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Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
REVENUES:      
Rental and other property income $ 202,163 $ 241,413 $ 252,994
Expense reimbursements 16,646 12,502 13,394
Interest and other income 17,567 12,016 10,560
REVENUES 236,376 265,931 276,948
EXPENSES:      
Rental and other property operating 101,585 124,703 133,178
Asset management and other fees to related parties 30,251 33,882 33,169
Interest 36,338 34,385 23,630
General and administrative 5,479 7,961 9,402
Transaction costs (Note 16) 11,862 340 1,382
Depreciation and amortization 58,364 71,968 72,361
Impairment of real estate (Note 2) 13,100 0 0
EXPENSES 256,979 273,239 273,122
Gain on sale of real estate (Note 3) 401,737 39,666 3,092
INCOME FROM CONTINUING OPERATIONS BEFORE PROVISION FOR INCOME TAXES 381,134 32,358 6,918
Provision for income taxes 1,376 1,646 806
NET INCOME FROM CONTINUING OPERATIONS 379,758 30,712 6,112
DISCONTINUED OPERATIONS:      
Income from operations of assets held for sale (Note 7) 0 3,853 13,140
Gain on disposition of assets held for sale (Note 7) 0 0 5,151
NET INCOME FROM DISCONTINUED OPERATIONS 0 3,853 18,291
NET INCOME 379,758 34,565 24,403
Net income attributable to noncontrolling interests (21) (18) (11)
NET INCOME ATTRIBUTABLE TO THE COMPANY 379,737 34,547 24,392
Redeemable preferred stock dividends (Note 11) (490) (9) 0
Redeemable preferred stock redemptions (Note 11) 2 0 0
NET INCOME AVAILABLE TO COMMON STOCKHOLDERS $ 379,249 $ 34,538 $ 24,392
BASIC AND DILUTED NET INCOME AVAILABLE TO COMMON STOCKHOLDERS PER SHARE:      
Continuing operations (in usd per share) $ 5.47 $ 0.34 $ 0.06
Discontinued operations (in usd per share) 0.00 0.04 0.19
Net income (in usd per share) $ 5.47 $ 0.38 $ 0.25
WEIGHTED AVERAGE SHARES OF COMMON STOCK OUTSTANDING:      
Basic (in shares) 69,062 91,328 97,588
Diluted (in shares) 69,070 91,328 97,588