Discontinued Operations (Tables)

12 Months Ended

Dec. 31, 2015

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Disposal Groups, Including Discontinued Operations [Table Text Block]

The components of discontinued operations are outlined below and include the results of operations for the respective periods that the Company owned such assets for properties sold in 2013 and prior years during each of the years ended December 31, 2015, 2014 and 2013 (amounts in thousands).

	Year Ended December 31,
	2015			2014			2013
REVENUES
Rental income	$	499		$	1,309		$	121,942
Total revenues	499			1,309			121,942
EXPENSES (1)
Property and maintenance	(60		)	(141		)	36,792
Real estate taxes and insurance	65			267			11,903
Property management	—			—			1
Depreciation	—			—			34,380
General and administrative	85			89			85
Total expenses	90			215			83,161
Discontinued operating income	409			1,094			38,781
Interest and other income	3			317			217
Other expenses	—			—			(3		)
Interest (2):
Expense incurred, net	—			—			(1,296		)
Amortization of deferred financing costs	—			—			(228		)
Income and other tax (expense) benefit	(15		)	(8		)	(449		)
Discontinued operations	397			1,403			37,022
Net gain on sales of discontinued operations	—			179			2,036,505
Discontinued operations, net	$	397		$	1,582		$	2,073,527

(1) Includes expenses paid in the current period for properties sold in prior periods related to the Company’s period of ownership.

(2) Includes only interest expense specific to secured mortgage notes payable for properties sold.

Starwood Portfolio [Member]

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Condensed Income Statement [Table Text Block]

As a result, the following table summarizes the results of operations attributable to the Starwood Transaction for the years ended December 31, 2015, 2014 and 2013 (amounts in thousands):

	Year Ended December 31,
	2015			2014			2013
REVENUES
Rental income	$	427,433		$	401,134		$	373,899
Total revenues	427,433			401,134			373,899
EXPENSES (1)
Property and maintenance	78,189			76,579			75,848
Real estate taxes and insurance	48,403			46,416			44,035
Property management	11			11			11
Depreciation	87,616			104,104			105,015
General and administrative	38			24			22
Total expenses	214,257			227,134			224,931
Operating income	213,176			174,000			148,968
Interest and other income	1			1			2
Other expenses	(35		)	(1		)	—
Interest (2):
Expense incurred, net	(680		)	(701		)	(754		)
Amortization of deferred financing costs	(559		)	(98		)	(98		)
Income and other tax (expense) benefit	(1		)	(3		)	(2		)
Income from operations	211,902			173,198			148,116
Income from operations attributable to Noncontrolling Interests – Partially Owned Properties	—			(14		)	(52		)
Income from operations attributable to controlling interests – Operating Partnership	211,902			173,184			148,064
Income from operations attributable to Noncontrolling Interests – Operating Partnership	(8,083		)	(6,598		)	(5,692		)
Income from operations attributable to controlling interests – Company	$	203,819		$	166,586		$	142,372

(1) Includes expenses paid in the current period for properties held for sale.

(2) Includes only interest expense specific to secured mortgage notes payable for properties held for sale which was repaid or will be repaid at or before closing.