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Segment Reporting (Tables)
 6 Months Ended
Jun. 30, 2015
Segment Reporting [Abstract]  
Schedule of reconciliation of NOI to net income
A reconciliation of NOI to net income for the three and six months ended June 30, 2015 and 2014 is as follows (dollars in thousands):
 
For the three months ended
 
For the six months ended
 
6/30/2015
 
6/30/2014
 
6/30/2015
 
6/30/2014
Net income
$
172,253

 
$
172,197

 
$
380,306

 
$
313,796

Indirect operating expenses, net of corporate income
14,817

 
12,343

 
30,215

 
23,161

Investments and investment management expense
1,073

 
1,137

 
2,107

 
2,116

Expensed acquisition, development and other pursuit costs, net of recoveries
673

 
2,017

 
1,860

 
2,732

Interest expense, net (1)
44,590

 
43,722

 
90,164

 
86,255

(Gain) loss on extinguishment of debt, net
(7,749
)
 
412

 
(7,749
)
 
412

General and administrative expense
11,628

 
10,220

 
22,111

 
19,456

Equity in income of unconsolidated real estate entities
(13,806
)
 
(7,710
)
 
(48,371
)
 
(12,933
)
Depreciation expense (1)
118,627

 
110,395

 
235,480

 
216,762

Casualty and impairment gain, net
(17,114
)
 
—

 
(11,326
)
 
—

Gain on sale of real estate assets
(9,625
)
 
(60,945
)
 
(80,583
)
 
(60,945
)
Gain on sale of discontinued operations
—

 
—

 
—

 
(37,869
)
Income from discontinued operations
—

 
—

 
—

 
(310
)
Net operating income from real estate assets sold or held for sale, not classified as discontinued operations
(1,353
)
 
(6,240
)
 
(2,791
)
 
(12,522
)
        Net operating income
$
314,014

 
$
277,548

 
$
611,423

 
$
540,111

__________________________________

(1) Includes amounts associated with assets sold or held for sale, not classified as discontinued operations.
Schedule of net operating income from real estate assets sold or held for sale, not classified as discontinued operations
The following is a summary of NOI from real estate assets sold or held for sale, not classified as discontinued operations, for the periods presented (dollars in thousands):
 
For the three months ended
 
For the six months ended
 
6/30/2015
 
6/30/2014
 
6/30/2015
 
6/30/2014
 
 
 
 
 
 
 
 
 Rental income from real estate assets sold or held for sale, not classified as discontinued operations
$
2,285

 
$
10,226

 
$
4,809

 
$
20,595

 Operating expenses from real estate assets sold or held for sale, not classified as discontinued operations
(932
)
 
(3,986
)
 
(2,018
)
 
(8,073
)
Net operating income from real estate assets sold or held for sale, not classified as discontinued operations
$
1,353

 
$
6,240

 
$
2,791

 
$
12,522
Schedule of details of segment information
 
For the three months ended
 
For the six months ended
 
 
 
Total
revenue
 
NOI
 
% NOI  change from  prior year
 
Total
revenue
 
NOI
 
% NOI  change from  prior year
 
Gross
real estate (1)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
For the period ended June 30, 2015
 
 

 
 
 
 
 
 
 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Established
 

 
 

 
 

 
 
 
 
 
 
 
 

New England
$
49,000

 
$
30,985

 
2.3
 %
 
$
96,760

 
$
58,823

 
(0.7
)%
 
$
1,477,145

Metro NY/NJ
96,372

 
67,880

 
2.9
 %
 
190,704

 
132,989

 
2.9
 %
 
3,191,141

Mid-Atlantic
52,263

 
35,938

 
(0.9
)%
 
103,967

 
71,969

 
(0.8
)%
 
2,170,822

Pacific Northwest
19,047

 
13,657

 
7.9
 %
 
37,536

 
27,030

 
8.4
 %
 
719,366

Northern California
67,144

 
52,635

 
11.7
 %
 
132,658

 
102,369

 
11.6
 %
 
2,409,781

Southern California
63,169

 
43,046

 
6.7
 %
 
125,493

 
86,564

 
9.8
 %
 
2,503,327

Total Established
346,995

 
244,141

 
5.0
 %
 
687,118

 
479,744

 
5.1
 %
 
12,471,582

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Other Stabilized
54,681

 
36,536

 
N/A

 
108,764

 
71,353

 
N/A

 
2,028,096

Development / Redevelopment
50,556

 
33,337

 
N/A

 
93,582

 
60,326

 
N/A

 
3,581,408

Land Held for Future Development
N/A

 
N/A

 
N/A

 
N/A

 
N/A

 
N/A

 
487,205

Non-allocated (2)
2,942

 
N/A

 
N/A

 
5,553

 
N/A

 
N/A

 
42,997

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total
$
455,174

 
$
314,014

 
13.1
 %
 
$
895,017

 
$
611,423

 
13.2
 %
 
$
18,611,288

 
 
 
 
 
 
 
 
 
 
 
 
 
 
For the period ended June 30, 2014 (3)
 
 

 
 
 
 
 
 
 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Established
 

 
 

 
 

 
 
 
 
 
 
 
 

New England
$
45,523

 
$
29,179

 
(0.9
)%
 
$
88,125

 
$
55,620

 
(1.0
)%
 
$
1,356,000

Metro NY/NJ
92,325

 
64,724

 
0.9
 %
 
152,906

 
106,780

 
1.7
 %
 
2,294,169

Mid-Atlantic
46,990

 
32,531

 
(6.7
)%
 
49,260

 
34,784

 
(3.9
)%
 
645,172

Pacific Northwest
16,458

 
11,554

 
5.9
 %
 
26,683

 
18,591

 
4.8
 %
 
499,383

Northern California
62,319

 
47,498

 
13.7
 %
 
85,305

 
65,364

 
9.6
 %
 
1,400,573

Southern California
61,852

 
41,607

 
5.0
 %
 
68,658

 
47,198

 
4.5
 %
 
1,218,170

Total Established
325,467

 
227,093

 
2.9
 %
 
470,937

 
328,337

 
2.6
 %
 
7,413,467

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Other Stabilized
43,701

 
31,289

 
N/A

 
244,289

 
167,494

 
N/A

 
5,998,737

Development / Redevelopment
31,740

 
19,166

 
N/A

 
72,310

 
44,280

 
N/A

 
3,318,362

Land Held for Future Development
N/A

 
N/A

 
N/A

 
N/A

 
N/A

 
N/A

 
195,673

Non-allocated (2)
2,672

 
N/A

 
N/A

 
5,750

 
N/A

 
N/A

 
34,187

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total
$
403,580

 
$
277,548

 
8.9
 %
 
$
793,286

 
$
540,111

 
18.1
 %
 
$
16,960,426

__________________________________

(1)
Does not include gross real estate assets held for sale of $79,128 and $244,805 as of June 30, 2015 and 2014, respectively.
(2)
Revenue represents third-party management, asset management and developer fees and miscellaneous income which are not allocated to a reportable segment.