XML 63 R35.htm IDEA: XBRL DOCUMENT
v2.4.1.9

Mortgages and Notes Payable (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2014
Debt Disclosure [Abstract] |
Schedule of Consolidated Mortgages and Notes Payable | Our mortgages and notes payable consist of the following:
| December 31,
| 2014 |  | 2013
Secured indebtedness: (1) |  |  |
5.21% (3.11% effective rate) mortgage loan due 2014 (2) | $ | — |  |  | $ | 125,247 |
5.17% (6.43% effective rate) mortgage loan due 2015 (3) | 39,324 |  |  | 39,609 |
3.50% (3.34% effective rate) mortgage loan due 2015 (4) | — |  |  | 37,340 |
6.88% mortgage loans due 2016 | 107,556 |  |  | 109,167 |
7.50% mortgage loan due 2016 | 44,501 |  |  | 45,103 |
5.10% (4.22% effective rate) mortgage loan due 2017 (5) | 115,229 |  |  | 118,126 |
5.74% to 8.15% mortgage loans due between 2014 and 2016 (6) | 6,258 |  |  | 14,072 |
| 312,868 |  |  | 488,664 |
Unsecured indebtedness: |  |  |
5.85% (5.88% effective rate) notes due 2017 (7) | 379,427 |  |  | 379,311 |
7.50% notes due 2018 | 200,000 |  |  | 200,000 |
3.20% (3.363% effective rate) notes due 2021 (8) | 297,207 |  |  | — |
3.625% (3.752% effective rate) notes due 2023 (9) | 247,887 |  |  | 247,624 |
Variable rate term loan due 2019 (10) | 200,000 |  |  | 200,000 |
Variable rate term loan due 2019 (11) | 225,000 |  |  | 225,000 |
Revolving credit facility due 2018 (12) | 209,000 |  |  | 215,700 |
| 1,758,521 |  |  | 1,467,635 |
Total | $ | 2,071,389 |  |  | $ | 1,956,299 |
__________
(1) | Our secured mortgage loans were collateralized by real estate assets with an aggregate undepreciated book value of $580.6 million at December 31, 2014. Our fixed rate mortgage loans generally are either locked out to prepayment for all or a portion of their term or are prepayable subject to certain conditions including prepayment penalties.
(2) | Net of unamortized fair market value premium of $0.7 million as of December 31, 2013. This debt was repaid in 2014.
(3) | Net of unamortized fair market value discount of $0.4 million and $0.8 million as of December 31, 2014 and 2013, respectively.
(4) | Net of unamortized fair market value premium of $0.1 million as of December 31, 2013. This debt was repaid in 2014.
(5) | Net of unamortized fair market premium of $2.7 million and $3.6 million as of December 31, 2014 and 2013, respectively.
(6) | Net of unamortized fair market value premium of $0.1 million and $0.3 million as of December 31, 2014 and 2013, respectively.
(7) | Net of unamortized original issuance discount of $0.3 million and $0.4 million as of December 31, 2014 and 2013, respectively.
(8) | Net of unamortized original issuance discount of $2.8 million as of December 31, 2014.
(9) | Net of unamortized original issuance discount of $2.1 million and $2.4 million as of December 31, 2014 and 2013, respectively.
(10) | The interest rate is 1.36% at December 31, 2014.
(11) | As more fully described in Note 7, we entered into floating-to-fixed interest rate swaps that effectively fix LIBOR for the full amount and duration of this loan. Accordingly, the equivalent fixed rate of this loan is 3.43%.
(12) | The interest rate is 1.26% at December 31, 2014.
Schedule of Long-term Debt Instruments | The following table sets forth scheduled future principal payments, including amortization, due on our mortgages and notes payable at December 31, 2014:
Years Ending December 31, |  | Principal Amount
2015 |  | $ | 44,145 |
2016 |  | 157,786 |
2017 |  | 488,279 |
2018 |  | 408,305 |
2019 |  | 424,305 |
Thereafter |  | 548,569 |
|  | $ | 2,071,389 |

X
- Details
Name: | us-gaap_DebtDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 55 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=34725769&loc=d3e28878-108400 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(e),(f)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6451184&loc=d3e28551-108399 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=6451184&loc=d3e28541-108399 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 22 -Article 5 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21521-112644 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21538-112644 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6479336&loc=d3e64711-112823 + Details
Name: | us-gaap_ScheduleOfDebtInstrumentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. + References No definition available. + Details
Name: | us-gaap_ScheduleOfDebtTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration