Subsequent Events/Other

3 Months Ended

Mar. 31, 2014


14.	Subsequent Events/Other

Subsequent Events

Subsequent to March 31, 2014, the Company:


•	Acquired one land parcel for $10.3 million;


•	Disposed of a portion of a land parcel for $8.2 million;


•	Repaid $3.1 million of mortgage loans;


•	Entered into $50.0 million of forward starting swaps to hedge changes in interest rates related to future secured or unsecured debt issuances; and


•	Closed on the sale of its unconsolidated interest in the German portfolio fund and the German management company, representing the sale of the majority of the remaining German assets that were acquired as part of the Archstone Acquisition.

Other

During the quarters ended March 31, 2014 and 2013, the Company incurred charges of $0.5 million and $2.6 million, respectively, related to the write-off of various pursuit and out-of-pocket costs for terminated acquisition, disposition and development transactions. These costs are included in other expenses in the accompanying consolidated statements of operations and comprehensive income. See Note 4 for details on the property acquisition costs related to the Archstone Transaction.

During the quarter ended March 31, 2014, the Company settled a dispute with the seller/co-developer of a land parcel located in Florida and received $0.5 million, which is included in interest and other income in the accompanying consolidated statements of operations and comprehensive income.