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Real Estate Investments (Tables)
12 Months Ended
Dec. 31, 2014
Dec. 31, 2013
Real Estate [Abstract]    
Gross carrying value of the Company's Properties
As of December 31, 2014 and 2013 the gross carrying value of the Company’s Properties was as follows (in thousands):
 
2014
 
2013
Land
$
669,635

 
$
680,513

Building and improvements
3,409,303

 
3,504,060

Tenant improvements
524,754

 
484,716

 
4,603,692

 
4,669,289

Assets held for sale - real estate investments (a)
27,436

 

Total
$
4,631,128

 
$
4,669,289


(a)
Real estate investments related to assets held for sale above represents gross real estate assets and does not include accumulated depreciation or other assets on the balance sheets of the properties held for sale.
 
Schedule of Business Acquisitions, by Acquisition [Table Text Block]  
The Company has treated this transaction as a business combination and allocated the purchase price to the tangible and intangible assets and liabilities. As discussed in Note 2, the Company utilized a number of sources in making estimates of fair values for purposes of allocating the purchase price to tangible and intangibles assets acquired and intangible liabilities assumed. The purchase price is allocated as follows:
 
 
December 19, 2013
Building, land and improvements
 
$
255,705

Intangible assets acquired
 
85,036

Below market lease liabilities assumed
 
(8,637
)
 
 
$
332,104

 
 
 
Mortgage debt assumed - at fair value (a)
 
(238,082
)
Return of existing equity method investment
 
(30,424
)
Net working capital assumed
 
10,423

Non-controlling interest
 
(946
)
     Total cash payment at settlement
 
$
73,075


(a) Principal outstanding on assumed mortgage debt at December 19, 2013 was $237.1 million.
Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block]  
Intangible assets acquired and intangible liabilities assumed consist of the following (in thousands):
 
 
December 19, 2013
 
Weighted Average Amortization Period (in years)
Intangible assets:
 
 
 
 
In-place lease value
 
$
80,916

 
7.9
Above market tenant leases acquired
 
4,120

 
6.9
Total
 
$
85,036

 
 
 
 
 
 
 
Intangible liabilities:
 
 
 
 
Below market leases acquired
 
$
(8,637
)
 
6.5
Business Acquisition, Pro Forma Information [Table Text Block]  
The unaudited pro forma information below summarizes the Company’s combined results of operations for the years ended December 31, 2014 and 2013 as though the acquisition of One and Two Commerce Square, Four Points Centre and Six Tower Bridge were completed on January 1, 2012. The supplemental pro forma operating data is not necessarily indicative of what the actual results of operations would have been assuming the transaction had been completed as set forth above, nor do they purport to represent the Company’s results of operations for future periods (in thousands except for per share amounts).
 
 
December 31,
 
 
2013
 
2012
 
 
 
 
 
Pro forma revenue
 
$
610,979

 
$
592,753

Pro forma income (loss) from continuing operations
 
21,805

 
(60,011
)
Pro forma net income (loss) available to common shareholders
 
25,957

 
(16,970
)
 
 
 
 
 
Earnings per common share from continuing operations:
 
 
 
 
Basic -- as reported
 
$
0.20

 
$
(0.36
)
Basic -- as pro forma
 
$
0.14

 
$
(0.42
)
 
 
 
 
 
Diluted -- as reported
 
$
0.20

 
$
(0.36
)
Diluted -- as pro forma
 
$
0.14

 
$
(0.42
)
 
 
 
 
 
Earnings per common share:
 
 
 
 
Basic -- as reported
 
$
0.23

 
$
(0.06
)
Basic -- as pro forma
 
$
0.17

 
$
(0.12
)
 
 
 
 
 
Diluted -- as reported
 
$
0.23

 
$
(0.06
)
Diluted -- as pro forma
 
$
0.17

 
$
(0.12
)

Included in the consolidated statements of income for the year ended December 31, 2013 are total revenues of $3.4 million and a net loss attributable to common shareholders of $0.2 million from acquisitions made during 2013.