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Consolidated Statements of Cash Flows (USD $)
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Operating activities      
Net income $ 212,716,000 $ 128,884,000 $ 192,927,000
Adjustments to reconcile net income to net cash provided from (used in) operating activities:      
Depreciation and amortization expenses 423,605,000 202,543,000 164,923,000
Other amortization expenses 16,851,000 17,169,000 15,412,000
Provision for loan losses 2,010,000 29,684,000 23,261,000
Impairment of assets 12,194,000 947,000 25,223,000
Stock-based compensation expense 10,786,000 11,823,000 9,633,000
Loss (gain) on extinguishment of debt (979,000) 34,171,000 25,107,000
Distributions by unconsolidated entities operating (6,149,000) 0 0
Income from unconsolidated entities (5,772,000) (6,673,000) 0
Rental income less than (in excess of) cash received (31,578,000) (6,594,000) 11,259,000
Amortization related to above (below) market leases, net (2,507,000) (2,856,000) (1,713,000)
Loss (gain) on sales of properties (61,160,000) (36,115,000) (43,394,000)
Other income less than (in excess of) cash received 0 0 5,000,000
Increase (decrease) in accrued expenses and other liabilities 10,653,000 12,293,000 (311,000)
Decrease (increase) in receivables and other assets (4,744,000) (20,535,000) (36,068,000)
Net cash provided from (used in) operating activities 588,224,000 364,741,000 381,259,000
Investing activities      
Investment in real property, net of cash acquired (4,905,122,000) (2,074,176,000) (598,959,000)
Capitalized interest (13,164,000) (20,792,000) (41,170,000)
Investment in real estate loans receivable (51,477,000) (97,265,000) (74,417,000)
Other investments, net of payments (22,986,000) (133,894,000) (22,133,000)
Principal collected on real estate loans receivable 188,811,000 43,495,000 111,779,000
Contributions to unconsolidated entities (2,784,000) (196,413,000) 0
Distributions by unconsolidated entities investing 9,135,000 103,000 0
Decrease (increase) in restricted cash 30,248,000 (52,124,000) 130,833,000
Proceeds from sales of real property 247,210,000 219,027,000 224,007,000
Net cash provided from (used in) investing activities (4,520,129,000) (2,312,039,000) (270,060,000)
Financing activities      
Net increase (decrease) under unsecured lines of credit arrangements 310,000,000 160,000,000 (430,000,000)
Proceeds from issuance of senior unsecured notes 1,381,086,000 1,821,683,000 0
Payments to extinguish senior unsecured notes (3,000) (495,542,000) (201,048,000)
Net proceeds from the issuance of secured debt 119,030,000 154,306,000 276,277,000
Payments on secured debt (85,111,000) (217,711,000) (107,736,000)
Net proceeds from the issuance of common stock 2,137,594,000 995,438,000 704,533,000
Proceeds from issuance of preferred stock 696,437,000 0 0
Decrease (increase) in deferred loan expenses (28,867,000) (3,869,000) (7,431,000)
Contributions by noncontrolling interests 8,604,000 [1] 2,611,000 [1] 2,255,000 [1]
Distributions to noncontrolling interests (30,705,000) [1] (3,301,000) [1] (2,104,000) [1]
Cash distributions to stockholders (544,248,000) (370,223,000) (333,839,000)
Net cash provided from (used in) financing activities 3,963,817,000 2,043,392,000 (99,093,000)
Increase (decrease) in cash and cash equivalents 31,912,000 96,094,000 12,106,000
Cash and cash equivalents at beginning of period 131,570,000 35,476,000 23,370,000
Cash and cash equivalents at end of period 163,482,000 131,570,000 35,476,000
Supplemental cash flow information:      
Interest paid 285,884,000 156,207,000 143,697,000
Income taxes paid $ 389,000 $ 319,000 $ 854,000
[1] Includes amounts attributable to redeemable noncontrolling interests. See accompanying notes.