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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2012
Investment in real estate:        
Land $ 1,101,676 $ 1,091,550    
Land improvements 2,787,882 2,734,304    
Buildings and other depreciable property 588,041 562,059    
Investment in real estate 4,477,599 4,387,913    
Accumulated depreciation (1,282,423) (1,169,492)    
Net investment in real estate 3,195,176 3,218,421    
Cash 80,258 73,714 $ 58,427 $ 37,126
Notes receivable, net 35,463 37,137    
Investment in unconsolidated joint ventures 17,741 13,512    
Deferred financing costs, net 23,368 21,833    
Deferred commission expense 30,865 28,589 25,251  
Escrow deposits, goodwill and other assets, net 37,190 53,133    
Total Assets 3,420,061 3,446,339 3,392,309  
Liabilities:        
Mortgage notes payable 1,945,713 2,012,246    
Term loan 200,000 200,000    
Unsecured lines of credit 0 0    
Accrued expenses and accounts payable 76,044 64,520    
Deferred revenue—upfront payments from right-to-use contracts 78,405 74,174 68,673  
Deferred revenue—right-to-use annual payments 9,878 9,790    
Accrued interest payable 8,715 9,496    
Rents and other customer payments received in advance and security deposits 74,300 67,463    
Distributions payable 34,315 29,623    
Total Liabilities 2,427,370 2,467,312    
Stockholders’ Equity:        
Preferred stock value 0 0    
Common stock, $.01 par value 843 838    
Paid-in capital 1,039,140 1,029,601    
Distributions in excess of accumulated earnings (250,506) (254,209)    
Accumulated other comprehensive loss (553) (381)    
Total Stockholders’ Equity 925,068 911,993    
Non-controlling interests – Common OP Units 67,623 67,034    
Total Equity 992,691 979,027 $ 963,205 $ 924,302
Total Liabilities and Equity 3,420,061 3,446,339    
6.75% Series C Cumulative Redeemable Perpetual Preferred Stock        
Stockholders’ Equity:        
Preferred stock value $ 136,144 $ 136,144