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Investments In and Advances To Affiliates | 6 Months Ended
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Jun. 30, 2012
Schedule of Equity Method Investments [Line Items] |
Investments In and Advances To Affiliates | Investments in and Advances to Affiliates Unconsolidated Affiliates We have equity interests of up to 50.0% in various joint ventures with unrelated third parties and a secured debt interest in one of those joint ventures, as described below. The following table sets forth the combined, summarized income statements for our unconsolidated joint ventures on the purchase accounting basis:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2012 |  | 2011 |  | 2012 |  | 2011
Income Statements: |  |  |  |  |  |  |
Rental and other revenues | $ | 26,049 |  |  | $ | 24,779 |  |  | $ | 50,869 |  |  | $ | 49,996 |
Expenses: |  |  |  |  |  |  |
Rental property and other expenses | 12,666 |  |  | 10,774 |  |  | 24,082 |  |  | 22,771 |
Depreciation and amortization | 5,919 |  |  | 6,295 |  |  | 12,484 |  |  | 12,911 |
Impairment of real estate assets | — |  |  | — |  |  | 7,180 |  |  | — |
Interest expense | 5,267 |  |  | 5,858 |  |  | 11,097 |  |  | 11,865 |
Total expenses | 23,852 |  |  | 22,927 |  |  | 54,843 |  |  | 47,547 |
Income/(loss) before disposition of properties | 2,197 |  |  | 1,852 |  |  | (3,974 | ) |  | 2,449 |
Gains on disposition of properties | 6,275 |  |  | — |  |  | 6,275 |  |  | — |
Net income | $ | 8,472 |  |  | $ | 1,852 |  |  | $ | 2,301 |  |  | $ | 2,449 |
Our share of: |  |  |  |  |  |  |
Depreciation and amortization of real estate assets | $ | 1,675 |  |  | $ | 2,033 |  |  | $ | 3,773 |  |  | $ | 4,126 |
Impairment of real estate assets | $ | — |  |  | $ | — |  |  | $ | 1,002 |  |  | $ | — |
Interest expense | $ | 1,843 |  |  | $ | 2,033 |  |  | $ | 3,823 |  |  | $ | 4,194 |
Net income | $ | 1,133 |  |  | $ | 749 |  |  | $ | 338 |  |  | $ | 1,670 |
Our share of net income | $ | 1,133 |  |  | $ | 749 |  |  | $ | 338 |  |  | $ | 1,670 |
Management and other fees adjustments | 375 |  |  | 604 |  |  | 1,008 |  |  | 1,150 |
Equity in earnings of unconsolidated affiliates | $ | 1,508 |  |  | $ | 1,353 |  |  | $ | 1,346 |  |  | $ | 2,820 |
4. Investments in and Advances to Affiliates - Continued In 2011, we provided a $38.3 million interest-only secured loan to our DLF I joint venture that originally was scheduled to mature in March 2012. The loan bears interest at LIBOR plus 500 basis points. The maturity date of the loan has been extended to September 30, 2012. In the second quarter of 2012, we acquired an office property from the joint venture by reducing the balance of the advance due to us from the joint venture. We deferred our share of the gain recorded by the joint venture related to this transaction. We recorded interest income from this loan in interest and other income of $0.2 million and $0.3 million during the three months ended June 30, 2012 and 2011, respectively, and $0.7 million and $0.3 million during the six months ended June 30, 2012 and 2011, respectively. In the second quarter of 2012, our DLF II joint venture obtained a $50.0 million, three-year secured mortgage loan from a third party lender, bearing a fixed interest rate of 3.5% on $39.1 million of the loan and a floating interest rate of LIBOR plus 250 basis points on $10.9 million of the loan, which was used by the joint venture to repay a secured loan at maturity to a third party lender. During the first quarter of 2012, we recorded $1.0 million as our share of impairment of real estate assets on two office properties in our DLF I joint venture, due to a decline in projected occupancy and a change in the assumed holding period of those assets, which reduced the expected future cash flows from the properties.
