OTHER ASSETS AND LIABILITIES (Tables)

3 Months Ended

Mar. 31, 2015

OTHER ASSETS AND LIABILITIES

Summary of the significant components of prepaid expenses and other assets

	March 31,		December 31,
	2015		2014
	(In thousands)
Special Improvement District receivable	$	33,040	$	33,318
Equipment, net of accumulated depreciation of $2.8 million and $2.4 million, respectively		19,906		20,284
Tenant incentives and other receivables		12,014		14,264
Federal income tax receivable		8,629		8,629
Prepaid expenses		10,560		9,196
Below-market ground leases		19,579		19,663
Condominium deposits		139,559		151,592
Security and escrow deposits		9,483		9,829
Above-market tenant leases		4,365		4,656
Uncertain tax position asset		402		383
In-place leases		29,645		32,715
Intangibles		3,994		3,593
Other		2,023		2,014
	$	293,199	$	310,136

Summary of the significant components of accounts payable and accrued expenses

	March 31,		December 31,
	2015		2014
	(In thousands)
Construction payables	$	191,599	$	170,935
Accounts payable and accrued expenses		31,827		34,154
Condominium deposits		60,706		82,150
Membership deposits		21,448		21,023
Above-market ground leases		2,232		2,272
Deferred income		65,305		65,675
Accrued interest		28,127		14,791
Accrued real estate taxes		5,041		9,903
Tenant and other deposits		11,758		12,756
Accrued payroll and other employee liabilities		10,561		25,838
Interest rate swaps		3,307		3,144
Other		26,356		23,376
	$	458,267	$	466,017