Business Combinations (Tables)

3 Months Ended

Mar. 31, 2016

The following table summarizes the transaction related to the business combination, including the assets acquired and liabilities assumed as indicated (in thousands):



	February 12, 2016
Fair value of our equity interest before business combination	$	22,514		⁽¹⁾
Amounts recognized for assets and liabilities assumed:
Assets:
Property	$	58,665
Unamortized lease costs	13,736
Accrued rent and accounts receivable	102
Cash and cash equivalents	3,555
Other, net	192
Liabilities:
Debt, net	(48,727		)
Accounts payable and accrued expenses	(1,339		)
Other, net	(3,670		)
Total net assets	$	22,514
Gain recognized on equity interest remeasured to fair value	$	37,383		⁽²⁾

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(1)	Includes $2.5 million of cash received from the partner.


(2)	Amount is included in Gain on Sale and Acquisition of Real Estate Joint Venture and Partnership Interests in our Condensed Consolidated Statement of Operations.

Pro Forma Impact Of Acquisitions

The following table summarizes the impact to revenues and net income attributable to common shareholders from our business combination as follows (in thousands):



	Three Months Ended March 31, 2016
Increase in revenues	$	946
Decrease in net income attributable to common shareholders	500

The following table summarizes the supplemental pro forma data, as follows (in thousands, except per share amounts):



	Three Months Ended March 31,
	Pro Forma 2016⁽¹⁾		Pro Forma 2015 ⁽¹⁾
Revenues	$	132,953	$	127,132
Net income	71,158		86,331
Net income attributable to common shareholders	69,565		82,046
Earnings per share – basic	.56		.67
Earnings per share – diluted	.55		.66

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(1)	There are no non-recurring pro forma adjustments included within or excluded from the amounts in the preceding table