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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2015
Dec. 31, 2014
Assets    
Land $ 561,256 $ 543,546
Income producing property 2,076,541 1,927,407
Real estate investment property, at cost 2,637,797 2,470,953
Accumulated depreciation and amortization (692,608) (640,434)
Net income producing property 1,945,189 1,830,519
Properties under development or held for future development 36,094 76,235
Total real estate held for investment, net 1,981,283 1,906,754
Cash and cash equivalents 23,825 15,827
Restricted cash 13,383 10,299
Rents and other receivables, net of allowance for doubtful accounts of $2,297 and $3,392, respectively 62,890 59,745
Prepaid expenses and other assets 109,787 115,692
Total assets 2,191,168 2,108,317
Liabilities    
Notes payable, net 743,181 743,149
Mortgage notes payable, net 418,052 417,194
Lines of credit 105,000 50,000
Accounts payable and other liabilities 45,367 54,318
Dividends payable 20,434 0
Advance rents 12,744 12,528
Tenant security deposits 9,378 8,899
Total liabilities 1,354,156 1,286,088
Shareholders' equity    
Preferred shares; $0.01 par value; 10,000 shares authorized; no shares issued or outstanding 0 0
Shares of beneficial interest; $0.01 par value; 100,000 shares authorized: 68,191 and 67,819 shares issued and outstanding at December 31, 2015 and 2014, respectively 682 678
Additional paid in capital 1,193,298 1,184,395
Distributions in excess of net income (357,781) (365,518)
Accumulated other comprehensive loss (550) 0
Total shareholders’ equity 835,649 819,555
Noncontrolling interests in subsidiaries 1,363 2,674
Total equity 837,012 822,229
Total liabilities and shareholders’ equity $ 2,191,168 $ 2,108,317