Reportable Segments (Tables)

9 Months Ended

Sep. 30, 2014

Segment Reporting [Abstract]

Schedule of Income (Loss) by Reportable Segment

Segment net income, the balance of the Company’s investment in joint ventures and the amount of capital expenditures are not presented in the following tables. Management does not utilize these measures when analyzing its segments or when making resource allocation decisions, and therefore this information is not provided. FFO is reconciled to net income (loss) on a total Company basis (in thousands):

Three Months Ended September 30, 2014	Office		Retail		Land		Other			Total
Net operating income	$	52,691	$	1,221	$	—	$	1,200		$	55,112
Sales less costs of sales	—		—		82		—			82
Fee income	—		—		—		1,802			1,802
Other income	—		—		—		399			399
General and administrative expenses	—		—		—		(5,021		)	(5,021		)
Reimbursed expenses	—		—		—		(783		)	(783		)
Interest expense	—		—		—		(8,660		)	(8,660		)
Other expenses	—		—		—		(1,255		)	(1,255		)
Preferred stock dividends and original issuance costs	—		—		—		—			—
Funds from operations available to common stockholders	$	52,691	$	1,221	$	82	$	(12,318	)	41,676
Real estate depreciation and amortization, including Company's share of joint ventures										(35,347		)
Gain on sale of depreciated investment properties, including Company's share of joint ventures										12,993
Net income available to common stockholders										$	19,322

Three Months Ended September 30, 2013	Office		Retail		Land		Other			Total
Net operating income	$	30,308	$	3,663	$	—	$	861		$	34,832
Sales less costs of sales	—		—		725		(6		)	719
Fee income	—		—		—		2,420			2,420
Other income	—		—		—		303			303
Gain on sale of third party management and leasing business	—		—		—		4,531			4,531
Separation expenses	—		—		—		(520		)	(520		)
General and administrative expenses	—		—		—		(6,635		)	(6,635		)
Reimbursed expenses	—		—		—		(1,097		)	(1,097		)
Interest expense	—		—		—		(7,224		)	(7,224		)
Other expenses	—		—		—		(8,326		)	(8,326		)
Preferred stock dividends and original issuance costs	—		—		—		(1,777		)	(1,777		)
Funds from operations available to common stockholders	$	30,308	$	3,663	$	725	$	(17,470	)	17,226
Real estate depreciation and amortization, including Company's share of joint ventures										(21,890		)
Gain on sale of depreciated investment properties including the Company's share of joint ventures										67,435
Noncontrolling interest related to sale of depreciated properties										(3,390		)
Net income available to common stockholders										$	59,381

Nine Months Ended September 30, 2014	Office		Retail		Land		Other			Total
Net operating income	$	149,110	$	3,813	$	—	$	3,496		$	156,419
Sales less costs of sales	—		—		1,573		42			1,615
Fee income	—		—		—		6,165			6,165
Other income	—		—		—		4,563			4,563
Separation expenses	—		—		—		(84		)	(84		)
General and administrative expenses	—		—		—		(16,388		)	(16,388		)
Reimbursed expenses	—		—		—		(2,703		)	(2,703		)
Interest expense	—		—		—		(26,485		)	(26,485		)
Other expenses	—		—		—		(2,974		)	(2,974		)
Preferred stock dividends and original issuance costs	—		—		—		(6,485		)	(6,485		)
Funds from operations available to common stockholders	$	149,110	$	3,813	$	1,573	$	(40,853	)	113,643
Real estate depreciation and amortization, including Company's share of joint ventures										(110,319		)
Gain on sale of depreciated investment properties, including Company's share of joint ventures										18,975
Net income available to common stockholders										$	22,299

Nine Months Ended September 30, 2013	Office		Retail		Land		Other			Total
Net operating income	$	76,039	$	12,255	$	—	$	1,280		$	89,574
Sales less costs of sales	—		—		1,244		154			1,398
Fee income	—		—		—		9,007			9,007
Other income	—		—		—		2,649			2,649
Gain on sale of third party management and leasing business	—		—		—		4,531			4,531
Separation expenses	—		—		—		(520		)	(520		)
General and administrative expenses	—		—		—		(17,257		)	(17,257		)
Reimbursed expenses	—		—		—		(4,365		)	(4,365		)
Interest expense	—		—		—		(20,442		)	(20,442		)
Other expenses	—		—		—		(10,843		)	(10,843		)
Preferred stock dividends and original issuance costs	—		—		—		(10,887		)	(10,887		)
Funds from operations available to common stockholders	$	76,039	$	12,255	$	1,244	$	(46,693	)	42,845
Real estate depreciation and amortization, including Company's share of joint ventures										(57,162		)
Gain on sale of depreciated investment properties, including Company's share of joint ventures										124,682
Noncontrolling interest related to sale of depreciated properties										(3,390		)
Net income available to common stockholders										$	106,975

Reconciliation of revenues per Segment to Consolidated Revenues

The following table reconciles information presented in the tables above to the Company’s consolidated revenues (in thousands):

	Three Months Ended September 30,						Nine Months Ended September 30,
	2014			2013			2014			2013
Net operating income	$	55,112		$	34,832		$	156,419		$	89,574
Sales less cost of sales	82			719			1,615			1,398
Fee income	1,802			2,420			6,165			9,007
Other income	399			303			4,563			2,649
Rental property operating expenses	38,685			22,035			109,501			55,112
Cost of sales	55			147			325			1,725
Net operating income in joint ventures	(6,601		)	(7,538		)	(19,748		)	(21,567		)
Sales less cost of sales in joint ventures	—			(109		)	(47		)	(111		)
Net operating income in discontinued operations	(341		)	(1,752		)	(1,798		)	(5,318		)
Fee income in discontinued operations	—			—			—			(76		)
Other income in discontinued operations	(14		)	(18		)	(29		)	(33		)
Termination fees in discontinued operations and in joint ventures	—			—			(74		)	(19		)
Gain on land sales (included in gain on investment properties)	(81		)	(605		)	(1,566		)	(1,122		)
Total consolidated revenues	$	89,098		$	50,434		$	255,326		$	131,219