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Segment Information Segment Information (Tables)
9 Months Ended
Sep. 30, 2013
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment [Table Text Block]
Segment information is as follows (in thousands):
 
Pennsylvania
Suburbs
 
Philadelphia
CBD
 
Metropolitan, D.C.
 
New Jersey/Delaware
 
Richmond,
Virginia
 
Austin, Texas
 
California
 
Corporate
 
Total
As of September 30, 2013:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Real estate investments, at cost:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Operating properties
$
1,196,987

 
$
1,026,116

 
$
1,207,243

 
$
410,143

 
$
309,646

 
$
289,075

 
$
192,700

 
$

 
$
4,631,910

Construction-in-progress
 
 
 
 
 
 
 
 
 
 
 
 
 
 
52,702

 
52,702

Land inventory
 
 
 
 
 
 
 
 
 
 
 
 
 
 
94,097

 
94,097

As of December 31, 2012:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Real estate investments, at cost:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Operating properties
$
1,178,730

 
$
988,590

 
$
1,193,200

 
$
546,644

 
$
309,923

 
$
285,346

 
$
223,736

 
$

 
$
4,726,169

Construction-in-progress
 
 
 
 
 
 
 
 
 
 
 
 
 
 
48,950

 
48,950

Land inventory
 
 
 
 
 
 
 
 
 
 
 
 
 
 
102,439

 
102,439

For the three-months ended September 30, 2013:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total revenue
$
39,268

 
$
35,891

 
$
29,320

 
$
16,171

 
$
8,640

 
$
9,937

 
$
4,632

 
$
(403
)
 
$
143,456

Property operating expenses, real estate taxes and third party management expenses
13,291

 
13,704

 
10,321

 
8,647

 
3,735

 
3,958

 
2,531

 
(19
)
 
56,168

Net operating income
$
25,977

 
$
22,187

 
$
18,999

 
$
7,524

 
$
4,905

 
$
5,979

 
$
2,101

 
$
(384
)
 
$
87,288

For the three-months ended September 30, 2012:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total revenue
$
38,373

 
$
33,026

 
$
26,516

 
$
15,536

 
$
8,826

 
$
8,274

 
$
4,448

 
$
(479
)
 
$
134,520

Property operating expenses, real estate taxes and third party management expenses
13,463

 
12,432

 
10,638

 
7,930

 
3,761

 
3,485

 
2,362

 
(504
)
 
53,567

Net operating income
$
24,910

 
$
20,594

 
$
15,878

 
$
7,606

 
$
5,065

 
$
4,789

 
$
2,086

 
$
25

 
$
80,953

For the nine-months ended September 30, 2013:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total revenue
$
114,730

 
$
107,957

 
$
85,889

 
$
47,449

 
$
26,359

 
$
29,067

 
$
13,773

 
$
(1,026
)
 
$
424,198

Property operating expenses, real estate taxes and third party management expenses
40,256

 
40,826

 
31,856

 
23,301

 
11,017

 
12,123

 
7,029

 
(75
)
 
166,333

Net operating income
$
74,474

 
$
67,131

 
$
54,033

 
$
24,148

 
$
15,342

 
$
16,944

 
$
6,744

 
$
(951
)
 
$
257,865

For the nine-months ended September 30, 2012:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total revenue
$
113,110

 
$
98,086

 
$
79,919

 
$
46,550

 
$
26,762

 
$
23,957

 
$
13,034

 
$
(1,305
)
 
$
400,113

Property operating expenses, real estate taxes and third party management expenses
39,285

 
37,080

 
31,156

 
22,841

 
10,874

 
10,494

 
6,747

 
(1,274
)
 
157,203

Net operating income
$
73,825

 
$
61,006

 
$
48,763

 
$
23,709

 
$
15,888

 
$
13,463

 
$
6,287

 
$
(31
)
 
$
242,910

Reconciliation Of Consolidated Net Operating Income [Table Text Block]
 
Three-month periods ended September 30,
 
Nine-month periods ended September 30,
 
2013
 
2012
 
2013
 
2012
 
(amounts in thousands)
 
(amounts in thousands)
Consolidated net operating income
$
87,288

 
$
80,953

 
$
257,865

 
$
242,910

Less:
 
 
 
 
 
 
 
Interest expense
(30,338
)
 
(32,620
)
 
(91,689
)
 
(99,745
)
Interest expense - amortization of deferred financing costs
(1,158
)
 
(1,218
)
 
(3,502
)
 
(3,790
)
Interest expense - financing obligation
(264
)
 
(230
)
 
(693
)
 
(608
)
Depreciation and amortization
(50,613
)
 
(46,955
)
 
(149,423
)
 
(142,262
)
General and administrative expenses
(6,436
)
 
(6,080
)
 
(20,322
)
 
(18,209
)
Net loss on sale of undepreciated real estate
(129
)
 

 
(129
)
 

Loss on real estate venture formation

 
(950
)
 

 
(950
)
Loss on early extinguishment of debt
(11
)
 
(51
)
 
(1,127
)
 
(1,549
)
Plus:
 
 
 
 
 
 
 
Interest income
268

 
311

 
448

 
2,631

Historic tax credit transaction income
11,853

 
11,840

 
11,853

 
11,840

Equity in income of real estate ventures
714

 
500

 
3,757

 
1,382

Gain from remeasurement of investment in a real estate venture

 

 
7,847

 

Net gain on real estate venture transactions

 

 
3,683

 

Income (loss) from continuing operations
11,174

 
5,500

 
18,568

 
(8,350
)
Income (loss) from discontinued operations
(86
)
 
11,589

 
3,619

 
41,577

Net income
$
11,088

 
$
17,089

 
$
22,187

 
$
33,227