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Subsequent Events | 3 Months Ended
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Mar. 31, 2013
Subsequent Events [Abstract] |
Subsequent Events |
16. | SUBSEQUENT EVENTS
In April 2013, the Company issued $150.0 million of its newly designated 6.250% Class K Cumulative Redeemable Preferred Shares (the “Class K Preferred Shares”) at a price of $500.00 per Class K Preferred Share (or $25.00 per depositary share). In addition, the Company redeemed in May 2013, $150.0 million of its $205.0 million of 7.375% Class H Cumulative Redeemable Preferred Shares (the “Class H Preferred Shares”) at a redemption price of $500.00 per Class H Preferred Share (or $25.00 per depositary share) plus accrued and unpaid dividends of $2.2535 per Class H Preferred Share (or $0.1127 per depositary share). The proceeds from the issuance of Class K Preferred Shares were used to redeem the $150.0 million portion of Class H Preferred Shares. The Company expects to record a non-cash charge of $5.2 million to net income attributable to common shareholders in the second quarter of 2013 relating to the prorated write-off of the Class H Preferred Shares’ original issuance costs. In April 2013, the Company acquired its partner’s 85% interest in five prime power centers for $93.9 million. The Company funded its investment primarily with proceeds from the issuance of common shares, proceeds from asset sales and corporate debt. Upon closing, these prime power centers will be unencumbered. The Company acquired its partner’s interest in The Walk at Highwoods Preserve (Tampa, FL), Douglasville Pavilion (Atlanta, GA), Commonwealth Center and Chesterfield Crossing (Richmond, VA), and Jefferson Plaza (Norfolk, VA). In April 2013, the Company issued 2.5 million common shares at a weighted-average price of $17.83 per share, generating gross proceeds of $45.0 million.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References No definition available. + Details
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