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Archstone Acquisition (Tables)
6 Months Ended
Jun. 30, 2013
Archstone Acquisition  
Summary of preliminary purchase price allocation

 

 

 

 

Acquisition Date
Preliminary Fair Value
(dollars in thousands)

 

Land and land improvements

 

$

1,760,100

 

Buildings and improvements

 

3,729,422

 

FF&E

 

52,290

 

Construction-in-progress, including land and land held for development

 

404,765

 

In-place lease intangibles

 

182,467

 

Other assets

 

85,829

 

Total consolidated assets

 

$

6,214,873

 

Interest in unconsolidated real estate entities

 

256,454

 

Total assets

 

$

6,471,327

 

Fair value of assumed mortgage notes payable

 

3,732,980

 

Liability for preferred obligations

 

66,500

 

Other liabilities

 

34,100

 

Noncontrolling interest

 

13,262

 

Net Assets Acquired

 

2,624,485

 

Common shares issued

 

1,875,210

 

Cash consideration

 

$

749,275

 

Schedule of information for acquisition that is included in condensed consolidated statement of comprehensive income from the acquisition date

The following table presents information for Archstone that is included in our Condensed Consolidated Statement of Comprehensive Income from the acquisition date, February 27, 2013, through June 30, 2013 (in thousands).

 

 

 

For the period including
February 28, 2013 through
June 30, 2013

 

Revenues

 

$

140,196

 

Loss attributable to common shareholders (1)

 

$

(91,137

)

 

(1) Amounts exclude acquisition costs for the Archstone Acquisition.

Schedule of company's supplemental consolidated pro forma information

The following table presents the Company’s supplemental consolidated pro forma information as if the acquisition had occurred on January 1, 2012 (in thousands, except per share amounts):

 

 

 

For the six months ended
June 30, 2013

 

For the six months
ended June 30, 2012

 

Revenues

 

$

771,547

 

$

695,464

 

Income (loss) from continuing operations

 

198,262

 

(24,486

)

Earnings (loss) per common share - diluted (from continuing operations)

 

$

1.53

 

$

(0.19

)