Investment in Office Properties (Tables)

12 Months Ended

Dec. 31, 2013

Real Estate [Abstract]

Purchase price of office properties or additional office property interest acquired

The contract purchase price, excluding closing costs and other adjustments, of office properties or additional office property interests acquired during the year ended December 31, 2013 is as follows:

Market Location	Cost (in thousands)
Atlanta, GA	$	56,300
Houston, TX	646,700
Jacksonville, FL	130,000
Miami, FL	65,400
	$	898,400

Allocation of purchase price related to intangible assets and liabilities and weighted average amortization period

The allocation of purchase price related to tangible and intangible assets and liabilities for each class of asset or liability for The Pointe, Hayden Ferry II, Hearst Tower, Hayden Ferry Lakeside III, IV and V, Westshore Corporate Center, 525 North Tryon, Phoenix Tower, Tempe Gateway and NASCAR Plaza is as follows (in thousands):

	Amount
Land	$	43,600
Buildings	580,616
Tenant improvements	59,698
Lease commissions	21,207
Lease in place value	54,575
Above market leases	14,728
Below market leases	(18,979		)
Other	3,001
Mortgage assumed	(58,694		)

The following table summarizes the aggregate purchase price allocation for TPGI as of December 19, 2013:

	Amount
Assets:	(in thousands)
Land	$	97,132
Building	506,817
In place leases	61,562
Tenant Improvements	41,697
Leasing Commissions	14,935
Management Contracts	1,888
Condominium Units	19,900
Investment in unconsolidated joint ventures	93,539
Other Assets	47,257
Asset held for sale	353,752
Total Assets	$	1,238,479
Liabilities:
Below Market Rents	50,152
Accounts Payable and Accrued Expense	66,596
Mortgage note payable, net premium of $15,896	335,604
Liabilities held for sale	260,293
Total Liabilities	712,645
Consideration funded prior to closing	80,000
Noncontrolling Interest	34,229
Equity issued	411,605
Total Purchase Price	$	1,238,479

The following table summarizes the aggregate purchase price allocation for Tower Place 200, Deerwood North and South, and Lincoln Place:

	Amount
Land	$	39,155
Buildings	170,549
Tenant improvements	18,422
Lease commissions	9,123
Lease in place value	20,495
Above market leases	4,969
Below market leases	(9,267		)
Mortgage premium assumed	(2,804		)
Mortgage debt assumed	(49,369		)

Pro forma results of operations

The unaudited pro forma effect on the Company's results of operations for the purchase of Tower Place 200, Deerwood North and South, Lincoln Place, CityWestPlace and San Felipe Plaza as if the purchases had occurred on January 1, 2012 is as follows (in thousands, except per share data):

	Year Ended
	December 31,
	2013			2012
	Unaudited
Revenues	$	394,918		$	363,498
Net loss attributable to common stockholders	(16,890		)	(60,235		)
Basic net income attributable to common stockholders	(0.52		)	(2.38		)
Diluted net income attributable to common stockholders	(0.52		)	(2.38		)

Obligations for tenant improvement allowances and lease inducement costs for lease in place and commitments for buildings

Obligations for tenant improvement allowances and lease inducement costs for leases in place and commitments for building improvements at December 31, 2013 are as follows (in thousands):

2014	$	7,805
2015	—
2016	69
2017	—
2018	315
Total	$	8,189

Minimum future operating lease payments

Minimum future operating lease payments for various equipment leased at the office properties is as follows for operating leases in place at December 31, 2013 (in thousands):

2014	$	156
2015	66
2016	32
2017	21
2018	10
Total	$	285

Future approximate minimum rental receipts under noncancelable leases

The following is a schedule by year of future minimum rental receipts under noncancelable leases for office buildings owned at December 31, 2013 (in thousands):

2014	$	267,265
2015	253,249
2016	230,538
2017	193,744
2018	162,430
Thereafter	682,965
Total	$	1,790,191

Future approximate minimum ground lease payments

The following is a schedule by year of future minimum ground lease payments at December 31, 2013 (in thousands):

2014	$	792
2015	872
2016	793
2017	793
2018	794
Thereafter	30,929
Total	$	34,973