Highwoods Realty Limited Partnership [Member] |
Schedule of Equity Method Investments [Line Items] |
Investments In and Advances To Affiliates | Investments in and Advances to Affiliates Unconsolidated Affiliates We have equity interests of up to 50.0% in various joint ventures with unrelated third parties and a secured debt interest in one of those joint ventures, as described below. The following table sets forth the combined, summarized income statements for our unconsolidated joint ventures on the purchase accounting basis:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2012 |  | 2011 |  | 2012 |  | 2011
Income Statements: |  |  |  |  |  |  |
Rental and other revenues | $ | 25,057 |  |  | $ | 23,756 |  |  | $ | 48,854 |  |  | $ | 47,958 |
Expenses: |  |  |  |  |  |  |
Rental property and other expenses | 12,076 |  |  | 10,155 |  |  | 22,877 |  |  | 21,526 |
Depreciation and amortization | 5,607 |  |  | 6,053 |  |  | 11,861 |  |  | 12,299 |
Impairment of real estate assets | — |  |  | — |  |  | 7,180 |  |  | — |
Interest expense | 5,103 |  |  | 5,683 |  |  | 10,766 |  |  | 11,508 |
Total expenses | 22,786 |  |  | 21,891 |  |  | 52,684 |  |  | 45,333 |
Income/(loss) before disposition of properties | 2,271 |  |  | 1,865 |  |  | (3,830 | ) |  | 2,625 |
Gains on disposition of properties | 6,275 |  |  | — |  |  | 6,275 |  |  | — |
Net income | $ | 8,546 |  |  | $ | 1,865 |  |  | $ | 2,445 |  |  | $ | 2,625 |
Our share of: |  |  |  |  |  |  |
Depreciation and amortization of real estate assets | $ | 1,636 |  |  | $ | 1,995 |  |  | $ | 3,695 |  |  | $ | 4,050 |
Impairment of real estate assets | $ | — |  |  | $ | — |  |  | $ | 1,002 |  |  | $ | — |
Interest expense | $ | 1,823 |  |  | $ | 2,012 |  |  | $ | 3,782 |  |  | $ | 4,149 |
Net income | $ | 1,142 |  |  | $ | 759 |  |  | $ | 356 |  |  | $ | 1,694 |
Our share of net income | $ | 1,142 |  |  | $ | 759 |  |  | $ | 356 |  |  | $ | 1,694 |
Management and other fees adjustments | 369 |  |  | 598 |  |  | 995 |  |  | 1,138 |
Equity in earnings of unconsolidated affiliates | $ | 1,511 |  |  | $ | 1,357 |  |  | $ | 1,351 |  |  | $ | 2,832 |
4. Investments in and Advances to Affiliates - Continued In 2011, we provided a $38.3 million interest-only secured loan to our DLF I joint venture that originally was scheduled to mature in March 2012. The loan bears interest at LIBOR plus 500 basis points. The maturity date of the loan has been extended to September 30, 2012. In the second quarter of 2012, we acquired an office property from the joint venture by reducing the balance of the advance due to us from the joint venture. We deferred our share of the gain recorded by the joint venture related to this transaction. We recorded interest income from this loan in interest and other income of $0.2 million and $0.3 million during the three months ended June 30, 2012 and 2011, respectively, and $0.7 million and $0.3 million during the six months ended June 30, 2012 and 2011, respectively. In the second quarter of 2012, our DLF II joint venture obtained a $50.0 million, three-year secured mortgage loan from a third party lender, bearing a fixed interest rate of 3.5% on $39.1 million of the loan and a floating interest rate of LIBOR plus 250 basis points on $10.9 million of the loan, which was used by the joint venture to repay a secured loan at maturity to a third party lender. During the first quarter of 2012, we recorded $1.0 million as our share of impairment of real estate assets on two office properties in our DLF I joint venture, due to a decline in projected occupancy and a change in the assumed holding period of those assets, which reduced the expected future cash flows from the properties.

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- Definition The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 35 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=7658923&loc=d3e32787-111569 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 18 -Paragraph 20 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.12) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6382943&loc=d3e33918-111571 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 35 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=7658923&loc=d3e32847-111569 + Details
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