,000) (3,930,000) [2] (4,088,000) [2]  
Other income/(expense)                 53,000 40,000 [2] 985,000 [2]  
Discontinued operations                 0      
Gain (Loss) on Sale of Investments                   0 [2] 1,515,000 [2]  
Net income (loss)                 1,311,000 759,000 4,036,000  
Equity in earnings (loss) of unconsolidated joint ventures                 530,000 306,000 1,212,000  
Kings Hill Unit Trust [Member]
                       
Schedule of Equity Method Investments [Line Items]                        
Real estate assets 182,220,000       193,628,000       182,220,000 193,628,000    
Accumulated depreciation (25,006,000)       (22,666,000)       (25,006,000) (22,666,000)    
Operating real estate 157,214,000       170,962,000       157,214,000 170,962,000    
Development in Process 0               0      
Land held for development 0       0       0 0    
Other assets 20,173,000       13,736,000       20,173,000 13,736,000    
Total assets 177,387,000       184,698,000       177,387,000 184,698,000    
Debt 97,091,000       117,308,000       97,091,000 117,308,000    
Other liabilities 100,112,000       77,832,000       100,112,000 77,832,000    
Equity (19,816,000)       (10,442,000)       (19,816,000) (10,442,000)    
Total liabilities and equity 177,387,000       184,698,000       177,387,000 184,698,000    
Company's net investment in unconsolidated joint ventures 12,772,000 [1]       10,341,000 [1]       12,772,000 [1] 10,341,000 [1]    
Total revenue                 12,701,000 15,642,000 [2] 16,389,000 [2]  
Operating expense                 4,187,000 4,237,000 [2] 3,372,000 [2]  
Operating income                 8,514,000 11,405,000 [2] 13,017,000 [2]  
Interest                 (5,133,000) (6,520,000) [2] (5,979,000) [2]  
Depreciation and amortization                 (3,829,000) (3,731,000) [2] (4,219,000) [2]  
Other income/(expense)                 71,000 (160,000) [2] (511,000) [2]  
Discontinued operations                 (5,647,000)      
Gain (Loss) on Sale of Investments                   0 [2] 0 [2]  
Net income (loss)                 (6,024,000) 994,000 2,308,000  
Equity in earnings (loss) of unconsolidated joint ventures                 (908,000) 352,000 637,000  
Liberty Illinois, LP [Member]
                       
Schedule of Equity Method Investments [Line Items]                        
Real estate assets 261,375,000       259,786,000       261,375,000 259,786,000    
Accumulated depreciation (43,304,000)       (36,978,000)       (43,304,000) (36,978,000)    
Operating real estate 218,071,000       222,808,000       218,071,000 222,808,000    
Development in Process 0               0      
Land held for development 42,770,000       42,734,000       42,770,000 42,734,000    
Other assets 20,346,000       14,974,000       20,346,000 14,974,000    
Total assets 281,187,000       280,516,000       281,187,000 280,516,000    
Debt 140,400,000       140,400,000       140,400,000 140,400,000    
Other liabilities 7,936,000       7,675,000       7,936,000 7,675,000    
Equity 132,851,000       132,441,000       132,851,000 132,441,000    
Total liabilities and equity 281,187,000       280,516,000       281,187,000 280,516,000    
Company's net investment in unconsolidated joint ventures 21,688,000 [1]       21,331,000 [1]       21,688,000 [1] 21,331,000 [1]    
Total revenue                 24,455,000 22,156,000 [2] 20,245,000 [2]  
Operating expense                 8,353,000 8,093,000 [2] 8,055,000 [2]  
Operating income                 16,102,000 14,063,000 [2] 12,190,000 [2]  
Interest                 (8,348,000) (8,348,000) [2] (8,348,000) [2]  
Depreciation and amortization                 (7,382,000) (7,395,000) [2] (7,342,000) [2]  
Other income/(expense)                 38,000 31,000 [2] (56,000) [2]  
Discontinued operations                 0      
Gain (Loss) on Sale of Investments                   0 [2] 0 [2]  
Net income (loss)                 410,000 (1,649,000) (3,556,000)  
Equity in earnings (loss) of unconsolidated joint ventures                 618,000 106,000 (394,000)  
Blythe Valley JV Sarl [Member]
                       
