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Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Cash flows from operating activities      
Revenues from real estate operations received $ 483,421 $ 476,762 $ 453,847
Construction contract and other service revenues received 77,831 88,433 112,644
Property operating expenses paid (174,683) (180,041) (173,625)
Construction contract and other service expenses paid (67,952) (94,140) (124,867)
General, administrative, leasing, business development and land carry costs paid 22,904 28,027 23,969
Interest expense paid (87,394) (93,715) (87,917)
Previously accreted interest expense paid 0 (17,314) 0
Settlement of interest rate derivatives (29,738) 0 0
Proceeds from sale of trading marketable securities 18,975 0 0
Exit costs on property dispositions (4,146) 0 0
Payments in connection with early extinguishment of debt (2,637) (353) 0
Interest and other income received 1,073 698 323
Income taxes paid (8) (160) 0
Net cash provided by operating activities 191,838 152,143 156,436
Purchases of and additions to properties      
Construction, development and redevelopment (165,275) (232,667) (303,064)
Acquisitions of operating properties (48,308) (32,856) (146,275)
Tenant improvements on operating properties (27,103) (37,195) (20,826)
Other capital improvements on operating properties (20,066) (16,906) (10,422)
Proceeds from sales of properties 290,603 79,638 27,576
Proceeds from sale of equity method investment 0 5,773 0
Mortgage and other loan receivables funded or acquired (14,232) (23,377) (5,588)
Mortgage and other loan receivables payments received 10,113 16,759 1,568
Leasing costs paid (13,278) (15,997) (14,403)
Investment in unconsolidated entities (250) (250) (6,600)
Other 1,540 (3,309) (1,133)
Net cash provided by (used in) investing activities 13,744 (260,387) (479,167)
Proceeds from debt      
Revolving Credit Facility 329,000 1,180,000 663,000
Other debt proceeds 403,117 456,206 359,912
Repayments of debt      
Revolving Credit Facility (991,000) (813,000) (733,000)
Scheduled principal amortization (11,684) (13,755) (13,996)
Other debt repayments (124,386) (698,100) (66,663)
Deferred financing costs paid (3,371) (13,113) (8,570)
Net proceeds from issuance of preferred shares 165,652 0 0
Net proceeds from issuance of common shares 205,425 147,828 250,196
Redemption of preferred shares (55,000) 0 0
Acquisition of noncontrolling interests in consolidated entities 0 0 (4,462)
Common share dividends paid (89,161) (114,643) (93,792)
Preferred share dividends paid (19,087) (16,102) (16,102)
Distributions paid to noncontrolling interests in the Operating Partnership (5,828) (7,875) (8,099)
Restricted share redemptions (3,379) (3,990) (3,913)
Other (845) 245 60
Net cash (used in) provided by financing activities (200,547) 103,701 324,571
Net increase (decrease) in cash and cash equivalents 5,035 (4,543) 1,840
Cash and cash equivalents      
Beginning of period 5,559 10,102 8,262
End of period 10,594 5,559 10,102
Reconciliation of net income (loss) to net cash provided by operating activities:      
Net income (loss) 20,341 (127,576) 45,504
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation and other amortization 124,418 136,594 125,819
Impairment losses 62,702 151,021 0
Loss on interest rate derivatives 0 29,805 0
Settlement of previously accreted interest expense 0 (17,314) 0
Amortization of deferred financing costs 6,243 6,596 5,871
Increase in deferred rent receivable (11,776) (10,102) (5,706)
Amortization of net debt discounts 3,155 5,540 5,841
Gain on sales of real estate (20,961) (7,528) (3,917)
Gain on equity method investment 0 (2,452) (6,406)
Share-based compensation 9,982 11,920 11,845
(Gain) loss on early extinguishment of debt (3,430) 1,670 0
Other (3,195) (314) (3,872)
Changes in operating assets and liabilities:      
Decrease (increase) in accounts receivable 6,693 (7,094) (1,680)
Decrease (increase) in restricted cash and marketable securities 14,934 2,160 (4,875)
Decrease (increase) in prepaid expenses and other assets 8,550 (687) 8,674
Increase (decrease) in accounts payable, accrued expenses and other liabilities 4,101 (18,041) (19,644)
Decrease in rents received in advance and security deposits (1,916) (2,055) (1,018)
Decrease in interest rate derivatives in connection with cash settlement (28,003) 0 0
Net cash provided by operating activities 191,838 152,143 156,436
Supplemental schedule of non-cash investing and financing activities:      
(Decrease) increase in accrued capital improvements, leasing and other investing activity costs (1,227) 11,719 4,576
Increase in property, debt and other liabilities in connection with acquisitions 0 3,040 74,244
Decrease in property in connection with surrender of property in settlement of debt 12,042 0 0
Decrease in debt in connection with surrender of property in settlement of debt 16,304 0 0
Increase in property and noncontrolling interests in connection with property contribution by a noncontrolling interest in a joint venture 0 0 9,000
Increase (decrease) in fair value of derivatives applied to AOCL and noncontrolling interests 4,040 1,438 (1,846)
Dividends/distribution payable 28,698 35,038 32,986
Decrease in noncontrolling interests and increase in shareholders’ equity in connection with the conversion of common units into common shares 2,814 1,521 9,567
Adjustments to noncontrolling interests resulting from changes in Operating Partnership ownership 4,627 2,798 10,274
Increase in redeemable noncontrolling interest and decrease in shareholders’ equity in connection with adjustment to arrive at fair value of noncontrolling interest $ 3,955 $ 1,315 $ 0