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OTHER ASSETS AND LIABILITIES (Tables)
9 Months Ended
Sep. 30, 2012
OTHER ASSETS AND LIABILITIES  
Summary of the significant components of prepaid expenses and other assets

 

 

 

September 30,

 

December 31,

 

 

 

2012

 

2011

 

 

 

(In thousands)

 

Special Improvement District receivable

 

$

41,402

 

$

40,580

 

Other receivables

 

2,818

 

4,181

 

Federal income tax receivable

 

5,401

 

5,393

 

Prepaid expenses

 

7,209

 

6,507

 

Below-market ground leases

 

20,426

 

20,680

 

Security and escrow deposits

 

12,944

 

17,266

 

Above-market tenant leases

 

1,042

 

1,014

 

Uncertain tax position asset

 

12,070

 

11,935

 

In-place leases

 

13,713

 

11,865

 

Intangibles

 

3,714

 

3,074

 

Other

 

4,013

 

4,661

 

 

 

$

124,752

 

$

127,156

 

Summary of the significant components of accounts payable and accrued expenses

 

 

 

September 30,

 

December 31,

 

 

 

2012

 

2011

 

 

 

(In thousands)

 

Construction payable

 

$

11,470

 

$

8,923

 

Accounts payable and accrued expenses

 

38,998

 

45,078

 

Membership deposits

 

19,091

 

16,033

 

Above-market ground leases

 

2,629

 

2,748

 

Deferred gains/income

 

8,112

 

5,739

 

Accrued interest

 

2,218

 

2,747

 

Accrued real estate taxes

 

8,916

 

3,439

 

Tenant and other deposits

 

7,882

 

5,966

 

Insurance reserve

 

6,015

 

4,728

 

Accrued payroll and other employee liabilities

 

10,205

 

9,658

 

Interest rate swaps

 

7,724

 

4,367

 

Other

 

13,500

 

15,978

 

 

 

$

136,760

 

$

125,404