Schedule of Equity Method Investments [Line Items]                        
Real estate assets         124,204,000         124,204,000    
Accumulated depreciation         (23,764,000)         (23,764,000)    
Operating real estate         100,440,000         100,440,000    
Land held for development         38,683,000         38,683,000    
Other assets         10,934,000         10,934,000    
Total assets         150,057,000         150,057,000    
Debt         192,803,000         192,803,000    
Other liabilities         80,326,000         80,326,000    
Equity         (123,072,000)         (123,072,000)    
Total liabilities and equity         150,057,000         150,057,000    
Company's net investment in unconsolidated joint ventures         0 [1]         0 [1]    
Total revenue                   14,278,000 [2] 13,950,000 [2]  
Operating expense                   3,921,000 [2] 3,942,000 [2]  
Operating income                   10,357,000 [2] 10,008,000 [2]  
Interest                   (12,130,000) [2] (14,991,000) [2]  
Depreciation and amortization                   (4,148,000) [2] (4,951,000) [2]  
Other income/(expense)                   211,000 [2] (191,000) [2]  
Gain (Loss) on Sale of Investments                   (77,026,000) [2] (1,605,000) [2]  
Net income (loss)                   (82,736,000) (11,730,000)  
Equity in earnings (loss) of unconsolidated joint ventures                   (5,610,000) (1,898,000)  
Liberty Washington, LP [Member]
                       
Schedule of Equity Method Investments [Line Items]                        
Real estate assets 887,452,000       929,790,000       887,452,000 929,790,000    
Accumulated depreciation (131,064,000)       (116,072,000)       (131,064,000) (116,072,000)    
Operating real estate 756,388,000       813,718,000       756,388,000 813,718,000    
Development in Process 0               0      
Land held for development 2,000,000       2,000,000       2,000,000 2,000,000    
Other assets 58,701,000       62,647,000       58,701,000 62,647,000    
Total assets 817,089,000       878,365,000       817,089,000 878,365,000    
Debt 319,856,000       341,804,000       319,856,000 341,804,000    
Other liabilities 15,012,000       21,989,000       15,012,000 21,989,000    
Equity 482,221,000       514,572,000       482,221,000 514,572,000    
Total liabilities and equity 817,089,000       878,365,000       817,089,000 878,365,000    
Company's net investment in unconsolidated joint ventures 72,981,000 [1]       76,965,000 [1]       72,981,000 [1] 76,965,000 [1]    
Total revenue                 75,821,000 81,128,000 [2] 76,811,000 [2]  
Operating expense                 27,549,000 27,901,000 [2] 27,074,000 [2]  
Operating income                 48,272,000 53,227,000 [2] 49,737,000 [2]  
Interest                 (18,946,000) (21,260,000) [2] (22,998,000) [2]  
Depreciation and amortization                 (28,392,000) (28,749,000) [2] (28,618,000) [2]  
Other income/(expense)                 122,000 149,000 [2] 125,000 [2]  
Discontinued operations                 (8,731,000)      
Gain (Loss) on Sale of Investments                   0 [2] 0 [2]  
Net income (loss)                 (7,675,000) 3,367,000 (1,754,000)  
Equity in earnings (loss) of unconsolidated joint ventures                 3,748,000 3,243,000 1,889,000  
Liberty Commerz 1701 JFK Boulevard, LP [Member]
                       
Schedule of Equity Method Investments [Line Items]                        
Real estate assets 494,150,000       494,045,000       494,150,000 494,045,000    
Accumulated depreciation (83,461,000)       (69,572,000)       (83,461,000) (69,572,000)    
Operating real estate 410,689,000       424,473,000       410,689,000 424,473,000    
Development in Process 0               0      
Land held for development 0       0       0 0    
Other assets 50,680,000       50,638,000       50,680,000 50,638,000    
Total assets 461,369,000       475,111,000       461,369,000 475,111,000    
Debt 321,401,000       324,000,000       321,401,000 324,000,000    
Other liabilities 9,544,000       9,257,000       9,544,000 9,257,000    
Equity 130,424,000       141,854,000       130,424,000 141,854,000    
Total liabilities and equity 461,369,000       475,111,000       461,369,000 475,111,000    
Company's net investment in unconsolidated joint ventures 24,740,000 [1]       27,305,000 [1]       24,740,000 [1] 27,305,000 [1]    
Total revenue                 62,411,000 62,484,000 [2] 62,225,000 [2]  
Operating expense                 23,074,000 22,935,000 [2] 20,575,000 [2]  
Operating income                 39,337,000 39,549,000 [2] 41,650,000 [2]  
Interest                 (20,391,000) (20,501,000) [2] (20,445,000) [2]  
Depreciation and amortization                 (14,734,000) (15,411,000) [2] (15,494,000) [2]  
Other income/(expense)                 (233,000) (80,000) [2] (2,046,000) [2]  
Discontinued operations                 0      
Gain (Loss) on Sale of Investments                   0 [2] 0 [2]  
Net income (loss)                 3,979,000 3,557,000 3,665,000  
Equity in earnings (loss) of unconsolidated joint ventures                 1,406,000 1,304,000 1,314,000  
Other Joint Ventures [Member]
                       
