Segment Information (Tables)

12 Months Ended

Dec. 31, 2012

Reconciliation Of Revenues And Operating Profit Loss From Segments To Consolidated

The revenues and net operating income for each of the reportable operating segments are summarized as follows for the years ended December 31, 2012, 2011, and 2010 ($ in thousands):

	Years Ended December 31,
	2012			2011			2010
Revenues:
Southern California	$	249,524		$	223,304		$	200,541
Northern California		175,325			149,457			127,302
Seattle Metro		94,708			81,967			70,348
Other real estate assets		12,379			10,985			7,537
Total property revenues	$	531,936		$	465,713		$	405,728

Net operating income:
Southern California	$	166,162		$	146,519		$	132,150
Northern California		120,540			99,047			82,288
Seattle Metro		62,076			52,173			43,006
Other real estate assets		9,070			8,740			5,120
Total net operating income		357,848			306,479			262,564

Depreciation		(170,592	)		(151,428	)		(128,221	)
Interest expense before amortization		(100,244	)		(91,694	)		(82,756	)
Amortization expense		(11,644	)		(11,474	)		(4,828	)
Management and other fees from affiliates		11,489			6,780			4,551
General and administrative		(23,307	)		(20,694	)		(23,255	)
Cost of management and other fees		(6,513	)		(4,610	)		(2,707	)
Impairment and other charges		-			-			(2,302	)
Interest and other income		13,833			17,139			27,841
Loss on early retirement of debt		(5,009	)		(1,163	)		(10	)
Equity income (loss) income from co-investments		41,745			(467	)		(1,715	)
Gain on remeasurement of co-investment		21,947			-			-

Income before discontinued operations	$	129,553		$	48,868		$	49,162

Reconciliation of Assets from Segment to Consolidated

Total assets for each of the reportable operating segments are summarized as follows as of December 31, 2012 and 2011 ($ in thousands):

	As of December 31,
Assets:	2012		2011
Southern California	$	1,675,265	$	1,478,018
Northern California		1,489,095		1,241,320
Seattle Metro		699,465		579,612
Other real estate assets		88,330		94,088
Net reportable operating segments - real estate assets		3,952,155		3,393,038
Real estate under development		66,851		44,280
Co-investments		571,345		383,412
Cash and cash equivalents, including restricted cash		42,126		35,463
Marketable securities		92,713		74,275
Notes and other receivables		66,163		66,369
Other non-segment assets		55,870		40,127
Total assets	$	4,847,223	$	4,036,964