Subsequent Event (Notes)

3 Months Ended

Mar. 31, 2014

Subsequent Events [Abstract]

Subsequent Events [Text Block]

Subsequent Event

On May 8, 2014, we completed a public offering in which 7.0 million depository shares with a liquidation preference of $25.00 per depositary share were sold to the underwriters at a price of $24.2125 per depository share, for proceeds, net of offering expenses, of approximately $169 million. Each depositary share represents a 1/1,000th interest in a share of our 7.750% Series B Cumulative Redeemable Preferred Stock ("Series B Preferred Stock"). In connection with the offering, we granted the underwriters an option for 30 days to purchase up to an additional 1.05 million depositary shares to cover overallotments, if any. Our Series B Preferred Stock has no stated maturity, is not subject to any sinking fund or mandatory redemption and ranks on parity with our 8.000% Series A Cumulative Redeemable Preferred Stock. Under certain circumstances upon a change of control, our Series B Preferred Stock is convertible to shares of our common stock. Holders of depositary shares have no voting rights, except under limited conditions, and are entitled to receive cumulative cash dividends at a rate of 7.750% per annum of the $25.00 per depository share liquidation preference before holders of our common stock are entitled to receive any dividends. Dividends are payable quarterly in arrears on the 15th day of each January, April, July and October. Depositary shares are redeemable at $25.00 per depository share plus accumulated and unpaid dividends (whether or not declared) exclusively at our option commencing on May 8, 2019, or earlier under certain circumstances intended to preserve our qualification as a REIT for federal income tax purposes.