Schedule of Equity Method Investments [Line Items]                        
Real estate assets 70,274,000       69,680,000       70,274,000 69,680,000    
Accumulated depreciation (8,456,000)       (6,853,000)       (8,456,000) (6,853,000)    
Operating real estate 61,818,000       62,827,000       61,818,000 62,827,000    
Development in Process 0               0      
Land held for development 47,549,000       23,193,000       47,549,000 23,193,000    
Other assets 15,911,000       14,294,000       15,911,000 14,294,000    
Total assets 125,278,000       100,314,000       125,278,000 100,314,000    
Debt 43,151,000       43,946,000       43,151,000 43,946,000    
Other liabilities 9,846,000       6,173,000       9,846,000 6,173,000    
Equity 72,281,000       50,195,000       72,281,000 50,195,000    
Total liabilities and equity 125,278,000       100,314,000       125,278,000 100,314,000    
Company's net investment in unconsolidated joint ventures 38,923,000 [1]       24,874,000 [1]       38,923,000 [1] 24,874,000 [1]    
Total revenue                 8,415,000 7,481,000 [2] 7,212,000 [2]  
Operating expense                 2,636,000 2,392,000 [2] 1,869,000 [2]  
Operating income                 5,779,000 5,089,000 [2] 5,343,000 [2]  
Interest                 (2,933,000) (2,989,000) [2] (3,169,000) [2]  
Depreciation and amortization                 (1,870,000) (1,885,000) [2] (1,793,000) [2]  
Other income/(expense)                 (37,000) 21,000 [2] (509,000) [2]  
Discontinued operations                 0      
Gain (Loss) on Sale of Investments                   0 [2] 1,253,000 [2]  
Net income (loss)                 939,000 236,000 1,125,000  
Equity in earnings (loss) of unconsolidated joint ventures                 673,000 (382,000) 736,000  
Equity Method Investee [Member]
                       
Schedule of Equity Method Investments [Line Items]                        
Real estate assets 2,024,825,000       2,200,429,000       2,024,825,000 2,200,429,000    
Accumulated depreciation (323,908,000)       (304,754,000)       (323,908,000) (304,754,000)    
Operating real estate 1,700,917,000       1,895,675,000       1,700,917,000 1,895,675,000    
Development in Process 2,226,000               2,226,000      
Land held for development 95,161,000       109,370,000       95,161,000 109,370,000    
Other assets 177,342,000       177,068,000       177,342,000 177,068,000    
Total assets 1,975,646,000       2,182,113,000       1,975,646,000 2,182,113,000    
Debt 994,020,000       1,233,687,000       994,020,000 1,233,687,000    
Other liabilities 146,482,000       207,006,000       146,482,000 207,006,000    
Equity 835,144,000       741,420,000       835,144,000 741,420,000    
Total liabilities and equity 1,975,646,000       2,182,113,000       1,975,646,000 2,182,113,000    
Company's net investment in unconsolidated joint ventures 179,655,000 [1]       169,021,000 [1]       179,655,000 [1] 169,021,000 [1]    
Total revenue                 200,041,000 218,497,000 [2] 213,840,000 [2]  
Operating expense                 71,047,000 74,756,000 [2] 70,799,000 [2]  
Operating income                 128,994,000 143,741,000 [2] 143,041,000 [2]  
Interest                 (61,069,000) (77,150,000) [2] (81,402,000) [2]  
Depreciation and amortization                 (60,621,000) (65,249,000) [2] (66,505,000) [2]  
Other income/(expense)                 14,000 212,000 [2] (2,203,000) [2]  
Discontinued operations                 (14,378,000)      
Gain (Loss) on Sale of Investments                   (77,026,000) [2] 1,163,000 [2]  
Net income (loss)                 (7,060,000) (75,472,000) (5,906,000)  
Equity in earnings (loss) of unconsolidated joint ventures                 $ 6,067,000 $ (681,000) $ 3,496,000  
[1] Differences between the Company's net investment in unconsolidated joint ventures and its underlying equity in the net assets of the venture are primarily a result of impairments related to the Company's investment in unconsolidated joint ventures, the deferral of gains associated with the sales of properties to joint ventures in which the Company retains an ownership interest and loans made to the joint ventures by the Company. These adjustments have resulted in an aggregate difference reducing the Company's investments in unconsolidated joint ventures by $41.7 million and $28.5 million as of December 31, 2013 and 2012, respectively. Differences between historical cost basis and the basis reflected at the joint venture level (other than loans) are typically depreciated over the life of the related asset.
[2] The years ended December 31, 2012 and 2011 have not been restated for discontinued operations.