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Acquisitions (Tables)

9 Months Ended

Sep. 30, 2014

Business Combinations [Abstract]

Business Combination, Separately Recognized Transactions

The fair value asset and liability allocations are preliminary and may be adjusted as final information becomes available.

Consideration paid:
Cash and issuance of Series PR OP units	$	565,916
Debt assumed	167,684
Total consideration paid	$	733,600
Net assets acquired:
Land and building and improvements	$	356,206
Acquired below-market ground leases	333,046
Acquired above-market leases	13,048
Acquired in place lease value and deferred leasing costs	88,080
Mortgage notes payable, inclusive of premium	(182,851		)
Acquired below-market leases	(36,458		)
Other liabilities, net of other assets	(5,155		)
Total net assets acquired	$	565,916

Business Acquisition, Pro Forma Information

The unaudited pro forma information is provided for informational purposes only and is not indicative of results that would have occurred or which may occur in the future (amounts in thousands, expect per unit amounts):

	For the three months ended September 30,								For the nine months ended September 30,
	2014				2013				2014				2013
	The Company				The Predecessor				The Company				The Predecessor
Total revenues	$	173,036			$	82,322			$	508,507			$	245,724
Net income (loss)	24,915				(1,082		)		59,215				901
Net income per unit - basic and diluted	$	0.09			$	—			$	0.22			$	—

The following table summarizes the revenues and earnings related to the two properties since the acquisition date that are included in our consolidated statements of income for the three and nine months ended September 30, 2014 (amounts in thousands):

	Three months ended September 30, 2014				Nine months ended September 30, 2014
Total revenues	$	16,978			$	16,978
Net loss attributable to common unitholders	(197		)		(197		)

X

- Definition

Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 805

-SubTopic 10

-Section 50

-Paragraph 2

-Subparagraph (h)(2)-(3)

-URI http://asc.fasb.org/extlink&oid=25497992&loc=d3e1392-128463

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- Definition

Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 805

-SubTopic 20

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6910749&loc=d3e4845-128472

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