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Segment Information (Tables)
 6 Months Ended
Jun. 30, 2014
Segment Information [Abstract]  
Reconciliation of Revenues and Operating Profit Loss from Segments to Consolidated
The revenues, net operating income, and assets for each of the reportable operating segments are summarized as follows for the three and six months ended June, 2014 and 2013 (dollars in thousands):

 
 
Three Months Ended
June 30,
  
Six Months Ended
June 30,
 
 
 
2014
  
2013
  
2014
  
2013
 
Revenues:
 
  
  
  
 
Southern California
 
$
114,843
  
$
65,103
  
$
184,530
  
$
129,843
 
Northern California
  
88,198
   
53,089
   
145,143
   
103,859
 
Seattle Metro
  
44,382
   
26,480
   
73,023
   
52,231
 
Other real estate assets
  
9,191
   
4,109
   
12,935
   
7,906
 
Total property revenues
 
$
256,614
  
$
148,781
  
$
415,631
  
$
293,839
 
 
                
Net operating income:
                
Southern California
 
$
75,330
  
$
43,696
  
$
122,397
  
$
87,405
 
Northern California
  
61,223
   
36,462
   
101,577
   
71,746
 
Seattle Metro
  
29,364
   
17,410
   
48,409
   
34,406
 
Other real estate assets
  
7,477
   
2,917
   
8,056
   
5,659
 
Total net operating income
  
173,394
   
100,485
   
280,439
   
199,216
 
 
  
 
             
Management and other fees
  
2,836
   
2,034
   
4,495
   
4,041
 
Depreciation
  
(97,510
)
  
(47,673
)
  
(147,822
)
  
(94,459
)
General and administrative
  
(9,558
)
  
(6,589
)
  
(17,142
)
  
(13,588
)
Merger expenses
  
(26,497
)
  
-
   
(42,556
)
  
-
 
Acquisition and dispositon costs
  
(529
)
  
(168
)
  
(1,504
)
  
(555
)
Interest expense
  
(42,151
)
  
(29,327
)
  
(71,192
)
  
(57,468
)
Interest and other income
  
2,814
   
1,917
   
5,693
   
6,939
 
Equity income from co-investments
  
5,629
   
7,282
   
16,155
   
11,493
 
Gain on early retirement of debt
  
-
   
1,024
   
-
   
1,024
 
Gains on sale of real estate and land
  
-
   
-
   
8,268
   
1,503
 
Income from continuing operations
 
$
8,428
  
$
28,985
  
$
34,834
  
$
58,146
 
Reconciliation of Assets from Segment to Consolidated
Total assets for each of the reportable operating segments are summarized as follows as of June 30, 2014 and December 31, 2013 (in thousands):
 
 
 
June 30,
2014
  
December 31,
2013
 
Assets:
 
  
 
Southern California
 
$
4,348,186
  
$
1,746,434
 
Northern California
  
3,403,553
   
1,614,159
 
Seattle Metro
  
1,582,171
   
741,533
 
Other real estate assets
  
153,677
   
86,745
 
Net reportable operating segment - real estate assets
  
9,487,587
   
4,188,871
 
Real estate under development
  
422,372
   
50,430
 
Co-investments
  
964,970
   
677,133
 
Real estate held for sale, net
  
107,772
   
-
 
Cash and cash equivalents, including restricted cash
  
47,538
   
53,766
 
Marketable securities
  
106,358
   
90,084
 
Notes and other receivables
  
66,522
   
68,255
 
Other non-segment assets
  
145,244
   
58,300
 
Total assets
 
$
11,348,363
  
$
5,186,839