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Shareholders' Equity, Noncontrolling Interests and Other Comprehensive Income (Tables) | 12 Months Ended
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Dec. 31, 2016
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest [Abstract] |
Reclassification out of Accumulated Other Comprehensive Income | The following table sets forth the activity in accumulated other comprehensive income for the three years ended December 31, 2016 (in thousands):
| Gains or Losses on Derivative Instruments
Balance at January 1, 2014 | $ | 1,132 |
Other comprehensive loss before reclassifications | (9,061 | )
Reclassification of realized interest on swap agreements | 3,776 |
Net current period other comprehensive loss | (5,285 | )
Net current period other comprehensive loss attributable to noncontrolling interests | 148 |
Balance at December 31, 2014 | (4,005 | )
Other comprehensive loss before reclassifications | (5,061 | )
Reclassification of realized interest on swap agreements | 5,524 |
Net current period other comprehensive income | 463 |
Net current period other comprehensive income attributable to noncontrolling interests | (921 | )
Balance at December 31, 2015 | (4,463 | )
Other comprehensive loss before reclassifications | (646 | )
Reclassification of realized interest on swap agreements | 4,576 |
Net current period other comprehensive income | 3,930 |
Net current period other comprehensive income attributable to noncontrolling interests | (265 | )
Balance at December 31, 2016 | $ | (798 | )
Change in Noncontrolling Interests | The following table summarizes the change in the noncontrolling interests for the periods presented (in thousands):
| Noncontrolling Interests in Operating Partnership (a) |  | Noncontrolling Interests in Partially-Owned Affiliates (b) |  | Total
Balance at December 31, 2013 | $ | 48,948 |  |  | $ | 368,404 |  |  | $ | 417,352 |
Distributions declared of $1.23 per Common OP Unit | (5,085 | ) |  | — |  |  | (5,085 | )
Net income for the period January 1 through December 31, 2014 | 3,204 |  |  | 77,878 |  |  | 81,082 |
Conversion of 136,128 Common OP Units to Common Shares by limited partners of the Operating Partnership | (3,181 | ) |  | — |  |  | (3,181 | )
Issuance of Common OP Units to acquire real estate | 44,051 |  |  | — |  |  | 44,051 |
Other comprehensive income - unrealized loss on valuation of swap agreements | (345 | ) |  | (902 | ) |  | (1,247 | )
Reclassification of realized interest expense on swap agreements | 115 |  |  | 984 |  |  | 1,099 |
Noncontrolling interest contributions | — |  |  | 57,969 |  |  | 57,969 |
Noncontrolling interest distributions and other reductions | — |  |  | (218,152 | ) |  | (218,152 | )
Employee Long-term Incentive Plan Unit Awards | 6,528 |  |  | — |  |  | 6,528 |
Balance at December 31, 2014 | 94,235 |  |  | 286,181 |  |  | 380,416 |
Distributions declared of $1.22 per Common OP Unit | (5,983 | ) |  | — |  |  | (5,983 | )
Net income for the period January 1 through December 31, 2015 | 3,836 |  |  | 80,426 |  |  | 84,262 |
Conversion of 100,620 Common OP Units to Common Shares by limited partners of the Operating Partnership | (2,451 | ) |  | — |  |  | (2,451 | )
Acquisition of noncontrolling interests | — |  |  | (3,561 | ) |  | (3,561 | )
Other comprehensive income - unrealized loss on valuation of swap agreements | (117 | ) |  | (897 | ) |  | (1,014 | )
Reclassification of realized interest expense on swap agreements | 97 |  |  | 1,838 |  |  | 1,935 |
Noncontrolling interest contributions | — |  |  | 35,489 |  |  | 35,489 |
Noncontrolling interest distributions and other reductions | — |  |  | (74,950 | ) |  | (74,950 | )
Employee Long-term Incentive Plan Unit Awards | 6,723 |  |  | — |  |  | 6,723 |
Balance at December 31, 2015 | 96,340 |  |  | 324,526 |  |  | 420,866 |
Distributions declared of $1.16 per Common OP Unit | (6,753 | ) |  | — |  |  | (6,753 | )
Net income for the period January 1 through December 31, 2016 | 5,002 |  |  | 56,814 |  |  | 61,816 |
Conversion of 351,250 Common OP Units to Common Shares by limited partners of the Operating Partnership | (7,892 | ) |  | — |  |  | (7,892 | )
Change in control of previously consolidated investment (Note 4) | (75,713 | ) |  | — |  |  | (75,713 | )
Acquisition of noncontrolling interests (c) | — |  |  | (25,925 | ) |  | (25,925 | )
Issuance of Common and Preferred OP Units to acquire real estate | 31,429 |  |  | — |  |  | 31,429 |
Other comprehensive income - unrealized loss on valuation of swap agreements | (43 | ) |  | (288 | ) |  | (331 | )
Reclassification of realized interest expense on swap agreements | 223 |  |  | 373 |  |  | 596 |
Noncontrolling interest contributions | — |  |  | 295,108 |  |  | 295,108 |
Noncontrolling interest distributions and other reductions | — |  |  | (80,769 | ) |  | (80,769 | )
Employee Long-term Incentive Plan Unit Awards | 12,768 |  |  | — |  |  | 12,768 |
Rebalancing adjustment (Note 1) | (35,652 | ) |  | — |  |  | (35,652 | )
Balance at December 31, 2016 | $ | 19,709 |  |  | $ | 569,839 |  |  | $ | 589,548 |
__________
(a) | Noncontrolling interests in the Operating Partnership are comprised of (i) the limited partners’ 3,365,668 and 2,931,198 Common OP Units at December 31, 2016 and 2015, respectively; (ii) 188 Series A Preferred OP Units at December 31, 2016 and 2015; (iii) 141,593 Series C Preferred OP Units at December 31, 2016; and (iv) 1,996,388 and 1,922,623 LTIP units as of December 31, 2016 and 2015, respectively, as discussed in Share Incentive Plan (Note 13). Distributions declared for Preferred OP Units are reflected in net income in the table above.
(b) | Noncontrolling interests in partially-owned affiliates comprise third-party interests in Fund I, II, III, IV and V, and Mervyns I and II, and six other subsidiaries.
(c) | During 2016, the Company acquired an additional 8.3% interest in Fund II from a limited partner for $18.4 million, giving the Company an aggregate 28.33% interest. Amount in the table above represents the book value of this transaction.

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