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Equity and Capital
 6 Months Ended
Jun. 30, 2016
Equity and Capital [Abstract]  
Equity and Capital
Equity and Capital

Common Stock of the Parent Company

Issuances:

At the Market ("ATM") Program

The current ATM equity offering program authorizes the Parent Company to sell up to $200 million of common stock at prices determined by the market at the time of sale. As of June 30, 2016, $70.8 million of common stock remained available for issuance under this ATM equity program.

There were no shares issued under the ATM equity program during the three months ended June 30, 2016 or 2015. The following table presents the shares that were issued under the ATM equity program during the six months ended June 30, 2016 and 2015:
 
 
Six months ended June 30,
(dollar amounts are in thousands, except price per share data)
 
2016
 
2015
Shares issued (1)
 
182,787

 
18,125

Weighted average price per share
 
$
68.85

 
64.72

Gross proceeds
 
$
12,584

 
1,173

Commissions
 
$
157

 
15

(1) Reflects shares traded in December and settled in January each year.


Forward Equity Offering

In March 2016, the Parent Company entered into a forward sale agreement (the "Forward Equity Offering") with respect to 3.10 million shares of its common stock at an offering price of $75.25 per share before any underwriting discount and offering expenses.

In June 2016, the Parent Company partially settled its forward equity offering by delivering 1.85 million shares of newly issued common stock, receiving $137.5 million of net proceeds, which were used to repay the Line balance created from the acquisition of Market Common Clarendon.

The remaining 1.25 million shares may be settled under the forward sale agreement prior to June 23, 2017.

Equity Offering - Subsequent Event

Subsequent to June 30, 2016, the Parent Company issued 5.0 million shares of common stock at $79.78 per share resulting in net proceeds of $400.1 million, used to (i) redeem, in August, the entire $300 million of 5.875% senior unsecured notes due June 15, 2017, including a make-whole payment, (ii) settle forward interest rate swaps, and (iii) fund investment activities, and for general corporate purposes. The Parent Company agreed to a 60 day lock-up period, whereby it will not sell any shares of its common stock or any other derived form of transferring ownership of the company, except with respect to the 1.25 million shares that may be settled under the forward equity offering.


Common Units of the Operating Partnership

Issuances:
Common units were issued to the Parent Company in relation to the Parent Company's issuance of common stock, as discussed above.

Accumulated Other Comprehensive Loss

The following tables present changes in the balances of each component of AOCI:
 
Controlling Interest
 
Noncontrolling Interest
 
Total
(in thousands)
Cash Flow Hedges
 
Unrealized gain (loss) on Available-For-Sale Securities
 
AOCI
 
Cash Flow Hedges
 
Unrealized gain (loss) on Available-For-Sale Securities
 
AOCI
 
AOCI
Balance as of December 31, 2014
$
(57,748
)
 
—

 
(57,748
)
 
(750
)
 
—

 
(750
)
 
(58,498
)
Other comprehensive income before reclassifications
4,558

 
(30
)
 
4,528

 
(64
)
 

 
(64
)
 
4,464

Amounts reclassified from accumulated other comprehensive income
4,421

 
—

 
4,421

 
79

 
—

 
79

 
4,500

Current period other comprehensive income, net
8,979

 
(30
)
 
8,949

 
15

 
—

 
15

 
8,964

Balance as of June 30, 2015
$
(48,769
)
 
(30
)
 
(48,799
)
 
(735
)
 
—

 
(735
)
 
(49,534
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Controlling Interest
 
Noncontrolling Interest
 
Total
(in thousands)
Cash Flow Hedges
 
Unrealized gain (loss) on Available-For-Sale Securities
 
AOCI
 
Cash Flow Hedges
 
Unrealized gain (loss) on Available-For-Sale Securities
 
AOCI
 
AOCI
Balance as of December 31, 2015
$
(58,650
)
 
(43
)
 
(58,693
)
 
(785
)
 
—

 
(785
)
 
(59,478
)
Other comprehensive income before reclassifications
(26,256
)
 
37

 
(26,219
)
 
(375
)
 
—

 
(375
)
 
(26,594
)
Amounts reclassified from accumulated other comprehensive income
4,874

 
—

 
4,874

 
78

 
—

 
78

 
4,952

Current period other comprehensive income, net
(21,382
)
 
37

 
(21,345
)
 
(297
)
 
—

 
(297
)
 
(21,642
)
Balance as of June 30, 2016
$
(80,032
)
 
(6
)
 
(80,038
)
 
(1,082
)
 
—

 
(1,082
)
 
(81,120
)


The following represents amounts reclassified out of AOCI into income:
AOCI Component
Amount Reclassified from AOCI into income
 
Affected Line Item Where Net Income is Presented
 
Three months ended June 30,
 
Six months ended June 30,
 
 
(in thousands)
2016
 
2015
 
2016
 
2015
 
 
Interest rate swaps
$
2,500

 
2,250

 
$
4,952

 
4,500

 
Interest expense