Segment Reporting (Tables)

9 Months Ended

Sep. 30, 2014

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

The following tables present a summary of the comparative financial results and total assets for each business segment (in thousands):

	Three Months Ended September 30,						Nine Months Ended September 30,
	2014			2013 (As Restated)¹			2014			2013 (As Restated)¹
REI:
Rental income	$	365,712		$	89,729		$	924,646		$	183,251
Direct financing lease income		625			1,201			2,812			1,201
Operating expense reimbursements		30,984			4,325			81,716			8,516
Total real estate investment revenues		397,321			95,255			1,009,174			192,968
Acquisition related		13,998			26,948			34,616			74,541
Merger and other non-routine transactions		7,613			4,301			173,406			133,734
Property operating		40,977			5,430			110,018			11,065
Management fees to affiliate		—			—			13,888			12,493
General and administrative		14,942			9,866			68,580			23,921
Depreciation and amortization		240,073			62,136			625,521			122,484
Impairment of real estate		2,299			2,074			3,855			2,074
Total operating expenses		319,902			110,755			1,029,884			380,312
Operating income (loss)		77,419			(15,500	)		(20,710	)		(187,344	)
Interest expense, net		(101,643	)		(27,189	)		(326,491	)		(45,414	)
Extinguishment of debt, net		(5,396	)		—			(21,264	)		—
Other income, net		8,508			136			16,799			2,658
Loss on derivative instruments, net		(17,484	)		(38,651	)		(10,398	)		(69,830	)
Loss on disposition of property		(256,894	)		—			(275,768	)		—
Gain (loss) on sale of investments		6,357			(2,246	)		6,357			(1,795	)
Total other expenses, net		(366,552	)		(67,950	)		(610,765	)		(114,381	)
Net loss from continuing operations		(289,133	)		(83,450	)		(631,475	)		(301,725	)
Discontinued operations:
Income from operations of held for sale assets		—			96			—			159
Net income from discontinued operations		—			96			—			159
Net loss	$	(289,133	)	$	(83,354	)	$	(631,475	)	$	(301,566	)
Cole Capital:
Dealer manager and distribution fees, selling commissions and offering reimbursements	$	21,535		$	—		$	73,957		$	—
Transaction service fees		22,972			—			41,942			—
Management fees and reimbursements		15,290			—			35,377			—
Total Cole Capital revenues		59,797			—			151,276			—
Cole Capital reallowed fees and commissions		15,398			—			56,902			—
General and administrative expenses		17,265			—			60,131			—
Merger and other non-routine transactions		19			—			1,946			—
Depreciation and amortization		25,077			—			64,210			—
Total operating expenses		57,759			—			183,189			—
Total other income		(952	)		—			12,903			—
Net loss from continuing operations		1,086			—			(19,010	)		—
Discontinued operations:
Income from operations of held for sale assets		—			—			—			—
Net loss	$	1,086		$	—		$	(19,010	)	$	—
Total Company:
Total revenues	$	457,118		$	95,255		$	1,160,450		$	192,968
Total operating expenses	$	377,661		$	110,755		$	1,213,073		$	380,312
Total other expense	$	(367,504	)	$	(67,950	)	$	(597,862	)	$	(114,381	)
Loss from continuing operations	$	(288,047	)	$	(83,450	)	$	(650,485	)	$	(301,725	)
Income (loss) from discontinued operations	$	—		$	96		$	—		$	159
Net loss	$	(288,047	)	$	(83,354	)	$	(650,485	)	$	(301,566	)

(1) For discussion of the restatement adjustments, see Note 2 — Restatement of Previously Issued Consolidated Financial Statements.

	Total Assets
	September 30, 2014		December 31, 2013
REI	$	21,834,806	$	7,809,083
Cole Capital		1,032,777		—
Total Company	$	22,867,583	$	7,809,083